Federal Register - May 7, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 87 / Friday, May 7, 2021 / Notices 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:
FR Doc. 202109646 Filed 5621; 8:45 am
Electronic Comments
BILLING CODE 801101P
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
NASDAQ2021025 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 SRNASDAQ2021025. 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 change 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 Commissions Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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 SRNASDAQ2021025 and should be submitted on or before May 28, 2021.
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For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.19
J. Matthew DeLesDernier, Assistant Secretary.
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SECURITIES AND EXCHANGE
COMMISSION
Release No. 3491740; File No. SRICEEU
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the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. ICE
Clear Europe has prepared summaries, set forth in sections A, B, and C
below, of the most significant aspects of such statements.
A Clearing Agencys Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change a Purpose
Self-Regulatory Organizations; ICE
Clear Europe Limited; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Amendments to the ICE Clear Europe Delivery Procedures May 3, 2021.
Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on April 28, 2021, ICE Clear Europe Limited ICE
Clear Europe or the Clearing House filed with the Securities and Exchange Commission Commission the proposed rule changes described in Items I, II and III below, which Items have been prepared primarily by ICE
Clear Europe. ICE Clear Europe filed the proposed rule change pursuant to Section 19b3A of the Act 3 and Rule 19b4f4ii 4 thereunder, such that the proposed rule was immediately effective upon filing with the Commission. 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 principal purpose of the proposed amendments is for ICE Clear Europe to amend its Delivery Procedures the Delivery Procedures in connection with the addition of delivery terms relating to the Ice Deliverable UK Emissions Contracts.5
II. Clearing Agencys Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, ICE
Clear Europe included statements concerning the purpose of and basis for 19 17
CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
3 15 U.S.C. 78sb3a.
4 17 CFR 240.19b4f4ii.
5 Capitalized terms used but not defined herein have the meaning specified in the ICE Clear Europe Clearing Rules the Rules.
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ICE Clear Europe is proposing to amend its Delivery Procedures to add a new Part A1 regarding delivery procedures relating to a new ICE
Deliverable UK Emissions Futures Contracts ICE Deliverable UK
Emissions Contracts, which include ICE Futures UKA Auction Contracts, ICE Futures UKA Futures Contracts and ICE Futures UKA Daily Contracts, that would be traded on ICE Futures Europe and cleared by ICE Clear Europe.
Proposed Part A1 would set out the delivery specifications and procedures for deliveries under the ICE Deliverable UK Emissions Contracts.
Proposed Part A1 would apply to ICE
Deliverable UK Emissions Contracts which go to physical delivery on the expiry date and provides that deliveries under ICE Deliverable UK Emissions Contracts are effected upon i in the case of Seller effecting delivery, the completion of the transfer of the relevant UK Carbon Emissions Allowances, or UKAs, from the relevant Nominating Holding Account of the Seller to the relevant Nominating Holding Account of the Clearing House, and ii in the case of the Buyer taking delivery, the completion of the transfer of the relevant UKAs from the Nominating Holding Account of the Clearing House to the relevant Nominating Holding Account of the Buyer. Such delivery takes place during the Delivery Period for the relevant Emissions Contracts in accordance with the ICE Futures Europe Rules. UKAs to be delivered must conform to the specifications in ICE Futures Europe Rules and the registry through which delivery may be made.
Proposed Part A1 would address certain the responsibilities of the Clearing House and relevant parties for delivery under the ICE Deliverable UK
Emissions Contracts. Routine delivery of ICE UKA Auction Contracts would be based on submission of delivery intentions via the Clearing House ECS
system.
Proposed Part A1 would further specify the pricing for delivery under
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