Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed Rule Change To Accommodate the Clearance of Relative Performance Options, 6648-6650 [2011-2570]
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6648
Federal Register / Vol. 76, No. 25 / Monday, February 7, 2011 / Notices
with an expiration of nine months or
greater.
In addition, if a technical failure or
limitation of a system of the Exchange
prevents a Market Maker from
maintaining, or prevents a Market
Maker from communicating to NOM,
timely and accurate quotes, the duration
of such failure or limitation shall not be
included in any of the calculations
under this subparagraph (i) with respect
to the affected quotes.
As a whole, the proposed
amendments are intended to improve
the quality of NOM markets, while
carefully considering the important role
of Market Makers in the NOM
marketplace. Adopting quotation spread
parameters and requiring registration
across the series of an option are
intended to encourage market making in
more series; at the same time, NASDAQ
recognizes the need to balance these
new, more burdensome obligations with
a lower series quoting percentage
requirement. This balance of obligations
should help to make the market better
for all participants. NASDAQ believes
that it has crafted a reasonable balance
in this proposal.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 16 in general, and furthers the
objectives of Section 6(b)(5) of the Act 17
in particular, in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in facilitating
transactions in securities, and to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. The Exchange believes
that the proposal is appropriate and
reasonable for Market Makers, similar to
the rules of other options exchanges (as
specified below) and should, at the
same time, enhance the quality of the
Exchange’s options markets.
emcdonald on DSK2BSOYB1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq 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.
16 15
17 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
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17:16 Feb 04, 2011
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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.
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 (i)
as the Commission may designate up to
90 days of such date 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
such proposed rule change, or
B. institute proceedings to determine
whether the proposed rule change
should be 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 Exchange
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–NASDAQ–2011–012 on the
subject line.
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–
NASDAQ–2011–012 and should be
submitted on or before February 28,
2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–2616 Filed 2–4–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63811; File No. SR–OCC–
2011–02]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Filing of Proposed Rule Change To
Accommodate the Clearance of
Relative Performance Options
February 1, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2
• Send paper comments in triplicate
notice is hereby given that on January
to Elizabeth M. Murphy, Secretary,
19, 2011, The Options Clearing
Securities and Exchange Commission,
Corporation (‘‘OCC’’) filed with the
100 F Street, NE., Washington, DC
Securities and Exchange Commission
20549–1090.
(‘‘Commission’’) the proposed rule
All submissions should refer to File
change as described in Items I and II
Number SR–NASDAQ–2011–012. This
below, which Items have been prepared
file number should be included on the
primarily by OCC. The Commission is
subject line if e-mail is used. To help the
publishing this notice to solicit
Commission process and review your
comments on the proposed rule change
comments more efficiently, please use
from interested persons.
only one method. The Commission will
post all comments on the Commission’s I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
Internet Web site (https://www.sec.gov/
the Proposed Rule Change
rules/sro.shtml). Copies of the
submission, all subsequent
The proposed rule change would
amendments, all written statements
accommodate the clearance of options
with respect to the proposed rule
on certain indexes measuring the
change that are filed with the
relative performance of one reference
Commission, and all written
communications relating to the
18 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
proposed rule change between the
2 17 CFR 240.19b–4.
Commission and any person, other than
Paper Comments
PO 00000
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07FEN1
Federal Register / Vol. 76, No. 25 / Monday, February 7, 2011 / Notices
security or reference index relative to a
second reference security or reference
index.
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.3
emcdonald on DSK2BSOYB1PROD 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
accommodate the clearance of options
on certain indexes measuring the
relative performance of one reference
security or reference index relative to a
second reference security or reference
index (‘‘Relative Performance Options’’).
A reference security may be an
exchange-traded fund (‘‘ETF’’). The
revised rules have been broadly drafted
to cover Alpha Options (described
below) and any similar product that
may be listed on any participant
exchange in the future.
