Federal Register / Vol. 66, No. 4 / Friday, January 5, 2001 / Notices 1163

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

2 17 CFR 240.19b–4.

3See December 18, 2000 letter from Ellen J.

Neely, Vice President and General Counsel, CHX,

to Nancy J. Sanow, Assistant Director, Division of

Market Regulation, SEC (‘‘Amendment No. 1’’). In

Amendment No. 1, the CHX provided a revised

Exhibit A to the proposed rule change. The CHX

inadvertently omitted the text relating to the

extension of the E-Session credit program in the

original version of Exhibit A. For purposes of

calculating the 60-day abrogation period, the

Commission considers the period to begin as of the

date the CHX filed Amendment No. 1 (December

19, 2000).

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

of The Royce Fund, based on net asset

value. Expenses of $29,109 were

incurred in connection with the

reorganization, of which Royce &

Associates, Inc., investment adviser to

the acquiring fund, paid $25,000,

Ebright Investments, Inc., applicant’s

investment adviser, paid $1,244, and

applicant paid the remainder.

Filing Dates: The application was

filed on November 9, 2000, and

amended on December 15, 2000.

Applicant’s Address: 511 Congress

Street, Portland, Maine 04101.

Advisers Managers Trust [File No. 811–

8578]

Summary: Applicant, a master fund in

a master/feeder structure, seeks an order

declaring that it has ceased to be an

investment company. On May 1, 2000,

applicant made a liquidating

distribution to its shareholders based on

net asset value. Expenses of $58,000

incurred in connection with the

liquidation were paid by applicant.

Filing Dates: The application was

filed on November 16, 2000, and

amended on December 19, 2000.

Applicant’s Address: 605 Third

Avenue, 2nd Floor, New York, New

York 10158–0180.

ESC Strategic Funds, Inc. [File No. 811–

8166]

Summary: Applicant seeks an order

declaring that it has ceased to be an

investment company. On March 24 and

March 27, 2000, applicant transferred its

assets to STI Classic Funds based on net

asset value. Expenses of $71,807

incurred in connection with the

reorganization were paid by each series

of applicant on a pro rata basis.

Filing Dates: The application was

filed on July 31, 2000, and amended on

October 20, 2000.

Applicant’s Address: 3435 Steltzer

Road, Columbus, Ohio 43219.

Jardine Fleming Asia Infrastructure

Fund, Inc. [File No. 811–8458]

Summary: Applicant seeks an order

declaring that it has ceased to be an

investment company. Applicant has

never made a public offering of its

securities and does not propose to make

any public offering or engage in

business of any kind.

Filing Dates: The application was

filed on October 25, 2000, and amended

on December 11, 2000.

Applicant’s Address: 1345 Avenue of

the Americas, New York, New York

10105.

Van Kampen Convertible Securities

Fund [File No. 811–2282]

Summary: Applicant seeks an order

declaring that it has ceased to be an

investment company. On August 9,

2000, applicant transferred its assets to

Van Kampen Harbor Fund based on net

asset value. Expenses of $175,100

incurred in connection with the

reorganization were paid by applicant.

Filing Dates: The application was

filed on October 25, 2000, and amended

on December 4, 2000.

Applicant’s Address: 1 Parkview

Plaza, PO Box 5555, Oakbrook Terrace,

Illinois 60181–5555a.

Worldwide Developing Resources

Portfolio [File No. 811–8151]

Summary: Applicant, the master fund

in a master/feeder structure, seeks an

order declaring that it has ceased to be

an investment company. On December

18, 1999, applicant made a final

liquidating distribution to its

shareholders based on net asset value.

Expenses of $25,297 incurred in

connection with the liquidation were

paid by Eaton Vance Worldwide

Developing Resources Fund, a feeder

fund that invested all of its assets in

applicant.

Filing Dates: The application was

filed on November 1, 2000, and

amended on November 29, 2000.

