Federal Register / Vol. 89, No. 237 / Tuesday, December 10, 2024 / Notices 99319 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its 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. The Exchange 

has satisfied this requirement. 

9 17 CFR 240.19b–4(f0(6). 

10 17 CFR 240.19b–4(f)(6)(iii). 

11For purposes only of waiver the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 12 15 U.S.C. 78s(b)(2)(B). 13 17 CFR 200.30–3(a)(12), (59). 

proposed rule change has become 

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

of the Act 7 and Rule 19b–4(f)(6)(iii) 

thereunder.8

A proposed rule change filed under 

Rule 19b–4(f)(6) 9 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),10 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 proposed 

rule change may become operative 

immediately upon filing. The Exchange 

states that it operates in a highly 

competitive environment and is 

launching a technology change that 

includes the improvement described in 

its proposed rule change on December 7, 

2024. Since that December 7, 2024 date 

is imminent, the Exchange requests 

waiver of the 30-day operative delay 

with respect to this proposed rule 

change. 

The Commission believes that waiver 

of the operative delay is consistent with 

the protection of investors and the 

public interest. The Exchange states that 

the proposed rule change would 

enhance competition because it would 

potentially enhance the performance of 

its order handling and execution of 

orders in equity securities by receiving 

market data directly from IEX. In 

addition, a waiver of the operative delay 

will allow the Exchange to promptly 

implement the proposed rule change 

with other technology changes that are 

scheduled to be implemented on 

December 7, 2024. Accordingly, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposed rule change operative upon 

filing.11

At any time within 60 days of the 

filing of such 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) 12 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– 

NYSEARCA–2024–106 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to file 

number SR–NYSEARCA–2024–106. 

This file number should be included on 

the subject line if email is used. To help 

the Commission process and review 

your comments more efficiently, please 

use only one method. The Commission 

will post all comments on the 

Commission’s internet website (https:// 

www.sec.gov/rules/sro.shtml). Copies of 

the submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NYSEARCA–2024–106 and should 

be submitted on or before December 31, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–28896 Filed 12–9–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–135, OMB Control No. 

3235–0175] 

Proposed Collection; Comment 

Request; Extension: Form N–8A 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission (the 

‘‘Commission’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management and Budget (‘‘OMB’’) for 

extension and approval. 

The Investment Company Act of 1940 

(‘‘Investment Company Act’’) (15 U.S.C. 

80a–1 et seq.) requires investment 

companies to register with the 

Commission before they conduct any 

business in interstate commerce. 

Section 8(a) of the Investment Company 

Act provides that an investment 

company shall be deemed to be 

registered upon receipt by the 

Commission of a notification of 

registration in such form as the 

Commission prescribes. Form N–8A (17 

CFR 274.10) is the form for notification 

of registration that the Commission has 

adopted under section 8(a). The purpose 

of such notification of registration 

provided on Form N–8A is to notify the 

Commission of the existence of 

investment companies required to be 

registered under the Investment 

Company Act and to enable the 

Commission to administer the 

provisions of the Investment Company 

Act with respect to those companies. 

After an investment company has filed 

its notification of registration under 


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99320 Federal Register / Vol. 89, No. 237 / Tuesday, December 10, 2024 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 101471 

(October 29, 2024), 89 FR 87675 (‘‘Notice’’). 

4See id. at 87675. 

5All broker-dealer algorithms to which Directed 

Orders can be routed will operate on the brokerdealers’ respective systems, not on Exchange 

systems. The Exchange represents that it does not 

currently have and will not enter into any financial 

or other arrangements with any algorithm provider 

with respect to the proposed Directed Orders. The 

member organization initiating a Directed Order to 

an algorithm has ultimate responsibility for any 

transaction fees associated with the execution of 

that order. The Exchange states that it may facilitate 

the process by which such fees are passed through 

from the algorithm providers to the member 

organizations utilizing Directed Orders, but will not 

determine, subsidize, or benefit from any such fees. 

