[Federal Register Volume 77, Number 177 (Wednesday, September 12, 2012)]
[Notices]
[Page 56243]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-22394]



[[Page 56243]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67791; File No. SR-OPRA-2012-05]


Options Price Reporting Authority; Notice of Filing and Immediate 
Effectiveness of Proposed Amendment to the Plan for Reporting of 
Consolidated Options Last Sale Reports and Quotation Information To 
Amend Section 3.1 of the OPRA Plan

September 6, 2012.
    Pursuant to Section 11A of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given that 
on August 27, 2012, the Options Price Reporting Authority (``OPRA'') 
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'').\3\ The proposed 
amendment would make a clarifying change to Section 3.1 of the OPRA 
Plan. The Commission is publishing this notice to solicit comments from 
interested persons on the proposed OPRA Plan amendment.
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    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ The OPRA Plan is a national market system plan approved by 
the Commission pursuant to Section 11A of the Act and Rule 608 
thereunder (formerly Rule 11Aa3-2). See Securities Exchange Act 
Release No. 17638 (March 18, 1981), 22 S.E.C. Docket 484 (March 31, 
1981). The full text of the OPRA Plan is available at http://www.opradata.com.
    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 ten participants to the OPRA Plan are 
BATS Exchange, Inc., BOX Options Exchange, LLC, Chicago Board 
Options Exchange, Incorporated, C2 Options Exchange, Incorporated, 
International Securities Exchange, LLC, NASDAQ OMX BX, Inc., NASDAQ 
OMX PHLX LLC, NASDAQ Stock Market LLC, NYSE MKT LLC, and NYSE Arca, 
Inc.
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I. Description and Purpose of the Plan Amendment

    The purpose of the Amendment is to eliminate an ambiguity in the 
way in which the current OPRA Plan describes Exhibit A to the Plan, 
which consists of a list of the national securities exchanges that are 
Members of OPRA. Section 3.1 of the Plan describes Exhibit A as a list 
of the ``initial'' Members of OPRA, suggesting that the list includes 
only those exchanges that were Members when OPRA was restructured as a 
limited liability company on January 1, 2010. By contrast, the 
definition of ``Member'' in Section 1.1 of the Plan correctly states 
that ``Exhibit A * * * may be amended to include any other national 
securities exchange that becomes a Member pursuant to the provisions of 
Section 3.2.'' To eliminate this ambiguity it is proposed to eliminate 
the word ``initial'' from both the heading and text of Section 3.1, so 
that as amended that Section is clear that Exhibit A lists all current 
Members of OPRA from time to time, and not just the ``initial'' 
Members.\4\
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    \4\ Seven national securities exchanges were Members of OPRA on 
January 1, 2010. Since then, two of those seven exchanges have 
changed their names, and three additional exchanges have become 
Members of OPRA.
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    The text of the proposed amendment to the OPRA Plan is available at 
OPRA, the Commission's Public Reference Room, http://opradata.com, and 
on the Commission's Web site at www.sec.gov.

II. Implementation of the OPRA Plan Amendment

    Pursuant to paragraph (b)(3)(ii) of Rule 608 of Regulation NMS 
under the Act \5\ OPRA designated the proposed OPRA Plan amendment as 
concerned solely with the administration of the OPRA Plan, thereby 
qualifying for effectiveness upon filing.
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    \5\ 17 CFR 242.608(b)(3)(ii).
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    The Commission may summarily abrogate the amendment within sixty 
days of its filing and require refiling and approval of the amendment 
by Commission order pursuant to Rule 608(b)(2) under the Act \6\ 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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    \6\ 17 CFR 242.608(b)(2).
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III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed OPRA 
Plan amendment is consistent with the Act. Comments may be submitted by 
any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File No. SR-OPRA-2012-05 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-OPRA-2012-05. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, 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 that may be withheld from the public in accordance 
with the provisions of 5 U.S.C. 552, will be available for Web site 
viewing and printing in the Commission's Public Reference Room, 100 F 
Street NE., Washington, DC 20549, on official business days between the 
hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be 
available for inspection and copying at the principal office of OPRA. 
All comments received will be posted without change; the Commission 
does not edit personal identifying information from submissions. You 
should submit only information that you wish to make available 
publicly. All submissions should refer to File Number SR-OPRA-2012-05 
and should be submitted on or before October 3, 2012.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(29).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-22394 Filed 9-11-12; 8:45 am]
BILLING CODE 8011-01-P