Federal Register / Vol. 88, No. 215 / Wednesday, November 8, 2023 / Notices 77127 

51 17 CFR 200.30–3(a)(12). 

a daily basis on the Trust’s website. The 

price of ETH will be made available by 

one or more major market data vendors, 

updated at least every 15 seconds 

during Regular Trading Hours. 

Information about the Index, including 

key elements of how the Index is 

calculated, will be publicly available at 

The NAV for the Trust will be 

calculated by the Administrator once a 

day and will be disseminated daily to 

all market participants at the same time. 

Quotation and last-sale information 

regarding the Shares will be 

disseminated through the facilities of 

the CTA. 

Quotation and last sale information 

for ETH is widely disseminated through 

a variety of major market data vendors, 

including Bloomberg and Reuters, as 

well as the Index. Information relating 

to trading, including price and volume 

information, in ETH is available from 

major market data vendors and from the 

exchanges on which ETH are traded. 

Depth of book information is also 

available from ETH exchanges. The 

normal trading hours for ETH exchanges 

are 24 hours per day, 365 days per year. 

In sum, the Exchange believes that 

this proposal is consistent with the 

requirements of Section 6(b)(5) of the 

Act, that this filing sufficiently 

demonstrates that the CME ETH Futures 

market represents a regulated market of 

significant size, and that on the whole 

the manipulation concerns previously 

articulated by the Commission are 

sufficiently mitigated to the point that 

they are outweighed by investor 

protection issues that would be resolved 

by approving this proposal. For the 

above reasons, the Exchange believes 

that the proposed rule change is 

consistent with the requirements of 

Section 6(b)(5) of the Act. 

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 that is not 

necessary or appropriate in furtherance 

of the purpose of the Act. The Exchange 

notes that the proposed rule change, 

rather will facilitate the listing and 

trading of an additional exchange-traded 

product that will enhance competition 

among both market participants and 

listing venues, to the benefit of investors 

and the marketplace. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the Exchange consents, the Commission 

will: 

A. by order approve or disapprove 

such proposed rule change, or 

B. institute proceedings to determine 

whether the proposed rule change 

should be 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– 

CboeBZX–2023–087 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–CboeBZX–2023–087. 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–CboeBZX–2023–087 and should be 

submitted on or before November 29, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.51

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–24623 Filed 11–7–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

35045; File No. 812–15439] 

Nomura Alternative Income Fund, et al. 

November 3, 2023. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’ or ‘‘SEC’’). 

ACTION: Notice. 

Notice of application for an order 

(‘‘Order’’) under sections 17(d) and 57(i) 

of the Investment Company Act of 1940 

(the ‘‘Act’’) and rule 17d–1 under the 

Act to permit certain joint transactions 

otherwise prohibited by sections 17(d) 

and 57(a)(4) of the Act and rule 17d–1 

under the Act. 

Summary of Application: Applicants 

request an order to permit certain 

business development companies 

(‘‘BDCs’’) and closed-end management 

investment companies to co-invest in 

portfolio companies with each other and 

with certain affiliated investment 

entities. 

Applicants: Nomura Alternative 

Income Fund, Nomura Private Capital 

LLC, and NCOF, LLC. 

Filing Dates: The application was 

filed on February 16, 2023, and 

amended on June 26, 2023, and 

September 28, 2023. 

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, 


lotter on DSK11XQN23PROD with NOTICES1
77128 Federal Register / Vol. 88, No. 215 / Wednesday, November 8, 2023 / Notices 

1The Participants include BOX Exchange LLC, 

Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., 

Cboe C2 Exchange, Inc., Cboe EDGA Exchange, Inc., 

Cboe EDGX Exchange, Inc., Cboe Exchange, Inc., 

Financial Industry Regulatory Authority, Inc., 

Investors’ Exchange LLC, Long-Term Stock 

Exchange, Inc., MEMX LLC, Miami International 

Securities Exchange LLC, MIAX Emerald, LLC, 

MIAX PEARL, LLC, Nasdaq BX, Inc., Nasdaq 

GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, 

Nasdaq PHLX LLC, The Nasdaq Stock Market LLC, 

New York Stock Exchange LLC, NYSE American 

LLC, NYSE Arca, Inc., NYSE Chicago, Inc., and 

NYSE National, Inc. 

2See Securities Exchange Act Release No. 67457 

(July 18, 2012), 77 FR 45722 (Aug. 1, 2012) (‘‘Rule 

613 Adopting Release’’). 

3Securities Exchange Act Release No. 78318 

(Nov. 15, 2016), 81 FR 84696, (Nov. 23, 2016) 

(‘‘CAT NMS Plan Approval Order’’). The CAT NMS 

Plan is Exhibit A to the CAT NMS Plan Approval 

Order. See CAT NMS Plan Approval Order, at 

84943–85034. The CAT NMS Plan functions as the 

limited liability company agreement of the jointly 

owned limited liability company formed under 

Delaware state law through which the Participants 

conduct the activities of the CAT (the ‘‘Company’’). 

