Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Definition of Government Securities To Exclude Separate Trading of Registered Interest and Principal Securities on Treasury Inflation Protected Securities, Commonly Known as TIP-STRIPS, 50030-50032 [2010-20181]

Download as PDF 50030 Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices In addition, the Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,8 in general, and with Section 6(b)(4) of the Act,9 in particular, in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility or system which the Exchange operates or controls. In particular, the Exchange notes that it operates in a highly competitive market in which market participants can readily direct orders to competing venues and that use of the Correlix RaceTeam product is completely voluntary. Further, the Exchange makes the RaceTeam product uniformly available pursuant to a standard non-discriminatory pricing schedule offered by Correlix. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. sroberts on DSKD5P82C1PROD with NOTICES 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: 8 15 9 15 U.S.C. 78f. U.S.C. 78f(b)(4). VerDate Mar<15>2010 18:51 Aug 13, 2010 Jkt 220001 Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–EDGX–2010–09 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–EDGX–2010–09. 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 (https://www.sec.gov/ rules/sro.shtml). Copies of the submission,10 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 Web site viewing and printing 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 the filing also will be available for inspection and copying at the principal office of the Exchange. 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–EDGX– 2010–09 and should be submitted on or before September 7, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–20104 Filed 8–13–10; 8:45 am] BILLING CODE 8010–01–P 10 The text of the proposed rule change is available on Exchange’s Web site at https:// www.directedge.com, on the Commission’s Web site at https://www.sec.gov, at EDGX, and at the Commission’s Public Reference Room. 11 17 CFR 200.30–3(a)(12). PO 00000 Frm 00145 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62685; File No. SR–OCC– 2010–12] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Definition of Government Securities To Exclude Separate Trading of Registered Interest and Principal Securities on Treasury Inflation Protected Securities, Commonly Known as TIP–STRIPS August 10, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 29, 2010, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II below, which items have been prepared primarily by OCC. OCC filed the proposal pursuant to Section 19(b)(3)(A)(i) of the Act 2 and Rule 19b– 4(f)(1) 3 thereunder so that the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the rule change from interested parties. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change will modify the definition of ‘‘Government securities’’ found in Article I, Section 1 of OCC’s By-Laws to exclude Separate Trading of Registered Interest and Principal Securities (‘‘STRIPS’’) on Treasury Inflation Protected Securities (‘‘TIPS’’), commonly known as TIP– STRIPS. 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 these statements.4 1 15 U.S.C. 78s(b)(1). U.S.C. 78s(b)(3)(A)(i). 3 17 CFR 240.19b–4(f)(1). 4 The Commission has modified the text of the summaries prepared by OCC. 2 15 E:\FR\FM\16AUN1.SGM 16AUN1 Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices 2. Statutory Basis (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change sroberts on DSKD5P82C1PROD with NOTICES 1. Purpose The purpose of this rule change is to modify the definition of ‘‘Government securities’’ found in Article I, Section 1 of OCC’s By-Laws to exclude Separate Trading of Registered Interest and Principal Securities (‘‘STRIPS’’) on Treasury Inflation Protected Securities (‘‘TIPS’’), commonly known as TIP– STRIPS. The reason for the proposed exclusion is the absence of a liquid secondary market for TIP–STRIPS. U.S. and Canadian Government securities are acceptable forms of collateral for margin and clearing fund purposes. OCC defines Government securities to be securities issued or guaranteed by the United States or Canadian Government or any other government acceptable to OCC. U.S. Government securities include bills, bonds, notes, TIPS, and STRIPS. The U.S. Government does not issue STRIPS, but it does guarantee their principal payments making them eligible as Government securities for purposes of OCC’s By-Laws and Rules. The U.S. Government also does not issue TIP–STRIPS. Nonetheless, TIP– STRIPS fall within OCC’s definition of Government securities as their principal is guaranteed by the U.S. Government. TIP–STRIPS were first issued in the late 1990’s by an investment bank to meet the needs of certain clients. The securities are registered in the Federal Reserve Bank’s book entry system. The securities have a de minimis circulation, and there currently is no active secondary market for them resulting in a lack of price transparency and liquidity and no reliable means by which to determine their value. OCC’s ability to liquidate this form of collateral in the event of a clearing member default could be severely compromised as a result of these factors. Accordingly, OCC has concluded TIP–STRIPS should be excluded from the definition of Government securities. OCC is unaware of any instance in which a clearing member has pledged TIP–STRIPS to meet its margin or clearing fund obligation. Therefore, OCC believes excluding TIP–STRIPS from the definition of Government securities enhances the protection of OCC, clearing members, and the investing public without imposing a burden on clearing members depositing Government securities to meet their margin and clearing fund obligations. VerDate Mar<15>2010 18:51 Aug 13, 2010 Jkt 220001 50031 IV. Solicitation of Comments OCC believes that the proposed rule change is consistent with Section 17A of the Act,5 as amended, because it assures the safeguarding of securities and funds which are in OCC’s custody and control and provides for the protection of investors and the public interest. The proposed change meets these objectives by making a security with de minimis circulation, liquidity, and price transparency ineligible for deposit as a form of collateral. As OCC has not identified an instance in which a clearing member has deposited such security as collateral, the proposed change does not burden clearing members or adversely affect their ability to meet their obligations to OCC. The proposed rule change is not inconsistent with the existing rules of OCC, including any other rules proposed to be amended. 