66956 Federal Register / Vol. 66, No. 248 / Thursday, December 27, 2001 / Notices

1 15 U.S.C. 78k–1.

2 17 CFR 240.11Aa3–2.

3See Securities and Exchange Act Release No.

44177 (April 12, 2001), 66 FR 19814.

4See Securities and Exchange Act Release No.

44703 (August 15, 2001), 66 FR 43924.

5 15 U.S.C. 78k–1.

6 17 CFR 240.11Aa3–2.

7 15 U.S.C. 78k–1.

8 17 CFR 200.301⁄3(a)(16).

9 17 CFR 240.11Aa3–2.

(‘‘VitalStream’’), a California-based

digital broadcasting company, pursuant

to which VitalStream would merge with

and into a wholly-owned subsidiary of

Applicant. Applicant states that it

expects the proposed merger to close in

the first or second quarter of 2002.

Applicant further states that, in addition

to seeking to merge with or acquire an

operating business, it has attempted to

sell the Private Company securities by

convincing Private Company to

repurchase the securities, discussing a

sale with existing shareholders of

Private Company, and contacting other

persons who have shown an interest in

Private Company. Applicant states that

it is continuing to attempt to find a

purchaser for its block of Private

Company securities. In addition,

Applicant states that since determining

to pursue operating company status at

the end of the first quarter of 2001, it

has declined to make additional

investments in Private Company and

has not acquired any other investment

securities. Applicant also states that it

will hold its cash assets in federally

insured money market or demand

accounts. Finally, Applicant notes that

on November 7, 2001, the Board

formalized the decision to pursue

operating company status by adopting a

resolution that directs Applicant to

abandon its efforts to become a BDC and

take whatever steps are necessary to

become an operating company.

6. Applicant contends that

registration under the Act would

involve an unnecessary burden and

expense for Applicant and its

shareholders and would serve no

regulatory purpose. For the reasons

discussed above, Applicant asserts that

the requested relief is consistent with

the protection of investors and the

purposes fairly intended by the policy

and provisions of the Act.

Applicant’s Conditions

1. Applicant will not acquire

additional investment securities, as

defined in section 3(a)(2) of the Act, or

engage in the trading of securities for

short-term speculative purposes.

2. Applicant will not hold itself out as

being engaged in the business of

investing, reinvesting, owning, holding

or trading in securities.

For the Commission, by the Division

of Investment Management, under

delegated authority.

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–31740 Filed 12–26–01; 8:45 am]

BILLING CODE 8010–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–45166, File No. 4–208]

Joint Industry Plan; Order Approving

Amendments To Add Chicago Board

Options Exchange, Inc. as Participant

to Joint-SRO Plan Under Rule 11Ac1–

5

December 18, 2001.

I. Introduction

On July 11, 2001, the Chicago Board

Options Exchange, Inc. (‘‘CBOE’’ or

‘‘Exchange’’) submitted to the Securities

and Exchange Commission (‘‘SEC’’ or

‘‘Commission’’) in accordance with

section 11A of the Securities Exchange

Act of 1934 (‘‘Act’’) 1 and rule 11Aa3–

2 thereunder,2 a proposed amendment

to the national market system plan

establishing procedures under rule

11Ac1–5 (‘‘Joint-SRO Plan’’ or ‘‘Plan’’).3

Under the proposed amendment, the

CBOE would be added as a participant

to the Joint-SRO Plan. Notice of filing

and an order granting temporary

effectiveness of the proposal through

December 19, 2001 was published in the

Federal Register on August 21, 2001.4

The Commission did not receive any

comments on the proposed amendment.

This order approves the amendment on

a permanent basis.

II. Discussion

The Joint-SRO Plan establishes

procedures for market centers to follow

in making their monthly reports

required pursuant to rule 11Ac1–5,

available to the public in a uniform,

readily accessible, and usable electronic

format. The current participants to the

Plan are the American Stock Exchange

LLC, Boston Stock Exchange, Inc.,

Chicago Stock Exchange, Inc.,

Cincinnati Stock Exchange, Inc.,

National Association of Securities

Dealers, Inc., New York Stock Exchange,

Inc., Pacific Exchange, Inc., and

Philadelphia Stock Exchange, Inc.

