Federal Register / Vol. 65, No. 196 / Tuesday, October 10, 2000 / Notices 60235

7 15 U.S.C. 78s(b)(3)(A)(ii).

8 17 CFR 240.19b–4(f)(2).

9 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

3See Securities Exchange Release No. 42357 (Jan.

27, 2000), 65 FR 5383.

4See PCX Rule 5.25(b)(1).

5See, e.g., PCX Rule 5.8(c).

6 In approving this rule proposal, the Commission

notes that it has also considered the proposed rule’s

impact on efficiency, competition, and capital

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

7 15 U.S.C. 78f(b)(5).

8Telephone conversation between Michael

Pierson, Vice President, Regulatory Policy, PCX,

and Kelly Riley, Attorney, Division of Market

Regulation, Commission, on September 12, 2000.

9 15 U.S.C. 78j.

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

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

No written comments were solicited

or received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

The proposed rule change has become

effective pursuant to Section

19(b)(3)(A)(ii) of the Act 7 and

subparagraph (f)(2) of Rule 19b–4

thereunder,8 because it involves a due,

fee, or other charge. 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

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 proposal 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. 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 refer to file number

SR–CHX–00–30, and should be

submitted by October 31, 2000.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.9

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–25868 Filed 10–6–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43404; File No. SR–PCX–

99–50]

Self-Regulatory Organizations; Pacific

Exchange, Inc.; Order Granting

Approval to Proposed Rule Change

Relating to Non-Agency Orders in P/

COAST

October 2, 2000.

I. Introduction

On November 18, 1999, the Pacific

Exchange, Inc. (‘‘PCX’’ or ‘‘Exchange’’)

submitted to the Securities and

Exchange Commission (‘‘Commission’’

or ‘‘SEC’’) 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 allow nonagency orders to be routed through and

executed in the Pacific Computerized

Order Access SysTem (‘‘P/COAST’’).

The proposed rule change was

published for comment in the Federal

Register on February 3, 2000.3 No

comments were received on the

proposal. This order approves the

proposal.

II. Description of Proposal

The P/COAST system is the

Exchange’s communication, order

routing and order execution system for

equity securities. Currently, only agency

orders are permitted to be routed

through, and executed in, the P/COAST

system.4 In the proposed rule change,

the Exchange seeks to abolish the

current rule, and allow both agency and

principal orders to be routed through

and executed in the P/COAST system.

The Exchange is not proposing to

change its existing rules regarding the

priority of bids and offers,5 which do

not currently distinguish between

agency and principal orders.

Accordingly, agency and principal

orders will be able to be routed and

executed through the P/COAST system.

III. Discussion

After careful review, 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.6 In particular, the

Commission believes that the proposed

rule is consistent with the requirements

of Section 6(b)(5) of the Act 7 because it

is designed to help perfect the

mechanism of a free and open market

and is not designed to permit unfair

discrimination between customer and

brokers or dealers.

Under the Exchange’s proposed rule

change, non-agency orders may be

routed through the P/COAST system for

execution. Currently, principal orders

are executed manually on the floor of

the Exchange. The Commission believes

that the proposed rule change should be

beneficial because it will allow brokerdealers to take advantage of the

increased speed associated with the use

of P/COAST, thus providing more

efficient execution of their orders.

However, according to the PCX, orders

of specialists and floor brokers will not

be able to be entered into the P/COAST

system.8

The Commission believes that the

Exchange’s proposal is consistent with

the Act because it does not discriminate

between customers, brokers or dealers:

all orders in a particular stock will

receive the same treatment whether the

order is an agency or non-agency order.

However, orders of PCX members will

still have to comply with Section 11(a)

of the Act.9 Further, the proposal should

facilitate transactions on the Exchange

because all eligible orders will now be

routed automatically by the P/COAST

system. This should lead to more timely

executions of principal orders.

IV. Conclusion

It Is therefore Ordered, pursuant to

Section 19(b)(2) of the Act,10 that the

proposed rule change (SR–PCX–99–50)

is approved.

60236 Federal Register / Vol. 65, No. 196 / Tuesday, October 10, 2000 / Notices

11 17 CFR 200.30–3(a)(12)

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.11

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–25919 Filed 10–6–00; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF STATE

[Public Notice 3432]

Advisory Committee on International

Communications and Information

Policy; Meeting Notice

The Department of State is

announcing the next meeting of its

Advisory Committee on International

Communications and Information

Policy. This is in place of the September

14, 2000 meeting that had to be

postponed.

The Committee provides a formal

channel for regular consultation and

coordination on major economic, social

and legal issues and problems in

international communications and

information policy, especially as these

issues and problems involve users of

information and communication

services, providers of such services,

technology research and development,

foreign industrial and regulatory policy,

the activities of international

organizations with regard to

communications and information, and

developing country interests.

There will be a featured guest speaker

at the meeting who will speak on an

important topic involving international

communications and information

policy.

