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”)  and Rule 19b-4 thereunder, a 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.
The proposed rule change was published for comment in the Federal Register on July 16, 2001. The Commission received no comments on the proposal.
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 exchange  and, in particular, the requirements of section 6 of the Act  and the rules and regulations thereunder. The Commission finds specifically that the proposed rule change is consistent with section 6(b)(5) of the Act  because 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.
It is therefore ordered, pursuant to section 19(b)(2) of the Act, that the proposed rule change (SR-CHX-2001-14) be, and it hereby is approved.
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.Start Signature
Jonathan G. Katz,
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).Back to Citation
[FR Doc. 01-21017 Filed 8-20-01; 8:45 am]
BILLING CODE 8010-01-M