66 FR 162 pg. 43939 - Self Regulatory Organizations; The Chicago Stock Exchange, Inc.; Order Granting Approval to Proposed Rule Change to Eliminate the “E-Session” After-Hours Trading Session
Type: NOTICEVolume: 66Number: 162Page: 43939
Docket number: [Release No. 34-44705; File No. SR-CHX-2001-14]
FR document: [FR Doc. 01-21017 Filed 8-20-01; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-44705; File No. SR-CHX-2001-14]
Self Regulatory Organizations; The Chicago Stock Exchange, Inc.; Order Granting Approval to Proposed Rule Change to Eliminate the "E-Session" After-Hours Trading Session
August 15, 2001.
On July 2, 2001, 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")1and Rule 19b-4 thereunder,2a proposed rule change to delete CHX Article XXA, which governed an after-hours trading session (the "E-Session") conducted by the Exchange, and to eliminate other rule references to the E-Session.
Footnotes:
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
The proposed rule change was published for comment in the Federal Register on July 16, 2001.3The Commission received no comments on the proposal.
Footnotes:
3 See Securities Exchange Act Release No. 44534 (July 10, 2001), 66 FR 37081.
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 exchange4and, in particular, the requirements of section 6 of the Act5and the rules and regulations thereunder. The Commission finds specifically that the proposed rule change is consistent with section 6(b)(5) of the Act6because it will allow the CHX to terminate its after-hours trading session, which has not sustained the increases in order flow that the Exchange anticipated when it implemented the E-Session in early 2000.
Footnotes:
4 In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
5 15 U.S.C. 78f.
6 15 U.S.C. 78f(b)(5).
It is therefore ordered, pursuant to section 19(b)(2) of the Act,7that the proposed rule change (SR-CHX-2001-14) be, and it hereby is approved.
Footnotes:
7 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8
Footnotes:
8 17 CFR 200.30-3(a)(12).
Jonathan G. Katz,
Secretary.
[FR Doc. 01-21017 Filed 8-20-01; 8:45 am]
BILLING CODE 8010-01-M