NASDAQ OMX PHLX LLC (‘‘Phlx’’) is
proposing to list options (‘‘Alpha
Options’’) 4 on NASDAQ OMX Alpha
Indexes (‘‘Alpha Indexes’’), a family of
indexes developed by NASDAQ OMX
Group, Inc. (‘‘Nasdaq’’). Alpha Indexes
are calculated based on two ETFs or
other reference securities underlying
options that are also traded on Phlx. For
example, an Alpha Index may measure
the relative total return of two non-ETF
securities, two ETFs, or one ETF and
one non-ETF security (the first
component of each pair is referred to as
the ‘‘Target Component,’’ and the second
component is referred to as the
‘‘Benchmark Component’’). The Alpha
Index is calculated by measuring the
total return performance of the Target
Component relative to the total return
performance of the Benchmark
Component based upon prices of
transactions on the primary listing
exchange of each underlying
component. Each Alpha Index will
initially be set at 100.00. Alpha Options
3 The Commission has modified the text of the
summaries prepared by OCC.
4 See SR–Phlx–2010–176, Release No. 34–63575,
December 17, 2010.
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Jkt 223001
will be cash-settled, European-style
options. In the event of a corporate
event that eliminates one of the
underlying components of an Alpha
Index, Nasdaq will cease calculation of
the Alpha Index for that pair of
underlying components, and all
outstanding option positions will be
immediately settled at the last
disseminated price of that Alpha Index.
Relative Performance Options are
highly similar to other index options
cleared by OCC except for the identity
and nature of the underlying index.
Therefore, OCC believes that the
provisions of its By-Laws and Rules
governing index options, as they are
currently in effect, are generally
sufficient to support the clearance and
settlement of Relative Performance
Options. However, minor modifications
are needed to support Alpha Options
and other types of Relative Performance
Options that may be introduced in the
future. For example, OCC’s current
Rules do not account for the possibility
of an index having a negative value as
could occur for certain Relative
Performance Indexes. If this should ever
occur, the index value would be deemed
to be equal to zero or, because certain
systems may not accept a zero index
value, a near-zero positive amount.
Therefore, OCC proposes to modify its
By-Laws to provide for such potential
adjustment of the index value by either
the listing exchange or OCC.
In addition, OCC’s current By-Laws
do not account for the possibility that an
expiration date may be accelerated
when a reference security (i.e., an
individual reference security and not a
reference index) that is one of the
components of an underlying relative
performance index ceases to be
published as a result of a cash-out
merger or similar corporate event. If the
value of an underlying Relative
Performance Index ceases to be
published as a result of such an event,
the value of the overlying options would
become fixed. OCC therefore proposes
to modify its By-Laws to provide that
OCC will either accelerate or not
accelerate the expiration in consultation
with the relevant exchange on which
the index underlying a Relative
Performance Option is listed.
OCC believes the proposed rule
change is consistent with the
requirements of Section 17A of the Act 5
because it is designed to promote the
prompt and accurate clearance and
settlement of transactions in, including
the expiry of, Relative Performance
Options, and to foster cooperation and
coordination with persons engaged in
5 15
PO 00000
U.S.C. 78q–1.
Frm 00054
Fmt 4703
Sfmt 4703
6649
the clearance and settlement of such
transactions, to remove impediments to
and perfect the mechanism of a national
system for the prompt and accurate
clearance and settlement of such
transactions, and, in general, to protect
investors and the public interest. The
proposed rule change accomplishes this
purpose by applying substantially the
same rules and procedures to these
transactions as OCC applies to
transactions in other index options. The
proposed rule change is not inconsistent
with the existing rules of OCC,
including any 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 relating to the
proposed rule change have not 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
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.
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 Commissions 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–2011–02 on the
subject line.
E:\FR\FM\07FEN1.SGM
07FEN1
6650
Federal Register / Vol. 76, No. 25 / Monday, February 7, 2011 / Notices
Paper Comments
DEPARTMENT OF STATE
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
[Public Notice 7317]
All submissions should refer to File
Number SR–OCC–2011–02. 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 Section, 100 F Street, NE.,
Washington, DC 20549–1090, on official
business days between the hours of
10 a.m. and 3 p.m. Copies of such filings
will also 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_11_02.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–2011–02 and should
be submitted on or before February 22,
2011.
