Federal Register / Vol. 89, No. 212 / Friday, November 1, 2024 / Notices 87441 

15See Securities Exchange Act Release No. 99182 

(December 14, 2023), 88 FR 88173 (December 20, 

2023) (SR–CboeBZX–2023–093) and Securities 

Exchange Act Release No. 100330 June 13, 2024), 

89 FR 51931 (June 20, 2024) (SR–CboeBZX–2024– 

048). 

16 15 U.S.C. 78s(b)(3)(A). 

17 17 CFR 240.19b–4(f). 18 17 CFR 200.30–3(a)(12). 

Depth Reports. Further, the proposed 

discount is intended to promote 

increased use of the Exchange’s 

Historical Depth Reports by defraying 

some of the costs a purchaser would 

ordinarily have to expend before using 

the data product. The Exchange believes 

that the proposed discount is equitable 

and not unfairly discriminatory because 

it will apply equally to all Members and 

non-Members who purchase Historical 

Depth Reports. Lastly, the purchase of 

this data product is discretionary and 

not compulsory. Indeed, no market 

participant is required to purchase the 

Historical Depth Reports, and the 

Exchange is not required to make 

Historical Depth Reports available to all 

investors. Potential purchasers may 

request the data at any time if they 

believe it to be valuable or may decline 

to purchase such data. As noted above, 

the Exchange previously adopted 

similar discount programs for other 

historical data products offered by the 

Exchange.15

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 operates in a highly 

competitive environment in which the 

Exchange must continually adjust its 

fees to remain competitive. Because 

competitors are free to modify their own 

fees in response, including the adoption 

of similar discounts to those fees, the 

Exchange believes that the degree to 

which fee changes (including discounts 

and rebates) in this market may impose 

any burden on competition is extremely 

limited. As discussed above, the 

Exchange’s Historical Depth Reports 

offering is subject to direct competition 

from several other options exchanges 

that offer similar data products. 

Moreover, purchase of Historical Depth 

Reports is optional. It is designed to 

help investors understand underlying 

market trends to improve the quality of 

investment decisions, but is not 

necessary to execute a trade. 

The proposed rule changes are 

grounded in the Exchange’s efforts to 

compete more effectively. In this 

competitive environment, potential 

purchasers are free to choose which, if 

any, similar product to purchase to 

satisfy their need for market 

information. As a result, the Exchange 

believes this proposed rule change 

permits fair competition among national 

securities exchanges. Further, the 

Exchange believes that these changes 

will not cause any unnecessary or 

inappropriate burden on intermarket 

competition, as the proposed incentive 

program applies uniformly to any 

purchaser of Historical Depth Reports. 

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 foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 16 and paragraph (f) of Rule 

19b–4 17 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 will institute proceedings 

to determine whether the proposed rule 

change 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– 

CboeBZX–2024–103 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–2024–103. 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–2024–103 and should be 

submitted on or before November 22, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–25428 Filed 10–31–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101454; File No. SR–FICC– 

2024–007] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Filing of Partial Amendment No. 1 to 

Proposed Rule Change To Modify the 

GSD Rules (i) Regarding the Separate 

Calculation, Collection and Holding of 

Margin for Proprietary Transactions 

and That for Indirect Participant 

Transactions, and (ii) To Address the 

Conditions of Note H to Rule 15c3–3a 

October 28, 2024. 

