Federal Register / Vol. 87, No. 120 / Thursday, June 23, 2022 / Notices 37539 

6 17 CFR 200.30–3(a)(57). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 94839 

(May 3, 2022), 87 FR 27679 (May 9, 2022) (SR– 

NYSE–2022–20). 

4 15 U.S.C. 78s(b)(2). 

5 15 U.S.C. 78s(b)(2). 

6 17 CFR 200.30–3(a)(57). 

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). 

disapprove the proposed rule change 

(File No. SR–NYSENAT–2022–06). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–13381 Filed 6–22–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95118; File No. SR–NYSE– 

2022–20] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Designation of a Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change 

To Modify Rule 7.31 To Add 

Subparagraph (f)(1) Regarding 

Directed Orders 

June 16, 2022. 

On April 20, 2022, New York Stock 

Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to modify Rule 7.31 (Orders and 

Modifiers) to allow member 

organizations to submit Directed Orders 

to be routed directly to an alternative 

trading system (‘‘ATS’’) specified by the 

member organization. The proposed 

rule change was published for comment 

in the Federal Register on May 9, 2022.3

The Commission has received no 

comment letters on the proposed rule 

change. 

Section 19(b)(2) of the Act 4 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding, or as to which the 

self-regulatory organization consents, 

the Commission will either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is June 23, 2022. 

The Commission is extending this 45- 

day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to issue an order approving or 

disapproving the proposed rule change, 

so that it has sufficient time to consider 

the proposed rule change. Accordingly, 

the Commission, pursuant to Section 

19(b)(2) of the Act,5 designates August 

7, 2022, as the date by which the 

Commission shall either approve or 

disapprove the proposed rule change 

(File No. SR–NYSE–2022–20). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–13384 Filed 6–22–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95120; File No. SR–ICEEU– 

2022–011] 

Self-Regulatory Organizations; ICE 

Clear Europe Limited; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Amendments 

to the ICE Clear Europe Rules 

June 16, 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 June 10, 

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)(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 

ICE Clear Europe Limited (‘‘ICE Clear 

Europe’’ or the ‘‘Clearing House’’) 

proposes to modify its Clearing Rules 

(‘‘Clearing Rules’’ or ‘‘Rules’’) to provide 

greater certainty and additional detail 

with respect to: (i) the correction of 

settlement prices in the case of certain 

external events and (ii) the cash 

settlement of transactions in lieu of 

delivery where a Clearing Member is in 

default or there are grounds for 

declaring a default in respect of a 

Clearing Member, each of the foregoing 

in respect of F&O Contracts. A copy of 

the proposed amendments is set forth in 

Exhibit 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 its Clearing Rules to provide 

greater certainty and additional detail in 

relation to (i) the scenarios where there 

is an external or other change in a 

relevant price or event which results in 

a need for the Clearing House to correct 

settlement prices; and (ii) the cash 

settlement of transactions in lieu of 

delivery where a Clearing Member is in 

default or there are grounds for 

declaring a default in respect of a 

Clearing Member. 

Determination of Settlement Price 

Futures Contracts 

Although the Exchange Delivery 

Settlement Price (‘‘EDSP’’) for a futures 

contract is generally determined based 

on data provided by the relevant 

Market, Rule 701(c) provides that in a 

number of scenarios the Clearing House 

may itself determine the Exchange 

Delivery Settlement Price. The 

amendments would add the cases of 

Force Majeure Event, Illegality or 

Impossibility as circumstances in which 

the Clearing House could take such 


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