SIA Submits Comments to the SEC on the Proposed Rule Change to Revise Option Adjustment Methodology
The Options Committee of the Securities Industry Association (SIA)*provides commentsto the Securities and Exchange Commission (SEC)on aproposed rule changeby the self-regulatory organizations (SROs) and the Options Clearing Corporation to revise option adjustment methodology, File No. SR-OCC-2006-01. The proposal would improve the methodology for adjusting options to account for extraordinary dividends. SIA offers its observations and recommendations on the proposal including a request for the Options Clearing Corporation provide at least six months for implementation over the four to five months currently suggested by the Corporation.
*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.