Federal Register / Vol. 69, No. 26 / Monday, February 9, 2004 / Notices 6009

7 In approving this rule, the Commission notes 

that it has considered its impact on efficiency, 

competition, and capital formation. 15 U.S.C. 78c(f).

8 15 U.S.C. 78f(b).

9 15 U.S.C. 78f(b)(4).

10 15 U.S.C. 78s(b)(2).

11 Id.

12 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. 48889 

(December 5, 2003), 68 FR 69736.

4 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. 15 U.S.C. 78c(f).

5 15 U.S.C. 78o–3(b)(5).

6 15 U.S.C. 78s(b)(2).

7 17 CFR 200.30–3(a)(12).

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were either 

solicited or received with respect to the 

proposed rule change. 

III. 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. 

Persons making written submissions 

should file six copies thereof with the 

Secretary, Securities and Exchange 

Commission, 450 Fifth Street, NW., 

Washington, DC 20549–0609. 

Comments may also be submitted 

electronically at the following e-mail 

address: rule-comments@sec.gov. All 

comment letters should refer to File No. 

SR–CBOE–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, comments 

should be sent in hardcopy or by e-mail 

but not by both methods. 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 

Room. Copies of such filing will also be 

available for inspection and copying at 

the principal office of the Exchange. All 

submissions should be submitted by 

March 1, 2004. 

IV. Commission’s Findings and Order 

Granting Accelerated Approval of 

Proposed Rule Change 

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, applicable 

to a national securities exchange,7 and, 

in particular, with the requirements of 

Section 6(b) of the Act 8 and the rules 

and regulations thereunder. The 

Commission finds that the proposed 

rule change is consistent with Section 

6(b)(4) of the Act,9 which requires that 

the rules of the Exchange provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members and other persons using its 

facilities. The Commission believes that 

the extension of the CBOE’s Linkage fee 

pilot until July 31, 2004 will give the 

Exchange and the Commission further 

opportunity to evaluate whether such 

fees are appropriate.

The Commission finds good cause, 

pursuant to Section 19(b)(2) of the 

Act,10 for approving the proposed rule 

change prior to the thirtieth day after 

the date of publication of the notice of 

the filing thereof in the Federal 

Register. The Commission believes that 

granting accelerated approval will 

preserve the Exchange’s existing pilot 

program for Linkage fees without 

interruption as the CBOE and the 

Commission further consider the 

appropriateness of Linkage fees.

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,11 that the 

proposed rule change (SR–CBOE–2004–

06) is hereby approved on an 

accelerated basis for a pilot period to 

expire on July 31, 2004.

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.12

Margaret H. McFarland, 

Deputy Secretary.

[FR Doc. 04–2696 Filed 2–6–04; 8:45 am] 

BILLING CODE 8010–01–P

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–49169; File No. SR–NASD–

2003–178] 

Self-Regulatory Organizations; Order 

Granting Approval of Proposed Rule 

Change by the National Association of 

Securities Dealers, Inc. To Modify 

Certain Listing Fees for Foreign 

Issuers and To Make a Technical 

Change to the Rule Pertaining to 

Record-Keeping Fees for Issuers 

Listed on the Nasdaq SmallCap Market 

February 2, 2004. 

On December 3, 2003, the National 

Association of Securities Dealers, Inc. 

(‘‘NASD’’ or ‘‘Association’’), through its 

subsidiary, the Nasdaq Stock Market, 

Inc. (‘‘Nasdaq’’), filed with 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 

modify certain listing fees for foreign 

issuers and to make a technical change 

to the rule that pertains to recordkeeping fees for issuers listed on The 

Nasdaq SmallCap Market.

The proposed rule change was 

published for comment in the Federal 

Register on December 15, 2003.3 The 

Commission received no comments on 

the proposal. This order approves the 

proposed rule change.

The Commission finds that the 

proposed rule change is consistent with 

the requirements of the Act and the 

rules and regulations thereunder 

applicable to a national securities 

association.4 In particular, the 

Commission believes that the proposed 

rule change is consistent with section 

15A(b)(5) of the Act,5 in particular, in 

that the proposal provides for the 

equitable allocation of reasonable dues, 

fees, and other charges among members 

and issuers and other persons using any 

facility or system which the NASD 

operates or controls. Specifically, the 

Commission believes that the revised 

fee schedules should reduce the current 

disparity in the entry and annual fees 

that are paid by Nasdaq issuers.

It is therefore ordered, pursuant to 

section 19(b)(2) of the Act,6 that the 

proposed rule change (SR–NASD–2003–

178) be, and it hereby is, approved.

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.7

Margaret H. McFarland, 

Deputy Secretary.

[FR Doc. 04–2695 Filed 2–6–04; 8:45 am] 

BILLING CODE 8010–01–P