On March 14, 2024, Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 


khammond on DSKJM1Z7X2PROD with NOTICES
87442 Federal Register / Vol. 89, No. 212 / Friday, November 1, 2024 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 99149 

(Dec. 13, 2023), 89 FR 2714 (Jan. 16, 2024) (S7–23– 

22) (‘‘Adopting Release,’’ and the rules adopted 

therein as ‘‘Treasury Clearing Rules’’). See also 17 

CFR 240.15c3–3a. 4Securities Exchange Act Release No. 99844 

(March 22, 2024), 89 FR 21603 (Mar. 28, 2024) (File 

No. SR–FICC–2024–007) (‘‘Notice of Filing’’). FICC 

also filed a related 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 

and Rule 19b–4(n)(1)(i) under the Exchange Act. 12 

U.S.C. 5465(e)(1). 15 U.S.C. 78s(b)(1) and 17 CFR 

240.19b–4, respectively. The Advance Notice was 

published in the Federal Register on March 28, 

2024. Securities Exchange Act Release No. 99845 

(Mar. 22, 2024), 89 FR 21586 (Mar. 28, 2024) (File 

No. SR–FICC–2024–802). 

5Comments on the Proposed Rule Change are 

available at https://www.sec.gov/comments/sr-ficc2024-007/srficc2024007.htm. Comments on the 

Advance Notice are available at https://

www.sec.gov/comments/sr-ficc-2024-802/ 

srficc2024802.htm. Because the proposals 

contained in the Proposed Rule Change and the 

Advance Notice are the same, the Commission 

considers all comments received on the proposal, 

regardless of whether the comments are submitted 

with respect to the Advance Notice or the Proposed 

Rule Change. 

6See Letter from Laura Klimpel, Managing 

Director, Head of Fixed Income and Financing 

Solutions, Depository Trust & Clearing Corporation, 

(Aug. 1, 2024) (‘‘FICC Letter’’). 

7 15 U.S.C. 78s(b)(2). 

8Securities Exchange Act Release No. 100022 

(Apr. 24, 2024), 89 FR 34289 (Apr. 30, 2024) (File 

No. SR–FICC–2024–007). 

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

10Securities Exchange Act Release No. 100401 

(Jun. 21, 2024), 89 FR 53690 (Jun. 27, 2024) (File 

No. SR–FICC–2024–007). 

11Securities Exchange Act Release No. 101082 

(Sep. 18, 2024), 89 FR 77949 (Sep. 24, 2024) (File 

No. SR–FICC–2024–007). 

12Text of the proposed changes made by the 

Partial Amendment No. 1 to the Proposed Rule 

Change is available at https://www.sec.gov/rulesregulations/self-regulatory-organizationrulemaking. The GSD Rules are available at https:// 

www.dtcc.com/∼/media/Files/Downloads/legal/ 

rules/ficc_gov_rules.pdf. Terms not otherwise 

defined herein are defined in the GSD Rules or in 

the Proposed Rule Change. 

13 15 U.S.C. 78s(b)(1). 

14 17 CFR 240.19b–4. 15Notice of Filing supra note 4. 

Commission (‘‘Commission’’) the 

proposed rule change SR–FICC–2024– 

007 pursuant to Section 19(b) of the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) 1 and Rule 19b–4 2

thereunder to modify FICC’s 

Government Securities Division 

(‘‘GSD’’) Rulebook (‘‘GSD Rules’’) to 

calculate, collect, and hold margin for 

proprietary transactions of a direct 

participant separately from margin 

submitted to FICC by a direct 

participant on behalf of indirect 

participants and to address conditions 

of Note H to Rule 15c3–3a under the 

Exchange Act (the ‘‘Proposed Rule 

Change’’).3 The Proposed Rule Change 

was published for public comment in 

the Federal Register on March 28, 

2024.4 The Commission has received 

comments regarding the substance of 

the Proposed Rule Change.5 The 

Commission also received a letter from 

FICC responding to the comments.6

On April 24, 2024, pursuant to 

Section 19(b)(2) of the Exchange Act,7

the Commission designated a longer 

period within which to approve, 

disapprove, or institute proceedings to 

determine whether to approve or 

disapprove the Proposed Rule Change.8

On June 21, 2024, pursuant to Section 

19(b)(2)(B) of the Exchange Act,9 the 

Commission instituted proceedings to 

determine whether to approve or 

disapprove the Proposed Rule Change.10

On September 18, 2024, the 

Commission extended the time period 

for Commission action on the 

proceedings to determine whether to 

disapprove the Proposed Rule Change.11

On October 25, 2024, FICC filed 

Partial Amendment No. 1 to the 

Proposed Rule Change.12 Pursuant to 

Section 19(b)(1) of the Act 13 and Rule 

19b–4 thereunder,14 the Commission is 

publishing notice of this Partial 

Amendment No.1 to the Proposed Rule 

Change as described in Item I below. 

