[Federal Register Volume 67, Number 16 (Thursday, January 24, 2002)]
[Notices]
[Page 3525]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-1701]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45288; File No. SR-Phlx-2001-107]


Self-Regulatory Organizations; Order Approving Proposed Rule 
Change by the Philadelphia Stock Exchange, Inc., Relating to an 
Extension of the Interim Intermarket Linkage Program

January 16, 2002.
    On November 29, 2001, the Philadelphia Stock Exchange, Inc. 
(``Phlx'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``SEC'' or ``Commission''), pursuant to section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change seeking to extend the pilot 
program authorizing implementation of ``interim linkages'' with the 
other options exchanges until April 1, 2002.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240-19b-4.
    \3\ On May 16, 2001, the Commission issued a notice of filing 
and immediate effectiveness of a pilot program submitted by the Phlx 
authorizing the implementation of an interim linkage. See Securities 
Exchange Act Release No. 44311, 66 FR 28768 (May 24, 2001).
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    The proposed rule change was published for comment in the Federal 
Register on December 12, 2001.\4\ The Commission received no comments 
on the proposal.
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    \4\ See Securities Exchange Act Release No. 45132 (December 5, 
2001), 66 FR 64330.
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    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange \5\ and, in 
particular, the requirements of section 6 of the Act \6\ and the rules 
and regulations thereunder. The Commission finds specifically that the 
proposed rule change should enable investors effecting transactions on 
the Phlx to obtain better prices displayed on the other exchanges and 
therefore is consistent with the objects of section 6(b)(5) under the 
Act \7\ which requires that exchange rules be designed to promote just 
and equitable principles of trade, to remove impediments to and perfect 
the mechanism for a free and open market and a national market system, 
and, in general, to protect investors and the public interest.
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    \5\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \6\ 16 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(5).
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    It Is Therefore Ordered, pursuant to section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-PHLX-2001-107) be, and hereby 
is approved.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-1701 Filed 1-23-02; 8:45 am]
BILLING CODE 8010-01-M