Options Price Reporting Authority; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Amendment To Modify Section 5.2(c)(iii) of the OPRA Plan Relating to Dissemination of Exchange Proprietary Data Information, 31785-31786 [2024-08804]
Download as PDF
Federal Register / Vol. 89, No. 81 / Thursday, April 25, 2024 / Notices
he Exchange can immediately suspend
and delist a company under Section
802.01D where the applicable paragraph
of the rule so provides, as is the case
with the proposed new provision with
respect to changes in business
operations.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange notes that there are several
listing venues and that any company
that the Exchange deemed unsuitable
for continued listing under the proposed
rule could apply for listing on one or
more other exchanges.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period
up to 90 days (i) as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or (ii) as to which
the self-regulatory organization
consents, the Commission will:
(A) by order approve or disapprove
the proposed rule change, as modified
by Amendment No. 1, or
(B) institute proceedings to determine
whether the proposed rule change as
modified by Amendment No. 1, should
be disapproved.
IV. Solicitation of Comments
lotter on DSK11XQN23PROD with NOTICES1
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as modified by Amendment No.
1, is consistent with the Act. Comments
may be submitted by any of the
following methods:
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–NYSE–2024–21. 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–NYSE–2024–21 and should be
submitted on or before May 16, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–08802 Filed 4–24–24; 8:45 am]
BILLING CODE 8011–01–P
VerDate Sep<11>2014
18:54 Apr 24, 2024
Jkt 262001
9 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00072
Fmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–99994; File No. 4–820]
Options Price Reporting Authority;
Order Instituting Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Amendment
To Modify Section 5.2(c)(iii) of the
OPRA Plan Relating to Dissemination
of Exchange Proprietary Data
Information
April 19, 2024.
I. Introduction
On November 8, 2023, the Cboe BZX
Exchange, Inc. (‘‘BZX Options’’), Cboe
Exchange, Inc. (‘‘Cboe Options’’), Cboe
C2 Exchange, Inc. (‘‘C2 Options’’), and
Cboe EDGX Exchange, Inc. (‘‘EDGX
Options’’) (collectively, the ‘‘Sponsors’’
or ‘‘Cboe’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
a proposed amendment to the Plan for
Reporting of Consolidated Options Last
Sale Reports and Quotation Information
(‘‘OPRA Plan’’). The proposed
amendment was published for comment
in the Federal Register on January 22,
2024.1
This order institutes proceedings,
under Rule 608(b)(2)(i) of Regulation
NMS,2 to determine whether to approve
or disapprove the proposed amendment
or to approve the proposed amendment
with any changes or subject to any
conditions the Commission deems
necessary or appropriate after
considering public comment.
II. Proceedings To Determine Whether
To Approve or Disapprove the
Proposed Amendment
The Commission is instituting
proceedings pursuant to Rule
608(b)(2)(i) of Regulation NMS,3 and
Rules 700 and 701 of the Commission’s
Rules of Practice,4 to determine whether
to approve or disapprove the proposed
amendment or to approve the proposed
amendment with any changes or subject
to any conditions the Commission
deems necessary or appropriate. The
Commission is instituting proceedings
to have sufficient time to consider the
issues raised by proposed amendment,
including comments received.
1 See Options Price Reporting Authority; Notice
of Filing of Proposed Amendment to Modify
Section 5.2(c)(iii) of the OPRA Plan Relating to
Dissemination of Exchange Proprietary Data
Information, Securities Exchange Act Release No.
99345 (Jan. 16, 2024), 89 FR 3963 (Jan. 22, 2024)
(‘‘Notice’’). Comments received in response to the
Notice can be found on the Commission’s website
at https://www.sec.gov/comments/4-820/4-820.htm.
2 17 CFR 242.608(b)(2)(i).
3 Id.
4 17 CFR 201.700; 17 CFR 201.701.
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–
NYSE–2024–21 on the subject line.
31785
Sfmt 4703
E:\FR\FM\25APN1.SGM
25APN1
31786
Federal Register / Vol. 89, No. 81 / Thursday, April 25, 2024 / Notices
lotter on DSK11XQN23PROD with NOTICES1
Institution of proceedings does not
indicate that the Commission has
reached any conclusions with respect to
any of the issues involved. Rather, the
Commission seeks and encourages
interested persons to provide additional
comment on the proposed amendment
to inform the Commission’s analysis.
