77910 Federal Register / Vol. 89, No. 185 / Tuesday, September 24, 2024 / Notices 

30 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 99306 

(January 10, 2024) 89 FR 3008 (January 17, 2024) 

(SR–CboeBZX–2023–028) (Order Granting 

Accelerated Approval of Proposed Rule Changes, as 

Modified by Amendments Thereto, To List and 

Trade Bitcoin-Based Commodity-Based Trust 

Shares and Trust Units) (the ‘‘Bitcoin ETP Approval 

Order’’). 

4See Securities Exchange Act Release No. 100224 

(May 23, 2024) 89 FR 46937 (May 30, 2024) (SR– 

CboeBZX–2023–070) (Order Granting Accelerated 

Approval of Proposed Rule Changes, as Modified by 

Amendments Thereto, to List and Trade Shares of 

Ether-Based Exchange-Traded Products) (the ‘‘Eth 

ETP Approval Order’’). The Eth Trust was originally 

named the ARK 21Shares Ethereum ETF, as 

reflected in the Eth ETP Approval Order. However, 

the Exchange later submitted an amendment, in 

part, to rename the Eth Trust to the 21Shares Core 

Ethereum ETF. See Securities Exchange Act Release 

No. 100306 (June 10, 2024) 89 FR 50656 (June 14, 

2024) (SR–CboeBZX–2024–050) (Notice of Filing 

and Immediate Effectiveness of a Proposed Rule 

Change To Amend the ARK 21Shares Ethereum 

ETF To Amend the Trust Name and Reflect That 

the Trust Will No Longer Have a Sub-Adviser). 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

MRX–2024–36 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–MRX–2024–36. 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–MRX–2024–36 and should be 

submitted on or before October 15, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–21749 Filed 9–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101080; File No. SR– 

CboeBZX–2024–084] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend the 

ARK 21Shares Bitcoin ETF and the 

21Shares Core Ethereum ETF To Add 

Two New Custodians to Each Trust 

September 18, 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 

September 12, 2024, Cboe BZX 

Exchange, Inc. (the ‘‘Exchange’’ or 

‘‘BZX’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change as described 

in Items I and II 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 BZX Exchange, Inc. (‘‘BZX’’ or 

the ‘‘Exchange’’) is filing with the 

Securities and Exchange Commission 

(‘‘Commission’’ or ‘‘SEC’’) a proposed 

rule change to amend the ARK 21Shares 

Bitcoin ETF (the ‘‘Bitcoin Trust’’) and 

the 21Shares Core Ethereum ETF (the 

‘‘Eth Trust’’), shares of which have been 

approved by the Commission to list and 

trade on the Exchange pursuant to BZX 

Rule 14.11(e)(4), to add two new 

custodians to each trust. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://markets.cboe.com/us/ 

equities/regulation/rule_filings/bzx/), 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 Commission approved the listing 

and trading of shares (the ‘‘Bitcoin ETP 

Shares’’) of the ARK 21Shares Bitcoin 

ETF (the ‘‘Bitcoin Trust’’) on the 

Exchange pursuant to Exchange Rule 

14.11(e)(4), Commodity-Based Trust 

Shares, on January 10, 2024.3 The 

Commission also approved the listing 

and trading of shares (the ‘‘Eth ETP 

Shares’’) of the 21Shares Core Ethereum 

ETF (the ‘‘Eth Trust’’) on the Exchange 

pursuant to Exchange Rule 14.11(e)(4), 

Commodity-Based Trust Shares, on May 

23, 2024.4 Exchange Rule 14.11(e)(4) 

governs the listing and trading of 

Commodity-Based Trust Shares, which 

means a security (a) that is issued by a 

trust that holds (1) a specified 

commodity deposited with the trust, or 

(2) a specified commodity and, in 

addition to such specified commodity, 

cash; (b) that is issued by such trust in 

a specified aggregate minimum number 

in return for a deposit of a quantity of 

the underlying commodity and/or cash; 

and (c) that, when aggregated in the 

same specified minimum number, may 

be redeemed at a holder’s request by 

such trust which will deliver to the 

redeeming holder the quantity of the 

underlying commodity and/or cash. The 

Bitcoin ETP Shares are issued by the 

Bitcoin Trust and the Eth ETP Shares 

are issued by the Eth Trust. The Bitcoin 

Trust was formed as a Delaware 

statutory trust on June 22, 2021 and the 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 89, No. 185 / Tuesday, September 24, 2024 / Notices 77911 

