32076 Federal Register / Vol. 86, No. 114 / Wednesday, June 16, 2021 / Notices 

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

2 17 CFR 240.19b–4. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: June 16, 

2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on June 10, 2021, 

it filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Express Contract 89 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–100, CP2021–103. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–12642 Filed 6–15–21; 8:45 am] 

BILLING CODE 7710–12–P 

POSTAL SERVICE 

Product Change—Priority Mail 

Negotiated Service Agreement 

AGENCY: Postal ServiceTM. 

ACTION: Notice. 

SUMMARY: The Postal Service gives 

notice of filing a request with the Postal 

Regulatory Commission to add a 

domestic shipping services contract to 

the list of Negotiated Service 

Agreements in the Mail Classification 

Schedule’s Competitive Products List. 

DATES: Date of required notice: June 16, 

2021. 

FOR FURTHER INFORMATION CONTACT: 

Sean Robinson, 202–268–8405. 

SUPPLEMENTARY INFORMATION: The 

United States Postal Service® hereby 

gives notice that, pursuant to 39 U.S.C. 

3642 and 3632(b)(3), on June 2, 2021, it 

filed with the Postal Regulatory 

Commission a USPS Request to Add 

Priority Mail Contract 704 to 

Competitive Product List. Documents 

are available at www.prc.gov, Docket 

Nos. MC2021–96, CP2021–99. 

Sean Robinson, 

Attorney, Corporate and Postal Business Law. 

[FR Doc. 2021–12651 Filed 6–15–21; 8:45 am] 

BILLING CODE 7710–12–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–205; OMB Control No. 

3235–0194] 

Proposed Collection; Comment 

Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Rule 24b–1 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 24b–1 (17 CFR 

240.24b–1) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.). The Commission plans to submit 

this existing collection of information to 

the Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

Rule 24b–1 requires a national 

securities exchange to keep and make 

available for public inspection a copy of 

its registration statement and exhibits 

filed with the Commission, along with 

any amendments thereto. 

There are 24 national securities 

exchanges that spend approximately 

one-half hour each per year complying 

with this rule, for an aggregate total time 

burden of approximately 12 hours per 

year. The staff estimates that the average 

cost per respondent is approximately 

$65.18 per year ($13.97 for copying plus 

$51.21 for storage), resulting in a total 

cost burden for all respondents of 

approximately $1,564 per year. 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Cynthia 

Roscoe, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: June 10, 2021. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–12657 Filed 6–15–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92149; File No. SR– 

CboeBYX–2021–013] 

Self-Regulatory Organizations; Cboe 

BYX Exchange, Inc.; Notice of Filing of 

a Proposed Rule Change To Introduce 

a New Data Product To Be Known as 

Short Sale Volume Data 

June 10, 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 May 28, 

2021, Cboe BYX Exchange, Inc. (the 

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

Securities and Exchange Commission 

(the ‘‘Commission’’) the 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe BYX Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BYX’’) is filing with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

to introduce a new data product to be 

known as Short Sale Volume data. 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/ 

equities/regulation/rule_filings/byx/), at 

the Exchange’s Office of the Secretary, 

and at the Commission’s Public 

Reference Room. 


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Federal Register / Vol. 86, No. 114 / Wednesday, June 16, 2021 / Notices 32077 

3The Exchange intends to submit a separate rule 

filing to establish fees for Short Sale Volume data. 

4See Exchange Rule 1.5(r). 

5See Exchange Rule 1.5(w). 

6See Exchange Rule 1.5(c). 

7Session information will only be available in 

data after July 31, 2020. 

8Historical data will be available on an ad hoc 

basis. 

9See the Nasdaq Daily Short Sale Volume files at 

https://nasdaqtrader.com/ 

Trader.aspx?id=shortsale. See also the NYSE TAQ 

Group Short Sales and Short Volume at https://

www.nyse.com/market-data/historical/taq-nysegroup-short-sales. 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(5). 

