Self-Regulatory Organizations; the Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update the Options Clearing Corporation's Schedule of Fees, 10544 [2025-02944]

Download as PDF 10544 Federal Register / Vol. 90, No. 35 / Monday, February 24, 2025 / Notices SR–CBOE–2025–008 and should be submitted on or before March 17, 2025. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.69 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–02940 Filed 2–21–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–102437; File No. SR–OCC– 2025–002] Self-Regulatory Organizations; the Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update the Options Clearing Corporation’s Schedule of Fees February 18, 2025. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on February 14, 2025, the Options Clearing Corporation (‘‘Clearing Agency’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Item I below, which Item has been substantially prepared by the Clearing Agency. The Clearing Agency has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b– 4(f) thereunder.4 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 Clearing Agency proposes to revise its schedule of fees, effective February 14, 2025, to implement an increase in clearing fees.5 Specifically, 69 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f). At any time within 60 days of the filing of the proposed rule change, the Commission summarily may 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. 5 OCC initially filed a proposed rule change regarding the changes to its clearing fees on December 19, 2024, with an effective date of January 1, 2025 (File No. SR–OCC–2024–017). On February 14, 2025, OCC withdrew File No. SR– ddrumheller on DSK120RN23PROD with NOTICES1 1 15 VerDate Sep<11>2014 19:10 Feb 21, 2025 Jkt 265001 OCC proposes to increase the per contract clearing fee from $0.02 to $0.025 and to remove the flat per transaction fee (currently $55.00 for transactions of 2,751 or more contracts) entirely. Pursuant to OCC’s Capital Management Policy, which the Commission has approved as an OCC rule, the fee change is designed to address OCC’s anticipated cash flow needs based on interest rate forecasts, projected operating expenses, projected volumes, and capital needs. Proposed changes to OCC’s schedule of fees are included [sic] as Exhibit 5 to File Number SR–OCC–2025–002. Material proposed to be added to OCC’s schedule of fees as currently in effect is underlined and material proposed to be deleted is marked in strikethrough text. All capitalized terms not defined herein have the same meaning as set forth in the OCC By-Laws and Rules.6 The proposed rule change, including the Clearing Agency’s statement of the purpose of, and statutory basis for, the proposed rule change, is available on the Clearing Agency’s website at https:// www.theocc.com/CompanyInformation/Documents-and-Archives/ By-Laws-and-Rules and on the Commission’s website at https:// www.sec.gov/rules-regulations/selfregulatory-organization-rulemaking/ OCC?file_number=SR-OCC-2025-002. II. 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.7 Comments may be submitted electronically by using the Commission’s internet comment form (https://www.sec.gov/rules-regulations/ self-regulatory-organizationrulemaking/OCC?file_number=SR-OCC2025-002) or by sending an email to rule-comments@sec.gov. Please include file number SR–OCC–2025–002 on the OCC–2024–017 and resubmitted this proposed rule change. 6 OCC’s By-Laws and Rules can be found on OCC’s public website: https://www.theocc.com/ Company-Information/Documents-and-Archives/ By-Laws-and-Rules. 7 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 website 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 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of SRO. PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 subject line. Alternatively, paper comments may be sent to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR- OCC–2025–002. 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 website (https://www.sec.gov/rules-regulations/ self-regulatory-organizationrulemaking/OCC?file_number=SR-OCC2025-002). Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to file number SR–OCC–2025–002 and should be submitted on or before March 17, 2025. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2025–02944 Filed 2–21–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold an Open Meeting on Wednesday, February 26, 2025, at 10 a.m. (ET). PLACE: The meeting will be held in Auditorium LL–002 at the Commission’s headquarters, 100 F Street NE, Washington, DC 20549 and will be simultaneously webcast on the Commission’s website at www.sec.gov. STATUS: This meeting will begin at 10:00 a.m. (ET) and will be open to the public. Seating will be on a first-come, firstserved basis. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s website at www.sec.gov. MATTERS TO BE CONSIDERED: 1. The Commission will consider whether to extend the compliance dates for Rule 17ad–22(e)(18)(iv)(A) and (B) under the Securities Exchange Act of 1934 (‘‘Exchange Act’’), and whether to issue a temporary exemption for U.S. TIME AND DATE: 8 17 E:\FR\FM\24FEN1.SGM CFR 200.30–3(a)(12). 24FEN1