Rule 608(b)(2) of Regulation NMS
provides that the Commission ‘‘shall
approve a national market system plan
. . ., with such changes or subject to
such conditions as the Commission may
deem necessary or appropriate, if it
finds that such plan . . . is necessary or
appropriate in the public interest, for
the protection of investors and the
maintenance of fair and orderly markets,
to remove impediments to, and perfect
the mechanisms of, a national market
system, or otherwise in furtherance of
the purposes of the Act.’’ 5 Rule
608(b)(2) further provides that the
Commission shall disapprove a national
market system plan or proposed
amendment if it does not make such a
finding.6 In this order, pursuant to Rule
608(b)(2)(i) of Regulation NMS,7 the
Commission is providing notice of the
grounds for disapproval under
consideration:
• Whether, consistent with Rule 608
of Regulation NMS, the Sponsors have
demonstrated that the proposed
amendment is necessary or appropriate
in the public interest, for the protection
of investors and the maintenance of fair
and orderly markets, to remove
impediments to, and perfect the
mechanisms of, a national market
system, or otherwise in furtherance of
the purposes of the Exchange Act.8
Under the Commission’s Rules of
Practice, the ‘‘burden to demonstrate
that a NMS plan filing is consistent with
the Exchange Act and the rules and
regulations issued thereunder. . . is on
the plan participants that filed the NMS
plan filing.’’ 9 The description of the
NMS plan filing, its purpose and
operation, its effect, and a legal analysis
of its consistency with applicable
requirements must all be sufficiently
detailed and specific to support an
affirmative Commission finding.10 Any
failure by the Sponsors to provide such
detail and specificity may result in the
Commission not having a sufficient
basis to make an affirmative finding that
the NMS plan filing is consistent with
5 17 CFR 242.608(b)(2) (referring to the Securities
Exchange Act of 1934, 15 U.S.C. 78a et seq., (‘‘Act’’
or ‘‘Exchange Act’’)).
6 See id.
7 See 17 CFR 242.608(b)(2)(i).
8 See 17 CFR 242.608(b)(2).
9 17 CFR 201.701(b)(3)(ii).
10 See id.
VerDate Sep<11>2014
18:54 Apr 24, 2024
Jkt 262001
the Exchange Act and the applicable
rules and regulations thereunder.11
III. Commission’s Solicitation of
Comments
The Commission requests that
interested persons provide written
submissions of their views, data, and
arguments with respect to the issues
identified above, as well as any other
concerns they may have with the
proposed amendment. In particular, the
Commission asks that commenters
address the sufficiency and merit of the
Sponsors’ statements in support of the
proposed amendment, in addition to
any other comments they may wish to
submit about the proposed amendment.
Although there do not appear to be
any issues relevant to approval or
disapproval that would be facilitated by
an oral presentation of views, data, and
arguments, the Commission will
consider, pursuant to Rule 608(b)(2)(i)
of Regulation NMS,12 any request for an
opportunity to make an oral
presentation.13
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 4–
820 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 4–820. 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 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
11 See
id.
CFR 242.608(b)(2)(i).
13 Rule 700(c)(ii) of the Commission’s Rules of
Practice provides that ‘‘[t]he Commission, in its sole
discretion, may determine whether any issues
relevant to approval or disapproval would be
facilitated by the opportunity for an oral
presentation of views.’’ 17 CFR 201.700(c)(ii).
12 17
PO 00000
Frm 00073
Fmt 4703
Sfmt 4703
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 Sponsors’ principal
offices. 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
4–820 and should be submitted on or
before May 16, 2024. Rebuttal comments
should be submitted by May 30, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–08804 Filed 4–24–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–99995; File No. SR–
NYSEAMER–2024–26]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Change To Modify Rule 980NYP
April 19, 2024
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on April 12,
2024, NYSE American LLC (‘‘NYSE
American’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the self-regulatory
organization. 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 modify
Rule 980NYP (Electronic Complex
Order Trading) to specify that a
14 17
CFR 200.30–3(a)(85).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
E:\FR\FM\25APN1.SGM
25APN1
Agencies
[Federal Register Volume 89, Number 81 (Thursday, April 25, 2024)]
[Notices]
[Pages 31785-31786]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-08804]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-99994; File No. 4-820]
Options Price Reporting Authority; Order Instituting Proceedings
To Determine Whether To Approve or Disapprove a Proposed Amendment To
Modify Section 5.2(c)(iii) of the OPRA Plan Relating to Dissemination
of Exchange Proprietary Data Information
April 19, 2024.
I. Introduction
On November 8, 2023, the Cboe BZX Exchange, Inc. (``BZX Options''),
Cboe Exchange, Inc. (``Cboe Options''), Cboe C2 Exchange, Inc. (``C2
Options''), and Cboe EDGX Exchange, Inc. (``EDGX Options'')
(collectively, the ``Sponsors'' or ``Cboe'') filed with the Securities
and Exchange Commission (``Commission'') a proposed amendment to the
Plan for Reporting of Consolidated Options Last Sale Reports and
Quotation Information (``OPRA Plan''). The proposed amendment was
published for comment in the Federal Register on January 22, 2024.\1\
---------------------------------------------------------------------------
\1\ See Options Price Reporting Authority; Notice of Filing of
Proposed Amendment to Modify Section 5.2(c)(iii) of the OPRA Plan
Relating to Dissemination of Exchange Proprietary Data Information,
Securities Exchange Act Release No. 99345 (Jan. 16, 2024), 89 FR
3963 (Jan. 22, 2024) (``Notice''). Comments received in response to
the Notice can be found on the Commission's website at https://www.sec.gov/comments/4-820/4-820.htm.
