80_FR_38616 80 FR 38488 - Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Finance Procedures To Add Clearstream Banking as a Triparty Collateral Service Provider

80 FR 38488 - Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Finance Procedures To Add Clearstream Banking as a Triparty Collateral Service Provider

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 128 (July 6, 2015)

Page Range38488-38489
FR Document2015-16410

Federal Register, Volume 80 Issue 128 (Monday, July 6, 2015) 
[Federal Register Volume 80, Number 128 (Monday, July 6, 2015)]
[Notices]
[Pages 38488-38489]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-16410]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75320; File No. SR-ICEEU-2015-009]


Self-Regulatory Organizations; ICE Clear Europe Limited; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change Relating to Finance Procedures To Add Clearstream Banking as a 
Triparty Collateral Service Provider

June 29, 2015.
    On May 5, 2015, ICE Clear Europe Limited (``ICEEU'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to modify the 
Finance Procedures to allow Clearstream Banking to serve as a triparty 
collateral service provider for initial or original margin provided in 
respect of all product categories, including CDS Contracts. The 
proposed rule change was published for comment in the Federal Register 
on May 15, 2015.\3\ To date, the Commission has not received comments 
on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-74922 (May 11, 2015), 
80 FR 28035 (May 15, 2015) (File No. SR-ICEEU-2015-009).
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication 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 from the publication of notice of filing of this proposed rule 
change is June 29, 2015. The Commission is extending this 45-

[[Page 38489]]

day time period. In order to provide the Commission with sufficient 
time to consider the proposed rule change, the Commission finds it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change.
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    \4\ 15 U.S.C. 78s(b)(2).
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates August 13, 2015, 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-
ICEEU-2015-009).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-16410 Filed 7-2-15; 8:45 am]
 BILLING CODE 8011-01-P

