Federal Register / Vol. 79, No. 205 / Thursday, October 23, 2014 / Notices 63453 

16 17 CFR 200.30–3(a)(34). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 34–72941 

(Aug. 28, 2014), 79 FR 52794 (Sep. 4, 2014) (SR– 

ICC–2014–14). 

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 15 U.S.C. 78s(b)(7). 2 7 U.S.C. 7a–2(c). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–25203 Filed 10–22–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73384; File No. SR–ICC– 

2014–14] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Notice of 

Designation of Longer Period for 

Commission Action on Proposed Rule 

Change To Add Rules Related to the 

Clearing of Standard Western 

European Sovereign CDS Contracts 

October 17, 2014. 

On August 25, 2014, ICE Clear Credit 

LLC (‘‘ICC’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change SR–ICC–2014–14 pursuant to 

Section 19(b)(1) of the Securities 

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

19b–4 thereunder.2 The proposed rule 

change was published for comment in 

the Federal Register on September 4, 

2014.3 The Commission has not 

received comments on the proposed 

rule change. The Commission is 

publishing this notice to designate a 

longer period for Commission action 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 October 19, 

2014. The Commission is extending this 

45-day time period. 

ICC proposes to adopt new clearing 

rules and amend the ICC Risk 

Management Framework to provide for 

the clearance of Standard Western 

European Sovereign credit default swap 

(‘‘CDS’’) contracts, specifically the 

Republic of Ireland, the Italian 

Republic, the Portuguese Republic, and 

the Kingdom of Spain. Given that ICC 

does not currently provide clearing 

services for Western European 

Sovereign CDS, and it is proposing a 

new General Wrong Way Risk 

methodology to address the potential 

wrong way risk associated with the 

clearing of sovereign contracts, the 

Commission finds it appropriate to 

designate a longer period within which 

to take action on the proposed rule 

change so that it has sufficient time to 

consider the complex issues under the 

proposed rule change. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the Act,5

designates December 3, 2014, 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–ICC–2014–14). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–25204 Filed 10–22–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73385; File No. SR–CFE– 

2014–003] 

Self-Regulatory Organizations; CBOE 

Futures Exchange, LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change Regarding 

Exchange of Contract for Related 

Position Transactions and Minor Rule 

Violations 

October 17, 2014. 

Pursuant to Section 19(b)(7) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

October 1, 2014 CBOE Futures 

Exchange, LLC (‘‘CFE’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change described in 

Items I, II, and III below, which Items 

have been prepared by CFE. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. CFE 

also has filed this proposed rule change 

with the Commodity Futures Trading 

Commission (‘‘CFTC’’). CFE filed a 

written certification with the CFTC 

under Section 5c(c) of the Commodity 

Exchange Act (‘‘CEA’’) 2 on October 1, 

2014. 

I. Self-Regulatory Organization’s 

Description of the Proposed Rule 

Change 

The Exchange proposes to amend two 

rules related to Exchange of Contract for 

Related Position (‘‘ECRP’’) transactions 

and minor rule violations, respectively. 

The only security futures currently 

traded on CFE are traded under Chapter 

16 of CFE’s Rulebook which is 

applicable to Individual Stock Based 

and Exchange-Traded Fund Based 

Volatility Index security futures. The 

text of the proposed rule change is 

attached as Exhibit 4 to the filing but is 

not attached to the publication of this 

notice. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, CFE 

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. CFE 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 purpose of the proposed CFE rule 

amendments included as part of this 

rule change is to amend: (i) CFE Rule 

414 (Exchange of Contract for Related 

Position) to clarify that any parties to or 

Authorized Reporters for an ECRP 

transaction are obligated to comply with 

the requirements set forth in Rule 414; 

and (ii) CFE Rule 714 (Imposition of 

Fines for Minor Rule Violations), 

referred to herein sometimes as ‘‘Minor 

Rule Violation Rule,’’ to add new 

categories of rules for which the 

Exchange may impose summary fines 

for violations of the applicable rule(s) as 

well as to clarify the application of 

minor rule violation categories that 

contain more than one CFE Rule 

subsection. The rule amendments 

included as part of this rule change are 

to apply to all products traded on CFE, 

including both non-security futures and 

security futures. CFE is making these 

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63454 Federal Register / Vol. 79, No. 205 / Thursday, October 23, 2014 / Notices 

3 15 U.S.C. 78s(b)(7). 

