Self-Regulatory Organizations; ICE Clear Europe Limited; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Amendments Part HH of Its Delivery Procedures, 41171-41173 [2023-13348]
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Federal Register / Vol. 88, No. 120 / Friday, June 23, 2023 / Notices
across the securities industry, and
helping to avoid confusion for Exchange
members that are also FINRA members.
NYSE American also noted that FINRA
plans to conduct additional public
outreach efforts to promote awareness of
the MQP and the availability of the
Second Enrollment Period among LookBack Individuals. Therefore, NYSE
American additionally indicated that
the immediate operation of the
proposed rule change is appropriate
because it would ensure that there is
sufficient time for Look-Back
Individuals to consider whether they
wish to participate in the program
before the December 31, 2023 deadline.
For these reasons, the Commission
believes that waiver of the 30-day
operative delay for this proposal is
consistent with the protection of
investors and the public interest.
Accordingly, the Commission hereby
waives the 30-day operative delay and
designates the proposal operative upon
filing.23
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) 24 of the Act 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:
lotter on DSK11XQN23PROD with NOTICES1
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–
NYSEAMER–2023–33 on the subject
line.
Commission, 100 F Street NE,
Washington, DC 20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
All submissions should refer to File
Number SR–NYSEAMER–2023–33. 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
a.m. and 3 p.m. Copies of such filing
also will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to File
Number SR–NYSEAMER–2023–33 and
should be submitted on or before July
14, 2023.
[Release No. 34–97746; File No. SR–ICEEU–
2023–015]
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.25
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023–13344 Filed 6–22–23; 8:45 am]
BILLING CODE 8011–01–P
Paper Comments
• Send paper comments in triplicate
to: Secretary, Securities and Exchange
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to
Amendments Part HH of Its Delivery
Procedures
June 16, 2023.
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 6,
2023, ICE Clear Europe Limited filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule changes described in
Items I, II and III below, which Items
have been prepared primarily by ICE
Clear Europe Limited. ICE Clear Europe
Limited filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(4) 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
ICE Clear Europe Limited (‘‘ICE Clear
Europe’’ or the ‘‘Clearing House’’)
proposes to amend Part HH of its
Delivery Procedures (‘‘Delivery
Procedures’’ or ‘‘Procedures’’) 5 to make
certain corrections and clarifications
with respect to the ICE Endex French
PEG Natural Gas Contracts to be
consistent with relevant exchange
contract specifications.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission, ICE
Clear Europe 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. ICE
Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C)
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(4).
5 Capitalized terms used but not defined herein
have the meanings specified in the Delivery
Procedures or, if not defined therein, the ICE Clear
Europe Clearing Rules.
2 17
23 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule change’s impact on efficiency,
competition, and capital formation. See 15 U.S.C.
78c(f).
24 15 U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
18:01 Jun 22, 2023
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41172
Federal Register / Vol. 88, No. 120 / Friday, June 23, 2023 / Notices
below, of the most significant aspects of
such statements.
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
(a) Purpose
ICE Clear Europe is proposing to
amend Part HH of the Delivery
Procedures which applies to ICE Endex
French PEG Natural Gas Contracts to
make certain corrections and
clarifications to be consistent with
exchange contract specifications. In
paragraph 3.2, the amendments would
clarify that the contract trades in
megawatt hours (MWh) per day and
would correctly reflect that the contract
is delivered in kilowatt hours (kWh)
rather than MWh. The delivery
documentation summary in paragraph
9.1 would also be amended to reflect the
correction from MWh to kWh for
deliveries under the contract. In
paragraph 9.2, a correction would be
made for invoice report and account
sale report requirements to reflect that
ICE Endex French PEG Daily Futures are
priced in Euros per MWh (rather than
pence per Therm). The amendments do
not otherwise change the terms and
conditions of deliveries under the
relevant contract.
lotter on DSK11XQN23PROD with NOTICES1
(b) Statutory Basis
ICE Clear Europe believes that the
proposed amendments to the Delivery
Procedures are consistent with the
requirements of Section 17A of the Act 6
and the regulations thereunder
applicable to it. In particular, Section
17A(b)(3)(F) of the Act 7 requires, among
other things, that the rules of a clearing
agency be designed to promote the
prompt and accurate clearance and
settlement of securities transactions
and, to the extent applicable, derivative
agreements, contracts, and transactions,
the safeguarding of securities and funds
in the custody or control of the clearing
agency or for which it is responsible,
and the protection of investors and the
public interest. The proposed changes to
the Delivery Procedures are designed to
make certain clarifications and
corrections in Part HH relating to
settlement for ICE Endex French PEG
Natural Gas Contracts, for consistency
with relevant exchange contract
specifications. The amendments do not
otherwise change the manner in which
the contracts are cleared or settled.
