[Federal Register Volume 80, Number 147 (Friday, July 31, 2015)]
[Notices]
[Pages 45688-45689]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18769]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75529; File No. SR-ICC-2015-009]
Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of
Designation of Longer Period for Commission Action on Proposed Rule
Change To Revise the ICC Risk Management Framework
July 27, 2015.
On May 28, 2015, 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 (``Act'') \1\
and Rule 19b-4 thereunder,\2\ a proposed rule change to make revisions
to the ICC Risk Management Framework (SR-ICC-2015-009). The proposed
rule change was published for comment in the Federal Register on June
12, 2015.\3\ To date, the Commission has not received comments on the
proposal.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 34-75119 (Jun. 8, 2015),
80 FR 33573 (Jun. 12, 2015) (SR-ICC-2015-009).
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \4\ provides that within 45 days of the
publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day from the
[[Page 45689]]
publication of notice of filing of this proposed rule change is July
27, 2015.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
The Commission is extending the 45-day time period for Commission
action on the proposed rule change. ICC's proposed rule change would
revise the ICC Risk Management Framework to extend its General Wrong
Way Risk framework to the portfolio level to account for the potential
accumulation of portfolio wrong way risk through Risk Factor specific
wrong way risk exposures. The Commission finds it is appropriate to
designate a longer period within which to take action on the proposed
rule change so that it has sufficient time to consider ICC's proposed
rule change.
Accordingly, the Commission, pursuant to section 19(b)(2) of the
Act,\5\ designates September 10, 2015, as the date by which the
Commission should either approve or disapprove, or institute
proceedings to determine whether to disapprove, the proposed rule
change (File No. SR-ICC-2015-009).
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18769 Filed 7-30-15; 8:45 am]
BILLING CODE 8011-01-P