Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Regarding Ownership and Control Reports, 7518-7520 [2015-02643]

Download as PDF 7518 Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices Additionally, these complex orders will trade in the same manner as, including in accordance with allocation, priority and pricing rules applicable to, complex orders that brokers receive from customers with individual leg prices. All complex orders must continue to satisfy eligibility requirements in the rules to receive complex order priority and other complex order treatment. While the proposed rule change provides customers with benefits, the Exchange believes it is appropriate to ensure price improvement accrues to customers because they send orders from off the Exchange and are not in a position to adjust their prices like the market participants on the floor executing the orders. In addition, the proposed rule change is consistent with the a long-established history in the options industry of providing beneficial treatment to customers in various circumstances (such as providing for public customer priority in trade allocations) for the purpose of encouraging continuing customer investment. CBOE does not believe that the proposed rule change will impose any burden on intermarket competition because the proposed rule change relates to the form in which customer orders may be presented to the Exchange for execution, not how orders may be allocated or prioritized. To the extent the proposed change makes CBOE a more attractive marketplace for customers to submit orders, those customers may elect to become CBOE market participants. 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. rljohnson on DSK3VPTVN1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the Exchange consents, the Commission will: A. By order approve or disapprove such proposed rule change, or B. institute proceedings to determine whether the proposed rule change should be disapproved. VerDate Sep<11>2014 15:20 Feb 09, 2015 Jkt 235001 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–2015–010 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–CBOE–2015–010. 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– 2015–010 and should be submitted on or before March 3, 2015. PO 00000 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Jill M. Peterson, Assistant Secretary. [FR Doc. 2015–02641 Filed 2–9–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74204; File No. SR–CFE– 2015–001] Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Regarding Ownership and Control Reports February 4, 2015. Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on January 28, 2015 CBOE Futures Exchange, LLC (‘‘CFE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change described in Items I, II, and III below, which Items have been prepared by CFE. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. CFE also has filed this proposed rule change with the Commodity Futures Trading Commission (‘‘CFTC’’). CFE filed a written certification with the CFTC under Section 5c(c) of the Commodity Exchange Act (‘‘CEA’’) 2 on January 28, 2015. I. Self-Regulatory Organization’s Description of the Proposed Rule Change The Exchange proposes to amend its rule related to reportable positions. The scope of this filing is limited solely to the application of the rule amendments to security futures traded on CFE. The only security futures currently traded on CFE are traded under Chapter 16 of CFE’s Rulebook which is applicable to Individual Stock Based and ExchangeTraded Fund Based Volatility Index security futures. The text of the proposed rule change is attached as Exhibit 4 to the filing but is not attached to the publication of this notice. 13 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(7). 2 7 U.S.C. 7a–2(c). 1 15 Frm 00117 Fmt 4703 Sfmt 4703 E:\FR\FM\10FEN1.SGM 10FEN1 Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / 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, CFE 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. CFE has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. rljohnson on DSK3VPTVN1PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed CFE rule amendments included as part of this rule change is to amend CFE Rule 412B (Reportable Positions): (i) To require that CFE Trading Privilege Holders (‘‘TPHs’’) and non-TPHs must, in a form and manner prescribed by the Exchange, concurrently file with the Exchange a copy of all submissions required by the CFTC pursuant to the Final Rule adopted by the CFTC under the caption Ownership and Control Reports (‘‘new OCR Rule’’)3; and (ii) to require that TPHs that are not CFE clearing members report to the Exchange certain information that the new OCR Rule requires for TPHs that are clearing members. The rule amendments included as part of this rule change are to apply to all products traded on CFE, including both non-security futures and security futures. CFE is making these rule amendments in conjunction with other rule amendments to CFE Rules that are not required to be submitted to the Commission pursuant to Section 19(b)(7) of the Act 4 and thus are not included as part of this rule change. CFE currently requires TPHs and nonTPHs to report to the Exchange, in a form and manner prescribed by the Exchange, reportable positions and related information relating to Exchange contracts that TPHs and non-TPHs are required to report to the CFTC under the CFTC’s prior reporting rules. The new OCR Rule revises the information that TPHs and non-TPHs are required to report to the CFTC, including, among other things, a new CFTC Form 102 (Identification of Special Accounts, Volume Threshold Accounts, and Consolidated Accounts), which includes a new CFTC Form 102A (Identifying 3 78 4 15 FR 69178 (Nov. 18, 2013). U.S.C. 78s(b)(7). VerDate Sep<11>2014 15:20 Feb 09, 2015 Jkt 235001 and reporting a special account) and a new CFTC Form 102B (Identifying and reporting a volume threshold account), and a new CFTC Form 71 (Identification of Omnibus Accounts and SubAccounts). In order for CFE to receive these new Forms relating to Exchange contracts that TPHs and non-TPHs will be required to report to the CFTC under the new OCR Rule, CFE is amending Rule 412B to expressly require TPHs and non-TPHs to file these new Forms with CFE concurrently with filing them to the CFTC. In addition, CFE is amending Rule 412B to require TPHs that are not clearing members (and are not covered under the new OCR Rule) to report certain information that relates to the identification and reporting of special accounts to the Exchange. CFE already requires that TPHs that are not clearing members report this type of information under existing CFE Rule 412B(a). To require TPHs that are not clearing members to continue to report certain information to CFE that is consistent with what they already report to CFE in this regard, CFE is proposing to add CFE Rule 412B(c) to make this clear. Specifically, CFE is proposing to amend the title of CFE Rule 412B (Reportable Positions) by replacing the currently existing rule title with CFE Rule 412B (Ownership and Control Reports). This change incorporates the title of the new OCR Rule. CFE is proposing to replace CFE Rule 412B(a) to reflect the new OCR Rule. CFE Rule 412B(a) currently provides that all TPHs shall report to the Exchange in a form and manner prescribed by the Exchange