Product Change-Parcel Select Negotiated Service Agreement, 58230 [2017-26590]

Download as PDF 58230 Federal Register / Vol. 82, No. 236 / Monday, December 11, 2017 / Notices The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 5, 2017, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 382 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–42, CP2018–72. SUPPLEMENTARY INFORMATION: Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–82221; File No. SR–OCC– 2017–805] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of No Objection To Advance Notice Filing Concerning the Use of the Society of Worldwide Interbank Financial Telecommunication (‘‘SWIFT’’) Messaging Network in OCC’s Cash Settlement Process [FR Doc. 2017–26586 Filed 12–8–17; 8:45 am] December 5, 2017. BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Parcel Select Negotiated Service Agreement AGENCY: ACTION: Postal ServiceTM. Notice. The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: Date of notice required under 39 U.S.C. 3642(d)(1): December 11, 2017. DATES: FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on December 5, 2017, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add Parcel Select Contract 26 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–44, CP2018–74. SUPPLEMENTARY INFORMATION: Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. [FR Doc. 2017–26590 Filed 12–8–17; 8:45 am] daltland on DSKBBV9HB2PROD with NOTICES BILLING CODE 7710–12–P VerDate Sep<11>2014 17:54 Dec 08, 2017 Jkt 244001 The Options Clearing Corporation (‘‘OCC’’) filed on October 10, 2017 with the Securities and Exchange Commission (‘‘Commission’’) advance notice SR–OCC–2017–805 (‘‘Advance Notice’’) pursuant to Section 806(e)(1) of the Payment, Clearing, and Settlement Supervision Act of 2010 (‘‘Payment, Clearing and Settlement Supervision Act’’) 1 and Rule 19b–4(n)(1)(i) under the Securities Exchange Act of 1934 2 (‘‘Exchange Act’’) to propose changes to the current process OCC uses to conduct cash settlement with Clearing Members 3 by requiring Clearing Banks to integrate the use of the Society of Worldwide Interbank Financial Telecommunication (‘‘SWIFT’’) messaging network. The proposed changes are intended to enhance the resiliency, efficiency, and consistency of the cash settlement process and thereby mitigate risks that are associated with the existing cash settlement process. The Advance Notice was published for comment in the Federal Register on November 17, 2017.4 The Commission has not received any comments on the Advance Notice to date. This publication serves as notice of no objection to the Advance Notice. I. Background In connection with OCC’s performance of clearance and settlement 1 12 U.S.C. 5465(e)(1). The Financial Stability Oversight Council designated OCC a systemically important financial market utility (‘‘SIFMU’’) on July 18, 2012. See Financial Stability Oversight Council 2012 Annual Report, Appendix A, https:// www.treasury.gov/initiatives/fsoc/Documents/ 2012%20Annual%20Report.pdf. Therefore, OCC is required to comply with the Payment, Clearing and Settlement Supervision Act and file advance notices with the Commission. 2 17 CFR 240.19b–4(n)(1)(i). 3 Unless specified otherwise, capitalized terms shall have the meaning OCC ascribes in its By-Laws and Rules. 4 Notice of Filing of Advance Notice Concerning the use of the Society of Worldwide Interbank Financial Telecommunication Messaging Network in OCC’s Cash Settlement Process, Exchange Act Release No. 82055 (Nov. 13, 2017), 82 FR 54448 (Nov. 17, 2017) (‘‘Notice of Filing of Advance Notice’’). PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 services, OCC and its Clearing Members are obligated to perform cash settlement functions pursuant to OCC’s By-Laws and Rules. For example, a Clearing Member may be obligated to pay OCC the premium for a cleared contract, or OCC may be obligated to pay a Clearing Member the settlement value of a cleared contract.5 The cash settlement process for these and other clearance and settlement services is facilitated by Clearing Banks, which are banks or trust companies that have entered agreements with OCC to settle on behalf of Clearing Members and at which OCC and Clearing Members each maintain accounts.6 Currently, there are eight Clearing Banks with which OCC effects cash settlements through the ENCORE clearing system (‘‘OCS’’).7 OCC generates settlement instructions associated with Cleared Contracts and Stock Loans of Clearing Members by running specific predefined settlement profiles 8 throughout the day. These settlement instructions are categorized as either start-of-day instructions or intra-day instructions. The resulting settlement instructions are generally transmitted by OCC to Clearing Banks by way of OCS, at which point the Clearing Banks are able to view batches of settlement instructions within OCS.9 Clearing Bank staff review the settlement instructions by logging into OCS and opening the settlement batch.10 5 See Article VI, Section 4 of OCC’s By-Laws (Obligations of Purchasing Clearing Members); see also Chapter V of OCC’s Rules (Daily Cash Settlement); Article VI, Section 6.01 of OCC’s ByLaws (requiring, among other things, that OCC be substituted through novation as the buyer of every seller and seller to every buyer with respect to obligations owing to persons having positions in cleared contract); Article I, Section 1.S.(16) of OCC’s By-Laws (defining the term ‘‘settlement time’’). 6 See OCC Rule 101.C.(1) (defining the term ‘‘clearing bank’’ to mean ‘‘a bank or trust company which has entered into an agreement with [OCC] in respect of settlement of confirmed trades on behalf of Clearing Members.’’). 7 See generally OCC Completes Second Major Installation of EncoreTM Clearing System (November 25, 2002) available at https:// www.theocc.com/about/newsroom/releases/2002/ 11_25.jsp. 8 Predefined settlement profiles are programmed to track various types of obligations to pay or collect cash in connection with Cleared Contracts and Stock Loans that are in turn used to generate settlement instructions. 9 A settlement batch is a set of individual debit or credit settlement instructions that may either instruct a Clearing Bank to move funds to or from an OCC settlement account or to or from a Clearing Member’s account at the same Clearing Bank. 10 One of the Clearing Banks, however, currently does not utilize OCS as its primary means of effecting cash settlement. Instead, the Clearing Bank primarily receives settlement instructions from OCC via facsimile, reviews the settlement instructions, approves or rejects them, and then returns a E:\FR\FM\11DEN1.SGM 11DEN1

Agencies

[Federal Register Volume 82, Number 236 (Monday, December 11, 2017)]
[Notices]
[Page 58230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26590]


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POSTAL SERVICE


Product Change--Parcel Select Negotiated Service Agreement

AGENCY: Postal ServiceTM.

ACTION: Notice.

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SUMMARY: The Postal Service gives notice of filing a request with the 
Postal Regulatory Commission to add a domestic shipping services 
contract to the list of Negotiated Service Agreements in the Mail 
Classification Schedule's Competitive Products List.

DATES: Date of notice required under 39 U.S.C. 3642(d)(1): December 11, 
2017.

FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202-268-3179.

SUPPLEMENTARY INFORMATION: The United States Postal Service[supreg] 
hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on 
December 5, 2017, it filed with the Postal Regulatory Commission a 
Request of the United States Postal Service to Add Parcel Select 
Contract 26 to Competitive Product List. Documents are available at 
www.prc.gov, Docket Nos. MC2018-44, CP2018-74.

Elizabeth A. Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2017-26590 Filed 12-8-17; 8:45 am]
 BILLING CODE 7710-12-P
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