Federal Register / Vol. 60, No. 28 / Friday, February 10, 1995 / Notices 8101

the disclosure of which would seriously

compromise the development by the

United States Government of trade

policy, priorities, negotiating objectives

or bargaining positions with respect to

the operation of any trade agreement

and other matters arising in connection

with the development, implementation

and administration of the trade policy of

the United States. The meeting will be

open to the public and press from 1:15

p.m. to 2:00 p.m. when trade policy

issues will be discussed. Attendance

during this part of the meeting is for

observation only. Individuals who are

not members of the committee will not

be invited to comment.

DATES: The meeting is scheduled for

February 9, 1995, unless otherwise

notified.

ADDRESSES: The meeting will be held at

the Sheraton-Carlton Hotel, located at

16th and K streets, NW., Washington,

DC, unless otherwise notified.

FOR FURTHER INFORMATION CONTACT:

Michaelle Burstin, Director of Public

Liaison, Office of the United States

Trade Representative, (202) 395–6120.

Michael Kantor,

United States Trade Representative.

[FR Doc. 95–3336 Filed 2–9–95; 8:45 am]

BILLING CODE 3190–01–M

[Docket No. 301–98]

Initiation of Section 302 Investigation

Concerning Certain Discriminatory

Canadian Communications Practices;

Proposed Determination; and Request

for Public Comment

AGENCY: Office of the United States

Trade Representative.

ACTION: Notice of initiation of

investigation under section 302(a) of the

Trade Act of 1974, as amended (19

U.S.C. 2412(a)); notice of proposed

determination; request for written

comment.

SUMMARY: The United States Trade

Representative (USTR) has initiated an

investigation under section 302(a) of the

Trade Act of 1974, as amended (the

Trade Act), with respect to certain acts,

policies and practices of the

Government of Canada that have

resulted in the denial of market access

for U.S.-owned programming services to

be distributed in Canada via cable

carriage and in the termination of the

authorization of a U.S.-owned

programming service, Country Music

Television (CMT), to be distributed in

Canada via cable carriage. The USTR

invites written comments from the

public on the matters being investigated,

particularly with respect to the amount

of burden or restriction on U.S.

commerce caused by the Canadian

government’s acts, policies and

practices. In addition, the USTR is

seeking public comment concerning a

proposed determination that certain

acts, policies and practices of Canada

with respect to the granting or

termination of authorizations for U.S.-

owned programming services to be

distributed in Canada via cable carriage

are unreasonable or discriminatory and

constitute a burden or restriction on

U.S. commerce.

DATES: This investigation was initiated

on February 6, 1995. Written comments

from the public are due on or before

noon on March 6, 1995.

ADDRESSES: Office of the United States

Trade Representative, 600 17th Street,

N.W., Washington, D.C. 20506.

FOR FURTHER INFORMATION CONTACT:

Claude Burcky, Director for Canadian

Affairs, (202) 395–3412, or Vanessa

Sciarra, Assistant General Counsel,

(202) 395–7305.

SUPPLEMENTARY INFORMATION: On

December 23, 1994, CMT filed a petition

pursuant to Section 302(a) of the Trade

Act alleging that acts, policies and

practices of the Canadian government

regarding the authorization for

distribution via cable carriage of U.S.-

owned programming services are

discriminatory and are actionable under

Section 301.

Section 302(a) of the Trade Act

authorizes the USTR to initiate an

investigation under chapter 1 of Title III

of the Trade Act (commonly referred to

as ‘‘section 301’’), in response to the

filing of a petition pursuant to Section

302(a)(1). Matters actionable under

section 301 include, inter alia, acts,

policies, and practices of a foreign

country that are unreasonable or

discriminatory and burden or restrict

U.S. commerce. An act, policy or

practice is unreasonable if the act,

policy or practice, while not necessarily

in violation of, or inconsistent with, the

international legal rights of the United

States, is otherwise unfair or

inequitable. Unreasonable acts, policies

or practices include, inter alia, denial of

fair and equitable market opportunities.

