Proposed Collection; Comment Request, 50854-50855 [2020-17993]

Download as PDF 50854 Federal Register / Vol. 85, No. 160 / Tuesday, August 18, 2020 / Notices • Send an email to rule-comments@ sec.gov. Please include File Number SR– BOX–2020–16 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–BOX–2020–16. 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/ 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–BOX–2020–16 and should be submitted by September 8, 2020. Rebuttal comments should be submitted by September 22, 2020. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.74 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–17968 Filed 8–17–20; 8:45 am] jbell on DSKJLSW7X2PROD with NOTICES BILLING CODE 8011–01–P 74 17 CFR 200.30–3(a)(57). VerDate Sep<11>2014 17:50 Aug 17, 2020 Jkt 250001 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–824; OMB Control No. 3235–0555] Proposed Collection; Comment Request Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Extension: Rule 608 Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) is soliciting comments on the existing collection of information provided for in Rule 608 (17 CFR 242.608) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). The Commission plans to submit this existing collection of information to the Office of Management and Budget (‘‘OMB’’) for extension and approval. Rule 608 specifies procedures for filing or amending national market system plans (‘‘NMS Plans’’). Selfregulatory organizations (‘‘SROs’’) filing a new NMS Plan must submit the text of the NMS Plan to the Commission, along with a statement of purpose, and, if applicable, specified supporting materials that may include: (1) A copy of all governing or constituent documents, (2) a description of the manner in which the NMS Plan, and any facility or procedure contemplated by the NMS Plan, will be implemented, (3) a listing of all significant phases of development and implementation contemplated by the NMS Plan, including a projected completion date for each phase, (4) an analysis of the competitive impact of implementing the NMS Plan, (5) a description of any written agreements or understandings between or among plan participants or sponsors relating to interpretations of the NMS Plan or conditions for becoming a plan participant or sponsor, and (6) a description of the manner in which any facility contemplated by the NMS Plan shall be operated. Participants or sponsors to the NMS Plan must ensure that a current and complete version of the NMS Plan is posted on a designated website or a plan website after being notified by the Commission that the NMS Plan is effective. Each plan participant or sponsor must also provide a link on its own website to the current website to the current version of the NMS Plan. The Commission estimates that the creation and submission of a new NMS PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 Plan and any related materials would result in an average aggregate burden of approximately 850 hours per year (25 SROs × 34 hours = 850 hours). The Commission further estimates an average aggregate burden of approximately 125 hours per year (25 SROs × 5 hours = 125 hours), for each of the SROs to keep a current and complete version of the NMS Plan posted on a designated website or a plan website, and to provide a link to the current version of the NMS Plan on its own website. In addition, the Commission estimates that the creation of a new NMS Plan and any related materials would result in an average aggregate cost of approximately $150,000 per year (25 SROs × $6,000 = $150,000). SROs proposing to amend an existing NMS Plan must submit the text of the amendment to the Commission, along with a statement of purpose, and, if applicable, the supporting materials described above, as well as a statement that the amendment has been approved by the plan participants or sponsors in accordance with the terms of the NMS Plan. Participants or sponsors to the NMS Plan must ensure that any proposed amendments are posted to a designated website or a plan website after filing the amendments with the Commission and that those websites are updated to reflect the current status of the amendment and the NMS Plan. Each plan participant or sponsor must also provide a link on its own website to the current version of the NMS Plan. The Commission estimates that the creation and submission of NMS Plan amendments and any related materials would result in an average aggregate burden of approximately 11,050 hours per year (25 SROs × 442 hours = 11,050 hours). The Commission further estimates an average aggregate burden of approximately 124 hours per year (25 SROs × 4.94 hours = 123.5 hours rounded up to 124) for SROs to post any pending NMS Plan amendments to a designated website or a plan website and to update such websites to reflect the current status of the amendment and the NMS Plan. In addition, the Commission estimates that the creation of a NMS Plan amendment and any related materials would result in an average aggregate cost of approximately $325,000 per year (25 SROs × $13,000 = $325,000). Finally, to the extent that