Self-Regulatory Organizations; The Options Clearing Corporation; Order Setting Aside Action by Delegated Authority and Approving Proposed Rule Change, as Modified by Partial Amendment No. 1, by The Options Clearing Corporation Concerning Methodology To Allocate Clearing Fund Deposit Requirements Among Its Clearing Members To Better Align the Allocation With the Sizing of the Clearing Fund so Stress Based Risk is Fairly Allotted to Market Participants That Expose OCC to Such Stress Risk

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-106573; File No. SR-OCC-2025-018] October 2, 2026. I. Introduction On September 26, 2025, the Options Clearing Corporation (“OCC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change SR-OCC-2025-018, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”)  [ 1 ] and Rule 19b-4  [ 2 ] thereunder, to amend its allocation methodology for the Clearing Fund  [ 3 ] deposit requirements of its Clearing Members by realigning the allocation to correspond to the sizing of the Clearing Fund so that certain stress-based risk is proportionally allotted to market participants that expose OCC to such risk. [ 4 ] On December 11, 2025, the Commission, acting through authority delegated to the Division of Trading and Markets, [ 5 ] approved the Proposed Rule Change (“Delegated Order”). [ 6 ] On December 18, 2025, Fidelity Investments (“Fidelity” or “Petitioner”)  [ 7 ] filed a notice of its intention to petition for review, [ 8 ] pursuant to Rule 430 of the Commission's Rules of Practice. [ 9 ] Pursuant to Commission Rule of Practice 431(e), the Delegated Order was stayed by the filing with the Commission of a notice of intention to petition for review. [ 10 ] On December 24, 2025, Fidelity submitted its Petition for Review (“Petition”) of the Delegated Order. [ 11 ] …