Document ID: SEC-2020-2093-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: OneChicago, LLC
Posted Date: 2020-12-29T05:00Z

[Federal Register Volume 85, Number 249 (Tuesday, December 29, 2020)]
[Notices]
[Pages 85778-85779]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28687]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90764; File No. 10-133]

Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing 
and Request for Comment on OneChicago, LLC's Notice of Withdrawal of 
Registration as a National Securities Exchange Solely for the Purposes 
of Trading Security Futures Products

December 21, 2020.

I. Introduction

    Notice is hereby given that on September 21, 2020, OneChicago, LLC 
(``OneChicago'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission'') notice of withdrawal of its registration as 
a national securities exchange solely for the purposes of trading 
security futures products, effective September 30, 2020, pursuant to 
Section 19(a)(3) of the Securities Exchange Act of 1934.\1\ OneChicago 
ceased trading operations as of September 18, 2020. The Exchange has 
closed its trading facility and all positions have been closed out as 
of that date.\2\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(a)(3).
    \2\ See letter from Thomas G. McCabe, Chief Regulatory Officer, 
OneChicago, to Vanessa Countryman, Secretary, Commission, dated 
September 21, 2020 (``McCabe Letter'').
---------------------------------------------------------------------------

II. Description

    Prior to September 18, 2020, OneChicago operated as a national 
securities exchange solely for the purposes of trading security futures 
products, pursuant to 15 U.S.C. 78f(g).\3\ On August 13, 2020, 
OneChicago released Notice to Members 2020-07, which announced that its 
controlling ownership, after a strategic review, determined to close 
the Exchange with the last day of trading to be September 18, 2020. 
OneChicago stated that it notified all impacted customers. The Exchange 
also stated that in order to maintain an orderly market through the 
closing process, pursuant to Exchange Rule 421 (Emergencies), on 
September 4, 2020, the Exchange announced that the December 18, 2020 
expiration and the March 19, 2021 expirations would be accelerated to 
September 18, 2020. The Exchange represented that as of September 21, 
2020, it has closed its trading facility and all positions have been 
closed out.\4\
---------------------------------------------------------------------------

    \3\ See McCabe Letter, supra note 2, at 1.
    \4\ See id.
---------------------------------------------------------------------------

    Pursuant to 15 U.S.C. 78s(a)(3), OneChicago filed with the 
Commission a notice of withdrawal from registration as a national 
securities exchange solely for the purposes of trading security futures 
products, effective September 30, 2020. The Exchange stated that, 
pursuant to 7 U.S.C. 11, it also requested that, effective December 21, 
2020, the Commodity Futures Trading Commission (``CFTC'') vacate 
OneChicago's registration as a designated contract market.\5\ Pursuant 
to 15 U.S.C. 78f(g)(2)(C), the Exchange's registration as a national 
securities exchange solely for the purposes of trading security futures 
products would terminate when the CFTC's vacation order is effective, 
as OneChicago will no longer meet the condition of being designated by 
the CFTC as a contract market. Nonetheless, OneChicago filed a notice 
of withdrawal to take affirmative action to withdraw its registration, 
effective September 30, 2020.
---------------------------------------------------------------------------

    \5\ See id.
---------------------------------------------------------------------------

    Subsequent to the submission of the notice of withdrawal, the 
Exchange has represented to the Commission that it will maintain, for a 
period of 5 years from the effective date of the withdrawal of 
OneChicago's registration as a national securities exchange solely for 
the purposes of trading security futures products, all documents, 
books, and records, including correspondence, memoranda, papers, 
notices, accounts and other records (collectively ``records'') made or 
received by it in connection with proposed rule changes filed with the 
Commission or in connection with its operations as a national 
securities exchange as required

[[Page 85779]]

to be maintained under Rule 17a-1(a) and (b),\6\ and produce such 
records and furnish such information at the request of any 
representative of the Commission.\7\
---------------------------------------------------------------------------

    \6\ See 17 CFR 240.17a-1(a) and (b).
    \7\ See email from David Downey, Chief Executive Officer, 
OneChicago, to David Dimitrious, Division of Trading and Markets, 
dated December 4, 2020.
---------------------------------------------------------------------------

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the notice of 
withdrawal 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).

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 10-133. 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 website (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 website 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 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. Persons submitting comments are 
cautioned that we do not redact or edit personal identifying 
information from comment submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number 10-133, and should be submitted on or 
before January 19, 2021.

    By the Commission.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020-28687 Filed 12-28-20; 8:45 am]
BILLING CODE 8011-01-P