82 FR 40050 - Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Provide for the Clearance of Additional Credit Default Swap Contracts

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 162 (August 23, 2017)

Page Range		40050-40051
FR Document		2017-17805

Federal Register, Volume 82 Issue 162 (Wednesday, August 23, 2017)

[Federal Register Volume 82, Number 162 (Wednesday, August 23, 2017)]
[Notices]
[Pages 40050-40051]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-17805]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81414; File No. SR-ICC-2017-009]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change To Provide for the Clearance of Additional Credit Default Swap 
Contracts

August 17, 2017.
    On June 13, 2017, 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 to provide for the 
clearance of additional credit default swap contracts (File No. SR-ICC-
2017-009). The proposed rule change was published for comment in the 
Federal Register on July 3, 2017.\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. 34-81029 (June 27, 
2017), 82 FR 30931 (July 3, 2017) (SR-ICC-2017-008) (``Notice'').
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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

[[Page 40051]]

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 August 17, 2017.
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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 proposes to revise the ICC 
Rulebook to provide for the clearance of Standard Asia Corporate Single 
Name CDS contracts, Standard Asia Financial Corporate Single Name CDS 
contracts, and Standard Emerging Market Corporate Single Name CDS 
contracts. 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 October 1, 2017, 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-2017-009).
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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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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-17805 Filed 8-22-17; 8:45 am]
BILLING CODE 8011-01-P