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: (B) Self-Regulatory Organization’s Statement on Burden on Competition OCC does not believe that the proposed rule change will have any impact or 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 relating to the proposed rule change were not and are not intended to be solicited or received. OCC will notify the Commission of any written comments received by OCC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(i) of the Act 6 and Rule 19b–4(f)(1) 7 thereunder because the proposed rule change constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. 5 15 U.S.C. 78q–1. U.S.C. 78s(b)(3)(A)(i). 7 17 CFR 240.19b–4(f)(1). 6 15 PO 00000 Frm 00146 Fmt 4703 Sfmt 4703 Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–OCC–2010–12 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–OCC–2010–12. 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 (https://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 Web site viewing and printing 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 filings also will be available for inspection and copying at the principal office of OCC and on OCC’s Web site at https://www. optionsclearing.com/components/docs/ legal/rules_and_bylaws/sr_occ_10_12. pdf. 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–2010–12 and should be submitted on or before September 7, 2010. E:\FR\FM\16AUN1.SGM 16AUN1 50032 Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices For the Commission by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–20181 Filed 8–13–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62686; File No. SR–DTC– 2010–10] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Promote Efficiencies Within the Legal Notice System August 10, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on July 29, 2010, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II below, which items have been prepared primarily by DTC. DTC filed the proposal 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 rule change from interested parties. sroberts on DSKD5P82C1PROD with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change promotes efficiencies within the Legal Notice System (‘‘LENS’’). II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.4 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78s(b)(3)(A)(iii). 3 17 CFR 240.19b–4(f)(4). 4 The Commission has modified the text of the summaries prepared by DTC. 1 15 VerDate Mar<15>2010 18:51 Aug 13, 2010 Jkt 220001 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose In 1991, DTC created LENS to reduce the amount of paper that DTC participants (‘‘Participants’’) receive in connection with DTC’s distribution of legal notices. At that time, notices were made available through an electronic format through DTC’s proprietary PTS 3270 terminal network (‘‘PTS service’’).5 In 2000, DTC enhanced LENS by making the notices available over the Internet (‘‘Web service’’).6 The Web service improved the PTS service by: (i) Reducing the costs of distribution, which cost was ultimately borne by Participants, (ii) offering online viewing of notices and notice download capability, and (iii) providing up-to-date functionality that a web environment supports such as the option to receive e-mail alerts when new notices are posted for CUSIPs specified by the user. The Web service is also more accessible, requiring little or no training when Participants bring on new staff. Recently, DTC has been studying whether further enhancements and efficiencies can be made to the LENS service. In an effort to reduce the costs associated with LENS, DTC will end the use of the LENS service through PTS effective August 27, 2010. DTC has notified Participants currently using the LENS system through PTS by Important Notice on a ‘‘splash screen’’ (displayed when Participants sign on to PTS) and through its Relationship Management newsletter. Participants will continue to have access to LENS through the Web service, which, as mentioned previously, provides greater ease of use and functionality. 2. Statutory Basis DTC believes that the proposed rule change is consistent with Section 17A of the Act 7 because it controls costs associated with a service provided by DTC and therefore does not significantly affect the respective rights or obligations of DTC or persons using the service. (B) Self-Regulatory Organization’s Statement on Burden on Competition DTC does not believe that the proposed rule change will have any impact or impose any burden on competition. 5 Securities Exchange Act Release No. 34–29291 (June 12, 1991), 56 FR 28190 (June 19, 1991). 6 Securities Exchange Act Release No. 34–43964 (February 14, 2001), 66 FR 1190 (February 22, 2001). 7 15 U.S.C. 78q–1. PO 00000 Frm 00147 Fmt 4703 Sfmt 4703 (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change were not and are not intended to be solicited or received. DTC will notify the Commission of any written comments received by DTC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(iii) of the Act 8 and Rule 19b–4(f)(4) 9 thereunder because the proposed rule change effects a change in an existing service of DTC that: (i) Does not adversely affect the safeguarding of securities or funds in DTC’s custody or control or for which it is responsible and (ii) does not significantly affect the respective rights and obligations of DTC or persons using the service. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–DTC–2010–10 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–DTC–2010–10. 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 8 15 9 17 E:\FR\FM\16AUN1.SGM U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(4). 16AUN1

