[Federal Register Volume 84, Number 83 (Tuesday, April 30, 2019)]
[Notices]
[Pages 18279-18280]
[FR Doc No: 2019-08645]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OLEM-2018-0693, FRL-9990-26-OEI]

Agency Information Collection Activities; Submission to OMB for
Review and Approval; Comment Request; Identification of Non-Hazardous
Secondary Materials That Are Solid Waste (Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: The Environmental Protection Agency (EPA) has submitted an
information collection request (ICR), Identification of Non-Hazardous
Secondary Materials that are Solid Waste (EPA ICR Number 2382.05, OMB
Control Number 2050-0205) to the Office of Management and Budget (OMB)
for review and approval in accordance with the Paperwork Reduction Act.
This is a proposed extension of the ICR, which is currently approved
through April 30, 2019. Public comments were previously requested via
the Federal Register on October 29, 2018 during a 60-day comment
period. This notice allows for an additional 30 days for public
comments. A fuller description of the ICR is given below, including its
estimated burden and cost to the public. An agency may not conduct or
sponsor and a person is not required to respond to a collection of
information unless it displays a currently valid OMB control number.

DATES: Additional comments may be submitted on or before July 1, 2019.

ADDRESSES: Submit your comments, referencing Docket ID No. EPA-HQ-OLEM-
2018-0693, to (1) EPA, either online using www.regulations.gov (our
preferred method), or by email to [email protected], or by mail to:
RCRA Docket (2822T), U.S. Environmental Protection Agency, 1200
Pennsylvania Avenue NW, Washington, DC 20460; and (2) OMB via email to
[email protected].

Address comments to OMB Desk Officer for EPA.
    EPA's policy is that all comments received will be included in the
public docket without change including any personal information
provided, unless the comment includes profanity, threats, information
claimed to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute.

FOR FURTHER INFORMATION CONTACT: Jesse Miller, Office of Resource
Conservation and Recovery, Materials Recovery and Waste Management
Division, MC 5302P, Environmental Protection Agency, 1200 Pennsylvania
Ave. NW, Washington, DC 20460; telephone number:<PHONE_NUMBER>; fax
number: (703) 308- 0522; email address: [email protected].

SUPPLEMENTARY INFORMATION: Supporting documents, which explain in
detail the information that the EPA will be collecting, are available
in the public docket for this ICR. The docket can be viewed online at
www.regulations.gov or in person at the EPA Docket Center, WJC West,
Room 3334, 1301 Constitution Ave. NW, Washington, DC. The telephone
number for the Docket Center is<PHONE_NUMBER>. For additional
information about EPA's public docket, visit http://www.epa.gov/dockets.
    Abstract: EPA published the Non-Hazardous Secondary Materials
(NHSM) Rule on March 21, 2011. This rule finalized standards and
procedures to be used to identify whether non-hazardous secondary
materials are solid wastes when used as fuels or ingredients in
combustion units. ``Secondary material'' is defined as any material
that is not the primary product of a manufacturing or commercial
process, and can include post-consumer material, off-specification
commercial chemical products or manufacturing chemical intermediates,
post-industrial material, and scrap (codified in Sec.  241.2). ``Non-
hazardous secondary material'' is a secondary material that, when
discarded, would not be identified as a hazardous waste under 40 CFR
part 261 (codified in Sec.  241.2). This RCRA solid waste definition
determines whether a combustion unit is required to meet the emissions
standards for solid waste incineration units issued under section 129
of the Clean Air Act (CAA) or the emissions standards for commercial,
industrial, and institutional boilers issued under section 112 of the
CAA. In this rule, EPA also finalized a definition of traditional
fuels.
    Amendments to this rule were published on February 7, 2013 (78 FR
9112), which added new materials to the list of categorical non-waste
fuels. These amendments also provided clarification on certain issues
on which EPA received new information, as well as specific targeted
revisions. Further amendments to this rule were published on February
8, 2016 (81 FR 6688) and on February 7, 2018 (83 FR 5317), which added
more materials to the list of categorical non-waste fuels.
    Form Numbers: None.
    Respondents/affected entities: Entities potentially affected by
this action are Business or other for-profit.
    Respondent's obligation to respond: Required to obtain benefit
(Sections 1004 and 2002 of RCRA).
    Estimated number of respondents: 1,656.
    Frequency of response: One-time.
    Total estimated burden: 868 hours per year. Burden is defined at 5
CFR 1320.03(b).
    Total estimated cost: $72,295 (per year), includes $1,539 in
annualized capital or operation & maintenance costs.
    Changes in the Estimates: There is a decrease of 2,368 hours in the
total estimated respondent burden compared with the ICRs currently
approved by OMB. This decrease is due to a decrease in the estimation
of the number of certification statements, and to a decrease in the
number of respondents needing to familiarize themselves with the
requirements.

