Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Additions to Permitted Cover, 23531 [2016-09206]

Download as PDF Federal Register / Vol. 81, No. 77 / Thursday, April 21, 2016 / Notices 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 the filing also will be available for inspection and copying at the principal office of the Exchange. 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– BatsEDGX–2016–09 and should be submitted on or before May 12, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.19 Brent J. Fields, Secretary. [FR Doc. 2016–09203 Filed 4–20–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77634; File No. SR–ICEEU– 2016–004] Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change Relating to Additions to Permitted Cover jstallworth on DSK7TPTVN1PROD with NOTICES April 15, 2016. On February 10, 2016, ICE Clear Europe Limited (‘‘ICE Clear Europe’’) 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 proposed rule changes to provide additional categories of securities, including treasury bills and floating and inflation-linked government bonds (the ‘‘Additional Permitted Cover’’) to ICE Clear Europe to satisfy certain margin requirements. The proposed rule change was published for comment in the Federal 19 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 13:27 Apr 20, 2016 Jkt 238001 Register on March 2, 2016.3 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 April 16, 2016. The Commission is extending the 45day time period for Commission action on the proposed rule change. 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 May 31, 2016, 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–2016–004). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Brent J. Fields, Secretary. [FR Doc. 2016–09206 Filed 4–20–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77633; File No. SR–ICC– 2016–005] Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change To Update and Formalize the ICC Stress Testing Framework April 15, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b-4 thereunder 2 3 Securities Exchange Act Release No. 34–77234 (Feb. 25, 2015), 81 FR 10949 (Mar. 2, 2016) (SR– ICEEU–2016–004). 4 15 U.S.C. 78s(b)(2). 5 15 U.S.C. 78s(b)(2). 6 17 CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 23531 notice is hereby given that on March 31, 2016, ICE Clear Credit LLC (‘‘ICC’’) 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 ICC. 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 proposed rule change is to update and formalize ICC’s Stress Testing Framework. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ICC 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. ICC has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of these statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change ICC proposes to update and formalize its Stress Testing Framework. The Stress Testing Framework sets forth stress testing practices instituted by ICC, which are focused on ensuring the adequacy of systemic risk protections. The framework is designed to: Articulate the types of stress tests executed and the main purpose of each type of test; describe how stress tests are conducted; define the actual test scenarios currently executed; outline the range of remedial actions available (which, depending on the results, may include enhancements to the risk methodology or certain Clearing Participant (‘‘CP’’) specific action); and explain how stress test results are used in the governance process. ICC continues to evolve its stress testing practices for many reasons, including an increase in the number and type of instruments eligible for clearing, and evolution of the CDS market and the cleared portfolios themselves. The stress testing framework helps ICC identify potential weaknesses in the risk management methodology currently used. As such, the framework allows E:\FR\FM\21APN1.SGM 21APN1

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[Federal Register Volume 81, Number 77 (Thursday, April 21, 2016)]
[Notices]
[Page 23531]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09206]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77634; File No. SR-ICEEU-2016-004]


Self-Regulatory Organizations; ICE Clear Europe Limited; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change Relating to Additions to Permitted Cover

April 15, 2016.
    On February 10, 2016, ICE Clear Europe Limited (``ICE Clear 
Europe'') 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\ 
proposed rule changes to provide additional categories of securities, 
including treasury bills and floating and inflation-linked government 
bonds (the ``Additional Permitted Cover'') to ICE Clear Europe to 
satisfy certain margin requirements. The proposed rule change was 
published for comment in the Federal Register on March 2, 2016.\3\ To 
date, the Commission has not received comments on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-77234 (Feb. 25, 
2015), 81 FR 10949 (Mar. 2, 2016) (SR-ICEEU-2016-004).
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    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 April 16, 2016. The Commission is extending the 45-day time 
period for Commission action on the proposed rule change. 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.
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    \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 May 31, 2016, 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-2016-004).
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    \5\ 15 U.S.C. 78s(b)(2).
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Brent J. Fields,
Secretary.
[FR Doc. 2016-09206 Filed 4-20-16; 8:45 am]
 BILLING CODE 8011-01-P
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