Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the ICC Clearing Rules, 19664-19666 [2021-07599]
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19664
Federal Register / Vol. 86, No. 70 / Wednesday, April 14, 2021 / Notices
notice of filing and immediate
effectiveness for a proposed rule change
relating to the proposed listing on a
national securities exchange of other
issues of Active Proxy Portfolio Shares,
and that the Funds will operate in a
manner similar to such funds.35 For
these reasons, the Commission believes
that waiver of the 30-day operative
delay is consistent with the protection
of investors and the public interest.
Accordingly, the Commission waives
the 30-day operative delay and
designates the proposed rule change
operative upon filing.36
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.
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–
NYSEArca–2021–23 on the subject line.
Paper Comments
jbell on DSKJLSW7X2PROD with NOTICES
• 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–NYSEArca–2021–23. 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 website (https://www.sec.gov/
35 See Securities Exchange Act Release No. 90530
(November 30, 2020), 85 FR 78366 (December 4,
2020) (SR–CboeBZX–2020–085) (Notice of Filing
and Immediate Effectiveness of a Proposed Rule
Change Relating to List and Trade Shares of the
Fidelity Growth Opportunities ETF, Fidelity
Magellan ETF, Fidelity Real Estate Investment ETF,
and Fidelity Small-Mid Cap Opportunities ETF
Under Rule 14.11(m) (Tracking Fund Shares))
36 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
VerDate Sep<11>2014
17:22 Apr 13, 2021
Jkt 253001
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 website 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. Persons submitting
comments are cautioned that we do not
redact or edit personal identifying
information from comment submissions.
You should submit only information
that you wish to make available
publicly. All submissions should refer
to File Number SR–NYSEArca–2021–23
and should be submitted on or before
May 5, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.37
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–07597 Filed 4–13–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91516; File No. SR–ICC–
2021–010)]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the ICC
Clearing Rules
April 8, 2021.
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 April 2,
2021, ICE Clear Credit LLC (‘‘ICC’’) filed
with the Securities and Exchange
Commission the proposed rule change
as described in Items I, II and III below,
which Items have been prepared
primarily by ICC. ICC filed the proposed
rule change pursuant to Section
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
19(b)(3)(A) of the Act 3 and Rule 19b–
4(f)(3) thereunder,4 such that the
proposed rule change was immediately
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 principal purpose of the
proposed rule change is to revise the
ICC Clearing Rules (the ‘‘Rules’’) with
respect to the description of ICE US
Holding Company L.P.
II. Clearing Agency’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, security-based swap
submission, or advance notice and
discussed any comments it received on
the proposed rule change, securitybased swap submission, or advance
notice. 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) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
(a) Purpose
ICC proposes minor revisions to the
Rules to update the description of ICE
US Holding Company L.P. (the
‘‘Partnership’’). ICC is wholly owned by
the Partnership. Specifically, ICC
proposes to amend ICC Rule 503(a)(iii)
in connection with a change in the
jurisdiction of legal organization of the
Partnership from the Cayman Islands to
Delaware (the ‘‘Domestication’’). Under
ICC Rule 503(a)(iii), the Partnership
appoints three members of the ICC Risk
Committee, consisting of an
independent ICC Board member and
two ICC officers. In referencing the
Partnership, ICC Rule 503(a)(iii)
describes the Partnership as a ‘‘Cayman
Islands exempted limited partnership.’’
In light of the Domestication, ICC
proposes to describe the Partnership as
a ‘‘Delaware limited partnership.’’ Such
amendment would not otherwise
change the substance of ICC Rule
503(a)(iii) nor would it affect the rights,
functions, or obligations of the
Partnership in relation to ICC. ICC has
37 17
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U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
14APN1
Federal Register / Vol. 86, No. 70 / Wednesday, April 14, 2021 / Notices
jbell on DSKJLSW7X2PROD with NOTICES
filed the proposed rule change for
immediate effectiveness and proposes to
make such changes effective, subject to
any regulatory review or approval
process.
(b) Statutory Basis
ICC believes that the proposed rule
change is consistent with the
requirements of Section 17A of the Act 5
and the regulations thereunder
applicable to it, including the applicable
standards under Rule 17Ad–22.6 In
particular, Section 17A(b)(3)(F) of the
Act 7 requires that the rule change be
consistent with the prompt and accurate
clearance and settlement of securities
transactions and derivative agreements,
contracts and transactions cleared by
ICC, the safeguarding of securities and
funds in the custody or control of ICC
or for which it is responsible, and the
protection of investors and the public
interest. ICC proposes minor revisions
to the Rules to update the description of
the Partnership to a ‘‘Delaware limited
partnership’’ given the Domestication.
