7070 Federal Register / Vol. 80, No. 26 / Monday, February 9, 2015 / Notices 

8 15 U.S.C. 78s(b)(3)(a)(ii). 

9 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

10 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

proposal to share those risk settings 

directly reduces the administrative 

burden on Phlx XL participants and 

ensures that clearing members are 

receiving information that is up-to-date 

and conforms to the settings active in 

the Exchange’s trading system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Phlx does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

The proposed rule change is not 

designed to address any competitive 

issues and does not pose an undue 

burden on non-clearing members 

because, unlike clearing members, nonclearing members do not guarantee the 

execution of a Phlx XL participant’s 

transactions on the Exchange. The 

proposal is structured to offer the same 

enhancement to all clearing members, 

regardless of size, and would not 

impose a competitive burden on any 

participant. Any Phlx XL participant 

that does not wish to share its 

designated risk settings with its clearing 

member could avoid sharing such 

settings by becoming a clearing member 

of OCC. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(ii) [sic] of the Act 8 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.9

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

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: 

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– 

Phlx–2015–11 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–Phlx–2015–11. 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 Web site (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 Web site 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 such 

filing also will be available for 

inspection and copying at the principal 

offices of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–Phlx– 

2015–11, and should be submitted on or 

before March 2, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–02504 Filed 2–6–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74192; File No. SR–ICC– 

2015–003] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Notice of Filing of 

Proposed Rule Change To Provide for 

the Clearance of Additional Standard 

Emerging Market Sovereign Single 

Names 

February 3, 2015. 

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 

23, 2015, ICE Clear Credit LLC (‘‘ICC’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared primarily by ICC. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule change from interested 

persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The purpose of the proposed rule 

change is to adopt rules that will 

provide the basis for ICC to clear 

additional credit default swap contracts. 

Specifically, ICC is proposing to amend 

Subchapter 26D of its rules to provide 

for the clearance of additional Standard 

Emerging Market Sovereign CDS 

contracts (collectively, ‘‘SES 

Contracts’’). 

ICC has been approved to clear eight 

SES Contracts: The Federative Republic 

of Brazil, the United Mexican States, the 

Bolivarian Republic of Venezuela, the 

Argentine Republic, the Republic of 

Turkey, the Russian Federation, the 

Republic of Hungary, and the Republic 

of South Africa. The proposed change to 

the ICC Rules would provide for the 

clearance of additional SES Contracts, 

specifically the Republic of Chile, the 

Republic of Peru, the Republic of 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 80, No. 26 / Monday, February 9, 2015 / Notices 7071 

3 15 U.S.C. 78q–1(b)(3)(F). 

4 Id. 

5 17 CFR 240.17Ad–22. 

6 17 CFR 240.17Ad–22(b)(2). 

7 17 CFR 240.17Ad–22(b)(3). 

8 17 CFR 240.17Ad–22(d)(4). 

9 17 CFR 240.17Ad–22(d)(5), (12) and (15). 

10 17 CFR 240.17Ad–22(d)(11). 

Colombia, Ukraine, and the Republic of 

Poland. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, ICC 

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. ICC has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of these statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

The purpose of the proposed rule 

change is to adopt rules that will 

provide the basis for ICC to clear 

additional credit default swap contracts. 

ICC has been approved to clear eight 

SES Contracts: The Federative Republic 

of Brazil, the United Mexican States, the 

Bolivarian Republic of Venezuela, the 

Argentine Republic, the Republic of 

Turkey, the Russian Federation, the 

Republic of Hungary, and the Republic 

of South Africa. ICC proposes amending 

Subchapter 26D of its Rules to provide 

for the clearance of additional SES 

Contracts, specifically the Republic of 

Chile, the Republic of Peru, the 

Republic of Colombia, Ukraine, and the 

Republic of Poland. These additional 

SES Contracts will be offered on the 

2014 ISDA Credit Derivatives 

Definitions. The addition of these SES 

Contracts will benefit the market for 

emerging market credit default swaps by 

providing market participants the 

benefits of clearing, including reduction 

in counterparty risk and safeguarding of 

margin assets pursuant to clearing house 

rules. Clearing of the additional SES 

Contracts will not require any changes 

to ICC’s Risk Management Framework 

or other policies and procedures 

constituting rules within the meaning of 

the Securities Exchange Act of 1934 

(‘‘Act’’). 

