Federal Register / Vol. 77, No. 77 / Friday, April 20, 2012 / Notices 23767 

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

2 17 CFR 240.19b–4. 

3Flexible Exchange Options (‘‘FLEX Options’’) 

provide investors with the ability to customize 

basic option features including size, expiration 

date, exercise style, and certain exercise prices. 

FLEX Options can be FLEX Index Options or FLEX 

Equity Options. In addition, other products are 

permitted to be traded pursuant to the FLEX trading 

procedures. For example, credit options are eligible 

for trading as FLEX Options pursuant to the FLEX 

rules in Chapters XXIVA and XXIVB. See CBOE 

Rules 24A.1(e) and (f), 24A.4(b)(1) and (c)(1), 

24B.1(f) and (g), 24B.4(b)(1) and (c)(1), and 28.17. 

The rules governing the trading of FLEX Options on 

the FLEX Request for Quote (‘‘RFQ’’) System 

platform (which is limited to open outcry trading 

only) are contained in Chapter XXIVA. The rules 

governing the trading of FLEX Options on the FLEX 

Hybrid Trading System platform (which combines 

both open outcry and electronic trading) are 

contained in Chapter XXIVB. The Exchange notes 

that, currently, all FLEX Options are traded on the 

FLEX Hybrid Trading System platform. 

4See, e.g., SR–CBOE–2012–033. 

5TPHs may also access the CFLEX System using 

an internet-based application. There is currently no 

login fee associated with the internet-based 

application. 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(4). 

Renewed Facility Operating Licenses 

DPR–38, DPR–47, and DPR–55, for the 

Oconee Nuclear Station, Units 1, 2, and 

3, respectively, located in Oconee 

County, South Carolina. 

The proposed amendment would 

approve changes to the updated final 

safety analysis report to allow operation 

of a reverse osmosis system during 

normal plant operation to remove silica 

from the borated water storage tank and 

the spent fuel pool. 

The Commission had previously 

issued a Notice of Consideration of 

Issuance of Amendment published in 

the Federal Register on December 14, 

2010 (75 FR 77911). However, by letter 

dated April 3, 2012 (Agencywide 

Documents and Access Management 

System (ADAMS) Accession No. 

ML12095A184), the licensee withdrew 

the proposed change. 

For further details with respect to this 

action, see the application for 

amendment dated November 15, 2010 

(ADAMS Accession No. ML103220101), 

as supplemented by letters dated 

February 18, 2011 (ADAMS Accession 

No. ML110550616), May 12, 2011 

(ADAMS Accession No. ML11137A112), 

August 2, 2011 (ADAMS Accession No. 

ML11215A198), October 10, 2011 

(ADAMS Accession No. ML11285A302), 

and December 15, 2011 (ADAMS 

Accession No. ML11354A253), and the 

licensee’s letter dated April 3, 2012, 

which withdrew the application for 

license amendment. Documents may be 

examined, and/or copied for a fee, at the 

NRC’s Public Document Room (PDR), 

located at One White Flint North, Public 

File Area O1 F21, 11555 Rockville Pike 

(first floor), Rockville, Maryland. 

Publicly available documents created or 

received at the NRC are accessible 

electronically through the Agencywide 

Documents Access and Management 

System (ADAMS) in the NRC Library at 

http://www.nrc.gov/reading-rm/ 

adams.html. Persons who do not have 

access to ADAMS or who encounter 

problems in accessing the documents 

located in ADAMS should contact the 

NRC PDR Reference staff by telephone 

at 1–800–397–4209, or 301–415–4737 or 

by email to pdr.resource@nrc.gov. 

Dated at Rockville, Maryland, this 12th day 

of April 2012. 

John Stang, 

Senior Project Manager, Plant Licensing 

Branch II–1, Division of Operating Reactor 

Licensing, Office of Nuclear Reactor 

Regulation. 

[FR Doc. 2012–9580 Filed 4–19–12; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66812; File No. SR–CBOE– 

2012–037] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the Fees 

Schedule 

April 16, 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 April 10, 

2012, the Chicago Board Options 

Exchange, Incorporated (the ‘‘Exchange’’ 

or ‘‘CBOE’’) 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 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 its 

Fees Schedule. The text of the proposed 

rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/legal), 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to waive the 

