Initial Form ATS-N Filing; Notice of Extension of Commission Review Period, 26486 [2019-11841]
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Federal Register / Vol. 84, No. 109 / Thursday, June 6, 2019 / Notices
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
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–CboeEDGX–2019–032 and
should be submitted on or before June
27, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.29
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11800 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85983; File No. 013–00078]
Initial Form ATS–N Filing; Notice of
Extension of Commission Review
Period
khammond on DSKBBV9HB2PROD with NOTICES
May 31, 2019.
On February 8, 2019, Liquidnet H2O
ATS 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
29 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
16:11 Jun 05, 2019
Jkt 247001
period. June 8, 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.
Liquidnet H2O ATS was operating
pursuant to an initial operation report
on Form ATS on file with the
Commission as of January 7, 2019.1
Liquidnet H2O ATS filed an initial
Form ATS–N on February 8, 2019.
During the initial 120 calendar day
review period, the Commission staff has
been reviewing the disclosures on
Liquidnet H2O ATS’s initial Form ATS–
N. In addition, the staff has been
engaged in ongoing discussions with
Liquidnet H2O ATS 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
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 Liquidnet H2O ATS.
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 Liquidnet H2O ATS.
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).
PO 00000
Frm 00090
Fmt 4703
Sfmt 4703
In the conversations between
Liquidnet H2O ATS and Commission
staff about the initial Form ATS–N
disclosures and the ATS operations,
Commission staff and Liquidnet H2O
ATS have discussed a potential
amendment to update Liquidnet H2O
ATS’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 Liquidnet H2O ATS.
Accordingly, pursuant to Rule
304(a)(1)(iv)(B), October 6, 2019 is the
date by which the Commission may
declare the initial Form ATS–N
submitted by Liquidnet H2O ATS
ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11841 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85981; File No. SR–FINRA–
2019–016]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Extend the
Implementation of FINRA Rule 4240
(Margin Requirements for Credit
Default Swaps)
May 31, 2019.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 21,
2019, the Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III below, which Items have been
prepared by FINRA. FINRA has
designated the proposed rule change as
constituting a ‘‘non-controversial’’ rule
change under paragraph (f)(6) of Rule
19b–4 under the Act,3 which renders
the proposal effective upon receipt of
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
2 17
E:\FR\FM\06JNN1.SGM
06JNN1
Agencies
[Federal Register Volume 84, Number 109 (Thursday, June 6, 2019)]
[Notices]
[Page 26486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11841]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85983; File No. 013-00078]
Initial Form ATS-N Filing; Notice of Extension of Commission
Review Period
May 31, 2019.
On February 8, 2019, Liquidnet H2O ATS 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 8, 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.
Liquidnet H2O ATS was operating pursuant to an initial operation
report on Form ATS on file with the Commission as of January 7,
2019.\1\ Liquidnet H2O ATS filed an initial Form ATS-N on February 8,
2019. During the initial 120 calendar day review period, the Commission
staff has been reviewing the disclosures on Liquidnet H2O ATS's initial
Form ATS-N. In addition, the staff has been engaged in ongoing
discussions with Liquidnet H2O ATS 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 Liquidnet H2O ATS. 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 Liquidnet H2O ATS.
In the conversations between Liquidnet H2O ATS and Commission staff
about the initial Form ATS-N disclosures and the ATS operations,
Commission staff and Liquidnet H2O ATS have discussed a potential
amendment to update Liquidnet H2O ATS'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 Liquidnet H2O ATS.
Accordingly, pursuant to Rule 304(a)(1)(iv)(B), October 6, 2019 is the
date by which the Commission may declare the initial Form ATS-N
submitted by Liquidnet H2O ATS ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-11841 Filed 6-5-19; 8:45 am]
BILLING CODE 8011-01-P