Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Finance Procedures To Add Clearstream Banking as a Triparty Collateral Service Provider, 38488-38489 [2015-16410]

Download as PDF 38488 Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices Lhorne on DSK7TPTVN1PROD with NOTICES and a national market system, and, in general, to protect investors and the public interest. The Commission believes that the proposal to permit an ATP holder approved as a registered Market Maker pursuant to Exchange Rule 921NY to register for and withdraw from options appointments, subject to the proposed conditions and in accordance with the other provisions of Rule 923NY, is reasonably designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Exchange states that the proposed changes regarding how Market Makers select and modify their appointments would provide Market Makers with more efficient access to the securities in which they want to make markets, enabling them to quickly begin disseminating competitive quotations in those securities which would provide additional liquidity and enhanced competition in those securities on the Exchange.41 The Exchange notes that the proposed rule change would enable Market Makers to manage their appointments with more flexibility and in a timelier manner, but that Market Makers still will be required to comply with certain obligations to maintain their status as a Market Maker, including that they provide continuous, two-sided quotations in their appointed securities.42 The Exchange also believes that preventing Market Makers from being able to withdraw an option issue from its appointment on the same day that it submits the request (as such requests, if properly made and received, are processed on an overnight basis for effectiveness the following business day) will serve to promote just and 41 See Notice, supra note 3, at 18887. In addition, the Exchange notes that other options exchanges permit market makers to select their appointments in a similar manner via exchange-approved electronic interfaces. See Notice, supra note 3, at 18886, n.31(citing, BATS Exchange, Inc. Rule 22.3(b) (‘‘An Options Market Maker may become registered in a series by entering a registration request via an Exchange approved electronic interface with the Exchange’s systems by 9:00 a.m. Eastern time. Registration shall become effective on the day the registration request is entered’’); and NASDAQ Options Market Chapter VII, Section 3(b) (‘‘An Options Market Maker may become registered in an option by entering a registration request via a Nasdaq approved electronic interface with Nasdaq’s systems. Registration shall become effective on the day the registration request is entered.’’). 42 See Notice, supra note 3, at 18888. VerDate Sep<11>2014 14:37 Jul 02, 2015 Jkt 235001 equitable principles of trade and benefit investors and the public interest.43 Further, before any changes to a Market Maker’s appointment become effective, the Exchange will be required to confirm that the Market Maker’s appointment will not exceed the number of ATPs a Market Maker is required to have and will also be required to confirm receipt of the Market Maker’s request.44 The Commission notes that the Exchange has proposed to add a Market Maker’s available financial resources and operational capability as factors the Exchange may consider during its periodic evaluation of a Market Maker’s performance, stating that these factors are important considerations in evaluating a Market Maker’s performance, and that continued consideration of these factors would remove impediments to and perfect the mechanism of a free and open market and would benefit investors and the public interest.45 The Commission further notes that the Exchange will continue to have authority to suspend or terminate any appointment of a Market Maker in one or more option issues whenever, in the Exchange’s judgment, the interests of a fair and orderly market are best served by such action.46 The Exchange will also retain the ability to restrict a Market Maker’s registration in option issues for up to six months if a Market Maker’s appointment in that option issue or issues has been terminated under the rule, and Rule 923NY will continue to give the Exchange discretion to allow the Market Maker to resume that appointment earlier than the prescribed six-month period or to maintain the suspension for the entire period. Finally, the Exchange is not proposing changes to the disciplinary and appeals process for Market Makers that do not meet minimum performance standards.47 Based on the foregoing, the Commission finds the proposed rule change is consistent with the Act. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,48 that the Notice, supra note 3, at 18887. text accompany notes 29–30 supra. 45 See Notice, supra note 3, at 18887. 46 See Rule 923NY(g). See also Notice, supra 3, at 18888, n.43 and Rule 921NY (regarding the Exchange’s ability to suspend or terminate a Market Maker’s registration based on ‘‘a determination of any substantial or continued failure by such Market Maker to engage in dealings in accordance with Rules 925NY or 923NY,’’ which outline the obligations of Market Makers). 47 See Notice, supra note 3, at 18887. 48 15 U.S.C. 78s(b)(2). PO 00000 43 See 44 See Frm 00062 Fmt 4703 Sfmt 4703 proposed rule change (SR–NYSEMKT– 2015–17) be, and hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.49 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–16412 Filed 7–2–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75320; File No. SR–ICEEU– 2015–009] Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Finance Procedures To Add Clearstream Banking as a Triparty Collateral Service Provider June 29, 2015. On May 5, 2015, ICE Clear Europe Limited (‘‘ICEEU’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to modify the Finance Procedures to allow Clearstream Banking to serve as a triparty collateral service provider for initial or original margin provided in respect of all product categories, including CDS Contracts. The proposed rule change was published for comment in the Federal Register on May 15, 2015.3 To date, the Commission has not received comments on the proposal. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day from the publication of notice of filing of this proposed rule change is June 29, 2015. The Commission is extending this 4549 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 Securities Exchange Act Release No. 34–74922 (May 11, 2015), 80 FR 28035 (May 15, 2015) (File No. SR–ICEEU–2015–009). 4 15 U.S.C. 78s(b)(2). 