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Federal Register / Vol. 86, No. 39 / Tuesday, March 2, 2021 / Notices The Commission believes that the proposed rule change would only affect transfers between different bank accounts of ICE Clear Europe including TARGET2 PM Accounts, not transfers involving payments to or from Clearing Members. As a result, the Commission does not believe the proposed rule change would have any effect on the safeguarding of funds or securities in the custody or control of ICE Clear Europe or any other rights or obligations of ICE Clear Europe, Clearing Members, Sponsored Principals or other persons using the clearing service. Accordingly, the Commission believes the proposed rule change would not significantly affect the protection of investors or the public interest.
Moreover, the Commission believes the proposed rule change would not impose any new obligations on Clearing Members, affect significantly the rights of Clearing Members, or affect the cost of clearing or access to clearing for market participants. Accordingly, the Commission believes the proposed rule change would not impose any significant burden on competition.
Because the Commission believes the proposed rule change would not i significantly affect the protection of investors or the public interest and ii impose any significant burden on competition, the Commission believes that waiver of the 30-day operative delay would not itself significantly affect the protection of investors or the public interest and impose any significant burden on competition.
Moreover, the Commission believes that the delay of the operation of the proposed rule change through the 30day operative delay could impede ICE
Clear Europes compliance with its requirements under EMIR. As ICE Clear Europe notes, the proposed rule change would allow ICE Clear Europe to establish a TARGET2ECB account, which is necessary in order to further compliance by ICE Clear Europe with the policy underlying Article 252b of EMIR applicable to a tier 2 TCCCP in light of the United Kingdoms exit from the European Union. ICE Clear Europe seeks to establish such an account to replace its existing TARGET2NL
account by the end of March 2021. Any delay in implementing the amendments, and establishing the TARGET2ECB
account, could affect ICE Clear Europes ability to comply with applicable EU
requirements and maintain recognition.
Thus, the Commission believes that waiving the 30-day operative delay would allow ICE Clear Europe to comply with applicable EU
requirements and maintain recognition, thus providing certainty to ICE Clear
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Europe and its Clearing Members, while not significantly affecting the protection of investors or the public interest and imposing any significant burden on competition. Therefore, the Commission designates the proposed rule change as operative upon filing.19
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.
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 Commissions internet comment form http www.sec.gov/
rules/sro.shtml or Send an email to rule-comments@
sec.gov. Please include File Number SR
ICEEU2021004 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRICEEU2021004. 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 Commissions internet website 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, 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 Commissions Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the 19 As noted, ICE Clear Europe satisfied the fiveday pre-filing requirement. For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule changes impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.

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hours of 10:00 a.m. and 3:00 p.m.
Copies of such filings will also be available for inspection and copying at the principal office of ICE Clear Europe and on ICE Clear Europes website at https www.theice.com/clear-europe/
regulation. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SRICEEU
2021004 and should be submitted on or before March 23, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202104221 Filed 3121; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
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Release No. 3491199; File No. SROCC
2021003

Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed Rule Change To Establish OCCs Persistent Minimum Skin-in-the-Game February 24, 2021.

Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Exchange Act or Act,1 and Rule 19b4 thereunder,2 notice is hereby given that on February 10, 2021, the Options Clearing Corporation OCC or Corporation filed with the Securities and Exchange Commission SEC or Commission the proposed rule change as described in Items I, II, and III below, which Items have been prepared by OCC. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
I. Clearing Agencys Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change would amend OCCs Rules, Capital Management Policy, and certain other OCC policies to establish a persistent minimum level of OCCs own prefunded financial resources commonly referred to as skin-in-the-game that OCC would contribute to cover default 20 17

CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
1 15

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