30 Day Notice

Federal Register / Vol. 84, No. 224 / Wednesday, November 20, 2019 / Notices
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rule 602, SEC File No. 270–404, OMB
Control No. 3235–0461

Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 602 of Regulation NMS (17 CFR
240.602), under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.).
Rule 602 of Regulation NMS,
Dissemination of Quotations in NMS
securities, contains two related
collections. The first collection of
information is found in Rule 602(a).1
This third-party disclosure requirement
obligates each national securities
exchange and national securities
association to make available to
quotation vendors for dissemination to
the public the best bid, best offer, and
aggregate quotation size for each
‘‘subject security,’’ as defined under the
Rule. The second collection of
information is found in Rule 602(b).2
This disclosure requirement obligates
any exchange member and over-thecounter (‘‘OTC’’) market maker that is a
‘‘responsible broker or dealer,’’ as
defined under the Rule, to communicate
to an exchange or association their best
bids, best offers, and quotation sizes for
subject securities.3
It is anticipated that twenty-three
respondents, consisting of twenty-two
national securities exchanges and one
national securities association, will
collectively respond approximately
CFR 242.602(a).
CFR 242.602(b).
3 Under Rule 602(b)(5), electronic
communications networks (‘‘ECNs’’) have the
option of reporting to an exchange or association for
public dissemination, on behalf of customers that
are OTC market makers or exchange market makers,
the best-priced orders and the full size for such
orders entered by market makers on the ECN, to
satisfy such market makers’ reporting obligation
under Rule 602(b). Since this reporting requirement
is an alternative method of meeting the market
makers’ reporting obligation, and because it is
directed to nine or fewer persons (ECNs), this
collection of information is not subject to OMB
review under the Paperwork Reduction Act
(‘‘PRA’’).

5,780,026,336,314 times per year
pursuant to Rule 602(a) at 18.22
microseconds per response, resulting in
a total annual burden of approximately
30,590 hours. It is anticipated that no
respondents will have a reporting
burden pursuant to Rule 602(b).4
Thus, the aggregate third-party
disclosure burden under Rule 602 is
30,590 hours annually which is
comprised of 30,590 hours relating to
Rule 602(a) and 0 hours relating to Rule
602(b).
Compliance with Rule 602 of
Regulation NMS is mandatory and the
information collected is made available
to the public.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
[email protected]; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner,100 F Street NE, Washington,
DC 20549, or by sending an email to:
[email protected]. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: November 14, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–25097 Filed 11–19–19; 8:45 am]
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4 For the reporting obligation under Rule 602(b),
the respondents are exchange members and OTC
market makers. The Commission believes that
communication of quotations through an
exchange’s electronic trading system effectively
means that exchange members currently have no
reporting burden under Rule 602(b) for these
quotations. The Commission also believes that there
are presently no OTC market makers that quote
other than on an exchange.

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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87536; File No. SR–LCH
SA–2019–010]

Self-Regulatory Organizations; LCH
SA; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Amendments to
LCH SA’s Fee Grid for Non Cash
Collateral
November 14, 2019.

Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2
notice is hereby given that on October
31, 2019, Banque Centrale de
Compensation, which conducts
business under the name LCH SA (‘‘LCH
SA’’), filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change described in
Items I, II and III below, which Items
have been prepared primarily by LCH
SA. LCH SA filed the proposed rule
change pursuant to Section 19(b)(3)(A)
of the Act,3 and Rule 19b–4(f)(2) 4
thereunder, so that the proposed rule
change was 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 Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
Banque Centrale de Compensation,
which conducts business under the
name LCH SA (‘‘LCH SA’’), is proposing
to review and modify its current fee grid
applied for Non Cash Collateral (NCC)
across all clearing services including
CDSClear.
The text of the proposed rule change
has been annexed as Exhibit 5.5
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission,
LCH SA included statements concerning
the purpose of and basis for 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. LCH SA has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of these statements.
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(2).
5 All capitalized terms not defined herein have
the same definition as the Rule Book, Supplement
or Procedures, as applicable.
2 17

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