30 Day Notice

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Federal Register / Vol. 85, No. 164 / Monday, August 24, 2020 / Notices

them consistent with Exchange Act Rule
17Ad–22(e)(16).18
Moreover, and as noted above,
provisions in Exchange Act Rules
17Ad–22(e)(7) and (9) also promote the
use of central bank services by a covered
clearing agency to conduct money
settlements,19 satisfy requirements
regarding custody of qualifying liquid
resources 20 and enhance management
of liquidity risk.21 Accordingly,
providing OCC with clear authority to
use its Federal Reserve Bank Account to
custody Specified Cash Margin Assets
that are non-customer margin assets and
cash Clearing Fund contributions at the
same time is generally consistent with
these provisions.
The proposed rule change is not
inconsistent with the existing rules of
OCC, including any other rules
proposed to be amended.
(B) Clearing Agency’s Statement on
Burden on Competition

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Section 17A(b)(3)(I) of the Exchange
Act 22 requires that the rules of a
clearing agency not impose any burden
on competition not necessary or
appropriate in furtherance of the
purposes of the Exchange Act. OCC does
not believe that the proposed rule
change would impact or impose any
burden on competition. The proposed
rule change is designed to facilitate
OCC’s ability to appropriately safeguard
Specified Cash Margin Assets that are
non-customer margin assets and cash
Clearing Fund contributions using
OCC’s Federal Reserve Bank Account.
The proposed rule change would apply
equally to all Clearing Members in that
all Specified Cash Margin Assets that
are non-customer margin assets and
cash Clearing Fund contributions of
Clearing Members would be eligible to
be maintained in OCC’s Federal Reserve
Bank Account. Therefore, the proposal
does not favor or disfavor any Clearing
Member or group of Clearing Members
compared to others.
For the foregoing reasons, OCC
believes that the proposed rule change
is in the public interest, would be
consistent with the requirements of the
Exchange Act applicable to clearing
agencies, and would not impact or
impose a burden on competition.
18 17

CFR 240.17Ad–22(e)(16).
CFR 240.17Ad–22(e)(9).
20 17 CFR 240.17Ad–22(a)(14)(i), (e)(7)(ii).
21 17 CFR 240.17Ad–22(e)(7)(iii).
22 15 U.S.C. 78q–1(b)(3)(I).
19 17

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(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change Received from Members,
Participants or Others
Written comments on the proposed
rule change were not and are not
intended to be solicited with respect to
the proposed rule change and none have
been received.
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
the 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 is consistent with the Exchange
Act. Comments may be submitted by
any of the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
OCC–2020–010 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–OCC–2020–010. 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 (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

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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
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at the principal
office of OCC and on OCC’s website at
https://www.theocc.com/about/
publications/bylaws.jsp.
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 SR–OCC–2020–010 and should
be submitted on or before September 14,
2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.23
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–18461 Filed 8–21–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–203, OMB Control No.
3235–0195]

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 17Ab2–1, Form CA–1.

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 17Ab2–1 (17 CFR 240.17Ab2–1)
and Form CA–1: Registration of Clearing
Agencies (17 CFR 249b.200) under the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) (15 U.S.C. 78a et seq.).
Rule 17Ab2–1 and Form CA–1 require
clearing agencies to register with the
23 17

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CFR 200.30–3(a)(12).

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Federal Register / Vol. 85, No. 164 / Monday, August 24, 2020 / Notices
Commission and to meet certain
requirements with regard to, among
other things, the clearing agency’s
organization, capacities, and rules. The
information is collected from the
clearing agency upon the initial
application for registration on Form
CA–1. Thereafter, information is
collected by amendment to the initial
Form CA–1 when changes in
circumstances that render certain
information on Form CA–1 inaccurate,
misleading, or incomplete necessitate
modification of the information
previously provided to the Commission.
The Commission uses the information
disclosed on Form CA–1 to (i)
determine whether an applicant meets
the standards for registration set forth in
Section 17A of the Exchange Act, (ii)
enforce compliance with the Exchange
Act’s registration requirement, and (iii)
provide information about specific
registered clearing agencies for
compliance and investigatory purposes.
Without Rule 17Ab2–1, the Commission
could not perform these duties as
statutorily required.
The Commission staff estimates that
the average Form CA–1 requires
approximately 340 hours to complete
and submit for approval, and that on
average, the Commission receives one
application each year. The Commission
staff estimates that completion of an
initial Form CA–1 will result in an
internal cost of compliance of
approximately $132,140 per year. The
Commission staff estimates that it
receives one amendment per year, and
that an amendment requires
approximately 60 hours of the exempt
or registered clearing agency’s staff time.
The Commission staff estimates that
amendment of a filed Form CA–1 will
result in an internal cost of compliance
of approximately $25,480 per year.
Therefore, the aggregate hour burden is
approximately 400 hours per year (340
+ 60) and the aggregate internal cost of
compliance is approximately $157,620
per year ($132,140 + $25,480).
The external costs associated with
work on Form CA–1 include fees
charged by outside lawyers and
accountants to assist the applicant or
registrant to collect and prepare the
information sought by the form (though
such consultations are not required by
the Commission). The Commission staff
estimates that these external costs are
more likely when novel questions arise
under a new application, rather than
under periodic review and amendment.
The staff estimates an annual external
cost of 45 hours of an Attorney’s time
(estimated at $420 per hour) and 10
hours of a Senior Accountant’s time
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preparation of the Form CA–1, resulting
in an aggregate external cost of
approximately $21,090 per year (18,900
+ 2,190).
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. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to (i) www.reginfo.gov/public/do/
PRAMain and (ii) David Bottom,
Director/Chief Information Officer,
Securities and Exchange Commission, c/
o Cynthia Roscoe, 100 F Street NE,
Washington, DC 20549, or by sending an
email to: [email protected].
Dated: August 19, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–18498 Filed 8–21–20; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89607; File No. SR–
NYSEArca–2020–75]

Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending the NYSE Arca
Equities Fees and Charges
August 18, 2020.

Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on August
12, 2020, NYSE Arca, Inc. (‘‘NYSE
Arca’’ or ‘‘Exchange’’) 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
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
1 15

U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15

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52179

I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
NYSE Arca Equities Fees and Charges
(‘‘Fee Schedule’’) to (1) adopt a step up
tier for ETP Holders adding liquidity in
Non-Displayed Limit Orders in Tapes A,
B and C securities with a per share price
at or above $1.00; (2) adopt a step up
tier for ETP Holders adding liquidity in
Round Lots and Odd Lots in Tapes A,
B and C securities with a per share price
below $1.00; and (3) amend the base
rate for adding and removing liquidity
in Round Lots and Odd Lots in Tapes
A, B and C securities with a per share
price below $1.00. The proposed rule
change is available on the Exchange’s
website at www.nyse.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization 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 those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
Fee Schedule to (1) adopt a step up tier
for ETP Holders 4 adding liquidity in
Non-Displayed Limit Orders 5 in Tapes
A, B and C securities with a per share
price at or above $1.00; (2) adopt a step
up tier for ETP Holders adding liquidity
in Round Lots and Odd Lots in Tapes
A, B and C securities with a per share
price below $1.00; and (3) amend the
base rate for adding and removing
liquidity in Round Lots and Odd Lots in
Tapes A, B and C securities with a per
share price below $1.00.
The proposed changes respond to the
current competitive environment where
4 All references to ETP Holders in connection
with this proposed fee change include Market
Makers.
5 A Non-Displayed Limit Order is a limit order
that is not displayed and does not route. See NYSE
Arca Rule 7.31–E(d)(2).

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