Federal Register / Vol. 60, No. 82 / Friday, April 28, 1995 / Notices 21017

5 17 CFR 200.30–3(a)(12) (1994).

1 15 U.S.C. 78s(b)(1) (1988).

2ECMI permits clearing members, among other

things, to input post-trade transactions via OCC’s

Clearing Management and Control System, to

retrieve clearing reports via OCC’s on-line report

inquiry service, and to review information

memoranda and other notices via OCC’s Options

News Network service. Securities Exchange Act

Release No. 32366 (May 25, 1993) 58 FR 31435 [File

No. SR–OCC–93–11] (notice of filing and immediate

effectiveness of proposed rule change).

3OCC will make the fee reduction retroactive to

January 1, 1995, and will credit members’ accounts

for the reduction of the fee. Telephone conversation

between Jean M. Cawley, Special Counsel, OCC,

and Peter R. Geraghty, Senior Counsel, Division of

Market Regulation, Commission (April 18, 1995).

4 15 U.S.C. 78s(b)(3)(A)(ii) (1988).

5 17 CFR 240.19b–4(e)(2) (1994).

6 17 CFR 200.30–3(a)(12) (1994).

Commission, 450 Fifth Street, NW.,

Washington, DC 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 the principal

office of ISCC. All submissions should

refer to File No. SR–ISCC–95–2 and

should be submitted by May 19, 1995.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.5

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–10484 Filed 4–27–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35639; File No. SR–OCC–

95–04]

Self-Regulatory Organizations; The

Options Clearing Corporation; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change Relating to

Enhanced Clearing Member Interface

Fees

April 24, 1995.

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

Securities Exchange Act of 1934 1

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

April 11, 1995, The Options Clearing

Corporation (‘‘OCC’’) 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 OCC. The

Commission is publishing this notice to

solicit comments from interested

persons on the proposed rule change.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

OCC is filing the proposed rule

change to revise its monthly lease fee

charged to clearing members using the

Enhanced Clearing Member Interface

(‘‘ECMI’’) configuration.

II. Self-Regulatory Organization’s

Statement of the Purpose of, and

Statutory Basis for, the Proposed Rule

Change

In its filing with the Commission,

OCC 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. Summaries of the

most significant aspects of such

statements are set forth in sections (A),

(B), and (C) below.

(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 adjust the monthly lease fee

charged to OCC clearing members using

ECMI. ECMI consists of equipment and

software designed to enhance the ability

of OCC’s clearing members to interface

with OCC’s mainframe and local area

network systems.2 The lease fees for

ECMI were based on OCC’s leasing and

other overhead costs and were originally

set at $200.00 per month. At this time,

OCC’s costs associated with providing

ECMI to its clearing members have

decreased on a per unit basis.

Accordingly, as of January 1, 1995, OCC

proposes to reduce to $150.00 per

month its monthly lease fees charged to

clearing members.3

OCC believes the proposed rule

change is consistent with the

requirements of Section 17A of the Act

and the rules and regulations

thereunder because it provides for the

equitable allocation of dues, fees, and

other charges among OCC’s clearing

members.

(B) Self-Regulatory Organization’s

Statement on Burden on Competition

OCC does not believe that the

proposed rule change will have an

impact on or impose a burden on

competition.

(C) Self-Regulatory Organization’s

Statement on Comments on the

Proposed Rule Change Received From

Members, Participants or Others

No written comments have been

solicited or received. OCC will notify

the Commission of any written

comments received.

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) 4 of the Act and pursuant

to Rule 19b–4(e)(2) 5 promulgated

thereunder because the proposal

establishes or changes a due, fee, or

other charge imposed by OCC. At any

time within sixty days of the filing of

such 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 NW.,

Washington DC 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 NW.,

Washington DC 20549. Copies of such

filing will also be available for

inspection and copying at the principal

office of OCC. All submissions should

refer to File No. SR–OCC–95–04 and

should be submitted by May 19, 1995.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.6

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–10486 Filed 4–27–95; 8:45 am]

BILLING CODE 8010–01–M