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The Securities and Exchange Commission approved changes proposed by ICE Clear Europe Limited regarding their Credit Default Swap (CDS) Procedures and CDS Default Management Policy. These changes clarify how Clearing Members join the CDS Default Committee and allow for certain members to postpone their participation if necessary. Additionally, updates were made to the confidentiality requirements, the limits on liability for committee participants, and the procedures for testing and reviewing default management processes. These amendments aim to enhance the effectiveness of managing defaults and ensure the prompt and accurate settlement of transactions.

The Securities and Exchange Commission published a notice regarding proposed amendments by ICE Clear Europe Limited to its CDS Procedures and CDS Default Management Policy. These changes aim to clarify the requirements for a Clearing Member to be eligible for the CDS Default Committee and to update procedures for managing defaults. The amendments include enhancing participant eligibility, confidentiality obligations, and default management testing procedures. ICE Clear Europe believes these updates will improve default management capabilities and enhance market stability without imposing unnecessary burdens on competition.

The Securities and Exchange Commission received a proposed rule change from ICE Clear Europe to amend Part BB of its Delivery Procedures, specifically concerning Containerised White Sugar futures contracts. The amendment aims to clarify the delivery specifications by stating that these contracts apply to sugar from any origin that is current as of the first day of the delivery period. ICE Clear Europe believes these changes will improve the identification process for sugar eligible for delivery without impacting the competition dynamics among market participants. No external comments on the proposed changes have been solicited or received.

ICE Clear Europe Limited submitted a proposed rule change to the Securities and Exchange Commission (SEC) to update its rules related to the CDS Default Committee. On December 31, 2020, they filed a Partial Amendment No. 1 to provide additional flexibility for a Clearing Member to postpone participation in the committee if needed, due to resource constraints or other valid reasons. The SEC is seeking public comments on this amendment until February 2, 2021, before deciding whether to approve or disapprove the changes. All comments will be available on the SEC's website, with personal information made public as submitted.

ICE Clear Europe Limited has submitted a proposal to amend its Delivery Procedures, introducing a new section to facilitate the delivery of Murban Crude Oil Futures Contracts traded on ICE Futures Abu Dhabi. These changes, effective immediately, aim to ensure proper delivery and settlement procedures are in place, which comply with existing regulatory standards. The proposed amendments do not appear to affect competition or clearing member costs and have not received public comments. Public feedback is welcome by March 9, 2021, as part of the Securities and Exchange Commission's review process.