Federal Register / Vol. 61, No. 124 / Wednesday, June 26, 1996 / Notices 33163

12The two new stocks proposed to be added

herein both currently have overlying options being

traded.

13 15 U.S.C. 78f(b)(5).

14See note 8 supra.

15The XAU contract, however, will not meet the

requirement that the Index be A.M.-settled. See

Amendment No. 1, supra note 3. The Commission

continues to believe that basing the settlement of

index products on opening, as opposed to closing,

prices helps to alleviate stock market volatility on

Expiration Fridays and the Commission encourages

the Phlx to consider changing the XAU to an A.M.-

settled index. Nevertheless, because options on the

Index have been trading as P.M.-settled since

inception of the Index, and because the Index is

comprised of a small number of securities, the

Commission is not at this time requiring the Phlx

to make such a change. 16See supra note 6.

17 15 U.S.C. 78s(b)(2).

18 17 CFR 200.30–3(a)(12).

qualify as eligible for equity options

trading under Phlx Rule 1009.12 Absent

Commission approval, the Exchange

will not increase to more than 15, nor

decrease to fewer than 9, the number of

stocks in the Index.

II. Discussion

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, the

requirements of Section 6(b)(5) 13 in that

it is designed to prevent fraudulent and

manipulative acts and practices, to help

remove impediments to a free and open

securities market and facilitate

transactions in securities, while

protecting investors and the public

interest. Specifically, the Commission

believes that adding to the XAU two

relatively highly capitalized and

actively traded precious metal mining

stocks should result in the Index being

more representative of the gold and

silver mining industries.14 Moreover,

the greater number of securities in the

Index should reduce the potential for

manipulation to the Index, which will

serve to protect investors and the public

interest.

With regard to the Exchange’s

proposed procedure for governing future

replacements, additions or deletions of

underlying stocks from the Index, the

Commission finds that the procedure is

appropriate and consistent with the Act.

More specifically, the Phlx has

undertaken to ensure that the XAU will

satisfy the maintenance criteria set forth

in Exchange Rule 1009A(c),15 governing

certain narrow-based index options. As

noted above, these criteria contain

minimum numerical requirements for,

among other things, trading volume and

capitalization which will help to ensure

that the components of the Index have

sufficient depth and liquidity to

accommodate options trading. Given

that the Index is an industry index with

relatively few components, the

Commission believes that applying

these maintenance criteria is an

appropriate means of ensuring that the

Index continues to reflect a bona fide

narrow-based index. Additionally, the

Commission concludes that the Phlx’s

proposal as a whole satisfies the

Commission’s request in the original

Index Approval Order 16 that the

Exchange formulate a rule to govern

replacements of stocks in the Index.

Based on the above, the Commission

believes this portion of the proposal will

help to facilitate transactions in

securities while protecting investors and

the public interest.

The Commission finds good cause for

approving Amendment No. 2 to the

proposal prior to the thirtieth day after

the date of publication of the notice of

filing thereof in the Federal Register.

Specifically, Amendment No. 2 merely

removes one of the proposed Index

stocks which, according to the

Exchange, was not an accurate

representative of the gold/silver mining

industry. The amendment does not raise

significant issues or otherwise

materially impact the proposal. Indeed,

the overall initial effect of the proposal

is to increase the number of component

stocks in the Index from 9 to 11, which,

given the capitalization and trading

history of the two additional

components, strengthens the Index.

Based on the above, the Commission

finds good cause for approving

Amendment No. 2 to the proposed rule

change on an accelerated basis and

believes that the proposal, as amended,

is consistent with Sections 6(b)(5) and

19(b)(2) of the Act.

III. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments concerning Amendment No.

2. 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 the principal

office of the Phlx. All submissions

should refer to the File No. SR–Phlx–

96–03 and should be submitted by July

17, 1996.