Each Participant is a member of the Company and 

jointly owns the Company on an equal basis. The 

Participants submitted to the Commission a 

proposed amendment to the CAT NMS Plan on 

Aug. 29, 2019, which they designated as effective 

on filing. Under the amendment, the limited 

liability company agreement of a new limited 

liability company named Consolidated Audit Trail, 

LLC serves as the CAT NMS Plan, replacing in its 

entirety the CAT NMS Plan. See Securities 

Exchange Act Release No. 87149 (Sept. 27, 2019), 

84 FR 52905 (Oct. 3, 2019). 

4See Securities Exchange Act Release No. 90689 

(Dec. 16, 2020), 85 FR 83667 (Dec. 22, 2020); see 

also Letter from Michael Simon, CAT NMS Plan 

Operating Committee Chair, to Vanessa 

Countryman, Secretary, Commission, dated Dec. 1, 

2020, available at https://catnmsplan.com/sites/ 

default/files/2020-12/12.01.20-CAT-ExemptionRequest-OTQT.pdf. 

5See Securities Exchange Act Release No. 90688 

(Dec. 16, 2020), 85 FR 83634 (Dec. 22, 2020). 

6See Motion for Partial Stay of Order 34–90689, 

at 2; Motion for Partial Stay of Order 34–90688, at 

2. Financial Industry Regulatory Authority, Inc. and 

Long-Term Stock Exchange, Inc. did not join these 

motions. 

7See Petition for Review, USCA Case No. 21– 

1065; Petition for Review, USCA Case No. 21–1066. 

Financial Industry Regulatory Authority, Inc., 

Investors Exchange LLC, Long-Term Stock 

Exchange, Inc., MEMX LLC, Miami International 

Securities Exchange LLC, MIAX Emerald, LLC, and 

MIAX PEARL, LLC did not join these petitions. 

8See Securities Exchange Act Release No. 95234 

(July 8, 2022), 87 FR 42247 (July 14, 2022). 

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 27, 2023, and 

should be accompanied by proof of 

service on 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 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 at 

Secretarys-Office@sec.gov. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

Joshua B. Deringer, Esq., Faegre Drinker 

Biddle & Reath LLP, at joshua.deringer@

faegredrinker.com; with a copy to 

Robert Stark, Nomura Private Capital 

LLC, Worldwide Plaza, 309 W 49th 

Street, New York, NY 10019. 

FOR FURTHER INFORMATION CONTACT: 

Kieran G. Brown, Senior Counsel, or 

Terri Jordan, 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’ second amended and 

restated application, dated September 

28, 2023, 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, http://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. 2023–24663 Filed 11–7–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98848] 

Order Granting Conditional Exemptive 

Relief, Pursuant to Section 36(a)(1) of 

the Securities Exchange Act of 1934 

(‘‘Exchange Act’’) and Rule 608(e) of 

Regulation NMS Under the Exchange 

Act, From Certain Requirements of the 

National Market System Plan 

Governing the Consolidated Audit Trail 

November 2, 2023. 

I. Introduction 

In July 2012, the Securities and 

Exchange Commission (the 

‘‘Commission’’ or the ‘‘SEC’’) adopted 

Rule 613 of Regulation NMS, which 

required national securities exchanges 

and national securities associations (the 

‘‘Participants’’) 1 to jointly develop and 

submit to the Commission a national 

market system plan to create, 

implement, and maintain a consolidated 

audit trail (the ‘‘CAT’’).2 The goal of 

Rule 613 was to create a modernized 

audit trail system that would provide 

regulators with timely access to a 

comprehensive set of trading data, thus 

enabling regulators to more efficiently 

and effectively analyze and reconstruct 

market events, monitor market behavior, 

conduct market analysis to support 

regulatory decisions, and perform 

surveillance, investigation, and 

enforcement activities. On November 

15, 2016, the Commission approved the 

national market system plan required by 

Rule 613 (the ‘‘CAT NMS Plan’’).3

On December 16, 2020, the 

Commission issued two exemptive 

orders regarding the implementation of 

the CAT NMS Plan (collectively, the 

‘‘2020 Orders’’). The first order, in 

response to a request from the 

Participants, granted temporary 

conditional relief from certain 

performance requirements related to the 

online targeted query tool (‘‘OTQT’’).4

The second order granted temporary 

conditional relief from the following 

requirements: (1) requirements for 

lifecycle linkages timeframes; (2) 

requirements for re-processing of 

corrected data received after T+5; (3) 

linkage requirements for Securities 

Information Processor data (‘‘SIP Data’’); 

(4) reporting requirements for port-level 

settings; (5) requirements for lifecycle 

linkages between customer orders and 

‘‘representative’’ orders; and (6) 

requirements for Participant reporting of 

rejected orders.5

On February 14, 2021, several of the 

Participants filed motions requesting 

that the Commission stay the 2020 

Orders, based on their concern that 

portions of the orders ‘‘interpret and 

apply the Plan in ways that will 

produce unintended adverse 

consequences, present implementation 

challenges, or both.’’ 6 That same day, 

several of those same Participants filed 

corresponding petitions for judicial 

review with the U.S. Court of Appeals 

for the District of Columbia Circuit (the 

‘‘D.C. Circuit’’) seeking review of the 

2020 Orders.7

On July 8, 2022, the Commission 

issued a new order granting temporary 

exemptive relief (the ‘‘2022 Order’’).8

The 2022 Order, which superseded the 


lotter on DSK11XQN23PROD with NOTICES1