This site displays a prototype of a “Web 2.0” version of the daily
Federal Register. It is not an official legal edition of the Federal
Register, and does not replace the official print version or the official
electronic version on GPO’s govinfo.gov.
The documents posted on this site are XML renditions of published Federal
Register documents. Each document posted on the site includes a link to the
corresponding official PDF file on govinfo.gov. This prototype edition of the
daily Federal Register on FederalRegister.gov will remain an unofficial
informational resource until the Administrative Committee of the Federal
Register (ACFR) issues a regulation granting it official legal status.
For complete information about, and access to, our official publications
and services, go to
About the Federal Register
on NARA's archives.gov.
The OFR/GPO partnership is committed to presenting accurate and reliable
regulatory information on FederalRegister.gov with the objective of
establishing the XML-based Federal Register as an ACFR-sanctioned
publication in the future. While every effort has been made to ensure that
the material on FederalRegister.gov is accurately displayed, consistent with
the official SGML-based PDF version on govinfo.gov, those relying on it for
legal research should verify their results against an official edition of
the Federal Register. Until the ACFR grants it official status, the XML
rendition of the daily Federal Register on FederalRegister.gov does not
provide legal notice to the public or judicial notice to the courts.
Notice
Enter a search term or FR citation e.g.
88 FR 38230 FR 78782024-13208USDA09/05/24RULE0503-AA39SORN
Choosing an item from
full text search results
will bring you to those results. Pressing enter in the search box
will also bring you to search results.
Choosing an item from
suggestions
will bring you directly to the content.
Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan To Address Extraordinary Market Volatility To Add the Long-Term Stock Exchange LLC as a Participant
This table of contents is a navigational tool, processed from the
headings within the legal text of Federal Register documents.
This repetition of headings to form internal navigation links
has no substantive legal effect.
(i) the official closing price of a stock as reported by the listing market for such NMS Stock ("Closing Price"); and (ii) the consolidated last round lot sale as of 7:45 p.m. Eastern Time, with the Overnight Lower Price Band being 20% lower than the lower of the reference prices, and the Overnight Upper Price Band being 20% greater than the greater of the reference prices; the Overnight Percentage Parameter for a leveraged ETP will be 20%, multiplied by the ETP's leverage ratio.\14\ For NMS Stocks with a Closing Price of less than $1.00, the minimum Overnight Upper Price Band and minimum Overnight Lower Price Band thresholds will each be $1.00 from the applicable reference price; for NMS Stocks with a Closing Price of $1.00 or more, the minimum Overnight Upper Price Band and minimum Overnight Lower Price Band thresholds will each be $3.00 from the applicable reference price.\15\ The Minimum Price Band thresholds for a leveraged ETP will be multiplied by the leverage ratio of such product.\16\
Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Plan To Address Extraordinary Market Volatility To Add the Long-Term Stock Exchange LLC as a Participant
Document page views are updated periodically throughout the day and are
cumulative counts for this document. Counts are subject to sampling,
reprocessing and revision (up or down) throughout the day.
Page views
86
as of
09/08/2026 at 8:15 am EDT
Other Formats
Enhanced Content - Other Formats
This document is also available in the following formats:
This PDF is FR Doc. 2020-02633 as it appeared on Public Inspection on
02/10/2020 at 8:45 am.
If you are using public inspection listings for legal research, you
should verify the contents of the documents against a final, official
edition of the Federal Register. Only official editions of the
Federal Register provide legal notice of publication to the public and judicial notice
to the courts under 44 U.S.C. 1503 & 1507.
Learn more here.
Published Document: 2020-02633 (85 FR 7805)
This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.
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 November 20, 2019, Long-Term Stock Exchange LLC (“LTSE” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) an amendment to the Plan to Address Extraordinary Market Volatility (“LULD Plan” or “Plan”) as a Participant.[3]
The
( printed page 7806)
amendment adds LTSE as a Participant [4]
to the LULD Plan. The Commission is publishing this notice to solicit comments on the amendment from interested persons.
I. Description and Purpose of the Amendment
On May 10, 2019, the Commission issued an order granting LTSE's application for registration as a national securities exchange.[5]
As noted above, the proposed amendment adds LTSE as a Participant to the LULD Plan.
Under Section II(C) of the LULD Plan, any entity registered as a national securities exchange or national securities association under the Exchange Act may become a Participant by: (1) Becoming a participant in the applicable Market Data Plans; (2) executing a copy of the Plan, as then in effect; (3) providing each then-current Participant with a copy of such executed Plan; and (4) effecting an amendment to the Plan as specified in Section III (B) of the Plan. Section III(B) of the LULD Plan sets forth the process for a prospective new Participant to effect an amendment of the Plan. Specifically, the LULD 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 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.
LTSE has become a participant in the applicable Market Data Plans,[6]
executed a copy of the Plan currently in effect, with the only change being the addition of its name in Section II(A) of the Plan, and has provided a copy of the Plan executed by LTSE to each of the other Participants. LTSE has also submitted the executed Plan to the Commission. Accordingly, all of the Plan requirements for effecting an amendment to the Plan to add LTSE as a Participant have been satisfied.
II. Effectiveness of the Proposed Amendment
The foregoing Plan amendment has become effective pursuant to Rule 608(b)(3)(iii) [7]
because it involves solely technical or ministerial matters.
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:
Send an email torule-comments@sec.gov.
Please include File Number 4-631 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.
February 5, 2020.
All submissions should refer to File Number 4-631. 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 proposed plan 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 20549-1090 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 4-631and should be submitted on or before March 3, 2020.
3.
See
Letter from Howard Steinberg, General Counsel, LTSE, dated November 18, 2019, to Vanessa Countryman, Secretary, Commission. On May 6, 2012, the Commission issued an order approving the Plan on a pilot basis (the “Approval
Order”).
See
Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6, 2012). The Commission approved the LULD Plan on a permanent basis on April 11, 2019.
See
Securities Exchange Act Release No. 85623, 84 FR 16079 (April 17, 2019).
6.
See
Letter from Robert Books, Chairman, Operating Committee, CTA/CQ Plans, to Vanessa Countryman, Secretary, Commission, dated October 23, 2018 [sic]to Vanessa Countryman, Secretary, SEC, from Robert Books (relating to Thirty-Second Substantive Amendment to the Second Restatement of the CTA Plan and Twenty-Third Substantive Amendment to the Restated CQ Plan adding LTSE as a participant) and letter from Robert Books, Chairman, Operating Committee, UTP Plan, to Vanessa Countryman, Secretary, Commission, dated October 23, 2019 (relating to Forty-Sixth Amendment to the UTP Plan adding LTSE as a participant).