CMI and FIX Login ID fees through 

September 30, 2012 for CMI and FIX 

Login IDs used to access the Exchange’s 

FLEX Hybrid Trading System (the 

‘‘CFLEX System’’) for FLEX Options 3

trading (the ‘‘Waiver’’). CMI Client 

Application Servers and FIX Ports are 

used by Exchange Trading Permit 

Holders (‘‘TPHs’’) to access CBOEdirect, 

which is the platform provided by the 

Exchange to connect to Exchange 

systems. The Exchange assesses a fee of 

$500 per month for each CMI or FIX 

Login ID that a TPH uses to access 

CBOEdirect (and $1000 per month for 

each CMI or FLEX Login ID that a 

Sponsored User uses to access 

CBOEdirect). The Exchange is in the 

process of enhancing the CFLEX System 

in order to further integrate it with the 

Exchange’s existing CBOEdirect 

technology platform.4 As part of these 

enhancements, TPHs will connect to the 

CFLEX System through CBOEdirect, and 

will need to get either a CMI or FIX 

Login ID to do so.5 As such, the 

Exchange proposes the Waiver in order 

to encourage TPHs to trade on the 

CFLEX System. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the Act 

and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.6 Specifically, 

the Exchange believes the proposed rule 

change is consistent with Section 6(b)(4) 

of the Act,7 which provides that 

Exchange rules may provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its TPHs 

and other persons using its facilities. 

The Waiver is reasonable because it will 

allow all TPHs trading FLEX Options on 

the CFLEX System to avoid having to 


tkelley on DSK3SPTVN1PROD with NOTICES
23768 Federal Register / Vol. 77, No. 77 / Friday, April 20, 2012 / Notices 

8The Exchange believes that FLEX Options 

provide TPHs and investors with an improved but 

comparable alternative to the over-the-counter 

(‘‘OTC’’) market in customized options, which can 

take on contract characteristics similar to FLEX 

Options. The Exchange believes market participants 

benefit from being able to trade customized options 

in an exchange environment in several ways, 

including, but not limited to the following: (i) 

Enhanced efficiency in initiating and closing out 

positions; (ii) increased market transparency; and 

(iii) heightened contra-party creditworthiness due 

to the role of The Options Clearing Corporation as 

issuer and guarantor of FLEX Options. 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f). 11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

pay a fee that they would otherwise 

have to pay. The Waiver is equitable 

and not unfairly discriminatory because 

the Exchange believes that the Waiver 

will encourage TPHs to transact 

business in FLEX Options using the 

CFLEX System and encourage trading of 

customized options in an exchange 

environment.8 The Exchange believes 

such increased business will provide 

greater FLEX Options trading 

opportunities for all market 

participants. Also, the transaction fees 

collected from this increased business 

will allow the Exchange to recoup costs 

expended in building and developing 

the CFLEX System. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE does not believe that the 

proposed rule change will impose any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A) 9 of the Act and paragraph (f) 

of Rule 19b–4 10 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. 

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 rulecomments@sec.gov. Please include File 

Number SR–CBOE–2012–037 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 

20549–1090. 

All submissions should refer to File 

Number SR–CBOE–2012–037. 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 a.m. and 3 p.m. Copies of the filing 

also will be available for inspection and 

copying at the principal office of the 

Exchange. 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–CBOE– 

2012–037 and should be submitted on 

or before May 11, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–9526 Filed 4–19–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66813; File No. SR–CME– 

2012–11] 

Self-Regulatory Organizations; 

Chicago Mercantile Exchange Inc.; 

Notice of Filing and Order Granting 

Accelerated Approval of Proposed 

Rule Change To Facilitate Changing its 

Methodology for Calculation of the 

‘‘Cash Mark-to-Market’’ Performance 

Bonds for Cleared OTC FX Swaps 

From SPAN® to HVaR 

April 16, 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 April 2, 

2012, the Chicago Mercantile Exchange 

Inc. (‘‘CME’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change described in Items I and II 

below, which items have been prepared 

primarily by CME. The Commission is 

publishing this Notice and Order to 

solicit comments on the proposed rule 

change from interested persons and to 

approve the proposed rule change on an 

accelerated basis. 

I. Self-Regulatory Organization’s 

Statement of Terms of Substance of the 

Proposed Rule Change 

CME proposes to make certain 

changes that are related to its current 

cleared-only Cleared Over-the-Counter 

(‘‘OTC’’) foreign currency (‘‘FX’’) 

product offering to facilitate changing 

its methodology for calculation of the 

‘‘cash mark-to-market’’ performance 

bonds for OTC FX Swaps from Standard 

Portfolio Analysis (‘‘SPAN®’’) to 

Historical Value at Risk (‘‘HVaR’’). The 

text of the proposed rule change is 

available at CME’s Web site at http:// 

www.cmegroup.com/market-regulation/ 

rule-filings.html. 

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 III below. CME has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of such statements. 


tkelley on DSK3SPTVN1PROD with NOTICES