16572 Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Notices 

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)(i). 

SYSTEM MANAGER(S) AND ADDRESS: 

Associate Executive Director, Office of 

Human Resources, Securities and 

Exchange Commission, Operations 

Center, 6432 General Green Way, Mail 

Stop 0–1, Alexandria, VA 22312–2413. 

NOTIFICATION PROCEDURE: 

All requests to determine whether this 

system of records contains a record 

pertaining to the requesting individual 

may be directed to the FOIA/PA Officer, 

Securities and Exchange Commission, 

100 F Street NE., Washington, DC 

20549–5100. 

RECORD ACCESS PROCEDURES: 

Persons wishing to obtain information 

on the procedures for gaining access to 

or contesting the contents of these 

records may contact the FOIA/PA 

Officer, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–5100. 

CONTESTING RECORD PROCEDURES: 

See Record access procedures above. 

RECORD SOURCE CATEGORIES: 

All information is provided by Fitness 

Center members. 

EXEMPTION CLAIMED FOR THE SYSTEM: 

None. 

Dated: March 15, 2012. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2012–6788 Filed 3–20–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66601; File No. SR–CME– 

2012–07] 

Self-Regulatory Organizations; 

Chicago Mercantile Exchange Inc.; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Add Additional Series of 

Credit Default Index Swaps Available 

for Clearing 

March 15, 2012. 

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 March 9, 

2012, Chicago Mercantile Exchange Inc. 

(‘‘CME’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change described in 

Items I, II and III below, which items 

have been prepared primarily by CME. 

CME filed the proposed rule change 

pursuant to Section 19(b)(3)(A) 3 of the 

Act and Rule 19b–4(f)(4)(i) 4 thereunder. 

I. Self-Regulatory Organization’s 

Statement of Terms of Substance of the 

Proposed Rule Change 

The text of the proposed rule change 

is below. Italicized text indicates 

additions; bracketed text indicates 

deletions. 

* * * * * 

CHICAGO MERCANTILE EXCHANGE 

INC. RULEBOOK 

Rule 100—80203—No Change. 

CME Chapter 802 Rules: Appendix I 

Appendix 1 

CDX INDICES

CDX Index Series 

Termination date 

(scheduled termination) 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 9 20 Dec 2012. 

20 Dec 2014. 

20 Dec 2017. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 10 20 Jun 2013. 

20 Jun 2015. 

20 Jun 2018. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 11 20 Dec 2011. 

20 Dec 2013. 

20 Dec 2015. 

20 Dec 2018. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 12 20 Jun 2012. 

20 Jun 2014. 

20 Jun 2016. 

20 Jun 2019. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 13 20 Dec 2012. 

20 Dec 2014. 

20 Dec 2016. 

20 Dec 2019. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 14 20 Jun 2013. 

20 Jun 2015. 

20 Jun 2017. 

20 Jun 2020. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 15 20 Dec 2013. 

20 Dec 2015. 

20 Dec 2017. 

20 Dec 2020. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 16 20 Jun 2014. 

20 Jun 2016. 

20 Jun 2018. 

20 Jun 2021. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 17 20 Dec 2014. 

20 Dec 2016. 

20 Dec 2018. 


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Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Notices 16573 

CDX INDICES—Continued 

CDX Index Series 

Termination date 

(scheduled termination) 

20 Dec 2021. 

CDX North American Investment Grade (CDX.NA.IG) .............................................................................. 18 20 Dec 2014. 

20 Dec 2016. 

20 Dec 2018. 

20 Dec 2021. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 11 20 Dec 2013. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 12 20 Jun 2014. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 13 20 Dec 2014. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 14 20 Jun 2015. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 15 20 Dec 2015. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 16 20 Jun 2016. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 17 20 Dec 2016. 

CDX North American High Yield (CDX.NA.HY) ......................................................................................... 18 20 Jun 2017. 

