81 FR 63831 - Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change To Provide for the Clearance of Additional Credit Default Swap Contracts
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 180 (September 16, 2016)
Federal Register Volume 81, Issue 180 (September 16, 2016)
| Page Range | 63831-63833 | |
| FR Document | 2016-22257 |
[Federal Register Volume 81, Number 180 (Friday, September 16, 2016)] [Notices] [Pages 63831-63833] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-22257] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78818; File No. SR-ICC-2016-012] Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change To Provide for the Clearance of Additional Credit Default Swap Contracts September 12, 2016. Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder \2\ notice is hereby given that on August 29, 2016, ICE Clear Credit LLC (``ICC'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared primarily by ICC. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The principal purpose of the proposed rule change is to revise the ICC Rulebook (the ``Rules'') to provide for the clearance of additional Standard Emerging Market Sovereign CDS contracts (collectively, ``EM Contracts''), 2003 ISDA Definitions of Standard Western European Sovereign CDS contracts (collectively, ``SWES Contracts''), and an additional Asia/Pacific Sovereign CDS contract (the ``Asia/Pacific Contract''). II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ICC included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. ICC has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of these statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of the proposed rule change is to adopt rules that will provide the basis for ICC to clear additional credit default swap contracts. ICC believes the addition of these contracts will benefit the market for credit default swaps by providing market participants the benefits of clearing, including reduction in counterparty risk and safeguarding of margin assets pursuant to clearing house rules. ICC proposes amending subchapter 26D of its Rules to provide for the clearance of additional EM Contracts, specifically the Republic of Panama, Abu Dhabi, Dubai, the State of Israel and the State of Qatar. ICC plans to offer these additional EM Contracts on the 2003 and 2014 ISDA Credit Derivatives Definitions. These additional EM Contracts have terms consistent with the other EM Contracts approved for clearing at ICC and governed by subchapter 26D of the Rules. Minor revisions to Subchapter 26D (Standard Emerging Market Sovereign (``SES'') Single Name) are made to provide for clearing the additional EM Contracts. Specifically, in Rule 26D-102 (Definitions), ``Eligible SES Reference Entities'' is modified to include the Republic of Panama, Abu Dhabi, Dubai, the State of Israel and the State of Qatar in the list of specific Eligible SES Reference Entities to be cleared by ICC. Additionally, ICC proposes amending subchapter 26I of its Rules to provide for the clearance of 2003 ISDA Definitions of SWES Contracts. ICC currently clears the 2014 ISDA Definitions of ten SWES Contracts, [[Page 63832]] namely the Republic of Ireland, the Italian Republic, the Portuguese Republic, the Kingdom of Spain, the Kingdom of Belgium, the Republic of Austria, the Kingdom of the Netherlands, the Federal Republic of Germany, the French Republic, and the United Kingdom of Great Britain and Northern Ireland. The proposed rule changes to subchapter 26I will allow ICC to offer clearing for the 2003 ISDA Definitions of these SWES Contracts. Minor revisions to subchapter 26I (Standard Western European (``SWES'') Single Name) are made to provide for clearing the 2003 ISDA Definitions of SWES Contracts. Specifically, in Rule 26I-102 (Definitions), the definitions of ``Eligible SWES Reference Obligations'', ``List of Eligible SWES Reference Entities'' and ``SWES Contract Reference Obligations'' are updated to distinguish between the 2003- and 2014-Type CDS Contracts, and the corresponding Applicable Credit Derivatives Definitions.\3\ Rule 26I-309 (Acceptance of SWES Contracts by ICE Clear Credit) is revised in part (c) to note that a CDS Participant may not submit a Trade for clearance as a SWES contract, and any such Trade shall not be a Confirming Trade, if the acceptance would be at a time when the CDS Participant (or any Non- Participant Party for whom such CDS Participant is acting) is, or is an Affiliate of, the Eligible SWES Reference Entity for such SWES Contract or is subject to an agreement under which it is reasonably likely that the CDS Participant (or any such Non-Participant Party) will become, or will become an Affiliate of, the Eligible SWES Reference Entity for such SWES Contract. Rule 26I-309 is also revised in part (e) to address and distinguish between relevant successor or other events under both 2003- and 2014-Type CDS Contracts, and the corresponding Applicable Credit Derivatives Definitions. --------------------------------------------------------------------------- \3\ As defined in Rule 20-102 (Applicable Credit Derivatives Definitions). --------------------------------------------------------------------------- Rule 26I-315 (Terms