Applicant’s Address: The Eaton

Vance Building, 255 State Street,

Boston, Massachusetts 02109.

Great Plains Fund [File No. 811–8281]

Summary: Applicant seeks an order

declaring that it has ceased to be an

investment company. On September 8,

2000, applicant transferred its assets to

Wells Fargo Funds Trust based on net

asset value. Applicant bore no expenses

in connection with the reorganization.

Filing Dates: The application was

filed on November 14, 2000, and

amended on December 22, 2000.

Applicant’s Address: 5800 Corporate

Drive, Pittsburgh, Pennsylvania 15237–

7010.

Michigan Daily Municipal Income

Fund, Inc. [File No. 811–5015]

Summary: Applicant seeks an order

declaring that it has ceased to be an

investment company. On October 23,

2000, applicant made a final liquidating

distribution to its sole shareholder

based on net asset value. Expenses of

$3,000 incurred in connection with the

liquidation were paid by Reich & Tang

Asset Management L.P., applicant’s

investment adviser.

Filing Dates: The application was

filed on December 6, 2000, and

amended on December 22, 2000.

Applicant’s Address: 600 Fifth

Avenue, New York, New York 10020.

For the Commission, by the Division of

Investment Management, pursuant to

delegated authority.

Jonathan G. Katz,

Secretary.

[FR Doc. 01–293 Filed 1–4–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43777; File No. SR–CHX–

00–39]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change and

Amendment No. 1 by the Chicago

Stock Exchange, Incorporated Relating

to Membership Dues and Fees During

the E-Session

December 28, 2000.

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

Securities Exchange Act of 1934

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on December

18, 2000, the Chicago Stock Exchange,

Incorporated (‘‘CHX’’ or ‘‘Exchange’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’ or ‘‘SEC’’)

the proposed rule change as described

in Items I, II, and III below, which Items

have been prepared by the Exchange.

On December 19, 2000, the CHX

amended the proposal.3 The Exchange

has designated this proposal as one

establishing or changing a due, fee, or

other charge imposed by the CHX under

Section 19(b)(3)(A)(ii) of the Act,4

which renders the proposal effective

upon filing with the Commission. The

Commission is publishing this notice to

solicit comments on the proposed rule

change, as amended, from interested

persons.

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to amend its

membership dues and fees schedule (the

‘‘Schedule’’) to continue, through June

30, 2001, (i) the credit program that

provides Exchange specialists and floor

1164 Federal Register / Vol. 66, No. 4 / Friday, January 5, 2001 / Notices

5On October 13, 1999, the Commission approved,

on a pilot basis, the CHX’s proposed rule change

that allowed the CHX to implement an extended

hours trading session. See Securities Exchange Act

Release No. 42004 (October 13, 1999), 64 FR 56548

(October 20, 1999) (SR–CHX–99–16). The

Commission recently approved the CHX’s proposal

to make the E-Session a permanent part of the

CHX’s operations. See Securities Exchange Act

Release No. 43304 (September 19, 2000), 65 FR

57850 (SR–CHX–00–26). The E-Session takes place

from 3:30 p.m. to 5:30 p.m., Central Time, Monday

through Friday.

6E-Session fees have been waived since the

beginning of the E-Session. See Securities Exchange

Act Release Nos. 42089 (November 2, 1999), 64 FR

60864 (November 8, 1999) (SR–CHX–99–23)

(waiving fees from October 13, 1999 through

December 31, 1999); 42329 (January 11, 2000), 65

FR 3000 (January 19, 2000) (SR–CHX–99–29)

(waiving fees from January 1, 2000 through March

1, 2000); 42486 (March 2, 2000), 65 FR 12601

(March 9, 2000) (SR–CHX–005) (waiving fees from

March 2, 2000 through June 30, 2000); and 42929

(June 13, 2000), 65 FR 38620 (June 21, 2000) (SR–

CHX–00–18) (waiving fees from July 1, 2000

through October 1, 2000); and 43403 (October 2,

2000), 65 FR 60234 (October 10, 2000) (SR–CHX–

00–30) (waiving transaction, order processing and

floor broker fees through December 31, 2000). This

proposal extends the waiver of the same fees

through June 30, 2001.

