Federal Register / Vol. 65, No. 89 / Monday, May 8, 2000 / Notices 26651

18 In reviewing this proposal, the Commission has

considered its impact on efficiency, competition

and capital formation. 15 USC 78c(f). 19 15 U.S.C. 78f(b)(5). 20 15 U.S.C. 78k–1(a)(1)(C).

21 15 U.S.C. 78k–1(a)(1)(D).

22See January 1997 Order, supra note 7.

23See Securities Exchange Act Release No. 42372

(January 31, 2000), 65 FR 6425 (February 9, 2000).

24 15 U.S.C. 78sZ(b)(2). 25 17 CFR 200.30–3(a)(12).

public in accordance with the

provisions of 5 U.S.C. 552, will be

available for inspection and copying at

the Commission’s Public Reference

Room. Copies of such filings will also be

available for inspection and copying at

the principal office of the Exchange. All

submissions should refer to File No.

SR–CHX–00–11 and should be

submitted by May 30, 2000.

IV. Commission’s Findings and Order

Granting Accelerated Approval of

Proposed Rule Change

The Commission finds that the

Exchange’s proposal is consistent with

the requirements of the Act and the

rules and regulations thereunder

applicable to a national securities

exchange.18 Specifically, the

Commission finds that the proposed

rule change is consistent with Section

6(b)(5) 19 of the Act, which requires that

an Exchange have rules designed to

prevent fraudulent and manipulative

acts and practices, 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 also

believes that the proposal is consistent

with Section 11A(a)(1)(C) 20 and

11A(a)(1)(D) 21 of the Act. The proposal

is consistent with Section 11A(a)(1)(C)

in that it seeks to ensure economically

efficient execution of securities

transactions. Moreover, the proposal is

consistent with Section 11A(a)(1)(D) in

that it attempts to foster the linking of

markets for qualified securities through

communication and data processing

facilities.

The Commission notes, however, that

while the Exchange has been working

toward establishing a linkage,

specialists and OTC market makers do

not yet have an effective method of

routing orders to each other. The

Commission expects the Exchange to

continue to work towards establishing a

linkage with the Nasdaq systems as

requested in the January 1997 Order.22

In connection with this effort, the

Commission has requested an update on

the information provided in the

December 21, 1999 and April 27, 2000

reports using the Exchange’s

surveillance system. The Commission

requests that the Exchange supplement

the available trading data so that it can

consider issues concerning the pilot

program, including the circumstances

involving orders that are not

automatically executed through MAX,

whether orders are given the NBBO

shown at the time the order is received

or the NBBO posted at the time the

order is executed, and what

explanations are available for price

disimprovment. The Commission’s is

extending the pilot program through

November 1, 2000 so that the Exchange

may compile this data for the

Commission’s review. The Commission

requests that the Exchange provide a

report addressing the above no later

than August 15, 2000.

Upon approval of SR–CHX–99–27,23

wherein the Exchange last sought an

extension of this pilot, the Commission

also requested that the Exchange rewrite

Article XX, Rule 37 and Article XX,

Rule 43 of the Exchange’s rules so these

rules clearly explain the difference

between how listed (or dually traded)

securities and over-the-counter (or

Nasdaq/NM) securities are routed and

executed by the Exchange, and submit

the new proposed language to the

Commission for review and approval.

Further, the Commission requested that

the Exchange include in its rules an

explanation of how the provisions of the

Exchange’s Best Rule interact with the

Exchange’s Rules governing automatic

execution of orders. The Exchange has

been working with Commission staff in

an effort to revise these rules, and the

Commission expects that these efforts

will continue until the Exchange has

sufficiently clarified these rules for their

members and the public.

Thus, the Commission’s approval of

the pilot extension has several

ramifications. Approval will: (1) Allow

the Exchange to operate the BEST pilot

without interruption; (2) provide a

period for compilation of additional

data; and (3) allow the Exchange

additional time to revise the language of

the existing rules for clarity and ease of

understanding in the public interest and

for protection of investors.