5See Securities Exchange Act Release No. 99288 

(January 8, 2024) 89 FR 2387 (January 12, 2024) 

(SR–CboeBZX–2023–028) (Notice of Filing of 

Amendment No. 5 to a Proposed Rule Change To 

List and Trade Shares of the ARK 21Shares Bitcoin 

ETF Under BZX Rule 14.11(e)(4), Commodity-Based 

Trust Shares) (‘‘Bitcoin ETP Amendment No. 5’’). 

6The Exchange notes that the Current Custodian 

to the Eth Trust is also Coinbase Trust Company, 

LLC. 

7See Securities Exchange Act Release No. 100216 

(May 22, 2024) 89 FR 46514 (May 29, 2024) (SR– 

CboeBZX–2023–070) (Notice of Filing of 

Amendment No. 2 to a Proposed Rule Change to 

List and Trade Shares of the ARK 21Shares 

Ethereum ETF Under BZX Rule 14.11(e)(4), 

Commodity-Based Trust Shares) (‘‘Eth ETP 

Amendment No. 2’’). 

8Supra note 4. 9Supra note 4. 

10Supra note 4. 

11Supra note 4. 

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

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

14Supra note 4. 

Eth Trust was formed as a Delaware 

statutory trust on September 5, 2023. 

The Exchange proposes to amend a 

representation set forth in the 

Exchange’s previous rule filing to list 

and trade Bitcoin ETP Shares to reflect 

the addition of two new custodians that 

will provide bitcoin custody services to 

the Bitcoin Trust in addition to the 

existing custodian. Specifically, the 

Bitcoin ETP Amendment No. 5 5

represented that Coinbase Trust 

Company, LLC is the custodian (the 

‘‘Current Custodian’’) and will be 

responsible for custody of the Bitcoin 

Trust’s bitcoin. Now, the Exchange 

proposes to provide that Anchorage 

Digital Bank N.A. (‘‘Anchorage’’) and 

BitGo New York Trust Company, LLC 

(‘‘BitGo’’ and together with Anchorage, 

the ‘‘New Custodians’’ and collectively, 

with Coinbase Trust Company, LLC, the 

‘‘Custodians’’) will also provide bitcoin 

custody services to the Bitcoin Trust in 

addition to the Current Custodian. 

The Exchange similarly proposes to 

amend a representation set forth in the 

Exchange’s previous rule filings to list 

and trade the Eth ETP Shares to reflect 

that the two New Custodians will 

provide ether custody services to the 

Eth Trust in addition to the Current 

Custodian.6 Specifically, the Eth ETP 

Amendment No. 2,7 as amended,8

represented that the Current Custodian 

will be responsible for custody of the 

Eth Trust’s ether. Now, the Exchange 

proposes to provide that Anchorage and 

BitGo will provide ether custody 

services to the Eth Trust in addition to 

the Current Custodian. 

BitGo is a New York chartered trust 

companies overseen by the New York 

Department of Financial Services 

(‘‘NYDFS’’). Anchorage is a South 

Dakota chartered trust company and a 

National Bank Trust chartered by the 

Office of the Comptroller of the 

Currency. The New Custodians are 

qualified custodians under Rule 206–4 

of the Investment Adviser Act. The New 

Custodians will each custody the 

Bitcoin Trust’s bitcoin pursuant to a 

custody agreement. The new Custodians 

will each custody the Eth Trust’s ether 

pursuant to a custody agreement. Such 

custody agreements with the Bitcoin 

Trust requires the New Custodians to 

maintain the Bitcoin Trust’s bitcoin in 

segregated accounts that clearly identify 

the Bitcoin Trust as owner of the 

respective accounts and assets held on 

those accounts; the segregation will be 

both from the proprietary property of 

the New Custodians and the assets of 

any other customer. Such custody 

agreements with the Eth Trust requires 

the New Custodians to maintain the Eth 

Trust’s ether in segregated accounts that 

clearly identify the Eth Trust as owner 

of the respective accounts and assets 

held on those accounts; the segregation 

will be both from the proprietary 

property of the New Custodians and the 

assets of any other customer. Such an 

arrangement is generally deemed to be 

‘‘bankruptcy remote,’’ that is, in the 

event of an insolvency of either New 

Custodian, assets held in such 

segregated accounts would not become 

property of the New Custodian’s estate 

and would not be available to satisfy 

claims of creditors of the New 

Custodian. In addition, the New 

Custodians carry fidelity insurance, 

which covers assets held by the New 

Custodians in custody from risks such 

as theft of funds. 