Such amendment would not otherwise
change the substance of ICC Rule
503(a)(iii) nor would it affect the rights,
functions, or obligations of the
Partnership in relation to ICC. The
proposed rule change would ensure that
the ICC Rules remain up-to-date and
transparent to promote ICC’s ability to
continue to maintain clear and
comprehensive rules and procedures
that provide sufficient information to
market participants. The proposed rule
change is therefore consistent with the
prompt and accurate clearing and
settlement of the contracts cleared by
ICC, the safeguarding of securities and
funds in the custody or control of ICC
or for which it is responsible, and the
protection of investors and the public
interest, within the meaning of Section
17A(b)(3)(F) of the Act.8
In addition, the proposed rule change
is consistent with the relevant
requirements of Rule 17Ad–22.9 Rule
17Ad–22(e)(1) 10 requires each covered
clearing agency to establish, implement,
maintain, and enforce written policies
and procedures reasonably designed to
provide for a well-founded, clear,
transparent, and enforceable legal basis
for each aspect of its activities in all
relevant jurisdictions. As discussed
above, the proposed revisions update
the jurisdiction of legal organization of
the Partnership in Rule 503(a)(iii) in
5 15
U.S.C. 78q–1.
CFR 240.17Ad–22.
7 15 U.S.C. 78q–1(b)(3)(F).
8 Id.
9 17 CFR 240.17Ad–22.
10 17 CFR 240.17Ad–22(e)(1).
6 17
VerDate Sep<11>2014
17:22 Apr 13, 2021
light of the Domestication. Such
amendment ensures that the ICC Rules
continue to be up-to-date, clear, and
transparent and does not otherwise
change the substance of ICC Rule
503(a)(iii) nor affect the rights,
functions, or obligations of the
Partnership in relation to ICC. The ICC
Rules would thus continue to provide
for a well-founded, clear, transparent,
and enforceable legal basis for ICC’s
activities, consistent with the
requirements of the Rule 17Ad–
22(e)(1).11
Rule 17Ad–22(e)(2)(i) and (v) 12
requires each covered clearing agency to
establish, implement, maintain, and
enforce written policies and procedures
reasonably designed to provide for
governance arrangements that are clear
and transparent and specify clear and
direct lines of responsibility. The
proposed rule change will not impact
the substance of Rule 503(a)(iii), under
which the Partnership will continue to
appoint three members of the ICC Risk
Committee, consisting of an
independent ICC Board member and
two ICC officers. ICC’s governance
arrangements continue to be clear and
transparent, such that information
relating to the assignment of
responsibilities and the requisite
involvement of relevant stakeholders is
clearly detailed in the ICC Rules and
policies and procedures, consistent with
the requirements of Rule 17Ad–
22(e)(2)(i) and (v).13
(B) Clearing Agency’s Statement on
Burden on Competition
ICC does not believe the proposed
rule change would have any impact, or
impose any burden, on competition.
The proposed changes to the ICC Rules
will apply uniformly across all market
participants. Therefore, ICC does not
believe the proposed rule change
imposes any burden on competition that
is inappropriate in furtherance of the
purposes of the Act.
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change Received From Members,
Participants or Others
Written comments relating to the
proposed rule change have not been
solicited or received. ICC will notify the
Commission of any written comments
received by ICC.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 14 and paragraph (f) of Rule
19b–4 15 thereunder. 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:
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–
ICC–2021–010 on the subject line.
Paper Comments
Send paper comments in triplicate to
Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549.
All submissions should refer to File
Number SR–ICC–2021–010. 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 website (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 website 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
11 Id.
12 17
CFR 240.17Ad–22(e)(2)(i) and (v).
13 Id.
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19665
E:\FR\FM\14APN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
14APN1
19666
Federal Register / Vol. 86, No. 70 / Wednesday, April 14, 2021 / Notices
inspection and copying at the principal
office of ICE Clear Credit and on ICE
Clear Credit’s website at https://
www.theice.com/clear-credit/regulation.
All comments received will be posted
without change. Persons submitting
comments are cautioned that we do not
redact or edit personal identifying
information from comment submissions.
You should submit only information
that you wish to make available
publicly. All submissions should refer
to File Number SR–ICC–2021–010 and
should be submitted on or before May
5, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–07599 Filed 4–13–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91518; File No. SR–MIAX–
2021–08]
Self-Regulatory Organizations; Miami
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend Exchange Rule
404A, Select Provisions of Options
Listing Procedures Plan
April 8, 2021.
jbell on DSKJLSW7X2PROD with NOTICES
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 March 26,
2021, Miami International Securities
Exchange, LLC (‘‘MIAX Options’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. 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 is filing a proposal to
amend Exchange Rule 404A, Select
Provisions of Options Listing
Procedures Plan.
