Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices 3765 

1Form X–17A–5 (17 CFR 249.617). 

2Based upon an average of 4 responses per year 

and an average of 20 hours spent preparing each 

response. 

1 15 U.S.C. 78k–1. 

2 17 CFR 242.608. 

3The 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 seven participants to the OPRA 

Plan are NASDAQW OMX BX, Inc., Chicago Board 

Options Exchange, Incorporated, International 

Securities Exchange, LLC, NASDAQ OMX PHLX, 

Inc., NASDAQ Stock Market LLC, NYSE Amex, 

Inc., and NYSE Arca, Inc. 

Percent 

Non-Profit Organizations With 

Credit Available Elsewhere ... 3.625 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000 

For Economic Injury: 

Businesses & Small Agricultural 

Cooperatives Without Credit 

Available Elsewhere .............. 4.000 

Non-Profit Organizations Without Credit Available Elsewhere ..................................... 3.000 

The number assigned to this disaster 

for physical damage is 12015 6 and for 

economic injury is 12016 0. 

The State which received an EIDL 

Declaration # is Louisiana. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

Dated: January 14, 2010. 

Karen G. Mills, 

Administrator. 

[FR Doc. 2010–1203 Filed 1–21–10; 8:45 am] 

BILLING CODE 8025–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: US Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Rule 17a–12; SEC File No. 270–442; OMB 

Control No. 3235–0498. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided in Rule 17a–12 (17 CFR 

240.17a–12) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) (‘‘Exchange Act’’). 

Rule 17a–12 under the Exchange Act 

is the reporting rule tailored specifically 

for OTC derivatives dealers registered 

with the Commission, and Part IIB of 

Form X–17A–5,1 the Financial and 

Operational Combined Uniform Single 

(‘‘FOCUS’’) Report, is the basic 

document for reporting the financial 

and operational condition of OTC 

derivatives dealers. 

Rule 17a–12 requires registered OTC 

derivatives dealers to file Part IIB of the 

FOCUS Report quarterly. Rule 17a–12 

also requires that OTC derivatives 

dealers file audited financial statements 

annually. There are currently four 

registered OTC derivatives dealers. The 

staff expects that one additional firm, 

with an application pending, will 

register as an OTC derivatives dealer 

within the next three years. The staff 

estimates that the average amount of 

time necessary to prepare and file the 

quarterly reports required by the rule is 

eighty hours per OTC derivatives 

dealer 2 and that the average amount of 

time for the annual audit report is 100 

hours per OTC derivatives dealer, for a 

total of 180 hours per OTC derivatives 

dealer annually. Thus the staff estimates 

that the total number of hours necessary 

for the four current OTC derivatives 

dealers plus the additional OTC 

derivative dealer to comply with the 

requirements of Rule 17a–12 on an 

annual basis is 900 hours. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the proposed collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

Comments should be directed to 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, C/O Shirley 

Martinson, 6432 General Green Way, 

Alexandria, Virginia 22312 or send an 

e-mail to: PRA_Mailbox@sec.gov. 

Dated: January 15, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–1147 Filed 1–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61367; File No. SR–OPRA– 

2009–01] 

Options Price Reporting Authority; 

Notice of Filing and Immediate 

Effectiveness of Proposed Amendment 

To Revise the Plan for Reporting of 

Consolidated Options Last Sale 

Reports and Quotation Information To 

Serve as the Operating Agreement for 

OPRA LLC 

January 15, 2010. 

Pursuant to Section 11A of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 608 thereunder,2

notice is hereby given that on December 

28, 2009, 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 revise 

the OPRA Plan for the sole purpose of 

enabling it to serve as the Limited 

Liability Company Agreement of OPRA 

LLC. The Commission is publishing this 

notice to solicit comments from 

interested persons on the proposed 

OPRA Plan amendment. 

I. Description and Purpose of the Plan 

Amendment 

OPRA proposes to change its structure 

from a committee of national securities 

exchanges acting jointly pursuant to the 

OPRA Plan to a limited liability 

company organized under the Delaware 

Limited Liability Company Act of which 

its participating national securities 

exchanges will be members. The 

restructured OPRA will be known as 

Options Price Reporting Authority, LLC 

(‘‘OPRA LLC’’). To facilitate the 

restructuring of OPRA, the OPRA Plan 

is proposed to be revised for the sole 

purpose of enabling it to serve as the 

Limited Liability Company Agreement 


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3766 Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices 

4 17 CFR 242.608(b)(3)(ii). 

5 17 CFR 242.608(b)(2). 

(sometimes referred to as the ‘‘Operating 

Agreement’’) of OPRA LLC. The OPRA 

Plan as proposed to be revised was 

attached as Exhibit A to the filing. 

