Justia Agencies And Commissions Securities And Exchange Commission Joint Industry Plan; Order Approving the Twentieth Amendment to the National Market System Plan To Address Extraordinary Market Volatility by Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock Exchange, Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange LLC, Long-Term Stock Exchange, NASDAQ BX, Inc., NASDAQ PHLX LLC, The Nasdaq Stock Market LLC, NYSE National, Inc., New York Stock Exchange LLC, NYSE American LLC, and NYSE Arca, Inc., 23383-23384 [2020-08795]

Joint Industry Plan; Order Approving the Twentieth Amendment to the National Market System Plan To Address Extraordinary Market Volatility by Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock Exchange, Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange LLC, Long-Term Stock Exchange, NASDAQ BX, Inc., NASDAQ PHLX LLC, The Nasdaq Stock Market LLC, NYSE National, Inc., New York Stock Exchange LLC, NYSE American LLC, and NYSE Arca, Inc., 23383-23384 [2020-08795]

Download as PDF Federal Register / Vol. 85, No. 81 / Monday, April 27, 2020 / Notices information; (ii) consultation with Federal, State, Tribal, local agencies, and input from other stakeholders; (iii) independent NRC and BLM staff review; and (iv) the assessments provided in the EIS. The public comment period was originally scheduled to close on May 22, 2020. The NRC has decided to extend the public comment until July 22, 2020 to allow more time for members of the public to submit their comments. Comments of Federal, State, and local agencies, Indian Tribes or other interested persons will be made available for public inspection when received. Public meetings for the draft EIS will be announced at a later time. Dated: April 21, 2020. For the Nuclear Regulatory Commission. Cinthya I. Roman-Cuevas, Chief, Environmental Review Materials Branch, Division of Rulemaking, Environmental, and Financial Support, Office of Nuclear Material Safety, and Safeguards. [FR Doc. 2020–08826 Filed 4–24–20; 8:45 am] BILLING CODE 7590–01–P OFFICE OF PERSONNEL MANAGEMENT Submission for Review: 3206–0226, It’s Time To Sign Up for Direct Deposit or Direct Express, RI 38–128 Office of Personnel Management. ACTION: 60-Day notice and request for comments. AGENCY: The Retirement Services, Office of Personnel Management (OPM) offers the general public and other federal agencies the opportunity to comment on a revised information collection request (ICR), It’s Time to Sign Up for Direct Deposit or Direct Express, RI 38–128. DATES: Comments are encouraged and will be accepted until June 26, 2020. ADDRESSES: You may submit comments, identified by docket number and/or Regulatory Information Number (RIN) and title, by the following method: —Federal Rulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. All submissions received must include the agency name and docket number or RIN for this document. The general policy for comments and other submissions from members of the public is to make these submissions available for public viewing at https:// www.regulations.gov as they are received without change, including any lotter on DSKBCFDHB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:32 Apr 24, 2020 Jkt 250001 personal identifiers or contact information. A copy of this ICR with applicable supporting documentation, may be obtained by contacting the Retirement Services Publications Team, Office of Personnel Management, 1900 E Street NW, Room 3316–L, Washington, DC 20415, Attention: Cyrus S. Benson, or sent via electronic mail to Cyrus.Benson@opm.gov or faxed to (202) 606–0910 or via telephone at (202) 606–4808. SUPPLEMENTARY INFORMATION: As required by the Paperwork Reduction Act of 1995 (Pub. L. 104–13, 44 U.S.C. chapter 35) as amended by the ClingerCohen Act (Pub. L. 104–106), OPM is soliciting comments for this collection (OMB No. 3206–0226). The Office of Management and Budget is particularly interested in comments that: 1. Evaluate whether the proposed collection of information is necessary for the proper performance of functions of the agency, including whether the information will have practical utility; 2. Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; 3. Enhance the quality, utility, and clarity of the information to be collected; and 4. Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., permitting electronic submissions of responses. Form RI 38–128, It’s Time to Sign Up for Direct Deposit or Direct Express, provides the opportunity for the annuitant to elect Direct Deposit or Direct Express. This election is required only once: When a person is first put on our rolls. FOR FURTHER INFORMATION CONTACT: Analysis Agency: Retirement Operations, Retirement Services, Office of Personnel Management. Title: It’s Time to Sign Up for Direct Deposit or Direct Express (RI 38–128). OMB Number: 3206–0226. Frequency: On occasion. Affected Public: Individuals or Households. Number of Respondents: 20,000. Estimated Time per Respondent: 30 minutes. Total Burden Hours: 10,000 hours. PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 23383 Office of Personnel Management. Alexys Stanley, Regulatory Affairs Analyst. [FR Doc. 2020–08865 Filed 4–24–20; 8:45 am] BILLING CODE 6325–38–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–88704; File No. 4–631] Joint Industry Plan; Order Approving the Twentieth Amendment to the National Market System Plan To Address Extraordinary Market Volatility by Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock Exchange, Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange LLC, Long-Term Stock Exchange, NASDAQ BX, Inc., NASDAQ PHLX LLC, The Nasdaq Stock Market LLC, NYSE National, Inc., New York Stock Exchange LLC, NYSE American LLC, and NYSE Arca, Inc. April 21, 2020 I. Introduction On February 14, 2020, NYSE Group, Inc., on behalf of the following parties to the National Market System Plan to Address Extraordinary Market Volatility (‘‘the Plan’’): Cboe BZX Exchange, Inc., Cboe BYX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock Exchange, Inc., the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’), Investors Exchange LLC, Long-Term Stock Exchange (‘‘LTSE’’), NASDAQ BX, Inc., NASDAQ PHLX LLC, The NASDAQ Stock Market LLC (‘‘Nasdaq’’), New York Stock Exchange LLC (‘‘NYSE’’), NYSE Arca, Inc., NYSE National Inc., and NYSE American LLC (collectively, the ‘‘Participants’’) filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to Section 11A(a)(3) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 608 thereunder,2 a proposal to amend the Plan (‘‘Twentieth Amendment’’).3 The proposed Twentieth Amendment was published in the Federal Register on March 23, 2020.4 The Commission received no comments on the proposal. 