2018-13766. Consolidated Tape Association; Notice of Filing and Immediate Effectiveness of the Twenty-Ninth Substantive Amendment to the Second Restatement of the CTA Plan and the Twenty-First Amendment to the Restated CQ Plan  

  • Start Preamble June 21, 2018.

    Pursuant to Section 11A of the Securities Exchange Act of 1934 (“Act”),[1] and Rule 608 thereunder,[2] notice is hereby given that on June 5, 2018, the Consolidated Tape Association (“CTA”) Plan participants (“Participants”) [3] filed with the Securities and Exchange Commission (“Commission”) a proposal to amend the Second Restatement of the CTA Plan and the Restated Consolidated Quotation (“CQ”) Plan (“Plans”).[4] These amendments represent the Twenty-Ninth Substantive Amendment to the CTA Plan and the Twenty-First Amendment to the CQ Plan (“Amendments”). The Amendments seek to effectuate changes that certain Participants have made to their names and addresses, as set forth in Sections Start Printed Page 30210I(q), III(a), and VIII(a) of the CTA Plan and Section III(a) of the CQ Plan.

    Pursuant to Rule 608(b)(3)(ii) under Regulation NMS,[5] the Participants have designated the Amendments as concerned solely with the administration of the Plans and as “Ministerial Amendments” under both Section IV(b) of the CTA Plan and Section IV(c) of the CQ Plan. As a result, the Amendments were effective upon filing and were submitted by the Chairman of the Plan's Operating Committee. The Commission is publishing this notice to solicit comments from interested persons on the proposed Amendments. Set forth in Sections I and II is the statement of the purpose and summary of the Amendments, along with the information required by Rules 608(a) and 601(a) under the Act, prepared and submitted by the Participants to the Commission.

    I. Rule 608(a)

    A. Purpose of the Amendments

    The Amendments effectuate changes that certain Participants have made to their names and addresses, as set forth in Sections I(q), III(a), and VIII(a) of the CTA Plan and Section III(a) of the CQ Plan.

    B. Governing or Constituent Documents

    Not applicable.

    C. Implementation of the Amendments

    Because the Amendments constitute “Ministerial Amendments” under both Section IV(b) of the CTA Plan and Section IV(c) under the CQ Plan, the Chairman of the Plan's Operating Committee may submit the Amendments to the Commission on behalf of the Participants in the Plans. Because the Participants have designated the Amendments as concerned solely with the administration of the Plans, the Amendments become effective upon filing with the Commission.

    D. Development and Implementation Phases

    Not applicable.

    E. Analysis of Impact on Competition

    The Participants assert that the Amendments do not impose any burden on competition because they simply effectuate a change in the names and addresses of certain Participants. For the same reasons, the Participants do not believe that the Amendments introduce terms that are unreasonably discriminatory for purposes of Section 11A(c)(1)(D) of the Exchange Act.

    F. Written Understanding or Agreements Relating to Interpretation of, or Participation in, Plan

    Not applicable.

    G. Approval by Sponsors in Accordance With Plan

    See Item I.C. above.

    H. Description of Operation of Facility Contemplated by the Proposed Amendments

    Not applicable.

    I. Terms and Conditions of Access

    Not applicable.

    J. Method of Determination and Imposition, and Amount of, Fees and Charges

    Not applicable.

    K. Method and Frequency of Processor Evaluation

    Not applicable.

    L. Dispute Resolution

    Not applicable.

    II. Rule 601(a)

    A. Equity Securities for Which Transaction Reports Shall Be Required by the Plan

    Not applicable.

    B. Reporting Requirements

    Not applicable.

    C. Manner of Collecting, Processing, Sequencing, Making Available and Disseminating Last Sale Information

    Not applicable.

    D. Manner of Consolidation

    Not applicable.

    E. Standards and Methods Ensuring Promptness, Accuracy and Completeness of Transaction Reports

    Not applicable.

    F. Rules and Procedures Addressed to Fraudulent or Manipulative Dissemination

    Not applicable.

    G. Terms of Access to Transaction Reports

    Not applicable.

    H. Identification of Marketplace of Execution

    Not applicable.

    III. Solicitation of Comments

    The Commission seeks general comments on the Amendments. Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed Amendments are consistent with the Act. Comments may be submitted by any of the following methods:

    Electronic Comments

    Paper Comments

    • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

    All submissions should refer to File Number SR-CTA/CQ-2018-02. 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 website (http://www.sec.gov/​rules/​sro.shtml). Copies of the submission, all written statements with respect to the proposed Amendments that are filed with the Commission, and all written communications relating to the proposed Amendments 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 website viewing and printing at the principal office of the Plans. 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-CTA/CQ-2018-02 and should be submitted on or before July 18, 2018.

    Start Signature

    By the Commission.

    Eduardo A. Aleman,

    Assistant Secretary.

    End Signature End Preamble

    Footnotes

    3.  The Participants are: Cboe BYX Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; Cboe Exchange, Inc.; Chicago Stock Exchange, Inc.; Financial Industry Regulatory Authority, Inc.; Investors Exchange LLC; Nasdaq BX, Inc.; Nasdaq ISE, LLC; Nasdaq PHLX LLC; The Nasdaq Stock Market LLC; New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE American LLC; and NYSE National, Inc. (collectively, the “Participants”).

    Back to Citation

    4.  See Securities Exchange Act Release Nos. 10787 (May 10, 1974), 39 FR 17799 (May 20, 1974) (declaring the CTA Plan effective); 15009 (July 28, 1978), 43 FR 34851 (August 7, 1978) (temporarily authorizing the CQ Plan); and 16518 (January 22, 1980), 45 FR 6521 (January 28, 1980) (permanently authorizing the CQ Plan). The most recent restatement of both Plans was in 1995. The CTA Plan, pursuant to which markets collect and disseminate last sale price information for non-NASDAQ listed securities, is a “transaction reporting plan” under Rule 601 under the Act, 17 CFR 242.601, and a “national market system plan” under Rule 608 under the Act, 17 CFR 242.608. The CQ Plan, pursuant to which markets collect and disseminate bid/ask quotation information for listed securities, is a “national market system plan” under Rule 608 under the Act, 17 CFR 242.608.

    Back to Citation

    [FR Doc. 2018-13766 Filed 6-26-18; 8:45 am]

    BILLING CODE 8011-01-P

Document Information

Published:
06/27/2018
Department:
Securities and Exchange Commission
EntryType:
Notice
Document Number:
2018-13766
Pages:
30209-30210 (2 pages)
Docket Numbers:
Release No. 34-83492, File No. SR-CTA/CQ-2018-02
E.O. Citation:
of 6/21/2018
SectionNoes:
PDF File:
2018-13766.pdf