[Federal Register Volume 68, Number 38 (Wednesday, February 26, 2003)]
[Notices]
[Page 8956]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-4504]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-47383; File No. SR-Phlx-2002-79]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the Philadelphia Stock Exchange, Inc., Relating 
to the Application Fee and the ETP Application Fee

February 20, 2003.
    On December 17, 2002, the Philadelphia Stock Exchange, Inc. 
(``Phlx''), 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 relating to its Application and ETP Application 
Fees. Notice of the proposed rule change was published for comment in 
the Federal Register on January 17, 2003.\3\ No comments were received 
on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 47148 (January 9, 
2003), 68 FR 2614.
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    In order to generate additional revenue, the Exchange has proposed 
to amend its schedule of dues, fees and charges to increase its current 
Application Fee from $200 to $350. The Exchange also proposes to delete 
a separate reference to the ETP Application Fee in order to prevent 
confusion.
    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.\4\ 
Specifically, the Commission believes that the proposal is consistent 
with section 6(b)(4) of the Act,\5\ in that it equitably allocates 
reasonable dues, fees, and other charges among Exchange members and 
issuers and other persons using its facilities, and that it fairly 
allocates costs associated with application processing to those 
individuals and firms making such applications.
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    \4\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition, and capital 
formation. 15 U.S.C. 78(c)(f).
    \5\ 15 U.S.C. 78f(b)(4).
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    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\6\ that the proposed rule change (File No. SR-Phlx-2002-79) 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. 03-4504 Filed 2-25-03; 8:45 am]
BILLING CODE 8010-01-P