81_FR_53686 81 FR 53530 - Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change To Revise the ICC End-of-Day Price Discovery Policies and Procedures

81 FR 53530 - Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change To Revise the ICC End-of-Day Price Discovery Policies and Procedures

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 156 (August 12, 2016)

Page Range53530-53531
FR Document2016-19170

Federal Register, Volume 81 Issue 156 (Friday, August 12, 2016)
[Federal Register Volume 81, Number 156 (Friday, August 12, 2016)]
[Notices]
[Pages 53530-53531]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-19170]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78501; File No. SR-ICC-2016-007]


Self-Regulatory Organizations; ICE Clear Credit LLC; Order 
Approving Proposed Rule Change To Revise the ICC End-of-Day Price 
Discovery Policies and Procedures

August 8, 2016

I. Introduction

    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''). The 
proposed rule change was published for comment in the Federal Register 
on May 11, 2016.\3\ On June 23, 2016, the Commission extended the time 
period in which to either approve, disapprove, or institute proceedings 
to determine whether to disapprove the proposed rule change to August 
9, 2016.\4\ The Commission did not receive comments on the proposed 
rule change. For the reasons discussed below, the Commission is 
approving 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).
    \4\ Securities Exchange Act Release No. 34-78144 (June 23, 
2016), 81 FR 42018 (June 28, 2016) (SR-ICC-2016-007).
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II. Description of the Proposed Rule Change

    The principal purpose of the proposed rule change is to revise the 
EOD Policy to change the calculation of single name firm trade (``Firm 
Trade'') notional limits to be at a Clearing Participant (``CP'') 
affiliate group level.
    As part of ICC's end-of-day price discovery process, ICC CPs are 
required to submit end-of-day prices for specific instruments related 
to their open interest at ICC. ICC determines end-of-day levels 
directly from these CP price submissions using a proprietary algorithm. 
To encourage CPs to provide high quality end-of-day submissions, on 
random days, ICC selects a subset of instruments which are eligible for 
Firm Trades. In order to determine Firm Trade requirements, the 
algorithm sorts and ranks all CP submissions and identifies ``crossed 
and/or locked markets.'' Crossed markets are pairs of CP submitted 
prices generated by the sorting and ranking process for which the bid 
price of one CP is above the offer price of the matched CP. The 
algorithm identifies locked markets, where the bid and the offer are 
equal, in a similar fashion.
    ICC designates certain crossed and/or locked markets as Firm Trades 
and CPs are entered into cleared transactions. ICC establishes pre-
defined notional amounts for Firm Trades. According to ICC, no single 
Firm Trade can have a larger notional amount than specified by the pre-
defined notional amount for the relevant instrument. On a given Firm 
Trade day, all potential-trades resulting from the cross-and-lock 
algorithm in any Firm Trade eligible instrument are designated Firm 
Trades, unless they breach a CP's notional limits.
    Currently single name Firm Trade notional limits are set at the CP 
level. According to ICC, it designed the Firm Trade system to 
incentivize trading desks to provide quality end-of-day price 
submissions for use in its end-of-day price discovery process, while 
limiting the total overnight risk that a given institution may be 
required to manage in case of submission errors or outlying pricing 
submissions which may lead to Firm Trades. One mechanism introduced to 
provide these protections was single name Firm Trade notional limits 
per CP. ICC believes that at the time of its introduction, this 
mechanism achieved its goal of limiting overnight risk limits per 
institution. However, with the increase in client clearing and in 
multiple CP memberships per holding company, ICC asserts that the limit 
provided to a given institution is multiples of that originally 
contemplated.
    In addition, because of recent changes to the EOD Policy to extend 
the process for determining Firm Trades to include all submissions, 
including those classified as outlying pricing submissions (or 
``obvious errors''),\5\ ICC asserts that CPs are eligible to receive 
Firm Trades on a wider range of price submissions. Due to the broadened 
scope of the Firm Trade process, ICC asserts a heightened interest in 
adjusting the allocation process so that CPs are not over-penalized for 
Firm Trades in terms of overnight risk exposure.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 34-74053 (January 
14, 2015), 80 FR 2985 (January 21, 2015) (SR-ICC-2015-001).
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    In order to maintain the original intent of the end-of-day price 
discovery process, ICC has proposed changes to its EOD Policy to 
implement single name Firm Trade notional limits at the CP affiliate 
group level, as opposed to the