40050 Federal Register / Vol. 82, No. 162 / Wednesday, August 23, 2017 / Notices

should simplify and streamline the Commission, 100 F Street NE., issues, but rather would add greater
Exchange’s administration of its rules. Washington, DC 20549–1090. clarity to the proposed rule change.
Thus, the Commission believes that the All submissions should refer to File Accordingly, the Commission finds
proposed changes related to integration Number SR–NYSEArca–2017–40. This good cause, pursuant to Section 19(b)(2)
of the NYSE Arca Equities rules into the file number should be included on the of the Exchange Act,66 to approve the
NYSE Arca rules are consistent with subject line if email is used. To help the proposed rule change, as modified by
Sections 6(b)(1) and 6(b)(5) of the Act. Commission process and review your Amendment No. 2 on an accelerated
Finally, the Exchange proposes comments more efficiently, please use basis.
certain changes to the disciplinary only one method. The Commission will VI. Conclusion
proceedings rules governing its Permit post all comments on the Commission’s
Holders. The Exchange proposes to It is therefore ordered, pursuant to
Internet Web site (http://www.sec.gov/
incorporate the rules relating to the Section 19(b)(2) of the Exchange Act,67
rules/sro.shtml). Copies of the
current NYSE Arca Equities Business that the proposed rule change (SR–
submission, all subsequent
Conduct Committee (referred to as ‘‘the NYSEArca–2017–40), as modified by
amendments, all written statements Amendment No. 2 thereto, be, and
BCC’’) into the Exchange’s rules and to with respect to the proposed rule
integrate the rules for disciplinary hereby is, approved on an accelerated
change that are filed with the basis.
proceedings to cover both ETP Holders Commission, and all written
and OTP Holders. The Exchange communications relating to the For the Commission, by the Division of
represents that the proposed changes Trading and Markets, pursuant to delegated
proposed rule change between the
would provide that disciplinary authority.68
Commission and any person, other than
proceedings involving ETP Holders Eduardo A. Aleman,
those that may be withheld from the
would continue to be heard by the BCC, public in accordance with the Assistant Secretary.
while disciplinary proceedings provisions of 5 U.S.C. 552, will be [FR Doc. 2017–17808 Filed 8–22–17; 8:45 am]
involving OTP Holders would continue available for Web site viewing and BILLING CODE 8011–01–P
to be heard by the Ethics and Business printing in the Commission’s Public
Conduct Committee (referred to as ‘‘the Reference Room, 100 F Street NE.,
EBCC’’).65 The Exchange also proposes Washington, DC 20549 on official SECURITIES AND EXCHANGE
revisions to its rules to clarify that the business days between the hours of COMMISSION
review of decisions by either the BCC or 10:00 a.m. and 3:00 p.m. Copies of the [Release No. 34–81414; File No. SR–ICC–
EBCC would be heard by the CFR, a filing also will be available for 2017–009]
committee of the Board, rather than the inspection and copying at the principal
full Board. The Commission notes, office of the Exchange. All comments Self-Regulatory Organizations; ICE
however, that the proposed changes received will be posted without change; Clear Credit LLC; Notice of
would not fundamentally alter the the Commission does not edit personal Designation of Longer Period for
current disciplinary procedures for identifying information from Commission Action on Proposed Rule
either ETP Holders or OTP Holders, but submissions. You should submit only Change To Provide for the Clearance
would continue the existing information that you wish to make of Additional Credit Default Swap
disciplinary processes in a single available publicly. All submissions Contracts
rulebook and would provide further should refer to File Number SR– August 17, 2017.
clarity about the Exchange’s current NYSEArca–2017–40 and should be
review process. Thus, the Commission On June 13, 2017, ICE Clear Credit
submitted by September 13, 2017. LLC (‘‘ICC’’) filed with the Securities
finds that the proposed changes to the
disciplinary rules are consistent with V. Accelerated Approval of Proposed and Exchange Commission
Rule Change, as Modified by (‘‘Commission’’), pursuant to Section
Sections 6(b)(5) and 6(b)(7) of the Act.
Amendment No. 2 19(b)(1) of the Securities Exchange Act
IV. Solicitation of Comments on (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
Amendment No. 2 The Commission finds good cause to proposed rule change to provide for the
approve the proposed rule change, as clearance of additional credit default
Interested persons are invited to
modified by Amendment No. 2, prior to swap contracts (File No. SR–ICC–2017–
submit written data, views, and
the 30th day after the date of 009). The proposed rule change was
arguments concerning the foregoing,
publication of notice of Amendment No. published for comment in the Federal
including whether Amendment No. 2 to
2 in the Federal Register. As discussed Register on July 3, 2017.3 To date, the
the proposed rule change is consistent
above, Amendment No. 2 revises the Commission has not received comments
with the Exchange Act. Comments may
Exchange’s rule text primarily to reflect on the proposed rule change.
be submitted by any of the following
updates to its rules that resulted from Section 19(b)(2) of the Act 4 provides
methods:
Exchange filings that became effective that within 45 days of the publication of
Electronic Comments after the Exchange filed the original notice of the filing of a proposed rule
• Use the Commission’s Internet proposed rule change and to make other change, or within such longer period up
comment form (http://www.sec.gov/ clarifying, correcting, or updating to 90 days as the Commission may
rules/sro.shtml); or changes to the proposed rule text. In designate if it finds such longer period
asabaliauskas on DSKBBXCHB2PROD with NOTICES

• Send an email to rule-comments@ addition, in Amendment No. 2, the
sec.gov. Please include File Number SR– Exchange modifies its original proposal 66 15 U.S.C. 78s(b)(2).
NYSEArca–2017–40 on the subject line. by carrying over the Equities Fee 67 Id.
68 17 CFR 200.30–3(a)(12).
Schedule, as set forth in new Exhibit 5E,
Paper Comments and making minor updating changes
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
• Send paper comments in triplicate instead of replacing that fee schedule in 3 Securities Exchange Act Release No. 34–81029
to Secretary, Securities and Exchange its entirety. The Commission believes (June 27, 2017), 82 FR 30931 (July 3, 2017) (SR–
that the proposed changes in ICC–2017–008) (‘‘Notice’’).
65 See id. Amendment No. 2 do not raise any new 4 15 U.S.C. 78s(b)(2).

