Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Yield-Based Treasury Securities, 71464-71465 [E7-24308]

Download as PDF ebenthall on PROD1PC69 with NOTICES 71464 Federal Register / Vol. 72, No. 241 / Monday, December 17, 2007 / Notices Pursuant to its authority under section 5051 of Public Law 100–203, Nuclear Waste Policy Amendments Act of 1987, the U.S. Nuclear Waste Technical Review Board will meet in Las Vegas, Nevada, to review U.S. Department of Energy (DOE) activities related to the proposed repository for spent nuclear fuel and high-level radioactive waste at Yucca Mountain in Nevada. Among the issues that will be discussed are transportation of the wastes, the potential tunnel environments after repository closure, and waste-package corrosion issues. The Board was charged in the Nuclear Waste Policy Amendments Act of 1987 with conducting an independent review of the technical and scientific validity of DOE activities related to the implementation of the Nuclear Waste Policy Act, including disposing of, packaging, and transporting spent nuclear fuel and high-level radioactive waste. The meeting will be held in the Lake Mead/Red Rock/Mt. Charleston Ballroom on the 17th floor of the Marriott Suites Convention Center Hotel; 325 Convention Center Drive; Las Vegas, Nevada 89109; (tel) 702–650– 2000; (fax) 702–650–9466. A meeting agenda will be available on the Board’s Web site (http:// www.nwtrb.gov) approximately one week before the date of the workshop. The agenda also may be obtained by telephone request at that time. The meeting will be open to the public, and opportunities for public comment will be provided. The meeting will be called to order by Board Chairman B. John Garrick at 8:00 a.m., followed by a program overview and an update of DOE transportation activities. Those presentations will be followed by discussions of DOE’s thermal strategy for emplacing waste packages and plans for long-term corrosion testing. The discussions will resume after lunch with presentations on the effects of temperature on the composition of soluble salts in dust and on waste from degradation analysis. Time will be set aside at the end of the day for public comments. Those wanting to speak are encouraged to sign the ‘‘Public Comment Register’’ at the check-in table. A time limit may have to be set on individual remarks, but written comments of any length may be submitted for the record. Transcripts of the meeting will be available on the Board’s Web site, by email, on computer disk, and on a library-loan basis in paper format from Davonya Barnes of the Board’s staff no later than January 30, 2008. VerDate Aug<31>2005 15:28 Dec 14, 2007 Jkt 214001 A block of rooms has been reserved for meeting attendees at the Marriott Suites Convention Center Hotel. When making a reservation, please state that you will be attending the Nuclear Waste Technical Review Board meeting. Reservations should be made by December 28, 2007, to ensure receiving the workshop rate. To make reservations call 800–228–9290 or access hotel reservations online at http:// marriott.com/LASST?groupCode= NWTNWTA=resvlink. For more information, contact Karyn Severson, NWTRB External Affairs; 2300 Clarendon Boulevard, Suite 1300; Arlington, VA 22201–3367; (tel) 703– 235–4473; (fax) 703–235–4495. Dated: December 12, 2007. William D. Barnard, Executive Director, Nuclear Waste Technical Review Board. [FR Doc. 07–6061 Filed 12–14–07; 8:45 am] BILLING CODE 6820–AM–M SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Company Accounting Oversight Board and will consider the related annual accounting support fee for the Board under Section 109 of the Sarbanes-Oxley Act of 2002. The subject matter of the Closed Meeting scheduled for Thursday, December 20, 2007 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; Resolution of litigation claims; A matter related to an enforcement proceeding; and an Adjudicatory matter. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: December 12, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–24447 Filed 12–14–07; 8:45 am] Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meetings during the week of December 17, 2007: BILLING CODE 8011–01–P An Open Meeting will be held on Tuesday, December 18, 2007, at 10 a.m., in Room L– 002, the Auditorium, and a Closed Meeting will be held on Thursday, December 20, 2007 at 2 p.m. [Release No. 34–56931; File No. SR–OCC– 2007–07] Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), (9)(B), and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Nazareth, as duty officer, voted to consider the items listed for the closed meeting in closed session, and determined that no earlier notice of the Open Meeting was possible. The subject matter of the Open Meeting scheduled for Tuesday, December 18, 2007 will be: The Commission will consider whether to approve the 2008 budget of the Public PO 00000 Frm 00120 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Yield-Based Treasury Securities December 7, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on May 24, 2007, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which items have been prepared primarily by OCC. OCC filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act2 and Rule 19b–4(f)(4) 3 thereunder so that the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). U.S.C. 78q–1(b)(3)(A)(iii). 