Proposed Collection; Comment Request; Extension: Rule 302, 58405-58406 [2022-20726]

Download as PDF Federal Register / Vol. 87, No. 185 / Monday, September 26, 2022 / Notices consents, the Commission will: (a) by order approve or disapprove such proposed rule change, or (b) institute proceedings to determine whether the proposed rule change should be 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 submitted on or before October 17, 2022. SECURITIES AND EXCHANGE COMMISSION For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.20 J. Matthew DeLesDernier, Deputy Secretary. [SEC File No. 270–453, OMB Control No. 3235–0510] [FR Doc. 2022–20731 Filed 9–23–22; 8:45 am] Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 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 302 (17 CFR 242.302) of Regulation ATS (17 CFR 242.300 et seq.) under the Securities and Exchange Act of 1934 (‘‘Act’’) (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. Regulation ATS sets forth a regulatory regime for ‘‘alternative trading systems’’ (‘‘ATSs’’). An entity that meets the definition of an exchange must register, pursuant to Section 5 of the Exchange Act, as a national securities exchange under Section 6 of the Exchange Act 1 or operate pursuant to an appropriate exemption.2 One of the available exemptions is for ATSs.3 Exchange Act Rule 3a1–1(a)(2) exempts from the definition of ‘‘exchange’’ under Section 3(a)(1) an organization, association, or group of persons that complies with Regulation ATS.4 Regulation ATS requires an ATS to, among other things, register as a broker-dealer with the Securities and Exchange Commission (‘‘SEC’’), file a Form ATS with the Commission to notice its operations, and establish written safeguards and procedures to protect subscribers’ confidential trading information. An ATS that complies with Regulation ATS and operates pursuant to the Rule 3a1– BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–95843; File No. SR–MEMX– 2022–20] • 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– ISE–2022–18 on the subject line. Self-Regulatory Organizations; MEMX LLC; Notice of Withdrawal of a Proposed Rule Change To Update Exchange Rule 13.4(a) Regarding the Exchange’s Usage of Data Feeds Paper Comments On July 26, 2022, MEMX LLC (‘‘MEMX’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 1 and Rule 19b–4 thereunder,2 a proposed rule change to update Exchange Rule 13.4(a) regarding the sources of data that the Exchange utilizes for the handling, execution and routing of orders, as well as for surveillance necessary to monitor compliance with applicable securities laws and Exchange rules, with respect to certain market centers. The filing was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b– 4(f)(6) thereunder.4 The proposed rule change was published for comment in the Federal Register on August 4, 2022.5 On September 19, 2022, MEMX withdrew the proposed rule change (SR–MEMX–2022–20). • 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–ISE–2022–18. 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–ISE–2022–18 and should be VerDate Sep<11>2014 16:43 Sep 23, 2022 Jkt 256001 58405 September 20, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–20733 Filed 9–23–22; 8:45 am] BILLING CODE 8011–01–P 20 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 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires a self-regulatory organization 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. 5 See Securities Exchange Act Release No. 95395 (July 29, 2022), 87 FR 47799. 6 17 CFR 200.30–3(a)(12). 1 15 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 Proposed Collection; Comment Request; Extension: Rule 302 1 See 15 U.S.C. 78e and 78f. A ‘‘national securities exchange’’ is an exchange registered as such under Section 6 of the Exchange Act. 2 15 U.S.C. 78a et seq. 3 Rule 300(a) of Regulation ATS provides that an ATS is ‘‘any organization, association, person, group of persons, or system: (1) [t]hat constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange within the meaning of [Exchange Act Rule 3b–16]; and (2) [t]hat does not: (i) [s]et rules governing the conduct of subscribers other than the conduct of subscribers’ trading on such [ATS]; or (ii) [d]iscipline subscribers other than by exclusion from trading.’’ 