Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Partial Amendment No. 1, by the Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility

---
identifier: "/us/fr/2024-27753"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Partial Amendment No. 1, by the Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility"
title_number: 0
title_name: "Federal Register"
section_number: "2024-27753"
section_name: "Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Partial Amendment No. 1, by the Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility"
positive_law: false
currency: "2024-11-27"
last_updated: "2024-11-27"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Securities and Exchange Commission"
document_number: "2024-27753"
document_type: "notice"
publication_date: "2024-11-27"
agencies:
  - "Securities and Exchange Commission"
fr_citation: "89 FR 93693"
fr_volume: 89
docket_ids:
  - "Release No. 34-101684"
  - "File No. SR-OCC-2024-014"
---


#  Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change, as Modified by Partial Amendment No. 1, by the Options Clearing Corporation Concerning Its Process for Adjusting Certain Parameters in Its Proprietary System for Calculating Margin Requirements During Periods When the Products It Clears and the Markets It Serves Experience High Volatility

On October 1, 2024, the Options Clearing Corporation (“OCC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change SR-OCC-2024-014, pursuant to Section 19(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [^1] and Rule 19b-4 [^2] thereunder, to codify OCC's process for adjusting certain parameters in its proprietary system for calculating margin requirements during periods when the products OCC clears and the markets it serves experience high volatility. [^3] The proposed rule change, as modified by Partial Amendment no. 1 (hereinafter, the “Proposed Rule Change”), was published for public comment in the *Federal Register* on October 9, 2024. [^4] The Commission has received no comments regarding the Proposed Rule Change.

[^1] 15 U.S.C. 78s(b)(1).

[^2] 17 CFR 240.19b-4.

[^3]*See* Notice of Filing *infra* note 4, at 89 FR 81958.

[^4] Securities Exchange Act Release No. 101246 (Oct. 3, 2024), 89 FR 81958 (Oct. 9, 2024) (File No. SR-OCC-2024-014) (“Notice of Filing”).

Section 19(b)(2)(i) of the Exchange Act [^5] provides that, within 45 days of the publication of notice of the filing of a proposed rule change, 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 unless the Commission extends the period within which it must act as provided in Section 19(b)(2)(ii) of the Exchange Act. [^6] Section 19(b)(2)(ii) of the Exchange Act allows the Commission to designate a longer period for review (up to 90 days from the publication of notice of the filing of a proposed rule change) if the Commission finds such longer period to be appropriate and publishes  its reasons for so finding, or as to which the self-regulatory organization consents. [^7]

[^5] 15 U.S.C. 78s(b)(2)(i).

[^6] 15 U.S.C. 78 s(b)(2)(ii).

[^7]*Id.*

The 45th day after publication of the Notice of Filing is November 23, 2024. In order to provide the Commission with sufficient time to consider 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 and therefore is extending this 45-day time period.

Accordingly, the Commission, pursuant to Section 19(b)(2) of the Exchange Act, [^8] designates January 7, 2025, as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove proposed rule change SR-OCC-2024-014.

[^8]*Id.*

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. [^9]

[^9] 17 CFR 200.30-3(a)(12).

Sherry R. Haywood,

Assistant Secretary.