Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Accommodate Index Futures That Are Settled in a Non-U.S. Currency, 68390-68392 [2010-28059]
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68390
Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest. In
particular, the filing makes transparent
uniform fees imposed for latency
measurement services.
In addition, the Exchange believes
that the proposed rule change is
consistent with the provisions of
Section 6 of the Act,7 in general, and
with Section 6(b)(4) of the Act,8 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 the use of Correlix
latency measurement services is entirely
voluntary and made available on a nondiscriminatory basis.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
BX does not believe that the proposed
rule change will result in any burden on
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act, as amended.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
mstockstill on DSKH9S0YB1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change is effective
upon filing pursuant to Section
19(b)(3)(A) of the Act and paragraph
(f)(6) of Rule 19b–4 thereunder, in that
the proposed rule change: (i) Does not
significantly affect the protection of
investors or the public interest; (ii) does
not impose any significant burden on
competition; and (iii) does not become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest; provided the selfregulatory organization has given the
Commission written notice of its intent
to file the proposed rule change, along
with a brief description and text of the
proposed rule change, at least five
business days prior to the date of filing
of the proposed rule change, or such
shorter time as designated by the
Commission.
7 15
8 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
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17:16 Nov 04, 2010
Jkt 223001
The Exchange has requested that the
Commission waive the 30-day operative
delay. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest. The
Commission notes that the Correlix
service and its fee sharing model have
been previously approved by the
Commission for other markets.9 Waiver
of the 30-day operative delay will
ensure that the free period is made
available to all interested parties
without delay. Accordingly, the
Commission designates the proposed
rule change operative upon filing with
the Commission.10
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. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
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–BX–2010–072 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–BX–2010–072. This file
number should be included on the
subject line if e-mail is used. To help the
9 See Exchange Act Release Nos. 62605 (July 30,
2010) (Approval of Correlix fee sharing for
NASDAQ Exchange), 62928 (September 17, 2010)
(Approval of Correlix fee sharing for EDGEA
Exchange), and 62929 (September 17, 2010)
(Approval of Correlix fee sharing for EDGEX
Exchange).
10 For the purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78(c)(f).
PO 00000
Frm 00076
Fmt 4703
Sfmt 4703
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 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–BX–
2010–072, and should be submitted on
or before November 26, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–27945 Filed 11–4–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63222; File No. SR–OCC–
2010–18]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To
Accommodate Index Futures That Are
Settled in a Non-U.S. Currency
November 1, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
October 22, 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
11 17
1 15
E:\FR\FM\05NON1.SGM
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
05NON1
Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices
primarily by OCC. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested parties.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The purpose of the proposed rule
change is to revise OCC’s By-Laws and
Rules to accommodate index futures
that are settled in a non-U.S. currency.
NYSE Liffe US, LLC (‘‘NYL’’) is
proposing to introduce for trading
futures contracts on certain broad-based
securities indexes which are settled in
Euros (‘‘Euro-Settled Futures’’). The
proposed rule amendments are drafted
generically to apply to other futures
contracts that are settled in a non-U.S.
currency and in a similar manner.
mstockstill on DSKH9S0YB1PROD with NOTICES
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.2
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Futures variation payments typically
are settled on each business day based
on a price established on the prior
business day. However, because of time
zone differences and the planned use of
accounts at North American and
European clearing banks, variation
settlements, including final variation
settlement, with respect to Euro-Settled
Futures will occur on the second
business day following the date as of
which the settlement value is
determined (i.e., a ‘‘T+2’’ basis).
Settlement times will vary depending
on the clearing bank through which
settlement is effected and in any case
will differ from those used for option
premiums.
To accommodate Euro-Settled
Futures, which will settle only on days
in which both OCC and the relevant
clearing banks are open for business,
OCC proposes to provide for a definition
of ‘‘business day’’ in respect of such
2 The Commission has modified the text of the
summaries prepared by OCC.
