Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Expand the Listing Schedule for the Urea (Granular) FOB US Gulf Coast Swaps (Clearing Only) Contract, 51343-51345 [2015-20789]
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Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices
by the venue to which the PO+ Order is
routed and the fees charged by the
Exchange for such orders. Further, the
proposed change is equitable and not
unfairly discriminatory because the
rebate would apply uniformly across
pricing tiers and all similarly situated
ETP Holders would be subject to the
same credit.
Finally, the Exchange believes that it
is subject to significant competitive
forces, as described below in the
Exchange’s statement regarding the
burden on competition. For these
reasons, the Exchange believes that the
proposal is consistent with the Act.
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such 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. If the
Commission takes such action, the
Commission shall institute proceedings
under section 19(b)(2)(B)12 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
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:
In accordance with section 6(b)(8) of
the Act,8 the Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. In particular,
the routing credits would not place a
burden on competition because the
Exchange is maintaining the existing
relationship between the rebate
provided by the Exchange for PO+
Order that are routed to the NYSE that
provide liquidity on the NYSE and the
rebate the NYSE provides to its
members that provide liquidity.9
The Exchange notes that it operates in
a highly competitive market in which
market participants can readily favor
competing venues. In such an
environment, the Exchange must
continually review, and consider
adjusting, its fees and credits to remain
competitive with other exchanges. For
the reasons described above, the
Exchange believes that this proposal
promotes a competitive environment.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
tkelley on DSK3SPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective
upon filing pursuant to section
19(b)(3)(A) 10 of the Act and
subparagraph (f)(2) of Rule 19b–4 11
thereunder, because it establishes a due,
8 15
U.S.C. 78f(b)(8).
9 See supra note 5.
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
VerDate Sep<11>2014
16:48 Aug 21, 2015
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–
NYSEARCA–2015–70 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSEARCA–2015–70. 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
12 15
Jkt 235001
PO 00000
U.S.C. 78s(b)(2)(B).
Frm 00148
Fmt 4703
Sfmt 4703
51343
10:00 a.m. and 3:00 p.m. Copies of the
filing will also be available for
inspection and copying at the NYSE’s
principal office and on its Internet Web
site at www.nyse.com. 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–
NYSEARCA–2015–70 and should be
submitted on or before September 14,
2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–20791 Filed 8–21–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75724; File No. SR–CME–
2015–015]
Self-Regulatory Organizations;
Chicago Mercantile Exchange Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change To Expand the Listing
Schedule for the Urea (Granular) FOB
US Gulf Coast Swaps (Clearing Only)
Contract
August 18, 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
10, 2015, Chicago Mercantile Exchange
Inc. (‘‘CME’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change described in Items I, II and III
below, which Items have been prepared
primarily by CME. CME filed the
proposal pursuant to Section 19(b)(3)(A)
of the Act,3 and Rule 19b–4(f)(4)(ii)
thereunder,4 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.
13 17
CFR 200.30–3(a)(12).
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)(4)(ii).
1 15
E:\FR\FM\24AUN1.SGM
24AUN1
51344
Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CME is proposing to expand the
listing schedule for the Urea (Granular)
FOB US Gulf Coast Swaps (Clearing
Only) contract listed on The Board of
Trade of the City of Chicago, Inc.
(‘‘CBOT’’) designated contract market,
which is available for submission for
clearing via CME ClearPort. More
specifically, the CME ClearPort listing
schedule as of August 17, 2015 will be
amended from 12 consecutive calendar
months to 24 consecutive calendar
Product title
DCM:
CBOT
Rulebook
chapter
Urea (Granular) FOB US Gulf Swaps (Clearing Only)
45
*
*
*
*
*
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CME included statements concerning
the purpose 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. CME has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of such statements.
UFN
Urea (Granular) FOB US Gulf Swaps (Clearing Only)
45
*
*
*
*
The proposed rule changes that are
described in this filing are limited to
CME’s business as a derivatives clearing
organization clearing products under
the exclusive jurisdiction of the CFTC.
