[Federal Register Volume 67, Number 162 (Wednesday, August 21, 2002)]
[Notices]
[Page 54249]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-21325]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-46356; File No. SR-NASD-2002-83]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the National Association of Securities Dealers, 
Inc. To Establish Fees Assessed on Non-Members for the Use of Computer-
to-Computer Interface Transmission Control Protocol/Internet Protocol 
Lines That Use Message Queue Series Software

August 15, 2002.
    On June 14, 2002, the National Association of Securities Dealers, 
Inc. (``NASD''), through its subsidiary, The Nasdaq Stock Market, Inc. 
(``Nasdaq''), filed with the Securities and Exchange Commission 
(``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 to establish fees for non-members for the use of 
Computer-to-Computer Interface Transmission Control Protocol/Internet 
Protocol lines that use Message Queue Series (``MQ Series'') software. 
The proposed rule change was published for notice and comment in the 
Federal Register on July 2, 2002.\3\ The Commission received no 
comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 46112 (June 25, 2002), 
67 FR 44488.
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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 association \4\ and, in 
particular, the requirements of section 15A(b)(5),\5\ which requires 
the rules of a national securities association to provide for the 
equitable allocation of reasonable dues, fees and other charges among 
members and issuers and other persons using any facility which the 
association operates or controls. The Commission believes Nasdaq's 
decision to charge firms that opt to use MQ Series a higher fee for 
lines that use the software than for comparable lines that do not, and 
to leave the existing fees unchanged for firms that do not use MQ 
Series, is reasonable.
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    \4\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78o-3(b)(5).
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    It is therefore ordered, pursuant to section 19(b)(2) of the Act 
\6\, that the proposed rule change (SR-NASD-2002-83) be, and it hereby 
is, approved.
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    \6\ 15 U.S.C. 78s(b)(2).

    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. 02-21325 Filed 8-20-02; 8:45 am]
BILLING CODE 8010-01-P