87924 Federal Register / Vol. 89, No. 214 / Tuesday, November 5, 2024 / Notices 

20 15 U.S.C. 78s(b)(3)(A)(ii). 

21 17 CFR 240.19b–4(f)(2). 

22 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4 15 U.S.C. 78s(b)(1). 

5 17 CFR 240.19b–4. 

6 17 CFR 240.19b–4(f)(6)(iii). 

7See IEX Rule 1.160(nn). 

8See Securities Exchange Act Release No. 101018 

(September 12, 2024), 89 FR 76526 (September 18, 

2024) (SR–IEX–2024–17) (‘‘Data Center Migration 

Filing’’). 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Exchange Act 20

and Rule 19b–4(f)(2) thereunder,21

because it establishes or changes a due, 

or fee. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend the rule change if 

it appears to the Commission that the 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or would otherwise further 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

BOX–2024–25 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–BOX–2024–25. 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–BOX–2024–25 and should be 

submitted on or before November 26, 

2024. 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.22

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–25636 Filed 11–4–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101481; File No. SR–IEX– 

2024–22] 

Self-Regulatory Organizations; 

Investors Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Modify the 

Implementation Timeline for Its 

Planned Data Center Migration, Which 

Was Set Forth in a Recent Rule Filing 

October 30, 2024 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on October 

16, 2024, the Investors Exchange LLC 

(‘‘IEX’’ 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 

Pursuant to the provisions of Section 

19(b)(1) under the Act,4 and Rule 19b– 

4 thereunder,5 the Exchange is filing 

with the Commission a proposal to 

modify the implementation timeline for 

its planned data center migration, which 

was set forth in a recent rule filing. The 

Exchange has designated this proposal 

as non-controversial and is requesting a 

waiver of the notice required by Rule 

19b–4(f)(6)(iii) under the Act.6

The text of the proposed rule change 

is available at the Exchange’s website at 

www.iextrading.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 the 

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 these statements may be examined at 

the places specified in Item IV below. 

The self-regulatory organization 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On September 4, 2024, in connection 

with IEX’s planned migration of its 

System 7 from a data center located in 

Weehawken, New Jersey to a data center 

located in Secaucus, New Jersey, IEX 

filed with the Commission an 

immediately effective proposed rule 

change.8 The Data Center Migration 

Filing provided that IEX would 

implement the data center migration 

through a phased approach over several 

weeks. The Data Center Migration Filing 

amended IEX Rules 11.190 and 11.510 

to remove references to the latency 

applicable to outbound communications 

from IEX’s System (‘‘outbound latency’’) 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 214 / Tuesday, November 5, 2024 / Notices 87925 

9See IEX Rule 1.160(qq). 

10See IEX Rule 1.160(s). 

11See IEX Rule 1.160(ll). 

12See IEX Rule 11.130(c). 

13See IEX Rule 11.130(d). 

14See IEX Rule 11.130(a). 

15See IEX Rule 11.510(b)(1). 

16See supra note 8. 

17See Securities Exchange Act Release No. 

101192 (September 25, 2024), 89 FR 79988 (October 

1, 2024) (SR–IEX–2024–18) (‘‘Updated Data Center 

Migration Filing’’). 

18 Id. 

19See IEX Trading Alert #2024—024, https://

iextrading.com/alerts/#/263; IEX Trading Alert 

#2024–027, https://iextrading.com/alerts/#/256; IEX 

Trading Alert #2024–028, https://iextrading.com/ 

alerts/#/266. 

20See IEX Trading Alert #2024–028, https://

iextrading.com/alerts/#/266. 

21See IEX Trading Alert #2024–031, https://

iextrading.com/alerts/#/269. 

22 15 U.S.C. 78f(b). 

