On February 1st, the SEC provided notice of The Options Clearing Corporation's proposal to accommodate the clearance of options on certain indexes measuring the relative performance of one reference security or reference index relative to a second reference security or reference index. A reference security may be an exchange-traded fund. The revised rules have been broadly drafted to cover Alpha Options and any similar product that may be listed on any participant exchange in the future. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of February 7. SEC Release No. 34-63811.