Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the iShares Ethereum Trust Under Nasdaq Rule 5711(d), Commodity-Based Trust Shares, 5970-5971 [2024-01749]

Download as PDF 5970 Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices Common Member default, and therefore, potentially increase the promotion of market stability. Regarding the Phase 2 changes, OCC believes that the continued ability in a T+1 environment to make a Guaranty Substitution Payment to NSCC would allow OCC to better manage liquidity and credit risks related to the settlement link with NSCC by ensuring that the relevant securities settlement obligations would be accepted by NSCC for clearance and settlement. khammond on DSKJM1Z7X2PROD with NOTICES III. Date of Effectiveness of the Advance Notice and Timing for Commission Action The proposed change may be implemented if the Commission does not object to the proposed change within 60 days of the later of (i) the date that the proposed change was filed with the Commission or (ii) the date that any additional information requested by the Commission is received. The clearing agency shall not implement the proposed change if the Commission has any objection to the proposed change. The Commission may extend the period for review by an additional 60 days if the proposed change raises novel or complex issues, subject to the Commission or the Board of Governors of the Federal Reserve System providing the clearing agency with prompt written notice of the extension. A proposed change may be implemented in less than 60 days from the date the advance notice is filed, or the date further information requested by the Commission is received, if the Commission notifies the clearing agency in writing that it does not object to the proposed change and authorizes the clearing agency to implement the proposed change on an earlier date, subject to any conditions imposed by the Commission. The clearing agency shall post notice on its website of proposed changes that are implemented. The proposal shall not take effect until all regulatory actions required with respect to the proposal are completed. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the advance notice is consistent with the Clearing Supervision 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 VerDate Sep<11>2014 17:23 Jan 29, 2024 Jkt 262001 • Send an email to rule-comments@ sec.gov. Please include file number SR– OCC–2023–801 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. All submissions should refer to file number SR–OCC–2023–801. 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 advance notice that are filed with the Commission, and all written communications relating to the advance notice 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 self-regulatory organization. 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–OCC–2023–801 and should be submitted on or before February 14, 2024. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.99 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–01748 Filed 1–29–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99419; File No. SR– NASDAQ–2023–045] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To List and Trade Shares of the iShares Ethereum Trust Under Nasdaq Rule 5711(d), CommodityBased Trust Shares January 24, 2024. On November 21, 2023, The Nasdaq Stock Market LLC (‘‘Nasdaq’’ or ‘‘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 to list and trade shares of the iShares Ethereum Trust under Nasdaq Rule 5711(d), Commodity-Based Trust Shares. The proposed rule change was published for comment in the Federal Register on December 11, 2023.3 The Commission has received no comments on the proposal. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is January 25, 2024. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates March 10, 2024, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 99081 (Dec. 5, 2023), 88 FR 85945. 4 15 U.S.C. 78s(b)(2). 5 15 U.S.C. 78s(b)(2). 2 17 99 17 PO 00000 CFR 200.30–3(a)(91). Frm 00116 Fmt 4703 Sfmt 4703 E:\FR\FM\30JAN1.SGM 30JAN1 Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices disapprove, the proposed rule change (File No. SR–NASDAQ–2023–045). comments on the proposed rule change from interested persons. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Sherry R. Haywood, Assistant Secretary. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change [FR Doc. 2024–01749 Filed 1–29–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meetings FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: Publishing in the FR of 1/29/24. PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Wednesday, January 31, 2024, at 10:00 a.m. The Open Meeting scheduled for Wednesday, January 31, 2024, at 10:00 a.m., has been changed to Wednesday, January 31, 2024, at 9:00 a.m. CONTACT PERSON FOR MORE INFORMATION: For further information; please contact Vanessa A. Countryman from the Office of the Secretary at (202) 551–5400. Authority: 5 U.S.C. 552b. CHANGES IN THE MEETING: Dated: January 25, 2024. J. Matthew DeLesDernier, Deputy Secretary. The Exchange proposes to amend the Exchange’s Pricing Schedule at Options 7.3 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 [FR Doc. 2024–01865 Filed 1–26–24; 11:15 am] BILLING CODE 8011–01–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–99424; File No. SR–ISE– 2024–04] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Section 4 khammond on DSKJM1Z7X2PROD with NOTICES January 24, 2024. 