[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] ----------------------------------------------------------------------- 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. --------------------------------------------------------------------------- \1\15 U.S.C. 78s(b)(1) (1988). --------------------------------------------------------------------------- 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