The purpose of the amendment to the 

OPRA Plan is to permit the Plan to serve 

as the Operating Agreement for OPRA 

LLC, which is the entity that is 

proposed to succeed to OPRA in its 

current structure. In 1975, when OPRA 

was first established as a registered 

securities information processor (‘‘SIP’’), 

unlike other SIPs in existence at that 

time, OPRA was not organized as an 

association pursuant to Articles of 

Association or as any other form of 

organization. Instead, OPRA simply 

served as the name used to describe a 

committee of registered national 

securities exchanges acting jointly in 

accordance with a national market 

system plan to provide consolidated last 

sale reports and quotation information 

in accordance with Commission rules 

and policies that were the predecessors 

of what is now contained in Rules 601 

and 602 under Regulation NMS. This 

structure has served OPRA well over the 

years. However, OPRA has recently 

been advised that the very lack of a clear 

identity for OPRA as an entity could 

give rise to uncertainty as to the nexus 

between OPRA or its constituent 

exchanges and various states for 

purpose of the application of certain 

state tax laws to OPRA’s activities. 

OPRA has been told that in order to 

resolve this uncertainty OPRA should 

restructure itself so it clearly is an entity 

separate and apart from its constituent 

exchanges, and that the best way to do 

this is for OPRA to become a limited 

liability company organized under the 

Delaware Limited Liability Company 

Act (‘‘Delaware Act’’). 

In order to accomplish this, it is 

necessary for the OPRA Plan to be 

amended to incorporate various 

provisions that will enable it to serve as 

the Operating Agreement of a limited 

liability company under the Delaware 

Act. This is reflected in the amendment 

to the OPRA Plan filed herewith. In 

preparing this amendment, care was 

taken to limit revisions to the current 

OPRA Plan only to those that are 

necessary to accommodate its structure 

as an LLC (much of which consists of 

new language added for federal and 

state income tax purposes), and not to 

change any of the provisions of the Plan 

that govern the way in which OPRA 

performs its activities as a registered 

SIP. Thus although the governance 

structure of OPRA needs to be described 

in terms that apply to an LLC under the 

Delaware Act, the essence of its 

governance remains unchanged, so that 

OPRA will continue to be governed by 

its constituent exchanges, each of which 

has one vote on matters that come 

before them, subject to Commission 

filing and approval requirements under 

the Exchange Act. Likewise, OPRA’s 

financial structure, including the fees it 

charges and how it allocates fees and 

expenses among the exchanges, is not 

changed by this amendment. The 

various forms of agreements that OPRA 

enters into with vendors, subscribers 

and others who access the market data 

it provides will be changed only as 

necessary to reflect the change in 

OPRA’s structure. OPRA’s procedures 

for the admission of new exchanges to 

membership in OPRA, the way in which 

OPRA conducts its capacity planning 

activities with the assistance of an 

independent system capacity advisor 

and all other operational aspects of 

OPRA’s activities will also not be 

changed. 

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 http:// 

www.sec.gov. 

II. Implementation of the OPRA Plan 

Amendment 

Pursuant to paragraph (b)(3)(ii) of 

Rule 608 under the Act,4 OPRA 

designated this amendment as one 

concerned solely with the 

administration of the Plan, or involving 

the governing or constituent documents 

relating to any person authorized to 

implement or administer the Plan on 

behalf of its sponsors. Accordingly, 

OPRA intends to put the Plan 

amendment into effect upon filing it 

with the Commission, having previously 

filed the necessary documents with the 

State of Delaware to cause OPRA to be 

restructured as an LLC, concurrently 

herewith amending its Form SIP on file 

with the Commission to reflect the 

change in OPRA’s structure, and taking 

such other steps as are necessary to 

assure that OPRA LLC is able to succeed 

to the rights and obligations of OPRA 

under the various contracts OPRA has 

entered into with vendors, subscribers, 

other users of its market data, its 

processor and others who perform 

administrative functions on behalf of 

OPRA, and its independent system 

capacity advisor. 

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 5 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. 

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 e-mail to rulecomments@sec.gov. Please include File 

No. SR–OPRA–2009–01 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–2009–01. This file 

number should be included on the 

subject line if e-mail 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 inspection and copying in 

the Commission’s Public Reference 

Room, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 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 


erowe on DSK5CLS3C1PROD with NOTICES
Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices 3767 

6 17 CFR 200.30–3(a)(29). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 59229 

(January 12, 2009) 74 FR 3119 (January 16, 2009) 

(SR–NYSE–2009–01). 

