Federal Register / Vol. 65, No. 238 / Monday, December 11, 2000 / Notices 77407

16 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

3Securities Exchange Act Release No. 41479, 64

FR 31667 (June 11, 1999).

4Securities Exchange Act Release No. 43111

(August 2, 2000), 65 FR 49046 (August 10, 2000)

(‘‘3-Year Extension Proposal’’).

5Securities Exchange Act Release No. 43155, 65

FR 49046 (August 23, 2000). The original comment

period was schedule to expire on August 31, 2000.

See 3-Year Extension Proposal, supra note 4.

6Securities Exchange Act Release No. 43329, 65

FR 58833 (October 2, 2000).

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

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, N.W.,

Washington D.C. 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 NASD. All

submissions should refer to File No.

SR–NASD–00–70 and should be

submitted by January 2, 2001.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.16

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–31384 Filed 12–8–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43647; File No. SR–NYSE–

00–52]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the New

York Stock Exchange, Inc. To Extend

the Pilot Regarding Shareholder

Approval of Stock Option Plans

Through February 28, 2001

November 30, 2000.

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

Securities Exchange Act of 1934

(‘‘Act),’’ 1 and Rule 19b–4 thereunder,2

notice is hereby given that on November

29, 2000, the New York Stock Exchange,

Inc. (‘‘NYSE’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’)

the proposed rule change as described

in items I, II, and III below, which items

have been prepared by the Exchange.

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 Exchange is proposing to extend,

until February 28, 2001, the

effectiveness of the amendments to

Sections 312.01, 312.03 and 312.04 of

the Exchange’s Listed Company Manual

with respect to the definition of a

‘‘broadly-based’’ stock option plan,

which were approved by the

Commission on a pilot basis (‘‘Pilot’’) on

June 4, 1999.3

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

On July 12, 2000, the Exchange filed

a proposed rule change seeking to

extend the effectiveness of the Pilot

until September 30, 2003.4 On August

15, 2000, the Commission, in response

to a commenter’s request, extended the

comment period for the 3-Year

Extension Proposal until September 20,

2000.5 On September 22, 2000, the Pilot

was extended through November 30,

2000 to accommodate the extended

comment period on the 3-Year

Extension Proposal.6

The Exchange now proposes to

further extend the effectiveness of the

Pilot until February 28, 2001 to provide

the Commission and the Exchange with

additional time to review and evaluate

comment letters submitted to the

Commission regarding the 3-Year

Extension Proposal.

2. Basis

The Exchange believes that the

proposed rule change is consistent with

the requirements of Section 6(b)(5) 7 of

the Act because it is designed to prevent

fraudulent and manipulative acts and

practices, to promote just and equitable

principles of trade, to foster cooperation

and coordination with persons engaged

in facilitating transactions in securities,

to remove impediments to and perfect

the mechanism of a free and open

market and a national market system

and, in general, to protect investors and

the public interest.

B, Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any burden on competition that is not

necessary or appropriate in furtherance

of the purposes of the Act.

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

Because the proposed rule change (1)

does not significantly affect the

protection of investors or the public

interest; (2) does not impose any

significant burden on competition; and

(3) does not become operative for 30

days from the date of filing, or such

shorter time as the Commission may

designate if consistent with the

protection of investors and the public

interest, the proposed rule change has

become effective pursuant to Section

77408 Federal Register / Vol. 65, No. 238 / Monday, December 11, 2000 / Notices

8 15 U.S.C. 78s(b)(3)(A).

9 17 CFR 240.19b–4(f)(6).

10As required under Rule 19b–4(f)(6)(iii), the

Exchange provided the Commission with written

notice of its intent to file the proposed rule change

at least five business days prior to the filing date

or such shorter time as designated by the

Commission.

11 17 CFR 240.19b–4(f)(6).

12 17 CFR 240.19b–4(f)(6)(iii).

13 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

3The Fund will be listed and traded pursuant to

Section 703.16, Investment Company Units, of the

Exchange’s Listed Company Manual (‘‘LCM’’).

