Notice2024-10818
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend ISE Options 7
Primary source
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Published
May 17, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 97 (Friday, May 17, 2024)</title>
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[Federal Register Volume 89, Number 97 (Friday, May 17, 2024)]
[Notices]
[Pages 43455-43459]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-10818]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-100123; File No. SR-ISE-2024-18]
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend ISE
Options 7
May 13, 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 May 7, 2024, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') filed with
the Securities and Exchange Commission (``SEC'' or ``Commission'') the
proposed rule change as described in Items I, II, and III, 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.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend ISE's Pricing Schedule at Options
7.\3\
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\3\ The Exchange withdrew SR-ISE-2024-15 on May 7, 2024 and
submitted this filing.
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While the changes proposed herein are effective upon filing, the
Exchange has designated the pricing changes become operative on August
1, 2024, with the exception of the Exposed Order definition and
Dedicated Gateway amendments which would be effective on September 1,
2024.
The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/ise/rules">https://listingcenter.nasdaq.com/rulebook/ise/rules</a>, 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
ISE proposes to amend its Pricing Schedule at Options 7.
Specifically, ISE proposes to: (1) add the defined term ``Exposed
Order'' within Options 7, Section 1(c); (2) amend Options 7, Section
7.C to offer certain free ports in connection with an upcoming
technology migration; \4\ and (3) amend Options 7, Section 8.C to
discontinue offering Dedicated Gateway access services. Each change is
described below.
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\4\ See Options Trader Alert #2024-5. The ISE migration will
commence on September 9, 2024.
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Options 7, Section 1
The Exchange proposes to define an Exposed Order for purposes of
pricing within Options 7. The Exchange introduced the concept of an
``exposure'' in a rule change amending ISE's routing rules.\5\ In that
rule change, the Exchange noted that for purposes of ISE's Options 5,
Section 4 routing rule, ``exposure'' or ``exposing'' an order means a
notification sent to Members with the price, size, and side of interest
that is available for execution.\6\ The order exposure will apply to
both routed orders and non-routed or ``DNR Orders.'' The order exposure
process permits the Exchange to apply a Route Timer \7\ prior to the
initial and subsequent routing of an order and allows routing of the
order after exposure occurs (during open trading) every time an order
becomes marketable against the ABBO.\8\
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\5\ See Securities Exchange Act Release No. 94897 (May 12,
2022), 87 FR 30294 (May 18, 2022) (SR-ISE-2022-11) (Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Routing
Functionality in Connection With a Technology Migration). See also
Securities Exchange Act Release No. 97126 (March 13, 2023), 88 FR
16485 (March 17, 2023) (SR-ISE-2023-04) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change To Delay the
Implementation of Certain Trading Functionality).
\6\ See ISE Options 5, Section 4(a) which is effective but not
yet operative. See supra note 4.
\7\ For purposes of Options 5, Section 4, a Route Timer shall
not exceed one second and shall begin at the time orders are
accepted into the System, and the System will consider whether an
order can be routed at the conclusion of each Route Timer.
\8\ See supra note 4.
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At this time, the Exchange proposes to amend Options 7, Section
1(c) to provide,
[[Page 43456]]
An ``Exposed Order'' is an order that is broadcast via an order
exposure alert as described within Options 5, Section 4 (Order
Routing). Unless otherwise noted in Options 7, Section 3 pricing,
Exposed Orders will be assessed the applicable ``Taker'' Fee and any
order or quote that executes against an Exposed Order during a Route
Timer will be paid/assessed the applicable ``Maker'' Rebate/Fee.
As proposed, the defined term would apply a Taker Fee, where
applicable, to an executed Exposed Order. If an order or quote
allocates against the Exposed Order during the Route Timer described
within Options 5, Section 4, the Exchange would pay/assess the
applicable Maker Rebate or Maker Fee. The Exchange believes that its
proposal should provide increased opportunities for participation in
executions on the Exchange, facilitating the ability of the Exchange to
bring together participants and encourage more robust competition for
orders.
