Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Withdrawal of Proposed Rule Change Related to the Liquidity Factor of CME's CDS Margin Methodology, 20160 [2013-07713]
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20160
Federal Register / Vol. 78, No. 64 / Wednesday, April 3, 2013 / Notices
Commission process and review your
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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
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those that may be withheld from the
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provisions of 5 U.S.C. 552, will be
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submitted on or before April 24, 2013.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–07724 Filed 4–2–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations;
Chicago Mercantile Exchange Inc.;
Notice of Withdrawal of Proposed Rule
Change Related to the Liquidity Factor
of CME’s CDS Margin Methodology
mstockstill on DSK4VPTVN1PROD with NOTICES
March 28, 2013.
On December 10, 2012, Chicago
Mercantile Exchange Inc. (‘‘CME’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 1 and Rule 19b–
4 thereunder,2 a proposed rule change
to make adjustments to the liquidity risk
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Mar<15>2010
17:13 Apr 02, 2013
Jkt 229001
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.5
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–07713 Filed 4–2–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69250; File No. SR–
NASDAQ–2013–055]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Modify the
Deadline for Submission of Claims
Under NASDAQ Rule 4626(b)(3)
March 28, 2013.
[Release No. 34–69254; File No. SR–CME–
2012–34]
14 17
factor component of its credit default
swap (‘‘CDS’’) margin model. The
proposed rule change would permit
CME to use an index portfolio’s market
risk rather than its gross notional as the
basis for determining the margins
associated with the liquidity risk factor
of CME’s CDS margin methodology.
Notice of the proposed rule change was
published in the Federal Register on
December 31, 2012.3 The Commission
did not receive comments on the
proposal.
On February 14, 2013, the
Commission extended the time period
in which to either approve the proposed
rule change, disapprove the proposed
rule change, or institute proceedings to
determine whether to disapprove the
proposed rule change to March 31,
2013.4 On March 28, 2013, CME
withdrew the proposed rule change
(SR–CME–2012–34).
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 March 26,
2013, The NASDAQ Stock Market LLC
(‘‘NASDAQ’’ or ‘‘Exchange’’) 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 Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
3 Securities Exchange Act Release No. 68529 (Dec.
21, 2012), 77 FR 77160 (Dec. 31, 2012).
4 Securities Exchange Act Release No. 68929 (Feb.
14, 2013), 78 FR 12127 (Feb. 21, 2013).
5 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
PO 00000
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I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to modify the
deadline for submission of claims under
NASDAQ Rule 4626(b)(3). The text of
the proposed rule change is available at
https://nasdaq.cchwallstreet.com/, at the
Exchange’s principal office, 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
Exchange 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
Exchange 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
On July 23, 2012, NASDAQ filed with
the Commission a proposed rule change
to amend NASDAQ Rule 4626
(Limitation of Liability) to establish a
one-time, voluntary accommodation
program for certain claims arising from
the initial public offering (‘‘IPO’’) of
Facebook, Inc. (‘‘FB’’) on May 18, 2012
(the ‘‘FB filing’’).3 On March 22, 2013,
the Commission approved the FB
filing.4 All claims under Rule
4626(b)(3), as adopted by the FB filing,
must be submitted in writing not later
than 7 days after formal approval of the
FB filing by the Commission. The FB
filing was approved on March 22, 2013,
and therefore the current deadline for
submission of claims is March 29, 2013.
Because the week of March 25, 2013
contains both the Passover and Good
Friday holidays, NASDAQ believes that
the deadline should be extended.
Accordingly, this proposed rule change
would extend the deadline for
submission of claims under the
amended rule until 11:59 p.m. ET on
April 8, 2013.
3 Securities Exchange Act Release No. 67507 (July
26, 2012), 77 FR 45706 (August 1, 2012) (SR–
NASDAQ–2012–090).
4 https://www.sec.gov/rules/sro/nasdaq/2013/3469216.pdf.
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]]>Agencies
[Federal Register Volume 78, Number 64 (Wednesday, April 3, 2013)]
[Notices]
[Page 20160]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-07713]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69254; File No. SR-CME-2012-34]
Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.;
Notice of Withdrawal of Proposed Rule Change Related to the Liquidity
Factor of CME's CDS Margin Methodology
March 28, 2013.
On December 10, 2012, Chicago Mercantile Exchange Inc. (``CME'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 \1\
and Rule 19b-4 thereunder,\2\ a proposed rule change to make
adjustments to the liquidity risk factor component of its credit
default swap (``CDS'') margin model. The proposed rule change would
permit CME to use an index portfolio's market risk rather than its
gross notional as the basis for determining the margins associated with
the liquidity risk factor of CME's CDS margin methodology. Notice of
the proposed rule change was published in the Federal Register on
December 31, 2012.\3\ The Commission did not receive comments on the
proposal.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 68529 (Dec. 21, 2012),
77 FR 77160 (Dec. 31, 2012).
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On February 14, 2013, the Commission extended the time period in
which to either approve the proposed rule change, disapprove the
proposed rule change, or institute proceedings to determine whether to
disapprove the proposed rule change to March 31, 2013.\4\ On March 28,
2013, CME withdrew the proposed rule change (SR-CME-2012-34).
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\4\ Securities Exchange Act Release No. 68929 (Feb. 14, 2013),
78 FR 12127 (Feb. 21, 2013).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\5\
---------------------------------------------------------------------------
\5\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-07713 Filed 4-2-13; 8:45 am]
BILLING CODE 8011-01-P