12 Id. 

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. 

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 

Rule 11.22(f) to provide for a new data 

product to be known as Short Sale 

Volume data. The proposal introduces 

Short Sale Volume data that will be 

available for purchase to BYX Members 

(‘‘Members’’) and non-Members.3 The 

proposal is similar to products offered 

by the New York Stock Exchange LLC 

(‘‘NYSE’’) and the Nasdaq Stock Market 

LLC (‘‘Nasdaq’’) which provide short 

sale volume information. 

A description of each market data 

product offered by the Exchange is 

described in Exchange Rule 11.22. The 

Exchange proposes to amend Rule 

11.22(f) to introduce and add a 

description of the Short Sale Volume 

data product. The Exchange proposes to 

describe the Short Sale Volume data as 

‘‘a data product that summarizes short 

sale volume (shares traded on BYX). 

Short Sale Volume data is available on 

an end-of-day and intraday basis.’’ 

The Exchange proposes to offer Short 

Sale Volume data on an end-of-day and 

intraday basis which will be available 

for purchase by Members and nonMembers. Specifically, the Exchange 

proposes to offer an end-of-day short 

sale volume report that includes the 

date, session (i.e., Pre-Opening Session,4

Regular Trading Hours,5 or After Hours 

Trading Session 6),7 symbol, trade 

count, buy and sell volume, type of sale 

(i.e., sell, sell short, or sell short 

exempt), capacity (i.e., principal, agent, 

or riskless principal), and retail order 

indicator. The end-of-day Short Sale 

Volume data would include same day 

corrections to short sale volume. 

The Exchange also proposes to offer 

Short Sale Volume data on an intraday 

basis that will provide the same 

information to that of end-of-day Short 

Sale Volume data, but will be produced 

and updated every 10 minutes during 

the trading day. Data is captured in 

‘‘snapshots’’ taken every 10 minutes 

throughout the trading day and is 

available to subscribers within five 

minutes of the conclusion of each 10- 

minute period. For example, subscribers 

to the intraday product will receive the 

first calculation of intraday data by 

approximately 9:45 a.m. ET, which 

represents data captured from 9:30 a.m. 

to 9:40 a.m. Subscribers will receive the 

next update by 9:55 a.m., representing 

the data previously provided aggregated 

with data captured through 9:50 a.m., 

and so forth. Each update will represent 

combined data captured from the 

current ‘‘snapshot’’ and all previous 

‘‘snapshots’’ and thus will provide short 

sale volume data on an aggregate basis. 

The intraday Short Sale Volume data 

will not include same day corrections, 

as proposed in the end-of-day data. The 

proposed data products provide 

proprietary BYX trade data and do not 

include trade data from any other 

exchange. 

The proposed end-of-day and intraday 

Short Sale Volume data will be available 

for purchase on a monthly subscription 

basis. Subscribers to the end-of-day 

Short Sale Volume data will receive a 

daily end-of-day file. Similarly, 

subscribers to the intraday Short Sale 

Volume data will receive data which 

will be produced and updated every 10 

minutes as described above. 

Additionally, end-of-day and intraday 

Short Sale Volume data will be available 

on a historical basis for purchase as far 

back as January 3, 2017.8 The 

subscription files and historical ad hoc 

files will include the same data points. 

Further, the Exchange will establish a 

monthly subscriber fee and historical ad 

hoc fee for the Short Sale Volume data 

by way of a separate proposed rule 

change, which the Exchange will submit 

in connection with the launch of the 

Short Sale Volume data product. 

