Options Price Reporting Authority; Order Approving an Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Amend Section 3.5 of the OPRA Plan, 25770-25771 [2013-10351]

Download as PDF 25770 Federal Register / Vol. 78, No. 85 / Thursday, May 2, 2013 / Notices sroberts on DSK5SPTVN1PROD with NOTICES Thursday, May 9, 2013, Conference Room T2–B1, 11545 Rockville Pike, Rockville, Maryland 1:00 p.m.–1:05 p.m.: Opening Remarks by the ACRS Chairman (Open)—The ACRS Chairman will make opening remarks regarding the conduct of the meeting. 1:05 p.m.–3:00 p.m.: Next Generation Nuclear Plant (NGNP) Key Licensing Issues (Open)—The Committee will hear presentations by and hold discussions with representatives of the NRC staff regarding key licensing issues pertaining to the NGNP project. 3:15 p.m.–4:45 p.m.: Generic Issue (GI)-189, ‘‘Susceptibility of Ice Condenser and Mark III Containments to Early Failure from Hydrogen Combustion during a Severe Accident’’ (Open)—The Committee will hear presentations by and hold discussions with representatives of the NRC staff regarding the closure of GI–189, ‘‘Susceptibility of Ice Condenser and Mark III Containments to Early Failure from Hydrogen Combustion during a Severe Accident.’’ 4:45 p.m.–7:00 p.m.: Preparation of ACRS Reports (Open)—The Committee will discuss proposed ACRS reports on matters discussed during this meeting. 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Procedures for the conduct of and participation in ACRS meetings were published in the Federal Register on October 18, 2012, (76 FR 64146–64147). In accordance with those procedures, oral or written views may be presented by members of the public, including representatives of the nuclear industry. Persons desiring to make oral statements should notify Antonio Dias, Cognizant ACRS Staff (Telephone: 301–415–6805, Email: Antonio.Dias@nrc.gov), five days before the meeting, if possible, so that appropriate arrangements can be made to allow necessary time during the meeting for such statements. In view of the possibility that the schedule for ACRS meetings may be adjusted by the Chairman as necessary to facilitate the conduct of the meeting, persons planning to attend should check with the Cognizant ACRS staff if such rescheduling would result in major inconvenience. Thirty-five hard copies of each presentation or handout should be provided 30 minutes before the meeting. In addition, one electronic copy of each presentation should be emailed to the Cognizant ACRS Staff one day before meeting. If an electronic copy cannot be provided within this timeframe, presenters should provide the Cognizant ACRS Staff with a CD containing each presentation at least 30 minutes before the meeting. In accordance with Subsection 10(d) Public Law 92–463, and 5 U.S.C. 552b(c), certain portions of this meeting may be closed, as specifically noted above. Use of still, motion picture, and television cameras during the meeting may be limited to selected portions of the meeting as determined by the Chairman. Electronic recordings will be permitted only during the open portions of the meeting. ACRS meeting agenda, meeting transcripts, and letter reports are available through the NRC Public Document Room at PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 pdr.resource@nrc.gov, or by calling the PDR at 1–800–397–4209, or from the Publicly Available Records System (PARS) component of NRC’s document system (ADAMS) which is accessible from the NRC Web site at https:// www.nrc.gov/reading-rm/adams.html or https://www.nrc.gov/reading-rm/doccollections/ACRS/. Video teleconferencing service is available for observing open sessions of ACRS meetings. Those wishing to use this service should contact Mr. Theron Brown, ACRS Audio Visual Technician (301–415–8066), between 7:30 a.m. and 3:45 p.m. (ET), at least 10 days before the meeting to ensure the availability of this service. Individuals or organizations requesting this service will be responsible for telephone line charges and for providing the equipment and facilities that they use to establish the video teleconferencing link. The availability of video teleconferencing services is not guaranteed. Dated: April 26, 2013. Andrew L. Bates, Advisory Committee Management Officer. [FR Doc. 2013–10431 Filed 5–1–13; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69453; File No. SR–OPRA– 2012–07] Options Price Reporting Authority; Order Approving an Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Amend Section 3.5 of the OPRA Plan April 25, 2013. I. Introduction On December 21, 2012, 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 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 SE.C. Docket 484 (March 31, 1981). The full text of the OPRA Plan is available at https://www.opradata.com. 2 17 E:\FR\FM\02MYN1.SGM 02MYN1 Federal Register / Vol. 78, No. 85 / Thursday, May 2, 2013 / Notices amendment would revise a provision that describes certain circumstances in which a national securities exchange must cease to be a Member of OPRA. The proposed OPRA Plan amendment was published for comment in the Federal Register on January 22, 2013.4 The Commission received no comment letters in response to the Notice. This order approves the proposed OPRA Plan amendment. II. Description of the Proposal The purpose of the proposed OPRA Plan amendment is to revise certain language contained in Section 3.5 of the OPRA Plan. Section 3.5 currently provides, in part, as follows: ‘‘The membership status [in OPRA] of a Member shall terminate effective as of . . . the last day of the calendar quarter in which the Member has ceased maintaining a market for the trading of securities option contracts.’’ 