Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”),^[1] and Rule 19b-4 thereunder,^[2] notice is hereby given that on January 17, 2025, The Options Clearing Corporation (“Clearing Agency”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Item I below, which Items has been substantially prepared primarily by the Clearing Agency. The Clearing Agency has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act ^[3] and Rule 19b-4(f)(1) thereunder.^[4] The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.

I. Clearing Agency's Statement of the Terms of Substance of the Proposed Rule Change

The Clearing Agency proposes to revise its Risk Management Framework, Corporate Risk Management Policy, and Default Management Policy (collectively, the “Clearing Agency Policies”). The proposed changes are designed to update the Clearing Agency Policies to better align the descriptions therein with the Clearing Agency's current practices and make other non-substantive, clarifying, conforming and administrative changes. These changes are designed to enhance the clarity of OCC's internal governance arrangements and are not expected to have any impact on OCC's Clearing Members or other market participants.

The proposed rule change, including the Clearing Agency's statement of the purpose of, and statutory basis for, the proposed rule change, is available on the Clearing Agency's website at https://www.theocc.com and on the Commission's website at https://www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​%20OCC?​file_​number=​SR-OCC-2025-001.

II. Solicitation of Comments

Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act.^[5] Comments may be submitted electronically by using the Commission's internet comment form ( https://www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​national-securities-exchanges?​file_​number=​SR-OCC-2025-001) or by sending an email to rule-comments@sec.gov. Please include file number SR-OCC-2025-001 on the subject line. Alternatively, paper comments may be sent to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to file number SR-OCC-2025-001. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's internet website ( https://www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​national-securities-exchanges?​file_​number=​SR-OCC-2025-001). Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication ( printed page 8729) submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR-OCC-2025-001 and should be submitted on or before February 21, 2025.