[Federal Register Volume 67, Number 13 (Friday, January 18, 2002)]
[Notices]
[Pages 2710-2711]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-1427]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45269; File No. SR-CBOE-2001-72]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Chicago Board Options 
Exchange, Inc. Amending Its Fee Schedule With Respect to Certain 
Communications Fees

January 11, 2002.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given 
that on December 26, 2001, the Chicago Board Options Exchange, Inc. 
(``CBOE'' 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 CBOE proposes to make certain changes to its fee schedule. The 
text of the proposed rule change is available at the Office of the 
Secretary, CBOE, and at the Commission.

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

    In its filing with the Commission, CBOE 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 Exchange 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 represents that the purpose of this proposed rule 
change is to implement certain fee changes. The Exchange is proposing 
to increase certain monthly communications fees to recover the 
incremental cost of replacing the Exchange's current analog trading 
floor telephone system with a new digital telephone system. These fee 
increases were approved by the Exchange's Board of Directors pursuant 
to CBOE Rule 2.22 and will take effect on January 1, 2002.
    The Exchange is amending the following fees: (1) The ``Exchangefone 
Maintenance'' monthly fee will be increased from $47.25 to $70.88; (2) 
the ``Lines Voice Circuits'' monthly fee will be increased from $13.12 
to $19.68; (3) the ``Data Circuits at Ameritech Frame (Entrance)'' 
monthly fee will be increased from $13.12 to $19.68; (4) the ``Data 
Circuits at In-house Frame: Lines Between Ameritech and Communications 
Center'' monthly fee will be increased from $10.50 to $15.75; (5) the 
``Data Circuits at In-house Frame: Lines Direct from Ameritech to the 
Trading Floor'' monthly fee will be increased from $10.50 to $15.75; 
(6) the ``Data Circuits at In-house Frame: Lines Between the 
Communications Center and the Trading Floor'' monthly fee will be 
increased from $10.50 to $15.75; and (7) the ``Wireless Phone Rentals'' 
monthly fee will be increased from $100.00 to $150.00.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) of the Act,\3\ in general, and 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.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(4).
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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

    The Exchange has neither solicited nor received any written 
comments on the proposed rule change.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act \5\ and subparagraph (f)(2) of Rule 19b-4 
\6\ thereunder, because it establishes or changes a due, fee, or other 
charge. At any time within 60 days of the filing of such proposed rule 
change, the Commission may summarily abrogate such 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.\7\
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    \5\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \6\ 17 CFR 240.19b-4(f)(2).
    \7\ See 15 U.S.C. 78(b)(3)(C).
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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. Copies of such filing will also be 
available for inspection and copying at

[[Page 2711]]

the principal office of the CBOE. All submissions should refer to File 
No. SR-CBOE-2001-72 and should be submitted by February 8, 2002.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-1427 Filed 1-17-02; 8:45 am]
BILLING CODE 8010-01-M