Consolidated Tape Association; Notice of Filing and Immediate Effectiveness of the Twenty-Fourth Charges Amendment to the Second Restatement of the CTA Plan and the Fifteenth Charges Amendment to the Restated CQ Plan, 48356-48357 [2018-20661]
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48356
Federal Register / Vol. 83, No. 185 / Monday, September 24, 2018 / Notices
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 15 of the Act to
determine whether the proposed rule
change should be approved or
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 Act.
Comments may be submitted by any of
the following methods:
amozie on DSK3GDR082PROD with NOTICES1
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
Nasdaq–2018–074 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–Nasdaq–2018–074. 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 (https://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 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 the
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
15 15 U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
17:40 Sep 21, 2018
Jkt 244001
filing also will be available for
inspection and copying at the principal
office of the Exchange. 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–Nasdaq–2018–074, and
should be submitted on or before
October 15, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–20660 Filed 9–21–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84194; File No. SR–CTA/
CQ–2018–03]
Consolidated Tape Association; Notice
of Filing and Immediate Effectiveness
of the Twenty-Fourth Charges
Amendment to the Second
Restatement of the CTA Plan and the
Fifteenth Charges Amendment to the
Restated CQ Plan
September 18, 2018.
Pursuant to Section 11A of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 608 thereunder,2
notice is hereby given that on August
27, 2018, the Consolidated Tape
Association (‘‘CTA’’) Plan participants
(‘‘Participants’’) 3 filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposal to amend
the Second Restatement of the CTA Plan
and the Restated CQ Plan (‘‘Plans’’). The
amendment represents the twentyfourth Charges Amendment to the CTA
Plan and the fifteenth Charges
Amendment to the CQ Plan
(‘‘Amendments’’). The Participants seek
to amend the Plans’ fee schedules
(applicable to Network A and Network
B) to rescind the changes made to the
Non-Display Use and the access fee
16 17
CFR 200.30–3(a)(12).
U.S.C. 78k–1.
2 17 CFR 242.608.
3 The Participants are: Cboe BYX Exchange, Inc.;
Cboe BZX Exchange, Inc.; Cboe EDGA Exchange,
Inc.; Cboe EDGX Exchange, Inc.; Cboe Exchange,
Inc.; Chicago Stock Exchange, Inc.; Financial
Industry Regulatory Authority, Inc.; Investors’
Exchange LLC; Nasdaq BX, Inc.; Nasdaq ISE, LLC;
Nasdaq PHLX Inc.; The Nasdaq Stock Market LLC;
New York Stock Exchange LLC; NYSE American
LLC; NYSE Arca, Inc.; NYSE National, Inc.
1 15
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
schedules adopted pursuant to
amendments filed in October 2017
(‘‘2017 Amendments’’).4 As a result of
the Participants’ decision to rescind the
2017 Amendments, the Participants
believe that the stay order issued by the
Commission in connection with the
2017 Amendments and the briefing
schedule set therein are now moot.5
Pursuant to Rule 608(b)(3) under
Regulation NMS,6 the Participants
designate the Amendments as
establishing or changing a fee or other
charge collected on their behalf in
connection with access to, or use of, the
facilities contemplated by the Plans. As
a result, the Amendments are effective
upon filing with the Commission.
The Commission is publishing this
notice to solicit comments from
interested persons on the proposed
Amendments. Set forth in Sections I and
II is the statement of the purpose and
summary of the Amendments, along
with the information required by Rules
608(a) and 601(a) under the Act,
prepared and submitted by the
Participants to the Commission.
I. Rule 608(a)
A. Purpose of the Amendments
As part of the 2017 Amendments, the
Participants amended the definition of
‘‘Non-Display Use’’ in footnote eight of
the Plans’ fee schedules to explicitly
state that any use of data that does not
make data visibly available to a data
recipient on a device would be a NonDisplay Use. The Participants also made
a parallel amendment to footnote two of
the Plans’ fee schedules to state that the
device fee would only be applicable
where the data was visibly available to
the data recipient; any other data use on
a device would be considered NonDisplay Use. The Participants also
amended footnote ten of the Plans’ fee
schedules to clarify when the access fee
was applicable. In particular, the
Participants amended footnote ten in
the Plans’ fee schedules to provide the
access fee would be applicable if: (1)
The data recipient uses the data for nondisplay; or (2) the data recipient
receives the data in such a manner that
the data can be manipulated and
disseminated to one or more devices,
display or otherwise, regardless of
encryption or instructions from the
redistribution vendor regarding who has
authorized access to the data.
