Federal Register / Vol. 63, No. 83 /Thursday, April 30, 1998 / Notices 23817

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

2 In Amendment No. 1, the Exchange made

technical corrections to the proposed rule change

and clarified the date of its implementation. See

Letter from Stephanie C. Mullins, Attorney, CBOE,

to Ken Rosen, Attorney, Division of Market

Regulation, Commission, dated April 23, 1998

(‘‘Amendment No. 1’’).

3The CBOE will not begin to implement any of

the proposed changes to Rule 2.30 until June 1,

1998. See Amendment No. 1.

Office of Personnel Management.

Janice R. Lachance,

Director.

[FR Doc. 98–11402 Filed 4–29–98; 8:45 am]

BILLING CODE 6325–01–P

OFFICE OF PERSONNEL

MANAGEMENT

Submission for OMB Review;

Comment Request for Reclearance of

Revised Information Collections: OPM

Form 1496 and 1496A

AGENCY: Office of Personnel

Management.

ACTION: Notice.

SUMMARY: In accordance with the

Paperwork Reduction Act of 1995 (Pub.

L. 104–13, May 22, 1995), this notice

announces that the Office of Personnel

Management (OPM) has submitted to

the Office of Management and Budget a

request for reclearance of a revised

information collection. OPM Forms

1496 and 1496A, Application for

Deferred Retirement (Separations before

October 1, 1956) and Application for

Deferred Retirement (Separations on or

after October 1, 1956) are used by

eligible former Federal employees to

apply for a deferred Civil Service

annuity. Two forms are needed because

there was a major revision in the law

effective October 1, 1956; this affects the

general information provided with the

forms.

Approximately 3,000 OPM Forms

1496 and 1496A will be completed

annually. We estimate it takes

approximately 1 hour to complete the

form. The annual burden is 3,000 hours.

For copies of this proposal, contact

Jim Farron on (202) 418–3208, or E-mail

to jmfarron@opm.gov

DATES: Comments on this proposal

should be received on or before June 1,

1998.

ADDRESSES: Send or deliver comments

to—

Lorraine E. Dettman, Chief, Operations

Support Division, Retirement and

Insurance Service, U.S. Office of

Personnel Management, 1900 E Street,

NW, Room 3349, Washington, DC

20415.

and

Joseph Lackey, OPM Desk Officer,

Office of Information and Regulatory

Affairs, Office of Management and

Budget, New Executive Office

Building, NW, Room 10235,

Washington, DC 20503.

FOR INFORMATION REGARDING

ADMINISTRATIVE COORDINATION—CONTACT:

Mary Beth Smith-Toomey, Budget &

Administrative Services Division, (202)

606–0623.

U.S. Office of Personnel Management.

Janice R. Lachance,

Director.

[FR Doc. 98–11401 Filed 4–29–98; 8:45 am]

BILLING CODE 6325–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–39910; File No. SR–CBOE–

98–09]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change and

Amendment No. 1 Thereto by the

Chicago Board Options Exchange, Inc.

Relating to Trade Match Delayed

Submission Fees

April 24, 1998.

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

Securities Exchange Act of 1934

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

March 4, 1998, the Chicago Board

Options Exchange, Inc. (‘‘CBOE’’ or

‘‘Exchange’’) 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 by the CBOE. On April 20,

1998, the CBOE submitted to the

Commission Amendment No. 1 to the

proposed rule change.2 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 CBOE proposes to amend

Exchange Rule 2.30, Trade Match

Delayed Submission Fee, in order to

reduce the amount of time permitted for

trade submission before the imposition

of fees and to include under the rule, all

types of trades executed on the

Exchange. The text of the proposed rule

change is available at the Office of the

Secretary, CBOE and at the Commission.

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

CBOE 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 CBOE 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

The purpose of the proposed rule

change is to expand the scope of Rule

2.30 to include all types of executed

trades and to reduce the amount of time

under Rule 2.30 in which Exchange

members and clearing firms are assessed

additional fees for late trade

submission.3 As Exchange rules

currently stand, market-makers and

clearing firms are assessed fees for

delayed trade match submission if

eighty percent (80%) of market-maker

in-person trades are not submitted in

less than two (2) hours. The Exchange

proposes to amend this rule to include

all types of trades (not just marketmaker in-person trades) and to require,

by December 1, 1998, that the

submission time for fee assessment be

reduced from two (2) hours to one (1)

hour. The eighty percent (80%) formula

will remain the same, as will existing

protections for extremely high volume

days.

The inclusion of all types of trade

activity under Rule 2.30 is proposed to

begin with the initial reduction of the

time requirement below two (2) hours,

which the Exchange proposes to start on

June 1, 1998. All trades that a member

executes and all trades a clearing firm

has executed for it will be required to

be submitted on a timely basis to avoid

additional fees. Under current rules,

only in-person market-maker trades are

considered under Rule 2.30. In 1991,

when Rule 2.30 was implemented,

certain in-person market-maker trades

were being significantly delayed for

submission to the Exchange’s trade

match system. Over time these delays

were reduced and, in general, marketmaker in-person trades now are received

within two (2) hours. Non-marketmakers trades originally were not

included under Rule 2.30 because

virtually all non-market-maker activity

at that time met the two (2) hour time

requirement. Within the revised time

frames, ultimately one (1) hour, the

Exchange realizes that a small but