Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 4635 

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)(2). 

5All capitalized terms not defined herein shall 

have the same definition as in the Rule Book or 

Procedures, as applicable. 

6All capitalized terms not defined herein have 

the same definition as in the CDS Clearing Rule 

Book available at https://www.lch.com/system/files/ 

media_root/CDSClear_Rule_Book__26.09.2023.pdf. 

Ragen, Branch Chief, at (202) 551–6825 

(Division of Investment Management, 

Chief Counsel’s Office). 

SUPPLEMENTARY INFORMATION: For 

Applicants’ representations, legal 

analysis, and conditions, please refer to 

Applicants’ first amended and restated 

application, dated December 1, 2023, 

which may be obtained via the 

Commission’s website by searching for 

the file number at the top of this 

document, or for an Applicant using the 

Company name search field, on the 

SEC’s EDGAR system. 

The SEC’s EDGAR system may be 

searched at http://www.sec.gov/edgar/ 

searchedgar/legacy/ 

companysearch.html. You may also call 

the SEC’s Public Reference Room at 

(202) 551–8090. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–01362 Filed 1–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99391; File No. SR–LCH 

SA–2024–001] 

Self-Regulatory Organizations; LCH 

SA; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to the CDSClear Fee 

Grid for 2024 

January 18, 2024. 

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 January 4, 

2024, Banque Centrale de 

Compensation, which conducts 

business under the name LCH SA (‘‘LCH 

SA’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change (‘‘Proposed 

Rule Change’’) described in Items I, II 

and III below, which Items have been 

prepared primarily by LCH SA. LCH SA 

filed the proposed rule change pursuant 

to section 19(b)(3)(A) of the Act,3 and 

Rule 19b–4(f)(2) 4 thereunder, so that the 

proposal was 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 

LCH SA is proposing to amend its 

CDSClear fee grid for single name and 

index CDS and options products (‘‘Fee 

Grid’’) by incorporating changes in the 

CDSClear business and new clearing 

services offered (the ‘‘Proposed Rule 

Change’’). The text of the Proposed Rule 

Change has been annexed hereto [sic] as 

Exhibit 5. No amendments to the LCH 

SA CDS Clearing Rule Book (‘‘Rule 

Book’’) or the CDS Clearing Procedures 

(‘‘Procedures’’) are required to effect 

these changes.5 The text of the Proposed 

Rule Change has been annexed [sic] as 

Exhibit 5 to File No. SR–LCH SA–2024– 

001.6

The implementation of the Proposed 

Rule Change will be contingent on LCH 

SA’s receipt of all necessary regulatory 

approvals, including the approval by the 

Commission of the Proposed Rule 

Change described herein. 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, 

LCH SA 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. LCH 

SA has prepared summaries, set forth in 

sections A, B, and C 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 

1. Purpose 

The purpose of the Proposed Rule 

Change is for LCH SA CDSClear to 

amend its Fee Grid for single name and 

index CDS and options products by 

incorporating changes in the CDSClear 

business and new clearing services 

offered. The Proposed Rule Change 

reflects the ongoing development and 

new product scope of the CDSClear 

service with the objective to meet 

Clearing Members’ and Clients’ evolving 

business needs. For example, among 

other changes, LCH SA is proposing to 

remove the Ö200,000 rebate under the 

General Member Introductory Tariff for 

total notional cleared below Ö10bn for 

single name and sovereign CDS, as this 

rebate was established to incentivize 

new clearing memberships as the 

business evolved. Likewise, LCH SA is 

also proposing to reduce the onboarding 

fee for options products from Ö30,000 to 

Ö15,000 to incentivize clearing of credit 

index options. 

LCH SA is proposing to amend the 

CDSClear Fee Grid for 2024 as follows 

for CDS products: 

Self-Clearing Tariff for Corporates, 

Financials and Sovereign Index and 

Single Name CDS 

i. General Member Unlimited Tariff 

LCH SA is proposing to clarify that 

the Annual Fixed Fee of Ö1,350,000 will 

be charged at a rate of 1/12th for each 

month the Clearing Member group is 

live. A footnote will be added to the Fee 

Grid to state that a Clearing Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. LCH SA also 

proposes to amend the ‘‘Details’’ 

column of the Fee Grid to clarify that 

the Annual Fixed Fee applies to all 

indices and all non-sovereign single 

names activity for a Financial Group of 

a Clearing Member. This change is being 

made to simplify the existing language 

and has no impact on the General 

Member unlimited tariff amounts. LCH 

SA also proposes to remove reference to 

the full discount applied to sovereign 

single name variable fees, as the 

discount will no longer apply beginning 

in 2024. 

ii. General Member—Introductory Tariff 

LCH SA is proposing to apply a single 

annual fixed fee of Ö400,000 for the 

General Member’s Introductory Tariff. 

