[Federal Register Volume 67, Number 5 (Tuesday, January 8, 2002)]
[Notices]
[Pages 946-947]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-404]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45177; File No. SR-Amex-2001-103]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by American Stock Exchange LLC 
Relating to a Utilization Fee for the `Smart' Wiring Program

December 20, 2001.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 
1934,\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on 
December 10, 2001, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``SEC'' or ``Commission'') the proposed rule change as described in 
Items I, II, and III below, which Items have been prepared by the 
Exchange. The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The Exchange proposes to increase floor fees by assessing a $15.00 
monthly utilization fee on registered options traders operating on the 
Harry's floow of the Exchange (new trading facility on the first floor 
of the 86 Trinity Exchange building) to enable registered options 
traders to hard-wire their handheld computers from certain locations in 
the Harry's floor.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Amex has prepared summaries, set forth in sections 
A, B, and C below, of the most significant aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange is proposing to assess a $150.00 monthly utilization 
fee (regardless of amount of days service is utilized during a month) 
on registered options traders operating on the Harry's floor of the 
Exchange to recover the capital investment, as well as the 
implementation and operating costs, for the `Smart' Wiring program.
    `Smart' Wiring involves the installation of `Smart' wired outlets 
throughout the Harry's floor to enable registered options traders to 
change their location within that trading floor from day to day by 
easily connecting into a `Smart' outlet. The need for this program 
arose because of the desire of users to be able to move to any location 
in the trading crowd and get connectivity to their member firm's 
servers. Through the `Smart' Wiring connection, registered options 
traders receive analytical data and other information from their member 
firms which assists them in making better markets. `Smart' Wiring is 
not part of the Exchange's order routing or other trading system.
    The `Smart' Wiring program is being implemented in the Harry's 
floor first, since that space requires less work than the other Amex 
floors to effect implementation of the program. The Exchange will 
monitor the program and, based on its experience with the program as 
well as the demand for the service, the Exchange may decide to extend 
the service on the Harry's floor by adding additional `Smart' outlets 
and/or extend new service to the other Amex floors.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the Act 
\3\ in general and furthers the objective of Section 6(b)(4) of the Act 
\4\ in particular in that it is designed to provide for the equitable 
allocation of reasonable dues, fees, and other charges among its 
members and issuers and other persons using its facilities.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(4).

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[[Page 947]]

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    Amex has neither solicited nor received written comments with 
respect to the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing 
for Commission Action

    Because the foregoing rule change (1) does not significantly affect 
the protection of investors or the public interest; (2) does not impose 
any significant burden on competition; (3) does not become operative 
for 30 days from December 11, 2001, the date on which it was filed, and 
the Exchange provided the Commission with written notice of its intent 
to file the proposed rule change at least five business days prior to 
the filing date, it has become effective pursuant to Section 
19(b)(3)(A) of the Act \5\ and Rule 19b-4(g)(6) thereunder.\6\ At any 
time within 60 days of the filing of such proposed rule change, the 
Commission may summarily abrogate such proposed rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)6.
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0609. 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the proposed rule change that are filed with 
the Commission, and all written communications relating to the proposed 
rule change between the Commission and any person, other than those 
that may be withheld from the public in accordance with the provisions 
of 5 U.S.C. 552, will be available for inspection and copying in the 
Commission's Public Reference Room in Washington, DC. Copies of such 
filing will also be available for inspection and copying at the 
principal office of the Amex. All submissions should refer to SR-Amex-
2001-103 and should be submitted by January 29, 2002.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-404 Filed 1-7-02; 8:45 am]
BILLING CODE 8010-01-M