1 15 U.S.C. 78k–1(a)(3). CFR 242.608. 3 See Letter from Elizabeth King, General Counsel and Corporate Secretary, NYSE, to Vanessa Countryman, Secretary, Commission, dated February 13, 2020. 4 See Securities Exchange Act Release No. 88406 (March 17, 2020), 85 FR 16408 (‘‘Notice’’). 2 17 E:\FR\FM\27APN1.SGM 27APN1 23384 Federal Register / Vol. 85, No. 81 / Monday, April 27, 2020 / Notices This Order approves the Twentieth Amendment to the Plan as proposed. IV. Discussion II. Background The Plan was approved in May 2012 on a pilot basis to ‘‘allow the Participants and the public to gain valuable practical experience with Plan operations during the pilot period’’ and to assess ‘‘whether further modifications of the Plan are necessary or appropriate prior to final approval.’’ 5 On April 11, 2019, the Commission approved the Eighteenth Amendment to the Plan, which transitioned the Plan from operating on a pilot to a permanent basis and adopted a mechanism for periodic review and assessment of the Plan.6 As part of the mechanism for periodic review and assessment of the Plan, the Participants committed to provide the Commission with certain data on a quarterly and annual basis. In particular, the Participants agreed to provide the Commission, and make publicly available, quarterly reports providing basic statistics that could be used to identify trends in the performance and impact of the Plan on market activity. The Participants added to the Plan Section II.B of Appendix B (‘‘Appendix B.II.B’’) to specify the specific data points that would be included in the quarterly reports. III. Description of the Proposal lotter on DSKBCFDHB2PROD with NOTICES The Participants propose to amend Appendix B.II.B to improve its clarity and transparency by revising and supplementing the current language.7 The Participants stated that, in the course of preparing to compile and aggregate the data required for the first quarterly report, they determined that the language of Appendix B.II.B could be improved by, among other things: (a) Emphasizing from the outset that the data should be aggregated across primary listing exchanges, (b) specifying the specific partitions that should be applied to each data point, (c) specifying the specific distribution statistics that should be applied to each data point, and (d) providing additional clarity as to what reopening data should be included.8 5 See Securities Exchange Act Release No. 67091, 77 FR 33498 (June 6, 2012) (File No. 4–631) (‘‘Plan Approval Order’’) (approving Plan as amended). 6 See Securities Exchange Act Release No. 85623, 84 FR 16086 (April 17, 2019) (‘‘Eighteenth Amendment Approval Order’’). 7 The Participants also propose to make a nonsubstantive amendment to the Plan to reflect the name change of Chicago Stock Exchange, Inc. to NYSE Chicago, Inc and to change its address. 8 See Notice supra note 4 at 85 FR 16409–11, for a more detailed description of proposed changes to Appendix B.II.B. VerDate Sep<11>2014 17:32 Apr 24, 2020 Jkt 250001 The Commission finds that the Twentieth Amendment, as proposed, is consistent with the requirements of the Act and the rules and regulations thereunder. Specifically, the Commission finds that the Twentieth Amendment is consistent with Section 11A of the Act 9 and Rule 608 thereunder 10 in that the proposal is appropriate in the public interest, for the protection of investors and the maintenance of fair and orderly markets, and that it removes impediments to, and perfects the mechanism of, a national market system. The Commission continues to believe, as it stated in the Eighteenth Amendment Approval Order, that ‘‘the ongoing review and assessment requirements proposed by the Participants will both facilitate a robust, data-driven assessment of the Plan’s effectiveness and provide the Commission and the public sufficient transparency of the effectiveness of the LULD mechanism necessary to help ensure the Plan remains designed to achieve its objective.’’ 11 We believe that the changes proposed in the Twentieth Amendments are consistent with these previously stated policy goals. Specifically, the proposed changes, which effectuate an important clarification concerning the method for aggregating data and precise descriptions of the required data elements for each quarterly report, will improve the Participants’ ability to produce for the Commission and the public high-quality quarterly reports. For these reasons, the Commission finds that the proposed changes to Appendix B.II.B contained in the Twentieth Amendment are consistent with Section 11A of the Act and Rule 608 thereunder. V. Conclusion It is therefore ordered, pursuant to Section 11A of the Act 12 and Rule 608 thereunder,13 that the Twentieth Amendment to the Plan (File No. 4–631) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.14 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–08795 Filed 4–24–20; 8:45 am] BILLING CODE P 9 15 U.S.C. 78k–1. CFR 242.608. 11 See Eighteenth Amendment Approval Order, supra note 6, at 84 FR 16086. 12 15 U.S.C. 78k–1. 13 17 CFR 242.608. 14 17 CFR 200.30–3(a)(29). 10 17 PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–88714; File No. SR– NYSECHX–2020–11] Self-Regulatory Organizations; NYSE Chicago, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Temporarily Extend the Time Within Which Institutional Brokers Are Required To Report NonTape, Clearing-Only Submissions Into the Exchange’s Systems April 21, 2020. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on April 20, 2020, the NYSE Chicago, Inc. (‘‘NYSE Chicago’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘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 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 that, for a temporary period that begins on April 20, 2020, and ends on the earlier of the reopening of all the options trading floors or after the end of the day on May 15, 2020, to temporarily extend the time within which Institutional Brokers are required to report non-tape, clearingonly submissions into the Exchange’s systems pursuant to Article 21, Rule 6(a)(3). 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. 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 E:\FR\FM\27APN1.SGM 27APN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 85, Number 81 (Monday, April 27, 2020)]
[Notices]
[Pages 23383-23384]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08795]


