Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 1457 

1Applicants request relief with respect to the 

named Applicants, including the Existing Fund, as 

well as to any future series of the Trust and any 

other existing or future registered open-end 

management investment company or series thereof 

that: (a) Is advised by the Adviser, its successors, 

or any entity controlling, controlled by or under 

common control with, the Adviser or its successors 

that serves as the primary adviser to a Sub-Advised 

Series (each, an ‘‘Adviser’’); (b) uses the multimanager structure described in the application; and 

(c) complies with the terms and conditions set forth 

in the application (each, a ‘‘Sub-Advised Series’’). 

For purposes of the requested order, ‘‘successor’’ is 

limited to an entity that results from a 

reorganization into another jurisdiction or a change 

in the type of business organization. 

2A ‘‘Sub-Adviser’’ for a Sub-Advised Series is (1) 

an indirect or direct ‘‘wholly-owned subsidiary’’ (as 

such term is defined in the Act) of the Adviser for 

that Sub-Advised Series, or (2) a sister company of 

the Adviser for that Sub-Advised Series that is an 

indirect or direct ‘‘wholly-owned subsidiary’’ of the 

same company that, indirectly or directly, wholly 

owns the Adviser (each of (1) and (2) a ‘‘WhollyOwned Sub-Adviser’’ and collectively, the 

‘‘Wholly-Owned Sub-Advisers’’), or (3) not an 

‘‘affiliated person’’ (as such term is defined in 

section 2(a)(3) of the Act) of the Sub-Advised 

Series, the Trust, or the Adviser, except to the 

extent that an affiliation arises solely because the 

Sub-Adviser serves as a sub-adviser to a SubAdvised Series or as an investment adviser or subadviser to any series of the Trust other than the 

Sub-Advised Series (‘‘Non-Affiliated Sub-Adviser’’). 

3The requested relief will not extend to any subadviser, other than a Wholly-Owned Sub-Adviser, 

who is an affiliated person, as defined in section 

2(a)(3) of the Act, of the Sub-Advised Series or of 

the Adviser, other than by reason of serving as a 

sub-adviser to one or more of the Sub-Advised 

Series or as an investment adviser or sub-adviser to 

any series of the Trust other than the Sub-Advised 

Series (‘‘Affiliated Sub-Adviser’’). 

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)(ii). 

(Division of Investment Management, 

Chief Counsel’s Office). 

SUPPLEMENTARY INFORMATION: The 

following is a summary of the 

application. The complete application 

may be obtained via the Commission’s 

website by searching for the file 

number, or an applicant using the 

Company name box, at http://

www.sec.gov/search/search.htm or by 

calling (202) 551–8090. 

Summary of the Application: 

1. The Adviser will serve as the 

investment adviser to each Sub-Advised 

Series pursuant to an investment 

advisory agreement with the Trust (the 

‘‘Investment Management 

Agreement’’).1 Under the terms of each 

Investment Management Agreement, the 

Adviser, subject to the supervision of 

the board of trustees of the Trust (the 

‘‘Board’’) will provide continuous 

investment management of the assets of 

each Sub-Advised Series. Consistent 

with the terms of each Investment 

Management Agreement, the Adviser 

may, subject to the approval of the 

Board, delegate portfolio management 

responsibilities of all or a portion of the 

assets of a Sub-Advised Series to one or 

more Sub-Advisers.2 The Adviser will 

continue to have overall responsibility 

for the management and investment of 

the assets of each Sub-Advised Series. 

The Adviser will evaluate, select and 

recommend Sub-Advisers to manage the 

assets of a Sub-Advised Series and will 

oversee, monitor, and review the SubAdvisers and their performance and 

recommend the removal or replacement 

of Sub-Advisers. 

2. Applicants request an order to 

permit the Adviser, subject to Board 

approval, to enter into investment subadvisory agreements with the SubAdvisers (each, a ‘‘Sub-Advisory 

Agreement’’) and materially amend such 

Sub-Advisory Agreements without 

obtaining the shareholder approval 

required under section 15(a) of the Act 

and rule 18f–2 under the Act.3

Applicants also seek an exemption from 

the Disclosure Requirements to permit a 

Sub-Advised Series to disclose (as both 

a dollar amount and a percentage of the 

Sub-Advised Series’ net assets): (a) The 

aggregate fees paid to the Adviser and 

any Wholly-Owned Sub-Adviser; (b) the 

aggregate fees paid to Non-Affiliated 

Sub-Advisers; and (c) the fee paid to 

each Affiliated Sub-Adviser 

(collectively, ‘‘Aggregate Fee 

Disclosure’’). 

