Self-Regulatory Organizations; BOX Exchange LLC; Notice of Withdrawal of Proposed Rule Change To Amend the Fee Schedule on the BOX Options Market LLC Facility To Establish BOX Connectivity Fees for Participants and Non-Participants Who Connect to the BOX Network, 47009 [2019-19223]

Download as PDF Federal Register / Vol. 84, No. 173 / Friday, September 6, 2019 / Notices 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–BX–2019–029 and should be submitted on or before September 27, 2019. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Jill M. Peterson, Assistant Secretary. places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. [FR Doc. 2019–19223 Filed 9–5–19; 8:45 am] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Jill M. Peterson, Assistant Secretary. SECURITIES AND EXCHANGE COMMISSION A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2019–19220 Filed 9–5–19; 8:45 am] Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt System Connectivity Fees BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; BOX Exchange LLC; Notice of Withdrawal of Proposed Rule Change To Amend the Fee Schedule on the BOX Options Market LLC Facility To Establish BOX Connectivity Fees for Participants and Non-Participants Who Connect to the BOX Network August 30, 2019. On June 26, 2019, BOX Exchange LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 a proposed rule change to amend the Exchange’s fee schedule to establish certain connectivity fees and reclassify its high speed vendor feed connection as a port fee. The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register on July 15, 2019.4 The Commission received two comment letters on the proposal.5 On August 22, 2019, the Exchange withdrew the proposed rule change (SR–BOX–2019– 22). 13 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 See Securities Exchange Act Release No. 86335 (July 9, 2019), 84 FR 33788. 5 See Letters to Vanessa Countryman, Secretary, Commission, from Theodore R. Lazo, Managing Director and Associate General Counsel, and Ellen Greene, Managing Director, Financial Services Operations, Securities Industry and Financial Markets Association, dated August 5, 2019 and Tyler Gellasch, Executive Director, Healthy Markets Association, dated August 5, 2019. 6 17 CFR 200.30–3(a)(12). 1 15 VerDate Sep<11>2014 16:53 Sep 05, 2019 Jkt 247001 BILLING CODE 8011–01–P [Release No. 34–86839; File No. SR– EMERALD–2019–31] August 30, 2019. [Release No. 34–86835; File No. SR–BOX– 2019–22] jspears on DSK3GMQ082PROD with NOTICES 47009 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 August 23, 2019, MIAX Emerald, LLC (‘‘MIAX Emerald’’ or ‘‘Exchange’’), filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is filing a proposal to amend the MIAX Emerald Fee Schedule (the ‘‘Fee Schedule’’) to adopt the Exchange’s system connectivity fees. The Exchange previously filed the proposal on June 26, 2019 (SR– EMERALD–2019–24). That filing has been withdrawn and replaced with the current filing (SR–EMERALD–2019–31). The text of the proposed rule change is available on the Exchange’s website at https://www.miaxoptions.com/rulefilings/emerald, at MIAX’s principal office, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00078 Fmt 4703 Sfmt 4703 1. Purpose The Exchange is refiling its proposal to amend the Fee Schedule regarding connectivity to the Exchange in order to provide greater detail and clarity concerning the Exchange’s cost allocation, as it pertains to the Exchange’s expenses for network connectivity services. In order to determine the Exchange’s costs associated with providing network connectivity services, the Exchange conducted an extensive cost allocation review process in which the Exchange did a line-by-line analysis of the Exchange’s general expense ledger to determine which of those expenses relate to the provision of network connectivity services, and, if related, what portion (or allocation) of such expense should be attributed to the cost of providing network connectivity services. The Exchange is now presenting the results of the cost allocation review in a way that corresponds directly with income statement expense line items to provide greater transparency into its actual costs associated with providing network connectivity services. Based on this analysis, the Exchange believes that its proposed fees are fair and reasonable because they will permit recovery of less than all of the Exchange’s costs for providing connectivity and will not result in excessive pricing or supracompetitive profit, when comparing the Exchange’s total annual expense associated with providing the network connectivity services versus the total projected annual revenue the Exchange projects to collect for providing the network connectivity services. Specifically, the Exchange proposes to amend Sections 5a) and b) of the Fee Schedule to adopt the network connectivity fees for the 1 Gigabit (‘‘Gb’’) fiber connection and the 10Gb ultra-low latency (‘‘ULL’’) fiber connection, which are charged to both Members 3 and non-Members of the 3 The term ‘‘Member’’ means an individual or organization approved to exercise the trading rights associated with a Trading Permit. Members are deemed ‘‘members’’ under the Exchange Act. See Exchange Rule 100. E:\FR\FM\06SEN1.SGM 06SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 84, Number 173 (Friday, September 6, 2019)]
[Notices]
[Page 47009]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-19223]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-86835; File No. SR-BOX-2019-22]


Self-Regulatory Organizations; BOX Exchange LLC; Notice of 
Withdrawal of Proposed Rule Change To Amend the Fee Schedule on the BOX 
Options Market LLC Facility To Establish BOX Connectivity Fees for 
Participants and Non-Participants Who Connect to the BOX Network

August 30, 2019.
    On June 26, 2019, BOX Exchange LLC (``Exchange'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to amend the 
Exchange's fee schedule to establish certain connectivity fees and 
reclassify its high speed vendor feed connection as a port fee. The 
proposed rule change was immediately effective upon filing with the 
Commission pursuant to Section 19(b)(3)(A) of the Act.\3\ The proposed 
rule change was published for comment in the Federal Register on July 
15, 2019.\4\ The Commission received two comment letters on the 
proposal.\5\ On August 22, 2019, the Exchange withdrew the proposed 
rule change (SR-BOX-2019-22).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ See Securities Exchange Act Release No. 86335 (July 9, 
2019), 84 FR 33788.
    \5\ See Letters to Vanessa Countryman, Secretary, Commission, 
from Theodore R. Lazo, Managing Director and Associate General 
Counsel, and Ellen Greene, Managing Director, Financial Services 
Operations, Securities Industry and Financial Markets Association, 
dated August 5, 2019 and Tyler Gellasch, Executive Director, Healthy 
Markets Association, dated August 5, 2019.
    \6\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-19223 Filed 9-5-19; 8:45 am]
 BILLING CODE 8011-01-P

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