CME has not cleared security based
swaps and does not plan to and
therefore the proposed rule changes do
not impact CME’s security-based swap
clearing business in any way. The
proposed changes would become
effective immediately. CME notes that it
has also submitted the proposed rule
changes that are the subject of this filing
to its primary regulator, the CFTC, in
CME Submission Number 15–290.
CME believes the proposed rule
changes are consistent with the
requirements of the Exchange Act
including Section 17A.5 The proposed
rules expand the listing schedule for the
Urea (Granular) FOB US Gulf Coast
5 15
U.S.C. 78q–1.
VerDate Sep<11>2014
18:43 Aug 21, 2015
Clearing
code
UFN
PO 00000
U.S.C. 78q–1(b)(3)(F).
Frm 00149
Fmt 4703
Sfmt 4703
CME ClearPort listing
schedule as of August 17,
2015
24 consecutive calendar
months.
submission for clearing via CME
ClearPort. More specifically, the CME
ClearPort listing schedule as of August
17, 2015 will be amended from 12
consecutive calendar months to 24
consecutive calendar months. CME has
determined that the amended listing
schedule is more conducive to the needs
of market participants.
*
*
*
*
*
A summary of the amendments to the
Urea (Granular) FOB US Gulf Coast
Swaps (Clearing Only) contract’s listing
schedule is set forth in the following
table:
Current CME ClearPort
listing schedule
12 consecutive calendar
months.
Swaps (Clearing Only) contract, which
is available for submission for clearing
via CME ClearPort, from 12 consecutive
calendar months to 24 consecutive
calendar months in response to the
needs of market participants. These rule
changes are therefore designed to
promote the prompt and accurate
clearance and settlement of securities
transactions and, to the extent
applicable, derivatives agreements,
contracts, and transactions, to assure the
safeguarding of securities and funds
which are in the custody or control of
the clearing agency or for which it is
responsible, and, in general, to protect
investors and the public interest
consistent with Section 17A(b)(3)(F) of
the Exchange Act.6
Furthermore, the proposed changes
are limited to CME’s futures and swaps
clearing businesses, which mean they
are limited in their effect to products
6 15
Jkt 235001
[12 consecutive calendar
months].
CME is registered as a derivatives
clearing organization with the
Commodity Futures Trading
Commission (‘‘CFTC’’) and operates a
substantial business clearing futures and
swaps contracts subject to the
jurisdiction of the CFTC. CME is
proposing to expand the listing
schedule for the Urea (Granular) FOB
US Gulf Coast Swaps (Clearing Only)
contract listed on the CBOT designated
contract market, which is available for
DCM:
CBOT
Rulebook
chapter
*
Current CME ClearPort
listing schedule
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Product title
tkelley on DSK3SPTVN1PROD with NOTICES
Clearing
code
months. CME has determined that the
amended listing schedule is more
conducive to the needs of market
participants. The text of the proposed
rule change is below. Italicized text
indicates additions; bracketed text
indicates deletions.
*
*
*
*
*
CME ClearPort listing
schedule as of
August 17, 2015
24 consecutive calendar
months
that are under the exclusive jurisdiction
of the CFTC. As such, the proposed
CME changes are limited to CME’s
activities as a DCO clearing futures that
are not security futures and swaps that
are not security-based swaps. CME notes
that the policies of the CFTC with
respect to administering the Commodity
Exchange Act are comparable to a
number of the policies underlying the
Exchange Act, such as promoting
market transparency for over-thecounter derivatives markets, promoting
the prompt and accurate clearance of
transactions and protecting investors
and the public interest.
Because the proposed changes are
limited in their effect to CME’s futures
and swaps clearing businesses, the
proposed changes are properly
classified as effecting a change in an
existing service of CME that:
(a) Primarily affects the clearing
operations of CME with respect to
products that are not securities,
E:\FR\FM\24AUN1.SGM
24AUN1
Federal Register / Vol. 80, No. 163 / Monday, August 24, 2015 / Notices
including futures that are not security
futures, swaps that are not securitybased swaps or mixed swaps; and
forwards that are not security forwards;
and
(b) does not significantly affect any
securities clearing operations of CME or
any rights or obligations of CME with
respect to securities clearing or persons
using such securities-clearing service.
