73922 Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices 

7 15 U.S.C. 78q–1. 

8 15 U.S.C. 78s(b)(3)(A). 

9 17 CFR 240.19b–4(f)(4)(ii). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(4)(ii). 

12 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

activities as a DCO clearing swaps that 

are not security-based swaps, futures 

that are not security futures and 

forwards that are not security forwards. 

CME notes that the policies of the CFTC 

with respect to administering the 

Commodity Exchange Act are 

comparable to a number of the policies 

underlying the Exchange Act, such as 

promoting market transparency for overthe-counter derivatives markets, 

promoting the prompt and accurate 

clearance of transactions and protecting 

investors and the public interest. 

Because the proposed change is 

limited in its effect to products offered 

under CME’s authority to act as a DCO, 

the proposed change is properly 

classified as effecting a change in an 

existing service of CME that: 

(a) Primarily affects the clearing 

operations of CME with respect to 

products that are not securities, 

including futures that are not security 

futures, swaps that are not securitybased swaps or mixed swaps; and 

forwards that are not security forwards; 

and 

(b) does not significantly affect any 

securities clearing operations of CME or 

any rights or obligations of CME with 

respect to securities clearing or persons 

using such securities-clearing service. 

As such, the change is therefore 

consistent with the requirements of 

Section 17A of the Exchange Act 7 and 

are properly filed under Section 

19(b)(3)(A) 8 and Rule 19b–4(f)(4)(ii) 9

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. The proposed amendment 

would simply establish independent 

position accountability levels for CME’s 

USD Malaysian Crude Palm Oil 

Calendar Swap. Further, the change is 

limited to CME’s derivatives clearing 

business and, as such, does not affect 

security-based swap clearing activities 

of CME in any way and therefore would 

not impose any burden on competition 

that is inappropriate 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 

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 has become 

effective pursuant to Section 

19(b)(3)(A) 10 of the Act and paragraph 

(f)(4)(ii) of Rule 19b–4 11 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 rule-comments@

sec.gov. Please include File No. SR– 

CME–2014–54 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 

Number SR–CME–2014–54. 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 

10:00 a.m. and 3:00 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/marketregulation/rule-filings.html. 

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–2014–54 and should 

be submitted on or before January 2, 

2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29178 Filed 12–11–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73778; File No. SR– 

NYSEMKT–2014–99] 

Self-Regulatory Organizations; NYSE 

MKT LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Commentary 

.02 to NYSE Amex Options Rule 960NY 

in Order To Extend the Penny Pilot in 

Options Classes in Certain Issues 

Through June 30, 2015 

December 8, 2014. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on November 

26, 2014, NYSE MKT LLC (the 

‘‘Exchange’’ or ‘‘NYSE MKT’’) 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 prepared by the selfregulatory organization. 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 

Commentary .02 to NYSE Amex Options 

Rule 960NY in order to extend the 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices 73923 

4See Securities Exchange Act Release No. 72190 

(May 20, 2014), 79 FR 30215 (May 27, 2014) (SR– 

NYSEMKT–2014–47). 

5The month immediately preceding a 

replacement class’s addition to the Pilot Program 

(i.e., December) would not be used for purposes of 

the analysis for determining the replacement class. 

Thus, a replacement class to be added on the 

second trading day following January 1, 2015 would 

be identified based on The Option Clearing 

Corporation’s trading volume data from June 1, 

2014 through November 30, 2014. The Exchange 

will announce the replacement issues to the 

Exchange’s membership through a Trader Update. 

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

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78s(b)(3)(A)(iii). 

9 17 CFR 240.19b–4(f)(6). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s intent 

to file the proposed rule change along with a brief 

description and the text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has satisfied this pre-filing requirement. 

12 17 CFR 240.19b–4(f)(6)(iii). 

13 15 U.S.C. 78s(b)(2)(B). 

Penny Pilot in options classes in certain 

issues (‘‘Pilot Program’’) previously 

approved by the Securities and 

Exchange Commission (‘‘Commission’’) 

through June 30, 2015. The text of the 

proposed rule change is available on the 

Exchange’s Web site at www.nyse.com, 

at the principal office of the Exchange, 

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 

self-regulatory organization 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 those 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 parts 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 hereby proposes to 

amend Commentary .02 to Exchange 

Rule 960NY to extend the time period 

of the Pilot Program,4 which is currently 

scheduled to expire on December 31, 

2014, through June 30, 2015. The 

Exchange also proposes that the dates to 

replace issues in the Pilot Program that 

have been delisted be revised to the 

second trading day following January 1, 

2015.5

This filing does not propose any 

substantive changes to the Pilot 

Program: All classes currently 

participating will remain the same and 

all minimum increments will remain 

unchanged. The Exchange believes the 

benefits to public customers and other 

market participants who will be able to 

express their true prices to buy and sell 

options have been demonstrated to 

outweigh the increase in quote traffic. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 6 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’), in general, and furthers the 

objectives of Section 6(b)(5),7 in 

particular, in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, and to remove 