These additional SES Contracts have 

terms consistent with the other SES 

Contracts approved for clearing at ICC 

and governed by Subchapter 26D of the 

ICC rules, namely the Federative 

Republic of Brazil, the United Mexican 

States, the Bolivarian Republic of 

Venezuela, the Argentine Republic, the 

Republic of Turkey, the Russian 

Federation, the Republic of Hungary, 

and the Republic of South Africa. Minor 

revisions to Subchapter 26D (Standard 

Emerging Market Sovereign (‘‘SES’’) 

Single Name) are made to provide for 

clearing the additional SES Contracts 

and described as follows. 

Rule 26D–102 is modified to include 

the Republic of Chile, the Republic of 

Peru, the Republic of Colombia, 

Ukraine, and the Republic of Poland in 

the list of specific Eligible SES 

Reference Entities to be cleared by ICC. 

Section 17A(b)(3)(F) of the Act 3

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 

clearance of additional SES Contracts 

will allow market participants an 

increased ability to manage risk. ICC 

believes that acceptance of these new 

contracts, on the terms and conditions 

set out in the ICC Rules, is consistent 

with the prompt and accurate clearance 

of and settlement of securities 

transactions and derivative agreements, 

contracts and transactions cleared by 

ICC, the safeguarding of securities and 

funds in the custody or control of ICC, 

and the protection of investors and the 

public interest, within the meaning of 

Section 17A(b)(3)(F) of the Act.4

Clearing of the additional SES 

Contracts will also satisfy the 

requirements of Rule 17Ad–22.5 In 

particular, in terms of financial 

resources, ICC will apply its existing 

margin methodology to the additional 

SES Contracts. ICC believes that this 

model will provide sufficient margin to 

cover its credit exposure to its clearing 

members from clearing such contracts, 

consistent with the requirements of Rule 

17Ad–22(b)(2).6 In addition, ICC 

believes its Guaranty Fund, under its 

existing methodology, will, together 

with the required margin, provide 

sufficient financial resources to support 

the clearing of the new contracts 

consistent with the requirements of Rule 

17Ad–22(b)(3).7 ICC also believes that 

its existing operational and managerial 

resources will be sufficient for clearing 

of the additional SES Contracts, 

consistent with the requirements of Rule 

17Ad–22(d)(4),8 as the new contracts are 

similar from an operational perspective 

to existing SES Contracts. Similarly, ICC 

will use its existing settlement 

procedures and account structures for 

the new contracts, consistent with the 

requirements of Rule 17Ad–22(d)(5), 

(12) and (15) 9 as to the finality and 

accuracy of its daily settlement process 

and avoidance of the risk to ICC of 

settlement failures. Finally, ICC will 

apply its existing default management 

policies and procedures for the new 

contracts. ICC believes that these 

procedures allow for it to take timely 

action to contain losses and liquidity 

pressures and to continue meeting its 

obligations in the event of clearing 

member insolvencies or defaults in 

respect of the additional SES Contracts, 

in accordance with Rule 17Ad– 

22(d)(11).10

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The additional SES Contracts will be 

available to all ICC Participants for 

clearing. The clearing of these 

additional SES Contracts by ICC does 

not preclude the offering of the 

additional SES Contracts for clearing by 

other market participants. Accordingly, 

ICC does not believe that clearance of 

the additional SES Contracts will 

impose any 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. ICC will notify the 

Commission of any written comments 

received by ICC. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) By order approve or disapprove 

such proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be 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. 

mstockstill on DSK4VPTVN1PROD with NOTICES

7072 Federal Register / Vol. 80, No. 26 / Monday, February 9, 2015 / Notices 

11 17 CFR 200.30–3(a)(12). 

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– 

ICC–2015–003 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–ICC–2015–003. 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 Web site (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 Web site 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 such 

filings will also be available for 

inspection and copying at the principal 

office of ICE Clear Credit and on ICE 

Clear Credit’s Web site at https://

www.theice.com/clear-credit/regulation. 

All comments received will be posted 

without change; the Commission does 

not edit personal identifying 

information from submissions. You 

should submit only information that 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–ICC–2015–003 and should 

be submitted on or before March 2, 

2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–02500 Filed 2–6–15; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Railroad Administration 

[Docket No. FRA–2015–0007–N–1] 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Federal Railroad 

Administration (FRA), Department of 

Transportation (DOT). 