On February 6, 1995, the USTR

determined that an investigation should

be initiated to determine whether

certain acts, policies or practices of the

Government of Canada that have

resulted in the denial of market access

for U.S.-owned programming services to

be distributed in Canada via cable

carriage and in the termination of the

authorization of a U.S.-owned

programming service to be distributed

in Canada via cable carriage are

unreasonable or discriminatory and

burden or restrict U.S. commerce. The

acts, policies or practices at issue

include the policy of the Canadian

Radio-television and

Telecommunications Commission

(CRTC), set forth in Public Notice CRTC

1984–81, to terminate authorizations of

non-Canadian-owned programming

services which, in the CRTC’s opinion,

could be considered either totally or

partially competitive with existing or

newly-available Canadian-owned

programming services. This policy

limits the ability of U.S.-owned

programming services to compete in the

Canadian market and acts as a

disincentive to such service providers to

attempt to enter the Canadian market.

Consultations and Proposed

Determination

Pursuant to section 303(a) of the

Trade Act, the USTR has requested

consultations with the Government of

Canada concerning the issues under

investigation. USTR will seek

information and advice from the

appropriate representatives provided for

under section 135 of the Trade Act in

preparing the U.S. presentations for

such consultations.

If the issues which are the basis of

this investigation are not resolved

expeditiously, the USTR proposes to

determine pursuant to Section 304(a)(1)

of the Trade Act that acts, policies and

practices of the Canadian Government

with respect to the granting or

termination of authorizations for U.S.-

owned programming services to be

distributed in Canada via cable carriage

are unreasonable or discriminatory and

constitute a burden or restriction on

U.S. commerce.

If this determination is affirmative,

the USTR must also determine what

action would be appropriate under the

statute. Actions that would be permitted

in the case of an affirmative

determination include action to

suspend, withdraw or prevent the

application of benefits of trade

agreement concessions to Canada;

imposition of duties or other import

restrictions on goods of Canada or fees

or restrictions on services of Canada;

and restriction or denial of service

sector access authorizations with

respect to services of Canada.

Public Comment: Requirements for

Submissions

Interested persons are invited to

submit written comments concerning

the issues raised in the petition and any

other submissions to USTR in this

investigation. In particular, comments

are invited regarding (i) The acts,
8102 Federal Register / Vol. 60, No. 28 / Friday, February 10, 1995 / Notices

1 15 U.S.C. § 78s(b)(1) (1988).

2 17 CFR 240.19b–4 (1993).

3A ‘‘seller’s option’’ trade is defined in Article

XX, Rule 9(c) of the CHX Rules as one for delivery

within the time specified in the option.

4 15 U.S.C. § 78f(b) (1988).

5See, e.g., NYSE Rule 124(B).

6 15 U.S.C. § 78s(b)(2)(1988).

7 17 CFR 200.30–3(a)(12) (1993).

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

policies and practices of the

Government of Canada that are the

subject of this investigation; (ii) the

amount of burden or restriction on U.S.

commerce caused by these acts, policies

and practices; (iii) the determinations

required under section 304 of the Trade

Act; and (iv) appropriate action under

Section 301 which could be taken in

response.

Comments must be filed in

accordance with the requirements set

forth in 15 CFR 2006.8(b) (55 FR 20593)

and are due no later than noon on

March 6, 1995. Comments must be in

English and provided in twenty copies

to: Sybia Harrison, Staff Assistant to the

Section 301 Committee, Room 223,

Office of the United States Trade

Representative, 600 17th Street, NW,

Washington, DC 20506.

Comments will be placed in a file

(Docket 301–98) open to public

inspection pursuant to 15 CFR 2006.13,

except confidential business

information exempt from public

inspection in accordance with 15 CFR

2006.15. Confidential business

information submitted in accordance

with 15 CFR 2006.15 must be clearly

marked ‘‘BUSINESS CONFIDENTIAL’’

in a contrasting color ink at the top of

each page on each of 20 copies, and

must be accompanied by a

nonconfidential summary of the

confidential information. The

nonconfidential summary shall be

placed in the file that is open to public

inspection.

