Federal Register / Vol. 87, No. 38 / Friday, February 25, 2022 / Notices 10835 

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). 

5Capitalized terms used but not defined herein 

have the meanings specified in the ICE Clear 

Europe Clearing Rules. 

survey for the Federal Employees Health 

Benefits (FEHB) Program. CAHPS®

surveys ask consumers and patients to 

report on and evaluate their experiences 

with health care. These surveys cover 

topics that are important to consumers 

and focus on aspects of quality that 

consumers are best qualified to assess, 

such as the communication skills of 

providers and ease of access to health 

care services. 

DATES: Comments are encouraged and 

will be accepted until April 26, 2022. 

This process is conducted in accordance 

with 5 CFR 1320.1. 

ADDRESSES: You may submit comments 

by the following method: 

• Federal Rulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

All submissions received must include 

the agency name and docket number or 

RIN for this document. The general 

policy for comments and other 

submissions from members of the public 

is to make these submissions available 

for public viewing at http://

www.regulations.gov as they are 

received without change, including any 

personal identifiers or contact 

information. 

FOR FURTHER INFORMATION CONTACT: A 

copy of this ICR, with applicable 

supporting documentation, may be 

obtained by contacting the Office of 

Personnel Management, 1900 E Street 

NW, Washington, DC 20415, Attention: 

Michael Kaszynski, Senior Policy 

Analyst at Michael.kaszynski@opm.gov; 

202–606–1413. 

SUPPLEMENTARY INFORMATION: As 

required by the Paperwork Reduction 

Act of 1995, (Pub. L. 104–13, 44 U.S.C. 

chapter 35) as amended by the ClingerCohen Act (Pub. L. 104–106), OPM is 

soliciting comments for this collection. 

The Office of Management and Budget 

is particularly interested in comments 

that: 

1. Evaluate whether the proposed 

collection of information is necessary 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

2. Evaluate the accuracy of the 

agency’s estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

3. Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

4. Minimize the burden of the 

collection of information on those who 

are to respond, including through the 

use of appropriate automated, 

electronic, mechanical, or other 

technological collection techniques or 

other forms of information technology, 

e.g., permitting electronic submissions 

of responses. 

Program Description 

OPM uses the CAHPS results as part 

of the FEHB Plan Performance 

Assessment (PPA). The PPA enables a 

consistent, objective evaluation of 

carrier performance and also provides 

more transparency for enrollees. This 

assessment uses a discrete set of 

quantifiable measures to examine key 

aspects of performance in the areas of 

clinical quality, customer service and 

resource use. Eight CAHPS measures are 

part of this discrete set of quantifiable 

measures. 

Taken together with more traditional 

assessments of contract administration, 

these measures help ensure that 

enrollees receive high quality affordable 

healthcare and a positive customer 

experience. The PPA is linked to carrier 

profit and adjustment factors. FEHB 

contracts include language to 

incorporate the PPA as a determinant of 

the Service Charge or Performance 

Adjustment. 

Analysis 

Agency: Healthcare and Insurance, 

Office of Personnel Management. 

Authority: 5 U.S.C. 8910. 

Title: CAHPS Survey. 

OMB Number: 3206–0274. 

Frequency: Annually. 

Affected Public: Federal Employees 

and Retirees. 

Number of Respondents: 73,505. 

Estimated Time per Respondent: 15 

minutes. 

Total Burden Hours: 18,376 hours. 

Kellie Cosgrove Riley, 

Director, Office of Privacy and Information 

Management. 

[FR Doc. 2022–04054 Filed 2–24–22; 8:45 am] 

BILLING CODE 6325–64–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94281; File No. SR–ICEEU– 

2022–005] 

Self-Regulatory Organizations; ICE 

Clear Europe Limited; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Amendments to the Rate of Return on 

Euro and Pound Sterling Cash Margin 

and Guaranty Fund Deposits 

February 18, 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 February 

15, 2022, 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)(2) 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 amend the rate of return paid 

by the Clearing House on Euro (‘‘EUR’’) 

and Pound Sterling (‘‘GBP’’) cash 

margin and Guaranty Fund deposits. 

The proposed amendments do not 

involve any changes to the ICE Clear 

Europe Clearing Rules or Procedures.5

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 

(a) The purpose of the proposed rule 

changes is for ICE Clear Europe to [sic] 

its rate of return paid on EUR and GBP 

cash margin and Guaranty Fund 

deposits applicable to all Clearing 

Members for house and customer 

accounts. ICE Clear Europe pays a rate 

of return on cash deposited by Clearing 


lotter on DSK11XQN23PROD with NOTICES1
10836 Federal Register / Vol. 87, No. 38 / Friday, February 25, 2022 / Notices 

6 15 U.S.C. 78q–1. 

7 15 U.S.C. 78q–1(b)(3)(D). 

8 15 U.S.C. 78q–1(b)(3)(D). 

