```

[Federal Register Volume 90, Number 12 (Tuesday, January 21, 2025)]
[Notices]
[Page 7228]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01297]

[[Page 7228]]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102191; File No. SR-LCH SA-2025-001]

Self-Regulatory Organizations; LCH SA; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Relating to the 
CDSClear Fee Grid for 2025

January 14, 2025.
    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 8, 2025, 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 Item I below, which Item has 
been substantially prepared by LCH SA. LCH SA has designated this 
proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of 
the Act \3\ and Rule 19b-4(f) thereunder.\4\ The Commission is 
publishing this notice to solicit comments on the Proposed Rule Change 
from interested persons.
---------------------------------------------------------------------------

    \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). 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. If the Commission takes such action, the 
Commission will institute proceedings to determine whether the 
proposed rule change should be approved or disapproved.
---------------------------------------------------------------------------

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 2025 (the 
``Fee Grid'') by incorporating changes in the CDSClear business and 
clearing services offered (the ``Proposed Rule Change''). The text of 
the Proposed Rule Change has been annexed [sic] as Exhibit 5 [sic] to 
File No. SR-LCH SA-2025-001.\5\
---------------------------------------------------------------------------

    \5\ All capitalized terms not defined herein have the same 
definition as in the CDS Clearing Rule Book available at https://www.lseg.com/content/dam/post-trade/en_us/documents/lch/rulebooks/lch-sa/lch-sa-cdsclear-rule-book.pdf.
---------------------------------------------------------------------------

    The implementation of the Proposed Rule Change will be contingent 
on LCH SA's receipt of all necessary regulatory approvals.
    The proposed rule change, including LCH SA's statement of the 
purpose of, and statutory basis for, the proposed rule change, is 
available on LCH SA's website at https://www.lseg.com/en/post-trade/clearing/clearing-resources/rulebooks/proposed-rule-changes#t-sa and on 
the Commission's website at https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/lchsa?file number=LCH SA-2025-001.

II. 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.\6\ Comments may be submitted 
electronically by using the Commission's internet comment form (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/lchsa?filenumber=LCHSA-2025-001) or by sending an email to [email protected]. Please include file number SR-LCH SA-2025-001 on the 
subject line. Alternatively, paper comments may be sent to Secretary, 
Securities and Exchange Commission, 100 F Street NE, Washington, DC 
20549-1090. All submissions should refer to File Number SR-LCH SA-2025-
001. 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-regulations/self-regulatory-organization-rulemaking/lchsa?filenumber=LCHSA-2025-001).
---------------------------------------------------------------------------

    \6\ 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.lseg.com/en/post-trade/clearing/clearing-resources/rulebooks/proposed-rule-changes#t-sa.
---------------------------------------------------------------------------

    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-2025-001 and 
should be submitted on or before February 11, 2025.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-01297 Filed 1-17-25; 8:45 am]
BILLING CODE 8011-01-P
```