Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Extension of Review Period of Advance Notice To Establish the Legal and Operational Framework for Providing Central Clearing of OTC Index Options on the S&P 500 Index That Are Negotiated Bilaterally in the Over-the-Counter Market and Submitted to OCC for Clearance, 66196 [2012-26854]

Download as PDF 66196 Federal Register / Vol. 77, No. 213 / Friday, November 2, 2012 / Notices Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. SECURITIES AND EXCHANGE COMMISSION All submissions should refer to File Number SR–CBOE–2012–099. 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 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–CBOE–2012–099 and should be submitted on or before November 23, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–26853 Filed 11–1–12; 8:45 am] emcdonald on DSK67QTVN1PROD with NOTICES BILLING CODE 8011–01–P [Release No. 34–68111; File No. SR–OCC– 2012–14] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Extension of Review Period of Advance Notice To Establish the Legal and Operational Framework for Providing Central Clearing of OTC Index Options on the S&P 500 Index That Are Negotiated Bilaterally in the Over-the-Counter Market and Submitted to OCC for Clearance October 26, 2012. On August 30, 2012, the Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change and Advance Notice SR–OCC–2012–14 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder.2 The proposed rule change was published for comment in the Federal Register on September 18, 2012 3 and the Advance Notice was published for comment in the Federal Register on September 27, 2012.4 Section 806(e)(1)(G) of the Payment, Clearing, and Settlement Supervision Act of 2010 (‘‘Clearing Supervision Act’’) 5 provides that changes proposed in an Advance Notice may be implemented if the Commission does not object to the proposed changes within 60 days of the later of (i) the date that the Advance Notice was filed with the Commission or (ii) the date that any additional information requested by the Commission is received, unless extended as described below. The date that is 60 days from the time of the filing is October 29, 2012. Pursuant to Section 806(e)(1)(H) of the Clearing Supervision Act,6 the Commission may extend the review period for an additional 60 days if the proposed changes raise novel or complex issues, subject to the Commission providing the clearing agency with prompt written notice of the extension. The Commission finds it is appropriate to extend the review period for the Advance Notice. In particular, the Advance Notice is novel because 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 67835 (September 12, 2012), 77 FR 57602 (September 18, 2012). 4 Securities Exchange Act Release No. 67906 (September 21, 2012), 77 FR 59431 (September 27, 2012). 5 12 U.S.C. 5465(e)(1)(G). 6 12 U.S.C. 5465(e)(1)(H). 2 17 13 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 12:56 Nov 01, 2012 Jkt 229001 PO 00000 Frm 00019 Fmt 4703 Sfmt 4703 OCC does not currently provide clearing services for OTC products and because no registered clearing agency currently provides clearing services for OTC S&P 500 Index options. Accordingly, the Commission, pursuant to 806(e)(1)(H) of the Clearing Supervision Act,7 extends the review period for an additional 60 days so that the Commission shall have until December 28, 2012 to issue an objection or non-objection of the Advance Notice (File No. SR–OCC–2012–14). By the Commission. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–26854 Filed 11–1–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–68113; File No. SR–OCC– 2012–15] Self-Regulatory Organizations; Options Clearing Corporation; Order Approving Proposed Rule Change Relating to Financial Reporting by Canadian Clearing Members October 26, 2012. I. Introduction On September 5, 2012, the Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change SR–OCC– 2012–15 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder.2 The proposed rule change was published for comment in the Federal Register on September 19, 2012.3 The Commission received no comment letters. This order approves the proposed rule change. II. Description The proposed rule change would make technical ‘‘housekeeping’’ changes to OCC’s By-Laws and Rules relating to financial reporting by Canadian clearing members to reflect the Investment Industry Regulatory Organization of Canada’s (‘‘IIROC’’) adoption of the International Financial Reporting Standards. OCC Rule 310, through crossreferences to interpretive provisions of OCC Rule 306—Financial Reports and 7 Id. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 67851 (September 13, 2012), 77 FR 58194 (September 19, 2012). 2 17 E:\FR\FM\02NON1.SGM 02NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 213 (Friday, November 2, 2012)]
[Notices]
[Page 66196]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-26854]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68111; File No. SR-OCC-2012-14]


Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Extension of Review Period of Advance Notice To Establish the 
Legal and Operational Framework for Providing Central Clearing of OTC 
Index Options on the S&P 500 Index That Are Negotiated Bilaterally in 
the Over-the-Counter Market and Submitted to OCC for Clearance

October 26, 2012.
    On August 30, 2012, the Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change and Advance Notice SR-OCC-2012-14 pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder.\2\ The proposed rule change was published 
for comment in the Federal Register on September 18, 2012 \3\ and the 
Advance Notice was published for comment in the Federal Register on 
September 27, 2012.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 67835 (September 12, 
2012), 77 FR 57602 (September 18, 2012).
    \4\ Securities Exchange Act Release No. 67906 (September 21, 
2012), 77 FR 59431 (September 27, 2012).
---------------------------------------------------------------------------

    Section 806(e)(1)(G) of the Payment, Clearing, and Settlement 
Supervision Act of 2010 (``Clearing Supervision Act'') \5\ provides 
that changes proposed in an Advance Notice may be implemented if the 
Commission does not object to the proposed changes within 60 days of 
the later of (i) the date that the Advance Notice was filed with the 
Commission or (ii) the date that any additional information requested 
by the Commission is received, unless extended as described below. The 
date that is 60 days from the time of the filing is October 29, 2012.
---------------------------------------------------------------------------

    \5\ 12 U.S.C. 5465(e)(1)(G).
---------------------------------------------------------------------------

    Pursuant to Section 806(e)(1)(H) of the Clearing Supervision 
Act,\6\ the Commission may extend the review period for an additional 
60 days if the proposed changes raise novel or complex issues, subject 
to the Commission providing the clearing agency with prompt written 
notice of the extension.
---------------------------------------------------------------------------

    \6\ 12 U.S.C. 5465(e)(1)(H).
---------------------------------------------------------------------------

    The Commission finds it is appropriate to extend the review period 
for the Advance Notice. In particular, the Advance Notice is novel 
because OCC does not currently provide clearing services for OTC 
products and because no registered clearing agency currently provides 
clearing services for OTC S&P 500 Index options.
    Accordingly, the Commission, pursuant to 806(e)(1)(H) of the 
Clearing Supervision Act,\7\ extends the review period for an 
additional 60 days so that the Commission shall have until December 28, 
2012 to issue an objection or non-objection of the Advance Notice (File 
No. SR-OCC-2012-14).
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    \7\ Id.

    By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-26854 Filed 11-1-12; 8:45 am]
BILLING CODE 8011-01-P

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