The Exchange anticipates a wide 

variety of market participants to 

purchase Short Sale Volume data, 

including, but not limited to active 

equity trading firms and academic 

institutions. For example, the Exchange 

notes that academic institutions may 

utilize Short Sale Volume data and as a 

result promote research and studies of 

the equities industry to the benefit of all 

market participants. The Exchange 

believes the proposed Short Sale 

Volume data products may also provide 

helpful trading information regarding 

investor sentiment that may allow 

market participants to make better 

trading decisions throughout the day 

and may be used to create and test 

trading models and analytical strategies 

and provides comprehensive insight 

into trading on the Exchange. For 

example, Short Sale Volume data may 

allow a market participant to identify 

the source of selling pressure and 

whether it is long or short. Further, it 

may provide more visibility into 

increasing and decreasing retail interest 

in a specific security. The proposal is a 

completely voluntary product, in that 

the Exchange is not required by any rule 

or regulation to make this data available 

and that potential subscribers may 

purchase it only if they voluntarily 

choose to do so. The Exchange notes 

that other exchanges offer similar data 

products.9

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Act,10 in general, and furthers 

the objectives of Section 6(b)(5) of the 

Act,11 in particular, in that it is designed 

to prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. Additionally, the 

Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 12 requirement that the rules of 

an exchange not be designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

In adopting Regulation NMS, the 

Commission granted self-regulatory 

organizations (‘‘SROs’’) and brokerdealers increased authority and 

flexibility to offer new and unique 

market data to the public. It was 

believed that this authority would 

expand the amount of data available to 

consumers, and also spur innovation 

and competition for the provision of 

market data. The Exchange believes that 

the proposed Short Sale Volume data 


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32078 Federal Register / Vol. 86, No. 114 / Wednesday, June 16, 2021 / Notices 

13See Supra note 9. 

14See https://nasdaqtrader.com/ 

Trader.aspx?id=shortsale. 

15See Supra note 9. 

16 Id. 

would further broaden the availability 

of U.S. equity market data to investors 

consistent with the principles of 

Regulation NMS. The proposal also 

promotes increased transparency 

through the dissemination of Short Sale 

Volume data. The proposed rule change 

would benefit investors by providing 

access to the Short Sale Volume data, 

which may promote better informed 

trading. Particularly, information 

regarding Short Sale Volume may allow 

a market participant to identify the 

source of selling pressure and whether 

it is long or short. Further, it may 

provide more visibility into increasing 

and decreasing retail interest in a 

specific security. 

Moreover, other exchanges offer 

similar data products.13 Nasdaq offers a 

daily short sale volume report and 

NYSE offers the TAQ group short sales 

and short volume product, which 

provide similar information to that 

included in the proposed end-of-day 

Short Sale Volume data product. The 

Nasdaq daily short sale volume file 

reflects the aggregate number of shares 

executed on Nasdaq, BX and PSX 

during regular trading hours.14

Specifically, the Nasdaq daily short sale 

volume provides the following 

information: Date, symbol, volume 

during regular trading hours, and CTA 

market identifier. The NYSE daily short 

volume file reflects a summary of short 

sale volume for securities traded on 

NYSE, NYSE American, NYSE Arca, 

NYSE National, and NYSE Chicago. 

Specifically, the NYSE short sales and 

short volume product provides the 

following information: Date, symbol, 

short exempt volume, short volume, 

total volume of the short sale 

transaction, and market identifier. NYSE 

and Nasdaq also offer monthly short 

sale volume reports which offer 

different information than that provided 

in their daily short sale reports. 

The Exchange proposes to include 

different and additional data in the 

proposed products. Specifically, the 

Exchange proposes to include session 

information, trade count, capacity, and 

a retail order indicator in the proposed 

data product which are not currently 

provided in either the NYSE or Nasdaq 

short sale volume product offerings. 

