Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Short Term Option Series Program, 8779-8780 [2014-03129]

Download as PDF Federal Register / Vol. 79, No. 30 / Thursday, February 13, 2014 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–71512; File No. SR–CBOE– 2014–013] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Short Term Option Series Program February 7, 2014. 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 February 4, 2014, Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘CBOE’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to make a minor clarification to the Short Term Option Series Program (the ‘‘Program’’ or ‘‘Weeklys’’) to clarify when series may be added in index option classes. The text of the proposed rule change is available on the Exchange’s Web site (https://www.cboe.com/AboutCBOE/ CBOELegalRegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. emcdonald on DSK67QTVN1PROD 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, 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 is proposing to make a minor change to its Weeklys Program for index option classes. More specifically, the Exchange is proposing to clarify when series of index option classes may be added in the Weeklys Program. The current rule states that ‘‘Short Term Option Series may be added up to, and including on, the Short Term Option Expiration Date for that options series.’’ 3 The Exchange is proposing to clarify the rule to state that Short Term Option Series may be added ‘‘up to, and including on, the last trading day for that option series.’’ The Exchange believes this clarification will take into account that index options may be A.M.-settled or P.M.-settled. For A.M.-settled options, the settlement occurs the morning of the expiration day, and thus, no trading occurs on expiration day in that series. Because of that, series may not actually be added on the expiration day for the series because it will be after the settlement value has been calculated for that index. The Exchange believes that the proposed language will take into account these A.M.-settled index option series along with P.M.-settled series as P.M.-settled options may be trading on expiration day because they are not settled until after the close of trading. Thus the proposed language, ‘‘on the last trading day’’ will accommodate both A.M.-settled and P.M.-settled index options. The Exchange believes that this clarification will more accurately describe when option series may be added in index option classes participating in the Weeklys program creating less confusion for Trading Permit Holders. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.4 Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 5 requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable Exchange Rule 24.9(a)(2)(A)(iv). U.S.C. 78f(b). 5 15 U.S.C. 78f(b)(5). principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 6 requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. In particular, the Exchange believes that the proposed clarification will protect investors and the marketplace by more accurately describing how the Weeklys Program operates with respect to index options. B. Self-Regulatory Organization’s Statement on Burden on Competition CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. More specifically, the Exchange does not believe the proposed change will impose any burden on intramarket competition or intermarket competition as it is merely attempting to better describe a current practice on the Exchange while providing more clarity to Trading Permit Holders. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: A. Significantly affect the protection of investors or the public interest; B. impose any significant burden on competition; and C. become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 7 and Rule 19b–4(f)(6) 8 thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may 3 See U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Mar<15>2010 18:44 Feb 12, 2014 Jkt 232001 6 Id. 4 15 1 15 7 15 PO 00000 Frm 00102 Fmt 4703 Sfmt 4703 8779 8 17 E:\FR\FM\13FEN1.SGM U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 13FEN1 8780 Federal Register / Vol. 79, No. 30 / Thursday, February 13, 2014 / Notices 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. If the Commission takes such action, the Commission will institute proceedings to determine whether the proposed rule change should be approved or disapproved. 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: emcdonald on DSK67QTVN1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– CBOE–2014–013 on the subject line. Paper Comments • Send paper comments 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–CBOE–2014–013. 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 VerDate Mar<15>2010 18:44 Feb 12, 2014 Jkt 232001 information that you wish to make available publicly. All submissions should refer to File Number SR–CBOE– 2014–013 and should be submitted on or before March 6, 2014. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–03129 Filed 2–12–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Centor Energy, Inc.; Order of Suspension of Trading February 11, 2014. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Centor Energy, Inc. (‘‘Centor’’) because of questions regarding the accuracy of assertions by Centor, and by others, in press releases and promotional materials concerning, among other things, the company’s assets, operations, and financial prospects. Centor is a Nevada company based in Florida. The company’s common stock is quoted on the OTC Link under the symbol CNTO. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed company is suspended for the period from 9:30 a.m. EST on February 11, 2014 through 11:59 p.m. EST on February 25, 2014. By the Commission. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–03259 Filed 2–11–14; 4:15 pm] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No. SSA–2014–0007] Privacy Act of 1974, As Amended: Proposed New Routine Use AGENCY: Social Security Administration (SSA). ACTION: 9 17 PO 00000 Proposed New Routine Use. CFR 200.30–3(a)(12). Frm 00103 Fmt 4703 Sfmt 4703 Pursuant to the Privacy Act of 1974, we are issuing public notice of our intent to add a new routine use to an existing system of records entitled: Master Files of Social Security Number (SSN) Holders and SSN Applications, (60–0058) (the Enumeration System). This system was last published in the Federal Register, 75 FR 82121 (Dec. 29, 2010); a revision to the routine uses was published, 78 FR 40,542 (July 5, 2013). The new routine use will enable us to verify information that the Corporation for National and Community Services (CNCS) requires in order to administer the National and Community Service Act (NCSA), 42 U.S.C. 12602. Specifically, CNSC will use the information we provide to verify statements made by an individual declaring that such individual is in compliance with section 146 of the NCSA. The new routine use is described below. We will rely on this routine use to disclose only those data elements from our system of records that CNCS has demonstrated are necessary for the administration of the NCSA. SUMMARY: We invite public comment on this proposal. In accordance with 5 U.S.C. 552a(e)(4) and (e)(11), the public is given a 30-day period in which to submit comments. Therefore, please submit any comments by March 17, 2014. DATES: The public, Office of Management and Budget (OMB), and Congress may comment on this publication by writing to the Executive Director, Office of Privacy and Disclosure, Office of the General Counsel, Social Security Administration, Room 617 Altmeyer Building, 6401 Security Boulevard, Baltimore, Maryland 21235–6401 or through the Federal e-Rulemaking Portal at https://www.regulations.gov. All comments we receive will be available for public inspection at the above address. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Anthony Tookes, Government Information Specialist, Privacy Implementation Division, Office of Privacy and Disclosure, Office of the General Counsel, Social Security Administration, Room 617 Altmeyer Building, 6401 Security Boulevard, Baltimore, Maryland 21235–6401, telephone: (410) 966–0097, Email: Anthony.Tookes@ssa.gov. In accordance with 5 U.S.C. 552a(r), we have provided a report to OMB and Congress on the proposed new routine use. E:\FR\FM\13FEN1.SGM 13FEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 30 (Thursday, February 13, 2014)]
[Notices]
[Pages 8779-8780]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-03129]