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Federal Register / Vol. 82, No. 162 / Wednesday, August 23, 2017 / Notices 40051

to be appropriate and publishes its of 1934 (‘‘Exchange Act’’) 1 and Rule of the proposed rule change. The
reasons for so finding or as to which the 19b–4 thereunder,2 a proposed rule Commission may, however, extend the
self-regulatory organization consents, change to adopt the CHX Liquidity period for issuing an order approving or
the Commission shall either approve the Enhancing Access Delay (‘‘LEAD’’). The disapproving the proposed rule change
proposed rule change, disapprove the proposed rule change was published for by not more than 60 days if the
proposed rule change, or institute comment in the Federal Register on Commission determines that a longer
proceedings to determine whether the February 21, 2017.3 On April 3, 2017, period is appropriate and publishes the
proposed rule change should be the Commission designated a longer reasons for such determination. The
disapproved. The 45th day from the period within which to approve the proposed rule change was published for
publication of notice of filing of this proposed rule change, disapprove the notice and comment in the Federal
proposed rule change is August 17, proposed rule change, or institute Register on February 21, 2017.10 August
2017. proceedings to determine whether the 20, 2017 is 180 days from that date, and
The Commission is extending the 45- proposed rule change should be October 19, 2017 is 240 days from that
day time period for Commission action disapproved.4 The Commission received date.
on the proposed rule change. ICC’s eleven comment letters on the proposed The Commission finds it appropriate
proposes to revise the ICC Rulebook to rule change, including a response from to designate a longer period within
provide for the clearance of Standard the Exchange.5 On May 22, 2017, the which to issue an order approving or
Asia Corporate Single Name CDS Commission instituted proceedings disapproving the proposed rule change
contracts, Standard Asia Financial under Section 19(b)(2)(B) of the so that it has sufficient time to consider
Corporate Single Name CDS contracts, Exchange Act 6 to determine whether to the proposed rule change, the issues
and Standard Emerging Market approve or disapprove the proposed raised in the comment letters that have
Corporate Single Name CDS contracts. rule change.7 Since then, the been submitted in connection therewith,
The Commission finds it is appropriate Commission has received six more and the Exchange’s responses to the
to designate a longer period within comment letters, including a response comments. Accordingly, the
which to take action on the proposed from the Exchange.8 Commission, pursuant to Section
rule change so that it has sufficient time Section 19(b)(2) of the Act 9 provides 19(b)(2) of the Act,11 designates October
to consider ICC’s proposed rule change. that, after initiating proceedings, the 19, 2017 as the date by which the
Accordingly, the Commission, Commission shall issue an order Commission should either approve or
pursuant to Section 19(b)(2) 5 of the Act, approving or disapproving the proposed disapprove the proposed rule change
designates October 1, 2017, as the date rule change not later than 180 days after (File No. SR–CHX–2017–04).
by which the Commission should either the date of publication of notice of filing
For the Commission, by the Division of
approve or disapprove, or institute 1 15
Trading and Markets, pursuant to delegated
U.S.C. 78s(b)(1). authority.12
proceedings to determine whether to 2 17 CFR 240.19b–4.
disapprove, the proposed rule change 3 See Securities Exchange Act Release No. 80041 Eduardo A. Aleman,
(File No. SR–ICC–2017–009). (February 14, 2017), 82 FR 11252 (‘‘Notice’’). Assistant Secretary.
4 See Securities Exchange Act Release No. 80364,
For the Commission, by the Division of [FR Doc. 2017–17806 Filed 8–22–17; 8:45 am]
82 FR 17065 (April 7, 2017).
Trading and Markets, pursuant to delegated 5 See letters from: (1) Ryan Hitch, Head of
BILLING CODE 8011–01–P
authority.6
Equities Trading, XR Securities LLC, dated
Eduardo A. Aleman, February 24, 2017; (2) Douglas A. Cifu, Chief
Assistant Secretary. Executive Officer, Virtu Financial LLC, dated SECURITIES AND EXCHANGE
February 27, 2017; (3) Joanna Mallers, Secretary, COMMISSION
[FR Doc. 2017–17805 Filed 8–22–17; 8:45 am] FIA Principal Traders Group, dated March 13, 2017;
BILLING CODE 8011–01–P (4) Adam Nunes, Head of Business Development, [Release No. 34–81418; File No. SR–
Hudson River Trading LLC, dated March 13, 2017; NYSEAMER–2017–06]
(5) R.T. Leuchtkafer, dated March 14, 2017; (6)
Stephen John Berger, Managing Director, Self-Regulatory Organizations; NYSE
SECURITIES AND EXCHANGE Government & Regulatory Policy, Citadel Securities,
COMMISSION dated March 14, 2017; (7) Tyler Gellasch, Executive American LLC; Notice of Filing and
Director, Healthy Markets Association, March 17, Immediate Effectiveness of Proposed
[Release No. 34–81415; File No. SR–CHX– 2017; (8) Elizabeth K. King, General Counsel and Rule Change To Add Certain Rules
2017–04] Corporate Secretary, New York Stock Exchange,
dated March 20, 2017; (9) James G. Ongena,
Adopted in Connection With the
Executive Vice President and General Counsel, Exchange’s Transition to a Fully-
Self-Regulatory Organizations;
CHX, dated March 24, 2017; (10) Steve Crutchfield, Automated Cash Equities Market to the
Chicago Stock Exchange, Inc.; Notice Head of Market Structure, CTC Trading Group, LLC, List of Minor Rule Violations in Rule
of Designation of Longer Period for dated April 4, 2017; and (11) Theodore R. Lazo,
9217 of the Office Rules
Commission Action on Proceedings To Managing Director and Associate General Counsel,
Determine Whether To Approve or Securities Industry and Financial Markets
Association, dated May 17, 2017. All comments on
August 17, 2017.
Disapprove a Proposed Rule Change the proposed rule change are available at: https:// Pursuant to Section 19(b)(1) 1 of the
To Adopt the CHX Liquidity Enhancing www.sec.gov/comments/sr-chx-2017-04/ Securities Exchange Act of 1934
Access Delay chx201704.htm. (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
6 15 U.S.C. 78s(b)(2)(B).
notice is hereby given that on August 9,
August 17, 2017. 7 See Securities Exchange Act Release No. 80740,
2017, NYSE American LLC (‘‘NYSE
asabaliauskas on DSKBBXCHB2PROD with NOTICES