Further, the Exchange proposes to offer 

an intraday Short Sale Volume data 

product, which is not offered by other 

exchanges. The Exchange believes the 

additional data points and the intraday 

data will benefit market participants 

because they will provide visibility into 

market activity that is not currently 

available. Further it will allow market 

participants to better understand the 

changing risk environment on a daily 

and intraday basis. Therefore, the 

Exchange believes it is reasonable to 

include such data in the proposed 

products. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Rather, the 

Exchange believes that the proposal will 

promote competition by permitting the 

Exchange to offer data products similar 

to those offered by other competitor 

equities exchanges.15 The Exchange is 

proposing to introduce Short Sale 

Volume data in order to keep pace with 

changes in the industry and evolving 

customer needs, and believes this 

proposed rule change would contribute 

to robust competition among national 

securities exchanges. As noted, at least 

two other U.S. equity exchanges offer a 

market data product that is similar to 

the proposed Short Sale Volume data.16

As a result, the Exchange believes this 

proposed rule change permits fair 

competition among national securities 

exchanges. Therefore, the Exchange 

does not believe the proposed rule 

change will result in any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the Exchange consents, 

the Commission shall: (a) By order 

approve or disapprove such proposed 

rule change, or (b) institute proceedings 

to determine whether the proposed rule 

change should be 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– 

CboeBYX–2021–013 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–CboeBYX–2021–013. 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–CboeBYX–2021–013, and 

should be submitted on or before July 7, 

2021. 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 114 / Wednesday, June 16, 2021 / Notices 32079 

17 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Self-Regulatory Organizations; LCH SA; Notice 

of Filing of Proposed Rule Change Relating to the 

Clearing of Single-Name Credit Default Swaps by 

U.S. Customers, Exchange Act Release No. 34– 

91676 (April 26, 2021); 86 FR 23445 (May 3, 2021) 

(SR–LCH SA–2021–001). 

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

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

6 17 CFR 200.30–3(a)(31). 

1 12 U.S.C. 5465(e)(1). 

2 17 CFR 240.19b–4(n)(1)(i). 

3 15 U.S.C. 78a et seq. 

4Securities Exchange Act Release No. 90834 

(December 31, 2020), 86 FR 584 (January 6, 2021) 

(File No. SR–FICC–2020–804) (‘‘Notice of Filing’’). 

FICC also filed a related proposed rule change with 

the Commission pursuant to Section 19(b)(1) of the 

Exchange Act and Rule 19b–4 thereunder. 15 U.S.C. 

78s(b)(1) and 17 CFR 240.19b-4, respectively. FICC 

seeks approval of the proposed changes to its rules 

necessary to implement the Advance Notice (the 

‘‘Proposed Rule Change’’). The Proposed Rule 

Change was published in the Federal Register on 

December 10, 2020. Securities Exchange Act 

Release No. 90568 (December 4, 2020), 85 FR 79541 

(December 10, 2020) (SR–FICC–2020–017). On 

December 30, 2020, the Commission published a 

notice designating a longer period of time for 

Commission action and a longer period for public 

comment on the Proposed Rule Change. Securities 

Exchange Act Release No. 90794 (December 23, 

2020), 85 FR 86591 (December 30, 2020) (SR–FICC– 

2020–017). On February 16, 2021, the Commission 

published an order instituting proceedings to 

determine whether to approve or disapprove the 

Proposed Rule Change. Securities Exchange Act 

Release No. 91092 (February 9, 2021), 86 FR 91092 

(February 16, 2021) (SR–FICC–2020–017). 

5Pursuant to Section 806(e)(1)(H) of the Act, the 

Commission may extend the review period of an 

advance notice for an additional 60 days, if the 

changes proposed in the advance notice raise novel 

or complex issues, subject to the Commission 

providing the FMU with prompt written notice of 

the extension. 12 U.S.C. 5465(e)(1)(H); see also 

Notice of Filing, supra note 4 at 590 (explaining the 

Commission’s rationale for determining that the 

proposed changes in the Advance Notice raised 

novel and complex issues because (1) the proposed 

changes to FICC’s margin model are a direct 

response by FICC to address the unique 

circumstances that occurred during the pandemicrelated market volatility in March and April 2020, 

and (2) the proposed changes potentially could 

impact the mortgage market). 

6 17 CFR 200.30–3(a)(93). 

7 12 U.S.C. 5465(e)(1)(D). 

