Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed Rule Change by The Options Clearing Corporation Concerning Amendments to Its Rules To Establish a Procedures-Based Approach for Determining Product Eligibility During Overnight or Extended Trading Sessions Utilizing Its Current ETH Risk Management Framework

b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Clearing Agency's Statement of the Terms of Substance of the Proposed Rule Change This proposed rule change would amend OCC's Rules to establish a procedures-based approach for determining product eligibility during overnight or extended trading sessions (``ETH'') \3\ utilizing its current ETH risk management framework. Currently, the only products that OCC clears in ETH sessions are index options listed by Cboe Global Markets, Inc. (``Cboe'') and index futures listed by Cboe Futures Exchange, LLC (``CFE''). The proposed changes would create a framework for risk managing other products that an ``Exchange'' \4\ may propose to trade outside of regular trading hours while maintaining the established risk management framework.\5\ --------------------------------------------------------------------------- \3\ The term ``ETH'' means trading periods outside of normal exchange trading hours. \4\ OCC's By-Laws define ``Exchange'' to include, among other things, a national securities exchange or a futures market. \5\ See Exchange Act Release Nos. 74268 (Feb. 12, 2015), 80 FR 8917 (Feb. 19, 2015) (SR-OCC- 2014-24) (Order approving Proposed Rule Change concerning Extended and Overnight Trading Sessions, establishing the framework now being expanded) and 74241 (Feb. 10, 2015), 80 FR 8