Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025, 1558 [2025-00169]

Download as PDF 1558 Federal Register / Vol. 90, No. 5 / Wednesday, January 8, 2025 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2025–00182 Filed 1–7–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–102073; File No. SR–BOX– 2024–31] Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025 January 2, 2025. 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 December 20, 2024, BOX Exchange LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Item I below, which Item has been substantially prepared by the Exchange. The Exchange has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f) thereunder.4 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 amend the Fee Schedule to establish fees for Industry Members 5 related to 6 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f). 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. 5 An ‘‘Industry Member’’ is defined as ‘‘a member of a national securities exchange or a member of a national securities association.’’ See BOX Rule 16010 (Consolidated Audit Trail—Definitions). See also Section 1.1 of the CAT NMS Plan. Unless otherwise specified, capitalized terms used in this lotter on DSK11XQN23PROD with NOTICES1 1 15 VerDate Sep<11>2014 17:50 Jan 07, 2025 Jkt 265001 reasonably budgeted CAT costs of the National Market System Plan Governing the Consolidated Audit Trail (the ‘‘CAT NMS Plan’’ or ‘‘Plan’’) for 2025. These fees would be payable to Consolidated Audit Trail, LLC (‘‘CAT LLC’’ or the ‘‘Company’’) and referred to as CAT Fee 2025–1, and would be described in a section of the Exchange’s Fee Schedule entitled ‘‘Consolidated Audit Trail Funding Fees.’’ The fee rate for CAT Fee 2025–1 would be $0.000022 per executed equivalent share. CAT Executing Brokers will receive their first monthly invoice for CAT Fee 2025–1 in February 2025 calculated based on their transactions as CAT Executing Brokers for the Buyer (‘‘CEBB’’) and/or CAT Executing Brokers for the Seller (‘‘CEBS’’) in January 2025. CAT Fee 2025–1 is anticipated to be in place for six months, and is anticipated to recover approximately one-half of the costs set forth in the reasonably budgeted CAT costs for 2025. CAT LLC intends for CAT Fee 2025–1 to replace CAT Fee 2024–1 (which has a fee rate of $0.000035).6 The proposed rule change, including the Exchange’s statement of the purpose of, and statutory basis for, the proposed rule change, is available on the Exchange’s website at https:// rules.boxexchange.com/rulefilings, at the principal office of the Exchange, and on the Commission’s website at https:// www.sec.gov/rules-regulations/selfregulatory-organization-rulemaking/ national-securities-exchanges?file_ number=SR-BOX-2024-31. electronically by using the Commission’s internet comment form (https://www.sec.gov/rules-regulations/ self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-BOX-202431) or by sending an email to rulecomments@sec.gov. Please include file number SR–BOX–2024–31 on the subject line. Alternatively, paper comments may be sent to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. All submissions should refer to file number SR–BOX–2024–31. 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-regulations/ self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-BOX-202431). 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–BOX–2024–31 and should be submitted on or before January 29, 2025. II. 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.7 Comments may be submitted [FR Doc. 2025–00169 Filed 1–7–25; 8:45 am] rule filing are defined as set forth in the CAT NMS Plan and/or the CAT Compliance Rule. See BOX Rule Series 16000 (CONSOLIDATED AUDIT TRAIL COMPLIANCE RULE). 6 See paragraph A.3. of Consolidated Audit Trail Funding Fees. See BOX Fee Schedule, Section VIII.A.3. (CAT Fee 2024–1). See also Securities Exchange Act Rel. No. 100829 (Aug. 27, 2024), 89 FR 71448 (Sept. 3, 2024) (‘‘Fee Filing for CAT Fee 2024–1’’). 7 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 SRO. PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 J. Matthew DeLesDernier, Deputy Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–102092; File No. SR– NASDAQ–2024–088] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Definitions of ‘‘Class’’ and ‘‘Series’’ To Harmonize Terms With Affiliated Exchanges January 2, 2025. 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 December 20, 2024, The Nasdaq Stock Market LLC (‘‘Exchange’’) filed with the Securities and Exchange Commission 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\08JAN1.SGM 08JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 90, Number 5 (Wednesday, January 8, 2025)]
[Notices]
[Page 1558]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-00169]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-102073; File No. SR-BOX-2024-31]


Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Establish Fees 
for Industry Members Related to Reasonably Budgeted CAT Costs of the 
National Market System Plan Governing the Consolidated Audit Trail for 
2025

January 2, 2025.
    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 December 20, 2024, BOX Exchange LLC (``Exchange'') filed with the 
Securities and Exchange Commission (``Commission'') the proposed rule 
change as described in Item I below, which Item has been substantially 
prepared by the Exchange. The Exchange has designated this proposal for 
immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act \3\ 
and Rule 19b-4(f) thereunder.\4\ The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f). 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the Fee Schedule to establish fees 
for Industry Members \5\ related to reasonably budgeted CAT costs of 
the National Market System Plan Governing the Consolidated Audit Trail 
(the ``CAT NMS Plan'' or ``Plan'') for 2025. These fees would be 
payable to Consolidated Audit Trail, LLC (``CAT LLC'' or the 
``Company'') and referred to as CAT Fee 2025-1, and would be described 
in a section of the Exchange's Fee Schedule entitled ``Consolidated 
Audit Trail Funding Fees.'' The fee rate for CAT Fee 2025-1 would be 
$0.000022 per executed equivalent share. CAT Executing Brokers will 
receive their first monthly invoice for CAT Fee 2025-1 in February 2025 
calculated based on their transactions as CAT Executing Brokers for the 
Buyer (``CEBB'') and/or CAT Executing Brokers for the Seller (``CEBS'') 
in January 2025. CAT Fee 2025-1 is anticipated to be in place for six 
months, and is anticipated to recover approximately one-half of the 
costs set forth in the reasonably budgeted CAT costs for 2025. CAT LLC 
intends for CAT Fee 2025-1 to replace CAT Fee 2024-1 (which has a fee 
rate of $0.000035).\6\
---------------------------------------------------------------------------

    \5\ An ``Industry Member'' is defined as ``a member of a 
national securities exchange or a member of a national securities 
association.'' See BOX Rule 16010 (Consolidated Audit Trail--
Definitions). See also Section 1.1 of the CAT NMS Plan. Unless 
otherwise specified, capitalized terms used in this rule filing are 
defined as set forth in the CAT NMS Plan and/or the CAT Compliance 
Rule. See BOX Rule Series 16000 (CONSOLIDATED AUDIT TRAIL COMPLIANCE 
RULE).
    \6\ See paragraph A.3. of Consolidated Audit Trail Funding Fees. 
See BOX Fee Schedule, Section VIII.A.3. (CAT Fee 2024-1). See also 
Securities Exchange Act Rel. No. 100829 (Aug. 27, 2024), 89 FR 71448 
(Sept. 3, 2024) (``Fee Filing for CAT Fee 2024-1'').
---------------------------------------------------------------------------

    The proposed rule change, including the Exchange's statement of the 
purpose of, and statutory basis for, the proposed rule change, is 
available on the Exchange's website at https://rules.boxexchange.com/rulefilings, at the principal office of the Exchange, and on the 
Commission's website at https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-BOX-2024-31.

II. 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.\7\ Comments may be submitted 
electronically by using the Commission's internet comment form (https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-BOX-2024-31) or by sending 
an email to [email protected]. Please include file number SR-BOX-
2024-31 on the subject line. Alternatively, paper comments may be sent 
to Secretary, Securities and Exchange Commission, 100 F Street NE, 
Washington, DC 20549-1090. All submissions should refer to file number 
SR-BOX-2024-31. 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-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-BOX-2024-31). 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-BOX-2024-31 and should be submitted on 
or before January 29, 2025.
---------------------------------------------------------------------------

    \7\ 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 SRO.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2025-00169 Filed 1-7-25; 8:45 am]
BILLING CODE 8011-01-P

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