Notice2025-01988
Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update The Options Clearing Corporation's Risk Policies
Primary source
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Published
January 31, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 20 (Friday, January 31, 2025)</title>
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[Federal Register Volume 90, Number 20 (Friday, January 31, 2025)]
[Notices]
[Pages 8728-8729]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-01988]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102284; File No. SR-OCC-2025-001]
Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Update The Options Clearing Corporation's Risk Policies
January 27, 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 January 17, 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 Items has been substantially prepared primarily 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)(1) thereunder.\4\ The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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\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)(1). 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.
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The Clearing Agency proposes to revise its Risk Management
Framework, Corporate Risk Management Policy, and Default Management
Policy (collectively, the ``Clearing Agency Policies''). The proposed
changes are designed to update the Clearing Agency Policies to better
align the descriptions therein with the Clearing Agency's current
practices and make other non-substantive, clarifying, conforming and
administrative changes. These changes are designed to enhance the
clarity of OCC's internal governance arrangements and are not expected
to have any impact on OCC's Clearing Members or other market
participants.
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 <a href="https://www.theocc.com">https://www.theocc.com</a>
and on the Commission's website at <a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/%20OCC?file_number=SR-OCC-2025-001">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/%20OCC?file_number=SR-OCC-2025-001</a>.
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.\5\ Comments may be submitted
electronically by using the Commission's internet comment form (<a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-OCC-2025-001">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-OCC-2025-001</a>) or by
sending an email to <a href="/cdn-cgi/l/email-protection#087a7d646d256b6765656d667c7b487b6d6b266f677e"><span class="__cf_email__" data-cfemail="e290978e87cf818d8f8f878c9691a2918781cc858d94">[email protected]</span></a>. Please include file number
SR-OCC-2025-001 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-2025-001. 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 (<a href="https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-OCC-2025-001">https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-OCC-2025-001</a>). 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
[[Page 8729]]
submitted material that is obscene or subject to copyright protection.
All submissions should refer to file number SR-OCC-2025-001 and should
be submitted on or before February 21, 2025.
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\5\ 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.\6\
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\6\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-01988 Filed 1-30-25; 8:45 am]
BILLING CODE 8011-01-P
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