[Federal Register Volume 89, Number 172 (Thursday, September 5, 2024)]
[Notices]
[Pages 72538-72542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-19878]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100876; File No. SR-ICC-2024-009]
Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of
Filing of Proposed Rule Change, as Modified by Partial Amendment No. 1,
Relating to the Clearing Rules, Risk Management Framework, Governance
Playbook and Sixth Amended and Restated Operating Agreement
August 29, 2024.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of
1934,\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on
August 19, 2024, 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
primarily prepared by ICC. On August 27, 2024, ICC filed Partial
Amendment No. 1 to the proposed rule change.\3\ The Commission is
publishing this notice to solicit comments on the proposed rule change,
as modified by Partial Amendment No. 1 (hereafter, ``proposed rule
change'') from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Partial Amendment No. 1 amends the Exhibit 5A to correct a
typographical error.
---------------------------------------------------------------------------
I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The principal purpose of the proposed rule change is to revise its
(i) Clearing Rules (the ``Rules''), (ii) Risk Management Framework (the
``Framework''), (iii) Governance Playbook (the ``Playbook''), and (iv)
Sixth Amended and Restated Operating Agreement (the ``Operating
Agreement'').
II. Clearing Agency'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,
security-based swap submission, or advance notice and discussed any
comments it received on the proposed rule change, security-based swap
submission, or advance notice. 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) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
(a) Purpose
The amendments are intended principally to provide for (i) the
elimination of the Risk Management Subcommittee, (ii) the establishment
of a Risk Advisory Working Group and (iii) expansion of the Risk
Committee to include representatives of Non-Participant Parties and
clarification of certain other arrangements relating to the operation
of the Risk Committee, among other clarifications, as discussed herein.
ICC believes that such revisions will facilitate the prompt and
accurate clearance and settlement of securities transactions and
derivative agreements, contracts, and transactions for which it is
responsible. ICC proposes to make such changes effective following
Commission approval of the proposed rule change. The proposed revisions
are described in detail as follows.
I. Rules
ICC proposes to eliminate its Risk Management Subcommittee, which
is currently tasked under the Rules with consulting with the Board and
the Risk Committee as to eligible products, standards for ICC Clearing
Participants (``Participants'' or ``CPs'') and approvals or denials of
Participant applications. ICC believes the subcommittee is unnecessary
and the relevant consultative and advisory functions can be performed
(and in fact are typically performed as a matter of current practice)
by the Risk Committee itself. In addition, the newly established Risk
Advisory Working Group will support those consultative and advisory
functions. Accordingly, ICC is amending the Rules to remove references
to the Risk Management Subcommittee throughout the Rules, including the
deletion of Rule 510 (which set out the responsibilities of the Risk
Management Subcommittee) and Rule 511 (which addresses the membership
of Risk Management Subcommittee), among others.
Rules 201 and 202 (which cover Qualifications and Applications of
Participants) would be amended to remove references to the Risk
Management Subcommittee. In addition, Rule 201 would be amended to add
references to the Risk Committee's consultation rights over any
proposed amendment to the qualifications for Participants as well as
with respect to satisfying or ceasing to satisfy ICC's internal credit
criteria, to reflect current practices. Furthermore, Rule 202 would be
amended to add a reference to the Risk Committee's consultation rights
over approvals or denials of Participant applications to reflect
current practices.
Rule 509 (which currently provides for the establishment of the
Risk Management Subcommittee) would be amended to provide for the
establishment of the new Risk Advisory Working Group, as a forum to
seek risk-based input from a broad array of market participants
regarding all matters that could materially affect the risk profile of
ICE Clear Credit, consistent with the requirements of Commodity Futures
Trading Commission (``CFTC'') regulations.\4\ The amendment would
clarify that the role of the working group is advisory, such that
neither the Board nor the Risk Committee is required to accept or act
upon any proposal of the working group. The members of the Risk
Advisory Working Group would include a minimum of two representatives
of Participants and a minimum of two representatives of Non-Participant
Parties. While Rule 509 would provide for a minimum number of
Participant and Non-Participant Party members on the Risk Advisory
Working Group, Rule 509 provides the flexibility for more
[[Page 72539]]
than the minimum number of Participants and Non-Participant Parties to
participate on the Risk Advisory Working Group, subject to interest and
availability of such representatives. The amendments would remove a
reference to reporting requirements to the CFTC and SEC, which are
inapplicable in the context of the Risk Advisory Working Group.
