[Federal Register Volume 60, Number 9 (Friday, January 13, 1995)]
[Notices]
[Pages 3286-3287]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-913]



=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-35198; File No. 600-24]


Self-Regulatory Organizations; Delta Government Options Corp.; 
Notice of Filing and Order Approving Application for Extension of 
Temporary Registration as a Clearing Agency

January 6, 1995.
    On December 28, 1994, Delta Government Options Corporation 
(``Delta'') filed with the Securities and Exchange Commission 
(``Commission'') a request pursuant to Section 19(a)\1\ of the 
Securities Exchange Act of 1934 (``Act'') for extension of its 
registration as a clearing agency under Section 17A\2\ of the Act for a 
period of two years.\3\ The Commission is publishing this notice and 
order to solicit comments from interested persons and to grant Delta's 
request for an extension of its temporary registration as a clearing 
agency through January 31, 1997.

    \1\15 U.S.C. 78s(a)(1) (1988).
    \2\15 U.S.C. 78q-1 (1988).
    \3\Letter from Kathryn V. Natale, Morgan, Lewis & Bockius, to 
Jerry W. Carpenter, Assistant Director, Division of Market 
Regulation, Commission (December 28, 1994).
---------------------------------------------------------------------------

    On January 12, 1990, the Commission granted Delta's application for 
registration as a clearing agency pursuant to Sections 17A(b)(2) and 
19(a) of the Act\4\ on a temporary basis for a period of thirty-six 
months.\5\ On February 11, 1993, the Commission approved Delta's 
request for an extension of its temporary registration as a clearing 
agency through January 12, 1995.\6\ Delta now requests that the 
Commission grant an extension of its original order granting Delta 
temporary registration as a clearing agency subject to the same terms 
and conditions for a period of two years.

    \4\15 U.S.C. 78q-1(b)(2) and 78s(a) (1988).
    \5\Securities Exchange Act Release No. 27611 (January 12, 1990), 
55 FR 1890 [File No. 600-24].
    \6\Securities Exchange Act Release No. 31856 (February 11, 
1993), 59 FR 9005 [File No. 600-24].
---------------------------------------------------------------------------

    As discussed in detail in the order granting Delta's initial 
temporary registration as a clearing agency,\7\ one of the primary 
reasons for Delta's registration is to enable it to provide for the 
safe and efficient clearance and settlement of transactions involving 
the over-the-counter (``OTC'') trading of options on U.S. Treasury 
securities. Delta has functioned effectively in this capacity as a 
registered clearing agency for the past five years. In light of Delta's 
past performance, the Commission believes that Delta has the capacity 
to comply with the statutory obligations set forth under Section 
17A(b)(3) of the Act\8\ as the prerequisites for registration as a 
clearing agency. Comments received during Delta's temporary 
registration will be considered in determining whether Delta should 
receive permanent registration as a clearing agency under Section 
17A(b) of the Act.\9\

    \7\Supra note 5.
    \8\15 U.S.C. 78q-1(b)(3) (1988).
    \9\15 U.S.C. 78q-1(b) (1988).
---------------------------------------------------------------------------

Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street NW., Washington, D.C. 20549. 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the request for extension of temporary 
registration as a clearing agency that are filed with the Commission, 
and all written communications relating to the requested extension 
between the Commission and any person, other than those that may be 
withheld from the public in accordance with provisions of 5 U.S.C. 
Sec. 552, will be available for inspection and copying in the 
Commission's Public Reference Section, 450 Fifth Street NW., 
Washington, D.C. 20549. Copies of such filing will also be available 
for inspection and copying at the principal office of Delta. All 
submissions should refer to File No. 600-24 and should be submitted by 
February 3, 1995.

Conclusion

    On the basis of the foregoing, the Commission finds that Delta's 
request for extension of temporary registration [[Page 3287]] as a 
clearing agency is consistent with the Act and in particular with 
Section 17A of the Act.
    It is Therefore Ordered, that Delta's temporary registration as a 
clearing agency (File No. 600-24) be, and hereby is, extended through 
January 31, 1997.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\10\

    \10\17 CFR 200.30-3(a)(50)(i) (1994).
---------------------------------------------------------------------------

Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 95-913 Filed 1-12-95; 9:45 am]
BILLING CODE 8010-01-M