[Federal Register Volume 68, Number 53 (Wednesday, March 19, 2003)]
[Notices]
[Pages 13347-13348]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-6551]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-47489; File No. SR-Amex-2003-13]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the American Stock Exchange 
LLC To Add iShares S&P 100 Index Fund to the List of Exchange Traded 
Funds for Which the Exchange Pays Non-Reimbursed Fees to Third Parties

March 12, 2003.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and rule 19b-4 thereunder,\2\ notice is hereby given that 
on February 27, 2003, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'' or ``SEC'') the proposed rule change as described in 
Items I, II and III below, which Items have been prepared by the 
Exchange. The Amex has designated this proposal as one establishing or 
changing a due, fee, or other charge imposed by the Exchange under 
section 19(b)(3)(A)(ii) of the Act,\3\ which renders the proposal 
effective upon filing with the Commission. 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\ 15 U.S.C. 78s(b)(3)(A)(ii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Amex proposes to add the iShares S&P 100 Index Fund to the list 
of Exchange Traded Funds (``ETFs'') for which the Exchange pays non-
reimbursed fees to third parties, (included in Note 4 to the Amex 
Equity Fee Schedule). The text of the proposed rule change is available 
at the Amex 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, the Exchange included statements 
concerning the purpose of and basis for its proposal and discussed any 
comments it received regarding the proposal. The text of these 
statements may be examined at the places specified in Item IV below. 
The Amex has prepared summaries, set forth in Sections A, B and C 
below, of the most significant aspects of such statements.

[[Page 13348]]

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

1. Purpose
    The Exchange has included in Note 4 to the Amex Equity Fee Schedule 
a list of ETFs that are subject to transaction charges set forth in 
Item 9 to the Equity Fee Schedule, relating to ETFs for which the 
Exchange pays unreimbursed fees to a third party.\4\ The Exchange is 
adding to this list the iShares S&P 100 Index Fund (Symbol: OEF). This 
fund is listed on the Chicago Board Options Exchange and will be traded 
on the Amex pursuant to unlisted trading privileges.
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    \4\ See Securities Exchange Act Release No. 46764 (November 1, 
2002), 67 FR 68704 (November 12, 2002) (SR-Amex-2002-81).
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2. Statutory Basis
    The Exchange believes that the proposal is consistent with section 
6(b) of the Act \5\ in general and furthers the objectives of section 
6(b)(4) of the Act \6\ in particular in that it is designed to provide 
for the equitable allocation of reasonable dues, fees, and other 
charges among Amex members and issuers and other persons using the 
Amex's facilities.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 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.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The proposed rule change has become effective pursuant to section 
19(b)(3)(A)(ii) of the Act \7\ and subparagraph (f)(2) of rule 19b-4 
thereunder,\8\ because it establishes or changes a due, fee, or other 
charge imposed by the Amex. 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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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
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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 proposal 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 Amex. All 
submissions should refer to file number SR-Amex-2003-13 and should be 
submitted by April 9, 2003.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
Margaret H. McFarland,
Deputy Secretary.
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    \9\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 03-6551 Filed 3-18-03; 8:45 am]
BILLING CODE 8010-01-P