a plan processor is required for any facility contemplated by a NMS Plan, the plan participants or sponsors must file with the Commission a statement identifying the plan processor selected, describing the material terms under which the plan E:\FR\FM\18AUN1.SGM 18AUN1 jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 85, No. 160 / Tuesday, August 18, 2020 / Notices processor is to serve, and indicating the solicitation efforts, if any, for alternative plan processors, the alternatives considered, and the reasons for the selection of the plan processor. The Commission estimates that the preparation and materials related to the selection of a plan processor would result in an average aggregate burden of approximately 283 hours per year (25 SROs × 11.33 hours = 283.33 rounded down to 233). In addition, the Commission estimates that the preparation and submission of materials related to the selection of a plan processor would result in an average aggregate cost of approximately $8,333 per year (25 SROs × $333.33 = $8,333.33 rounded down to $8,333). The above estimates result in a total annual industry burden of approximately 12,432 hours (850 + 125 + 11,050 + 124 + 283) and a total annual industry cost of approximately $483,333 ($150,000 + $325,000 + $8,333). Compliance with Rule 608 is mandatory. The text of the NMS Plans and any amendments will not be confidential, but published on a designated website or a plan website. To the extent that Rule 608 requires the SROs to submit confidential information to the Commission, that information will be kept confidential subject to the provisions of applicable law.1 The SROs are required by law to retain the records and information that are collected pursuant to Rule 608 for a period of not less than 5 years, the first 2 years in an easily accessible place.2 Rule 608 does not affect this existing requirement. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility; (b) the accuracy of the Commission’s estimates of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information 1 See, e.g., 5 U.S.C. 552 et seq.; 15 U.S.C. 78x (governing the public availability of information obtained by the Commission). 2 See 17 CFR 240.17a–1(b). VerDate Sep<11>2014 17:50 Aug 17, 2020 Jkt 250001 under the PRA unless it displays a currently valid OMB control number. Please direct your written comments to: David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_ Mailbox@sec.gov. Dated: August 13, 2020. J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–17993 Filed 8–17–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–89528; File No. SR–CBOE– 2020–072] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing of a Proposed Rule Change To Amend Its Rules Relating to the Processing of Auction Responses August 12, 2020. 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 July 30, 2020, Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the 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 Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) proposes to amend its rules relating to the processing of auction responses. The text of the proposed rule change is provided in Exhibit 5. The text of the proposed rule change is also available on the Exchange’s website (https://www.cboe.com/ AboutCBOE/ CBOELegalRegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00059 Fmt 4703 Sfmt 4703 50855 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 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange seeks to amend its rules related to its auction mechanisms to provide a dedicated path for auction response messages originating from logical ports that will allow the System to process such messages more efficiently. Specifically, the Exchange proposes to amend Rule 5.25 (Message Traffic Mitigation) to adopt two separate message queues which would allow for auction response messages to be processed by the System in priority sequence relative to other non-auction response message traffic on a rotating basis. Background The Exchange currently offers a variety of auction mechanisms which provide price improvement opportunities for eligible orders. Particularly, the Exchange offers the following auction mechanisms: Complex Order Auction (‘‘COA’’),3 Step Up Mechanism (‘‘SUM’’),4 Automated Improvement Mechanism (‘‘AIM’’),5 Complex AIM (‘‘C–AIM’’),6 Solicitation Auction Mechanism (‘‘SAM’’),7 Complex SAM (‘‘C–SAM’’),8 FLEX Auction Process,9 FLEX AIM 10 and FLEX SAM.11 The Exchange notes that eligible orders are electronically exposed for an Exchange determined period (collectively referred to herein as ‘‘auction response period’’) in accordance with the applicable Exchange Rule, during which time 3 See Rule 5.33(d). Rule 5.35. 5 See Rule 5.37. 6 See Rule 5.38. 7 See Rule 5.39. 8 See Rule 5.40. 9 See Rule 5.72(c). 10 See Rule 5.73. 11 See Rule 5.74. 4 See E:\FR\FM\18AUN1.SGM 18AUN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 85, Number 160 (Tuesday, August 18, 2020)]
[Notices]
[Pages 50854-50855]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-17993]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-824; OMB Control No. 3235-0555]


Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

Extension: Rule 608

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (``PRA'') (44 U.S.C. 3501 et seq.), the Securities and 
Exchange Commission (``Commission'') is soliciting comments on the 
existing collection of information provided for in Rule 608 (17 CFR 
242.608) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et 
seq.). The Commission plans to submit this existing collection of 
information to the Office of Management and Budget (``OMB'') for 
extension and approval.
    Rule 608 specifies procedures for filing or amending national 
market system plans (``NMS Plans''). Self-regulatory organizations 
(``SROs'') filing a new NMS Plan must submit the text of the NMS Plan 
to the Commission, along with a statement of purpose, and, if 
applicable, specified supporting materials that may include: (1) A copy 
of all governing or constituent documents, (2) a description of the 
manner in which the NMS Plan, and any facility or procedure 
contemplated by the NMS Plan, will be implemented, (3) a listing of all 
significant phases of development and implementation contemplated by 
the NMS Plan, including a projected completion date for each phase, (4) 
an analysis of the competitive impact of implementing the NMS Plan, (5) 
a description of any written agreements or understandings between or 
among plan participants or sponsors relating to interpretations of the 
NMS Plan or conditions for becoming a plan participant or sponsor, and 
(6) a description of the manner in which any facility contemplated by 
the NMS Plan shall be operated. Participants or sponsors to the NMS 
Plan must ensure that a current and complete version of the NMS Plan is 
posted on a designated website or a plan website after being notified 
by the Commission that the NMS Plan is effective. Each plan participant 
or sponsor must also provide a link on its own website to the current 
website to the current version of the NMS Plan.
    The Commission estimates that the creation and submission of a new 
NMS Plan and any related materials would result in an average aggregate 
burden of approximately 850 hours per year (25 SROs x 34 hours = 850 
hours). The Commission further estimates an average aggregate burden of 
approximately 125 hours per year (25 SROs x 5 hours = 125 hours), for 
each of the SROs to keep a current and complete version of the NMS Plan 
posted on a designated website or a plan website, and to provide a link 
to the current version of the NMS Plan on its own website. In addition, 
the Commission estimates that the creation of a new NMS Plan and any 
related materials would result in an average aggregate cost of 
approximately $150,000 per year (25 SROs x $6,000 = $150,000).
    SROs proposing to amend an existing NMS Plan must submit the text 
of the amendment to the Commission, along with a statement of purpose, 
and, if applicable, the supporting materials described above, as well 
as a statement that the amendment has been approved by the plan 
participants or sponsors in accordance with the terms of the NMS Plan. 
Participants or sponsors to the NMS Plan must ensure that any proposed 
amendments are posted to a designated website or a plan website after 
filing the amendments with the Commission and that those websites are 
updated to reflect the current status of the amendment and the NMS 
Plan. Each plan participant or sponsor must also provide a link on its 
own website to the current version of the NMS Plan. The Commission 
estimates that the creation and submission of NMS Plan amendments and 
any related materials would result in an average aggregate burden of 
approximately 11,050 hours per year (25 SROs x 442 hours = 11,050 
hours). The Commission further estimates an average aggregate burden of 
approximately 124 hours per year (25 SROs x 4.94 hours = 123.5 hours 
rounded up to 124) for SROs to post any pending NMS Plan amendments to 
a designated website or a plan website and to update such websites to 
reflect the current status of the amendment and the NMS Plan. In 
addition, the Commission estimates that the creation of a NMS Plan 
amendment and any related materials would result in an average 
aggregate cost of approximately $325,000 per year (25 SROs x $13,000 = 
$325,000).
    Finally, to the extent that a plan processor is required for any 
facility contemplated by a NMS Plan, the plan participants or sponsors 
must file with the Commission a statement identifying the plan 
processor selected, describing the material terms under which the plan

[[Page 50855]]

processor is to serve, and indicating the solicitation efforts, if any, 
for alternative plan processors, the alternatives considered, and the 
reasons for the selection of the plan processor. The Commission 
estimates that the preparation and materials related to the selection 
of a plan processor would result in an average aggregate burden of 
approximately 283 hours per year (25 SROs x 11.33 hours = 283.33 
rounded down to 233). In addition, the Commission estimates that the 
preparation and submission of materials related to the selection of a 
plan processor would result in an average aggregate cost of 
approximately $8,333 per year (25 SROs x $333.33 = $8,333.33 rounded 
down to $8,333).
    The above estimates result in a total annual industry burden of 
approximately 12,432 hours (850 + 125 + 11,050 + 124 + 283) and a total 
annual industry cost of approximately $483,333 ($150,000 + $325,000 + 
$8,333).
    Compliance with Rule 608 is mandatory. The text of the NMS Plans 
and any amendments will not be confidential, but published on a 
designated website or a plan website. To the extent that Rule 608 
requires the SROs to submit confidential information to the Commission, 
that information will be kept confidential subject to the provisions of 
applicable law.\1\ The SROs are required by law to retain the records 
and information that are collected pursuant to Rule 608 for a period of 
not less than 5 years, the first 2 years in an easily accessible 
place.\2\ Rule 608 does not affect this existing requirement.
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    \1\ See, e.g., 5 U.S.C. 552 et seq.; 15 U.S.C. 78x (governing 
the public availability of information obtained by the Commission).
    \2\ See 17 CFR 240.17a-1(b).
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    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Commission, including whether the information 
shall have practical utility; (b) the accuracy of the Commission's 
estimates of the burden of the proposed collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology. 
Consideration will be given to comments and suggestions submitted in 
writing within 60 days of this publication.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information under the PRA unless it 
displays a currently valid OMB control number.
    Please direct your written comments to: David Bottom, Director/
Chief Information Officer, Securities and Exchange Commission, c/o 
Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email 
to: [email protected].

    Dated: August 13, 2020.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-17993 Filed 8-17-20; 8:45 am]
BILLING CODE 8011-01-P

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