This PDF is the current document as it appeared on Public Inspection on 11/02/2012 at 08:45 am.
On August 30, 2012, the Options Clearing Corporation (“OCC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change and Advance Notice SR-OCC-2012-14 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”)  and Rule 19b-4 thereunder. The proposed rule change was published for comment in the Federal Register on September 18, 2012  and an Advance Notice was published for comment in the Federal Register on September 27, 2012.
Section 19(b)(2) of the Act  provides that within 45 days of the public 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 for this filing is November 2, 2012. The Commission is extending this 45 day time period.
The proposed rule change relates to OCC's adoption of rules to permit the clearing of Over-the-Counter (“OTC”) options on the S&P 500 Index. In light of the fact that OCC does not currently provide clearing services for OTC products and because no registered clearing agency currently provides clearing services for OTC S&P 500 Index options, the Commission finds 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 this proposed rule change.
Accordingly, the Commission, pursuant to Section 19b(b)(2) of the Act, designates December 17, 2012, 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-2012-14).
For the Commission by the Division of Trading and Markets, pursuant to delegated authority.
Kevin M. O'Neill,
3. Securities Exchange Act Release No. 67835 (September 12, 2012), 77 FR 57602 (September 18, 2012).Back to Citation
4. Securities Exchange Act Release No. 67906 (September 21, 2012), 77 FR 59431 (September 27, 2012).Back to Citation
[FR Doc. 2012-26909 Filed 11-2-12; 8:45 am]
BILLING CODE 8011-01-P