---------------------------------------------------------------------------
\4\ See 17 CFR 39.24(b)(12).
---------------------------------------------------------------------------
The limitations on liability provided by Rule 512 (which currently
apply to the Risk Management Subcommittee) would be revised to apply to
the Risk Advisory Working Group and its members. Rule 512 would also
provide that the Risk Advisory Working Group would meet when necessary
or desirable, but at least twice per year, and that the working group
would provide the Risk Committee with a summary of the topics discussed
and main points raised at each meeting, as required by CFTC
regulations.\5\
---------------------------------------------------------------------------
\5\ See 17 CFR 39.24(b)(12).
---------------------------------------------------------------------------
Consistent with the requirements of CFTC regulations,\6\ ICC would
also modify its existing Risk Committee to include representatives of
Non-Participant Parties, as discussed below. The amendments would also
revise the role of the Risk Committee in Rule 501 to provide generally
that the Board would consult with the Risk Committee on any matters
that may materially affect the risk profile of ICC (in addition to the
specified actions set forth in Rule 502), and to state explicitly that
the Board would consider and respond to the proposals, recommendations
and other input provided by the Risk Committee. In addition, Rule 502
would be amended to clarify that the specific actions subject to Risk
Committee consultation specified therein are not intended to limit the
general provisions of Rule 501. Furthermore, Rule 502 would be amended
to delete a cross reference to Rule 510 (which sets out the
responsibilities of the Risk Management Subcommittee) which is being
deleted as discussed herein. With the proposed deletion to the cross
reference to Rule 510, Rule 502 would be further amended to directly
reference the current consultation rights of the Risk Committee over:
(i) any proposed amendments to the qualifications for Participants and
(ii) approvals or denials of Participant applications.
---------------------------------------------------------------------------
\6\ See 17 CFR 39.24(b)(11).
---------------------------------------------------------------------------
The amendments would make certain changes to the composition of the
Risk Committee in Rule 503(a). The size of the Risk Committee would be
increased to fourteen instead of twelve members. The two additional
members of the Risk Committee would be representatives of Non-
Participant Parties. The amendments set out the process for selection
of these representatives. The two Non-Participant Parties would be
selected by a majority vote of the other Risk Committee Members (i.e.,
the Participant Appointees and the three members appointed by ICC). The
Non-Participant Parties must be active in clearing transactions at ICE
Clear Credit. The selected Non-Participant Party would select an
individual to serve as its Non-Participant Appointee. This person must
have risk management experience and expertise and would be subject to
both the Risk Committee's and Board's approval, neither which would be
unreasonably withheld, conditioned, or delayed. This person would also
only be eligible if they are an employee of the Non-Participant Party
or an Affiliate thereof. The Non-Participant Appointee may be removed
at any time without cause by the Non-Participant Party that appointed
the individual. If a vacancy were to occur in the position, the Non-
Participant Party may appoint another individual in accordance with
Rule 503. In addition, under new Rule 503(c), a Non-Participant Party
appointing a Non-Participant Appointee to the Risk Committee would have
to execute a confidentiality agreement and would have to cause the Non-
Participant Appointee to execute an acknowledgment of their
confidentiality obligations in a form reasonably prescribed by ICC.
