Options Price Reporting Authority; Order Approving an Amendment, as Modified by Amendment No. 1 Thereto, to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Amend OPRA's Vendor Agreement and Related Documents and To Adopt a New Policy, 51651-51652 [E8-20469]
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Federal Register / Vol. 73, No. 172 / Thursday, September 4, 2008 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58434; File No. SR–OPRA–
2008–02]
Options Price Reporting Authority;
Order Approving an Amendment, as
Modified by Amendment No. 1 Thereto,
to the Plan for Reporting of
Consolidated Options Last Sale
Reports and Quotation Information To
Amend OPRA’s Vendor Agreement and
Related Documents and To Adopt a
New Policy
August 27, 2008.
I. Introduction
On May 30, 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 On July 1, 2008, OPRA
submitted Amendment No. 1 to the
proposed amendment to the OPRA Plan.
The proposed OPRA Plan amendment,
as modified by Amendment No. 1,
would modify OPRA’s Vendor
Agreement in several respects,
including revising OPRA’s definition of
the term ‘‘Nonprofessional.’’ In
connection with the revision of the term
‘‘Nonprofessional,’’ the proposed OPRA
Plan amendment would also amend
OPRA’s ‘‘Electronic Form of Subscriber
Agreement’’ and ‘‘Hardcopy Form of
Subscriber Agreement’’ and adopt a new
policy. The proposed OPRA Plan
amendment, as modified by
Amendment No. 1, was published for
comment in the Federal Register on July
22, 2008.4 The Commission received no
comment letters in response to the
Notice.
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 SEC 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, LLC, the NASDAQ Stock
Market LLC, the NYSE Arca, Inc., and the
Philadelphia Stock Exchange, Inc.
4 See Securities Exchange Act Release No. 58173
(July 16, 2008), 73 FR 42631 (‘‘Notice’’).
This order approves the proposed
OPRA Plan amendment, as modified by
Amendment No. 1.
II. Description of the Proposal
The proposed Amendment to OPRA’s
Vendor Agreement has several
purposes.
A. Section 5: Definition of
‘‘Nonprofessional’’; Revision of forms of
Subscriber Agreement; and New Policy
OPRA proposes to revise its definition
of the term ‘‘Nonprofessional.’’ 5 OPRA’s
current definition of the term
‘‘Nonprofessional’’ specifies that a
person must be an ‘‘individual’’ in order
to qualify as a Nonprofessional. OPRA
has concluded that this aspect of the
definition should be revised to state that
a ‘‘legal person’’ may qualify as a
Nonprofessional if the legal person is
either an individual (a ‘‘natural person’’)
or a ‘‘qualifying trust.’’ 6
The Addendum for Nonprofessionals
that is attached to OPRA’s form of
Subscriber Agreement currently states
that a person must use OPRA Data
‘‘solely in connection with [the
person’s] individual personal
investment activities’’ in order to
qualify as a Nonprofessional. OPRA has
concluded that this language also
should be revised to clarify that a
natural person may qualify as a
Nonprofessional if the person uses
OPRA Data for the person’s own benefit
and for the benefit of other members of
the person’s immediate family and
qualifying trusts of which the person is
the trustee or custodian, and to include
a parallel statement with respect to
qualifying trusts to the effect that a
qualifying trust may constitute a
Nonprofessional only if the trust uses
OPRA Data only for the benefit of the
trust.7
B. Section 14: Reporting and Record
Keeping Requirements
OPRA also proposes clarifying
changes to four provisions in Section 14
1 15
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2 17
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18:46 Sep 03, 2008
Jkt 214001
5 The definition currently appears in Section 5 of
OPRA’s Vendor Agreement and in OPRA’s
‘‘Electronic Form of Subscriber Agreement’’ and
‘‘Hardcopy Form of Subscriber Agreement.’’ These
two forms are Attachments B–1 and B–2 to OPRA’s
form of Vendor Agreement. OPRA’s form of Vendor
Agreement and its forms of Subscriber Agreements
are available on OPRA’s Web site, https://
www.opradata.com. OPRA is proposing changes to
Section 5 of its form of Vendor Agreement and in
its Electronic Form of Subscriber Agreement and
Hardcopy Form of Subscriber Agreement to
implement the revised definition.
6 The term ‘‘qualifying trust’’ is proposed to be
defined essentially to refer to a trust established for
the benefit of one or more members of the trustee’s
immediate family.
