46136 Federal Register / Vol. 73, No. 153 / Thursday, August 7, 2008 / Notices 

16 15 U.S.C. 78q–1(b)(3)(F). 

17 15 U.S.C. 78s(b)(2). 

18 15 U.S.C. 78q–1. 

19 15 U.S.C. 19s(b)(2). 

20 In approving the proposed rule change, the 

Commission considered the proposal’s impact on 

efficiency, competition and capital formation. 15 

U.S.C. 78c(f). 

21 17 CFR 200.30–3(a)(12). 

III. Commission’s Findings and Order 

Granted Accelerated Approval of the 

Proposed Rule Change 

Section 17A(b)(3)(F) of the Act 16

requires the rules of a clearing agency to 

assure the safeguarding of securities and 

funds that are in the custody or control 

of the clearing agency or for which it is 

responsible. The Commission believes 

the proposal is consistent with this 

requirement because money market 

fund shares are already an acceptable 

form of margin asset that may be 

deposited at OCC and are subject to 

OCC’s prudent controls. Moreover, the 

use of money market fund shares for 

cross-margining purposes should further 

diversify the portfolio of assets that may 

be deposited to collateralize crossmargin accounts thereby enhancing 

OCC’s ability to access financial 

instruments that are relatively liquid 

and stable in value. Accordingly, the 

proposed rule change should not affect 

OCC’s ability to assure the safeguarding 

of securities and funds in its custody or 

control or for which it is responsible. 

Pursuant to section 19(b)(2) of the 

Act,17 OCC has requested the 

Commission to approve the proposed 

rule change prior to the thirtieth day 

after the date of publication of notice of 

the filing. The Commission finds good 

cause for approving because the new 

OCC/CME cross-margining program is 

based on and is substantially similar to 

other cross-margining programs that the 

Commission has approved and because 

such approval will allow OCC to 

implement the new program in late July 

pursuant to its implementation 

schedule. 

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 e-mail to rulecomment@sec.gov. Please include File 

No. SR–OCC–2008–12 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File No. 

SR–OCC–2008–12. This file number 

should be included on the subject line 

if e-mail 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 inspection and copying 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. to 3 p.m. 

Copies of such filing also will be 

available for inspection and copying at 

OCC’s principal office and on OCC’s 

Web site at http://www.theocc.com/ 

publications/rules/proposed_changes/ 

proposed_changes.jsp. 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 No. OCC–2008–12 

and should be submitted on or before 

August 28, 2008. 

V. Conclusion 

On the basis of the foregoing, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and in 

particular section 17A of the Act 18 and 

the rules and regulations thereunder. 

It is therefore ordered, pursuant to 

section 19(b)(2) of the Act,19 that the 

proposed rule change (SR–OCC–2008–

12) be, and it hereby is, approved on an 

accelerated basis.20

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–18237 Filed 8–6–08; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Newark Liberty International Airport 

Slots; Request for Bids 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of availability. 

SUMMARY: The FAA plans to auction a 

lease for a package of slots at Newark 

Liberty International Airport on 

September 3, 2008. If you are interested 

in participating in the auction, 

commenting on the planned auction 

procedures or draft lease terms, you will 

be able to find additional information 

and procedures for providing comments 

at http://faaco.faa.gov. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Jeffrey Wharff, Federal Aviation 

Administration, Office of Aviation 

Policy and Plans, 800 Independence 

Avenue, SW., Washington, DC 20591; 

telephone: 202 267–3274; His e-mail is 

Jeffrey.Wharff@FAA.gov. 

Issued in Washington, DC, on August 5, 

2008. 

Nan Shellabarger, 

Acting Deputy Assistant Administrator for 

Policy, Planning, and Environment. 

[FR Doc. E8–18356 Filed 8–6–08; 8:45 am] 

BILLING CODE 4910–13–P 


sroberts on PROD1PC70 with NOTICES