As such, LCH SA is subsequently 

proposing to remove the Ö200,000 

rebate if a General Member’s notional 

amount cleared is below Ö10bn. LCH SA 

also proposes to delete the reference to 

the rebate under the Introductory Tariff 

heading, as this would no longer be 

applicable. In addition, as part of this 

revision to the Fee Grid, LCH SA is 

proposing to clarify that the fixed fee 

will be charged at a rate of 1/12th for 

each month the General Member is live. 

Finally, LCH SA will add a footnote to 

state that a General Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. 

iii. Select Members 

For Select Members, LCH SA is 

proposing amendments to certain 

footnotes under the ‘‘Select 

Membership’’ heading. Specifically, 

LCH SA is proposing to clarify that the 


ddrumheller on DSK120RN23PROD with NOTICES1
4636 Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 

7LCH SA currently assesses an onboarding fee of 

Ö15,000 for its EquityClear SA and CommodityClear 

SA services. 

8Under the CCP switch Incentive Programme, 

Members and Clients may benefit from the 

programme by closing out existing CDS transactions 

at their current CDS CCP and clearing new 

transactions at LCH SA. Any trades that were 

moved to LCH SA from another CCP prior to 1 Jan 

2024 will be rebated in 2023 and cannot be claimed 

for after this date. 

Annual Fixed Fee for Select Members 

will be charged 1/12th for each month 

the Select Member is live. This 

amended footnote will apply to the 

Annual Fixed Fee of Ö450,000. LCH SA 

also proposes to add a footnote 

clarifying the rebate available to Select 

Members. If a Select Member’s total 

annual gross notional cleared is under 

Ö10bn and the Select Member is live for 

the whole calendar year (January 1– 

December 31), LCH SA will provide a 

Ö200,000 rebate in the Select Member’s 

December bill, resulting in a reduced 

Annual Fixed Fee of Ö250,000. 

iv. High Turnover Fee Plan 

LCH SA offers a High Turnover Fee 

Plan (‘‘HTFP’’) based on notional 

cleared. LCH SA is proposing to clarify 

that the HTFP applies on the notional 

cleared in a calendar year but excludes 

from the determination of the total 

cleared notional, the trades not charged 

under the Switch Programme. The 

HTFP will also continue to exclude the 

notional cleared for which a CCP Switch 

credit note was used to zero out the 

clearing fees and the notional cleared 

part of a CCP Switch that thus did not 

attract any clearing fees (i.e., only those 

trades which attract a fee will count 

towards the HTFP notionals). Finally, 

LCH SA is proposing to clarify that the 

HTFP does not apply to General 

Members. 

v. Onboarding Fees 

For new Clearing Member 

onboardings in 2024, LCH SA is 

proposing to add a Ö15,000 onboarding 

fee for the purposes of cost recovery and 

to align with other LCH SA services.7

LCH SA will apply this to all 

application files received after January 

1, 2024. 

vi. Annual Account Structure Fees 

LCH SA currently offers Legally 

Segregated Operationally Commingled 

(‘‘LSOC’’) accounts to Clearing Members 

of CDSClear, in addition to Individual 

Segregated Accounts and Omnibus 

Segregated Accounts. LCH SA is 

proposing to continue not to charge a 

yearly fee for LSOC accounts under the 

Proposed Rule Change and thus no 

change is being made to the Fee Grid. 

Client Clearing Tariff for Corporate, 

Financials and Sovereign Index and 

Single Names CDS 

i. Intraday Trading Fee Plan 

LCH SA is proposing to add an 

intraday trading fee discount which will 

be applied by only charging the 

maximum notional of buys and sells per 

contract per day per trade account, 

where trade date is equal to clearing 

date (i.e., trades that are backloaded or 

the result of an option exercise are 

excluded from the discount, as trade 

date will be before the clearing date for 

these trades). LCH SA is proposing the 

intraday trading fee plan to clients in 

order to incentivize clients to sign up 

for CDSClear services. Clearing 

Members that would benefit from this 

tariff are usually market makers who 

would buy and sell the same instrument 

multiple times a day. Such Clearing 

Members can instead already benefit 

from the Unlimited tariff available to 

General Members. 

ii. CCP Switch Programme 

LCH SA is proposing to amend the 

first footnote to clarify that the CCP 

Switch Programme (‘‘Switch 

Programme’’) is available to market 

participants and applicable to live CCP 

trades beginning on January 4, 2024 

onwards.8 LCH SA is not proposing any 

other amendments to this section of the 

Fee Grid. 

