61272 Federal Register / Vol. 69, No. 199 / Friday, October 15, 2004 / Notices 

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b–4.

3The O-Strip is an exchange-traded fund (‘‘ETF’’) 

share that seeks to provide investment results 

corresponding to the newly-launched Standard & 

Poor’s (‘‘S&P’’) 500 O-Strip Index. The S&P 500 OStrip Index consists of all the individual S&P 500 

component securities that are primarily traded in 

the over-the-counter market. The Index currently 

consists of approximately 75 securities, 

representing approximately 15% of the market 

capitalization of the S&P 500 Index.

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044). The interest assumptions 

applicable to valuation dates in 

November 2004 under part 4044 are 

contained in an amendment to part 4044 

published elsewhere in today’s Federal 

Register. Tables showing the 

assumptions applicable to prior periods 

are codified in appendix B to 29 CFR 

part 4044.

Issued in Washington, DC, on this 12th day 

of October 2004. 

Joseph H. Grant, 

Deputy Executive Director and Chief 

Operating Officer, Pension Benefit Guaranty 

Corporation.

[FR Doc. 04–23181 Filed 10–14–04; 8:45 am] 

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Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Pub. L. 94–409, that the 

Securities and Exchange Commission 

will hold the following meeting during 

the week of October 18, 2004: 

A Closed Meeting will be held on 

Tuesday, October 19, 2004 at 10 a.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters may also be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), (8), (9)(B), and 

(10) and 17 CFR 200.402(a)(3), (5), (7), 

(8), 9(ii) and (10), permit consideration 

of the scheduled matters at the Closed 

Meeting. 

Commissioner Glassman, as duty 

officer, voted to consider the items 

listed for the closed meeting in closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Tuesday, October 

19, 2004 will be: 

Formal orders of investigations; 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; 

Regulatory matters regarding financial 

institutions; and 

Amici consideration. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. For further 

information and to ascertain what, if 

any, matters have been added, deleted 

or postponed, please contact: 

The Office of the Secretary at (202) 

942–7070.

Dated: October 12, 2004. 

Jonathan G. Katz, 

Secretary.

[FR Doc. 04–23199 Filed 10–12–04; 4:09 pm] 

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[Release No. 34–50500; File No. SR–Amex–

2004–80] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by the 

American Stock Exchange LLC 

Relating to Transaction Fees in 

Connection With the SPDR O-Strip 

October 7, 2004. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b-4 thereunder, 2

notice is hereby given that on October 

1, 2004, the American Stock Exchange 

LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons.

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to revise 

transaction fees for specialists and 

registered options traders (‘‘ROTs’’) in 

connection with transactions in the 

SPDR O-Strip (‘‘O-Strip’’). 3 The text of 

the revised fee schedule is available at 

the Office of the Secretary, Amex, and 

at the Commission’s Public Reference 

Room.

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange 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. Amex 

has prepared summaries, set forth in 

sections A, B, and C below, of the most 

significant aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Amex recently launched the trading 

of the O-Strip on the Exchange. 

Transaction charges for specialists, 

ROTs, broker-dealers, and customers 

have accordingly been billed at current 

rates existing for ETFs pursuant to the 

existing fee schedule in effect. The 

Exchange now proposes, in connection 

with the O-Strip, to charge specialists 

and ROTs as set forth below in the 

transaction fee schedule:

TRANSACTION CHARGES FOR THE O-STRIP

Specialists Registered traders 

Per Share Side .................................................. $0.0050 ($.50 per 100 shares) ........................ $0.0050 ($.50 per 100 shares) 

Subject to the following per trade maximums: .. $300 (60,000 shares) ....................................... $300 (60,000 shares) 

Transaction charges for specialists are capped at $400,000 per month per specialist unit 

Transaction fees for off-floor brokerdealers and customers will remain as set forth in the existing ETF fee schedule. 

These charges are $0.006 per share 

($0.60 per 100 shares), capped at $100 

per trade (16,667 shares). Accordingly, 

Federal Register / Vol. 69, No. 199 / Friday, October 15, 2004 / Notices 61273

4 15 U.S.C. 78f(b)(4).

