[Federal Register Volume 78, Number 62 (Monday, April 1, 2013)]
[Notices]
[Pages 19561-19562]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-07474]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-69239; File No. SR-ICC-2013-04]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change to Amend 
Schedule 502 of the ICC Rules for the March 20, 2013 and March 27, 2013 
Scheduled Index Series Listings

March 26, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder \2\ notice is hereby given that 
on March 12, 2013, ICE Clear Credit LLC (``ICC'') filed with the 
Securities and Exchange Commission (``Commission'') the proposed rule 
change as described in Items I, II, and III below, which Items have 
been prepared primarily by ICC. ICC filed the proposed rule change 
pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(4)(i) 
\4\ thereunder so that the rule change was effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(4)(i).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The purpose of the proposed rule change is to update Schedule 502 
of the ICC Rules in order to be consistent with the scheduled index 
series listings occurring on March 20, 2013, and March 27, 2013.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, ICC 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. ICC has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of these statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    The purpose of the proposed rule change is to update Schedule 502 
of the ICC Rules in order to be consistent with the scheduled index 
series listings occurring on March 20, 2013, and March 27, 2013. The 
credit default swap indices scheduled to be listed (the ``Scheduled 
Indices'') are: North American Investment Grade, Series 20, 3-, 5-, 7- 
and 10-year to be listed on March 20, 2013; Emerging Markets, Series 
19, 5-year to be listed on March 20, 2013; North American High Yield, 
Series 20, 5-year to be listed on March 27, 2013; European iTraxx Main 
Series 19, 5- and 10-year to be listed on March 20, 2013; European 
iTraxx XOver Series 19, 5-year to be listed on March 20, 2013; and 
European iTraxx HiVol Series 19, 5-year to be listed on March 20, 2013. 
The Scheduled Indices update does not require any changes to the body 
of the ICC Rules. Also, the Scheduled Indices update does not require 
any changes to the ICC risk management framework. The only change being 
submitted is the update to the Scheduled Indices in Schedule 502 of the 
ICC Rules.
    ICC believes that the update to the Scheduled Indices is consistent 
with the purposes and requirements of Section 17A of the Act \5\ and 
the rules and regulations thereunder applicable to ICC because it will 
facilitate the prompt and accurate settlement of derivatives 
agreements.
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    \5\ 15 U.S.C. 78q-1.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    ICC does not believe the proposed rule change would have any 
impact, or impose any burden, on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    Written comments relating to the proposed rule change have not been 
solicited or received. ICC will notify the Commission of any written 
comments received by ICC.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective upon filing pursuant 
to Section 19(b)(3)(A) of the Act \6\ and Rule 19b-

[[Page 19562]]

4(f)(4)(i) \7\ thereunder because updating the Scheduled Indices 
effects a change in an existing service of ICC that does not adversely 
affect the safeguarding of securities or funds in the custody or 
control of ICC or for which it is responsible, and does not 
significantly affect the respective rights or obligations of ICC or the 
persons using the service. At any time within 60 days of the filing of 
the proposed rule change, the Commission summarily may temporarily 
suspend such rule change if it appears to the Commission that such 
action is necessary or appropriate in the public interest, for the 
protection of investors, or otherwise in furtherance of the purposes of 
the Act.
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(4)(i).
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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 [email protected]. Please include 
File Number SR-ICC-2013-04 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-ICC-2013-04. 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 the filing also will be available 
for inspection and copying at the principal office of ICC and on ICC's 
Web site at https://www.theice.com/publicdocs/regulatory_filings/ICEClearCredit_031113.pdf.
    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-ICC-2013-04 
and should be submitted on or before April 22, 2013.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-07474 Filed 3-29-13; 8:45 am]
BILLING CODE 8011-01-P