7 OPRA is also proposing to adopt a new policy
entitled ‘‘Policy with Respect to Definition of the
Term ‘Nonprofessional.’ ’’
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Fmt 4703
Sfmt 4703
51651
of the Vendor Agreement, which
describes the reports and record keeping
that OPRA requires of Vendors.
Specifically, the revised language makes
clear that: (1) Pursuant to paragraph
14(a), OPRA requires only summary
information on a monthly basis with
respect to Subscribers that have entered
into Subscriber Agreements with the
Vendor; (2) a Vendor’s reports to OPRA
pursuant to paragraph 14(a) are to be
provided electronically in a form
reasonably satisfactory to OPRA; (3)
whereas reports made pursuant to
paragraph 14(a) may contain summary
information with respect to Subscribers
that have entered into Subscriber
Agreements with the Vendor, reports
made pursuant to paragraph 14(b) must
include all information in the Vendor’s
list of Subscribers described in the first
sentence of paragraph 14(a); (4)
pursuant to 14(c)(3), a Vendor is not
required to retain hardcopy originals of
signed hardcopy Subscriber Agreements
and may instead retain copies, either in
hardcopy form or in electronic form,
provided that copies that are maintained
electronically are maintained in a ‘‘nonrewriteable, non-eraseable format;’’ 8
and (5) a Vendor is required to retain
records with respect to its agreements
with a Subscriber for at least three years
after it discontinues furnishing OPRA
Data to that Subscriber, and requires a
Vendor to retain records with respect to
the actual use of OPRA Data for at least
three years after the records are created.
C. Section 19: Provisions for Modifying
the Vendor Agreement
OPRA is proposing to modify the
language in paragraph 19(a) so that it
clearly states that, if OPRA wishes to
use paragraph 19(a) to implement a
change in the Vendor Agreement after
complying with the applicable
requirements of the Act, OPRA must
furnish written notice of the change to
the Vendor, following which the Vendor
need not ‘‘opt in’’ to the change in order
to maintain its status as a Vendor, but
may ‘‘opt out’’ of the change by
terminating its Vendor Agreement if it is
unwilling to accept the change. The
revised paragraph makes clear that, if a
Vendor timely gives notice of
termination of its Vendor Agreement
following its receipt of notice of a
modification of the Vendor Agreement,
the unmodified Vendor Agreement will
constitute the agreement between the
8 This phrase is used in Rule 17a–4(f)(2)(ii)(A), 17
CFR 240.17a–4(f)(2)(ii)(A). Rule 17a–4(f) describes
the circumstances in which brokers and dealers
may retain certain records in electronic form.
E:\FR\FM\04SEN1.SGM
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51652
Federal Register / Vol. 73, No. 172 / Thursday, September 4, 2008 / Notices
Vendor and OPRA until the effective
date of the Vendor’s termination.9
D. Section 21: ‘‘Assignment’’ Provision
Section 21 of the Vendor Agreement
currently states that the Vendor may not
assign the Vendor Agreement without
the consent of OPRA ‘‘except to a
successor corporation upon merger or
consolidation of Vendor, or to a
corporation acquiring all or
substantially all of the property, assets
and business of Vendor.’’ OPRA is
proposing to modify that language to
accommodate other business entities in
addition to corporations.
III. Discussion
sroberts on PROD1PC77 with NOTICES
After careful review, the Commission
finds that the proposed OPRA Plan
amendment, as modified by
Amendment No. 1, is consistent with
the requirements of the Act and the
rules and regulations thereunder.10
Specifically, the Commission finds that
the proposed OPRA Plan amendment is
consistent with Section 11A of the
Act 11 and Rule 608 thereunder 12 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.
The Commission notes that OPRA’s
proposed changes to the definition of
the term ‘‘Nonprofessional’’ are
designed to add clarity to the definition
and better align the definition language
with Vendors’ and Subscribers’ current
understanding of the term. In addition,
the Commission notes that OPRA’s
proposed changes to Sections 14, 19,
and 21 are designed to add clarity and
specificity to these provisions. The
Commission believes that the proposed
OPRA Plan amendment should help to
assure the availability of information
with respect to quotations and
transactions in listed options and would
thereby further one of the principal
objectives for a national market system
set forth in Section 11A(a)(1)(C)(iii) of
the Act. Therefore, the Commission
believes that OPRA’s proposal is
consistent with Section 11A of the
Act 13 and Rule 608 thereunder.14
9 OPRA also proposes to delete current paragraph
19(b) (modifications relating Electronic Subscriber
Agreement) and paragraph 19(c).
