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Daily Rules, Proposed Rules, and Notices of the Federal Government

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-64707; File No. 600-23]

Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Order Approving an Extension of Temporary Registration as a Clearing Agency

The Securities and Exchange Commission ("Commission") is publishing this notice and order to solicit comments from interested persons and to extend the Fixed Income Clearing Corporation's ("FICC") temporary registration as a clearing agency through June 30, 2013.1

On February 2, 1987, pursuant to Sections 17A(b) and 19(a) of the Securities Exchange Act of 1934 ("Act")2 and Rule 17Ab2-1 promulgated thereunder,3 the Commission granted the MBS Clearing Corporation ("MBSCC") registration as a clearing agency on a temporary basis for a period of eighteen months.4 The Commission subsequently extended MBSCC's registration through June 30, 2003.5

On May 24, 1988, pursuant to Sections 17A(b) and 19(a) of the Act6 and Rule 17Ab2-1 promulgated thereunder,7 the Commission granted the Government Securities Clearing Corporation ("GSCC") registration as a clearing agency on a temporary basis for a period of three years.8 The Commission subsequently extended GSCC's registration through June 30, 2003.9

On January 1, 2003, MBSCC was merged into GSCC, and GSCC was renamed FICC.10 The Commission subsequently extended FICC's temporary registration through June 30, 2011.11

On April 11, 2011, FICC requested that the Commission extend FICC's temporary registration until such time as the Commission is prepared to grant FICC permanent registration.12

On March 12, 2008, FICC filed a proposed rule change pursuant to Section 19(b)(1) of the Act and Rule 19b-4 thereunder to introduce central counterparty ("CCP") and guarantee settlement services to its MBS Division.13 Currently, FICC acts as the CCP and provides guarantee settlement services for its Government Securities Division members' eligible U.S. Government securities transactions but does not act as the CCP or provide guarantee settlement services for its MBS Division members' eligible mortgage-backed securities transactions.

Pursuant to this Notice and Order, the Commission is extending FICC's temporary registration as a clearing agency in order that FICC may continue to operate as a registered clearing agency and may continue to provide uninterrupted clearing and settlement services to its users. The Commission will consider permanent registration of FICC at a future date after the Commission has acted upon FICC's proposed rule change to introduce CCP and guarantee settlement services to its MBS Division.

Interested persons are invited to submit written data, views, and arguments concerning the foregoing. 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 e-mail torule-comments@sec.gov.Please include File Number 600-23 on the subject line.

Paper Comments

* Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number 600-23. This file number should be included on the subject line if e-mail 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 Web site (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 Commission's Public Reference Section, 100 F Street, NE., Washington, DC 20549 on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of FICC and on FICC's Web site athttp://www.ficc.com.All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number 600-23 and should be submitted on or before July 15, 2011.

It is therefore orderedthat FICC's temporary registration as a clearing agency (File No. 600-23) be and hereby is extended through June 30, 2013.

For the Commission by the Division of Trading and Markets pursuant to delegated authority.14

1417 CFR 200.30-3(a)(50)(i).

Cathy H. Ahn, Deputy Secretary.
ACTION: 13The filed proposed rule change can be viewed athttp://www.dtcc.com/downloads/legal/rule_filings/2008/ficc/2008-01.pdf. See alsoFICC White Paper: "A Central Counterparty For Mortgage-Backed Securities: Paving The Way" athttp://www.dtcc.com/downloads/leadership/whitepapers/ccp.pdf.