30 Day Notice

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Federal Register / Vol. 84, No. 201 / Thursday, October 17, 2019 / Notices

when compared to competitor products
that combine higher subscriber fees with
lower fees for distribution. In light of
the benefits already provided to this
group of subscribers, the Exchange
believes that additional discounts to
small retail brokers would increase
rather than decrease competition among
broker-dealers that participate on the
Exchange. Furthermore, as discussed
earlier in this proposed rule change, the
Exchange believes that offering pricing
benefits to brokers that represent retail
investors facilitates the Commission’s
mission of protecting ordinary investors,
and is therefore consistent with the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 24 and paragraph (f) of Rule
19b–4 25 thereunder. 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.
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 (http://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CboeEDGX–2019–059 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
24 15
25 17

U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).

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Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR-CboeEDGX–2019–059. 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
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549, 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 SR-CboeEDGX–2019–059 and
should be submitted on or before
November 7, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.26
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–22702 Filed 10–16–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Rules 13n–4(b)(9), (b)(10) and (d), SEC File
No. 270–793, OMB Control No. 3235–
0738
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CFR 200.30–3(a)(12).

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Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
rules 13n–4(b)(9), (b)(10) and (d) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.).
Rules 13n–4(b)(9), (b)(10) and (d)
implement Exchange Act sections
13(n)(5)(G) and (H), which conditionally
require security-based swap data
repositories (SDRs) registered with the
SEC to make security-based swap data
available to certain regulators and other
authorities. The rules in part would
condition this access to data on the
regulators and other authorities entering
into memoranda of understanding or
other arrangements with the
Commission to address the
confidentiality of the data made
available. The rules further would
require SDRs to create and maintain
records regarding such data access. In
addition, certain regulators or other
authorities that are not otherwise
designated by statute or rule may submit
applications to the Commission
requesting that they be deemed eligible
to access the relevant security-based
swap data.
Implementation of the statutory data
access provisions—including the
confidentiality condition and the
Commission’s authority to designate
entities to access such information—
will facilitate regulatory oversight of the
security-based swap market and its
participants, including oversight of
systemic and other risks associated with
the market. Implementation also will
promote compliance with applicable
laws and regulations, including but not
limited to compliance with the
antifraud provisions of the federal
securities laws.
Commission Staff estimates that the
total annual burden associated with
Rules 13n–4(b)(9), (b)(10) and (d) is
35,700 hours and $400,000, calculated
as follows:
Commission staff estimates a total of
30 regulators or other authorities will
enter into confidentiality arrangements
with the Commission to obtain access to
security-based swap data pursuant to
these provisions. On average, each of
those recipients of data is expected to
expend 500 hours in connection with
negotiating these MOUs or other
arrangements, for a one-time aggregate
burden of 15,000 hours, with no
associated ongoing burdens. This

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Federal Register / Vol. 84, No. 201 / Thursday, October 17, 2019 / Notices
equates to 5,000 hours per year when
annualized over three years.
Commission staff estimates that a total
of 21 regulators or other authorities (that
otherwise are not identified by statute or
the rules as being eligible for access)
may request that the Commission
determine that they be able to access
such security-based swap data. On
average, each of those entities is
expected to expend 40 hours in
connection with such requests, for a
one-time aggregate burden of 840 hours,
with no associated ongoing burdens.
This equates to 280 hours per year when
annualized over three years.
Commission staff also estimates that a
total of 10 SDRs may be expected to
incur systems-related costs associated
with setting up access to security-based
swap data for regulators and other
authorities. On average, each of those
entities is expected to expend 7,800
hours in connection with providing
such connectivity, for a one-time
aggregate burden of 78,000 hours, with
no associated no ongoing burdens
associated with this requirement. This
equates to 26,000 hours when
annualized over three years.
In addition, Commission staff
estimates that a total of 10 SDRs may
incur costs associated with notifying the
Commission when the SDR receives the
first request for security-based swap
data from a particular entity. On
average, each of those SDRs is expected
to expend 150 hours in connection with
this notice requirement (based on each
SDR providing 300 notices, at half-hour
per notice), for a one-time aggregate
burden of 1,500 hours, with no
associated ongoing burdens. This
equates to 500 hours per year when
annualized over three years.
Commission staff estimates that a total
of 10 SDRs may incur costs associated
with the requirement that they maintain
records of all information related to
initial and subsequent requests for data
access. On average, compliance with
this provision is expected to require 360
hours initially and 280 hours annually
per SDR, for a total burden of 3,600
hours initially and 2,800 hours annually
across ten SDRs. This equates to 4,000
hours per year when annualized over
three years. Commission staff further
estimates that those SDRs each will
require $40,000 annually in connection
with that requirement, for a total cost of
$400,000 annually across ten SDRs.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
The public may view background
documentation for this information

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17:26 Oct 16, 2019

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collection at the following website:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503,
or by sending an email to:
Lindsay.M.Abate@omb.eop.gov; and (ii)
Charles Riddle, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov. Comments must
be submitted to OMB within 30 days of
this notice.
Dated: October 10, 2019.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019–22579 Filed 10–16–19; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–87270; File No. SR–BX–
2019–033]

Self-Regulatory Organizations; Nasdaq
BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend BX Rules at
Chapter VI, Section 6
October 10, 2019.

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 October
8, 2019, Nasdaq BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘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 BX
Rules at Chapter VI, Section 6,
‘‘Acceptance of Quotes and Orders,’’
Chapter VI, Section 7, ‘‘Entry and
Display Orders,’’ Chapter VI, Section 10,
‘‘Book Processing,’’ Chapter VI, Section
21, ‘‘Order and Quote Protocols,’’
Chapter VII, Section 5, ‘‘Obligations of
Market Makers,’’ and Chapter VII,
Section 12, ‘‘Order Exposure
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CFR 240.19b–4.

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55631

Requirements.’’ The Exchange proposes
to relocate certain current rules to new
Rules Chapter VI, Section 22, titled
‘‘Kill Switch’’ and 23, titled ‘‘Detection
of Loss of Communication.’’
The text of the proposed rule change
is available on the Exchange’s website at
http://nasdaqbx.cchwallstreet.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
Exchange 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 these
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 aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Chapter VI, Section 6, ‘‘Acceptance of
Quotes and Orders,’’ Chapter VI, Section
7, ‘‘Entry and Display Orders,’’ Chapter
VI, Section 10, ‘‘Book Processing,’’
Chapter VI, Section 21, ‘‘Order and
Quote Protocols,’’ Chapter VII, Section
5, ‘‘Obligations of Market Makers,’’ and
Chapter VII, Section 12, ‘‘Order
Exposure Requirements.’’ The Exchange
proposes to relocate certain current
rules to new Rules Chapter VI, Section
22, titled ‘‘Kill Switch’’ and 23, titled
‘‘Detection of Loss of Communication.’’
Each rule change will be discussed in
greater detail below.
Chapter VI, Section 6, Acceptance of
Quotes and Orders
Currently, Chapter VI, Section 6 is
titled ‘‘Acceptance of Quotes and
Orders.’’ The Exchange proposes to
retitle Chapter VI, Section 6 as ‘‘Entry
and Display of Quotes.’’ The Exchange
proposes to add an (a) before the first
paragraph. The Exchange is removing
references to orders in this Rule because
it also proposes to adopt a new Chapter
VI, Section 7, titled ‘‘Entry and Display
of Orders’’ to describe requirements for
order entry.
The Exchange proposes to add a new
section (b) to Chapter VI, Section 6 to
describe the current requirements and

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