Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Revised Fee Schedule, 48937-48938 [2015-20008]
Download as PDF
<![CDATA[
48937
Federal Register / Vol. 80, No. 157 / Friday, August 14, 2015 / Notices
Annual
responses
Form No.
Time
(minutes)
Burden
(hours)
G–346 ..........................................................................................................................................
G–346sum ...................................................................................................................................
4,830
2,070
5
5
403
172
Total ......................................................................................................................................
6,900
........................
575
Charles Mierzwa,
Chief of Information Resources Management.
[FR Doc. 2015–20079 Filed 8–13–15; 8:45 am]
BILLING CODE 7905–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75657; File No. SR–ICEEU–
2015–014]
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Adopt
Revised Fee Schedule
August 10, 2015.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
these statements may be examined at
the places specified in Item IV below.
ICE Clear Europe has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of such statements.
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August 3,
2015, ICE Clear Europe Limited (‘‘ICE
Clear Europe’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change described in Items I, II and III
below, which Items have been primarily
prepared by ICE Clear Europe. ICE Clear
Europe filed the proposal pursuant to
Section 19(b)(3)(A) of the Act,3 and Rule
19b–4(f)(2) 4 thereunder, so that the
proposal was effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
Additional Information or Comments:
Copies of the forms and supporting
documents can be obtained from Dana
Hickman at (312) 751–4981 or
Dana.Hickman@RRB.GOV.
Comments regarding the information
collection should be addressed to
Charles Mierzwa, Railroad Retirement
Board, 844 North Rush Street, Chicago,
Illinois, 60611–2092 or
Charles.Mierzwa@RRB.GOV and to the
OMB Desk Officer for the RRB, Fax:
202–395–6974, Email address:
OIRA_Submission@omb.eop.gov.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is for ICE Clear Europe to specify
certain fees (and related volume
discounts) applicable to segregated
customer accounts, margin flow comingled accounts (also known as
‘‘individually segregated, operationally
co-mingled’’ or ‘‘ISOC’’ accounts) and
individually segregated sponsored
accounts of Non-FCM/BD Clearing
Members that are required to be made
available under the European Market
Infrastructure Regulation (EMIR)
(collectively, the ‘‘EMIR Customer
Accounts’’). Certain such accounts may
also be used by Non-FCM/BD Clearing
Members prior to EMIR authorization of
ICE Clear Europe.
Specifically, an application fee and an
annual fee will apply to various EMIR
Customer Accounts as follows:
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 specify
certain fees applicable to the
maintenance of certain segregated
customer accounts at ICE Clear Europe.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, ICE
Clear Europe included statements
concerning the purpose of and basis for
the proposed rule change. The text of
Application fee
Annual fee
Segregated Customer Accounts (‘‘F’’, ‘‘S’’ and ‘‘T’’) ...............................
ISOC Account (‘‘I’’ and ‘‘J’’ Account) ......................................................
Waived ...........................................
Waived ...........................................
Individually Segregated Sponsored Account (‘‘Sponsored Account’’) ....
Ö10,000 per Sponsored Principal ..
Waived.
Ö5,000 per annum per Individual
Customer.
Ö25,000 per annum per Sponsored Principal.
The rule change also establishes
volume discounts applicable where a
client establishes a number of separate
Minimum
number of
accounts
Number of accounts
asabaliauskas on DSK5VPTVN1PROD with NOTICES
individually segregated accounts,
detailed as follows:
Individual Accounts ..................................
50 or more ...............................................
100 or more .............................................
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
18:50 Aug 13, 2015
Minimum cost
of ISOC
package
Sponsored
principal
application fee
5,000
3,300
2,150
5,000
165,000
215,000
10,000
N/A
N/A
1
50
100
3 15
4 17
Jkt 235001
Cost per ISOC
account
(EUR p.a.)
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
Frm 00134
Fmt 4703
Sfmt 4703
E:\FR\FM\14AUN1.SGM
14AUN1
Cost per SP
account
(EUR p.a.)
25,000
16,500
10,750
Minimum cost
of SP package
35,000
825,000
1,085,000
48938
Federal Register / Vol. 80, No. 157 / Friday, August 14, 2015 / Notices
The rule change also specifies the
timing of payment of such fees, with
annual fees initially becoming due on
August 31, 2015, as set forth in further
detail in a Circular to be published by
ICE Clear Europe.
