Federal Register / Vol. 88, No. 204 / Tuesday, October 24, 2023 / Notices 73065 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Purge Ports will be available for RASH, FIX and 

OUCH protocols. 

4See Securities Exchange Act Release No. 34– 

97825 (June 30, 2023); 88 FR 43405 (July 7, 2023) 

(SR–Phlx–2023–28). 

5Members seeking to become registered as an 

Exchange Market Maker must comply with the 

applicable requirements of General 3, Section 1. See 

Equity 2, Section 4. 

6The Exchange expects the purging functionality 

to remain substantially similar to Purge Ports, as 

described above, and would offer the purging 

functionality as long as it offers Purge Ports. 

7The RASH Order entry protocol is a proprietary 

protocol that allows members to enter Orders, 

cancel existing Orders and receive executions. 

RASH allows participants to use advanced 

functionality, including discretion, random reserve, 

pegging and routing. 

8Financial Information eXchange (FIX) is a 

vendor-neutral standard message protocol that 

defines an electronic message exchange for 

communicating securities transactions between two 

parties. 

9The OUCH Order entry protocol is a proprietary 

protocol that allows subscribers to quickly enter 

orders into the System and receive executions. 

OUCH accepts limit Orders from members, and if 

there are matching Orders, they will execute. Nonmatching Orders are added to the Limit Order Book, 

a database of available limit Orders, where they are 

matched in price-time priority. OUCH only 

provides a method for members to send Orders and 

receive status updates on those Orders. 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: October 19, 2023. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–23416 Filed 10–23–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98770; File No. SR–BX– 

2023–026] 

Self-Regulatory Organizations; Nasdaq 

BX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Establish Purge Ports 

for Equities Trading 

October 18, 2023. 

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 October 

10, 2023, Nasdaq BX, Inc. (‘‘BX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘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 

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 establish 

Purge Ports for equities trading, as 

described below. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/nasdaq/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 is proposing to 

establish a new port type, ‘‘Purge Port,’’ 

which is a function enabling Exchange 

Participants (the ‘‘Participants’’) to 

cancel all open orders or a subset of 

open orders (per MPID, buy or sell side 

of the order, or ticker symbol) across 

multiple protocols through a single 

cancel message.3 The Exchange also 

proposes to amend the Pricing Schedule 

in Equity 7, Section 115 to set fees for 

Purge Ports and to waive the fees for the 

Purge Ports in the Exchange’s Test 

Facility for the first two months a 

Participant uses them in the Test 

Facility. Finally, the Exchange proposes 

to make functional enhancements to its 

Order entry protocols to include a 

function enabling Participants to cancel, 

through a single cancel message, all 

open orders or a subset of open orders 

(per MPID, buy or sell side of the order, 

or ticker symbol) entered through that 

port (the ‘‘purging functionality’’). The 

Exchange notes that its sister exchange, 

Nasdaq PHLX, LLC, recently filed with 

the SEC a proposal to adopt similar 

functionality and pricing.4

A logical port represents a port 

established by the Exchange within the 

Exchange’s system for trading and 

billing purposes. Each logical port 

grants a Participant the ability to 

accomplish a specific function, such as 

order entry, order cancellation, access to 

execution reports, and other 

administrative information. 

The proposed Purge Ports are 

designed to assist Participants, 

including Market Makers 5 in the 

management of, and risk control over, 

their orders, particularly if the firm is 

dealing with a large number of 

securities. For example, if a Participant 

detects market indications that may 

influence the execution potential of 

their orders, the Participant may use the 

proposed Purge Ports to reduce 

uncertainty and to manage risk by 

purging all orders in a number of 

securities. This would allow the 

Participant to seamlessly avoid 

unintended executions, while 

continuing to evaluate the market, their 

positions, and their risk levels. While 

Purge Ports will be available to all 

Participants, the Exchange anticipates 

they will be used primarily by firms that 

conduct business activity that exposes 

them to a large amount of risk across a 

number of securities. The proposed 

purging functionality will operate 

similar to a Purge Port, by allowing a 

Participant to purge all orders or a 

subset of open orders (per MPID, buy or 

sell side of the order, or ticker symbol) 

