Elevation Series Trust and TrueMark Investments, LLC, 85270-85271 [2024-24826]
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85270
Federal Register / Vol. 89, No. 207 / Friday, October 25, 2024 / Notices
fees in response, including the adoption
of similar discounts to those fees, the
Exchange believes that the degree to
which fee changes (including discounts
and rebates) in this market may impose
any burden on competition is extremely
limited. As discussed above, the
Exchange’s historical Short Volume
Reports offering is subject to direct
competition from several other options
exchanges that offer similar data
products. Moreover, purchase of
historical Short Volume Reports is
optional. It is designed to help investors
understand underlying market trends to
improve the quality of investment
decisions, but is not necessary to
execute a trade.
The proposed rule changes are
grounded in the Exchange’s efforts to
compete more effectively. In this
competitive environment, potential
purchasers are free to choose which, if
any, similar product to purchase to
satisfy their need for market
information. As a result, the Exchange
believes this proposed rule change
permits fair competition among national
securities exchanges. Further, the
Exchange believes that these changes
will not cause any unnecessary or
inappropriate burden on intermarket
competition, as the proposed incentive
program applies uniformly to any
purchaser of historical Short Volume
Reports.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
ddrumheller on DSK120RN23PROD with NOTICES1
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 28 and paragraph (f) of Rule
19b–4 29 thereunder. 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 will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
28 15
29 17
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
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17:40 Oct 24, 2024
IV. Solicitation of Comments
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.30
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–24800 Filed 10–24–24; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
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–
CboeBYX–2024–037 on the subject line.
[Investment Company Act Release No.
35365; 812–15638]
Elevation Series Trust and TrueMark
Investments, LLC
October 21, 2024.
Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’).
ACTION: Notice.
AGENCY:
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–CboeBYX–2024–037. 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–CboeBYX–2024–037 and should be
submitted on or before November 15,
2024.
Notice of an application under section
6(c) of the Investment Company Act of
1940 (‘‘Act’’) for an exemption from
section 15(a) of the Act, as well as from
certain disclosure requirements in rule
20a–1 under the Act, Item 19(a)(3) of
Form N–1A, Items 22(c)(1)(ii),
22(c)(1)(iii), 22(c)(8) and 22(c)(9) of
Schedule 14A under the Securities
Exchange Act of 1934, and Sections 6–
07(2)(a), (b), and (c) of Regulation S–X
(‘‘Disclosure Requirements’’).
SUMMARY OF APPLICATION: The requested
exemption would permit Applicants to
enter into and materially amend
subadvisory agreements with certain
subadvisors without shareholder
approval and grant relief from the
Disclosure Requirements as they relate
to fees paid to the subadvisors.
APPLICANTS: Elevation Series Trust and
TrueMark Investments, LLC.
FILING DATES: The application was filed
on September 27, 2024.
HEARING OR NOTIFICATION OF HEARING:
An order granting the requested relief
will be issued unless the Commission
orders a hearing. Interested persons may
request a hearing on any application by
emailing the SEC’s Secretary at
Secretarys-Office@sec.gov and serving
the Applicants with a copy of the
request by email, if an email address is
listed for the relevant Applicant below,
or personally or by mail, if a physical
address is listed for the relevant
Applicant below. Hearing requests
should be received by the Commission
by 5:30 p.m. on November 15, 2024, and
should be accompanied by proof of
service on the Applicants, in the form
of an affidavit, or, for lawyers, a
certificate of service. Pursuant to rule 0–
5 under the Act, hearing requests should
30 17
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CFR 200.30–3(a)(12).
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Federal Register / Vol. 89, No. 207 / Friday, October 25, 2024 / Notices
state the nature of the writer’s interest,
any facts bearing upon the desirability
of a hearing on the matter, the reason for
the request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
emailing the Commission’s Secretary.
ADDRESSES: The Commission:
Secretarys-Office@sec.gov. Applicants:
JoAnn M. Strasser, JoAnn.Strasser@
thompsonhine.com and Christopher
Moore, Elevation Series Trust c/o
TrueMark Investments, LLC, 1700
Broadway, Suite 1850, Denver, CO
80290.
FOR FURTHER INFORMATION CONTACT:
Barbara T. Heussler, Senior Counsel, or
Thomas Ahmadifar, Branch Chief, at
(202) 551–6825 (Division of Investment
Management, Chief Counsel’s Office).
