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[Federal Register Volume 89, Number 229 (Wednesday, November 27, 2024)]
[Notices]
[Pages 93693-93694]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27753]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-101684; File No. SR-OCC-2024-014]

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change, as Modified by Partial Amendment No. 1, by the 
Options Clearing Corporation Concerning Its Process for Adjusting 
Certain Parameters in Its Proprietary System for Calculating Margin 
Requirements During Periods When the Products It Clears and the Markets 
It Serves Experience High Volatility

November 21, 2024.
    On October 1, 2024, the Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2024-014, pursuant to Section 19(b) of the 
Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
\2\ thereunder, to codify OCC's process for adjusting certain 
parameters in its proprietary system for calculating margin 
requirements during periods when the products OCC clears and the 
markets it serves experience high volatility.\3\ The proposed rule 
change, as modified by Partial Amendment no. 1 (hereinafter, the 
``Proposed Rule Change''), was published for public comment in the 
Federal Register on October 9, 2024.\4\ The Commission has received no 
comments regarding the Proposed Rule Change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, at 89 FR 81958.
    \4\ Securities Exchange Act Release No. 101246 (Oct. 3, 2024), 
89 FR 81958 (Oct. 9, 2024) (File No. SR-OCC-2024-014) (``Notice of 
Filing'').
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    Section 19(b)(2)(i) of the Exchange Act \5\ 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.\6\ 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

[[Page 93694]]

its reasons for so finding, or as to which the self-regulatory 
organization consents.\7\
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    \5\ 15 U.S.C. 78s(b)(2)(i).
    \6\ 15 U.S.C. 78 s(b)(2)(ii).
    \7\ Id.
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    The 45th day after publication of the Notice of Filing is November 
23, 2024. 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,\8\ designates January 7, 2025, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-OCC-2024-
014.
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    \8\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-27753 Filed 11-26-24; 8:45 am]
BILLING CODE 8011-01-P
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