Self-Regulatory Organizations; Chicago Mercantile Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee Schedule Applicable to OTC S&P GSCI-ER Swaps Contracts, 28417-28419 [2012-11532]
Download as PDF
<![CDATA[
Federal Register / Vol. 77, No. 93 / Monday, May 14, 2012 / Notices
emcdonald on DSK29S0YB1PROD with NOTICES
reasons discussion below, the
Commission is granting approval of the
proposed rule change.
II. Description
CME currently offers clearing services
for certain credit default swap (‘‘CDS’’)
index products. CME proposes to amend
certain of its rules that would generally
affect its CDS clearing offering and to
make corresponding amendments to
certain sections of its Manual of
Operations for CME Cleared Credit
Default Swaps (‘‘CDS Manual’’). The
rule amendments would modify CME’s
CDS guaranty fund allocation
methodology, end-of-day pricing
procedures, daily submission deadlines,
holiday accrual processing, and the
timeline for price alignment interest
(‘‘PAI’’) payment timeline.
The proposed changes to text in the
CME rulebook would amend current
requirements found in CME Rule
8H07.1 relating to the allocation of the
CDS guaranty fund requirements among
CDS clearing members. Currently, CME
calculates its guaranty fund monthly
and proportionally allocates to each
CDS clearing member a guaranty fund
requirement based on the CDS clearing
member’s 90-day trailing average of its
potential residual loss and 90-day
trailing average of its gross notional
open interest outstanding at CME. CME
is proposing to change the measurement
period from 90 days to 30 days so that
a CME clearing member’s CDS guaranty
fund requirement more quickly react to
the CDS clearing member’s current
activity and to align the measurement
period with the frequency of CDS
guaranty fund calculations.
The proposed changes to the text of
the CDS Manual would modify end-ofday pricing procedures including
procedures for CDS price submissions,
crossing, and auction procedures that
CME uses to arrive at the settlement
price for CDS contracts. Currently, CME
requires CDS clearing members to
submit price levels for the full term
structures of all indices and single-name
reference entities by seniority,
restructuring type, and currency eligible
for clearing. If a CDS clearing member
chooses to submit price levels on a
cleared contract in which it does not
hold open interest, CME hold that price
submission as tradable if a cross occurs
and the submitted instrument is
selected pursuant to the auction
process. However, under CME’s current
procedures, submitted price levels for
non-cleared instruments are never
actionable (i.e., tradable). CME is
proposing to change it CDS Manual to
require CDS clearing members to submit
price levels for all cleared contracts in
VerDate Mar<15>2010
14:46 May 11, 2012
Jkt 226001
which they or their customers hold
open interest. For indices where CDS
clearing members are required to submit
the full clearing eligible tenors of all
indices, CME will only cross CDS
clearing members on the tenors in
which the CDS clearing members or
their customers hold open interest. For
single-name CDS, CME will require CDS
clearing members to submit mid price
levels for the full term structures for the
0, 0.5-, 1-, 2-, 3-, 4-, 5-, 7- and 10-year
tenors. However, CME may cross the
CDS clearing members on any singlename reference entity in which the CDS
clearing members or their customer(s)
hold open interest irrespective of tenor.
CME is also amending its CDS Manual
to change (1) the daily submission
deadlines for CDS, (2) the CDS holiday
accrual processing, and (3) the PAI
payment timeline. With respect to
operations timelines and reports, CME
would move up the trade submission
deadline for current day trades from
7:59 p.m. ET to 6:59 p.m. ET. With
respect to position management, money
calculations, and collateral, the
revisions to the CDS Manual would
require on bank holidays in the country
of which the swap is denominated (e.g.,
Independence Day for U.S. Dollar
denominated CDS contracts), accrual
processing would be included in the
processing for the next business day and
would not occur on the relevant bank
holiday. In addition, CME would
calculate and pay PAI for CDS contracts
on a daily basis as opposed to monthly.
III. Discussion
Section 19(b)(2)(C) of the Act directs
the Commission to approve a proposed
rule change of a self-regulatory
organization if it finds that such
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder
applicable to such organization.4 In
particular, Section 17A(b)(3)(F) 5 of the
Act requires, among other things, that
the rules of a clearing agency be
designed to assure the safeguarding of
securities and funds which are in the
custody or control of the clearing agency
or for which it is responsible. By making
CDS clearing members’ guaranty fund
requirements be based on relatively
more recent histories, the proposed
amended rule governing guaranty fund
allocations should improve CME’s
ability to react to CDS market dynamics
and thereby should help CME better
assure the safeguarding of securities and
funds which are in its custody or
control or for which it is responsible. As
4 15
5 15
PO 00000
U.S.C. 78s(b)(2)(C).
