83 FR 46000 - Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to ICC's Risk Management Model Description Document and ICC's Risk Management Framework

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 176 (September 11, 2018)

Page Range		46000-46000
FR Document		2018-19637

Federal Register, Volume 83 Issue 176 (Tuesday, September 11, 2018)

[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Page 46000]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-19637]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84032; File No. SR-ICC-2018-008]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change Relating to ICC's Risk Management Model Description Document and 
ICC's Risk Management Framework

September 5, 2018.
    On July 5, 2018, ICE Clear Credit LLC (``ICC'') filed with the 
Securities and Exchange Commission (``Commission'') a proposed rule 
change to transition ICC from a stress-based methodology to a Monte 
Carlo-based methodology for the spread-response and recovery-rate-
sensitivity-response components of the initial margin model (SR-ICC-
2018-008) (``Proposed Rule Change''), pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder.\2\ The Proposed Rule Change was published for comment in 
the Federal Register on July 24, 2018.\3\ The Commission did not 
receive any comments on the Proposed Rule Change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 83662 (July 18, 2018), 
83 FR 35033 (July 24, 2018) (SR-ICC-2018-008).
---------------------------------------------------------------------------

    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 after publication of the notice for the Proposed Rule Change 
is September 7, 2018.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission is extending the 45-day time period for Commission 
action on the Proposed Rule Change. The Commission finds that 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 and 
take action on the Proposed Rule Change.
    Accordingly, pursuant to Section 19(b)(2) of the Act \5\ and for 
the reasons stated above, the Commission designates October 22, 2018 as 
the date by which the Commission shall either approve, disapprove, or 
institute proceedings to determine whether to disapprove proposed rule 
change SR-ICC-2018-008.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-19637 Filed 9-10-18; 8:45 am]
 BILLING CODE 8011-01-P

46000 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices

purposes of qualifying for Priority communications relating to the Register on July 24, 2018.3 The
Customer Rebates. proposed rule change between the Commission did not receive any
Commission and any person, other than comments on the Proposed Rule
C. Self-Regulatory Organization’s
those that may be withheld from the Change.
Statement on Comments on the
public in accordance with the Section 19(b)(2) of the Act 4 provides
Proposed Rule Change Received From
provisions of 5 U.S.C. 552, will be
Members, Participants, or Others that within 45 days of the publication of
available for website viewing and
No written comments were either notice of the filing of a proposed rule
printing in the Commission’s Public
solicited or received. Reference Room, 100 F Street NE, change, or within such longer period up
Washington, DC 20549, on official to 90 days as the Commission may
III. Date of Effectiveness of the designate if it finds such longer period
Proposed Rule Change and Timing for business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also to be appropriate and publishes its
Commission Action reasons for so finding or as to which the
will be available for inspection and
The foregoing rule change has become copying at the principal office of the self-regulatory organization consents,
effective pursuant to Section Exchange. All comments received will the Commission shall either approve the
19(b)(3)(A)(ii) of the Act.17 At any time be posted without change; the proposed rule change, disapprove the
within 60 days of the filing of the Commission does not edit personal proposed rule change, or institute
proposed rule change, the Commission identifying information from proceedings to determine whether the
summarily may temporarily suspend submissions. You should submit only proposed rule change should be
such rule change if it appears to the information that you wish to make disapproved. The 45th day after
Commission that such action is: (i) available publicly. All submissions publication of the notice for the
Necessary or appropriate in the public should refer to File Number SR–ISE– Proposed Rule Change is September 7,
interest; (ii) for the protection of 2018–76 and should be submitted on or 2018.
investors; or (iii) otherwise in before October 2, 2018.
furtherance of the purposes of the Act. The Commission is extending the 45-
If the Commission takes such action, the For the Commission, by the Division of day time period for Commission action
Trading and Markets, pursuant to delegated on the Proposed Rule Change. The
Commission shall institute proceedings
authority.18
to determine whether the proposed rule Commission finds that it is appropriate
Eduardo A. Aleman, to designate a longer period within
should be approved or disapproved.
Assistant Secretary. which to take action on the Proposed
IV. Solicitation of Comments [FR Doc. 2018–19642 Filed 9–10–18; 8:45 am] Rule Change so that it has sufficient
Interested persons are invited to BILLING CODE 8011–01–P time to consider and take action on the
submit written data, views, and Proposed Rule Change.
arguments concerning the foregoing,
including whether the proposed rule SECURITIES AND EXCHANGE Accordingly, pursuant to Section
change is consistent with the Act. COMMISSION 19(b)(2) of the Act 5 and for the reasons
Comments may be submitted by any of stated above, the Commission
the following methods: [Release No. 34–84032; File No. SR–ICC– designates October 22, 2018 as the date
2018–008] by which the Commission shall either
Electronic Comments approve, disapprove, or institute
• Use the Commission’s internet Self-Regulatory Organizations; ICE proceedings to determine whether to
comment form (http://www.sec.gov/ Clear Credit LLC; Notice of disapprove proposed rule change SR–
rules/sro.shtml); or Designation of Longer Period for ICC–2018–008.
• Send an email to rule-comments@ Commission Action on Proposed Rule
For the Commission, by the Division of
sec.gov. Please include File Number SR– Change Relating to ICC’s Risk
Trading and Markets, pursuant to delegated
ISE–2018–76 on the subject line. Management Model Description
authority.6
Document and ICC’s Risk Management
Paper Comments Eduardo A. Aleman,
Framework
• Send paper comments in triplicate Assistant Secretary.
to Secretary, Securities and Exchange September 5, 2018. [FR Doc. 2018–19637 Filed 9–10–18; 8:45 am]
Commission, 100 F Street NE, On July 5, 2018, ICE Clear Credit LLC BILLING CODE 8011–01–P
Washington, DC 20549–1090. (‘‘ICC’’) filed with the Securities and
All submissions should refer to File Exchange Commission (‘‘Commission’’)
Number SR–ISE–2018–76. This file a proposed rule change to transition ICC
number should be included on the from a stress-based methodology to a
subject line if email is used. To help the Monte Carlo-based methodology for the
Commission process and review your spread-response and recovery-rate-
comments more efficiently, please use sensitivity-response components of the
only one method. The Commission will initial margin model (SR–ICC–2018–
post all comments on the Commission’s 008) (‘‘Proposed Rule Change’’),
internet website (http://www.sec.gov/ pursuant to Section 19(b)(1) of the
rules/sro.shtml). Copies of the Securities Exchange Act of 1934
daltland on DSKBBV9HB2PROD with NOTICES

submission, all subsequent (‘‘Act’’) 1 and Rule 19b–4 thereunder.2
amendments, all written statements The Proposed Rule Change was 3 Securities Exchange Act Release No. 83662 (July

with respect to the proposed rule published for comment in the Federal 18, 2018), 83 FR 35033 (July 24, 2018) (SR–ICC–
change that are filed with the 2018–008).
Commission, and all written 18 17 CFR 200.30–3(a)(12). 4 15 U.S.C. 78s(b)(2).

1 15 5 15 U.S.C. 78s(b)(2).
U.S.C. 78s(b)(1).
17 15 U.S.C. 78s(b)(3)(A)(ii). 2 17 CFR 240.19b–4. 6 17 CFR 200.30–3(a)(12).

VerDate Sep<11>2014 18:49 Sep 10, 2018 Jkt 244001 PO 00000 Frm 00126 Fmt 4703 Sfmt 9990 E:\FR\FM\11SEN1.SGM 11SEN1

Document Created: 2018-09-11 01:02:05
Document Modified: 2018-09-11 01:02:05

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		83 FR 46000