Federal Register / Vol. 89, No. 177 / Thursday, September 12, 2024 / Notices 74309 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(3)(A). A proposed rule change 

may take effect upon filing with the Commission if 

it is designated by the exchange as ‘‘establishing or 

changing a due, fee, or other charge imposed by the 

self-regulatory organization on any person, whether 

or not the person is a member of the self-regulatory 

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

4Securities Exchange Act Release Nos. 99363 

(January 17, 2024), 89 FR 10850 (February 13, 2024) 

(SR–FINRA–2024–002); 99372 (January 17, 2024), 

89 FR 11153 (February 13, 2024) (SR–FINRA–2024– 

003). 

5See letters from: Edward Weisbaum, Executing 

Broker CBOE Floor, dated February 6, 2024; 

Howard Meyerson, Managing Director, Financial 

Information Forum, to Vanessa Countryman, 

Secretary, Commission, dated March 4, 2024; 

Thomas M. Merritt, Deputy General Counsel, Virtu 

Financial, Inc., to Vanessa Countryman, Secretary, 

Commission, dated March 5, 2024; Ellen Greene, 

Managing Director, Equities & Options Market 

Structure, SIFMA; Joseph Corcoran, Managing 

Director, Associate General Counsel, SIFMA, to 

Vanessa Countryman, Secretary, Commission, dated 

March 5, 2024; Stephen John Berger, Managing 

Director, Global Head of Government & Regulatory 

Policy, Citadel Securities, to Vanessa Countryman, 

Secretary, Commission, dated March 5, 2024; 

Joanna Mallers, Secretary, FIA Principal Traders 

Group, to Vanessa Countryman, Secretary, 

Commission, dated March 9, 2024; and Brandon 

Becker, CAT NMS Plan Operating Committee Chair, 

to Vanessa Countryman, Secretary, Commission, 

dated June 13, 2024. 

6 15 U.S.C. 78s(b)(2). 

7See Securities Exchange Act Release Nos. 

100628 (Jul. 31, 2024), 89 FR 64010 (Aug. 6, 2024) 

(SR–FINRA–2024–002); 100627 (Jul. 31, 2024), 89 

FR 64024 (Aug. 6, 2024) (SR–FINRA–2024–003); 

The Commission designated October 10, 2024 as the 

date by it should approve or disapprove the 

proposed rule changes. 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 99711 

(March 11, 2024), 89 FR 18991 (March 15, 2024) 

(SR–FICC–2024–003). 

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

5Securities Exchange Act Release No. 99769 

(March 19, 2024), 89 FR 20716 (March 25, 2024) 

(SR–FICC–2024–003). 

6Comments on the proposed rule change are 

available at https://www.sec.gov/comments/sr-ficc2024-003/srficc2024003.htm. 

7To promote the public availability and 

transparency of its post-notice partial amendment, 

FICC submitted a copy of Partial Amendment No. 

1 through the Commission’s electronic public 

comment letter mechanism. Accordingly, Partial 

Amendment No. 1 has been posted to the 

Commission’s website at https://www.sec.gov/ 

comments/sr-ficc-2024-003/srficc2024003-455611- 

1167714.pdf and thus been publicly available since 

April 5, 2024. FICC has requested confidential 

treatment pursuant to 17 CFR 240.24b–2 with 

respect to Exhibit 3 and Exhibit 5b. 

8On February 27, 2024, FICC filed the proposed 

rule change as an advance notice with the 

Commission pursuant to Section 806(e)(1) of Title 

VIII of the Dodd-Frank Wall Street Reform and 

Consumer Protection Act entitled the Payment, 

Clearing, and Settlement Supervision Act of 2010 

(‘‘Clearing Supervision Act’’) and Rule 19b– 

4(n)(1)(i) under the Act. 12 U.S.C. 5465(e)(1); 17 

CFR 240.19b–4(n)(1)(i). Notice of the advance 

notice was published in the Federal Register on 

March 15, 2024. Securities Exchange Act Release 

No. 99712 (March 11, 2024), 89 FR 18981 (March 

15, 2024) (SR–FICC–2024–801). Pursuant to Section 

806(e)(1)(H) of the Clearing Supervision Act, the 

Commission extended the review period of the 

advance notice for an additional 60 days after 

finding that the Advance Notice raised novel and 

complex issues. On March 22, 2024, the 

Commission requested additional information from 

FICC pursuant to Section 806(e)(1)(D) of the 

Clearing Supervision Act, which tolled the 

Commission’s review period of review of the 

Advance Notice. 12 U.S.C. 5465(e)(1)(D). On April 

26, 2024, the Commission received FICC’s response 

to the Commission’s request for additional 

information. On April 5, 2024, FICC filed Partial 

Amendment No. 1 to the advance notice, which 

makes the same corrections as Partial Amendment 

No. 1 to the proposed rule change. Notice of the 

advance notice, as modified by Partial Amendment 

No. 1, was published in the Federal Register on 

March 15, 2024. Securities Exchange Act Release 

No. 100140 (May 14, 2024), 89 FR 43941 (May 20, 

2024) (SR–FICC–2024–801). 