U.S.C. 78q–1(B)(3)(F).
Frm 00069
Fmt 4703
Sfmt 4703
28417
such, the proposed rule change is
consistent with the requirements of
Section 17A(b)(3)(F) of the Act. Also,
the requirement that CDS clearing
members submit pricing for all tenors of
clearing-eligible indices and for the full
term structure for single-name CDS
should enhance CME’s ability to derive
end-of-day settlement prices. In
addition, because the operational
changes CME is proposing would
generally require clearing members to
made trade submissions more promptly,
require CME to calculate price
alignment more frequently, and clarify
when price accrual processing occurs in
the event of a bank holiday, such a
change should promote the prompt and
accurate clearance and settlement of
securities transactions and derivative
agreements, contracts, and transactions
and therefore is consistent with the
requirements of Section 17A(b)(3)(F) of
the Act.
IV. Conclusion
On the basis of the foregoing, the
Commission finds the proposal is
consistent with the requirements of the
Act and in particular with the
requirements of 17A of the Act and the
rules and regulations thereunder.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act, that the
proposed rule change (File No. SR–
CME–2012–06), be, and hereby is,
approved.6
For the Commission, by the Division of
Trading and markets, pursuant to delegated
authority.7
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–11533 Filed 5–11–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66940; File No. SR–CME–
2012–14]
Self-Regulatory Organizations;
Chicago Mercantile Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change To Amend the Fee Schedule
Applicable to OTC S&P GSCI–ER
Swaps Contracts
May 8, 2012.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
6 In approving the proposed rule change, the
Commission considered the proposal’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
7 17 CFR 200.30–3(a)(12).
E:\FR\FM\14MYN1.SGM
14MYN1
28418
Federal Register / Vol. 77, No. 93 / Monday, May 14, 2012 / Notices
(‘‘Act’’),1 and Rule 19b–4 2 thereunder,
notice is hereby given that on April 25,
2012, Chicago Mercantile Exchange, Inc.
(‘‘CME’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change described in
Items I, II and III, below, which Items
have been prepared primarily by CME.
CME filed the proposed rule change
pursuant to Section 19(b)(3)(A)(ii) 3 of
the Act and Rule 19b–4(f)(2) 4
thereunder, so that the proposed rule
change was effective upon filing with
the Commission. 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
CME is proposing to amend the fee
schedule that currently applies to its
OTC S&P GSCI–ER swaps clearing
offering.
emcdonald on DSK29S0YB1PROD 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,
CME 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. CME has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of these statements.5
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
CME currently offers clearing for
certain OTC swap products. CME
proposes to change the fee structure for
cleared swap contracts in S&P GSCI–ER,
S&P GSCI Gold ER, S&P GSCI Crude Oil
ER, S&P GSCI–ER 2 Month Forward and
S&P GSCI ER 3 Month Forward. As the
proposed changes relate to fees, they
became effective when they were filed
on April 25, 2012. CME applied the new
fee structure, however, only to contract
months with a trade date of May 1, 2012
or later.
Currently, fees for these OTC swap
products are assessed as a portion (.0005
annually) of the notional value of the
open positions in the contracts. This
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
5 The Commission has modified the text of the
summaries prepared by CME.
2 17
VerDate Mar<15>2010
14:46 May 11, 2012
Jkt 226001
contrasts with the flat fees CME charges
on futures and options on futures
products. CME believes the marketplace
would prefer a fee structure for OTC
swap products that charges fees on a per
contract basis. This type of fee structure
is also easier to support from an
operational standpoint. CME expects
this change will attract additional
interest and liquidity in these products.
CME has also certified the proposed
rule changes that are the subject of this
filing to its primary regulator, the
Commodity Futures Trading
Commission (‘‘CFTC’’), in CME
Submission 12–119.
The proposed CME rule amendments
establish or change a member due, fee
or other charge imposed by CME under
Section 19(b)(3)(A)(ii) of the Act and
Rule 19b–4(f)(2) thereunder. CME
believes that the proposed rule change
is consistent with the requirements of
the Act and the rules and regulations
thereunder, particularly, Section
17A(b)(3)(D),6 in that the proposed rule
change provides for the equitable
allocation of reasonable dues, fees, and
other charges among participants. CME
notes that it operates in a highly
competitive market in which market
participants can readily direct business
to competing venues.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CME does not believe the proposed
rule change will have any impact or
impose any burden on competition.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
CME has not solicited, and does not
intend to solicit, comments regarding
this proposed rule change. CME has not
received any unsolicited written
comments from interested parties. CME
will notify the Commission of any
written comments received by CME.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
was filed pursuant to Section
19(b)(3)(A)(ii) 7 of the Act and Rule 19b–
4(f)(2) 8 thereunder, and thus became
effective upon filing because it
establishes or changes a due, fee, or
other charge applicable only to a
member. At any time within 60 days
after the filing of the proposed rule
change, the Commission summarily may
6 15
U.S.C. 78q–1(b)(3)(D).
