[Federal Register Volume 59, Number 31 (Tuesday, February 15, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-3499]


[[Page Unknown]]

[Federal Register: February 15, 1994]


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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-33598; International Series Release No. 636; File No. 
SR-OCC-93-18]

 

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
Relating To Restructuring of an Associate Clearinghouse of OCC

February 8, 1994
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on December 2, 1993, The 
Options Clearing Corporation (``OCC'') filed with the Securities and 
Exchange Commission (``Commission'') the proposed rule change as 
described in Items I, II, and III below, which Items have been prepared 
primarily by OCC. The Commission is publishing this notice to solicit 
comments from interested persons on the proposed rule change.
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    \1\15 U.S.C. 78s(b)(1) (1988).
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The proposed rule change will permit the restructuring of an 
associate clearinghouse of OCC which facilitates the issuance, 
clearance, and settlement of options on the Major Market Index 
(``XMI'') traded on the European Options Exchange (``EOE'') that are 
identical to and fungible with those traded on the American Stock 
Exchange (``AMEX'').

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, OCC included statements 
concerning the purpose of and basis for the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. OCC has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In August 1987, the Commission approved a proposal that enabled OCC 
to issue, clear, and settle XMI options traded on the EOE that are 
identical to and fungible with XMI options traded on AMEX.\2\ To 
perform such functions, OCC entered into several agreements including 
an international market Agreement: XMI Options (``IMA'') with AMEX and 
EOE and an Associate Clearinghouse Agreement (``ACA'') with ACHA 
Associate Clearing House Amsterdam B.V. (``ACHA''). The IMA governs the 
relationships among OCC, AMEX, and EOE with respect to the issuance, 
trading, and clearance of XMI options, and the ACA governs the 
relationship between ACHA and OCC with respect to the clearance and 
settlement of transactions in XMI options by EOE Members. ACHA is a 
wholly-owned subsidiary of the EOCC Clearing Corporation B.V. 
(``EOCC''), which was formed to interface with OCC for such purposes. 
Under the ACA, ACHA is both an associated clearinghouse and an index 
clearing member of OCC. In addition to the IMA andment, Office of 
Investment Company Regulation).

SUPPLEMENTARY INFORMATION: The following is a summary of the 
application. The complete application may be obtained for a fee from 
the SEC's Public Reference Branch.

Applicant's Representations

    1. Applicant is a Maryland corporation, and an open-end, 
diversified, management investment company. On April 10, 1992, 
applicant registered under the Act and filed a registration statement 
pursuant to section 8(b) under the Act. On t Meetings
    The Working Group on Radiocommunications of the Subcommittee on 
Safety of Life at Sea will conduct open meetings at 9:30 a.m. on April 
27, 1994, and June 15, 1994. These meetings will be held in the 
Department of Transportation Headquarters Building, 400 Seventh Street, 
SW., Washington, DC 20950.
    The purpose of these meetings is to prepare for the 40th Session of 
the International Maritime Organization (IMO) Subcommittee on 
Radiocommunications which is scheduled for early 1995, at the IMO 
headquarters in London, England.
    Agenda items include preparation for the 40th Session, primarily 
related to the implementation of the Global Maritime Distress and 
Safety System (GMDSS).
    Members of the public may attend these meetings up to the seating 
capacity of the room.
    For further information and meeting room number, contact Mr. Ronald 
J. Grandmaison, U.S. Coast Guard Headquarters (G-TTM), 2100 Second 
Street, SW., Washington, DC 20593-0001. Telephone: (202) 267-1389.


    Dated: January 13, 1994.
Geoffrey Ogden,
Chairman, Shipping Coordinating Committee.
[FR Doc. 94-3499 Filed 2-14-94; 8:45 am]
BILLING CODE 4710-07-M