83_FR_3392 83 FR 3376 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Related to The Options Clearing Corporation's Margin Methodology

83 FR 3376 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Related to The Options Clearing Corporation's Margin Methodology

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 16 (January 24, 2018)

Page Range3376-3376
FR Document2018-01210

Federal Register, Volume 83 Issue 16 (Wednesday, January 24, 2018) 
[Federal Register Volume 83, Number 16 (Wednesday, January 24, 2018)]
[Notices]
[Page 3376]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-01210]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82534; File No. SR-OCC-2017-022]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change Related to The Options Clearing Corporation's 
Margin Methodology

January 18, 2018.
    On November 13, 2017, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') 
proposed rule change SR-OCC-2017-022 (``Proposed Rule Change'') 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ related to OCC's margin 
methodology.\3\ The Proposed Rule Change was published for comment in 
the Federal Register on December 4, 2017.\4\ To date, the Commission 
has received one comment letter to the Proposed Rule Change.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ On November 13, 2017, OCC also filed this proposal as 
advance notice SR-OCC-2017-811 (``Advance Notice'') with the 
Commission pursuant to Section 806(e)(1) of Title VIII of the Dodd-
Frank Wall Street Reform and Consumer Protection Act, entitled the 
Payment, Clearing, and Settlement Supervision Act of 2010 (12 U.S.C. 
5465(e)(1)) and Rule 19b-4(n)(1)(i) of the Act (17 CFR 240.19b-
4(n)(1)(i)). Notice of filing of the Advance Notice was published 
for comment in the Federal Register on December 26, 2017. Securities 
Exchange Act Release No. 82355 (Dec. 19, 2017), 82 FR 61060 (Dec. 
26, 2017) (SR-OCC-2017-811).
    On January 11, 2018, the Commission sent OCC a request for 
additional information, which tolls the Commission's 60-day review 
period for the Advance Notice. See Memorandum from Office of 
Clearance and Settlement, Division of Trading and Markets, dated 
January 12, 2018, available at https://www.sec.gov/comments/sr-occ-2017-022/occ2017022.htm. The new review period will be 60 days from 
the date the Commission receives the information requested. See 
Section 806(e)(1). The proposal in the Proposed Rule Change and the 
Advance Notice shall not take effect until all regulatory actions 
required with respect to the proposal are completed.
    \4\ Securities Exchange Act Release No. 82161 (Nov. 28, 2017), 
82 FR 57306 (Dec. 4, 2017) (SR-OCC-2017-022).
    \5\ See letter from Michael Kitlas, dated November 28, 2017, to 
Eduardo A. Aleman, Assistant Secretary, Commission, available at 
https://www.sec.gov/comments/sr-occ-2017-022/occ2017022.htm. Since 
the proposal contained in the Proposed Rule Change was also filed as 
an Advance Notice, the Commission is considering all public comments 
received on the proposal regardless of whether the comments are 
submitted to the Proposed Rule Change or the Advance Notice.
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    Section 19(b)(2) of the Act \6\ provides that, within 45 days of 
the publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding, or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this Proposed Rule Change 
is January 18, 2018. The Commission is extending this 45-day time 
period.
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    \6\ 15 U.S.C. 78s(b)(2).
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    In order to provide the Commission with sufficient time to consider 
the Proposed Rule Change, the Commission finds that it is appropriate 
to designate a longer period within which to take action on the 
Proposed Rule Change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates March 4, 2018 as the date by which the Commission 
shall either approve, disapprove, or institute proceedings to determine 
whether to disapprove proposed rule change SR-OCC-2017-022.
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-01210 Filed 1-23-18; 8:45 am]
BILLING CODE 8011-01-P