SUPPLEMENTARY INFORMATION: For
Applicants’ representations, legal
analysis, and conditions, please refer to
Applicants’ application, dated
September 27, 2024, which may be
obtained via the Commission’s website
by searching for the file number at the
top of this document, or for an
Applicant using the Company name
search field on the SEC’s EDGAR
system. The SEC’s EDGAR system may
be searched at https://www.sec.gov/
edgar/searchedgar/legacy/
companysearch.html. You may also call
the SEC’s Public Reference Room at
(202) 551–8090.
For the Commission, by the Division of
Investment Management, under delegated
authority.
Sherry R. Haywood,
Assistant Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–101393; File No. SR–
CboeEDGX–2024–064]
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Amend Its
Fee Schedule
ddrumheller on DSK120RN23PROD with NOTICES1
October 21, 2024.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
10, 2024, Cboe EDGX Exchange, Inc.
(the ‘‘Exchange’’ or ‘‘EDGX’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
17:40 Oct 24, 2024
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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) proposes to
amend its Fee Schedule. The text of the
proposed rule change is provided in
Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (https://markets.cboe.com/us/
options/regulation/rule_filings/edgx/),
at the Exchange’s Office of the
Secretary, 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. 2024–24826 Filed 10–24–24; 8:45 am]
1 15
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 solicit comments on the
proposed rule change from interested
persons.
1. Purpose
The Exchange proposes to update its
Fee Schedule to provide a temporary
20% discount on fees assessed to EDGX
Members (‘‘Members’’) 3 and nonMembers that purchase $20,000 or more
of ad hoc purchases of historical U.S.
Equity Short Volume and Trades
Reports (‘‘Short Volume Reports’’),
effective October 10, 2024 through
December 31, 2024.
By way of background, the Short
Volume Report is an end-of-day report
that summarizes certain equity trading
3 See Rule 1.5(n) (‘‘Member’’). The term
‘‘Member’’ shall mean any registered broker or
dealer that has been admitted to membership in the
Exchange. A Member will have the status of a
‘‘member’’ of the Exchange as that term is defined
in Section 3(a)(3) of the Act. Membership may be
granted to a sole proprietor, partnership,
corporation, limited liability company or other
organization which is a registered broker or dealer
pursuant to Section 15 of the Act, and which has
been approved by the Exchange.
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85271
activity on the Exchange, including
trade date,4 total volume,5 short
volume,6 and sell short exempt
volume,7 by symbol.8 The Short Volume
Report also includes an end-of-month
report that provides a record of all short
sale transactions for the month,
including trade date and time (in
microseconds),9 trade size,10 trade
price,11 and type of short sale
execution,12 by symbol and exchange.13
The Short Volume Report is a
completely voluntary product, in that
the Exchange is not required by any rule
or regulation to make this data available
and that potential customers may
purchase it on an ad-hoc basis only if
they voluntarily choose to do so.
Cboe LiveVol, LLC (‘‘LiveVol’’), a
wholly owned subsidiary of the
Exchange’s parent company, Cboe
Global Markets, Inc., makes the Short
Volume Report available for purchase to
Users on the LiveVol DataShop website
(datashop.cboe.com). Both the end-ofday report and end-of-month report are
included in the cost of the Short
Volume Report and are available for
purchase by both Members as well as
non-Members on an annual or
monthly 14 basis. The monthly fee is
$750 per Internal Distributor 15 and
4 ‘‘Trade date’’ is the date of trading activity in
yyyy-mm-dd format.
5 ‘‘Total volume’’ is the total number of shares
transacted.
6 ‘‘Short volume’’ is the total number of shares
sold short.
7 ‘‘Short exempt volume’’ is the total number of
shares sold short classified as exempt.
8 ‘‘Symbol’’ refers to the Cboe formatted symbol
in which the trading activity occurred. See https://
cdn.cboe.com/resources/membership/US_
Symbology_Reference.pdf.
9 ‘‘Trade date and time’’ is the date and time of
trading activity in yyyy-mm-dd hh:mm:ss.000000
ET format.
10 ‘‘Trade size’’ is the number of shares
transacted.
11 ‘‘Trade price’’ is the price at which shares were
transacted.