9 15 U.S.C. 78s(b)(2)(B). 

10See Securities Exchange Act Release No. 

100141 (May 14, 2024), 89 FR 43915 (May 20, 2024) 

(File No. SR–FICC–2024–003). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–100960; File Nos. FINRA– 

2024–002; SR–FINRA–2024–003] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Withdrawal of 

Proposed Rule Change To Establish 

Fees for Industry Members Related to 

Certain Historical Costs of the National 

Market System Plan Governing the 

Consolidated Audit Trail 

September 6, 2024. 

On January 2, 2024, Financial 

Industry Regulatory Authority, Inc. 

(‘‘FINRA’’) filed with the Securities and 

Exchange Commission (the 

‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 proposed rule changes to 

establish fees for industry members 

related to certain historical costs of the 

National Market System plan governing 

the Consolidated Audit Trail. The 

proposed rule changes were 

immediately effective upon filing with 

the Commission pursuant to Section 

19(b)(3)(A) of the Act.3 On February 13, 

2024, the proposed rule changes were 

published in the Federal Register and 

the Commission temporarily suspended 

and instituted proceedings to determine 

whether to approve or disapprove the 

proposed rule changes.4 The 

Commission received six comments on 

the proposed rule changes and one 

response to those comments.5 On July 

31, 2024, pursuant to Section 19(b)(2) of 

the Act,6 the Commission designated a 

longer period within which to approve 

the proposed rule changes or disapprove 

the proposed rule changes.7 On 

September 5, 2024, FINRA withdrew the 

proposed rule changes (FINRA–2024– 

002; SR–FINRA–2024–003). 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.8

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–20634 Filed 9–11–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–100958; File No. SR–FICC– 

2024–003] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Designation of Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change, 

as Modified by Partial Amendment No. 

1, Concerning the Adoption of a 

Minimum Margin Amount at GSD 

September 6, 2024. 

On February 27, 2024, Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule change SR–FICC–2024–003 

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

Securities Exchange Act of 1934 

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

The notice of filing of the proposed rule 

change was published for comment in 

the Federal Register on March 15, 

2024.3 On March 25, 2024, the 

Commission extended the review period 

of the proposed rule change, pursuant to 

section 19(b)(2) of the Act,4 until June 

13, 2024, as the date by which the 

Commission shall either approve, 

disapprove, or institute proceedings to 

determine whether to disapprove the 

proposed rule change.5 The Commission 

has received comments regarding the 

proposed rule change.6

On April 5, 2024, FICC filed Partial 

Amendment No. 1 to the proposed rule 

change to correct errors FICC discovered 

regarding the impact analysis filed as 

Exhibit 3 and discussed in the filing 

narrative, as well as correct a typo in the 

methodology formula in Exhibit 5b.7

The corrections in Partial Amendment 

No. 1 do not change the substance of the 

proposed rule change.8 On May 20, 

2024, the Commission published notice 

of Partial Amendment No. 1 and 

instituted proceedings, pursuant to 

Section 19(b)(2)(B) of the Exchange 

Act,9 to determine whether to approve 

or disapprove the proposed rule change, 

as modified by the Partial Amendment 

No. 1.10


ddrumheller on DSK120RN23PROD with NOTICES1
74310 Federal Register / Vol. 89, No. 177 / Thursday, September 12, 2024 / Notices 

11 15 U.S.C. 78s(b)(2). 

12 15 U.S.C 78s(b)(2)(B)(ii)(II). 

13 Id. 

14 17 CFR 200.30–3(a)(57). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4For purposes of the Exchange’s colocation 

services, a ‘‘User’’ means any market participant 

that requests to receive colocation services directly 

from the Exchange. See Securities Exchange Act 

Release No. 83351 (May 31, 2018), 83 FR 26314 at 

n.9 (June 6, 2018) (SR–NYSENAT–2018–07). As 

specified in the Fee Schedule, a User that incurs 

colocation fees for a particular colocation service 

pursuant thereto would not be subject to colocation 

fees for the same colocation service charged by the 

New York Stock Exchange LLC (‘‘NYSE’’), NYSE 

American LLC, NYSE Arca, Inc., and NYSE 

Chicago, Inc. (together, the ‘‘Affiliate SROs’’). Each 

Affiliate SRO has submitted substantially the same 

proposed rule change to propose the changes 

described herein. See SR–NYSE–2024–49, SR– 

NYSEAMER–2024–52, SR–NYSEARCA–2024–71, 

and SR–NYSECHX–2024–27. 

5Through its Fixed Income and Data Services 

(‘‘FIDS’’) (previously ICE Data Services) business, 

Intercontinental Exchange, Inc. (‘‘ICE’’) operates the 

MDC. The Exchange and the Affiliate SROs are 

indirect subsidiaries of ICE. 

