Federal Register / Vol. 65, No. 217 / Wednesday, November 8, 2000 / Notices 67021

1The Commission also authorized Cinergy to

issue shares of Common Stock, from time to time

through December 31, 2004, under certain other

plans in accordance with two orders (HCAR No.

27001, Apr. 8, 1999 and HCAR No. 27028, May 19,

1999). Cinergy proposes no changes to the terms of

these orders.

Collision, Central Bridge, New

York, on October 21, 1999.

NEWS MEDIA CONTRACT: Telephone: (202)

314–6100.

Individuals requesting specific

accommodation should contact Mrs.

Barbara Bush at (202) 314–6220 by

Friday, November 9, 2000.

FOR MORE INFORMATION CONTACT: Rhonda

Underwood (202) 314–6065.

Dated: November 3, 2000.

Rhonda Underwood,

Federal Register Liaison Officer.

[FR Doc. 00–28771 Filed 11–6–00; 10:50 am]

BILLING CODE 7533–01–M

OFFICE OF PERSONNEL

MANAGEMENT

The National Partnership Council;

Meeting

AGENCY: Office of Personnel

Management

ACTION: Notice of meeting.

TIME AND DATE: 2:00 p.m., November 15,

2000

Place: Alan K. Campbell Auditorium,

U.S. Office of Personnel Management,

Theodore Roosevelt Building, 1900 E

Street, NW., Washington, DC. The

Campbell Auditorium is located on the

ground floor.

Status: This meeting will be open to

the public. Seating will be available on

a first-come, first-served basis.

Individuals with special access needs

wishing to attend should contact OPM

at the number shown below to obtain

appropriate accommodations.

Matters to be considered: This

meeting will consist of an awards

ceremony. The 2000 John N. Sturdivant

National Partnership Award will be

presented to this year’s winners. The

John N. Sturdivant National Partnership

Award is given in recognition of

outstanding labor-management

partnership activities.

CONTACT PERSON FOR MORE INFORMATION:

Jeffrey Sumberg, Director, Office of

Labor & Employee Relations, Office of

Personnel Management, Theodore

Roosevelt Building, 1900 E Street, NW.,

Room 7H28, Washington, DC 20415–

0001, (202) 606–2930.

Office of Personnel Management.

Janice R. LaChance,

Director.

[FR Doc. 00–28615 Filed 11–7–00; 8:45 am]

BILLING CODE 6325–01–U

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 35–27264]

Filings Under the Public Utility Holding

Company Act of 1935, as Amended

(‘‘Act’’)

November 1, 2000.

Notice is hereby given that the

following filing(s) has/have been made

with the Commission pursuant to

provisions of the Act and rules

promulgated under the Act. All

interested persons are referred to the

application(s) and/or declaration(s) for

complete statements of the proposed

transaction(s) summarized below. The

application(s) and/or declaration(s) and

any amendment(s) is/are available for

public inspection through the

Commission’s Branch of Public

Reference.

Interested persons wishing to

comment or request a hearing on the

application(s) and/or declaration(s)

should submit their views in writing by

November 27, 2000, to the Secretary,

Securities and Exchange Commission,

Washington, D.C. 20549–0609, and

serve a copy on the relevant applicant(s)

and/or declarant(s) at the address(es)

specified below. Proof of service (by

affidavit or, in the case of an attorney at

law, by certificate) should be filed with

the request. Any request for hearing

should identify specifically the issues of

facts or law that are disputed. A person

who so requests will be notified of any

hearing, if ordered, and will receive a

copy of any notice or order issued in the

matter. After November 27, 2000, the

application(s) and/or declaration(s), as

filed or as amended, may be granted

and/or permitted to become effective.

Cinergy Corp. (70–9759)

Cinergy Corporation (‘‘Cinergy’’), 139

East Fourth Street, Cincinnati, Ohio

45202, a registered holding company,

has filed an application-declaration

under sections 6(a), 7, 9(a), 10 and 12(c)

of the Act and rules 42 and 54 under the

Act.

By orders dated December 1, 1995

(HCAR No. 26422) (‘‘1995 Order’’) and

April 17, 1996 (HCAR No. 26505)

(‘‘1996 Order’’), the Commission

authorized Cinergy to issue and sell,

from time to time through December 31,

2000, a total of approximately 30

million shares of Cinergy’s common

stock, $0.01 par value per share

(‘‘Common Stock’’), under various

stock-based employee and director

plans of Cinergy and its subsidiaries.