It is therefore ordered, pursuant to

section 19(b)(2) of the Act,17 that the

proposed rule change (SR–Phlx–96–03),

as amended, is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.18

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 96–16229 Filed 6–25–96; 8:45 am]

BILLING CODE 8010–01–M

DEPARTMENT OF TRANSPORTATION

[Docket 37554]

Notice of Order Adjusting the Standard

Foreign Fare Level Index

Section 41509(e) of Title 49 of the

United States Code requires that the

Department, as successor to the Civil

Aeronautics Board, establish a Standard

Foreign Fare Level (SFFL) by adjusting

the SFFL base periodically by

percentage changes in actual operating

costs per available seat-mile (ASM).

Order 80–2–69 established the first

interim SFFL, and Order 96–3–61

established the currently effective twomonth SFFL applicable through May 31,

1996.

In establishing the SFFL for the twomonth period beginning June 1, 1996,

we have projected non-fuel costs based

on the year ended December 31, 1995

data, and have determined fuel prices

on the basis of the latest available

experienced monthly fuel cost levels as

reported to the Department.

By Order 96–6–41 fares may be

increased by the following adjustment

factors over the October 1979 level:

Atlantic ............................................. 1.4474

Latin America .................................. 1.5312

Pacific ............................................... 1.5214

For Further Information Contact:

Keith A. Shangraw (202) 366–2439.

By the Department of Transportation.

Dated: June 20, 1996.

Patrick V. Murphy,

Deputy Assistant Secretary for Aviation and

International Affairs.

[FR Doc. 96–16328 Filed 6–25–96; 8:45 am]

BILLING CODE 4910–62–P
33164 Federal Register / Vol. 61, No. 124 / Wednesday, June 26, 1996 / Notices

Office of the Secretary

Privacy Act of 1974: Systems of

Records

AGENCY: Office of the Secretary, DOT.

ACTION: Notice.

SUMMARY: Minor changes to Privacy Act

System of Records.

EFFECTIVE DATE: June 26, 1996.

ADDRESSES: Send Comments to the

Privacy Act Officer, U.S. Department of

Transportation, 400 7th St., SW.,

Washington, DC 20590.

FOR FURTHER INFORMATION CONTACT:

Crystal Bush at (202) 366–9713.

SUPPLEMENTARY INFORMATION: The

Privacy Act of 1974 (5 U.S.C. 552a)

requires each agency to publish its

systems of records in the Federal

Register. Information for the

Department of Transportation is

available from the above address.

DOT/OST 043

SYSTEM NAME:

Telephone Directory and Locator

System.

SECURITY CLASSIFICATION:

None.

SYSTEM LOCATION:

Department of Transportation, ATTN:

SVC–171, Telecommunications

Operations Division, 400 7th Street SW.,

Washington, DC 20590.

CATEGORIES OF INDIVIDUALS COVERED BY THE

SYSTEM:

Department of Transportation (DOT)

headquarters employees.

CATEGORIES OF RECORDS IN THE SYSTEM:

Alphabetic Employee Master Records.

AUTHORITY FOR MAINTENANCE OF THE SYSTEM:

None.

PURPOSE(S):

To provide the names, telephone

numbers, and office locations of DOT

employees and organizations.

ROUTINE USES OF RECORDS MAINTAINED IN THE

SYSTEM, INCLUDING CATEGORIES OF USERS AND

THE PURPOSES OF SUCH USES:

Departmental Alphabetic Directory

production.

DOT Mail Room.

DOT Locator Service.

Used by DOT Telephone Directory

Representatives, DOT Mail room.

See Prefatory Statement of General

Routine Uses.

DISCLOSURE TO CONSUMER REPORTING

AGENCIES:

Public document that can be received

from the Government Printing Office.

POLICIES AND PRACTICES FOR STORING,

RETRIEVING, ACCESSING, RETAINING, AND

DISPOSING OF RECORDS IN THE SYSTEM:

STORAGE:

Magnetic tape storage via batch

processing. Source data returned to

DOT.