U.S.C. 78s(b)(3)(A)(ii).
8 17 CFR 240.19b–4(f)(2).
7 15
PO 00000
Frm 00070
Fmt 4703
Sfmt 4703
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 may be
submitted by using the Commission’s
Internet comment form (https://
www.sec.gov/rules/sro.shtml), or by
sending an email to rulecomment@sec.gov. Please include File
No. SR–CME–2012–14 on the subject
line.
• Paper comments should be sent 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–CME–2012–14. This file
number should be included on the
subject line if email 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
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at the principal
office of CME, and on CME’s Web site
at https://www.cmegroup.com/marketregulation/files/SEC_19b-4_12-14.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.
E:\FR\FM\14MYN1.SGM
14MYN1
Federal Register / Vol. 77, No. 93 / Monday, May 14, 2012 / Notices
All submissions should refer to File
Number SR–CME–2012–14 and should
be submitted on or before June 4, 2012.
DEPARTMENT OF STATE
For the Commission, by the Division of
Trading and markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Gustav
Klimt: The Magic of Line’’
[FR Doc. 2012–11532 Filed 5–11–12; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #13065 and #13066]
Hawaii Disaster Number HI–00026
U.S. Small Business
Administration.
ACTION: Amendment 1.
AGENCY:
This is an amendment of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Hawaii (FEMA–4062–DR),
dated 04/18/2012.
Incident: Severe Storms, Flooding,
and Landslides.
Incident Period: 03/03/2012 through
03/11/2012.
Effective Date: 05/04/2012.
Physical Loan Application Deadline
Date: 06/18/2012.
Economic Injury (EIDL) Loan
Application Deadline Date: 01/18/2013.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: The notice
of the President’s major disaster
declaration for Private Non-Profit
organizations in the State of HAWAII,
dated 04/18/2012, is hereby amended to
include the following areas as adversely
affected by the disaster.
Primary Counties: Maui.
All other information in the original
declaration remains unchanged.
emcdonald on DSK29S0YB1PROD with NOTICES
SUMMARY:
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
[Public Notice 7880]
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
(and, as appropriate, Delegation of
Authority No. 257 of April 15, 2003), I
hereby determine that the objects to be
included in the exhibition ‘‘Gustav
Klimt: The Magic of Line,’’ 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 J. Paul Getty
Museum, Los Angeles, California, from
on or about July 3, 2012 until on or
about September 23, 2012, 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: May 8, 2012.
J. Adam Ereli,
Principal Deputy Assistant Secretary, Bureau
of Educational and Cultural Affairs,
Department of State.
[FR Doc. 2012–11619 Filed 5–11–12; 8:45 am]
BILLING CODE 4710–05–P
[Public Notice 7881]
Culturally Significant Objects Imported
for Exhibition Determinations:
´
‘‘Gauguin, Cezanne, Matisse: Visions
of Arcadia’’
[FR Doc. 2012–11587 Filed 5–11–12; 8:45 am]
SUMMARY:
9 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
14:46 May 11, 2012
Jkt 226001
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
(and, as appropriate, Delegation of
Authority No. 257 of April 15, 2003), I
hereby determine that the objects to be
included in the exhibition ‘‘Gauguin,
´
Cezanne, Matisse: Visions of Arcadia,’’
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
Philadelphia Museum of Art,
Philadelphia, Pennsylvania, from on or
about June 20, 2012 until on or about
September 3, 2012, 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.
Dated: May 8, 2012.
J. Adam Ereli,
Principal Deputy Assistant Secretary, Bureau
of Educational and Cultural Affairs,
Department of State.
[FR Doc. 2012–11622 Filed 5–11–12; 8:45 am]
BILLING CODE 4710–05–P
DEPARTMENT OF STATE
[Public Notice: 7873]
Meetings of the United States-Peru
Environmental Affairs Council,
Environmental Cooperation
Commission and Sub-Committee on
Forest Sector Governance
Notice of meetings of the United
States-Peru Environmental Affairs
Council, Environmental Cooperation
Commission and Sub-Committee on
Forest Sector Governance, and request
for comments.
