Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Allow for Four Decimal Point Pricing for Block and Exchange for Physical (“EFPs”) Trades, 50276-50277 [2011-20576]

Download as PDF 50276 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Notices NUCLEAR REGULATORY COMMISSION [NRC–2011–0179; Docket Nos. 50–498 and 50–499] mstockstill on DSK4VPTVN1PROD with NOTICES STP Nuclear Operating Company, South Texas Project, Units 1 and 2; Notice of Withdrawal of Application for Amendment to Facility Operating License The U.S. Nuclear Regulatory Commission (the Commission or NRC) has granted the request of STP Nuclear Operating Company (the licensee) to withdraw its application dated November 22, 2010, for a proposed amendment to Facility Operating License Nos. NPF–76 and NPF–80 for the South Texas Project (STP), Units 1 and 2, located in Matagorda County, Texas. The proposed amendment would have revised the application of RiskManaged Technical Specifications to Technical Specification 3.7.7, ‘‘Control Room Makeup and Cleanup Filtration System.’’ The purpose of the change was to correct a misapplication of the Configuration Risk Management Program that is currently allowed by the Technical Specifications. The Commission had previously issued a Notice of Consideration of Issuance of Amendment published in the Federal Register on April 5, 2011 (76 FR 18803). However, by letter dated July 11, 2011, the licensee withdrew the proposed change. For further details with respect to this action, see the application for amendment dated November 22, 2010, and the licensee’s letter dated July 11, 2011, which withdrew the application for license amendment. Documents may be examined, and/or copied for a fee, at the NRC’s Public Document Room (PDR), located at One White Flint North, Public File Area O1–F21, 11555 Rockville Pike (first floor), Rockville, Maryland 20852. Publicly available documents created or received at the NRC are accessible electronically through the Agencywide Documents Access and Management System (ADAMS) in the NRC Library at https://www.nrc.gov/reading-rm/ adams.html. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC PDR Reference staff by telephone at 1–800–397–4209, or 301–415–4737 or by e-mail to pdr.resource@nrc.gov. Dated at Rockville, Maryland, this 4th day of August 2011. VerDate Mar<15>2010 16:37 Aug 11, 2011 Jkt 223001 For the Nuclear Regulatory Commission. Balwant K. Singal, Senior Project Manager, Plant Licensing Branch IV, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [FR Doc. 2011–20515 Filed 8–11–11; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65053; File No. SR–OC– 2011–01] Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Allow for Four Decimal Point Pricing for Block and Exchange for Physical (‘‘EFPs’’) Trades August 8, 2011. Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–7 under the Act,2 notice is hereby given that on August 2, 2011, OneChicago, LLC (‘‘OneChicago’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. OneChicago also has filed this proposed rule change with the Commodity Futures Trading Commission (‘‘CFTC’’). On July 26, 2011, OneChicago filed a written certification with the CFTC under Section 5c(c) of the Commodity Exchange Act (‘‘CEA’’).3 I. Self-Regulatory Organization’s Description of the Proposed Rule Change OneChicago is proposing to allow block trades and the futures component of EFP trades to be traded/priced in four decimals points. Regular trades (nonblock or non EFP) will continue to trade in only two decimal points. The text of the proposed rule change is available on the Exchange’s Web site at https:// www.onechicago.com, at the principal office of the Exchange, at the Commission’s Public Reference Room, and at the Commission’s Web site at https://www.sec.gov. 1 15 U.S.C. 78s(b)(7). CFR 240.19b–7. 3 7 U.S.C. 7a–2(c). II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, OneChicago 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. OneChicago has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose OneChicago is proposing to allow block trades and the futures component of EFP trades to be priced in four decimals points. The additional precision will aid in aligning these generally larger sized trades with the appropriate implied interest rate desired by the trade participants. The current two decimal pricing forces block transactions to be split into multiple transactions to arrive at the futures price that achieves the desired financing rate. This change will reduce the need to split block transactions. The change for EFPs will support reflecting the already four decimal point EFP price in the futures prices as opposed to the current practice of forcing it to be reflected in the stock price. Market participants and system providers will need to modify their technologies to accommodate the additional decimals points for block trades and EFPs. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act,4 in general, and furthers the objectives of Section 6(b)(5) of the Act, in particular, in that it is designed to foster cooperation and coordination with persons facilitating transactions in securities, and remove impediments to and perfect the mechanism of a free and open market and national market system. The proposed rule would foster cooperation with market participants by allowing them to align large-sized trades with their desired interest rate. Moreover, the proposed rule would alleviate the need to split transactions, thereby removing an impediment to and 2 17 PO 00000 Frm 00111 Fmt 4703 4 15 Sfmt 4703 E:\FR\FM\12AUN1.SGM U.S.C. 78f(b). 12AUN1 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Notices perfecting the mechanism of a free and open market. B. Self-Regulatory Organization’s Statement on Burden on Competition OneChicago does not believe that the proposed rule change will have an impact on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Comments on the OneChicago proposed rule change have not been solicited and none have been received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change will be effective upon filing and operational on August 15, 2011. At any time within 60 days of the date of effectiveness of the proposed rule change, the Commission, after consultation with the CFTC, may summarily abrogate the proposed rule change and require that the proposed rule change be refiled in accordance with the provisions of Section 19(b)(7) of the Act.5 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: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Elizabeth M. Murphy, Secretary. [FR Doc. 2011–20576 Filed 8–11–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65054; File No. SR–ISE– 2011–36] 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–OC–2011–01 on the subject line. Paper Comments mstockstill on DSK4VPTVN1PROD with NOTICES 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–OC– 2011–01 and should be submitted on or before September 2, 2011. • 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–OC–2011–01. 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 Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt the Content Outline for the Proprietary Traders Examination (Series 56) August 8, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on August 1, 2011, the International Securities Exchange, LLC (the ‘‘Exchange’’ or the ‘‘ISE’’) 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 by the selfregulatory organization. The Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change CFR 200.30–3(a)(73). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 5 15 U.S.C. 78s(b)(7). VerDate Mar<15>2010 16:37 Aug 11, 2011 Jkt 223001 pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Pursuant to the provisions of Section 19(b)(1) of the Act,5 the Exchange is filing with the Commission the content outline for the Proprietary Traders Qualification Examination (‘‘Series 56’’) program. ISE is not proposing any textual changes to the Rules of ISE. The text of the proposed rule change is available on the Exchange’s Internet Web site at https://www.ise.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization 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. The self-regulatory organization has prepared summaries, set forth in sections A, B and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Pursuant to Rule 15b7–1,6 promulgated under the Exchange Act,7 ‘‘No registered broker or dealer shall effect any transaction in * * * any security unless any natural person associated with such broker or dealer who effects or is involved in effecting such transaction is registered or approved in accordance with the standards of training, experience, competence, and other qualification standards * * * established by the rules of any national securities exchange * * * ’’ ISE Rule 313 sets forth the requirements for registration and qualification of associated persons. Specifically, ISE Rule 313 provides that 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 5 15 U.S.C. 78s(b)(1). 6 17 CFR 240.15b7–1. 7 15 U.S.C. 78a et seq. 4 17 6 17 PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 50277 E:\FR\FM\12AUN1.SGM 12AUN1

