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 January 8, 2025, Banque Centrale de Compensation, which conducts business under the name LCH SA (“LCH SA”), filed with the Securities and Exchange Commission (“Commission”) the proposed rule change (“Proposed Rule Change”) described in Item I below, which Item has been substantially prepared by LCH SA. LCH SA has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act ^[3] and Rule 19b-4(f) thereunder.^[4] The Commission is publishing this notice to solicit comments on the Proposed Rule Change from interested persons.

I. Clearing Agency's Statement of the Terms of Substance of the Proposed Rule Change

LCH SA is proposing to amend its CDSClear fee grid for 2025 (the “Fee Grid”) by incorporating changes in the CDSClear business and clearing services offered (the “Proposed Rule Change”). The text of the Proposed Rule Change has been annexed [sic] as Exhibit 5 [sic] to File No. SR-LCH SA-2025-001.^[5]

The implementation of the Proposed Rule Change will be contingent on LCH SA's receipt of all necessary regulatory approvals.

The proposed rule change, including LCH SA's statement of the purpose of, and statutory basis for, the proposed rule change, is available on LCH SA's website at www.lseg.com/​en/​post-trade/​clearing/​clearing-resources/​rulebooks/​proposed-rule-changes#t-sa and on the Commission's website at www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​lchsa?​file number=LCH SA-2025-001.

II. 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.^[6] Comments may be submitted electronically by using the Commission's internet comment form ( www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​lchsa?​filenumber=​LCHSA-2025-001) or by sending an email to rule-comments@sec.gov. Please include file number SR-LCH SA-2025-001 on the subject line. Alternatively, paper comments may be sent to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-LCH SA-2025-001. 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 website ( www.sec.gov/​rules-regulations/​self-regulatory-organization-rulemaking/​lchsa?​filenumber=​LCHSA-2025-001).

Do not include personal identifiable information in submissions; you should submit only information that you wish to make available publicly. We may redact in part or withhold entirely from publication submitted material that is obscene or subject to copyright protection. All submissions should refer to File Number SR-LCH SA-2025-001 and should be submitted on or before February 11, 2025.