2680 Federal Register / Vol. 89, No. 10 / Tuesday, January 16, 2024 / Notices 

82 17 CFR 200.30–3(a)(12). 

certain of the Index’s Constituent 

Trading Platforms also have or have 

begun to implement market surveillance 

infrastructure to further detect, prevent, 

and respond to fraud, attempted fraud, 

and similar wrongdoing, including 

market manipulation. The proposed rule 

change is also designed to prevent 

fraudulent and manipulative acts and 

practices based on the existence of the 

CME futures market as a large, 

surveilled and regulated market that is 

closely connected with the spot market 

for Bitcoin and through which the 

Exchange could obtain information to 

assist in detecting and deterring 

potential fraud or manipulation. 

The proposed rule change is designed 

to promote just and equitable principles 

of trade and to protect investors and the 

public interest in that there is a 

considerable amount of Bitcoin price 

and market information available on 

public websites and through 

professional and subscription services. 

Investors may obtain, on a 24-hour 

basis, Bitcoin pricing information based 

on the spot price for Bitcoin from 

various financial information service 

providers. The closing price and 

settlement prices of Bitcoin are readily 

available from the Digital Asset Trading 

Platforms and other publicly available 

websites. In addition, such prices are 

published in public sources, or on-line 

information services such as Bloomberg 

and Reuters. The NAV per Share will be 

calculated daily and made available to 

all market participants at the same time. 

The Trust will provide website 

disclosure of its NAV and NAV per 

Share daily. One or more major market 

data vendors will disseminate for the 

Trust on a daily basis information with 

respect to the most recent NAV per 

Share and Shares outstanding. In 

addition, if the Exchange becomes 

aware that the NAV per Share is not 

disseminated to all market participants 

at the same time, it will halt trading in 

the Shares until such time as the NAV 

per Share is available to all market 

participants. Quotation and last-sale 

information regarding the Shares will be 

disseminated through the facilities of 

the CTA. The IIV will be widely 

disseminated on a per Share basis every 

15 seconds during the NYSE Arca Core 

Trading Session (normally 9:30 a.m., 

E.T., to 4:00 p.m., E.T.) by one or more 

major market data vendors. The 

Exchange represents that the Exchange 

may halt trading during the day in 

which an interruption to the 

dissemination of the IIV or the value of 

the Index occurs. If the interruption to 

the dissemination of the IIV or the value 

of the Index persists past the trading day 

in which it occurred, the Exchange will 

halt trading no later than the beginning 

of the trading day following the 

interruption. 

The proposed rule change is designed 

to perfect the mechanism of a free and 

open market and, in general, to protect 

investors and the public interest in that 

it will facilitate the listing and trading 

of an additional type of exchange-traded 

product that will enhance competition 

among market participants, to the 

benefit of investors and the marketplace. 

As noted above, the Exchange has in 

place surveillance procedures relating to 

trading in the Shares and may obtain 

information via ISG from other 

exchanges that are members of ISG or 

with which the Exchange has entered 

into a CSSA. In addition, as noted 

above, investors will have ready access 

to information regarding the Trust’s 

NAV per Share, IIV, and quotation and 

last sale information for the Shares. 

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 purposes of the Act. The 

Exchange notes that the proposed rule 

change will facilitate the listing and 

trading of an additional type of 

exchange-traded product, and the first 

such product based on Bitcoin, which 

will enhance competition among market 

participants, 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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. 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– 

NYSEARCA–2021–90 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–NYSEARCA–2021–90. 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–NYSEARCA–2021–90 and should be 

submitted on or before February 6, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.82

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–00636 Filed 1–12–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2 p.m. on Thursday, 

January 18, 2024. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 10 / Tuesday, January 16, 2024 / Notices 2681 

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

2 17 CFR 240.19b–4. 

