OPRA System definition

OPRA System or “System” means all data processing equipment, communications facilities and other facilities utilized by OPRA or any data processing service organizations acting on its behalf in connection with the processing, consolidating and distribution of options Last Sale Reports and Quotation Information and related information pursuant to this Agreement.
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OPRA System or “System” means all data processing equipment, communications facilities and other facilities utilized by the parties or any data processing service organizations acting on their behalf in connection with the processing, consolidating and distribution of options Last Sale Reports and Quotation Information and related information pursuant to the Plan.
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Examples of OPRA System in a sentence

  • Each of the Members shall collect and promptly transmit to the OPRA System by means of its own facilities all Last Sale Reports relating to its respective market.

  • No person shall be entitled to receive consolidated Last Sale Reports or consolidated Quotation Information directly from the OPRA System unless at the time of receipt thereof such person has entered into an appropriate agreement with OPRA, in the form approved by OPRA, providing for such direct access, and is in full compliance therewith.

  • As provided in Section 5.2(c), upon the availability of a BBO through the OPRA System, OPRA may contract separately for Last Sale Reports combined with the BBO, or it may offer Last Sale Reports, Quotation Information and the BBO together in a single contract.

  • The regular hours of operation of the OPRA System shall be from 7:30 A.M. to 6:00 P.M. Eastern Time on any regular trading day of trading of two or more Members.

  • The ISCA shall communicate its conclusions in writing to OPRA, which, to the extent and subject to the conditions set forth in the Capacity Guidelines, shall be obligated to authorize and fund the modification of the OPRA System in accordance with the ISCA’s determinations.

  • From and after the effective date of termination of a Member’s membership status, the terminated Member shall cease to have the right to have its Last Sale Reports or Quotation information or other information disseminated over the OPRA System, and profits and losses of the Company shall cease to be allocated to the Capital Account of the Member in accordance with Article VII below.

  • Accordingly, if Vendor includes in a Service Last Sale Reports or Quotation Information from any Participant’s market in respect of a series of Eligible Securities, Vendor must also include in that same Service comparable information in respect of that same series from every other Participant’s market whose information is carried over the OPRA System.

  • Except for situations in which the approval of the Members is required by this Agreement or by applicable law, OPRA and the OPRA System shall be managed by the Management Committee, which shall be constituted as provided in Section 4.2. Unless otherwise expressly provided to the contrary in this Agreement, no Member shall have authority to act for, or to assume any obligation or responsibility on behalf of, OPRA, without the prior approval of the Management Committee.

  • Each of the Members, during the time that it is open for trading, shall collect and promptly transmit to the OPRA System by means of its own facilities bids and offers at stated prices or limits with respect to individual Eligible Securities in which it provides a market, sufficient in number and timeliness to reflect the current state of the market in such security.

  • Once the capacity of the OPRA System has been modified so as to be able to provide to a Member the capacity it has requested, that Member’s allocated share of OPRA System capacity shall not exceed its requested capacity unless the Member is able to acquire another Member’s unused capacity in accordance with Section 4.8 below.