102214 Federal Register / Vol. 89, No. 242 / Tuesday, December 17, 2024 / Notices 

23 17 CFR 200.30–3(a)(12). 

segregation of cash deposits to the 

NSCC, GSD and MBSD Clearing Funds, 

and the DTC Participants Fund. The 

proposed changes would specify in this 

section that Indirect Participants 

Clearing Fund Deposits shall be held 

separately and independently on FICC’s 

books and records from all other 

deposits to the GSD Clearing Fund. 

Together with the changes to be 

implemented to the GSD Rules pursuant 

to the Account Segregation Filing, the 

proposed changes to the Policy would 

support FICC’s compliance with the 

requirements of Rule 17ad–22(e)(6)(i) by 

providing that Indirect Participants 

Clearing Fund Deposits shall be held 

separately and independently from 

margin held for GSD Netting Members’ 

proprietary activity. 

(B) Clearing Agency’s Statement on 

Burden on Competition 

The Clearing Agencies believe that the 

proposed revisions to the Investment 

Policy would not have any impact, or 

impose any burden, on competition. 

The Investment Policy applies equally 

to allowable investments of Clearing 

Fund and Participants Fund deposits, as 

applicable, of each member of the 

Clearing Agencies, and establishes a 

uniform policy at the Clearing Agencies. 

The proposed changes to the Investment 

Policy would not effect any changes on 

the fundamental purpose or operation of 

this document and, as such, would also 

not have any impact, or impose any 

burden, on competition. 

The Clearing Agencies do not believe 

the proposed rule changes to make 

clean-up changes to the Policy would 

impact competition. These changes 

would ensure the clarity and accuracy 

of the descriptions in the Policy and 

would not affect participants’ rights and 

obligations. As such, the Clearing 

Agencies believe the proposed clean-up 

changes would not have any impact on 

competition. 

(C) Clearing Agency’s Statement on 

Comments on the Proposed Rule 

Change Received From Members, 

Participants, or Others 

The Clearing Agencies have not 

received or solicited any written 

comments relating to this proposal. If 

any written comments are received, they 

will be publicly filed as an Exhibit 2 to 

this filing, as required by Form 19b–4 

and the General Instructions thereto. 

Persons submitting comments are 

cautioned that, according to Section IV 

(Solicitation of Comments) of the 

Exhibit 1A in the General Instructions to 

Form 19b–4, the Commission does not 

edit personal identifying information 

from comment submissions. 

Commenters should submit only 

information that they wish to make 

available publicly, including their 

name, email address, and any other 

identifying information. 

All prospective commenters should 

follow the Commission’s instructions on 

how to submit comments, available at 

www.sec.gov/regulatory-actions/how-tosubmit-comments. General questions 

regarding the rule filing process or 

logistical questions regarding this filing 

should be directed to the Main Office of 

the Commission’s Division of Trading 

and Markets at tradingandmarkets@

sec.gov or 202–551–5777. 

The Clearing Agencies reserve the 

right not to respond to any comments 

received. 

III. Date of Effectiveness of the 

Proposed Rule Change, and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) by order approve or disapprove 

such proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be 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-regulations/self-regulatoryorganization-rulemaking); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NSCC–2024–010 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–NSCC–2024–010. 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 

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

will be available for inspection and 

copying at the principal office of NSCC 

and on DTCC’s website (www.dtcc.com/ 

legal/sec-rule-filings). 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–NSCC–2024–010 

and should be submitted on or before 

January 7, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–29631 Filed 12–16–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101884; File No. 10–247] 

MX2 LLC; Notice of Filing of 

Application, as Amended, for 

Registration as a National Securities 

Exchange Under Section 6 of the 

Securities Exchange Act of 1934 

December 11, 2024. 

On September 19, 2024, MX2 LLC 

(‘‘MX2’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

a Form 1 application under the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’), seeking registration 

as a national securities exchange under 

Section 6 of the Exchange Act. On 

November 29, 2024, MX2 submitted 

Amendment No. 1 to its Form 1 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 242 / Tuesday, December 17, 2024 / Notices 102215 

1 In Amendment No. 1, MX2 submitted updated 

portions of its Form 1 application, including 

Exhibits C (information regarding subsidiaries or 

affiliates), C–2 (Seventh Amended and Restated 

LLC Agreement of MEMX Holdings LLC), C–3 

(Eighth Amended and Restated LLC Agreement of 

MEMX Holdings LLC), C–16 (Second Amended and 

Restated LLC Agreement of MEMX LLC), E 

(description of the proposed operation of the 

exchange) and J (list of officers, governors, members 

of all standing committees, or persons performing 

similar functions). 