VerDate Mar<15>2010
17:16 Nov 04, 2010
Jkt 223001
futures which is different from that used
in OCC’s By-Laws, and to revise its rules
governing variation payments and add
an interpretation and policy to those
rules to accommodate the two-day
settlement cycle for Euro-Settled
Futures and other futures settled in a
currency other than the U.S. dollar. In
order to address the possibility that a
Clearing Member might fail to meet a
settlement obligation in a non-U.S.
currency and to avoid the need for OCC
to have credit facilities in non-U.S.
currencies, OCC reserves the right to
make settlement in the U.S. dollar
equivalent of the non-U.S. currency if
necessary, and, in addition to taking any
other actions authorized under its ByLaws and Rules, to draft the Clearing
Member’s U.S. dollar bank account for
equivalent funds, which payment will
be deemed to satisfy the Clearing
Member’s settlement obligation. In order
to discourage Clearing Members from
failing to settle in the non-U.S. currency
and thereby potentially imposing
hardship on other Clearing Members,
OCC reserves the right to fine or
discipline Clearing Members that fail to
settle.
In addition, OCC and NYL propose to
enter into Schedule C–2 under the
Agreement for Clearing and Settlement
Services, dated March 9, 2009, between
OCC and NYL to accommodate the
Euro-Settled Futures.
OCC believes that the proposed rule
change is consistent with the
requirements of Section 17A of the Act 3
and the rules and regulations
thereunder applicable to OCC because it
provides for the prompt and accurate
clearance and settlement of securities
transactions, ensures the protection of
investors and reduces unnecessary costs
and burdens on them and persons
facilitating transactions on their behalf.
It does so by accommodating the twoday settlement date for such futures
necessitated by the use of European
banks and time zone differences.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
OCC does not believe that the
proposed rule change will have any
impact on 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
No written comments relating to the
proposed rule change have been
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 rule change has become
effective upon filing pursuant to Section
19(b)(3)(A)(iv) of the Act 4 and Rule
19b–4(f)(4) 5 thereunder because it
effects a change in an existing service of
OCC that does not (i) adversely affect
the safeguarding of securities or funds
in OCC’s custody or control or for which
OCC is responsible or (ii) significantly
affect the respective rights or obligations
of OCC or persons using the service.
Euro-Settled Futures are futures within
the exclusive jurisdiction of the U.S.
Commodity Futures Trading
Commission (‘‘CFTC’’), and OCC will
therefore clear Euro-Settled Futures in
its capacity as a registered derivatives
clearing organization under the CFTC’s
regulatory jurisdiction. This rule change
will not affect the safeguarding of funds
or securities in OCC’s possession
because OCC will apply the same
procedures and safeguards to the
clearing of these contracts that it does to
the clearing of securities options and
security futures over which the
Commission has direct regulatory
authority. The respective rights and
obligations of OCC and Clearing
Members with respect to matters within
the Commission’s jurisdiction will be
unaffected.
At any time within sixty days of the
filing of such 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–OCC–2010–18 on the
subject line.
4 15
3 15
PO 00000
U.S.C. 78q–1.
Frm 00077
Fmt 4703
5 17
Sfmt 4703
68391
E:\FR\FM\05NON1.SGM
U.S.C. 78s(b)(3)(A)(iv).
CFR 240.19b–4(f)(4).
05NON1
68392
Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63217; File No. SR–OCC–
2010–14]
mstockstill on DSKH9S0YB1PROD with NOTICES
Self-Regulatory Organizations; The
Options Clearing Corporation; Order
Approving Proposed Rule Change To
All submissions should refer to File
Revise Its Rules To Expand the Forms
Number SR–OCC–2010–18. This file
of Collateral Eligible for Incorporation
number should be included on the
subject line if e-mail is used. To help the in the System for Theoretical Analysis
and Numerical Simulations Risk
Commission process and review your
Management Methodology
comments more efficiently, please use
only one method. The Commission will November 1, 2010.
post all comments on the Commission’s
I. Introduction
Internet Web site (https://www.sec.gov/
On August 25, 2010, The Options
rules/sro.shtml). Copies of the
Clearing Corporation (‘‘OCC’’) filed with
submission, all subsequent
the Securities and Exchange
amendments, all written statements
Commission (‘‘Commission’’) proposed
with respect to the proposed rule
rule change SR–OCC–2010–14 pursuant
changes that are filed with the
to Section 19(b)(1) of the Securities
Commission, and all written
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
communications relating to the
19b–4 thereunder.2 The proposed rule
proposed rule change between the
change was published in the Federal
Commission and any person, other than
Register on September 13, 2010. No
those that may be withheld from the
comment letters were received on the
public in accordance with the
proposal. This order approves the
provisions of 5 U.S.C. 552, will be
proposal.