4 See 17 CFR 240.3a1–1(a)(2). E:\FR\FM\26SEN1.SGM 26SEN1 58406 Federal Register / Vol. 87, No. 185 / Monday, September 26, 2022 / Notices 1(a)(2) exemption would not be required by Section 5 to register as a national securities exchange. Rule 302 of Regulation ATS (17 CFR 242.302) describes the recordkeeping requirements for ATSs. Under Rule 302, ATSs are required to, among other things, make a record of subscribers to the ATS, daily summaries of trading in the ATS, and time-sequenced records of order information in the ATS. The information required to be collected under Rule 302 should increase the abilities of the Commission, state securities regulatory authorities, and the self-regulatory organizations to ensure that ATSs are in compliance with Regulation ATS as well as other applicable rules and regulations. If the information is not collected or collected less frequently, the regulators would be limited in their ability to comply with their statutory obligations, provide for the protection of investors, and promote the maintenance of fair and orderly markets. Respondents consist of ATSs that choose to operate pursuant to the exemption provided by Regulation ATS from registration as national securities exchanges. There are currently 101 respondents. These respondents will spend a total of approximately 4,545 hours per year (101 respondents at 45 burden hours/respondent) to comply with the recordkeeping requirements of Rule 302. At an average cost per burden hour of $83, the resultant total related total internal cost of compliance for these respondents is approximately $377,235 per year (4,545 burden hours multiplied by $83/hour). 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 by November 25, 2022. 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 comment to David Bottom, Director/Chief Information Officer, Securities and VerDate Sep<11>2014 16:43 Sep 23, 2022 Jkt 256001 Exchange Commission, c/o John Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: PRA_ Mailbox@sec.gov. Dated: September 20, 2022. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–20726 Filed 9–23–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–95844; File No. SR– CboeBYX–2022–021] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule September 20, 2022. 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 September 7, 2022, Cboe BYX Exchange, Inc. (‘‘Exchange’’ or ‘‘BYX’’) 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 BYX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘BYX’’ or ‘‘BYX Equities’’) is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to amend its Fee Schedule. 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://markets.cboe.com/us/ equities/regulation/rule_filings/byx/), at the Exchange’s Office of the Secretary, 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 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00099 Fmt 4703 Sfmt 4703 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 proposes to amend its Fee Schedule to adopt monthly fees assessed to Users 3 that elect to subscribe to the Short Volume Report, effective, August 24, 2022.4 On August 9, 2022, the Exchange introduced a new data product known as the Short Volume Report.5 The Short Volume Report, which will be available on August 24, 2022, is an end-of-day report that provides certain equity trading activity on the Exchange, and includes trade date, total volume, sell short volume, and sell short exempt volume, by symbol.6 In addition to the daily subscription, a Member 7 or nonMember may purchase the Short Volume Report on a historical monthly basis, which provides the end-of-day report for each day during a given calendar month. The Exchange proposes to adopt fees applicable to Users that subscribe to the Short Volume Report. As proposed, the Exchange would assess a monthly 8 fee of $50 per month to an Internal Distributor 9 and a fee of $75 per month 3 A ‘‘User’’ of an Exchange Market Data product is a natural person, a proprietorship, corporation, partnership, or entity, or device (computer or other automated service), that is entitled to receive Exchange data. See the BYX Equities Exchange Fee Schedule at https://www.cboe.com/us/equities/ membership/fee_schedule/byx/. 4 The Exchange initially filed the proposed fee changes on August 24, 2022 (SR–CboeBYX–2022– 020). On September 7, 2022, the Exchange withdrew that filing and submitted this filing. 5 See Securities Exchange Act No. 95548 (August 18, 2022) 87 FR 52087 (August 24, 2022) (SR– CboeBYX–2022–019). 6 See Exchange Rule 11.22(f). 7 See Exchange Rule 1.5(n). 8 The monthly fees for the Short Volume Report end-of-day reports are assessed based on a 30-day period. For example, if a User subscribes to the Short Volume Report on September 15, 2022, the monthly fee will cover the period of September 15, 2022 through October 15, 2022. If the User cancels its subscription prior to October 15, 2022, the User will not be charged for (or have access to) Short Volume Reports for the remainder of October. 9 An ‘‘Internal Distributor’’ of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product and then distributes that data to one or more Users within the Distributor’s own entity. Supra note 3. E:\FR\FM\26SEN1.SGM 26SEN1