12 ‘‘Short type’’ is a data field that will indicate
whether the transaction was a short sale or short
sale exempt transaction. A short sale transaction is
a transaction in which a seller sells a security
which the seller does not own, or the seller has
borrowed for its own account (see 17 CFR 242.200).
A short sale exempt transaction is a short sale
transaction that is exempt from the short sale price
test restrictions of Regulation SHO Rule 201 (see 17
CFR 242.201(c)).
13 ‘‘Exchange’’ is the market identifier (Z = BZX,
Y = BYX, X = EDGX, A = EDGA).
14 The monthly fees for the Report are assessed on
a rolling period based on the original subscription
date. For example, if a User subscribes to the Report
on October 24, 2023, the monthly fee will cover the
period of October 24, 2023, through November 23,
2023. If the User cancels its subscription prior to
November 23, 2023, and no refund is issued, the
User will continue to receive both the end-of-day
and end-of-month components of the Report for the
subscription period.
15 An Internal Distributor of an Exchange Market
Data product is a Distributor that receives the
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]]>Agencies
[Federal Register Volume 89, Number 207 (Friday, October 25, 2024)]
[Notices]
[Pages 85270-85271]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-24826]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 35365; 812-15638]
Elevation Series Trust and TrueMark Investments, LLC
October 21, 2024.
AGENCY: Securities and Exchange Commission (``Commission'' or ``SEC'').
ACTION: Notice.
-----------------------------------------------------------------------
Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 15(a) of
the Act, as well as from certain disclosure requirements in rule 20a-1
under the Act, Item 19(a)(3) of Form N-1A, Items 22(c)(1)(ii),
22(c)(1)(iii), 22(c)(8) and 22(c)(9) of Schedule 14A under the
Securities Exchange Act of 1934, and Sections 6-07(2)(a), (b), and (c)
of Regulation S-X (``Disclosure Requirements'').
Summary of Application: The requested exemption would permit
Applicants to enter into and materially amend subadvisory agreements
with certain subadvisors without shareholder approval and grant relief
from the Disclosure Requirements as they relate to fees paid to the
subadvisors.
Applicants: Elevation Series Trust and TrueMark Investments, LLC.
Filing Dates: The application was filed on September 27, 2024.
Hearing or Notification of Hearing: An order granting the requested
relief will be issued unless the Commission orders a hearing.
Interested persons may request a hearing on any application by emailing
the SEC's Secretary at [email protected] and serving the
Applicants with a copy of the request by email, if an email address is
listed for the relevant Applicant below, or personally or by mail, if a
physical address is listed for the relevant Applicant below. Hearing
requests should be received by the Commission by 5:30 p.m. on November
15, 2024, and should be accompanied by proof of service on the
Applicants, in the form of an affidavit, or, for lawyers, a certificate
of service. Pursuant to rule 0-5 under the Act, hearing requests should
[[Page 85271]]
state the nature of the writer's interest, any facts bearing upon the
desirability of a hearing on the matter, the reason for the request,
and the issues contested. Persons who wish to be notified of a hearing
may request notification by emailing the Commission's Secretary.
ADDRESSES: The Commission: [email protected]. Applicants: JoAnn
M. Strasser, [email protected] and Christopher Moore,
Elevation Series Trust c/o TrueMark Investments, LLC, 1700 Broadway,
Suite 1850, Denver, CO 80290.
FOR FURTHER INFORMATION CONTACT: Barbara T. Heussler, Senior Counsel,
or Thomas Ahmadifar, Branch Chief, at (202) 551-6825 (Division of
Investment Management, Chief Counsel's Office).
SUPPLEMENTARY INFORMATION: For Applicants' representations, legal
analysis, and conditions, please refer to Applicants' application,
dated September 27, 2024, which may be obtained via the Commission's
website by searching for the file number at the top of this document,
or for an Applicant using the Company name search field on the SEC's
EDGAR system. The SEC's EDGAR system may be searched at https://www.sec.gov/edgar/searchedgar/legacy/companysearch.html. You may also
call the SEC's Public Reference Room at (202) 551-8090.
For the Commission, by the Division of Investment Management,
under delegated authority.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-24826 Filed 10-24-24; 8:45 am]
BILLING CODE 8011-01-P