3. Applicants agree that any order 

granting the requested relief will be 

subject to the terms and conditions 

stated in the application. Such terms 

and conditions provide for, among other 

safeguards, appropriate disclosure to 

Sub-Advised Series shareholders and 

notification about sub-advisory changes 

and enhanced Board oversight to protect 

the interests of the Sub-Advised Series’ 

shareholders. 

4. Section 6(c) of the Act provides that 

the Commission may exempt any 

person, security, or transaction or any 

class or classes of persons, securities, or 

transactions from any provisions of the 

Act, or any rule thereunder, if such 

relief is necessary or appropriate in the 

public interest and consistent with the 

protection of investors and purposes 

fairly intended by the policy and 

provisions of the Act. Applicants 

believe that the requested relief meets 

this standard because, as further 

explained in the application, the 

Investment Management Agreements 

will remain subject to shareholder 

approval while the role of the SubAdvisers is substantially equivalent to 

that of individual portfolio managers, so 

that requiring shareholder approval of 

Sub-Advisory Agreements would 

impose unnecessary delays and 

expenses on the Sub-Advised Series. 

Applicants believe that the requested 

relief from the Disclosure Requirements 

meets this standard because it will 

improve the Adviser’s ability to 

negotiate fees paid to the Sub-Advisers 

that are more advantageous for the SubAdvised Series. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Dated: January 5, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00242 Filed 1–10–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–93906; File No. SR–ICEEU– 

2021–026] 

Self-Regulatory Organizations; ICE 

Clear Europe Limited; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Amendments to the ICE Clear Europe 

Futures & Options Default 

Management Policy 

January 5, 2022. 

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 December 

22, 2021, ICE Clear Europe Limited 

(‘‘ICE Clear Europe’’ or the ‘‘Clearing 

House’’) 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. ICE Clear Europe filed the 

proposed rule change pursuant to 

Section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f)(4)(ii) 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 

The principal purpose of the 

proposed amendments is for ICE Clear 

Europe to modify its Futures & Options 

Default Management Policy (‘‘F&O 

Default Management Policy’’ or 

‘‘Policy’’) to make certain clarifications 

and updates. 


khammond on DSKJM1Z7X2PROD with NOTICES
1458 Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 

5The amendments to this discussion do not affect 

the existing statement, consistent with the Rules, 

that with respect to FCM/BD Clearing Members in 

default, the customer accounts are intended to be 

treated in accordance with applicable U.S. law. 

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) 

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 its F&O Default Management 

Policy to (i) further describe certain 

aspects of the background UK legal 

framework applicable to default 

management, (ii) update the 

composition of the Clearing House’s 

default management committee, (iii) 

remove as unnecessary certain 

operational steps ICE Clear Europe will 

take in order to suspend a Defaulter’s 

trading access, (iv) update and clarify 

the procedures related to hedging or 

liquidation of a Defaulter’s positions, (v) 

remove certain details around the 

auction process that are set out in other 

Clearing House documentation; (vi) 

clarify certain procedures for intragroup information sharing, (vii) revise 

the description of the Clearing House’s 

default testing, (viii) revise and remove 

certain appendices in accordance with 

the other changes made in the Policy, 

and (ix) make other various drafting 

clarifications and improvements. 

The background discussion of Points 

of Law applicable to default 

management would be revised to 

provide certain clarification and 

simplifications. Specifically, the 

amendments clarify the ability of the 

Clearing House to transfer client 

positions and collateral in an omnibus 

client account to a single solvent 

Clearing Member provided that all 

clients in the omnibus account agree to 

such transfer. The amendments would 

also clarify the benefits of legal certainty 

provided to actions taken by the 

Clearing House in accordance with its 

default rules under Part VII of the UK 

Companies Act. Other non-substantive 

drafting clarifications and grammatical 

updates would be made to improve 

readability.5 These amendments do not 

reflect a change in law but are intended 

to further clarify state the existing UK 

legal background principles. 

The section addressing the actions to 

be taken by the Clearing House 

immediately following declaration of an 

Event of Default would be updated to 

bifurcate the composition of the 

Clearing House’s internal default 

management committee to personnel 

that are always required to be present 

and personnel (or deputies) that may 

attend if required. Specifically, the 

default management committee would, 

at minimum, consist of the President, 

Head of Clearing Risk and Chief Risk 

Officer. The Chief Operating Officer or 

Head of Operations, Head of Treasury, 

Head of Legal and Head of Compliance 

may attend if required. Additionally, the 

amendments would provide that legal 

advisors or counsel to the Clearing 

House may also be present where 

required. Conforming changes would be 

made in other sections of the policy. 

