Canadian Derivatives Clearing Corporation; Order Approving Accelerated Distribution of an Amended Options Disclosure Document, 65537 [2010-26803]
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Federal Register / Vol. 75, No. 205 / Monday, October 25, 2010 / Notices
action is necessary or appropriate in the
public interest, for the protection of
investors or the maintenance of fair and
orderly markets, to remove impediments
to, and perfect the mechanisms of, a
national market system or otherwise in
furtherance of the purposes of the Act.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–26801 Filed 10–22–10; 8:45 am]
BILLING CODE 8011–01–P
III. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the amendment 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 4–546 on the subject line.
emcdonald on DSK2BSOYB1PROD with NOTICES
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 4–546. 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 filing
also will be available for inspection and
copying at the principal office of C2. 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 4–546 and should be submitted
on or before November 15, 2010.
VerDate Mar<15>2010
16:05 Oct 22, 2010
Jkt 223001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63125; File No. SR–ODD–
2010–02]
Canadian Derivatives Clearing
Corporation; Order Approving
Accelerated Distribution of an
Amended Options Disclosure
Document
October 18, 2010.
On September 28, 2010, the Canadian
Derivatives Clearing Corporation
(‘‘CDCC’’), on behalf of the Bourse de
´
´
Montreal, Inc. (‘‘Bourse de Montreal’’),
submitted to the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Rule 9b–1 under the
Securities Exchange Act of 1934
(‘‘Act’’),1 five definitive copies of an
amended options disclosure document
(‘‘ODD’’) that describes the risks and
characteristics of options traded on the
´
Bourse de Montreal.2 The CDCC has
8 17
CFR 200.30–3(a)(29).
CFR 240.9b–1.
2 The Commission initially reviewed the ODD in
1984. See Securities Exchange Act Release No.
21365 (October 2, 1984), 49 FR 39400 (October 5,
1984) (File No. SR–ODD–84–1). Since then, the
Commission has reviewed several amendments to
the ODD. See, e.g., Securities Exchange Act Release
Nos. 51124 (February 2, 2005), 70 FR 6740
(February 8, 2005) (File No. SR–ODD–2004–03)
(amending the ODD to reflect, among other things,
the name change from the S&P/TSE 60 Index to the
S&P/TSX 60 Index and to add an Annex to the ODD
setting forth the holidays and early closings of the
´
Bourse de Montreal); 44333 (May 21, 2001), 66 FR
29193 (May 29, 2001) (File No. SR–ODD–00–04)
(amending the ODD to reflect, among other things,
changes to the structure of the Canadian equity
markets and to provide a discussion of Enhanced
Capital Marketing); 37569 (August 14, 1996), 61 FR
43281 (August 21, 1996) (File No. SR–ODD–96–01)
(amending the ODD to reflect, among other things,
the name change from TCO to CDCC); 29033 (April
1, 1991), 56 FR 14407 (April 9, 1991) (File No. SR–
ODD–91–1) (amending the ODD to include, among
other things, references to Toronto Stock Exchange
35 Composite Index options); 24480 (May 19, 1987),
52 FR 20179 (May 29, 1987) (File No. SR–ODD–87–
2) (amending the ODD to include, among other
things, a discussion of Government of Canada
Treasury Bill Price Index options); 22349 (August
21, 1985), 50 FR 34956 (August 28, 1985) (File No.
SR–ODD–85–1) (amending the ODD to include,
among other things, a discussion of the risks and
uses of stock index and bond options); 51124
(February 1, 2005), 70 FR 6740 (February 8, 2005)
(File No. SR–ODD–2004–03) (amending the ODD to
include, among other things, the CDCC’s new
automatic exercise parameters for equity and bond
options) and 58172 (July 16, 2008), 73 FR 42840
(July 23, 2008) (File No. SR–ODD–2008–03)
(amending the ODD to include, among other things,
1 17
PO 00000
Frm 00092
Fmt 4703
Sfmt 9990
65537
revised the ODD to, among other things,
update the discussion of Canadian
federal income tax considerations
applicable to non-residents.
Rule 9b–1 under the Act provides that
an options market must file five
preliminary copies of an amended ODD
with the Commission at least 30 days
prior to the date when definitive copies
of the amended ODD are furnished to
customers, unless the Commission
determines otherwise, having due
regard to the adequacy of the
information disclosed and the public
interest and protection of investors.3
The Commission has reviewed the
amended ODD and finds, having due
regard to the adequacy of the
information disclosed, that it is
consistent with the protection of
investors and in the public interest to
allow the distribution of the amended
ODD as of the date of this order.4
It is therefore ordered, pursuant to
Rule 9b–1 under the Act,5 that the
distribution of the revised ODD (SR–
ODD–2010–02) as of the date of this is
order, is approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–26803 Filed 10–22–10; 8:45 am]
BILLING CODE 8011–01–P
the CDCC’s current automatic exercise parameters
for equity and bond options and to add an update
to the discussion of the treatment of adjustments in
the terms of equity options with respect to stock
splits, stock dividends or other stock distributions).
3 This provision is intended to permit the
Commission either to accelerate or extend the time
period in which definitive copies of a disclosure
document may be distributed to the public.
