Document ID: SEC-2017-0725-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: ICE Clear Europe Limited
Posted Date: 2017-05-05T04:00Z

[Federal Register Volume 82, Number 86 (Friday, May 5, 2017)]
[Notices]
[Pages 21287-21288]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-09060]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80566; File No. SR-ICEEU-2017-003]

Self-Regulatory Organizations; ICE Clear Europe Limited; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change, Security-Based Swap Submission, or Advance Notice Relating to 
the CDS End-of-Day Price Discovery Policy

May 1, 2017.
    On March 10, 2017, ICE Clear Europe Limited (``ICE Clear Europe'') 
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 (SR-
ICEEU-2017-003) to amend ICE Clear Europe's CDS End-of-Day Price 
Discovery Policy to implement a new price submission process for 
Clearing Members. The proposed rule change was published for comment in 
the Federal Register on March 23,

[[Page 21288]]

2017.\3\ The Commission received no comments regarding the proposed 
changes.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 34-80269 (March 17, 
2017), 82 FR 14925 (March 23, 2017) (SR-ICEEU-2017-003) 
(``Notice'').
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    Section 19(b)(2) of the Act provides that within 45 days of the 
publication of the notice of the filing or 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.\4\ 
The 45th day from the publication of the Notice is May 7, 2017.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. ICE Clear Europe proposes to revise 
its CDS End-of-Day Price Discovery Policy to implement a new Clearing 
Member price submission process to remove the intermediary agent 
through which Clearing Members currently submit required prices, and 
replace it with a process through which Clearing Members submit prices 
directly to ICE Clear Europe. The Commission finds that 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 ICE 
Clear Europe's proposed rule change and the associated operational 
risks.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act, extends the period by which the Commission shall either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-ICEEU-2017-003) to no 
later than June 21, 2017.

    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-09060 Filed 5-4-17; 8:45 am]
BILLING CODE 8011-01-P