As such, the changes are therefore
consistent with the requirements of
Section 17A of the Exchange Act 7 and
are properly filed under Section
19(b)(3)(A) 8 and Rule 19b–4(f)(4)(ii) 9
thereunder.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CME does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition. The proposed changes
involve expanding the listing schedule
for the Urea (Granular) FOB US Gulf
Coast Swaps (Clearing Only) contract
listed on the CBOT designated contract
market, which is available for
submission for clearing via CME
ClearPort. More specifically, the CME
ClearPort listing schedule as of August
17, 2015 will be amended from 12
consecutive calendar months to 24
consecutive calendar months. CME has
determined that the amended listing
schedule is more conducive to the needs
of market participants.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
CME has not solicited, and does not
intend to solicit, comments regarding
this proposed rule change. CME has not
received any unsolicited written
comments from interested parties.
tkelley on DSK3SPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the
Exchange Act 10 and Rule 19b–4(f)(4)(ii)
thereunder,11 CME has designated that
this proposal constitutes a change in an
existing service of CME that (a)
primarily affects the clearing operations
of CME with respect to products that are
not securities, including futures that are
not security futures, and swaps that are
not security-based swaps or mixed
swaps, and forwards that are not
security forwards; and (b) does not
7 15
U.S.C. 78q–1.
U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f)(4)(ii).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(4)(ii).
8 15
VerDate Sep<11>2014
16:48 Aug 21, 2015
Jkt 235001
significantly affect any securities
clearing operations of CME or any rights
or obligations of CME with respect to
securities clearing or persons using such
securities-clearing service, which
renders the proposed change effective
upon filing.
CME believes that the proposal does
not significantly affect any securities
clearing operations of CME because
CME recently filed a proposed rule
change that clarified that CME has
decided not to clear security-based
swaps, except in a very limited set of
circumstances.12 The rule filing
reflecting CME’s decision not to clear
security-based swaps removed any
ambiguity concerning CME’s ability or
intent to perform the functions of a
clearing agency with respect to securitybased swaps. Therefore, this proposal
will have no effect on any securities
clearing operations of CME.
At any time within 60 days of the
filing of the proposed change, the
Commission summarily may
temporarily suspend such 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 Exchange 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 No. SR–
CME–2015–015 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–CME–2015–015. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
12 See Securities Exchange Act Release No. 73615
(Nov. 17, 2014), 79 FR 69545 (Nov. 21, 2014) (SR–
CME–2014–49). The only exception is with regards
to Restructuring European Single Name CDS
Contracts created following the occurrence of a
Restructuring Credit Event in respect of an iTraxx
Component Transaction. The clearing of
Restructuring European Single Name CDS Contracts
will be a necessary byproduct after such time that
CME begins clearing iTraxx Europe index CDS.
PO 00000
Frm 00150
Fmt 4703
Sfmt 4703
51345
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
filing also will be available for
inspection and copying at the principal
office of CME and on CME’s Web site at
https://www.cmegroup.com/marketregulation/rule-filings.html.
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–CME–2015–015 and should
be submitted on or before September 14,
2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–20789 Filed 8–21–15; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF TRANSPORTATION
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Agency Information Collection
Activities: Requests for Comments;
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Information Collection: Recording of
Aircraft Conveyances and Security
Documents
Federal Aviation
Administration (FAA), DOT.
ACTION: Notice and request for
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AGENCY:
In accordance with the
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SUMMARY:
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E:\FR\FM\24AUN1.SGM
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24AUN1
]]>Agencies
[Federal Register Volume 80, Number 163 (Monday, August 24, 2015)]
[Notices]
[Pages 51343-51345]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-20789]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75724; File No. SR-CME-2015-015]
Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Expand the Listing Schedule for the Urea (Granular) FOB US Gulf Coast
Swaps (Clearing Only) Contract
August 18, 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 10, 2015, Chicago Mercantile Exchange Inc. (``CME'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change described in Items I, II and III below, which
Items have been prepared primarily by CME. CME filed the proposal
pursuant to Section 19(b)(3)(A) of the Act,\3\ and Rule 19b-4(f)(4)(ii)
thereunder,\4\ 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)(4)(ii).
