9472 Federal Register / Vol. 62, No. 41 / Monday, March 3, 1997 / Notices

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

2The Commission has modified parts of these

statements.

3There are no other charges for bank fees,.

comparison, federal pass through or money

movements.

4 15 U.S.C. 78q–1(b)(3)(D).

5 15 U.S.C. 78q–1(b)(3)(A).

6 17 CFR 240.19b–4(e)(2).

7 17 CFR 200.30–3 (a)(12).

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 my 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

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–BSE–96–10 and should be

submitted by March 24, 1997.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–5083 Filed 2–28–97; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–38334; File No. SR–DCC–

97–01]

Self-Regulatory Organizations; Delta

Clearing Corp.; Notice of Filing and

Immediate Effectiveness of a Proposed

Rule Change Relating to the

Amendment of Fees Charges for

Repurchase Agreements

February 24, 1997.

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

Securities Exchange Act of 1934

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

February 5, 1997, Delta Clearing Corp.

(‘‘DCC’’) 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 DCC.

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 purpose of the proposed rule

change is to amend DCC’s fee schedule

for trades of repurchase and reverse

repurchase agreement (‘‘repos’’)

involving U.S. Government Treasury

Securities cleared through DCC.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

DCC included statements concerning

the purpose of and statutory basis for

the proposed rule change. The text of

these statements may be examined at

the places specified in Item IV below.

DCC has prepared summaries, set forth

in sections (A), (B), and (C) below, of the

most significant aspects of such

statements.2

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 amend DCC’s fee schedule

for the clearance of repos on U.S.

Treasury Securities. The new fees will

be the greater of either:

A minimum charge per ticket of $9.00

per round turn 3; or

Term of the trade Fee

Overnight up to fourteen days in length.One-half (.50) basis

point per million per

day on all trades.

Fifteen to thirty-five

days in length.

One-third (.33) basis

point per million per

day on all trades.

Greater than thirtyfive days in length.One-fifth (.20) basis

point per million per

day on all trades.

The proposed rule change complies

with Section 17A(b)(3)(D) of the Act 4

which requires that the rules of a

registered clearing agency provide for

equitable allocation of reasonable dues,

fees, and other charges for services

which it provides to its participants.

DCC believes the proposed rule change

will result in increased utilization of its

clearing services thereby resulting in

more securities transactions being

cleared and settled through a registered

clearing agency environment.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

DCC 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

Comments were neither solicited nor

received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Action

Because the foregoing rule change

establishes or changes a due, fee, or

other charge imposed by DCC, it has

become effective pursuant to Section

19(b)(3)(A)(ii) of the Act 5 and Rule 19b–

4(e)(2) thereunder.6 At any time within

sixty 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.

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 in

the Commission’s Public Reference

Section, 450 Fifth Street, N.W.,

Washington, D.C. 20549. Copies of such

filing will also be available for

inspection and copying at DCC. All

submissions should refer to the File No.

SR–DCC–97–01 and should be

submitted by March 24, 1997.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.7

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 97–5082 Filed 2–28–97; 8:45 am]

BILLING CODE 8010–01–M