Document ID: SEC-2015-1988-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: The Options Clearing Corp.
Posted Date: 2015-11-27T05:00Z

[Federal Register Volume 80, Number 228 (Friday, November 27, 2015)]
[Notices]
[Page 74179]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-30085]

[[Page 74179]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76496; File No. SR-OCC-2015-016]

Self-Regulatory Organizations; The Options Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Modify The Options Clearing Corporation's 
Margin Methodology by Incorporating Variations in Implied Volatility

November 20, 2015.
    On October 5, 2015, The Options Clearing Corporation (``OCC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-OCC-2015-016 pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 
19b-4 thereunder.\2\ The proposed rule change was published for comment 
in the Federal Register on October 19, 2015.\3\ The Commission did not 
receive any comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4. OCC also filed this proposal as an advance 
notice pursuant to Section 802(e)(1) of the Payment, Clearing, and 
Settlement Supervision Act of 2010 and Rule 19b-4(n)(1) under the 
Exchange Act. 15 U.S.C. 5465(e)(1) and 17 CFR 240.19b-4(n)(1). See 
Securities Exchange Act Release No. 76421 (November 10, 2015), 80 FR 
71900 (November 17, 2015) (SR-OCC-2015-804). To date, the Commission 
has not received any comments on the advance notice.
    \3\ Securities Exchange Act Release No. 76128 (October 13, 
2015), 80 FR 63264 (October 19, 2015) (SR-OCC-2015-016).
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    Section 19(b)(2) of the Exchange 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 the proposed rule change should be 
disapproved. The 45th day from the publication of notice of filing of 
this proposed rule change is December 3, 2015.
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    \4\ 15 U.S.C. 78s(b)(2).
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    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 OCC's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Exchange 
Act,\5\ the Commission designates January 17, 2016, 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-OCC-2015-016).
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    \5\ 15 U.S.C. 19(b)(2)(A)(ii)(I).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-30085 Filed 11-25-15; 8:45 am]
 BILLING CODE 8011-01-P