RETRIEVABILITY:

Can retrieve on telephone number or

on name.

SAFEGUARDS:

Only DOT and its support contractor

personnel have access to tapes.

RETENTION AND DISPOSAL:

Tapes are retained through three (3)

cycles, grandfather, father, son, and then

scratched. Source materials are retained

until the next update is completed.

SYSTEM MANAGER(S) AND ADDRESS:

Chief, Telecommunications

Operations Division, ATTN: SVC–171,

Department of Transportation, Office of

the Secretary, Office of Administrative

Services, 400 7th Street, SW., Room PL–

300, Washington, DC 20590.

NOTIFICATION PROCEDURE:

Contact the Telecommunications

Operations Division at the address

above.

RECORD ACCESS PROCEDURES:

Contact the Telecommunications

Operations Division at the address

above.

Individual may review own data upon

presentation of valid DOT ID card.

CONTESTING RECORD PROCEDURES:

Individual may change own data at

any time.

RECORD SOURCE CATEGORIES:

DOT F 1700.1—DOT Form prepared

for each employee.

EXEMPTIONS CLAIMED FOR THE SYSTEM:

None.

Dated: June 17, 1996.

Crystal M. Bush,

Privacy Coordinator, U.S. Department of

Transportation.

[FR Doc. 96–16249 Filed 6–25–96; 8:45 am]

BILLING CODE 4910–62–P

Coast Guard

[CGD 96–029]

Notice of Public Docket Procedures

AGENCY: Coast Guard, DOT.

ACTION: Notice.

SUMMARY: In keeping with the National

Performance Review’s objective of

increased government dissemination of

information, this notice publicizes the

current opening hours for the Coast

Guard’s headquarters Docket facility

and fee schedule for copying of public

docket materials. These fees, assessed

by the Coast Guard, are turned over to

the U.S. Treasury General Fund.

FOR FURTHER INFORMATION CONTACT: PO

Glen Button, Office of Regulations and

Administrative Law (G–LRA), (202)

267–1534.

SUPPLEMENTARY INFORMATION: The Coast

Guard considers public participation

essential to effective rulemaking, and

encourages the public to participate in

its rulemaking process. Coast Guard

policy is to provide opportunities for

public participation early in potential

rulemaking projects. The Executive

Secretary of the Coast Guard’s Marine

Safety Council maintains the public

docket for all Coast Guard rulemakings

issued by Coast Guard Headquarters.

Comments submitted in response to any

rulemaking as well as selected other

material become part of a public docket

and are available for inspection or

copying at room 3406, U.S. Coast Guard

Headquarters, between 9:30 a.m. and 2

p.m., Monday through Friday, except

Federal holidays. Comments may be

submitted in person daily.

The Coast Guard assesses charges for

duplication costs in the same manner as

outlined in the Department of

Transportation’s general guidance

applying the Freedom of Information

Act in 49 CFR 7.95. All fees collected

are turned over to the U.S. Treasury

General Fund. Documents may be

furnished at a reduced cost or without

charge for the media, scientific or

educational institutes, or other under

the circumstances outlined in 49 CFR

7.97.

In any instance where the Coast

Guard reasonably believes that the

requestor is attempting to break a single

request into several requests to evade

the payment of otherwise applicable

fees, the Coast Guard will aggregate the

requests and impose a fee based on the

aggregation. As outlined in 49 CFR

7.93(h), if payment of fees charged is not

received within 30 calendar days after

the date the initial notice of the amount

due is first mailed or tendered to the

requester, an administrative charge may

be assessed by the Coast Guard to cover

the cost of processing and handling the

claim. In addition, a penalty charge will

be applied to any principal amount of

a debt that is more than 90 days past

due. Where appropriate, other steps

permitted by federal debt collection

statutes, including disclosure to

consumer debt agencies and use of