Courtney Kerwin,
Director, Regulatory Support Division.
[FR Doc. 2019-08645 Filed 4-29-19; 8:45 am]
 BILLING CODE 6560-50-P


  U.S. Department of Labor  -  Occupational Safety and Health Administration
    NATIONAL ADVISORY COMMITTEE FOR OCCUPATIONAL SAFETY AND HEALTH (NACOSH)
                        U.S. Department of Labor, WebEx

                       Conference Number: 1-800-369-1663
                        Participant passcode: 2863848

                        Meeting password: Welcome!24
                     Type of Meeting:  Full NACOSH Meeting
                         NACOSH Agenda: June 22, 2021
Andy Levinson  -  Designated Federal Official -<EMAIL_ADDRESS>Long  -  Alternate Designated Federal Offical  -<EMAIL_ADDRESS>Anne Soiza  -  NACOSH Chair  -<EMAIL_ADDRESS>Jennifer Levin  -  Committee Counsel -<EMAIL_ADDRESS>        Carla Marcellus  -  NACOSH Support  -<EMAIL_ADDRESS>           NACOSH Agendas are subject to change without prior notice

1:00  -  1:10 PM
Opening Remarks, Roll-call, Introductions
Anne Soiza, NACOSH Chair
1:10  -  1:15 PM
Agenda

Anne Soiza, NACOSH Chair

Discussion of December 12, 2019 Meeting Minutes
Anne Soiza, NACOSH Chair
1:15 - 1:30 PM
Federal Advisory Committee Act (FACA) Ethics
Vanessa Myers, Office of the Solicitor
1:30 - 2:00 PM
NIOSH Update
John Howard, Director, NIOSH
2:00  -  2:30 PM
OSHA Update

James S. Frederick, Principal Deputy Assistant Secretary of Labor for OSHA
2:30  -  2:40 PM
Break

2:40  -  3:40 PM
Heat Stress
 OSHA's Heat Campaign
 NACOSH Work Group
Augusta Williams, Ashley Bieniek-Tobasco
Andy Levinson, Jessica Schifano
3:40  -  3:50 PM
Break

3:50 PM  -  4:50 PM
OSHA Safety and Health Programs
 OSHA's Safety and Health Programs Maturation Model
 Risk-based Safety
 Discussion
Pamela Barclay
Lisa Long
4:50 PM  -  Close
Open Discussion, Closing Remarks, Adjourn
Full Committee & Public


[Federal Register Volume 80, Number 225 (Monday, November 23, 2015)]
[Notices]
[Pages 72956-72957]
[FR Doc No: 2015-29753]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP14-509-002]

Paiute Pipeline Company; Notice of Amendment of Certificate

    Take notice that on November 6, 2015, Paiute Pipeline Company
(Paiute), P.O. Box 94197, Las Vegas, Nevada 89193-4197, filed an
application in Docket No. CP14-509-002, requesting to amend its
certificate of public convenience and necessity that was issued by the
Commission in an order on May 14, 2015 (Order). The Order authorized
Paiute to construct, and operate certain pipeline and associated
facilities for its 2015 Elko Area Expansion Project (Project) located
in Elko County, Nevada, and directed Paiute to make certain rate and
tariff compliance filings and to restate its rates based on the cost of
service findings in the Order. Paiute is requesting to amend its
certificate to update: (1) Its estimated capital costs; (2) its rate of
return and depreciation; and (3) the period of actual operating and
maintenance (O&M) expenses used to calculate rates, all as more fully
set forth in the application, which is on file with the Commission and
open to public inspection.
    Paiute states that it expects to place the Project in service on or
after December 15, 2015. We note that if Paiute chooses to commence
Project service before the Commission has acted

on its amendment application, its rates will no longer be subject to
change by means of an amendment to its certificate pursuant to section
7 of the Natural Gas Act (NGA). Accordingly, in that event, the
Commission would have to terminate this proceeding, without prejudice
to Paiute filing a general rate case under section 4 of the NGA.
    This filing may also be viewed on the web at 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. For
assistance, contact FERC at<EMAIL_ADDRESS>or call toll-
free,<PHONE_NUMBER> or TYY,<PHONE_NUMBER>.
    Any questions regarding this application should be directed to Mark
A. Litwin, Vice President/General Manager, Paiute Pipeline Company,
P.O. Box 94197, Las Vegas, Nevada 89193-4197 or by calling 702-364-
3195.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below, file with the Federal Energy
Regulatory Commission, 888 First Street NE., Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 7 copies of filings made with the Commission and must mail a
copy to the applicant and to every other party in the proceeding. Only
parties to the proceeding can ask for court review of Commission orders
in the proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://www.ferc.gov. Persons unable to file electronically should
submit an original and 5 copies of the protest or intervention to the
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426. See, 18 CFR 385.2001(a)(1)(iii) and the instructions on the
Commission's Web site under the ``e-Filing'' link.
    Comment Date: 5:00 p.m. Eastern Time on November 27, 2015.

    Dated: November 17, 2015.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2015-29753 Filed 11-20-15; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: May 30, 2008 (Volume 73, Number 105)]
[Notices]
[Page 31162]
[DOCID:fr30my08-92]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    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 a Closed Meeting on June 3, 2008 at 2
p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or his designee, has
certified that, in his opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3) (5), (6), (7), (9)(B), and (10) and 17 CFR
200.402(a)(3), (5), (6), (7), 9(ii) and (10), permit consideration of
the scheduled matters at the Closed Meeting.
    Commissioner Atkins, as duty officer, voted to consider the items
listed for the Closed Meeting in closed session.
    The subject matter of the Closed Meeting scheduled for June 3, 2008
will be:
    Formal orders of investigation;
    Institution and settlement of injunctive actions;
    Institution and settlement of administrative proceedings of an
enforcement nature;
    Resolution of litigation claims;
    Collection matters; and other matters related to enforcement
proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact:
    The Office of the Secretary at<PHONE_NUMBER>.