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxoptions.com/rulefilings/ at MIAX Options’ principal
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
office, and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement on 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
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Exchange Rule 404A, Select Provisions
of Options Listing Procedures Plan, to
make a minor non-substantive change to
update a Uniform Resource Locator
(‘‘URL’’) to point to the complete copy
of the current Options Listings
Procedures Plan (‘‘OLPP’’) on the
Options Clearing Corporation (‘‘OCC’’)
website.
Currently, Exchange Rule 404A
provides that, the provisions set forth in
this Rule 404A were adopted by the
Exchange as a quote mitigation strategy
and are codified in the Options Listing
Procedures Plan (‘‘OLPP’’). The current
rule provides an invalid link to the
OLPP, stating that, A complete copy of
the current OLPP may be accessed at:
https://www.optionsclearing.com/
components/docs/clearing/services/
options_listing_procedures_plan.pdf.
The Exchange notes that the current
copy of the OLPP is no longer located
at this URL and instead may be found
at https://www.theocc.com/Clearanceand-Settlement/Industry-Services.
Therefore, the Exchange proposes to
remove the old invalid URL and replace
it with the current valid URL.
2. Statutory Basis
The Exchange believes that its
proposed rule change is consistent with
Section 6(b) of the Act 3 in general, and
furthers the objectives of Section 6(b)(5)
of the Act 4 in particular, in that it is
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
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities, to
remove impediments to and perfect the
mechanisms of a free and open market
and a national market system and, in
general, to protect investors and the
public interest.
The proposed rule change will
promote just and equitable principles of
trade, foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with to, and facilitating
transaction in securities. Further, the
proposed rule change promotes the
protection of investors and the public
interest by providing an accurate URL to
where the public and investors may find
the current and complete copy of the
OLPP. It is in the public and investors
interest for Exchange rules to be
accurate and concise so as to avoid the
potential for confusion.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange believes the proposed rule
change will not impose any burden on
intra-market competition as every
Member of the Exchange benefits from
the location of the OLPP being corrected
in the Exchange’s rulebook.
Additionally, the proposed rule change
is similar to the rules of other
exchanges.5
The Exchange does not believe that
the proposed rule change will impose
any burden on inter-market competition
as the proposed change is not a
competitive filing and is being made
solely to correct an inaccurate URL.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days after the date of
the filing, or such shorter time as the
16 17
1 15
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U.S.C. 78f(b).
U.S.C. 78f(b)(5).
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5 See Nasdaq ISE Options 4, Section 6; and Cboe
Exchange Rule 4.7(a).
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]]>Agencies
[Federal Register Volume 86, Number 70 (Wednesday, April 14, 2021)]
[Notices]
[Pages 19664-19666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07599]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-91516; File No. SR-ICC-2021-010)]
Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
the ICC Clearing Rules
April 8, 2021.
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 April 2, 2021, ICE Clear Credit LLC (``ICC'') filed with the
Securities and Exchange Commission the proposed rule change as
described in Items I, II and III below, which Items have been prepared
primarily by ICC. ICC filed the proposed rule change pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(3) thereunder,\4\
such that the proposed rule change was immediately 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).
\4\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The principal purpose of the proposed rule change is to revise the
ICC Clearing Rules (the ``Rules'') with respect to the description of
ICE US Holding Company L.P.
II. Clearing Agency'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,
security-based swap submission, or advance notice and discussed any
comments it received on the proposed rule change, security-based swap
submission, or advance notice. 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) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
(a) Purpose
ICC proposes minor revisions to the Rules to update the description
of ICE US Holding Company L.P. (the ``Partnership''). ICC is wholly
owned by the Partnership. Specifically, ICC proposes to amend ICC Rule
503(a)(iii) in connection with a change in the jurisdiction of legal
organization of the Partnership from the Cayman Islands to Delaware
(the ``Domestication''). Under ICC Rule 503(a)(iii), the Partnership
appoints three members of the ICC Risk Committee, consisting of an
independent ICC Board member and two ICC officers. In referencing the
Partnership, ICC Rule 503(a)(iii) describes the Partnership as a
``Cayman Islands exempted limited partnership.'' In light of the
Domestication, ICC proposes to describe the Partnership as a ``Delaware
limited partnership.'' Such amendment would not otherwise change the
substance of ICC Rule 503(a)(iii) nor would it affect the rights,
functions, or obligations of the Partnership in relation to ICC. ICC
has
[[Page 19665]]
filed the proposed rule change for immediate effectiveness and proposes
to make such changes effective, subject to any regulatory review or
approval process.