open on that port. The only material 

difference for a Participant, between 

relying on the purging functionality as 

opposed to using a Purge Port, is that 

Purge Port requires a Participant to send 

one message to accomplish desired 

cancellation of orders or a subset thereof 

as described above, while the purging 

functionality requires a Participant to 

send multiple messages (which could be 

sent simultaneously) to accomplish the 

same task.6

Participants may currently cancel 

individual orders through the existing 

functionality of the RASH Order entry 

protocol,7 FIX Order entry protocol 8

and the OUCH Order entry protocol.9 In 

addition to the current functionality, 

which is being retained, the Exchange 

now proposes to expand the ability of 

Participants to cancel orders through the 

new purge functionality, which would 

enable them to cancel all open orders or 

a subset of open orders (per MPID, buy 

or sell side of the order, or ticker 

symbol) entered through a single port; 

and through the proposed Purge Ports, 

which would enable them to cancel all 

open orders, or a subset of open orders 

(per MPID, buy or sell side of the order, 

or ticker symbol) across multiple 


ddrumheller on DSK120RN23PROD with NOTICES1
73066 Federal Register / Vol. 88, No. 204 / Tuesday, October 24, 2023 / Notices 

10See Securities Exchange Act Release No. 84405 

(October 11, 2018), 83 FR 52598 (October 17, 

2018)(SR–CboeEDGA–2018–016). Explaining its 

decision to waive the 30-day operative delay of this 

proposed rule change, the Commission stated that 

it believed that purge ports may be a helpful tool 

for managing the risk associated with trading 

equities, and that this can be important both for 

individual market participants and the market in 

general. 

11Current Exchange port functionality supports 

cancelation rates that exceed one thousand 

messages per second and the Exchange’s research 

indicates that certain Participants rely on such 

functionality and at times utilize such cancelation 

rates. 

12 15 U.S.C. 78f(b). 

13 15 U.S.C. 78f(b)(4) and (5). 

14See footnote 6, above. 

15See Securities Exchange Act Release No. 77613 

(April 13, 2016), 81 FR 23023 (April 19, 2016). See 

also Securities Exchange Act Release Nos. 79956 

(February 3, 2017), 82 FR 10102 (February 9, 2017) 

(SR–BatsBZX–2017–05); 79957 (February 3, 2017), 

82 FR 10070 (February 9, 2017) (SR–BatsEDGX– 

2017–07); 83201 (May 9, 2018), 83 FR 22546 (May 

15, 2018) (SR–C2–2018–006). 

16 17 CFR 242.602. 

17See Equity 2, Section 5. 

18Cboe charges $650 per port/per month for 

Purge Ports that have substantially similar 

functionality. This fee is also $100 more than the 

protocols through a single cancel 

message. 

The Exchange notes that dedicated 

Purge Ports are not a new functionality 

for equities exchanges, as Nasdaq PHLX, 

LLC and other equity exchanges already 

offer similar functionality.10 The 

Exchange also notes that the proposed 

Purge Ports increase efficiency of 

already existing functionality enabling 

the cancellation of orders. The Exchange 

operates highly performant systems 

with significant throughput and 

determinism which allows participants 

to enter, update and cancel orders at 

high rates. In that regard, Participants 

can cancel orders in rapid succession 

across their order entry ports.11 In 

addition, the Exchange provides a 

similar ability to mass cancel orders 

through the BX Kill Switch, which is an 

optional tool offered at no charge that 

enables Participants to establish predetermined levels of risk exposure, 

which can be used to cancel all open 

orders. Similarly, Participants may use 

cancel-on-disconnect control when they 

experience a disruption in connection to 

the Exchange to immediately cancel all 

pending Exchange orders except for 

good-till-canceled orders. Accordingly, 

the Exchange believes that the purge 

functionality and Purge Ports provide an 

efficient option as an alternative to 

already available services and enhance 

the Participant’s ability to manage their 

risk. 

The Exchange proposes to provide the 

purging functionality without charging 

any additional fees. All existing ports 

will be enhanced with the purging 

functionality and will continue to be 

subject to the existing fee schedule 

without any changes. 

The Exchange proposes to adopt a fee 

for Purge Ports of $500 per port/per 

month. As stated above, the Exchange 

believes that Participants would benefit 

from a dedicated purge mechanism. 