=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88704; File No. 4-631]


Joint Industry Plan; Order Approving the Twentieth Amendment to 
the National Market System Plan To Address Extraordinary Market 
Volatility by Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe 
EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Chicago Stock Exchange, 
Inc., Financial Industry Regulatory Authority, Inc., Investors Exchange 
LLC, Long-Term Stock Exchange, NASDAQ BX, Inc., NASDAQ PHLX LLC, The 
Nasdaq Stock Market LLC, NYSE National, Inc., New York Stock Exchange 
LLC, NYSE American LLC, and NYSE Arca, Inc.

April 21, 2020

I. Introduction

    On February 14, 2020, NYSE Group, Inc., on behalf of the following 
parties to the National Market System Plan to Address Extraordinary 
Market Volatility (``the Plan''): Cboe BZX Exchange, Inc., Cboe BYX 
Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., 
Chicago Stock Exchange, Inc., the Financial Industry Regulatory 
Authority, Inc. (``FINRA''), Investors Exchange LLC, Long-Term Stock 
Exchange (``LTSE''), NASDAQ BX, Inc., NASDAQ PHLX LLC, The NASDAQ Stock 
Market LLC (``Nasdaq''), New York Stock Exchange LLC (``NYSE''), NYSE 
Arca, Inc., NYSE National Inc., and NYSE American LLC (collectively, 
the ``Participants'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to Section 11A(a)(3) of the Securities 
Exchange Act of 1934 (``Exchange Act'') \1\ and Rule 608 thereunder,\2\ 
a proposal to amend the Plan (``Twentieth Amendment'').\3\ The proposed 
Twentieth Amendment was published in the Federal Register on March 23, 
2020.\4\ The Commission received no comments on the proposal.

