[Federal Register Volume 80, Number 123 (Friday, June 26, 2015)]
[Notices]
[Pages 36867-36869]
[FR Doc No: 2015-15693]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75260; File No. SR-OCC-2015-013]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing of Proposed Rule Change To Codify Procedures for
Resizing the Options Clearing Corporation's Clearing Fund on a Monthly
Basis and Increasing Such Clearing Fund Size on an Intra-Month Basis

June 22, 2015.
    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 June 19, 2015, The Options Clearing Corporation (``OCC'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I, II and III below, which Items have
been prepared by OCC. 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.
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The Commission recently approved a proposed rule change, and issued
a Notice of No-Objection to an Advance Notice Filing, concerning the
establishment of procedures to resize OCC's Clearing Fund and the
addition of financial resources through intra-day margin calls and/or
an intra-month increase of the Clearing Fund.\3\ This proposed rule
change by OCC would codify the authority granted to OCC through such
approval and non-objection by amending the second sentence of Rule
1001(a).
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    \3\ See Securities Exchange Act Release No. 74980 (May 15,
2015), 80 FR 29364 (May 21, 2015) (SR-OCC-2015-009). See also
Securities Exchange Act Release No. 74981 (May 15, 2015), 80 FR
29367 (May 21, 2015) (SR-OCC-2014-811).
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

    In its filing with the Commission, OCC included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. OCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of these
statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

1. Purpose
    OCC is submitting this proposed rule change to amend Rule 1001(a)
in order to codify the Commission's recent approval of and non-
objection to procedures for resizing the Clearing Fund on a monthly
basis and increasing such Clearing Fund size on an intra-month basis to
ensure OCC maintains sufficient financial resources consistent with
regulatory requirements.\4\
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    \4\ Id.
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    On October 16, 2014, OCC filed a notice reflecting emergency action
taken to permit it to increase the size of the Clearing Fund intra-
month to ensure that it had sufficient financial resources to cover the
potential loss associated with a Clearing Member default that presented
the largest exposure to OCC under extreme but plausible market
conditions.\5\ The Commission since has

