Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 34179 

72 Id. 

73 15 U.S.C. 78q–1(b)(3)(I). 74 17 CFR 200.30–3(a)(12). 

losses materialize, is calculated as the 

greatest of three estimated amounts, one 

of which is this Recovery/Wind-down 

Capital Requirement. Therefore, NSCC 

believes the R&W Plan, as it interrelates 

with the Capital Policy, is consistent 

with Rule 17Ad–22(e)(15)(ii).72

(B) Clearing Agency’s Statement on 

Burden on Competition 

NSCC does not believe the proposal 

would have any impact, or impose any 

burden, on competition not necessary or 

appropriate in furtherance of the 

purpose of the Act.73 The proposal 

would apply uniformly to all Members 

and Limited Members. NSCC does not 

anticipate that the proposal would affect 

its day-to-day operations under normal 

circumstances, or in the management of 

a typical Member default scenario or 

non-default event. NSCC is not 

proposing to alter the standards or 

requirements for becoming or remaining 

a Member, or otherwise using its 

services. NSCC also does not propose to 

change its methodology for calculation 

of margin or Clearing Fund 

contributions. The proposal is intended 

to (1) address the risk of loss events and 

identify the tools and resources 

available to it to withstand and recover 

from such events, so that it can restore 

normal operations, and (2) provide a 

framework for its orderly wind-down 

and the transfer of its business in the 

event those recovery tools do not restore 

NSCC to financial viability, as described 

herein. 

The R&W Plan and each of the 

Proposed Rules have been developed 

and documented in order to satisfy 

applicable regulatory requirements, as 

discussed above. 

With respect to the Recovery Plan, the 

proposal generally reflects NSCC’s 

existing tools and existing internal 

procedures. Existing tools that would 

have a direct impact on the rights, 

responsibilities or obligations of 

Members are reflected in the existing 

Rules or are proposed to be included in 

the Rules. Accordingly, the Recovery 

Plan and the proposed Force Majeure 

Rule are intended to provide a roadmap, 

define the strategy and identify the tools 

available to NSCC in connection with its 

recovery efforts. By proposing to 

enhance NSCC’s existing internal 

management and its regulatory 

compliance related to its recovery 

efforts, NSCC does not believe the 

Recovery Plan or the proposed Force 

Majeure Rule would have any impact, or 

impose any burden, on competition. 

With respect to the Wind-down Plan, 

the proposed Corporation Default Rule, 

and the proposed Wind-down Rule, 

which facilitate the execution of the 

Wind-down Plan, the proposal would 

operate to effect the transfer of all 

eligible Members and Limited Members 

to the Transferee, and would not 

prohibit any market participant from 

either bidding to become the Transferee 

or from applying for membership with 

the Transferee. The proposal also would 

not prohibit any Member or Limited 

Member from withdrawing from NSCC 

prior to the Transfer Time, as is 

permitted under the Rules today, or 

from applying for membership with the 

Transferee. Therefore, as the proposal 

would treat each similarly situated 

Member identically under the Winddown Plan and under these Proposed 

Rules, NSCC does not believe the Winddown Plan, the proposed Corporation 

Default Rule, or the proposed Winddown Rule would have any impact, or 

impose any burden, on competition. 

NSCC does not believe that the 

proposed change to the Rule numbers 

would have any impact on competition 

because this proposed change is 

technical in nature and would not 

change NSCC’s current practices or the 

rights or obligations of Members 

(C) Clearing Agency’s Statement on 

Comments on the Proposed Rule 

Change Received From Members, 

Participants, or Others 

While NSCC has not solicited or 

received any written comments relating 

to this proposal, NSCC has conducted 

outreach to Members in order to provide 

them with notice of the proposal. NSCC 

will notify the Commission of any 

written comments received by NSCC. 

III. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NSCC–2017–017 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–NSCC–2017–017. 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 (http://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 the 

filing also will be available for 

inspection and copying at the principal 

office of NSCC and on DTCC’s website 

(http://dtcc.com/legal/sec-rulefilings.aspx). 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–NSCC– 

2017–017 and should be submitted on 

or before August 3, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.74

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15367 Filed 7–18–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; 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: 

Regulation SCI, Form SCI; SEC File No. 

270–653, OMB Control No. 3235–0703. 

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 


sradovich on DSK3GMQ082PROD with NOTICES
34180 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 

(‘‘Commission’’) is soliciting comments 

on the collection of information 

provided for in Regulation Systems 

Compliance and Integrity (‘‘Regulation 

SCI’’) (17 CFR 242.1000–1007) and 

Form SCI (17 CFR 249.1900) under the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) (15 U.S.C. 78a et seq.). 