Agencies

[Federal Register Volume 76, Number 156 (Friday, August 12, 2011)]
[Notices]
[Pages 50276-50277]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-20576]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65053; File No. SR-OC-2011-01]


Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing 
and Immediate Effectiveness of a Proposed Rule Change to Allow for Four 
Decimal Point Pricing for Block and Exchange for Physical (``EFPs'') 
Trades

August 8, 2011.
    Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-7 under the Act,\2\ notice is hereby given 
that on August 2, 2011, OneChicago, LLC (``OneChicago'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``SEC'' or ``Commission'') the proposed rule change described in Items 
I, II, and III below, which Items have been prepared by the Exchange. 
The Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons. OneChicago also has filed 
this proposed rule change with the Commodity Futures Trading Commission 
(``CFTC''). On July 26, 2011, OneChicago filed a written certification 
with the CFTC under Section 5c(c) of the Commodity Exchange Act 
(``CEA'').\3\
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    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 17 CFR 240.19b-7.
    \3\ 7 U.S.C. 7a-2(c).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Description of the Proposed Rule 
Change

    OneChicago is proposing to allow block trades and the futures 
component of EFP trades to be traded/priced in four decimals points. 
Regular trades (non-block or non EFP) will continue to trade in only 
two decimal points. The text of the proposed rule change is available 
on the Exchange's Web site at https://www.onechicago.com, at the 
principal office of the Exchange, at the Commission's Public Reference 
Room, and at the Commission's Web site at https://www.sec.gov.

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

    In its filing with the Commission, OneChicago 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. OneChicago has prepared summaries, set forth in sections 
A, B, and C below, of the most significant aspects of such statements.

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

1. Purpose
    OneChicago is proposing to allow block trades and the futures 
component of EFP trades to be priced in four decimals points. The 
additional precision will aid in aligning these generally larger sized 
trades with the appropriate implied interest rate desired by the trade 
participants. The current two decimal pricing forces block transactions 
to be split into multiple transactions to arrive at the futures price 
that achieves the desired financing rate. This change will reduce the 
need to split block transactions. The change for EFPs will support 
reflecting the already four decimal point EFP price in the futures 
prices as opposed to the current practice of forcing it to be reflected 
in the stock price.
    Market participants and system providers will need to modify their 
technologies to accommodate the additional decimals points for block 
trades and EFPs.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Act,\4\ in general, and furthers the objectives of Section 6(b)(5) of 
the Act, in particular, in that it is designed to foster cooperation 
and coordination with persons facilitating transactions in securities, 
and remove impediments to and perfect the mechanism of a free and open 
market and national market system. The proposed rule would foster 
cooperation with market participants by allowing them to align large-
sized trades with their desired interest rate. Moreover, the proposed 
rule would alleviate the need to split transactions, thereby removing 
an impediment to and

[[Page 50277]]

perfecting the mechanism of a free and open market.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition
    OneChicago does not believe that the proposed rule change will have 
an impact on competition.

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

    Comments on the OneChicago proposed rule change have not been 
solicited and none have been received.

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

    The proposed rule change will be effective upon filing and 
operational on August 15, 2011. At any time within 60 days of the date 
of effectiveness of the proposed rule change, the Commission, after 
consultation with the CFTC, may summarily abrogate the proposed rule 
change and require that the proposed rule change be refiled in 
accordance with the provisions of Section 19(b)(7) of the Act.\5\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(7).
---------------------------------------------------------------------------

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-OC-2011-01 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-OC-2011-01. 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 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-OC-2011-01 and should be 
submitted on or before September 2, 2011.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Elizabeth M. Murphy,
Secretary.
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(73).
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[FR Doc. 2011-20576 Filed 8-11-11; 8:45 am]
BILLING CODE 8011-01-P
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