Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend Rule 6.42, 42572 [2013-16933]

Download as PDF 42572 Federal Register / Vol. 78, No. 136 / Tuesday, July 16, 2013 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.31 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–16935 Filed 7–15–13; 8:45 am] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Kevin M. O’Neill, Deputy Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69961; File No. SR–CBOE– 2013–054] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Amend Rule 6.42 emcdonald on DSK67QTVN1PROD with NOTICES July 10, 2013. On May 13, 2013, Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘CBOE’’) 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 amend Exchange Rule 6.42. The proposed rule change was published for comment in the Federal Register on May 30, 2013.3 The Commission has not received comment letters on this 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 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 for this filing is July 14, 2013. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider this proposed rule change, which relates to minimum quoting increments for complex orders. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 31 17 designates August 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–CBOE–2013–054). CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 69629 (May 23, 2013), 78 FR 32496. 4 15 U.S.C. 78s(b)(2). 5 15 U.S.C. 78s(b)(2). [FR Doc. 2013–16933 Filed 7–15–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69956; File No. SR–CME– 2013–09] Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding Interest Rate Swap Clearing Changes July 10, 2013. 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 June 28, 2013, 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) of the Act 3 and Rule 19b–4(f)(4)(ii) 4 thereunder, so that the proposal was effective upon filing with the Commission. 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 CME is filing proposed rules changes that are limited to its business as a derivatives clearing organization offering interest rate swap (‘‘IRS’’) clearing services. More specifically, the proposed rule changes that are the subject of this filing would facilitate the addition of new IRS products for clearing and would also include certain changes to its existing IRS clearing offering. 1 15 VerDate Mar<15>2010 18:49 Jul 15, 2013 Jkt 229001 PO 00000 6 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(4)(ii). 1 15 Frm 00087 Fmt 4703 Sfmt 4703 The text of the proposed rule changes is also available at the CME’s Web site at https://www.cmegroup.com, at the principal office of CME, 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 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 CME is registered as a derivatives clearing organization with the Commodity Futures Trading Commission and currently offers clearing services for interest rate swaps (‘‘IRS’’). With this filing, CME proposes to accept the following swaps for clearing beginning July 1, 2013: • Fixed-Floating IRS denominated in Hong Kong Dollar (‘‘HKD’’), New Zealand Dollar (‘‘NZD’’) and Singapore Dollar (‘‘SGD’’) with Termination Dates up to 15 years. Additionally, CME will amend CME Rules 90002.F and 90102.E to add the following swap specifications to its existing offering of IRS: • OIS swaps with Termination Dates up to 30 years; • Variable notional amounts (amortizing, roller coaster and accreting) for fixed-floating and basis swaps; • Swaps with straight and spread compounding; and • New Zealand as an acceptable calendar adjustment for Business Day Conventions. The changes to CME Rule 90002.F reflect the addition of variable notional amounts. The changes to CME Rule 90102.E reflect the addition of certain Floating Rate Options for HKD, NZD and SGD swaps and certain addition OIS rates. The Manual of Operations for CME Cleared Interest Rate Swaps (the ‘‘IRS Manual’’) is also being updated in connection with these proposed changes described in this filing. The changes that are described in this filing are limited to CME’s IRS clearing offering and do not materially impact CME’s credit default swap clearing E:\FR\FM\16JYN1.SGM 16JYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 78, Number 136 (Tuesday, July 16, 2013)]
[Notices]
[Page 42572]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-16933]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69961; File No. SR-CBOE-2013-054]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Designation of a Longer Period for Commission 
Action on Proposed Rule Change To Amend Rule 6.42

July 10, 2013.
    On May 13, 2013, Chicago Board Options Exchange, Incorporated (the 
``Exchange'' or ``CBOE'') 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 amend Exchange Rule 6.42. The 
proposed rule change was published for comment in the Federal Register 
on May 30, 2013.\3\ The Commission has not received comment letters on 
this proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 69629 (May 23, 
2013), 78 FR 32496.
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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 for this filing is July 14, 2013. The Commission is extending 
this 45-day time period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider this proposed rule change, which relates to 
minimum quoting increments for complex orders.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates August 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-
CBOE-2013-054).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-16933 Filed 7-15-13; 8:45 am]
BILLING CODE 8011-01-P

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