3 17 CFR 240.19b–4(f)(4). 2 15 E:\FR\FM\17DEN1.SGM 17DEN1 Federal Register / Vol. 72, No. 241 / Monday, December 17, 2007 / Notices I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change would make minor technical changes to Sections 3 and 4 of Article XVI of OCC’s By-Laws pertaining to yield-based Treasury options. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, OCC included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. OCC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements. 4 ebenthall on PROD1PC69 with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of this rule change is to make minor technical changes to Sections 3 and 4 of Article XVI of OCC’s By-Laws, pertaining to yield-based Treasury options. In 2004, OCC amended Sections 3 and 4 of Article XVI to conform those sections to the corresponding By-Law provisions governing index options. 5 However, OCC delayed implementing these changes until they were disclosed in a supplement to the options disclosure document, Characteristics and Risks of Standardized Options. 6 Distribution of such a supplement recently began. In connection with preparing the supplement, OCC determined that minor technical changes to Sections 3 and 4 of Article XVI were warranted in order to more precisely conform these Sections to the disclosures made in the supplement. OCC also determined to correct an erroneous cross-reference to another By-Laws provision. The proposed change is consistent with Section 17A of the Act because it more precisely conforms the terms of Sections 3 and 4 of Article XVI to disclosures made in a supplement to the options disclosure document, thereby increasing the protection of investors and promoting the prompt and accurate 4 The Commission has modified parts of these statements. 5 Securities Exchange Act Release No. 50895 (December 20, 2004), 69 FR 78085 (December 29, 2004) (File No. SR–OCC–2004–11). 6 Securities Exchange Act Release No. 55702 (May 3, 2007), 72 FR 26671 (May 10, 2007) (File No. SR– ODD–2007–02). VerDate Aug<31>2005 15:28 Dec 14, 2007 Jkt 214001 clearance and settlement of yield-based Treasury options. The proposed rule change is not inconsistent with the existing rules of OCC, including any other rules proposed to be amended. B. Self-Regulatory Organization’s Statement on Burden on Competition OCC does not believe that the proposed rule change would impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were not and are not intended to be solicited with respect to the proposed rule change, and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act 7 and Rule 19b–4(f)(4) 8 promulgated thereunder because the proposal effects a change in an existing service of OCC that (A) does not adversely affect the safeguarding of securities or funds in the custody or control of OCC or for which it is responsible and (B) does not significantly affect the respective rights or obligations of OCC or persons using the service. At any time within sixty days of the filing of the proposed rule change, the Commission could have summarily abrogated such rule change if it appeared to the Commission that such action was necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. 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. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–OCC–2007–07 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, 7 15 8 17 PO 00000 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(4). Frm 00121 Fmt 4703 Sfmt 4703 71465 Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–OCC–2007–07. This file number should be included on the subject line if e-mail is used. 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 Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of OCC. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–OCC–2007–07 and should be submitted on or before January 7, 2008. For the Commission by the Division of Trading and Markets, pursuant to delegated authority. 9 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–24308 Filed 12–14–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56937; File No. SR–CBOE– 2007–127] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Cancellation Fees December 10, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 9 17 E:\FR\FM\17DEN1.SGM CFR 200.30–3(a)(12). 17DEN1