* * * * * 

Rule 80301—End—No change 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of Purpose of, and Statutory 

Basis for, the Proposed Rule Change 

In its filing with the Commission, 

CME included statements concerning 

the purpose 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. CME has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 

A. Self-Regulatory Organization’s 

Statement of Purpose of, and Statutory 

Basis for, the Proposed Rule Change 

CME offers clearing services for 

certain credit default swap index 

products. Currently, CME offers clearing 

of the Markit CDX North American 

Investment Grade Series 9, 10, 11, 12, 

13, 14, 15, 16 and 17 and also offers 

clearing of the Markit CDX North 

American High Yield Series 11, 12, 13, 

14, 15, 16 and 17. 

The proposed rule changes that are 

the subject of this filing are intended to 

expand CME’s Markit CDX North 

American Investment Grade and Markit 

CDX North American High Yield 

product offerings by incorporating the 

upcoming Series 18 for both sets of 

index products. 

The proposed rule changes that are 

the subject of this filing became 

immediately effective upon filing this 

proposed rule change with the 

Commission. CME notes that it has also 

certified the proposed rule changes that 

are the subject of this filing to its 

primary regulator for swaps, the 

Commodity Futures Trading 

Commission (‘‘CFTC’’). The text of the 

CME proposed rule change is included 

above, with additions italicized and 

deletions in brackets. 

The proposed CME rule change 

merely incorporates one additional 

series to CME’s existing offering of 

broad-based Markit CDX North 

American Investment Grade and CDX 

North American High Yield credit 

default swaps. As such, the proposed 

amendments simply effect changes to an 

existing service of a registered clearing 

agency that (1) do not adversely affect 

the safeguarding of securities or funds 

in the custody or control of the clearing 

agency or for which it is responsible and 

(2) do not significantly affect the 

respective rights or obligations of the 

clearing agency or persons using its 

clearing agency services. Therefore, the 

proposed rule change is therefore 

properly filed under Section 19(b)(3)(A) 

and Rule 19b–4(f)(4)(i) thereunder. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CME does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

CME has not solicited and does not 

intend to solicit comments regarding 

this proposed rule change. CME has not 

received any unsolicited written 

comments from interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change was filed 

pursuant to Section 19(b)(3)(A) of the 

Act and paragraph (f)(4)(i) of Rule 19b– 

4 thereunder and therefore became 

effective on filing. At any time within 

sixty days of the filing of such 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. 

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 may be 

submitted by using the Commission’s 

Internet comment form (http:// 

www.sec.gov/rules/sro.shtml), or send 

an email to rule-comments@sec.gov. 

Please include File No. SR–CME–2012– 

07 on the subject line. 

• Paper comments should be sent in 

triplicate to Elizabeth M. Murphy, 

Secretary, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC, 20549–1090. 

All submissions should refer to File 

Number SR–CME–2012–07. 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 


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16574 Federal Register / Vol. 77, No. 55 / Wednesday, March 21, 2012 / Notices 

5 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The proposed rule change is substantially 

similar in all material respects to Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’) Rule 3230 

(Telemarketing), which the Commission recently 

approved. See Securities Exchange Act Release No. 

66279 (Jan. 30, 2012), 77 FR 5611 (Feb. 3, 2012) 

(SR–FINRA–2011–059) (approval order of proposed 

rule change to adopt telemarketing rule). The 

proposed rule change amends the name of Rule 9.24 

from Telephone Solicitation to Telemarketing. 

4The Exchange adopted Rule 9.24, effective 

December 13, 2005, in response to the 

recommendations of an industry task force, 

comprised of representatives from various industry 

regulatory and self-regulatory organizations, formed 

to review broker-dealer telemarketing practices and 

compliance with the Telephone Consumer 

Protection Act of 1991 (‘‘TCPA’’), 47 U.S.C. 227, as 

well as with Federal Communications Commission 

(‘‘FCC’’) rules and regulations that implemented the 

TCPA. See Securities Exchange Act Release No. 

36588 (Dec. 13, 1995), 60 FR 65703 (Dec. 20, 21995) 

(SR–CBOE–1995–063) (order approving adoption of 

Rule 9.24). 

5The proposed rule change also amends 

Appendix A to the CBOE Stock Exchange, LLC 

(‘‘CBSX’’) Rules to explicitly incorporate proposed 

Rule 9.24 CBSX Rules. CBSX is a stock trading 

facility of CBOE. 