[[Page 8779]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-71512; File No. SR-CBOE-2014-013]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change Relating to the Short Term Option Series Program

February 7, 2014.
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 February 4, 2014, Chicago Board Options Exchange, Incorporated
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I, II, and III 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.
---------------------------------------------------------------------------

\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

The Exchange proposes to make a minor clarification to the Short
Term Option Series Program (the ``Program'' or ``Weeklys'') to clarify
when series may be added in index option classes. The text of the
proposed rule change is available on the Exchange's Web site (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's
Office of the Secretary, 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 is proposing to make a minor change to its Weeklys
Program for index option classes. More specifically, the Exchange is
proposing to clarify when series of index option classes may be added
in the Weeklys Program. The current rule states that ``Short Term
Option Series may be added up to, and including on, the Short Term
Option Expiration Date for that options series.'' \3\ The Exchange is
proposing to clarify the rule to state that Short Term Option Series
may be added ``up to, and including on, the last trading day for that
option series.''
---------------------------------------------------------------------------

\3\ See Exchange Rule 24.9(a)(2)(A)(iv).
---------------------------------------------------------------------------

The Exchange believes this clarification will take into account
that index options may be A.M.-settled or P.M.-settled. For A.M.-
settled options, the settlement occurs the morning of the expiration
day, and thus, no trading occurs on expiration day in that series.
Because of that, series may not actually be added on the expiration day
for the series because it will be after the settlement value has been
calculated for that index. The Exchange believes that the proposed
language will take into account these A.M.-settled index option series
along with P.M.-settled series as P.M.-settled options may be trading
on expiration day because they are not settled until after the close of
trading. Thus the proposed language, ``on the last trading day'' will
accommodate both A.M.-settled and P.M.-settled index options.
The Exchange believes that this clarification will more accurately
describe when option series may be added in index option classes
participating in the Weeklys program creating less confusion for
Trading Permit Holders.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\4\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \5\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \6\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------

\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
\6\ Id.
---------------------------------------------------------------------------

In particular, the Exchange believes that the proposed
clarification will protect investors and the marketplace by more
accurately describing how the Weeklys Program operates with respect to
index options.

B. Self-Regulatory Organization's Statement on Burden on Competition

CBOE does not believe that the proposed rule change will impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. More specifically, the Exchange
does not believe the proposed change will impose any burden on
intramarket competition or intermarket competition as it is merely
attempting to better describe a current practice on the Exchange while
providing more clarity to Trading Permit Holders.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

The Exchange neither solicited nor received comments on the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

Because the foregoing proposed rule change does not:
A. Significantly affect the protection of investors or the public
interest;
B. impose any significant burden on competition; and
C. become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the Act \7\ and
Rule 19b-4(f)(6) \8\ thereunder. At any time within 60 days of the
filing of the proposed rule change, the Commission summarily may

[[Page 8780]]

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. If the Commission takes such action, the
Commission will institute proceedings to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------

\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-CBOE-2014-013 on the subject line.

Paper Comments

Send paper comments 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-CBOE-2014-013. 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-2014-013 and should be
submitted on or before March 6, 2014.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-03129 Filed 2-12-14; 8:45 am]
BILLING CODE 8011-01-P

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