9 15 U.S.C. 78q–1(b)(3)(F). 

10 15 U.S.C. 78q–1(b)(3)(F). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(2). 

Members in respect of margin and 

Guaranty Fund requirements referred to 

as the ICE Deposit Rate (the ‘‘IDR’’). The 

IDR is calculated daily and applied to 

cash balances held at the close of 

business on the previous business day 

in respect of US Dollar (‘‘USD’’), EUR 

and GBP deposits. The IDR is calculated 

as the net income earned on cash 

deposits in the relevant currency 

(positive or negative) less a charge or 

spread. Currently, the spread for all 

currencies is 15 bps. 

(b) ICE Clear Europe is proposing to 

increase the spread for EUR balances 

from 15 bps to 25 bps and reduce the 

spread for GBP balances from 15 bps to 

12 bps. The spread for USD balances 

would remain unchanged at 15 bps. ICE 

Clear Europe has determined that in 

light of financial market conditions, 

including repo rates available in the 

market, the current spread levels have 

provided an incentive for Clearing 

Members to provide EUR balances as 

compared to GBP balances, including by 

using EUR balances to cover margin 

obligations denominated in GBP. Such a 

practice by Clearing Members could 

result in reduced available liquidity for 

the Clearing House in GBP. To avoid 

such potential concerns, ICE Clear 

Europe believes it is appropriate to 

reduce the IDR on EUR balances 

(through a higher spread) while 

comparatively increasing the IDR on 

GBP balances (through a lower spread). 

ICE Clear Europe believes the change 

would better align the relative costs and 

benefits of using EUR and GBP to cover 

margin and Guaranty Fund obligations 

and thereby improve Clearing House 

liquidity management. 

(b) Statutory Basis 

ICE Clear Europe believes that the 

proposed rule changes are consistent 

with the requirements of the Act, 

including Section 17A of the Act 6 and 

regulations thereunder applicable to it. 

In particular, Section 17A(b)(3)(D) of the 

Act 7 requires that ‘‘[t]he rules of the 

clearing agency provide for the 

equitable allocation of reasonable dues, 

fees and other charges among its 

participants’’. ICE Clear Europe believes 

that the IDR, as proposed to be 

amended, would be reasonable and 

appropriate in light of market 

conditions, including available repo 

rates, for the relevant currencies. The 

proposed modifications would apply to 

all Clearing Members and other market 

participants who hold cash balances in 

EUR and GBP. Further, ICE Clear 

Europe has determined that the revised 

spreads would enhance GBP liquidity 

by providing a greater incentive for 

Clearing Members to provide GBP 

balance to satisfy GBP margin and 

Guaranty Fund obligations as compared 

to EUR balances. As such, in ICE Clear 

Europe’s view, the amendments are 

consistent with the equitable allocation 

of reasonable dues, fees and other 

charges among its Clearing Members 

and other market participants, within 

the meaning of Section 17A(b)(3)(D) of 

the Act.8

The proposed amendments are also 

consistent with the requirements of 

Section 17A(b)(3)(F) of the Act 9 which 

requires, among other things, that ‘‘[t]he 

rules of a clearing agency [. . .] are not 

designed to permit unfair 

discrimination in the admission of 

participants or among participants in 

the use of the clearing agency’’. As 

noted above, the GBP and EUR spreads, 

as proposed to be amended, would 

apply on a currency level and would 

apply to all Clearing Members. The 

amendments would not otherwise 

change the ability of Clearing Members 

to post GBP and EUR in satisfaction of 

their obligations. As a result, the 

amendments would not result in any 

unfair discrimination among Clearing 

Members in their use of the Clearing 

House, within the meaning of Section 

17A(b)(3)(F) of the Act.10

(B) Clearing Agency’s Statement on 

Burden on Competition 

ICE Clear Europe does not believe the 

proposed rule changes would have any 

impact, or impose any burden, on 

competition not necessary or 

appropriate in furtherance of the 

purpose of the Act. Although ICE Clear 

Europe is revising certain spreads 

applied to the IDR, as set forth herein, 

it believes such changes are appropriate 

to align incentives for providing EUR 

and GBP deposits with general market 

conditions and to avoid potential 

reductions in GBP liquidity. Further, as 

discussed above, the changes to the 

spreads would be applied equally to all 

Clearing Members who deposit cash 

balances in EUR and GBP. ICE Clear 

Europe does not believe that the 

amendments would adversely affect the 

ability of such Clearing Members or 

other market participants generally to 

access clearing services. Further, ICE 

Clear Europe believes that the 

amendments would not otherwise affect 

competition among Clearing Members, 

adversely affect the market for clearing 

services or limit market participants’ 

choices for obtaining clearing services. 

As a result, ICE Clear Europe does not 

believe the amendments would have 

any impact or impose 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 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 11 and paragraph (f)(2) of Rule 

19b–4 12 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–2022–005 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–2022–005. 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 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 38 / Friday, February 25, 2022 / Notices 10837 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The term ‘‘Trading Permit’’ means a permit 

issued by the Exchange that confers the ability to 

transact on the Exchange. See Exchange Rule 100. 