10 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).
11 15 U.S.C. 78k–1.
12 17 CFR 242.608.
13 15 U.S.C. 78k–1.
14 17 CFR 242.608.
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20:04 Sep 03, 2008
Jkt 214001
IV. Conclusion
It is therefore ordered, pursuant to
Section 11A of the Act,15 and Rule 608
thereunder,16 that the proposed OPRA
Plan amendment (SR–OPRA–2008–02),
as modified by Amendment No. 1, be,
and it hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–20469 Filed 9–3–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58425; File No. SR–CBOE–
2008–88]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of a
Proposed Rule Change Relating to the
Demutualization of Chicago Board
Options Exchange, Incorporated
August 26, 2008.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’ or ‘‘Exchange Act’’),1 and Rule
19b–4 thereunder,2 notice is hereby
given that on August 21, 2008, the
Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (the ‘‘Commission’’ or
‘‘SEC’’) the proposed rule change as
described in Items I, II, and III below,
which Items have been prepared by
CBOE. The Commission is publishing
this notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CBOE is filing this proposed rule
change in connection with its plan to
restructure from a Delaware non-stock
corporation to a Delaware stock
corporation that will be a wholly owned
subsidiary of CBOE Holdings, Inc.
(‘‘CBOE Holdings’’), a holding company
organized as a Delaware stock
corporation. As part of this
Restructuring Transaction, a Certificate
of Incorporation and Bylaws will be
adopted for CBOE Holdings.3 In
15 15
U.S.C. 78k–1.
CFR 242.608.
17 17 CFR 200.30–3(a)(29).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 The term ‘‘Restructuring Transaction’’ is defined
in proposed CBOE Rule 1.1(hhh) as ‘‘the
16 17
PO 00000
Frm 00032
Fmt 4703
Sfmt 4703
addition, the Exchange’s Certificate of
Incorporation and Constitution will be
replaced with a new Certificate of
Incorporation and Bylaws as a result of
the Restructuring Transaction. Finally,
the Exchange’s Rules will be amended
to address, among other things, trading
access to the Exchange after the
Restructuring Transaction.4
The text of the proposed Certificate of
Incorporation of CBOE Holdings, the
proposed Bylaws of CBOE Holdings, the
proposed Certificate of Incorporation of
the Exchange, the proposed Bylaws of
the Exchange, the proposed
amendments to the Rules of the
Exchange, the proposed Voting
Agreement between CBOE Holdings and
the Exchange, and the proposed
deletion of the Constitution of the
Exchange is available on CBOE’s Web
site (https://www.cboe.org/Legal), at
CBOE’s Office of the Secretary, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE included statements concerning
the purpose of, and basis for, the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. CBOE 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 the
Statutory Basis for, the Proposed Rule
Change
Purpose
(1) The Restructuring Transaction
CBOE is filing this proposed rule
change in connection with its plan to
restructure from a Delaware non-stock
corporation owned by its members to a
restructuring of the Exchange from a non-stock
corporation to a stock corporation and wholly
owned subsidiary of CBOE Holdings, Inc.’’
4 The substance of the proposed rule change and
its filing under Section 19(b)(2) of the Exchange Act
(15 U.S.C. 78s(b)(2)), and Rule 19b–4 thereunder
(CFR 240.19b–4), have been approved by the Board
of Directors of the Exchange. The Exchange must
obtain, but has not yet obtained, formal approval
from the Board of Directors of the Exchange, as well
as approval from the membership, for the changes
set forth in this proposed rule change. Once it has
obtained those approvals, the Exchange plans to file
a technical amendment to this proposed rule
change to reflect those approvals. Once those
approvals are obtained, no further action by the
Exchange in connection with this proposed rule
change will be required.
E:\FR\FM\04SEN1.SGM
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]]>Agencies
[Federal Register Volume 73, Number 172 (Thursday, September 4, 2008)]
[Notices]
[Pages 51651-51652]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-20469]
[[Page 51651]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58434; File No. SR-OPRA-2008-02]
Options Price Reporting Authority; Order Approving an Amendment,
as Modified by Amendment No. 1 Thereto, to the Plan for Reporting of
Consolidated Options Last Sale Reports and Quotation Information To
Amend OPRA's Vendor Agreement and Related Documents and To Adopt a New
Policy
August 27, 2008.
