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Notice

Self-Regulatory Organizations; Order Granting Approval to Proposed Rule Change by the Philadelphia Stock Exchange, Inc., Relating to Index Options Exercise Advices April 5, 1996. I. Introduction On December 28, 1995, the Philadelphia Stock Exchange, Inc. (``Phlx'' or ``Exchange'') submitted to 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 amend Phlx Rule 1042A, Exercise of Option Contracts, and Floor Procedure Advice (``Advice'') G-1, Exercise Requirements. The Phlx proposes to extend the deadline for the receipt or preparation of a memorandum to exercise, as well as the submission of an exercise advice form, from five minutes after the close of trading to 4:30 p.m. In addition, as minor changes to paragraph (ii) will result in the inclusion of the National Over-the- Counter Index option, Phlx Rule 1042A(a)(iii) will be deleted.

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