Initial Form ATS-N Filing; Notice of Extension of Commission Review Period, 26480-26481 [2019-11893]
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26480
Federal Register / Vol. 84, No. 109 / Thursday, June 6, 2019 / Notices
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available publicly. All submissions
should refer to File Number SR–DTC–
2019–003 and should be submitted on
or before June 27,2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.36
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11802 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–86003; File No. 013–00112]
Initial Form ATS–N Filing; Notice of
Extension of Commission Review
Period
khammond on DSKBBV9HB2PROD with NOTICES
June 3, 2019.
On February 8, 2019, Luminex 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
36 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
16:11 Jun 05, 2019
Jkt 247001
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.
Luminex ATS was operating pursuant
to an initial operation report on Form
ATS on file with the Commission as of
January 7, 2019.1 Luminex 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
Luminex ATS’s initial Form ATS–N. In
addition, the staff has been engaged in
ongoing discussions with Luminex 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 Luminex 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
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 00084
Fmt 4703
Sfmt 4703
initial Form ATS–N disclosures and
discussions with Luminex ATS.
In the conversations between
Luminex ATS and Commission staff
about the initial Form ATS–N
disclosures and the ATS operations,
Commission staff and Luminex ATS
have discussed a potential amendment
to update Luminex 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 Luminex 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 Luminex ATS ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11869 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–86015; File No. 013–00105]
Initial Form ATS–N Filing; Notice of
Extension of Commission Review
Period
June 3, 2019.
On February 8, 2019, Instinet CBX
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.
Instinet CBX was operating pursuant
to an initial operation report on Form
ATS on file with the Commission as of
E:\FR\FM\06JNN1.SGM
06JNN1
khammond on DSKBBV9HB2PROD with NOTICES
Federal Register / Vol. 84, No. 109 / Thursday, June 6, 2019 / Notices
January 7, 2019.1 Instinet CBX 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
Instinet CBX’s initial Form ATS–N. In
addition, the staff has been engaged in
ongoing discussions with Instinet CBX
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 Instinet CBX.
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 Instinet CBX.
In the conversations between Instinet
CBX and Commission staff about the
initial Form ATS–N disclosures and the
ATS operations, Commission staff and
Instinet CBX have discussed a potential
amendment to update Instinet CBX’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.
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
For the reasons given above, the
Commission is extending the review
period of the initial Form ATS–N
submitted by Instinet CBX. 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 Instinet CBX
ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11893 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85980; File No. 013–00118]
Initial Form ATS–N Filing; Notice of
Extension of Commission Review
Period
May 31, 2019.
On February 11, 2019, CrossStream
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 11, 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.
CrossStream was operating pursuant
to an initial operation report on Form
ATS on file with the Commission as of
January 7, 2019.1 CrossStream filed an
initial Form ATS–N on February 11,
2019. During the initial 120 calendar
day review period, the Commission staff
has been reviewing the disclosures on
CrossStream’s initial Form ATS–N. In
addition, the staff has been engaged in
ongoing discussions with CrossStream
about its disclosures and manner of
operations, as well as the requirements
of Form ATS–N, to facilitate complete
and comprehensible disclosures that
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 00085
Fmt 4703
Sfmt 4703
26481
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 CrossStream.
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 CrossStream.
In the conversations between
CrossStream and Commission staff
about the initial Form ATS–N
disclosures and the ATS operations,
Commission staff and CrossStream have
discussed a potential amendment to
update CrossStream’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 CrossStream. Accordingly,
pursuant to Rule 304(a)(1)(iv)(B),
October 9, 2019 is the date by which the
Commission may declare the initial
Form ATS–N submitted by CrossStream
ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11838 Filed 6–5–19; 8:45 am]
BILLING CODE 8011–01–P
E:\FR\FM\06JNN1.SGM
06JNN1
]]>Agencies
[Federal Register Volume 84, Number 109 (Thursday, June 6, 2019)]
[Notices]
[Pages 26480-26481]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11893]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-86015; File No. 013-00105]
Initial Form ATS-N Filing; Notice of Extension of Commission
Review Period
June 3, 2019.
On February 8, 2019, Instinet CBX 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.
Instinet CBX was operating pursuant to an initial operation report
on Form ATS on file with the Commission as of
[[Page 26481]]
January 7, 2019.\1\ Instinet CBX 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 Instinet
CBX's initial Form ATS-N. In addition, the staff has been engaged in
ongoing discussions with Instinet CBX 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 Instinet CBX. 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 Instinet CBX.
In the conversations between Instinet CBX and Commission staff
about the initial Form ATS-N disclosures and the ATS operations,
Commission staff and Instinet CBX have discussed a potential amendment
to update Instinet CBX'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 Instinet CBX.
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 Instinet CBX ineffective.
By the Commission.
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-11893 Filed 6-5-19; 8:45 am]
BILLING CODE 8011-01-P
