Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change To Increase Fees for the ToM Market Data Product and Establish Fees for the cToM Market Data Product, 89484-89485 [2023-28454]

Download as PDF 89484 Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 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 after the date of the filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, it has become effective pursuant to section 19(b)(3)(A) of the Act 17 and Rule 19b–4(f)(6) 18 thereunder. A proposed rule change filed under Rule 19b–4(f)(6) 19 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b–4(f)(6)(iii),20 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. According to the Exchange, waiver of the 30-day operative delay would ensure fair competition among the exchanges by allowing the Exchange to permit the listing of two Wednesday expirations for options on the ETPs. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest because the proposed rule change does not raise any new or novel issues.21 Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposed rule change as operative upon filing.22 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 17 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, 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. 19 17 CFR 240.19b–4(f)(6). 20 17 CFR 240.19b–4(f)(6)(iii). 21 See supra note 3. 22 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). ddrumheller on DSK120RN23PROD with NOTICES1 18 17 VerDate Sep<11>2014 19:00 Dec 26, 2023 Jkt 262001 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. [FR Doc. 2023–28453 Filed 12–26–23; 8:45 am] IV. Solicitation of Comments BILLING CODE 8011–01–P Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include file number SR– MEMX–2023–35 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–MEMX–2023–35. 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 a.m. and 3 p.m. Copies of the 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–MEMX–2023–35 and should be submitted on or before January 17, 2024. PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 Christina Z. Milnor, Assistant Secretary. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99210; File No. SR–MIAX– 2023–23] Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change To Increase Fees for the ToM Market Data Product and Establish Fees for the cToM Market Data Product December 20, 2023. On June 7, 2023, Miami International Securities Exchange, LLC (‘‘MIAX’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 a proposed rule change (File Number SR–MIAX–2023–23) to increase fees for the MIAX Top of Market (‘‘ToM’’) market data product and establish fees for the MIAX Complex Top of Market (‘‘cToM’’) market data product. The proposed rule change was immediately effective upon filing with the Commission pursuant to section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register on June 26, 2023.4 On August 3, 2023, the Commission issued an order temporarily suspending the proposed rule change pursuant to section 19(b)(3)(C) of the Act 5 and simultaneously instituting proceedings under section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 23 17 CFR 200.30–3(a)(12), (59). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take effect upon filing with the Commission if it is designated by the exchange as ‘‘establishing or changing a due, fee, or other charge imposed by the self-regulatory organization on any person, whether or not the person is a member of the self-regulatory organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii). 4 See Securities Exchange Act Release No. 97768 (June 20, 2023), 88 FR 41423 (‘‘Notice’’). 5 15 U.S.C. 78s(b)(3)(C). 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 98050, 88 FR 53941 (August 9, 2023) (‘‘Order Instituting Proceedings’’). 1 15 E:\FR\FM\27DEN1.SGM 27DEN1 Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices Section 19(b)(2) of the Act 8 provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on June 26, 2023.9 December 23, 2023 is 180 days from that date, and February 21, 2024 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to section 19(b)(2) of the Act,10 designates February 21, 2024 as the date by which the Commission shall either approve or disapprove the proposed rule change (File No. SR–MIAX–2023–23). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Christina Z. Milnor, Assistant Secretary. [FR Doc. 2023–28454 Filed 12–26–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99209; File No. SR– EMERALD–2023–13] Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Change To Increase Fees for the ToM Market Data Product and Establish Fees for the cToM Market Data Product ddrumheller on DSK120RN23PROD with NOTICES1 December 20, 2023. On June 7, 2023, MIAX Emerald, LLC (‘‘MIAX Emerald’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and 8 15 U.S.C. 78s(b)(2). Notice, supra note 4. 10 15 U.S.C. 78s(b)(2). 11 17 CFR 200.30–3(a)(57). 1 15 U.S.C. 78s(b)(1). 9 See VerDate Sep<11>2014 19:00 Dec 26, 2023 Jkt 262001 Rule 19b–4 thereunder,2 a proposed rule change (File Number SR–EMERALD– 2023–13) to increase fees for the MIAX Emerald Top of Market (‘‘ToM’’) market data product and establish fees for the MIAX Emerald Complex Top of Market (‘‘cToM’’) market data product. The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register on June 26, 2023.4 On August 3, 2023, the Commission issued an order temporarily suspending the proposed rule change pursuant to Section 19(b)(3)(C) of the Act 5 and simultaneously instituting proceedings under Section 19(b)(2)(B) of the Act 6 to determine whether to approve or disapprove the proposed rule change.7 Section 19(b)(2) of the Act 8 provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on June 26, 2023.9 December 23, 2023 is 180 days from that date, and February 21, 2024 is 240 days from that date. The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,10 designates February 21, 2024 as the date by which the Commission shall either approve or 2 17 CFR 240.19b–4. U.S.C. 78s(b)(3)(A). A proposed rule change may take effect upon filing with the Commission if it is designated by the exchange as ‘‘establishing or changing a due, fee, or other charge imposed by the self-regulatory organization on any person, whether or not the person is a member of the self-regulatory organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii). 4 See Securities Exchange Act Release No. 97767 (June 20, 2023), 88 FR 41442 (‘‘Notice’’). 5 15 U.S.C. 78s(b)(3)(C). 6 15 U.S.C. 78s(b)(2)(B). 7 See Securities Exchange Act Release No. 98051, 88 FR 53937 (August 9, 2023) (‘‘Order Instituting Proceedings’’). 8 15 U.S.C. 78s(b)(2). 9 See Notice, supra note 4. 10 15 U.S.C. 78s(b)(2). 3 15 PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 89485 disapprove the proposed rule change (File No. SR–EMERALD–2023–13). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Christina Z. Milnor, Assistant Secretary. [FR Doc. 2023–28452 Filed 12–26–23; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99208; File No. SR–NSCC– 2023–013] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify Addendum A (Fee Structure) December 20, 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 December 15, 2023, National Securities Clearing Corporation (‘‘NSCC’’) 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 clearing agency. NSCC filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(2) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Clearing Agency’s Statement of the Terms of Substance of the Proposed Rule Change NSCC is filing the proposed rule change to modify Addendum A (Fee Structure) (‘‘Addendum A’’) of NSCC’s Rules & Procedures (‘‘Rules’’) to increase its Clearing Fund Maintenance Fee, as described below.5 II. Clearing Agency’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the clearing agency included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the 11 17 CFR 200.30–3(a)(57). 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)(2). 5 Capitalized terms used herein and not otherwise defined shall have the meaning assigned to such terms in the Rules, available at www.dtcc.com/∼/ media/Files/Downloads/legal/rules/nscc_rules.pdf. 1 15 E:\FR\FM\27DEN1.SGM 27DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 247 (Wednesday, December 27, 2023)]
[Notices]
[Pages 89484-89485]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-28454]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99210; File No. SR-MIAX-2023-23]