6See Securities Exchange Act Release No. 90732 

(December 18, 2020), 85 FR 84443 (December 28, 

2020) (SR–NYSE–2020–73, SR–NYSEAMER–2020– 

66, SR–NYSEArca–2020–82, SR–NYSECHX–2020– 

26, and SR–NYSENAT–2020–28) (establishing the 

procedures in current Colocation Note 6(a) and 

7(a)). 

7See Securities Exchange Act Release No. 91515 

(April 8, 2021), 86 FR 19674 (April 14, 2021) (SR– 

NYSE–2021–12, SR–NYSEAMER–2021–08, SR– 

NYSEArca–2021–11, SR–NYSECHX–2021–02, and 

SR–NYSENAT–2021–03) (establishing the 

procedures in current Colocation Note 6(b) and 

7(b)). 

8See Securities Exchange Act Release No. 98937 

(November 14, 2023), 88 FR 80795 (November 20, 

2023) (SR–NYSE–2023–29, SR–NYSEAMER–2023– 

39, SR–NYSEArca–2023–53, SR–NYSECHX–2023– 

16, and SR–NYSENAT–2023–18) (‘‘Ordering 

Window Approval Order’’). 

9 Id., at 80794. 

Section 19(b)(2) of the Exchange 

Act 11 provides that proceedings to 

determine whether to approve or 

disapprove a proposed rule change must 

be concluded within 180 days of the 

date of publication of notice of filing of 

the proposed rule change. The time for 

conclusion of the proceedings may be 

extended for up to 60 days if the 

Commission determines that a longer 

period is appropriate and publishes the 

reasons for such determination.12 The 

180th day after publication of the Notice 

in the Federal Register is September 11, 

2024. 

The Commission is extending the 

period for Commission action on the 

Proposed Rule Change, as modified by 

Partial Amendment No. 1. The 

Commission finds that it is appropriate 

to designate a longer period within 

which to take action on the Proposed 

Rule Change so that the Commission has 

sufficient time to consider the issues 

raised by the Proposed Rule Change and 

to take action on the Proposed Rule 

Change. Accordingly, pursuant to 

Section 19(b)(2)(B)(ii)(II) of the 

Exchange Act,13 the Commission 

designates November 10, 2024, as the 

date by which the Commission should 

either approve or disapprove the 

Proposed Rule Change SR–FICC–2024– 

003. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–20632 Filed 9–11–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–100967; File No. SR– 

NYSENAT–2024–24] 

Self-Regulatory Organizations; NYSE 

National, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending the Existing 

Note in the Connectivity Fee Schedule 

September 6, 2024. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on August 

27, 2024, NYSE National, Inc. (‘‘NYSE 

National’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. 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 amend the 

existing note in the Connectivity Fee 

Schedule (‘‘Fee Schedule’’) regarding 

cabinet and combined waitlists. The 

proposed rule change is available on the 

Exchange’s website at www.nyse.com, 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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

existing note in the Fee Schedule 

regarding cabinet and combined 

waitlists. 

Background 

Shortly after the onset of the Covid– 

19 pandemic, the Exchange began 

experiencing unprecedented User 4

demand for cabinets and power at the 

Mahwah, New Jersey data center 

(‘‘MDC’’).5 In order to manage its 

inventory, in late 2020, the Exchange 

filed to create purchasing limits and a 

waitlist for cabinet orders (‘‘Cabinet 

Waitlist’’).6 In early 2021, the Exchange 

filed to create additional purchasing 

limits and a waitlist for orders for 

additional power in the MDC.7

In 2021 and 2022, the Exchange 

expanded the amount of space and 

power available in the MDC by opening 

a new colocation hall (i.e., Hall 4). ICE 

is currently expanding the amount of 

colocation space and power available at 

the MDC through a new colocation hall 

(i.e., Hall 5). 

The Exchange subsequently amended 

the Fee Schedule to provide an 

alternative procedure by which the 

Exchange can allocate power in the 

Mahwah Data Center via depositguaranteed orders from Users made 

within a 90-day ‘‘Ordering Window.’’ 8

The Ordering Window procedure was 

designed with the goal of addressing 

both (a) whether customer demand 

would support additional expansion 

projects to provide further power, and 

(b) the fact that previous procedures in 

the Fee Schedule were not well-tailored 

to allocating large amounts of power 

that become available all at once, such 

as when a new colocation hall opens.9

Orders received during an Ordering 

Window are not considered finalized 

until the Exchange has received the 

User’s signed order form and a deposit 

equal to two months’ worth of the 

monthly recurring costs of the amount 

of new power ordered. 

The Exchange had a power and 

cabinet waitlist (‘‘Combined Waitlist’’) 

in place before the Ordering Window. 


ddrumheller on DSK120RN23PROD with NOTICES1