[Federal Register Volume 65, Number 234 (Tuesday, December 5, 2000)]
[Notices]
[Pages 75985-75986]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-30878]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-43634; File No. SR-DTC-00-15]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to DTAX Fees in Connection With Providing Internet

November 29, 2000.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\, notice is hereby given that on, November 2, 2000, The 
Depository Trust Company (``DTC'') 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 
primarily by DTC. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested parties.
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    \1\ 15 U.S.C. 78s(b)(1).
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The proposed rule change will allow DTC to modify its current fees 
for its domestic tax reporting service (``DTAX'') in connection with 
providing Internet access to the DTAX information database.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, DTC included statements 
concerning

[[Page 75986]]

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. 
DTC has prepared summaries, set forth in sections (A), (B), and (C) 
below, of the most significant aspects of these statements.\2\
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    \2\ The Commission has modified the text of the summaries 
prepared by DTC.
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(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of the proposed rule change is to revise current fees 
for DTAX \3\ in connection with providing Internet access to the DTAX 
information database.
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    \3\ For a description of DTAX, refer to Securities Exchange Act 
Release No. 41105 (February 25, 1999), 64 FR 10523 (March 4, 1999) 
[File No. DTC-99-02].
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    DTAX is a data service containing tax information on distributions 
received with respect to domestic securities. It is available through 
DTC's PTS and CCF facilities and effective on or about December 1, 
2000, will also be accessible over the Internet through DTC's website.
    Annual subscription fees for DTAX accessed over the Internet will 
be as follows:
    $4,999  Unlimited interactive inquiries and master file download of 
all available CUSIPs.
    $999  Unlimited interactive inquiries.
    Initially, DTAX will be available only to participants although 
usage may be expanded to include non-participant customers at a later 
date.\4\
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    \4\ Before expanding access to non-participants, DTC will file a 
proposed rule change under Section 19(b) of the Act.
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    The proposed rule change is consistent with the requirements 
Section 17A of the Act and the rules and regulations thereunder 
applicable to DTC because fees will be equitably allocated among users 
of DTC services.

(B) Self-Regulatory Organization's Statement on Burden on Competition

    DTC perceives no impact on competition by reason of the proposed 
rule change.

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

    Written comments from DTC participants or others have not been 
solicited or received on the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing 
for Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act and Rule 19b-4(f)(2) thereunder, because the 
proposed rule change is changing a due, fee or other charge. At any 
time within 60 days of the filing of such 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 proposed rule 
change 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 Section, 450 Fifth Street, NW., 
Washington, DC 20549. Copies of such filing also will be available for 
inspection and copying at the principal office of DTC. All submissions 
should refer to File No. SR-DTC-00-15 and should be submitted by 
December 26, 2000.

    For the Commission by the Division of Market Regulations, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-30878 Filed 12-04-00; 8:45 am]
BILLING CODE 8010-01-M