Accordingly, ICE Clear Europe believes
that the Delivery Procedures, as
amended, would be consistent with the
prompt and accurate clearance and
settlement of the contracts, and the
protection of investors and the public
interest consistent with the
requirements of Section 17A(b)(3)(F) of
the Act.8 (In ICE Clear Europe’s view,
the amendments would not affect the
safeguarding of funds or securities in
the custody or control of the clearing
agency or for which it is responsible,
within the meaning of Section
17A(b)(3)(F).9)
In addition, Rule 17Ad–22(e)(10) 10
provides that ‘‘[e]ach covered clearing
agency shall establish, implement,
maintain and enforce written policies
and procedures reasonably designed to,
as applicable [. . .] establish and
maintain transparent written standards
that state its obligations with respect to
the delivery of physical instruments,
and establish and maintain operational
practices that identify, monitor and
manage the risks associated with such
physical deliveries.’’ As discussed
above, the amendments would make
certain corrections and clarifications
relating to settlement under ICE Endex
French PEG Natural Gas Contracts,
including with respect to deliveries
being made in kWh. The amendments
thus appropriately clarify the role and
responsibilities of the Clearing House
and Clearing Members with respect to
the contracts. As a result, ICE Clear
Europe believes the amendments are
consistent with the requirements of Rule
17Ad–22(e)(10).11
(B) Clearing Agency’s Statement on
Burden on Competition
ICE Clear Europe does not believe the
proposed amendments would have any
impact, or impose any burden, on
competition not necessary or
appropriate in furtherance of the
purposes of the Act. The proposed
amendments to the Delivery Procedures
are intended to make certain corrections
and clarifications relating to ICE Endex
French PEG Natural Gas Contracts. The
amendments would not change the
obligations of market participants under
those contracts. ICE Clear Europe does
not believe the amendments would
adversely affect competition among
Clearing Members, materially affect the
cost of clearing, adversely affect access
to clearing in the new contracts for
Clearing Members or their customers, or
otherwise adversely affect competition
in clearing services. Accordingly, ICE
Clear Europe does not believe that the
amendments would impose any impact
8 15
U.S.C. 78q–1(b)(3)(F).
U.S.C. 78q–1(b)(3)(F).
10 17 CFR 240.17Ad–22(e)(10).
11 17 CFR 240.17Ad–22(e)(10).
or burden on competition that is not
appropriate in furtherance of the
purpose of the Act.
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change
Written comments relating to the
proposed amendment has not been
solicited or received by ICE Clear
Europe. ICE Clear Europe will notify the
Commission of any comments received
with respect to the proposed rule
change.
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 12 and paragraph (f) of Rule
19b–4 13 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–
ICEEU–2023–015 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–ICEEU–2023–015. 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
9 15
6 15
7 15
U.S.C. 78q–1.
U.S.C. 78q–1(b)(3)(F).
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18:01 Jun 22, 2023
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13 17
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U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
23JNN1
Federal Register / Vol. 88, No. 120 / Friday, June 23, 2023 / 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 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
a.m. and 3 p.m. Copies of such filings
will also be available for inspection and
copying at the principal office of ICE
Clear Europe and on ICE Clear Europe’s
website at https://www.theice.com/
clear-europe/regulation.
Do not include personal identifiable
information in submissions; you should
submit only information that you wish
to make available publicly. We may
redact in part or withhold entirely from
publication submitted material that is
obscene or subject to copyright
protection. All submissions should refer
to File Number SR–ICEEU–2023–015
and should be submitted on or before
July 14, 2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023–13348 Filed 6–22–23; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–97744; File No. SR–
NYSECHX–2023–13]
Self-Regulatory Organizations; NYSE
Chicago, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change for Amendments to the
Exchange’s Rules Regarding
Continuing Education Requirements
lotter on DSK11XQN23PROD with NOTICES1
June 16, 2023.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on June 5,
2023, NYSE Chicago, Inc. (‘‘NYSE
Chicago’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘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
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
18:01 Jun 22, 2023
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
self-regulatory organization 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 those 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 parts of such
statements.
1. Purpose
The continuing education program for
registered persons of broker-dealers
(‘‘CE Program’’) currently requires
registered persons to complete
continuing education consisting of a
Regulatory Element and a Firm Element.
The Regulatory Element, which is
administered by FINRA on behalf of the
Exchange, focuses on regulatory
requirements and industry standards,
while the Firm Element is provided by
each firm and focuses on securities
products, services and strategies the
firm offers, firm policies and industry
trends.
The CE Program is codified under the
rules of the self-regulatory
organizations. The CE Program for
registered persons of NYSE Chicago
members is codified under Article 6,
Rule 11.5 This proposed rule change is
4 A Participant is a ‘‘member’’ of the Exchange for
purposes of the Act. See Article 1, Rule 1(s).
