346 Federal Register / Vol. 90, No. 2 / Friday, January 3, 2025 / Notices 

21 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f). 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. 

5Orders shall include both complex and simple 

orders. 

6The Exchange plans to submit a separate filing 

with the Commission pursuant to Section 19(b)(1) 

to propose fees for the Missed Liquidity Report and 

Cancels Report. 

7Copies of the submission, all subsequent 

amendments, all written statements with respect to 

the proposed rule change that are filed with the 

would work best for their specific 

needs. The Exchange proposes to add a 

note to the Fee Schedule to clarify the 

difference, thereby making it easier for 

potential purchasers of the service to 

assess what connectivity will best serve 

them 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

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 

the 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/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSENAT–2024–33 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–NYSENAT–2024–33. 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–NYSENAT–2024–33 and should be 

submitted on or before January 24, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–31501 Filed 1–2–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102046; File No. SR–C2– 

2024–022] 

Self-Regulatory Organizations; Cboe 

C2 Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Adopt Cboe 

Timestamping Service Which is a 

Market Data Service Comprised of Two 

Distinct Market Data Reports 

December 27, 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 December 

13, 2024, Cboe C2 Exchange, Inc. 

(‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Item I below, 

which Item has been substantially 

prepared by the Exchange. The 

Exchange has designated this proposal 

for immediate effectiveness pursuant to 

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

19b–4(f) thereunder.4 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 adopt the 

Cboe Timestamping Service, which is a 

market data service comprised of two 

distinct market data reports. The Cboe 

Timestamping Service will provide 

timestamp information for orders, 5

quotes and cancels for market 

participants. More specifically, the Cboe 

Timestamping Service reports will 

provide various timestamps relating to 

the message lifecycle throughout the 

exchange system. The first report—the 

Missed Liquidity Report—will cover 

order and quote messages and the 

second report—Cancels Report—will 

cover cancel messages. The proposed 

reports are optional products that will 

be available to all Members and 

Members may opt to choose both 

reports, one report, or neither report. 

Corresponding fees will be assessed 

based on the number of reports 

selected.6

The proposed rule change, including 

the Exchange’s statement of the purpose 

of, and statutory basis for, the proposed 

rule change, is available on the 

Exchange’s website at http://

markets.cboe.com/us/options/ 

regulation/rule_filings/ctwo/, at the 

Exchange’s Office of the Secretary, and 

on the Commission’s website at https:// 

www.sec.gov/rules-regulations/selfregulatory-organization-rulemaking/ 

national-securities-exchanges?file_

number=SR-C2-2024-022. 

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.7


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 90, No. 2 / Friday, January 3, 2025 / Notices 347 

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 

SRO. 

8 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. 

4For purposes of the Exchange’s colocation 

services, a ‘‘User’’ means any market participant 

that requests to receive colocation services directly 

from the Exchange. See Securities Exchange Act 

Release No. 76010 (September 29, 2015), 80 FR 

60197 (October 5, 2015) (SR–NYSEArca–2015–82). 

As specified in the Fee Schedule, a User that incurs 

colocation fees for a particular colocation service 

pursuant thereto would not be subject to colocation 

fees for the same colocation service charged by the 

New York Stock Exchange LLC, NYSE American 

LLC, NYSE Chicago, Inc. and NYSE National, Inc. 

(together, the ‘‘Affiliate SROs’’). Each Affiliate SRO 

has submitted substantially the same proposed rule 

change to propose the change described herein. See 

SR–NYSE–2024–81, SR–NYSEAMER–2024–80, SR– 

NYSECHX–2024–37, and SR–NYSENAT–2024–33. 

5Through its Fixed Income and Data Services 

(‘‘FIDS’’) business, Intercontinental Exchange, Inc. 

(‘‘ICE’’) operates the MDC. The Exchange and the 

Affiliate SROs are indirect subsidiaries of ICE. 

6 Information flows over existing network 

connections in two formats: ‘‘unicast’’ format, 

which is a format that allows one-to-one 

communication, similar to a phone line, in which 

information is sent to and from the Exchange; and 

‘‘multicast’’ format, which is a format in which 

information is sent one-way from the Exchange to 

multiple recipients at once, like a radio broadcast. 

Comments may be submitted 

electronically by using the 

Commission’s internet comment form 

(https://www.sec.gov/rules-regulations/ 

self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-C2-2024- 

022) or by sending an email to rulecomments@sec.gov. Please include file 

number SR–C2–2024–022 on the subject 

line. Alternatively, paper comments 

may be sent to Secretary, Securities and 

Exchange Commission, 100 F Street NE, 

Washington, DC 20549–1090. All 

submissions should refer to file number 

SR–C2–2024–022. 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/nationalsecurities-exchanges?file_number=SRC2-2024-022). 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–C2–2024–022 and should be 

submitted on or before January 24, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–31508 Filed 1–2–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102041; File No. SR– 

NYSEARCA–2024–113] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change to Amend the 

Connectivity Fee Schedule 

December 27, 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 December 

17, 2024, NYSE Arca, Inc. (‘‘NYSE 

Arca’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III 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 amend the 

Connectivity Fee Schedule (‘‘Fee 

Schedule’’) to add connectivity to the 

New York Stock Exchange LLC, NYSE 

American LLC, and NYSE Arca trading 

floors. The proposed rule change is 

available on the Exchange’s website at 

www.nyse.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 

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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Fee Schedule to add connectivity to the 

New York Stock Exchange LLC, NYSE 

American LLC, and NYSE Arca trading 

floors (‘‘Trading Floors’’). 

A User 4 may wish to have a 

connection between the Mahwah, New 

Jersey data center (‘‘MDC’’) 5 and a 

Trading Floor. A connection between 

the MDC and a Trading Floor may be 

between the User and itself or between 

the User and a third party. The User 

may use such connection for receiving 

and transmitting trading-related data 

(including pre- and post-trade data and 

clearing information) or providing 

services to individuals physically 

located on the floor (including access to 

back-office systems), as determined by 

the User. 

The Exchange proposes to add an 

option for such a connection to the Fee 

Schedule. Specifically, the Exchange 

proposes to amend the Fee Schedule to 

add unicast connections through which 

a User can establish a connection 

between the MDC and a Trading Floor 

over dedicated bandwidth (‘‘TF 

Connections’’).6 Presently, a TF 

Connection can be in the form of a 

virtual control circuit between the MDC 

and a single Trading Floor (‘‘TF VCC’’), 

or a virtual routing and forwarding 

service between the MDC and one or 

more Trading Floors (‘‘TF VRF’’). A TF 

Connection may be used for any 

purpose: neither FIDS nor the Exchange 

has any visibility into a TF Connection. 

All TF Connections must be 

authorized by both parties to the 

connection before FIDS will establish a 

connection. Establishing a User’s TF 

Connection will not give FIDS or the 

Exchange any right to use the relevant 

exchange’s system. A TF Connection 

will not provide direct access or order 


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