67 FR 13 pg. 2712 - Self-Regulatory Organizations; Order Approving Proposed Rule Change by The Chicago Stock Exchange, Incorporated Relating to Eligibility of Limit Orders for Trade Through Protection
Type: NOTICEVolume: 67Number: 13Page: 2712
Docket number: [Release No. 34-45271; File No. SR-CHX-2001-17]
FR document: [FR Doc. 02-1357 Filed 1-17-02; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-45271; File No. SR-CHX-2001-17]
Self-Regulatory Organizations; Order Approving Proposed Rule Change by The Chicago Stock Exchange, Incorporated Relating to Eligibility of Limit Orders for Trade Through Protection
January 11, 2002.
On August 6, 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 that would amend CHX Article XX, Rule 37(b)(6) to require that a limit order be resident in the specialist's book for a time period of 0-15 seconds (as designated by the specialist) before it would be eligible for trade through protection.
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 December 5, 2001.3The Commission received no comments on the proposal.
Footnotes:
3 See Securities Exchange Act Release No. 45115 (November 28, 2001), 66 FR 63269 (December 5, 2001).
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 Act6in that it designed to promote just and equitable principles of trade, to remove impediments to, and to perfect the mechanism of a free and open market and a national market system, and in general to protect investors and the public interest.
Footnotes:
4 In approving this proposed rule change, the Commission notes that it 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. 78s(b)(2).
It is therefore ordered , pursuant to section 19(b)(2) of the Act,7that the proposed rule change (File No. SR-CHX-2001-17) 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).
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-1357 Filed 1-17-02; 8:45 am]
BILLING CODE 8010-01-M