Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Withdrawal of Proposed Rule Change Relating to Recovery and Resolution Arrangements, 28680 [2013-11517]

Download as PDF 28680 Federal Register / Vol. 78, No. 94 / Wednesday, May 15, 2013 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69545; File No. SR–ICC– 2013–03] Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Withdrawal of Proposed Rule Change Relating to Recovery and Resolution Arrangements May 9, 2013. On March 7, 2013, ICE Clear Credit LLC (‘‘ICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 1 and Rule 19b–4 thereunder,2 a proposed rule change relating to clearinghouse resolution and recovery arrangements. Notice of the proposed rule change was published in the Federal Register on March 27, 2013.3 The Commission did not receive comments on the proposed rule change. On May 7, 2013, ICC withdrew the proposed rule change (SR–ICC–2013– 03). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.4 Kevin M. O’Neill, Deputy Secretary . [FR Doc. 2013–11517 Filed 5–14–13; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–69544; File No. SR–ICEEU– 2013–07] Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Delivery Procedures To Reflect the Clearing Relationship for ICE Futures Europe TKELLEY on DSK3SPTVN1PROD with NOTICES May 9, 2013. 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 April 24, 2013, 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 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 69201 (Mar. 21, 2013), 78 FR 18646 (Mar. 27, 2013). 4 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 2 17 VerDate Mar<15>2010 17:16 May 14, 2013 Jkt 229001 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. Self-Regulatory Organization’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 Europe. The rule amendments consist of various conforming and technical changes to the Delivery Procedures to reflect new futures contracts to be listed on ICE Futures Europe. All capitalized terms not defined herein are defined in the ICE Clear Europe Delivery Procedures. 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 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 these statements.5 A. Self-Regulatory Organization’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 Europe, 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 addition of new futures products. Specifically, Sections A, C, and D of the ICE Clear Europe Delivery Procedures has been updated to account for new futures products, among other revisions. Among other things, Section A of the Delivery Procedures relating to emissions contracts has been amended to reflect changes to EU legislation, the use of a single EU registry, and certain new emissions contracts previously launched by ICE Futures Europe. The definition of the term ‘‘Delivery Month’’ in Section C has been revised to account of each individual product. ICE Clear Europe made the emissions and auction changes effective on December 5, 2012. The electricity and natural gas contract changes were to be made effective on April 29, 2013. 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 B. Self-Regulatory Organization’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. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments relating to the proposed change were solicited, but no comments were 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 effects a change in an existing service of a registered clearing agency that primarily affects the futures clearing operations of the clearing agency with respect to futures that are not security futures and does not significantly affect any securities clearing operations of the clearing agency or any related rights or obligations of the clearing agency or 3 15 6 15 4 17 7 Id. 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. PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 8 15 9 17 U.S.C. 78q–1(b)(3)(F). U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(4)(ii). E:\FR\FM\15MYN1.SGM 15MYN1

Agencies

[Federal Register Volume 78, Number 94 (Wednesday, May 15, 2013)]
[Notices]
[Page 28680]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-11517]



[[Page 28680]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69545; File No. SR-ICC-2013-03]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Withdrawal of Proposed Rule Change Relating to Recovery and Resolution 
Arrangements

May 9, 2013.
    On March 7, 2013, ICE Clear Credit LLC (``ICC'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 \1\ and Rule 
19b-4 thereunder,\2\ a proposed rule change relating to clearinghouse 
resolution and recovery arrangements. Notice of the proposed rule 
change was published in the Federal Register on March 27, 2013.\3\ The 
Commission did not receive comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 69201 (Mar. 21, 2013), 
78 FR 18646 (Mar. 27, 2013).
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    On May 7, 2013, ICC withdrew the proposed rule change (SR-ICC-2013-
03).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\4\
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    \4\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary .
[FR Doc. 2013-11517 Filed 5-14-13; 8:45 am]
BILLING CODE 8011-01-P
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