The Commission plans to submit this 

existing collection of information to the 

Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Regulation SCI requires certain key 

market participants to, among other 

things: (1) Have comprehensive policies 

and procedures in place to help ensure 

the robustness and resiliency of their 

technological systems, and also that 

their technological systems operate in 

compliance with the federal securities 

laws and with their own rules; and (2) 

provide certain notices and reports to 

the Commission to improve 

Commission oversight of securities 

market infrastructure. 

Regulation SCI advances the goals of 

the national market system by 

enhancing the capacity, integrity, 

resiliency, availability, and security of 

the automated systems of entities 

important to the functioning of the U.S. 

securities markets, as well as reinforcing 

the requirement that such systems 

operate in compliance with the 

Exchange Act and rules and regulations 

thereunder, thus strengthening the 

infrastructure of the U.S. securities 

markets and improving its resilience 

when technological issues arise. In this 

respect, Regulation SCI establishes an 

updated and formalized regulatory 

framework, thereby helping to ensure 

more effective Commission oversight of 

such systems. 

Respondents consist of national 

securities exchanges and associations, 

registered clearing agencies, exempt 

clearing agencies, plan processors, and 

alternative trading systems. There are 

currently 42 respondents, and the 

Commission staff estimates that, on 

average, 2 new respondents may become 

SCI entities each year, 1 of which would 

be a self-regulatory organization. 

Accordingly, Commission staff 

estimates that over the next three years 

there will be an average of 44 

respondents per year. 

Rule 1001(a) requires each SCI entity 

to establish, maintain, and enforce 

written policies and procedures 

reasonably designed to ensure that its 

SCI systems and, for purposes of 

security standards, indirect SCI systems, 

have levels of capacity, integrity, 

resiliency, availability, and security, 

adequate to maintain the SCI entity’s 

operational capability and promote the 

maintenance of fair and orderly markets. 

The Commission staff estimates that the 

total annual initial recordkeeping 

burden for 2 new respondents will be 

1,388 hours (694 hours per respondent 

× 2 respondents), and the annual 

ongoing recordkeeping burden for all 

respondents will be, on average, 10,208 

hours (232 hours per respondent × 44 

respondents). The Commission staff 

estimates that the 2 new respondents 

would incur, on average, an annual 

initial internal cost of compliance of 

$465,656 ($232,828 per respondent × 2 

respondents), as well as outside legal or 

consulting costs of $94,000 ($47,000 per 

respondent × 2 respondents). In 

addition, all respondents will incur, on 

average, an estimated ongoing annual 

internal cost of compliance of 

$3,426,632 ($77,878 per respondent × 44 

respondents). 

Rule 1001(b) requires each SCI entity 

to establish, maintain, and enforce 

written policies and procedures 

reasonably designed to ensure that its 

SCI systems operate in a manner that 

complies with the Exchange Act and the 

rules and regulations thereunder and 

the entity’s rules and governing 

documents, as applicable. The 

Commission staff estimates that the total 

annual initial recordkeeping burden for 

2 new respondents will be 540 hours 

(270 hours per respondent × 2 

respondents), and the annual ongoing 

recordkeeping burden for all 

respondents will be, on average, 6,820 

hours (175 hours per SRO respondent × 

33 respondents + 95 hours per non-SRO 

respondent × 11 non-SRO respondents). 

The Commission staff estimates that the 

2 new respondents would incur an 

initial internal cost of compliance of 

$203,160 ($101,580 per respondent × 2 

respondents), as well as outside legal or 

consulting costs of $54,000 ($27,000 per 

respondent × 2 respondents). In 

addition, all respondents will incur, on 

average, an estimated ongoing annual 

internal cost of compliance of 

$2,155,780 ($86,230 per respondent × 44 

respondents). 

Rule 1001(c) requires each SCI entity 

to establish, maintain, and enforce 

reasonably designed written policies 

and procedures that include the criteria 

for identifying responsible SCI 

personnel, the designation and 

documentation of responsible SCI 

personnel, and escalation procedures to 

quickly inform responsible SCI 

personnel of potential SCI events. The 

Commission staff estimates that the total 

annual initial recordkeeping burden for 

2 new respondents will be 228 hours 

(114 hours per respondent × 2 

respondents), and the annual ongoing 

recordkeeping burden for all 

respondents will be, on average, 1,716 

hours (39 hours per respondent × 44 

respondents). The Commission staff 

estimates that the 2 new respondents 

would incur an initial internal cost of 

compliance of $85,056 ($42,528 per 

respondent × 2 respondents), and all 

respondents will incur, on average, an 

estimated ongoing annual internal cost 

of compliance of $684,112 ($15,548 per 

respondent × 44 respondents). 

