67672 Federal Register / Vol. 62, No. 248 / Monday, December 29, 1997 / Notices

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

2 15 U.S.C. 78f(b).

3 15 U.S.C. 78f(b)(4).

4 15 U.S.C. 78s(b)(3)(A).

5 17 CFR 240.19b–4.

6 17 CFR 200.30–3(a)(12).

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

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39462; File No. SR–Amex–

97–47]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

American Stock Exchange, Inc.

Relating to a Fee Rebate

December 17, 1997.

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

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

December 16, 1997, the American Stock

Exchange, Inc. (‘‘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 selfregulatory organization. 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 American Stock Exchange is

issuing a one-time credit against the

Exchange’s monthly Floor Facility Fee

for those members who were charged

such fee during 1997 (the fee is at a rate

of $1,400.00 per annum for regular and

option principal members and $700.00

per annum for limited trading permit

holders).

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

self-regulatory organization 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 self-regulatory organization 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

As the Exchange has had a rewarding

year from a financial perspective, it has

decided to issue a one-time credit

against its monthly Floor Facility Fee

for those members who were charged

such fee during 1997 (the fee is at a rage

of $1,400.00 per annum for regular and

option principal members and $700.00

per annum for limited trading permit

holders).

2. Statutory Basis

This Exchange represents that

proposed rule change is consistent with

section 6(b) of the Act,2 in general, and

furthers the objectives of Section

6(b)(4) 3 in particular, in that it provides

for the equitable allocation of reasonable

dues, fees, and other charges among the

Exchange’s members and other persons

using its facilities.

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 has neither solicited

nor received written comments on the

proposed rule change.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The foregoing rule change constitutes

or changes a due, fee, or other charge

imposed by the Exchange and, therefore,

has become effective pursuant to

Section 19(b)(3)(A) of the Act 4 and

subparagraph (e) of Rule 19b–4

thereunder.5

At any time within 60 days of the

filing of the proposed rule change, the

Commission may summarily abrogate

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

purpose of the Act.

IV. Solicitation of Comments

Interested 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 at

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing also will be available for

inspection and copying at the principal

office of the American Stock Exchange.

All submissions should refer to File

No.SR–Amex–97–47 and should be

submitted by January 20, 1998.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–33711 Filed 12–24–97; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39448; File No. SR–

MBSCC–97–6]

Self-Regulatory Organizations; MBS

Clearing Corporation; Notice of Filing

and Order Granting Accelerated

Approval of Proposed Rule Change

Relating to Trade Restrictions Between

Accounts and Transfer of Trades

December 15, 1997.

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

Securities Exchange Act of 1934

(‘‘Act’’),1 notice is hereby given that on

September 15, 1997, MBS Clearing

Corporation (‘‘MBSCC’’) filed with the

Securities and Exchange Commission

(‘‘Commission’’) and on September 24,

1997, amended the proposed rule

change (File No. SR–MBSCC–97–6) as

described in Items I and II below, which

items have been prepared primarily by

MBSCC. The Commission is publishing

this notice and order to solicit

comments from interested persons and

to grant accelerated approval on the

proposed rule change.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The proposed rule change will amend

MBSCC’s rules to incorporate

previously approved procedures

regarding trade restrictions between

accounts and transfer of trades.