The Securities Industry Automation Corporation (SIAC) collects the latest sales information and offers from each of the participants` exchanges. SIAC then consolidates and distributes this data to licensed suppliers. The Option Price Reporting Authority (OPRA) provides, through market data providers, the latest sales information and options offers from a subscriber exchange committee called the Option Price Information Authority.  Contact an OPRA supplier directly. The creditor provides you with a subscription agreement. The subscription agreement contains an “addendum for non-professionals.” Return the agreement made to the creditor. The provider reviews your agreement to determine if you qualify as a non-professional subscriber. OPRA accepts payments by cheque, ACH or bank transfer. Payments of cheques sent must include the return portion of the invoice so that the balances are applied to the correct account.
ACH and wire payments should include customer number and bill number. The ACH/WIRE mailing address and payment instructions are on your OPRA invoice. Please refer all payment or billing issues to firstname.lastname@example.org Option Price Reporting Authority, LLC (OPRA) is a securities information processor registered as such pursuant to Section 11A (b) of the Securities Exchange Act of 1934 as amended (the “Exchange Act”). OPRA members are made up of national stock exchanges that have been approved by the Securities and Exchange Commission (the “Commission”) to provide listing and trading contracts for exchange-traded securities options. These exchanges were authorized by the Commission, pursuant to Section 11A (a) (a) (B) of the Exchanges Act, to act jointly as parties to the national OPRA Market Systems Plan, “Limited Liability Company Agreement of Options Price Reporting Authority, LLC.” This plan, as amended from time to time in accordance with its provisions, is often referred to as the “OPRA Plan” and the parties to the OPRA plan, as they exist from time to time, are referred to as “OPRA participants.” OPRA is a national market systems plan that governs the process of collecting, consolidating and disseminating market data for options from participant exchanges. “eligible securities,” any series of listed options contracts traded on one or more opra exchanges. SIAC is responsible for OPRA systems and networks. CBOE acts as an OPRA administrator. OPRA`s definitions for “non-screen use” and related terms can be included in OPRA`s pricing plan notes. The quotes taken from each exchange are then combined by OPRA`s feeds to create a national best bid-offer (NBBO) offer.
Any trading on an options exchange, as well as any price change listed on an options exchange, is notified to OPRA in the form of a “message.” Quoted information traffic accounts for the vast majority of the options generated for message traffic. In general, prices are automatically generated for individual option series based on changes in the share price or the value of the underlying index.