Bitcoin owned by the Bitcoin Trust 

will at all times be held by, and in the 

control of, the Custodians, and transfer 

of such bitcoin to or from the 

Custodians will occur only in 

connection with creation and 

redemptions of Bitcoin ETP Shares or 

allocations among the Custodians. The 

New Custodians will be bound by all 

representations made in the Bitcoin ETP 

Amendment No. 5 applicable to the 

Current Custodian. 

Ether owned by the Eth Trust will at 

all times be held by, and in the control 

of, the Custodians, and transfer of such 

ether to or from the Custodians will 

occur only in connection with creation 

and redemptions of Eth ETP Shares or 

allocations among the Custodians. Like 

the Current Custodian, the New 

Custodians will not, directly or 

indirectly, engage in action where any 

portion of the Eth Trust’s ether becomes 

subject to the ethereum proof-of-stake 

validation or is used to earn additional 

ether or generate income or other 

earnings. The New Custodians will be 

bound by all representations made in 

Eth ETP Amendment No. 2, as 

amended,9 applicable to the Current 

Custodian. 

Except for the above changes, all other 

representations in the Bitcoin ETP 

Amendment No. 5 and Eth ETP 

Amendment No. 2, as amended,10

remain unchanged and will continue to 

constitute continuing listing 

requirements. In addition, the Bitcoin 

Trust will continue to comply with the 

terms of Bitcoin ETP Amendment No. 5 

and the Eth Trust will continue to 

comply with the terms of Eth ETP 

Amendment No. 2, as amended,11 and 

both the Bitcoin Trust and Eth Trust 

will continue to comply with the 

requirements of Rule 14.11(e)(4). 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the Act 

and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.12 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 13 requirements that the rules of 

an exchange be designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, 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 the proposed 

rule change is designed to remove 

impediments to and perfect the 

mechanism of a free and open market 

and, in general, to protect investors and 

the public interest because it would 

update a representation in Bitcoin ETP 

Amendment No. 5 regarding the 

custodian responsible for the custody of 

the Bitcoin Trust’s bitcoin to provide for 

the two New Custodians, in addition to 

the Current Custodian. Similarly, the 

proposed rule change would update a 

representation in the Eth ETP 

Amendment No. 2, as amended,14

regarding the custodian responsible for 

the custody of the Eth Trust’s ether to 

provide for the two New Custodians, in 

addition to the Current Custodian. The 

Exchange believes the addition of two 

New Custodians for both the Bitcoin 

Trust and Eth Trust would mitigate and 

diversify potential third-party service 

provider risk in the event that the 


lotter on DSK11XQN23PROD with NOTICES1
77912 Federal Register / Vol. 89, No. 185 / Tuesday, September 24, 2024 / Notices 

15Supra note 4. 

16Supra note 4. 

17 15 U.S.C. 78s(b)(3)(A)(iii). 

18 17 CFR 240.19b–4(f)(6). 

19 In addition, Rule 19b–4(f)(6) requires a selfregulatory 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. 

20 17 CFR 240.19b–4(f)(6). 

21 17 CFR 240.19b–4(f)(6)(iii). 

22See supra note 4. 

23 Id. 

24For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

Current Custodian was unable to 

provide custody services. 

Except for the addition of the two 

New Custodians for the Bitcoin Trust all 

other representations made in the 

Bitcoin ETP Amendment No. 5 remain 

unchanged and will continue to 

constitute continuing listing 

requirements for the Bitcoin Trust. The 

New Custodians will be bound by all 

representations made in the Bitcoin ETP 

Amendment No. 5 applicable to the 

Current Custodian. Similarly, except for 

the addition of the two New Custodians 

for the Eth Trust all other 

representations made in the Eth ETP 

Amendment No. 2, as amended,15

remain unchanged and will continue to 

constitute continuing listing 

requirements for the Eth Trust. The New 

Custodians will be bound by all 

representations made in the Eth ETP 

Amendment No. 2, as amended,16

applicable to the Current Custodian. 

