[Federal Register Volume 69, Number 114 (Tuesday, June 15, 2004)]
[Notices]
[Pages 33453-33454]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-13415]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-49807; File No. SR-Phlx-2004-22]


Self-Regulatory Organizations; Order Granting Approval of 
Proposed Rule Change by the Philadelphia Stock Exchange, Inc. Relating 
to Susquehanna Indices, LLP Disclaimer

June 4, 2003.
    On March 22, 2004, the Philadelphia Stock Exchange, Inc. (``Phlx'' 
or ``Exchange'') 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 to amend Exchange Rule 1104A, which applies to 
indexes maintained by Susquehanna Indices, LLP.\3\ The rule generally 
provides that Susquehanna makes no warranty, express or implied, to the 
results of SIG Investments Index. The Phlx is proposing to add a new 
index which it trades options on, to the disclaimer in Phlx Rule 1104A, 
the SIG Cable, Media & Entertainment Index.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The Commission notes that it approved Phlx Rule 1104A on 
July 7, 2003. See Securities Exchange Act Release No. 48135 (July 7, 
2003), 68 FR 42154 (July 16, 2003) (approving SR-Phlx-2003-21).
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    The proposed rule change was published for comment in the Federal 
Register on May 3, 2004.\4\ The Commission received no comments on the 
proposal. This order approves the proposed rule change.
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    \4\ See Securities Exchange Act Release No. 49605 (April 22, 
2004), 69 FR 24209.
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    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.\5\ In 
particular, the Commission believes that the proposed rule change is 
consistent with section 6(b)(5) of the Act \6\ in particular, in that 
it is designed to prevent fraudulent and manipulative acts and 
practices, to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in facilitating 
transactions in securities, to remove impediments to and perfect the 
mechanism of a free and open market and a national market system, to 
protect investors and the public interest and is not designed to permit 
unfair discrimination between customers, issuers, brokers, or dealers. 
The Commission believes that the proposed rule change should assist 
investors by clarifying the nature of any warranty, express or implied, 
as to results to be obtained by any person or entity when trading Phlx 
options on the SIG, Cable, Media & Entertainment Index.
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    \5\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-Phlx-2004-22) be, and it 
hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).


[[Page 33454]]


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    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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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 04-13415 Filed 6-14-04; 8:45 am]
BILLING CODE 8010-01-P