Only firms that request Purge Ports 

would be subject to the proposed fees, 

and other firms can continue to operate 

in exactly the same manner as they do 

today without dedicated Purge Ports, 

but with the additional purging 

functionality. 

The Exchange proposes to waive the 

applicable $300 per Purge Port, per 

month fees for Participants that use 

their Exchange access protocols 

connection through the Exchange’s 

Testing Facility to test the new Purge 

Ports. The fees will be waived for the 

first two calendar months from the date 

the participant first receives access to 

Purge Ports in the Test Facility. A 

Participant may choose to conduct 

testing for OUCH, FIX and RASH 

protocols simultaneously or at different 

times. If a Participant chooses to 

conduct tests for their protocols 

separately, the fees will be waived each 

time. 

After the two months of service, a 

Participant will be expected to have 

fully tested the new Purge Ports and 

will be charged for any fees incurred for 

using the Exchange’s Testing Facility 

ports thereafter. 

Implementation 

The Exchange will issue an Equity 

Trader Alert to members announcing 

the exact date the Exchange will 

implement the Purge Ports and the 

purging functionality, as described 

above. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,12 in general, and furthers the 

objectives of Sections 6(b)(4) and 6(b)(5) 

of the Act,13 in particular, in that it 

provides for the equitable allocation of 

reasonable dues, fees and other charges 

among members and issuers and other 

persons using any facility, and is not 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. The 

proposal is also designed to promote 

just and equitable principles of trade, to 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general to protect investors and the 

public interest. 

The Exchange believes that the 

proposed rule change would promote 

just and equitable principles of trade 

and remove impediments to and perfect 

the mechanism of a free and open 

market because offering Participants a 

new optional service promotes choice, 

flexibility, efficiency, and competition. 

The Exchange believes the new features 

may enhance participants’ ability to 

manage orders, which would, in turn, 

improve their risk controls to the benefit 

of all market participants. The Exchange 

believes that the purging functionality 

and the Purge Ports would foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities because 

designating Purge Ports for purge 

messages may encourage better use of 

such ports. This may, concurrent with 

the ports that carry quote and other 

information necessary for market 

making activities, enable more efficient, 

as well as fair and reasonable, use of 

Market Makers’ resources. Although 

dedicated Purge Ports are a new 

functionality for the Exchange,14 similar 

connectivity and functionality is offered 

by options exchanges, including the 

Exchange’s own affiliated options 

exchanges, and other equities 

exchanges.15 The Exchange believes that 

proper risk management, including the 

ability to efficiently cancel multiple 

orders quickly when necessary, is 

similarly valuable to firms that trade in 

the equities market, including Market 

Makers that have heightened quoting 

obligations that are not applicable to 

other market participants. 

The proposed rule change will not 

relieve Market Makers of their quoting 

obligations or firm quote obligations 

under Regulation NMS Rule 602.16

Specifically, any interest that is 

executable against a Participant’s or 

Market Maker’s quotes and orders that 

is received by the Exchange prior to the 

time of the removal of orders request 

will automatically execute. Market 

Makers that purge their orders will not 

be relieved of the obligation to provide 

continuous two-sided quotes on a daily 

basis, nor will it prohibit the Exchange 

from taking disciplinary action against a 

Market Maker for failing to meet their 

continuous quoting obligation each 

trading day.17

Dedicated Purge Ports, which were 

originally introduced for options 

trading, subsequently became a feature 

in the equities market. The Exchange, 

therefore, is not the first equities 

exchange to offer this functionality to 

Participants and to charge associated 

fees.18


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 204 / Tuesday, October 24, 2023 / Notices 73067 

fee for a logical port on its exchange. See, Cboe 

EDGA U.S. Equities Exchange Fee Schedule. 

19Current Exchange port functionality supports 

cancelation rates that exceed one thousand 

messages per second and the Exchange’s research 

indicates that certain Participants rely on such 

functionality and at times utilize such cancelation 

rates. 