(b) Statutory Basis
ICC believes that the proposed rule change is consistent with the
requirements of Section 17A of the Act \5\ and the regulations
thereunder applicable to it, including the applicable standards under
Rule 17Ad-22.\6\ In particular, Section 17A(b)(3)(F) of the Act \7\
requires that the rule change be consistent with the prompt and
accurate clearance and settlement of securities transactions and
derivative agreements, contracts and transactions cleared by ICC, the
safeguarding of securities and funds in the custody or control of ICC
or for which it is responsible, and the protection of investors and the
public interest. ICC proposes minor revisions to the Rules to update
the description of the Partnership to a ``Delaware limited
partnership'' given the Domestication. Such amendment would not
otherwise change the substance of ICC Rule 503(a)(iii) nor would it
affect the rights, functions, or obligations of the Partnership in
relation to ICC. The proposed rule change would ensure that the ICC
Rules remain up-to-date and transparent to promote ICC's ability to
continue to maintain clear and comprehensive rules and procedures that
provide sufficient information to market participants. The proposed
rule change is therefore consistent with the prompt and accurate
clearing and settlement of the contracts cleared by ICC, the
safeguarding of securities and funds in the custody or control of ICC
or for which it is responsible, and the protection of investors and the
public interest, within the meaning of Section 17A(b)(3)(F) of the
Act.\8\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78q-1.
\6\ 17 CFR 240.17Ad-22.
\7\ 15 U.S.C. 78q-1(b)(3)(F).
\8\ Id.
---------------------------------------------------------------------------
In addition, the proposed rule change is consistent with the
relevant requirements of Rule 17Ad-22.\9\ Rule 17Ad-22(e)(1) \10\
requires each covered clearing agency to establish, implement,
maintain, and enforce written policies and procedures reasonably
designed to provide for a well-founded, clear, transparent, and
enforceable legal basis for each aspect of its activities in all
relevant jurisdictions. As discussed above, the proposed revisions
update the jurisdiction of legal organization of the Partnership in
Rule 503(a)(iii) in light of the Domestication. Such amendment ensures
that the ICC Rules continue to be up-to-date, clear, and transparent
and does not otherwise change the substance of ICC Rule 503(a)(iii) nor
affect the rights, functions, or obligations of the Partnership in
relation to ICC. The ICC Rules would thus continue to provide for a
well-founded, clear, transparent, and enforceable legal basis for ICC's
activities, consistent with the requirements of the Rule 17Ad-
22(e)(1).\11\
---------------------------------------------------------------------------
\9\ 17 CFR 240.17Ad-22.
\10\ 17 CFR 240.17Ad-22(e)(1).
\11\ Id.
---------------------------------------------------------------------------
Rule 17Ad-22(e)(2)(i) and (v) \12\ requires each covered clearing
agency to establish, implement, maintain, and enforce written policies
and procedures reasonably designed to provide for governance
arrangements that are clear and transparent and specify clear and
direct lines of responsibility. The proposed rule change will not
impact the substance of Rule 503(a)(iii), under which the Partnership
will continue to appoint three members of the ICC Risk Committee,
consisting of an independent ICC Board member and two ICC officers.
ICC's governance arrangements continue to be clear and transparent,
such that information relating to the assignment of responsibilities
and the requisite involvement of relevant stakeholders is clearly
detailed in the ICC Rules and policies and procedures, consistent with
the requirements of Rule 17Ad-22(e)(2)(i) and (v).\13\
---------------------------------------------------------------------------
\12\ 17 CFR 240.17Ad-22(e)(2)(i) and (v).
\13\ Id.
---------------------------------------------------------------------------
(B) Clearing Agency's Statement on Burden on Competition
ICC does not believe the proposed rule change would have any
impact, or impose any burden, on competition. The proposed changes to
the ICC Rules will apply uniformly across all market participants.
Therefore, ICC does not believe the proposed rule change imposes any
burden on competition that is inappropriate in furtherance of the
purposes of the Act.
(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants or Others
Written comments relating to the proposed rule change have not been
solicited or received. ICC will notify the Commission of any written
comments received by ICC.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \14\ and paragraph (f) of Rule 19b-4 \15\
thereunder. 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.
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\14\ 15 U.S.C. 78s(b)(3)(A).
\15\ 17 CFR 240.19b-4(f)(3).
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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 [email protected]. Please include
File Number SR-ICC-2021-010 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities and
Exchange Commission, 100 F Street NE, Washington, DC 20549.
All submissions should refer to File Number SR-ICC-2021-010. 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 website (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 website 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
[[Page 19666]]
inspection and copying at the principal office of ICE Clear Credit and
on ICE Clear Credit's website at https://www.theice.com/clear-credit/regulation.
All comments received will be posted without change. Persons
submitting comments are cautioned that we do not redact or edit
personal identifying information from comment submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-ICC-2021-010 and should be
submitted on or before May 5, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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\16\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-07599 Filed 4-13-21; 8:45 am]
BILLING CODE 8011-01-P