The amendments would also remove 

from a statement regarding the 

segmenting of F&O Guaranty Fund 

resources in the waterfall by asset class, 

and related information. The 

construction and composition of the 

F&O Guaranty Fund is set out in the 

Rules and Procedures and existing F&O 

Guaranty Fund Policy, and the Clearing 

House does not believe it needs to be set 

out in the Policy. 

Amendments would also remove 

provisions relating to an interest rate 

swap default management committee, 

which are not used as the Clearing 

House does not clear interest rate swaps. 

Procedures for suspending the trading 

access of a defaulting Clearing Member 

would also be clarified. The 

amendments would clarify that the 

Clearing House may (but is not obligated 

to) instruct the relevant market 

surveillance department and helpdesk 

to disable trading accesses of the 

defaulter. The amendments would also 

remove certain operational details as to 

the business hours of the ICE helpdesk 

and the scope of denial of trading access 

that the Clearing House believes are 

unnecessary for the Policy. The 

amendments are not intended to reflect 

a change in practice but further describe 

document existing practice. 

In the section relating to identifying 

and hedging market exposure from the 

defaulter’s positions, amendments 

would add that the Clearing House may 

seek to delta hedge the positions 

through its Exchanges, in addition to 

conducting such hedging through 

brokers (as referenced in the current 

Policy). The amendments would also 

remove a statement that priority should 

be giving to hedging products 

contributing the greatest original margin 

requirement. ICE Clear Europe does not 

believe the limitation is necessary, as 

the hedging strategy should take into 

account the particular circumstances 

and market conditions at the time. 

Additionally, information describing the 

processes for entering positions into the 

ICE Clear Europe internal risk database 

would be removed as unnecessary 

operational detail. 

Provisions addressing the treatment of 

physically deliverable positions nearing 

expiry would be updated to clarify that 

once a default has been declared, the 

Operations Department would be 

responsible for taking control and may 

suspend delivery settlements due back 

to the Defaulter, to implement the 

Clearing House’s existing rights under 

the Rules. Amendments would also 

clarify that while the Clearing House 

may need to close out positions prior to 

the commencement of the delivery 

process, it would not necessarily be 

obligated to do so. In the Clearing 

House’s view, this change would 

provide appropriate flexibility in 

managing such positions of a defaulter. 

The section relating to liquidation of 

remaining positions would be amended 

to reference all positions (not merely 

house positions), to remove certain 

details about specific hedging strategies 

and to remove a statement as to the 

order of preference of different options. 

ICE Clear Europe believes that it is 

appropriate in default management to 

have flexibility as to the particular type 

of hedging or liquidation actions to be 

taken, in light of the nature of the 

positions and market conditions at the 

time, and accordingly it is not desirable 

to state in advance which default 

management option is preferable. 

Similarly, the Clearing House does not 

believe it is necessary to specify 

particular hedging strategies in the 

Policy; the appropriate strategy in a 

particular default scenario should be 

selected at the time. 

Amendments would also provide that 

the Clearing House default management 

committee may seek advice from third 

party traders, in addition to traders of 

non-defaulting Clearing Members, with 

respect to liquidating the positions in a 

complex trading book. The amendments 

would remove as unnecessary a 

requirement that the senior management 

team first approach representatives of 

Clearing Members on the F&O product 

risk committee for assistance. 

Certain clarifications to the Policy 

relating to the conduct of a default 


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Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 1459 

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 17 CFR 240.17Ad–22. 

10 17 CFR 240.17Ad–22(e)(3)(i). 

11 17 CFR 240.17Ad–22(e)(3)(i). 

12 17 CFR 240.17Ad–22(e)(2)(i). 

13 17 CFR 240.17Ad–22(e)(2)(v). 

14 17 CFR 240.17Ad–22(e)(2). 

auction and related auction portfolio 

disclosures would be made, including to 

be consistent with the existing 

published F&O Auction Terms. In 

particular, statements that the portfolio 

would be hedged before commencing 

the auction would be removed, as it is 

not necessary in all cases under the 

Rules or Procedures that a portfolio be 

hedged before being auctioned. 

