Document ID: SEC-2005-0149-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: Chicago Stock Exchange, Inc.
Posted Date: 2005-10-25T04:00Z

[Federal Register: October 25, 2005 (Volume 70, Number 205)]
[Notices]               
[Page 61671]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25oc05-95]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52632; File No. SR-CHX-2005-21]

 
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Order Approving Proposed Rule Change and Amendments Nos. 1 and 2 
Thereto Requiring the Chicago Stock Exchange's Participants To Provide 
Electronic Mail Addresses to the Exchange

October 19, 2005.

Introduction

    On July 18, 2005, the Chicago Stock Exchange, Inc. (``CHX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``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 require participants and participant firms to 
provide electronic mail addresses to the Exchange for use in 
transmitting notices and other communications. On August 30, 2005, the 
Exchange filed Amendment No. 1 to the proposed rule change.\3\ On 
September 1, 2005, the Exchange filed Amendment No. 2 to the proposed 
rule change.\4\ The proposed rule change, as amended, was published in 
the Federal Register on September 14, 2005.\5\ No comments were 
received on the proposed rule change. This order approves the proposed 
rule change, as amended.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Amendment No. 1. In Amendment No. 1, the Exchange made 
several modifications to the proposed rule change, including changes 
to the proposed rule text to require members to promptly update 
electronic mail addresses they provide to the Exchange, to clarify 
that the proposal will not supersede or modify any other provisions 
of Exchange rules that set out a specific method for the receipt of 
information from the Exchange, and to modify the notice to more 
closely conform it to the text of the proposed rule change.
    \4\ See Amendment No. 2. In Amendment No. 2, the Exchange 
changed the text of the proposed rule so that it uses the term 
``electronic mail'' instead of the term ``e-mail.''
    \5\ See Securities Exchange Act Release No. 52375 (September 1, 
2005), 70 FR 54424.
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    New Rule 17 of Article III shall provide that every Exchange 
participant and Exchange participant firm shall designate one or more 
electronic mail addresses for the purpose of receiving Exchange notices 
and communications and shall promptly update those electronic mail 
addresses when those addresses change or are no longer valid. New Rule 
17 also provides that an authorized representative of the Exchange may 
elect to transmit notices or other communications to participants 
electronically, but that nothing in Rule 17 will supersede or modify 
either the method for service of process or other materials in any 
disciplinary proceeding or any other provisions of the Exchange rules 
setting out a specific method for the receipt of information from the 
Exchange.
    The Commission finds that the proposed rule change, as amended, is 
consistent with the Act and the rules and regulations thereunder 
applicable to a national securities exchange.\6\ The Commission 
believes that the proposed rule change is consistent with Section 6(b) 
of the Act,\7\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\8\ in particular, in that it promotes just and 
equitable principles of trade, removes impediments to, and perfects the 
mechanism of, a free and open market and a national market system, and, 
in general, protects investors and the public interest, by allowing the 
Exchange to take advantage of technology to communicate with 
participants in a more efficient and cost-effective manner.
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    \6\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact of efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \7\ 15 U.S.C. 78(f)(b).
    \8\ 5 U.S.C. 78(f)(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\9\ that the proposed rule change (SR-CHX-2005-21), as amended, is 
approved.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
Jonathan G. Katz,
Secretary.
 [FR Doc. E5-5880 Filed 10-24-05; 8:45 am]

BILLING CODE 8010-01-P