Notice2023-21344
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Concerning Modifications to the Amended and Restated Stock Options and Futures Settlement Agreement Between the Options Clearing Corporation and the National Securities Clearing Corporation
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 29, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 188 (Friday, September 29, 2023)</title>
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[Federal Register Volume 88, Number 188 (Friday, September 29, 2023)]
[Notices]
[Pages 67407-67408]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-21344]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98505; File No. SR-OCC-2023-007]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change Concerning Modifications to the Amended and
Restated Stock Options and Futures Settlement Agreement Between the
Options Clearing Corporation and the National Securities Clearing
Corporation
September 25, 2023.
On August 10, 2023, the Options Clearing Corporation (``OCC'')
filed with the Securities and Exchange
[[Page 67408]]
Commission (``Commission'') the proposed rule change SR-OCC-2023-007
(``Proposed Rule Change'') pursuant to Section 19(b) of the Securities
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 \2\
thereunder to modify the Amended and Restated Stock Options and Futures
Settlement Agreement dated August 5, 2017 between OCC and National
Securities Clearing Corporation and make certain revisions to OCC By-
Laws, OCC Rules, OCC's Comprehensive Stress Testing & Clearing Fund
Methodology, and Liquidity Risk Management Description and OCC's
Liquidity Risk Management Framework in connection with the proposed
modifications to the Existing Accord.\3\ The Proposed Rule Change was
published for public comment in the Federal Register on August 30,
2023.\4\ The Commission has received no comments regarding the Proposed
Rule Change.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Notice of Filing infra note 4, at 88 FR 59976.
\4\ Securities Exchange Act Release No. 98215 (Aug. 24, 2023),
88 FR 59976 (Aug. 30, 2023) (File No. SR-OCC-2023-007) (``Notice of
Filing''). OCC also filed a related advance notice (SR-OCC-2023-801)
(``Advance Notice'') with the Commission pursuant to Section
806(e)(1) of Title VIII of the Dodd-Frank Wall Street Reform and
Consumer Protection Act, entitled the Payment, Clearing, and
Settlement Supervision Act of 2010 and Rule 19b-4(n)(1)(i) under the
Exchange Act. 12 U.S.C. 5465(e)(1). 15 U.S.C. 78s(b)(1) and 17 CFR
240.19b-4, respectively. The Advance Notice was published in the
Federal Register on August 30, 2023. Securities Exchange Act Release
No. 98214 (Aug. 24, 2023), 88 FR 59988 (Aug. 30, 2023) (File No. SR-
OCC-2023-801).
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Section 19(b)(2)(i) of the Exchange Act \5\ provides that, within
45 days of the publication of notice of the filing of a proposed rule
change, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved unless
the Commission extends the period within which it must act as provided
in Section 19(b)(2)(ii) of the Exchange Act.\6\ Section 19(b)(2)(ii) of
the Exchange Act allows the Commission to designate a longer period for
review (up to 90 days from the publication of notice of the filing of a
proposed rule change) if the Commission finds such longer period to be
appropriate and publishes its reasons for so finding, or as to which
the self-regulatory organization consents.\7\
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\5\ 15 U.S.C. 78s(b)(2)(i).
\6\ 15 U.S.C. 78 s(b)(2)(ii).
\7\ Id.
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The 45th day after publication of the Notice of Filing is October
14, 2023. In order to provide the Commission with sufficient time to
consider the Proposed Rule Change, the Commission finds that it is
appropriate to designate a longer period within which to take action on
the Proposed Rule Change and therefore is extending this 45-day time
period.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Exchange Act,\8\ designates November 28, 2023, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove proposed rule change SR-OCC-2023-
007.
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\8\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21344 Filed 9-28-23; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 29, 2023.
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