WASHINGTON -- The Securities and Exchange Commission has given the Pacific Stock Exchange Inc. until Nov. 2 of next year to begin a pilot program to allow trading of municipal bonds on the exchange.

The SEC announced the extension in a notice in the Federal Register yesterday, but said it would accept public comments on the matter through Nov. 25.

The SEC had previously given the exchange until July 5, 1994, to conduct the pilot program, but extended the date to Nov. 2 after the exchange said it needed more time to evaluate the program.

The Pacific Stock Exchange is one of several exchanges that have authority to trade municipal bonds, but thus far only one bond issue has been traded on an exchange, according to federal regulatory officials.

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