More specifically, the 1995 Order

authorized Cinergy to issue and sell,

from time to time through December 31,

2000, up to 22,386,696 shares of

Common Stock under various benefit

plans of Cinergy and its subsidiaries,

namely, the Cinergy Corp. Dividend

Reinvestment and Stock Purchase Plan,

the Cinergy Corp. Employee Stock

Purchase and Savings Plan, the Cinergy

Corp. Performance Shares Plan, the

Cinergy Corp. Stock Option Plan, the

Cinergy Corp. Directors’ Deferred

Compensation Plan, the PSI Energy, Inc.

(‘‘PSI’’) Union Employees’ 401(k)

Savings Plan, the PSI Employees’ 401(k)

Savings Plan, the Cincinnati Gas &

Electric Company Deferred

Compensation and Investment Plan and

The Cincinnati Gas & Electric Company

Savings Incentive Plan. The 1996 Order

authorized Cinergy to issue and sell,

from time to time through December 31,

2000, up to seven million shares of

Common Stock under the Cinergy Corp.

Long-Term Incentive Compensation

Plan.1

Effective January 1, 1998: (1) the PSI

Union Employees’ 401(k) Savings Plan

was amended, restated and renamed the

Cinergy Corp. Union Employees’ 401(k)

Plan; (2) the Cincinnati Gas & Electric

Company Savings Incentive Plan was

amended, restated and renamed the

Cinergy Corp. Union Employees’

Savings Incentive Plan; (3) the PSI

Employees’ 401(k) Savings Plan was

amended, restated and renamed the

Cinergy Corp. Non-Union Employees’

401(k) Plan; and (4) the Cincinnati Gas

& Electric Company Deferred

Compensation and Investment Plan was

merged into the Cinergy Corp. NonUnion Employees’ 401(k) Plan. In

addition, since the 1995 Order, the

Cinergy Corp. Performance Shares Plan

has been terminated.

As of August 31, 2000, Cinergy had

600,000,000 shares of Common Stock

authorized for issuance and 158,924,941

shares were outstanding. Since

registering under the Act, Cinergy has

issued approximately 3.8 million shares

of Common Stock under the plans

referred to above.

Cinergy now requests authorization to

issue and sell up to 50 million shares of

Common Stock, from time to time over

a 10-year period commencing with the

date of the Commission’s order in this

file (‘‘Authorization Period’’), under the

following plans (collectively ‘‘Plans’’):

(1) The Cinergy Corp. Dividend

Reinvestment and Stock Purchase Plan;

(2) the Cinergy Corp. Employee Stock

67022 Federal Register / Vol. 65, No. 217 / Wednesday, November 8, 2000 / Notices

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

2 17 CFR 240.19b–4.

3See Securities Exchange Act Release No. 43194

(August 22, 2000), 65 FR 52457 (August 29, 2000).

4Equity trading posts are all trading posts that are

under the jurisdiction of the Equity Floor Procedure

Committee (all trading posts except DJX, NDX, OEX

and SPX), including Designated Primary Market

maker crowds.

5See Securities Exchange Act Release No. 33701

(March 2, 1994), approving SR–CBOE–93–24.

6RG 97–92, the latest Regulatory Circular

reflecting CBOE’s current equity telephone policy,

was approved by the Commission in Securities

Exchange Act Release No. 37876, 61 FR 56728

(November 4, 1996), and modified in Securities

Exchange Act Release No, 39331, 62 FR 62650

(November 24, 1997).

7 In adopting this change, the CBOE wants to

provide more immediate access into its trading

crowds to its customers. The Exchange believes that

this expansion in access is necessary to allow the

CBOE to continue to satisfy is customers in an

increasingly competitive environment.

8The OEX pit telephone policy is set forth in

CBOE’s Regulatory Circular, RG–98–09, which was

approved in Securities Exchange Act Release No.

39435, 62 FR 66157 (December 17, 1997), CBOE’s

current proposal for the equity option post differs

somewhat from its OEX policy contained in the

above-noted Regulatory Circular. RG–98–09 allows

floor brokers to take telephone orders using their

dedicated telephone lines at the OEX pit, while the

current proposal would allow all members to

receive telephone orders (with the outgoing call

limitation) over the equity option post general

telephone lines, with members using PIN access

codes to access the lines. CBOE represents that

space limitations at the equity option post would

prohibit the use of dedicated lines. Further, CBOE

represents that, in contract to the OEX post, ordertaking at the equity option post is not limited to

floor brokers, as Designated Primary Market Makers

(‘‘DPM’’) can also act as floor brokers pursuant to

existing CBOE rules. Telephone call from Timothy

Thompson, Director, Regulatory Affairs, CBOE and

Angelo Evangelou, Attorney, CBOE to Geoffrey

Pemble, Attorney, Division of Market Regulation,

SEC (October 26, 2000).

