83 FR 37544 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Relating to ATS Reporting of Transactions to TRACE in U.S. Treasury Securities
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 148 (August 1, 2018)
Federal Register Volume 83, Issue 148 (August 1, 2018)
| Page Range | 37544-37545 | |
| FR Document | 2018-16426 |
[Federal Register Volume 83, Number 148 (Wednesday, August 1, 2018)] [Notices] [Pages 37544-37545] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-16426] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83722; File No. SR-FINRA-2018-023] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change Relating to ATS Reporting of Transactions to TRACE in U.S. Treasury Securities July 26, 2018. On June 5, 2018, the Financial Industry Regulatory Authority, Inc. (``FINRA'') 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 amend FINRA Rule 6730 to require certain alternative trading systems (``ATSs'') that report transactions in U.S. Treasury Securities to the Transaction Reporting and Compliance Engine (``TRACE'') to identify non-FINRA-member subscribers on those transaction reports. The proposed rule change was published for comment in the Federal Register on June 13, 2018.\3\ The Commission received three comments regarding the proposed rule change.\4\ --------------------------------------------------------------------------- \1\ 15 U.S.C.78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 83393 (June 7, 2018), 83 FR 27643 (``Notice''). \4\ See letter to Secretary, Commission, from Stephen John Berger, Managing Director, Government and Regulatory Policy, Citadel, dated July 5, 2018; letter to Robert W. Errett, Deputy Secretary, Commission, from Theodore Bragg, Chief Executive Officer, Execution Access, LLC, dated July 3, 2018; letter to Brent J. Fields, Secretary, Commission, from Tyler Gellasch, Executive Director, The Healthy Markets Association, dated July 5, 2018. --------------------------------------------------------------------------- Section 19(b)(2) of the Act \5\ provides that, within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day for this filing is July 28, 2018. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78s(b)(2). --------------------------------------------------------------------------- The Commission notes that Section 19(b)(5) of the Act requires the Commission to ``consult with and consider the views of the Secretary of [[Page 37545]] the Treasury prior to approving a proposed rule filed by a registered securities association that primarily concerns conduct related to transactions in government securities.'' \6\ The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change in order to consider fully the comments received on the proposal and to complete the consultation process required under Section 19(b)(5). Accordingly, pursuant to Section 19(b)(2) of the Act,\7\ the Commission designates September 11, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-FINRA-2018-023). --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(5). \7\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(31). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2018-16426 Filed 7-31-18; 8:45 am] BILLING CODE 8011-01-P
![37544 Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Notices
would promote the prompt and accurate Electronic Comments SECURITIES AND EXCHANGE
clearance and settlement of securities COMMISSION
transactions consistent with the Act. • Use the Commission’s internet
comment form (http://www.sec.gov/ [Release No. 34–83722; File No. SR–FINRA–
(B) Clearing Agency’s Statement on rules/sro.shtml); or 2018–023]
Burden on Competition
• Send an email to rule-comments@ Self-Regulatory Organizations;
DTC does not believe that the sec.gov. Please include File Number SR– Financial Industry Regulatory
proposed rule change would have any DTC–2018–004 on the subject line. Authority, Inc.; Notice of Designation
impact on competition. The proposed of a Longer Period for Commission
Paper Comments
rule change would merely clarify and Action on a Proposed Rule Change
provide enhanced transparency with • Send paper comments in triplicate Relating to ATS Reporting of
respect to the DTC Underwriting Service to Secretary, Securities and Exchange Transactions to TRACE in U.S.
by amending the text of the Commission, 100 F Street NE, Treasury Securities
Underwriting Guide (i) for enhanced Washington, DC 20549. July 26, 2018.
readability, transparency and flow of
All submissions should refer to File On June 5, 2018, the Financial
content, (ii) to update (a) details on
Number SR–DTC–2018–004. This file Industry Regulatory Authority, Inc.