Agencies

[Federal Register Volume 72, Number 241 (Monday, December 17, 2007)]
[Notices]
[Pages 71464-71465]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-24308]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56931; File No. SR-OCC-2007-07]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
Relating to Yield-Based Treasury Securities

December 7, 2007.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on May 24, 2007, The Options 
Clearing Corporation (``OCC'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change as described in 
Items I, II, and III below, which items have been prepared primarily by 
OCC. OCC filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act\2\ and Rule 19b-4(f)(4) \3\ thereunder so 
that the proposal was effective upon filing with the Commission. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78q-1(b)(3)(A)(iii).
    \3\ 17 CFR 240.19b-4(f)(4).

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[[Page 71465]]

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change would make minor technical changes to 
Sections 3 and 4 of Article XVI of OCC's By-Laws pertaining to yield-
based Treasury options.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, OCC included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. OCC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such statements. 
\4\
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    \4\ The Commission has modified parts of these statements.
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A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of this rule change is to make minor technical changes 
to Sections 3 and 4 of Article XVI of OCC's By-Laws, pertaining to 
yield-based Treasury options. In 2004, OCC amended Sections 3 and 4 of 
Article XVI to conform those sections to the corresponding By-Law 
provisions governing index options. \5\ However, OCC delayed 
implementing these changes until they were disclosed in a supplement to 
the options disclosure document, Characteristics and Risks of 
Standardized Options. \6\ Distribution of such a supplement recently 
began. In connection with preparing the supplement, OCC determined that 
minor technical changes to Sections 3 and 4 of Article XVI were 
warranted in order to more precisely conform these Sections to the 
disclosures made in the supplement. OCC also determined to correct an 
erroneous cross-reference to another By-Laws provision.
---------------------------------------------------------------------------

    \5\ Securities Exchange Act Release No. 50895 (December 20, 
2004), 69 FR 78085 (December 29, 2004) (File No. SR-OCC-2004-11).
    \6\ Securities Exchange Act Release No. 55702 (May 3, 2007), 72 
FR 26671 (May 10, 2007) (File No. SR-ODD-2007-02).
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    The proposed change is consistent with Section 17A of the Act 
because it more precisely conforms the terms of Sections 3 and 4 of 
Article XVI to disclosures made in a supplement to the options 
disclosure document, thereby increasing the protection of investors and 
promoting the prompt and accurate clearance and settlement of yield-
based Treasury options. The proposed rule change is not inconsistent 
with the existing rules of OCC, including any other rules proposed to 
be amended.

B. Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any 
burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were not and are not intended to be solicited with 
respect to the proposed rule change, and none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(4) \8\ promulgated 
thereunder because the proposal effects a change in an existing service 
of OCC that (A) does not adversely affect the safeguarding of 
securities or funds in the custody or control of OCC or for which it is 
responsible and (B) does not significantly affect the respective rights 
or obligations of OCC or persons using the service. At any time within 
sixty days of the filing of the proposed rule change, the Commission 
could have summarily abrogated such rule change if it appeared to the 
Commission that such action was necessary or appropriate in the public 
interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.
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    \7\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \8\ 17 CFR 240.19b-4(f)(4).
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IV. 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. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-OCC-2007-07 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-OCC-2007-07. This file 
number should be included on the subject line if e-mail is used. 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 Web site (http://www.sec.gov/rules/
sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for inspection and 
copying in the Commission's Public Reference Room, 100 F Street, NE., 
Washington, DC 20549, on official business days between the hours of 10 
a.m. and 3 p.m. Copies of such filing also will be available for 
inspection and copying at the principal office of OCC. All comments 
received will be posted without change; the Commission does not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number SR-OCC-2007-07 and should be 
submitted on or before January 7, 2008.

    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority. \9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-24308 Filed 12-14-07; 8:45 am]
BILLING CODE 8011-01-P