I. Introduction
On May 30, 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\ On July 1, 2008, OPRA submitted
Amendment No. 1 to the proposed amendment to the OPRA Plan. The
proposed OPRA Plan amendment, as modified by Amendment No. 1, would
modify OPRA's Vendor Agreement in several respects, including revising
OPRA's definition of the term ``Nonprofessional.'' In connection with
the revision of the term ``Nonprofessional,'' the proposed OPRA Plan
amendment would also amend OPRA's ``Electronic Form of Subscriber
Agreement'' and ``Hardcopy Form of Subscriber Agreement'' and adopt a
new policy. The proposed OPRA Plan amendment, as modified by Amendment
No. 1, was published for comment in the Federal Register on July 22,
2008.\4\ The Commission received no comment letters in response to the
Notice.
---------------------------------------------------------------------------
\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 SEC 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, LLC, the NASDAQ Stock Market LLC,
the NYSE Arca, Inc., and the Philadelphia Stock Exchange, Inc.
\4\ See Securities Exchange Act Release No. 58173 (July 16,
2008), 73 FR 42631 (``Notice'').
---------------------------------------------------------------------------
This order approves the proposed OPRA Plan amendment, as modified
by Amendment No. 1.
II. Description of the Proposal
The proposed Amendment to OPRA's Vendor Agreement has several
purposes.
A. Section 5: Definition of ``Nonprofessional''; Revision of forms of
Subscriber Agreement; and New Policy
OPRA proposes to revise its definition of the term
``Nonprofessional.'' \5\ OPRA's current definition of the term
``Nonprofessional'' specifies that a person must be an ``individual''
in order to qualify as a Nonprofessional. OPRA has concluded that this
aspect of the definition should be revised to state that a ``legal
person'' may qualify as a Nonprofessional if the legal person is either
an individual (a ``natural person'') or a ``qualifying trust.'' \6\
---------------------------------------------------------------------------
\5\ The definition currently appears in Section 5 of OPRA's
Vendor Agreement and in OPRA's ``Electronic Form of Subscriber
Agreement'' and ``Hardcopy Form of Subscriber Agreement.'' These two
forms are Attachments B-1 and B-2 to OPRA's form of Vendor
Agreement. OPRA's form of Vendor Agreement and its forms of
Subscriber Agreements are available on OPRA's Web site, https://
www.opradata.com. OPRA is proposing changes to Section 5 of its form
of Vendor Agreement and in its Electronic Form of Subscriber
Agreement and Hardcopy Form of Subscriber Agreement to implement the
revised definition.
\6\ The term ``qualifying trust'' is proposed to be defined
essentially to refer to a trust established for the benefit of one
or more members of the trustee's immediate family.
---------------------------------------------------------------------------
The Addendum for Nonprofessionals that is attached to OPRA's form
of Subscriber Agreement currently states that a person must use OPRA
Data ``solely in connection with [the person's] individual personal
investment activities'' in order to qualify as a Nonprofessional. OPRA
has concluded that this language also should be revised to clarify that
a natural person may qualify as a Nonprofessional if the person uses
OPRA Data for the person's own benefit and for the benefit of other
members of the person's immediate family and qualifying trusts of which
the person is the trustee or custodian, and to include a parallel
statement with respect to qualifying trusts to the effect that a
qualifying trust may constitute a Nonprofessional only if the trust
uses OPRA Data only for the benefit of the trust.\7\
---------------------------------------------------------------------------
\7\ OPRA is also proposing to adopt a new policy entitled
``Policy with Respect to Definition of the Term `Nonprofessional.'