existing processes and (b) contact
number should be included on the (‘‘FINRA’’) filed with the Securities and
information, (iii) for enhanced
subject line if email is used. To help the Exchange Commission (‘‘Commission’’),
consistency with respect to processes
Commission process and review your pursuant to Section 19(b)(1) of the
and requirements described in other
comments more efficiently, please use Securities Exchange Act of 1934
Procedures that are related to those set
only one method. The Commission will (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
forth in the Underwriting Guide,
proposed rule change to amend FINRA
specifically the OA and Custody Guide post all comments on the Commission’s
Rule 6730 to require certain alternative
and (iv) to make other technical internet website (http://www.sec.gov/
trading systems (‘‘ATSs’’) that report
changes, as described above, which rules/sro.shtml). Copies of the
transactions in U.S. Treasury Securities
amendments would not significantly submission, all subsequent to the Transaction Reporting and
affect the rights and obligations of users amendments, all written statements Compliance Engine (‘‘TRACE’’) to
of DTC’s services, and would not with respect to the proposed rule identify non-FINRA-member subscribers
disproportionally impact any users. change that are filed with the on those transaction reports. The
(C) Clearing Agency’s Statement on Commission, and all written proposed rule change was published for
Comments on the Proposed Rule communications relating to the comment in the Federal Register on
Change Received From Members, proposed rule change between the June 13, 2018.3 The Commission
Participants, or Others Commission and any person, other than received three comments regarding the
those that may be withheld from the proposed rule change.4
DTC has not received or solicited any public in accordance with the Section 19(b)(2) of the Act 5 provides
written comments relating to this provisions of 5 U.S.C. 552, will be that, within 45 days of the publication
proposal. DTC will notify the available for website viewing and of notice of the filing of a proposed rule
Commission of any written comments printing in the Commission’s Public change, or within such longer period up
received by DTC. Reference Room, 100 F Street, NE, to 90 days as the Commission may
III. Date of Effectiveness of the Washington, DC 20549 on official designate if it finds such longer period
Proposed Rule Change, and Timing for business days between the hours of to be appropriate and publishes its
Commission Action 10:00 a.m. and 3:00 p.m. Copies of the reasons for so finding or as to which the
filing also will be available for self-regulatory organization consents,
The foregoing rule change has become inspection and copying at the principal the Commission shall either approve the
effective pursuant to Section 19(b)(3)(A) office of DTC and on DTCC’s website proposed rule change, disapprove the
of the Act 28 and paragraph (f) of Rule (http://dtcc.com/legal/sec-rule- proposed rule change, or institute
19b–4 thereunder.29 At any time within filings.aspx). All comments received proceedings to determine whether the
60 days of the filing of the proposed rule will be posted without change. Persons proposed rule change should be
change, the Commission summarily may submitting comments are cautioned that disapproved. The 45th day for this filing
temporarily suspend such rule change if we do not redact or edit personal is July 28, 2018.
it appears to the Commission that such identifying information from comment The Commission notes that Section
action is necessary or appropriate in the submissions. You should submit only 19(b)(5) of the Act requires the
public interest, for the protection of information that you wish to make Commission to ‘‘consult with and
investors, or otherwise in furtherance of available publicly. All submissions consider the views of the Secretary of
the purposes of the Act. should refer to File Number SR–DTC– 1 15 U.S.C.78s(b)(1).
IV. Solicitation of Comments 2018–004 and should be submitted on 2 17 CFR 240.19b–4.
or before August 22, 2018. 3 See Securities Exchange Act Release No. 83393
Interested persons are invited to For the Commission, by the Division of (June 7, 2018), 83 FR 27643 (‘‘Notice’’).
submit written data, views and Trading and Markets, pursuant to delegated
4 See letter to Secretary, Commission, from
arguments concerning the foregoing, Stephen John Berger, Managing Director,
sradovich on DSK3GMQ082PROD with NOTICES
authority.30 Government and Regulatory Policy, Citadel, dated
including whether the proposed rule Robert W. Errett, July 5, 2018; letter to Robert W. Errett, Deputy
change is consistent with the Act. Secretary, Commission, from Theodore Bragg, Chief
Comments may be submitted by any of Deputy Secretary. Executive Officer, Execution Access, LLC, dated
the following methods: [FR Doc. 2018–16418 Filed 7–31–18; 8:45 am] July 3, 2018; letter to Brent J. Fields, Secretary,
Commission, from Tyler Gellasch, Executive
BILLING CODE 8011–01–P
Director, The Healthy Markets Association, dated
28 15 U.S.C. 78s(b)(3)(A). July 5, 2018.
