Document ID: SEC-2020-0400-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: ICE Clear Credit LLC
Posted Date: 2020-03-19T04:00Z

[Federal Register Volume 85, Number 54 (Thursday, March 19, 2020)]
[Notices]
[Pages 15829-15830]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05678]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88379; File No. SR-ICC-2020-002]

Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change Relating to the ICC Risk Management Model Description, ICC 
Stress Testing Framework, ICC Liquidity Risk Management Framework, ICC 
Back-Testing Framework, and ICC Risk Parameter Setting and Review 
Policy

March 13, 2020.
    On January 14, 2020, ICE Clear Credit LLC (``ICC''), filed with the 
Securities

[[Page 15830]]

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 make 
certain changes to the Risk Management Model Description, Stress 
Testing Framework, Liquidity Risk Management Framework, Back-Testing 
Framework, and Risk Parameter Setting and Review Policy in connection 
with the clearing of credit default index swaptions. The proposed rule 
change was published for comment in the Federal Register on January 31, 
2020.\3\ To date, the Commission has not received 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. 88047 (Jan. 27, 2020), 
85 FR 5756 (Jan. 31, 2020) (SR-ICC-2020-002).
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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 March 16, 2020.
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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, in which ICC would make the changes 
noted above. 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, pursuant to Section 19(b)(2) \5\ of the Act, and for 
the reasons discussed above, the Commission designates April 30, 2020, 
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-2020-002).
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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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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-05678 Filed 3-18-20; 8:45 am]
 BILLING CODE 8011-01-P