Federal Register / Vol. 90, No. 3 / Monday, January 6, 2025 / Notices 701 

5An ‘‘Industry Member’’ is defined as ‘‘a member 

of a national securities exchange or a member of a 

national securities association.’’ See FINRA Rule 

6810(u). See also Section 1.1 of the CAT NMS Plan. 

Unless otherwise specified, capitalized terms used 

in this rule filing are defined as set forth in the CAT 

NMS Plan and/or the CAT Compliance Rule. See 

FINRA Rule 6800 Series (Consolidated Audit Trail 

Compliance Rule). 

6See FINRA Rule 6897(a)(1)(C) of FINRA Rule 

Series 6800 (Consolidated Audit Trail Compliance 

Rule). See also Securities Exchange Act Release No. 

100881 (August 30, 2024), 89 FR 72478 (September 

5, 2024) (Notice of Filing and Immediate 

Effectiveness of File No. SR–FINRA–2024–011) 

(‘‘Fee Filing for CAT Fee 2024–1’’). 

7Copies 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 

SRO. 

8 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

FINRA is proposing to amend FINRA 

Rule 6897 (Consolidated Audit Trail 

Funding Fees) to establish fees for 

Industry Members 5 related to 

reasonably budgeted Consolidated 

Audit Trail (‘‘CAT’’) costs of the 

National Market System Plan Governing 

the Consolidated Audit Trail (the ‘‘CAT 

NMS Plan’’ or ‘‘Plan’’) for 2025. These 

fees would be payable to Consolidated 

Audit Trail, LLC (‘‘CAT LLC’’ or the 

‘‘Company’’) and referred to as ‘‘CAT 

Fee 2025–1.’’ 

The fee rate for CAT Fee 2025–1 

would be $0.000022 per executed 

equivalent share. CAT Executing 

Brokers will receive their first monthly 

invoice for CAT Fee 2025–1 in February 

2025 calculated based on their 

transactions as CAT Executing Brokers 

for the Buyer (‘‘CEBB’’) and/or CAT 

Executing Brokers for the Seller 

(‘‘CEBS’’) in January 2025. CAT Fee 

2025–1 is anticipated to be in place for 

six months, and is anticipated to recover 

approximately one-half of the costs set 

forth in the reasonably budgeted CAT 

costs for 2025. CAT LLC intends for 

CAT Fee 2025–1 to replace CAT Fee 

2024–1 (which has a fee rate of 

$0.000035).6

The proposed rule change, including 

FINRA’s statement of the purpose of, 

and statutory basis for, the proposed 

rule change, is available on FINRA’s 

website at https://www.finra.org, at the 

principal office of FINRA and on the 

Commission’s website at https://

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

finra?file_number=SR-FINRA-2024-023. 

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

Comments may be submitted 

electronically by using the 

Commission’s internet comment form 

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

self-regulatory-organizationrulemaking/finra?file_number=SRFINRA-2024-023) or by sending an 

email to rule-comments@sec.gov. Please 

include file number SR–FINRA–2024– 

023 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–FINRA–2024–023. 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/finra?file_

number=SR-FINRA-2024-023). 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–FINRA–2024–023 

and should be submitted on or before 

January 27, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Stephanie J. Fouse, 

Assistant Secretary. 

[FR Doc. 2024–31612 Filed 1–3–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102066; File No. SR–C2– 

2024–025] 

Self-Regulatory Organizations; Cboe 

C2 Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Establish Fees for 

Industry Members Related to 

Reasonably Budgeted CAT Costs of 

the National Market System Plan 

Governing the Consolidated Audit Trail 

for 2025 

December 31, 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 

20, 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 amend its 

‘‘Consolidated Audit Trail Funding 

Fees’’ fee schedule to establish the CAT 

Fee 2025–1 fee rate of $0.000022 per 

executed equivalent share. 

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://

www.cboe.com/AboutCBOE/CBOELegal

RegulatoryHome.aspx, at the principal 

office of the Exchange, and on the 

Commission’s website at https://

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

national-securities-exchanges?file_

number=SR-C2-2024-025. 


khammond on DSK9W7S144PROD with NOTICES
702 Federal Register / Vol. 90, No. 3 / Monday, January 6, 2025 / Notices 

5Copies 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 

SRO. 

6 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. 

5Copies 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 

SRO. 

6 17 CFR 200.30–3(a)(12). 

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.5

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- 

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

number SR–C2–2024–025 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–C2–2024–025. 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=SRC2-2024-025). 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–C2–2024–025 and should be 

submitted on or before January 27, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Stephanie J. Fouse, 

Assistant Secretary. 

[FR Doc. 2024–31772 Filed 1–3–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102063; File No. SR– 

CBOE–2024–059] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Establish Fees for 

Industry Members Related to 

Reasonably Budgeted CAT Costs of 

the National Market System Plan 

Governing the Consolidated Audit Trail 

for 2025 

December 31, 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 

20, 2024, Cboe 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 amend its 

‘‘Consolidated Audit Trail Funding 

Fees’’ fee schedule to establish the CAT 

Fee 2025–1 fee rate of $0.000022 per 

executed equivalent share. 

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://

www.cboe.com/AboutCBOE/CBOELegal

RegulatoryHome.aspx, at the principal 

office of the Exchange, and on the 

Commission’s website at https://

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

national-securities-exchanges?file_

number=SR-CBOE-2024-059. 

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.5

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-CBOE-2024- 

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

number SR–CBOE–2024–059 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–CBOE–2024– 

059. 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-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-CBOE-2024- 

059). 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–CBOE–2024–059 and should be 

submitted on or before January 27, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Stephanie J. Fouse, 

Assistant Secretary. 

[FR Doc. 2024–31769 Filed 1–3–25; 8:45 am] 

BILLING CODE 8011–01–P 


khammond on DSK9W7S144PROD with NOTICES