Self-Regulatory Organizations; The Municipal Securities Rulemaking Board; The National Association of Securities Dealers, Inc.; and The New York Stock Exchange, Inc.; Order Extending Comment Period for Proposed Rule Changes Regarding Confirmation and Affirmation Services

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-39944; File Nos. SR-MSRB-98-06, SR-NASD-98-20, SR-NYSE-

98-07]

Self-Regulatory Organizations; The Municipal Securities

Rulemaking Board; The National Association of Securities Dealers, Inc.;

and The New York Stock Exchange, Inc.; Order Extending Comment Period

for Proposed Rule Changes Regarding Confirmation and Affirmation

Services

May 1, 1998.

Recently, the Municipal Securities Rulemaking Board (``MSRB''), The

National Association of Securities Dealers, Inc. (``NASD''), and the

New York Stock Exchange, Inc. (``NYSE'') filed with the Securities and

Exchange Commission (``Commission'') proposed rule changes pursuant to

Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'')\1\

concerning amendments to their rules regarding confirmation and

affirmation services.\2\ Notices of the proposals were published in the

Federal Register on April 13, 1998.\3\

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\1\ 15 U.S.C. 78s(b)(1).

\2\ On February 18, 1998, the NYSE filed its proposed rule

change with the Commission (File No. SR-NYSE-98-07). On March 5,

1998, the NASD filed its proposed rule change with the Commission

(File No. SR-NASD-98-20). On April 3, 1998, the MSRB filed its

proposed rule change with the Commission (File No. SR-MSRB-98-06).

\3\ Securities Exchange Act Release Nos. 39830 (April 6, 1998),

63 FR 18060 (NYSE); 39831 (April 6, 1998), 63 FR 18057 (NASD); 39833

(April 6, 1998), 63 FR 18055 (MSRB).

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The notices of the proposals state that comments on the proposals

should be received by May 4, 1998. The Commission has received a

request that the comment period for the proposals be

[[Page 25532]]

extended for thirty days from May 4, 1998, to June 3, 1998.\4\ The

Commission finds that extending the comment period is appropriate in

order to give interested persons additional time to comment on the

matters that the proposals address.

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\4\ The requester stated, ``The requested extension is necessary

to allow for substantive review and comment on what are extremely

important issues for the securities industry.'' Letter from Mari-

Anne Pisarri, Pickard and Djinis, on behalf of Thomson Financial

Services (April 30, 1998).

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It is therefore ordered, pursuant to Section 19(b)(2) of the Act,

that the comment period for the proposed rule changes of the NYSE (File

No. SR-NYSE-98-07), the NASD (File No. SR-NASD-98-20), and the MSRB

(File No. SR-MSRB-(98-06) be and hereby is extended from May 4, 1998,

to June 3, 1998.

For the Commission by the Division of Market Regulation,

pursuant to delegated authority.\5\

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\5\ 17 CFR 200.30-3(a)(12).

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Jonathan G. Katz,

Secretary.

[FR Doc. 98-12263 Filed 5-7-98; 8:45 am]

BILLING CODE 8010-01-M