5 See also Interpretations and Policies .06 to
Article 6, Rule 13 (All Registered Persons Must
1 15
VerDate Sep<11>2014
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes amendments
to the Exchange’s rules regarding
continuing education requirements
(Article 6, Rule 11) applicable to
Participants 4 to provide eligible
individuals another opportunity to elect
to participate in the Maintaining
Qualifications Program (‘‘MQP’’). The
proposed rule change is available on the
Exchange’s website at www.nyse.com, at
the principal office of the Exchange, and
at the Commission’s Public Reference
Room.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
14 17
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
Jkt 259001
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41173
based on a filing recently submitted by
the Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’), and is
intended to harmonize the Exchange’s
continuing education rules with those of
FINRA so as to promote uniform
standards across the securities
industry.6 The proposed rule change is
discussed in detail below.
On May 25, 2022, the Exchange
amended NYSE Chicago Article 6, Rule
11 (Continuing Education for Registered
Persons) and Rule 13 (Registration
Requirements) to, among other things,
provide eligible individuals who
terminate any of their representative or
principal registration categories the
option of maintaining their qualification
for any terminated registration
categories by completing annual
continuing education through a new
program, the MQP.7 By that time,
however, the First Enrollment Period,
defined below, had expired leaving
many eligible individuals from being
able to participate in the MQP. This
proposed rule change will provide those
eligible individuals a second
opportunity to elect to participate in the
MQP to maintain their qualification.
Prior to the MQP, individuals whose
registrations as representatives or
principals had been terminated for two
or more years could reregister as
representatives or principals only if they
requalified by retaking and passing the
applicable representative- or principallevel examination or if they obtained a
waiver of such examination(s) (the
‘‘two-year qualification period’’). The
MQP provides these individuals an
alternative means of staying current on
their regulatory and securities
knowledge following the termination of
a registration.8 Specifically, the MQP
provides eligible individuals a
maximum of five years following the
termination of a representative or
Satisfy the Regulatory Element of Continuing
Education).
6 See Securities Exchange Act Release No. 97184
(March 22, 2023), 88 FR 18359 (March 28, 2023)
(SR–FINRA–2023–005) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
To Amend FINRA Rule 1240.01 To Provide Eligible
Individuals Another Opportunity To Elect To
Participate in the Maintaining Qualifications
Program) (‘‘FINRA Rule Change’’).
7 See Securities Exchange Act Release No. 95063
(June 7, 2022), 87 FR 35826 (June 13, 2022) (SR–
NYSECHX–2022–11) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change
for Amendments to the Exchange’s Rules Regarding
Continuing Education Requirements).
8 The MQP does not eliminate the two-year
qualification period. Thus, eligible individuals who
elect not to participate in the MQP can continue to
avail themselves of the two-year qualification
period (i.e., they can reregister within two years of
terminating a registration category without having
to requalify by examination or having to obtain an
examination waiver).
E:\FR\FM\23JNN1.SGM
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]]>Agencies
[Federal Register Volume 88, Number 120 (Friday, June 23, 2023)]
[Notices]
[Pages 41171-41173]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13348]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97746; File No. SR-ICEEU-2023-015]
Self-Regulatory Organizations; ICE Clear Europe Limited; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change Relating
to Amendments Part HH of Its Delivery Procedures
June 16, 2023.
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 6, 2023, ICE Clear Europe Limited filed with the Securities and
Exchange Commission (``Commission'') the proposed rule changes
described in Items I, II and III below, which Items have been prepared
primarily by ICE Clear Europe Limited. ICE Clear Europe Limited filed
the proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\
and Rule 19b-4(f)(4) 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)(4).
---------------------------------------------------------------------------
I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
ICE Clear Europe Limited (``ICE Clear Europe'' or the ``Clearing
House'') proposes to amend Part HH of its Delivery Procedures
(``Delivery Procedures'' or ``Procedures'') \5\ to make certain
corrections and clarifications with respect to the ICE Endex French PEG
Natural Gas Contracts to be consistent with relevant exchange contract
specifications.
---------------------------------------------------------------------------
\5\ Capitalized terms used but not defined herein have the
meanings specified in the Delivery Procedures or, if not defined
therein, the ICE Clear Europe Clearing Rules.
---------------------------------------------------------------------------
II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
In its filing with the Commission, ICE Clear Europe 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. ICE Clear Europe has prepared summaries,
set forth in sections (A), (B), and (C)
[[Page 41172]]
below, of the most significant aspects of such statements.
