SIFMA provides comments to the Securities and Exchange Commission (SEC) on on NASDAQ OMX PHLX LLC (Phlx) Rulemaking in response to the…
Options Market Structure: Proliferation of Listed-Options Series Available for Quoting and Trading
Mr. Brett Redfearn
Director, Division of Trading & Markets
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549-1090
Re: Options Market Structure: Proliferation of Listed-Options Series Available for
Quoting and Trading (“Strikes”, or “Strike listings”)
Dear Mr. Redfearn:
The Listed Options Trading Committee of SIFMA1 submits this letter to propose working collectively with the Securities and Exchange Commission (“SEC”), The Options Clearing Corp. (“OCC”) and the U.S. Options Exchanges to create a uniform set of strikes listing rules.
Today, the U.S. Options Exchanges 2 and OCC are sponsors of the Options Listing Procedures Plan (“OLPP”), a national market system plan that was filed with the SEC in 2001, which describes procedures to be followed by the parties in connection with selecting specified underlying interests for listing purposes and requesting a review of such selections. Additionally, it describes procedures for selecting options series, determining operational procedures relative to adjustment decisions, and admitting and removing plan sponsors.