Options 7, Section 6
In connection with a technology migration,\9\ Members may request
new FIX Ports,\10\ SQF Ports,\11\ SQF Purge Ports,\12\ OTTO Ports,\13\
CTI Ports,\14\ and FIX DROP Ports,\15\ at no additional cost, from
August 1, 2024 through October 31, 2024 (``Transition Period'') which
are duplicative of the type and quantity of their legacy ports. These
second set of new ports would allow Members time to test ports to the
new environment as well as provide continuous connection to the
Exchange's match engine during the Transition Period.\16\ During the
Transition Period, Members will be required to utilize their new ports
on the new ISE platform for symbols that have migrated to the new
platform, while continuing to leverage legacy ports for symbols that
have not yet migrated to the new platform.\17\ For example, an ISE
Member with 3 legacy SQF Ports, 1 legacy SQF Purge Port, 1 legacy FIX
DROP Port, 1 legacy OTTO Port, and 1 legacy CTI Port on August 1, 2024
could request the equivalent quantity and type of new ports (3 SQF
Ports, 1 SQF Purge Port, 1 FIX DROP Port, 1 OTTO Port, and 1 CTI Port)
for the new ISE environment during the Transition Period at no
additional cost. During the Transition Period, the ISE Member would be
assessed only for legacy ports and would not be assessed for the new
ports, which are duplicative of the legacy ports.
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\9\ ISE is migrating its technology to an enhanced Nasdaq, Inc.
functionality which results in higher performance, scalability, and
more robust architecture.
\10\ ``Financial Information eXchange'' or ``FIX'' is an
interface that allows Members and their Sponsored Customers to
connect, send, and receive messages related to orders and auction
orders to the Exchange. Features include the following: (1)
execution messages; (2) order messages; (3) risk protection triggers
and cancel notifications; and (4) post trade allocation messages.
See Supplementary Material .03(a) to Options 3, Section 7.
\11\ ``Specialized Quote Feed'' or ``SQF'' is an interface that
allows Market Makers to connect, send, and receive messages related
to quotes, Immediate-or-Cancel Orders, and auction responses to the
Exchange. Features include the following: (1) options symbol
directory messages (e.g., underlying instruments); (2) System event
messages (e.g., start of trading hours messages and start of
opening); (3) trading action messages (e.g., halts and resumes); (4)
execution messages; (5) quote messages; (6) Immediate-or-Cancel
Order messages; (7) risk protection triggers and purge
notifications; (8) opening imbalance messages; (9) auction
notifications; and (10) auction responses. The SQF Purge Interface
only receives and notifies of purge requests from the Market Maker.
Market Makers may only enter interest into SQF in their assigned
options series. See Supplementary Material .03(c) to Options 3,
Section 7.
\12\ SQF Purge is a specific port for the SQF interface that
only receives and notifies of purge requests from the Market Maker.
Dedicated SQF Purge Ports enable Market Makers to seamlessly manage
their ability to remove their quotes in a swift manner.
\13\ ``Ouch to Trade Options'' or ``OTTO'' is an interface that
allows Members and their Sponsored Customers to connect, send, and
receive messages related to orders, auction orders, and auction
responses to the Exchange. Features include the following: (1)
options symbol directory messages (e.g., underlying instruments);
(2) System event messages (e.g., start of trading hours messages and
start of opening); (3) trading action messages (e.g., halts and
resumes); (4) execution messages; (5) order messages; (6) risk
protection triggers and cancel notifications; (7) auction
notifications; (8) auction responses; and (9) post trade allocation
messages. See Supplementary Material .03(b) to Options 3, Section 7.
\14\ Clearing Trade Interface (``CTI'') is a real-time cleared
trade update message that is sent to a Member after an execution has
occurred and contains trade details specific to that Member. The
information includes, among other things, the following: (i) The
Clearing Member Trade Agreement (``CMTA'') or The Options Clearing
Corporation (``OCC'') number; (ii) badge or mnemonic; (iii) account
number; (iv) information which identifies the transaction type (e.g.
auction type) for billing purposes; and (v) market participant
capacity. See Option 3, Section 23(b)(1).
\15\ FIX DROP is a real-time order and execution update message
that is sent to a Member after an order been received/modified or an
execution has occurred and contains trade details specific to that
Member. The information includes, among other things, the following:
(i) executions; (ii) cancellations; (iii) modifications to an
existing order; and (iv) busts or post-trade corrections. See
Options 3, Section 23(b)(3).
\16\ Members would contact Market Operations to acquire new
duplicative ports.
\17\ See Options Trader Alert #2024-5. The ISE migration will
commence on September 9, 2024 and end on September 23, 2024.
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A Member may acquire additional legacy ports during the Transition
Period and would be assessed the charges indicated in the current
Pricing Schedule at Options 7, Section 7.C, respectively, for those
additional legacy ports.
The technology migration does not require a Member to acquire any
additional legacy ports or any specific number of new ports, rather the
technology migration requires a new port to connect to the new ISE
environment. As is the case today, a Member may decide the number of
ports they desire to subscribe to on the new technology platform.\18\
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\18\ The technology migration is 1:1 and therefore would not
require a Member to acquire an additional quantity of new ports, nor
would it reduce the total number of ports needed to connect to the
match engine.