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 January 12, 2024, 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 and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit 6 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 17:23 Jan 29, 2024 Jkt 262001 The purpose of the proposed rule change is to amend the Exchange’s Pricing Schedule at Options 7, Section 4, Complex Order Fees and Rebates, to amend note 9 related to the Complex Order Fee for PIM Orders.4 Today, the Exchange assesses a $0.10 per contract Complex Order Fee for PIM Orders to all Non-Priority Customer 5 market participants (Market Makers,6 3 The Exchange initially filed the proposed pricing change on January 2, 2024 (SR–ISE–2024– 01). On January 12, 2024, the Exchange withdrew that filing and submitted this filing. 4 The PIM is a process by which an Electronic Access Member can provide price improvement opportunities for a transaction wherein the Electronic Access Member seeks to facilitate an order it represents as agent, and/or a transaction wherein the Electronic Access Member solicited interest to execute against an order it represents as agent. See Options 3, Section 13. 5 ‘‘Non-Priority Customers’’ include Market Makers, Non-Nasdaq ISE Market Makers (FarMMs), Firm Proprietary/Broker-Dealers, and Professional Customers. See Options 7, Section 1(c). 6 The term ‘‘Market Makers’’ refers to ‘‘Competitive Market Makers’’ and ‘‘Primary Market Makers’’ collectively. See Options 1, Section 1(a)(21). PO 00000 Frm 00117 Fmt 4703 Sfmt 4703 5971 Firm Proprietary 7/Broker Dealers,8 and Professional Customers,9) in Select 10 and Non-Select 11 Symbols. Today, Priority Customers 12 are not assessed Complex Order Fee for PIM Orders in Select and Non-Select Symbols. Today, note 9 to Options 7, Section 4, reduces the $0.10 per contract fee to $0.05 per contract for all Non-Priority Customer orders provided Members execute an average daily volume (‘‘ADV’’) of 7,500 or more contracts in the PIM in a given month. Further, the $0.10 per contract Complex Order Fee for PIM Orders is reduced to $0.00 per contract for all Member orders provided the Members execute an ADV of 12,500 or more contracts in the Complex PIM. The Exchange applies the discounted fees retroactively to all eligible Complex PIM volume in that month once the threshold has been reached. Additionally, Complex Order Fees for PIM Orders (including Complex PIM Orders) apply to the originating and contra order.13 Proposal At this time, the Exchange proposes to amend note 9 of Options 7, Section 4 to revise the second sentence to instead provide that ‘‘Other than for Priority Customer orders, Members that execute an ADV of 12,500 or more contracts in a given month in the Complex PIM will be charged a $0.02 per contract fee.’’ The Exchange will continue to reduce the Complex Order Fees for PIM Orders from $0.10 to $0.05 per contract for all Non-Priority Customers that execute an ADV of 7,500 or more contracts in the Complex PIM in a given month. At this time, the Exchange would decrease the reduction for Complex Order Fees for Complex PIM Orders for Non-Priority 7 A ‘‘Firm Proprietary’’ order is an order submitted by a member for its own proprietary account. See Options 7, Section 1(c). 8 A ‘‘Broker-Dealer’’ order is an order submitted by a member for a broker-dealer account that is not its own proprietary account. See Options 7, Section 1(c). 9 A ‘‘Professional Customer’’ is a person or entity that is not a broker/dealer and is not a Priority Customer. See Options 7, Section 1(c). 10 ‘‘Select Symbols’’ are options overlying all symbols listed on the Nasdaq ISE that are in the Penny Interval Program. See Options 7, Section 1(c). 11 ‘‘Non-Select Symbols’’ are options overlying all symbols excluding Select Symbols. See Options 7, Section 1(c). 12 A ‘‘Priority Customer’’ is a person or entity that is not a broker/dealer in securities, and does not place more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s), as defined in Nasdaq ISE Options 1, Section 1(a)(37). Unless otherwise noted, when used in this Pricing Schedule the term ‘‘Priority Customer’’ includes ‘‘Retail’’ as defined below. See Options 7, Section 1(c). 13 See note 11 of Options 7, Section 4. E:\FR\FM\30JAN1.SGM 30JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 89, Number 20 (Tuesday, January 30, 2024)]
[Notices]
[Pages 5970-5971]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-01749]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-99419; File No. SR-NASDAQ-2023-045]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Designation of a Longer Period for Commission Action on a 
Proposed Rule Change To List and Trade Shares of the iShares Ethereum 
Trust Under Nasdaq Rule 5711(d), Commodity-Based Trust Shares

January 24, 2024.
    On November 21, 2023, The Nasdaq Stock Market LLC (``Nasdaq'' or 
``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 to list and trade shares of the iShares Ethereum 
Trust under Nasdaq Rule 5711(d), Commodity-Based Trust Shares. The 
proposed rule change was published for comment in the Federal Register 
on December 11, 2023.\3\ The Commission has received no comments on the 
proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 99081 (Dec. 5, 
2023), 88 FR 85945.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the notice for this proposed rule change 
is January 25, 2024. The Commission is extending this 45-day time 
period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider the proposed rule change and the issues 
raised therein. Accordingly, the Commission, pursuant to Section 
19(b)(2) of the Act,\5\ designates March 10, 2024, as the date by which 
the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to

[[Page 5971]]

disapprove, the proposed rule change (File No. SR-NASDAQ-2023-045).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-01749 Filed 1-29-24; 8:45 am]
BILLING CODE 8011-01-P

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