Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Delivery Procedures To Reflect the Clearing Relationship for ICE Futures U.S. Inc., 76315-76316 [2012-31130]
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Federal Register / Vol. 77, No. 248 / Thursday, December 27, 2012 / Notices
(B) Clearing Agency’s Statement on
Burden on Competition
The proposed rule change does not
impose any burden on competition.
(C) Clearing Agency’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
The foregoing rule change has been
filed pursuant to Section 19(b)(3)(A)(ii) 5
of the Act and paragraph (f)(2) of Rule
19b–4 6 thereunder and became effective
on filing. At any time within 60 days of
the filing of the 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.
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:
tkelley on DSK3SPTVN1PROD with
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–
CME–2012–46 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CME–2012–46. 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 CME and on CME’s Web site
(https://www.cmegroup.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–CME–2012–46 and should
be submitted on or before January 17,
2013.
Section 19(b)(3)(A)(iii) 3 of the Act, and
Rule 19b–4(f)(4)(ii) 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.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Kevin M. O’Neill,
Deputy Secretary.
In its filing with the Commission, ICE
Clear Europe included statements
concerning the purpose of 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. ICE
Clear Europe has prepared summaries,
set forth in sections (A), (B) and (C)
below, of the most significant aspects of
such statements.5
[FR Doc. 2012–31122 Filed 12–26–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68503; File No. SR–ICEEU–
2012–15]
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change to Delivery
Procedures To Reflect the Clearing
Relationship for ICE Futures U.S. Inc.
December 20, 2012.
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 December
19, 2012, ICE Clear Europe Limited
(‘‘ICE Clear Europe’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
primarily by ICE Clear Europe. ICE Clear
Europe filed the proposal pursuant to
6 17
VerDate Mar<15>2010
16:53 Dec 26, 2012
Jkt 229001
The principal purpose of the rule
amendments is to permit ICE Clear
Europe to act as the clearing
organization for certain futures and
options contracts listed on ICE Futures
U.S. Inc. (‘‘ICE Futures US’’), a
designated contract market with the
Commodity Futures Trading
Commission. The rule amendments
consist of various conforming and
technical changes to existing ICE Clear
Europe rules and delivery procedures to
reflect the clearing relationship for ICE
Futures US. All capitalized terms not
defined herein are defined in the ICE
Clear Europe Delivery Procedures.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
ICE Clear Europe will act as the
clearing organization for certain futures
and options contracts listed on ICE
Futures US, a designated contract
market with the Commodity Futures
Trading Commission. The rule
amendments consist of various
conforming and technical changes to
existing ICE Clear Europe delivery
procedures to reflect the clearing
relationship for ICE Futures US.
Specifically, Section H of the ICE
Clear Europe Delivery Procedures has
been updated to apply to all ICE Futures
US Contracts for which physical
delivery is specified as being
‘Applicable’ in the relevant Contract
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(4)(ii).
5 The Commission has modified the text of the
summaries prepared by ICE Clear Europe.
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
3 15
7 17
5 15
76315
PO 00000
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4 17
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E:\FR\FM\27DEN1.SGM
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Federal Register / Vol. 77, No. 248 / Thursday, December 27, 2012 / Notices
Terms and which go to physical
delivery on the expiry date.
Section 17A(b)(3)(F) of the Act 6
requires, among other things, that the
rules of a clearing agency be designed to
promote the prompt and accurate
clearance and settlement of securities
transactions and, to the extent
applicable, derivative agreements,
contracts, and transactions. ICE Clear
Europe believes that the proposed rule
changes are consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
ICE Clear Europe, in particular, with
Section 17A(b)(3)(F),7 because they
protect investors and the public interest.
(B) Clearing Agency’s Statement on
Burden on Competition
ICE Clear Europe does not believe the
proposed change would have any
impact, or impose any burden, on
competition.
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change Received From Members,
Participants or Others
Written comments relating to the
proposed 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 rule change has become
effective upon filing pursuant to Section
19(b)(3)(A)(iii) 8 of the Act and Rule
19b–4(f)(4)(ii) 9 thereunder because it
primarily affects the futures clearing
operations of the clearing agency with
respect to futures that are not security
futures, and does not significantly affect
the securities clearing operations of the
clearing agency or any related rights or
obligations of the clearing agency or
persons using such service. At any time
within 60 days of the filing of the
proposed procedure changes, 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.10
tkelley on DSK3SPTVN1PROD with
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
6 15
U.S.C. 78q–1(b)(3)(F).
U.S.C. 78q–1(b)(3)(F).
8 15 U.S.C. 78s(b)(3)(A)(iii).
9 17 CFR 240.19b–4(f)(4)(ii).
10 15 U.S.C. 78s(b)(3)(C).
7 15
VerDate Mar<15>2010
16:53 Dec 26, 2012
Jkt 229001
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–31130 Filed 12–26–12; 8:45 am]
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml) or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–ICEEU–2012–15 on the
subject line.