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Of note, only ISE Members may utilize ports on ISE and only one
port is necessary to submit orders to ISE. Similarly, a Market Maker
quoting on ISE only requires 1 SQF Port.\19\ A Member may also obtain
any number of order and execution ports, such as a SQF Purge Ports, FIX
DROP Ports and CTI Ports and any number of market data ports.\20\
Members are able to elect the quantity and type of ports they purchase
based on that Member's business model.\21\
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\19\ SQF Ports are utilized solely by Market Makers who are the
only Members permitted to quote on ISE.
\20\ ISE does not assess fees for the market data ports within
Options 7, Section 7.C(iii). Members may acquire any number of
market data ports at no cost.
\21\ For example, a Member may desire to utilize multiple FIX or
OTTO Ports for accounting purposes, to measure performance, for
regulatory reasons or other determinations that are specific to that
Member.
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This proposal is not intended to impose any additional fees on any
ISE Member. Rather, this proposal is intended to permit an ISE Member
to utilize the new environment with the same type and quantity of
legacy ports, at no additional cost, during the Transition Period.
Starting November 1, 2024, the port fees in Options 7, Section 7.C
would apply to any substituted ports that a Member continues to
subscribe to after the Transition Period. ISE will sunset legacy FIX
Ports, SQF Ports, SQF Purge Ports, OTTO Ports, CTI Ports and FIX DROP
Ports on December 20, 2024.
Options 7, Section 8
Today, ISE offers Market Makers the ability to access the Exchange
through a
[[Page 43457]]
Dedicated Gateway. Only Market Makers that utilize SQF ports have the
option of utilizing this dedicated offering. Today, all other ports,
namely FIX, OTTO and Precise, are subject to shared access through a
Shared Gateway, at no cost, while an SQF port has the options of shared
access, at no cost, or dedicated access. Today, ISE charges a fee of
$2,250 per SQF gateway, per month, for dedicated access.
At this time, ISE proposes to discontinue Dedicated Gateway access
for SQF Ports as of September 1, 2024. Similar to FIX, OTTO and
Precise, SQF Ports will have shared access through a Shared Gateway at
no cost.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\22\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\23\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees, and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
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\22\ See 15 U.S.C. 78f(b).
\23\ See 15 U.S.C. 78f(b)(4) and (5).
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The Exchange's proposed changes to its Pricing Schedule are
reasonable in several respects. As a threshold matter, the Exchange is
subject to significant competitive forces in the market for options
securities transaction services that constrain its pricing
determinations in that market. The fact that this market is competitive
has long been recognized by the courts. In NetCoalition v. Securities
and Exchange Commission, the D.C. Circuit stated as follows: ``[n]o one
disputes that competition for order flow is `fierce.' . . . As the SEC
explained, `[i]n the U.S. national market system, buyers and sellers of
securities, and the broker-dealers that act as their order-routing
agents, have a wide range of choices of where to route orders for
execution'; [and] `no exchange can afford to take its market share
percentages for granted' because `no exchange possesses a monopoly,
regulatory or otherwise, in the execution of order flow from broker
dealers'. . . .'' \24\
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\24\ NetCoalition v. SEC, 615 F.3d 525, 539 (D.C. Cir. 2010)
(quoting Securities Exchange Act Release No. 59039 (December 2,
2008), 73 FR 74770, 74782-83 (December 9, 2008) (SR-NYSEArca-2006-
21)).
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The Commission and the courts have repeatedly expressed their
preference for competition over regulatory intervention in determining
prices, products, and services in the securities markets. In Regulation
NMS, while adopting a series of steps to improve the current market
model, the Commission highlighted the importance of market forces in
determining prices and SRO revenues and, also, recognized that current
regulation of the market system ``has been remarkably successful in
promoting market competition in its broader forms that are most
important to investors and listed companies.'' \25\
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\25\ Securities Exchange Act Release No. 51808 (June 9, 2005),
70 FR 37496, 37499 (June 29, 2005) (``Regulation NMS Adopting
Release'').
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Numerous indicia demonstrate the competitive nature of this market.
For example, clear substitutes to the Exchange exist in the market for
options security transaction services. The Exchange is only one of
seventeen options exchanges to which market participants may direct
their order flow. Within this environment, market participants can
freely and often do shift their order flow among the Exchange and
competing venues in response to changes in their respective pricing
schedules. As such, the proposal represents a reasonable attempt by the
Exchange to increase its liquidity and market share relative to its
competitors.
