[Federal Register Volume 66, Number 19 (Monday, January 29, 2001)]
[Notices]
[Pages 8125-8126]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2473]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-43865; File No. SR-OPRA-01-01]


Options Price Reporting Authority; Notice of Filing and Immediate 
Effectiveness of Amendment to OPRA Plan To Establish Certain 
Notification Requirements of the Plan Processor and To Make Minor 
Editorial Revisions

January 22, 2001.
    Pursuant to Rule 11Aa3-2 under the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on January 16, 2001, the 
Options Price Reporting Authority (``OPRA''),\2\ submitted to the 
Securities and Exchange Commission (``Commission'') an amendment to the 
Plan for Reporting of Consolidated Options Last Sale Reports and 
Quotation Information (``Plan''). The amendment would establish certain 
notification requirements of the Plan Processor and make minor 
editorial revisions to the Plan. OPRA has stated that the proposed 
amendment involves solely technical or ministerial matters and is, 
therefore, effective upon filing, pursuant to Rule 11Aa3-2(c)(3)(iii) 
under the Act.\3\ The Commission is publishing this notice to solicit 
comments on the proposed amendment from interested persons.
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    \1\ 17 CFR 240.11Aa3-2.
    \2\ OPRA is a national market system plan approved by the 
Commission pursuant to Section 11A of the Exchange Act, 15 U.S.C. 
78k-1, and Rule 11Aa3-2 thereunder, 17 CFR 240.11Aa3-2. See 
Securities Exchange Act Release No. 17638 (March 18, 1981). The OPRA 
Plan provides for the collection and dissemination of last sale and 
quotation information on options that are traded on the participant 
exchanges. The five signatories to the OPRA Plan that currently 
operate an options market are the American Stock Exchange, the 
Chicago Board Options Exchange, the International Securities 
Exchange, the Pacific Exchange, and the Philadelphia Stock Exchange. 
The New York Stock Exchange is a signatory to the OPRA Plan, but 
sold its options business to the Chicago Board Options Exchange in 
1997. See Securities Exchange Act Release No. 38542 (April 23, 
1997), 62 FR 23521 (April 30, 1997).
    \3\ 17 CFR 240.11Aa3-2(c)(3)(iii).
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I. Description and Purpose of the Amendment

    On November 27, 2000, the Commission approved an amendment to the 
Plan,\4\ pursuant to section 11A(a)(3)(B) of the Act \5\ and Rule 
11Aa3-2(b)(2)\6\ thereunder. The Commission Amendment established a 
formula for allocating OPRA systems capacity among the OPRA 
participants during peak usage periods. The purpose of the proposed 
amendment is to conform the language added to the Plan by the 
Commission Amendment to the language and style of the remainder of the 
Plan, and to make additional nonsubstantive editorial changes to the 
Commission Amendment language to clarify its meaning and operation. The 
proposed amendment also would require the Plan Processor to notify each 
party and the Commission whenever total systems capacity reaches 90 
percent of total available systems capacity or whenever the capacity 
allocation procedures provided for in the Plan go into effect or are 
discontinued. OPRA has stated that,

[[Page 8126]]

except for these notification provisions, the proposed amendment would 
make no substantive change to the provisions of the Plan that were 
added pursuant to the Commission Amendment.
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    \4\ See Securities Exchange Act Release No. 43621 (November 27, 
2000), 65 FR 75564 (December 1, 2000) (``Commission Amendment'').
    \5\ 15 U.S.C. 78k-1(a)(3)(B).
    \6\ 17 CFR 240.11Aa3-2(b)(2).
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II. Solicitation of Comments

    OPRA has stated that the proposed amendment involves solely 
technical or ministerial matters and is, therefore, effective upon 
filing, pursuant to Rule 11Aa3-2(c)(3)(iii) under the Act.\7\
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    \7\ 17 CFR 240.11Aa3-2(c)(3)(iii).
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    At any time within 60 days of the filing of the amendment, the 
Commission may summarily abrogate the amendment and require that such 
amendment be filed in accordance with Rule 11Aa3-2(b)(1) under the Act 
\8\ and reviewed in accordance with rule 11Aa3-2(c)(2) under the Act 
\9\ if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
the maintenance of fair and orderly markets; to remove impediments to, 
and perfect the mechanisms of, a national market system; or otherwise 
in furtherance of the purposes of the Act.
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    \8\ 17 CFR 240.11Aa3-2(b)(1).
    \9\ 17 CFR 240.11Aa3-2(c)(2).
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    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed plan 
amendment is consistent with the Act. Persons making written 
submissions should file six copies thereof with the Secretary, 
Securities and Exchange Commission, 450 Fifth Street NW., Washington, 
DC 20549-0609. Copies of the submission, all subsequent amendments, and 
all written statements with respect to the proposed plan amendment that 
are filed with the Commission, and all written communications relating 
to the proposed plan amendment between the Commission and any person, 
other than those withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for inspection and 
copying in the Commission's Public Reference Room. Copies of the filing 
will also be available at the principal offices of OPRA. All 
submissions should refer to File No. SR-OPRA-01-01 and should be 
submitted by February 20, 2001.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(29).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-2473 Filed 1-26-01; 8:45 am]
BILLING CODE 8010-01-M