Board of Governors; Sunshine Act Meeting, 26736 [2020-09714]

Download as PDF 26736 Federal Register / Vol. 85, No. 87 / Tuesday, May 5, 2020 / Notices in the captioned docket(s) are consistent with the policies of title 39. For request(s) that the Postal Service states concern market dominant product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3622, 39 U.S.C. 3642, 39 CFR part 3030, and 39 CFR part 3040, subpart B. For request(s) that the Postal Service states concern competitive product(s), applicable statutory and regulatory requirements include 39 U.S.C. 3632, 39 U.S.C. 3633, 39 U.S.C. 3642, 39 CFR part 3035, and 39 CFR part 3040, subpart B. Comment deadline(s) for each request appear in section II. meeting may be closed under the Government in the Sunshine Act. II. Docketed Proceeding(s) 1. Docket No(s).: MC2020–123 and CP2020–131; Filing Title: USPS Request to Add Priority Mail Contract 611 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: April 29, 2020; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 et seq., and 39 CFR 3035.105; Public Representative: Christopher C. Mohr; Comments Due: May 7, 2020. 2. Docket No(s).: MC2020–124 and CP2020–132; Filing Title: USPS Request to Add Priority Mail Contract 612 to Competitive Product List and Notice of Filing Materials Under Seal; Filing Acceptance Date: April 29, 2020; Filing Authority: 39 U.S.C. 3642, 39 CFR 3040.130 et seq., and 39 CFR 3035.105; Public Representative: Christopher C. Mohr; Comments Due: May 7, 2020. This Notice will be published in the Federal Register. [Release No. 34–88768; File No. SR–CBOE– 2020–015] Erica A. Barker, Secretary. [FR Doc. 2020–09557 Filed 5–4–20; 8:45 am] BILLING CODE P POSTAL SERVICE Board of Governors; Sunshine Act Meeting May 1, 2020, at 1:15 p.m. Washington, DC. STATUS: Closed. MATTERS TO BE CONSIDERED: 1. Administrative Issues. 2. Strategic Issues. On May 1, 2020, a majority of the members of the Board of Governors of the United States Postal Service voted unanimously to hold and to close to public observation a special meeting in Washington, DC, via teleconference. The Board determined that no earlier public notice was practicable. General Counsel Certification: The General Counsel of the United States Postal Service has certified that the TIME AND DATE: khammond on DSKJM1Z7X2PROD with NOTICES PLACE: VerDate Sep<11>2014 19:16 May 04, 2020 Jkt 250001 CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of the Board, U.S. Postal Service, 475 L’Enfant Plaza SW, Washington, DC 20260–1000. Telephone: (202) 268–4800. Michael J. Elston, Secretary. [FR Doc. 2020–09714 Filed 5–1–20; 4:15 pm] BILLING CODE 7710–12–P SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Increase Position Limits for Options on Certain Exchange-Traded Funds and Indexes April 29, 2020. I. Introduction On February 26, 2020, Cboe Exchange, Inc. (‘‘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 Interpretation and Policy .07 of Exchange Rule 8.30, Position Limits, and Rule 8.31, Position Limits for Broad-Based Index Options, to increase the position limits for options on the following exchangetraded funds (‘‘ETFs’’) and indexes: The Standard and Poor’s Depositary Receipts Trust (‘‘SPY’’), iShares China Large-Cap ETF (‘‘FXI’’), iShares MSCI EAFE ETF (‘‘EFA’’), iShares iBoxx High Yield Corporate Bond Fund (‘‘HYG’’), Financial Select Sector SPDR Fund (‘‘XLF’’), Market Vectors Oil Services ETF (‘‘OIH’’),3 MSCI Emerging Markets Index (‘‘MXEF’’), and MSCI EAFE Index (‘‘MXEA’’). The proposed rule change was published for comment in the Federal Register on March 16, 2020.4 On April 16, 2020, the Exchange 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 As noted below, the Exchange subsequently amended its proposal to remove the proposed increase in position limits for options on OIH. See infra note 5. 