OPRA JA fy11-FBO.doc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

OPERATIONS CENTER

OFFICE OF

6432 GENERAL GREEN WAY

ADMINISTRATIVE AND

ALEXANDRIA, VIRGINA 22312-2413

PERSONNEL MANAGEMENT

JUSTIFICATION AND APPROVAL

FOR OTHER THAN FULL AND OPEN COMPETITION

Upon the basis of the following justification, I hereby approve the issuance of the contractual action discussed below using other than full and open competition, pursuant to the authority cited herein.

1. Contracting Activity.

U.S. Securities and Exchange Commission

6432 General Green Way

Alexandria, VA 22312-2413

2. Nature and Description of Action Being Approved:

The US Securities and Exchange Commission (SEC) intends to award a sole source requirement to the Options Price Reporting Authority (OPRA), 400 South LaSalle Street, 6th Floor, Chicago, IL 60605, for real-time last sale reports and current options quotations from OPRA.

3. Description of the supplies or services required to meet the needs of the SEC and the estimated value:

The requirement is for an electronic service that provides real time, aggregated options data from participant exchanges designated as the Options Price Reporting Authority (OPRA). Current OPRA participants include: NYSE AMEX, NYSE Arca, BATS Global Markets, Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ OMX, and NASDAQ OMX PHLX.

The data shall include last sale reports (including price and volume of completed transactions) and current options quotations (including bids and offers), for all options traded on US exchanges, except for foreign currency options. The data shall be aggregated and delivered in real time to the SEC via 8 Bloomberg Professional terminals, 4 Reuters 3000 Xtra terminals, and 2 ReutersStation terminals.

The estimated contract value for the base year is $4,079, which will use FY 2011 funds. The period of performance is for 12 months from April 1, 2011 through March 31, 2012.

4. Statutory Authority for Other Than Full and Open Competition:

The statutory authority permitting other than full and open competition is 41 U.S.C.253(c)(1) FAR 6.302-1 (a)(2) - Only one responsible source.

5. Demonstration that the proposed contractor's unique qualifications or nature of the acquisition requires use of the authority cited:

OPRA is a committee of representatives from the exchanges in the US on which securities options are traded. It is the information processor for market information generated by the trading of securities options in the United States. OPRA provides a unique service that collects, consolidates and disseminates last sale reports and quotation data in real-time from the participant exchanges listed above in #3.

The Commission requires that the service be delivered via multiple services. OPRA is currently the only known source that provides this comprehensive information transmitted to, and then delivered over, circuits provided by these vendors.

6.

Efforts to Ensure that offers are solicited from as Many Potential Sources as Possible.

Efforts to solicit offers from sources other than OPRA for the current requirements have been unsuccessful. OPRA is the only vendor capable of delivering the information requirements. The requirement was transmitted to GPE on [3/30/2011] and, if warranted by the response to such notice, this action will be reviewed.

7. Determination by the Contracting Officer that the anticipated cost to the Government will be fair and reasonable.

Before awarding a contract, the Contracting Officer will perform a more detailed price analysis in accordance with FAR 15.404-1(b)(and a cost analysis, if required) to determine whether the price is fair and reasonable.

8. Description of a market survey conducted and results or statement of the reasons a market survey was not conducted:

A separate market survey was not conducted for this procurement, as it would not produce another acceptable source.

9. Other Supporting Facts:

N/A

10. A listing of the sources, if any that expressed, in writing an interest in the acquisition:

A list of sources that expressed an interest in actions under this J&A is maintained in the applicable contract files.

11. A statement of the actions, if any, the agency may take to remove or overcome any barriers to competition before any subsequent acquisition for the supplies or services required:

The Commission’s information requirements are ongoing and future acquisitions of similar services will be advertised.