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Birth of
the Modern: Style and Identity in
Vienna 1900’’
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, and Delegation of
Authority No. 236–3 of August 28, 2000,
I hereby determine that the objects to be
included in the exhibition ‘‘Birth of the
Modern: Style and Identity in Vienna
1900,’’ imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to loan
agreements with the foreign owners or
custodians. I also determine that the
exhibition or display of the exhibit
objects at the Neue Galerie, New York,
New York, from on or about February
24, 2011, until on or about June 27,
2011, and at possible additional
exhibitions or venues yet to be
determined, is in the national interest.
I have ordered that Public Notice of
these Determinations be published in
the Federal Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Paul W.
Manning, Attorney-Adviser, Office of
the Legal Adviser, U.S. Department of
State (telephone: 202–632–6469). The
mailing address is U.S. Department of
State, SA–5, L/PD, Fifth Floor (Suite
5H03), Washington, DC 20522–0505.
SUMMARY:
Dated: January 31, 2011.
Ann Stock,
Assistant Secretary, Bureau of Educational
and Cultural Affairs, Department of State.
[FR Doc. 2011–2644 Filed 2–4–11; 8:45 am]
BILLING CODE 4710–05–P
[FR Doc. 2011–2570 Filed 2–4–11; 8:45 am]
emcdonald on DSK2BSOYB1PROD with NOTICES
For the Commission by the Division of
Trading and Markets, pursuant to delegated
authority.6
Elizabeth M. Murphy,
Secretary.
Culturally Significant Objects Imported
for Exhibition Determinations:
¨
‘‘Heinrich Kuhn’’
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Public Notice: 7318]
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
SUMMARY:
6 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
17:16 Feb 04, 2011
Jkt 223001
PO 00000
Frm 00055
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Sfmt 4703
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, and Delegation of
Authority No. 236–3 of August 28, 2000,
I hereby determine that the objects to be
included in the exhibition ‘‘Heinrich
¨
Kuhn,’’ imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to loan
agreements with the foreign owners or
custodians. I also determine that the
exhibition or display of the exhibit
objects at The Museum of Fine Arts,
Houston, Houston, TX, from on or about
March 6, 2011, until on or about May
30, 2011, and at possible additional
exhibitions or venues yet to be
determined, is in the national interest.
I have ordered that Public Notice of
these Determinations be published in
the Federal Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Julie
Simpson, Attorney-Adviser, Office of
the Legal Adviser, U.S. Department of
State (telephone: 202–632–6467). The
mailing address is U.S. Department of
State, SA–5, L/PD, Fifth Floor (Suite
5H03), Washington, DC 20522–0505.
Dated: January 31, 2011.
Ann Stock,
Assistant Secretary, Bureau of Educational
and Cultural Affairs, Department of State.
[FR Doc. 2011–2646 Filed 2–4–11; 8:45 am]
BILLING CODE 4710–05–P
DEPARTMENT OF STATE
[Public Notice: 7319]
Culturally Significant Objects Imported
for Exhibition Determinations:
‘‘Splendors of Faith/Scars of Conquest:
The Arts of the Missions of Northern
New Spain, 1600–1821’’
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236 of October 19, 1999, as
amended, and Delegation of Authority
No. 257 of April 15, 2003 [68 FR 19875],
I hereby determine that the object to be
included in the exhibition ‘‘Splendors of
Faith/Scars of Conquest: The Arts of the
Missions of Northern New Spain, 1600–
1821,’’ imported from abroad for
temporary exhibition within the United
SUMMARY:
E:\FR\FM\07FEN1.SGM
07FEN1
]]>Agencies
[Federal Register Volume 76, Number 25 (Monday, February 7, 2011)]
[Notices]
[Pages 6648-6650]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-2570]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63811; File No. SR-OCC-2011-02]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing of Proposed Rule Change To Accommodate the Clearance
of Relative Performance Options
February 1, 2011.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder \2\ notice is hereby given that
on January 19, 2011, The Options Clearing Corporation (``OCC'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared primarily by OCC. 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).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The proposed rule change would accommodate the clearance of options
on certain indexes measuring the relative performance of one reference
[[Page 6649]]
security or reference index relative to a second reference security or
reference index.