available for Web site viewing and
II. Description
printing in the Commission’s Public
Reference Section, 100 F Street, NE.,
This rule change revises OCC’s Rules
Washington, DC 20549, on official
to expand the forms of collateral eligible
business days between the hours of
for incorporation in OCC’s System for
10 a.m. and 3 p.m. Copies of such filings Theoretical Analysis and Numerical
also will be available for inspection and Simulations (‘‘STANS’’) risk
management methodology.
copying at the principal office of OCC
The rule change alters Interpretation
and on OCC’s Web site at https://
and Policy .06 to Rule 601 in connection
www.theocc.com. All comments
received will be posted without change; with expanding the forms of collateral
eligible for incorporation in the STANS
the Commission does not edit personal
risk management methodology. Prior to
identifying information from
the rule change, OCC incorporated
submissions. You should submit only
common stock and ETFs 3 in the STANS
information that you wish to make
margin calculation process.4 When OCC
available publicly. All submissions
began including common stock and
should refer to File Number SR–OCC–
ETFs in the STANS margin calculation
2010–18 and should be submitted on or process, it noted its belief that the
before November 26, 2010.
procedure would more accurately
measure risk in Clearing Members’
For the Commission by the Division of
Trading and Markets, pursuant to delegated
accounts and thereby permit OCC to
authority.6
more precisely set margin requirements
to reflect that risk. For those same
Florence E. Harmon,
reasons, OCC will now incorporate
Deputy Secretary.
certain fixed-income, ‘‘government
[FR Doc. 2010–28059 Filed 11–4–10; 8:45 am]
securities’’ into the STANS margin
BILLING CODE 8011–01–P
calculation process.
The specific amendments to OCC’s
Rules that facilitate incorporation of
government securities into the STANS
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 ETFs fall within the definition of ‘‘fund shares’’
as that term is defined in Article I, Section 1 of
OCC’s By-Laws.
4 Securities Exchange Act Release No. 34–58158
(July 15, 2008), 73 FR 42626
(July 22, 2008) (SR–OCC–2007–20).
margin calculation process can be found
at https://www.optionsclearing.com/
components/docs/legal/
rules_and_bylaws/sr_occ_10_14.pdf.
OCC will now incorporate in phases
certain ‘‘government securities’’ into the
STANS margin calculation beginning
with U.S. Government securities.5
Treasury Inflation Protected Securities
and callable U.S Treasury Securities
will be excluded from the initial phase,
as will be Canadian government
securities and GSE debt securities.6
Currently, government securities
deposited as collateral to satisfy margin
requirements are priced on a nightly
basis and are assigned a value equal to
their current market value less an
applicable haircut based on the term to
maturity. While this method of valuing
collateral has generally served OCC well
in the past, OCC believes analyzing
cleared positions and margin assets as a
single portfolio using STANS provides a
more accurate valuation of the Clearing
Members’ securities deposited as
collateral in relation to other account
positions. As when OCC began
including common stocks and ETFs in
the STANS calculation, OCC believes
phasing in government securities will
align risk-management techniques
utilized to manage market risk of
cleared positions, for example for
Treasury futures contracts, with those
techniques used to value margin
deposits.
The inclusion of government
securities into STANS will be
implemented using an approach similar
to that used when common stocks and
ETFs were added into STANS. The
value of the securities deposited in a
Clearing Member’s account will be
determined along with the risk on the
margin assets on a portfolio basis with
reference to the volatility and
correlation of each deposited security to
the other positions in the account.
Given the conservative nature of the
current haircuts applied to deposits of
government securities, OCC anticipates
a modest increase in their collateral
valuation upon the implementation of
this change.
As a part of this rule change, OCC will
apply a portfolio specific adjustment
factor when determining whether there
is sufficient margin excess in an
account. This will enable OCC to release
margin collateral to a Clearing Member
on an intraday basis. The adjustment
factor is account and security specific
2 17
6 17
CFR 200.30–3(a)(12).
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17:16 Nov 04, 2010
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Sfmt 4703
5 This would include but would not be limited to
Government securities and GSE debt securities.
6 The government securities being initially
excluded will be evaluated by OCC for possible
inclusion in STANS as appropriate models are
developed.
E:\FR\FM\05NON1.SGM
05NON1
]]>Agencies
[Federal Register Volume 75, Number 214 (Friday, November 5, 2010)]
[Notices]
[Pages 68390-68392]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-28059]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63222; File No. SR-OCC-2010-18]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Accommodate Index Futures That Are Settled in a Non-U.S. Currency
November 1, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on October 22, 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
[[Page 68391]]
primarily by OCC. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The purpose of the proposed rule change is to revise OCC's By-Laws
and Rules to accommodate index futures that are settled in a non-U.S.
currency. NYSE Liffe US, LLC (``NYL'') is proposing to introduce for
trading futures contracts on certain broad-based securities indexes
which are settled in Euros (``Euro-Settled Futures''). The proposed
rule amendments are drafted generically to apply to other futures
contracts that are settled in a non-U.S. currency and in a similar
manner.
