Submission for OMB Review; Comment Request, 44356-44357 [2016-16039]
Download as PDF
44356
Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices
change as operative upon filing with the
Commission.29
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) of the Act 30 to
determine whether the proposed rule
change should be approved or
disapproved.
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:
srobinson on DSK5SPTVN1PROD with NOTICES
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–
BatsEDGX–2016–28 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 BatsEDGX–2016–28. 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.,
29 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
30 15 U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
17:23 Jul 06, 2016
Jkt 238001
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–2016–28, and should be
submitted on or before July 28, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.31
Brent J. Fields,
Secretary.
[FR Doc. 2016–16111 Filed 7–6–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Rule 302; SEC File No. 270–453, OMB
Control No. 3235–0510.
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 302 (17 CFR 242.302) of Regulation
ATS (17 CFR 242.300 et seq.) under the
Securities and Exchange Act of 1934
(‘‘Act’’) (15 U.S.C. 78a et seq.).
Regulation ATS sets forth a regulatory
regime for ‘‘alternative trading systems’’
(‘‘ATSs’’), which are entities that carry
out exchange functions but which are
not required to register as national
securities exchanges under the Act. In
lieu of exchange registration, an ATS
can instead opt to register with the
Commission as a broker-dealer and, as
a condition to not having to register as
an exchange, must instead comply with
Regulation ATS. Rule 302 of Regulation
ATS (17 CFR 242.302) describes the
recordkeeping requirements for ATSs.
Under Rule 302, ATSs are required to
make a record of subscribers to the ATS,
PO 00000
31 17
CFR 200.30–3(a)(12).
Frm 00099
Fmt 4703
Sfmt 4703
daily summaries of trading in the ATS,
and time-sequenced records of order
information in the ATS.
The information required to be
collected under Rule 302 should
increase the abilities of the Commission,
state securities regulatory authorities,
and the self-regulatory organizations
(‘‘SROs’’) to ensure that ATSs are in
compliance with Regulation ATS as
well as other applicable rules and
regulations. If the information is not
collected or collected less frequently,
the regulators would be limited in their
ability to comply with their statutory
obligations, provide for the protection of
investors, and promote the maintenance
of fair and orderly markets.
Respondents consist of ATSs that
choose to register as broker-dealers and
comply with the requirements of
Regulation ATS. There are currently 84
respondents. These respondents will
spend approximately 3,780 hours per
year (84 respondents at 45 burden
hours/respondent) to comply with the
recordkeeping requirements of Rule 302.
At an average cost per burden hour of
$65, the resultant total related internal
cost of compliance for these
respondents is $245,700 per year
(3,780burden hours multiplied by $65/
hour).
Compliance with Rule 302 is
mandatory. The information required by
Rule 302 is available only for the
examination of the Commission staff,
state securities authorities, and the
SROs. Subject to the provisions of the
Freedom of Information Act, 5 U.S.C.
522 (‘‘FOIA’’), and the Commission’s
rules thereunder (17 CFR
200.80(b)(4)(iii)), the Commission does
not generally publish or make available
information contained in any reports,
summaries, analyses, letters, or
memoranda arising out of, in
anticipation of, or in connection with an
examination or inspection of the books
and records of any person or any other
investigation.
ATSs are required to preserve, for at
least three years, any records made in
the process of complying with the
requirements set out in Rule 302.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following Web site:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
E:\FR\FM\07JYN1.SGM
07JYN1
Federal Register / Vol. 81, No. 130 / Thursday, July 7, 2016 / Notices
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
100 F Street NE., Washington, DC
20549, or by sending an email to:
PRA_Mailbox@sec.gov. Comments
must be submitted to OMB within 30
days of this notice.
Dated: June 30, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–16039 Filed 7–6–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78205; File No. SR–ICC–
2016–009]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Notice of Filing of
Proposed Rule Change To Revise the
ICC Treasury Operations Policies and
Procedures
June 30, 2016.