4 See Securities Exchange Act Release No. 82072
(November 14, 2017), 82 FR 55137 (November 20,
2017).
5 See Securities Exchange Act Release No. 83755
(July 31, 2018) (‘‘Stay Order’’).
6 17 CFR 242.608(b)(3)(i).
E:\FR\FM\24SEN1.SGM
24SEN1
Federal Register / Vol. 83, No. 185 / Monday, September 24, 2018 / Notices
Although the Participants believed
that the 2017 Amendments would have
a positive effect on competition,
Bloomberg and SIFMA filed denial of
access petitions with the Commission
with respect to the 2017 Amendments.
On July 31, 2018, the Commission
issued an order granting a motion made
by Bloomberg to stay the 2017
Amendments. Having reviewed the Stay
Order, the Participants have decided to
rescind the 2017 Amendments. The
result of the Participants’ decision is to
revert the fee schedule to the form it had
immediately prior to the 2017
Amendments.
B. Governing or Constituent Documents
Not applicable.
C. Implementation of the Amendments
Pursuant to Rule 608(b)(3)(i) under
Regulation NMS, the Participants have
designated the proposed amendment as
establishing or changing fees and are
submitting the amendment for
immediate effectiveness.
D. Development and Implementation
Phases
See Item C above.
The amendments proposed herein do
not impose any burden on competition
that is not necessary or appropriate in
furtherance of the purposes of the Act
because the proposed amendments
simply rescind the 2017 Amendments
and revert the fee schedule to the form
it had immediately prior to the 2017
Amendments.
F. Written Understanding or Agreements
Relating to Interpretation of, or
Participation in, Plan
Not applicable.
amozie on DSK3GDR082PROD with NOTICES1
G. Approval by Sponsors in Accordance
With Plan
Section XII (b)(iii) of the CTA Plan
provides that ‘‘[a]ny addition of any
charge to . . . the charges set forth in
Exhibit E . . . shall be effected by an
amendment to this CTA Plan . . . that
is approved by affirmative vote of not
less than two-thirds of all of the then
voting members of CTA. Any such
amendment shall be executed on behalf
of each Participant that appointed a
voting member of CTA who approves
such amendment and shall be filed with
the SEC.’’ Further, Section IX(b)(iii) of
the CQ Plan provides that ‘‘additions,
deletions, or modifications to any
charges under this CQ Plan shall be
effected by an amendment . . . that is
approved by affirmative vote of two-
17:40 Sep 21, 2018
Jkt 244001
H. Description of Operation of Facility
Contemplated by the Proposed
Amendments
Not applicable.
I. Terms and Conditions of Access
Not applicable.
J. Method of Determination and
Imposition, and Amount of, Fees and
Charges
Not applicable.
K. Method and Frequency of Processor
Evaluation
Not applicable.
L. Dispute Resolution
Not applicable.
II. Rule 601(a)
A. Equity Securities for Which
Transaction Reports Shall Be Required
by the Plan
Not applicable.
E. Analysis of Impact on Competition
VerDate Sep<11>2014
thirds of all the members of the
Operating Committee.’’
The Participants have executed this
Amendment and represent not less than
two-thirds of all of the parties to the
Plan. That satisfies the Plans’
Participant-approval requirements.
B. Reporting Requirements
Not applicable.
C. Manner of Collecting, Processing,
Sequencing, Making Available and
Disseminating Last Sale Information
Not applicable.
D. Manner of Consolidation
Not applicable.
E. Standards and Methods Ensuring
Promptness, Accuracy and
Completeness of Transaction Reports
Not applicable.
F. Rules and Procedures Addressed to
Fraudulent or Manipulative
Dissemination
Not applicable.
G. Terms of Access to Transaction
Reports
Not applicable.
H. Identification of Marketplace of
Execution
Not applicable.