The Commission is publishing this 

notice to solicit comments on Partial 

Amendment No. 1 from interested 

persons. 

I. Summary of the Terms of Substance 

of Partial Amendment No. 1 to the 

Proposed Rule Change 

FICC filed Partial Amendment No. 1 

to its previously submitted Proposed 

Rule Change, which would make several 

changes to FICC’s GSD Rules to (1) 

provide for FICC to calculate, collect, 

and hold margin for the proprietary 

transactions of a Netting Member 

separately and independently from the 

margin for transactions that the Netting 

Member submits to FICC on behalf of 

indirect participants; (2) simplify and 

revise the account types through which 

Members may record transactions at 

FICC and adopt a new Rule 2B to 

provide clearer public disclosures 

through the Rules regarding the GSD 

account structure; (3) allow Netting 

Members to elect for margin for indirect 

participant transactions to be calculated 

on a gross basis (i.e., an indirect 

participant-by-indirect participant basis) 

and legally segregated from the margin 

for the Netting Member’s proprietary 

transactions (as well as those of other 

indirect participants); (4) align FICC’s 

margin calculation methodology with 

the expanded account types and 

enhance public disclosure through the 

Rules of that calculation methodology; 

and (5) simplify the requirements for 

brokered transactions so that they only 

apply to transactions executed by an 

Inter-Dealer Broker Netting Member on 

the trading platform offered by that 

Inter-Dealer Broker Netting Member. 

Regarding the changes described in 

(3) above, Partial Amendment No. 1 

makes several changes to the 

requirements regarding Segregated 

Customer Margin. First, as originally 

proposed, the Proposed Rule Change 

requires FICC to establish and maintain 

on its books and records a Segregated 

Customer Margin Custody Account 

corresponding to each Segregated 

Indirect Participants Account.15 Partial 

Amendment No. 1 deletes and replaces 

language in Rule 4, Section 1a, requiring 

Segregated Customer Margin credited to 

a Segregated Customer Margin Custody 

Account to be used exclusively to settle 

and margin Transactions in U.S. 

Treasury securities recorded in the 

corresponding Segregated Indirect 

Participants Account, with language 

requiring Segregated Customer Margin 

credited to a Segregated Customer 

Margin Custody Account to secure 

Transactions recorded in the 

corresponding Segregated Indirect 

Participants Account and satisfy 

payment and delivery obligations 

owning to the Corporation (including 

liquidating or otherwise using such 

Segregated Customer Margin to obtain 

relevant cash or securities) in 

connection with a default in respect of 

such Transactions. 

Similarly, Partial Amendment No. 1 

deletes and replaces language in Rule 4, 

Section 5 regarding the use of Clearing 

Fund and Segregated Customer Margin 

requiring FICC to only use the portion 

of Segregated Customer Margin that 

supports each Segregated Indirect 

Participant’s Transactions. The 

Proposed Rule Change stated that FICC 

could use that portion to secure or settle 

the obligations of that Segregated 

Indirect Participant, and of the 

Sponsoring Member or Agent Clearing 

Member with respect to the obligations 

of that Segregated Indirect Participant, 

whereas Partial Amendment No. 1 

replaces this language to state that FICC 

may only use that portion of Segregated 

Customer Margin to secure the 

Transactions of that Segregated Indirect 

Participant recorded in the 

corresponding Segregated Indirect 

Participants Account and satisfy 

payment and delivery obligations owing 

to FICC (including liquidating or 

otherwise using such Segregated 

Customer Margin to obtain relevant cash 

or securities) in connection with a 

default in respect of such Transactions. 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 89, No. 212 / Friday, November 1, 2024 / Notices 87443 

16 Id. 

17 Id. 

18 15 U.S.C. 80a–1 et seq. 