iii. High Turnover Fee Plan 

LCH SA is proposing to amend the 

footnote to clarify that the HTFP applies 

on the notional cleared in a calendar 

year but excludes from the 

determination of the total cleared 

notional, the trades not charged under 

the Intraday Trading Fee Plan or the 

Switch Programme. The HTFP will also 

continue to exclude the notional cleared 

for which a CCP Switch credit note was 

used to zero out the clearing fees and 

the notional cleared part of a CCP 

Switch that thus did not attract any 

clearing fees (i.e., only those trades 

which attract a fee will count towards 

the HTFP notionals). Finally, LCH SA is 

proposing to clarify that the HTFP does 

not apply to General Members. 

LCH SA is proposing to amend the 

CDSClear Fee Grid for 2024 as follows 

for options products: 

General Members 

i. Introductory Tariff 

LCH SA is proposing to clarify the 

Introductory Tariff floor on clearing fees 

will be charged 1/12th for each month 

a General Member Group is live. A 

footnote will be added to the Fee Grid 

to state that a General Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. LCH SA also 

proposes to clarify that there will be no 

Electronic Exercise Platform for 

exercising credit index options (‘‘EEP’’) 

usage fees in 2024, as reference to 2023 

will no longer be applicable. 

ii. Unlimited Tariff 

LCH SA is proposing to clarify the 

Unlimited Tariff annual fixed fee will be 

charged 1/12th for each month a 

Member Group is live. A footnote will 

be added to the Fee Grid to state that a 

Member is considered live for the whole 

month regardless of the go-live date or 

the membership termination date within 

the considered month. LCH SA also 

proposes to clarify that there will be no 

EEP usage fees in 2024, as reference to 

2023 will no longer be applicable. LCH 

SA also currently offers a discounted 

rate of Ö115,000 for notional cleared 

strictly above Ö15bn. LCH SA is 

proposing to clarify that it will provide 

a Ö260,000 rebate to the Clearing 

Member’s December bill if the General 

Member Group is live for the whole 

calendar year (January 1–December 31). 

iii. New Market Participant Tariff 

LCH SA is proposing to clarify that 

there will be no EEP usage fees in 2024, 

as reference to 2023 will no longer be 

applicable. LCH SA is also proposing to 

add that in-year switches are not 

permitted, in order to align with other 

General Member tariffs. 

iv. Onboarding Fees 

LCH SA is proposing to reduce its 

current onboarding fee from Ö30,000 to 

Ö15,000 per legal entity under the 

Introductory Tariff or per Financial 

Group of a Clearing Member under the 

Unlimited Tariff. LCH SA is not 

proposing any other amendments to this 

section of the Fee Grid. 

Select Members 

v. Introductory Tariff 

LCH SA is proposing to clarify that 

there will be no EEP usage fees in 2024, 

as reference to 2023 will no longer be 

applicable. LCH SA is not proposing 

any other amendments to this section of 

the Fee Grid. 

vi. Unlimited Tariff 

LCH SA is proposing to clarify that 

there will be no EEP usage fees in 2024, 

as reference to 2023 will no longer be 

applicable. LCH SA is also proposing to 

clarify the Unlimited Tariff annual fixed 

fee will be charged 1/12th for each 

month a Select Member is live. A 

footnote will be added to the Fee Grid 


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Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 4637 

9 15 U.S.C. 78q–1. 

10 15 U.S.C. 78q–1(b)(3)(D). 

11LCH SA currently assesses an onboarding fee 

of Ö15,000 for its EquityClear SA and 

CommodityClear SA services. Please see LCH SA 

onboarding fees available at: https://www.lch.com/ 

membership/sa-membership/sa-fees. 

12LCH SA currently offers this service for its 

EquityClear SA and RepoClear SA services. 

13 15 U.S.C. 78q–1(b)(3)(D). 

14 15 U.S.C. 78q–1(b)(3)(I). 

to state that a Select Member is 

considered live for the whole month 

regardless of the go-live date within the 

considered month. LCH SA also 

currently offers a discounted rate of 

Ö115,000 for notional cleared strictly 

above Ö15bn. LCH SA is proposing to 

clarify that it will provide a Ö285,000 

rebate to the Select Member’s December 

bill if the Select Member is live for the 

whole calendar year (January 1– 

December 31). 

vii. Onboarding Fees 

LCH SA is proposing to reduce its 

current onboarding fee from Ö30,000 to 

Ö15,000 per Legal Entity under the 

Introductory Tariff or per Financial 

Group of a Select Clearing Member 

under the Unlimited Tariff. LCH SA is 

not proposing any other amendments to 

this section of the Fee Grid. 