approved, pursuant to Section 19(b)(2) of the Act,\6\ and issued a
Notice of No-Objection to, pursuant to Section 806(e)(1)(I) of the
Payment, Clearing, and Settlement Supervision Act of 2010,\7\ OCC's
adoption of procedures designed to clarify for Clearing Members and
market participants the manner in which OCC would resize the Clearing
Fund on a monthly basis and, if necessary, collect additional financial
resources through intra-day margin calls and intra-month increases of
the Clearing Fund (``Procedures'').\8\ Under the Procedures, OCC
continues to size the Clearing Fund on the first business day of each
month, with the Clearing Fund size equal to a base amount and an
additional prudential margin of safety determined by OCC, currently set
at $1.8 billion. The base amount is equal to the peak five-day rolling
average of Clearing Fund draws \9\ observed over the preceding three
calendar months. However, under the Procedures, OCC must issue an
intra-day margin call in the event that a projected draw on the
Clearing Fund under stress tests conducted by OCC exceeds 75% of the
then-current size of OCC's Clearing Fund. In addition, OCC must
increase the size of the Clearing Fund intra-month where a projected
draw, after taking into account intra-day margin collected under the
Procedures, exceeds 90% of the then-current size of the Clearing Fund.
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    \5\ See Securities Exchange Act Release No. 73579 (November 12,
2014), 79 FR 68747 (November 18, 2014) (SR-OCC-2014-807). On
November 13, 2014, OCC filed SR- OCC-2014-21 with the Commission to
delete the second sentence of Rule 1001(a), preserving the suspended
effectiveness of that sentence until such time as the Commission
approves or disapproves SR-OCC-2014-21. See Securities Exchange Act
Release No. 73685 (November 25, 2014), 79 FR 71479 (December 2,
2014) (SR-OCC-2014-21). SR-OCC-2014-21 remains pending because on
March 2, 2015 the Commission published an order instituting
proceedings to determine whether to approve or disapprove the
filing. See Securities Exchange Act Release No. 74406 (March 2,
2015), 80 FR 12232 (March 6, 2015) (SR-OCC-2014-21).
    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 12 U.S.C. 5465(e)(1)(I).
    \8\ See Footnote 3 above. Since the Commission issued such
approval and Notice of No-Objection, OCC has amended the Procedures
as set forth in SR-OCC-2015-012.
    \9\ Clearing Fund draws are the amounts that OCC would have been
required to draw against the Clearing Fund under the daily
idiosyncratic default and minor systemic default scenario
calculations conducted by OCC (i.e., the amount of projected losses
not covered by margin deposits or deposits in lieu of margin).
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    OCC is proposing to amend Rule 1001(a) to codify, in accordance
with the Procedures, the process by which such Clearing Fund size: (i)
is determined and set on a monthly basis, and (ii) may be increased on
an intra-month basis. The proposed rule change provides greater
transparency to Clearing Members and other market participants, because
OCC's practices with regard to the monthly sizing of the Clearing Fund
and OCC's ability to increase the Clearing Fund intra-month in
accordance with the Procedures would be codified in the text of Rule
1001(a).
2. Statutory Basis
    OCC believes the proposed rule change is consistent with Section
17A(b)(3)(F) of the Act,\10\ and the rules and regulations thereunder
because it would safeguard securities and funds in the custody and
control of OCC. The Commission has already found that the Procedures
are consistent with the Act, and the rules and regulations thereunder--
more specifically, the Commission found that the Procedures are
consistent with Rule 17Ad-22(b)(3) since they should ensure that OCC is
capable of obtaining sufficient financial resources in a timely manner
to withstand the default of a clearing member presenting the largest
exposure to OCC.\11\ By codifying the Procedures, as described above,
as well as permitting OCC to take action pursuant to the Procedures,
the proposed rule change would provide OCC with the authority necessary
to resize its Clearing Fund pursuant to the Procedures and thereby
safeguard securities and funds in the custody and control of OCC. In
addition, the proposed rule change would ensure that market
participants have sufficient information to identify and evaluate the
risks and costs of using OCC's services since the proposed rule change
would be incorporated into OCC's Rules (which are made available to the
public on OCC's public Web site), in compliance with Rule 17Ad-
22(d)(9).\12\ The proposed rule change is not inconsistent with the
existing rules of OCC, including any other rules proposed to be
amended.
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    \10\ 15 U.S.C. 78q-1(b)(3)(F).
    \11\ 17 CFR 240.17Ad-22(b)(3).
    \12\ 17 CFR 240.17Ad-22(d)(9).
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(B) Clearing Agency's Statement on Burden on Competition

    OCC does not believe that the proposed rule change would impose any
burden on competition.\13\ OCC believes that the proposed rule change
would not unfairly inhibit access to OCC's services or disadvantage or
favor any particular user in relationship to another user because OCC
would continue to size and increase the size of the Clearing Fund as
per the Procedures for which the Commission issued its approval and
non-objection to and without regard to any particular user or Clearing
Member that makes Clearing Fund contributions.
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    \13\ 15 U.S.C. 78q-1(b)(3)(I).
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    For the foregoing reasons, OCC believes that the proposed rule
change is in the public interest, would be consistent with the
requirements of the Act applicable to clearing agencies, and would not
impose a burden on competition.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants, or Others

    Written comments on the proposed rule change were not and are not
intended to be solicited with respect to the proposed rule change and
none have been received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) by order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. 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. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-OCC-2015-013 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-OCC-2015-013. This file
number should be included on the subject line if email is used. 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 Web site (http://www.sec.gov/

rules/sro.shtml). 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 Web site
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 10:00 a.m. and 3:00 p.m. Copies of the filing also will be
available for inspection and copying at the principal office of OCC and
on OCC's Web site at http://www.theocc.com/components/docs/legal/rules_and_bylaws/sr_occ_15_013.pdf. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-OCC-2015-013 and should be submitted on
or before July 17, 2015.
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    \14\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-15693 Filed 6-25-15; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 163 (Thursday, August 26, 2021)]
[Notices]
[Pages 47641-47642]
[FR Doc No: 2021-18382]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER21-2713-000]

