Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Assessed on Members To Establish a Monthly Trading Rights Fee, 68225-68226 [2019-26837]
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Federal Register / Vol. 84, No. 240 / Friday, December 13, 2019 / Notices
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.36
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) 37 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:
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–
NYSEAMER–2019–52 on the subject
line.
jbell on DSKJLSW7X2PROD with NOTICES
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–NYSEAMER–2019–52. 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
36 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires the Exchange to give the
Commission written notice of its intent to file the
proposed rule change, along with a brief description
and text of the proposed rule change, at least five
business days prior to the date of filing of the
proposed rule change, or such shorter time as
designated by the Commission. The Exchange has
satisfied this requirement.
37 15 U.S.C. 78s(b)(2)(B).
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68225
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–NYSEAMER–2019–52 and
should be submitted on or before
January 3, 2020.
to be assessed on Members. 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 August 21,
2019.4 The Commission received one
comment letter on the proposed rule
change, and one response letter from the
Exchange.5 On September 27, 2019, the
Commission temporarily suspended the
proposed rule change and instituted
proceedings to determine whether to
approve or disapprove the proposed
rule change.6
On November 21, 2019, the Exchange
withdrew the proposed rule change
(SR–CboeBYX–2019–013).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.38
Jill M. Peterson,
Assistant Secretary.
Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change
To Amend the Fee Schedule Assessed
on Members To Establish a Monthly
Trading Rights Fee
[FR Doc. 2019–26834 Filed 12–12–19; 8:45 am]
BILLING CODE 8011–01–P
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–26839 Filed 12–12–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87687; File No. SR–
CboeBZX–2019–072]
December 9, 2019.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87689; File No. SR–
CboeBYX–2019–013]
Self-Regulatory Organizations; Cboe
BYX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change
To Amend the Fee Schedule Assessed
on Members To Establish a Monthly
Trading Rights Fee
On August 1, 2019, Cboe BZX
Exchange, Inc. (‘‘BZX’’ or the
‘‘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 BZX Fee Schedule to
establish a monthly Trading Rights Fee
to be assessed on Members. The
proposed rule change was immediately
effective upon filing with the
December 9, 2019.
On August 1, 2019, Cboe BYX
Exchange, Inc. (‘‘BYX’’ or the
‘‘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 BYX Fee Schedule to
establish a monthly Trading Rights Fee
38 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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Sfmt 4703
3 15
U.S.C. 78s(b)(3)(A).
Securities Exchange Act Release No. 86685
(August 15, 2019), 84 FR 43627.
5 See Letters from: Theodore R. Lazo, Managing
Director and Associate General Counsel, SIFMA,
dated September 12, 2019; Adrian Griffiths,
Assistant General Counsel, Cboe, dated September
25, 2019. Comment letters are available on the
Commission’s website at: https://www.sec.gov/
comments/sr-cboebyx-2019-013/srcboebyx
2019013.htm.
6 See Securities Exchange Act Release No. 87140,
84 FR 52917 (October 3, 2019).
7 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
4 See
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Federal Register / Vol. 84, No. 240 / Friday, December 13, 2019 / Notices
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 August 21,
2019.4 The Commission received one
comment letter on the proposed rule
change, and one response letter from the
Exchange.5 On September 27, 2019, the
Commission temporarily suspended the
proposed rule change and instituted
proceedings to determine whether to
approve or disapprove the proposed
rule change.6
On November 21, 2019, the Exchange
withdrew the proposed rule change
(SR–CboeBZX–2019–072).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–26837 Filed 12–12–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87701; File No. SR–
NYSENAT–2019–29]
Self-Regulatory Organizations; NYSE
National, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending the
Exchange’s Price List Related to CoLocation Services
December 9, 2019.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on November
25, 2019, NYSE National, Inc. (‘‘NYSE
National’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
3 15
U.S.C. 78s(b)(3)(A).
Securities Exchange Act Release No. 86686
(August 15, 2019), 84 FR 43633.
5 See Letters from: Theodore R. Lazo, Managing
Director and Associate General Counsel, SIFMA,
dated September 12, 2019; Adrian Griffiths,
Assistant General Counsel, Cboe, dated September
25, 2019. Comment letters are available on the
Commission’s website at: https://www.sec.gov/
comments/sr-cboebyx-2019-013/srcboebyx
2019013.htm.
6 See Securities Exchange Act Release No. 87142,
84 FR 52902 (October 3, 2019).
7 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
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4 See
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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 proposes to amend the
Exchange’s Price List related to colocation services to eliminate (a) a
connectivity option whose manufacturer
will no longer support a key component
of the network hardware, and (b)
services that are no longer utilized by
Users. The proposed rule change is
available on the Exchange’s website at
www.nyse.com, at the principal office of
the Exchange, 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
self-regulatory organization 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 those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
Price List related to co-location 4
services offered by the Exchange to
eliminate (a) a connectivity option
whose manufacturer will no longer
support a key component of the network
hardware, and (b) services that are no
longer utilized by Users.5
4 The Exchange initially filed rule changes
relating to its co-location services with the
Securities and Exchange Commission
(‘‘Commission’’) in May 2018. See Securities
Exchange Act Release No. 83351 (May 31, 2018), 83
FR 26314 (June 6, 2018) (SR–NYSENAT–2018–07)
(‘‘Co-location Notice’’). The Exchange operates a
data center in Mahwah, New Jersey (the ‘‘data
center’’) from which it provides co-location services
to Users.