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.\2\
---------------------------------------------------------------------------
\2\ The Commission has modified the text of the summaries
prepared by OCC.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
Futures variation payments typically are settled on each business
day based on a price established on the prior business day. However,
because of time zone differences and the planned use of accounts at
North American and European clearing banks, variation settlements,
including final variation settlement, with respect to Euro-Settled
Futures will occur on the second business day following the date as of
which the settlement value is determined (i.e., a ``T+2'' basis).
Settlement times will vary depending on the clearing bank through which
settlement is effected and in any case will differ from those used for
option premiums.
To accommodate Euro-Settled Futures, which will settle only on days
in which both OCC and the relevant clearing banks are open for
business, OCC proposes to provide for a definition of ``business day''
in respect of such futures which is different from that used in OCC's
By-Laws, and to revise its rules governing variation payments and add
an interpretation and policy to those rules to accommodate the two-day
settlement cycle for Euro-Settled Futures and other futures settled in
a currency other than the U.S. dollar. In order to address the
possibility that a Clearing Member might fail to meet a settlement
obligation in a non-U.S. currency and to avoid the need for OCC to have
credit facilities in non-U.S. currencies, OCC reserves the right to
make settlement in the U.S. dollar equivalent of the non-U.S. currency
if necessary, and, in addition to taking any other actions authorized
under its By-Laws and Rules, to draft the Clearing Member's U.S. dollar
bank account for equivalent funds, which payment will be deemed to
satisfy the Clearing Member's settlement obligation. In order to
discourage Clearing Members from failing to settle in the non-U.S.
currency and thereby potentially imposing hardship on other Clearing
Members, OCC reserves the right to fine or discipline Clearing Members
that fail to settle.
In addition, OCC and NYL propose to enter into Schedule C-2 under
the Agreement for Clearing and Settlement Services, dated March 9,
2009, between OCC and NYL to accommodate the Euro-Settled Futures.
OCC believes that the proposed rule change is consistent with the
requirements of Section 17A of the Act \3\ and the rules and
regulations thereunder applicable to OCC because it provides for the
prompt and accurate clearance and settlement of securities
transactions, ensures the protection of investors and reduces
unnecessary costs and burdens on them and persons facilitating
transactions on their behalf. It does so by accommodating the two-day
settlement date for such futures necessitated by the use of European
banks and time zone differences.
---------------------------------------------------------------------------
\3\ 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 on 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
No written comments relating to the proposed rule change have been
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 rule change has become effective upon filing pursuant
to Section 19(b)(3)(A)(iv) of the Act \4\ and Rule 19b-4(f)(4) \5\
thereunder because it effects a change in an existing service of OCC
that does not (i) adversely affect the safeguarding of securities or
funds in OCC's custody or control or for which OCC is responsible or
(ii) significantly affect the respective rights or obligations of OCC
or persons using the service. Euro-Settled Futures are futures within
the exclusive jurisdiction of the U.S. Commodity Futures Trading
Commission (``CFTC''), and OCC will therefore clear Euro-Settled
Futures in its capacity as a registered derivatives clearing
organization under the CFTC's regulatory jurisdiction. This rule change
will not affect the safeguarding of funds or securities in OCC's
possession because OCC will apply the same procedures and safeguards to
the clearing of these contracts that it does to the clearing of
securities options and security futures over which the Commission has
direct regulatory authority. The respective rights and obligations of
OCC and Clearing Members with respect to matters within the
Commission's jurisdiction will be unaffected.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(3)(A)(iv).
\5\ 17 CFR 240.19b-4(f)(4).
---------------------------------------------------------------------------
At any time within sixty days of the filing of such 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 rule-comments@sec.gov. Please include
File Number SR-OCC-2010-18 on the subject line.
[[Page 68392]]
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-2010-18. 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 changes 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 Section, 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.theocc.com. 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-2010-18 and should be submitted on or before
November 26, 2010.
For the Commission by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-28059 Filed 11-4-10; 8:45 am]
BILLING CODE 8011-01-P