4The proposed number of offenses leading up to 

a CFE Business Conduct Committee referral and the 

proposed fine amounts vary depending on the 

nature of the underlying violative conduct. This is 

because CFE regards violations of certain rule 

provisions under the Minor Rule Violation Rule to 

be more serious relative to violations of other rule 

provisions under the Minor Rule Violation Rule. 5See CFE Rule 714(d). 

rule amendments in conjunction with 

other rule amendments to CFE Rule 714 

that are not required to be submitted to 

the Commission pursuant to Section 

19(b)(7) of the Act 3 and thus are not 

included as part of this rule change. 

ECRP Transactions 

CFE is proposing to amend CFE Rule 

414 (Exchange of Contract for Related 

Position) to clarify the obligations and 

responsibilities of parties to and 

Authorized Reporters for ECRP 

transactions. Rule 414(h) currently 

provides that each Trading Privilege 

Holder (‘‘TPH’’) that executes an ECRP 

transaction must designate at least one 

Authorized Reporter, which reports the 

ECRP transaction to the Exchange. The 

Amendment clarifies that both the 

parties to and Authorized Reporters for 

an ECRP transaction are obligated to 

comply with the requirements set forth 

in Rule 414, and any of these parties or 

Authorized Reporters may be held 

responsible by the Exchange for 

noncompliance with those 

requirements. 

Minor Rule Violation Rule 

CFE is proposing to amend CFE Rule 

714 (Imposition of Fines for Minor Rule 

Violations) to add new categories of 

rules for which the Exchange may 

impose summary fines for violations of 

the applicable rule(s). Rule 714(f) 

currently provides for ten categories of 

Exchange rule violations that are 

considered minor rule violations for 

purposes of Rule 714 and corresponding 

summary fine schedules. The proposed 

CFE rule amendment would (i) identify 

nine new categories of rules for which 

the Exchange may impose summary 

fines for violations of the applicable 

rule(s), (ii) enumerates the specific 

rule(s) within each category, and (iii) 

sets forth a summary fine schedule for 

violations of the rule(s) within each 

category.4 Below are general 

descriptions of areas covered by the 

nine categories: 

• Account Designation in Orders 

• Order Form Preparation and 

Recordkeeping for Orders Which 

Cannot Be Immediately Entered into 

the CBOE System 

• Notification Provisions for Position 

Accountability 

• Reporting Requirements for 

Reportable Positions 

• Exchange of Contract for Related 

Position Transaction Order Marking 

and Reporting Requirements 

• Block Trade Order Marking and 

Reporting Requirements 

• Provision of Books and Records 

The Exchange will have the ability to 

impose fines for the new violation types 

covered in the Minor Rule Violation 

Rule both for matters that are currently 

pending for which a statement of 

charges has not yet been issued under 

CFE Rule 704(b) (Charges) and for future 

matters. Subsection (c) of the Minor 

Rule Violation Rule currently provides 

that any Person against whom a fine is 

imposed pursuant to the Minor Rule 

Violation Rule may contest the 

determination in accordance with the 

procedure described in that subsection, 

which includes the ability to have the 

fine reviewed by a Business Conduct 

Committee Panel. The Exchange 

believes that these violations are 

suitable for incorporation into the 

Exchange’s Minor Rule Violation Rule 

because they are generally technical in 

nature. Further, CFE will be able to 

carry out its regulatory responsibility 

more quickly and efficiently by 

incorporating these violations into its 

Minor Rule Violation Rule. CFE may, 

whenever it determines that any 

violation of a rule covered in the Minor 

Rule Violation Rule is intentional, 

egregious or otherwise not minor in 

nature, proceed under the Exchange’s 

formal disciplinary rules.5

CFE is proposing to make the 

following modifications to CFE Rule 714 

with the number of offenses being 

calculated on a rolling twelve (12) 

month period (with the exception of the 

first category discussed below where the 

number of offenses will be calculated on 

a rolling twenty-four (24) month 

period): 

Account Designation in Orders 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of requirements for Account Designation 

in Orders. Specifically, the Exchange is 

proposing to modify the Minor Rule 

Violation Rule to add CFE Rule 

403(a)(viii), which requires that each 

Order must contain information about 

account designation. A first offense will 

result in the issuance of a letter of 

caution. The second offense will be 

subject to a $2,500 fine. The third 

offense will be subject to a $10,000 fine. 