23 15 U.S.C. 78f(b)(5). 

to its Users 9 (defined as Members 10 and 

Sponsored Participants 11), Data 

Recipients,12 and Service Bureaus 13

(collectively, ‘‘Participants’’ 14); the 

filing also added Temporary 

Supplementary Material .01 to IEX Rule 

11.510(a) to describe the minor 

temporary change in inbound latency 15

during the data center migration. The 

Data Center Migration Filing included a 

representation that IEX would issue a 

Trading Alert at least 30 days in 

advance of the migration ‘‘describing 

the transition, schedule, and impact.’’ 16

On September 18, 2024, IEX filed 

with the Commission an immediately 

effective proposed rule change that 

specified that the data center migration 

start date would be October 14, 2024, 

and also relatedly modified the advance 

notice period in the Data Center 

Migration Filing from 30 to 28 days.17

The Updated Data Center Migration 

Filing also provided that if, for an 

unforeseen reason, IEX must further 

delay the data center migration start 

date, IEX will issue an additional 

Trading Alert providing at least 10 days’ 

notice of the new start date for the 

migration.18

IEX issued several Trading Alerts 

informing market participants about the 

planned data center migration—the first 

three Trading Alerts, issued on August 

29, 2024, September 9, 2024, and 

September 16, 2024, provided relevant 

information about the data center 

migration that was scheduled to occur 

on a phased basis beginning on October 

14, 2024 and concluding on October 31, 

2024.19 The September 16, 2024 Trading 

Alert provided the requisite 28 days’ 

prior notice of the planned October 14, 

2024 migration start date.20

IEX has been conducting ongoing 

testing in preparation for the data center 

migration, and recently determined that 

it would be optimal for the full 

migration to occur on a single day, 

following robust weekend preparation, 

rather than on a phased basis over 

several weeks. IEX believes that this 

approach will streamline the data center 

migration transition and thereby reduce 

burdens on Members and market 

participants as well as reduce any 

potential risks thereto. It will also 

eliminate the temporary minor increase 

in inbound latency that would have 

been in effect during the phased 

migration, as described in the Data 

Center Migration Filing and Temporary 

Supplementary Material .01 to IEX Rule 

11.510(a). 

On October 4, 2024, IEX issued a 

fourth Trading Alert announcing that 

the migration would occur on Monday, 

October 21, 2024,21 following 

preparation over the preceding 

weekend. However, in order to provide 

time for additional testing and 

optimization, IEX now proposes to 

extend the migration date beyond 

October 21, 2024. The Exchange will 

announce the new migration date by 

Trading Alert with at least 10 days’ 

notice (consistent with the Updated 

Data Center Migration Filing). The 

Exchange plans to announce the new 

migration date as soon as possible, 

thereby providing more than 10 days’ 

notice of the scheduled migration date 

to market participants. 

For the reasons stated above, IEX also 

proposes to modify the description of 

the migration set forth in the Data 

Center Migration Filing, to clarify that 

the full data center migration will occur 

on a single day following preparation 

during the preceding weekend. Thus, 

IEX also proposes to delete Temporary 

Supplementary Material .01 to IEX Rule 

11.510(a) which describes the minor 

temporary change in inbound latency 

that would have occurred during the 

previously planned phased data center 

migration. 

2. Statutory Basis 

IEX believes that its proposal is 

consistent with the provisions of 

Section 6(b) of the Act 22 in general, and 

with Section 6(b)(5) of the Act 23, in 

particular, in that it is designed to 

promote just and equitable principles of 

trade, 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. 

Specifically, the proposal is consistent 

with the Act because it is designed to 

streamline the data center migration 

transition and thereby reduce burdens 

on Members and market participants as 

well as reduce any potential risks 

thereto, as described in the Purpose 

section, while providing appropriate 

transparency and clarity to market 

participants and the Commission 

regarding the data center migration and 

the related rule changes. 

As noted in the Data Center Migration 

Filing and Updated Data Center 

Migration Filing, Participants will not 

need to make any configuration changes 

to accommodate the reduction in IEX’s 

outbound latency set forth in the Data 

Center Migration Filing or other aspects 

of the migration. Nevertheless, IEX 

understands that Members that use 

arrival-time routing strategies may 

choose to update their routing logic to 

account for the reduction in IEX’s 

outbound latency following the 

migration. IEX believes that the notices 

already provided regarding the 

migration, combined with the pending 

Trading Alert that will provide greater 

than 10 days’ advance notice of the 

migration date, collectively provide 

sufficient notice to remove impediments 

to and perfect the mechanism of a free 

and open market and to protect 

investors and the public interest. 

