83 FR 62941 - Long-Term Stock Exchange, Inc.; Notice of Filing of Application for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 234 (December 6, 2018)

Page Range		62941-62941
FR Document		2018-26517

Federal Register, Volume 83 Issue 234 (Thursday, December 6, 2018)

[Federal Register Volume 83, Number 234 (Thursday, December 6, 2018)]
[Notices]
[Page 62941]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-26517]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-84709; File No. 10-234]


Long-Term Stock Exchange, Inc.; Notice of Filing of Application 
for Registration as a National Securities Exchange Under Section 6 of 
the Securities Exchange Act of 1934

November 30, 2018.
    On November 9, 2018, Long-Term Stock Exchange, Inc. (``LTSE'' or 
``Applicant'') filed with the Securities and Exchange Commission 
(``Commission'') a Form 1 application under the Securities Exchange Act 
of 1934 (``Exchange Act''), seeking registration as a national 
securities exchange under Section 6 of the Exchange Act.
    The Commission is publishing this notice to solicit comments on 
LTSE's Form 1 application. The Commission will take any comments it 
receives into consideration in making its determination about whether 
to grant LTSE's request to be registered as a national securities 
exchange. The Commission will grant the registration if it finds that 
the requirements of the Exchange Act and the rules and regulations 
thereunder with respect to LTSE are satisfied.\1\
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    \1\ 15 U.S.C. 78s(a).
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    The Applicant's Form 1 application provides detailed information on 
how LTSE proposes to satisfy the requirements of the Exchange Act. The 
Form 1 application also provides that LTSE would operate a fully 
automated electronic trading platform for the trading of listed 
equities and would not maintain a physical trading floor. It also 
provides that liquidity would be derived from orders to buy and orders 
to sell submitted to LTSE electronically by its registered broker-
dealer members, as well as from quotes submitted electronically by 
market makers. Further, the Form 1 application states that LTSE would 
be wholly-owned by its parent company, LTSE Holdings, Inc. (``LTSEH'').
    A more detailed description of the manner of operation of LTSE's 
proposed system can be found in Exhibit E to LTSE's Form 1 application. 
The proposed rulebook for the proposed exchange can be found in Exhibit 
B to LTSE's Form 1 application, and the governing documents for both 
LTSE and LTSEH can be found in Exhibit A and Exhibit C to LTSE's Form 1 
application, respectively. A listing of the officers and directors of 
LTSE can be found in Exhibit J to LTSE's Form 1 application.
    LTSE's Form 1 application, including all of the Exhibits referenced 
above, is available online at www.sec.gov/rules/other.shtml as well as 
in the Commission's Public Reference Room. Interested persons are 
invited to submit written data, views, and arguments concerning LTSE's 
Form 1, including whether the application is consistent with the 
Exchange Act.
    Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number 10-234 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 10-234. 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 (http://www.sec.gov/rules/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to LTSE'S Form 1 filed with the Commission, and 
all written communications relating to the application 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 10:00 a.m. and 3:00 p.m. All 
comments received will be posted without change. Persons submitting 
comments are cautioned that we do not redact or edit personal 
identifying information from comment submissions. You should submit 
only information that you wish to make publicly available. All 
submissions should refer to File Number 10-234 and should be submitted 
on or before January 22, 2019.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\2\
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    \2\ 17 CFR 200.30-3(a)(71)(i).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26517 Filed 12-5-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 234 / Thursday, December 6, 2018 / Notices 62941