5See Securities Exchange Act Release No. 59491 

(March 3, 2009) 74 FR 10107 (March 9, 2009) (SR– 

NYSE–2009–20); see Securities Exchange Act 

Release No. 59864 (May 5, 2009) 74 FR 22194 (May 

12, 2009) (SR–NYSE–2009–44); see Securities 

Exchange Act Release No. 60278 (July 10, 2009) 74 

FR 34615 (July 16, 2009) (SR–NYSE–2009–67); see 

Securities Exchange Act Release No. 60439 (August 

5, 2009) 74 FR 40270 (August 11, 2009) (SR–NYSE– 

2009–78) and see also Securities Exchange Act 

Release No. 60949 (November 6, 2009) 74 FR 58665 

(November 13, 2009) (SR–NYSE–2009–110). 

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(2). 

8Executions in the MatchPoint system occur 

when buy and sell interest in a security is entered 

on a matched basis (both buy and sell sides 

submitted together) or when interest submitted in 

the system by one user matches against contra side 

interest submitted by another user. 

9 15 U.S.C. 78a. 

Number SR–OPRA–2009–01 and should 

be submitted on or before February 12, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–1146 Filed 1–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61350; File No. SR–NYSE– 

2010–01] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Waiving All 

Transaction Fees for Shares Executed 

on the NYSE MatchPointSM System 

Until January 29, 2010 

January 14, 2010. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on January 

7, 2010, New York Stock Exchange LLC 

(‘‘NYSE’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory organization. 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 

The Exchange proposes to waive all 

transaction fees for shares executed on 

the NYSE MatchPointSM (‘‘NYSE 

MatchPoint’’ or ‘‘MatchPoint’’) system, 

effective upon filing this rule change 

with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

until January 29, 2010. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and http:// 

www.nyse.com. 

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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

NYSE’s 2010 Price List by waiving all 

transaction fees for shares executed on 

the NYSE MatchPoint system, which 

will be effective upon filing this rule 

change with the Commission until 

January 29, 2010. The Exchange is also 

eliminating the current temporary 

equity transaction fee for shares 

executed on MatchPoint, which has 

been in effect since January 2009. 

Background 

On January 7, 2009, the Exchange 

filed with the Securities and Exchange 

Commission a proposed rule change to 

adopt a temporary equity transaction fee 

for shares executed on the NYSE 

MatchPoint system, effective until 

February 28, 2009.4 This temporary 

equity transaction fee has been extended 

numerous times since the original filing 

and is currently in effect until January 

31, 2010.5 Each such filing was effective 

upon filing pursuant to Section 

19(b)(3)(A) 6 of the Act and 

subparagraph (f)(2) of Rule 19b–4.7

The current temporary equity 

transaction fee is a scaled fee for 

MatchPoint users based on the average 

daily volume of shares executed during 

a calendar month through the 

MatchPoint system as follows: 

Average daily volume of 

shares executed 

Rate 

(per share) 

50,000 shares or less ........... $.0015 

Average daily volume of 

shares executed 

Rate 

(per share) 

Over 50,000 to 499,999 ....... .0010 

500,000 and greater ............. .0005 

The Exchange believes that a temporary 

waiver of the current transaction fees for 

all executions will induce users to enter 

more single-sided volume 8 into the 

MatchPoint system, which benefits all 

participants in MatchPoint, since it 

increases the likelihood of a match 

during the matching sessions (i.e., intraday and after hours matching sessions). 

This waiver of transaction fees will 

apply to all Exchange members that 

access MatchPoint. 

It is intended that new MatchPoint 

transaction fees will be in effect on 

February 1, 2010, after the proposed fee 

waiver terminates. The new transaction 

fees will also provide incentives for 

adding volume to the MatchPoint 

system. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Act’’) 9 for 

the proposed rule change is the 

requirement under Section 6(b)(4) that 

an exchange have rules that provide for 

the equitable allocation of reasonable 

dues, fees and other charges among its 

members and other persons using its 

facilities. The Exchange believes the fee 

waiver for all MatchPoint executions is 

reasonable in that it provides a 

significant incentive for users to add 

volume into the MatchPoint system. The 

fee waiver will be in effect upon filing 

the rule change with the Commission 

until January 29, 2010. Adding volume 

to the MatchPoint system will increase 

a user’s likelihood of obtaining an 

execution. Increased volume and 

trading activity will improve the overall 

market for customers. The proposed 

transaction fee waiver is also designed 

to make the system more competitive, 

which will further improve the quality 

of the market and benefit customers. 

Finally, the transaction fee waiver is 

equitable because it is available to all 

Exchange members that access the 

MatchPoint system, and it applies to all 

MatchPoint executions. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 


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