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 June 15,
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.
srobinson on DSK5SPTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The purpose of proposed rule change
is to revise the ICC Treasury Operations
Policies and Procedures to provide for
the use of a committed foreign exchange
(‘‘FX’’) facility, to make changes to the
investment guidelines as well as
additional clean-up changes, and to
provide additional clarification
regarding the calculation of collateral
haircuts. These revisions do not require
any changes to the ICC Clearing Rules.
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
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
17:23 Jul 06, 2016
Jkt 238001
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 changes to the ICC
Treasury Operations Policies and
Procedures to provide for the use of a
committed FX facility, to make changes
to the investment guidelines as well as
additional clean-up changes, and to
provide additional clarification
regarding the calculation of collateral
haircuts. ICC believes such revisions
will facilitate the prompt and accurate
clearance and settlement of securities
transactions and derivative agreements,
contracts, and transactions for which it
is responsible. The proposed revisions
are described in detail as follows.
ICC has revised its Treasury
Operations Policies and Procedures to
provide for the use of a committed FX
facility. ICC has established a
committed FX facility which provides
for same day settled spot FX
transactions. The facility allows ICC to
use available United States Dollars
(‘‘USD’’) to convert into Euro to meet a
Euro liquidity need, for example in the
unlikely event of a Clearing Participant
default when Euro is needed for
liquidity but only USD is available. In
addition, the policy has been revised to
document that the FX facility will be
tested twice a year.
Additionally, ICC has revised its
Treasury Operations Policies and
Procedures to make changes to the ICC
Treasury Department investment
guidelines for operating capital and
guaranty fund and margin cash. ICC has
updated the list of permitted
investments to add short term US
Treasury securities (with a final
maturity of no greater than 98 days) and
remove Money Market Mutual Funds.
ICC has also updated its investment
policy for operating capital to include
Treasury/agency reverse repurchase
(‘‘repo’’) agreements. ICC has updated
the governance section of the operating
capital investment policy to note that
the Risk Committee will review any
proposed changes to the policy and
make recommendations to the Board.
Further, ICC has removed reference to
an obsolete financial report.
ICC also has made additional clean-up
changes throughout the Treasury
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
44357
Operations Policies and Procedures.
Specifically, ICC has removed outdated
language stating that ICC treasury
services are provided by The Clearing
Corporation. Further, throughout the
document, ICC changed references to
the ‘‘Director of Operations’’ to the
‘‘Chief Operating Officer,’’ to correctly
reflect the officer title. ICC removed
reference to specific reverse repo
counterparties to reflect the addition of
multiple reverse repo counterparties.
Further, ICC notes that it has
arrangements in place to settle tri-party
and bilateral reverse repo transactions,
both of which settle delivery vs.
payment (‘‘DVP’’). As a result, ICC has
clarified references throughout the
policy from ‘‘DVP reverse repo’’ to more
specifically refer to ‘‘bilateral reverse
repo.’’ ICC removed reference to the
titles of specific agreements that it may
enter to effect reverse repo transactions
and added general language to
encompass all agreements that may be
required. ICC removed information
regarding the monitoring of available
liquidity resources and added reference
to the ICC Liquidity Risk Management
Framework. ICC clarified that its
committed repo facility may be used to
convert sovereign debt into cash and
that the facility will be tested twice per
calendar year. ICC removed outdated
information under the ‘‘ICE Clear Credit
Banking Relationships’’ section of the
policy and added language stating that
ICC endeavors to maintain banking
relationships with highly creditworthy
and reliable bank institutions that
provide operational and strategic
support with respect to holding margin
and Guaranty Fund cash and collateral.
ICC also removed references to specific
banking counterparties, as ICC’s banking
relationships have expanded to include
multiple counterparties. ICC replaced
the specific names with a generic
reference, to capture all counterparties
utilized by ICC. ICC also updated
certain SWIFT banking information
throughout the policy. Further, ICC
updated the list of applications used by
the Treasury Department to perform
daily operations.
