Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Amend MSRB Rule G-14 To Shorten the Timeframe for Reporting Trades in Municipal Securities to the MSRB, 59951-59952 [2024-16221]
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Federal Register / Vol. 89, No. 142 / Wednesday, July 24, 2024 / Notices
cabinets and power, as do other
exchanges.
Nothing in the Proposal burdens
intra-market competition because the
Exchange’s colocation services,
including those proposed herein, are
available to any customer and customers
that wish to order cabinets and power
can do so on a non-discriminatory basis.
Use of any colocation service is
completely voluntary, and each market
participant is able to determine whether
to use colocation services based on the
requirements of its business operations.
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 15 and
subparagraph (f)(6) of Rule 19b–4
thereunder.16
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
ddrumheller on DSK120RN23PROD with NOTICES1
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:
15 15
U.S.C. 78s(b)(3)(A)(iii).
16 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.
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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–
BX–2024–024 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–BX–2024–024. 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–BX–2024–024 and should be
submitted on or before August 14, 2024.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024–16223 Filed 7–23–24; 8:45 am]
BILLING CODE 8011–01–P
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17 17
CFR 200.30–3(a)(12).
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59951
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–100557; File No. SR–
MSRB–2024–01]
Self-Regulatory Organizations;
Municipal Securities Rulemaking
Board; Notice of Designation of Longer
Period for Commission Action on
Proceedings To Determine Whether To
Approve or Disapprove a Proposed
Rule Change To Amend MSRB Rule G–
14 To Shorten the Timeframe for
Reporting Trades in Municipal
Securities to the MSRB
July 18, 2024.
On January 12, 2024, the Municipal
Securities Rulemaking Board (‘‘MSRB’’)
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 (1) amend MSRB Rule G–14
(‘‘Rule G–14’’), on reports of sales or
purchases, to (i) shorten the amount of
time within which brokers, dealers, and
municipal securities dealers
(collectively, ‘‘dealers,’’ and each
individually, a ‘‘dealer’’) must report
most transactions to the MSRB; and (ii)
require dealers to report certain
transactions with a new trade indicator,
and make certain clarifying
amendments, and (2) make conforming
amendments to MSRB Rule G–12, on
uniform practice (‘‘Rule G–12’’), and the
MSRB’s Real-Time Transaction
Reporting System (‘‘RTRS’’) Information
Facility (‘‘IF–1’’) to reflect the shortened
reporting timeframe (collectively, the
‘‘proposed rule change’’).3 The proposed
rule change was published for comment
in the Federal Register on January 26,
2024.4 On April 22, 2024, the
Commission instituted proceedings
under Section 19(b)(2)(B) of the Act 5 to
determine whether to approve or
disapprove the proposed rule change.6
Section 19(b)(2) of the Act 7 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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 34–99402
(Jan. 19, 2024), 89 FR 5384 (Jan. 26, 2024)
(‘‘Notice’’).
4 Notice, 89 FR at 5384.
5 15 U.S.C. 78s(b)(2)(B).
6 See Securities Exchange Act Release No. 100003
(Apr. 22, 2024), 89 FR 32485 (Apr. 26, 2024).
7 15 U.S.C. 78s(b)(2).
2 17
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59952
Federal Register / Vol. 89, No. 142 / Wednesday, July 24, 2024 / Notices
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 comment in
the Federal Register on January 26,
2024.8 The 180th day after publication
of the notice for this proposed rule
change is July 24, 2024. The
Commission is extending the time
period for approving or disapproving
the proposed rule change for an
additional 60 days.
The Commission finds that it is
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
and the issues raised therein.
Accordingly, the Commission, pursuant
to Section 19(b)(2) of the Act,9
designates September 20, 2024, as the
date by which the Commission shall
either approve or disapprove the
proposed rule change (File No. SR–
MSRB–2024–01).
For the Commission, pursuant to delegated
authority.10
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024–16221 Filed 7–23–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–100559; File No. SR–Phlx–
2024–32]
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Expand Its CoLocation Services
ddrumheller on DSK120RN23PROD with NOTICES1
July 18, 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 July 5,
2024, Nasdaq PHLX LLC (‘‘Phlx’’ 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
8 See
supra note 3 and accompanying text.
U.S.C. 78s(b)(2).
10 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
9 15
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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 expand its
co-location services.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/phlx/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
The Exchange proposes to expand its
co-location services by offering new
cabinet, power, and power distribution
unit options in the Exchange’s
expanded data center.
The Exchange’s current data center
(‘‘NY11’’) in Carteret, NJ is undergoing
an expansion (‘‘NY11–4’’) in response to
demand for power and cabinets. NY11–
4 is not a new or distinct co-location
facility. Instead, NY11–4 is simply an
expansion of the existing NY11 data
center,3 and the Exchange intends to
operate it generally in the same manner
as existing aspects of NY11.4 Client
3 NY11–4 is not a standalone facility. Equinix
considers the site as NY11 with three expansions:
NY11–2, NY11–3, and NY11–4.
4 One aspect of the data center that will be treated
differently in NY11–4 as compared to NY11 at its
outset is telecommunications access and inter-client
connectivity. In NY11–4, connections between
colocated client cabinets and the carrier cage will
be of equal length. Inter-client connectivity will
also be equalized in NY11–4. The Exchange
believes that equalizing telecommunications access
and inter-client connectivity in NY11–4 will
provide a fair solution and avoid market disruption
by avoiding both a race for real estate adjacent to
NY11–4 and for particular space in NY11–4. The
Exchange believes that these actions would
facilitate a fair and orderly market and protect
investors and the public interest, consistent with its
obligations under the Act.
