Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay the Implementation of Certain Trading Functionality, 36350-36351 [2023-11715]
Download as PDF
<![CDATA[
36350
Federal Register / Vol. 88, No. 106 / Friday, June 2, 2023 / Notices
The third
National Plan is being developed by the
U.S. Group on Earth Observations, a
team of interagency experts. It will
explore opportunities for the entire U.S.
Earth Observation Enterprise—a wide
variety of stakeholders, including
Federal departments and agencies,
national laboratories, academia, nonprofits, the private sector, think tanks,
and state/local/Tribal governments—to
better leverage Earth Observations to
address key societal challenges and
trends of the coming decade.
More coordinated and effective uses
of Earth Observations will improve the
United States’ capability to understand,
monitor, and forecast changes to the
Earth system, which will enhance the
Earth Observation Enterprise ability to
achieve key objectives (e.g., greenhouse
gas emissions reductions). Beyond
examining key thematic areas for which
Earth Observations can be better
leveraged to achieve desired future
states, the third National Plan will also
provide recommendations for near- and
mid-term actions needed to enable the
achievement of those objectives, along
with discussion of technical and nontechnical cross-cutting issues that
transcend thematic areas.
The first National Plan for Civil Earth
Observations was released in 2014 as a
supplement to the 2014 Presidential
Budget Request. It was written in
response to a need identified by the
2013 National Strategy for Civil Earth
Observations, and by section 702 of the
NASA Authorization Act of 2010 (Pub.
L. 111–267). The first National Plan’s
objective was to enable better
coordination of Earth Observation data
collection, management, use, and
associated investment across Federal
departments and agencies. The 2013
National Strategy recommended that the
National Plan be updated every three
years to guide policy and budget
decision-making using the latest
information. The second National Plan
(summary, full) was released in 2019
and extended the vision for
collaboration and coordination beyond
the Federal Government to include the
larger Earth Observation Enterprise.
lotter on DSK11XQN23PROD with NOTICES1
SUPPLEMENTARY INFORMATION:
Dated: May 30, 2023.
Stacy Murphy,
Deputy Chief Operations Officer/Security
Officer.
[FR Doc. 2023–11796 Filed 6–1–23; 8:45 am]
BILLING CODE 3270–F1–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–97605; File No. SR–ISE–
2023–10]
Self-Regulatory Organizations; Nasdaq
ISE, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Delay the
Implementation of Certain Trading
Functionality
May 26, 2023.
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 May 17,
2023, Nasdaq ISE, LLC (‘‘ISE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘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
The Exchange proposes to delay the
implementation of certain trading
functionality rule changes.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/ise/rules, 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
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
In connection with a technology
migration to an enhanced Nasdaq, Inc.
(‘‘Nasdaq’’) functionality, the Exchange
1 15
2 17
VerDate Sep<11>2014
17:34 Jun 01, 2023
Jkt 259001
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00079
Fmt 4703
Sfmt 4703
filed various rule changes to adopt
certain trading functionality currently
utilized at Nasdaq affiliate exchanges.
At this time, the Exchange proposes to
delay the implementation of the various
rule changes. Each impacted rule
change and the new implementation
date is described below.
Impacted Rule Filings
The Exchange filed the following rule
changes in connection with its
technology migration:
D SR–ISE–2022–11 which impacts
routing; 3
D SR–ISE–2022–25 which amended
ATR and Repricing Rules; 4
D SR–ISE–2022–28 which amended
Complex Order Rules; 5 and
D SR–ISE–2023–06 a rule change
amending multiple functionalities.6
The aforementioned rule changes
(collectively ‘‘Impacted Rule Changes’’)
indicated that the technology migration
for ISE would commence by Q4 2023 or
prior to December 2023.
New Implementation
At this time, the Exchange proposes to
delay the implementation of the
Impacted Rule Changes, which all relate
to ISE’s upcoming technology migration,
to a date prior to December 20, 2024.
The Exchange will announce the initial
migration date and symbol rollout
schedule to Members in an Options
Trader Alert.
The Exchange proposes to delay the
migration to allow the Nasdaq GEMX,
LLC (‘‘GEMX’’) migration 7 to complete
3 See Securities Exchange Act Release No. 94897
(May 12, 2022), 87 FR 30294 (May 18, 2022) (SR–
ISE–2022–11) (Notice of Filing and Immediate
Effectiveness of Proposed Rule Change To Amend
Routing Functionality in Connection With a
Technology Migration).
4 See Securities Exchange Act Release No. 96362
(November 18, 2022), 87 FR 72539 (November 25,
2022) (SR–ISE–2022–25) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change
To Amend ATR and Re-Pricing Rules in Connection
With a Technology Migration to Enhanced Nasdaq
Functionality).
