Federal Register / Vol. 86, No. 174 / Monday, September 13, 2021 / Notices 50917 

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. 

15 17 CFR 200.30–3(a)(12). 

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). 

5Capitalized terms used but not defined herein 

have the meaning specified in the ICE Clear Europe 

Clearing Rules (the ‘‘Rules’’). 

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 shall institute proceedings 

to determine whether the proposed rule 

change 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– 

NYSEArca–2021–75 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–NYSEArca–2021–75. 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 the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. 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–NYSEArca–2021–75, and 

should be submitted on or before 

October 4, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–19612 Filed 9–10–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92883; File No. SR–ICEEU– 

2021–016] 

Self-Regulatory Organizations; ICE 

Clear Europe Limited; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Amendments to Part EE of Its Delivery 

Procedures 

September 7, 2021. 

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 August 

23, 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) 4 thereunder, such that 

the proposed rule 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 make certain amendments to 

Part EE of its Delivery Procedures to add 

provisions relating to delivery of an 

additional contract, the ICE Endex 

Austrian Central European Gas Hub AG 

(‘‘CEGH’’) Virtual Trading Point 

(‘‘VTP’’) Natural Gas Daily Futures 

(‘‘ICE Endex VTP Natural Gas Daily 

Futures’’), that will be traded on the ICE 

Endex exchange and cleared at ICE 

Clear Europe. The amendments also 

propose to correct the name of the ICE 

Endex CEGH Austrian VTP Natural Gas 

Futures to ICE Endex Austrian CEGH 

VTP Natural Gas Futures (‘‘ICE Endex 

VTP Natural Gas Futures’’) and make 

certain corresponding updates 

throughout Part EE.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 

ICE Clear Europe is proposing to 

amend Part EE of its Delivery 

Procedures to add provisions relating to 

delivery of an additional contract, the 

ICE Endex Austrian CEGH VTP Natural 

Gas Daily Futures (‘‘ICE Endex VTP 

Natural Gas Daily Futures’’), that will be 

traded on the ICE Endex exchange and 

cleared at ICE Clear Europe. The 

proposed amendments also correct the 

name of the ICE Endex CEGH Austrian 

VTP Natural Gas Futures to ICE Endex 

Austrian CEGH VTP Natural Gas 

Futures (‘‘ICE Endex VTP Natural Gas 

Futures’’) and make certain 

corresponding updates throughout Part 

EE. 

Proposed amendments to Part EE 

would set out the delivery specifications 

and procedures for deliveries under the 

Contract. Delivery would be effected by 

the transfer of rights to natural gas at the 

VTP from a Transferor (nominated by 

the Seller and which may be the Seller) 

to the Clearing House and from the 

Clearing House (via its nomination 


lotter on DSK11XQN23PROD with NOTICES1
50918 Federal Register / Vol. 86, No. 174 / Monday, September 13, 2021 / Notices 

6 15 U.S.C. 78q–1(b)(3)(F). 

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(e)(10). 

agent) to a Transferee (nominated by the 

Buyer and which may be the Buyer) 

through the input of Trade Nominations 

into the CEGH electronic system. Under 

Part EE, Clearing Members would 

authorize the Clearing House to make 

Trade Nominations on their behalf. The 

amendments would also establish 

certain timing requirements for 

exchange of futures for physical and 

swap transactions under exchange rules. 

Proposed amendments to Part EE 

would address certain the 

responsibilities of the Clearing House 

and relevant parties for delivery under 

the Contracts, supplementing the 

existing provisions of the Rules. 

Specifically, the Clearing House would 

not be responsible for the performance 

of CEGH. Further, neither the Buyer nor 

the Seller, nor their Transferees or 

Transferors, would have any claim 

against the Clearing House for any loss 

incurred as a result of the condition or 

operation of the Transmission Network 

unless provided in the ICE Endex Rules. 

A definition of ‘‘ICE Endex VTP 

Natural Gas Daily Futures’’ is being 

proposed. Where applicable, 

amendments will be made throughout 

Part EE to apply to the ICE Endex VTP 

Natural Gas Daily Futures in addition to 

ICE Endex VTP Natural Gas Futures. 

The existing defined term ‘‘ICE Endex 

VTP Natural Gas’’ is being proposed to 

be changed to ‘‘ICE Endex VTP Natural 

Gas Futures’’ for clarity and to 

distinguish that contract from the new 

daily futures contract. Various other 

corrections to the use of defined terms 

and other typographical and similar 

corrections are also being proposed. 

Section 3.4 (which describes the price 

of the Contracts) is being proposed to be 

amended to provide that the price at 

which the Contract is delivered is the 

Exchange Delivery Settlement Price for 

the Delivery Day of each of the ICE 

Endex VTP Natural Gas Futures or ICE 

Endex Natural Gas Daily Futures in 

accordance with the ICE Endex Rules 

(instead of the Business Day 

immediately prior to the calendar day 

on which the Delivery Month for the 

ICE Endex VTP Natural Gas Futures 

commences). This change is intended to 

update the Delivery Procedures to 

reflect current practice with respect to 

the ICE Endex VTP Natural Gas Futures. 

Section 3.6 (which describes cessation 

of trading) is being proposed to be 

revised so that such procedures apply to 

ICE Endex VTP Natural Gas Daily 

Futures in addition to ICE Endex VTP 

Natural Gas Futures. The description of 

the cessation of trading is also being 

proposed to be revised to clarify that it 

is consistent with the ICE Endex Rules. 

The ICE Endex VTP Natural Gas Daily 

Futures ceases trading one business day 

prior to the Delivery Day. 