ACTION: Notice. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 and 

its implementing regulations, the 

Federal Railroad Administration (FRA) 

hereby announces that it is seeking 

renewal of the following currently 

approved information collection 

activities. Before submitting the 

information collection requests (ICRs) 

below for clearance by the Office of 

Management and Budget (OMB), FRA is 

soliciting public comment on specific 

aspects of the activities identified 

below. 

DATES: Comments must be received no 

later than April 10, 2015. 

ADDRESSES: Submit written comments 

on any or all of the following proposed 

activities by mail to either: Mr. Robert 

Brogan, Office of Safety, Planning and 

Evaluation Division, RRS–21, Federal 

Railroad Administration, 1200 New 

Jersey Ave. SE., Mail Stop 17, 

Washington, DC 20590, or Ms. Kimberly 

Toone, Office of Information 

Technology, RAD–20, Federal Railroad 

Administration, 1200 New Jersey Ave. 

SE., Mail Stop 35, Washington, DC 

20590. Commenters requesting FRA to 

acknowledge receipt of their respective 

comments must include a self-addressed 

stamped postcard stating, ‘‘Comments 

on OMB control number ____ .’’ 

Alternatively, comments may be 

transmitted via facsimile to (202) 493– 

6216 or (202) 493–6497, or via email to 

Mr. Brogan at Robert.Brogan@dot.gov, or 

to Ms. Toone at Kim.Toone@dot.gov. 

Please refer to the assigned OMB control 

number in any correspondence 

submitted. FRA will summarize 

comments received in response to this 

notice in a subsequent notice and 

include them in its information 

collection submission to OMB for 

approval. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Robert Brogan, Office of Planning and 

Evaluation Division, RRS–21, Federal 

Railroad Administration, 1200 New 

Jersey Ave. SE., Mail Stop 17, 

Washington, DC 20590 (telephone: (202) 

493–6292) or Ms. Kimberly Toone, 

Office of Information Technology, RAD– 

20, Federal Railroad Administration, 

1200 New Jersey Ave. SE., Mail Stop 35, 

Washington, DC 20590 (telephone: (202) 

493–6132). (These telephone numbers 

are not toll-free.) 

SUPPLEMENTARY INFORMATION: The 

Paperwork Reduction Act of 1995 

(PRA), Public Law 104–13, sec. 2, 109 

Stat. 163 (1995) (codified as revised at 

44 U.S.C. 3501–3520), and its 

implementing regulations, 5 CFR part 

1320, require Federal agencies to 

provide 60-days notice to the public for 

comment on information collection 

activities before seeking approval for 

reinstatement or renewal by OMB. 44 

U.S.C. 3506(c)(2)(A); 5 CFR 1320.8(d)(1), 

1320.10(e)(1), 1320.12(a). Specifically, 

FRA invites interested respondents to 

comment on the following summary of 

proposed information collection 

activities regarding (i) whether the 

information collection activities are 

necessary for FRA to properly execute 

its functions, including whether the 

activities will have practical utility; (ii) 

the accuracy of FRA’s estimates of the 

burden of the information collection 

activities, including the validity of the 

methodology and assumptions used to 

determine the estimates; (iii) ways for 

FRA to enhance the quality, utility, and 

clarity of the information being 

collected; and (iv) ways for FRA to 

minimize the burden of information 

collection activities on the public by 

automated, electronic, mechanical, or 

other technological collection 

techniques or other forms of information 

technology (e.g., permitting electronic 

submission of responses). See 44 U.S.C. 

3506(c)(2)(A)(i)–(iv); 5 CFR 

1320.8(d)(1)(i)–(iv). FRA believes that 

soliciting public comment will promote 

its efforts to reduce the administrative 

and paperwork burdens associated with 

the collection of information mandated 

by Federal regulations. In summary, 

FRA reasons that comments received 

will advance three objectives: (i) Reduce 

reporting burdens; (ii) ensure that it 

organizes information collection 

requirements in a ‘‘user friendly’’ format 

to improve the use of such information; 

and (iii) accurately assess the resources 

expended to retrieve and produce 

information requested. See 44 U.S.C. 

3501. 

Below is a brief summary of currently 

approved information collection 

activities that FRA will submit for 

clearance by OMB as required under the 

PRA: 

Title: Inspection and Maintenance of 

Steam Locomotives (Formerly Steam 

Locomotive Inspection). 

OMB Control Number: 2130–0505. 

Abstract: The Locomotive Boiler 

Inspection Act (LBIA) of 1911 required 

mstockstill on DSK4VPTVN1PROD with NOTICES