81_FR_42142 81 FR 42018 - Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Revise the ICC End-of-Day Price Discovery Policies and Procedures

81 FR 42018 - Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Revise the ICC End-of-Day Price Discovery Policies and Procedures

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 124 (June 28, 2016)

Page Range42018-42018
FR Document2016-15323

Federal Register, Volume 81 Issue 124 (Tuesday, June 28, 2016) 
[Federal Register Volume 81, Number 124 (Tuesday, June 28, 2016)]
[Notices]
[Page 42018]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15323]



[[Page 42018]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78144; File No. SR-ICC-2016-007]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change To Revise the ICC End-of-Day Price Discovery Policies and 
Procedures

June 23, 2016.
    On April 22, 2016, ICE Clear Credit LLC (``ICC'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
section 19(b)(1) of the Securities Exchange Act (``Act'') \1\ and Rule 
19b-4 thereunder,\2\ a proposed rule change relating to ICC's End-of-
Day Price Discovery Policies and Procedures (the ``EOD Policy'') (File 
No. SR-ICC-2016-007). The proposed rule change was published for 
comment in the Federal Register on May 11, 2016.\3\ To date, the 
Commission has not received comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-77771 (May 5, 2016), 
81 FR 29309 (May 11, 2016) (SR-ICC-2016-007).
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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 25, 2016.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. ICC's proposed rule change would 
modify the EOD Policy to apply firm trade notional limits to groups of 
affiliated clearing members, rather than individual clearing members. 
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 ICC's proposed rule change.
    Accordingly, the Commission, pursuant to section 19(b)(2) \5\ of 
the Act, designates August 9, 2016 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-
ICC-2016-007).
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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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Brent J. Fields,
Secretary.
[FR Doc. 2016-15323 Filed 6-27-16; 8:45 am]
 BILLING CODE 8011-01-P

