Canadian Derivatives Clearing Corporation; Order Approving Accelerated Distribution of an Amended Options Disclosure Document, 64640 [2014-25782]
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64640
Federal Register / Vol. 79, No. 210 / Thursday, October 30, 2014 / Notices
the Fund to purchase shares of other
investment companies for short-term
cash management purposes.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–25781 Filed 10–29–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73426; File No. SR–ODD–
2014–01]
Canadian Derivatives Clearing
Corporation; Order Approving
Accelerated Distribution of an
Amended Options Disclosure
Document
October 24, 2014.
On October 3, 2014, the Canadian
Derivatives Clearing Corporation
(‘‘CDCC’’), on behalf of the Bourse de
´
´
Montreal, Inc. (‘‘Bourse de Montreal’’),
submitted to the Securities and
Exchange Commission (‘‘Commission’’),
pursuant to Rule 9b–1 under the
Securities Exchange Act of 1934
(‘‘Act’’),1 five definitive copies of an
amended options disclosure document
(‘‘ODD’’) that describes the risks and
characteristics of options traded on the
´
Bourse de Montreal.2 The CDCC has
revised the ODD to, among other things,
modify certain expiration dates of
options and clarify that bond options do
not currently trade on the Bourse de
´
Montreal.
Rule 9b–1 under the Act provides that
an options market must file five
preliminary copies of an amended ODD
with the Commission at least 30 days
prior to the date when definitive copies
of the amended ODD are furnished to
customers, unless the Commission
determines otherwise, having due
regard to the adequacy of the
information disclosed and the public
interest and protection of investors.3
The Commission has reviewed the
amended ODD and finds, having due
regard to the adequacy of the
information disclosed, that it is
consistent with the protection of
investors and in the public interest to
allow the distribution of the amended
ODD as of the date of this order.4
It is therefore ordered, pursuant to
Rule 9b–1 under the Act,5 that the
distribution of the revised ODD (SR–
ODD–2014–01) as of the date of this is
order, is approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–25782 Filed 10–29–14; 8:45 am]
tkelley on DSK3SPTVN1PROD with NOTICES
1 17
CFR 240.9b–1.
2 The Commission initially reviewed the ODD in
1984. See Securities Exchange Act Release No.
21365 (October 2, 1984), 49 FR 39400 (October 5,
1984) (File No. SR–ODD–84–1). Since then, the
Commission has reviewed several amendments to
the ODD. See, e.g., Securities Exchange Act Release
Nos. 51124 (February 2, 2005), 70 FR 6740
(February 8, 2005) (File No. SR–ODD–2004–03)
(amending the ODD to reflect, among other things,
the name change from the S&P/TSE 60 Index to the
S&P/TSX 60 Index and to add an Annex to the ODD
setting forth the holidays and early closings of the
´
Bourse de Montreal,); 44333 (May 21, 2001), 66 FR
29193 (May 29, 2001) (File No. SR–ODD–00–04)
(amending the ODD to reflect, among other things,
changes to the structure of the Canadian equity
markets and to provide a discussion of Enhanced
Capital Marketing); 37569 (August 14, 1996), 61 FR
43281 (August 21, 1996) (File No. SR–ODD–96–01)
(amending the ODD to reflect, among other things,
the name change from TCO to CDCC); 29033 (April
1, 1991), 56 FR 14407 (April 9, 1991) (File No. SR–
ODD–91–1) (amending the ODD to include, among
other things, references to Toronto Stock Exchange
35 Composite Index options); 24480 (May 19, 1987),
52 FR 20179 (May 29, 1987) (File No. SR–ODD–87–
2) (amending the ODD to include, among other
things, a discussion of Government of Canada
Treasury Bill Price Index options); 22349 (August
21, 1985), 50 FR 34956 (August 28, 1985) (File No.