38488 Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices and a national market system, and, in equitable principles of trade and benefit proposed rule change (SR–NYSEMKT– general, to protect investors and the investors and the public interest.43 2015–17) be, and hereby is, approved. public interest. Further, before any changes to a Market For the Commission, by the Division of The Commission believes that the Maker’s appointment become effective, Trading and Markets, pursuant to delegated proposal to permit an ATP holder the Exchange will be required to authority.49 approved as a registered Market Maker confirm that the Market Maker’s Robert W. Errett, pursuant to Exchange Rule 921NY to appointment will not exceed the Deputy Secretary. register for and withdraw from options number of ATPs a Market Maker is [FR Doc. 2015–16412 Filed 7–2–15; 8:45 am] appointments, subject to the proposed required to have and will also be BILLING CODE 8011–01–P conditions and in accordance with the required to confirm receipt of the other provisions of Rule 923NY, is Market Maker’s request.44 reasonably designed to prevent The Commission notes that the SECURITIES AND EXCHANGE fraudulent and manipulative acts and Exchange has proposed to add a Market COMMISSION practices, to promote just and equitable Maker’s available financial resources principles of trade, to foster cooperation and operational capability as factors the [Release No. 34–75320; File No. SR–ICEEU– and coordination with persons engaged Exchange may consider during its 2015–009] in facilitating transactions in securities, periodic evaluation of a Market Maker’s Self-Regulatory Organizations; ICE to remove impediments to and perfect performance, stating that these factors Clear Europe Limited; Notice of the mechanism of a free and open are important considerations in Designation of Longer Period for market and a national market system, evaluating a Market Maker’s Commission Action on Proposed Rule and, in general, to protect investors and performance, and that continued Change Relating to Finance the public interest. The Exchange states consideration of these factors would Procedures To Add Clearstream that the proposed changes regarding remove impediments to and perfect the Banking as a Triparty Collateral how Market Makers select and modify mechanism of a free and open market Service Provider their appointments would provide and would benefit investors and the Market Makers with more efficient public interest.45 The Commission June 29, 2015. access to the securities in which they further notes that the Exchange will On May 5, 2015, ICE Clear Europe want to make markets, enabling them to continue to have authority to suspend or Limited (‘‘ICEEU’’) filed with the quickly begin disseminating competitive terminate any appointment of a Market Securities and Exchange Commission quotations in those securities which Maker in one or more option issues (‘‘Commission’’), pursuant to Section would provide additional liquidity and whenever, in the Exchange’s judgment, 19(b)(1) of the Securities Exchange Act enhanced competition in those the interests of a fair and orderly market of 1934 (‘‘Act’’) 1 and Rule 19b–4 securities on the Exchange.41 The are best served by such action.46 The thereunder,2 a proposed rule change to Exchange notes that the proposed rule Exchange will also retain the ability to modify the Finance Procedures to allow change would enable Market Makers to restrict a Market Maker’s registration in Clearstream Banking to serve as a manage their appointments with more option issues for up to six months if a triparty collateral service provider for flexibility and in a timelier manner, but Market Maker’s appointment in that initial or original margin provided in that Market Makers still will be required option issue or issues has been respect of all product categories, to comply with certain obligations to terminated under the rule, and Rule including CDS Contracts. The proposed maintain their status as a Market Maker, 923NY will continue to give the rule change was published for comment including that they provide continuous, Exchange discretion to allow the Market in the Federal Register on May 15, two-sided quotations in their appointed Maker to resume that appointment 2015.3 To date, the Commission has not securities.42 The Exchange also believes earlier than the prescribed six-month received comments on the proposal. that preventing Market Makers from period or to maintain the suspension for Section 19(b)(2) of the Act 4 provides being able to withdraw an option issue the entire period. Finally, the Exchange that within 45 days of the publication of from its appointment on the same day is not proposing changes to the notice of the filing of a proposed rule that it submits the request (as such disciplinary and appeals process for change, or within such longer period up requests, if properly made and received, Market Makers that do not meet to 90 days as the Commission may are processed on an overnight basis for minimum performance standards.47 designate if it finds such longer period effectiveness the following business Based on the foregoing, the to be appropriate and publishes its day) will serve to promote just and Commission finds the proposed rule reasons for so finding or as to which the change is consistent with the Act. self-regulatory organization consents, 41 See Notice, supra note 3, at 18887. In addition, the Commission shall either approve the the Exchange notes that other options exchanges IV. Conclusion permit market makers to select their appointments proposed rule change, disapprove the in a similar manner via exchange-approved It is therefore ordered, pursuant to proposed rule change, or institute electronic interfaces. See Notice, supra note 3, at Section 19(b)(2) of the Act,48 that the proceedings to determine whether the 18886, n.31(citing, BATS Exchange, Inc. Rule proposed rule change should be 22.3(b) (‘‘An Options Market Maker may become registered in a series by entering a registration 43 See Notice, supra note 3, at 18887. disapproved. The 45th day from the request via an Exchange approved electronic 44 See text accompany notes 29–30 supra. publication of notice of filing of this 45 See Notice, supra note 3, at 18887. interface with the Exchange’s systems by 9:00 a.m. proposed rule change is June 29, 2015. 46 See Rule 923NY(g). See also Notice, supra 3, Eastern time. Registration shall become effective on The Commission is extending this 45- the day the registration request is entered’’); and at 18888, n.43 and Rule 921NY (regarding the Lhorne on DSK7TPTVN1PROD with NOTICES NASDAQ Options Market Chapter VII, Section 3(b) Exchange’s ability to suspend or terminate a Market 49 17 CFR 200.30–3(a)(12). (‘‘An Options Market Maker may become registered Maker’s registration based on ‘‘a determination of 1 15 U.S.C. 78s(b)(1). in an option by entering a registration request via any substantial or continued failure by such Market a Nasdaq approved electronic interface with Maker to engage in dealings in accordance with 2 17 CFR 240.19b–4. Nasdaq’s systems. Registration shall become Rules 925NY or 923NY,’’ which outline the 3 Securities Exchange Act Release No. 34–74922 effective on the day the registration request is obligations of Market Makers). (May 11, 2015), 80 FR 28035 (May 15, 2015) (File entered.’’). 47 See Notice, supra note 3, at 18887. No. SR–ICEEU–2015–009). 42 See Notice, supra note 3, at 18888. 48 15 U.S.C. 78s(b)(2). 4 15 U.S.C. 78s(b)(2). VerDate Sep<11>2014 14:37 Jul 02, 2015 Jkt 235001 PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 E:\FR\FM\06JYN1.SGM 06JYN1

Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices 38489 day time period. In order to provide the ADDRESSES: The Commission: Brent J. For the Commission, by the Division of Commission with sufficient time to Fields, Secretary, U.S. Securities and Investment Management, pursuant to consider the proposed rule change, the Exchange Commission, 100 F Street NE., delegated authority. Commission finds it is appropriate to Washington, DC 20549–1090. Robert W. Errett, designate a longer period within which Deputy Secretary. FOR FURTHER INFORMATION CONTACT: to take action on the proposed rule [FR Doc. 2015–16409 Filed 7–2–15; 8:45 am] Diane L. Titus at (202) 551–6810, SEC, change. BILLING CODE 8011–01–P Accordingly, the Commission, Division of Investment Management, pursuant to Section 19(b)(2) of the Act,5 Chief Counsel’s Office, 100 F Street NE., designates August 13, 2015, as the date Washington, DC 20549–8010. SECURITIES AND EXCHANGE by which the Commission should either First Trust Floating Rate High Income COMMISSION approve or disapprove, or institute Fund [File No. 811–22510] proceedings to determine whether to [Release No. 34–75321; File No. SR–CBOE– disapprove, the proposed rule change Summary: Applicant, a closed-end 2015–059] (File No. SR–ICEEU–2015–009). investment company, seeks an order declaring that it has ceased to be an Self-Regulatory Organizations; For the Commission, by the Division of Trading and Markets, pursuant to delegated investment company. Applicant has Chicago Board Options Exchange, authority.6 never made a public offering of its Incorporated; Notice of Filing and Robert W. Errett, securities and does not propose to make Immediate Effectiveness of a Proposed Deputy Secretary. a public offering or engage in business Rule Change to Amend the Fees of any kind. Schedule [FR Doc. 2015–16410 Filed 7–2–15; 8:45 am] Filing Date: The application was filed BILLING CODE 8011–01–P June 29, 2015. on June 17, 2015. Pursuant to Section 19(b)(1) of the Applicant’s Address: 120 East Liberty Securities Exchange Act of 1934 (the SECURITIES AND EXCHANGE Drive, Suite 400, Wheaton, IL 60187. ‘‘Act’’),1 and Rule 19b–4 thereunder,2 COMMISSION notice is hereby given that on June 15, BlackRock Pennsylvania Strategic [Release No. IC–31698] Municipal Trust [File No. 811–9417] 2015, Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or Notice of Applications for Summary: Applicant, a closed-end ‘‘CBOE’’) filed with the Securities and Deregistration Under Section 8(f) of the investment company, seeks an order Exchange Commission (the Investment Company Act of 1940 declaring that it has ceased to be an ‘‘Commission’’) the proposed rule investment company. Applicant change as described in Items I, II, and June 26, 2015. transferred its assets to BlackRock The following is a notice of III, below, which Items have been MuniYield Pennsylvania Quality Fund, prepared by the Exchange. The applications for deregistration under and effective April 13, 2015, made section 8(f) of the Investment Company Commission is publishing this notice to distributions to its shareholders based solicit comments on the proposed rule Act of 1940 for the month of June 2015. on net asset value. Expenses of A copy of each application may be change from interested persons. approximately $297,589 incurred in obtained via the Commission’s Web site connection with the reorganization were I. Self-Regulatory Organization’s by searching for the file number, or for paid by applicant. Statement of the Terms of Substance of an applicant using the Company name the Proposed Rule Change box, at http://www.sec.gov/search/ Filing Date: The application was filed search.htm or by calling (202) 551– on June 11, 2015. The Exchange proposes to amend its 8090. An order granting each Applicant’s Address: 100 Bellevue Fees Schedule. The text of the proposed application will be issued unless the Parkway, Wilmington, DE 19809. rule change is available on the SEC orders a hearing. Interested persons Exchange’s Web site (http:// Campbell Multi-Strategy Trust [File No. www.cboe.com/AboutCBOE/ may request a hearing on any 811–21803] CBOELegalRegulatoryHome.aspx), at application by writing to the SEC’s Secretary at the address below and Summary: Applicant, a closed-end the Exchange’s Office of the Secretary, serving the relevant applicant with a investment company, seeks an order and at the Commission’s Public copy of the request, personally or by declaring that it has ceased to be an Reference Room. mail. Hearing requests should be investment company. On June 23, 2015, II. Self-Regulatory Organization’s received by the SEC by 5:30 p.m. on July applicant made a final liquidating Statement of the Purpose of, and 21, 2015, and should be accompanied distribution to its shareholders, based Statutory Basis for, the Proposed Rule by proof of service on applicants, in the on net asset value. Applicant has Change form of an affidavit or, for lawyers, a retained approximately $2,416,000 in certificate of service. Pursuant to Rule In its filing with the Commission, the cash and cash equivalent reserves to 0–5 under the Act, hearing requests Exchange included statements cover potential outstanding liabilities in should state the nature of the writer’s concerning the purpose of and basis for the amount of $2,416,421. Any reserves interest, any facts bearing upon the the proposed rule change and discussed not required to pay such liabilities will desirability of a hearing on the matter, any comments it received on the be distributed to shareholders. Expenses the reason for the request, and the issues proposed rule change. The text of these of approximately $76,289 incurred in Lhorne on DSK7TPTVN1PROD with NOTICES contested. Persons who wish to be statements may be examined at the connection with the liquidation were notified of a hearing may request places specified in Item IV below. The paid by shareholders. notification by writing to the Exchange has prepared summaries, set Filing Date: The application was filed forth in sections A, B, and C below, of Commission’s Secretary. on June 24, 2015. 5 15 U.S.C. 78s(b)(2). Applicant’s Address: 2850 Quarry 1 15 U.S.C. 78s(b)(1). 6 17 CFR 200.30–3(a)(31). Lake Dr., Baltimore, MD 21209. 2 17 CFR 240.19b–4. VerDate Sep<11>2014 14:37 Jul 02, 2015 Jkt 235001 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 E:\FR\FM\06JYN1.SGM 06JYN1


Document Created: 2015-12-15 13:17:37
Document Modified: 2015-12-15 13:17:37
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 38488 
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