Self-Regulatory Organizations; Investors Exchange LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Add a New Discretionary Limit Order Type Called D-Limit, 9513-9514 [2020-03185]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 85, No. 33 / Wednesday, February 19, 2020 / Notices opportunities for LMMs and ETP Holders. As a result, the Exchange believes that the proposed change furthers the Commission’s goal in adopting Regulation NMS of fostering integrated competition among orders, which promotes ‘‘more efficient pricing of individual stocks for all types of orders, large and small.’’ 21 Intramarket Competition. The proposed change is designed to attract additional order flow to the Exchange. The Exchange believes that the amended thresholds to qualify for the incremental credit applicable to LMMs, and ETP Holders affiliated with such LMM, would continue to incentivize market participants to direct their displayed order flow to the Exchange. Greater liquidity benefits all market participants on the Exchange by providing more trading opportunities and encourages LMMs, to send orders to the Exchange, thereby contributing to robust levels of liquidity, which benefits all market participants. The proposed thresholds to qualify for the incremental credit would be applicable to all similarly-situated market participants, and, as such, the proposed change would not impose a disparate burden on competition among market participants on the Exchange. Intermarket Competition. The Exchange operates in a highly competitive market in which market participants can readily choose to send their orders to other exchange and offexchange venues if they deem fee levels at those other venues to be more favorable. As noted above, the Exchange’s current market share of intraday trading (i.e., excluding auctions) is less than 10%. In such an environment, the Exchange must continually adjust its fees and rebates to remain competitive with other exchanges and with off-exchange venues. Because competitors are free to modify their own fees and credits in response, and because market participants may readily adjust their order routing practices, the Exchange does not believe its proposed fee change can impose any burden on intermarket competition. The Exchange believes that the proposed change could promote competition between the Exchange and other execution venues, including those that currently offer similar order types and comparable transaction pricing, by encouraging additional orders to be sent to the Exchange for execution. 21 See Securities Exchange Act Release No. 51808, 70 FR 37495, 37498–99 (June 29, 2005) (S7–10–04) (Final Rule). VerDate Sep<11>2014 17:51 Feb 18, 2020 Jkt 250001 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 22 of the Act and subparagraph (f)(2) of Rule 19b–4 23 thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. 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) 24 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– NYSEArca–2020–11 on the subject line. 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–NYSEArca–2020–11. 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 internet website (https://www.sec.gov/ U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 24 15 U.S.C. 78s(b)(2)(B). 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 offices 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–NYSEArca–2020–11, and should be submitted on or before March 11, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.25 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–03184 Filed 2–18–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–88186; File No. SR–IEX– 2019–15] Self-Regulatory Organizations; Investors Exchange LLC; Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change To Add a New Discretionary Limit Order Type Called D-Limit February 12, 2020. On December 16, 2019, the Investors Exchange LLC (‘‘IEX’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to adopt a new order type, the Discretionary Limit or ‘‘D-Limit.’’ The 22 15 25 17 23 17 1 15 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 9513 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. E:\FR\FM\19FEN1.SGM 19FEN1 9514 Federal Register / Vol. 85, No. 33 / Wednesday, February 19, 2020 / Notices proposed rule change was published for comment in the Federal Register on December 30, 2019.3 The Commission has received 19 comment letters on the proposed rule change.4 Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding, or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is February 13, 2020. The Commission hereby is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider this proposed rule change, including the comment letters received thereon. Accordingly, pursuant to Section 19(b)(2) of the Act,6 the Commission designates March 29, 2020, as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–IEX–2019–15). SUMMARY: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Assistant Secretary. For Physical Damage: Homeowners with Credit Available Elsewhere ...................... Homeowners without Credit Available Elsewhere .............. Businesses with Credit Available Elsewhere ...................... Businesses without Credit Available Elsewhere .............. Non-Profit Organizations with Credit Available Elsewhere ... Non-Profit Organizations without Credit Available Elsewhere ..................................... For Economic Injury: Businesses & Small Agricultural Cooperatives without Credit Available Elsewhere .............. Non-Profit Organizations without Credit Available Elsewhere ..................................... [FR Doc. 2020–03185 Filed 2–18–20; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #16280 and #16281; MISSISSIPPI Disaster Number MS–00120] Administrative Declaration of a Disaster for the State of Mississippi U.S. Small Business Administration. ACTION: Notice. khammond on DSKJM1Z7X2PROD with NOTICES AGENCY: 3 See Securities Exchange Act Release No. 87814 (December 20, 2019), 84 FR 71997. 4 The comment letters are available at: https:// www.sec.gov/comments/sr-iex-2019–15/sriex 201915.htm. 5 15 U.S.C. 78s(b)(2). 6 Id. 7 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 17:51 Feb 18, 2020 Jkt 250001 This is a notice of an Administrative declaration of a disaster for the State of MISSISSIPPI dated 02/06/2020. Incident: Severe Weather and Tornadoes. Incident Period: 01/10/2020 through 01/11/2020. DATES: Issued on 02/06/2020. Physical Loan Application Deadline Date: 04/06/2020. Economic Injury (EIDL) Loan Application Deadline Date: 11/06/2020. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street SW, Suite 6050, Washington, DC 20416, (202) 205–6734. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the Administrator’s disaster declaration, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Counties: DeSoto. Contiguous Counties: Mississippi: Marshall, Tate, Tunica. Arkansas: Crittenden. Tennessee: Shelby. The Interest Rates are: Percent 3.000 1.500 7.750 3.875 2.750 2.750 3.875 2.750 The number assigned to this disaster for physical damage is 16280 C and for economic injury is 16281 0. The States which received an EIDL Declaration # are Mississippi, Arkansas, Tennessee. (Catalog of Federal Domestic Assistance Number 59008) PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 Dated: February 6, 2020. Jovita Carranza, Administrator. [FR Doc. 2020–03240 Filed 2–18–20; 8:45 am] BILLING CODE 8026–03–P SMALL BUSINESS ADMINISTRATION Meeting of the Advisory Committee on Veterans Business Affairs U.S. Small Business Administration (SBA). ACTION: Notice of open Federal Advisory Committee meeting. AGENCY: The SBA is issuing this notice to announce the location, date, time, and provide supplemental information for the next meeting of the Advisory Committee on Veterans Business Affairs (ACVBA). The meeting is open to the public. SUMMARY: Thursday, March 5, 2020, from 9 a.m. to 4 p.m. EST. ADDRESSES: The meeting will be held at SBA Headquarters, 409 3rd Street SW, Eisenhower Conference Room B, Washington, DC 20416, and via teleconference. DATES: The meeting is open to the public; however advance notice of attendance is requested. To RSVP and confirm attendance, the general public should email veteransbusiness@sba.gov with subject line—‘‘RSVP for March 5, 2020 ACVBA Public Meeting.’’ Anyone wishing to make comments to the ACVBA must contact SBA’s Office of Veterans Business Development (OVBD) no later than February 25, 2020 via email veteransbusiness@sba.gov, or Timothy Green, Deputy Associate Administrator, OVBD at (202) 205–6773. Comments for the record will be limited to five minutes to accommodate as many participants as possible. Special accommodation requests should also be directed to OVBD at (202) 205–6773 or veteransbusiness@ sba.gov. For more information on veteran owned small business programs, please visit www.sba.gov/ovbd. Participants not attending in person can join via teleconference by calling: 1–202–765–1264, Conference ID: 137290192#. All applicable documents will be posted on the ACVBA website: https:// www.sba.gov/offices/headquarters/ ovbd/resources/14397. SBA’s main entrance lobby has been temporarily closed due to renovation construction. As a result, the security area has been relocated and the only means of entering the building is via the FOR FURTHER INFORMATION CONTACT: E:\FR\FM\19FEN1.SGM 19FEN1