4The Trust is registered under the Investment

Company Act of 1940, as amended (‘‘1940 Act’’).

The Trust has filed with the Commission a

Registration Statement on the Form N–1/A under

the Securities Act of 1933, as amended and under

the 1940 Act relating to the Fund (File No. 333–

92935 and 811–09729).

5The Index was developed jointly by S&P and the

Exchange, and the Exchange is represented on,

although it does not control, the S&P committee

responsible for Index maintenance. The

Commission notes that the firewall provisions

proposed in SR–NYSE–00–46 will apply to this

Investment Company Unit.

19(b)(3)(A) 8 of the Act and Rule 19b–

4(f)(6) 9 thereunder.10

A proposed Rule change filed under

rule 19b–4(f)(6) 11 normally does not

become operative prior to 30 days after

the date of filing. However, Rule 19b–

4(f)(6)(iii) 12 permits the Commission to

designate a shorter time if such action

is consistent with the protection of

investors and public interest. The

Exchange seeks to have the proposed

rules change become operative on or

before November 30, 2000, in order to

allow the Pilot to continue in effect on

an uninterrupted basis.

The Commission, consistent with the

protection of investors and the public

interest, has determined to make the

proposed rule change operative

immediately through November 30,

2000. The extension of the Pilot will

provide the Commission with additional

time to review and evaluate the 3-Year

Extension Proposal.

The Commission notes that unless the

Pilot is extended, the Pilot will expire

and the provisions in Sections 312.01,

312.03 and 312.04 of the Exchange’s

Listed Company Manual that were

amended in the Pilot will revert to that

which were effective prior to June 4,

1999. The Commission believes that

such a result could lead to confusion.

Based on these reasons, the

Commission believes that it is

consistent with the protection of

investors and the public interest that the

proposed rule change become operative

immediately through February 28, 2001.

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 No.

SR–NYSE–00–52 and should be

submitted by January 2, 2001.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.13

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 00–31385 Filed 12–8–00; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43658; File No. SR–NYSE–

00–53]

Self-Regulatory Organizations; Notice

of Filing and Order Granting

Accelerated Approval of a Proposed

Rule Change by the New York Stock

Exchange, Inc. Relating to the Listing

and Trading of an Exchange Traded

Fund Based on the S&P Global 100

Index

December 1, 2000.

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

Securities Exchange Act of 1934

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on November

29, 2000, the New York Stock Exchange,

Inc. (‘‘NYSE’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (‘‘SEC’’ or ‘‘Commission’’)

the proposed rule change as described

in Items I, II, and III below, which Items

have been prepared by the Exchange.

The Commission’s is publishing this

notice to solicit comments on the

proposed rule change from interested

persons and to approve the proposal on

an accelerated basis.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to list and

trade shares of an exchange traded fund

(the ‘‘Fund’’) based on the S&P Global

100 Index.3 The Exchange is also

proposing the amend NYSE Rule 13 to

reflect procedures with respect to stop

and stop limit orders for Investment

Company Units traded on the Exchange.

The text of the proposed rule change is

available at the Office of the Secretary,

the Exchange or the Commission.

II. Self-Regulatory Organization’s

Statement of the Proposed 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 test 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 list and

trade under Section 703.16, Investment

Company Units of the LCM, shares of

the Fund based on the S&P Global 100

Index (the ‘‘Index’’ or the ‘‘Underlying

Index’’). The Fund is included in the

Share Trust (the ‘‘Trust’’),4 and Barclays

Global Fund Advisors (‘‘BGFA’’), a

subsidiary of Barclays Global Investors,

N.A. (‘‘BGI’’), acts as the advisor (the

‘‘Advisor’’) to the Fund. Standard &

Poor’s (‘‘S&P’’), a division of The

McGraw-Hill Companies, Inc., is the

Index provider. The Index is sponsored

by S&P and the Exchange, with the

additional collaboration of several major

exchanges from around the world.5

The underlying index. A detailed

description of the Underlying Index for

the Fund prepared by S&P was filed as

Exhibit 2. This description includes, but