3376 Federal Register / Vol. 83, No. 16 / Wednesday, January 24, 2018 / Notices it appears to the Commission that such to make available publicly. All Commission has received one comment action is necessary or appropriate in the submissions should refer to File letter to the Proposed Rule Change.5 public interest, for the protection of Number SR–CBOE–2018–003 and Section 19(b)(2) of the Act 6 provides investors, or otherwise in furtherance of should be submitted on or before that, within 45 days of the publication the purposes of the Act. If the February 14, 2018. of notice of the filing of a proposed rule Commission takes such action, the For the Commission, by the Division of change, or within such longer period up Commission will institute proceedings Trading and Markets, pursuant to delegated to determine whether the proposed rule to 90 days as the Commission may authority.28 change should be approved or designate if it finds such longer period Eduardo A. Aleman, disapproved. to be appropriate and publishes its Assistant Secretary. reasons for so finding, or as to which the IV. Solicitation of Comments [FR Doc. 2018–01206 Filed 1–23–18; 8:45 am] self-regulatory organization consents, BILLING CODE 8011–01–P Interested persons are invited to the Commission shall either approve the submit written data, views, and proposed rule change, disapprove the arguments concerning the foregoing, proposed rule change, or institute SECURITIES AND EXCHANGE including whether the proposed rule proceedings to determine whether the COMMISSION change is consistent with the Act. proposed rule change should be Comments may be submitted by any of [Release No. 34–82534; File No. SR–OCC– disapproved. The 45th day after the following methods: 2017–022] publication of the notice for this Electronic Comments Self-Regulatory Organizations; The Proposed Rule Change is January 18, • Use the Commission’s internet Options Clearing Corporation; Notice 2018. The Commission is extending this comment form (http://www.sec.gov/ of Designation of Longer Period for 45-day time period. rules/sro.shtml); or Commission Action on Proposed Rule In order to provide the Commission • Send an email to rule-comments@ Change Related to The Options with sufficient time to consider the sec.gov. Please include File Number SR– Clearing Corporation’s Margin Proposed Rule Change, the Commission CBOE–2018–003 on the subject line. Methodology finds that it is appropriate to designate Paper Comments January 18, 2018. a longer period within which to take On November 13, 2017, The Options action on the Proposed Rule Change. • Send paper comments in triplicate to Secretary, Securities and Exchange Clearing Corporation (‘‘OCC’’) filed with Accordingly, the Commission, Commission, 100 F Street NE, the Securities and Exchange pursuant to Section 19(b)(2) of the Act,7 Washington, DC 20549–1090. Commission (‘‘Commission’’) proposed designates March 4, 2018 as the date by rule change SR–OCC–2017–022 which the Commission shall either All submissions should refer to File (‘‘Proposed Rule Change’’) pursuant to approve, disapprove, or institute Number SR–CBOE–2018–003. This file Section 19(b)(1) of the Securities proceedings to determine whether to number should be included on the Exchange Act of 1934 (‘‘Act’’),1 and subject line if email is used. To help the disapprove proposed rule change SR– Rule 19b–4 thereunder,2 related to Commission process and review your OCC–2017–022. OCC’s margin methodology.3 The comments more efficiently, please use For the Commission, by the Division of Proposed Rule Change was published only one method. The Commission will Trading and Markets, pursuant to delegated for comment in the Federal Register on post all comments on the Commission’s authority.8 December 4, 2017.4 To date, the internet website (http://www.sec.gov/ Eduardo A. Aleman, rules/sro.shtml). Copies of the 28 17 CFR 200.30–3(a)(12). submission, all subsequent 1 15 Assistant Secretary. U.S.C. 78s(b)(1). amendments, all written statements 2 17 CFR 240.19b–4. [FR Doc. 2018–01210 Filed 1–23–18; 8:45 am] with respect to the proposed rule 3 On November 13, 2017, OCC also filed this BILLING CODE 8011–01–P change that are filed with the proposal as advance notice SR–OCC–2017–811 (‘‘Advance Notice’’) with the Commission pursuant Commission, and all written to Section 806(e)(1) of Title VIII of the Dodd-Frank communications relating to the Wall Street Reform and Consumer Protection Act, proposed rule change between the entitled the Payment, Clearing, and Settlement Commission and any person, other than Supervision Act of 2010 (12 U.S.C. 5465(e)(1)) and Rule 19b–4(n)(1)(i) of the Act (17 CFR 240.19b– those that may be withheld from the 4(n)(1)(i)). Notice of filing of the Advance Notice public in accordance with the was published for comment in the Federal Register provisions of 5 U.S.C. 552, will be on December 26, 2017. Securities Exchange Act Release No. 82355 (Dec. 19, 2017), 82 FR 61060 available for website viewing and (Dec. 26, 2017) (SR–OCC–2017–811). printing in the Commission’s Public On January 11, 2018, the Commission sent OCC Reference Room, 100 F Street NE, a request for additional information, which tolls the 5 See letter from Michael Kitlas, dated November Washington, DC 20549 on official Commission’s 60-day review period for the 28, 2017, to Eduardo A. Aleman, Assistant Advance Notice. See Memorandum from Office of business days between the hours of Clearance and Settlement, Division of Trading and Secretary, Commission, available at https:// 10:00 a.m. and 3:00 p.m. Copies of the Markets, dated January 12, 2018, available at www.sec.gov/comments/sr-occ-2017-022/ filing also will be available for https://www.sec.gov/comments/sr-occ-2017-022/ occ2017022.htm. Since the proposal contained in inspection and copying at the principal occ2017022.htm. The new review period will be 60 the Proposed Rule Change was also filed as an daltland on DSKBBV9HB2PROD with NOTICES days from the date the Commission receives the Advance Notice, the Commission is considering all office of the Exchange. All comments information requested. See Section 806(e)(1). The public comments received on the proposal received will be posted without change. proposal in the Proposed Rule Change and the regardless of whether the comments are submitted Persons submitting comments are Advance Notice shall not take effect until all to the Proposed Rule Change or the Advance cautioned that we do not redact or edit regulatory actions required with respect to the Notice. proposal are completed. personal identifying information from 4 Securities Exchange Act Release No. 82161 6 15 U.S.C. 78s(b)(2). comment submissions. You should (Nov. 28, 2017), 82 FR 57306 (Dec. 4, 2017) (SR– 7 Id. submit only information that you wish OCC–2017–022). 8 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 20:25 Jan 23, 2018 Jkt 244001 PO 00000 Frm 00082 Fmt 4703 Sfmt 9990 E:\FR\FM\24JAN1.SGM 24JAN1


Document Created: 2018-10-26 09:59:49
Document Modified: 2018-10-26 09:59:49
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation83 FR 3376 
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