8See 12 U.S.C. 5465(e)(1)(E)(ii) and (G)(ii); see 

Memorandum from the Office of Clearance and 

Settlement, Division of Trading and Markets, titled 

‘‘Commission’s Request for Additional 

Information,’’ available at https://www.sec.gov/ 

comments/sr-ficc-2020-804/srficc2020804-8490035- 

229981.pdf. 

9Comments on the Advance Notice are available 

at https://www.sec.gov/comments/sr-ficc-2020-804/ 

srficc2020804.htm. Comments on the Proposed 

Continued 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–12592 Filed 6–15–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92142; File No. SR–LCH 

SA 2021–001] 

Self-Regulatory Organizations; LCH 

SA; Notice of Designation of Longer 

Period for Commission Action on 

Proposed Rule Change Relating to the 

Clearing of Single-Name Credit Default 

Swaps by U.S. Customers 

June 10, 2021. 

On April 13, 2021, Banque Centrale 

de Compensation, which conducts 

business under the name LCH SA (‘‘LCH 

SA’’), filed with the Securities and 

Exchange Commission (‘‘Commission’’), 

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

Securities Exchange Act (‘‘Act’’) 1 and 

Rule 19b–4 thereunder,2 a proposed rule 

change to amend its rules to allow LCH 

SA to offer clearing services in respect 

of single-name credit default swaps that 

are security-based swaps submitted by 

Clearing Members on behalf of their 

U.S. Clients for clearing by LCH SA. The 

proposed rule change was published for 

comment in the Federal Register on 

May 3, 2021.3 To date, the Commission 

has not received comments 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 shall 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 from the 

publication of notice of filing of this 

proposed rule change is June 17, 2021. 

The Commission is extending the 45- 

day time period for Commission action 

on the proposed rule change. The 

Commission finds it is appropriate to 

designate a longer period within which 

to take action on the proposed rule 

change so that it has sufficient time to 

consider LCH SA’s proposed rule 

change. 

Accordingly, pursuant to Section 

19(b)(2) 5 of the Act, and for the reasons 

discussed above, the Commission 

designates August 1, 2021, as the date 

by which the Commission should either 

approve or disapprove, or institute 

proceedings to determine whether to 

disapprove, the proposed rule change 

(File No. SR–LCH SA–2021–001). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–12588 Filed 6–15–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92145; File No. SR–FICC– 

2020–804] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

No Objection To Advance Notice To 

Modify the Calculation of the MBSD 

VaR Floor To Incorporate a Minimum 

Margin Amount 

June 10, 2021. 

On November 27, 2020, Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) advance 

notice SR–FICC–2020–804 (‘‘Advance 

Notice’’) pursuant to Section 806(e)(1) of 

Title VIII of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act, 

entitled Payment, Clearing and 

Settlement Supervision Act of 2010 

(‘‘Clearing Supervision Act’’),1 and Rule 

19b–4(n)(1)(i) 2 under the Securities 

Exchange Act of 1934 (‘‘Exchange 

Act’’).3 In the Advance Notice, FICC 

proposes to add a minimum margin 

amount calculation to its margin 

methodology to enhance FICC’s margin 

collections as needed in response to 

periods of extreme market volatility, as 

described more fully below. The 

Advance Notice was published for 

public comment in the Federal Register 

on January 6, 2021.4 Upon publication 

of the Notice of Filing, the Commission 

extended the review period of the 

Advance Notice for an additional 60 

days because the Commission 

determined that the Advance Notice 

raised novel and complex issues.5 On 

March 12, 2021, the Commission, by the 

Division of Trading and Markets, 

pursuant to delegated authority,6

requested additional information from 

FICC pursuant to Section 806(e)(1)(D) of 

the Act.7 The request for information 

tolled the Commission’s period of 

review of the Advance Notice until 60 

days from the date of the Commission’s 

receipt of the information requested 

from FICC, absent an additional 

information request.8

The Commission has received 

comments on the changes proposed in 

the Advance Notice.9 In addition, the 


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