reportable positions and related information relating to Exchange contracts that TPHs are required to report to the CFTC pursuant to CFTC regulations. The amendments replace this language and provide that each TPH shall, in a form and manner prescribed by the Exchange, concurrently file with the Exchange a copy of all CFTC Form 102 (including CFTC Form 102A and CFTC Form 102B) and CFTC Form 71 submissions (including any attachments, related submissions, or related information) relating to Exchange Contracts that each TPH is required to report to the CFTC pursuant to CFTC regulations. CFE is also proposing to replace CFE Rule 412B(b) to reflect the new OCR Rule. CFE Rule 412B(b) currently provides that any Person (which is defined in CFE Rule 155 5) that is not a 5 CFE Rule 155 defines Person to mean any natural person, association, partnership, limited liability company, joint venture, trust or corporation. PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 7519 TPH and that is required to report to the CFTC pursuant to CFTC regulations reportable positions and related information relating to Exchange contracts shall report the foregoing reportable positions and related information to the Exchange in a form and manner prescribed by the Exchange. The amendments replace this language and provide that any Person that is not a TPH and that is required to make to the CFTC pursuant to CFTC regulations CFTC Form 102 (including CFTC Form 102A and CFTC Form 102B) or CFTC Form 71 submissions (including any attachments, related submissions, or related information) relating to Exchange contracts shall concurrently file with the Exchange copies of all of the foregoing CFTC Form 102 (including CFTC Form 102A, CFTC Form 102B, and CFTC Form 102S) or CFTC Form 71 submissions (including any attachments, related submissions, or related information) in a form and manner prescribed by the Exchange. CFE is proposing to amend CFE Rule 412B to add CFE Rule 412B(c) to require that each TPH that is a not a clearing member shall, in a form and manner prescribed by the Exchange, report to the Exchange the same information regarding the identification and reporting of special accounts relating to Exchange contracts that each TPH that is a clearing member is required to report to the CFTC pursuant to CFTC regulations. Lastly, CFE is proposing to amend the contract specifications for its security futures products to reflect the new OCR Rule’s definition of reportable trading volume as trading volume of 50 or more contracts, during a single trading day, on a single reporting market that is a designated contract market or swap execution facility, in all instruments that such reporting market designates with the same product identifier. Specifically, CFE is amending CFE Rule 1602(n) to provide, ‘‘Pursuant to Commission Regulation § 15.04 and Commission Regulation Part 17, the trading volume that is required to be reported to the Commission is 50 or more futures contracts in a Volatility Index futures contract during a single trading day.’’ 6 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with 6 CFE Rule 1601 defines Volatility Index futures contracts as Individual Stock Based and ExchangeTraded Fund Based Volatility Index security futures contracts and provides a list of the Volatility Index futures contracts that CFE may list for trading. E:\FR\FM\10FEN1.SGM 10FEN1 7520 Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices Section 6(b) of the Act,7 in general, and furthers the objectives of Sections 6(b)(5) 8 and 6(b)(7) 9 in particular in that it is 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 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. The Exchange believes that the proposed rule change will strengthen its ability to carry out its responsibilities as a self-regulatory organization. CFE must receive the information that TPHs and non-TPHs provide to the CFTC under the new OCR Rule in order to carry out CFE’s market surveillance program. For this same reason, CFE also must receive the information that TPHs that are not clearing members provide to the CFTC regarding the identification and reporting of special accounts that TPHs that clearing members must provide to the CFTC under the OCR Rule. In addition, the amendments expressly provide that these TPHs and non-TPHs must provide this information in the form and manner prescribed by the Exchange, which will allow the information’s seamless integration into the Exchange’s market surveillance program and systems utilized by CFE and its regulatory services provider. B. Self-Regulatory Organization’s Statement on Burden on Competition rljohnson on DSK3VPTVN1PROD with NOTICES CFE does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act, in that the rule change enhances CFE’s market surveillance program. The Exchange believes that the proposed rule change is equitable and not unfairly discriminatory because the amendments would apply equally to all TPHs and non-TPHs that are subject to the applicable requirements. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. 7 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 9 15 U.S.C. 78f(b)(7). III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change will become effective on or after February 11, 2015, on a date to be announced by the Exchange through the issuance of a circular. The Exchange will make the effective date of the rule change consistent with the timing of the implementation of the new OCR Rule by the CFTC. At any time within 60 days of the date of effectiveness of the proposed rule change, the Commission, after consultation with the CFTC, may summarily abrogate the proposed rule change and require that the proposed rule change be refiled in accordance with the provisions of Section 19(b)(1) of the Act.10 IV. Solicitation of Comments 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 such filing also will be available for inspection and copying at the principal offices 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–CFE– 2015–001, and should be submitted on or before March 3, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Brent J. Fields, Secretary. [FR Doc. 2015–02643 Filed 2–9–15; 8:45 am] 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– CFE–2015–001 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–CFE–2015–001. 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 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of Med Pro Venture Capital, Inc; Order of Suspension of Trading February 6, 2015. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Med Pro Venture Capital, Inc., f/k/a Modern PVC, Inc. because of questions regarding the accuracy of publicly available information about the company’s operations, including questions about the accuracy of statements in a company press release dated January 12, 2015 and a paid analyst’s report issued on January 9, 2015 describing a strategic partnership with GO CNG technologies. Med Pro Venture Capital, Inc. is a Nevada corporation with its principal place of business located in Scottsdale, Arizona. Its stock is quoted on OTC Link, operated by OTC Markets Group Inc., under the ticker: MPVC. 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. 8 15 VerDate Sep<11>2014 15:20 Feb 09, 2015 10 15 Jkt 235001 PO 00000 U.S.C. 78s(b)(1). Frm 00119 Fmt 4703 11 17 Sfmt 4703 E:\FR\FM\10FEN1.SGM CFR 200.30–3(a)(12). 10FEN1