Subject to approval and implementation of this 

proposed rule change, the Exchange states that it 

intends to adopt a routing fee for Directed Orders 

to an algorithm, similar to the existing routing fee 

for Directed Orders to an ATS. See New York Stock 

Exchange Price List 2024, available at https://

www.nyse.com/publicdocs/nyse/markets/nyse/ 

NYSE_Price_List.pdf (providing for Routing Fee for 

Directed Order to OneChronos LLC). See Notice, 

supra note 3, 89 FR 87675. 

section 8(a), the company is then subject 

to the provisions of the Investment 

Company Act which govern certain 

aspects of its organization and activities, 

such as the composition of its board of 

directors and the issuance of senior 

securities. Form N–8A requires an 

investment company to provide its 

name, state of organization, form of 

organization, classification, the name 

and address of each investment adviser 

of the investment company, the current 

value of its total assets, and certain 

other information readily available to 

the investment company. If the 

investment company is filing a 

registration statement as required by 

Section 8(b) of the Investment Company 

Act concurrently with its notification of 

registration, Form N–8A requires only 

that the registrant file the cover page 

(giving its name, address, and agent for 

service of process) and sign the form in 

order to effect registration. 

Based on recent filings of notifications 

of registration on Form N–8A, we 

estimate that about 99 investment 

companies file such notifications each 

year. An investment company must only 

file a notification of registration on 

Form N–8A once. The currently 

approved average hour burden per 

investment company of preparing and 

filing a notification of registration on 

Form N–8A is one hour. Based on the 

Commission staff’s experience with the 

requirements of Form N–8A and with 

disclosure documents generally—and 

considering that investment companies 

that are filing notifications of 

registration on Form N–8A 

simultaneously with the registration 

statement under the Investment 

Company Act are only required by Form 

N–8A to file a signed cover page—we 

continue to believe that this estimate is 

appropriate. Therefore, we estimate that 

the total annual hour burden to prepare 

and file notifications of registration on 

Form N–8A is 99 hours. The currently 

approved cost burden of Form N–8A is 

$496. We are updating the estimated 

costs burden to $562 to account for the 

effects of inflation. Therefore, we 

estimate that the total annual cost 

burden associated with preparing and 

filing notifications of registration on 

Form N–8A is about $55,638. 

Estimates of average burden hours 

and costs are made solely for the 

purposes of the Paperwork Reduction 

Act, and are not derived from a 

comprehensive or even representative 

survey or study of the costs of 

Commission rules and forms. 

Compliance with the collection of 

information requirements of Form N–8A 

is mandatory. Responses to the 

collection of information will not be 

kept confidential. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, a collection of 

information unless it displays a 

currently valid OMB control number. 

Written comments are invited on: (a) 

whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimate of the burden of the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

by February 10, 2025. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: Austin Gerig, Director/Chief Data 

Officer, Securities and Exchange 

Commission, c/o Tanya Ruttenberg, 100 

F Street NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. 

Dated: December 4, 2024. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–28875 Filed 12–9–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101812; File No. SR–NYSE– 

2024–67] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Approving a Proposed Rule Change To 

Amend NYSE Rule 7.31(f)(1) 

December 4, 2024. 

I. Introduction 

On October 24, 2024, New York Stock 

Exchange LLC (the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to amend NYSE Rule 7.31(f)(1). 

The proposed rule change was 

published for comment in the Federal 

Register on November 4, 2024.3 The 

Commission has received no comment 

letters on the proposed rule change. 

This order approves the proposed rule 

change. 

II. Description of the Proposal 

The Exchange has proposed to amend 

NYSE Rule 7.31(f)(1) regarding Directed 

Orders. NYSE Rule 7.31(f)(1) currently 

defines a Directed Order as a Limit 

Order with instructions to route on 

arrival at its limit price to a specified 

alternative trading system (‘‘ATS’’) with 

which the Exchange maintains an 

electronic linkage. According to the 

Exchange, Directed Orders are available 

for all securities eligible to trade on the 

Exchange, are not assigned a working 

time, and do not interact with interest 

on the Exchange Book.4 NYSE Rule 

7.31(f)(1) further provides that the ATS 

to which a Directed Order is routed is 

responsible for validating whether the 

order is eligible to be accepted, and if 

that ATS determines to reject the order, 

the order would be canceled. 

The Exchange has proposed to amend 

NYSE Rule 7.31(f)(1) to provide for 

Directed Orders to be routed to a brokerdealer algorithm for execution. 

Specifically, the Exchange has proposed 

to permit Directed Orders to be 

designated by the entering member 

organization to route to a broker-dealer 

algorithm selected from of a set of 

broker-dealer algorithms with which the 

Exchange has established connectivity. 

The Exchange proposes to route 

Directed Orders only to a range of 

broker-dealer algorithms that have 

completed its onboarding process and 

established routing connectivity with 

the Exchange.5 The Exchange represents 

that any FINRA-registered brokerVerDate Sep<11>2014 17:28 Dec 09, 2024 Jkt 265001 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 E:\FR\FM\10DEN1.SGM 10DEN1

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