Options Price Reporting Authority; Order Approving an Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Adopt New Form of Vendor Affiliate Agreement, 31728-31729 [E8-12315]

Download as PDF 31728 Federal Register / Vol. 73, No. 107 / Tuesday, June 3, 2008 / Notices This meeting will be Webcast live at the Web address—https://www.nrc.gov. Week of June 9, 2008—Tentative There are no meetings scheduled for the Week of June 9, 2008. Week of June 16, 2008—Tentative There are no meetings scheduled for the Week of June 16, 2008. Week of June 23, 2008—Tentative Friday, June 27, 2008 9:30 a.m. Periodic Briefing on New Reactor Issues (Public Meeting) (Contact: Donna Williams, (301) 415–1322). This meeting will be Webcast live at the Web address—https://www.nrc.gov. Week of June 30, 2008—Tentative Tuesday, July 1, 2008 9 a.m. Hearing: Diablo Canyon, 10 CFR Part 2, Subpart K Proceeding, Oral Arguments (Public Meeting) (Contact: John Cordes, (301) 415– 1600). This meeting will be Webcast live at the Web address—https://www.nrc.gov. Week of July 7, 2008—Tentative need this meeting notice or the transcript or other information from the public meetings in another format (e.g. braille, large print), please notify the NRC’s Disability Program Coordinator, Rohn Brown, at 301–492–2279, TDD: 301–415–2100, or by e-mail at REB3@nrc.gov. Determinations on requests for reasonable accommodation will be made on a case-by-case basis. This notice is distributed by mail to several hundred subscribers; if you no longer wish to receive it, or would like to be added to the distribution, please contact the Office of the Secretary, Washington, DC 20555 (301–415–1969). In addition, distribution of this meeting notice over the Internet system is available. If you are interested in receiving this Commission meeting schedule electronically, please send an electronic message to dkw@nrc.gov. • The U.S. Customs/Border Protection’s CTPAT Program—how it impacts small business. Dated: May 29, 2008. R. Michelle Schroll, Office of the Secretary. [FR Doc. 08–1315 Filed 5–30–08; 10:30 am] May 28, 2008. BILLING CODE 7590–01–P OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE Notice of Meeting of the Industry Trade Advisory Committee on Small and Minority Business (ITAC–11) Additional Information ebenthall on PRODPC60 with NOTICES There are no meetings scheduled for the Week of July 7, 2008. *The schedule for Commission meetings is subject to change on short notice. To verify the status of meetings, call (recording)—(301) 415–1292. Contact person for more information: Michelle Schroll, (301) 415–1662. SUMMARY: The Industry Trade Advisory Committee on Small and Minority Business (ITAC–11) will hold a meeting on Monday, June 9, 2008, from 9 a.m. to 4 p.m. The meeting will be closed to the public from 9 a.m. to 1 p.m. and opened to the public from 1 p.m. to 4 p.m. DATES: The meeting is scheduled for June 9, 2008, unless otherwise notified. ADDRESSES: The meeting will be held at the Enterprise Florida, One Orlando Center—800 North Magnolia, Suite 1100, Orlando, Florida. FOR FURTHER INFORMATION CONTACT: Laura Hellstern, DFO for ITAC–11 at (202) 482–3222, Department of Commerce, 14th Street and Constitution Avenue, NW., Washington, DC 20230. SUPPLEMENTARY INFORMATION: During the opened portion of the meeting the following agenda items will be considered. • APEC SME Ministerial. • America’s Competitiveness Forum. • Export Opportunities in FTA Areas. • Patent Reform Legislation. Affirmation of (1) Oyster Creek, Indian Point, Pilgrim, and Vermont Yankee License Renewals, Docket Nos. 50–219–LR, 50–247–LR, 50–286–LR, 50–293–LR, 50–271–LR, Petition to Suspend Proceedings (Tentative); and (2) U.S. Department of Energy (High Level Waste Repository: Pre-Application Matters), Docket No. PAPO–00—The State of Nevada’s Notice of Appeal from the PAPO Board’s January 4, 2008 and December 12, 2007 Orders and The State of Nevada’s Motion to File a Limited Reply (Tentative) previously scheduled on Wednesday, May 26, 2008 at 9:25 a.m. was postponed and is not yet rescheduled. The NRC Commission Meeting Schedule can be found on the Internet at: https://www.nrc.gov/about-nrc/policymaking/schedule.html. The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or VerDate Aug<31>2005 14:18 Jun 02, 2008 Jkt 214001 Office of the United States Trade Representative. ACTION: Notice of a Partially Opened Meeting. AGENCY: PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 Tiffany M. Moore, Assistant U.S. Trade Representative for Intergovernmental Affairs and Public Liaison. [FR Doc. E8–12322 Filed 6–2–08; 8:45 am] BILLING CODE 3190–W7–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57878; File No. SR–OPRA– 2008–01] Options Price Reporting Authority; Order Approving an Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Adopt New Form of Vendor Affiliate Agreement I. Introduction On March 3, 2008, the Options Price Reporting Authority (‘‘OPRA’’) submitted to the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 11A of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 608 thereunder,2 an amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information (‘‘OPRA Plan’’).3 The proposed OPRA Plan amendment would adopt a new form of ‘‘Vendor Affiliate Agreement’’ that may be used by an affiliate of an OPRA ‘‘Vendor’’ that wants also to become a Vendor. OPRA’s Fee Schedule would be modified to state that OPRA will waive its ‘‘Redistribution Fee’’ for all affiliates in a corporate family with which OPRA agrees to Vendor Affiliate Agreements. The proposed OPRA Plan amendment was published for comment in the Federal Register on March 26, 2008.4 The Commission received no comment letters in response to the Notice. On 1 15 U.S.C. 78k–1. 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. 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 https://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 seven participants to the OPRA Plan are the American Stock Exchange LLC, the Boston Stock Exchange, Inc., the Chicago Board Options Exchange, Incorporated, the International Securities Exchange, Inc., the NASDAQ Stock Market LLC, the NYSE Arca, Inc., and the Philadelphia Stock Exchange, Inc. 4 See Securities Exchange Act Release No. 57530 (March 19, 2008), 73 FR 16078 (‘‘Notice’’). 