[Federal Register Volume 67, Number 3 (Friday, January 4, 2002)]
[Notices]
[Page 619]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-215]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45207; File No. SR-OPRA-2001-03]


Options Price Reporting Authority; Notice of Filing of Amendment 
to OPRA Plan To Exclude Foreign Currency Options From the Calculation 
of Capacity Allocation Provided for in the OPRA Plan

December 28, 2001.
    Pursuant to Rule 11Aa3-2 under the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on December 10, 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 (``OPRA Plan''). The amendment would exclude 
foreign currency options (``FCOs'') from the calculation of capacity 
allocation provided for in the OPRA Plan. 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), 22 
S.E.C. Docket 484 (March 31, 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).
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I. Description and Purpose of the Amendment

    The proposed amendment would revise certain provisions of section 
III, ``Definitions'' and section V(d), ``Quarterly Calculation of 
Capacity Allocation'' in order to exclude FCOs from the calculation of 
system capacity allocation that is provided for in the OPRA Plan and 
make available exclusively for the processing and dissemination of FCO 
market data a fixed amount of system capacity as determined by OPRA 
from time to time. The proposed amendment provides that the capacity 
available for FCO market data will be capable of handling at least 350 
messages per second (``mps''), the amount currently assigned by OPRA to 
FCO market data. OPRA represents that such capacity is sufficient to 
meet the anticipated needs of the FCO market. OPRA represents that the 
proposed amendment would make no substantive change to the provisions 
of the OPRA Plan.

II. Implementation of Plan Amendment

    OPRA intends to make the proposed amendment to the OPRA Plan 
effective immediately upon approval of the amendment by the Commission 
pursuant to Rule 11Aa3-2 under the Act.

III. Solicitation of Comments

    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-2001-03 and should be 
submitted by January 22, 2002.
    For the Commission, by the Division of Market Regulation, pursuant 
to delegated authority.\3\
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    \3\ 17 CFR 200.30-3(a)(29).

Margaret F. McFarland,
Deputy Secretary.
[FR Doc. 02-215 Filed 1-3-02; 8:45 am]
BILLING CODE 8010-01-M