29 17 CFR 240.19b–4(f). 30 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2).
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![Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Notices 37545
the Treasury prior to approving a solicit comments on the proposed rule affiliates of the Exchange.5 The
proposed rule filed by a registered change from interested persons. Exchange also proposes to make a non-
securities association that primarily substantive change to the Fee
concerns conduct related to transactions I. Self-Regulatory Organization’s Schedules.
in government securities.’’ 6 The Statement of the Terms of Substance of The Exchange proposes that the
Commission finds that it is appropriate the Proposed Rule Change proposed rule change become operative
to designate a longer period within The Exchange proposes to amend the upon the closing of the Transaction.
which to take action on the proposed NYSE Arca Options Fees and Charges General Note 4
rule change in order to consider fully (the ‘‘Options Fee Schedule’’) and the
the comments received on the proposal Pursuant to General Note 4 of the Fee
NYSE Arca Equities Fees and Charges Schedules, when a User 6 purchases
and to complete the consultation (the ‘‘Equities Fee Schedule’’ and,
process required under Section 19(b)(5). access to the Liquidity Center Network
together with the Options Fee Schedule, (‘‘LCN’’) or the internet protocol (‘‘IP’’)
Accordingly, pursuant to Section the ‘‘Fee Schedules’’) related to co-
19(b)(2) of the Act,7 the Commission network, the two local area networks
location services in connection with a available in the data center,7 a User
designates September 11, 2018, as the proposed transaction (‘‘Transaction’’)
date by which the Commission shall receives (a) the ability to access the
whereby the Chicago Stock Exchange, trading and execution systems of the
either approve or disapprove, or Inc. (‘‘CHX’’) Exchange and its parent,
institute proceedings to determine Exchange and the Affiliate SROs
CHX Holdings, Inc. (‘‘CHX Holdings’’), (‘‘Exchange Systems’’), and (b)
whether to disapprove, the proposed would become indirect subsidiaries of
rule change (File No. SR–FINRA–2018– connectivity to any of the listed data
Intercontinental Exchange, Inc. (‘‘ICE’’), products (‘‘Included Data Products’’)
023). the Exchange’s indirect parent, and that it selects. The majority of the
For the Commission, by the Division of affiliates of the Exchange. The Exchange Included Data Products are proprietary
Trading and Markets, pursuant to delegated also proposes to make a non-substantive feeds of the Exchange and the Affiliate
authority.8 change to the Fee Schedules. The SROs.8
Robert W. Errett, proposed rule change is available on the Upon the closing of the Transaction,
Deputy Secretary. Exchange’s website at www.nyse.com, at CHX will be an affiliate of both the
[FR Doc. 2018–16426 Filed 7–31–18; 8:45 am] the principal office of the Exchange, and Exchange and the Affiliate SROs.