References to Clearing Members would 

be replaced with more general 

references to auction participants, as the 

F&O Auction Terms permit 

participation by non-Clearing Members 

in certain circumstances. In line with 

the changes described above to remove 

references to the IRS Default Committee, 

information relating to the IRS Default 

Committee’s role in directing the 

auction process would be removed. A 

detailed description and example of 

bidding mechanics would be removed 

as such details are addressed in the 

published F&O Auction Terms. 

Section 10.1 (Intra-group Information 

Sharing) would be amended to remove 

certain details about coordination 

between ICE Group entities that ICE 

Clear Europe believes are unnecessary 

under the Policy. As proposed to be 

revised, the ICE Clear Europe President 

would remain responsible for notifying 

counterparts at other ICE Group entities 

where the defaulter is active in other 

relevant markets. Specific details about 

the persons to be notified, and relevant 

backup personnel, have been removed 

as unnecessary for the Policy. 

The section of the Policy relating to 

F&O default testing would be revised to 

reflect further describe current testing 

purposes and practices and make other 

enhancements. As revised, the Clearing 

House would conduct testing on an 

annual basis with compulsory 

participation of Clearing members, with 

the goal of testing the responsibilities of 

each Clearing House department, the 

systems and tools in the default 

management process and external 

parties’ preparation and understanding 

of default procedures. The amendments 

would also revise and clarify certain 

elements that comprise a default 

management test plan. As a result, 

Former Appendix A—Default Test Plan 

(Summary) would be removed as 

unnecessary given the updated 

description of default testing in the 

Policy. The subsequent appendices 

would be renumbered accordingly. 

Appendix B (Trade Procedure) 

(formerly Appendix C) would be 

updated in respect of the description of 

the frequency of certain trade tests. 

Specifically, the amendments would 

provide that Test trades would take 

place according to the Multi-Year 

Default Management Plan, instead of 

monthly or quarterly. Additionally, the 

amendments would remove an incorrect 

reference to CDS Clearing Members 

(which are not as such subject to an 

F&O policy). 

Appendix C (formerly Appendix D) 

relating to regulatory reporting would be 

replaced with a new schedule of default 

management information to be shared 

with the Bank of England under 

applicable regulations, including 

information as to actions taken prior to 

and following the default, summary of 

positions and relevant margin and 

guaranty fund contributions, and certain 

other exposures. 

Other drafting clarifications and other 

changes would be made throughout the 

Policy to make non-substantive 

typographical and other corrections, 

including replacing ‘‘Original Margin’’ 

with ‘‘Initial Margin’’ (and related 

abbreviations throughout), to conform to 

the terminology used in the Rules and 

Procedures. 

(b) Statutory Basis 

ICE Clear Europe believes that the 

proposed amendments to the F&O 

Default Management Policy 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 F&O 

Default Management Policy are 

designed to clarify and strengthen ICE 

Clear Europe’s procedures for managing 

the risk of default losses. The 

amendments would, among other 

matters, update the composition of the 

default management committee, clarify 

certain matters relating to the 

background UK legal framework for 

default management, clarify and update 

certain procedures around hedging and 

liquidation of the risk of a defaulter’s 

positions, clarify testing procedures, 

and ensure consistency with Clearing 

House Rules and Procedures, including 

those relating to auctions. Through 

better managing risks in Clearing 

Member default scenarios in this 

manner, the proposed amendments to 

the F&O Default Management Policy 

would promote the stability of the 

Clearing House and the prompt and 

accurate clearance and settlement of 

cleared contracts. The enhanced default 

risk management is therefore also 

generally consistent with the protection 

of investors and the public interest in 

the safe operation of the Clearing House. 

(ICE Clear Europe would not expect the 

amendments to affect materially the 

safeguarding of securities and funds in 

ICE Clear Europe’s custody or control or 

for which it is responsible.) 