SR–ODD–85–1) (amending the ODD to include,
among other things, a discussion of the risks and
uses of stock index and bond options); 51124
(February 1, 2005), 70 FR 6740 (February 8, 2005)
(File No. SR–ODD–2004–03) (amending the ODD to
include, among other things, the CDCC’s new
automatic exercise parameters for equity and bond
VerDate Sep<11>2014
17:40 Oct 29, 2014
Jkt 235001
BILLING CODE 8011–01–P
options); 58172 (July 16, 2008), 73 FR 42840 (July
23, 2008) (File No. SR–ODD–2008–03) (amending
the ODD to include, among other things, the CDCC’s
current automatic exercise parameters for equity
and bond options and to add an update to the
discussion of the treatment of adjustments in the
terms of equity options with respect to stock splits,
stock dividends or other stock distributions); and
63125 (October 18, 2010) 75 FR 65537 (October 25,
2010) (File No. SR–ODD–2010–02) (amending the
ODD to, among other things, update the discussion
of Canadian federal income tax considerations
applicable to non-residents).
3 This provision is intended to permit the
Commission either to accelerate or extend the time
period in which definitive copies of a disclosure
document may be distributed to the public.
4 Rule 9b–1 under the Act provides that the use
of an ODD shall not be permitted unless the options
class to which the document relates is the subject
of an effective registration statement on Form S–20
under the Securities Act of 1933 or is exempt from
such registration. On April 5, 2010, the Commission
declared effective the CDCC’s most recent PostEffective Amendment to its Form S–20 registration
statement. See File No. 002–69458.
5 17 CFR 240.9b–1.
6 17 CFR 200.30–3(a)(39)(i).
PO 00000
Frm 00078
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73422; File No. SR–CBOE–
2014–079)
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Renew an Existing
Pilot Program
October 24, 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 October
16, 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 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to renew an
existing pilot program until May 3,
2016. Under the existing pilot program,
the Exchange is permitted to list P.M.settled options on broad-based indexes
that expire on: (a) Any Friday of the
month, other than the third Friday-ofthe-month (‘‘End of Week Expirations’’
or ‘‘EOWs’’), and (b) the last trading day
of the month (‘‘End of Month
Expirations’’ or ‘‘EOMs’’). The text of
the proposed rule change is provided
below. (additions are italicized;
deletions are [bracketed])
*
*
*
*
*
Chicago Board Options Exchange,
Incorporated
Rules
*
*
*
*
*
Rule 24.9. Terms of Index Option
Contracts
(a)–(d) No change.
(e) End of Week/End of Month
Expirations Pilot Program (‘‘EOW/EOM
Pilot Program’’)
(1) End of Week (‘‘EOW’’) Expirations.
The Exchange may open for trading
EOWs on any broad-based index eligible
for regular options trading to expire on
any Friday of the month, other than the
third Friday-of-the-month. EOWs shall
be subject to all provisions of this Rule
1 15
2 17
E:\FR\FM\30OCN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
30OCN1
]]>Agencies
[Federal Register Volume 79, Number 210 (Thursday, October 30, 2014)]
[Notices]
[Page 64640]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-25782]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-73426; File No. SR-ODD-2014-01]
Canadian Derivatives Clearing Corporation; Order Approving
Accelerated Distribution of an Amended Options Disclosure Document
October 24, 2014.
On October 3, 2014, the Canadian Derivatives Clearing Corporation
(``CDCC''), on behalf of the Bourse de Montr[eacute]al, Inc. (``Bourse
de Montr[eacute]al''), submitted to the Securities and Exchange
Commission (``Commission''), pursuant to Rule 9b-1 under the Securities
Exchange Act of 1934 (``Act''),\1\ five definitive copies of an amended
options disclosure document (``ODD'') that describes the risks and
characteristics of options traded on the Bourse de Montr[eacute]al.\2\
The CDCC has revised the ODD to, among other things, modify certain
expiration dates of options and clarify that bond options do not
currently trade on the Bourse de Montr[eacute]al.
---------------------------------------------------------------------------
\1\ 17 CFR 240.9b-1.