19Notice of Filing, supra note 4. 

20 Id. 

21 Id. 

22 Id. 

23 Id. 

24Securities Exchange Act Release No. 99817 

(March 21, 2024), 89 FR 21362 (March 27, 2024) 

(File No. SR–FICC–2024–005). 

Additionally, Partial Amendment No 1. 

clarifies language in that portion of Rule 

4 regarding FICC’s prohibition on using 

Segregated Customer Margin from one 

Segregated Indirect Participant’s 

Transactions to secure or settle another 

Segregated Indirect Participant’s 

Transaction by deleting reference to the 

term ‘‘settle’’ and replacing with 

satisfying payment or delivery 

obligations in connection with another 

Segregated Indirect Participant’s 

Transaction. 

Second, as originally proposed, the 

Proposed Rule Change requires FICC to 

hold all Segregated Customer Margin in 

an account at a bank within the meaning 

of the Exchange Act that is insured by 

the Federal Deposit Insurance 

Corporation or at the Federal Reserve 

Bank of New York, which account shall 

be segregated from any other account of 

the Corporation and used exclusively to 

hold Segregated Customer Margin.16

Additionally, the Proposed Rule Change 

requires Segregated Customer Margin to 

be subject to a written notice of the bank 

or Federal Reserve Bank provided to 

and retained by the Corporation that the 

Segregated Customer Margin in the 

account is being held by the bank or 

Federal Reserve Bank pursuant to SEC 

Rule 15c3–3 and is being kept separate 

from any other accounts maintained by 

the Corporation or any other person at 

the bank or Federal Reserve Bank.17

Partial Amendment No. 1 revises the 

Proposed Rule Change to insert text that 

clarifies that FICC shall not only hold 

Segregated Customer Margin in an 

account of FICC at a bank within the 

meaning of the Exchange Act that is 

insured by the Federal Deposit 

Insurance Corporation, but shall also 

hold Segregated Customer Margin in an 

account at a bank that is also a qualified 

custodian under the Investment 

Company Act of 1940,18 as amended.19

Additionally, the Proposed Rule Change 

inserts text that clarifies that not only is 

each account holding Segregated 

Customer Margin being held by a bank 

or Federal Reserve Bank pursuant to 

SEC Rule 15c3–3 is being kept separate 

from any other accounts maintained by 

FICC or any other person at the bank or 

Federal Reserve Bank, but also requires 

these accounts to not be commingled 

with any other accounts maintained by 

FICC or any other persona at the bank 

or Federal Reserve Bank. 

Third, as originally proposed, the 

Proposed Rule Change requires any 

interest earned on Segregated Customer 

Margin to be paid by FICC to the Netting 

Member.20 Partial Amendment No. 1 

inserts language to clarify that any 

interest earned on Segregated Customer 

Margin consisting of cash shall be paid 

to the Netting Member for the benefit of, 

and as agent for, its Segregated Indirect 

Participants. 

Fourth, as originally proposed, the 

Proposed Rule Change would apply 

three requirements to each Segregated 

Customer Margin Requirement for a 

particular Segregated Indirect 

Participants Account: (1) A minimum of 

40 percent of the Segregated Customer 

Margin Requirement for such Account 

shall be satisfied with cash and/or 

Eligible Clearing Fund Treasury 

Securities; (2) the lesser of $5,000,000 or 

10 percent of the Segregated Customer 

Margin Requirement for the Account 

must be made and maintained in cash; 

and (3) a minimum of the product of $1 

million and the number of Segregated 

Indirect Participants whose 

Transactions are recorded in such 

Segregated Indirect Participants 

Account must be made and maintained 

in cash.21 Partial Amendment No. 1 

would revise the Proposed Rule Change 

by deleting the second requirement 

regarding the lesser of $5,000,000 or 10 

percent of the Segregated Customer 

Margin Requirement for the Account 

must be made and maintained in cash. 

