Federal Register / Vol. 83, No. 149 / Thursday, August 2, 2018 / Notices 37855 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Notice of Filing infra note 5, at 83 FR 28018. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

33184] 

Notice of Applications for 

Deregistration Under Section 8(f) of the 

Investment Company Act of 1940 

July 27, 2018. 

The following is a notice of 

applications for deregistration under 

section 8(f) of the Investment Company 

Act of 1940 for the month of July 2018. 

A copy of each application may be 

obtained via the Commission’s website 

by searching for the file number, or for 

an applicant using the Company name 

box, at http://www.sec.gov/search/ 

search.htm or by calling (202) 551– 

8090. An order granting each 

application will be issued unless the 

SEC orders a hearing. Interested persons 

may request a hearing on any 

application by writing to the SEC’s 

Secretary at the address below and 

serving the relevant applicant with a 

copy of the request, personally or by 

mail. Hearing requests should be 

received by the SEC by 5:30 p.m. on 

August 21, 2018, and should be 

accompanied by proof of service on 

applicants, in the form of an affidavit or, 

for lawyers, a certificate of service. 

Pursuant to Rule 0–5 under the Act, 

hearing requests should state the nature 

of the writer’s interest, any facts bearing 

upon the desirability of a hearing on the 

matter, the reason for the request, and 

the issues contested. Persons who wish 

to be notified of a hearing may request 

notification by writing to the 

Commission’s Secretary. 

ADDRESSES: The Commission: Secretary, 

U.S. Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

FOR FURTHER INFORMATION CONTACT: 

Shawn Davis, Branch Chief, at (202) 

551–6413 or Chief Counsel’s Office at 

(202) 551–6821; SEC, Division of 

Investment Management, Chief 

Counsel’s Office, 100 F Street NE, 

Washington, DC 20549–8010. 

Broadstone Real Estate Access Fund, 

Inc. [File No. 811–23303] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. Applicant has 

never made a public offering of its 

securities and does not propose to make 

a public offering or engage in business 

of any kind. 

Filing Dates: The application was 

filed on July 11, 2018, and amended on 

July 19, 2018. 

Applicant’s Address: 800 Clinton 

Square, Rochester, New York 14604. 

Cohen & Steers Active Commodities 

Strategy Fund, Inc. [File No. 811– 

22938] 

Summary: Applicant seeks an order 

declaring that it has ceased to be an 

investment company. On April 13, 

2018, applicant made a liquidating 

distribution to its shareholders, based 

on net asset value. Expenses of $50,599 

incurred in connection with the 

liquidation were paid by the applicant. 

Filing Date: The application was filed 

on July 11, 2018. 

Applicant’s Address: 280 Park 

Avenue, 10th Floor New York, New 

York 10017. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2018–16527 Filed 8–1–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83735; File No. SR–OCC– 

2018–008] 

Self-Regulatory Organizations; The 

Options Clearing Corporation; Order 

Approving Proposed Rule Change, as 

Modified by Amendments No. 1 and 2, 

Related to The Options Clearing 

Corporation’s Stress Testing and 

Clearing Fund Methodology 

July 27, 2018. 

I. Introduction 

On May 30, 2018, The Options 

Clearing Corporation (‘‘OCC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change SR–OCC–2018– 

008 (‘‘Proposed Rule Change’’) pursuant 

to Section 19(b) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 2 thereunder to propose changes 

to OCC’s By-Laws and Rules, the 

formalization of a substantially new 

Clearing Fund Methodology Policy 

(‘‘Policy’’), and the adoption of a 

document describing OCC’s new 

Clearing Fund and stress testing 

methodology (‘‘Methodology 

Description’’).3 The proposed changes 

are primarily designed to enhance 

OCC’s overall resiliency, particularly 

with respect to the level of OCC’s prefunded financial resources. Specifically, 

the proposed changes would: 

(1) Reorganize, restate, and 

consolidate the provisions of OCC’s ByLaws and Rules relating to the Clearing 

Fund into a newly revised Chapter X of 

OCC’s Rules; 

(2) modify the coverage level of OCC’s 

Clearing Fund sizing requirement to 

protect OCC against losses stemming 

from the default of the two Clearing 

Member Groups that would potentially 

cause the largest aggregate credit 

exposure for OCC in extreme but 

plausible market conditions (i.e., adopt 

a ‘‘Cover 2 Standard’’ for sizing the 

Clearing Fund); 

(3) adopt a new risk tolerance for OCC 

to cover a 1-in-50 year hypothetical 

market event at a 99.5% confidence 

level over a two-year look-back period; 

(4) adopt a new Clearing Fund and 

stress testing methodology, which 

would be underpinned by a new 

scenario-based one-factor risk model 

stress testing approach, as detailed in 

the newly proposed Policy and 

Methodology Description; 

(5) document governance, monitoring, 

and review processes related to Clearing 

Fund and stress testing; 

(6) provide for certain anti-procyclical 

limitations on the reduction in Clearing 

Fund size from month to month; 

(7) increase the minimum Clearing 

Fund contribution requirement for 

Clearing Members to $500,000; 

(8) modify OCC’s allocation weighting 

methodology for Clearing Fund 

contributions; 

(9) reduce from five to two business 

days the timeframe within which 

Clearing Members are required to fund 

Clearing Fund deficits due to monthly 

or intra-month resizing or due to Rule 

amendments; 

(10) provide additional clarity in 

OCC’s Rules regarding certain antiprocyclicality measures in OCC’s 

margin model; and 

(11) make a number of other nonsubstantive clarifying, conforming, and 

organizational changes to OCC’s ByLaws, Rules, Collateral Risk 

Management Policy, Default 

Management Policy, and filed 

procedures, including retiring OCC’s 

existing Clearing Fund Intra-Month Resizing Procedure, Financial Resources 

Monitoring and Call Procedure (‘‘FRMC 

Procedure’’), and Monthly Clearing 

Fund Sizing Procedure, as these 

procedures would no longer be relevant 

to OCC’s proposed Clearing Fund and 

stress testing methodology and would 

be replaced by the proposed Rules, 

Policy, and Methodology Description 

described herein. 


daltland on DSKBBV9HB2PROD with NOTICES