Agencies

[Federal Register Volume 80, Number 27 (Tuesday, February 10, 2015)]
[Notices]
[Pages 7518-7520]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-02643]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74204; File No. SR-CFE-2015-001]


Self-Regulatory Organizations; CBOE Futures Exchange, LLC; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change 
Regarding Ownership and Control Reports

February 4, 2015.
    Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on January 28, 2015 CBOE 
Futures Exchange, LLC (``CFE'' or ``Exchange'') filed with the 
Securities and Exchange Commission (``SEC'' or ``Commission'') the 
proposed rule change described in Items I, II, and III below, which 
Items have been prepared by CFE. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons. CFE also has filed this proposed rule change with the 
Commodity Futures Trading Commission (``CFTC''). CFE filed a written 
certification with the CFTC under Section 5c(c) of the Commodity 
Exchange Act (``CEA'') \2\ on January 28, 2015.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(7).
    \2\ 7 U.S.C. 7a-2(c).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Description of the Proposed Rule 
Change

    The Exchange proposes to amend its rule related to reportable 
positions. The scope of this filing is limited solely to the 
application of the rule amendments to security futures traded on CFE. 
The only security futures currently traded on CFE are traded under 
Chapter 16 of CFE's Rulebook which is applicable to Individual Stock 
Based and Exchange-Traded Fund Based Volatility Index security futures. 
The text of the proposed rule change is attached as Exhibit 4 to the 
filing but is not attached to the publication of this notice.