[[Page 53531]]

CP level. ICC represents that the proposed changes will return the 
process to its original design and limit the total overnight risk that 
a given institution may be required to manage in the case of submission 
errors or outlying pricing submissions which may lead to Firm Trades.
    A ``CP affiliate group'' will be defined as the set of all 
affiliated CPs (i.e. any CPs that own, are owned by, or are under 
common ownership with another CP). According to ICC, as the sequence of 
crosses is considered, the executed single name Firm Trade notional 
value will be tracked for all CPs in a CP affiliate group. ICC states 
that no additional single name Firm Trades will be executed against any 
CP in a CP affiliate group once the CP affiliate group notional limit 
for single name Firm Trades is reached. ICC asserts there are no 
changes to the Firm Trade algorithm as a result of these changes. ICC 
further asserts that setting single name Firm Trade notional limits on 
an affiliate group basis is consistent with price submission practices 
where end-of-day submissions from multiple affiliated entities often 
reflect the institution's overall view on the market.
    ICC states that the proposal returns single name Firm Trade 
notional limits to the original design while maintaining the system's 
price submission incentives. ICC represents that all CPs within an 
affiliate group will still be subject to potential Firm Trades for any 
given submission, on a randomized basis. ICC also asserts that though 
Firm Trade notional limits will be implemented at the CP affiliate 
group level, the potential implication for a given trading desk of 
providing an off-market submission for a given instrument remains the 
same. ICC believes there will be no change in price submission behavior 
as a result of the changes, and the Firm Trade process will remain an 
effective tool for ensuring quality price submissions.

III. Discussion and Commission Findings

    Section 19(b)(2)(C) of the Act \6\ directs the Commission to 
approve a proposed rule change of a self-regulatory organization if the 
Commission finds that the proposed rule change is consistent with the 
requirements of the Act and the rules and regulations thereunder 
applicable to such self-regulatory organization. Section 17A(b)(3)(F) 
of the Act \7\ requires, among other things, that the rules of a 
clearing agency be designed to promote the prompt and accurate 
clearance and settlement of securities transactions, and to the extent 
applicable, derivative agreements, contracts and transactions, to 
assure the safeguarding of securities and funds which are in the 
custody or control of the clearing agency or for which it is 
responsible and, in general, to protect investors and the public 
interest. Section 17A(b)(3)(F) \8\ of the Act also requires that the 
rules of a clearing agency are not designed to permit unfair 
discrimination among participants in the use of the clearing agency.
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    \6\ 15 U.S.C. 78s(b)(2)(C).
    \7\ 15 U.S.C. 78q-1(b)(3)(F).
    \8\ Id.
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    The proposed application of the Firm Trade notional limit to CP 
affiliate groups is intended to manage what is, in ICC's view, an 
inappropriate overnight risk to its members without negatively 
impacting the integrity of its price discovery process. Moreover, the 
proposed rule change is intended to apply the EOD Policy fairly to 
participants, and ICC has represented that the proposed rule change is 
consistent with price submission practices where end-of-day submissions 
from multiple affiliated entities often reflect the institution's 
overall view on the market. As such, the Commission believes that the 
proposed rule change is designed to promote the prompt and accurate 
clearance and settlement of securities transactions, derivatives 
agreements, contracts, and transactions within the meaning of Section 
17A(b)(3)(F) \9\ of the Act.
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    \9\ Id.
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IV. Conclusion