1 15 E:\FR\FM\06JYN1.SGM 06JYN1 Federal Register / Vol. 80, No. 128 / Monday, July 6, 2015 / Notices day time period. In order to provide the Commission with sufficient time to consider the proposed rule change, the Commission finds it is appropriate to designate a longer period within which to take action on the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates August 13, 2015, as the date by which the Commission should either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–ICEEU–2015–009). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–16410 Filed 7–2–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940 Lhorne on DSK7TPTVN1PROD with NOTICES June 26, 2015. The following is a notice of applications for deregistration under section 8(f) of the Investment Company Act of 1940 for the month of June 2015. A copy of each application may be obtained via the Commission’s Web site by searching for the file number, or for an applicant using the Company name box, at https://www.sec.gov/search/ search.htm or by calling (202) 551– 8090. An order granting each application will be issued unless the SEC orders a hearing. Interested persons may request a hearing on any application by writing to the SEC’s Secretary at the address below and serving the relevant applicant with a copy of the request, personally or by mail. Hearing requests should be received by the SEC by 5:30 p.m. on July 21, 2015, and should be accompanied by proof of service on applicants, in the form of an affidavit or, for lawyers, a certificate of service. Pursuant to Rule 0–5 under the Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by writing to the Commission’s Secretary. 6 17 U.S.C. 78s(b)(2). CFR 200.30–3(a)(31). VerDate Sep<11>2014 14:37 Jul 02, 2015 Jkt 235001 FOR FURTHER INFORMATION CONTACT: Diane L. Titus at (202) 551–6810, SEC, Division of Investment Management, Chief Counsel’s Office, 100 F Street NE., Washington, DC 20549–8010. First Trust Floating Rate High Income Fund [File No. 811–22510] Summary: Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. Applicant has never made a public offering of its securities and does not propose to make a public offering or engage in business of any kind. Filing Date: The application was filed on June 17, 2015. Applicant’s Address: 120 East Liberty Drive, Suite 400, Wheaton, IL 60187. BlackRock Pennsylvania Strategic Municipal Trust [File No. 811–9417] [Release No. IC–31698] 5 15 The Commission: Brent J. Fields, Secretary, U.S. Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. ADDRESSES: Summary: Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. Applicant transferred its assets to BlackRock MuniYield Pennsylvania Quality Fund, and effective April 13, 2015, made distributions to its shareholders based on net asset value. Expenses of approximately $297,589 incurred in connection with the reorganization were paid by applicant. Filing Date: The application was filed on June 11, 2015. Applicant’s Address: 100 Bellevue Parkway, Wilmington, DE 19809. Campbell Multi-Strategy Trust [File No. 811–21803] Summary: Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. On June 23, 2015, applicant made a final liquidating distribution to its shareholders, based on net asset value. Applicant has retained approximately $2,416,000 in cash and cash equivalent reserves to cover potential outstanding liabilities in the amount of $2,416,421. Any reserves not required to pay such liabilities will be distributed to shareholders. Expenses of approximately $76,289 incurred in connection with the liquidation were paid by shareholders. Filing Date: The application was filed on June 24, 2015. Applicant’s Address: 2850 Quarry Lake Dr., Baltimore, MD 21209. PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 38489 For the Commission, by the Division of Investment Management, pursuant to delegated authority. Robert W. Errett, Deputy Secretary. [FR Doc. 2015–16409 Filed 7–2–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–75321; File No. SR–CBOE– 2015–059] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Fees Schedule June 29, 2015. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on June 15, 2015, Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘CBOE’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. 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 Exchange proposes to amend its Fees Schedule. The text of the proposed rule change is available on the Exchange’s Web site (https:// www.cboe.com/AboutCBOE/ CBOELegalRegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange 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. The Exchange has prepared summaries, set forth in sections A, B, and C below, of 1 15 2 17 E:\FR\FM\06JYN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 06JYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 128 (Monday, July 6, 2015)]
[Notices]
[Pages 38488-38489]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-16410]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75320; File No. SR-ICEEU-2015-009]


Self-Regulatory Organizations; ICE Clear Europe Limited; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change Relating to Finance Procedures To Add Clearstream Banking as a 
Triparty Collateral Service Provider

June 29, 2015.
    On May 5, 2015, ICE Clear Europe Limited (``ICEEU'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to modify the 
Finance Procedures to allow Clearstream Banking to serve as a triparty 
collateral service provider for initial or original margin provided in 
respect of all product categories, including CDS Contracts. The 
proposed rule change was published for comment in the Federal Register 
on May 15, 2015.\3\ To date, the Commission has not received comments 
on the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-74922 (May 11, 2015), 
80 FR 28035 (May 15, 2015) (File No. SR-ICEEU-2015-009).
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day from the publication of notice of filing of this proposed rule 
change is June 29, 2015. The Commission is extending this 45-

[[Page 38489]]

day time period. In order to provide the Commission with sufficient 
time to consider the proposed rule change, the Commission finds it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
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    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates August 13, 2015, as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
ICEEU-2015-009).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-16410 Filed 7-2-15; 8:45 am]
 BILLING CODE 8011-01-P

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