    Dated: May 27, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-12068 Filed 5-29-08; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 84, Number 226 (Friday, November 22, 2019)]
[Notices]
[Pages 64602-64605]
[FR Doc No: 2019-25315]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87558; File No. SR-ICEEU-2019-025]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change,
Security-Based Swap Submission or Advance Notice Relating to Amendments
to the ICE Clear Europe Clearing Rules and General Contract Terms

November 18, 2019.
    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 November 12, 2019, ICE Clear Europe Limited (``ICE Clear Europe'' or
the ``Clearing House'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule changes described in
Items I, II and III below, which Items have been prepared by ICE Clear
Europe. ICE Clear Europe filed the proposed rule change pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(4)(ii)
thereunder,\4\ such that the proposed rule change was immediately
effective upon filing with the Commission. 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)(4)(ii).
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I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change, Security-Based Swap Submission, or Advance Notice

    The principal purpose of the proposed amendments is for ICE Clear
Europe to amend its Clearing Rules (the ``Rules'') \5\ and General
Contact Terms in connection with the clearing of F&O contracts for a
new market, ICE Futures Abu Dhabi (``IFAD'').
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    \5\ Capitalized terms used but not defined herein have the
meanings specified in the ICE Clear Europe Clearing Rules (the
``Rules'').
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II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change, Security-Based Swap Submission or
Advance Notice

    In its filing with the Commission, ICE Clear Europe 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. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C) below, of the most significant
aspects of such statements.

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change, Security-Based Swap Submission or
Advance Notice

(a) Purpose
    ICE Clear Europe is proposing to amend its Rules in order to
provide clearing services to IFAD, an affiliated newly established
futures exchange which will form part of the Intercontinental Exchange,
Inc. global network of exchanges.\6\ IFAD will operate an energy
futures and options market and intends to initially launch a physically
delivered futures contract whose underlying is Murban crude oil.\7\

