Options Clearing Corporation – s. 144
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, CHAPTER S.5, AS AMENDED
(the Act)
AND
IN THE MATTER OF
THE OPTIONS CLEARING CORPORATION
(OCC)
VARIATION TO THE INTERIM ORDER
(Section 144 of the Act)
WHEREAS the Ontario Securities Commission (Commission) issued an interim order dated March 1, 2011 pursuant to section 147 of the Act exempting OCC from the requirement to be recognized as a clearing agency under section 21.2(0.1) of the Act (Interim Order);
AND WHEREAS the Commission issued an order varying and restating the Interim Order dated August 19, 2011 (Restated Interim Order);
AND WHEREAS the Restated Interim Order will terminate on the earlier of (i) September 1, 2012 and (ii) the effective date of a subsequent order recognizing OCC as a clearing agency under subsection 21.2(0.1) of the Act or exempting it from the requirement to be recognized as a clearing agency under section 147 of the Act;
AND WHEREAS OCC has filed an application received on August 3, 2012 (Application) with the Commission pursuant to section 147 of the Act requesting that the Commission exempt OCC from the requirement to be recognized as a clearing agency under section 147 of the Act (Subsequent Order) and to vary the Restated Interim Order pursuant to section 144 of the Act to allow the Commission an opportunity to review the Application and determine whether to issue the Subsequent Order;
AND WHEREAS the Commission has received certain representations from OCC in connection with the Application;
AND WHEREAS the Commission has determined that it is not prejudicial to the public interest to vary the Restated Interim Order to extend OCC's interim exemption from the requirement to be recognized as a clearing agency pursuant to section 21.2(0.1) of the Act;
IT IS ORDERED, pursuant to section 144 of the Act, that the Restated Interim Order be varied by replacing the reference to "September 1, 2012" with a reference to "November 30, 2012."
DATED at Toronto this 14th day of August, 2012.