BILLING CODE 8011–01–P
Paper Comments
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Extend the
Position Allocation Methodology to
Margin Calculations for Two Additional
OTC Spread Swap Futures Contracts
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–ICEEU–2012–15. 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 ICE Clear Europe and on ICE Clear
Europe’s Web site (https://
www.theice.com/publicdocs/
regulatory_filings/
ICEU_SEC_121912_2012-15.pdf).
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–2012–15 and
should be submitted on or before
January 17, 2013.
PO 00000
Frm 00029
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68494; File No. SR–ICEEU–
2012–17]
December 20, 2012.
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 December
19, 2012, ICE Clear Europe Limited
(‘‘ICE Clear Europe’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described Items I, II and III
below, which Items have been prepared
primarily by ICE Clear Europe. ICE Clear
Europe filed the proposal pursuant to
Section 19(b)(3)(A)(iii) 3 of the Act, and
Rule 19b–4(f)(4)(ii) 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.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
The purpose of the change is to
extend the Position Allocation
Methodology to margin calculations for
two additional OTC spread swap futures
contracts. Position Allocation
Methodology is an enhancement to the
SPAN for the ICE Margining algorithm
employed to calculate Original Margin.
All capitalized terms not defined herein
are defined in the ICE Clear Europe
Rules.
II. Clearing Agency’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
11 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)(iii).
4 17 CFR 240.19b–4(f)(4)(ii).
1 15
E:\FR\FM\27DEN1.SGM
27DEN1
Agencies
[Federal Register Volume 77, Number 248 (Thursday, December 27, 2012)]
[Notices]
[Pages 76315-76316]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-31130]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68503; File No. SR-ICEEU-2012-15]
Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change to
Delivery Procedures To Reflect the Clearing Relationship for ICE
Futures U.S. Inc.
December 20, 2012.
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 December 19, 2012, ICE Clear Europe Limited (``ICE Clear Europe'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I, II and III below, which
Items have been prepared primarily by ICE Clear Europe. ICE Clear
Europe filed the proposal pursuant to Section 19(b)(3)(A)(iii) \3\ of
the Act, and Rule 19b-4(f)(4)(ii) \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)(iii).
\4\ 17 CFR 240.19b-4(f)(4)(ii).
---------------------------------------------------------------------------
I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The principal purpose of the rule amendments is to permit ICE Clear
Europe to act as the clearing organization for certain futures and
options contracts listed on ICE Futures U.S. Inc. (``ICE Futures US''),
a designated contract market with the Commodity Futures Trading
Commission. The rule amendments consist of various conforming and
technical changes to existing ICE Clear Europe rules and delivery
procedures to reflect the clearing relationship for ICE Futures US. All
capitalized terms not defined herein are defined in the ICE Clear
Europe Delivery Procedures.
II. Clearing Agency'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 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. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B) and (C) below, of the most significant
aspects of such statements.\5\
---------------------------------------------------------------------------
\5\ The Commission has modified the text of the summaries
prepared by ICE Clear Europe.
---------------------------------------------------------------------------
(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
ICE Clear Europe will act as the clearing organization for certain
futures and options contracts listed on ICE Futures US, a designated
contract market with the Commodity Futures Trading Commission. The rule
amendments consist of various conforming and technical changes to
existing ICE Clear Europe delivery procedures to reflect the clearing
relationship for ICE Futures US.
Specifically, Section H of the ICE Clear Europe Delivery Procedures
has been updated to apply to all ICE Futures US Contracts for which
physical delivery is specified as being `Applicable' in the relevant
Contract
[[Page 76316]]
Terms and which go to physical delivery on the expiry date.
Section 17A(b)(3)(F) of the Act \6\ requires, among other things,
that the rules of a clearing agency be designed to promote the prompt
and accurate clearance and settlement of securities transactions and,
to the extent applicable, derivative agreements, contracts, and
transactions. ICE Clear Europe believes that the proposed rule changes
are consistent with the requirements of the Act and the rules and
regulations thereunder applicable to ICE Clear Europe, in particular,
with Section 17A(b)(3)(F),\7\ because they protect investors and the
public interest.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78q-1(b)(3)(F).
\7\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
(B) Clearing Agency's Statement on Burden on Competition
ICE Clear Europe does not believe the proposed change would have
any impact, or impose any burden, on competition.
(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others
Written comments relating to the proposed 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 rule change has become effective upon filing pursuant
to Section 19(b)(3)(A)(iii) \8\ of the Act and Rule 19b-4(f)(4)(ii) \9\
thereunder because it primarily affects the futures clearing operations
of the clearing agency with respect to futures that are not security
futures, and does not significantly affect the securities clearing
operations of the clearing agency or any related rights or obligations
of the clearing agency or persons using such service. At any time
within 60 days of the filing of the proposed procedure changes, 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.\10\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(4)(ii).
\10\ 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
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-2012-15 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-ICEEU-2012-15. 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 ICE Clear Europe and
on ICE Clear Europe's Web site (https://www.theice.com/publicdocs/regulatory_filings/ICEU_SEC_121912_2012-15.pdf).
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-2012-15
and should be submitted on or before January 17, 2013.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-31130 Filed 12-26-12; 8:45 am]
BILLING CODE 8011-01-P