Deregistration Under the Investment Company Act of 1940, 49927 [C1-2024-12360]
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Federal Register / Vol. 89, No. 114 / Wednesday, June 12, 2024 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–12792 Filed 6–11–24; 8:45 am]
BILLING CODE 8011–01–P
[Investment Company Act Release No.
35210A]
Deregistration Under the Investment
Company Act of 1940
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
May 31, 2024.
Correction
In notice document 2024–12360,
beginning on pages 48453–48458, in the
issue of Thursday, June 6, 2024, make
the following corrections:
1. On page 48457, in the first column,
in the 20th and 21st lines, under the
heading ‘‘Stone Ridge Longevity Risk
Premium Fixed Income Trust 78F’’
‘‘811–23549’’ is corrected to read: ‘‘811–
23551’’.
2. On the same page, in the same
column, in the 38th and 39th lines
under the heading ‘‘Stone Ridge
Longevity Risk Premium Fixed Income
Trust 78M’’ ‘‘811–23551’’ is corrected to
read: ‘‘811–23549’’.
[FR Doc. C1–2024–12360 Filed 6–11–24; 8:45 am]
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
The Exchange proposes to amend
Rule 7.19 to make additional pre-trade
risk controls available to Entering Firms.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–100281; File No. SR–NYSE–
2024–32]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend Rule
7.19
June 6, 2024.
ddrumheller on DSK120RN23PROD with NOTICES1
In its filing with the Commission, the
self-regulatory organization 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 those 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 parts of such
statements.
1. Purpose
BILLING CODE 0099–10–P
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 May 31,
2024, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘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
11 17
CFR 200.30–3(a)(57).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
17:43 Jun 11, 2024
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.19 to make additional pre-trade
risk controls available to Entering Firms.
The proposed rule change is available
on the Exchange’s website at
www.nyse.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
SECURITIES AND EXCHANGE
COMMISSION
VerDate Sep<11>2014
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
Jkt 262001
Background and Proposal
In 2020, in order to assist Member
organizations’ efforts to manage their
risk, the Exchange amended its rules to
add Rule 7.19 (Pre-Trade Risk
Controls),4 which established a set of
optional pre-trade risk controls by
which Entering Firms and their
designated Clearing Firms 5 could set
credit limits and other pre-trade risk
controls for an Entering Firm’s trading
on the Exchange and authorize the
Exchange to take action if those credit
limits or other pre-trade risk controls are
exceeded.
The Exchange has recently received
several requests from market
4 See Securities Exchange Act Release No. 88776
(April 29, 2020), 85 FR 26768 (May 5, 2020) (SR–
NYSE–2020–17). Later, in 2023, the Exchange
amended its rules to make additional pre-trade risk
controls available to Entering Firms (the ‘‘2023 Risk
Controls’’). See Securities Exchange Act Release No.
97101 (March 1, 2023), 88 FR 14213 (March 7,
2023) (SR–NYSE–2023–14).
5 The terms ‘‘Entering Firm’’ and ‘‘Clearing Firm’’
are defined in Rule 7.19.
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49927
participants to create an additional risk
control to restrict the overall rate of
orders. The Exchange notes that several
other exchanges—including the Cboe
equities exchanges, MEMX, and the
MIAX Pearl equities exchange (‘‘MIAX
Pearl’’) 6—currently offer risk controls
substantially similar to the one
proposed here. As such, market
participants are already familiar with
these risk checks, such that the ones
proposed by the Exchange in this filing
are not novel.
In light of these requests, the
Exchange proposes to amend Rule
7.19(b)(2) to add a new subparagraph
(G), which would provide that the
Single Order Risk Controls available to
Entering Firms would include ‘‘controls
to restrict the overall rate of orders.’’
As with the Exchange’s existing risk
controls, use of the pre-trade risk
controls proposed herein would be
optional. The Exchange proposes no
other changes to Rule 7.19 or its
Commentary.
Continuing Obligations of Member
Organizations Under Rule 15c3–5
The proposed Pre-Trade Risk Controls
described here are meant to supplement,
and not replace, the member
organizations’ own internal systems,
monitoring, and procedures related to
risk management. The Exchange does
not guarantee that these controls will be
sufficiently comprehensive to meet all
of a member organization’s needs, the
controls are not designed to be the sole
means of risk management, and using
these controls will not necessarily meet
a member organization’s obligations
required by Exchange or federal rules
(including, without limitation, the Rule
15c3–5 under the Act 7 (‘‘Rule 15c3–
5’’)). Use of the Exchange’s Pre-Trade
Risk Controls will not automatically
constitute compliance with Exchange or
federal rules and responsibility for
compliance with all Exchange and SEC
rules remains with the member
organization.8
6 See, e.g., Cboe BZX Equities Rule 11.13
Interpretations and Policies .01 paragraph (f); Cboe
BYX Equities Rule 11.13 Interpretations and
Policies .01 paragraph (f); Cboe EDGA Equities Rule
11.10 Interpretations and Policies .01 paragraph (f);
Cboe EDGX Equities Rule 11.10 Interpretations and
Policies .01 paragraph (f); MEMX Rule 11.10
Interpretations and Policies .01 paragraph (f); and
MIAX Pearl Equities Rule 2618(a)(1)(H).
7 See 17 CFR 240.15c3–5.
8 See also Commentary .01 to Rule 7.19, which
provides that ‘‘[t]he pre-trade risk controls
described in this Rule are meant to supplement, and
not replace, the member organization’s own internal
systems, monitoring and procedures related to risk
management and are not designed for compliance
with Rule 15c3–5 under the Exchange Act.
Responsibility for compliance with all Exchange
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[Federal Register Volume 89, Number 114 (Wednesday, June 12, 2024)]
[Notices]
[Page 49927]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: C1-2024-12360]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 35210A]
Deregistration Under the Investment Company Act of 1940
May 31, 2024.
Correction
In notice document 2024-12360, beginning on pages 48453-48458, in
the issue of Thursday, June 6, 2024, make the following corrections:
1. On page 48457, in the first column, in the 20th and 21st lines,
under the heading ``Stone Ridge Longevity Risk Premium Fixed Income
Trust 78F'' ``811-23549'' is corrected to read: ``811-23551''.
2. On the same page, in the same column, in the 38th and 39th lines
under the heading ``Stone Ridge Longevity Risk Premium Fixed Income
Trust 78M'' ``811-23551'' is corrected to read: ``811-23549''.
[FR Doc. C1-2024-12360 Filed 6-11-24; 8:45 am]
BILLING CODE 0099-10-P