III. Solicitation of Comments
The Commission seeks comment on
the Amendments. Interested persons are
invited to submit written data, views,
and arguments concerning the
foregoing, including whether the
proposed Amendments are consistent
PO 00000
Frm 00084
Fmt 4703
Sfmt 9990
48357
with the Act. Comments may be
submitted by any of the following
methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CTA/CQ–2018–03 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE, Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CTA/CQ–2018–03. 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 (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the Amendments that
are filed with the Commission, and all
written communications relating to the
Amendments 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 Room
on official business days between the
hours of 10:00 a.m. and 3:00 p.m.
Copies of the Amendments also will be
available for inspection and copying at
the principal office of the CTA.
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–CTA/CQ–2018–03
and should be submitted on or before
October 15, 2018.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2018–20661 Filed 9–21–18; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\24SEN1.SGM
24SEN1
]]>Agencies
[Federal Register Volume 83, Number 185 (Monday, September 24, 2018)]
[Notices]
[Pages 48356-48357]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-20661]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84194; File No. SR-CTA/CQ-2018-03]
Consolidated Tape Association; Notice of Filing and Immediate
Effectiveness of the Twenty-Fourth Charges Amendment to the Second
Restatement of the CTA Plan and the Fifteenth Charges Amendment to the
Restated CQ Plan
September 18, 2018.
Pursuant to Section 11A of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 608 thereunder,\2\ notice is hereby given that
on August 27, 2018, the Consolidated Tape Association (``CTA'') Plan
participants (``Participants'') \3\ filed with the Securities and
Exchange Commission (``Commission'') a proposal to amend the Second
Restatement of the CTA Plan and the Restated CQ Plan (``Plans''). The
amendment represents the twenty-fourth Charges Amendment to the CTA
Plan and the fifteenth Charges Amendment to the CQ Plan
(``Amendments''). The Participants seek to amend the Plans' fee
schedules (applicable to Network A and Network B) to rescind the
changes made to the Non-Display Use and the access fee schedules
adopted pursuant to amendments filed in October 2017 (``2017
Amendments'').\4\ As a result of the Participants' decision to rescind
the 2017 Amendments, the Participants believe that the stay order
issued by the Commission in connection with the 2017 Amendments and the
briefing schedule set therein are now moot.\5\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78k-1.
\2\ 17 CFR 242.608.
\3\ The Participants are: Cboe BYX Exchange, Inc.; Cboe BZX
Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.;
Cboe Exchange, Inc.; Chicago Stock Exchange, Inc.; Financial
Industry Regulatory Authority, Inc.; Investors' Exchange LLC; Nasdaq
BX, Inc.; Nasdaq ISE, LLC; Nasdaq PHLX Inc.; The Nasdaq Stock Market
LLC; New York Stock Exchange LLC; NYSE American LLC; NYSE Arca,
Inc.; NYSE National, Inc.
\4\ See Securities Exchange Act Release No. 82072 (November 14,
2017), 82 FR 55137 (November 20, 2017).
\5\ See Securities Exchange Act Release No. 83755 (July 31,
2018) (``Stay Order'').
---------------------------------------------------------------------------
Pursuant to Rule 608(b)(3) under Regulation NMS,\6\ the
Participants designate the Amendments as establishing or changing a fee
or other charge collected on their behalf in connection with access to,
or use of, the facilities contemplated by the Plans. As a result, the
Amendments are effective upon filing with the Commission.
---------------------------------------------------------------------------
\6\ 17 CFR 242.608(b)(3)(i).
---------------------------------------------------------------------------
The Commission is publishing this notice to solicit comments from
interested persons on the proposed Amendments. Set forth in Sections I
and II is the statement of the purpose and summary of the Amendments,
along with the information required by Rules 608(a) and 601(a) under
the Act, prepared and submitted by the Participants to the Commission.
I. Rule 608(a)
A. Purpose of the Amendments
As part of the 2017 Amendments, the Participants amended the
definition of ``Non-Display Use'' in footnote eight of the Plans' fee
schedules to explicitly state that any use of data that does not make
data visibly available to a data recipient on a device would be a Non-
Display Use. The Participants also made a parallel amendment to
footnote two of the Plans' fee schedules to state that the device fee
would only be applicable where the data was visibly available to the
data recipient; any other data use on a device would be considered Non-
Display Use. The Participants also amended footnote ten of the Plans'
fee schedules to clarify when the access fee was applicable. In
particular, the Participants amended footnote ten in the Plans' fee
schedules to provide the access fee would be applicable if: (1) The
data recipient uses the data for non-display; or (2) the data recipient
receives the data in such a manner that the data can be manipulated and
disseminated to one or more devices, display or otherwise, regardless
of encryption or instructions from the redistribution vendor regarding
who has authorized access to the data.