(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
(a) Purpose
ICE Clear Europe is proposing to amend Part HH of the Delivery
Procedures which applies to ICE Endex French PEG Natural Gas Contracts
to make certain corrections and clarifications to be consistent with
exchange contract specifications. In paragraph 3.2, the amendments
would clarify that the contract trades in megawatt hours (MWh) per day
and would correctly reflect that the contract is delivered in kilowatt
hours (kWh) rather than MWh. The delivery documentation summary in
paragraph 9.1 would also be amended to reflect the correction from MWh
to kWh for deliveries under the contract. In paragraph 9.2, a
correction would be made for invoice report and account sale report
requirements to reflect that ICE Endex French PEG Daily Futures are
priced in Euros per MWh (rather than pence per Therm). The amendments
do not otherwise change the terms and conditions of deliveries under
the relevant contract.
(b) Statutory Basis
ICE Clear Europe believes that the proposed amendments to the
Delivery Procedures are consistent with the requirements of Section 17A
of the Act \6\ and the regulations thereunder applicable to it. In
particular, Section 17A(b)(3)(F) of the Act \7\ requires, among other
things, that the rules of a clearing agency be designed to promote the
prompt and accurate clearance and settlement of securities transactions
and, to the extent applicable, derivative agreements, contracts, and
transactions, the safeguarding of securities and funds in the custody
or control of the clearing agency or for which it is responsible, and
the protection of investors and the public interest. The proposed
changes to the Delivery Procedures are designed to make certain
clarifications and corrections in Part HH relating to settlement for
ICE Endex French PEG Natural Gas Contracts, for consistency with
relevant exchange contract specifications. The amendments do not
otherwise change the manner in which the contracts are cleared or
settled. Accordingly, ICE Clear Europe believes that the Delivery
Procedures, as amended, would be consistent with the prompt and
accurate clearance and settlement of the contracts, and the protection
of investors and the public interest consistent with the requirements
of Section 17A(b)(3)(F) of the Act.\8\ (In ICE Clear Europe's view, the
amendments would not affect the safeguarding of funds or securities in
the custody or control of the clearing agency or for which it is
responsible, within the meaning of Section 17A(b)(3)(F).\9\)
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78q-1.
\7\ 15 U.S.C. 78q-1(b)(3)(F).
\8\ 15 U.S.C. 78q-1(b)(3)(F).
\9\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
In addition, Rule 17Ad-22(e)(10) \10\ provides that ``[e]ach
covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable [. . .] establish and maintain transparent written standards
that state its obligations with respect to the delivery of physical
instruments, and establish and maintain operational practices that
identify, monitor and manage the risks associated with such physical
deliveries.'' As discussed above, the amendments would make certain
corrections and clarifications relating to settlement under ICE Endex
French PEG Natural Gas Contracts, including with respect to deliveries
being made in kWh. The amendments thus appropriately clarify the role
and responsibilities of the Clearing House and Clearing Members with
respect to the contracts. As a result, ICE Clear Europe believes the
amendments are consistent with the requirements of Rule 17Ad-
22(e)(10).\11\
---------------------------------------------------------------------------
\10\ 17 CFR 240.17Ad-22(e)(10).
\11\ 17 CFR 240.17Ad-22(e)(10).
---------------------------------------------------------------------------
(B) Clearing Agency's Statement on Burden on Competition
ICE Clear Europe does not believe the proposed amendments would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The proposed
amendments to the Delivery Procedures are intended to make certain
corrections and clarifications relating to ICE Endex French PEG Natural
Gas Contracts. The amendments would not change the obligations of
market participants under those contracts. ICE Clear Europe does not
believe the amendments would adversely affect competition among
Clearing Members, materially affect the cost of clearing, adversely
affect access to clearing in the new contracts for Clearing Members or
their customers, or otherwise adversely affect competition in clearing
services. Accordingly, ICE Clear Europe does not believe that the
amendments would impose any impact or burden on competition that is not
appropriate in furtherance of the purpose of the Act.
(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Written comments relating to the proposed amendment has not been
solicited or received by ICE Clear Europe. ICE Clear Europe will notify
the Commission of any comments received with respect to the proposed
rule change.
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 \12\ and paragraph (f) of Rule 19b-4 \13\
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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\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f).
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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-ICEEU-2023-015 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-ICEEU-2023-015. 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
[[Page 41173]]
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 a.m. and 3 p.m. Copies of such
filings will also be available for inspection and copying at the
principal office of ICE Clear Europe and on ICE Clear Europe's website
at https://www.theice.com/clear-europe/regulation.
Do not include personal identifiable information in submissions;
you should submit only information that you wish to make available
publicly. We may redact in part or withhold entirely from publication
submitted material that is obscene or subject to copyright protection.
All submissions should refer to File Number SR-ICEEU-2023-015 and
should be submitted on or before July 14, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2023-13348 Filed 6-22-23; 8:45 am]
BILLING CODE 8011-01-P
