[Federal Register Volume 69, Number 29 (Thursday, February 12, 2004)]
[Notices]
[Pages 7030-7031]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-3030]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-49199; File No. 4-443]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the OLPP to Add Boston Stock Exchange, Inc., as a Plan 
Sponsor

February 5, 2004.
    Pursuant to section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 11Aa3-2 thereunder,\2\ notice is hereby 
given that on February 5, 2004, the Boston Stock Exchange, Inc. 
(``BSE'' or ``Exchange'') submitted to the Securities and Exchange 
Commission (``Commission'' or ``SEC'') an amendment to the Plan for the 
Purpose of Developing and Implementing Procedures Designed to 
Facilitate the Listing and Trading of Standardized Options Submitted 
Pursuant to section 11A(a)(3)(B) of the Securities Exchange Act of 1934 
(``OLPP'').\3\ The amendment proposes to add the BSE as a Plan Sponsor 
\4\ of the OLPP. The Commission is publishing this notice to solicit 
comments from interested persons on the proposed OLPP amendment.
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    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 240.11Aa3-2.
    \3\ On July 6, 2001, the Commission approved the OLPP, which was 
proposed by the American Stock Exchange LLC (``Amex''), Chicago 
Board Options Exchange, Inc. (``CBOE''), International Securities 
Exchange LLC (``ISE''), Options Clearing Corporation (``OCC''), 
Philadelphia Stock Exchange, Inc. (``Phlx''), and Pacific Exchange, 
Inc. (``PCX''). See Securities Exchange Act Release No. 34-44521, 66 
FR 36809 (July 13, 2001).
    \4\ A national securities exchange may become a Plan Sponsor if 
it satisfies the requirements of Section 7 of the OLPP. The current 
Plan Sponsors are Amex, CBOE, ISE, OCC, Phlx, and PCX.
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I. Description and Purpose of the Amendment

    The proposed amendment to the OLPP would add the BSE as a Plan 
Sponsor to the OLPP. Section 7 of the OLPP provides that Eligible 
Exchanges \5\ may be admitted as new Plan Sponsors by: (a) Executing a 
copy of the OLPP; (b) providing each then-current Plan Sponsor with a 
copy of such executed OLPP; and (c) effecting an amendment to the OLPP 
by submitting such executed OLPP to the Commission. To become a Plan 
Sponsor, an amendment to the OLPP may be effected by a new Eligible 
Exchange executing a copy of the OLPP, as then in effect, (with the 
only change being the addition of the new Plan Sponsor's name in 
section 9) and submitting such executed OLPP to the SEC. Such amendment 
will be effective when it has been approved by

[[Page 7031]]

the SEC or otherwise becomes effective pursuant to section 11A of the 
Act and Rule 11Aa3-2. The BSE has submitted a signed copy of the OLPP 
to the Commission in accordance with the procedures set forth in the 
OLPP regarding new Plan Sponsors.
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    \5\ The OLPP defines an ``Eligible Exchange'' as a national 
securities exchange registered with the Commission pursuant to 
section 6(a) of the Act, 15 U.S.C. 78f(a), that has effective rules 
for the trading option contracts issued and cleared by the OCC 
approved in accordance with the provisions of the Act and the rules 
and regulations thereunder and is a party to the Plan for Reporting 
of Consolidated Options Last Sale Reports and Quotation Information. 
The Commission has granted BSE an exemption from these requirements 
for qualifying as an Eligible Exchange. See Letter from Robert L.D. 
Colby, Deputy Director, Division of Market Regulation, Commission, 
to George W. Mann, Jr., Executive Vice President and General 
Counsel, BSE, dated February 4, 2004.
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II. Effectiveness of the Proposed OLPP Amendment

    The foregoing proposed OLPP amendment has become effective pursuant 
to Rule 11Aa3-2(c)(3)(iii) \6\ because it involves solely a technical 
or ministerial matter. At any time within sixty days of the filing of 
this amendment, the Commission may summarily abrogate the amendment and 
require that it be refiled pursuant to paragraphs (b)(1) and (c)(2) of 
Rule 11Aa3-2,\7\ if it appears to the Commission that such action is 
necessary or appropriate in the public interest, for the protection of 
investors or the maintenance of fair and orderly markets, to remove 
impediments to, and perfect the mechanisms of, a national market system 
or otherwise in furtherance of the purposes of the Act.
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    \6\ 17 CFR 240.11Aa3-2(c)(3)(iii).
    \7\ 17 CFR 240.11Aa3-2(b)(1) and (c)(2).
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III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the proposed 
amendment 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. Comments may also be submitted electronically at the 
following e-mail address: [email protected]. All comment letters 
should refer to File No. 4-443. This file number should be included on 
the subject line if e-mail is used. To help the Commission process and 
review your comments more efficiently, comments should be sent in hard 
copy or by e-mail but not by both methods. Copies of the submission, 
all subsequent amendments, all written statements with respect to the 
proposed amendment that are filed with the Commission, and all written 
communications relating to the proposed amendment 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 BSE. All submissions 
should refer to File No. 4-443 and should be submitted by March 15, 
2004.

    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)(29).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-3030 Filed 2-11-04; 8:45 am]
BILLING CODE 8010-01-P