Notice2025-18969
Self-Regulatory Organizations; the Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, Concerning Certain Revisions in Connection With Proposed Modifications to the Manner in Which OCC Accounts for the Guaranty Substitution Payment in OCC's Liquidity Risk Management Processes.
Primary source
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Published
September 30, 2025
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 90 Issue 187 (Tuesday, September 30, 2025)</title>
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[Federal Register Volume 90, Number 187 (Tuesday, September 30, 2025)]
[Notices]
[Page 47012]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-18969]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-104078; File No. SR-OCC-2025-013]
Self-Regulatory Organizations; the Options Clearing Corporation;
Notice of Designation of Longer Period for Commission Action on
Proposed Rule Change, Concerning Certain Revisions in Connection With
Proposed Modifications to the Manner in Which OCC Accounts for the
Guaranty Substitution Payment in OCC's Liquidity Risk Management
Processes.
September 25, 2025.
On August 29, 2025, the Options Clearing Corporation (``OCC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change SR-OCC-2025-013, pursuant to Section 19(b) of the
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4
\2\ thereunder, to permit OCC to account for the cash payment OCC could
make to the National Securities Clearing Corporation following the
default of a common clearing participant that is attributable only to
OCC-related activity in OCC's liquidity stress testing.\3\ The proposed
rule change was published for public comment in the Federal Register on
September 15, 2025.\4\ The Commission has received no public comment
supporting 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 90 FR 44430.
\4\ See Securities Exchange Act Release No. 103937 (Sep. 10,
2025), 90 FR 44430 (Sep. 15, 2025) (File No. SR-OCC-2025-013)
(``Notice of Filing'').
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Section 19(b)(2) of the Exchange Act \5\ provides that, within 45
days of the publication of notice of the filing of a proposed rule
change, or within such longer period up to 90 days as the Commission
may designate if it finds such longer period to be appropriate and
publishes its reasons for so finding, or as to which the self-
regulatory organization consents, 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. The 45th day after publication of the Notice is
October 30, 2025. The Commission is extending this 45-day time period.
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\5\ 15 U.S.C. 78s(b)(2).
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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.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the
Exchange Act,\6\ designates December 14, 2025, as the date by which the
Commission shall either approve, disapprove, or institute proceedings
to determine whether to disapprove the Proposed Rule Change.
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\6\ Id.
\7\ 17 CFR 200.30-3(a)(31).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-18969 Filed 9-29-25; 8:45 am]
BILLING CODE 8011-01-P
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</html>Indexed from Federal Register on September 30, 2025.
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