2 17 E:\FR\FM\03JNN1.SGM 03JNN1 Federal Register / Vol. 73, No. 107 / Tuesday, June 3, 2008 / Notices May 16, 2008, OPRA submitted a revised version of Exhibit I to its proposed Plan Amendment.5 This order approves the proposed OPRA Plan amendment. II. Description of the Proposal OPRA’s current form of Vendor Agreement authorizes only the Vendor itself, and not any of its affiliates, to disseminate OPRA Data. As a matter of policy, OPRA has permitted Vendors to disseminate OPRA Data through whollyowned subsidiaries. However, OPRA has not permitted Vendors to disseminate OPRA Data through other affiliates that have not themselves signed Vendor Agreements with OPRA. Many Vendors conduct business through corporate families, for a variety of reasons. OPRA requires each OPRA Vendor to pay a monthly ‘‘Redistribution Fee,’’ 6 and OPRA has from time to time received requests to alleviate the financial consequence that OPRA’s current policy imposes on some Vendor families. Accordingly, OPRA is proposing to amend its Fee Schedule to provide that OPRA will waive its Redistribution Fee for Vendor affiliates that themselves become Vendors pursuant to ‘‘Vendor Affiliate Agreements,’’ and is proposing to adopt a new form of ‘‘Vendor Affiliate Agreement.’’ In effect, the form of Vendor Affiliate Agreement is a ‘‘short form’’ Vendor Agreement that can be signed by an additional member of a Vendor’s corporate family. The proposed form would require the additional member of a corporate family to acknowledge that it is subject to and bound by the terms of the ‘‘lead’’ Vendor’s Vendor Agreement just as if it had signed the Agreement itself. The proposed form is designed so that it can be used by affiliates of a current OPRA Vendor without any need for the current Vendor to sign a new Vendor Agreement.7 III. Discussion After careful review, the Commission finds that the proposed OPRA Plan amendment is consistent with the requirements of the Act and the rules ebenthall on PRODPC60 with NOTICES 5 The revised Exhibit I made merely technical changes to the original Exhibit I and therefore need not be published for comment. 6 OPRA’s Redistribution Fee is currently $650/ month for ‘‘Internet service only’’ Vendors, and $1,500/month for all other Vendors. 7 However, the current Vendor (or a new ‘‘lead’’ Vendor) would be required to identify its affiliate(s) that will sign Vendor Affiliate Agreements in its ‘‘Description of Vendor’s Service’’—Exhibit A to its Vendor Agreement—as in effect from time to time. The lead Vendor would also be required to describe the dissemination of OPRA Data by such affiliate(s) in its Exhibit A. VerDate Aug<31>2005 14:18 Jun 02, 2008 Jkt 214001 and regulations thereunder.8 Specifically, the Commission finds that the proposed OPRA Plan amendment is consistent with section 11A of the Act 9 and Rule 608 thereunder 10 in that it is appropriate in the public interest, for the protection of investors and the maintenance of fair and orderly markets, and to remove impediments to, and perfect the mechanism of, a national market system. OPRA’s Vendor Agreement governs the terms and conditions under which vendors redistribute options market data to subscribers and other end users of the information. The Commission finds that OPRA’s proposal to adopt a new form of Vendor Affiliate Agreement and to waive its Redistribution Fee for an affiliate of an OPRA Vendor should facilitate distribution of OPRA Data through OPRA Vendors who conduct business within a corporate family. Therefore, the Commission believes that OPRA’s proposal is consistent with section 11A of the Act 11 and the Rule 608 thereunder.12 IV. Conclusion It is therefore ordered, pursuant to section 11A of the Act,13 and Rule 608 thereunder,14 that the proposed OPRA Plan amendment (SR–OPRA–2008–01) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Florence E. Harmon, Acting Secretary. [FR Doc. E8–12315 Filed 6–2–08; 8:45 am] 31729 Incident Period: 05/22/2008. Effective Date: 05/26/2008. Physical Loan Application Deadline Date: 07/25/2008. Economic Injury (EIDL) Loan Application Deadline Date: 02/26/2009. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: F. Adinolfe, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President’s major disaster declaration on 05/26/2008, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties (Physical Damage and Economic Injury Loans): Larimer, Weld Contiguous Counties (Economic Injury Loans Only): Colorado: Adams, Boulder, Grand, Jackson, Logan, Morgan Nebraska: Kimball Wyoming: Albany, Laramie The Interest Rates are: DATES: Percent BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 11262 and # 11263] Colorado Disaster # CO–00021 U.S. Small Business Administration. ACTION: Notice. AGENCY: SUMMARY: This is a Notice of the Presidential declaration of a major disaster for the State of Colorado (FEMA–1762–DR), dated 05/26/2008. Incident: Severe Storms and Tornadoes. 8 In approving this proposed OPRA Plan Amendment, the Commission has considered its impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 9 15 U.S.C. 78k–1. 10 17 CFR 242.608. 11 15 U.S.C. 78k–1. 12 17 CFR 242.608. 13 15 U.S.C. 78k–1. 14 17 CFR 242.608. 15 17 CFR 200.30–3(a)(29). PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 For Physical Damage: Homeowners With Credit Available Elsewhere ...................... Homeowners Without Credit Available Elsewhere .............. Businesses With Credit Available Elsewhere ...................... Other (Including Non-Profit Organizations) With Credit Available Elsewhere .............. Businesses and Non-Profit Organizations Without Credit Available Elsewhere .............. For Economic Injury: Businesses & Small Agricultural Cooperatives Without Credit Available Elsewhere .............. 5.375 2.687 8.000 5.250 4.000 4.000 The number assigned to this disaster for physical damage is 11262C and for economic injury is 112630. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E8–12356 Filed 6–2–08; 8:45 am] BILLING CODE 8025–01–P E:\FR\FM\03JNN1.SGM 03JNN1

