[Federal Register Volume 82, Number 80 (Thursday, April 27, 2017)]
[Notices]
[Pages 19412-19413]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-08466]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80506; File No. SR-ICC-2017-003]


Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change, Security-Based Swap Submission, or Advance Notice Relating to 
ICC's End-of-Day Price Discovery Policies and Procedures

April 21, 2017.
    On February 16, 2017, 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 (SR-ICC-2017-003) 
to amend ICC's End-of-Day Price Discovery Policies and Procedures to 
implement a new price submission process for Clearing Participants 
(``CP''). The proposed rule change was published for comment in the 
Federal Register on March 9, 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. 34-80150 (March 3, 
2017), 82 FR 13173 (March 9, 2017) (SR-ICC-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 April 23, 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. ICC proposes to revise its End of 
Day Price Discovery Policies and Procedures to implement a new Clearing 
Participant price submission process to remove the intermediary agent 
through which Clearing Participants currently submit required prices, 
and replace it with a process through which Clearing Participants 
submit prices directly to ICC. The Commission finds that it is 
appropriate to designate a longer period

[[Page 19413]]

within which to take action on the proposed rule change so that it has 
sufficient time to consider ICC'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-ICC-2017-003) to no 
later than June 7, 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. 2017-08466 Filed 4-26-17; 8:45 am]
BILLING CODE 8011-01-P