5 Under the current language, a Member that ceases to maintain a market for the trading of securities option contracts late in a calendar quarter would have little or no time in which to resume maintaining such a market if it wanted to remain a Member of OPRA. OPRA proposes to amend Section 3.5 so that a national securities exchange that ceases to maintain a market for the trading of options may remain a Member of OPRA for an additional calendar quarter after the quarter in which it stops maintaining a market in options. the proposed OPRA Plan amendment is consistent with Section 11A of the Act 7 and Rule 608 thereunder 8 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 proposed change to Section 3.5 of the OPRA Plan is designed to allow additional time within which an existing OPRA Member may maintain its membership in OPRA if the Member stops maintaining a market in securities. Specifically, the amendment would provide an exchange that temporarily ceases to maintain a market for the trading of options with additional flexibility with respect to the date by which it must resume maintaining a market for the trading of options or lose its membership status in OPRA. The Commission believes that OPRA’s proposal is consistent with Section 11A of the Act 9 and Rule 608 thereunder.10 (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. IV. Conclusion II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. It is therefore ordered, pursuant to Section 11A of the Act,11 and Rule 608 thereunder,12 that the proposed OPRA Plan amendment (SR–OPRA–2012–07) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Kevin M. O’Neill, Deputy Secretary. sroberts on DSK5SPTVN1PROD with NOTICES 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.6 Specifically, the Commission finds that [FR Doc. 2013–10351 Filed 5–1–13; 8:45 am] 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 eleven 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, Miami International Securities Exchange, LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC, NASDAQ Stock Market LLC, NYSE MKT LLC, and NYSE Arca, Inc. 4 See Securities Exchange Act Release No. 68655 (January 15, 2013), 78 FR 4505 (‘‘Notice’’). 5 OPRA is organized as a limited liability company, and the OPRA Plan is the Limited Liability Company Agreement of OPRA. The OPRA Plan therefore uses the vocabulary typically used in Limited Liability Company Agreements, and therefore refers to the national security exchanges that are participants in OPRA as ‘‘Members,’’ and to their participation in OPRA as ‘‘membership.’’ 6 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). Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Strategy Fee Caps VerDate Mar<15>2010 16:50 May 01, 2013 Jkt 229001 25771 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69465; File No. SR–Phlx– 2013–40] April 26, 2013. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1, and Rule 19b–4 2 thereunder, notice is hereby given that on April 17, 2013, NASDAQ OMX PHLX LLC 7 15 U.S.C. 78k–1. CFR 242.608. 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 17 CFR 200.30–3(a)(29). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 8 17 PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Strategy Fee Caps. While changes to the Pricing Schedule pursuant to this proposal are effective upon filing, the Exchange has designated the proposed amendment to be operative on April 18, 2013. The text of the proposed rule change is available on the Exchange’s Web site at https:// nasdaqomxphlx.cchwallstreet.com/, at the principal office of the Exchange, and at the Commission’s Public Reference Room. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this filing is to amend the Strategy Fee Caps which are currently located in Section II, entitled ‘‘Multiply Listed Options.’’ 3 Today, the Exchange caps certain dividend, merger, short stock interest and reversal and conversion floor option transactions. The Exchange is proposing to reformat the manner in which the caps are presented by first defining each strategy and then creating a table to display the caps. The Exchange also proposes to also amend the reversal and conversion cap. First, the Exchange proposes to relocate the definitions of the various 3 This includes options overlying equities, ETFs, ETNs and indexes which are Multiply Listed. E:\FR\FM\02MYN1.SGM 02MYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 78, Number 85 (Thursday, May 2, 2013)]
[Notices]
[Pages 25770-25771]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-10351]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69453; File No. SR-OPRA-2012-07]