7See Securities Exchange Act Release No. 42784

(May 15, 2000), 65 FR 33383 (May 23, 2000) (SR–

CHX–00–12).

8See Securities Exchange Act Release No. 43402

(October 2, 2000), 65 FR 25867 (October 6, 2000)

(SR–CHX–00–29).

9 15 U.S.C. 78f(b)(4).

10 15 U.S.C. 78s(b)(3)(A)(ii).

11 17 CFR 240.19b–4(f)(2).

12The Commission considers the proposal to

have been filed as of December 19, 2000. See

footnote 3, supra.

13 17 CFR 200.30–3(a)(12).

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

2 17 CFR 240.19b–4.

brokers with a credit of $.25 per trade

executed during the Exchange’s ESession extended hours trading session;

and (ii) the waiver of all transaction,

order processing and floor broker fees

for transactions that occur during the ESession. The text of the proposed rule

change is available upon request from

the CHX and 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

Exchange 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

Exchange 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

1. Purpose

The CHX proposes to amend the

Schedule to eliminate, through June 30,

2001, order processing, transaction and

floor broker fees for transactions that

occur during the E-Session.5 This

proposal is designed to allow CHX

members to continue to participate in

the E-Session without incurring the fees

normally associated with their CHX

transactions.6 According to the

Exchange, the vast majority of the

securities that trade during the ESession are already subject to order

processing and transaction fee waivers

under the current fee schedule because

they are either Nasdaq/NMS issues or

issues within the S&P 500. Waiving fees

on the few remaining securities and on

floor broker transactions in all securities

simplifies the Exchanges’ fee-related

communication with its members.

Additionally, this proposal would

extend the current E-Session credit

program through June 30, 2001.

Exchange management developed this

program to encourage members to seek

additional order flow during the ESession. Under the program, Exchange

specialists and floor brokers receive a

credit of $.25 per trade executed during

the E-Session. This credit program was

approved in May 2000,7 and has been

extended through December 31, 2000.8

2. Statutory Basis

The Exchange believes the proposed

rule change is consistent with Section

6(b)(4) of the Act 9 in that it provides for

the equitable allocation of reasonable

dues, fees and other charges among its

members.

B. Self-Regulatory Organization’s

Statement on Burden on Competition

The Exchange does not believe that

the proposed rule change will impose

any inappropriate 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 were solicited

or received.

III. Date of Effectiveness of the

Proposed Rule Change and Timing for

Commission Act

The proposed rule change has become

effective pursuant to Section

19(b)(3)(A)(ii) of the Act 10 and

subparagraph (f) of Rule 19b–4

thereunder,11 because it involves a due,

fee, or other charge. At any time with 60

days of the filing of the proposed rule

change,12 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,

including whether the proposal is

consistent with the Act. Persons making

written submissions should file six

copies thereof with the Secretary,

Securities and Exchange Commission,

450 Fifth Street, NW., Washington, DC

20549–0609. 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 coping in

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 number

SR–CHX–00–39, and should be

submitted by January 25, 2001.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.13

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–316 Filed 1–4–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–43778; File No. SR–CHX–

00–38]

Self-Regulatory Organizations; Notice

of Filing and Immediate Effectiveness

of Proposed Rule Change by the

Chicago Stock Exchange, Incorporated

Relating to Membership Dues and Fees

December 28, 2000.

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

Securities Exchange Act of 1934

(‘‘Act’’) 1 and Rule 19b–42 thereunder,

notice hereby is given that on December

18, 2000, the Chicago Stock Exchange,

Incorporated (‘‘CHX’’ or ‘‘Exchange’’)

filed with the Securities and Exchange

Commission (‘‘Commission’’) the

proposed rule change as described in