Subsequent offenses will be referred to 

CFE’s Business Conduct Committee. 

Order Form Preparation and 

Recordkeeping for Orders Which Cannot 

Be Immediately Entered Into the CBOE 

System 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of requirements for Order Form 

Preparation and Recordkeeping for 

Orders Which Cannot Be Immediately 

Entered into the CBOE System (i.e., 

CFE’s trading system). Specifically, the 

Exchange is proposing to modify the 

Minor Rule Violation Rule to add CFE 

Rule 403(b), which sets forth 

preparation and recordkeeping 

requirements relating to orders which 

cannot be immediately entered into the 

CBOE System. A first offense will result 

in the issuance of a letter of caution. 

The second offense will be subject to a 

$2,500 fine. The third offense will be 

subject to a $10,000 fine. Subsequent 

offenses will be referred to CFE’s 

Business Conduct Committee. 

Notification Provisions for Position 

Accountability 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of requirements for Notification 

Provisions for Position Accountability. 

First, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 412A(c), which provides 

notification requirements for allexpirations-combined position 

accountability levels. A first offense will 

result in the issuance of a letter of 

caution. The second offense will be 

subject to a $7,500 fine. The third 

offense will be subject to a $15,000 fine. 

Subsequent offenses will be referred to 

CFE’s Business Conduct Committee. 

Second, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 412A(d), which provides 

notification requirements for position 

accountability levels for expiring 

contracts. A first offense will result in 

the issuance of a letter of caution. The 

second offense will be subject to a 

$7,500 fine. The third offense will be 

subject to a $15,000 fine. Subsequent 

offenses will be referred to CFE’s 

Business Conduct Committee. 

At the present time, the security 

futures listed for trading on CFE are all 

subject to position limits instead of 

position accountability. However, it is 

possible that CFE could amend its rules 

in the future to apply position 

accountability instead of position limits 

to one or more security futures. 

Reporting Requirements for Reportable 

Positions 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 79, No. 205 / Thursday, October 23, 2014 / Notices 63455 

of Reporting Requirements for 

Reportable Positions. 

First, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 412B(a), which requires 

TPHs to report to the Exchange 

reportable positions and related 

information relating to Exchange 

Contracts that TPHs are required to 

report to the CFTC pursuant to CFTC 

regulations. A first offense will result in 

the issuance of a letter of caution. The 

second offense will be subject to a 

$7,500 fine. The third offense will be 

subject to a $15,000 fine. Subsequent 

offenses will be referred to CFE’s 

Business Conduct Committee. 

Second, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 412B(b), which requires 

any Person that is not a TPH and that 

is required to report to the CFTC 

pursuant to CFTC regulations reportable 

positions and related information 

relating to Exchange Contracts to report 

the foregoing reportable positions and 

related information to the Exchange. A 

first offense will result in the issuance 

of a letter of caution. The second offense 

will be subject to a $7,500 fine. The 

third offense will be subject to a $15,000 

fine. Subsequent offenses will be 

referred to CFE’s Business Conduct 

Committee. 

Exchange of Contract for Related 

Position Transaction Order Marking and 

Reporting Requirements 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of ECRP Order Marking and Transaction 

Reporting Requirements. 

First, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 414(f), which requires 

every TPH that handles, executes, 

clears, or carries ECRP transactions or 

positions to identify and mark as such 

by appropriate symbol or designation all 

ECRP transactions or positions and all 

orders, records, and memoranda 

pertaining thereto. A first offense will be 

subject to a $2,500 fine. The second 

offense will be subject to a $10,000 fine. 

Subsequent offenses will be referred to 

CFE’s Business Conduct Committee. 

