[Federal Register Volume 70, Number 16 (Wednesday, January 26, 2005)]
[Notices]
[Page 3758]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-280]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-51050; File No. SR-ISE-2004-31]


Self-Regulatory Organizations; International Securities Exchange, 
Inc.; Order Granting Approval of Proposed Rule Change and Amendment No. 
1 Thereto Relating to System-Assisted Quotation Services

January 18, 2005.
    On September 30, 2004, the International Securities Exchange, Inc. 
(``ISE'' or ``Exchange'') submitted to 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 codify in the ISE's rules 
certain services the ISE offers market makers to help them manage their 
quotations. On November 16, 2004, the ISE submitted Amendment No.1 to 
the proposed rule change. The proposed rule change, as modified by 
Amendment No. 1, was published for comment in the Federal Register on 
December 14, 2004.\3\ The Commission received no comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 50813 (December 7, 
2004), 69 FR 74551 (December 14, 2004).
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    After careful consideration, the Commission finds that the proposed 
rule change is consistent with the requirements of the Act and the 
rules and regulations thereunder that are applicable to a national 
securities exchange.\4\ In particular, the Commission believes that the 
proposed rule change is consistent with Section 6(b)(5) of the Act,\5\ 
which requires among other things, that the rules of the Exchange are 
designed to promote just and equitable principles of trade, to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system, and, in general, to protect investors and the 
public interest. The Commission notes that the proposal does not alter 
the obligations of ISE market makers. The proposed rule change codifies 
ISE system functionality which should provide ISE market makers 
assistance in effectively managing their quotations.
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    \4\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\6\ that the proposed rule change (SR-ISE-2004-31) be, and it 
hereby is, approved.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
 [FR Doc. E5-280 Filed 1-25-05; 8:45 am]
BILLING CODE 8010-01-P