[Federal Register Volume 69, Number 128 (Tuesday, July 6, 2004)]
[Notices]
[Pages 40695-40696]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-15188]


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SECURITIES AND EXCHANGE COMMISSION

[Release 34-49940; File No. 600-23]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Filing and Order Approving an Extension of Temporary 
Registration as a Clearing Agency

June 29, 2004.
    The Securities and Exchange Commission (``Commission'') is 
publishing this notice and order to solicit comments from interested 
persons and to extend the Fixed Income Clearing Corporation's 
(``FICC'') temporary registration as a clearing agency through June 30, 
2005.\1\
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    \1\ On January 1, 2003, MBS Clearing Corporation (``MBSCC'') was 
merged into the Government Securities Clearing Corporation 
(``GSCC'') and GSCC was renamed the Fixed Income Clearing 
Corporation. Securities Exchange Act Release No. 47015 (December 17, 
2002), 67 FR 78531 (December 24, 2002) File Nos. [SR-GSCC-2002-07 
and SR-MBSCC-2002-01].
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    On May 24, 1988, pursuant to sections 17A(b) and 19(a) of the Act 
\2\ and Rule 17Ab2-1 promulgated thereunder,\3\ the Commission granted 
the Government Securities Clearing Corporation (``GSCC'') registration 
as a clearing agency on a temporary basis for a period of three 
years.\4\ The Commission subsequently extended GSCC's registration 
through June 30, 2003.\5\
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    \2\ 15 U.S.C. 78q-1(b) and 78s(a).
    \3\ 17 CFR 240.17Ab2-1.
    \4\ Securities Exchange Act Release No. 25740 (May 24, 1988), 53 
FR 19639.
    \5\ Securities Exchange Act Release Nos. 25740 (May 24, 1988), 
53 FR 19639; 29236 (May 24, 1991), 56 FR 24852; 32385 (June 3, 
1993), 58 FR 32405; 35787 (May 31, 1995), 60 FR 30324; 36508 
(November 27, 1995), 60 FR 61719; 37983 (November 25, 1996), 61 FR 
64183; 38698 (May 30, 1997), 62 FR 30911; 39696 (February 24, 1998), 
63 FR 10253; 41104 (February 24, 1999), 64 FR 10510; 41805 (August 
27, 1999), 64 FR 48682; 42335 (January 12, 2000), 65 FR 3509; 43089 
(July 28, 2000), 65 FR 48032; 43900 (January 29, 2001), 66 FR 8988; 
44553 (July 13, 2001), 66 FR 37714; 45164 (December 18, 2001), 66 FR 
66957; and 46135 (June 27, 2002), 67 FR 44655.
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    On February 2, 1987, pursuant to sections 17A(b) and 19(a) of the 
Act \6\ and Rule 17Ab2-1 promulgated thereunder,\7\ the Commission 
granted MBS Clearing Corporation (``MBSCC'') registration as a clearing 
agency on a temporary basis for a period of 18 months.\8\ The 
Commission subsequently extended MBSCC's registration through June 30, 
2003.\9\
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    \6\ Supra note 2.
    \7\ Supra note 3.
    \8\ Securities Exchange Act Release No. 24046 (February 2, 
1987), 52 FR 4218.
    \9\ Securities Exchange Act Release Nos. 25957 (August 2, 1988), 
53 FR 29537; 27079 (July 31, 1989), 54 FR 34212; 28492 (September 
28, 1990), 55 FR 41148; 29751 (September 27, 1991), 56 FR 50602; 
31750 (January 21, 1993), 58 FR 6424; 33348 (December 15, 1993), 58 
FR 68183; 35132 (December 21, 1994), 59 FR 67743; 37372 (June 26, 
1996), 61 FR 35281; 38784 (June 27, 1997), 62 FR 36587; 39776 (March 
20, 1998), 63 FR 14740; 41211 (March 24, 1999), 64 FR 15854; 42568 
(March 23, 2000), 65 FR 16980; 44089 (March 21, 2001), 66 FR 16961; 
44831 (September 21, 2001), 66 FR 49728; 45607 (March 20, 2002), 67 
FR 14755; and 46136 (June 27, 2002), 67 FR 44655.
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    On July 1, 2003, the Commission issued on order extending FICC's 
temporary registration through June 30, 2004.\10\
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    \10\ Securities Exchange Act Release No. 48116 (July 1, 2003), 
68 FR 41031.
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    On June 9, 2004, FICC requested that the Commission extend FICC's 
temporary registration until such time as the Commission is prepared to 
grant FICC permanent registration.\11\
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    \11\ Letter from Jeffrey Ingber, Managing Director, General 
Counsel, and Secretary, FICC (June 3, 2004).
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    The Commission today is extending FICC's temporary registration as 
a clearing agency in order that FICC may continue to provide its users 
clearing and settlement services as a registered clearing agency. 
During the third quarter of 2004, the Commission expects to publish a 
release requesting comment on granting FICC permanent registration as a 
clearing agency. FICC acts as the central clearing entity for the U.S. 
Government securities trading and financing marketplaces and provides 
for the safe and efficient clearance and settlement of transactions in 
mortgage-backed securities. Interested persons are invited to submit 
written data, views, and arguments concerning the foregoing, including 
whether the proposed rule change is consistent with the Act. Comments 
may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to [email protected]. Please include 
File Number 600-23 on the subject line.

Paper Comments

     Send paper comments in triplicate to Jonathan G. Katz, 
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW., 
Washington, DC 20549-0609.

    All submissions should refer to File Number 600-23. 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, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/

[[Page 40696]]

rules/sro.shtml). 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 Section, 450 Fifth 
Street, NW., Washington, DC 20549. Copies of such filing also will be 
available for inspection and copying at the principal office of FICC 
and on FICC's Web site at http://www.ficc.com. All comments received 
will be posted without change; the Commission does not edit personal 
identifying information from submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number 600-23 and should be submitted on or before 
July 27, 2004.
    It is therefore ordered that FICC's temporary registration as a 
clearing agency (File No. 600-23) be and hereby is extended through 
June 30, 2005.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(1506).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 04-15188 Filed 7-2-04; 8:45 am]
BILLING CODE 8010-01-P