8064 Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices 

21 Id. 

22 17 CFR 240.17Ad–22(e)(18)(i). 

23 Id. 

24 15 U.S.C. 78q–1(b)(3)(A) and 15 U.S.C. 78q– 

1(b)(3)(F). 

25 17 CFR 240.17Ad–22(e)(18)(i). 

26 In approving the Proposed Rule Change, the 

Commission considered the proposal’s impacts on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 

27 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release Nos. 

102043 (December 27, 2024), 90 FR 351 (SR–NYSE– 

2024–81); 102042 (December 27, 2024), 90 FR 360 

(SR–NYSEAMER–2024–80); 102041 (December 27, 

2024), 90 FR 347 (SR–NYSEARCA–2024–113); 

102040 (December 27, 2024), 90 FR 356 (SR– 

NYSECHX–2024–37); 102039 (December 27, 2024), 

90 FR 342 (SR–NYSENAT–2024–33). 

4 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Exchange previously submitted the 

proposed rule change on December 13, 2024 (SR– 

CboeBZX–2024–124). See Securities Exchange Act 

Release No. 102044 (December 27, 2024), 90 FR 

342, (January 3, 2025) (SR–CboeBZX–2024–124). 

The Exchange is withdrawing SR–CboeBZX–2024– 

124 and submitting this filing to make clarifying, 

non-substantive changes to more clearly reflect the 

excluded trades in the Missed Liquidity Report, 

which the Exchange believes will avoid potential 

confusion. 

requirements of Sections 17A(b)(3)(F) of 

the Act.21

C. Consistency With Rule 17Ad– 

22(e)(18)(i) Under the Act 

Rule 17Ad–22(e)(18)(i) requires 

covered clearing agencies to, among 

other things, establish objective and 

publicly disclosed criteria for 

participation which permit fair and 

open access by indirect participants.22

The proposed changes will facilitate 

LCH SA’s ability to permit fair and open 

access by indirect participants by 

applying the same public and objective 

membership standards to potential CDS 

Dealers as are applied to regular 

Clearing Members, and by by creating a 

new category of CDS Dealer, which will 

allow eligible indirect participants to 

place trades as a CDS Dealer into an 

affiliate Clearing Member’s house 

account. 

Based on the foregoing, the Proposed 

Rule Change is consistent with the 

requirements of Rule 17Ad–22(e)(18)(i) 

under the Act.23

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the Proposed 

Rule Change is consistent with the 

requirements of the Act, and in 

particular, Sections 17A(b)(3)(A) and (F) 

of the Act 24 and Rule 17Ad– 

22(e)(18)(i).25

It is therefore ordered pursuant to 

Section 19(b)(2) of the Act that the 

Proposed Rule Change (SR–LCH SA– 

2024–005) be, and hereby is, 

approved.26

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.27

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01546 Filed 1–22–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102215; File Nos. SR– 

NYSE–2024–81, SR–NYSEAMER–2024–80, 

SR–NYSEARCA–2024–113, SR–NYSECHX– 

2024–37, SR–NYSENAT–2024–33] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; NYSE 

American LLC; NYSE Arca, Inc.; NYSE 

Chicago, Inc.; NYSE National, Inc.; 

Notice of Withdrawal of Proposed Rule 

Change To Amend the Connectivity 

Fee Schedule 

January 16, 2025. 

On December 17, 2024, New York 

Stock Exchange LLC, NYSE American 

LLC, NYSE Arca, Inc., NYSE Chicago, 

Inc., and NYSE National, Inc. (the 

‘‘Exchanges’’) each filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 1 and Rule 19b–4 thereunder,2 a 

proposed rule change to amend the 

connectivity fee schedule to add fees for 

connectivity from the Mahwah Data 

Center to one or more trading floors. 

The proposed rule changes were 

published for comment in the Federal 

Register on January 3, 2025.3

On December 31, 2024, the Exchanges 

withdrew the proposed rule changes 

(SR–NYSE–2024–81, SR–NYSEAMER– 

2024–80, SR–NYSEARCA–2024–113, 

SR–NYSECHX–2024–37, SR– 

NYSENAT–2024–33). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.4

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01545 Filed 1–22–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102239; File No. SR– 

CboeBZX–2025–004] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Rule 

21.15(b) (Exchange Data Products) To 

Adopt Cboe Timestamping Service, 

Which Is a Market Data Service 

Comprised of Two Distinct Market Data 

Reports 

January 17, 2025. 

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 January 

10, 2025, Cboe BZX 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 

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 

Rule 21.15(b) (Exchange Data Products) 

to adopt the Cboe Timestamping 

Service, which is a market data service 

comprised of two distinct market data 

reports.3 The Cboe Timestamping 

Service will provide timestamp 

information for orders, 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 


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