[Federal Register Volume 70, Number 144 (Thursday, July 28, 2005)]
[Notices]
[Page 43733]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-4014]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52083; File No. SR-PCX-2005-67]


Self-Regulatory Organizations; Pacific Exchange, Inc.; Order 
Approving Proposed Rule Change Relating to Exchange Fees and Charges

July 20, 2005.
    On May 6, 2005, the Pacific Exchange, Inc. (``PCX'' or 
``Exchange''), through its wholly-owned subsidiary PCX Equities, Inc. 
(``PCXE''), filed with the Securities and Exchange Commission 
(``Commission'') a proposed rule change pursuant to section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ to modify the list of eligible strategies that apply to 
Option Strategy Executions retroactive to January 1, 2005. The proposed 
rule change was published for comment in the Federal Register on June 
14, 2005.\3\ The Commission received no comments on the proposal. This 
order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 51795 (June 7, 
2005), 70 FR 34511.
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    After careful review, the Commission finds that the proposal is 
consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities exchange.\4\ 
In particular, the Commission finds that the proposed rule change is 
consistent with the requirements of section 6(b)(5) of the Act \5\ and 
the rules and regulations thereunder because it is designed to foster 
cooperation and coordination with persons engaged in facilitating 
transactions in securities, to promote just and equitable principles of 
trade and 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.
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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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    Specifically, the Commission believes that the Exchange's proposal 
to retroactively modify certain transaction fees associated with its 
short-term interest spread transactions should allow the PCX to 
continue to attract liquidity and conform the Exchange's fees and rates 
to those previously approved under the Option Strategy Execution rate 
plan.
    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\6\ that the proposed rule change, (SR-PCX-2005-67) be, and 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. E5-4014 Filed 7-27-05; 8:45 am]
BILLING CODE 8010-01-P