[Federal Register Volume 89, Number 159 (Friday, August 16, 2024)]
[Notices]
[Page 66746]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-18340]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100693; File No. SR-FICC-2024-009]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Modify the GSD Rules Relating to the Adoption 
of a Trade Submission Requirement

August 12, 2024.
    On June 12, 2024, Fixed Income Clearing Corporation (``FICC'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-FICC-2024-009 (``Proposed Rule Change'') 
pursuant to Section 19(b) of the Securities Exchange Act of 1934 
(``Exchange Act'') \1\ and Rule 19b-4 \2\ thereunder to modify FICC's 
Government Securities Division (``GSD'') Rulebook (``GSD Rules'') as it 
relates to the adoption of a requirement for its direct participants to 
submit for clearance and settlement all eligible secondary market 
transactions in U.S. Treasury securities to which such direct 
participant is a counterparty.\3\ The Proposed Rule Change was 
published for public comment in the Federal Register on July 1, 
2024.\4\ The Commission has received comments regarding the substance 
of the changes proposed in the Proposed Rule Change.\5\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing infra note 4, at 89 FR 54602.
    \4\ Securities Exchange Act Release No. 100417 (June 25, 2024), 
89 FR 54602 (July 1, 2024) (File No. SR-FICC-2024-009) (``Notice of 
Filing'').
    \5\ Comments on the Proposed Rule Change are available at 
https://www.sec.gov/comments/sr-ficc-2024-009/srficc2024009.htm.
---------------------------------------------------------------------------

    Section 19(b)(2)(i) of the Exchange Act \6\ provides that, within 
45 days of the publication of notice of the filing of a proposed rule 
change, 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 unless 
the Commission extends the period within which it must act as provided 
in Section 19(b)(2)(ii) of the Exchange Act.\7\ Section 19(b)(2)(ii) of 
the Exchange Act allows the Commission to designate a longer period for 
review (up to 90 days from the publication of notice of the filing of a 
proposed rule change) if the Commission finds such longer period to be 
appropriate and publishes its reasons for so finding, or as to which 
the self-regulatory organization consents.\8\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2)(i).
    \7\ 15 U.S.C. 78 s(b)(2)(ii).
    \8\ Id.
---------------------------------------------------------------------------

    The 45th day after publication of the Notice of Filing is August 
15, 2024. In order to provide the Commission with sufficient time to 
consider the Proposed Rule Change, the Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the Proposed Rule Change and therefore is extending this 45-day time 
period.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Exchange Act,\9\ designates September 29, 2024, as the date by which 
the Commission shall either approve, disapprove, or institute 
proceedings to determine whether to disapprove proposed rule change SR-
FICC-2024-009.
---------------------------------------------------------------------------

    \9\ Id.
    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-18340 Filed 8-15-24; 8:45 am]
BILLING CODE 8011-01-P