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