Under Rule 505 as amended, a majority of the Risk Committee would
constitute a quorum. The amendments would delete an additional
requirement in the existing Rule that at least half of the Participant
Appointees must be present. ICC believes this requirement is
unnecessary in light of the revised size and composition of the Risk
Committee. ICC believes that a majority quorum requirement is a well-
established and standard business practice and strikes the right
balance to ensure a material number of Risk Committee members are
present at Risk Committee meetings without being overly burdensome.
Furthermore, ICC believes that any additional quorum requirements that
would apply either to the Participant Appointees or the Non-Participant
Appointees are not necessary or appropriate and may impede the ability
of the Risk Committee to achieve a quorum, as attendance by Risk
Committee members is largely outside of ICC's control. The inability to
achieve a quorum at Risk Committee meetings (particularly if that
occurs regularly) could be detrimental to ICC's ability to conduct its
business given its requirement to consult with the Risk Committee prior
to taking the Specified Actions listed in Rule 502. Rule 506, which
provides for the elimination of certain fiduciary duties for Risk
Committee members and appointing parties, would be revised to reflect
that the appointment of members by Non-Participant Parties. The
amendments would make certain other clarifications in Rule 507 relating
to participation in meetings by audio or video conference to more
specifically provide examples of communications equipment used for Risk
Committee meetings.
In light of the expansion of the requirement to consult with the
Risk Committee as described above, the amendments would clarify the
consultation process in Rule 601 in the event of an emergency.
Specifically, the amendments would reflect that for matters otherwise
subject to Risk Committee consultation (in addition to Specified
Actions), there would be no obligation to do so where the Board or
Eligible Officer determines that the delay caused by consultation would
create significant risks to the clearing system and Participants
generally, consistent with the existing standard under Rule 601,
subject to the requirement to consult as promptly as practicable after
taking the relevant action.
Moreover, the amendments would revise Rule 703 to provide that the
Business Conduct Committee would hear any matter referred to it by the
Review Subcommittee \7\ (rather than the Risk Management Subcommittee).
This change corrects an erroneous reference in the current Rule to the
Risk Management Subcommittee. The amendments would also make conforming
changes to the form of Confidentiality Agreement for Risk Committee
participants to specify Market Participant instead of Clearing House
member (to reflect that the Risk Committee would include Non-
Participant Appointees).
---------------------------------------------------------------------------
\7\ Under existing Rule 703(c), the Review Subcommittee is a
three-person subcommittee of the Business Conduct Committee that is
empaneled from time-to-time by the Business Conduct Committee, as
necessary, to receive and review investigation reports of possible
ICC Rule violations.
---------------------------------------------------------------------------
Finally, the amendments would make drafting corrections and
clarifications to account for the other changes being made. These would
include the deletion of definitions relevant to the Risk Management
Subcommittee (i.e., Independent ICE Subcommittee Managers, Risk
Management Subcommittee, and Subcommittee
[[Page 72540]]
Specified Action) as these definitions are no longer necessary or
relevant with the elimination of the Risk Management Subcommittee. In
addition, the amendments add the definition of Non-Participant
Appointees to reflect the new category of Risk Committee members as
discussed above, and also adds the definition of Risk Advisory Working
Group to define the new Risk Advisory Working Group.
II. Risk Management Framework
ICC would amend the Framework to reflect the changes being made to
the Rules as described above. References to the Risk Management
Subcommittee would be deleted and references to the new Risk Advisory
Working Group would be added where relevant. As a result, the chart
illustrating the governance structure of ICE Clear Credit would be
replaced to show the elimination of the Risk Management Subcommittee
and the addition of the Risk Advisory Working Group. The amendments
would also remove references to an Advisory Committee, which is a
committee of Non-Participant Party representatives that would no longer
be maintained in light of the changes to the Risk Committee composition
discussed above. The Advisory Committee is effectively a dormant
committee in that it met only on an as-needed basis and has not met for
a number of years. While the primary role of the Advisory Committee was
to act as a forum to solicit input from Non-Participant Parties, the
Advisory Committee has proven ineffective in achieving its primary
role. As a result, ICC believe that it appropriate to discontinue the
Advisory Committee. ICC believes the proposed roles for Non-Participant
Parties on the Risk Committee and the Risk Advisory Working Group will
provide a greater opportunity for meaningful participation by Non-
Participant Parties in ICC's governance process than was afforded by
the Advisory Committee in practice (even though it may have had more
members and even though the Risk Advisory Working Group does not
directly consult with the Board).