Section 3.7 (which describes the 

Exchange for Physicals (EFPs) and 

Exchange for Swaps (EFSs)) is being 

proposed to be amended to specify that 

ICE Endex VTP Natural Gas Daily 

Futures, EFPs and EFSs may be posted 

up to thirty minutes following the 

cessation of trading in accordance with 

ICE Endex Rules. 

In Section 6 Delivery Timetable, an 

outdated reference to ICE Endex 

Austrian VTP Natural Cas Futures is 

being proposed to be updated to ICE 

Endex VTP Natural Gas Futures. 

A new Section 8 is being proposed to 

be added which includes a routine 

delivery timetable, from the last trading 

day of the Contract through final 

settlement, for ICE Endex VTP Natural 

Gas Daily Futures. The timetable 

specifies procedures, deadlines and 

requirements submissions of delivery 

intentions, nominations of Transferors 

or Transferees, Conversion and 

Confirmation Reports, notification files 

to the nomination agent, provision of 

Buyer’s and Seller’s security, final 

confirmation of the delivery report, 

release of Seller’s security and Buyer’s 

top-up following completion of 

delivery, payment and invoicing. 

A new Section 9 is being proposed to 

be added which includes a delivery 

timetable for failed delivery for ICE 

Endex VTP Natural Gas Daily Futures. 

The timetable specifies the procedures 

and timing with respect to calling and 

releasing additional Seller’s Security 

and/or Buyer’s Security and invoicing, 

payment and receipt of failed deliveries. 

A note is also added that, in the event 

of a failed delivery, the Clearing House 

may retain Buyer’s Security and/or 

Seller’s Security. 

A new Section 11.2 is being proposed 

to be added that provides a delivery 

documentation summary with respect to 

ICE Endex VTP Natural Gas Daily 

Futures. The timetable specifies the 

reports produced by the Clearing House 

and made available to Buyers and 

Sellers electronically, an explanation of 

each such report, and when each such 

report is made available. A note is also 

added that provides that such timetable 

may be altered at the discretion of the 

Clearing House. 

(b) Statutory Basis 

Section 17A(b)(3)(F) of the Act 6

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 

amendments are designed to facilitate 

the clearing of a new physically settled 

natural gas futures contract that is being 

launched for trading by the ICE Endex 

exchange. The amendments would set 

out the obligations and roles of Clearing 

Members and the Clearing House. ICE 

Clear Europe believes that its financial 

resources, risk management, systems 

and operational arrangements are 

sufficient to support clearing of such 

contract (and to address physical 

delivery under such contract) and to 

manage the risks associated with such 

contract. As a result, in ICE Clear 

Europe’s view, the amendments would 

be consistent with the prompt and 

accurate clearance and settlement of the 

Contract as set out in the proposed 

Delivery Procedures amendments, and 

the protection of investors and the 

public interest consistent with the 

requirements of Section 17A(b)(3)(F) of 

the Act.7 (In ICE Clear Europe’s view, 

the amendments would not affect the 

safeguarding of funds or securities in 

the custody or control of the clearing 

agency or for which it is responsible, 

within the meaning of Section 

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

In addition, Rule 17Ad–22(e)(10) 9

requires that each covered clearing 

agency establish and maintain 

transparent written standards that state 

its obligations with respect to the 

delivery of physical instruments, and 

establish and maintain operational 

practices that identify, monitor and 

manage the risks associated with such 

physical deliveries. As discussed above, 

the amendments to the Delivery 

Procedures relating to the delivery and 

settlement under the Contract and ICE 

Endex exchange contract terms would 

set out the obligations and roles of 

Clearing Members, the Clearing House 

and the Central European Gas Hub 

(‘‘CEGH’’). The amendments would also 

adopt relevant procedures for such 

deliveries, which would facilitate 

identifying, monitoring and managing 

risks associated with delivery. 

(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 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 174 / Monday, September 13, 2021 / Notices 50919 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. The changes are 

being proposed in order to update the 

Delivery Procedures in connection with 

the listing of the Contract for trading on 

the ICE Endex market. ICE Clear Europe 

believes that such contracts would 

provide opportunities for interested 

market participants to engage in trading 

activity in the Austrian VTP Natural Gas 

market. ICE Clear Europe does not 

believe the amendments would 

adversely affect competition among 

Clearing Members, materially affect the 

cost of clearing, adversely affect access 

to clearing in Contracts for Clearing 

Members or their customers, or 

otherwise adversely affect competition 

in clearing services. Accordingly, ICE 

Clear Europe does not believe that the 

amendments would impose any impact 

or burden on competition that is not 

appropriate in furtherance of the 

purpose 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. 

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 and paragraph (f) of Rule 

19b–4 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. 

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. 

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–2021–016 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–2021–016. 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–2021–016 

and should be submitted on or before 

October 4, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–19611 Filed 9–10–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92892; File No. SR– 

CboeEDGX–2021–038] 

Self-Regulatory Organizations; Cboe 

EDGX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend its 

Fee Schedule 

September 7, 2021. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on 

September 1, 2021, Cboe EDGX 

Exchange, Inc. (the ‘‘Exchange’’ or 

‘‘EDGX’’) filed with the Securities and 

Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe EDGX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGX’’ or ‘‘EDGX 

Equities’’) proposes to amend its Fee 

Schedule. The text of the proposed rule 

change is provided in Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

options/regulation/rule_filings/edgx/) 

[sic], at the Exchange’s Office of the 

Secretary, 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 below. The 

Exchange has prepared summaries, set 

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

the most significant aspects of such 

statements. 


lotter on DSK11XQN23PROD with NOTICES1