Agencies

[Federal Register Volume 85, Number 33 (Wednesday, February 19, 2020)]
[Notices]
[Pages 9513-9514]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03185]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88186; File No. SR-IEX-2019-15]


Self-Regulatory Organizations; Investors Exchange LLC; Notice of 
Designation of Longer Period for Commission Action on a Proposed Rule 
Change To Add a New Discretionary Limit Order Type Called D-Limit

February 12, 2020.
    On December 16, 2019, the Investors Exchange LLC (``IEX'' or the 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to adopt a new order type, the 
Discretionary Limit or ``D-Limit.'' The

[[Page 9514]]

proposed rule change was published for comment in the Federal Register 
on December 30, 2019.\3\ The Commission has received 19 comment letters 
on the proposed rule change.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 87814 (December 20, 
2019), 84 FR 71997.
    \4\ The comment letters are available at: https://www.sec.gov/comments/sr-iex-2019-15/sriex201915.htm.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding, or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is February 13, 2020.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission hereby is extending this 45-day time period. The 
Commission finds it appropriate to designate a longer period within 
which to take action on the proposed rule change so that it has 
sufficient time to consider this proposed rule change, including the 
comment letters received thereon.
    Accordingly, pursuant to Section 19(b)(2) of the Act,\6\ the 
Commission designates March 29, 2020, as the date by which the 
Commission shall either approve, disapprove, or institute proceedings 
to determine whether to disapprove, the proposed rule change (File No. 
SR-IEX-2019-15).
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    \6\ Id.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-03185 Filed 2-18-20; 8:45 am]
 BILLING CODE 8011-01-P
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