Document ID: SEC-2020-1134-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Filing and Immediate Effectiveness of Amendment to the National Market System Plan Governing the Consolidated Audit Trail to Add MEMX LLC as a Participant
Posted Date: 2020-07-17T04:00Z

[Federal Register Volume 85, Number 138 (Friday, July 17, 2020)]
[Notices]
[Pages 43626-43627]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15461]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89306; File No. 4-698]

Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the National Market System Plan Governing the 
Consolidated Audit Trail To Add MEMX LLC as a Participant

July 13, 2020.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given 
that on June 5, 2020, MEMX LLC (``MEMX'' or ``Exchange'') filed with 
the Securities and Exchange Commission (``Commission'') an amendment to 
the National Market System Plan Governing the Consolidated Audit Trail 
(``CAT NMS Plan'' or ``Plan'').\3\ The amendment adds MEMX as a 
Participant \4\ to the CAT NMS Plan. The Commission is publishing this 
notice to solicit comments on the amendment from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ The Commission approved the CAT NMS Plan on November 16, 
2016. See Securities Exchange Act Release No. 79318, 81 FR 84695 
(November 23, 2016) (order approving the CAT NMS Plan).
    \4\ The Participants to the CAT NMS Plan are: BOX Exchange LLC; 
Cboe BYX Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe C2 Exchange, 
Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; Cboe 
Exchange, Inc.; Financial Industry Regulatory Authority, Inc.; 
Investors Exchange LLC; Long Term Stock Exchange, Inc.; Miami 
International Securities Exchange LLC; MIAX Emerald, LLC; MIAX 
PEARL, LLC; Nasdaq BX, Inc.; Nasdaq GEMX, LLC; Nasdaq ISE, LLC; 
Nasdaq MRX, LLC; Nasdaq PHLX LLC; The Nasdaq Stock Market LLC; New 
York Stock Exchange LLC; NYSE Arca, Inc.; NYSE American LLC; NYSE 
Chicago, Inc.; and NYSE National, Inc.
---------------------------------------------------------------------------

I. Description and Purpose of the Amendment

    The amendment to the CAT NMS Plan adds MEMX as a Participant.\5\ 
The CAT NMS Plan provides that any Person \6\ approved by the 
Commission as a national securities exchange or national securities 
association under the Exchange Act may become a Participant by 
submitting to the Company \7\ a completed application in the form 
provided by the Company.\8\ As a condition to admission as a 
Participant, said Person shall: (i) Execute a counterpart of the CAT 
NMS Plan, at which time Exhibit A shall be amended to reflect the 
status of said Person as a Participant (including said Person's address 
for purposes of notices delivered pursuant to the CAT NMS Plan); and 
(ii) pay a fee to the Company as set forth in the Plan (the 
``Participation Fee'').\9\ The amendment to the Plan reflecting the 
admission of a new Participant shall be effective only when: (x) It is 
approved by the Commission in accordance with Rule 608 or otherwise 
becomes effective pursuant to Rule 608; and (y) the prospective 
Participant pays the Participation Fee.\10\
---------------------------------------------------------------------------

    \5\ Defined in Section 1.1 of the CAT NMS Plan as follows: 
``Participant'' means each Person identified as such on Exhibit A 
hereto, and any Person that becomes a Participant as permitted by 
this Agreement, in such Person's capacity as a Participant in the 
Company (it being understood that the Participants shall comprise 
the ``members'' of the Company (as the term ``member'' is defined in 
Section 18-101(11) of the Delaware Act)).
    \6\ Defined in Section 1.1 of the CAT NMS Plan as follows: 
``Person'' means any individual, partnership, limited liability 
company, corporation, joint venture, trust, business trust, 
cooperative or association and any heirs, executors, administrators, 
legal representatives, successors and assigns of such Person where 
the context so permits.
    \7\ The ``Company'' refers to the limited liability company, 
Consolidated Audit Trail, LLC, which is responsible for conducting 
the activities of the CAT. See Securities Exchange Act Release No. 
87149 (September 27, 2019), 84 FR 52905 (October 3, 2019).
    \8\ See Section 3.3 of the CAT NMS Plan. MEMX was approved as a 
national securities exchange on May 4, 2020. See Securities Exchange 
Act Release No. 88806 (May 4, 2020), 85 FR 27451 (May 8, 2020).
    \9\ See Section 3.3 of the CAT NMS Plan.
    \10\ Id.
---------------------------------------------------------------------------

    MEMX has executed a copy of the current CAT NMS Plan, amended to 
include MEMX in the List of Parties (including the address of MEMX), 
paid the applicable Participation Fee and provided each current Plan 
Participant with a copy of the executed and amended CAT NMS Plan.\11\
---------------------------------------------------------------------------

    \11\ See Letter from Anders Franzon, General Counsel, MEMX LLC, 
dated June 5, 2020, to Vanessa Countryman, Secretary, U.S. 
Securities and Exchange Commission.
---------------------------------------------------------------------------

II. Effectiveness of the Proposed Plan Amendment

    The foregoing CAT NMS Plan amendment has become effective pursuant 
to Rule 608(b)(3)(iii) \12\ because it involves solely technical or 
ministerial matters. At any time within sixty days of the filing of 
this amendment, the Commission may summarily abrogate the amendment and 
require that it be refiled pursuant to paragraph (a)(1) of Rule 
608,\13\ if it appears to the Commission that such action is necessary 
or appropriate in the public interest, for the protection of investors 
or the maintenance of fair and orderly markets, to remove impediments 
to, and perfect the mechanisms of, a national market system or 
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \12\ 17 CFR 242.608(b)(3)(iii).
    \13\ 17 CFR 242.608(a)(1).
---------------------------------------------------------------------------

III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment is 
consistent with the Act. Comments may be submitted by any of the 
following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number 4-698 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 4-698. 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 (http://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

[[Page 43627]]

printing in the Commission's Public Reference Room, 100 F Street NE, 
Washington, DC 20549-1090 on official business days between the hours 
of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change. Persons submitting 
comments are cautioned that we do not redact or edit personal 
identifying information from comment submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number 4-698 and should be submitted 
on or before August 3, 2020.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-15461 Filed 7-16-20; 8:45 am]
BILLING CODE 8011-01-P