The subsection on Risk would be updated to reflect the role of the
Risk Advisory Working Group, to provide risk-based feedback to ICC on
all matters that could materially affect the risk profile of ICC as
discussed above. The amendments would also add a revision history
section to the Framework (as Section VII) to document revisions made to
the Framework on a going forward basis. As a result of the addition of
the new section, Section VII. Appendices would be re-numbered as
Section VIII.
III. Governance Playbook
ICE Clear Credit would also amend the Playbook to conform to the
amendments to the Rules and Framework discussed above. References to
the Risk Management Subcommittee and Advisory Committee would be
deleted throughout the Playbook, and references to the Risk Advisory
Working Group would be added where relevant. The description of the
Steering Committee, which oversees the implementation of all credit
default swap (``CDS'') product launches and initiatives, would be
revised to remove references to ICE Clear Europe (``ICEU'') as ICEU
discontinued its CDS clearing offering in late 2023 and therefore no
longer participates in the Steering Committee. References to the FCM
Executive Council would also be removed, as that council would no
longer be maintained. The FCM Executive Council is an obsolete
committee in that its primary purpose was to provide Participants a
forum to provide feedback to ICC as it proposed Rules, policies and
procedures related to the addition of customer clearing to ICC's
clearing offering. As customer clearing is now an established and
mature business at ICC, the primary purpose of the committee has been
achieved and therefore the FCM Executive Council has not met in a
number of years. As a result, ICC believes it is appropriate to
discontinue maintaining the FCM Executive Council.
The amendments would also delete a requirement that the election of
ICC Board members would follow no less than 5 business days after the
Risk Committee Reconstitution Date. The elections would still occur
after the Risk Committee Reconstitution Date but there would not be a
specific timeframe in order to give sufficient time to on-board new
Risk Committee members following the Risk Committee Reconstitution
Date, and to allow the Risk Committee sufficient time to consider and
nominate Risk Committee Board Appointees.
Conforming changes would also be made to the description and
composition of the Risk Committee consistent with the amendments to the
Rules discussed above (including the deletion of all previous language
referring to and describing the Risk Management Subcommittee).
Specifically, the amendments would add that the Risk Committee would
include representatives of customers of ICC CPs and that the Board is
required to consult with the Risk Committee with respect to matters
that could materially affect the risk profile of ICC. The amendments
would state that the Risk Committee would consist of fourteen rather
than twelve members and that two of the members would be
representatives of customers of CPs and address the procedures for
selecting the two representatives of customers of CP members under the
Rules. The amendments would also add a reference to Chapter 5 of the
Rules, which is the chapter describing the Risk Committee. In addition,
the amendments would change the reference to the Chairman of the Risk
Committee to the Chairperson to be more gender inclusive.
The amendments would add a description of the Risk Advisory Working
Group, including its purposes and membership, consistent with the
amendments to the Rules discussed above. The amendments provide that
the ICC Chief Risk Officer would serve as Chairperson of the Risk
Advisory Working Group. Moreover, a minimum of two members would be
representatives of CPs and a minimum of two representatives would be
customer of CPs. Members of the Risk Advisory Working Group would be
appointed by the ICC President, subject to the approval by the Risk
Committee. The amendments would also specify that the Risk Advisory
Working Group would meet on as-needed basis to consult all matters that
could affect ICC's risk profile but would meet at least two times per
year. The amendments would also make clear that the relevant documents
to be maintained for the Risk Advisory Working Group include meeting
materials and summary of the main points and topics discussed during
the meeting. Furthermore, administrative procedures referring to the
use of the Diligent account for distributing information to Risk
Management Subcommittee Members would be removed, as this procedure
would not be needed for Risk Advisory Working Group members as the
Diligent information distribution system will not be used for the Risk
Advisory Working Group. Certain reference to ICC websites would also be
updated.
