[Federal Register Volume 69, Number 212 (Wednesday, November 3, 2004)]
[Notices]
[Pages 64123-64124]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E4-2988]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-50596; File No. SR-NSCC-2004-06]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change to Amend the National Securities 
Clearing Corporation's Fee Schedule To Eliminate Reference to the PC 
Data Entry Fee and To Incorporate Fees for its Mutual Fund Profile and 
Fund/SPEED Service

October 27, 2004.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on October 8, 2004, the 
National Securities Clearing Corporation (``NSCC'') filed with the 
Securities and Exchange Commission (``Commission'') the proposed rule 
change described in Items I, II, and III below, which items have been 
prepared primarily by NSCC. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested parties.
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    \1\ 15 U.S.C. 78s(b)(1).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change consists of revisions to Addendum A to 
NSCC's Rules relating to (i) the deletion of fees for PC Data Entry, 
which was a Web interface that is no longer offered by NSCC, and (ii) 
the incorporation of revised Mutual Fund Service fees that were 
previously approved by the Commission.\2\
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    \2\ Securities Exchange Act Release No. 50095 (July 27, 2004), 
69 FR 46611 [File No. SR-NSCC-2004-03].
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II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of these 
statements.\3\
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    \3\ The Commission had modified the text of the summaries 
prepared by NSCC.
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 (A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of the proposed rule change is to amend Addendum A of 
NSCC's Rules (i) to delete fees for PC Data Entry, which was a Web 
interface that is no longer offered by NSCC, and (ii) to incorporate 
revised fees for Mutual Fund Services that were previously approved by 
the Commission.
    PC Data Entry was a Web interface to NSCC's systems that is no 
longer available. PC Data Entry was replaced in 1999 by PC Web Direct 
for which there is no fee apart from the fees applicable to NSCC 
services which are accessed through PC Web Direct. The fee schedule, 
Addendum A to NSCC's Rules, is therefore amended to delete reference to 
the PC Data Entry fee.
    The revised Mutual Fund Service fees which are incorporated in 
Addendum A by this proposed rule change were approved by the Commission 
by order dated July 27, 2004.\4\ These fees relate to Fund/SPEED 
Account Maintenance transactions and revised Profile subscription fees.
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    \4\ Securities Exchange Act Release No. 50095, 69 FR 46611 [File 
No. SR-NSCC-2004-03].
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    NSCC believes that the proposed rule change is consistent with the 
requirements of Section 17A of the Act \5\ and the rules and 
regulations thereunder applicable to NSCC because the proposed change 
provides for the equitable allocation of dues, fees and other charges 
among NSCC's participants.
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    \5\ 15 U.S.C. 78q-1.
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(B) Self-Regulatory Organization's Statement on Burden on Competition

    NSCC does not believe that the proposed rule change will have an 
impact on or impose a 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 relating to the proposed rule change have been 
solicited or received.

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

    The foregoing rule change has become effective upon filing pursuant 
to Section 19(b)(3)(A)(ii) of the Act \6\ and Rule 19b-4(f)(2) \7\ 
thereunder because the

[[Page 64124]]

proposed rule establishes or changes a due, fee, or other charge. At 
any time within sixty days of the filing of such 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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    \6\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \7\ 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 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 SR-NSCC-2004-06 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 SR-NSCC-2004-06. 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/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 NSCC 
and on NSCC's Web site at http://www.nscc.com/legal. 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 SR-NSCC-2004-06 and should be 
submitted on or before November 24, 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)(12).
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J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E4-2988 Filed 11-2-04; 8:45 am]
BILLING CODE 8010-01-P