of the Cleared SWES Contract) is revised to provide reference to provisions of the proper ISDA Definitions, and corresponding changes to provision numbering are made as necessary. Rule 26I-315(h) is revised to refer to the Applicable Credit Derivatives Definitions and eligible Seniority Level, as appropriate. Defined terms in Rule 26I-316 (Physical Settlement Matrix Updates) are updated to refer specifically to SWES contracts. Rule 26I-616 (Contract Modification) is revised to note that it shall not constitute a Contract Modification if the Board (or its designee) updates the List of Eligible SWES Reference Entities (and modifies the terms and conditions of related SWES Contracts) to give effect to determinations of Succession Events. Finally, ICC proposes amending subchapter 26L of its rules to provide for the clearance of an additional Asia/Pacific Contract, namely the Kingdom of Thailand. ICC plans to offer this contract on the 2003 and 2014 ISDA Credit Derivatives Definitions. The additional Asia/Pacific Contract has terms consistent with the other Asia/Pacific Contracts approved for clearing at ICC and governed by subchapter 26L of the Rules. Minor revisions to subchapter 26L (Asia/Pacific Sovereign (``SAS'') Single Name) are made to provide for clearing the additional Asia/Pacific Contract. Specifically, in Rule 26L-102 (Definitions), ``Eligible SAS Reference Entities'' is modified to include the Kingdom of Thailand in the list of specific Eligible SAS Reference Entities to be cleared by ICC. Section 17A(b)(3)(F) of the Act \4\ 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 and to comply with the provisions of the Act and the rules and regulations thereunder. The additional EM Contracts, Asia/Pacific Contract and the 2003 ISDA Definitions of SWES Contracts proposed for clearing are similar to the EM, SWES, and Asia/Pacific Contracts currently cleared by ICC, and will be cleared pursuant to ICC's existing clearing arrangements and related financial safeguards, protections and risk management procedures. Clearing of the additional EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts will allow market participants an increased ability to manage risk and ensure the safeguarding of margin assets pursuant to clearing house rules. ICC believes that acceptance of the new EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts, on the terms and conditions set out in the Rules, is consistent with the prompt and accurate clearance of and settlement of securities transactions and derivative agreements, contracts and transactions cleared by ICC, the safeguarding of securities and funds in the custody or control of ICC, and the protection of investors and the public interest, within the meaning of Section 17A(b)(3)(F) of the Act.\5\ --------------------------------------------------------------------------- \4\ 15 U.S.C. 78q-1(b)(3)(F). \5\ 15 U.S.C. 78q-1(b)(3)(F). --------------------------------------------------------------------------- Clearing of the additional EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts will also satisfy the requirements of Rule 17Ad-22.\6\ In particular, in terms of financial resources, ICC will apply its existing initial margin methodology to the additional contracts. ICC believes that this model will provide sufficient initial margin requirements to cover its credit exposure to its clearing members from clearing such contracts, consistent with the requirements of Rule 17Ad-22(b)(2).\7\ In addition, ICC believes its Guaranty Fund, under its existing methodology, will, together with the required initial margin, provide sufficient financial resources to support the clearing of the additional contracts consistent with the requirements of Rule 17Ad-22(b)(3).\8\ ICC also believes that its existing operational and managerial resources will be sufficient for clearing of the additional contracts, consistent with the requirements of Rule 17Ad-22(d)(4),\9\ as the new contracts are substantially the same from an operational perspective as existing contracts. Similarly, ICC will use its existing settlement procedures and account structures for the new contracts, consistent with the requirements of Rule 17Ad- 22(d)(5), (12) and (15) \10\ as to the finality and accuracy of its daily settlement process and avoidance of the risk to ICC of settlement failures. ICC determined to accept the additional EM Contracts, Asia/ Pacific Contract and 2003 ISDA Definitions of SWES Contracts for clearing in accordance with its governance process, which included review of the contracts and related risk management considerations by the ICC Risk Committee and approval by its Board. These governance arrangements are consistent with the requirements of Rule 17Ad- 22(d)(8).\11\ Finally, ICC will apply its existing default management policies and procedures for the additional EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts. ICC believes that these procedures allow for it to take timely action to contain losses and liquidity pressures and to continue meeting its obligations in the event of clearing member insolvencies or defaults in [[Page 63833]] respect of the additional single names, in accordance with Rule 17Ad- 22(d)(11).