The amendment adds the CBOE as a

participant to the Joint-SRO Plan.

Section III(b) of the Joint-SRO Plan

provides that a national securities

exchange or national securities

association may become a party to the

Plan by: (1) Executing a copy of the

Plan, as then in effect (with the only

changes being the addition of the new

participant’s name in section II(a) of the

Plan and the new participant’s singledigit code in section VI(a)(1) of the Plan)

and (ii) submitting such executed plan

to the Commission for approval. The

CBOE submitted a signed copy of the

Joint-SRO Plan to the Commission in

accordance with the procedures set

forth in the Plan regarding new

participants.

After careful review, the Commission

finds that the amendment to the JointSRO Plan is consistent with the

requirements of the Act and the rules

and regulations thereunder.

Specifically, the Commission finds that

the proposed amendment is consistent

with the requirements of section 11A of

the Act,5 and rule 11Aa3–2 6 thereunder.

The Plan established appropriate

procedures for market centers to follow

in making their monthly reports

required pursuant to rule 11Ac1–5

available to the public in a uniform,

readily accessible, and usable electronic

format. The amendment to include the

CBOE as a participant in the Joint-SRO

Plan should contribute to the

maintenance of fair and orderly markets

and remove impediments to and perfect

the mechanisms of a national market

system by facilitating the uniform

public disclosure of order execution

information by all market centers. The

Commission believes that it is necessary

and appropriate in the public interest,

for the maintenance of fair and orderly

markets, to remove impediments to, and

perfect mechanisms of, a national

market system to allow the CBOE to

become a participant in the Joint-SRO

Plan. The Commission finds, therefore,

that approving the amendment to the

Joint-SRO Plan is appropriate and

consistent with section 11A of the Act.7

III. Conclusion

It is therefore ordered, pursuant to

section 11A(a)(3)(B) of the Act 8 and rule

11Aa3–2 thereunder,9 that the

amendment to the Joint-SRO Plan to add

the CBOE as a participant is approved

and the CBOE is authorized to act

jointly with the other participants to the

Joint-SRO Plan in planning, developing,

operating, or regulating the Plan as a

means of facilitating a national market

system.

Federal Register / Vol. 66, No. 248 / Thursday, December 27, 2001 / Notices 66957

10 17 CFR 200.30–3(a)(29).

1 15 U.S.C. 78q–1(b) and 78s(a).

2 17 CFR 240.17Ab2–1.

3Securities Exchange Act Release No. 25740 (May

24, 1988), 53 FR 19639.

4Securities Exchange Act Release Nos. 25740

(May 24, 1988), 53 FR 19639; 29236 (May 24, 1991),

56 FR 24852; 32385 (June 3, 1993), 58 FR 32405;

35787 (May 31, 1995), 60 FR 30324; 36508

(November 27, 1995), 60 FR 61719; 37983

(November 25, 1996), 61 FR 64183; 38698 (May 30,

1997), 62 FR 30911; 39696 (February 24, 1998), 63

FR 10253; 41104 (February 24, 1999), 64 FR 10510;

41805 (August 27, 1999), 64 FR 48682; 42335

(January 12, 2000), 65 FR 3509; 43089 (July 28,

2000), 65 FR 48032; 43900 (January 29, 2001), 66

FR 8988; and 44553 (July 13, 2001), 66 FR 37714.

5Letter from Jeffrey Ingber, Managing Director,

General Counsel, and Secretary, GSCC (December

11, 2001).

6The Commission continues to consider two

issues related to GSCC’s permanent registration

status: (1) GSCC’s organizational structure after its

integration with The Depository Trust & Clearing

Corporation and (2) the appropriate standard of care

for GSCC.

7 15 U.S.C. 78s(a)(1).

8 17 CFR 200.30–3(a)(16).

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

2 17 CFR 240.19b–4.