5 For purposes of the Exchange’s co-location
services, a ‘‘User’’ means any market participant
that requests to receive co-location services directly
from the Exchange. See id. at note 9. As specified
in the Price List, a User that incurs co-location fees
for a particular co-location service pursuant thereto
would not be subject to co-location fees for the
same co-location service charged by the Exchange’s
affiliates the New York Stock Exchange LLC
(‘‘NYSE’’), NYSE American LLC (‘‘NYSE
American’’), NYSE Arca, Inc. (‘‘NYSE Arca’’), and
NYSE Chicago, Inc. (‘‘NYSE Chicago’’ and together,
the ‘‘Affiliate SROs’’). See id. at note 11.
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Frm 00127
Fmt 4703
Sfmt 4703
Proposed Change
LCN 10 Gb Circuit
Among other connectivity options,
Users are able to connect to the
Exchange over the Liquidity Center
Network (‘‘LCN’’), a local area network
available in the data center.6 LCN access
is available at 1, 10 and 40 Gb
bandwidth capacities. Currently, Users
have two 10 Gb options for LCN access:
• LCN 10 Gb, which has been in place
since 2010,7 and
• LCN 10 Gb LX, which was
introduced in 2013.8
The LCN 10 Gb LX has a lower
latency than the LCN 10 Gb connection,
and has latency levels substantially
similar to those of the LCN 40 Gb
connection.9 Between the two 10 Gb
LCN alternatives, the vast majority
(80%) of User connections are the newer
LCN 10Gb LX connections.
The Exchange proposes to cease
offering the LCN 10 Gb connection. The
Exchange does not propose the current
change lightly: It recognizes that
removing the LCN 10 Gb connection
from its Price List would eliminate a
connectivity option previously available
to Users. For the reasons discussed
below, however, the Exchange has
concluded that the proposed change is
necessary because it believes that if it
does not eliminate the LCN 10 Gb
connections, the Exchange’s ability to
provide support or supplies to Users
with LCN 10 Gb connections would be
compromised.
For each LCN connection, the
network hardware relies on a switch,
which acts as the ‘‘gatekeeper’’ for a
User’s inbound messaging (e.g., orders
and quotes) sent to the Exchange’s
trading and execution system and the
6 The other local area network is the internet
protocol (‘‘IP’’) network. See id. at 26316.
7 See Securities Exchange Act Release Nos. 62960
(September 21, 2010), 75 FR 59310 (September 27,
2010) (SR–NYSE–2010–56); 62961 (September 21,
2010), 75 FR 59299 (September 27, 2010) (SR–
NYSEAmex–2010–80); and 63275 (November 8,
2010), 75 FR 70048 (November 16, 2010) (SR–
NYSEArca–2010–100). In 2017, the Exchange
became a subsidiary of NYSE Group, Inc. As a
result, the Exchange and the Affiliate SROs are
direct or indirect subsidiaries of NYSE Group, Inc.
and, indirectly, Intercontinental Exchange, Inc. See
Exchange Act Release No. 79902 (January 30, 2017),
82 FR 9258 (February 3, 2017) (SR–NSX–2016–16).
8 See Securities Exchange Act Release Nos. 70888
(November 15, 2013), 78 FR 69907 (November 21,
2013) (SR–NYSE–2013–73); 70979 (December 4,
2013), 78 FR 74200 (December 10, 2013) (SR–
NYSE–2013–77); 70886 (November 15, 2013), 78 FR
69904 (November 21, 2013) (SR–NYSEMKT–2013–
92); 70982 (December 4, 2013), 78 FR 74197
(December 10, 2013) (SR–NYSEMKT–2013–97);
70887 (November 15, 2013), 78 FR 69897
(November 21, 2013) (SR–NYSEArca–2013–123);
and 70981 (December 4, 2013), 78 FR 74203
(December 10, 2013) (SR–NYSEARCA–2013–131).
9 See 78 FR 69907, supra note 8, at 69907.
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]]>Agencies
[Federal Register Volume 84, Number 240 (Friday, December 13, 2019)]
[Notices]
[Pages 68225-68226]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26837]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-87687; File No. SR-CboeBZX-2019-072]
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Assessed
on Members To Establish a Monthly Trading Rights Fee
December 9, 2019.
On August 1, 2019, Cboe BZX Exchange, Inc. (``BZX'' or the
``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 BZX Fee Schedule to establish a
monthly Trading Rights Fee to be assessed on Members. The proposed rule
change was immediately effective upon filing with the
[[Page 68226]]
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 August
21, 2019.\4\ The Commission received one comment letter on the proposed
rule change, and one response letter from the Exchange.\5\ On September
27, 2019, the Commission temporarily suspended the proposed rule change
and instituted proceedings to determine whether to approve or
disapprove the proposed rule change.\6\
---------------------------------------------------------------------------
\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. 86686 (August 15,
2019), 84 FR 43633.
\5\ See Letters from: Theodore R. Lazo, Managing Director and
Associate General Counsel, SIFMA, dated September 12, 2019; Adrian
Griffiths, Assistant General Counsel, Cboe, dated September 25,
2019. Comment letters are available on the Commission's website at:
https://www.sec.gov/comments/sr-cboebyx-2019-013/srcboebyx2019013.htm.
\6\ See Securities Exchange Act Release No. 87142, 84 FR 52902
(October 3, 2019).
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On November 21, 2019, the Exchange withdrew the proposed rule
change (SR-CboeBZX-2019-072).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-26837 Filed 12-12-19; 8:45 am]
BILLING CODE 8011-01-P