Rule 1004 requires each SCI entity to 

establish standards for the designation 

of certain members or participants for 

BC/DR plan testing, to designate 

members or participants in accordance 

with these standards, to require 

participation by designated members or 

participants in such testing at least 

annually, and to coordinate such testing 

on an industry- or sector-wide basis 

with other SCI entities. The Commission 

staff estimates that the total annual 

initial recordkeeping burden for 2 new 

respondents will be 720 hours (360 

hours per respondent × 2 respondents), 

and the annual ongoing recordkeeping 

burden for all respondents that are not 

plan processors will be, on average, 

5,670 hours (135 hours per respondent 

× 42 respondents). The Commission 

staff estimates that the 2 new 

respondents would incur an initial 

internal cost of compliance of $214,596 

($107,298 per respondent × 2 

respondents). In addition, all 

respondents that are not plan processors 

will incur, on average, an estimated 

ongoing annual internal cost of 

compliance of $1,508,850 ($35,925 per 

respondent × 42 respondents). In 

addition, the Commission staff estimates 

that the 2 plan processor respondents 

will incur an estimated ongoing annual 

cost of $108,000 for outside legal 

services ($54,000 per plan processor 

respondent × 2 respondents). 

Rule 1002(b)(1) requires each SCI 

entity, upon any responsible SCI 

personnel having a reasonable basis to 

conclude that an SCI event has 

occurred, to notify the Commission 

immediately. The Commission staff 

estimates that the total annual ongoing 

burden for all respondents will be, on 

average, 352 hours (8 hours per 

respondent × 44 respondents). The 

Commission staff estimates that 

respondents will incur, on average, an 

estimated ongoing annual internal cost 

of compliance of $108,394 ($2,463.25 

per respondent × 44 respondents). 

Rule 1002(b)(2) requires each SCI 

entity, within 24 hours of any 

responsible SCI personnel having a 

reasonable basis to conclude that the 

SCI event has occurred, to submit a 

written notification to the Commission 

pertaining to the SCI event on a good 

faith, best efforts basis. These 


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notifications are required to be 

submitted on Form SCI. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 5,280 

hours (120 hours per respondent × 44 

respondents). The Commission staff 

estimates that respondents will incur, 

on average, an estimated ongoing annual 

internal cost of compliance of 

$1,739,540 ($39,535 per respondent × 44 

respondents). 

Rule 1002(b)(3) requires each SCI 

entity to provide updates to the 

Commission pertaining to an SCI event 

on a regular basis, or at such frequency 

as reasonably requested by a 

representative of the Commission, until 

the SCI event is resolved and the SCI 

entity’s investigation of the SCI event is 

closed. The Commission staff estimates 

that the total annual ongoing burden for 

all respondents will be, on average, 462 

hours (10.5 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$144,309 ($3,279.75 per respondent × 44 

respondents). 

Rule 1002(b)(4) requires each SCI 

entity to submit written interim reports, 

as necessary, and a written final report 

regarding an SCI event to the 

Commission. These reports are required 

to be submitted on Form SCI. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 7,700 

hours (175 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$2,686,860 ($61,065 per respondent × 44 

respondents). 

Rule 1002(b)(5) requires each SCI 

entity to submit to the Commission 

quarterly reports containing a summary 

description of any systems disruption or 

systems intrusion that has had, or the 

SCI entity reasonably estimates would 

have, no or a de minimis impact on the 

SCI entity’s operations or on market 

participants. These reports are required 

to be submitted on Form SCI. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 7,040 

hours (160 hours per respondent × 44 

respondents). The Commission staff 

estimates that respondents will incur, 

on average, an estimated ongoing annual 

internal cost of compliance of 

$2,378,728 ($54,062 per respondent × 44 

respondents). 

In addition, the Commission staff 

estimates that respondents will incur, 

on average, annual costs of $255,200 

($5,800 × 44 respondents) for outside 

legal advice in preparation of certain 

notifications required by Rule 1002(b). 

Rule 1002(c)(1)(i) requires each SCI 

entity, promptly after any responsible 

SCI personnel has a reasonable basis to 

conclude that an SCI event (other than 

a systems intrusion) has occurred, to 

disseminate certain information to its 

members or participants. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 924 

hours (21 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$604,230 ($13,732.50 per respondent × 

44 respondents). 