3See letter from Claire P. McGrath, Vice President

and Deputy General Counsel, Amex, to Nancy

Sanow, Assistant Director, Division of Market

Regulation (‘‘Division’’), Commission, dated

December 14, 2001 (‘‘Amendment No. 1’’), In

Amendment No. 1, the Amex provided greater

detail as to the basis for the proposed rule change.

4See Securities Exchange Act Release No. 45163

(December 18, 2001) for a description of these

increased fees.

5 15 U.S.C. 78s(b)(3)(a)(ii).

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.10

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–31697 Filed 12–26–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release 34–45164; File No. 600–23]

Self-Regulatory Organizations;

Government Securities Clearing

Corporation; Notice of Filing and Order

Approving an Extension of Temporary

Registration as a Clearing Agency

December 18, 2001.

The Securities and Exchange

Commission (‘‘Commission’’) is

publishing this notice and order to

solicit comments from interested

persons and to extend the Government

Securities Clearing Corporation’s

(‘‘GSCC’’) temporary registration as a

clearing agency through June 30, 2002.

On May 24, 1988, pursuant to sections

17A(b) and 19(a) of the Act 1 and rule

17Ab2–1 promulgated thereunder,2 the

Commission granted GSCC registration

as a clearing agency on a temporary

basis for a period of three years.3 The

Commission subsequently has extended

GSCC’s registration through December

31, 2001.4 On December 13, 2001, GSCC

requested that the Commission extend

GSCC’s temporary registration until

such time as the Commission is

prepared to grant GSCC permanent

registration.5

The Commission today is extending

GSCC’s temporary registration as a

clearing agency in order that GSCC may

continue to act as a clearing agency

while the Commission seeks comment

on granting GSCC permanent

registration as a clearing agency. The

Commission expects to publish notice

requesting comments on permanent

registration as a clearing agency during

the first quarter of next year.6

Interested persons are invited to

submit written data, views, and

arguments concerning the foregoing

application. Such written data, views,

and arguments will be considered by the

Commission in granting registration or

instituting proceedings to determine

whether registration should be denied

in accordance with section 19(a)(1) of

the Act.7 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 application for

registration and all written comments

will be available for inspection at the

Commission’s Public Reference Room,

450 Fifth Street, NW, Washington, DC

20549–0102. All submissions should

refer to File No. 600–23 and should be

submitted by January 17, 2002.

It is therefore ordered that GSCC’s

temporary registration as a clearing

agency (File No. 600–23) be and hereby

is extended through June 30, 2002.

For the Commission by the Division of

Market Regulation, pursuant to delegated

authority.8

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 01–31696 Filed 12–26–01; 8:45 am]

BILLING CODE 8010–01–M

SECURITIES AND EXCHANGE

COMMISSION

[Release No. 34–45165; File No. SR–Amex–

2001–102]

Self-Regulatory Organizations; Notice

of Filing of Proposed Rule Change by

the American Stock Exchange LLC

Relating to an Increase in Floor,

Membership and Options Trading Fees

December 18, 2001.

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

Securities Exchange Act of 1934

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

notice is hereby given that on December

6, 2001, the American Stock Exchange

LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with

the Securities and Exchange

Commission (the ‘‘Commission’’) the

proposed rule change as described in

Items I, II, and III below, which Items

have been prepared by the Exchange.

Amendment No. 1 was filed on

December 17, 2001.3 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 Exchange has proposed to

increase floor, membership and option

trading fees under SR–Amex–2001–

101,4 which was filed for immediate

effectiveness pursuant to section

19(b)(3)(A)(ii) of the act.5 The Exchange

now seeks to impose these increased

floor, membership, options trading, and

comparison and floor brokerage fees, as

set forth in Amex–2001–101 and

described below, as of August 1, 2001.

In addition, the Exchange proposes to

impose the increased license fees and

the elimination of the fee cap for

options as October 1, 2001.

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 section 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 Exchange proposes to impose

floor fees, member fees and options

transactions, comparison and Floor

brokerage fees as of August 1, 2001, and

certain license fees and elimination of

the options fee cap as of October 1,

2001. The Exchange filed these fee

changes under SR–Amex–2001–101 and

requested that they become immediately