Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Related to the Liquidity Factor of CME's CDS Margin Methodology, 36625 [2013-14394]
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Federal Register / Vol. 78, No. 117 / Tuesday, June 18, 2013 / Notices
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–BATS–
2013–032 and should be submitted on
or before July 9, 2013.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.26
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–14450 Filed 6–17–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69743; File No. SR–CME–
2013–04]
Self-Regulatory Organizations;
Chicago Mercantile Exchange Inc.;
Notice of Designation of a Longer
Period for Commission Action on
Proposed Rule Change Related to the
Liquidity Factor of CME’s CDS Margin
Methodology
mstockstill on DSK4VPTVN1PROD with NOTICES
June 12, 2013.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–14394 Filed 6–17–13; 8:45 am]
BILLING CODE 8011–01–P
On April 9, 2013, 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 (‘‘Act’’) 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. CME
proposes 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
component. The proposed rule change
was published for comment in the
FEDERAL REGISTER on April 29, 2013.3
The Commission did not receive
comments on the proposal.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
26 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Securities Exchange Act Release No. 69435
(Apr. 23, 2013), 78 FR 25116 (Apr. 29, 2013) (SR–
CME–2013–04).
4 15 U.S.C. 78s(b)(2).
1 15
VerDate Mar<15>2010
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day from the
publication of notice of filing of this
proposed rule change is June 13, 2013.
The Commission is extending this 45day time period.
The Commission finds it is
appropriate to designate a longer period
within which to take action on the
proposed rule change so that it has
sufficient time to consider the proposed
rule change, which would implement a
significant change to CME’s CDS margin
methodology.
Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act,5
designates July 28, 2013, as the date by
which the Commission should either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–CME–2013–04).
16:52 Jun 17, 2013
Jkt 229001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–69739; File No. SR–MIAX–
2013–27]
Self-Regulatory Organizations; Miami
International Securities Exchange LLC;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Modify the Definition of
‘‘Attributable Order’’
June 12, 2013.
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 June 4,
2013, Miami International Securities
Exchange LLC (‘‘Exchange’’ or ‘‘MIAX’’)
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 self-regulatory
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(31).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
36625
organization. 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
The Exchange is filing a proposal to
amend Exchange Rule 516 to modify the
definition of ‘‘Attributable Order.’’
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.miaxoptions.com/filter/
wotitle/rule_filing, at MIAX’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
The Exchange received approval to be
registered as a national securities
exchange on December 3, 2012 3 and
commenced trading operations on
December 7, 2012. At that time, the
Exchange included in Exchange Rule
516 definitions of order types that the
Exchange intended to use after the
commencement of trading on the
Exchange. The preamble of Rule 516
notes that not all of the order types
listed and described in Rule 516 will be
initially available for use on the
Exchange. In addition, Rule 516
provides that the Exchange will issue a
Regulatory Circular listing which order
types, among the order types defined in
Rule 516, are available and that
additional Regulatory Circulars will be
issued as additional order types become
available for use on the Exchange.
The Attributable Order type, defined
in Rule 514(e), exists as one such order
type that was not originally available at
the commencement of trading on the
5 15
6 17
PO 00000
Frm 00120
Fmt 4703
3 See Securities Exchange Act Release No. 68341
(December 3, 2012) 77 FR 73089 (December 7, 2012)
(File No. 10–207).
Sfmt 4703
E:\FR\FM\18JNN1.SGM
18JNN1
]]>Agencies
[Federal Register Volume 78, Number 117 (Tuesday, June 18, 2013)]
[Notices]
[Page 36625]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-14394]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69743; File No. SR-CME-2013-04]
Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.;
Notice of Designation of a Longer Period for Commission Action on
Proposed Rule Change Related to the Liquidity Factor of CME's CDS
Margin Methodology
June 12, 2013.
On April 9, 2013, 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 (``Act'')
\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. CME proposes 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
component. The proposed rule change was published for comment in the
Federal Register on April 29, 2013.\3\ The Commission did not receive
comments on the proposal.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 69435 (Apr. 23, 2013),
78 FR 25116 (Apr. 29, 2013) (SR-CME-2013-04).
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Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day from the publication of notice of filing of this proposed rule
change is June 13, 2013. The Commission is extending this 45-day time
period.
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\4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
The Commission finds it is appropriate to designate a longer period
within which to take action on the proposed rule change so that it has
sufficient time to consider the proposed rule change, which would
implement a significant change to CME's CDS margin methodology.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Act,\5\ designates July 28, 2013, as the date by which the Commission
should either approve or disapprove, or institute proceedings to
determine whether to disapprove, the proposed rule change (File No. SR-
CME-2013-04).
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
Kevin M. O'Neill,
Deputy Secretary.
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(31).
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[FR Doc. 2013-14394 Filed 6-17-13; 8:45 am]
BILLING CODE 8011-01-P