BILLING CODE 8011–01–P
at the Commission’s Public Reference Consistent with the treatment of the
Room. Exchange’s and the Affiliate SROs’
trading and execution systems and data
II. Self-Regulatory Organization’s
SECURITIES AND EXCHANGE products, the Exchange proposes to
Statement of the Purpose of, and
COMMISSION expand the definition of Exchange
Statutory Basis for, the Proposed Rule
Systems to incorporate CHX’s trading
Change
[Release No. 34–83716; File No. SR–
and execution systems, and to add
NYSEARCA–2018–53] In its filing with the Commission, the CHX’s data products to the table of
self-regulatory organization included Included Data Products. In order to
Self-Regulatory Organizations; NYSE statements concerning the purpose of, make the change, the Exchange
Arca, Inc.; Notice of Filing and and basis for, the proposed rule change proposes to add CHX to the list of
Immediate Effectiveness of Proposed and discussed any comments it received trading and execution system providers
Rule Change To Amend the NYSE Arca on the proposed rule change. The text in the first sentence of the first
Options Fees and Charges and the of those statements may be examined at paragraph and add CHX to the lists of
NYSE Arca Equities Fees and Charges the places specified in Item IV below. 5 In order to effect the Transaction, a wholly-
Related to Co-Location Services in The Exchange has prepared summaries, owned subsidiary of the Exchange’s direct parent
Connection With a Proposed set forth in sections A, B, and C below, company, NYSE Group, Inc., would merge with and
Transaction With the Chicago Stock of the most significant parts of such into CHX Holdings, with CHX Holdings continuing
Exchange, Inc. Exchange and Its statements. as the surviving corporation. See Securities
Exchange Act Release Nos. 83635 (July 13, 2018)
Parent, CHX Holdings, Inc. (SR–CHX–2018–004), and 83303 (May 22, 2018), 83
A. Self-Regulatory Organization’s
FR 24517 (May 29, 2018) (SR–CHX–2018–004).
July 26, 2018. Statement of the Purpose of, and the CHX would also become an affiliate of the
Pursuant to Section 19(b)(1) 1 of the Statutory Basis for, the Proposed Rule Exchange’s affiliates the New York Stock Exchange
Securities Exchange Act of 1934 Change LLC (‘‘NYSE’’), NYSE American LLC (‘‘NYSE
American’’), and NYSE National, Inc. (‘‘NYSE
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3 1. Purpose National’’ and, together, the ‘‘Affiliate SROs’’).
notice is hereby given that, on July 16, 6 For purposes of the Exchange’s co-location
2018, NYSE Arca, Inc. (‘‘Exchange’’ or The Exchange proposes to amend the services, a ‘‘User’’ means any market participant
Fee Schedules related to co-location 4 that requests to receive co-location services directly
‘‘NYSE Arca’’) filed with the Securities from the Exchange. See Securities Exchange Act
and Exchange Commission services in connection with the Release No. 76010 (September 29, 2015), 80 FR
(‘‘Commission’’) the proposed rule proposed Transaction whereby CHX and 60197 (October 5, 2015) (SR–NYSEArca–2015–82).
change as described in Items I and II its parent, CHX Holdings, would As specified in the Fee Schedules, a User that
become indirect subsidiaries of ICE, the incurs co-location fees for a particular co-location
below, which Items have been prepared service pursuant thereto would not be subject to co-
by the self-regulatory organization. The Exchange’s indirect parent, and location fees for the same co-location service
sradovich on DSK3GMQ082PROD with NOTICES
Commission is publishing this notice to charged by the Affiliate SROs. See Securities
4 The Exchange initially filed rule changes Exchange Act Release No. 70173 (August 13, 2013),
6 15 relating to its co-location services with the 78 FR 50459 (August 19, 2013) (SR–NYSEArca–
U.S.C. 78s(b)(5). 2013–80).
7 15 U.S.C. 78s(b)(2). Commission in 2010. See Securities Exchange Act
7 See Securities Exchange Act Release No. 79729
8 17 CFR 200.30–3(a)(31).
Release No. 63275 (November 8, 2010), 75 FR 70048
(November 16, 2010) (SR–NYSEArca–2010–100). (January 4, 2017), 82 FR 3061 (January 10, 2017)
1 15 U.S.C. 78s(b)(1).
The Exchange operates a data center in Mahwah, (SR–NYSEArca–2016–172).
2 15 U.S.C. 78a.
New Jersey (the ‘‘data center’’) from which it 8 Id. Included Data Products are listed in the Fee
3 17 CFR 240.19b–4. provides co-location services to Users. Schedules under General Note 4.
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Document Created: 2018-08-01 01:22:57
Document Modified: 2018-08-01 01:22:57
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 83 FR 37544 |
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