[Federal Register Volume 62, Number 217 (Monday, November 10, 1997)]
[Notices]
[Page 60542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29602]



[[Page 60542]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-39289; File No. SR-CBOE-97-52]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto by 
the Chicago Board Options Exchange, Incorporated Relating to the 
Addition of Martin Luther King, Jr. Day as an Exchange Holiday

October 31, 1997.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act''), notice is hereby given that on October 2, 1997, the 
Chicago Board Options Exchange, Incorporated (``CBOE'' 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. On October 31, 1997, the 
Exchange filed with the Commission Amendment No. 1 to the proposed rule 
change.\2\ The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ Amendment No. 1 provided a statutory basis for the proposed 
rule change. See Letter from Mark A. Koerner, Attorney, Exchange, to 
Michael L. Loftus, Attorney, Division of Market Regulation, 
Commission, dated October 27, 1997.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange seeks to amend Interpretation .03 under Exchange Rule 
6.1 to include Martin Luther King, Jr. Day among the Exchange Holidays 
on which it is closed for business.
    The text of the proposed rule change is available at the Office of 
the Secretary, the Exchange and at the Commission.

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. The Exchange 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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend Interpretation .03 under Rule 6.1 to 
include Martin Luther King, Jr. Day among the Exchange holidays on 
which the Exchange is closed for business. The Exchange will observe 
the annual holiday on the third Monday in January.
2. Statutory Basis
    The Exchange represents that the proposed rule change is consistent 
with Section 6(b) \3\ of the Act, in general, and furthers the 
objectives of Section 6(b)(5) \4\ of the Act, in particular, in that it 
is designed to perfect the mechanism of a free and open market, and to 
protect investors and the public interest.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any inappropriate burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received from Members, Participants, or Others

    The Exchange did not solicit or receive written comments with 
respect to the proposed rule change.
    The foregoing rule change is concerned solely with the 
administration of the Exchange and, therefore, has become effective 
pursuant to Section 19(b)(3)(A) \5\ of the Act and subparagraph (e) of 
Rule 19b-4 \6\ thereunder. At any time within 60 days of the filing of 
the proposed rule change, the Commission may summarily abroagate such 
rule change if it appears to the Commission that such action is 
necessary or appropriate in the public interest, for the protection of 
investors, or otherwise in furtherance of the purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(e).
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IV. Solicitation of Comments

    Intersted persons are invited to submit written data, views, and 
arguments concerning the foregoing. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549. 
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, N.W., 
Washington, D.C. 20549. Copies of such filing will also be available 
for inspection and copying at the principal office of the Exchange. All 
submissions should refer to the File No. SR-CBOE-97-52 and should be 
submitted by December 1, 1997.

    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. 97-29602 Filed 11-7-97; 8:45 am]
BILLING CODE 8010-01-M