2 15 U.S.C. 78s(a). 3Form 1, Exhibit E at 6. 

4 17 CFR 200.30–3(a)(71)(i). 

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

2 17 CFR 240.19b–4. 

3On October 31, 2024, SR–ISE–2024–49 was filed 

to amend ORF. On November 27, 2024, SR–ISE– 

2024–49 was withdrawn and this rule change was 

filed. The current proposal amends the ORF Rate 

for Local Customer ‘‘C’’ Origin Code transactions 

executed on ISE, Local Firm ‘‘F’’ Origin Code 

transactions executed on ISE, and Away ORF Rate 

Firm ‘‘F’’ Origin Code multi-list transactions 

executed on non-ISE exchanges. 

application.1 MX2’s Form 1 application, 

as amended, provides detailed 

information on how it proposes to 

satisfy the requirements of the Exchange 

Act. 

The Commission is publishing this 

notice to solicit comments on MX2’s 

Form 1 application. The Commission 

will take any comments it receives into 

consideration in making its 

determination about whether to grant 

MX2’s request to register as a national 

securities exchange. The Commission 

will grant the registration if it finds that 

the requirements of the Exchange Act 

and the rules and regulations 

thereunder with respect to MX2 are 

satisfied.2

With respect to governance, MX2 

would be a subsidiary of its parent 

company, MEMX Holdings, LLC 

(‘‘MEMX Holdings’’), which would 

directly hold 100% of the equity of 

MX2. MEMX Holdings is the parent 

company of MX2’s affiliate, MEMX LLC, 

which operates a registered national 

securities exchange. The governing 

documents for MX2 can be found in 

Exhibit A to MX2’s Form 1 application, 

and a listing of the officers and directors 

of MX2 can be found in Exhibit J. The 

governing documents for MEMX 

Holdings can be found in Exhibit C to 

MX2’s Form 1 application. 

With respect to its trading system, the 

Form 1 application provides that MX2 

would operate a fully automated 

electronic trading platform for the 

trading of NMS stocks with a 

continuous automated matching 

function. MX2 would not maintain a 

physical trading floor. Liquidity would 

be derived from orders to buy and 

orders to sell submitted to MX2 

electronically by its registered brokerdealer members from remote locations. 

MX2 would have one class of 

membership open to registered brokerdealers, and also would allow members 

to register under MX2 rules as market 

makers on MX2 and be subject to certain 

specified requirements and obligations 

set forth in MX2’s proposed rules. 

According to MX2, it ‘‘intends for its 

System to be relatively simple, without 

many of the complex order types or 

instructions available on other national 

securities exchanges.’’ 3

A more detailed description of the 

manner of operation of MX2’s proposed 

system can be found in Exhibit E to 

MX2’s Form 1 application. The 

proposed rulebook for the proposed 

exchange can be found in Exhibit B to 

MX2’s Form 1 application. A complete 

set of forms concerning membership 

and access can be found in Exhibit F to 

MX2’s Form 1 application. 

MX2’s Form 1 application, including 

all of the Exhibits referenced above, is 

available online at www.sec.gov/rules/ 

other.shtml as well as in the 

Commission’s Public Reference Room. 

Interested persons are invited to submit 

written data, views, and arguments 

concerning MX2’s Form 1, including 

whether the application is consistent 

with the Exchange 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 10– 

247 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 10–247. 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/other.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to MX2’s Form 1 filed with 

the Commission, and all written 

communications relating to the 

application 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 10–247 and should be 

submitted on or before January 31, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.4

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–29630 Filed 12–16–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101877; File No. SR–ISE– 

2024–56] 

Self-Regulatory Organizations; Nasdaq 

ISE, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Adopt a New 

Approach to the Options Regulatory 

Fee (ORF) in 2025 

December 11, 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 November 

27, 2024, Nasdaq ISE, LLC (‘‘ISE’’ or 

‘‘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 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 amend 

ISE’s Pricing Schedule at Options 7, 

Section 9C regarding the Options 

Regulatory Fee.3

While the changes proposed herein 

are effective upon filing, the Exchange 

has designated the amendments to be 

operative on January 1, 2025. 


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