On February 10, 2017, the Chicago 82 FR 24412 (May 26, 2017).
8 See letters from: (1) R. T. Leuchtkafer, dated American’’ or the ‘‘Exchange’’) filed
Stock Exchange, Inc. (‘‘CHX’’ or June 15, 2017; (2) Stephen Berger, Managing with the Securities and Exchange
‘‘Exchange’’) filed with the Securities Director, Government and Regulatory Policy,
and Exchange Commission Citadel Securities, dated June 16, 2017; (3) Joanna 10 See supra text accompanying note 3.
(‘‘Commission’’), pursuant to Section Mallers, Secretary, FIA Principal Traders Group, 11 15
dated June 16, 2017; (4) James G. Ongena, Executive U.S.C. 78s(b)(2).
19(b)(1) of the Securities Exchange Act Vice President, General Counsel, CHX, dated June
12 17 CFR 200.30–3(a)(57).
1 15 U.S.C. 78s(b)(1).
30, 2017; (5) R. T. Leuchtkafer, dated July 7, 2017;
5 15 U.S.C. 78s(b)(2). and (6) R. T. Leuchtkafer, dated July 10, 2017. 2 15 U.S.C. 78a.
6 17 CFR 200.30–3(a)(31). 9 15 U.S.C. 78s(b)(2). 3 17 CFR 240.19b–4.

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Document Created: 2017-08-22 23:51:41
Document Modified: 2017-08-22 23:51:41

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		82 FR 40050