Second, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 414(i), which sets forth 

notification requirements for a party 

that executes an ECRP transaction. A 

first offense will result in the issuance 

of a letter of caution. The second offense 

will be subject to a $7,500 fine. The 

third offense will be subject to a $15,000 

fine. Subsequent offenses will be 

referred to CFE’s Business Conduct 

Committee. 

Third, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 414(j), which requires a 

party that executes an ECRP transaction 

to include certain information when 

notifying the Exchange of an ECRP 

transaction. A first offense will result in 

the issuance of a letter of caution. The 

second offense will be subject to a 

$7,500 fine. The third offense will be 

subject to a $15,000 fine. Subsequent 

offenses will be referred to CFE’s 

Business Conduct Committee. 

Block Trade Order Marking and 

Reporting Requirements 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of Block Trade Order Marking and 

Reporting Requirements. 

First, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 415(a)(i)(A), which 

requires that each buy or sell order 

underlying a Block Trade must state 

explicitly that it is to be, or may be, 

executed by means of a Block Trade. A 

first offense will be subject to a $2,500 

fine. The second offense will be subject 

to a $10,000 fine. Subsequent offenses 

will be referred to CFE’s Business 

Conduct Committee. 

Second, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 415(g), which sets forth 

notification requirements for a party to 

a Block Trade. A first offense will result 

in the issuance of a letter of caution. 

The second offense will be subject to a 

$7,500 fine. The third offense will be 

subject to a $15,000 fine. Subsequent 

offenses will be referred to CFE’s 

Business Conduct Committee. 

Third, the Exchange is proposing to 

modify the Minor Rule Violation Rule to 

add CFE Rule 415(h), which requires a 

party to a Block Trade to include certain 

information when notifying the 

Exchange of a Block Trade. A first 

offense will result in the issuance of a 

letter of caution. The second offense 

will be subject to a $7,500 fine. The 

third offense will be subject to a $15,000 

fine. Subsequent offenses will be 

referred to CFE’s Business Conduct 

Committee. 

Provision of Books and Records 

CFE is proposing to modify its Minor 

Rule Violation Rule to cover violations 

of requirements for Provision of Books 

and Records. Specifically, the Exchange 

is proposing to modify the Minor Rule 

Violation Rule to add both CFE Rule 

502, which sets forth CFE’s general 

inspection, delivery, and retention 

requirements for books and records, as 

well as other CFE rules allowing CFE to 

request books and records in specific 

circumstances. For each business day 

late past the due date of the Exchange’s 

request for books and records up until 

15 business days late, the TPH will be 

subject to a $1,000 per business day. 

After 15 business days late, the TPH 

will be referred to CFE’s Business 

Conduct Committee. 

Clarification 

CFE is proposing to modify CFE Rule 

714(e) to clarify how the Exchange will 

apply minor rule violation categories 

listed that contain more than one Rule 

subsection. For these categories, the 

applicable fine schedule will apply 

separately with respect to violations of 

each of those Rule subsections. 

Therefore, if conduct violates only one 

of those Rule subsections, it would be 

considered an offense with respect to 

that subsection but not with respect to 

the other Rule subsection(s) to which 

the fine schedule also applies. For 

example, if the same fine schedule 

applies to Rule subsection (a) and Rule 

subsection (b) and conduct violates only 

Rule subsection (a) for the first time in 

a twelve-month rolling period, that 

conduct would be considered a first 

offense under the schedule with respect 

to Rule subsection (a). A later violation 

in that period of Rule subsection (b) 

would be considered a first offense 

under the schedule with respect to Rule 

subsection (b). If conduct violates more 

than one of those Rule subsections for 

the first time in a twelve-month rolling 

period, it would be considered an 

offense with respect to each of those 

subsections. For example, if the same 

fine schedule applies to Rule subsection 

(a) and Rule subsection (b) and the same 

conduct violates both Rule subsection 

(a) and Rule subsection (b) for the first 

time in a twelve-month rolling period, 

that would be considered a first offense 

under the schedule with respect to Rule 

subsection (a) and a first offense under 

the schedule with respect to Rule 

subsection (b). If the first offense is to 

receive a fine under the schedule, that 

fine amount would be assessed twice, 

once in relation to Rule subsection (a) 

and also once in relation to Rule 

subsection (b). Each Rule subsection 

listed in the Minor Rule Violation Rule 

is intended to address a different type 

of misconduct. 

