Initial Form ATS-N Filing; Notice of Extension of Commission Review Period, 26489 [2019-11837]
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Federal Register / Vol. 84, No. 109 / Thursday, June 6, 2019 / Notices
Form ATS–N submitted by JPB–X
ineffective.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–11822 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85979; File No. 013–00141]
Initial Form ATS–N Filing; Notice of
Extension of Commission Review
Period
khammond on DSKBBV9HB2PROD with NOTICES
May 31, 2019.
On February 13, 2019, XE filed an
initial Form ATS–N (‘‘Form ATS–N’’)
with the Securities and Exchange
Commission (‘‘Commission’’). Pursuant
to Rule 304 under the Securities and
Exchange Act of 1934 (‘‘Act’’), the
Commission may, after notice and an
opportunity for hearing, declare an
initial Form ATS–N ineffective no later
than 120 days from the date of filing
with the Commission, or, if applicable,
the extended review period. June 13,
2019 is 120 calendar days from the date
of filing. Pursuant to Rule
304(a)(1)(iv)(B), the Commission may
extend the initial Form ATS–N review
period for up to an additional 120
calendar days if the initial Form ATS–
N is unusually lengthy or raises novel
or complex issues that require
additional time for review.
XE was operating pursuant to an
initial operation report on Form ATS on
file with the Commission as of January
7, 2019.1 XE filed an initial Form ATS–
N on February 13, 2019. During the
initial 120 calendar day review period,
the Commission staff has been
reviewing the disclosures on XE’s initial
Form ATS–N. In addition, the staff has
been engaged in ongoing discussions
with XE about its disclosures and
manner of operations, as well as the
requirements of Form ATS–N, to
facilitate complete and comprehensible
disclosures that reflect the complexities
of those operations.
Form ATS–N requires NMS Stock
ATSs to file with the Commission, and
disclose to the public for the first time,
certain information, including
descriptions by the NMS Stock ATSs of
their fees, the trading activities by their
broker-dealer operators and their
affiliates in the NMS Stock ATSs, their
1 An
NMS Stock ATS (as defined in Rule 300(k)
of Regulation ATS) that was operating pursuant to
an initial operation report on Form ATS on file with
the Commission as of January 7, 2019 is a ‘‘Legacy
NMS Stock ATS.’’ 17 CFR 242.301(b)(2)(viii).
VerDate Sep<11>2014
16:11 Jun 05, 2019
Jkt 247001
use of market data, their written
standards for granting access to trading
on the NMS Stock ATSs, and their
written safeguards and procedures for
protecting their subscribers’ confidential
trading information required by revised
Rule 301(b)(10) of Regulation ATS. The
initial Form ATS–N disclosures and
discussions with Commission staff have
revealed complexities about the
operations of Legacy NMS Stock ATSs
including, among other things, matching
functionalities, means of order entry,
order interaction and execution
procedures, conditional order processes,
segmentation of orders, and
counterparty selection protocols. The
Commission staff needs additional time
to review novel and complex issues
such as these, which Commission staff
has discussed with XE. Extending the
initial Form ATS–N Commission review
period for an additional 120 calendar
days will provide Commission staff an
opportunity to continue its review of the
initial Form ATS–N disclosures and
discussions with XE.
In the conversations between XE and
Commission staff about the initial Form
ATS–N disclosures and the ATS
operations, Commission staff and XE
have discussed a potential amendment
to update XE’s disclosures regarding the
complexities of its operations.
Extending the review period will enable
the NMS Stock ATS to amend its
disclosures, if appropriate, and allow
Commission staff to conduct a thorough
review of amendments to the initial
disclosures provided on the initial Form
ATS–N.
For the reasons given above, the
Commission is extending the review
period of the initial Form ATS–N
submitted by XE. Accordingly, pursuant
to Rule 304(a)(1)(iv)(B), October 11,
2019 is the date by which the
Commission may declare the initial
Form ATS–N submitted by XE
ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
33497; 812–14915]
Cresset Private Markets Opportunity
Fund and Cresset SPG, LLC
May 31, 2019.
Securities and Exchange
Commission (‘‘Commission’’).
AGENCY:
Frm 00093
Fmt 4703
Notice.
Notice of an application under section
6(c) of the Investment Company Act of
1940 (the ‘‘Act’’) for an exemption from
sections 18(a)(2), 18(c) and 18(i) of the
Act, and for an order pursuant to section
17(d) of the Act and rule 17d–1 under
the Act.
Applicants
request an order to permit certain
registered closed-end management
investment companies to issue multiple
classes of shares of beneficial interest
with varying sales loads and to impose
asset-based distribution and/or service
fees.
SUMMARY OF APPLICATION:
Cresset Private Markets
Opportunity Fund (the ‘‘Initial Fund’’)
and Cresset SPG, LLC (the ‘‘Adviser’’).