Options 7, Section 1
The Exchange's proposal to define an Exposed Order for purposes of
pricing within Options 7, Section 1(c) is reasonable because it will
provide Members information as to the manner in which pricing will be
applied to both the Exposed Order as well as an order or quote that
allocates against the Exposed Order.\26\ As proposed, the applicable
Taker Fee would apply to an executed Exposed Order and the applicable
Maker Rebate or Maker Fee would apply to an order or quote that
allocated against the Exposed Order during the Route Timer. The
Exchange believes the proposed pricing should provide increased
opportunities for participation in executions on the Exchange,
facilitating the ability of the Exchange to bring together participants
and encourage more robust competition for orders. Order exposure has
the potential to result in more efficient executions for participants
as responses to exposed orders could result in faster executions. Order
exposure assures that such exposed orders will only receive executions
at a price at least as good as the price disseminated by the best away
market at the time the order was received. Further, the Exchange
believes that it is reasonable, equitable and not unfairly
discriminatory to apply the Taker Fee to Exposed Orders and the Maker
Rebate/Fee to any order or quote that executes against an Exposed Order
during a Route Timer because the Exposed Order that would route to an
away market if not otherwise executed on ISE would be taking liquidity
from the Exchange's order book while a quote or order that executes
against the Exposed Order during the Route Timer would be considered
making liquidity in response to the notification sent to Members
indicating the order is available for execution. Nasdaq MRX, LLC
(``MRX'') and Nasdaq GEMX, LLC (``GEMX'') similarly assess a Taker Fee
to an exposed order and pay/assess a Maker Rebate/Fee to any order or
quote that executes against the exposed order during the Route
Timer.\27\
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\26\ See Option 5, Section 4.
\27\ See MRX and GEMX Options 7, Section 1(c).
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The Exchange's proposal to define an Exposed Order for purposes of
pricing within Options 7, Section 1(c) is equitable and not unfairly
discriminatory as the proposed pricing for Exposed Orders would be
uniformly applied to all orders subject to the Exchange's Route Timer,
as described in Options 5, Section 4.
Options 7, Section 6
The proposed amendments to Options 7, Section 7.C to permit Members
to acquire a second set of FIX Ports, SQF Ports, SQF Purge Ports, OTTO
Ports, CTI Ports and FIX DROP Ports, at no cost, as part of the
technology migration are reasonable because they will permit ISE
Members to migrate to the new platform without a pricing impact.
Specifically, the proposal is intended to permit ISE Members to migrate
their legacy FIX Ports, SQF Ports, SQF Purge Ports, OTTO Ports, CTI
Ports and FIX DROP Ports to new ports at no additional cost during the
Transition Period. This proposal will allow Members to test their ports
and maintain continuous connection to the Exchange's match engine
during the Transition Period.
The proposed amendments to Options 7, Section 7.C to permit Members
to acquire a second set of FIX Ports, SQF Ports, SQF Purge Ports, OTTO
Ports, CTI Ports and FIX DROP Ports, at no cost, as part of the
technology migration are equitable and not unfairly discriminatory
because no Member would have a pricing impact as a result of this
proposal, provided the Member did not obtain additional new ports to
connect to the ISE environment beyond the quantity and type the Member
had on August 1, 2024 or additional legacy ports. No Member would be
assessed a fee for the new second set of ports, provided they acquired
a new second set of ports commiserate with the type and quantity of
ports they subscribed to
[[Page 43458]]
as of August 1, 2024. A Member obtaining additional legacy ports,
beyond the current type and quantity of ports they have as of August 1,
2024, would be assessed the fees noted in Options 7, Section 7.C as
applicable. ISE will sunset legacy FIX Ports, SQF Ports, SQF Purge
Ports, OTTO Ports, CTI Ports and FIX DROP Ports on December 20, 2024
for all Members. Starting November 1, 2024, the port fees in Options 7,
Section 7.C would apply to any substituted ports that a Member
continues to subscribe to after the Transition Period.
The technology migration does not require a Member to acquire any
additional quantity of new ports, nor would it reduce the total number
of ports needed to connect to the match engine. Rather the technology
migration requires a new port to replace any legacy port provided the
Member desired to maintain the same number of ports on the new ISE
technology platform. Of note, only ISE Members may utilize ports on ISE
and only one port is necessary to submit orders to ISE. Similarly, a
Market Maker quoting on ISE only requires 1 SQF Port.\28\ A Member may
also obtain any number of order and execution ports, such as a SQF
Purge Ports, FIX DROP Ports and CTI Ports and any number of market data
ports.\29\ Members are able to elect the quantity and type of ports
they purchase based on that Member's business model.\30\
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\28\ SQF Ports are utilized solely by Market Makers who are the
only Members permitted to quote on ISE.
