FOR IMMEDIATE RELEASE                                  2000-179
                                

     SEC Amends OPRA Plan To Allocate OPRA Systems Capacity
         Among Options Markets During Peak Usage Periods

     Washington, DC, November 28, 2000 -- The Securities and
Exchange Commission yesterday issued an order that amends The
Options Price Reporting Authority (OPRA) Plan for Reporting of
Consolidated Options Last Sale Reports and Quotation Information
(OPRA Plan) by allocating OPRA systems capacity during peak usage
periods pursuant to a formula.
     
     Over the past year, the quotation data generated by the
options exchanges have, at times, exceeded the limits of OPRA's
systems capacity.  The options exchanges have implemented
temporary amendments to the OPRA Plan, which the Commission has
approved, to allocate existing capacity during peak periods.  To
date, however, the options exchanges have been unable to agree on
quote mitigation strategies or an objective formula by which
capacity can be allocated during peak usage periods.  The
formula, adopted by the Commission yesterday, is intended to
encourage the efficient use of this scarce resource and will be
applied only in the short term, until the options exchanges have
resolved the continuing capacity concerns.

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