[[Page 23384]]

This Order approves the Twentieth Amendment to the Plan as proposed.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ See Letter from Elizabeth King, General Counsel and 
Corporate Secretary, NYSE, to Vanessa Countryman, Secretary, 
Commission, dated February 13, 2020.
    \4\ See Securities Exchange Act Release No. 88406 (March 17, 
2020), 85 FR 16408 (``Notice'').
---------------------------------------------------------------------------

II. Background

    The Plan was approved in May 2012 on a pilot basis to ``allow the 
Participants and the public to gain valuable practical experience with 
Plan operations during the pilot period'' and to assess ``whether 
further modifications of the Plan are necessary or appropriate prior to 
final approval.'' \5\ On April 11, 2019, the Commission approved the 
Eighteenth Amendment to the Plan, which transitioned the Plan from 
operating on a pilot to a permanent basis and adopted a mechanism for 
periodic review and assessment of the Plan.\6\ As part of the mechanism 
for periodic review and assessment of the Plan, the Participants 
committed to provide the Commission with certain data on a quarterly 
and annual basis. In particular, the Participants agreed to provide the 
Commission, and make publicly available, quarterly reports providing 
basic statistics that could be used to identify trends in the 
performance and impact of the Plan on market activity. The Participants 
added to the Plan Section II.B of Appendix B (``Appendix B.II.B'') to 
specify the specific data points that would be included in the 
quarterly reports.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 67091, 77 FR 33498 
(June 6, 2012) (File No. 4-631) (``Plan Approval Order'') (approving 
Plan as amended).
    \6\ See Securities Exchange Act Release No. 85623, 84 FR 16086 
(April 17, 2019) (``Eighteenth Amendment Approval Order'').
---------------------------------------------------------------------------

III. Description of the Proposal

    The Participants propose to amend Appendix B.II.B to improve its 
clarity and transparency by revising and supplementing the current 
language.\7\ The Participants stated that, in the course of preparing 
to compile and aggregate the data required for the first quarterly 
report, they determined that the language of Appendix B.II.B could be 
improved by, among other things: (a) Emphasizing from the outset that 
the data should be aggregated across primary listing exchanges, (b) 
specifying the specific partitions that should be applied to each data 
point, (c) specifying the specific distribution statistics that should 
be applied to each data point, and (d) providing additional clarity as 
to what reopening data should be included.\8\
---------------------------------------------------------------------------

    \7\ The Participants also propose to make a non-substantive 
amendment to the Plan to reflect the name change of Chicago Stock 
Exchange, Inc. to NYSE Chicago, Inc and to change its address.
    \8\ See Notice supra note 4 at 85 FR 16409-11, for a more 
detailed description of proposed changes to Appendix B.II.B.
---------------------------------------------------------------------------

IV. Discussion

    The Commission finds that the Twentieth Amendment, as proposed, is 
consistent with the requirements of the Act and the rules and 
regulations thereunder. Specifically, the Commission finds that the 
Twentieth Amendment is consistent with Section 11A of the Act \9\ and 
Rule 608 thereunder \10\ in that the proposal is appropriate in the 
public interest, for the protection of investors and the maintenance of 
fair and orderly markets, and that it removes impediments to, and 
perfects the mechanism of, a national market system.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78k-1.
    \10\ 17 CFR 242.608.
---------------------------------------------------------------------------

    The Commission continues to believe, as it stated in the Eighteenth 
Amendment Approval Order, that ``the ongoing review and assessment 
requirements proposed by the Participants will both facilitate a 
robust, data-driven assessment of the Plan's effectiveness and provide 
the Commission and the public sufficient transparency of the 
effectiveness of the LULD mechanism necessary to help ensure the Plan 
remains designed to achieve its objective.'' \11\ We believe that the 
changes proposed in the Twentieth Amendments are consistent with these 
previously stated policy goals. Specifically, the proposed changes, 
which effectuate an important clarification concerning the method for 
aggregating data and precise descriptions of the required data elements 
for each quarterly report, will improve the Participants' ability to 
produce for the Commission and the public high-quality quarterly 
reports. For these reasons, the Commission finds that the proposed 
changes to Appendix B.II.B contained in the Twentieth Amendment are 
consistent with Section 11A of the Act and Rule 608 thereunder.
---------------------------------------------------------------------------

    \11\ See Eighteenth Amendment Approval Order, supra note 6, at 
84 FR 16086.
---------------------------------------------------------------------------

V. Conclusion

    It is therefore ordered, pursuant to Section 11A of the Act \12\ 
and Rule 608 thereunder,\13\ that the Twentieth Amendment to the Plan 
(File No. 4-631) be, and it hereby is, approved.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78k-1.
    \13\ 17 CFR 242.608.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(29).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-08795 Filed 4-24-20; 8:45 am]
 BILLING CODE P

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