Accordingly, the amendments satisfy 

the requirements of Section 

17A(b)(3)(F).8

The amendments to the F&O Default 

Management Policy are also consistent 

with relevant provisions of Rule 17Ad– 

22.9 Rule 17Ad–22(e)(3)(i) provides that 

‘‘[e]ach covered clearing agency shall 

establish, implement, maintain and 

enforce written policies and procedures 

reasonable designed to, as applicable [ 

. . . ] identify, measure, monitor and 

manage the range of risks that arise in 

or are borne by the covered clearing 

agency’’.10 The amendments to the F&O 

Default Management Policy are 

intended to clarify the Clearing House’s 

policies and practices that relate to 

default management, for consistency 

with relevant Rules and Procedures and 

to make various clarifications and other 

improvements. In ICE Clear Europe’s 

view, the amendments would enhance 

overall risk management, consistent 

with the requirements of Rule 17Ad– 

22(e)(3)(i).11

Rule 17Ad–22(e)(2) provides that 

‘‘[e]ach covered clearing agency shall 

establish, implement, maintain and 

enforce written policies and procedures 

reasonable designed to, as applicable [ 

. . . ] provide for governance 

arrangements that are clear and 

transparent’’ 12 and ‘‘[s]pecify clear and 

direct lines of responsibility’’.13 The 

amendments to the F&O Default 

Management Policy would clarify 

certain responsibilities of the Clearing 

House’s committees and personnel in 

relation to default management. The 

amendments would also remove unused 

provisions related to the IRS Default 

Management Committee. In ICE Clear 

Europe’s view, the amendments are 

therefore consistent with the 

requirements of Rule 17Ad–22(e)(2).14


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1460 Federal Register / Vol. 87, No. 7 / Tuesday, January 11, 2022 / Notices 

15 17 CFR 240.17Ad–22(e)(13). 

16 17 CFR 240.17Ad–22(e)(13). 

17 15 U.S.C. 78s(b)(3)(A). 

18 17 CFR 240.19b–4(f). 19 17 CFR 200.30–3(a)(12). 

In addition, ICE Clear Europe believes 

the amendments satisfy Rule 17Ad– 

22(e)(13),15 which provides that ‘‘[e]ach 

covered clearing agency shall establish, 

implement, maintain and enforce 

written policies and procedures 

reasonable designed to, as applicable [ 

. . . ] ensure that the covered clearing 

agency has the authority and 

operational capacity to take timely 

action to contain losses and liquidity 

demands and continue to meet its 

obligations by, at a minimum, requiring 

the covered clearing agency’s 

participants and, when practicable, 

other stakeholders to participate in the 

testing and review of its default 

procedures, including any close-out 

procedures, at least annually.’’ As 

discussed above, the proposed 

amendments would enhance ICE Clear 

Europe’s overall default management 

processes, including those relating to 

hedging and liquidation of the 

defaulter’s positions. In addition, the 

amendments would enhance default 

testing practices, including to provide 

explicitly for annual compulsory 

participation by Clearing Members and 

further describe the purposes of such 

testing. Other amendments would 

ensure the Policy remains consistent 

with the F&O Auction Terms. Overall, 

the amendments will thus ensure that 

the Clearing House has clear processes 

in place to manage Clearing Member 

defaults and be able to continue to meet 

the Clearing House’s obligations in 

default scenarios. The amendments 

overall strengthen ICE Clear Europe’s 

ability to contain losses in a manner 

consistent with the requirements of Rule 

17Ad–22(e)(13).16

(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 amendments 

are being adopted to update and clarify 

the Clearing House’s F&O Default 

Management Policy, which relates to the 

Clearing House’s internal processes for 

addressing risks posed by F&O Clearing 

Member defaults. The amendments do 

not change the obligations of Clearing 

Members under the Rules or Procedures. 

Accordingly, ICE Clear Europe does not 

believe the amendments would affect 

the costs of clearing, the ability of 

market participants to access clearing, 

or the market for clearing services 

generally. Although the Policy does 

state certain obligations of Clearing 

Members to participate in annual 

default testing, ICE Clear Europe 

believes this is appropriate in light of 

regulatory requirements and the 

importance of such testing to the default 

management process. Therefore, ICE 

Clear Europe does not believe the 

proposed rule change imposes any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

(C) Clearing Agency’s Statement on 

Comments on the Proposed Rule 

Change Received From Members, 

Participants or Others 

Written comments relating to the 

proposed amendments have not been 

solicited or received by ICE Clear 

Europe. ICE Clear Europe will notify the 

Commission of any written 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 17 and paragraph (f) of Rule 

19b–4 18 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 (http://www.sec.gov/ 

rules/sro.shtml) or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

ICEEU–2021–026 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–2021–026. 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 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. 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–ICEEU– 

2021–026 and should be submitted on 

or before February 1, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–00267 Filed 1–10–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–638, OMB Control No. 

3235–0687] 

Submission Collection; Comment 

Request; Extension: Rule 239 

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 


khammond on DSKJM1Z7X2PROD with NOTICES