This meeting will be held on

Thursday, October 26, 2000, from 9:30

a.m.–12:30 p.m. in Room 1107 of the

Main Building of the U.S. Department of

State, located at 2201 ‘‘C’’ Street, NW.,

Washington, DC 20520.

Members of the public may attend

these meetings up to the seating

capacity of the room. While the meeting

is open to the public, admittance to the

State Department Building is only by

means of a pre-arranged clearance list.

In order to be placed on the preclearance list, please provide your

name, title, company, social security

number, date of birth, and citizenship to

Timothy C. Finton at

<fintontc@state.gov>. All attendees for

this meeting must use the 23rd Street

entrance. One of the following valid ID’s

will be required for admittance: any

U.S. driver’s license with photo, a

passport, or a U.S. Government agency

ID. Non-U.S. Government attendees

must be escorted by State Department

personnel at all times when in the State

Department building.

For further information, contact

Timothy C. Finton, Executive Secretary

of the Committee, at (202) 647–5385 or

<fintontc@state.gov>.

Dated: October 3, 2000.

Timothy C. Finton,

Executive Secretary.

[FR Doc. 00–25974 Filed 10–6–00; 8:45 am]

BILLING CODE 4710–45–U

OFFICE OF THE UNITED STATES

TRADE REPRESENTATIVE

Determination Under the Caribbean

Basin Trade Partnership Act

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice.

SUMMARY: The United States Trade

Representative has determined that

Belize, Costa Rica, Dominican Republic,

El Salvador, Guatemala, Haiti,

Honduras, Jamaica, Nicaragua, and

Panama have implemented and follow,

or are making substantial progress

toward implementing and following, the

customs procedures required by the

Caribbean Basin Trade Partnership Act

and, therefore, imports of eligible

products from these countries qualify

for the enhanced trade benefits provided

under the Act.

EFFECTIVE DATE: October 2, 2000.

FOR FURTHER INFORMATION CONTACT:

Christopher Wilson, Director for Central

America and the Caribbean, Office of

the United States Trade Representative,

(202) 395–5190.

SUPPLEMENTARY INFORMATION: The

Caribbean Basin Trade partnership Act

(Title II of the Trade and Development

Act of 2000, Pub. L. No. 106–200)

(CBTPA) expands the trade benefits

available to Caribbean and Central

American countries under the Caribbean

Basin Economic Recovery Act (CBERA).

The CBTPA reduces or eliminates tariffs

and eliminates quantitative restrictions

on certain products that previously were

not eligible for preferential treatment

under the CBERA. The enhanced trade

benefits provided by the CBTPA are

available to imports of eligible products

from countries that (1) are designated as

‘‘CBTPA beneficiary countries,’’ and (2)

have implemented and follow, or are

making substantial progress toward

implementing and following, certain

customs procedures, drawn from

Chapter 5 of the North American Free

Trade Agreement, that allow U.S.

Customs to verify the origin of the

products.

On October 2, 2000, the President

designated all 24 current beneficiaries

under the CBERA as ‘‘CBTPA

beneficiary countries.’’ Proclamation

7351 delegated to the United States

Trade Representative (USTR) the

authority to determine whether the

designated CBTPA beneficiary countries

have implemented and follow, or are

making substantial progress toward

implementing and following, the

customs procedures required by the

CBTPA. The President directed the

USTR to announce any such

determinations in the Federal Register

and to implement any such

determinations in the Harmonized Tariff

Schedule (HTS).

Based on information and

commitments received from beneficiary

countries to date, I have determined that

Belize, Costa Rica, Dominican Republic,

El Salvador, Guatemala, Haiti,

Honduras, Jamaica, Nicaragua, and

Panama have implemented and follow,

or are making substantial progress

toward implementing and following, the

customs procedures required by the

CBTPA. Accordingly, pursuant to the

authority vested in the USTR by

Proclamation 7351, the HTS is modified

as provided in Proclamation 7351 and

as specified in the Annex to this notice,

effective with respect to articles entered,

or withdrawn from warehouse, on or

after October 2, 2000. The USTR will

publish additional notices in the

Federal Register announcing any

determinations that other CBTPA

beneficiary countries have satisfied the

required customs procedures.

Charlene Barshefsky,

United States Trade Representative.

Annex

Pursuant to the authority created in

Proclamation 7351, the HTS is modified

as follows:

1(a). General note 17(a) to the HTS, as

established by the annex to such

Proclamation, is modified by inserting

at the end of the text the following new

sentence and enumeration:

‘‘The following countries have been

determined by the USTR to have satisfied the

customs requirements of the CBTPA and,

therefore, to be afforded the tariff treatment

provided for in this note:

Belize, Costa Rica, Dominican Republic, El

Salvador, Guatemala, Haiti, Honduras,

Jamaica, Nicaragua, Panama’’

(b). General note 17(d) to the HTS, as

established by the annex to such

Proclamation, is modified by striking

‘‘the date announced in a Federal

Register notice issued by the United