5 See Securities Exchange Act Release No. 96518
(December 16, 2022), 87 FR 78740 (December 22,
2022) (SR–ISE–2022–28) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change
To Amend Certain ISE Complex Order
Functionalities in Connection With a Technology
Migration).
6 See Securities Exchange Act Release No. 96818
(February 6, 2023), 88 FR 8950 (February 10, 2023)
(SR–ISE–2023–06) (Notice of Filing and Immediate
Effectiveness of Proposed Rule Change To Amend
Its Rules in Connection With a Technology
Migration to Enhanced Nasdaq, Inc. (‘‘Nasdaq’’)
Functionality).
7 GEMX’s migration will commence on November
6, 2023. See https://www.nasdaqtrader.com/
MicroNews.aspx?id=OTA2023-4. See also Securities
Exchange Act Release No. 97126 (March 13, 2023),
88 FR 16485 (March 17, 2023) (SR–GEMX–2023–04)
(Notice of Filing and Immediate Effectiveness of
Proposed Rule Change To Delay the
Implementation of Certain Trading Functionality).
E:\FR\FM\02JNN1.SGM
02JNN1
Federal Register / Vol. 88, No. 106 / Friday, June 2, 2023 / Notices
and thereafter allow the Exchange and
its Members additional time to prepare
and test the new ISE functionality.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act,8 in general, and furthers the
objectives of section 6(b)(5) of the Act,9
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest for the reasons discussed
below. The Exchange proposes to delay
the implementation of the Impacted
Rule Changes, which all relate to ISE’s
upcoming technology migration, to
allow the GEMX migration to
complete 10 and thereafter allow the
Exchange and its Members additional
time to prepare and test the new
functionality. The Exchange believes
that the delay is consistent with the Act
because the additional time will allow
the Exchange to ensure a successful ISE
migration while protecting investors
and the public interest by allowing the
Exchange and Members more time to
prepare and test.
The Exchange notes that the
substance of the impacted rules is not
changing, only the implementation
timeline is changing with this proposal.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange’s proposal to delay the
implementation of the Impacted Rule
Changes does not impose an undue
burden on competition. The proposed
delay will allow the GEMX migration to
complete 11 and thereafter allow the
Exchange and its Members additional
time to prepare and test the new
functionality.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
lotter on DSK11XQN23PROD with NOTICES1
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) significantly affect
the protection of investors or the public
8 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
10 See note 7.
11 See note 7.
9 15
VerDate Sep<11>2014
17:34 Jun 01, 2023
Jkt 259001
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to section
19(b)(3)(A)(iii) of the Act 12 and
subparagraph (f)(6) of Rule 19b–4
thereunder.13
At any time within 60 days of the
filing of the 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
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
36351
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 such
filing also will be available for
inspection and copying at the principal
office of the Exchange. Do not include
personal identifiable information in
submissions; you should submit only
information that you wish to make
available publicly. We may redact in
part or withhold entirely from
publication submitted material that is
obscene or subject to copyright
protection. All submissions should refer
to File Number SR–ISE–2023–10 and
should be submitted on or before June
23, 2023.
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Lynn Taylor,
Assistant Secretary.
Electronic Comments
[FR Doc. 2023–11715 Filed 6–1–23; 8:45 am]
• 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–2023–10 on the subject line.
BILLING CODE 8011–01–P
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–ISE–2023–10. 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
12 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
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.
13 17
PO 00000
Frm 00080
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–97602; File No. SR–OCC–
2023–003]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Partial Amendment No. 1 to
Proposed Rule Change by The Options
Clearing Corporation Concerning
Clearing Member Cybersecurity
Obligations
May 26, 2023.
On March 21, 2023, the Options
Clearing Corporation (‘‘OCC’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change SR–OCC–2023–
003 pursuant to Section 19(b) of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) 1 and Rule 19b–4 2
thereunder to amend certain provisions
in OCC’s Rules relating to Clearing
Member cybersecurity obligations to
address the occurrence of a cyberrelated disruption or intrusion of a
Clearing Member (‘‘Security Incident’’).
The proposed rule change was
published for public comment in the
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\02JNN1.SGM
02JNN1
]]>Agencies
[Federal Register Volume 88, Number 106 (Friday, June 2, 2023)]
[Notices]
[Pages 36350-36351]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-11715]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97605; File No. SR-ISE-2023-10]
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Delay the
Implementation of Certain Trading Functionality
May 26, 2023.