Self-Regulatory Organizations; Miami International Securities 
Exchange, LLC; Notice of Designation of Longer Period for Commission 
Action on Proceedings To Determine Whether To Approve or Disapprove 
Proposed Rule Change To Increase Fees for the ToM Market Data Product 
and Establish Fees for the cToM Market Data Product

December 20, 2023.
    On June 7, 2023, Miami International Securities Exchange, LLC 
(``MIAX'' or the ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission''), pursuant to section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change (File Number SR-MIAX-2023-23) to 
increase fees for the MIAX Top of Market (``ToM'') market data product 
and establish fees for the MIAX Complex Top of Market (``cToM'') market 
data product. The proposed rule change was immediately effective upon 
filing with the Commission pursuant to section 19(b)(3)(A) of the 
Act.\3\ The proposed rule change was published for comment in the 
Federal Register on June 26, 2023.\4\ On August 3, 2023, the Commission 
issued an order temporarily suspending the proposed rule change 
pursuant to section 19(b)(3)(C) of the Act \5\ and simultaneously 
instituting proceedings under section 19(b)(2)(B) of the Act \6\ to 
determine whether to approve or disapprove the proposed rule change.\7\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take 
effect upon filing with the Commission if it is designated by the 
exchange as ``establishing or changing a due, fee, or other charge 
imposed by the self-regulatory organization on any person, whether 
or not the person is a member of the self-regulatory organization.'' 
15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ See Securities Exchange Act Release No. 97768 (June 20, 
2023), 88 FR 41423 (``Notice'').
    \5\ 15 U.S.C. 78s(b)(3)(C).
    \6\ 15 U.S.C. 78s(b)(2)(B).
    \7\ See Securities Exchange Act Release No. 98050, 88 FR 53941 
(August 9, 2023) (``Order Instituting Proceedings'').

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[[Page 89485]]

    Section 19(b)(2) of the Act \8\ provides that, after initiating 
proceedings, the Commission shall issue an order approving or 
disapproving the proposed rule change not later than 180 days after the 
date of publication of notice of filing of the proposed rule change. 
The Commission may extend the period for issuing an order approving or 
disapproving the proposed rule change, however, by not more than 60 
days if the Commission determines that a longer period is appropriate 
and publishes the reasons for such determination. The proposed rule 
change was published for notice and comment in the Federal Register on 
June 26, 2023.\9\ December 23, 2023 is 180 days from that date, and 
February 21, 2024 is 240 days from that date.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Notice, supra note 4.
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to issue an order approving or disapproving the proposed 
rule change so that it has sufficient time to consider the proposed 
rule change. Accordingly, the Commission, pursuant to section 19(b)(2) 
of the Act,\10\ designates February 21, 2024 as the date by which the 
Commission shall either approve or disapprove the proposed rule change 
(File No. SR-MIAX-2023-23).
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(57).
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Christina Z. Milnor,
Assistant Secretary.
[FR Doc. 2023-28454 Filed 12-26-23; 8:45 am]
BILLING CODE 8011-01-P

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