APPLICANTS:
The application was filed
on June 6, 2018, and amended on
February 1, 2019.
FILING DATES:
An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on June 25, 2019, and
should be accompanied by proof of
service on the applicants, in the form of
an affidavit, or, for lawyers, a certificate
of service. Pursuant to rule 0–5 under
the Act, hearing requests should state
the nature of the writer’s interest, any
facts bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
HEARING OR NOTIFICATION OF HEARING:
Secretary, U.S. Securities
and Exchange Commission, 100 F Street
NE, Washington, DC 20549–1090;
Applicants, 444 W Lake Street, Suite
4700, Chicago, IL 60606.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
[FR Doc. 2019–11837 Filed 6–5–19; 8:45 am]
PO 00000
ACTION:
26489
Sfmt 4703
Christine Y. Greenlees, Senior Counsel,
at (202) 551–6871, or Andrea
Ottomanelli Magovern, Branch Chief, at
(202) 551–6821 (Division of Investment
Management, Chief Counsel’s Office).
The
following is a summary of the
application. The complete application
may be obtained via the Commission’s
website by searching for the file
number, or for an applicant using the
Company name box, at https://
www.sec.gov/search/search.htm or by
calling (202) 551–8090.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\06JNN1.SGM
06JNN1
Agencies
[Federal Register Volume 84, Number 109 (Thursday, June 6, 2019)]
[Notices]
[Page 26489]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11837]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85979; File No. 013-00141]
Initial Form ATS-N Filing; Notice of Extension of Commission
Review Period
May 31, 2019.
On February 13, 2019, XE filed an initial Form ATS-N (``Form ATS-
N'') with the Securities and Exchange Commission (``Commission'').
Pursuant to Rule 304 under the Securities and Exchange Act of 1934
(``Act''), the Commission may, after notice and an opportunity for
hearing, declare an initial Form ATS-N ineffective no later than 120
days from the date of filing with the Commission, or, if applicable,
the extended review period. June 13, 2019 is 120 calendar days from the
date of filing. Pursuant to Rule 304(a)(1)(iv)(B), the Commission may
extend the initial Form ATS-N review period for up to an additional 120
calendar days if the initial Form ATS-N is unusually lengthy or raises
novel or complex issues that require additional time for review.
XE was operating pursuant to an initial operation report on Form
ATS on file with the Commission as of January 7, 2019.\1\ XE filed an
initial Form ATS-N on February 13, 2019. During the initial 120
calendar day review period, the Commission staff has been reviewing the
disclosures on XE's initial Form ATS-N. In addition, the staff has been
engaged in ongoing discussions with XE about its disclosures and manner
of operations, as well as the requirements of Form ATS-N, to facilitate
complete and comprehensible disclosures that reflect the complexities
of those operations.
---------------------------------------------------------------------------
\1\ An NMS Stock ATS (as defined in Rule 300(k) of Regulation
ATS) that was operating pursuant to an initial operation report on
Form ATS on file with the Commission as of January 7, 2019 is a
``Legacy NMS Stock ATS.'' 17 CFR 242.301(b)(2)(viii).
---------------------------------------------------------------------------
Form ATS-N requires NMS Stock ATSs to file with the Commission, and
disclose to the public for the first time, certain information,
including descriptions by the NMS Stock ATSs of their fees, the trading
activities by their broker-dealer operators and their affiliates in the
NMS Stock ATSs, their use of market data, their written standards for
granting access to trading on the NMS Stock ATSs, and their written
safeguards and procedures for protecting their subscribers'
confidential trading information required by revised Rule 301(b)(10) of
Regulation ATS. The initial Form ATS-N disclosures and discussions with
Commission staff have revealed complexities about the operations of
Legacy NMS Stock ATSs including, among other things, matching
functionalities, means of order entry, order interaction and execution
procedures, conditional order processes, segmentation of orders, and
counterparty selection protocols. The Commission staff needs additional
time to review novel and complex issues such as these, which Commission
staff has discussed with XE. Extending the initial Form ATS-N
Commission review period for an additional 120 calendar days will
provide Commission staff an opportunity to continue its review of the
initial Form ATS-N disclosures and discussions with XE.
In the conversations between XE and Commission staff about the
initial Form ATS-N disclosures and the ATS operations, Commission staff
and XE have discussed a potential amendment to update XE's disclosures
regarding the complexities of its operations. Extending the review
period will enable the NMS Stock ATS to amend its disclosures, if
appropriate, and allow Commission staff to conduct a thorough review of
amendments to the initial disclosures provided on the initial Form ATS-
N.
For the reasons given above, the Commission is extending the review
period of the initial Form ATS-N submitted by XE. Accordingly, pursuant
to Rule 304(a)(1)(iv)(B), October 11, 2019 is the date by which the
Commission may declare the initial Form ATS-N submitted by XE
ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-11837 Filed 6-5-19; 8:45 am]
BILLING CODE 8011-01-P