[[Page 7519]]

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, CFE 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. CFE 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 purpose of the proposed CFE rule amendments included as part of 
this rule change is to amend CFE Rule 412B (Reportable Positions): (i) 
To require that CFE Trading Privilege Holders (``TPHs'') and non-TPHs 
must, in a form and manner prescribed by the Exchange, concurrently 
file with the Exchange a copy of all submissions required by the CFTC 
pursuant to the Final Rule adopted by the CFTC under the caption 
Ownership and Control Reports (``new OCR Rule'')\3\; and (ii) to 
require that TPHs that are not CFE clearing members report to the 
Exchange certain information that the new OCR Rule requires for TPHs 
that are clearing members. The rule amendments included as part of this 
rule change are to apply to all products traded on CFE, including both 
non-security futures and security futures. CFE is making these rule 
amendments in conjunction with other rule amendments to CFE Rules that 
are not required to be submitted to the Commission pursuant to Section 
19(b)(7) of the Act \4\ and thus are not included as part of this rule 
change.
---------------------------------------------------------------------------

    \3\ 78 FR 69178 (Nov. 18, 2013).
    \4\ 15 U.S.C. 78s(b)(7).
---------------------------------------------------------------------------

    CFE currently requires TPHs and non-TPHs to report to the Exchange, 
in a form and manner prescribed by the Exchange, reportable positions 
and related information relating to Exchange contracts that TPHs and 
non-TPHs are required to report to the CFTC under the CFTC's prior 
reporting rules. The new OCR Rule revises the information that TPHs and 
non-TPHs are required to report to the CFTC, including, among other 
things, a new CFTC Form 102 (Identification of Special Accounts, Volume 
Threshold Accounts, and Consolidated Accounts), which includes a new 
CFTC Form 102A (Identifying and reporting a special account) and a new 
CFTC Form 102B (Identifying and reporting a volume threshold account), 
and a new CFTC Form 71 (Identification of Omnibus Accounts and Sub-
Accounts). In order for CFE to receive these new Forms relating to 
Exchange contracts that TPHs and non-TPHs will be required to report to 
the CFTC under the new OCR Rule, CFE is amending Rule 412B to expressly 
require TPHs and non-TPHs to file these new Forms with CFE concurrently 
with filing them to the CFTC. In addition, CFE is amending Rule 412B to 
require TPHs that are not clearing members (and are not covered under 
the new OCR Rule) to report certain information that relates to the 
identification and reporting of special accounts to the Exchange. CFE 
already requires that TPHs that are not clearing members report this 
type of information under existing CFE Rule 412B(a). To require TPHs 
that are not clearing members to continue to report certain information 
to CFE that is consistent with what they already report to CFE in this 
regard, CFE is proposing to add CFE Rule 412B(c) to make this clear.
    Specifically, CFE is proposing to amend the title of CFE Rule 412B 
(Reportable Positions) by replacing the currently existing rule title 
with CFE Rule 412B (Ownership and Control Reports). This change 
incorporates the title of the new OCR Rule.
    CFE is proposing to replace CFE Rule 412B(a) to reflect the new OCR 
Rule. CFE Rule 412B(a) currently provides that all TPHs shall report to 
the Exchange in a form and manner prescribed by the Exchange reportable 
positions and related information relating to Exchange contracts that 
TPHs are required to report to the CFTC pursuant to CFTC regulations. 
The amendments replace this language and provide that each TPH shall, 
in a form and manner prescribed by the Exchange, concurrently file with 
the Exchange a copy of all CFTC Form 102 (including CFTC Form 102A and 
CFTC Form 102B) and CFTC Form 71 submissions (including any 
attachments, related submissions, or related information) relating to 
Exchange Contracts that each TPH is required to report to the CFTC 
pursuant to CFTC regulations.
    CFE is also proposing to replace CFE Rule 412B(b) to reflect the 
new OCR Rule. CFE Rule 412B(b) currently provides that any Person 
(which is defined in CFE Rule 155 \5\) that is not a TPH and that is 
required to report to the CFTC pursuant to CFTC regulations reportable 
positions and related information relating to Exchange contracts shall 
report the foregoing reportable positions and related information to 
the Exchange in a form and manner prescribed by the Exchange. The 
amendments replace this language and provide that any Person that is 
not a TPH and that is required to make to the CFTC pursuant to CFTC 
regulations CFTC Form 102 (including CFTC Form 102A and CFTC Form 102B) 
or CFTC Form 71 submissions (including any attachments, related 
submissions, or related information) relating to Exchange contracts 
shall concurrently file with the Exchange copies of all of the 
foregoing CFTC Form 102 (including CFTC Form 102A, CFTC Form 102B, and 
CFTC Form 102S) or CFTC Form 71 submissions (including any attachments, 
related submissions, or related information) in a form and manner 
prescribed by the Exchange.
---------------------------------------------------------------------------