6 15 U.S.C. 6101–6108. 

7 16 CFR 310.1–.9. The FTC adopted these rules 

under the Prevention Act in 1995. See Federal 

Trade Commission, Telemarketing Sales Rule, 60 

FR 43842 (Aug. 23, 1995). 

8 15 U.S.C. 6102. 

9See Telemarketing and Consumer Fraud and 

Abuse Prevention Act; Determination that No 

Additional Rulemaking Required, Securities 

Exchange Act Release No. 38480 (Apr. 7, 1997), 62 

FR 18666 (Apr. 16, 1996). The Commission also 

determined that some provisions of the FTC’s 

telemarketing rules related to areas already 

extensively regulated by existing securities laws or 

activities not applicable to securities transactions 

See id. 

10See Securities Exchange Act Release No. 39010 

(Sept. 3, 1997), 62 FR 47712 (Sept. 10, 1997) (SR– 

CBOE–1997–039) (order granting accelerated 

approval of amendments to Rule 9.24). 

11See, e.g., Federal Trade Commission, 

Telemarketing Sales Rule, 73 FR 51164 (Aug. 29, 

2008) (amendments to the Telemarketing Sales Rule 

relating to prerecorded messages and call 

abandonments); and Federal Trade Commission, 

Telemarketing Sales Rule, 68 FR 4580 (Jan. 29, 

2003) (amendments to the Telemarketing Sales Rule 

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 

a.m. and 3 p.m. Copies of such filing 

also will be available for inspection and 

copying at the principal office of CME 

and on CME’s Web site at http:// 

www.cmegroup.com/market-regulation/ 

files/SEC_19b-4_x12-07x.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–CME–2012–07 and should 

be submitted on or before April 11, 

2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.5

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–6763 Filed 3–20–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66609; File No. SR–CBOE– 

2012–024] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to Telemarketing 

Rules 

March 15, 2012. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on March 2, 

2012, the Chicago Board Options 

Exchange, Incorporated (the ‘‘Exchange’’ 

or ‘‘CBOE’’) filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

substantially prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Rule 9.24, Telephone Solicitation, to 

revise and add provisions that are 

substantially similar to Federal Trade 

Commission (‘‘FTC’’) rules that prohibit 

deceptive and other abusive 

telemarketing acts or practices.3 The 

text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.cboe.com/AboutCBOE/ 

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

and at the Commission’s Public 

Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange 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. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Rule 9.24, Telephone Solicitation,4 to 

revise and add provisions that are 

substantially similar to FTC rules that 

prohibit deceptive and other abusive 

telemarketing acts or practices.5 Rule 

9.24 requires Trading Permit Holders to, 

among other things, maintain do-notcall lists, limit the hours of telephone 

solicitations, and not use deceptive and 

abusive acts and practices in connection 

with telemarketing. The Commission 

directed CBOE to enact these 

telemarketing rules in accordance with 

the Telemarketing Consumer Fraud and 

Abuse Prevention Act of 1994 

(‘‘Prevention Act’’).6 The Prevention Act 

requires the Commission to promulgate, 

or direct any national securities 

exchange or registered securities 

association to promulgate, rules 

substantially similar to the FTC rules 7

to prohibit deceptive and other abusive 

telemarketing acts or practices, unless 

the Commission determines either that 

the rules are not necessary or 

appropriate for the protection of 

investors or the maintenance of orderly 

markets, or that existing federal 

securities laws or Commission rules 

already provide for such protection.8

In 1997, the Commission determined 

that telemarketing rules promulgated 

and expected to be promulgated by selfregulatory organizations, together with 

the other rules of the self-regulatory 

organizations, the federal securities laws 

and the Commission’s rules thereunder, 

satisfied the requirements of the 

Prevention Act because, at the time, the 

applicable provisions of those laws and 

rules were substantially similar to the 

FTC’s telemarketing rules.9 CBOE 

amended Rule 9.24 at that time in 

response to the Commission’s 

determination.10 Since 1997, the FTC 

has amended its telemarketing rules in 

light of changing telemarketing practices 

and technology.11


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