[Federal Register Volume 69, Number 30 (Friday, February 13, 2004)]
[Notices]
[Pages 7274-7275]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-3195]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-49205; File No. SR-IFX-2004-01]


Self-Regulatory Organization; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Inet Futures Exchange, LLC 
Relating to Its Name Change From the Island Futures Exchange, LLC to 
the Inet Futures Exchange, LLC

February 6, 2004.
    Pursuant to section 19(b)(7) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-7 under the Act,\2\ notice is hereby given 
that on January 14, 2004, the Inet Futures Exchange, LLC (``IFX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``SEC'' or ``Commission'') the proposed rule change described in items 
I, II, and III below, which items have been prepared by IFX. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons. On December 2, 2003, IFX 
filed the proposed rule change with the Commodity Futures Trading 
Commission (``CFTC''), together with a written certification under 
section 5c(c) of the Commodity Exchange Act \3\ (``CEA'') in which IFX 
indicated that the effective date of the proposed rule change would be 
December 5, 2003.
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    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 17 CFR 240.19b-7.
    \3\ 7 U.S.C. 7a-2(c).
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I. Self-Regulatory Organization's Description of the Proposed Rule 
Change

    The purpose of the proposed rule change is to change the name of 
the Exchange from the Island Futures Exchange, LLC to the Inet Futures 
Exchange, LLC. The text of the proposed rule change is available at the 
Office of the Secretary, Exchange, and at the Commission.

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

    In its filing with the Commission, IFX 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. IFX has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such statements.

[[Page 7275]]

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

1. Purpose
    The purpose of the proposed rule change is to change the name of 
the Island Futures Exchange, LLC to the Inet Futures Exchange, LLC. 
Under the proposed rule change, IFX is amending references in Inet's 
Constitution and Rules that specifically refer to the name of the 
Exchange to reflect the defined term ``Exchange,'' which IFX also 
proposes to modify to accommodate the name change. Moreover, IFX 
proposes a new definition for the term ``Trading System'' to ease the 
identification of the Trading System within Inet's Rules.
2. Statutory Basis
    This filing and the enclosed Rules are submitted pursuant to 
section 19(b)(7) of the Act.\4\ The Rules are consistent with the 
purpose and requirements of the Commodity Futures Modernization Act of 
2000 \5\ and section 6 of the Act of 1934 \6\ in that it reflects the 
name change of the Inet Futures Exchange, LLC from its previous name of 
Island Futures Exchange, LLC.
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    \4\ 15 U.S.C. 78s(b)(7).
    \5\ Pub. L. 106-554, 114 Stat. 2763 (2000).
    \6\ 15 U.S.C. 78f.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    IFX does not believe that the proposed rule change would impose any 
burden on competition.

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

    IFX neither solicited nor received written comment on the proposed 
rule change.

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

    The proposed rule change became effective on December 5, 2003. 
Within 60 days of the date of effectiveness of the proposed rule 
change, the Commission, after consultation with the CFTC, may summarily 
abrogate the proposed rule change and require that the proposed rule 
change be refiled in accordance with the provisions of section 19(b)(1) 
of the Act.\7\
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    \7\ 15 U.S.C. 78s(b)(1).
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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 proposed rule 
change conflicts with the Act. Persons making written submissions 
should file nine copies of the submission 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. SR-IFX-2004-01. 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 hardcopy or by e-mail but not by both methods. Copies of the 
submission, all subsequent amendments, all written statements with 
respect to the proposed rule changes that are filed with the 
Commission, and all written communications relating to the proposed 
rule changes 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 these filings will also 
be available for inspection and copying at the principal office of the 
IFX. All submissions should refer to File No. SR-IFX-2004-01 and should 
be submitted by March 5, 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)(75).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-3195 Filed 2-12-04; 8:45 am]
BILLING CODE 8010-01-P