

[Federal Register: January 19, 2006 (Volume 71, Number 12)]
[Notices]               
[Page 3137-3138]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr19ja06-129]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53102; File No. SR-BSE-2005-48]

 
Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Order 
Granting Approval of a Proposed Rule Change and Amendment No. 1 Thereto 
Requiring Exchange Members To Provide Electronic Mail Addresses to the 
Exchange

 January 11, 2006.
    On October 28, 2005, the Boston Stock Exchange, Inc. (``BSE'' or 
``Exchange'') filed with 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 require its members to provide

[[Page 3138]]

electronic mail addresses to the Exchange. On November 23, 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 December 12, 2005.\4\ The Commission received no 
comments on the proposal. This order approves the proposed rule change, 
as amended.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, BSE made clarifying changes to its 
statement of purpose for the proposed rule change.
    \4\ Securities Exchange Act Release No. 52895 (December 5, 
2005), 70 FR 73490 (December 12, 2005) (SR-BSE-2005-48).
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    Proposed Section 1(o) of Chapter XXV of BSE's rules provides that 
every member and member organization shall designate one or more 
electronic mail addresses for the purpose of receiving Exchange notices 
and communications and shall promptly update those electronic mail 
addresses when those addresses change or are no longer valid. In 
addition, proposed Section 1(o) of Chapter XXV provides that an 
authorized representative of the Exchange may elect to transmit notices 
or other communications to members and member organizations 
electronically, but that nothing in Section 1(o) of Chapter XXV shall 
be construed to supersede or modify either the method for service of 
process or other materials in any disciplinary proceeding or any other 
provisions of the Exchange rules setting out a specific method for the 
receipt of information from the Exchange.
    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.\5\ The 
Commission believes that the proposed rule change, as amended, is 
consistent with Section 6(b) of the Act,\6\ in general, and furthers 
the objectives of Section 6(b)(5) of the Act,\7\ in particular, in that 
it promotes just and equitable principles of trade, serves to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system, and protects investors and the public 
interest by allowing the Exchange to take advantage of available 
technology to communicate with its members in an efficient and cost-
effective manner.
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    \5\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition, and capital 
formation. See 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-BSE-2005-48), as amended, is 
approved.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-516 Filed 1-18-06; 8:45 am]

BILLING CODE 8010-01-P