    On the basis of the foregoing, the Commission finds that the 
proposal is consistent with the requirements of the Act and in 
particular with the requirements of Section 17A of the Act \10\ and the 
rules and regulations thereunder.\11\
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    \10\ 15 U.S.C. 78q-1.
    \11\ 17 CFR 240.17Ad-22.
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    IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the 
Act,\12\ that the proposed rule change (File No. SR-ICC-2016-007) be, 
and hereby is, approved.\13\
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    \12\ 15 U.S.C. 78s(b)(2).
    \13\ In approving the proposed rule change, the Commission 
considered the proposal's impact on efficiency, competition and 
capital formation. 15 U.S.C. 78c(f).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-19170 Filed 8-11-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                  53530                          Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices

                                                  application to approximately $200,000                   SECURITIES AND EXCHANGE                               CP submitted prices generated by the
                                                  to prepare a complex or novel                           COMMISSION                                            sorting and ranking process for which
                                                  application. We estimate that the                                                                             the bid price of one CP is above the offer
                                                                                                          [Release No. 34–78501; File No. SR–ICC–
                                                  Commission receives 1 of the most time-                                                                       price of the matched CP. The algorithm
                                                                                                          2016–007]
                                                  consuming applications annually, 2                                                                            identifies locked markets, where the bid
                                                  applications of medium difficulty, and 9                Self-Regulatory Organizations; ICE                    and the offer are equal, in a similar
                                                  of the least difficult applications subject             Clear Credit LLC; Order Approving                     fashion.
                                                  to rule 0–4.1 This distribution gives a                 Proposed Rule Change To Revise the                       ICC designates certain crossed and/or
                                                  total estimated annual cost burden to                   ICC End-of-Day Price Discovery                        locked markets as Firm Trades and CPs
                                                                                                          Policies and Procedures                               are entered into cleared transactions.
                                                  applicants of filing all applications of
                                                                                                                                                                ICC establishes pre-defined notional
                                                  $402,200 [(1 × $200,000) + (2 × $43,500)                August 8, 2016                                        amounts for Firm Trades. According to
                                                  + (9 × $12,800)]. The estimate of annual                                                                      ICC, no single Firm Trade can have a
                                                  cost burden is made solely for the                      I. Introduction
                                                                                                                                                                larger notional amount than specified by
                                                  purposes of the Paperwork Reduction                        On April 22, 2016, ICE Clear Credit                the pre-defined notional amount for the
                                                  Act, and is not derived from a                          LLC (‘‘ICC’’) filed with the Securities               relevant instrument. On a given Firm
                                                  comprehensive or even representative                    and Exchange Commission                               Trade day, all potential-trades resulting
                                                  survey or study of the costs of                         (‘‘Commission’’), pursuant to Section                 from the cross-and-lock algorithm in
                                                  Commission rules and forms.                             19(b)(1) of the Securities Exchange Act               any Firm Trade eligible instrument are
                                                    The requirements of this collection of                (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a             designated Firm Trades, unless they
                                                  information are required to obtain or                   proposed rule change relating to ICC’s                breach a CP’s notional limits.
                                                                                                          End-of-Day Price Discovery Policies and                  Currently single name Firm Trade
                                                  retain benefits. Responses will not be
                                                                                                          Procedures (the ‘‘EOD Policy’’). The                  notional limits are set at the CP level.
                                                  kept confidential. An agency may not
                                                                                                          proposed rule change was published for                According to ICC, it designed the Firm
                                                  conduct or sponsor, and a person is not
                                                                                                          comment in the Federal Register on                    Trade system to incentivize trading
                                                  required to respond to a collection of                  May 11, 2016.3 On June 23, 2016, the
                                                  information unless it displays a                                                                              desks to provide quality end-of-day
                                                                                                          Commission extended the time period                   price submissions for use in its end-of-
                                                  currently valid control number.                         in which to either approve, disapprove,               day price discovery process, while
                                                    Written comments are invited on: (a)                  or institute proceedings to determine                 limiting the total overnight risk that a
                                                  Whether the proposed collection of                      whether to disapprove the proposed                    given institution may be required to
                                                  information is necessary for the proper                 rule change to August 9, 2016.4 The                   manage in case of submission errors or
                                                  performance of the functions of the                     Commission did not receive comments                   outlying pricing submissions which
                                                  agency, including whether the                           on the proposed rule change. For the                  may lead to Firm Trades. One