---------------------------------------------------------------------------
[[Page 51344]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CME is proposing to expand the listing schedule for the Urea
(Granular) FOB US Gulf Coast Swaps (Clearing Only) contract listed on
The Board of Trade of the City of Chicago, Inc. (``CBOT'') designated
contract market, which is available for submission for clearing via CME
ClearPort. More specifically, the CME ClearPort listing schedule as of
August 17, 2015 will be amended from 12 consecutive calendar months to
24 consecutive calendar months. CME has determined that the amended
listing schedule is more conducive to the needs of market participants.
The text of the proposed rule change is below. Italicized text
indicates additions; bracketed text indicates deletions.
* * * * *
----------------------------------------------------------------------------------------------------------------
DCM: CBOT Current CME CME ClearPort
Product title Rulebook Clearing code ClearPort listing listing schedule as
chapter schedule of August 17, 2015
----------------------------------------------------------------------------------------------------------------
Urea (Granular) FOB US Gulf Swaps 45 UFN [12 consecutive 24 consecutive
(Clearing Only). calendar months]. calendar months.
----------------------------------------------------------------------------------------------------------------
* * * * *
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CME included statements
concerning the purpose 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. CME 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
CME is registered as a derivatives clearing organization with the
Commodity Futures Trading Commission (``CFTC'') and operates a
substantial business clearing futures and swaps contracts subject to
the jurisdiction of the CFTC. CME is proposing to expand the listing
schedule for the Urea (Granular) FOB US Gulf Coast Swaps (Clearing
Only) contract listed on the CBOT designated contract market, which is
available for submission for clearing via CME ClearPort. More
specifically, the CME ClearPort listing schedule as of August 17, 2015
will be amended from 12 consecutive calendar months to 24 consecutive
calendar months. CME has determined that the amended listing schedule
is more conducive to the needs of market participants.
* * * * *
A summary of the amendments to the Urea (Granular) FOB US Gulf
Coast Swaps (Clearing Only) contract's listing schedule is set forth in
the following table:
----------------------------------------------------------------------------------------------------------------
DCM: CBOT Current CME CME ClearPort
Product title Rulebook Clearing code ClearPort listing listing schedule as
chapter schedule of August 17, 2015
----------------------------------------------------------------------------------------------------------------
Urea (Granular) FOB US Gulf Swaps 45 UFN 12 consecutive 24 consecutive
(Clearing Only). calendar months. calendar months
----------------------------------------------------------------------------------------------------------------
* * * * *
The proposed rule changes that are described in this filing are
limited to CME's business as a derivatives clearing organization
clearing products under the exclusive jurisdiction of the CFTC. CME has
not cleared security based swaps and does not plan to and therefore the
proposed rule changes do not impact CME's security-based swap clearing
business in any way. The proposed changes would become effective
immediately. CME notes that it has also submitted the proposed rule
changes that are the subject of this filing to its primary regulator,
the CFTC, in CME Submission Number 15-290.
CME believes the proposed rule changes are consistent with the
requirements of the Exchange Act including Section 17A.\5\ The proposed
rules expand the listing schedule for the Urea (Granular) FOB US Gulf
Coast Swaps (Clearing Only) contract, which is available for submission
for clearing via CME ClearPort, from 12 consecutive calendar months to
24 consecutive calendar months in response to the needs of market
participants. These rule changes are therefore designed to promote the
prompt and accurate clearance and settlement of securities transactions
and, to the extent applicable, derivatives agreements, contracts, and
transactions, to assure the safeguarding of securities and funds which
are in the custody or control of the clearing agency or for which it is
responsible, and, in general, to protect investors and the public
interest consistent with Section 17A(b)(3)(F) of the Exchange Act.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78q-1.
