Self-Regulatory Organization; Delta Clearing Corp.; Notice of Expiration of Temporary Registration as a Clearing Agency

[Federal Register Volume 64, Number 142 (Monday, July 26, 1999)]
[Notices]
[Pages 40401-40402]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-18990]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-41627; File No. 600-24]


Self-Regulatory Organization; Delta Clearing Corp.; Notice of 
Expiration of Temporary Registration as a Clearing Agency

July 20, 1999.
    Notice is hereby given that Delta Clearing Corp's (``DCC'') 
temporary registration as a clearing agency will expire on July 31, 
1999.\1\ DCC has informed the staff of the Securities and Exchange 
Commission (``Commission'') that it will not file an application 
requesting that the Commission extend its registration as a clearing 
agency.

    \1\ Securities Exchange Act Release No. 40112 (June 23, 1998), 
63 FR 35298 [File No. SR-DCC-600-24] (order approving DCC's 
extension of temporary registration).
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FOR FURTHER INFORMATION CONTACT: Jerry W. Carpenter, Assistant 
Director, or Susan Petersen, Staff Attorney, at 202/942-4187, Division 
of Market Regulation, Securities and Exchange Commission, 450 Fifth 
Street, NW, Washington, DC 20549-1001.

Background

    On January 12, 1990, pursuant to Sections 17A and 19(a) of the 
Securities Exchange Act of 1934 (``Act'') \2\ and Rule 17Ab2-1(c) 
thereunder,\3\ the Commission granted DCC's application for 
registration as a clearing agency on a temporary basis for a period of 
thirty-six months.\4\ Since that time, the Commission has extended 
DCC's temporary registration through July 31, 1999.\5\
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    \2\ 15 U.S.C. 78q-1 and 78s(a).
    \3\ 17 CFR 240.17Ab2-1(c).
    \4\ Securities Exchange Act Release No. 27611 (January 12, 
1990), 55 FR 1890. Prior to a 1996 name change, DCC was named Delta 
Government Options Corp.
    \5\ See Securities Exchange Act Release Nos. 31856 (February 11, 
1993), 58 FR 9005 (order extending registration until January 12, 
1995); 35198 (January 6, 1995), 60 FR 3286 (order extending 
registration until January 31, 1997); 38224 (January 31, 1997), 62 
FR 5869 (order extending registration until July 31, 1997); 38869 
(July 24, 1997), 62 FR 40871 (order extending registration until 
July 31, 1998); and 40112 (June 23, 1998) 63 FR 35298 (order 
extending registration until July 31, 1999).

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[[Page 40402]]

    On October 26, 1998, DCC informed the Commission staff \6\ that it 
would not accept new transactions after October 29, 1998, and would 
cease to carry transactions on its books after June 30, 1999. On 
October 29, 1998, DCC issued a notice to its participants to inform 
them of its decision to cease operations. DCC in fact ceased operations 
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on January 30, 1999.

    \6\ Telephone conversation between Ronald H. Buckner, President, 
DCC, and Commission staff (October 26, 1998).
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    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(16).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-18990 Filed 7-23-99; 8:45 am]
BILLING CODE 8010-01-M