Rule 1002(c)(1)(ii) requires each SCI 

entity, when known, to promptly 

disseminate additional information 

about an SCI event (other than a systems 

intrusion) to its members or 

participants. Rule 1002(c)(1)(iii) 

requires each SCI entity to provide to its 

members or participants regular updates 

of any information required to be 

disseminated under Rules 1002(c)(1)(i) 

and (ii) until the SCI event is resolved. 

The Commission staff estimates that the 

total annual ongoing burden for all 

respondents will be, on average, 5,148 

hours (117 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$2,033,856 ($46,224 per respondent × 44 

respondents). 

Rule 1002(c)(2) requires each SCI 

entity to disseminate certain 

information regarding a systems 

intrusion to its members or participants, 

and provides an exception when the SCI 

entity determines that dissemination of 

such information would likely 

compromise the security of its SCI 

systems or indirect SCI systems, or an 

investigation of the systems intrusion, 

and documents the reasons for such 

determination. The Commission staff 

estimates that the total annual ongoing 

burden for all respondents will be, on 

average, 440 hours (10 hours per 

respondent × 44 respondents). The 

Commission staff estimates that all 

respondents will incur, on average, an 

estimated ongoing annual internal cost 

of compliance of $173,415 ($3,941.25 

per respondent × 44 respondents). 

In addition, the Commission staff 

estimates that all respondents will 

incur, on average, annual costs of 

$146,080 ($3,320 × 44 respondents) for 

outside legal advice in preparation of 

certain notifications required by Rule 

1002(c). 

Rule 1003(a)(1) requires each SCI 

entity to submit to the Commission 

quarterly reports describing completed, 

ongoing, and planned material changes 

to its SCI systems and security of 

indirect SCI systems during the prior, 

current, and subsequent calendar 

quarters. These reports are required to 

be submitted on Form SCI. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 22,000 

hours (500 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$6,570,520 ($149,330 per respondent × 

44 respondents). 

Rule 1003(a)(2) requires each SCI 

entity to promptly submit a 

supplemental report notifying the 

Commission of a material error in or 

material omission from a report 

previously submitted under Rule 

1003(a)(1). These reports are required to 

be submitted on Form SCI. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 660 

hours (15 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$209,176 ($4,754 per respondent × 44 

respondents). 

Rule 1003(b)(1) requires each SCI 

entity to conduct an SCI review of its 

compliance with Regulation SCI not less 

than once each calendar year, with an 

exception for penetration test reviews, 

which are required to be conducted not 

less than once every three years. Rule 

1003(b)(1) also provides an exception 

for assessments of SCI systems directly 

supporting market regulation or market 

surveillance, which are required to be 

conducted at a frequency based on the 

risk assessment conducted as part of the 

SCI review, but in no case less than 

once every three years. Rule 1003(b)(2) 

requires each SCI entity to submit a 

report of the SCI review to senior 

management no more than 30 calendar 

days after completion of the review. The 

Commission staff estimates that the total 

annual ongoing burden for all 

respondents will be, on average, 30,360 

hours (690 hours per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$9,724,660 ($221,015 per respondent × 

44 respondents). 

Rule 1003(b)(3) requires each SCI 

entity to submit the report of the SCI 

review to the Commission and to its 


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34182 Federal Register / Vol. 83, No. 139 / Thursday, July 19, 2018 / Notices 

board of directors or the equivalent of 

such board, together with any response 

by senior management, within 60 

calendar days after its submission to 

senior management. These reports are 

required to be submitted on Form SCI. 

The Commission staff estimates that the 

total annual ongoing burden for all 

respondents will be, on average, 44 

hours (1 hour per respondent × 44 

respondents). The Commission staff 

estimates that all respondents will 

incur, on average, an estimated ongoing 

annual internal cost of compliance of 

$18,128 ($412 per respondent × 44 

respondents). 

In addition, the Commission staff 

estimates that all respondents will 

incur, on average, annual costs of 

$2,200,000 ($50,000 × 44 respondents) 

for outside legal advice in preparation of 

certain notifications required by Rule 

1003(b). 