The Exchange believes the proposed 

fee for Purge Ports is reasonable. The 

Exchange currently charges $400 per 

port/per month for logical ports. The 

Exchange believes it is reasonable to 

charge $500 per month for the proposed 

Purge Ports, which is $100 more than 

the fee for a logical port, as such ports 

represent targeted enhancement of 

technology and were specially 

developed to allow for the sending of a 

single message to cancel multiple 

orders, thereby assisting firms in 

effectively managing risk. The Exchange 

also believes that a Participant that 

chooses to utilize a Purge Port may, in 

the future, reduce their need for 

additional logical ports by consolidating 

cancel messages to the Purge Port and 

thus freeing up some capacity of the 

existing logical ports and, therefore, 

allowing for increased message traffic 

without paying for additional logical 

ports. In addition, the proposed purging 

functionality will allow Participants to 

achieve essentially the same outcome 

without paying for a dedicated Purge 

Port. Purge Ports provide the ability to 

cancel multiple orders across multiple 

ports with less messaging from the firms 

using the ports and therefore may create 

efficiencies for firms and provide a more 

economical solution to their risk 

management needs. In addition, Purge 

Port requests may cancel orders 

submitted over numerous ports and 

contain added functionality to purge 

only a subset of these orders (per MPID, 

buy or sell side of the order, or ticker 

symbol). Effective risk management is 

important both for individual market 

participants that choose to utilize risk 

features provided by the Exchange, as 

well as for the market in general. As a 

result, the Exchange believes that it is 

appropriate to charge fees for such 

functionality as doing so aids in the 

maintenance of a fair and orderly 

market. 

The Exchange also believes that its 

ability to set fees for Purge Ports is 

subject to significant substitution-based 

forces because Participants are able to 

rely on currently available services both 

free and those they receive when using 

existing trading protocols, which will 

include the proposed purging 

functionality. If the value of the 

efficiency introduced through the Purge 

Port functionality is not worth the 

proposed fees, Participants will simply 

continue to rely on the existing 

functionality and the proposed purging 

functionality and not pay for Purge 

Ports. In that regard, Participants 

already can cancel orders individually 

and by utilizing Nasdaq protocols that 

allow them to develop proprietary 

systems that can send cancel messages 

at a high rate.19 In addition, the 

Exchange already provides similar 

ability to mass cancel orders through the 

BX Kill Switch, which is an optional 

tool offered at no charge that enables 

Participants to establish pre-determined 

levels of risk exposure, and can be used 

to cancel all open orders. Similarly, 

Participants may use cancel-ondisconnect control when they 

experience a disruption in connection to 

the Exchange to immediately cancel all 

pending Exchange orders except for 

good-till-canceled orders. Finally, the 

proposed purging functionality will 

allow Participants to achieve essentially 

the same outcome in canceling orders as 

they would by utilizing the Purge Ports. 

Accordingly, the Exchange believes that 

the proposed Purge Ports fee is 

reasonable because it is related to the 

efficiency introduced by the Purge Port 

functionality related to other means and 

services already available which are 

either free or already a part of a fee 

assessed to the Participant’s for existing 

connectivity. Accordingly, because the 

proposed Purge Ports provide additional 

optional functionality, excessive fees 

would simply serve to reduce or 

eliminate demand for this optional 

product. 

The Exchange also believes that 

offering the purging functionality and 

the Purge Ports at the Exchange level 

promotes risk management across the 

industry, and thereby facilitates investor 

protection. Some market participants, in 

particular the larger firms, could and do 

build similar risk functionality (as 

described above) in their trading 

systems that permit the flexible 

cancellation of orders entered on the 

Exchange at a high rate. Offering 

Exchange level protections ensures that 

such functionality is widely available to 

all firms, including smaller firms that 

may otherwise not be willing to incur 

the costs and development work 

necessary to support their own 

customized mass cancel functionality. 

As noted above, the Exchange is not 

the first equities exchange to develop 

and offer dedicated Purge Ports for 

equities trading, and the proposed rate 

is the same or lower than that charged 

by other equities exchanges for similar 

functionality. Generally speaking, 

restricting the Exchange’s ability to offer 

new services and charge fees for these 

new services discourages innovation 

and competition. Specifically in this 

case, the Exchange’s inability to 

introduce similar services to those 

offered by other exchanges, and charge 

reasonable and equitable fees for such 

services, would put the Exchange at a 

significant competitive disadvantage 

and therefore serves to restrict 

competition in the market—especially 

when other exchanges assess fees higher 

than those proposed by the Exchange. 

The Exchange believes that the 

proposed Purge Port fees are equitable 

because the proposed Purge Ports are 

completely voluntary as they relate 

solely to optional risk management 

functionality. 