Agencies

[Federal Register Volume 73, Number 107 (Tuesday, June 3, 2008)]
[Notices]
[Pages 31728-31729]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-12315]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57878; File No. SR-OPRA-2008-01]


Options Price Reporting Authority; Order Approving an Amendment 
to the Plan for Reporting of Consolidated Options Last Sale Reports and 
Quotation Information To Adopt New Form of Vendor Affiliate Agreement

May 28, 2008.

I. Introduction

    On March 3, 2008, the Options Price Reporting Authority (``OPRA'') 
submitted to the Securities and Exchange Commission (``Commission''), 
pursuant to section 11A of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 608 thereunder,\2\ an amendment to the Plan for 
Reporting of Consolidated Options Last Sale Reports and Quotation 
Information (``OPRA Plan'').\3\ The proposed OPRA Plan amendment would 
adopt a new form of ``Vendor Affiliate Agreement'' that may be used by 
an affiliate of an OPRA ``Vendor'' that wants also to become a Vendor. 
OPRA's Fee Schedule would be modified to state that OPRA will waive its 
``Redistribution Fee'' for all affiliates in a corporate family with 
which OPRA agrees to Vendor Affiliate Agreements. The proposed OPRA 
Plan amendment was published for comment in the Federal Register on 
March 26, 2008.\4\ The Commission received no comment letters in 
response to the Notice. On

[[Page 31729]]

May 16, 2008, OPRA submitted a revised version of Exhibit I to its 
proposed Plan Amendment.\5\
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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. 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 https://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 seven participants to the OPRA Plan 
are the American Stock Exchange LLC, the Boston Stock Exchange, 
Inc., the Chicago Board Options Exchange, Incorporated, the 
International Securities Exchange, Inc., the NASDAQ Stock Market 
LLC, the NYSE Arca, Inc., and the Philadelphia Stock Exchange, Inc.
    \4\ See Securities Exchange Act Release No. 57530 (March 19, 
2008), 73 FR 16078 (``Notice'').
    \5\ The revised Exhibit I made merely technical changes to the 
original Exhibit I and therefore need not be published for comment.
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    This order approves the proposed OPRA Plan amendment.

