[Federal Register Volume 88, Number 188 (Friday, September 29, 2023)]
[Notices]
[Page 67407]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-21345]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98508; File No. SR-NCC-2023-007]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Designation of Longer Period for Commission 
Action on Proposed Rule Change by National Securities Clearing 
Corporation To Modify the Amended and Restated Stock Options and 
Futures Settlement Agreement and Make Certain Revisions to the NSCC 
Rules

September 25, 2023.
    On August 10, 2023, the Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2023-003 pursuant to Section 19(b) of the 
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
\2\ thereunder to modify the Amended and Restated Stock Options and 
Futures Settlement Agreement between NSCC and The Options Clearing 
Corporation and make certain related revisions to Rule 18, Procedure 
III and Addendum K of the NSCC Rules & Procedures. The proposed rule 
change was published for public comment in the Federal Register on 
August 30, 2023.\3\ The Commission has received no comments regarding 
the proposal described in the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 98213 (Aug. 24, 2023), 
88 FR 59968 (Aug. 30, 2023) (File No. SR-NSCC-2023-007) (``Notice of 
Filing'').
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    Section 19(b)(2)(i) of the Exchange Act \4\ provides that, within 
45 days of the publication of notice of the filing of a proposed rule 
change, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved unless 
the Commission extends the period within which it must act as provided 
in Section 19(b)(2)(ii) of the Exchange Act.\5\ Section 19(b)(2)(ii) of 
the Exchange Act allows the Commission to designate a longer period for 
review (up to 90 days from the publication of notice of the filing of a 
proposed rule change) if the Commission finds such longer period to be 
appropriate and publishes its reasons for so finding, or as to which 
the self-regulatory organization consents.\6\
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    \4\ 15 U.S.C. 78s(b)(2)(i).
    \5\ 15 U.S.C. 78 s(b)(2)(ii).
    \6\ Id.
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    The 45th day after publication of the Notice of Filing is October 
14, 2023. In order to provide the Commission with sufficient time to 
consider the Proposed Rule Change, the Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change and therefore is extending this 45-day time 
period.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Exchange Act,\7\ designates November 28, 2023, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-NCC-2023-
007.
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    \7\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21345 Filed 9-28-23; 8:45 am]
BILLING CODE 8011-01-P