3Located in the ‘‘MRUT LMM Incentive 

Program’’ table in the Fees Schedule. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. In the 

event that the time, date, or location of 

this meeting changes, an announcement 

of the change, along with the new time, 

date, and/or place of the meeting will be 

posted on the Commission’s website at 

https://www.sec.gov. 

The General Counsel of the 

Commission, or her designee, has 

certified that, in her opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations 

and enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON MORE INFORMATION: For 

further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

(Authority: 5 U.S.C. 552b) 

Dated: January 11, 2024. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–00756 Filed 1–11–24; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99301; File No. SR–CBOE– 

2024–001] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Its Fees 

Schedule 

January 9, 2024. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 2, 

2023, Cboe Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘Cboe Options’’) filed 

with the Securities and Exchange 

Commission (the ‘‘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 

Cboe Exchange, Inc. (the ‘‘Exchange’’ 

or ‘‘Cboe Options’’) proposes to amend 

its Fees Schedule. The text of the 

proposed rule change is provided in 

Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://www.cboe.com/ 

AboutCBOE/CBOELegalRegulatory

Home.aspx), at the Exchange’s Office of 

the Secretary, 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 proposes to amend its 

Fees Schedule in connection with 

certain Lead Market-Maker (‘‘LMM’’) 

Incentive Programs, effective January 2, 

2024. Specifically, the Exchange 

proposes to amend the following: the 

Mini Russell 2000 Index (‘‘MRUT’’) 

options LMM Incentive Program; the 

Nanos S&P 500 (‘‘NANOS’’) Index 

options LMM Incentive Program; the 

Global Trading Hours (‘‘GTH’’) Cboe 

Volatility Index (‘‘VIX’’) options and 

VIX Weekly (‘‘VIXW’’) options LMM 

Incentive Programs; and the GTH MiniSPX Index (‘‘XSP’’) LMM Incentive 

Programs. 

Each LMM Incentive Program 

provides a rebate to Trading Permit 

Holders (‘‘TPHs’’) with LMM 

appointments to the respective 

incentive program that meet certain 

quoting standards in the applicable 

series in a month. The Exchange notes 

that meeting or exceeding the quoting 

standards (both current and as 

proposed; described in further detail 

below) in each of the LMM Incentive 

Program products to receive the 

applicable rebate (both currently offered 

and as proposed; described in further 

detail below) is optional for an LMM 

appointed to a program. Particularly, an 

LMM appointed to an incentive program 

is eligible to receive the corresponding 

rebate if it satisfies the applicable 

quoting standards, which the Exchange 

believes encourages appointed LMMs to 

provide liquidity in the applicable class 

and trading session (i.e., Regular 

Trading Hours (‘‘RTH’’) or GTH). The 

Exchange may consider other 

exceptions to the programs’ quoting 

standards based on demonstrated legal 

or regulatory requirements or other 

mitigating circumstances. In calculating 

whether an LMM appointed to an 

incentive program meets the applicable 

program’s quoting standards each 

month, the Exchange excludes from the 

calculation in that month the business 

day in which the LMM missed meeting 

or exceeding the quoting standards in 

the highest number of the applicable 

series. 

MRUT LMM Incentive Program 

The Exchange first proposes to amend 

the current MRUT LMM Incentive 

Program. Currently, the program 

provides that if the appointed LMM in 

MRUT provides continuous electronic 

quotes during RTH that meet or exceed 

the program’s heightened quoting 

standards 3 in at least 97% of the series 

90% of the time in a given month, the 

LMM will receive a rebate for that 

month in the amount of $15,000 (or prorated amount if an appointment begins 

after the first trading day of the month 

or ends prior to the last trading day of 

the month). In addition to the rebate, if 

the appointed LMM meets or exceeds 

the above heightened quoting standards 

in a given month, the LMM will receive 

the Monthly average daily volume 

(‘‘ADV’’) Payment amount that 

corresponds to the level of ADV 

provided by the LMM in MRUT for that 


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