''
---------------------------------------------------------------------------
B. Section 14: Reporting and Record Keeping Requirements
OPRA also proposes clarifying changes to four provisions in Section
14 of the Vendor Agreement, which describes the reports and record
keeping that OPRA requires of Vendors. Specifically, the revised
language makes clear that: (1) Pursuant to paragraph 14(a), OPRA
requires only summary information on a monthly basis with respect to
Subscribers that have entered into Subscriber Agreements with the
Vendor; (2) a Vendor's reports to OPRA pursuant to paragraph 14(a) are
to be provided electronically in a form reasonably satisfactory to
OPRA; (3) whereas reports made pursuant to paragraph 14(a) may contain
summary information with respect to Subscribers that have entered into
Subscriber Agreements with the Vendor, reports made pursuant to
paragraph 14(b) must include all information in the Vendor's list of
Subscribers described in the first sentence of paragraph 14(a); (4)
pursuant to 14(c)(3), a Vendor is not required to retain hardcopy
originals of signed hardcopy Subscriber Agreements and may instead
retain copies, either in hardcopy form or in electronic form, provided
that copies that are maintained electronically are maintained in a
``non-rewriteable, non-eraseable format;'' \8\ and (5) a Vendor is
required to retain records with respect to its agreements with a
Subscriber for at least three years after it discontinues furnishing
OPRA Data to that Subscriber, and requires a Vendor to retain records
with respect to the actual use of OPRA Data for at least three years
after the records are created.
---------------------------------------------------------------------------
\8\ This phrase is used in Rule 17a-4(f)(2)(ii)(A), 17 CFR
240.17a-4(f)(2)(ii)(A). Rule 17a-4(f) describes the circumstances in
which brokers and dealers may retain certain records in electronic
form.
---------------------------------------------------------------------------
C. Section 19: Provisions for Modifying the Vendor Agreement
OPRA is proposing to modify the language in paragraph 19(a) so that
it clearly states that, if OPRA wishes to use paragraph 19(a) to
implement a change in the Vendor Agreement after complying with the
applicable requirements of the Act, OPRA must furnish written notice of
the change to the Vendor, following which the Vendor need not ``opt
in'' to the change in order to maintain its status as a Vendor, but may
``opt out'' of the change by terminating its Vendor Agreement if it is
unwilling to accept the change. The revised paragraph makes clear that,
if a Vendor timely gives notice of termination of its Vendor Agreement
following its receipt of notice of a modification of the Vendor
Agreement, the unmodified Vendor Agreement will constitute the
agreement between the
[[Page 51652]]
Vendor and OPRA until the effective date of the Vendor's
termination.\9\
---------------------------------------------------------------------------
\9\ OPRA also proposes to delete current paragraph 19(b)
(modifications relating Electronic Subscriber Agreement) and
paragraph 19(c).
---------------------------------------------------------------------------
D. Section 21: ``Assignment'' Provision
Section 21 of the Vendor Agreement currently states that the Vendor
may not assign the Vendor Agreement without the consent of OPRA
``except to a successor corporation upon merger or consolidation of
Vendor, or to a corporation acquiring all or substantially all of the
property, assets and business of Vendor.'' OPRA is proposing to modify
that language to accommodate other business entities in addition to
corporations.
III. Discussion
After careful review, the Commission finds that the proposed OPRA
Plan amendment, as modified by Amendment No. 1, is consistent with the
requirements of the Act and the rules and regulations thereunder.\10\
Specifically, the Commission finds that the proposed OPRA Plan
amendment is consistent with Section 11A of the Act \11\ and Rule 608
thereunder \12\ 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.
---------------------------------------------------------------------------
\10\ 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).
\11\ 15 U.S.C. 78k-1.
\12\ 17 CFR 242.608.
---------------------------------------------------------------------------
The Commission notes that OPRA's proposed changes to the definition
of the term ``Nonprofessional'' are designed to add clarity to the
definition and better align the definition language with Vendors' and
Subscribers' current understanding of the term. In addition, the
Commission notes that OPRA's proposed changes to Sections 14, 19, and
21 are designed to add clarity and specificity to these provisions. The
Commission believes that the proposed OPRA Plan amendment should help
to assure the availability of information with respect to quotations
and transactions in listed options and would thereby further one of the
principal objectives for a national market system set forth in Section
11A(a)(1)(C)(iii) of the Act. Therefore, the Commission believes that
OPRA's proposal is consistent with Section 11A of the Act \13\ and Rule
608 thereunder.\14\
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78k-1.
\14\ 17 CFR 242.608.
---------------------------------------------------------------------------
IV. Conclusion
It is therefore ordered, pursuant to Section 11A of the Act,\15\
and Rule 608 thereunder,\16\ that the proposed OPRA Plan amendment (SR-
OPRA-2008-02), as modified by Amendment No. 1, be, and it hereby is,
approved.
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78k-1.
\16\ 17 CFR 242.608.
\17\ 17 CFR 200.30-3(a)(29).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-20469 Filed 9-3-08; 8:45 am]
BILLING CODE 8010-01-P
