Document ID: SEC-2015-1275-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: ICE Clear Credit LLC
Posted Date: 2015-07-31T04:00Z

[Federal Register Volume 80, Number 147 (Friday, July 31, 2015)]
[Notices]
[Pages 45688-45689]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18769]

=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75529; File No. SR-ICC-2015-009]

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

July 27, 2015.
    On May 28, 2015, ICE Clear Credit LLC (``ICC'') 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 make revisions 
to the ICC Risk Management Framework (SR-ICC-2015-009). The proposed 
rule change was published for comment in the Federal Register on June 
12, 2015.\3\ To date, the Commission has not received comments on the 
proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-75119 (Jun. 8, 2015), 
80 FR 33573 (Jun. 12, 2015) (SR-ICC-2015-009).
---------------------------------------------------------------------------

    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

[[Page 45689]]

publication of notice of filing of this proposed rule change is July 
27, 2015.
---------------------------------------------------------------------------

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

    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. ICC's proposed rule change would 
revise the ICC Risk Management Framework to extend its General Wrong 
Way Risk framework to the portfolio level to account for the potential 
accumulation of portfolio wrong way risk through Risk Factor specific 
wrong way risk exposures. 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 ICC's proposed 
rule change.
    Accordingly, the Commission, pursuant to section 19(b)(2) of the 
Act,\5\ designates September 10, 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-2015-009).
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18769 Filed 7-30-15; 8:45 am]
 BILLING CODE 8011-01-P