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 May 17, 2023, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed with
the Securities and Exchange Commission (``SEC'' or ``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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to delay the implementation of certain
trading functionality rule changes.
The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/ise/rules, 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 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
In connection with a technology migration to an enhanced Nasdaq,
Inc. (``Nasdaq'') functionality, the Exchange filed various rule
changes to adopt certain trading functionality currently utilized at
Nasdaq affiliate exchanges. At this time, the Exchange proposes to
delay the implementation of the various rule changes. Each impacted
rule change and the new implementation date is described below.
Impacted Rule Filings
The Exchange filed the following rule changes in connection with
its technology migration:
[ssquf] SR-ISE-2022-11 which impacts routing; \3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 94897 (May 12,
2022), 87 FR 30294 (May 18, 2022) (SR-ISE-2022-11) (Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Routing
Functionality in Connection With a Technology Migration).
---------------------------------------------------------------------------
[ssquf] SR-ISE-2022-25 which amended ATR and Repricing Rules; \4\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 96362 (November 18,
2022), 87 FR 72539 (November 25, 2022) (SR-ISE-2022-25) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
ATR and Re-Pricing Rules in Connection With a Technology Migration
to Enhanced Nasdaq Functionality).
---------------------------------------------------------------------------
[ssquf] SR-ISE-2022-28 which amended Complex Order Rules; \5\ and
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 96518 (December 16,
2022), 87 FR 78740 (December 22, 2022) (SR-ISE-2022-28) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Certain ISE Complex Order Functionalities in Connection With a
Technology Migration).
---------------------------------------------------------------------------
[ssquf] SR-ISE-2023-06 a rule change amending multiple
functionalities.\6\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 96818 (February 6,
2023), 88 FR 8950 (February 10, 2023) (SR-ISE-2023-06) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Its Rules in Connection With a Technology Migration to Enhanced
Nasdaq, Inc. (``Nasdaq'') Functionality).
---------------------------------------------------------------------------
The aforementioned rule changes (collectively ``Impacted Rule
Changes'') indicated that the technology migration for ISE would
commence by Q4 2023 or prior to December 2023.
New Implementation
At this time, the Exchange proposes to delay the implementation of
the Impacted Rule Changes, which all relate to ISE's upcoming
technology migration, to a date prior to December 20, 2024. The
Exchange will announce the initial migration date and symbol rollout
schedule to Members in an Options Trader Alert.
The Exchange proposes to delay the migration to allow the Nasdaq
GEMX, LLC (``GEMX'') migration \7\ to complete
[[Page 36351]]
and thereafter allow the Exchange and its Members additional time to
prepare and test the new ISE functionality.
---------------------------------------------------------------------------
\7\ GEMX's migration will commence on November 6, 2023. See
https://www.nasdaqtrader.com/MicroNews.aspx?id=OTA2023-4. See also
Securities Exchange Act Release No. 97126 (March 13, 2023), 88 FR
16485 (March 17, 2023) (SR-GEMX-2023-04) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change To Delay the
Implementation of Certain Trading Functionality).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with section
6(b) of the Act,\8\ in general, and furthers the objectives of section
6(b)(5) of the Act,\9\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest for the reasons discussed below. The Exchange proposes
to delay the implementation of the Impacted Rule Changes, which all
relate to ISE's upcoming technology migration, to allow the GEMX
migration to complete \10\ and thereafter allow the Exchange and its
Members additional time to prepare and test the new functionality. The
Exchange believes that the delay is consistent with the Act because the
additional time will allow the Exchange to ensure a successful ISE
migration while protecting investors and the public interest by
allowing the Exchange and Members more time to prepare and test.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
\10\ See note 7.
---------------------------------------------------------------------------
The Exchange notes that the substance of the impacted rules is not
changing, only the implementation timeline is changing with this
proposal.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange's proposal to
delay the implementation of the Impacted Rule Changes does not impose
an undue burden on competition. The proposed delay will allow the GEMX
migration to complete \11\ and thereafter allow the Exchange and its
Members additional time to prepare and test the new functionality.
---------------------------------------------------------------------------
\11\ See note 7.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to section 19(b)(3)(A)(iii) of the Act \12\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\13\
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A)(iii).
\13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file 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.
---------------------------------------------------------------------------
At any time within 60 days of the filing of the 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 to
determine whether the proposed rule 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 [email protected]. Please include
File Number SR-ISE-2023-10 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-ISE-2023-10. 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 such filing also will be available for inspection
and copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection. All submissions
should refer to File Number SR-ISE-2023-10 and should be submitted on
or before June 23, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 2023-11715 Filed 6-1-23; 8:45 am]
BILLING CODE 8011-01-P