    \5\ CFE Rule 155 defines Person to mean any natural person, 
association, partnership, limited liability company, joint venture, 
trust or corporation.
---------------------------------------------------------------------------

    CFE is proposing to amend CFE Rule 412B to add CFE Rule 412B(c) to 
require that each TPH that is a not a clearing member shall, in a form 
and manner prescribed by the Exchange, report to the Exchange the same 
information regarding the identification and reporting of special 
accounts relating to Exchange contracts that each TPH that is a 
clearing member is required to report to the CFTC pursuant to CFTC 
regulations.
    Lastly, CFE is proposing to amend the contract specifications for 
its security futures products to reflect the new OCR Rule's definition 
of reportable trading volume as trading volume of 50 or more contracts, 
during a single trading day, on a single reporting market that is a 
designated contract market or swap execution facility, in all 
instruments that such reporting market designates with the same product 
identifier. Specifically, CFE is amending CFE Rule 1602(n) to provide, 
``Pursuant to Commission Regulation Sec.  15.04 and Commission 
Regulation Part 17, the trading volume that is required to be reported 
to the Commission is 50 or more futures contracts in a Volatility Index 
futures contract during a single trading day.'' \6\
---------------------------------------------------------------------------

    \6\ CFE Rule 1601 defines Volatility Index futures contracts as 
Individual Stock Based and Exchange-Traded Fund Based Volatility 
Index security futures contracts and provides a list of the 
Volatility Index futures contracts that CFE may list for trading.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with

[[Page 7520]]

Section 6(b) of the Act,\7\ in general, and furthers the objectives of 
Sections 6(b)(5) \8\ and 6(b)(7) \9\ in particular in that it is 
designed:
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
    \9\ 15 U.S.C. 78f(b)(7).
---------------------------------------------------------------------------

     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 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.
    The Exchange believes that the proposed rule change will strengthen 
its ability to carry out its responsibilities as a self-regulatory 
organization. CFE must receive the information that TPHs and non-TPHs 
provide to the CFTC under the new OCR Rule in order to carry out CFE's 
market surveillance program. For this same reason, CFE also must 
receive the information that TPHs that are not clearing members provide 
to the CFTC regarding the identification and reporting of special 
accounts that TPHs that clearing members must provide to the CFTC under 
the OCR Rule. In addition, the amendments expressly provide that these 
TPHs and non-TPHs must provide this information in the form and manner 
prescribed by the Exchange, which will allow the information's seamless 
integration into the Exchange's market surveillance program and systems 
utilized by CFE and its regulatory services provider.

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

    CFE does not believe that the proposed rule change will impose any 
burden on competition not necessary or appropriate in furtherance of 
the purposes of the Act, in that the rule change enhances CFE's market 
surveillance program. The Exchange believes that the proposed rule 
change is equitable and not unfairly discriminatory because the 
amendments would apply equally to all TPHs and non-TPHs that are 
subject to the applicable requirements.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The proposed rule change will become effective on or after February 
11, 2015, on a date to be announced by the Exchange through the 
issuance of a circular. The Exchange will make the effective date of 
the rule change consistent with the timing of the implementation of the 
new OCR Rule by the CFTC.
    At any time within 60 days of the date of effectiveness of the 
proposed rule change, the Commission, after consultation with the CFTC, 
may summarily abrogate the proposed rule change and require that the 
proposed rule change be refiled in accordance with the provisions of 
Section 19(b)(1) of the Act.\10\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

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-CFE-2015-001 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CFE-2015-001. 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 such filing also will be available 
for inspection and copying at the principal offices 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-CFE-2015-001, 
and should be submitted on or before March 3, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-02643 Filed 2-9-15; 8:45 am]
BILLING CODE 8011-01-P
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