\29\ ISE does not assess fees for the market data ports within
Options 7, Section 7.C(iii). Members may acquire any number of
market data ports at no cost.
\30\ For example, a Member may desire to utilize multiple FIX or
OTTO Ports for accounting purposes, to measure performance, for
regulatory reasons or other determinations that are specific to that
Member.
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Options 7, Section 8
The Exchange's proposal to discontinue Dedicated Access for SQF
Ports as of September 1, 2024 is reasonable as all ports (FIX, OTTO,
Precise, SQF Ports) would utilize a shared gateway to access the
Exchange. There is no cost to utilize the Shared Gateway on ISE. The
Exchange notes that GEMX and MRX do not offer Shared Gateways, rather
they utilize shared access to all Members for all ports.
The Exchange's proposal to discontinue Dedicated Access for SQF
Ports as of September 1, 2024 is equitable and not unfairly
discriminatory as all access to the Exchange for all Members, for all
ports will be at no cost through shared access.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Intermarket Competition
The Exchange believes its proposal remains competitive with other
options markets, and will offer market participants with another choice
of venue to transact options. The Exchange notes that it operates in a
highly competitive market in which market participants can readily
favor competing venues if they deem fee levels at a particular venue to
be excessive, or rebate opportunities available at other venues to be
more favorable. Because competitors are free to modify their own fees
in response, and because market participants may readily adjust their
order routing practices, the Exchange believes that the degree to which
fee changes in this market may impose any burden on competition is
extremely limited.
Intramarket Competition
Options 7, Section 1
The Exchange's proposal to define an Exposed Order for purposes of
pricing within Options 7, Section 1(c) does not impose an undue burden
on competition because the proposed pricing for Exposed Orders would be
uniformly applied to all orders subject to the Exchange's Route Timer,
as described in Options 4, Section 5.
Options 7, Section 6
The proposed amendments to Options 7, Section 7.C to permit Members
to acquire a second set of FIX Ports, SQF Ports, SQF Purge Ports, OTTO
Ports, CTI Ports and FIX DROP Ports, at no cost, as part of the
technology migration do not impose an undue burden on competition
because no Member would have a pricing impact as a result of this
proposal, provided the Member did not obtain additional new ports to
connect to the ISE environment beyond the quantity and type the Member
had on August 1, 2024 or additional legacy ports. No Member would be
assessed a fee for the new second set of ports, provided they acquired
a new second set of ports commiserate with the type and quantity of
ports they subscribed to as of August 1, 2024. A Member obtaining
additional legacy ports, beyond the current type and quantity of ports
they have as of August 1, 2024, would be assessed the fees noted in
Options 7, Section 7.C as applicable. ISE will sunset legacy FIX Ports,
SQF Ports, SQF Purge Ports, OTTO Ports, CTI Ports and FIX DROP Ports on
December 20, 2024 for all Members. Starting on November 1, 2024 the
port fees in Options 7, Section 7.C would apply to any substituted
ports that a Member continues to subscribe to after the Transition
Period.
Options 7, Section 8
The Exchange's proposal to discontinue Dedicated Access for SQF
Ports as of September 1, 2024 does not impose an undue burden on
competition as all access to the Exchange for all Members, for all
ports will be at no cost through shared access.
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)(ii) of the Act.\31\ 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: (i) necessary or appropriate in the public
interest; (ii) for the protection of investors; or (iii) otherwise in
furtherance of the purposes of the Act. If the Commission takes such
action, the Commission shall institute proceedings to determine whether
the proposed rule should be approved or disapproved.
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\31\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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
<bullet> Use the Commission's internet comment form (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#1260677e773f717d7f7f777c6661526177713c757d64"><span class="__cf_email__" data-cfemail="7103041d145c121e1c1c141f0502310214125f161e07">[email protected]</span></a>. Please include
file number SR-ISE-2024-18 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to Secretary, Securities
and Exchange
[[Page 43459]]
Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to file number SR-ISE-2024-18. 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 (<a href="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>). 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-ISE-2024-18 and should be
submitted on or before June 7, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\32\
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\32\ 17 CFR 200.30-3(a)(12).
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-10818 Filed 5-16-24; 8:45 am]
BILLING CODE 8011-01-P
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