Agencies

[Federal Register Volume 87, Number 185 (Monday, September 26, 2022)]
[Notices]
[Pages 58405-58406]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-20726]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-453, OMB Control No. 3235-0510]


Proposed Collection; Comment Request; Extension: Rule 302

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

    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 302 (17 CFR 
242.302) of Regulation ATS (17 CFR 242.300 et seq.) under the 
Securities and Exchange Act of 1934 (``Act'') (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.
    Regulation ATS sets forth a regulatory regime for ``alternative 
trading systems'' (``ATSs''). An entity that meets the definition of an 
exchange must register, pursuant to Section 5 of the Exchange Act, as a 
national securities exchange under Section 6 of the Exchange Act \1\ or 
operate pursuant to an appropriate exemption.\2\ One of the available 
exemptions is for ATSs.\3\ Exchange Act Rule 3a1-1(a)(2) exempts from 
the definition of ``exchange'' under Section 3(a)(1) an organization, 
association, or group of persons that complies with Regulation ATS.\4\ 
Regulation ATS requires an ATS to, among other things, register as a 
broker-dealer with the Securities and Exchange Commission (``SEC''), 
file a Form ATS with the Commission to notice its operations, and 
establish written safeguards and procedures to protect subscribers' 
confidential trading information. An ATS that complies with Regulation 
ATS and operates pursuant to the Rule 3a1-

[[Page 58406]]

1(a)(2) exemption would not be required by Section 5 to register as a 
national securities exchange.
---------------------------------------------------------------------------

    \1\ See 15 U.S.C. 78e and 78f. A ``national securities 
exchange'' is an exchange registered as such under Section 6 of the 
Exchange Act.
    \2\ 15 U.S.C. 78a et seq.
    \3\ Rule 300(a) of Regulation ATS provides that an ATS is ``any 
organization, association, person, group of persons, or system: (1) 
[t]hat constitutes, maintains, or provides a market place or 
facilities for bringing together purchasers and sellers of 
securities or for otherwise performing with respect to securities 
the functions commonly performed by a stock exchange within the 
meaning of [Exchange Act Rule 3b-16]; and (2) [t]hat does not: (i) 
[s]et rules governing the conduct of subscribers other than the 
conduct of subscribers' trading on such [ATS]; or (ii) [d]iscipline 
subscribers other than by exclusion from trading.''
    \4\ See 17 CFR 240.3a1-1(a)(2).
---------------------------------------------------------------------------

    Rule 302 of Regulation ATS (17 CFR 242.302) describes the 
recordkeeping requirements for ATSs. Under Rule 302, ATSs are required 
to, among other things, make a record of subscribers to the ATS, daily 
summaries of trading in the ATS, and time-sequenced records of order 
information in the ATS.
    The information required to be collected under Rule 302 should 
increase the abilities of the Commission, state securities regulatory 
authorities, and the self-regulatory organizations to ensure that ATSs 
are in compliance with Regulation ATS as well as other applicable rules 
and regulations. If the information is not collected or collected less 
frequently, the regulators would be limited in their ability to comply 
with their statutory obligations, provide for the protection of 
investors, and promote the maintenance of fair and orderly markets.
    Respondents consist of ATSs that choose to operate pursuant to the 
exemption provided by Regulation ATS from registration as national 
securities exchanges. There are currently 101 respondents. These 
respondents will spend a total of approximately 4,545 hours per year 
(101 respondents at 45 burden hours/respondent) to comply with the 
recordkeeping requirements of Rule 302. At an average cost per burden 
hour of $83, the resultant total related total internal cost of 
compliance for these respondents is approximately $377,235 per year 
(4,545 burden hours multiplied by $83/hour).
    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 by November 25, 2022.
    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 comment to David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o John 
Pezzullo, 100 F Street NE, Washington, DC 20549 or send an email to: 
[email protected].

    Dated: September 20, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-20726 Filed 9-23-22; 8:45 am]
BILLING CODE 8011-01-P
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