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connections to the matching engine will
be equal across the board, within and
among NY11 and NY11–4. In 2010, the
Exchange undertook a similar expansion
to its data center, where connectivity to
the Exchange remained equalized, as is
the case with the NY11–4 expansion.
The Exchange submits this filing to
propose offering new services in NY11–
4, as described below, and to the extent
the Exchange offers additional new
services, whether in the existing NY11
data halls or in the new NY11–4 data
hall, the Exchange will submit
additional filings with the Commission.
NY11–4 Expanded Cabinet Optionality:
Ultra High Density Cabinet
Currently, co-location customers have
the option of obtaining cabinets of
various sizes and power densities. Colocation customers may obtain a Half
Cabinet,5 a Low Density Cabinet with
power density less than or equal to 2.88
kilowatts (‘‘kW’’), a Medium Density
Cabinet with power density greater than
2.88 kW and less than or equal to 5 kW,
a Medium-High Density Cabinet with
power density greater than 5 kW and
less than or equal to 7 kW, a High
Density Cabinet with power density
greater than 7 kW and less than 10 kW,
and a Super High Density Cabinet with
power density greater than 10 kW and
less than or equal to 17.3 kW.
The Exchange proposes to introduce a
new cabinet choice in NY11–4, an
‘‘Ultra High Density Cabinet,’’ with
power density greater than 10 kW and
less than or equal to 15 kW. Based on
demand, the Exchange wishes to
introduce the Ultra High Density
Cabinet as an option for customers
between the High Density Cabinet and
the Super High Density Cabinet. The
Ultra High Density Cabinet option
would only be offered in NY11–4
because of the power configuration
necessary for such cabinets, which is
not possible or available in other
portions of the data center due to
different power distribution. Because of
the addition of the Ultra High Density
Cabinet option in NY11–4, the Super
High Density Cabinet in NY11–4 would
have power density greater than 15 kW
and less than or equal to 17.3 kW.
In addition to the Ultra High Density
Cabinet, the Exchange would offer the
other, existing cabinet options in NY11–
4, with the exception of the Low Density
Cabinet and Half Cabinet due to a lack
of demand for such cabinets. The
cabinets in NY11–4 will include certain
features, including but not limited to:
5 Half cabinets are not available to new
subscribers. See General 8, Section 1(a).
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]]>Agencies
[Federal Register Volume 89, Number 142 (Wednesday, July 24, 2024)]
[Notices]
[Pages 59951-59952]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-16221]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100557; File No. SR-MSRB-2024-01]
Self-Regulatory Organizations; Municipal Securities Rulemaking
Board; Notice of Designation of Longer Period for Commission Action on
Proceedings To Determine Whether To Approve or Disapprove a Proposed
Rule Change To Amend MSRB Rule G-14 To Shorten the Timeframe for
Reporting Trades in Municipal Securities to the MSRB
July 18, 2024.
On January 12, 2024, the Municipal Securities Rulemaking Board
(``MSRB'') 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 (1) amend MSRB Rule G-14 (``Rule G-14''), on
reports of sales or purchases, to (i) shorten the amount of time within
which brokers, dealers, and municipal securities dealers (collectively,
``dealers,'' and each individually, a ``dealer'') must report most
transactions to the MSRB; and (ii) require dealers to report certain
transactions with a new trade indicator, and make certain clarifying
amendments, and (2) make conforming amendments to MSRB Rule G-12, on
uniform practice (``Rule G-12''), and the MSRB's Real-Time Transaction
Reporting System (``RTRS'') Information Facility (``IF-1'') to reflect
the shortened reporting timeframe (collectively, the ``proposed rule
change'').\3\ The proposed rule change was published for comment in the
Federal Register on January 26, 2024.\4\ On April 22, 2024, the
Commission instituted proceedings under Section 19(b)(2)(B) of the Act
\5\ to determine whether to approve or disapprove the proposed rule
change.\6\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Securities Exchange Act Release No. 34-99402 (Jan. 19,
2024), 89 FR 5384 (Jan. 26, 2024) (``Notice'').
\4\ Notice, 89 FR at 5384.
\5\ 15 U.S.C. 78s(b)(2)(B).
\6\ See Securities Exchange Act Release No. 100003 (Apr. 22,
2024), 89 FR 32485 (Apr. 26, 2024).
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \7\ 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
[[Page 59952]]
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 comment in the Federal Register on January 26,
2024.\8\ The 180th day after publication of the notice for this
proposed rule change is July 24, 2024. The Commission is extending the
time period for approving or disapproving the proposed rule change for
an additional 60 days.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(2).
\8\ See supra note 3 and accompanying text.
---------------------------------------------------------------------------
The Commission finds that it is 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 and the issues raised therein. Accordingly, the
Commission, pursuant to Section 19(b)(2) of the Act,\9\ designates
September 20, 2024, as the date by which the Commission shall either
approve or disapprove the proposed rule change (File No. SR-MSRB-2024-
01).
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2).
For the Commission, pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2024-16221 Filed 7-23-24; 8:45 am]
BILLING CODE 8011-01-P