Clients 

i. Variable Fees 

LCH SA is proposing to apply the full 

discount of client variable fees to 2024, 

as 2023 will no longer be applicable. 

LCH SA is not proposing any other 

amendments to this section of the Fee 

Grid. 

LCH SA is also proposing to establish 

a fee structure for the retrieval of 

archived files. This proposed change 

will establish the fee structure currently 

applicable to LCH SA’s EquityClear and 

RepoClear services. Specifically, LCH is 

proposing to charge a fee of Ö500 for the 

first archived file retrieval and Ö250 for 

each additional archived file retrieval. 

For ancillary requests, including ad hoc 

requests related to investigations, 

analysis and data and analytics, LCH SA 

is proposing to charge a fee based on 

time spent on the request. LCH SA is 

proposing to charge Ö500 for 1⁄2 day, 

Ö1,000 for 1 day and Ö500 for each 

additional 1⁄2 day. LCH SA is also 

proposing to clarify that the charge for 

certain large requests (i.e., >50 files) will 

be provided in a quote as determined by 

LCH SA. In addition, LCH SA is also 

proposing to clarify that it will provide 

a more tailored estimate for each 

ancillary request received. To clarify, 

the proposed archived report fee 

structure is currently implemented for 

EquityClear and RepoClear, and LCH SA 

is proposing to extend to CDSClear as 

well. 

2. Statutory Basis 

LCH SA believes that the Proposed 

Rule Change is consistent with the 

requirements of section 17A of the 

Exchange Act 9 and the regulations 

thereunder applicable to LCH SA. 

section 17A(b)(3)(D) of the Act 10

requires that the rules of a clearing 

agency provide for the equitable 

allocation of reasonable dues, fees and 

other charges among its participants. 

LCH SA believes the amendments to 

the Fee Grid are reasonable given the 

changes to its CDSClear service and 

equitable for both existing and new 

Clearing Members. Specifically, the 

Proposed Rule Change reflects the 

evolution and further maturity of LCH 

SA’s CDSClear service, including the 

expansion of the CDSClear service in 

the United States and to support the 

LSOC model, and provides for 

additional clarity to existing and new 

Clearing Members. LCH SA is proposing 

to introduce an onboarding fee of 

Ö15,000 per entity beginning in 2024 to 

align with the onboarding fees assessed 

for other services of LCH SA.11 In an 

effort to further align fees assessed for 

each service, LCH SA is proposing to 

reduce the options onboarding fee from 

Ö30,000 to Ö15,000. For house accounts, 

LCH SA is proposing a single annual 

fixed fee of Ö400,000 for General 

Members’ Introductory Tariff and 

removing the Ö200,000 rebate for 

notional cleared below Ö10bn. LCH SA 

is also clarifying the application of the 

rebate pertaining to the fixed fee for 

Select Members. Specifically, a rebate of 

Ö200,000 will be applied to a Select 

Member’s December invoice, such that 

the Select Member will only pay a fixed 

fee of Ö250,000 instead of Ö450,000, 

provided that the Select Member is live 

for the whole calendar year (January 1– 

December 31) and its annual notional 

cleared is below Ö10bn. 

To provide clarity on the application 

of the fixed fee for General Members 

and Select Members for both single 

name and index CDS and options 

products, LCH SA is proposing to add 

clarifying language stating that 1/12th of 

the annual fixed fee will be charged to 

General Members Unlimited, General 

Members Introductory and Select 

Members that are live for any part of a 

calendar month. This clarification will 

address mid-year joiners and leavers. 

For client clearing, LCH SA proposes 

to institute an Intraday Trading Fee Plan 

discount, whereby only the maximum 

notional of buys and sells per contract 

per day per trade account will be 

charged and only in the case where the 

trade date and clearing date are equal. 

LCH SA also proposes to clarify that 

under its current HTFP, only chargeable 

trades will count towards HTFP 

notionals, however trades not charged 

under the Intraday Trading Fee Plan or 

the Switch Programme would not be 

included. The HTFP will also continue 

to exclude the notional cleared for 

which a CCP Switch credit note was 

used to zero out the clearing fees and 

the notional cleared part of a CCP 

Switch that thus did not attract any 

clearing fees. 

LCH SA will continue to incentivize 

market participants clearing new 

transactions at LCH SA CDSClear. 