The proposed amendments to the Rules reflect the addition of IFAD as a
trading market cleared by ICE Clear Europe and include relevant
references to applicable ADGM laws and regulations. Contracts traded on
IFAD and cleared at ICE Clear Europe will be F&O Contracts for purposes
of the Rules.
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    \6\ Intercontinental Exchange, Inc. has announced the planned
launch of IFAD, which will be a recognized investment exchange under
the laws of the Abu Dhabi Global Market (``ADGM'').
    \7\ The initial launch of IFAD trading is expected to be in the
first half of 2020, subject to completion of all regulatory
approvals and other conditions. ICE Clear Europe expects that prior
to the launch, it will adopt amendments to its Delivery Procedures
relating to settlement of the launched contracts, which will be
filed with the Commission under Rule 19b-4.
    IFAD has stated that it may in the future list other crude oil
and crude-oil related products and other financial futures or
options contracts on such futures contracts, subject to applicable
regulatory authorizations.
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    In Rule 101, new defined terms would be added to reference IFAD
itself, its rules and the various types of IFAD transactions, in a
manner generally consistent with the defined terms applicable to other
F&O energy markets (and transactions thereon) cleared by ICE Clear
Europe. These defined terms include ``IFAD,'' ``IFAD Block Contract,''
``IFAD Block Trade Facility,'' ``IFAD Block Transaction,'' ``IFAD
Contract,'' ``IFAD Matched Contract,'' ``IFAD Matched Transaction,''
``IFAD Rules'' and ``IFAD Transaction''. In addition, defined terms
would be added for relevant regulatory matters, including ``FSMR'' (the
Financial Services and Markets Regulations 2015 of the Abu Dhabi Global
Market), ``FSRA'' (the Abu Dhabi Global Market's Financial Services
Regulatory Authority) and ``FSRA Rules'' (the rules and similar
materials of the FSRA).
    Certain existing definitions would be updated to reference IFAD and
the new defined terms (consistent with existing references to other
cleared markets), including: ``Applicable Law'' to include references
to the FSMR and the FSRA Rules; ``Regulatory Authority'' to include the
FSRA; ``Energy'' to also refer to the clearing of IFAD Markets;
``Energy Transaction'' to include IFAD Transactions; ``Market'' to
include IFAD; and ``Non-DCM/Swap'' to include an IFAD Transaction and
an IFAD Contract.
    The introductions to Part 9 (Default Rules) and Part 12 (Settlement
Finality Regulations and Companies Act 1989) of the Rules would also be
amended to reference the FSMR among other relevant Applicable Laws on
which the Clearing House may rely for purposes of default management.
    A new Rule 1208 would be added to address specifically settlement
finality under ADGM laws. Pursuant to the proposed rule, Clearing
Members and other Participants would acknowledge that modifications to
Applicable Laws in the Abu Dhabi Global Market related to insolvency,
which may affect Clearing Members, the Clearing House and other
Participants, may apply pursuant to the FSMR as a matter of ADGM law.
The rule would give notice to Clearing Members and other Participants
that these modifications may apply in relation to a broader range of
circumstances than those set out in Part 12 itself, and may provide
expanded settlement finality protections as a matter of ADGM law
compared to those which are available under English and European law,
particularly as regards the settlement finality upon delivery of non-
securities products such as oil.
    ICE Clear Europe would also make a conforming change to its General
Contact Terms to include a reference to the IFAD rules, which set out
certain contract terms for IFAD contracts.
(b) Statutory Basis
    Section 17A(b)(3)(F) of the Act \8\ requires, among other things,
that the rules of a clearing agency be designed to promote the prompt
and accurate clearance and settlement of securities transactions and,
to the extent applicable, derivative agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of the clearing agency or for which it is responsible, and
the protection of investors and the public interest. The proposed
amendments are designed to facilitate the clearing of F&O Contracts,
including physically delivered crude oil futures contracts, that are
expected to be launched for trading on the IFAD exchange and that will
be cleared by ICE Clear Europe. The amendments would supplement the
Rules to include references to IFAD and related transactional and
regulatory definitions, on a similar basis to the other F&O markets
that ICE Clear Europe currently clears. ICE Clear Europe believes that
its existing financial resources, account infrastructure, risk
management, systems and operational arrangements would be sufficient to
support clearing of such Contracts and to manage the risks associated
with such Contracts in compliance with applicable law. As a result, in
ICE Clear Europe's view, the amendments would be consistent with the
prompt and accurate clearance and settlement of IFAD contracts under
the Rules, the safeguarding of funds or securities in the custody or
control of the clearing agency or for which it is responsible, and the
protection of investors and the public interest, consistent with the
requirements of Section 17A(b)(3)(F) of the Act.\9\
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    \8\ 15 U.S.C. 78q-1(b)(3)(F).
    \9\ 15 U.S.C. 78q-1(b)(3)(F).
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    The amendments are also consistent with relevant requirements under
Rule 17Ad-22.\10\
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    \10\ 17 CFR 270.17Ad-22.
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    Legal Framework. Consistent with the requirement that clearing
agencies provide a well-founded, clear, transparent, and enforceable
legal basis for their activities pursuant to Rule 17Ad-22(e)(1),\11\
the amendments add references to ADGM regulations and regulatory
authorities into relevant provisions of the Rules, such as the defined
term Applicable Laws, as well as generally incorporate IFAD
transactions into the framework of the Rules. Other amendments would
further clarify the Clearing House's ability to rely on rights under
the FSMR in managing a default, where applicable.
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    \11\ 17 CFR 240.17Ad-22(e)(1), which requires that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: (1) Provide for a well-founded, clear, transparent, and
enforceable legal basis for each aspect of its activities in all
relevant jurisdictions.''
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    Financial Resources. ICE Clear Europe will apply its existing
energy margin methodology to IFAD contracts. ICE Clear Europe believes
that this methodology will provide sufficient margin to cover the risks
from clearing such contracts, which are similar to other energy
contracts cleared by ICE Clear Europe. In addition, for similar
reasons, ICE Clear Europe will apply its existing F&O Guaranty Fund
methodology in connection with the IFAD contracts. In ICE Clear
Europe's view, the existing methodology will be sufficient to support
clearing of the IFAD contracts in addition to other F&O Contracts. As a
result, ICE Clear Europe believes that its financial resources will be
sufficient to support clearing of IFAD contracts, consistent with the
requirements of Rule 17Ad-22(b)(2-3) \12\ and (e)(4).\13\
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    \12\ 17 CFR 240.17Ad-22(b)(2-3), which requires that ``[a]
registered clearing agency that performs central counterparty
services shall establish, implement, maintain and enforce written
policies and procedures reasonably designed to:
    (2) Use margin requirements to limit its credit exposures to
participants under normal market conditions and use risk-based
models and parameters to set margin requirements and review such
margin requirements and the related risk-based models and parameters
at least monthly.
    (3) Maintain sufficient financial resources to withstand, at a
minimum, a default by the participant family to which it has the
largest exposure in extreme but plausible market conditions;
provided that a registered clearing agency acting as a central
counterparty for security-based swaps shall maintain additional
financial resources sufficient to withstand, at a minimum, a default
by the two participant families to which it has the largest
exposures in extreme but plausible market conditions, in its
capacity as a central counterparty for security-based swaps. Such
policies and procedures may provide that the additional financial
resources may be maintained by the security-based swap clearing
agency generally or in separately maintained funds.
    \13\ 17 CFR 240.17Ad-22(e)(4), which requires that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: (4) [e]ffectively identify, measure, monitor, and manage
its credit exposures to participants and those arising from its
payment, clearing, and settlement processes, including by:
    (i) Maintaining sufficient financial resources to cover its
credit exposure to each participant fully with a high degree of
confidence;
    (ii) To the extent not already maintained pursuant to paragraph
(e)(4)(i) of this section, for a covered clearing agency providing
central counterparty services that is either systemically important
in multiple jurisdictions or a clearing agency involved in
activities with a more complex risk profile, maintaining additional
financial resources at the minimum to enable it to cover a wide
range of foreseeable stress scenarios that include, but are not
limited to, the default of the two participant families that would
potentially cause the largest aggregate credit exposure for the
covered clearing agency in extreme but plausible market conditions;
    (iii) To the extent not already maintained pursuant to paragraph
(e)(4)(i) of this section, for a covered clearing agency not subject
to paragraph (e)(4)(ii) of this section, maintaining additional
financial resources at the minimum to enable it to cover a wide
range of foreseeable stress scenarios that include, but are not
limited to, the default of the participant family that would
potentially cause the largest aggregate credit exposure for the
covered clearing agency in extreme but plausible market conditions;
    (iv) Including prefunded financial resources, exclusive of
assessments for additional guaranty fund contributions or other
resources that are not prefunded, when calculating the financial
resources available to meet the standards under paragraphs (e)(4)(i)
through (iii) of this section, as applicable;
    (v) Maintaining the financial resources required under
paragraphs (e)(4)(ii) and (iii) of this section, as applicable, in
combined or separately maintained clearing or guaranty funds; . .
.''