SE Athos I, LLC; Supplemental Notice That Initial Market-Based
Rate Filing Includes Request for Blanket Section 204 Authorization

    This is a supplemental notice in the above-referenced proceeding of
SE Athos I, LLC's application for market-based rate authority, with an
accompanying rate tariff, noting that such application includes a
request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is September 9, 2021.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically may mail similar pleadings to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. Hand delivered submissions in docketed
proceedings should be delivered to Health and Human Services, 12225
Wilkins Avenue, Rockville, Maryland 20852.
    In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (http://www.ferc.gov) using
the ``eLibrary'' link. Enter the docket number excluding the last three
digits in the docket number

field to access the document. At this time, the Commission has
suspended access to the Commission's Public Reference Room, due to the
proclamation declaring a National Emergency concerning the Novel
Coronavirus Disease (COVID-19), issued by the President on March 13,
2020. For assistance, contact the Federal Energy Regulatory Commission
at<EMAIL_ADDRESS>or call toll-free,<PHONE_NUMBER> or TYY,
(202) 502-8659.

    Dated: August 20, 2021.
Kimberly D. Bose,
Secretary.
[FR Doc. 2021-18382 Filed 8-25-21; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 88, Number 202 (Friday, October 20, 2023)]
[Notices]
[Pages 72558-72559]
[FR Doc No: 2023-23153]

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DEPARTMENT OF TRANSPORTATION

Pipeline and Hazardous Materials Safety Administration

Hazardous Materials: Notice of Applications for New Special
Permits

AGENCY: Pipeline and Hazardous Materials Safety Administration (PHMSA),
DOT.

ACTION: List of applications for special permits.

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SUMMARY: In accordance with the procedures governing the application
for, and the processing of, special permits from the Department of
Transportation's Hazardous Material Regulations, notice is hereby given
that the Office of Hazardous Materials Safety has received the
application described herein.

DATES: Comments must be received on or before November 20, 2023.

ADDRESSES: Record Center, Pipeline and Hazardous Materials Safety
Administration, U.S. Department of Transportation, Washington, DC
20590.
    Comments should refer to the application number and be submitted in
triplicate. If confirmation of receipt of comments is desired, include
a self-addressed stamped postcard showing the special permit number.

FOR FURTHER INFORMATION CONTACT: Donald Burger, Chief, Office of
Hazardous Materials Safety General Approvals and Permits Branch,
Pipeline and Hazardous Materials Safety Administration, U.S. Department
of Transportation, East Building, PHH-13, 1200 New Jersey Avenue
Southeast, Washington, DC 20590-0001,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Each mode of transportation for which a
particular special permit is requested is indicated by a number in the
``Nature of Application'' portion of the table below as follows: 1--
Motor vehicle, 2--Rail freight, 3--Cargo vessel, 4--Cargo aircraft
only, 5--Passenger-carrying aircraft.
    Copies of the applications are available for inspection in the
Records Center, East Building, PHH-13, 1200 New Jersey Avenue Southeast
Washington, DC.
    This notice of receipt of applications for special permit is
published in accordance with part 107 of the Federal hazardous
materials transportation law (49 U.S.C. 5117(b); 49 CFR 1.53(b)).

    Issued in Washington, DC, on October 5, 2023.
Donald P. Burger,
Chief, General Approvals and Permits Branch.