The Commission does not want to

interrupt the current operations of the

Exchange’s pilot while the abovedescribed issues are being addressed.

The Commission, therefore, finds good

cause for approving the proposed rule

change prior to the thirtieth day after

the date of publication of notice of filing

thereof in the Federal Register.

It is therefore ordered, pursuant to

Section 19(b)(2) 24 of the Act that the

proposed rule change (SR–CHX–00–11),

be, and hereby is, approved through

November 1, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.25

Jonathan G. Katz,

Secretary.

[FR Doc. 00–11402 Filed 5–5–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

Sunshine Act Agency Meeting

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: [65 FR 25410, May 1,

2000]

STATUS: Closed meeting.

PLACE: 450 Fifth Street, NW,

Washington, DC.

DATE PREVIOUSLY ANNOUNCED: April 28,

2000.

CHANGE IN THE MEETING: Cancellation of

meeting.

The closed meeting scheduled for

Wednesday, May 3, 2000, at 2 p.m. has

been cancelled.

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: May 3, 2000.

Jonathan G. Katz,

Secretary.

[FR Doc. 00–11473 Filed 5–3–00; 4:10 pm]

BILLING CODE 8010–01–M

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Notice With Respect to List of

Countries Denying Fair Market

Opportunities for Government-Funded

Airport Construction Projects

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice with respect to a list of

countries denying fair market

opportunities for products and suppliers

of the United States in airport

construction procurements.

SUMMARY: Pursuant to section 533 of the

Airport and Airway Improvement Act of

1982, as amended (49 U.S.C. 50104), the

United States Trade Representative

(‘‘USTR’’) has determined not to include

26652 Federal Register / Vol. 65, No. 89 / Monday, May 8, 2000 / Notices

any countries on the list of countries

that deny fair market opportunities for

U.S. products, suppliers, or bidders in

foreign government-funded airport

construction projects.

DATES: Effective May 1, 2000.

ADDRESSES: Office of the United States

Trade Representative, 600 17th Street,

NW, Washington, DC, 20508.

FOR FURTHER INFORMATION CONTACT: John

Ellis, Director of Government

Procurement Issues, (202) 395–3063; or

Stephen Kho, Assistant General

Counsel, (202) 395–3581.

SUPPLEMENTARY INFORMATION: Section

533 of the Airport and Airway

Improvement Act of 1982, as amended

by section 115 of the Airport and

Airway Safety and Capacity Expansion

Act of 1987, Pub. L. 100–223 (codified

at 49 U.S.C. 50104) (‘‘the Act’’), requires

USTR to decide by May 1, 2000,

whether any foreign countries have

denied fair market opportunities to U.S.

products, suppliers, or bidders in

connection with airport construction

projects of $500,000 or more that are

funded in whole or in part by the

governments of such countries. The list

of such countries must be published in

the Federal Register. For the purposes

of the Act, USTR has decided not to

include any countries on the list of

countries that deny fair market

opportunities for U.S. products,

suppliers, or bidders in foreign

government-funded airport construction

projects.

Charlene Barshefsky,

United States Trade Representative.

[FR Doc. 00–11340 Filed 5–5–00; 8:45 am]

BILLING CODE 3190–01–M

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Identification of Countries That Deny

Adequate Protection, or Market

Access, for Intellectual Property Rights

Under Section 182 of the Trade Act of

1974

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice.

SUMMARY: Notice is hereby given that

the United States Trade Representative

(USTR) has submitted its annual report

on the identification of those foreign

countries that deny adequate and

effective protection of intellectual

property rights or deny fair and

equitable market access to United States

persons that rely upon intellectual

property protection, and those foreign

countries determined to be priority

foreign countries, to the Committee on

Finance of the United States Senate and

the Committee on Ways and Means of

the United States House of

Representatives, pursuant to section 182

of the Trade Act of 1974, as amended

(the Trade Act) (19 U.S.C. 2242).

