Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Introduce a New Data Product To Be Known as the Short Volume Report, Modify the Name of Rule 13.8 to “Data Products”, and Add a Preamble to Rule 13.8, 4069 [2022-01469]

Download as PDF Federal Register / Vol. 87, No. 17 / Wednesday, January 26, 2022 / Notices 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 LCH SA and on LCH SA’s website at: https://www.lch.com/ resources/rulebooks/proposed-rulechanges. 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–LCH SA–2022–001 and should be submitted on or before February 16, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2022–01461 Filed 1–25–22; 8:45 am] BILLING CODE 8011–01–P For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Assistant Secretary. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–94008; File No. SR– CboeEDGX–2021–049] [FR Doc. 2022–01469 Filed 1–25–22; 8:45 am] Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Introduce a New Data Product To Be Known as the Short Volume Report, Modify the Name of Rule 13.8 to ‘‘Data Products’’, and Add a Preamble to Rule 13.8 khammond on DSKJM1Z7X2PROD with NOTICES January 20, 2022. On November 17, 2021, Cboe EDGX Exchange, Inc. (‘‘Exchange’’) 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 adopt Exchange Rule 13.8(h) to introduce a new data product to be known as the Short Volume Report, modify the name of Rule 13.8 to ‘‘Data Products’’, and add a preamble to Rule 13.8. The proposed rule change was 15 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 17:34 Jan 25, 2022 Jkt 256001 published in the Federal Register on December 7, 2021.3 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 will 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 after publication of the notice for this proposed rule change is January 21, 2022. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates March 7, 2022 as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–CboeEDGX–2021–049). BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–94014; File No. SR–ICC– 2021–023] Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the ICC Clearing Rules and ICC Exercise Procedures January 20, 2021. I. Introduction On November 19, 2021, 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 (the ‘‘Act’’),1 and Rule 19b–4,2 a proposed rule change to revise Rule 26R–319 of the ICC Clearing Rules (‘‘Rules’’) and the ICC Exercise Procedures (‘‘Exercise Procedures’’) 3 in connection with the clearing of credit default index options (‘‘Index Swaptions’’). The proposed rule change was published for comment in the Federal Register on December 7, 2021.4 The Commission did not receive comments regarding the proposed rule change. For the reasons discussed below, the Commission is approving the proposed rule change. II. Description of the Proposed Rule Change A. Background Pursuant to an Index Swaption, one party (the ‘‘Swaption Buyer’’) has the right (but not the obligation) to cause the other party (the ‘‘Swaption Seller’’) to enter into an index credit default swap transaction at a pre-determined strike price on a specified expiration date on specified terms. In the case of Index Swaptions cleared by ICC, the underlying index credit default swap is limited to certain CDX and iTraxx index credit default swaps that are accepted for clearing by ICC, and which would be automatically cleared by ICC upon exercise of the Index Swaption by the Swaption Buyer in accordance with its terms. B. Revisions to Rule 26R–319 ICC Rule 26R–319 describes what happens upon the exercise of an Index Swaption. ICC Rule 26R–319 consists of three parts: 26R–319(a), 26R–319(b), and 26R–319(c). 26R–319(a) applies when a Swaption Buyer effectively exercises an Index Swaption and the underlying index is not subject to a restructuring due to a credit event, while (b) and (c) apply when an Index Swaption is effectively exercised and the underlying index is subject to a restructuring due to a credit event. Under 26R–319(a), upon the effective exercise of an Index Swaption, a contract in the form of the underlying index comes into effect between the Swaption Buyer and ICC and an exactly 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Capitalized terms used but not defined herein have the meanings specified in the Rules and Exercise Procedures. 4 Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the ICC Clearing Rules and ICC Exercise Procedures; Exchange Act Release No. 34–93690 (Dec. 1, 2021); 86 FR 69308 (Dec. 7, 2021) (SR–ICC– 2021–023) (‘‘Notice’’). 2 17 3 See Securities Exchange Act Release No. 93696 (December 1, 2021), 86 FR 69306. Comments received on the proposal are available on the Commission’s website at: https://www.sec.gov/ comments/sr-cboeedgx-2021-049/ srcboeedgx2021049.htm. 4 15 U.S.C. 78s(b)(2). 5 Id. 6 17 CFR 200.30–3(a)(31). PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 4069 E:\FR\FM\26JAN1.SGM 26JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 87, Number 17 (Wednesday, January 26, 2022)]
[Notices]
[Page 4069]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01469]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-94008; File No. SR-CboeEDGX-2021-049]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Designation of a Longer Period for Commission Action on a Proposed 
Rule Change To Introduce a New Data Product To Be Known as the Short 
Volume Report, Modify the Name of Rule 13.8 to ``Data Products'', and 
Add a Preamble to Rule 13.8

January 20, 2022.
    On November 17, 2021, Cboe EDGX Exchange, Inc. (``Exchange'') 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 adopt 
Exchange Rule 13.8(h) to introduce a new data product to be known as 
the Short Volume Report, modify the name of Rule 13.8 to ``Data 
Products'', and add a preamble to Rule 13.8. The proposed rule change 
was published in the Federal Register on December 7, 2021.\3\
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 93696 (December 1, 
2021), 86 FR 69306. Comments received on the proposal are available 
on the Commission's website at: https://www.sec.gov/comments/sr-cboeedgx-2021-049/srcboeedgx2021049.htm.
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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 will 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 after publication of the notice for this proposed rule change 
is January 21, 2022. The Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change. Accordingly, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
March 7, 2022 as the date by which the Commission shall either approve 
or disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-CboeEDGX-2021-049).
---------------------------------------------------------------------------

    \5\ Id.
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-01469 Filed 1-25-22; 8:45 am]
BILLING CODE 8011-01-P

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