Agencies

[Federal Register Volume 90, Number 35 (Monday, February 24, 2025)]
[Notices]
[Page 10544]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-02944]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102437; File No. SR-OCC-2025-002]


Self-Regulatory Organizations; the Options Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
To Update the Options Clearing Corporation's Schedule of Fees

February 18, 2025.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on February 14, 2025, the Options Clearing Corporation (``Clearing 
Agency'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Item I below, 
which Item has been substantially prepared by the Clearing Agency. The 
Clearing Agency has designated this proposal for immediate 
effectiveness pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 
19b-4(f) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f). At any time within 60 days of the 
filing of the proposed rule change, the Commission summarily may 
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.
---------------------------------------------------------------------------

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

    The Clearing Agency proposes to revise its schedule of fees, 
effective February 14, 2025, to implement an increase in clearing 
fees.\5\ Specifically, OCC proposes to increase the per contract 
clearing fee from $0.02 to $0.025 and to remove the flat per 
transaction fee (currently $55.00 for transactions of 2,751 or more 
contracts) entirely. Pursuant to OCC's Capital Management Policy, which 
the Commission has approved as an OCC rule, the fee change is designed 
to address OCC's anticipated cash flow needs based on interest rate 
forecasts, projected operating expenses, projected volumes, and capital 
needs. Proposed changes to OCC's schedule of fees are included [sic] as 
Exhibit 5 to File Number SR-OCC-2025-002. Material proposed to be added 
to OCC's schedule of fees as currently in effect is underlined and 
material proposed to be deleted is marked in strikethrough text. All 
capitalized terms not defined herein have the same meaning as set forth 
in the OCC By-Laws and Rules.\6\
---------------------------------------------------------------------------

    \5\ OCC initially filed a proposed rule change regarding the 
changes to its clearing fees on December 19, 2024, with an effective 
date of January 1, 2025 (File No. SR-OCC-2024-017). On February 14, 
2025, OCC withdrew File No. SR-OCC-2024-017 and resubmitted this 
proposed rule change.
    \6\ OCC's By-Laws and Rules can be found on OCC's public 
website: https://www.theocc.com/Company-Information/Documents-and-Archives/By-Laws-and-Rules.
---------------------------------------------------------------------------

    The proposed rule change, including the Clearing Agency's statement 
of the purpose of, and statutory basis for, the proposed rule change, 
is available on the Clearing Agency's website at https://www.theocc.com/Company-Information/Documents-and-Archives/By-Laws-and-Rules and on the Commission's website at https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/OCC?file_number=SR-OCC-2025-002.

II. 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.\7\ Comments may be submitted 
electronically by using the Commission's internet comment form (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/OCC?file_number=SR-OCC-2025-002) or by sending an email to [email protected]. Please include file number SR-OCC-2025-002 on the 
subject line. Alternatively, paper comments may be sent to Secretary, 
Securities and Exchange Commission, 100 F Street NE, Washington, DC 
20549-1090. All submissions should refer to file number SR- OCC-2025-
002. 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 website (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/OCC?file_number=SR-OCC-2025-002). Do not include personal identifiable 
information in submissions; you should submit only information that you 
wish to make available publicly. We may redact in part or withhold 
entirely from publication submitted material that is obscene or subject 
to copyright protection. All submissions should refer to file number 
SR-OCC-2025-002 and should be submitted on or before March 17, 2025.
---------------------------------------------------------------------------

    \7\ 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 website 
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 a.m. and 3 p.m. Copies of the filing also will be 
available for inspection and copying at the principal office of SRO.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-02944 Filed 2-21-25; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.