Document ID: SEC-2015-0137-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: ICE Clear Credit LLC
Posted Date: 2015-01-23T05:00Z

[Federal Register Volume 80, Number 15 (Friday, January 23, 2015)]
[Notices]
[Page 3687]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01068]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74082; File No. SR-ICC-2014-19]

Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change To Formalize the ICC Operational Risk Management Framework

January 16, 2015.
    On November 18, 2014, ICE Clear Credit LLC (``ICC'') filed with the 
Securities and Exchange Commission (``Commission'') the proposed rule 
change SR-ICC-2014-19 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 December 2, 2014.\3\ The Commission did not receive comments on the 
proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-73684 (Nov. 25, 
2014), 79 FR 71495 (Dec. 2, 2014) (SR-ICC-2014-19).
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    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 January 16, 2015. The Commission is extending this 45-day 
time period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    ICC is proposing to update and formalize ICC's Operational Risk 
Management Framework. In light of the fact that the proper management 
and documentation of the systems to be maintained in order to formalize 
the processes for assessing operational risk can be detailed and 
require specific knowledge of the risks involved, 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 
this proposed rule change.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\5\ designates March 2, 2015, 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-2014-19).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-01068 Filed 1-22-15; 8:45 am]
BILLING CODE 8011-01-P