Furthermore, IEX believes that the 

revised migration approach is consistent 

with the Act because it enables IEX to 

conduct an orderly migration during a 

single weekend, and thus without 

impacting normal trading. Moreover, as 

described in the Updated Data Center 

Migration Filing, IEX has already 

provided, and will continue to provide, 

market participants with sufficient time 

to fully test the data center migration 

before IEX announces the migration 

start date. Thus, this approach is 

designed to allow IEX to maintain a 

functioning market without interruption 

prior to and after the migration, which 

is consistent with the requirements of 

the Act that a rule change should 

remove impediments to and perfect the 

mechanism of a free and open market 

and protect investors. 

Finally, IEX believes that conducting 

the migration over a single weekend, 

with no transitional period while the 

Exchange is open for trading, will 

minimize any potential impact on 

Members that use arrival-time routing 

strategies, because they will no longer 

need to consider updating their routing 

logic to reflect the temporary changes to 

IEX’s inbound latencies that would have 

applied during any trading days while 

the data center migration was in 

progress. Thus, IEX believes this rule 

change is consistent with the Act, 

because it should remove impediments 

to and perfect the mechanism of a free 

and open market and protect investors. 


ddrumheller on DSK120RN23PROD with NOTICES1
87926 Federal Register / Vol. 89, No. 214 / Tuesday, November 5, 2024 / Notices 

24 15 U.S.C. 78s(b)(3)(A). 

25 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to give the Commission written notice of the selfregulatory organization’s intent to file the proposed 

rule change, along with a brief description and text 

of 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. IEX has satisfied this requirement. 

26 17 CFR 240.19b–4(f)(6). 

27 17 CFR 240.19b–4(f)(6)(iii). 

28 15 U.S.C. 78s(b)(2)(B). 29 17 CFR 200.30–3(a)(12). 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

IEX does not believe that the proposal 

will result in any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. As explained 

above, the purpose of this proposal is to 

modify the manner in which IEX will 

migrate its data center, as described in 

the Data Center Migration Filing. As 

described in the Purpose and Statutory 

Basis section, the Exchange does not 

believe that this change will place any 

burden on competition and will reduce 

burdens on Members and market 

participants. Moreover, the proposed 

change is not designed for any 

competitive purpose. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has designated this rule 

filing as non-controversial under 

Section 19(b)(3)(A) 24 of the Act and 

Rule 19b–4(f)(6) 25 thereunder. 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 

for 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. The Exchange has 

requested the Commission waive the 

five-day prefiling requirement for this 

filing to enable IEX to conduct an 

orderly migration of its data center in 

the coming weeks, while providing a 

minimum of 10 days’ notice of the 

migration date. Further, and as 

described in the Purpose and Statutory 

Basis sections, the proposal is designed 

to streamline the data center migration 

and thereby reduce burdens on 

Members and market participants as 

well as reduce any potential risks 

thereto, while providing appropriate 

transparency and clarity to market 

participants and the Commission 

regarding the data center migration and 

the related rule changes. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 26 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),27 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 to enable the proposed 

rule change to become operative upon 

filing. Waiving the 30-day delay in this 

manner would permit the Exchange to 

implement the proposed rule change 

during the weekend prior to the 

migration date, and thus without 

impacting normal trading. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 28 of the Act 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– 

IEX–2024–22 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–IEX–2024–22. 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–IEX–2024–22 and should be 

submitted on or before November 26, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.29

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–25637 Filed 11–4–24; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice: 12573] 

Determination Under Section 7012 of 

the Department of State, Foreign 

Operations, and Related Programs 

Appropriations Act, 2024 Relating to 

Assistance to Zimbabwe 

Pursuant to the authority vested in me 

by section 7012 of the Department of 

State, Foreign Operations, and Related 

Programs Appropriations Act, 2024 

(Div. F, Pub. L. 118–47) (SFOAA); 

Executive Order 12163, as amended by 

Executive Order 13346; and Delegation 

of Authority 513, 1 hereby determine 

that targeted assistance to Zimbabwe in 

the areas of health, good governance and 

respect for human rights, education, 

leadership, agriculture/food security, 


ddrumheller on DSK120RN23PROD with NOTICES1