[[Page 48357]]
Although the Participants believed that the 2017 Amendments would
have a positive effect on competition, Bloomberg and SIFMA filed denial
of access petitions with the Commission with respect to the 2017
Amendments. On July 31, 2018, the Commission issued an order granting a
motion made by Bloomberg to stay the 2017 Amendments. Having reviewed
the Stay Order, the Participants have decided to rescind the 2017
Amendments. The result of the Participants' decision is to revert the
fee schedule to the form it had immediately prior to the 2017
Amendments.
B. Governing or Constituent Documents
Not applicable.
C. Implementation of the Amendments
Pursuant to Rule 608(b)(3)(i) under Regulation NMS, the
Participants have designated the proposed amendment as establishing or
changing fees and are submitting the amendment for immediate
effectiveness.
D. Development and Implementation Phases
See Item C above.
E. Analysis of Impact on Competition
The amendments proposed herein do not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act because the proposed amendments simply rescind the
2017 Amendments and revert the fee schedule to the form it had
immediately prior to the 2017 Amendments.
F. Written Understanding or Agreements Relating to Interpretation of,
or Participation in, Plan
Not applicable.
G. Approval by Sponsors in Accordance With Plan
Section XII (b)(iii) of the CTA Plan provides that ``[a]ny addition
of any charge to . . . the charges set forth in Exhibit E . . . shall
be effected by an amendment to this CTA Plan . . . that is approved by
affirmative vote of not less than two-thirds of all of the then voting
members of CTA. Any such amendment shall be executed on behalf of each
Participant that appointed a voting member of CTA who approves such
amendment and shall be filed with the SEC.'' Further, Section
IX(b)(iii) of the CQ Plan provides that ``additions, deletions, or
modifications to any charges under this CQ Plan shall be effected by an
amendment . . . that is approved by affirmative vote of two-thirds of
all the members of the Operating Committee.''
The Participants have executed this Amendment and represent not
less than two-thirds of all of the parties to the Plan. That satisfies
the Plans' Participant-approval requirements.
H. Description of Operation of Facility Contemplated by the Proposed
Amendments
Not applicable.
I. Terms and Conditions of Access
Not applicable.
J. Method of Determination and Imposition, and Amount of, Fees and
Charges
Not applicable.
K. Method and Frequency of Processor Evaluation
Not applicable.
L. Dispute Resolution
Not applicable.
II. Rule 601(a)
A. Equity Securities for Which Transaction Reports Shall Be Required by
the Plan
Not applicable.
B. Reporting Requirements
Not applicable.
C. Manner of Collecting, Processing, Sequencing, Making Available and
Disseminating Last Sale Information
Not applicable.
D. Manner of Consolidation
Not applicable.
E. Standards and Methods Ensuring Promptness, Accuracy and Completeness
of Transaction Reports
Not applicable.
F. Rules and Procedures Addressed to Fraudulent or Manipulative
Dissemination
Not applicable.
G. Terms of Access to Transaction Reports
Not applicable.
H. Identification of Marketplace of Execution
Not applicable.
III. Solicitation of Comments
The Commission seeks comment on the Amendments. Interested persons
are invited to submit written data, views, and arguments concerning the
foregoing, including whether the proposed Amendments are consistent
with the Act. Comments may be submitted by any of the following
methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-CTA/CQ-2018-03 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-CTA/CQ-2018-03. 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 (https://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the Amendments that are filed with the
Commission, and all written communications relating to the Amendments
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 Room on official business days between
the hours of 10:00 a.m. and 3:00 p.m. Copies of the Amendments also
will be available for inspection and copying at the principal office of
the CTA.
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-CTA/CQ-2018-03 and should be
submitted on or before October 15, 2018.
By the Commission.
Brent J. Fields,
Secretary.
[FR Doc. 2018-20661 Filed 9-21-18; 8:45 am]
BILLING CODE 8011-01-P