Accordingly, the Exchange believes 

that this proposed rule change raises no 

novel regulatory issues. 

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. As noted 

above, the proposed amendment is 

intended to reflect that the two New 

Custodians will have the ability to 

custody the Bitcoin Trust’s bitcoin. 

Those two New Custodians will also 

have the ability to custody the Eth 

Trust’s ether. The Exchange believes 

these changes will not impose any 

burden on competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 17 and Rule 

19b–4(f)(6) thereunder.18 Because the 

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 

prior to 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) of the Act and Rule 19b– 

4(f)(6) thereunder.19

A proposed rule change filed under 

Rule 19b–4(f)(6) 20 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),21 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposal may become operative 

immediately upon filing. The Exchange 

states that the proposed rule change 

would reflect the addition of the two 

New Custodians for each of the Bitcoin 

Trust and the Eth Trust. The New 

Custodians will be bound by all 

representations made in the Bitcoin ETP 

Amendment No. 5 and the Eth ETP 

Amendment No. 2, as amended,22

applicable to the Current Custodian. 

The Bitcoin Trust and Eth Trust will 

continue to comply with the 

requirements of Rule 14.11(e) and, 

except for the addition of the two New 

Custodians, all other representations 

made in the Bitcoin ETP Amendment 

No. 5 and the Eth ETP Amendment No. 

2, as amended,23 remain unchanged and 

will continue to constitute continuing 

listing requirements for the Bitcoin 

Trust and the Eth Trust, as applicable. 

The Commission believes that waiver of 

the 30-day operative delay is consistent 

with the protection of investors and the 

public interest because the proposal 

does not raise any new or novel 

regulatory issues. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposal operative upon filing.24

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. 

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–2024–084 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–2024–084. 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–2024–084 and should be 

submitted on or before October 15, 

2024. 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 89, No. 185 / Tuesday, September 24, 2024 / Notices 77913 

25 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

3The previously introduced fee proposal was 

initially filed on July 1, 2024, as SR–ISE–2024–25. 

On July 15, 2024, that filing was withdrawn and 

refiled as SR–ISE–2024–32. On July 29, 2024, that 

filing was withdrawn and refiled as SR–ISE–2024– 

36. On August 12, 2024, that proposal was 

withdrawn and replaced with SR–ISE–2024–40 to 

incorporate those fees into a filing that codifies the 

definition of ISE Open/Close Trade Profile. On 

August 23, 2024, SR–ISE–2024–40 was withdrawn 

and replaced with SR–ISE–2024–43 to provide 

additional information. On September 6, 2024, SR– 

ISE–2024–43 was withdrawn and replaced with the 

instant filing to provide further information. 

4See Securities Exchange Act Release No. 77907 

(May 25, 2016), 81 FR 35079 (June 1, 2016) (SR– 

ISE–2016–14) (adopting a flat fee for the Complete 

Set of historical data); Securities Exchange Act 

Release No. 76501 (November 20, 2015), 80 FR 

74181 (November 27, 2015) (SR–ISE–2015–40) 

(offering a one month free trial to new customers); 

Securities Exchange Act Release No. 67955 (October 

1, 2012), 77 FR 61037 (October 5, 2012) (SR–ISE– 

2012–76) (adopting reduced fees for historical data 

for academic institutions); Securities Exchange Act 

Release No. 61317 (January 8, 2010), 75 FR 2915 

(January 19, 2010) (SR–ISE–2009–103) (establishing 

the current fees for the end of day and intra-day 

products); Securities Exchange Act Release No. 

60859 (October 21, 2009), 74 FR 55610 (October 28, 

2009) (SR–ISE–2009–64) (adjusting fees for 

academic institutions); Securities Exchange Act 

Release No. 60654 (September 11, 2009), 74 FR 

47848 (September 17, 2009) (SR–ISE–2009–64) 

(adjusting fees for academic institutions); Securities 

Exchange Act Release No. 56957 (December 13, 

2007), 72 FR 71988 (December 19, 2007) (SR–ISE– 

2007–115) (establishing the sale of historical data); 

Securities Exchange Act Release No. 56254 (August 

15, 2007), 72 FR 47104 (August 22, 2007) (SR–ISE– 

2007–70) (initial offering of ISE Open/Close Trade 

Profile). 