ACTION:
DEPARTMENT OF STATE
James E. Rivera,
Associate Administrator for Disaster
Assistance.
BILLING CODE 8025–01–P
28419
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.
PO 00000
Frm 00071
Fmt 4703
Sfmt 4703
The Department of State and
the Office of the United States Trade
Representative (USTR) are providing
notice that the United States and Peru
intend to hold the fifth meeting of the
Sub-Committee on Forest Sector
SUMMARY:
E:\FR\FM\14MYN1.SGM
14MYN1
]]>Agencies
[Federal Register Volume 77, Number 93 (Monday, May 14, 2012)]
[Notices]
[Pages 28417-28419]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-11532]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-66940; File No. SR-CME-2012-14]
Self-Regulatory Organizations; Chicago Mercantile Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the Fee Schedule Applicable to OTC S&P GSCI-ER Swaps Contracts
May 8, 2012.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
[[Page 28418]]
(``Act''),\1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on April 25, 2012, Chicago Mercantile Exchange, Inc. (``CME'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change described in Items I, II and III, below, which
Items have been prepared primarily by CME. CME filed the proposed rule
change pursuant to Section 19(b)(3)(A)(ii) \3\ of the Act and Rule 19b-
4(f)(2) \4\ thereunder, so that the proposed rule change was effective
upon filing with the Commission. 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).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CME is proposing to amend the fee schedule that currently applies
to its OTC S&P GSCI-ER swaps clearing offering.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CME 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. CME has prepared summaries, set forth in sections A, B,
and C below, of the most significant aspects of these statements.\5\
---------------------------------------------------------------------------
\5\ The Commission has modified the text of the summaries
prepared by CME.
---------------------------------------------------------------------------
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
CME currently offers clearing for certain OTC swap products. CME
proposes to change the fee structure for cleared swap contracts in S&P
GSCI-ER, S&P GSCI Gold ER, S&P GSCI Crude Oil ER, S&P GSCI-ER 2 Month
Forward and S&P GSCI ER 3 Month Forward. As the proposed changes relate
to fees, they became effective when they were filed on April 25, 2012.
CME applied the new fee structure, however, only to contract months
with a trade date of May 1, 2012 or later.
Currently, fees for these OTC swap products are assessed as a
portion (.0005 annually) of the notional value of the open positions in
the contracts. This contrasts with the flat fees CME charges on futures
and options on futures products. CME believes the marketplace would
prefer a fee structure for OTC swap products that charges fees on a per
contract basis. This type of fee structure is also easier to support
from an operational standpoint. CME expects this change will attract
additional interest and liquidity in these products.
CME has also certified the proposed rule changes that are the
subject of this filing to its primary regulator, the Commodity Futures
Trading Commission (``CFTC''), in CME Submission 12-119.
The proposed CME rule amendments establish or change a member due,
fee or other charge imposed by CME under Section 19(b)(3)(A)(ii) of the
Act and Rule 19b-4(f)(2) thereunder. CME believes that the proposed
rule change is consistent with the requirements of the Act and the
rules and regulations thereunder, particularly, Section
17A(b)(3)(D),\6\ in that the proposed rule change provides for the
equitable allocation of reasonable dues, fees, and other charges among
participants. CME notes that it operates in a highly competitive market
in which market participants can readily direct business to competing
venues.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78q-1(b)(3)(D).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CME does not believe the proposed rule change will have any impact
or impose any burden on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
CME has not solicited, and does not intend to solicit, comments
regarding this proposed rule change. CME has not received any
unsolicited written comments from interested parties. CME will notify
the Commission of any written comments received by CME.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change was filed pursuant to Section
19(b)(3)(A)(ii) \7\ of the Act and Rule 19b-4(f)(2) \8\ thereunder, and
thus became effective upon filing because it establishes or changes a
due, fee, or other charge applicable only to a member. At any time
within 60 days after 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(ii).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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 may be submitted by using the
Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml), or by sending an email to rule-comment@sec.gov. Please
include File No. SR-CME-2012-14 on the subject line.
Paper comments should be sent 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-CME-2012-14. This file
number should be included on the subject line if email 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
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of CME, and on CME's
Web site at https://www.cmegroup.com/market-regulation/files/SEC_19b-4_12-14.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.
[[Page 28419]]
All submissions should refer to File Number SR-CME-2012-14 and
should be submitted on or before June 4, 2012.
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and markets,
pursuant to delegated authority.\9\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-11532 Filed 5-11-12; 8:45 am]
BILLING CODE 8011-01-P