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    Operational Resources. ICE Clear Europe will have sufficient
operational and managerial capacity to clear the IFAD contracts.
Specifically, ICE Clear Europe believes that is existing systems and
procedures are appropriately scalable to handle the additional IFAD
contracts, which will be generally similar to other energy contracts
currently cleared by ICE Clear Europe. As a result, in ICE Clear
Europe's view, the amendments are consistent with the requirements of
Rule 17Ad-22(e)(17).\14\
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    \14\ 17 CFR 240.17Ad-22(e)(4), which requires that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: (17) Manage the covered clearing agency's operational
risks by:
    (i) Identifying the plausible sources of operational risk, both
internal and external, and mitigating their impact through the use
of appropriate systems, policies, procedures, and controls;
    (ii) Ensuring that systems have a high degree of security,
resiliency, operational reliability, and adequate, scalable
capacity; and
    (iii) Establishing and maintaining a business continuity plan
that addresses events posing a significant risk of disrupting
operations.
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    Default Management. These amendments make clarifications to the
default management provisions in Parts 9 and 12 of the Rules to reflect
relevant rights under ADGM regulations. As such, the amendments are
consistent with the Clearing House's ability to take timely action to
continue to meet its obligations in the case of default, as required
under Rule 17Ad-22(e)(13).\15\
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    \15\ 17 CFR 240.17Ad-22(e)(13), which requires that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable: (13) ensure the covered clearing agency has the
authority and operational capacity to take timely action to contain
losses and liquidity demands and continue to meet its obligations
by, at a minimum requiring the covered clearing agency's
participants and, when practicable, other stakeholders to
participate in the testing and review of its default procedures,
including any close-out procedures. . . .''
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(B) Clearing Agency's Statement on Burden on Competition

    ICE Clear Europe does not believe the proposed rule changes would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The changes are
being proposed in connection with the addition of clearing services for
contracts traded on IFAD, a new energy futures and options market. ICE
Clear Europe believes that its clearing of IFAD contracts would provide
additional opportunities for interested market participants to engage
in cleared trading activity in the energy derivatives markets market,
and will not adversely affect its existing cleared markets or
participants in them. Specifically, ICE Clear Europe does not believe
the amendments would adversely affect competition among Clearing
Members, materially affect the cost of clearing, adversely affect
access to clearing in Contracts for Clearing Members or their
customers, or otherwise adversely affect competition in clearing
services. Accordingly, ICE Clear Europe does not believe that the
amendments would impose any impact or burden on competition that is not
appropriate in furtherance of the purpose of the Act.

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

    ICE Clear Europe has conducted a public consultation with respect
to the proposed amendments.\16\ ICE Clear Europe received one question
from a Clearing Member with respect to the launch of clearing of IFAD
contracts which has been addressed and did not require changes to the
proposed rules.
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    \16\ Circular C19/164 (25 October 2019), available at https://www.theice.com/publicdocs/clear_europe/circulars/C19164.pdf.
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III. Date of Effectiveness of the Proposed Rule Change, Security-Based
Swap Submission and Advance Notice and Timing for Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \17\ and paragraph (f) of Rule 19b-4 \18\
thereunder. 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.
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    \17\ 15 U.S.C. 78s(b)(3)(A).
    \18\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, security-based swap submission or advance notice 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-ICEEU-2019-025 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-ICEEU-2019-025. 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 website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change, security-based
swap submission or advance notice that are filed with the Commission,
and all written communications relating to the proposed rule change,
security-based swap submission or advance notice 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
10:00 a.m. and 3:00 p.m. Copies of such filings will also be available
for inspection and copying at the principal office of ICE Clear Europe
and on ICE Clear Europe's website at https://www.theice.com/clear-europe/regulation.
    All comments received will be posted without change. Persons
submitting comments are cautioned that we do not redact or edit
personal identifying information from comment submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-ICEEU-2019-025 and should be
submitted on or before December 13, 2019.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
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    \19\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-25315 Filed 11-21-19; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 106 (Monday, June 3, 2013)]
[Notices]
[Pages 33138-33142]
[FR Doc No: 2013-12975]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69642; File No. SR-OCC-2013-05]

Self-Regulatory Organizations; The Options Clearing Corporation;
Notice of Filing of Proposed Rule Change To Provide That OCC, Rather
Than an Adjustment Panel of the Securities Committee, Will Determine
Adjustments to the Terms of Options Contracts to Account for Certain
Events, Such as Certain Dividend Distributions or Other Corporate
Actions, That Affect the Underlying Security or Other Underlying
Interest

May 28, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Exchange Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby
given that on May 15, 2013, The Options Clearing Corporation (``OCC'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II 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.
---------------------------------------------------------------------------

    \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

    OCC proposes to provide that OCC, rather than an adjustment panel
of the Securities Committee, will determine adjustments to the terms of
options contracts to account for certain events, such as certain
dividend distributions or other corporate actions, that affect the
underlying security or other underlying interest.