Copies of the public version of the

petition and other relevant documents

are available for public inspection in the

USTR Reading Room. An appointment

to review the docket (Docket No. 301–

98) may be made by contacting Brenda

Webb at (202) 395–6186. The USTR

Reading Room is open to the public

from 10 a.m. to 12 noon and 1 p.m. to

4 p.m., Monday through Friday, and is

located in Room 101, Office of the

United States Trade Representative, 600

17th Street, NW., Washington, DC

20506.

Irving A. Williamson,

Chairman, Section 301 Committee.

[FR Doc. 95–3396 Filed 2–9–95; 8:45 am]

BILLING CODE 3190–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–35335; File No. SR–CHX–

94–23]

Self-Regulatory Organizations;

Chicago Stock Exchange, Inc.; Order

Granting Approval to Proposed Rule

Change Relating to Odd-Lot

Transactions

February 6, 1995.

On November 10, 1994, the Chicago

Stock Exchange, Inc. (‘‘CHX’’ or

‘‘Exchange’’) submitted to the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘Commission’’), pursuant to Section

19(b)(1) of the Securities Exchange Act

of 1934 (‘‘Act’’) 1 and Rule 19b–4

thereunder,2 a proposed rule change to

permit differentials to be charged for

certain odd-lot trades..

The proposed rule change was

published for comment in Securities

Exchange Act Release No. 35048

(December 2, 1994), 59 FR 63844

(December 9, 1994). No comment letters

were received.

Currently, Article XXXI, Rule 9

dealing with execution of odd-lot orders

provides that odd-lots must be executed

at the best bid or offer, similar to round

lot executions. The rule does not permit

odd-lot specialists to charge

differentials. The rule change allows the

Committee on Floor Procedure to

determine that a differential may be

charged for: (1) an odd-lot ‘‘seller’s

option’’ trade,3 (2) an odd-lot order for

cash or ‘‘next day’’ delivery, (3) an oddlot order for additional settlement

periods, and (4) an odd-lot order in an

issue in which a differential is charged

in the primary market. If the Committee

on Floor Procedures determines to allow

a differential to be charged under

number 1, 2, or 3 above, all CHX oddlot specialists may charge differentials

under the specified condition. The

Committee on Floor Procedures may

also determine that the primary market

is charging a differential in a particular

security and allow the CHX specialist in

the security also to charge a differential.

The Commission finds that the

proposed rule change is consistent with

the requirements of the Act and the

rules and regulations thereunder

applicable to a national securities

exchange, and, in particular, with the

requirements of Section 6(b).4 In

particular, the Commission believes the

proposal is consistent with the Section

6(b)(5) requirements that the rules of an

exchange be designed to promote just

and equitable principles of trade, to

remove impediments and to perfect the

mechanism of a free and open market

and a national market system, and in

general, to protect investors and the

public interest.

The Commission believes that the

proposed rule change to allow

differentials to be charged on specified

odd-lot securities will make the rules of

the Exchange consistent with those of

the other securities exchanges.5 In

addition, the rule change will allow the

CHX to authorize the charging of a

differential in a security when the

primary market is charging a differential

in that security. This provision will

ensure that the CHX market makers will

be allowed to effect executions at

competitive prices, which will

contribute to the maintenance of a fair

and orderly market in those securities

trading on the primary market with a

differential.

It is therefore ordered, pursuant to

Section 19(b)(2) of the Act,6 that the

proposed rule change (SR–CHX–94–23)

is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.7

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 95–3370 Filed 2–9–95; 8:45 am]

BILLING CODE 8010–01–M

[Release No. 34–35332; File No. SR–DTC–

95–04]

Self-Regulatory Organizations; The

Depository Trust Company; Notice of

Filing of Proposed Rule Change

Establishing a Link Between the

Institutional Delivery System and Other

Compatible Electronic Trade

Confirmation Systems

February 3, 1995.

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

Securities Exchange Act of 1934

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

January 26, 1995, 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 by DTC. The Commission is

publishing this notice to solicit