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.\3\
---------------------------------------------------------------------------
\3\ 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
The purpose of this rule change is to accommodate the clearance of
options on certain indexes measuring the relative performance of one
reference security or reference index relative to a second reference
security or reference index (``Relative Performance Options''). A
reference security may be an exchange-traded fund (``ETF''). The
revised rules have been broadly drafted to cover Alpha Options
(described below) and any similar product that may be listed on any
participant exchange in the future.
NASDAQ OMX PHLX LLC (``Phlx'') is proposing to list options
(``Alpha Options'') \4\ on NASDAQ OMX Alpha Indexes (``Alpha
Indexes''), a family of indexes developed by NASDAQ OMX Group, Inc.
(``Nasdaq''). Alpha Indexes are calculated based on two ETFs or other
reference securities underlying options that are also traded on Phlx.
For example, an Alpha Index may measure the relative total return of
two non-ETF securities, two ETFs, or one ETF and one non-ETF security
(the first component of each pair is referred to as the ``Target
Component,'' and the second component is referred to as the ``Benchmark
Component''). The Alpha Index is calculated by measuring the total
return performance of the Target Component relative to the total return
performance of the Benchmark Component based upon prices of
transactions on the primary listing exchange of each underlying
component. Each Alpha Index will initially be set at 100.00. Alpha
Options will be cash-settled, European-style options. In the event of a
corporate event that eliminates one of the underlying components of an
Alpha Index, Nasdaq will cease calculation of the Alpha Index for that
pair of underlying components, and all outstanding option positions
will be immediately settled at the last disseminated price of that
Alpha Index.
---------------------------------------------------------------------------
\4\ See SR-Phlx-2010-176, Release No. 34-63575, December 17,
2010.
---------------------------------------------------------------------------
Relative Performance Options are highly similar to other index
options cleared by OCC except for the identity and nature of the
underlying index. Therefore, OCC believes that the provisions of its
By-Laws and Rules governing index options, as they are currently in
effect, are generally sufficient to support the clearance and
settlement of Relative Performance Options. However, minor
modifications are needed to support Alpha Options and other types of
Relative Performance Options that may be introduced in the future. For
example, OCC's current Rules do not account for the possibility of an
index having a negative value as could occur for certain Relative
Performance Indexes. If this should ever occur, the index value would
be deemed to be equal to zero or, because certain systems may not
accept a zero index value, a near-zero positive amount. Therefore, OCC
proposes to modify its By-Laws to provide for such potential adjustment
of the index value by either the listing exchange or OCC.
In addition, OCC's current By-Laws do not account for the
possibility that an expiration date may be accelerated when a reference
security (i.e., an individual reference security and not a reference
index) that is one of the components of an underlying relative
performance index ceases to be published as a result of a cash-out
merger or similar corporate event. If the value of an underlying
Relative Performance Index ceases to be published as a result of such
an event, the value of the overlying options would become fixed. OCC
therefore proposes to modify its By-Laws to provide that OCC will
either accelerate or not accelerate the expiration in consultation with
the relevant exchange on which the index underlying a Relative
Performance Option is listed.
OCC believes the proposed rule change is consistent with the
requirements of Section 17A of the Act \5\ because it is designed to
promote the prompt and accurate clearance and settlement of
transactions in, including the expiry of, Relative Performance Options,
and to foster cooperation and coordination with persons engaged in the
clearance and settlement of such transactions, to remove impediments to
and perfect the mechanism of a national system for the prompt and
accurate clearance and settlement of such transactions, and, in
general, to protect investors and the public interest. The proposed
rule change accomplishes this purpose by applying substantially the
same rules and procedures to these transactions as OCC applies to
transactions in other index options. The proposed rule change is not
inconsistent with the existing rules of OCC, including any 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 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 relating to the proposed rule change have not 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
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.
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 Commissions 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-2011-02 on the subject line.
[[Page 6650]]
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-2011-02. 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 Section, 100 F Street,
NE., Washington, DC 20549-1090, on official business days between the
hours of 10 a.m. and 3 p.m. Copies of such filings will also 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_11_02.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-2011-02
and should be submitted on or before February 22, 2011.
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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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-2570 Filed 2-4-11; 8:45 am]
BILLING CODE 8011-01-P