42018 Federal Register / Vol. 81, No. 124 / Tuesday, June 28, 2016 / Notices SECURITIES AND EXCHANGE which the Commission should either Expirations] (as provided for in Rule COMMISSION approve or disapprove, or institute 24.9(e), QIXs, Q–CAPS, Packaged proceedings to determine whether to Vertical Spreads and Packaged Butterfly [Release No. 34–78144; File No. SR–ICC– 2016–007] disapprove, the proposed rule change Spreads on a broad-based index shall be (File No. SR–ICC–2016–007). aggregated with option contracts on the Self-Regulatory Organizations; ICE For the Commission, by the Division of same broad-based index and shall be Clear Credit LLC; Notice of Trading and Markets, pursuant to delegated subject to the overall position limit. Designation of Longer Period for authority.6 * * * * * Commission Action on Proposed Rule Brent J. Fields, Rule 24.9. Terms of Index Option Change To Revise the ICC End-of-Day Secretary. Contracts Price Discovery Policies and [FR Doc. 2016–15323 Filed 6–27–16; 8:45 am] Procedures BILLING CODE 8011–01–P (a)–(d) No change. (e) Nonstandard Expirations Pilot June 23, 2016. Program On April 22, 2016, ICE Clear Credit SECURITIES AND EXCHANGE (1) Weekly Expirations. [End of Week LLC (‘‘ICC’’) filed with the Securities COMMISSION (‘‘EOW’’) Expirations.] The Exchange and Exchange Commission may open for trading Weekly (‘‘Commission’’), pursuant to section [Release No. 34–78132; File No. SR–CBOE– Expirations [EOWs] on any broad-based 19(b)(1) of the Securities Exchange Act 2016–046] index eligible for standard options (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a trading to expire on any Monday, proposed rule change relating to ICC’s Self-Regulatory Organizations; Wednesday, or Friday (other than the End-of-Day Price Discovery Policies and Chicago Board Options Exchange, third Friday-of-the-month or days that Procedures (the ‘‘EOD Policy’’) (File No. Incorporated; Notice of Filing of a coincide with an EOM expiration). [of SR–ICC–2016–007). The proposed rule Proposed Rule Change To Expand the the month, other than the third Friday- change was published for comment in Nonstandard Expirations Pilot of-the-month. EOWs] Weekly the Federal Register on May 11, 2016.3 Program Expirations shall be subject to all To date, the Commission has not June 22, 2016. provisions of this Rule and treated the received comments on the proposed Pursuant to Section 19(b)(1) of the same as options on the same underlying rule change. Securities Exchange Act of 1934 (the index that expire on the third Friday of Section 19(b)(2) of the Act 4 provides ‘‘Act’’),1 and Rule 19b–4 thereunder,2 the expiration month; provided, that within 45 days of the publication of notice is hereby given that on June 14, however, that [EOWs] Weekly notice of the filing of a proposed rule 2016, Chicago Board Options Exchange, Expirations shall be P.M.-settled. change, or within such longer period up Incorporated (the ‘‘Exchange’’ or The maximum number[s] of to 90 days as the Commission may ‘‘CBOE’’) filed with the Securities and expirations that may be listed for designate if it finds such longer period Exchange Commission (the [EOWs] each Weekly Expiration (i.e., a to be appropriate and publishes its ‘‘Commission’’) the proposed rule Monday expiration, Wednesday reasons for so finding or as to which the change as described in Items I, II, and expiration, or Friday expiration, as self-regulatory organization consents, III below, which Items have been applicable) in a given class is the same the Commission shall either approve the prepared by the Exchange. The as the maximum number[s] of proposed rule change, disapprove the Commission is publishing this notice to expirations permitted in Rule 24.9(a)(2) proposed rule change, or institute solicit comments on the proposed rule for standard options on the same broad- proceedings to determine whether the change from interested persons. based index. Other than expirations that proposed rule change should be are third Friday-of-the-month or that disapproved. The 45th day from the I. Self-Regulatory Organization’s coincide with an EOM expiration, publication of notice of filing of this Statement of the Terms of Substance of Weekly Expirations [EOW expirations] proposed rule change is June 25, 2016. the Proposed Rule Change shall be for consecutive Monday, The Commission is extending the 45- The Exchange seeks to amend Wednesday, or Friday expirations as day time period for Commission action Exchange Rules to expand the applicable. Weekly Expirations [EOWs] on the proposed rule change. ICC’s Nonstandard Expirations Pilot Program. that are first listed in a given class may proposed rule change would modify the The text of the proposed rule change is expire up to four weeks from the actual EOD Policy to apply firm trade notional provided below. listing date. If the last trading day of a limits to groups of affiliated clearing month is a Monday, Wednesday, or (additions are italicized; deletions are members, rather than individual Friday and the Exchange lists EOMs and [bracketed]) clearing members. The Commission Weekly Expirations as applicable finds it is appropriate to designate a * * * * * [EOWs] in a given class, the Exchange longer period within which to take Chicago Board Options Exchange, will list an EOM instead of a Weekly action on the proposed rule change so Incorporated Rules Expiration [an EOW] in the given class. that it has sufficient time to consider Other expirations in the same class are ICC’s proposed rule change. * * * * * not counted as part of the maximum Accordingly, the Commission, Rule 24.4. Position Limits for Broad- numbers of Weekly Expirations [EOW] pursuant to section 19(b)(2) 5 of the Act, Based Index Options expirations for a broad-based index asabaliauskas on DSK3SPTVN1PROD with NOTICES designates August 9, 2016 as the date by class. If the Exchange is not open for (a) No change. (b) Nonstandard Expirations [End of business on a respective Monday, the 1 15 U.S.C. 78s(b)(1). Week Expirations, End of Month normally Monday expiring Weekly 2 17 CFR 240.19b–4. 3 Securities Exchange Act Release No. 34–77771 Expirations, and Wednesday Expirations will expire on the following (May 5, 2016), 81 FR 29309 (May 11, 2016) (SR– business day. If the Exchange is not ICC–2016–007). 6 17 CFR 200.30–3(a)(31). open for business on a respective 4 15 U.S.C. 78s(b)(2). 1 15 U.S.C. 78s(b)(1). Wednesday or Friday, the normally 5 15 U.S.C. 78s(b)(2). 2 17 CFR 240.19b–4. Wednesday or Friday expiring Weekly VerDate Sep<11>2014 17:49 Jun 27, 2016 Jkt 238001 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 E:\FR\FM\28JNN1.SGM 28JNN1


Document Created: 2016-06-28 00:53:39
Document Modified: 2016-06-28 00:53:39
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 Citation81 FR 42018 
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