85962 Federal Register / Vol. 88, No. 236 / Monday, December 11, 2023 / Notices 

31See letter from Thomas M. Merritt, Deputy 

General Counsel, Virtu Financial, Inc. (‘‘Virtu’’), to 

Vanessa Countryman, Secretary, Commission, dated 

November 8, 2023. 

32 15 U.S.C. 78s(b)(3)(A)(ii). 

33 17 CFR 240.19b–4(f)(2). 

34 17 CFR 200.30–3(a)(12). 

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

Exchange and reducing market share. In 

this competitive environment, potential 

purchasers are free to choose which, if 

any, similar product to purchase to 

satisfy their need for risk management. 

As a result, the Exchange believes this 

proposed rule change permits fair 

competition among national securities 

exchanges. 

The Exchange also does not believe 

the proposal would cause any 

unnecessary or inappropriate burden on 

intermarket competition as other 

exchanges are free to introduce their 

own purge port functionality and lower 

their prices to better compete with the 

Exchange’s offering. The Exchange does 

not believe the proposed rule change 

would cause any unnecessary or 

inappropriate burden on intramarket 

competition. Particularly, the proposal 

would apply uniformly to any market 

participant, in that it does not 

differentiate between Market Makers. 

The proposal would allow any 

interested Market Makers to purchase 

Purge Port functionality based on their 

business needs. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange received one comment 

letter on the proposal.31 This comment 

letter was submitted not only on this 

proposal, but also the proposals by the 

Exchange and its affiliates to amend fees 

for 10Gb ULL connectivity and certain 

ports. Overall, the Exchange believes 

that the issues raised by the commenter 

are not germane to this proposal because 

they apply primarily to the other fee 

filings. Also, the commenter’s raised 

concerns with the current environment 

surrounding exchange non-transaction 

fee proposals that should be addressed 

by the Commission through rule 

making, or Congress, more holistically 

and not through an individual exchange 

fee filings. However, the commenter 

does raise one issue that concerns this 

proposal whereby it asserts that the 

Exchange’s comparison to fees charged 

by other exchanges for similar ports is 

irrelevant and unpersuasive. The core of 

the issue raised is regarding the cost to 

connect to one exchange compared to 

the cost to connect to others. A thorough 

response to this comment would require 

the Exchange to obtain competitively 

sensitive information about other 

exchange architecture and how their 

members connect. The Exchange is not 

privy to this information. Further, the 

commenter compares the Exchange’s 

proposed rate to other exchanges that 

offer purge port functionality across all 

matching engines for a single fee, but 

fails to provide the same comparison to 

other exchanges that charge for purge 

functionality like proposed here. The 

Exchange does not have insight into the 

technical architecture of other 

exchanges so it is difficult to ascertain 

the number of purge ports a firm would 

need to connect to another exchanges 

entire market. Therefore, the Exchange 

is limited to comparing its proposed fee 

to other exchanges’ purge port fees as 

listed in their fee schedules. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to section 

19(b)(3)(A)(ii) of the Act,32 and Rule 

19b–4(f)(2) 33 thereunder. 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– 

MIAX–2023–43 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–MIAX–2023–43. 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–MIAX–2023–43 and should be 

submitted on or before January 2, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.34

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27066 Filed 12–8–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99082; File No. SR– 

NYSEARCA–2023–70] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change To List 

and Trade Shares of the Grayscale 

Ethereum Trust Under NYSE Arca Rule 

8.201–E (Commodity-Based Trust 

Shares) 

December 5, 2023. 

On October 10, 2023, NYSE Arca, Inc. 

(‘‘Exchange’’) 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 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 88, No. 236 / Monday, December 11, 2023 / Notices 85963 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 98780 

(Oct. 23, 2023), 88 FR 73892. Comments on the 

proposed rule change are available at: https://

www.sec.gov/comments/sr-nysearca-2023-70/ 

srnysearca202370.htm. 

4 15 U.S.C. 78s(b)(2). 

5 15 U.S.C. 78s(b)(2). 

6 17 CFR 200.30–3(a)(31). 

thereunder,2 a proposed rule change to 

list and trade shares of the Grayscale 

Ethereum Trust under NYSE Arca Rule 

8.201–E (Commodity-Based Trust 

Shares). The proposed rule change was 

published for comment in the Federal 

Register on October 27, 2023.3

Section 19(b)(2) of the Act 4 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 after 

publication of the notice for this 

proposed rule change is December 11, 

2023. The Commission is extending this 

45-day time period. 

The Commission finds it appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change 

and the issues raised therein. 

Accordingly, the Commission, pursuant 

to section 19(b)(2) of the Act,5

designates January 25, 2024, 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–NYSEARCA–2023–70). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27063 Filed 12–8–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–558, OMB Control No. 

3235–0617] 

Submission for OMB Review; 

Comment Request; Extension: Rule 

433 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collection of information 

discussed below. 

Rule 433 (17 CFR 230.433) governs 

the use and filing of free writing 

prospectuses under the Securities Act of 

1933 (15 U.S.C. 77a et seq.). The 

purpose of Rule 433 is to reduce the 

restrictions on communications that an 

issuer can make to investors during a 

registered offering of its securities, 

while maintaining important investor 

protections. A free writing prospectus 

meeting the conditions of Rule 433(d)(1) 

must be filed with the Commission and 

is publicly available. We estimate that it 

takes approximately 2.44764 hours per 

response to prepare a free writing 

prospectus and that approximately 

20,179 responses are filed per year for 

a total internal burden of 49,391 hours 

(2.4476 hours per response × 20,179 

responses). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

The public may view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice by January 10, 2024 to (i) 

www.reginfo.gov/public/do/PRAMain 

and (ii) David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or by sending an email to: 

PRA_Mailbox@sec.gov. 

Dated: December 6, 2023. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27145 Filed 12–8–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–114, OMB Control No. 

3235–0102] 

Submission for OMB Review; 

Comment Request; Extension: Tender 

Offer—Regulation 14D and Regulation 

14E, Schedule 14D–9 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collection of information 

discussed below. 

Regulation 14D (17 CFR 240.14d–1— 

240.14d–11) and Regulation 14E (17 

CFR 240.14e–1—240.14e–8) and related 

Schedule 14D–9 (17 CFR 240.14d–101) 

require information important to 

security holders in deciding how to 

respond to tender offers. Schedule 14D– 

9 takes approximately 260.56 hours per 

response to prepare and is filed by 

approximately 63 companies annually. 

We estimate that 25% of the 260.56 

hours per response (65.14 hours) is 

prepared by the company for an annual 

reporting burden of 4,104 hours (65.14 

hours per response × 63 responses). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

The public may not view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice by January 10, 2024 to (i) 

www.reginfo.gov/public/do/PRAMain 

and (ii) David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or by sending an email to: 

PRA_Mailbox@sec.gov. 

Dated: December 6, 2023. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–27149 Filed 12–8–23; 8:45 am] 

BILLING CODE 8011–01–P 


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