VI. Operating Agreement
ICC would amend and restate its Operating Agreement (the Sixth
Amended and Restated Operating Agreement would now be the Seventh
Amended and Restated Operating Agreement) to conform to the amendments
to the Rules, Framework and Playbook as detailed above. The amendments
would delete any reference
[[Page 72541]]
to the Advisory Committee, including Section 3.12 in its entirety
(which describes the establishment and composition of the Advisory
Committee), as the Advisory Committee is dormant. The Advisory
Committee's former function of soliciting feedback from Non-Participant
Parties will now be accomplished by the expansion of the Risk Committee
to include representatives of Non-Participant Parties and the creation
of the Risk Advisory Working Group (whose members will represent both
Participants and Non-Participant Parties), as discussed above. Given
the proposed addition of two Non-Participant Party representatives on
the Risk Committee, and a minimum of two Non-Participant Party
representatives on the Risk Advisory Working Group, ICC believes the
proposed revisions will increase the opportunities for Non-Participant
Parties to participate in ICC's formal governance structure as compared
to the dormant Advisory Committee (even though the Advisory Committee
may have included more members and even though the Risk Advisory
Working Group does not directly consult with the Board). Furthermore,
the defined ``Buy-Side Firms'' will also be removed as this was only
relevant to Section 3.12.
(b) Statutory Basis
ICE Clear Credit believes that the proposed amendments to the Rules
are consistent with the requirements of Section 17A of the Securities
Exchange Act of 1934 (the ``Act'') \8\ and the regulations thereunder
applicable to it. In particular, Section 17A(b)(3)(F) of the Act \9\
requires, among other things, that the rules of a clearing agency be
designed to promote the prompt and accurate clearance and settlement of
securities transactions and, to the extent applicable, derivative
agreements, contracts, and transactions, the safeguarding of securities
and funds in the custody or control of the clearing agency or for which
it is responsible, and the protection of investors and the public
interest.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78q-1.
\9\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
The proposed amendments are designed to reflect the expansion of
the Risk Committee to include representatives of Non-Participant
Parties, and the establishment of the newly formed Risk Advisory
Working Group, consistent with requirements under CFTC regulations. The
amendments would also provide for the elimination of the Risk
Management Subcommittee, which ICC believes is unnecessary as the
relevant responsibilities can and should be performed by the Risk
Committee. In ICC's view, the amendments will facilitate the ability of
ICC to consult with relevant stakeholders and interested parties with
respect to matters affecting the risk profile of the clearing house.
Thus, the proposed amendments enhance the overall risk management of
ICE Clear Credit and are consistent with the prompt and accurate
clearance and settlement of securities transactions and derivatives
agreements, contracts and transactions, the safeguarding of securities
and funds which are in the custody or control of ICC or for which it is
responsible, and the protection of investors and the public interest in
the operation of clearing services, within the meaning of Section
17A(b)(3)(F) of the Act.\10\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
The proposed amendments are also consistent with relevant
provisions of Rule 17ad-22. Rule 17ad-22(e)(3)(i) \11\ provides that
the ``covered clearing agency shall establish, implement, maintain and
enforce written policies and procedures reasonably designed to, as
applicable [. . .] [m]aintain a sound risk management framework that''
among other matters identifies, measures, monitors and manages the
range of risks that it faces. The amendments ensure that ICC Board
continues to receive and consider feedback from the Risk Committee that
may materially affect ICC's risk profile and expands the Risk Committee
to include participation by Non-Participant Appointees to provide
additional perspectives from stakeholders on such matters. The
amendments would also reflect the creation of the Risk Advisory Working
Group, including the selection process and governance procedures of the
group to ensure that it functions effectively. The Risk Advisory
Working Group is intended to provide advice to ICC with respect to
matters that could materially affect its risk profile. The amendments
would thus strengthen and enhance ICC's risk management more generally.