2. How much additional end-of-day (‘‘Commission’’) a Form 1 application Comments may be submitted by any
trading volume in the underlying assets under the Securities Exchange Act of of the following methods:
would the ForceShares ETPs potentially 1934 (‘‘Exchange Act’’), seeking
Electronic Comments
add? How much volume has existing registration as a national securities
leveraged and inverse ETPs added to exchange under Section 6 of the • Use the Commission’s internet
end-of-day trading in their underlying Exchange Act. comment form (http://www.sec.gov/
assets? The Commission is publishing this rules/sro.shtml); or
3. Would the trading activity relating notice to solicit comments on LTSE’s
to the ForceShares ETPs exacerbate Form 1 application. The Commission • Send an email to rule-comments@
market movements or market volatility? will take any comments it receives into sec.gov. Please include File Number 10–
Why or why not? consideration in making its 234 on the subject line.
4. What type of hedging exposure is determination about whether to grant Paper Comments
expected to arise from trading activity in LTSE’s request to be registered as a
these products? national securities exchange. The • Send paper comments in triplicate
5. How would this hedging exposure Commission will grant the registration if to Secretary, Securities and Exchange
change or otherwise react to significant it finds that the requirements of the Commission, 100 F Street NE,
down market moves? For example, how Exchange Act and the rules and Washington, DC 20549–1090.
might such hedging exposure be regulations thereunder with respect to
LTSE are satisfied.1 All submissions should refer to File
adjusted? Number 10–234. This file number
6. Would the listing and trading of The Applicant’s Form 1 application
provides detailed information on how should be included on the subject line
shares of the ForceShares ETPs change if email is used. To help the
the current leveraged and inverse ETP LTSE proposes to satisfy the
requirements of the Exchange Act. The Commission process and review your
market? If so, how? comments more efficiently, please use
Form 1 application also provides that
7. Do investors have access to only one method. The Commission will
LTSE would operate a fully automated
information sufficient to fully post all comments on the Commission’s
electronic trading platform for the
understand the operation and risks of internet website (http://www.sec.gov/
trading of listed equities and would not
the ForceShares ETPs? rules/other.shtml). Copies of the
maintain a physical trading floor. It also
It is ordered that by December 20, submission, all subsequent
provides that liquidity would be derived
2018, any party or other person may file from orders to buy and orders to sell amendments, all written statements
any additional statement. submitted to LTSE electronically by its with respect to LTSE’S Form 1 filed
By the Commission. registered broker-dealer members, as with the Commission, and all written
Eduardo A. Aleman, well as from quotes submitted communications relating to the
Assistant Secretary. electronically by market makers. application between the Commission
[FR Doc. 2018–26403 Filed 12–4–18; 8:45 am] Further, the Form 1 application states and any person, other than those that
that LTSE would be wholly-owned by may be withheld from the public in
BILLING CODE 8011–01–P
its parent company, LTSE Holdings, Inc. accordance with the provisions of 5
(‘‘LTSEH’’). U.S.C. 552, will be available for website
SECURITIES AND EXCHANGE A more detailed description of the viewing and printing in the
COMMISSION manner of operation of LTSE’s proposed Commission’s Public Reference Room,
system can be found in Exhibit E to 100 F Street NE, Washington, DC 20549,
[Release No. 34–84709; File No. 10–234] LTSE’s Form 1 application. The on official business days between the
proposed rulebook for the proposed hours of 10:00 a.m. and 3:00 p.m. All
Long-Term Stock Exchange, Inc.; exchange can be found in Exhibit B to comments received will be posted
Notice of Filing of Application for LTSE’s Form 1 application, and the without change. Persons submitting
Registration as a National Securities governing documents for both LTSE and comments are cautioned that we do not
Exchange Under Section 6 of the LTSEH can be found in Exhibit A and redact or edit personal identifying
Securities Exchange Act of 1934 Exhibit C to LTSE’s Form 1 application, information from comment submissions.
November 30, 2018. respectively. A listing of the officers and You should submit only information
directors of LTSE can be found in that you wish to make publicly
On November 9, 2018, Long-Term
Exhibit J to LTSE’s Form 1 application. available. All submissions should refer
Stock Exchange, Inc. (‘‘LTSE’’ or
LTSE’s Form 1 application, including to File Number 10–234 and should be
‘‘Applicant’’) filed with the Securities
all of the Exhibits referenced above, is submitted on or before January 22, 2019.
and Exchange Commission
available online at www.sec.gov/rules/ For the Commission, by the Division of
Futures contracts (‘‘E-Minis’’ and, together with Big
other.shtml as well as in the Trading and Markets, pursuant to delegated
S&P Contracts, ‘‘Primary S&P Interests’’), swap Commission’s Public Reference Room. authority.2
agreements referencing Primary S&P Interests or the Interested persons are invited to submit
Eduardo A. Aleman,
S&P 500 Index, over-the-counter forward contracts written data, views, and arguments
referencing Primary S&P Interests, options on concerning LTSE’s Form 1, including Assistant Secretary.
Primary S&P Interests, and certain ‘‘Cash [FR Doc. 2018–26517 Filed 12–5–18; 8:45 am]
Equivalents.’’ For more information regarding the
whether the application is consistent
khammond on DSK30JT082PROD with NOTICES

ForceShares ETPs, see Amendment No. 3, available with the Exchange Act. BILLING CODE 8011–01–P

at https://www.sec.gov/comments/sr-nysearca-
2016-120/nysearca2016120-1714666-150363.pdf. 1 15 U.S.C. 78s(a). 2 17 CFR 200.30–3(a)(71)(i).

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Document Created: 2018-12-05 02:36:09
Document Modified: 2018-12-05 02:36:09

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 62941