\12\ --------------------------------------------------------------------------- \6\ 17 CFR 240.17Ad-22. \7\ 17 CFR 240.17Ad-22(b)(2). \8\ 17 CFR 240.17Ad-22(b)(3). \9\ 17 CFR 240.17Ad-22(d)(4). \10\ 17 CFR 240.17Ad-22(d)(5), (12) and (15). \11\ 17 CFR 240.17Ad-22(d)(8). \12\ 17 CFR 240.17Ad-22(d)(11). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The additional EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts will be available to all ICC participants for clearing. The clearing of these additional EM Contracts, Asia/ Pacific Contract and 2003 ISDA Definitions of SWES Contracts by ICC does not preclude the offering of the additional EM Contracts, Asia/ Pacific Contract and 2003 ISDA Definitions of SWES Contracts for clearing by other market participants. Accordingly, ICC does not believe that clearance of the additional EM Contracts, Asia/Pacific Contract and 2003 ISDA Definitions of SWES Contracts will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments relating to the proposed rule change have not been solicited or received. ICC will notify the Commission of any written comments received by ICC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-ICC-2016-012 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-ICC-2016-012. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filings will also be available for inspection and copying at the principal office of ICE Clear Credit and on ICE Clear Credit's Web site at https://www.theice.com/clear-credit/regulation. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-ICC-2016-012 and should be submitted on or before October 7, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-22257 Filed 9-15-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 180 / Friday, September 16, 2016 / Notices 63831
because it will allow the Exchange to provisions of 5 U.S.C. 552, will be Western European Sovereign CDS
implement the proposed rules available for Web site viewing and contracts (collectively, ‘‘SWES
immediately thereby preventing delays printing in the Commission’s Public Contracts’’), and an additional Asia/
in the implementation of the Plan. The Reference Room, 100 F Street NE., Pacific Sovereign CDS contract (the
Commission notes that the Plan is Washington, DC 20549, on official ‘‘Asia/Pacific Contract’’).
scheduled to start on October 3, 2016. business days between the hours of 10
II. Self-Regulatory Organization’s
Therefore, the Commission hereby a.m. and 3 p.m. Copies of such filing
Statement of the Purpose of, and
waives the 30-day operative delay and also will be available for inspection and
Statutory Basis for, the Proposed Rule
designates the proposed rule change to copying at the principal office of the
Change
be operative upon filing with the Exchange. All comments received will
Commission.28 be posted without change; the In its filing with the Commission, ICC
At any time within 60 days of the Commission does not edit personal included statements concerning the
filing of the proposed rule change, the identifying information from purpose of and basis for the proposed
Commission summarily may submissions. You should submit only rule change and discussed any
temporarily suspend such rule change if information that you wish to make comments it received on the proposed
it appears to the Commission that such available publicly. All submissions rule change. The text of these statements
action is necessary or appropriate in the should refer to File Number SR–BX– may be examined at the places specified
public interest, for the protection of 2016–048 and should be submitted on in Item IV below. ICC has prepared
investors, or otherwise in furtherance of or before October 7, 2016. summaries, set forth in sections A, B,
the purposes of the Act.29 and C below, of the most significant
For the Commission, by the Division of
Trading and Markets, pursuant to delegated aspects of these statements.
IV. Solicitation of Comments
authority.30 A. Self-Regulatory Organization’s
Interested persons are invited to Robert W. Errett,
submit written data, views and Statement of the Purpose of, and
Deputy Secretary. Statutory Basis for, the Proposed Rule
arguments concerning the foregoing,
including whether the proposed rule [FR Doc. 2016–22250 Filed 9–15–16; 8:45 am] Change
change is consistent with the Act. BILLING CODE 8011–01–P The purpose of the proposed rule
Comments may be submitted by any of change is to adopt rules that will
the following methods: provide the basis for ICC to clear
SECURITIES AND EXCHANGE additional credit default swap contracts.
Electronic Comments COMMISSION ICC believes the addition of these
• Use the Commission’s Internet [Release No. 34–78818; File No. SR–ICC– contracts will benefit the market for
comment form (http://www.sec.gov/ 2016–012] credit default swaps by providing
rules/sro.shtml); or market participants the benefits of
• Send an email to rule-comments@ Self-Regulatory Organizations; ICE clearing, including reduction in
sec.gov. Please include File Number SR– Clear Credit LLC; Notice of Filing of counterparty risk and safeguarding of
BX–2016–048 on the subject line. Proposed Rule Change To Provide for margin assets pursuant to clearing house
the Clearance of Additional Credit rules.