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                                                                                Nature of the special permits
       Application No.                Applicant           Regulation(s) affected              thereof
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                                              Special Permits Data
----------------------------------------------------------------------------------------------------------------
21632-N.....................  Weilert Enterprises, Inc.  173.56(b)...............  To authorize the manufacture,
                                                                                mark, sale, and use of
                                                                                packaging for cartridges,
                                                                                power device classed as
                                                                                Division 1.4S for the
                                                                                transportation in commerce
                                                                                of these hazardous
                                                                                materials. (mode 5).
21633-N.....................  Exxonmobil Chemical        180.352(b)(1)...........  To authorize the
                               Company.                                             transportation in commerce
                                                                                of Division 4.3 materials in
                                                                                UN 31A steel intermediate
                                                                                bulk containers that have
                                                                                been requalified using an
                                                                                alternative leakproofness
                                                                                test using nitrogen rather
                                                                                than oxygen. (mode 1).
21634-N.....................  Astra Space Operations,    173.301(f)(1),            To authorize the
                               Inc.                       173.302a(a)(1),           transportation in commerce
                                                          178.35(e).                of non-DOT specification
                                                                                cylinders, incorporated into
                                                                                a propellant management
                                                                                system within a satellite.
                                                                                The cylinders are based on
                                                                                the ISO 11119-2 Standard and
                                                                                are not equipped with
                                                                                pressure relief devices.
                                                                                (modes 1, 2, 3, 4, 5).
21635-N.....................  Point One USA, LLC.......  173.4b(a)(10)(ii).......  To authorize the
                                                                                transportation of
                                                                                colorimetric simulant kits
                                                                                on passenger aircrafts.
                                                                                (mode 5).
21636-N.....................  Tradewater LLC...........  173.306(a)(1)...........  To authorize the
                                                                                transportation in commerce
                                                                                of inner receptacles
                                                                                containing refrigerant gases
                                                                                in quantities exceeding 4
                                                                                fluid ounces under the
                                                                                limited quantity exception.
                                                                                (modes 1, 2, 3).
21638-N.....................  Bae Systems Controls Inc.  172.101(j)..............  To authorize the
                                                                                transportation in commerce
                                                                                of lithium ion batteries
                                                                                exceeding 35 kg by cargo-
                                                                                only aircraft. (mode 4).
21642-N.....................  Air Liquide Electronics    173.23(a)...............  To authorize the one time
                               U.S. LP.                                             shipment of non-dot
                                                                                cylinders of Xenon (UN2036)
                                                                                to the USA for discharge and
                                                                                then destruction. (modes 1,
                                                                                2, 3).
21644-N.....................  G-Shang Metal Corporation  180.209.................  To authorize the
                                                                                transportation in commerce
                                                                                of DOT 3AL cylinders that
                                                                                have been requalified every
                                                                                10 years instead of every 5
                                                                                years. (modes 1, 3).
21648-N.....................  Bentley Motors             172.101(j)..............  To authorize the
                               Incorporated.                                        transportation in commerce
                                                                                of lithium ion batteries
                                                                                exceeding 35 kg by cargo-
                                                                                only aircraft. (mode 4).
21649-N.....................  Minnesoda Club LLC.......  171.2(k)................  To authorize the
                                                                                transportation in commerce
                                                                                of certain DOT 3AL, TC/3ALM
                                                                                and UN ISO 7866 cylinders
                                                                                that contain carbon dioxide,
                                                                                with alternative hazard
                                                                                communication. (modes 1, 2).
21650-N.....................  Bollore Logistics Germany  172.400, 172.101(j),      To authorize the
                               GmbH.                      172.300, 173.185(a)(1),   transportation in commerce
                                                          173.185(e)(7),            of certain non-DOT
                                                          173.301(f),               specification containers
                                                          173.302a(a)(1).           containing certain Division
                                                                                2.2 and 2.3 liquefied and
                                                                                compressed gases and other
                                                                                hazardous materials for use
                                                                                in specialty cooling
                                                                                applications such as
                                                                                satellites and military
                                                                                aircraft. (modes 1, 4).
----------------------------------------------------------------------------------------------------------------

[FR Doc. 2023-23153 Filed 10-19-23; 8:45 am]
BILLING CODE P