2. Statutory Basis
ICE Clear Europe has determined that
the fees are reasonable and appropriate
to charge for establishing and
maintaining EMIR Customer Accounts
for Non-FCM/BD Clearing Members. In
particular, ICE Clear Europe believes
that the fees, and related volume
discounts from them, have been set at
an appropriate level given the costs and
expenses to ICE Clear Europe in offering
and maintaining the relevant EMIR
Customer Accounts. The fees (and
related discounts) apply equally to all
Non-FCM/BD Clearing Members that
use EMIR Customer Accounts. ICE Clear
Europe believes that imposing such
clearing fees is consistent with the
requirements of Section 17A of the Act 5
and the regulations thereunder
applicable to it, and in particular
provides for the equitable allocation of
reasonable dues, fees, and other charges
among its Clearing Members, within the
meaning of Section 17A(b)(3)(D) of the
Act.6 ICE Clear Europe thus believes
that the proposed rule change is
consistent with the requirements of
Section 17A of the Act and regulations
thereunder applicable to it.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
ICE Clear Europe does not believe the
proposed rule change would have any
impact, or impose any burden, on
competition not necessary or
appropriate in furtherance of the
purpose of the Act. As noted above, ICE
Clear Europe believes that the fees and
related discounts have been set at an
appropriate level given the costs and
expenses to ICE Clear Europe in offering
and maintaining the relevant EMIR
Customer Accounts. The fees and
related discounts apply equally to all
Non-FCM/BD Clearing Members that
use EMIR Customer Accounts. ICE Clear
Europe does not believe that the
amendments would adversely affect the
ability of such Clearing Members or
other market participants generally to
engage in cleared transactions or to
access clearing. ICE Clear Europe further
believes that the fees will not otherwise
adversely affect competition among
Clearing Members, adversely affect the
market for clearing services or limit
market participants’ choices for
obtaining clearing services.
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. ICE Clear Europe
will notify the Commission of any
written comments received by ICE Clear
Europe.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective upon filing
pursuant to Section 19(b)(3)(A) 7 of the
Act and Rule 19b–4(f)(2) 8 thereunder
because it establishes a fee or other
charge imposed by ICE Clear Europe on
its Clearing Members. Specifically, the
proposed rule change will establish fees
to be paid by Non-FCM/BD Clearing
Members to ICE Clear Europe in
connection with EMIR Customer
Accounts. At any time within 60 days
of the filing of the proposed rule change,
the Commission summarily may
temporarily suspend such proposed rule
change if it appears to the Commission
that such action is necessary or
appropriate in the public interest, for
the protection of investors, or otherwise
in furtherance of the purposes of the
Act.
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 Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml) or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
ICEEU–2015–014 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–ICEEU–2015–014. 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 (https://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 Europe and on ICE
Clear Europe’s Web site at https://
www.theice.com/clear-europe/
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–ICEEU–
2015–014 and should be submitted on
or before September 4, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–20008 Filed 8–13–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75656; File No. SR–ICC–
2015–014]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Implement Single
Name Backloading Incentive Program
August 10, 2015.
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 July 30,
2015, ICE Clear Credit LLC (‘‘ICC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
9 17
5 15
U.S.C. 78q–1.
6 15 U.S.C. 78q–1(b)(3)(D).
VerDate Sep<11>2014
18:50 Aug 13, 2015
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
7 15
U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b–4(f)(2).
Jkt 235001
PO 00000
Frm 00135
Fmt 4703
1 15
Sfmt 4703
E:\FR\FM\14AUN1.SGM
14AUN1
]]>Agencies
[Federal Register Volume 80, Number 157 (Friday, August 14, 2015)]
[Notices]
[Pages 48937-48938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-20008]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75657; File No. SR-ICEEU-2015-014]
Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt
Revised Fee Schedule
August 10, 2015.
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 3, 2015, ICE Clear Europe Limited (``ICE Clear Europe'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change described in Items I, II and III below, which
Items have been primarily prepared by ICE Clear Europe. ICE Clear
Europe filed the proposal pursuant to Section 19(b)(3)(A) of the
Act,\3\ and Rule 19b-4(f)(2) \4\ thereunder, so that the proposal was
effective upon filing with the Commission. 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.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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 specify
certain fees applicable to the maintenance of certain segregated
customer accounts at ICE Clear Europe.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, ICE Clear Europe included
statements concerning the purpose of and basis for the proposed rule
change. The text of these statements may be examined at the places
specified in Item IV below. ICE Clear Europe has prepared summaries,
set forth in sections A, B, and C below, of the most significant
aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is for ICE Clear Europe to
specify certain fees (and related volume discounts) applicable to
segregated customer accounts, margin flow co-mingled accounts (also
known as ``individually segregated, operationally co-mingled'' or
``ISOC'' accounts) and individually segregated sponsored accounts of
Non-FCM/BD Clearing Members that are required to be made available
under the European Market Infrastructure Regulation (EMIR)
(collectively, the ``EMIR Customer Accounts''). Certain such accounts
may also be used by Non-FCM/BD Clearing Members prior to EMIR
authorization of ICE Clear Europe.
