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[Federal Register Volume 90, Number 18 (Wednesday, January 29, 2025)]
[Notices]
[Pages 8416-8417]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01852]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102271; File No. SR-FICC-2025-001]

Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
To Revise the Voluntary Withdrawal Provisions of the Rules

January 23, 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 13, 2025, Fixed Income Clearing Corporation (``FICC'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Item I, which Item has been 
prepared by the clearing agency. FICC filed the proposed rule change 
pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6) 
thereunder.\4\ The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \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)(6).
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I. Clearing Agency's Statement of the Terms of Substance of the 
Proposed Rule Change

    The proposed rule change of FICC consists of modifications to 
FICC's Mortgage-Backed Securities Division (``MBSD'') EPN Rules (the 
``EPN Rules'') and FICC's Government Securities Division (``GSD'') 
Rulebook (the ``GSD Rules'' and together with the EPN Rules, the 
``Rules,'') \5\ to revise the voluntary withdrawal provisions of the 
Rules in order to provide that a EPN User or CCIT Member may be deemed 
to have voluntarily withdrawn as a user or terminated its membership, 
if FICC is unable to contact the EPN User or CCIT Member using the last 
known contacts and the EPN User or CCIT Member has not used FICC's 
services for at least 6 months.
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    \5\ Capitalized terms not defined herein are defined in the EPN 
Rules or the GSD Rules, available at www.dtcc.com/legal/rules-and-procedures.
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    The proposed rule change, including the Clearing Agency's statement 
of the purpose of, and statutory basis for, the proposed rule change, 
is available on the Clearing Agency's website at https://www.dtcc.com/legal/sec-rule-filings and on the Commission's website at https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/FICC?file_number=SR-FICC-2025-001.

II. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The Clearing Agency has filed the proposed rule change pursuant to 
Section 19(b)(3)(A) of the Act \6\ and Rule 19b-4(f)(6) \7\ thereunder. 
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; or (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) of the Act \8\ and Rule 19b-4(f)(6) \9\ thereunder.
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    \6\ 15 U.S.C. 78(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(6).
    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Clearing Agency to give the Commission written notice 
of its intent to file the proposed rule change, along with a brief 
description and text of 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 
Clearing Agency has satisfied this requirement.
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III. 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.\10\ Comments may be submitted 
electronically by using the Commission's internet comment form (https:/
/www.sec.gov/rules-regulations/self-regulatory-organization-

[[Page 8417]]

rulemaking/FICC?file_number=SR-FICC-2025-001) or by sending an email to 
[email protected]. Please include file number SR-FICC-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-FICC-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/FICC?file_number=SR-FICC-2025-001). 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-FICC-2025-001 and should be submitted on or 
before February 19, 2025.
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    \10\ 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 SRO.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-01852 Filed 1-28-25; 8:45 am]
BILLING CODE 8011-01-P
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