\6\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
Furthermore, the proposed changes are limited to CME's futures and
swaps clearing businesses, which mean they are limited in their effect
to products that are under the exclusive jurisdiction of the CFTC. As
such, the proposed CME changes are limited to CME's activities as a DCO
clearing futures that are not security futures and swaps that are not
security-based swaps. CME notes that the policies of the CFTC with
respect to administering the Commodity Exchange Act are comparable to a
number of the policies underlying the Exchange Act, such as promoting
market transparency for over-the-counter derivatives markets, promoting
the prompt and accurate clearance of transactions and protecting
investors and the public interest.
Because the proposed changes are limited in their effect to CME's
futures and swaps clearing businesses, the proposed changes are
properly classified as effecting a change in an existing service of CME
that:
(a) Primarily affects the clearing operations of CME with respect
to products that are not securities,
[[Page 51345]]
including futures that are not security futures, swaps that are not
security-based swaps or mixed swaps; and forwards that are not security
forwards; and
(b) does not significantly affect any securities clearing
operations of CME or any rights or obligations of CME with respect to
securities clearing or persons using such securities-clearing service.
As such, the changes are therefore consistent with the requirements
of Section 17A of the Exchange Act \7\ and are properly filed under
Section 19(b)(3)(A) \8\ and Rule 19b-4(f)(4)(ii) \9\ thereunder.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78q-1.
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(4)(ii).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CME does not believe that the proposed rule change will have any
impact, or impose any burden, on competition. The proposed changes
involve expanding the listing schedule for the Urea (Granular) FOB US
Gulf Coast Swaps (Clearing Only) contract listed on the CBOT designated
contract market, which is available for submission for clearing via CME
ClearPort. More specifically, the CME ClearPort listing schedule as of
August 17, 2015 will be amended from 12 consecutive calendar months to
24 consecutive calendar months. CME has determined that the amended
listing schedule is more conducive to the needs of market participants.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
CME has not solicited, and does not intend to solicit, comments
regarding this proposed rule change. CME has not received any
unsolicited written comments from interested parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the Exchange Act \10\ and Rule
19b-4(f)(4)(ii) thereunder,\11\ CME has designated that this proposal
constitutes a change in an existing service of CME that (a) primarily
affects the clearing operations of CME with respect to products that
are not securities, including futures that are not security futures,
and swaps that are not security-based swaps or mixed swaps, and
forwards that are not security forwards; and (b) does not significantly
affect any securities clearing operations of CME or any rights or
obligations of CME with respect to securities clearing or persons using
such securities-clearing service, which renders the proposed change
effective upon filing.
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\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(4)(ii).
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CME believes that the proposal does not significantly affect any
securities clearing operations of CME because CME recently filed a
proposed rule change that clarified that CME has decided not to clear
security-based swaps, except in a very limited set of
circumstances.\12\ The rule filing reflecting CME's decision not to
clear security-based swaps removed any ambiguity concerning CME's
ability or intent to perform the functions of a clearing agency with
respect to security-based swaps. Therefore, this proposal will have no
effect on any securities clearing operations of CME.
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\12\ See Securities Exchange Act Release No. 73615 (Nov. 17,
2014), 79 FR 69545 (Nov. 21, 2014) (SR-CME-2014-49). The only
exception is with regards to Restructuring European Single Name CDS
Contracts created following the occurrence of a Restructuring Credit
Event in respect of an iTraxx Component Transaction. The clearing of
Restructuring European Single Name CDS Contracts will be a necessary
byproduct after such time that CME begins clearing iTraxx Europe
index CDS.
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At any time within 60 days of the filing of the proposed change,
the Commission summarily may temporarily suspend such 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 Exchange 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 No. SR-CME-2015-015 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-CME-2015-015. 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 filing also will be available
for inspection and copying at the principal office of CME and on CME's
Web site at https://www.cmegroup.com/market-regulation/rule-filings.html.
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-CME-2015-015 and
should be submitted on or before September 14, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-20789 Filed 8-21-15; 8:45 am]
BILLING CODE 8011-01-P