4 Rule 9b–1 under the Act provides that the use
of an ODD shall not be permitted unless the options
class to which the document relates is the subject
of an effective registration statement on Form S–20
under the Securities Act of 1933 or is exempt from
such registration. On April 5, 2010, the Commission
declared effective the CDCC’s most recent PostEffective Amendment to its Form S–20 registration
statement. See File No. 002–69458.
5 17 CFR 240.9b–1.
6 17 CFR 200.30–3(a)(39)(i).
E:\FR\FM\25OCN1.SGM
25OCN1
]]>Agencies
[Federal Register Volume 75, Number 205 (Monday, October 25, 2010)]
[Notices]
[Page 65537]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-26803]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63125; File No. SR-ODD-2010-02]
Canadian Derivatives Clearing Corporation; Order Approving
Accelerated Distribution of an Amended Options Disclosure Document
October 18, 2010.
On September 28, 2010, the Canadian Derivatives Clearing
Corporation (``CDCC''), on behalf of the Bourse de Montr[eacute]al,
Inc. (``Bourse de Montr[eacute]al''), submitted to the Securities and
Exchange Commission (``Commission''), pursuant to Rule 9b-1 under the
Securities Exchange Act of 1934 (``Act''),\1\ five definitive copies of
an amended options disclosure document (``ODD'') that describes the
risks and characteristics of options traded on the Bourse de
Montr[eacute]al.\2\ The CDCC has revised the ODD to, among other
things, update the discussion of Canadian federal income tax
considerations applicable to non-residents.
---------------------------------------------------------------------------
\1\ 17 CFR 240.9b-1.
\2\ The Commission initially reviewed the ODD in 1984. See
Securities Exchange Act Release No. 21365 (October 2, 1984), 49 FR
39400 (October 5, 1984) (File No. SR-ODD-84-1). Since then, the
Commission has reviewed several amendments to the ODD. See, e.g.,
Securities Exchange Act Release Nos. 51124 (February 2, 2005), 70 FR
6740 (February 8, 2005) (File No. SR-ODD-2004-03) (amending the ODD
to reflect, among other things, the name change from the S&P/TSE 60
Index to the S&P/TSX 60 Index and to add an Annex to the ODD setting
forth the holidays and early closings of the Bourse de
Montr[eacute]al); 44333 (May 21, 2001), 66 FR 29193 (May 29, 2001)
(File No. SR-ODD-00-04) (amending the ODD to reflect, among other
things, changes to the structure of the Canadian equity markets and
to provide a discussion of Enhanced Capital Marketing); 37569
(August 14, 1996), 61 FR 43281 (August 21, 1996) (File No. SR-ODD-
96-01) (amending the ODD to reflect, among other things, the name
change from TCO to CDCC); 29033 (April 1, 1991), 56 FR 14407 (April
9, 1991) (File No. SR-ODD-91-1) (amending the ODD to include, among
other things, references to Toronto Stock Exchange 35 Composite
Index options); 24480 (May 19, 1987), 52 FR 20179 (May 29, 1987)
(File No. SR-ODD-87-2) (amending the ODD to include, among other
things, a discussion of Government of Canada Treasury Bill Price
Index options); 22349 (August 21, 1985), 50 FR 34956 (August 28,
1985) (File No. SR-ODD-85-1) (amending the ODD to include, among
other things, a discussion of the risks and uses of stock index and
bond options); 51124 (February 1, 2005), 70 FR 6740 (February 8,
2005) (File No. SR-ODD-2004-03) (amending the ODD to include, among
other things, the CDCC's new automatic exercise parameters for
equity and bond options) and 58172 (July 16, 2008), 73 FR 42840
(July 23, 2008) (File No. SR-ODD-2008-03) (amending the ODD to
include, among other things, the CDCC's current automatic exercise
parameters for equity and bond options and to add an update to the
discussion of the treatment of adjustments in the terms of equity
options with respect to stock splits, stock dividends or other stock
distributions).
---------------------------------------------------------------------------
Rule 9b-1 under the Act provides that an options market must file
five preliminary copies of an amended ODD with the Commission at least
30 days prior to the date when definitive copies of the amended ODD are
furnished to customers, unless the Commission determines otherwise,
having due regard to the adequacy of the information disclosed and the
public interest and protection of investors.\3\
---------------------------------------------------------------------------
\3\ This provision is intended to permit the Commission either
to accelerate or extend the time period in which definitive copies
of a disclosure document may be distributed to the public.
---------------------------------------------------------------------------
The Commission has reviewed the amended ODD and finds, having due
regard to the adequacy of the information disclosed, that it is
consistent with the protection of investors and in the public interest
to allow the distribution of the amended ODD as of the date of this
order.\4\
---------------------------------------------------------------------------
\4\ Rule 9b-1 under the Act provides that the use of an ODD
shall not be permitted unless the options class to which the
document relates is the subject of an effective registration
statement on Form S-20 under the Securities Act of 1933 or is exempt
from such registration. On April 5, 2010, the Commission declared
effective the CDCC's most recent Post-Effective Amendment to its
Form S-20 registration statement. See File No. 002-69458.
---------------------------------------------------------------------------
It is therefore ordered, pursuant to Rule 9b-1 under the Act,\5\
that the distribution of the revised ODD (SR-ODD-2010-02) as of the
date of this is order, is approved.
---------------------------------------------------------------------------
\5\ 17 CFR 240.9b-1.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(39)(i).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-26803 Filed 10-22-10; 8:45 am]
BILLING CODE 8011-01-P