4 See Securities Exchange Act Release No. 88350 (March 10, 2020), 85 FR 15003 (‘‘Notice’’). Comments on the proposed rule change can be found at: https://www.sec.gov/comments/sr-cboe2020-015/srcboe2020015.htm. 2 17 PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 submitted Amendment No. 1 to the proposed rule change.5 The Commission is publishing this notice to solicit comment on Amendment No. 1, and is approving the proposed rule change, as modified by Amendment No. 1, on an accelerated basis. II. Description of the Proposal, as Modified by Amendment No. 1 Currently, position limits for options on ETFs such as those subject to the proposal, as amended,6 are determined pursuant to Rule 8.30, and, with certain exceptions, vary by tier according to the number of outstanding shares and past six-month trading volume of the underlying security.7 Options in the highest tier—i.e., options that overlie securities with the largest numbers of outstanding shares and trading volume—have a standard option position limit of 250,000 contracts (with adjustments for splits, re-capitalizations, etc.) on the same side of the market.8 In addition, Interpretation and Policy .07 of Rule 8.30 currently sets forth separate position limits for options on certain ETFs, including 1,800,000 contracts for options on SPY, and 500,000 contracts for options on FXI and EFA. Similarly, position limits for options on broadbased indexes such as those subject to the proposal, as amended,9 are determined pursuant to Rule 8.31, which provides a position limit of 25,000 contracts for options, restricted to no more than 15,000 near-term, on all broad-based indexes except those specifically listed under Rule 8.31 for 5 In Amendment No. 1, the Exchange: (1) Provided additional justification and analysis in support of the proposal, which is summarized below; (2) revised its proposal to eliminate the proposed increase to position limits for options on OIH; and (3) made technical, corrective, and clarifying changes. The full text of Amendment No. 1 is available on the Commission’s website at: https://www.sec.gov/comments/sr-cboe-2020-015/ srcboe2020015-7081714-215592.pdf. 6 See Notice, supra note 4, at 15005–06, for descriptions provided by the Exchange regarding the composition and design of the underlying ETFs of each of the ETF options subject to this proposal. 7 Pursuant to Rule 8.42, Interpretation and Policy .02, which provides that the exercise limits for ETF options are equivalent to their position limits, the exercise limits for each of these options would be increased to the level of the new position limits. 8 To be eligible for this tier, either the recent sixmonth trading volume of the underlying security must have totaled at least 100,000,000 shares; or the most recent six-month trading volume of the underlying security must have totaled at least 75,000,000 shares and the underlying security must have at least 300,000,000 shares currently outstanding. See Rule 8.30, Interpretation and Policy .02(e). Options on XLF and HYG currently fall into this tier. 9 See Notice, supra note 4, at 15006–07, for descriptions provided by the Exchange regarding the composition and design of the underlying indexes of each of the index options subject to this proposal. E:\FR\FM\05MYN1.SGM 05MYN1

Agencies

[Federal Register Volume 85, Number 87 (Tuesday, May 5, 2020)]
[Notices]
[Page 26736]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-09714]


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POSTAL SERVICE


Board of Governors; Sunshine Act Meeting

TIME AND DATE: May 1, 2020, at 1:15 p.m.

PLACE: Washington, DC.

STATUS: Closed.

MATTERS TO BE CONSIDERED: 
    1. Administrative Issues.
    2. Strategic Issues.
    On May 1, 2020, a majority of the members of the Board of Governors 
of the United States Postal Service voted unanimously to hold and to 
close to public observation a special meeting in Washington, DC, via 
teleconference. The Board determined that no earlier public notice was 
practicable.
    General Counsel Certification: The General Counsel of the United 
States Postal Service has certified that the meeting may be closed 
under the Government in the Sunshine Act.

CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of 
the Board, U.S. Postal Service, 475 L'Enfant Plaza SW, Washington, DC 
20260-1000. Telephone: (202) 268-4800.

Michael J. Elston,
Secretary.
[FR Doc. 2020-09714 Filed 5-1-20; 4:15 pm]
 BILLING CODE 7710-12-P
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