Finally, ICC revised its Treasury
Operations Policies and Procedures to
provide additional clarification
regarding the calculation of collateral
haircuts when yield rates are less than
or equal to one basis point. This change
documents current ICC practices as
related to collateral haircut calculation;
there is no change to the collateral
haircut methodology.
E:\FR\FM\07JYN1.SGM
07JYN1
Agencies
[Federal Register Volume 81, Number 130 (Thursday, July 7, 2016)]
[Notices]
[Pages 44356-44357]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-16039]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736.
Extension:
Rule 302; SEC File No. 270-453, OMB Control No. 3235-0510.
Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and
Exchange Commission (``Commission'') has submitted to the Office of
Management and Budget (``OMB'') a request for approval of extension of
the previously approved collection of information provided for in Rule
302 (17 CFR 242.302) of Regulation ATS (17 CFR 242.300 et seq.) under
the Securities and Exchange Act of 1934 (``Act'') (15 U.S.C. 78a et
seq.).
Regulation ATS sets forth a regulatory regime for ``alternative
trading systems'' (``ATSs''), which are entities that carry out
exchange functions but which are not required to register as national
securities exchanges under the Act. In lieu of exchange registration,
an ATS can instead opt to register with the Commission as a broker-
dealer and, as a condition to not having to register as an exchange,
must instead comply with Regulation ATS. Rule 302 of Regulation ATS (17
CFR 242.302) describes the recordkeeping requirements for ATSs. Under
Rule 302, ATSs are required to make a record of subscribers to the ATS,
daily summaries of trading in the ATS, and time-sequenced records of
order information in the ATS.
The information required to be collected under Rule 302 should
increase the abilities of the Commission, state securities regulatory
authorities, and the self-regulatory organizations (``SROs'') to ensure
that ATSs are in compliance with Regulation ATS as well as other
applicable rules and regulations. If the information is not collected
or collected less frequently, the regulators would be limited in their
ability to comply with their statutory obligations, provide for the
protection of investors, and promote the maintenance of fair and
orderly markets.
Respondents consist of ATSs that choose to register as broker-
dealers and comply with the requirements of Regulation ATS. There are
currently 84 respondents. These respondents will spend approximately
3,780 hours per year (84 respondents at 45 burden hours/respondent) to
comply with the recordkeeping requirements of Rule 302. At an average
cost per burden hour of $65, the resultant total related internal cost
of compliance for these respondents is $245,700 per year (3,780burden
hours multiplied by $65/hour).
Compliance with Rule 302 is mandatory. The information required by
Rule 302 is available only for the examination of the Commission staff,
state securities authorities, and the SROs. Subject to the provisions
of the Freedom of Information Act, 5 U.S.C. 522 (``FOIA''), and the
Commission's rules thereunder (17 CFR 200.80(b)(4)(iii)), the
Commission does not generally publish or make available information
contained in any reports, summaries, analyses, letters, or memoranda
arising out of, in anticipation of, or in connection with an
examination or inspection of the books and records of any person or any
other investigation.
ATSs are required to preserve, for at least three years, any
records made in the process of complying with the requirements set out
in Rule 302.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information under the PRA unless it
displays a currently valid OMB control number.
The public may view background documentation for this information
collection at the following Web site: www.reginfo.gov. Comments should
be directed to: (i) Desk Officer for the Securities and Exchange
Commission, Office of Information and Regulatory Affairs, Office of
Management and Budget, Room 10102, New Executive
[[Page 44357]]
Office Building, Washington, DC 20503, or by sending an email to:
Shagufta_Ahmed@omb.eop.gov; and (ii) Pamela Dyson, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549, or by sending an
email to:
PRA_Mailbox@sec.gov. Comments must be submitted to OMB within 30
days of this notice.
Dated: June 30, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-16039 Filed 7-6-16; 8:45 am]
BILLING CODE 8011-01-P