Agencies

[Federal Register Volume 75, Number 157 (Monday, August 16, 2010)]
[Notices]
[Pages 50030-50032]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-20181]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62685; File No. SR-OCC-2010-12]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Modify the Definition of Government Securities To Exclude Separate 
Trading of Registered Interest and Principal Securities on Treasury 
Inflation Protected Securities, Commonly Known as TIP-STRIPS

August 10, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on July 29, 2010, The Options 
Clearing Corporation (``OCC'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change described in Items 
I and II below, which items have been prepared primarily by OCC. OCC 
filed the proposal pursuant to Section 19(b)(3)(A)(i) of the Act \2\ 
and Rule 19b-4(f)(1) \3\ thereunder so that the proposal was effective 
upon filing with the Commission. The Commission is publishing this 
notice to solicit comments on the rule change from interested parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78s(b)(3)(A)(i).
    \3\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------

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

    The proposed rule change will modify the definition of ``Government 
securities'' found in Article I, Section 1 of OCC's By-Laws to exclude 
Separate Trading of Registered Interest and Principal Securities 
(``STRIPS'') on Treasury Inflation Protected Securities (``TIPS''), 
commonly known as TIP-STRIPS.

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 these 
statements.\4\
---------------------------------------------------------------------------

    \4\ The Commission has modified the text of the summaries 
prepared by OCC.

---------------------------------------------------------------------------

[[Page 50031]]

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this rule change is to modify the definition of 
``Government securities'' found in Article I, Section 1 of OCC's By-
Laws to exclude Separate Trading of Registered Interest and Principal 
Securities (``STRIPS'') on Treasury Inflation Protected Securities 
(``TIPS''), commonly known as TIP-STRIPS. The reason for the proposed 
exclusion is the absence of a liquid secondary market for TIP-STRIPS.
    U.S. and Canadian Government securities are acceptable forms of 
collateral for margin and clearing fund purposes. OCC defines 
Government securities to be securities issued or guaranteed by the 
United States or Canadian Government or any other government acceptable 
to OCC. U.S. Government securities include bills, bonds, notes, TIPS, 
and STRIPS. The U.S. Government does not issue STRIPS, but it does 
guarantee their principal payments making them eligible as Government 
securities for purposes of OCC's By-Laws and Rules. The U.S. Government 
also does not issue TIP-STRIPS. Nonetheless, TIP-STRIPS fall within 
OCC's definition of Government securities as their principal is 
guaranteed by the U.S. Government.
    TIP-STRIPS were first issued in the late 1990's by an investment 
bank to meet the needs of certain clients. The securities are 
registered in the Federal Reserve Bank's book entry system. The 
securities have a de minimis circulation, and there currently is no 
active secondary market for them resulting in a lack of price 
transparency and liquidity and no reliable means by which to determine 
their value. OCC's ability to liquidate this form of collateral in the 
event of a clearing member default could be severely compromised as a 
result of these factors. Accordingly, OCC has concluded TIP-STRIPS 
should be excluded from the definition of Government securities. OCC is 
unaware of any instance in which a clearing member has pledged TIP-
STRIPS to meet its margin or clearing fund obligation. Therefore, OCC 
believes excluding TIP-STRIPS from the definition of Government 
securities enhances the protection of OCC, clearing members, and the 
investing public without imposing a burden on clearing members 
depositing Government securities to meet their margin and clearing fund 
obligations.
2. Statutory Basis
    OCC believes that the proposed rule change is consistent with 
Section 17A of the Act,\5\ as amended, because it assures the 
safeguarding of securities and funds which are in OCC's custody and 
control and provides for the protection of investors and the public 
interest. The proposed change meets these objectives by making a 
security with de minimis circulation, liquidity, and price transparency 
ineligible for deposit as a form of collateral. As OCC has not 
identified an instance in which a clearing member has deposited such 
security as collateral, the proposed change does not burden clearing 
members or adversely affect their ability to meet their obligations to 
OCC. The proposed rule change is not inconsistent with the existing 
rules of OCC, including any other rules proposed to be amended.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    OCC does not believe that the proposed rule change will have any 
impact or 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 relating to the proposed rule change were not and 
are not intended to be solicited or received. OCC will notify the 
Commission of any written comments received by OCC.

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

    The foregoing proposed rule change has become effective upon filing 
pursuant to Section 19(b)(3)(A)(i) of the Act \6\ and Rule 19b-4(f)(1) 
\7\ thereunder because the proposed rule change constitutes a stated 
policy, practice, or interpretation with respect to the meaning, 
administration, or enforcement of an existing rule. At any time within 
60 days of the filing of the proposed rule change, the Commission 
summarily may temporarily suspend such rule change if it appears to the 
Commission that such action is necessary or appropriate in the public 
interest, for the protection of investors, or otherwise in furtherance 
of the purposes of the Act.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A)(i).
    \7\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------

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 (https://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-OCC-2010-12 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-OCC-2010-12. 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 (https://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 Web site viewing and 
printing 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 filings also will be available for 
inspection and copying at the principal office of OCC and on OCC's Web 
site at https://www.optionsclearing.com/components/docs/legal/rules_and_bylaws/sr_occ_10_12.pdf.
    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-2010-12 
and should be submitted on or before September 7, 2010.


[[Page 50032]]


    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-20181 Filed 8-13-10; 8:45 am]
BILLING CODE 8010-01-P
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