[Federal Register Volume 90, Number 89 (Friday, May 9, 2025)]
[Notices]
[Page 19755]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08116]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102986; File No. SR-FICC-2025-005]


Self-Regulatory Organizations; Fixed Income Clearing Corporation; 
Notice of Designation of Longer Period for Commission Action on 
Proposed Rule Change To Adopt an Intraday Mark-To-Market Charge at GSD

May 5, 2025.
    On March 14, 2025, Fixed Income Clearing Corporation (``FICC''), 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change SR-FICC-2025-005 (``Proposed Rule Change''), 
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 \2\ thereunder to adopt an Intraday Mark-
to-Market Charge at FICC's Government Securities Division (``GSD'').\3\ 
The Proposed Rule Change was published for public comment in the 
Federal Register on March 27, 2025.\4\ The Commission has received 
comments regarding the substance of the changes proposed in the 
Proposed Rule Change.\5\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Notice of Filing, infra note 4, at 90 FR 13965.
    \4\ Securities Exchange Act Release No. 102705 (Mar. 21, 2025), 
90 FR 13965 (Mar. 27, 2025)(File No. SR-FICC-2025-005)(``Notice of 
Filing'').
    \5\ Comments on the Proposed Rule Change are available at 
https://www.sec.gov/comments/sr-ficc-2025-005/srficc2025005.htm.
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    Section 19(b)(2) 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\
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    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 15 U.S.C. 78s(b)(2)(ii).
    \8\ Id.
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    The 45th day after publication of the Notice of Filing is May 11, 
2025. 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 act 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 June 25, 2025, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove proposed rule change SR-FICC-2025-
005.
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    \9\ See note 6, supra.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-08116 Filed 5-8-25; 8:45 am]
BILLING CODE 8011-01-P