Rule 1006 requires each SCI entity, 

with a few exceptions, to file any 

notification, review, description, 

analysis, or report to the Commission 

required under Regulation SCI 

electronically on Form SCI through the 

EFFS. An SCI entity will submit to the 

Commission an EAUF to register each 

individual at the SCI entity who will 

access the EFFS system on behalf of the 

SCI entity. The Commission staff 

estimates that the total annual initial 

burden for 2 new respondents will be 

0.6 hours (0.3 hours per respondent × 2 

respondents), and the annual ongoing 

burden for all respondents will be, on 

average, 6.6 hours (0.15 hours per 

respondent × 44 respondents). The 

Commission staff estimates that the 2 

new respondents would incur an initial 

internal cost of compliance of $248 

($124 per respondent × 2 respondents), 

as well as outside costs to obtain a 

digital ID of $100 ($50 per respondent 

× 2 respondents). In addition, all 

respondents will incur, on average, an 

estimated ongoing annual internal cost 

of compliance of $2,728 ($62 per 

respondent × 44 respondents), as well as 

outside costs to obtain a digital ID of 

$2,200 ($50 per respondent × 44 

respondents). 

Rule 1002(a) requires each SCI entity, 

upon any responsible SCI personnel 

having a reasonable basis to conclude 

that an SCI event has occurred, to begin 

to take appropriate corrective action. 

The Commission staff estimates that the 

total annual initial recordkeeping 

burden for 2 new respondents will be 

228 hours (114 hours per respondent × 

2 respondents), and the annual ongoing 

recordkeeping burden for all 

respondents will be, on average, 1,716 

hours (39 hours per respondent × 44 

respondents). The Commission staff 

estimates that the 2 new respondents 

would incur an initial internal cost of 

compliance of $85,056 ($42,528 per 

respondent × 2 respondents). In 

addition, all respondents will incur, on 

average, an estimated ongoing annual 

internal cost of compliance of $677,468 

($15,397 per respondent × 44 

respondents). 

Rule 1003(a)(1) requires each SCI 

entity to establish reasonable written 

criteria for identifying a change to its 

SCI systems and the security of indirect 

SCI systems as material. The 

Commission staff estimates that the total 

annual initial recordkeeping burden for 

2 new respondents will be 228 hours 

(114 hours per respondent × 2 

respondents), and the annual ongoing 

recordkeeping burden for all 

respondents will be, on average, 1,188 

hours (27 hours per respondent × 44 

respondents). The Commission staff 

estimates that the 2 new respondents 

would incur an initial internal cost of 

compliance of $85,056 ($42,528 per 

respondent × 2 respondents). In 

addition, all respondents will incur, on 

average, an estimated ongoing annual 

internal cost of compliance of $507,584 

($11,536 per respondent × 44 

respondents). 

Regulation SCI also requires SCI 

entities to identify certain types of 

events and systems. The Commission 

staff estimates that the total annual 

initial recordkeeping burden for 2 new 

respondents will be 396 hours (198 

hours per respondent × 2 respondents), 

and the annual ongoing recordkeeping 

burden for all respondents will be, on 

average, 1,716 hours (39 hours per 

respondent × 44 respondents). The 

Commission staff estimates that the 2 

new respondents would incur an initial 

internal cost of compliance of $139,412 

($69,706 per respondent × 2 

respondents). In addition, all 

respondents will incur, on average, an 

estimated ongoing annual internal cost 

of compliance of $677,468 ($15,397 per 

respondent × 44 respondents). 

Rules 1005 and 1007 establish 

recordkeeping requirements for SCI 

entities other than SROs. The 

Commission staff estimates that for a 

new respondent that is not an SRO the 

average annual initial burden would be 

170 hours (170 hours × 1 respondent), 

and the annual ongoing burden for all 

respondents will be, on average, 275 

hours (25 hours × 11 respondents). The 

Commission staff estimates that a new 

respondent would incur an estimated 

internal initial internal cost of 

compliance of $11,370, as well as a onetime cost of $900 to modify existing 

recordkeeping systems. In addition, all 

respondents will incur, on average, an 

estimated ongoing internal cost of 

compliance of $18,975 ($1,725 × 11 

respondents). 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; and 

(d) ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

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. 

Please direct your written comments 

to: Pamela Dyson, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Candace 

Kenner, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: July 13, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15381 Filed 7–18–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83635; File No. SR–CHX– 

2018–004] 

Self-Regulatory Organizations; 

Chicago Stock Exchange, Inc.; Notice 

of Filing of Amendment Nos. 2 and 3 

and Order Granting Accelerated 

Approval of a Proposed Rule Change, 

as Modified by Amendments Nos. 1, 2, 

and 3 Thereto, in Connection With a 

Proposed Transaction Involving CHX 

Holdings, Inc. and the Intercontinental 

Exchange, Inc. 

July 13, 2018. 

I. Introduction 

On May 8, 2018, the Chicago Stock 

Exchange, Inc. (‘‘CHX’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Exchange 


sradovich on DSK3GMQ082PROD with NOTICES