                                                  information will have practical utility;                reasons discussed below, the                          mechanism introduced to provide these
                                                  (b) the accuracy of the agency’s estimate               Commission is approving the proposed                  protections was single name Firm Trade
                                                  of the burden of the collection of                      rule change.                                          notional limits per CP. ICC believes that
                                                  information; (c) ways to enhance the                    II. Description of the Proposed Rule                  at the time of its introduction, this
                                                  quality, utility, and clarity of the                    Change                                                mechanism achieved its goal of limiting
                                                  information collected; and (d) ways to                                                                        overnight risk limits per institution.
                                                                                                             The principal purpose of the                       However, with the increase in client
                                                  minimize the burden of the collection of                proposed rule change is to revise the
                                                  information on respondents, including                                                                         clearing and in multiple CP
                                                                                                          EOD Policy to change the calculation of               memberships per holding company, ICC
                                                  through the use of automated collection                 single name firm trade (‘‘Firm Trade’’)
                                                  techniques or other forms of information                                                                      asserts that the limit provided to a given
                                                                                                          notional limits to be at a Clearing                   institution is multiples of that originally
                                                  technology. Consideration will be given                 Participant (‘‘CP’’) affiliate group level.
                                                  to comments and suggestions submitted                                                                         contemplated.
                                                                                                             As part of ICC’s end-of-day price                     In addition, because of recent changes
                                                  in writing within 60 days of this                       discovery process, ICC CPs are required               to the EOD Policy to extend the process
                                                  publication.                                            to submit end-of-day prices for specific              for determining Firm Trades to include
                                                    Please direct your written comments                   instruments related to their open                     all submissions, including those
                                                  to Pamela Dyson, Chief Information                      interest at ICC. ICC determines end-of-               classified as outlying pricing
                                                  Officer, Securities and Exchange                        day levels directly from these CP price               submissions (or ‘‘obvious errors’’),5 ICC
                                                  Commission, 100 F Street NE.,                           submissions using a proprietary                       asserts that CPs are eligible to receive
                                                                                                          algorithm. To encourage CPs to provide                Firm Trades on a wider range of price
                                                  Washington, DC 20549; or send an email
                                                                                                          high quality end-of-day submissions, on               submissions. Due to the broadened
                                                  to: PRA_Mailbox@sec.gov.
                                                                                                          random days, ICC selects a subset of                  scope of the Firm Trade process, ICC
                                                    Dated: August 9, 2016.                                instruments which are eligible for Firm               asserts a heightened interest in adjusting
                                                  Robert W. Errett,                                       Trades. In order to determine Firm                    the allocation process so that CPs are
                                                  Deputy Secretary.                                       Trade requirements, the algorithm sorts               not over-penalized for Firm Trades in
                                                  [FR Doc. 2016–19207 Filed 8–11–16; 8:45 am]             and ranks all CP submissions and                      terms of overnight risk exposure.
                                                                                                          identifies ‘‘crossed and/or locked                       In order to maintain the original
                                                  BILLING CODE 8011–01–P
                                                                                                          markets.’’ Crossed markets are pairs of               intent of the end-of-day price discovery
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                                                                                                                                                                process, ICC has proposed changes to its
                                                                                                            1 15  U.S.C. 78s(b)(1).
                                                                                                            2 17
                                                                                                                                                                EOD Policy to implement single name
                                                                                                                  CFR 240.19b–4.
                                                                                                             3 Securities Exchange Act Release No. 34–77771
                                                                                                                                                                Firm Trade notional limits at the CP
                                                                                                          (May 5, 2016), 81 FR 29309 (May 11, 2016) (SR–        affiliate group level, as opposed to the
                                                                                                          ICC–2016–007).
                                                    1 The estimated 9 least difficult applications           4 Securities Exchange Act Release No. 34–78144       5 See Securities Exchange Act Release No. 34–
                                                  include the estimated 9 applications per year           (June 23, 2016), 81 FR 42018 (June 28, 2016) (SR–     74053 (January 14, 2015), 80 FR 2985 (January 21,
                                                  submitted under Advisers Act rule 206(4)–5.             ICC–2016–007).                                        2015) (SR–ICC–2015–001).



