Sprinkle the fish on both sides with the salt, 1/2 tsp. of the pepper and the Pernod. Cover and let stand at room temperature for 30 minutes.

Brush each fish on both sides with the olive oil and let stand, covered, for 30 minutes longer.

In a food processor, place the shallot and olives and process until finely chopped, about 30 seconds. Add the butter, chives, parsley and remaining 1/8 tsp. pepper and process until well blended, about 30 seconds. Transfer to a bowl, cover and refrigerate. (The olive butter can be prepared to this point up to 2 days ahead. Remove from the refrigerator 30 minutes before serving.)

Light a charcoal grill or preheat the broiler. Brush the grill rack or broiler pan lightly with the vegetable oil and cook the fish, either

Yield: 6 servings