9 15 U.S.C. 78f(b)(5) and (b)(8).

Purchase and Savings Plan; (3) the

Cinergy Corp. Stock Option Plan; (4) the

Cinergy Corp. Directors’ Deferred

Compensation Plan; (5) the Cinergy

Corp. Long-Term Incentive

Compensation Plan; (6) the Cinergy

Corp. Union Employees’ 401(k) Plan; (7)

the Cinergy Corp. Union Employees’

Savings Incentive Plan; and (8) the

Cinergy Corp. Non-Union Employees’

401(k) Plan. Shares of Common Stock

issued under the Plans from time to

time over the Authorization Period may

be authorized and previously unissued

shares or previously issued shares

reacquired by Cinergy in open market

transactions. In addition, under the

Stock Option Plan and the Long-Term

Incentive Compensation Plan, plan

participants may purchase shares of

Common Stock under certain

circumstances by, among other means,

exchanging shares of Common Stock,

and accordingly, Cinergy also requests

authorization, to the extent required

under the Act, to acquire shares of

Common Stock from plan participants.

Cinergy proposes to apply proceeds of

any shares sold for cash to general

corporate purposes, including

repayment of outstanding indebtedness

and investments in subsidiaries.

However, without further authorization

from the Commission, Cinergy will not

apply any proceeds to acquire exempt

wholesale generators as defined in

section 32 of the Act, or foreign utility

companies as defined in section 33 of

the Act.

For the Commission, by the Division of

Investment Management, under delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–28592 Filed 11–7–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43493; File No. SR–CBOE–

00–04]

Self-Regulatory Organizations;

Chicago Board Options Exchange,

Inc.; Order Granting Approval to

Proposed Rule Change to Amend and

Codify Equity Options Post Telephone

Policy

October 30, 2000.

I. Introduction

On February 25, 2000, the Chicago

Board Options Exchange, Inc. (‘‘CBOE’’

or ‘‘Exchange’’) filed with the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘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

expand the existing CBOE policy

governing the use of telephones at

equity option trading posts to conform

it to the CBOE’s current index option

trading post telephone policy by

allowing for the receipt of orders over

outside telephone lines, from any

source, directly at equity trading posts.

On August 29, 2000, the Commission

published the proposed rule change in

the Federal Register.3 The Commission

received no comments on the proposal.

This order approves the proposed rule

change.

II. Description of the Proposal

In this proposed rule change, CBOE

seeks to expand its existing policy

governing the use of telephones at

equity option trading posts4 to make it

more consistent with the CBOE’s

current index option trading post

telephone policy by allowing for the

receipt of orders over outside telephone

lines, from any source, directly at equity

trading posts, and to incorporate that

policy into the Exchange’s rules. The

proposed rule change is more limited

than the current telephone policy for the

index option post, however, in that it

would generally allow for the receipt of

orders directly at the post over outside

telephone lines only when the order(s)

are placed during outgoing telephone

calls. The Exchange seeks to codify and

amend its current equity option post

telephone policy to make clear to

member and member organizations the

Exchange’s position with respect to the

use of telephones at equity option posts.

The proposed policy would supercede

previous policies concerning the use of

telephones at equity option trading

posts set forth in CBOE Regulatory

Circulars.

Regarding the history of CBOE’s

equity option trading post telephone

policy, the CBOE first proposed a

telephone policy for equity option posts

in 1993.5 That initial policy prohibited

any orders from being transmitted over

the outside telephone lines to the equity

option posts, but allowed for orders to

be transmitted via intra-floor lines from

one point on the Exchange floor to

another. In 1996, the Exchange modified

its telephone policy at equity posts to

allow orders of CBOE market makers to

be received over the outside telephone

lines directly at the trading posts, which

remains the current policy.6 The

proposed rule change would expand

this policy by permitting the receipt of

off-floor orders from any source (i.e.,

members, broker-dealers, non-brokerdealer, or public customers) over

outside telephone lines directly at the

equity trading posts during outgoing

telephone calls, but would limit the

orders to those transmitted to the equity

posts pursuant to a telephone call

initiated at the post (i.e., an outgoing

call).7 According to CBOE, the proposed

rule change would make the CBOE’s

telephone policy for equity option posts

more consistent with the current policy

at the OEX post in place since 1998.8

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 and, in particular,

with Sections 6(b)(5) and 6(b)(8) of the

Act.9 Section 6(b)(5) requires, among

other things, that the rules of an

exchange be designed to prevent

fraudulent and manipulative acts and

practices, to promote just and equitable

principles of trade, to facilitate