Paper Comments Default Swap Contracts ICC proposes amending subchapter
• Send paper comments in triplicate 26D of its Rules to provide for the
to Secretary, Securities and Exchange September 12, 2016.
Pursuant to section 19(b)(1) of the clearance of additional EM Contracts,
Commission, 100 F Street NE., specifically the Republic of Panama,
Washington, DC 20549–1090. Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2 Abu Dhabi, Dubai, the State of Israel
All submissions should refer to File and the State of Qatar. ICC plans to offer
notice is hereby given that on August
Number SR–BX–2016–048. This file these additional EM Contracts on the
29, 2016, ICE Clear Credit LLC (‘‘ICC’’)
number should be included on the 2003 and 2014 ISDA Credit Derivatives
filed with the Securities and Exchange
subject line if email is used. To help the Definitions.
Commission (‘‘Commission’’) the
Commission process and review your These additional EM Contracts have
proposed rule change as described in
comments more efficiently, please use terms consistent with the other EM
Items I, II, and III below, which Items
only one method. The Commission will Contracts approved for clearing at ICC
have been prepared primarily by ICC.
post all comments on the Commission’s and governed by subchapter 26D of the
The Commission is publishing this
Internet Web site (http://www.sec.gov/ Rules. Minor revisions to Subchapter
notice to solicit comments on the
rules/sro.shtml). Copies of the 26D (Standard Emerging Market
proposed rule change from interested
submission, all subsequent Sovereign (‘‘SES’’) Single Name) are
persons.
amendments, all written statements made to provide for clearing the
with respect to the proposed rule I. Self-Regulatory Organization’s additional EM Contracts. Specifically, in
change that are filed with the Statement of the Terms of Substance of Rule 26D–102 (Definitions), ‘‘Eligible
Commission, and all written the Proposed Rule Change SES Reference Entities’’ is modified to
communications relating to the The principal purpose of the include the Republic of Panama, Abu
proposed rule change between the proposed rule change is to revise the Dhabi, Dubai, the State of Israel and the
Commission and any person, other than ICC Rulebook (the ‘‘Rules’’) to provide State of Qatar in the list of specific
those that may be withheld from the Eligible SES Reference Entities to be
mstockstill on DSK3G9T082PROD with NOTICES
for the clearance of additional Standard
public in accordance with the Emerging Market Sovereign CDS cleared by ICC.
contracts (collectively, ‘‘EM Contracts’’), Additionally, ICC proposes amending
28 For purposes only of waiving the operative
2003 ISDA Definitions of Standard subchapter 26I of its Rules to provide
delay for this proposal, the Commission has for the clearance of 2003 ISDA
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See 30 17 CFR 200.30–3(a)(12). Definitions of SWES Contracts. ICC
15 U.S.C. 78c(f). 1 15 U.S.C. 78s(b)(1). currently clears the 2014 ISDA
29 15 U.S.C. 78s(b)(3)(C). 2 17 CFR 240.19b–4. Definitions of ten SWES Contracts,
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![Federal Register / Vol. 81, No. 180 / Friday, September 16, 2016 / Notices 63833
respect of the additional single names, • Send an email to rule-comments@ SECURITIES AND EXCHANGE
in accordance with Rule 17Ad– sec.gov. Please include File Number SR– COMMISSION
22(d)(11).12 ICC–2016–012 on the subject line.
B. Self-Regulatory Organization’s Paper Comments [Release No. 34–78815; File No. SR–Phlx–
Statement on Burden on Competition 2016–90]
The additional EM Contracts, Asia/ Send paper comments in triplicate to
Secretary, Securities and Exchange Self-Regulatory Organizations;
Pacific Contract and 2003 ISDA NASDAQ PHLX LLC; Notice of Filing
Definitions of SWES Contracts will be Commission, 100 F Street NE.,
Washington, DC 20549–1090. and Immediate Effectiveness of
available to all ICC participants for Proposed Rule Change To Amend Rule
clearing. The clearing of these All submissions should refer to File 3317
additional EM Contracts, Asia/Pacific Number SR–ICC–2016–012. This file
Contract and 2003 ISDA Definitions of number should be included on the September 12, 2016.