Currently, General Members and Select 

Members and Clients can benefit from 

LCH SA’s Switch Programme by closing 

out existing CDS transactions at their 

current CDS CCP and clearing new 

transactions at LCH SA CDSClear. After 

registration, such Members will not be 

charged variable fees for new 

transactions cleared at LCH SA 

CDSClear under the Switch Programme 

during a 6-month period and a credit 

note will be applied to Members’ and 

Clients’ clearing accounts, covering the 

fees associated with closing out 

positions at another CDS CCP. The 

credit note will be applicable towards 

fees associated with future transactions 

cleared at LCH SA CDSClear. LCH SA 

is proposing to clarify that the Switch 

Programme is available to market 

participants and applicable to live CCP 

trades beginning January 4, 2024, 

onwards. 

Finally, LCH SA is proposing to 

continue the fee holiday for options 

Clients for 2024 and will continue not 

to charge for EEP usage fees in 2024 for 

options General Members, Select 

Members and Clients. LCH SA will also 

provide Members with the option to 

request archived reports and proposes to 

align the fee associated with retrieval 

and any ancillary requests thereto, with 

other LCH SA services.12 LCH SA 

therefore believes that the Proposed 

Rule Change is consistent with the 

requirements of section 17A(b)(3)(D) of 

the Act 13 in that the amendments to the 

Fee Grid for 2024 are reasonable and 

equitable among its participants. 

B. Clearing Agency’s Statement on 

Burden on Competition 

Section 17A(b)(3)(I) of the Act 14

requires that the rules of a clearing 

agency not impose any burden on 

competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. LCH SA does not 

believe that the Proposed Rule Change 


ddrumheller on DSK120RN23PROD with NOTICES1
4638 Federal Register / Vol. 89, No. 16 / Wednesday, January 24, 2024 / Notices 

15 15 U.S.C. 78s(b)(3)(A). 

16 17 CFR 240.19b–4(f)(2). 17 17 CFR 200.30–3(a)(12). 

would impose any burden on 

competition. The purpose of the 

Proposed Rule Change is for LCH SA to 

amend its Fee Grid for 2024 by 

incorporating changes to the CDSClear 

business and new clearing services 

offered to meet Clearing Members’ and 

Clients’ evolving business needs. As 

part of this effort LCH SA is proposing 

to align certain fees with other LCH SA 

service offerings, further incentivize 

competition by offering certain 

discounts and make clarifying changes 

on how fees will be calculated and 

applied. LCH SA believes the Proposed 

Rule Change would not burden any 

Clearing Members or other market 

participants given that amendments to 

the Fee Grid will be applied equally for 

all CDSClear Clearing Members and 

Clients. Therefore, LCH SA does not 

believe that the Proposed Rule Change 

would impose a burden on competition 

not necessary or appropriate in 

furtherance of the purposes of the Act. 

C. Self-Regulatory Organization’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. LCH SA will 

notify the Commission of any written 

comments received by LCH SA. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective upon filing pursuant to section 

19(b)(3)(A) 15 of the Act and paragraph 

(f) of Rule 19b–4 16 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– 

LCH SA–2024–001 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–LCH SA–2024–001. 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 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-rule-changes. 

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–LCH SA–2024–001 

and should be submitted on or before 

February 14, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–01308 Filed 1–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–777, OMB Control No. 

3235–0729] 

Proposed Collection; Comment 

Request; Extension: Form N–CEN 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736. 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission (the 

‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget for extension 

and approval. 

The title for the collection of 

information is ‘‘Form N–CEN under the 

Investment Company Act of 1940.’’ 

Form N–CEN is used to collect annual, 

census-type information for registered 

funds. Filers must submit this report 

electronically using the Commission’s 

electronic filing system ‘‘(EDGAR’’) in 

Extensible Markup Language (‘‘XML’’) 

format. The purpose of Form N–CEN is 

to satisfy the filing and disclosure 

requirements of Section 30 of the 

Investment Company Act, and of rule 

30a–1 thereunder. 

We estimate that the average annual 

hour burden to complete the generally 

applicable items on Form N–CEN 

response will be 18 hours per year. We 

estimate that the aggregate annual hour 

burden to complete the generally 

applicable items will be 59,490 hours 

per year. We therefore estimate that 

filers would have total average 

annualized paperwork related expenses 

related to complete the generally 

applicable items of $605,520 for reports 

on Form N–CEN. 

The requirements of this collection of 

information are mandatory. Responses 

will not be kept confidential. An agency 

may not conduct or sponsor, and a 

person is not required to respond to a 

collection of information unless it 

displays a currently valid control 

number. 

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 

estimate of the burden of the collection 

of information; (c) ways to enhance the 


ddrumheller on DSK120RN23PROD with NOTICES1