impediments to and perfect the 

mechanisms of a free and open market 

and a national market system. The 

Exchange believes that the Pilot 

Program promotes just and equitable 

principles of trade by enabling public 

customers and other market participants 

to express their true prices to buy and 

sell options. The proposal to extend the 

Pilot Program is designed to promote 

just and equitable principles of trade, to 

foster cooperation and coordination 

with persons engaged in facilitating 

transactions in securities, and to remove 

impediments to and perfect the 

mechanisms of a free and open market 

and a national market system, by 

allowing the Exchange and the 

Commission additional time to analyze 

the impact of the Pilot Program while 

also allowing the Exchange to continue 

to compete for order flow with other 

exchanges in option issues trading as 

part of the Pilot Program. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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. Specifically, 

the Exchange believes that, by extending 

the expiration of the Pilot Program, the 

proposed rule change will allow for 

further analysis of the Pilot Program and 

a determination of how the Program 

should be structured in the future. In 

doing so, the proposed rule change will 

also serve to promote regulatory clarity 

and consistency, thereby reducing 

burdens on the marketplace and 

facilitating investor protection. The 

Pilot Program is an industry wide 

initiative supported by all other option 

exchanges. The Exchange believes that 

extending the Pilot Program will allow 

for continued competition between 

NYSE Amex Options market 

participants trading similar products as 

their counterparts on other exchanges, 

while at the same time allowing the 

Exchange to continue to compete for 

order flow with other exchanges in 

option issues trading as part of the Pilot 

Program. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 8 and Rule 

19b–4(f)(6) thereunder.9 Because the 

proposed rule change does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act and Rule 

19b–4(f)(6)(iii) thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 10 normally does not 

become operative prior to 30 days after 

the date of the filing.11 However, 

pursuant to Rule 19b–4(f)(6)(iii),12 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. 

At any time within 60 days of the 

filing of such 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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 13 of the Act to 

determine whether the proposed rule 

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73924 Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices 

14 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 73441 

(October 27, 2014), 79 FR 64862. 

4 15 U.S.C. 78s(b)(2). 

5 15 U.S.C. 78s(b)(2)(A)(ii)(I). 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 34–73451 

(Oct. 28, 2014), 79 FR 65280 (Nov. 3, 2014) (SR– 

ICC–2014–17). 

change should be approved or 

disapproved. 

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 rule-comments@

sec.gov. Please include File Number SR– 

NYSEMKT–2014–99 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 

Number SR–NYSEMKT–2014–99. 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 Section, 100 F Street NE., 

Washington, DC 20549–1090 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing will also be available for 

inspection and copying at the NYSE’s 

principal office and on its Internet Web 

site at www.nyse.com. 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– 

NYSEMKT–2014–99 and should be 

submitted on or before January 2, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29103 Filed 12–11–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73791; File No. SR–Phlx– 

2014–66] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Designation of Longer Period for 

Commission Action on Proposed Rule 

Change To Adopt New Exchange Rule 

1081, Solicitation Mechanism, To 

Introduce a New Electronic Solicitation 

Mechanism 

December 8, 2014. 

On October 14, 2014, NASDAQ OMX 

PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

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

19b–4 thereunder,2 a proposed rule 

change to adopt new Exchange Rule 

1081, Solicitation Mechanism, to 

introduce a new electronic solicitation 

mechanism pursuant to which a 

member can electronically submit all-ornone orders of 500 contracts or more (or, 

in the case of mini options, 5000 

contracts or more) the member 

represents as agent against contra orders 

the member solicited. The proposed rule 

change was published for comment in 

the Federal Register on October 31, 

2014.3 The Commission has received no 

comment letters on the proposal. 

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether these 

proposed rule changes should be 

disapproved. The 45th day for this filing 

is December 15, 2014. 

The Commission is extending the 45- 

day time period for Commission action 

on 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 so that it has sufficient time 

to consider and take action on the 

Exchange’s proposed rule change. 

Accordingly, pursuant to Section 

19(b)(2)(A)(ii)(I) of the Act 5 and for the 

reasons stated above, the Commission 

designates January 29, 2015, as the date 

by which the Commission should either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–Phlx–2014–66). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–29182 Filed 12–11–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73790; File No. SR–ICC– 

2014–17] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Order Granting 

Approval of Proposed Rule Change To 

Revise ICC End-of-Day Price Discovery 

Policies and Procedures 

December 8, 2014. 

I. Introduction 

On October 17, 2014, ICE Clear Credit 

LLC (‘‘ICC’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change SR–ICC–2014–17 pursuant to 

Section 19(b)(1) of the Securities 

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

19b–4 thereunder.2 The proposed rule 

change was published for comment in 

the Federal Register on November 3, 

2014.3 The Commission received no 

comment letters regarding the proposed 

change. For the reasons discussed 

below, the Commission is granting 

approval of the proposed rule change. 

II. Description of the Proposed Rule 

Change 

ICC is proposing this change to revise 

the ICC End-of-Day Price Discovery 

Policies and Procedures to incorporate 

enhancements to its price discovery 

mstockstill on DSK4VPTVN1PROD with NOTICES