II. Description of the Proposal

    OPRA's current form of Vendor Agreement authorizes only the Vendor 
itself, and not any of its affiliates, to disseminate OPRA Data. As a 
matter of policy, OPRA has permitted Vendors to disseminate OPRA Data 
through wholly-owned subsidiaries. However, OPRA has not permitted 
Vendors to disseminate OPRA Data through other affiliates that have not 
themselves signed Vendor Agreements with OPRA. Many Vendors conduct 
business through corporate families, for a variety of reasons. OPRA 
requires each OPRA Vendor to pay a monthly ``Redistribution Fee,'' \6\ 
and OPRA has from time to time received requests to alleviate the 
financial consequence that OPRA's current policy imposes on some Vendor 
families.
---------------------------------------------------------------------------

    \6\ OPRA's Redistribution Fee is currently $650/month for 
``Internet service only'' Vendors, and $1,500/month for all other 
Vendors.
---------------------------------------------------------------------------

    Accordingly, OPRA is proposing to amend its Fee Schedule to provide 
that OPRA will waive its Redistribution Fee for Vendor affiliates that 
themselves become Vendors pursuant to ``Vendor Affiliate Agreements,'' 
and is proposing to adopt a new form of ``Vendor Affiliate Agreement.'' 
In effect, the form of Vendor Affiliate Agreement is a ``short form'' 
Vendor Agreement that can be signed by an additional member of a 
Vendor's corporate family. The proposed form would require the 
additional member of a corporate family to acknowledge that it is 
subject to and bound by the terms of the ``lead'' Vendor's Vendor 
Agreement just as if it had signed the Agreement itself. The proposed 
form is designed so that it can be used by affiliates of a current OPRA 
Vendor without any need for the current Vendor to sign a new Vendor 
Agreement.\7\
---------------------------------------------------------------------------

    \7\ However, the current Vendor (or a new ``lead'' Vendor) would 
be required to identify its affiliate(s) that will sign Vendor 
Affiliate Agreements in its ``Description of Vendor's Service''--
Exhibit A to its Vendor Agreement--as in effect from time to time. 
The lead Vendor would also be required to describe the dissemination 
of OPRA Data by such affiliate(s) in its Exhibit A.
---------------------------------------------------------------------------

III. Discussion

    After careful review, the Commission finds that the proposed OPRA 
Plan amendment is consistent with the requirements of the Act and the 
rules and regulations thereunder.\8\ Specifically, the Commission finds 
that the proposed OPRA Plan amendment is consistent with section 11A of 
the Act \9\ and Rule 608 thereunder \10\ in that it is appropriate in 
the public interest, for the protection of investors and the 
maintenance of fair and orderly markets, and to remove impediments to, 
and perfect the mechanism of, a national market system.
---------------------------------------------------------------------------

    \8\ In approving this proposed OPRA Plan Amendment, the 
Commission has considered its impact on efficiency, competition, and 
capital formation. 15 U.S.C. 78c(f).
    \9\ 15 U.S.C. 78k-1.
    \10\ 17 CFR 242.608.
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    OPRA's Vendor Agreement governs the terms and conditions under 
which vendors redistribute options market data to subscribers and other 
end users of the information. The Commission finds that OPRA's proposal 
to adopt a new form of Vendor Affiliate Agreement and to waive its 
Redistribution Fee for an affiliate of an OPRA Vendor should facilitate 
distribution of OPRA Data through OPRA Vendors who conduct business 
within a corporate family. Therefore, the Commission believes that 
OPRA's proposal is consistent with section 11A of the Act \11\ and the 
Rule 608 thereunder.\12\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78k-1.
    \12\ 17 CFR 242.608.
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to section 11A of the Act,\13\ 
and Rule 608 thereunder,\14\ that the proposed OPRA Plan amendment (SR-
OPRA-2008-01) be, and it hereby is, approved.
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    \13\ 15 U.S.C. 78k-1.
    \14\ 17 CFR 242.608.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
Florence E. Harmon,
Acting Secretary.
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    \15\ 17 CFR 200.30-3(a)(29).
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 [FR Doc. E8-12315 Filed 6-2-08; 8:45 am]
BILLING CODE 8010-01-P
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