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

    The principal purpose of this proposed rule change is to authorize
OCC, rather than adjustment panels of the Securities Committee,\3\ to
determine option contract adjustments and to determine the value of
distributed property involved in such adjustments. Other conforming or
clarifying changes to the By-Laws relating to adjustments and/or
adjustment panels also are being proposed.
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    \3\ The OCC Securities Committee is authorized under OCC By-Law
Article VI Section 11(a) to determine contract adjustments in
particular cases and to formulate adjustment policy or
interpretations having general applicability. The Securities
Committee is comprised of representatives of OCC's participant
options exchanges and authorized representatives of OCC.
---------------------------------------------------------------------------

1. Background and Purpose of Proposed Rule Change
    Certain corporate actions--such as declaration of dividends or
distributions, stock splits, rights offerings, reorganizations, or the
merger or liquidation of an issuer--affecting an underlying security
may require an adjustment to the terms of the overlying options. For
example, in a two-for-one stock split, the overlying options might also
be split two-for-one, so that each option would continue to cover the
same number of shares but with an exercise price equal to half of the
pre-split price. The basic procedural rules governing such
``adjustments'' in the terms of outstanding options are set forth in
Section 11 of Article VI of OCC's By-Laws, and the substantive rules
specifically covering adjustment of stock options are set forth in
Section 11A of Article VI. Although much less common, it is also
possible that events affecting indexes and other underlying interests
could also require adjustment of the overlying options. Rules for
adjustment of such other options are generally found in the By-Law
provisions applicable to such other options.
    The procedural rules of Article VI, Section 11 of the By-Laws
provide that all adjustments to option contracts be determined on a
case-by-case basis by an adjustment panel of the Securities Committee
composed of two representatives \4\ of each exchange that trades an
option on the underlying security and the OCC Chairman (or his
representative). All actions are determined by majority vote, with OCC
voting only to break a tie. Besides determining particular adjustments
in individual cases, Article VI, Section 11 also authorizes the
Securities Committee to adopt statements of policy or interpretations
governing option adjustments in general. Additionally, the Securities
Committee is authorized to determine the value of distributed property
involved in stock option adjustments as stated in Article VI, Section
11A(f).
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    \4\ The Commission has approved an amendment to OCC's By-Laws
under which only one representative of each relevant exchange is
required on an adjustment panel. Securities Exchange Act Release No.
34-67333 (July 2, 2012), 77 FR 40394 (July 9, 2012) (SR-OCC-2012-
07). However, the amendment will not be implemented until an
amendment to the Options Disclosure Document reflecting this change
is made. Interpretation and Policy .01 to Article VI, Section 11
clarifies that until such time as the amendment to the Options
Disclosure Document is made and only one representative is required,
an adjustment panel must have two representatives of each exchange
that trades an option on the underlying security.
---------------------------------------------------------------------------

    The options exchanges asked OCC to evaluate possible changes to the
structure and procedures which govern option contract adjustments. The
request was prompted by a desire to consider ways to lessen investor
confusion and enhance consistency in making option contract
adjustments. In addition, the exchanges have expressed concern that
exchange representatives involved in adjustment decisions may sometimes
be subject to undue pressure from investors. Accordingly, the exchanges
asked OCC to investigate whether changes to adjustment procedures could
insulate the exchanges from undue pressure while concurrently providing
greater consistency and efficiency in making adjustment decisions.
2. Description of Proposed Changes
    Discussions among OCC and the exchanges concerning potential
changes to Securities Committee governance in respect of adjustments
yielded a consensus that the exchanges should retain policy-making
authority under the adjustment By-Laws through the Securities Committee
but that OCC should be the sole determiner of particular adjustment
decisions, thereby eliminating adjustment panels convened for the
purpose of determining adjustments of particular option contracts. The
Securities Committee ratified the following recommendations by
unanimous vote:
    (i) The policy making role of the Securities Committee should be
unchanged. As members of the Securities Committee, exchanges should
retain authority to determine adjustment policy in general.
    (ii) OCC should apply the adjustment By-Laws and Interpretations to
determine particular adjustments on a case-by-case basis. An adjustment
panel comprised of exchange and OCC representatives should not be
called to determine a particular adjustment, thereby insulating the
exchanges from investor pressure to determine a particular outcome.\5\
---------------------------------------------------------------------------

    \5\ There is precedent for this approach in that OCC currently
determines all contract adjustments for security futures. See
Article XII, Sections 3 and 4 of OCC's By-Laws.
---------------------------------------------------------------------------

    (iii) OCC and the exchanges should retain unrestricted ability to
mutually discuss considerations pertaining to any adjustment decision
or policy.
    (iv) OCC should be given authority to determine the value of
distributed property involved in contract adjustments.
    These recommendations were reviewed with OCC's Board of Directors,
which unanimously approved them by authorizing the filing of this
proposed rule change.
    Notwithstanding the elimination of exchange representative
adjustment panels, panels of exchange representatives would still
retain their existing functions and authority under other provisions of
OCC's By-Laws. For example, those panels would retain the authority to
fix exercise settlement amounts for cash-settled options where a
closing price for the underlying is otherwise unavailable.\6\
---------------------------------------------------------------------------