In ICE Clear Credit's view, the amendments are therefore consistent
with the requirements of Rule 17ad-22(e)(3)(i).\12\
---------------------------------------------------------------------------
\11\ 17 CFR 240.17ad-22(e)(3)(i).
\12\ 17 CFR 240.17ad-22(e)(3)(i).
---------------------------------------------------------------------------
Rule 17ad-22(e)(2) provides that the ``covered clearing agency
shall establish, implement, maintain and enforce written policies and
procedures reasonably designed to, as applicable [. . .] [p]rovide for
governance arrangements that are [c]lear and transparent'' \13\ and
``[c]onsider the interests of participants' customers . . . and other
relevant stakeholders of the covered clearing agency''.\14\ The
proposed amendments are intended to enhance the Risk Committee
structure to provide for feedback on topics affecting risk management
generally and to expand the committee composition to include
representatives of Non-Participant Parties, to better facilitate
consideration of the interests of participants' customers. The
amendments also establish the Risk Advisory Working Group to provide
for further consultation with interested stakeholders on risk matters.
The amendments also clarify the responsibilities of the Board with
respect to consultation with the Risk Committee and Risk Advisory
Working Group with respect to risk matters. In ICE Clear Credit's view,
the amendments to the Rules are therefore consistent with the
requirements of Rule 17ad-22(e)(2).\15\
---------------------------------------------------------------------------
\13\ 17 CFR 240.17ad-22(e)(2)(i).
\14\ 17 CFR 240.17ad-22(e)(2)(vi).
\15\ 17 CFR 240.17 Ad-22(e)(2).
---------------------------------------------------------------------------
(B) Clearing Agency's Statement on Burden on Competition
ICE Clear Credit does not believe the proposed amendments would
have any impact, or impose any burden, on competition not necessary or
appropriate in furtherance of the purposes of the Act. The amendments
are being adopted to clarify certain matters relating to the operation
of its Risk Committee and related risk advisory arrangements. The
amendments do not otherwise change the rights and responsibilities of
ICC or its Participants. Accordingly, ICE Clear Credit does not believe
the amendments would affect the costs of clearing, the ability of
market participants to access clearing, or the market for clearing
services generally. Therefore, ICE Clear Credit does not believe the
proposed rule change imposes any burden on competition that is
inappropriate in furtherance of the purposes of the Act.
(C) Clearing Agency'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.
[[Page 72542]]
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
(A) by order approve or disapprove such proposed rule change, or
(B) institute proceedings to determine whether the proposed rule
change should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, security-based swap submission, or advance notice is consistent
with the Act. Comments may be submitted by any of the following
methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking);
or
Send an email to [email protected]. Please include
file number SR-ICC-2024-009 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities and
Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-ICC-2024-009. 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 website (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking). Copies of the
submission, all subsequent amendments, all written statements with
respect to the proposed rule change, security-based swap submission, or
advance notice that are filed with the Commission, and all written
communications relating to the proposed rule change, security-based
swap submission, or advance notice 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
website 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 a.m. and 3 p.m. Copies of such filings will
also be available for inspection and copying at the principal office of
ICE Clear Credit and on ICE Clear Credit's website at https://www.ice.com/clear-credit/regulation.
Do not include personal identifiable information in submissions;
you should submit only information that you wish to make available
publicly. We may redact in part or withhold entirely from publication
submitted material that is obscene or subject to copyright protection.
All submissions should refer to file number SR-ICC-2024-009 and should
be submitted on or before September 26, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-19878 Filed 9-4-24; 8:45 am]
BILLING CODE 8011-01-P