4The term ‘‘Member’’ means an individual or 

organization that is registered with the Exchange 

pursuant to Chapter II of Exchange Rules for 

purposes of trading on the Exchange as an 

‘‘Electronic Exchange Member’’ or ‘‘Market Maker.’’ 

Members are deemed ‘‘members’’ under the 

Exchange Act. See Exchange Rule 100 and the 

Definitions Section of the Fee Schedule. 

5See Securities Exchange Act Release No. 92366 

(July 9, 2021), 86 FR 37379 (SR–PEARL–2021–32). 

6See id. 

7See Letter from Richard J. McDonald, 

Susquehanna International Group, LLC (‘‘SIG’’), to 

Vanessa Countryman, Secretary, Commission, dated 

September 28, 2021 (‘‘SIG Letter’’). 

8See Securities Exchange Act Release No. 92797 

(August 27, 2021), 86 FR 49399 (September 2, 

2021). 

9See Securities Exchange Act Release No. 93555 

(November 10, 2021), 86 FR 64254 (November 17, 

2021) (SR–PEARL–2021–54). 

10See id. 

11Securities Exchange Act Release No. 93895 

(January 4, 2022), 87 FR 1217 (January 10, 2022) 

(SR–PEARL–2021–59). 

12 Id. 

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–2022–005 

and should be submitted on or before 

March 18, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–03961 Filed 2–24–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94287; File No. SR– 

PEARL–2022–05] 

Self-Regulatory Organizations; MIAX 

PEARL LLC; Notice of Filing of a 

Proposed Rule Change To Amend the 

MIAX PEARL Options Fee Schedule To 

Remove Certain Credits and Increase 

Trading Permit Fees; Suspension of 

and Order Instituting Proceedings To 

Determine Whether To Approve or 

Disapprove the Proposed Rule Change 

February 18, 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 February 

15, 2022, MIAX PEARL, LLC (‘‘MIAX 

Pearl’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

as described in Items I and II below, 

which Items have been prepared by the 

Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons and is, pursuant 

to Section 19(b)(3)(C) of the Act, hereby: 

(i) Temporarily suspending the rule 

change; and (ii) instituting proceedings 

to determine whether to approve or 

disapprove the proposed rule change. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange is filing a proposal to 

amend the MIAX Pearl Options Fee 

Schedule (the ‘‘Fee Schedule’’) to 

remove certain credits and amend the 

monthly Trading Permit 3 fees for 

Exchange Members.4

The text of the proposed rule change 

is available on the Exchange’s website at 

http://www.miaxoptions.com/rulefilings/pearl at MIAX Pearl’s principal 

office, and at the Commission’s Public 

Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange 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 [sic] below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Fee Schedule to remove certain credits 

and amend the monthly Trading Permit 

fees (the ‘‘Proposed Access Fees’’) for 

Exchange Members. The Exchange 

initially filed this proposal on July 1, 

2021, with the proposed fee changes 

being immediately effective (‘‘First 

Proposed Rule Change’’).5 The First 

Proposed Rule Change was published 

for comment in the Federal Register on 

July 15, 2021.6 The Commission 

received one comment letter on the First 

Proposed Rule Change 7 and 

subsequently suspended the Frist [sic] 

Proposed Rule Change on August 27, 

2021.8 The Exchange withdrew First 

Proposed Rule Change on October 12, 

2021 and re-submitted the proposal on 

October 29, 2021, with the proposed fee 

changes being effective beginning 

November 1, 2021 (‘‘Second Proposed 

Rule Change’’).9 The Second Proposed 

Rule Change provided additional 

justification for the proposed fee 

changes and addressed certain points 

raised in the single comment letter that 

was submitted on the First Proposed 

Rule Change. The Second Proposed 

Rule Change was published for 

comment in the Federal Register on 

November 17, 2021.10 The Commission 

received no comment letters on the 

Second Proposed Rule Change. 

Nonetheless, the Exchange withdrew 

the Second Proposed Rule Change on 

December 20, 2021 and submitted a 

revised proposal for immediate 

effectiveness (‘‘Third Proposed Rule 

Change’’).11 The Third Proposed Rule 

Change was published for comment in 

the Federal Register on January 10, 

2022.12 The Third Proposed Rule 

Change meaningfully attempted to 

provide additional justification and 

explanation for the proposed fee 

changes, directly respond to the points 

raised in the single comment letter 

submitted on the First Proposed Rule 

Change, and respond to feedback 

provided by Commission Staff during a 

telephone conversation on November 

18, 2021 relating to the Second 

Proposed Rule Change. Although the 

Commission again did not receive any 

comment letters on the Third Proposed 


lotter on DSK11XQN23PROD with NOTICES1