SWES Contracts by ICC does not subject line if email is used. To help the Pursuant to Section 19(b)(1) of the
preclude the offering of the additional
Commission process and review your Securities Exchange Act of 1934
EM Contracts, Asia/Pacific Contract and
comments more efficiently, please use (‘‘Act’’),1 and Rule 19b–4 thereunder,2
2003 ISDA Definitions of SWES
only one method. The Commission will notice is hereby given that on August
Contracts for clearing by other market
post all comments on the Commission’s 29, 2016, NASDAQ PHLX LLC (‘‘Phlx’’
participants. Accordingly, ICC does not
Internet Web site (http://www.sec.gov/ or ‘‘Exchange’’) filed with the Securities
believe that clearance of the additional
rules/sro.shtml). Copies of the and Exchange Commission (‘‘SEC’’ or
EM Contracts, Asia/Pacific Contract and
submission, all subsequent ‘‘Commission’’) the proposed rule
2003 ISDA Definitions of SWES
amendments, all written statements change as described in Items I and II
Contracts will impose any burden on
competition not necessary or with respect to the proposed rule below, which Items have been prepared
appropriate in furtherance of the change that are filed with the by the Exchange. The Commission is
purposes of the Act. Commission, and all written publishing this notice to solicit
comments on the proposed rule change
C. Self-Regulatory Organization’s communications relating to the
from interested persons.
Statement on Comments on the proposed rule change between the
Proposed Rule Change Received From Commission and any person, other than I. Self-Regulatory Organization’s
Members, Participants or Others those that may be withheld from the Statement of the Terms of Substance of
public in accordance with the the Proposed Rule Change
Written comments relating to the
provisions of 5 U.S.C. 552, will be
proposed rule change have not been The Exchange proposes to amend
available for Web site viewing and
solicited or received. ICC will notify the Rule 3317 to modify certain data
Commission of any written comments printing in the Commission’s Public
collection requirements of the
received by ICC. Reference Room, 100 F Street NE.,
Regulation NMS Plan to Implement a
Washington, DC 20549, on official Tick Size Pilot Program.
III. Date of Effectiveness of the business days between the hours of
Proposed Rule Change and Timing for 10:00 a.m. and 3:00 p.m. Copies of such The Exchange requests that the
Commission Action filings will also be available for Commission waive the 30-day operative
Within 45 days of the date of inspection and copying at the principal delay period contained in Exchange Act
publication of this notice in the Federal Rule 19b–4(f)(6)(iii).3
office of ICE Clear Credit and on ICE
Register or within such longer period Clear Credit’s Web site at https:// The text of the proposed rule change
up to 90 days (i) as the Commission may www.theice.com/clear-credit/regulation. is available on the Exchange’s Web site
designate if it finds such longer period at http://nasdaqphlx.cchwallstreet.com/
to be appropriate and publishes its All comments received will be posted
, at the principal office of the Exchange,
reasons for so finding or (ii) as to which without change; the Commission does and at the Commission’s Public
the self-regulatory organization not edit personal identifying Reference Room.
consents, the Commission will: information from submissions. You
(A) By order approve or disapprove should submit only information that II. Self-Regulatory Organization’s
the proposed rule change or you wish to make available publicly. All Statement of the Purpose of, and
(B) institute proceedings to determine submissions should refer to File Statutory Basis for, the Proposed Rule
whether the proposed rule change Number SR–ICC–2016–012 and should Change
should be disapproved. be submitted on or before October 7, In its filing with the Commission, the
IV. Solicitation of Comments 2016. Exchange included statements
Interested persons are invited to For the Commission, by the Division of concerning the purpose of and basis for
submit written data, views, and Trading and Markets, pursuant to delegated the proposed rule change and discussed
arguments concerning the foregoing, authority.13 any comments it received on the
including whether the proposed rule Robert W. Errett, proposed rule change. The text of these
change is consistent with the Act. Deputy Secretary. statements may be examined at the
Comments may be submitted by any of [FR Doc. 2016–22257 Filed 9–15–16; 8:45 am]
places specified in Item IV below. The
mstockstill on DSK3G9T082PROD with NOTICES
the following methods: Exchange has prepared summaries, set
BILLING CODE 8011–01–P
forth in sections A, B, and C below, of
Electronic Comments the most significant aspects of such
• Use the Commission’s Internet statements.
comment form (http://www.sec.gov/
rules/sro.shtml); or 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
12 17 CFR 240.17Ad–22(d)(11). 13 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4(f)(6)(iii).
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Document Created: 2016-09-16 00:25:14
Document Modified: 2016-09-16 00:25:14
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 63831 |
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