\2\ The Commission initially reviewed the ODD in 1984. See
Securities Exchange Act Release No. 21365 (October 2, 1984), 49 FR
39400 (October 5, 1984) (File No. SR-ODD-84-1). Since then, the
Commission has reviewed several amendments to the ODD. See, e.g.,
Securities Exchange Act Release Nos. 51124 (February 2, 2005), 70 FR
6740 (February 8, 2005) (File No. SR-ODD-2004-03) (amending the ODD
to reflect, among other things, the name change from the S&P/TSE 60
Index to the S&P/TSX 60 Index and to add an Annex to the ODD setting
forth the holidays and early closings of the Bourse de
Montr[eacute]al,); 44333 (May 21, 2001), 66 FR 29193 (May 29, 2001)
(File No. SR-ODD-00-04) (amending the ODD to reflect, among other
things, changes to the structure of the Canadian equity markets and
to provide a discussion of Enhanced Capital Marketing); 37569
(August 14, 1996), 61 FR 43281 (August 21, 1996) (File No. SR-ODD-
96-01) (amending the ODD to reflect, among other things, the name
change from TCO to CDCC); 29033 (April 1, 1991), 56 FR 14407 (April
9, 1991) (File No. SR-ODD-91-1) (amending the ODD to include, among
other things, references to Toronto Stock Exchange 35 Composite
Index options); 24480 (May 19, 1987), 52 FR 20179 (May 29, 1987)
(File No. SR-ODD-87-2) (amending the ODD to include, among other
things, a discussion of Government of Canada Treasury Bill Price
Index options); 22349 (August 21, 1985), 50 FR 34956 (August 28,
1985) (File No. SR-ODD-85-1) (amending the ODD to include, among
other things, a discussion of the risks and uses of stock index and
bond options); 51124 (February 1, 2005), 70 FR 6740 (February 8,
2005) (File No. SR-ODD-2004-03) (amending the ODD to include, among
other things, the CDCC's new automatic exercise parameters for
equity and bond options); 58172 (July 16, 2008), 73 FR 42840 (July
23, 2008) (File No. SR-ODD-2008-03) (amending the ODD to include,
among other things, the CDCC's current automatic exercise parameters
for equity and bond options and to add an update to the discussion
of the treatment of adjustments in the terms of equity options with
respect to stock splits, stock dividends or other stock
distributions); and 63125 (October 18, 2010) 75 FR 65537 (October
25, 2010) (File No. SR-ODD-2010-02) (amending the ODD to, among
other things, update the discussion of Canadian federal income tax
considerations applicable to non-residents).
---------------------------------------------------------------------------
Rule 9b-1 under the Act provides that an options market must file
five preliminary copies of an amended ODD with the Commission at least
30 days prior to the date when definitive copies of the amended ODD are
furnished to customers, unless the Commission determines otherwise,
having due regard to the adequacy of the information disclosed and the
public interest and protection of investors.\3\
---------------------------------------------------------------------------
\3\ This provision is intended to permit the Commission either
to accelerate or extend the time period in which definitive copies
of a disclosure document may be distributed to the public.
---------------------------------------------------------------------------
The Commission has reviewed the amended ODD and finds, having due
regard to the adequacy of the information disclosed, that it is
consistent with the protection of investors and in the public interest
to allow the distribution of the amended ODD as of the date of this
order.\4\
---------------------------------------------------------------------------
\4\ Rule 9b-1 under the Act provides that the use of an ODD
shall not be permitted unless the options class to which the
document relates is the subject of an effective registration
statement on Form S-20 under the Securities Act of 1933 or is exempt
from such registration. On April 5, 2010, the Commission declared
effective the CDCC's most recent Post-Effective Amendment to its
Form S-20 registration statement. See File No. 002-69458.
---------------------------------------------------------------------------
It is therefore ordered, pursuant to Rule 9b-1 under the Act,\5\
that the distribution of the revised ODD (SR-ODD-2014-01) as of the
date of this is order, is approved.
---------------------------------------------------------------------------
\5\ 17 CFR 240.9b-1.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(39)(i).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-25782 Filed 10-29-14; 8:45 am]
BILLING CODE 8011-01-P