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                                                                                  Federal Register / Vol. 81, No. 156 / Friday, August 12, 2016 / Notices                                         53531

                                                  CP level. ICC represents that the                       prompt and accurate clearance and                     SECURITIES AND EXCHANGE
                                                  proposed changes will return the                        settlement of securities transactions,                COMMISSION
                                                  process to its original design and limit                and to the extent applicable, derivative
                                                  the total overnight risk that a given                   agreements, contracts and transactions,               [Release No. 34–78498; File No. SR–NYSE–
                                                  institution may be required to manage                   to assure the safeguarding of securities              2016–52]
                                                  in the case of submission errors or                     and funds which are in the custody or
                                                  outlying pricing submissions which                      control of the clearing agency or for                 Self-Regulatory Organizations; New
                                                  may lead to Firm Trades.                                which it is responsible and, in general,              York Stock Exchange LLC; Notice of
                                                     A ‘‘CP affiliate group’’ will be defined             to protect investors and the public                   Filing and Immediate Effectiveness of
                                                  as the set of all affiliated CPs (i.e. any              interest. Section 17A(b)(3)(F) 8 of the               Proposed Rule Change To Amend Rule
                                                  CPs that own, are owned by, or are                      Act also requires that the rules of a                 19 To Specify in Exchange Rules the
                                                  under common ownership with another                     clearing agency are not designed to                   Exchange’s Use of Data Feeds From
                                                  CP). According to ICC, as the sequence                  permit unfair discrimination among                    Investors’ Exchange, LLC for Order
                                                  of crosses is considered, the executed                  participants in the use of the clearing               Handling and Execution, Order
                                                  single name Firm Trade notional value                   agency.                                               Routing, and Regulatory Compliance
                                                  will be tracked for all CPs in a CP                        The proposed application of the Firm
                                                  affiliate group. ICC states that no                     Trade notional limit to CP affiliate                  August 8, 2016.
                                                  additional single name Firm Trades will                 groups is intended to manage what is,                    Pursuant to Section 19(b)(1) 1 of the
                                                  be executed against any CP in a CP                      in ICC’s view, an inappropriate                       Securities Exchange Act of 1934 (the
                                                  affiliate group once the CP affiliate                   overnight risk to its members without                 ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
                                                  group notional limit for single name                    negatively impacting the integrity of its             notice is hereby given that on July 26,
                                                  Firm Trades is reached. ICC asserts                     price discovery process. Moreover, the                2016, New York Stock Exchange LLC
                                                  there are no changes to the Firm Trade                  proposed rule change is intended to                   (‘‘NYSE’’ or the ‘‘Exchange’’) filed with
                                                  algorithm as a result of these changes.                 apply the EOD Policy fairly to                        the Securities and Exchange
                                                  ICC further asserts that setting single                 participants, and ICC has represented                 Commission (the ‘‘Commission’’) the
                                                  name Firm Trade notional limits on an                   that the proposed rule change is                      proposed rule change as described in
                                                  affiliate group basis is consistent with                consistent with price submission                      Items I, and II below, which Items have
                                                  price submission practices where end-                   practices where end-of-day submissions                been prepared by the self-regulatory
                                                  of-day submissions from multiple                        from multiple affiliated entities often               organization. The Commission is
                                                  affiliated entities often reflect the                   reflect the institution’s overall view on             publishing this notice to solicit
                                                  institution’s overall view on the market.               the market. As such, the Commission                   comments on the proposed rule change
                                                     ICC states that the proposal returns                 believes that the proposed rule change                from interested persons.
                                                  single name Firm Trade notional limits                  is designed to promote the prompt and
                                                  to the original design while maintaining                accurate clearance and settlement of                  I. Self-Regulatory Organization’s
                                                  the system’s price submission                           securities transactions, derivatives                  Statement of the Terms of Substance of
                                                  incentives. ICC represents that all CPs                 agreements, contracts, and transactions               the Proposed Rule Change
                                                  within an affiliate group will still be                 within the meaning of Section
