[Federal Register Volume 85, Number 149 (Monday, August 3, 2020)]
[Notices]
[Pages 46746-46747]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16806]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-89418; File No. 4-518]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan Establishing Procedures Under Rule 605 of 
Regulation NMS To Add the MEMX LLC as a Participant

July 29, 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 July 6, 2020, MEMX LLC (``MEMX'' or

[[Page 46747]]

``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') \3\ an amendment to the national market system plan 
establishing procedures under Rule 605 of Regulation NMS (``Plan'').\4\ 
The amendment adds MEMX as a Participant \5\ to the Plan. The 
Commission is publishing this notice to solicit comments on the 
amendment from interested persons.
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    \1\ 15 U.S.C 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ See Letter from Anders Franzon, General Counsel, MEMX LLC, 
to Vanessa A. Countryman, Secretary, Commission, dated July 6, 2020.
    \4\ 17 CFR 242.605. On April 12, 2001, the Commission approved a 
national market system plan for the purpose of establishing 
procedures for market centers to follow in making their monthly 
reports available to the public under Rule 11Ac1-5 under the Act (n/
k/a Rule 605 of Regulation NMS). See Securities Exchange Act Release 
No. 44177 (April 12, 2001), 66 FR 19814 (April 17, 2001).
    \5\ The term ``Participant'' is defined as a party to the Plan.
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I. Description and Purpose of the Plan Amendment

    As noted above, the sole proposed amendment to the Plan is to add 
the Exchange as a Participant. On May 4, 2020, the Commission issued an 
order granting MEMX's application for registration as a national 
securities exchange.\6\ A condition of the Commission's approval was 
the requirement for MEMX to join the Plan.
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    \6\ See Securities Exchange Act Release No. 88806 (May 4, 2020), 
85 FR 27451 (May 8, 2020).
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    Under Section II(c) of the Plan, any entity registered as a 
national securities exchange or national securities association under 
the Act may become a Participant by: (i) Executing a copy of the Plan, 
as then in effect; (ii) providing each then-current Participant with a 
copy of such executed Plan; and (iii) effecting an amendment to the 
Plan as specified in Section III(b) of the Plan. Section III(b) of the 
Plan sets forth the process for a prospective new Participant to effect 
an amendment of the Plan. Specifically, the Plan provides that such an 
amendment to the Plan may be effected by the new national securities 
exchange or national securities association by executing a copy of the 
Plan, as then in effect (with the only changes being the addition of 
the new Participant's name in Section II(a) of the Plan and the new 
Participant's single-digit code in Section VI(a)(1) of the Plan) and 
submitting such executed Plan to the Commission. The amendment will be 
effective when it is approved by the Commission in accordance with Rule 
608 of Regulation NMS, or otherwise becomes effective pursuant to Rule 
608 of Regulation NMS.
    MEMX has executed a copy of the Plan currently in effect, with the 
only changes being the addition of its name in Section II(a) of the 
Plan and adding its single-digit code in Section VI(a)(1) of the Plan, 
and has provided a copy of the Plan executed by MEMX to each of the 
other Participants. MEMX has also submitted the executed Plan to the 
Commission. Accordingly, all of the Plan requirements for effecting an 
amendment to the Plan to add MEMX as a Participant have been satisfied.

II. Effectiveness of the Proposed Plan Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) of the Act \7\ 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,\8\ 
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.
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    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(a)(1).
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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 [email protected]. Please include 
File Number 4-518 on the subject line.

Paper Comments

     Send paper comments in triplicate to Vanessa A. 
Countryman, Secretary, Securities and Exchange Commission, 100 F Street 
NE, Washington, DC 20549-1090.

All submissions should refer to File Number 4-518. 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 plan amendment that are filed 
with the Commission, and all written communications relating to the 
amendment 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 such filing also will be available for inspection 
and copying at the principal office of the MEMX. 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 4-518 and should be submitted on or before 
August 24, 2020.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-16806 Filed 7-31-20; 8:45 am]
BILLING CODE 8011-01-P