Specifically, an application fee and an annual fee will apply to
various EMIR Customer Accounts as follows:
------------------------------------------------------------------------
Application fee Annual fee
------------------------------------------------------------------------
Segregated Customer Accounts Waived............ Waived.
(``F'', ``S'' and ``T'').
ISOC Account (``I'' and ``J'' Waived............ [euro]5,000 per
Account). annum per
Individual
Customer.
Individually Segregated [euro]10,000 per [euro]25,000 per
Sponsored Account (``Sponsored Sponsored annum per
Account''). Principal. Sponsored
Principal.
------------------------------------------------------------------------
The rule change also establishes volume discounts applicable where
a client establishes a number of separate individually segregated
accounts, detailed as follows:
--------------------------------------------------------------------------------------------------------------------------------------------------------
Sponsored
Minimum Cost per ISOC Minimum cost principal Cost per SP Minimum cost
Number of accounts number of account (EUR of ISOC application account (EUR of SP package
accounts p.a.) package fee p.a.)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Individual Accounts..................................... 1 5,000 5,000 10,000 25,000 35,000
50 or more.............................................. 50 3,300 165,000 N/A 16,500 825,000
100 or more............................................. 100 2,150 215,000 N/A 10,750 1,085,000
--------------------------------------------------------------------------------------------------------------------------------------------------------
[[Page 48938]]
The rule change also specifies the timing of payment of such fees,
with annual fees initially becoming due on August 31, 2015, as set
forth in further detail in a Circular to be published by ICE Clear
Europe.
2. Statutory Basis
ICE Clear Europe has determined that the fees are reasonable and
appropriate to charge for establishing and maintaining EMIR Customer
Accounts for Non-FCM/BD Clearing Members. In particular, ICE Clear
Europe believes that the fees, and related volume discounts from them,
have been set at an appropriate level given the costs and expenses to
ICE Clear Europe in offering and maintaining the relevant EMIR Customer
Accounts. The fees (and related discounts) apply equally to all Non-
FCM/BD Clearing Members that use EMIR Customer Accounts. ICE Clear
Europe believes that imposing such clearing fees is consistent with the
requirements of Section 17A of the Act \5\ and the regulations
thereunder applicable to it, and in particular provides for the
equitable allocation of reasonable dues, fees, and other charges among
its Clearing Members, within the meaning of Section 17A(b)(3)(D) of the
Act.\6\ ICE Clear Europe thus believes that the proposed rule change is
consistent with the requirements of Section 17A of the Act and
regulations thereunder applicable to it.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78q-1.
\6\ 15 U.S.C. 78q-1(b)(3)(D).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
ICE Clear Europe does not believe the proposed rule change would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purpose of the Act. As noted above,
ICE Clear Europe believes that the fees and related discounts have been
set at an appropriate level given the costs and expenses to ICE Clear
Europe in offering and maintaining the relevant EMIR Customer Accounts.
The fees and related discounts apply equally to all Non-FCM/BD Clearing
Members that use EMIR Customer Accounts. ICE Clear Europe does not
believe that the amendments would adversely affect the ability of such
Clearing Members or other market participants generally to engage in
cleared transactions or to access clearing. ICE Clear Europe further
believes that the fees will not otherwise adversely affect competition
among Clearing Members, adversely affect the market for clearing
services or limit market participants' choices for obtaining clearing
services.
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. ICE Clear Europe will notify the Commission of
any written comments received by ICE Clear Europe.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change has become effective upon filing
pursuant to Section 19(b)(3)(A) \7\ of the Act and Rule 19b-4(f)(2) \8\
thereunder because it establishes a fee or other charge imposed by ICE
Clear Europe on its Clearing Members. Specifically, the proposed rule
change will establish fees to be paid by Non-FCM/BD Clearing Members to
ICE Clear Europe in connection with EMIR Customer Accounts. At any time
within 60 days of the filing of the proposed rule change, the
Commission summarily may temporarily suspend such proposed rule change
if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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 Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml) or
Send an email to rule-comments@sec.gov. Please include
File Number SR-ICEEU-2015-014 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-ICEEU-2015-014. 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 (https://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 Europe
and on ICE Clear Europe's Web site at https://www.theice.com/clear-europe/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-
ICEEU-2015-014 and should be submitted on or before September 4, 2015.
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-20008 Filed 8-13-15; 8:45 am]
BILLING CODE 8011-01-P