    \6\ See, e.g., Article XIV, Section 5, Article XVII, Section 4,
Article XXII, Section 4 and Article XXIV, Section 4.
---------------------------------------------------------------------------

    The types of adjustments for which exchange representative panels
may continue to be convened would be limited to very rare situations
involving market closures or the unavailability of accurate pricing,
and would need to be done on very short notice, unlike dividend
adjustments, for which there can be a period of time between the
announcement of a dividend and the decision of the panel. Accordingly,
it is much less likely that exchange representatives on these panels
would be subject to the same risk of undue pressure from investors.
These situations are also less likely to fit within a policy or
precedent that could

be prescribed in advance by the Securities Committee, and therefore it
would be more difficult for the Corporation to make the decisions
without the input of the relevant exchanges.
3. Discussion
    As a result of the proposed changes described above, adjustment
panels for the purpose of determining adjustments of particular options
contracts would cease to exist, and exchanges would have no obligation
or authority to determine a particular adjustment. OCC would determine
the appropriate application of the By-Laws and Interpretations and
Policies, but the exchanges would retain policy making authority as
members of the Securities Committee. In this policy making capacity,
actions of the Securities Committee would continue to require approval
by a majority vote.
    Occasionally, there may be unique aspects of a corporate event that
justify departure from adjustment policy or precedent, or that involve
a situation for which there is no existing adjustment policy or
precedent. Such events may also highlight a need for a more general
reformulation of adjustment policy. Under the proposed changes, if OCC
determines such aspects to be present, OCC would determine in its sole
discretion any adjustment to be applied in the particular case. The
Securities Committee would not initiate policy changes ``ad hoc'' to
address a particular case (which would be a de facto determination of a
particular adjustment decision). Instead, after OCC determined a
particular adjustment, the Securities Committee, in its discretion,
would determine the appropriateness of adopting prospective policy
changes or clarifications.\7\
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    \7\ This approach was followed in 2006 in response to a special
cash dividend. In that case, adjustment panels determined to depart
from precedent and adjust certain ETF options where the ETF
distributed pro rata dividends based on the amount of a special
dividend paid by the issuer of one of the component stocks in the
ETF. Following these adjustments, the Securities Committee
recommended to the OCC Board a policy reformulation. See
Interpretation .08 to Article VI, Section 11A.
---------------------------------------------------------------------------

    Although OCC and the exchanges believe it is feasible for OCC to
independently determine adjustments, both are averse to losing valuable
exchange experience and insight that is now brought to bear in
adjustment decisions. Accordingly, OCC and the exchanges believe that
they should retain unrestricted ability to discuss with each other any
considerations pertaining to an adjustment decision or policy--with the
understanding that adjustment decisions would be made solely by OCC and
the exchanges would be involved solely in an advisory capacity.
Accordingly, nothing in the present proposal would prohibit either the
exchanges or OCC from initiating conversations concerning adjustment
policy or particular adjustment decisions, but neither would such
consultation be required.\8\ Furthermore, to ensure continued exchange
involvement in determining adjustment policy, OCC intends to call
periodic meetings of the Securities Committee to discuss policy issues
and review recent experience with contract adjustments.\9\ Such
meetings will be held on a quarterly or more frequent periodic basis.
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    \8\ Confidentiality of the communications between OCC and the
Exchanges would continue to be observed--as it is today.
    \9\ As a practical matter, even if adjustments are determined
solely by OCC it would still be necessary for OCC and the exchanges
to coordinate the operational execution of all option adjustments.
This coordination includes, but is not limited to, the determination
of an effective date, option symbols and strike prices and the
publication of notices.
---------------------------------------------------------------------------

    Occasionally option adjustments involve the substitution of cash
value in lieu of delivery of property. For example, this is the case
when a security does not trade in the United States or cash in lieu of
property is involved. Currently, the Securities Committee has authority
to determine such cash value. OCC is proposing that it would instead be
authorized to determine cash value in these cases since it would have
sole discretion to determine contract adjustments.
    The proposed changes would apply only to the functions of OCC and
the Securities Committee in the determination of option contract
adjustments as described in Article VI, Sections 11 and other By-Law
provisions.\10\ The Securities Committee--or panels comprised of
representatives of the Securities Committee--in respect of actions that
do not involve option contract adjustments would retain all other
functions and authority granted under the By-Laws, including, for
example, the ability to fix index option settlement values in cases of
market disruption \11\ and similar actions.
---------------------------------------------------------------------------

    \10\ See, e.g., [sic] Article XII, Sections 3 and 4; Article
XIV, Section 3A; Article XV, Section 4; Article XVI, Section 3;
Article XVII, Section 3; Article XX, Section 4; Article XXII,
Section 3; Article XXIII, Section 4; and Article XXIV, Section 6.
    \11\ See, e.g., By-Law Article XVII, Section 4.
---------------------------------------------------------------------------

