[Federal Register Volume 67, Number 241 (Monday, December 16, 2002)]
[Notices]
[Pages 77105-77106]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-31589]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-46961; File No. SR-BSE-2002-19]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Boston Stock Exchange, 
Inc. Relating to Its Solely Listed Issue Credit

December 6, 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 November 1, 2002, the Boston Stock Exchange, Inc. (``BSE'') 
submitted to the Securities and Exchange Commission (``Commission'') 
the proposed rule change as described in Items I, II, and III below, 
which Items have been prepared by the BSE. On December 3, 2002, the BSE 
filed Amendment No. 1 to the proposal with the Commission.\3\ 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.
    \3\ See letter from John A. Boese, Assistant Vice President, 
BSE, to Nancy Sanow, Assistant Director, Division of Market 
Regulation, Commission, dated December 2, 2002 (``Amendment No. 
1''), which replaced the original Form 19b-4 in its entirety. In 
Amendment No. 1, the BSE made technical corrections to Item 9 of the 
original Form 19b-4 and to the Transaction Fee Schedule provided in 
Exhibit 2.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The BSE proposes to amend the portion of its Floor Operations Fee 
Schedule that pertains to solely listed issue credit.
    The text of the proposed rule change is available at the Office of 
the Secretary, the BSE and 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, the BSE 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 BSE 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 purpose of the proposed rule change is to amend the Floor 
Operations Fee Schedule to increase its Solely Listed Issue credit. The 
BSE seeks to increase from $25 to $50 per issue the monthly credit it 
offers its specialists for trading those issues that are only listed on 
the BSE (``Solely Listed Issues''). The BSE believes that its Solely 
Listed Issue program is an integral part of the products and services 
it offers its customers and proposes this increase as a way to assist 
in maintaining the program.
2. Statutory Basis
    The BSE believes the proposed rule change is consistent with 
section 6 of the Act \4\ in general, and with section 6(b)(4) of the 
Act \5\ in particular, in that it provides for the equitable allocation 
of reasonable dues, fees, and other charges among its issuers.
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    \4\ 15 U.S.C. 78f.
    \5\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The BSE does not believe that the proposed rule change will impose 
any burden on competition.

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

    The BSE has neither solicited nor received comments on the proposed 
rule change.

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

    Because the BSE believes that the proposal establishes or changes a 
due, fee, or other charge, it has become effective pursuant to section 
19(b)(3)(A) of the Act \6\ and subparagraph (f)(2) of Rule 19b-4\7\ 
thereunder. At any time within 60 days of the filing of the 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.
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(2).

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[[Page 77106]]

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 the principal office of the 
BSE. All submissions should refer to File No. SR-BSE-2002-19 and should 
be submitted by January 6, 2003.

    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. 02-31589 Filed 12-13-02; 8:45 am]
BILLING CODE 8010-01-P