CFE is also making technical, nonsubstantive changes to Rule 714 that 

pertain solely to formatting. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

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63456 Federal Register / Vol. 79, No. 205 / Thursday, October 23, 2014 / Notices 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78f(b)(7). 9 15 U.S.C. 78s(b)(1). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. FICC also filed a proposed 

change as an advance notice concerning GSD’s 

inclusion of GCF® repo positions in its intraday 

participant clearing fund requirement calculation 

and its hourly internal surveillance cycles under 

Section 806(e)(1) of the Payment, Clearing, and 

Settlement Supervision Act of 2010 (‘‘Payment, 

Clearing and Settlement Supervision Act). 12 U.S.C. 

5465(e)(1). Securities Exchange Act Release No. 

71469 (February 4, 2014), 79 FR 7722 (February 10, 

2014) (SR–FICC–2014–801). FICC subsequently 

amended the advance notice to establish the Early 

Unwind Intraday Charge described herein. 

Securities Exchange Act Release No. 73187 

Section 6(b) of the Act,6 in general, and 

furthers the objectives of Sections 

6(b)(5) 7 and 6(b)(7) 8 in particular in 

that it is designed: 

• To prevent fraudulent and 

manipulative acts and practices, 

• to promote just and equitable 

principles of trade, 

• to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 

• 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, and 

• to provide a fair procedure for the 

disciplining of members. 

The Exchange believes that the 

proposed rule change will strengthen its 

ability to carry out its responsibilities as 

a self-regulatory organization by 

clarifying that CFE may hold any parties 

to and Authorized Reporters for an 

ECRP transaction responsible for 

compliance with the related rule 

depending on the facts and 

circumstances and by adding violations 

to its Minor Rule Violation Rule. CFE 

also believes that the additions to the 

Minor Rule Violation Rule will serve as 

an effective deterrent to future violative 

conduct and as an effective and efficient 

means of disciplining for infractions 

that do not warrant a regular 

disciplinary proceeding. CFE 

additionally believes that these 

additions will promote consistent 

application of sanctions by the 

Exchange for minor rule violations, 

establish a fair procedure for the 

disciplining of TPHs for minor rule 

violations and reinforce its surveillance 

and enforcement functions. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CFE does not believe that the 

proposed rule change will impose any 

burden on competition not necessary or 

appropriate in furtherance of the 

purposes of the Act, in that the rule 

change makes enhancements to CFE’s 

ability to deter and discipline certain 

infractions. The Exchange believes that 

the proposed rule change is equitable 

and not unfairly discriminatory because 

the clarification of compliance 

responsibilities with respect to ECRP 

transactions and all of the additions to 

the Minor Rule Violation Rule would 

apply equally to all parties that are 

subject to the applicable requirements. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The proposed rule change will 

become effective on October 16, 2014. 

At any time within 60 days of the date 

of effectiveness of the proposed rule 

change, the Commission, after 

consultation with the CFTC, may 

summarily abrogate the proposed rule 

change and require that the proposed 

rule change be refiled in accordance 

with the provisions of Section 19(b)(1) 

of the Act.9

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– 

CFE–2014–003 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–CFE–2014–003. 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 Web site (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 Web site 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 

filing also will be available for 

inspection and copying at the principal 

offices of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–CFE– 

2014–003, and should be submitted on 

or before November 13, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–25201 Filed 10–22–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73389; File No. SR–FICC– 

2014–01] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Order 

Approving Proposed Rule Change To 

Amend the Government Securities 

Division Rulebook in Order To 

Establish an Early Unwind Intraday 

Charge in Connection With the 

Inclusion of GCF Repo® Positions in 

GSD’s Intraday Participant Clearing 

Fund Requirement, and GSD’s Hourly 

Internal Surveillance Cycles 

October 17, 2014. 

I. Introduction 

On August 11, 2014, the Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule change SR–FICC–2014–01 pursuant 

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

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

19b–4 thereunder.2 The proposed rule 

mstockstill on DSK4VPTVN1PROD with NOTICES