5Every options series trades as a distinct symbol; 

the terms ‘‘series’’ and ‘‘symbol’’ are therefore 

synonyms. 

6A ‘‘Priority Customer’’ is a person or entity that 

is not a broker/dealer in securities, and does not 

place more than 390 orders in listed options per day 

on average during a calendar month for its own 

beneficial account(s), as defined in Nasdaq ISE 

Options 1, Section 1(a)(37). See Options 7, Section 

1(c). 

7A ‘‘Broker-Dealer’’ order is an order submitted 

by a member for a broker-dealer account that is not 

its own proprietary account. See Options 7, Section 

1(c) 

8A ‘‘Firm Proprietary’’ order is an order 

submitted by a member for its own proprietary 

account. See Options 7, Section 1(c). 

9A ‘‘Professional Customer’’ is a person or entity 

that is not a broker/dealer and is not a Priority 

Customer. See Options 7, Section 1(c). 

10The End of Day report includes a field that 

presents Total Industry Volume for the Series. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.25

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–21752 Filed 9–23–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101096; File No. SR–ISE– 

2024–46] 

Self-Regulatory Organizations; Nasdaq 

ISE, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Codify the Definition 

of ISE Open/Close Trade Profile 

September 18, 2024. 

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 

September 6, 2024, Nasdaq ISE, LLC 

(‘‘ISE’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I and 

II 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 codify the 

definition of ISE Open/Close Trade 

Profile in the ISE rulebook. This filing 

also incorporates previously proposed 

fee changes that: (i) adjusted fees for ISE 

Open/Close End of Day and Intraday 

Trade Profile; (ii) reduced fees for 36 

months of historical data for current 

customers; and (iii) allowed unlimited 

external distribution of ISE Open/Close 

End of Day and Intraday Trade Profile 

for a fixed monthly fee. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/ise/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 purpose of the proposed rule 

change is to codify the definition of ISE 

Open/Close Trade Profile in the ISE 

rulebook. This filing also incorporates 

previously proposed fee changes that: (i) 

adjusted fees for ISE Open/Close End of 

Day and Intraday Trade Profile; (ii) 

reduced fees for 36 months of historical 

data for current customers; and (iii) 

allowed unlimited external distribution 

of ISE Open/Close End of Day and 

Intraday Trade Profile for a fixed 

monthly fee.3

ISE Open/Close Trade Profile 

ISE currently sells a market data 

offering comprised of the entire opening 

and closing trade data of ISE-listed 

options of both customers and firms, 

called the ISE Open/Close Trade 

Profile.4 This product is designed to 

provide data to subscribers regarding 

investor sentiment and trading activity. 

The ISE Open/Close Trade Profile 

provides aggregate quantity and volume 

information for trades on the Exchange 

for all series 5 during a trading session. 

Information is provided in the following 

categories: (i) total exchange volume for 

Intra-Day information and total 

exchange and industry volume for End 

of Day information for each reported 

series; (ii) open interest for the series; 

(iii) aggregate quantity of trades and 

aggregate trade volume effected to open 

a position, characterized by origin type 

(Priority Customer,6 Broker-Dealer,7

Firm Proprietary,8 and Professional 

Customer 9), and for Priority Customers 

and Professional Customers, further 

subdivided by trade size buckets; and 

(iv) aggregate quantity of trades and 

aggregate trade volume effected to close 

a position, characterized by origin type 

(Priority Customer, Broker-Dealer, Firm 

Proprietary, and Professional Customer), 

and for Priority Customers and 

Professional Customers, further 

subdivided by trade size buckets. 

ISE Open/Close Trade Profile End of 

Day also provides opening buy, closing 

buy, opening sell and closing sell 

information, which includes underlying 

close, option close, and moneyness. 

End of Day information is available 

the next business day. Intra-Day 

information is updated at 10-minute 

intervals over the course of the trading 

day. Historical information is available 

upon request. 

The ISE Open/Close Trade Profile 

provides proprietary Exchange trade 

data and does not include any intraday 

trade data from any other exchange.10

The information provided, both in End 

of Day and Intraday formats, is not a 

real-time data feed. 


lotter on DSK11XQN23PROD with NOTICES1