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Published Document: E5-5454 (70 FR 58247)

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

On July 15, 2005, the American Stock Exchange LLC (“Amex”) filed with the ( printed page 58248) 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 its Participant Fee Schedule to suspend specialist transaction charges for the trading of Nasdaq-100 Index Tracking Stock® (“QQQQ”), retroactively from July 1, 2005 through July 17, 2005. On August 12, 2005, the Exchange filed Amendment No. 1 to the proposed rule change.[3] The proposed rule change, as amended, was published for comment in the Federal Register on August 23, 2005.[4] The Commission received no comments on the proposal.

The Commission finds that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.[5] In particular, the Commission believes that the proposal is consistent with Section 6(b)(4) of the Act [6] in that it provides for the equitable allocation of reasonable dues, fees, and other charges among its members.

It is therefore ordered, pursuant to Section 19(b)(2) of the Act,[7] that the proposed rule change (File No. SR-Amex-2005-078), as amended, be, and it hereby is, approved.

September 27, 2005.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority.[8]

Jonathan G. Katz,

Secretary.

Footnotes

3.  In Amendment No. 1, Amex made minor technical changes to the proposed rule text and provided further discussion on how the proposal is consistent with the requirement under Section 6(b)(4) of the Act to provide for the equitable allocation of reasonable dues, fees, and other charges among its members and issuers and other persons using its facilities. See 15 U.S.C. 78f(b)(4).

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4.   See Securities Exchange Act Release No. 52273 (August 16, 2005), 70 FR 49339.

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5.  In approving this proposed rule change, the Commission notes that it has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f).

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[FR Doc. E5-5454 Filed 10-4-05; 8:45 am]

BILLING CODE 8010-01-P