5 15 U.S.C. 78s(b)(3)(A)(ii).

6 17 CFR 240.19b–4(f)(2). 7 17 CFR 200.30–3(a)(12).

1 15 U.S.C. 78s(b)(1).

2 17 CFR 240.19b-4.

3See Securities Exchange Act Release No. 50307 

(September 2, 2004), 69 FR 54709.

4See letter to Elizabeth King, Associate Director, 

Division of Market Regulation (‘‘Division’’), 

Commission, from James D. Van De Graaff, Partner, 

Katten Muchin Zavis Rosenman, dated September 

7, 2004; letters to Jonathan G. Katz, Secretary, 

Commission, from Charles B. Cox III, dated 

September 27, 2004, from Todd Silverberg, General 

Counsel, Susquehanna Investment Group, dated 

September 29, 2004, from Simon Lubershane, dated 

September 29, 2004, from Matthew Hinerfeld, 

Managing Director and Deputy General Counsel, 

Citadel Derivatives Group LLC, dated September 30, 

2004, and from Ryan Primmer, Managing Director, 

UBS Securities LLC, dated September 30, 2004.

5See letter from Bill Floyd-Jones, Associate 

General Counsel, Amex, to Nancy Sanow, Assistant 

Director, Division, Commission, dated September 

30, 2004.

6 17 CFR 200.30–3(a)(12).

this proposal seeks to change the 

transaction fees for only Exchange 

specialists and ROTs in connection with 

trading in the O-Strip. 

The Exchange submits that the 

proposal will be effective October 1, 

2004. The Exchange expects the 

proposed transaction fees in connection 

with the O-Strip will recoup the costs 

and provide additional revenue 

associated with the trading of the OStrip. In addition, Amex believes that 

this fee will help to allocate to those 

specialists and ROTs transacting in the 

O-Strip, a fair share of the related costs 

of such ETFs. Accordingly, the 

Exchange believes that the proposed fee 

is reasonable. 

2. Statutory Basis 

Amex believes that the proposed fee 

change is consistent with Section 6(b)(4) 

of the Act 4 regarding the equitable 

allocation of reasonable dues, fees, and 

other charges among exchange members 

and other persons using exchange 

facilities.

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes the proposed 

rule change will impose no 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 were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change establishes or changes a due, fee, 

or other charge imposed by the 

Exchange, it has become effective 

immediately pursuant to Section 

19(b)(3)(A)(ii) of the Act 5 and Rule 19b4(f)(2) thereunder. 6 At any time within 

60 days of the filing of such proposed 

rule change, the Commission may 

summarily abrogate such rule change if 

it appears to the Commission that such 

action is necessary of appropriate in the 

public interest, for the protection of 

investors, or otherwise in the 

furtherance of the purposes of the Act.

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 rulecomments@sec.gov. Please include File 

Number SR–Amex–2004–80 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–Amex–2004–80. 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 

offices of Amex. 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–Amex–

2004–80 and should be submitted on or 

before November 5, 2004.

For the Commission by the Division of 

Market Regulation, pursuant to delegated 

authority. 7

Margaret H. McFarland, 

Deputy Secretary.

[FR Doc. 04–23124 Filed 10–14–04; 8:45 am] 

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[Release No. 34–50499; File No. SR–Amex–

2004–75] 

Self-Regulatory Organizations; Notice 

of Withdrawal of a Proposed Rule 

Change by the American Stock 

Exchange LLC Relating to Revisions to 

Amex Rule 154 

October 6, 2004. 

On August 30, 2004, the American 

Stock Exchange LLC (‘‘Amex’’), 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 amend Amex 

Rule 154 to prohibit specialists from 

charging commissions and fees in 

certain instances. The proposed rule 

change was published for comment in 

the Federal Register on September 9, 

2004. 3 The Commission received six 

comments on the proposal. 4

On October 1, 2004, the Amex 

withdrew the proposed rule change. 5

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.6

Margaret H. McFarland, 

Deputy Secretary.

[FR Doc. 04–23125 Filed 10–14–04; 8:45 am] 

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