DATES: This report was submitted on

April 28, 2000.

ADDRESSES: Office of the United States

Trade Representative, 600 17th Street,

NW, Washington, DC 20508.

FOR FURTHER INFORMATION CONTACT:

Claude Burcky, Deputy Assistant U.S.

Trade Representative for Intellectual

Property, (202) 395–6864, Donna

DiPaolo, Director for Intellectual

Property, (202) 395–6864, or Stephen

Kho, Assistant General Counsel, (202)

395–3581.

SUPPLEMENTARY INFORMATION: Section

182 of the Trade Act requires USTR to

identify within 30 days of the

publication of the National Trade

Estimates Report all trading partners

that deny adequate and effective

protection of intellectual property rights

or deny fair and equitable market access

to United States persons that rely upon

intellectual property protection. Those

countries that have the most onerous or

egregious acts, policies, or practices that

have the greatest adverse impact (actual

or potential) on the relevant United

States products must be identified as

‘‘priority foreign countries,’’ unless they

are entering into good faith negotiations

or are making significant progress in

bilateral or multilateral negotiations to

provide adequate and effective

protection for intellectual property

rights. In identifying countries in this

manner, the USTR is directed to take

into account the history of intellectual

property laws and practices of the

foreign country, including any previous

identifications as a priority foreign

country, and the history of efforts of the

United States, and the response of the

foreign country, to achieve adequate and

effective protection and enforcement of

intellectual property rights. In making

these determinations, the USTR must

consult with the Register of Copyrights,

the Commissioner of Patents and

Trademarks, and other appropriate

officials of the Federal Government and

take into account information from

other sources, such as information

submitted by interested persons.

On April 28, 2000, USTR identified

59 trading partners that deny adequate

and effective protection of intellectual

property or deny fair and equitable

market access to United States artists

and industries that rely upon

intellectual property protection. USTR

identified Ukraine for potential Priority

Foreign Country designation on August

1, 2000. USTR again designated

Paraguay and China for ‘‘Section 306

monitoring’’ to ensure both countries

comply with the commitments made to

the United States under bilateral

intellectual property agreements.

USTR announced placement of 16

trading partners on the ‘‘Priority Watch

List’’: Argentina, the Dominican

Republic, Egypt, the European Union,

Greece, Guatemala, India, Israel, Italy,

Korea, Malaysia, Peru, Poland, Russia,

Turkey, and Ukraine. USTR placed 39

trading partners on the ‘‘Watch List.’’

Countries that were not mentioned in

the report last year but are on the Watch

List this year include: Armenia,

Azerbaijan, Kazakhstan, Latvia,

Lithuania, Moldova, Tajikistan,

Turkmenistan, and Uzbekistan. In

addition, out-of-cycle reviews will be

conducted of Italy in September, and

Korea and Macau in December 2000.

While El Salvador and the West Bank

and Gaza are not listed, USTR will also

conduct out-of-cycle reviews of each in

September and December 2000,

respectively. Finally, the USTR

announced the initiation of WTO

dispute settlement cases against

Argentina and Brazil, and that it will

take the next step in our dispute with

Denmark and request the establishment

of a WTO panel unless imminent

progress is made.

P. Claude Burcky,

Director of Intellectual Property.

[FR Doc. 00–11341 Filed 5–5–00; 8:45 am]

BILLING CODE 3190–01–M

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Annual Report on Discrimination in

Foreign Government Procurement

Pursuant to Executive Order 13116

(‘‘Title VII’’)

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice.

SUMMARY: Notice if hereby given that the

United States Trade Representative

(‘‘USTR’’) has submitted the annual

report on discrimination in foreign

government procurement, published

herein, to the Committees on Finance

and on Governmental Affairs of the

United States Senate and the

Committees on Ways and Means and on

Government Reform and Oversight of

the United States House of

Representatives, pursuant to the

reinstituted procedures of Title VII of

the Omnibus Trade and

Competitiveness Act of 1988 (‘‘Title