                                                  subject to potential Firm Trades for any                17A(b)(3)(F) 9 of the Act.                               The Exchange proposes to amend
                                                  given submission, on a randomized                                                                             Rule 19 to specify in Exchange rules the
                                                                                                          IV. Conclusion                                        Exchange’s use of data feeds from
                                                  basis. ICC also asserts that though Firm
                                                  Trade notional limits will be                             On the basis of the foregoing, the                  Investors’ Exchange, LLC for order
                                                  implemented at the CP affiliate group                   Commission finds that the proposal is                 handling and execution, order routing,
                                                  level, the potential implication for a                  consistent with the requirements of the               and regulatory compliance. The
                                                  given trading desk of providing an off-                 Act and in particular with the                        proposed rule change is available on the
                                                  market submission for a given                           requirements of Section 17A of the                    Exchange’s Web site at www.nyse.com,
                                                  instrument remains the same. ICC                        Act 10 and the rules and regulations                  at the principal office of the Exchange,
                                                  believes there will be no change in price               thereunder.11                                         and at the Commission’s Public
                                                  submission behavior as a result of the                    IT IS THEREFORE ORDERED,                            Reference Room.
                                                  changes, and the Firm Trade process                     pursuant to Section 19(b)(2) of the                   II. Self-Regulatory Organization’s
                                                  will remain an effective tool for                       Act,12 that the proposed rule change                  Statement of the Purpose of, and
                                                  ensuring quality price submissions.                     (File No. SR–ICC–2016–007) be, and
                                                                                                                                                                Statutory Basis for, the Proposed Rule
                                                                                                          hereby is, approved.13
                                                  III. Discussion and Commission                                                                                Change
                                                                                                            For the Commission, by the Division of
                                                  Findings                                                Trading and Markets, pursuant to delegated              In its filing with the Commission, the
                                                     Section 19(b)(2)(C) of the Act 6 directs             authority.14                                          self-regulatory organization included
                                                  the Commission to approve a proposed                    Robert W. Errett,                                     statements concerning the purpose of,
                                                  rule change of a self-regulatory                        Deputy Secretary.                                     and basis for, the proposed rule change
                                                  organization if the Commission finds                    [FR Doc. 2016–19170 Filed 8–11–16; 8:45 am]           and discussed any comments it received
                                                  that the proposed rule change is                        BILLING CODE 8011–01–P                                on the proposed rule change. The text
                                                  consistent with the requirements of the                                                                       of those statements may be examined at
                                                  Act and the rules and regulations                         8 Id.                                               the places specified in Item IV below.
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                                                  thereunder applicable to such self-                       9 Id.                                               The Exchange has prepared summaries,
                                                  regulatory organization. Section                          10 15  U.S.C. 78q-1.                                set forth in sections A, B, and C below,
                                                  17A(b)(3)(F) of the Act 7 requires, among                 11 17  CFR 240.17Ad-22.                             of the most significant parts of such
                                                                                                             12 15 U.S.C. 78s(b)(2).
                                                  other things, that the rules of a clearing                                                                    statements.
                                                                                                             13 In approving the proposed rule change, the
                                                  agency be designed to promote the                       Commission considered the proposal’s impact on
                                                                                                                                                                  1 15 U.S.C. 78s(b)(1).
                                                                                                          efficiency, competition and capital formation. 15
                                                    6 15 U.S.C. 78s(b)(2)(C).                             U.S.C. 78c(f).                                          2 15 U.S.C. 78a.
                                                    7 15 U.S.C. 78q–1(b)(3)(F).                              14 17 CFR 200.30–3(a)(12).                           3 17 CFR 240.19b–4.




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Document Created: 2018-02-09 11:33:30
Document Modified: 2018-02-09 11:33:30
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 53530 

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