Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to the Operational Risk Management Framework

ory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the Operational Risk Management Framework; Securities Exchange Act Release No. 34-105606 (June 3, 2026), 91 FR 34681 (June 8, 2026) (SR-ICC-2026-004) (``Notice''). --------------------------------------------------------------------------- II. Description of the Proposed Rule Change ICC is registered with the Commission as a clearing agency for the purpose of clearing Credit Default Swap (``CDS'') [[Page 45307]] contracts.\4\ ICC's parent company is Intercontinental Exchange, Inc. (``ICE''), which also provides core services to ICC that directly support the delivery of clearance and settlement functionality or other purposes material to ICC's business as a registered clearing agency. In its role as a CDS clearing agency, ICC faces operational risks stemming from the breakdown of systems and processes that that would impair ICC's ability to complete settlements or ICC's internal business operations. The ORMF outlines ICC's risk assessment and oversight program, which aims to address such operational risks, including by reducing operational incidents, encouraging process and control improvement, bringing transparency to operational performance standard monitoring, and fulfilling regulatory obligations. --------------------------------------------------------------------------- \4\ Capita