The Exchange also believes that the 

proposed amendments to its fee 

schedule are not unfairly discriminatory 

because they will apply uniformly to all 

Participants that choose to use the 

optional Purge Ports. The proposed 

Purge Ports are completely voluntary 

and, as they relate solely to optional risk 

management functionality, no 

Participant is required or under any 

regulatory obligation to utilize them. All 

Participants that voluntarily select this 

service option will be charged the same 

amount for the same services. All 

Participants have the option to select 

any connectivity option, and there is no 

differentiation among Participants with 

regard to the fees charged for the 

services offered by the Exchange. 

The Exchange believes that the 

proposal to waive the applicable $300 

per Purge Port, per month fees for 

Participants that conduct tests of their 

PSX [sic] access protocols connection 

through the Exchange’s Testing Facility 

to test the new Purge Ports functionality 

is reasonable and not unfairly 

discriminatory. Importantly, the 

Exchange believes the two month 

waiver of the fee will encourage testing 

of the new optional Purge Ports, which 

will allow participants to evaluate 

whether the new optional service is of 

value to them and if so will help them 

better implement them into their 

workflow. All Participants will be 

notified about the availability of the 

new Purge Port functionality and have 

access to test it but will not be required 

to use it. Moreover, the fees for the 

RASH, FIX and OUCH ports will remain 

the same and apply to all Participants in 

the same manner. Based on the 

Exchange’s experience, we anticipate 

that Participants will complete testing 

the new Purge Ports within two months 

from initiating such tests and thus will 

not incur any fees related to testing the 

functionality of Purge Ports. 


ddrumheller on DSK120RN23PROD with NOTICES1
73068 Federal Register / Vol. 88, No. 204 / Tuesday, October 24, 2023 / Notices 

20 15 U.S.C. 78s(b)(3)(A)(iii). 

21 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. 22 17 CFR 200.30–3(a)(12). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. To the 

contrary, the Exchange believes the 

proposed rule change will enhance 

competition because it will enable the 

Exchange to innovate and offer similar 

equities Purge Port functionality to that 

offered by other equity exchanges and 

on options markets today. The proposed 

Purge Ports are completely voluntary 

and will be made available to all 

members on an equal basis at the same 

cost. While the Exchange believes that 

the proposed Purge Ports provide a 

valuable service, Participants can 

choose to purchase, or not purchase, 

these ports based on their own 

determination of the value and their 

business needs. No Participant is 

required or under any regulatory 

obligation to utilize Purge Ports. 

Accordingly, the Exchange believes that 

the proposed rule change is designed to 

offer appropriate risk management 

functionality to firms that trade on the 

Exchange without imposing an 

unnecessary or inappropriate burden on 

competition. 

The Exchange is also allowing the 

Participants to test this new 

functionality for free by providing a two 

month waiver in the Exchange’s Test 

Facility. Accordingly, the Exchange 

believes that the proposed rule change 

is designed to offer optional risk 

management functionality to firms that 

trade on the Exchange without imposing 

an unnecessary or inappropriate burden 

on competition. 

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 20 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.21

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 

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: 

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–2023–026 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–2023–026. 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–2023–026 and should be 

submitted on or before November 14, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–23402 Filed 10–23–23; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 12239] 

Notice of Determinations; Culturally 

Significant Object Being Imported for 

Exhibition—Determinations: Exhibition 

of ‘‘Head of a Woman (Fernande)’’ 

Object 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that a certain object being 

imported from abroad pursuant to an 

agreement with its foreign owner or 

custodian for temporary exhibition or 

display in the Department of Modern 

and Contemporary Art of The 

Metropolitan Museum of Art, New York, 

New York, and at possible additional 

exhibitions or venues yet to be 

determined, is of cultural significance, 

and, further, that its temporary 

exhibition or display within the United 

States as aforementioned is in the 

national interest. I have ordered that 

Public Notice of these determinations be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: 

Reed Liriano, Program Coordinator, 

Office of the Legal Adviser, U.S. 

Department of State (telephone: 202– 

632–6471; email: section2459@

state.gov). The mailing address is U.S. 

Department of State, L/PD, 2200 C Street 

NW (SA–5), Suite 5H03, Washington, 

DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 


ddrumheller on DSK120RN23PROD with NOTICES1