Fifth, as originally proposed, FICC 

had the discretion to retain some or all 

of the Excess Segregated Customer 

Margin if the Member had an 

outstanding payment or margin 

obligation to FICC with respect to the 

Transactions of any Segregated Indirect 

Participant.22 Partial Amendment No. 1 

would revise the Proposed Rule Change 

by adding text that clarifies the FICC 

shall not retain the Excess Segregated 

Customer Margin with respect to the 

Transactions of a Segregated Indirect 

Participant when they have determined, 

in their sole discretion, that such 

outstanding payment or margin 

obligation is unrelated to the 

Transactions of that Segregated Indirect 

Participant. 

Sixth, Partial Amendment No. 1 

would make the following change to the 

Margin Component Schedule in the 

Proposed Rule Change regarding 

Segregated Customer Margin 

Requirement Calculations.23 As 

originally proposed, each Segregated 

Indirect Participant would be required 

to deposit in the Segregated Indirect 

Participants Account Required Fund 

Deposit the greater of the (i) the sum of 

the Unadjusted GSD Margin Portfolio 

Amount and all applicable additional 

charges; and (ii) a minimum charge of 

$1 million. Partial Amendment No. 1 

would revise the Proposed Rule Change 

by inserting text to clarify that FICC 

may, in its sole discretion, adjust the 

minimum charge of $1 million in the 

Segregated Indirect Participants 

Account Required Fund Deposit if FICC 

determines that a different minimum 

charge would be appropriate and 

consistent with achieving its backtesting 

coverage target and that Members would 

be notified of any such adjustment by an 

Important Notice. 

Seventh, Partial Amendment No. 1 

would add text to Rule 3A, Section 3, 

as proposed to be amended by SR– 

FICC–2024–005,24 to state that a 

Sponsored Member may be a series of a 

limited liability company, statutory 

trust, or other legal entity. 

Regarding the changes described in 

(4) above, Partial Amendment No. 1 

would add language to clarify how the 

definition of Current Net Settlement 

Position relates to Sponsored GC Trades 

and that the definition does not refer to 

calculating the Net Settlement Position 

under Rule 11. As originally proposed, 

the definition stated that, if a Current 

Net Settlement Position recorded in a 

Sponsoring Member Omnibus Account 

or Segregated Indirect Participants 

Account is not clearly allocable to an 

individual Sponsored Member or 

Segregated Indirect Participant, 

including because one or more 

transactions recorded in the Account 

did not settle on its original Scheduled 

Settlement Date, then, for purposes of 

calculating the relevant Netting 

Member’s Sponsoring Member Omnibus 

Account Required Fund Deposit or 

Segregated Customer Margin 

Requirement for such Account, FICC 

shall allocate the positions in the 

manner specified. In Partial 

Amendment No. 1, the definition states 

if a Current Net Settlement Position 

recorded in a Sponsoring Member 

Omnibus Account or Segregated 

Indirect Participants Account is not 

clearly allocable to an individual 

Sponsored Member or Segregated 

Indirect Participant, including because 

one or more transactions (other than 

Sponsored GC Trades) recorded in the 

Account did not settle on its original 

Scheduled Settlement Date (such failure 

to settle would not occur with respect 

to Sponsored GC Trades), then, for 

purposes of calculating the relevant 


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87444 Federal Register / Vol. 89, No. 212 / Friday, November 1, 2024 / Notices 

25Partial Amendment No. 1 would also amend 

the definition of Netting Member Capital to use the 

defined terms Net Assets and Equity Capital. 