---------------------------------------------------------------------------
This order institutes proceedings, under Rule 608(b)(2)(i) of
Regulation NMS,\2\ to determine whether to approve or disapprove the
proposed amendment or to approve the proposed amendment with any
changes or subject to any conditions the Commission deems necessary or
appropriate after considering public comment.
---------------------------------------------------------------------------
\2\ 17 CFR 242.608(b)(2)(i).
---------------------------------------------------------------------------
II. Proceedings To Determine Whether To Approve or Disapprove the
Proposed Amendment
The Commission is instituting proceedings pursuant to Rule
608(b)(2)(i) of Regulation NMS,\3\ and Rules 700 and 701 of the
Commission's Rules of Practice,\4\ to determine whether to approve or
disapprove the proposed amendment or to approve the proposed amendment
with any changes or subject to any conditions the Commission deems
necessary or appropriate. The Commission is instituting proceedings to
have sufficient time to consider the issues raised by proposed
amendment, including comments received.
[[Page 31786]]
Institution of proceedings does not indicate that the Commission has
reached any conclusions with respect to any of the issues involved.
Rather, the Commission seeks and encourages interested persons to
provide additional comment on the proposed amendment to inform the
Commission's analysis.
---------------------------------------------------------------------------
\3\ Id.
\4\ 17 CFR 201.700; 17 CFR 201.701.
---------------------------------------------------------------------------
Rule 608(b)(2) of Regulation NMS provides that the Commission
``shall approve a national market system plan . . ., with such changes
or subject to such conditions as the Commission may deem necessary or
appropriate, if it finds that such plan . . . is necessary or
appropriate in the public interest, for the protection of investors and
the maintenance of fair and orderly markets, to remove impediments to,
and perfect the mechanisms of, a national market system, or otherwise
in furtherance of the purposes of the Act.'' \5\ Rule 608(b)(2) further
provides that the Commission shall disapprove a national market system
plan or proposed amendment if it does not make such a finding.\6\ In
this order, pursuant to Rule 608(b)(2)(i) of Regulation NMS,\7\ the
Commission is providing notice of the grounds for disapproval under
consideration:
---------------------------------------------------------------------------
\5\ 17 CFR 242.608(b)(2) (referring to the Securities Exchange
Act of 1934, 15 U.S.C. 78a et seq., (``Act'' or ``Exchange Act'')).
\6\ See id.
\7\ See 17 CFR 242.608(b)(2)(i).
---------------------------------------------------------------------------
Whether, consistent with Rule 608 of Regulation NMS, the
Sponsors have demonstrated that the proposed amendment is necessary or
appropriate in the public interest, for the protection of investors and
the maintenance of fair and orderly markets, to remove impediments to,
and perfect the mechanisms of, a national market system, or otherwise
in furtherance of the purposes of the Exchange Act.\8\
---------------------------------------------------------------------------
\8\ See 17 CFR 242.608(b)(2).
---------------------------------------------------------------------------
Under the Commission's Rules of Practice, the ``burden to
demonstrate that a NMS plan filing is consistent with the Exchange Act
and the rules and regulations issued thereunder. . . is on the plan
participants that filed the NMS plan filing.'' \9\ The description of
the NMS plan filing, its purpose and operation, its effect, and a legal
analysis of its consistency with applicable requirements must all be
sufficiently detailed and specific to support an affirmative Commission
finding.\10\ Any failure by the Sponsors to provide such detail and
specificity may result in the Commission not having a sufficient basis
to make an affirmative finding that the NMS plan filing is consistent
with the Exchange Act and the applicable rules and regulations
thereunder.\11\
---------------------------------------------------------------------------
\9\ 17 CFR 201.701(b)(3)(ii).
\10\ See id.
\11\ See id.
---------------------------------------------------------------------------
III. Commission's Solicitation of Comments
The Commission requests that interested persons provide written
submissions of their views, data, and arguments with respect to the
issues identified above, as well as any other concerns they may have
with the proposed amendment. In particular, the Commission asks that
commenters address the sufficiency and merit of the Sponsors'
statements in support of the proposed amendment, in addition to any
other comments they may wish to submit about the proposed amendment.
Although there do not appear to be any issues relevant to approval
or disapproval that would be facilitated by an oral presentation of
views, data, and arguments, the Commission will consider, pursuant to
Rule 608(b)(2)(i) of Regulation NMS,\12\ any request for an opportunity
to make an oral presentation.\13\
---------------------------------------------------------------------------
\12\ 17 CFR 242.608(b)(2)(i).
\13\ Rule 700(c)(ii) of the Commission's Rules of Practice
provides that ``[t]he Commission, in its sole discretion, may
determine whether any issues relevant to approval or disapproval
would be facilitated by the opportunity for an oral presentation of
views.'' 17 CFR 201.700(c)(ii).
---------------------------------------------------------------------------
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 4-820 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 4-820. 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 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 Sponsors' principal offices. 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 4-820 and should be submitted on or before May 16,
2024. Rebuttal comments should be submitted by May 30, 2024.
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(85).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-08804 Filed 4-24-24; 8:45 am]
BILLING CODE 8011-01-P