    Adjustment provisions of the By-Laws pertaining to classes of
options other than stock options sometimes provide for adjustment
panels by referring to Article VI, Section 11. Insofar as Article VI,
Section 11 would be modified to eliminate the need for adjustment
panels, the requirement for adjustment panels to determine contract
adjustments for these other types of option contracts would also be
eliminated, with case by case adjustment decisions determined solely by
OCC.
4. Other Changes
    In addition to the principal purpose underlying this rule change as
described above, certain other conforming and/or clarifying changes are
being proposed. These changes are intended to update the By-Laws to
eliminate stale rule provisions, to conform cross-references contained
in other By-Laws to changes being proposed herein and to clarify
certain interpretations adopted under the By-Laws to reflect a recent
policy determination made by the Securities Committee in accordance
with its authority granted under Article VI, Section 11 of OCC's By-
Laws. These changes generally are described below.
    OCC is proposing to modify or eliminate certain adjustment related
By-Law provisions because, due to industry or other changes, there is
no longer any open interest in options covered by such provisions. For
example, equity options previously had traded with exercise prices
expressed in either fractions or decimals. All exercise prices for
equity options now are expressed in decimals, and all open interest in
options series for which exercise prices were expressed in fractions
has expired. Several By-Law provisions are being modified or eliminated
to reflect this circumstance.\12\
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    \12\ See, e.g., the proposed changes to the definition of the
term ``adjustment increment,'' Article I, Section 1.A(2); Article
VI, Section 11A(d); Interpretation & Policy .09 under Article VI,
Section 11A; and Article XII, Section 3(d).
---------------------------------------------------------------------------

    OCC also is proposing to eliminate other stale provisions,
including those found within Interpretation and Policy .01 under the
Article VI, Section 11, which relates to the determination of
``ordinary cash dividends or distributions'' for which no adjustment is
ordinarily made. These provisions preserved the ``10% rule'' (i.e., the
former method used to determine whether a cash dividend or distribution
was ordinary) for application to certain series that had open interest
prior to rescission of the 10% rule. Open interest in all such
``grandfathered'' series has expired, and therefore these provisions
are no longer necessary. Changes would also be made to Article XIV,
Section 3A(a)(3) in relation to

binary options for which the underlying is an equity interest.
    OCC's Securities Committee is empowered under the By-Laws to adopt
statements of policy or interpretations having general application to
specified types of events or specific kinds of cleared contracts.
Recently, the Securities Committee issued a clarifying interpretation
with respect to determinations of corporate issuers to accelerate or
defer payments of otherwise ordinary dividends. More specifically, the
Securities Committee determined that such events would not, as a
general rule, affect the ordinary nature of such dividends subject to
the evaluation of these events on a case-by-case basis.\13\ Comparable
changes, as applicable, would be made to Article XIV, Section 3A. Other
changes being proposed are conforming in nature in that they update
cross-references to By-Laws and Rules proposed to be amended.
---------------------------------------------------------------------------

    \13\ Securities Exchange Act Release No. 34-68531 (December 21,
2012), 77 FR 77157 (December 31, 2012) (SR-OCC-2012-26).
---------------------------------------------------------------------------

    OCC believes the proposed rule change is consistent with the
purposes and requirements of Section 17A(b)(3)(F) of the Securities
Exchange Act of 1934, as amended, (the ``Act'') \14\ and the rules and
regulations thereunder because the proposed changes would help promote
the prompt and accurate clearance and settlement of securities
transactions and foster cooperation and coordination with persons
engaged in the settlement of securities transactions \15\ by providing
OCC with sole discretion for particular adjustment decisions to help
ensure that decisions are consistent, efficient and free from undue
influence and by providing conforming and clarifying changes to OCC's
By-Laws and Rules to help ensure that OCC maintains a well-founded,
transparent and enforceable legal framework as required by Rule 17Ad-
22(d)(1).\16\ The proposed rule change is not inconsistent with any
rules of OCC, including any rules proposed to be amended.
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    \14\ 15 U.S.C. 78q-1.
    \15\ 15 U.S.C. 78q-1(b)(3)(F).
    \16\ 17 CFR 240.17Ad-22(d)(1).
---------------------------------------------------------------------------

    OCC will not implement these proposed rule changes until the
effectiveness of an amendment to the Options Disclosure Document
relating to the proposed changes.

(B) Clearing Agency's Statement on Burden on Competition

    OCC does not believe that the proposed rule change will impact, or
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed rule change
primarily affects OCC's clearing members and their customers, but it
would not impose any additional burden on them because options are
already subject to adjustment and the revised procedures apply equally
to all clearing members. OCC does not believe that providing OCC with
sole discretion for particular adjustment decisions, rather than
continuing to rely on adjustment panels consisting of exchange
representatives, would inhibit access to any of OCC's services or
disadvantage or favor any user of OCC's services in relationship to any
other such user. In fact, OCC believes that the proposed rule change
would promote competition among participants in the options markets
because it would help ensure that adjustment decisions are consistent,
efficient and free from undue influence and therefore it would promote
certainty, fairness and a level playing field in the options markets
with respect to when and how participants are affected by adjustments.
    For the foregoing reasons, OCC believes that the proposed rule
change is in the public interest and consistent with the requirements
of the Act applicable to clearing agencies because it would promote
competition in the options markets that OCC serves and not impose a
burden on competition that is unnecessary or inappropriate in
furtherance of the purposes of the Act.

(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 such 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 Exchange 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-2013-05 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-OCC-2013-05. 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: http://www.theocc.com/components/docs/legal/rules_and_bylaws/sr_occ_13_05.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-2013-05
and should be submitted on or before June 24, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-12975 Filed 5-31-13; 8:45 am]
BILLING CODE 8011-01-P