26 17 CFR 200.30–3(a)(31). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

Netting Member’s Sponsoring Member 

Omnibus Account Required Fund 

Deposit or Segregated Customer Margin 

Requirement for such Account and not 

for purposes of calculating the Net 

Settlement Position under Rule 11, FICC 

shall allocate the positions in the 

manner specified.25

Regarding the changes described in 

(5) above, Partial Amendment No. 1 

makes several changes to the Proposed 

Rule Change and existing rules 

regarding the use of the term Brokered 

Transactions, including changes to its 

definition. Specifically, Partial 

Amendment No. 1 would delete and 

add text to the definition of Brokered 

Transaction to clarify that a Brokered 

Transaction means the side of a 

transaction, including a Repo 

Transaction, that is submitted to the 

Corporation for Novation by an InterDealer Broker Netting Member calling 

for the delivery of an Eligible Netting 

Security, or the posting of cash or an 

Eligible Netting Security as collateral, 

that such Inter-Dealer Broker Netting 

Member enters into with another 

Netting Member or a Sponsored Member 

or Executing Firm Customer through the 

Inter-Dealer Broker Netting Member’s 

own trading platform. As initially 

proposed, the definition of Brokered 

Transaction referred only to any 

transaction, including a Repo 

Transaction, calling for the delivery of 

an Eligible Netting Security, or the 

posting of cash or an Eligible Netting 

Security as collateral. 

Partial Amendment No. 1 also revises 

text proposed in SR–FICC–2024–005 

regarding the treatment of Agent 

Clearing Transactions and deletes 

reference to the term Brokered 

Transactions, such that Brokered 

Transactions would not be excluded 

from being an Agent Clearing 

Transaction. 

Additionally, Partial Amendment No. 

1 makes the following changes to delete 

references to the term Brokered 

Transactions: (i) amends text from the 

Proposed Rule Change regarding Rule 1, 

to remove the term Brokered 

Transactions from the definition of 

Dealer Account; (ii) revises Rule 4, 

Section 7 regarding loss allocation for 

Inter-Dealer Broker Netting Members, to 

replace a reference to a Segregated Repo 

Account, with a reference to a Broker 

Account, and to remove a reference to 

a Non-IDB Repo Broker, as the Proposed 

Rule Change deletes the use of that term 

from the Rules; and (iii) amends existing 

Rule 3A Section 5 regarding Sponsored 

Member Trades and deletes reference to 

the term Brokered Transactions, such 

that the text now states that Sponsored 

Member Trades (other than Sponsored 

GC Trades) may be any type of 

transaction eligible for submission to 

FICC for netting with the exception of 

Netting Eligible Auction Purchases and 

GCF Repo Transactions. 

Finally, Partial Amendment No. 1 

makes several technical and conforming 

changes throughout the Proposed Rule 

Change, such as renumbering section 

numbers to reflect the addition of new 

sections. 

Partial Amendment No. 1 would not 

change the purpose of, or statutory basis 

for the proposed rule change. All other 

representations in the Proposed Rule 

Change remain as stated therein and no 

other changes are being made. 

II. 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-regulations/self-regulatoryorganization-rulemaking); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

FICC–2024–007 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549. 

All submissions should refer to File 

Number SR–FICC–2024–007. 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-regulations/self-regulatoryorganization-rulemaking). 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 

10:00 a.m. and 3:00 p.m. Copies of such 

filing also will be available for 

inspection and copying at the principal 

office of FICC and on DTCC’s website at 

(https://dtcc.com/legal/sec-rulefilings.aspx). 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–FICC–2024–007 and should 

be submitted on or before November 18, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.26

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–25429 Filed 10–31–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101452; File No. SR– 

NYSEAMER–2024–62] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Modify Rule 971.2NYP 

October 28, 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 October 

22, 2024, NYSE American LLC (‘‘NYSE 

American’’ 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 modify 

Rule 971.2NYP regarding the Customer 

Best Execution Auction for Complex 

Orders. The proposed rule change is 

available on the Exchange’s website at 


khammond on DSKJM1Z7X2PROD with NOTICES