Options Price Reporting Authority; Order Approving an Amendment 
to the Plan for Reporting of Consolidated Options Last Sale Reports and 
Quotation Information To Amend Section 3.5 of the OPRA Plan

April 25, 2013.

I. Introduction

    On December 21, 2012, 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

[[Page 25771]]

amendment would revise a provision that describes certain circumstances 
in which a national securities exchange must cease to be a Member of 
OPRA. The proposed OPRA Plan amendment was published for comment in the 
Federal Register on January 22, 2013.\4\ The Commission received no 
comment letters in response to the Notice.
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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 SE.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 eleven 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, Miami International 
Securities Exchange, LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC, 
NASDAQ Stock Market LLC, NYSE MKT LLC, and NYSE Arca, Inc.
    \4\ See Securities Exchange Act Release No. 68655 (January 15, 
2013), 78 FR 4505 (``Notice'').
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    This order approves the proposed OPRA Plan amendment.

II. Description of the Proposal

    The purpose of the proposed OPRA Plan amendment is to revise 
certain language contained in Section 3.5 of the OPRA Plan. Section 3.5 
currently provides, in part, as follows: ``The membership status [in 
OPRA] of a Member shall terminate effective as of . . . the last day of 
the calendar quarter in which the Member has ceased maintaining a 
market for the trading of securities option contracts.'' \5\ Under the 
current language, a Member that ceases to maintain a market for the 
trading of securities option contracts late in a calendar quarter would 
have little or no time in which to resume maintaining such a market if 
it wanted to remain a Member of OPRA.
---------------------------------------------------------------------------

    \5\ OPRA is organized as a limited liability company, and the 
OPRA Plan is the Limited Liability Company Agreement of OPRA. The 
OPRA Plan therefore uses the vocabulary typically used in Limited 
Liability Company Agreements, and therefore refers to the national 
security exchanges that are participants in OPRA as ``Members,'' and 
to their participation in OPRA as ``membership.''
---------------------------------------------------------------------------

    OPRA proposes to amend Section 3.5 so that a national securities 
exchange that ceases to maintain a market for the trading of options 
may remain a Member of OPRA for an additional calendar quarter after 
the quarter in which it stops maintaining a market in options.

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.\6\ Specifically, the Commission finds 
that the proposed OPRA Plan amendment is consistent with Section 11A of 
the Act \7\ and Rule 608 thereunder \8\ 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 proposed 
change to Section 3.5 of the OPRA Plan is designed to allow additional 
time within which an existing OPRA Member may maintain its membership 
in OPRA if the Member stops maintaining a market in securities. 
Specifically, the amendment would provide an exchange that temporarily 
ceases to maintain a market for the trading of options with additional 
flexibility with respect to the date by which it must resume 
maintaining a market for the trading of options or lose its membership 
status in OPRA. The Commission believes that OPRA's proposal is 
consistent with Section 11A of the Act \9\ and Rule 608 thereunder.\10\
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    \6\ 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).
    \7\ 15 U.S.C. 78k-1.
    \8\ 17 CFR 242.608.
    \9\ 15 U.S.C. 78k-1.
    \10\ 17 CFR 242.608.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 11A of the Act,\11\ 
and Rule 608 thereunder,\12\ that the proposed OPRA Plan amendment (SR-
OPRA-2012-07) be, and it hereby is, approved.
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    \11\ 15 U.S.C. 78k-1.
    \12\ 17 CFR 242.608.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(29).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-10351 Filed 5-1-13; 8:45 am]
BILLING CODE 8011-01-P

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