Federal Register - September 9, 2021
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Source: Federal Register
lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 172 / Thursday, September 9, 2021 / Notices NAV, within appropriate ranges, for each of the four previous calendar quarters.
Additionally, information regarding market price and trading of the Shares will be continually available on a realtime basis throughout the day on brokers computer screens and other electronic services, and quotation and last sale information for the Shares will be available on the facilities of the CTA.
The Trusts website will include a form of the prospectus for the Trust and additional data relating to NAV and other applicable quantitative information. Trading in Shares of the Trust will be halted under the conditions specified in Nasdaq Rule 4120b. Trading may also be halted because of market conditions or for reasons that, in the view of the Exchange, make trading in the Shares inadvisable. Finally, trading in the Shares will be subject to Nasdaq Rule 4120a9, which sets forth circumstances under which Shares of the Trust may be halted and delisting proceedings commenced. In addition, as noted above, investors will have ready access to information regarding the Trusts holdings, the Intraday Indicative Value, the Disclosed Portfolio, and quotation and last sale information for the Shares.
Intraday price quotations on Money Market Instruments of the type held by the Trust are available from major broker-dealer firms and from thirdparties, which may provide prices free with a time delay, or live with a paid fee. For Bitcoin Futures, such intraday information is available directly from the applicable listing venue. Intraday price information is also available through subscription services, such as Bloomberg and Thomson Reuters, which can be accessed by authorized participants and other investors. Pricing information related to Money Market Instruments will be available through issuer websites and publicly available quotation services such as Bloomberg, Markit and Thomson Reuters.
The proposed rule change is designed to perfect the mechanism of a free and open market and, in general, to protect investors and the public interest in that it will facilitate the listing and trading of additional types of actively-managed exchange-traded products that will enhance competition among market participants, to the benefit of investors and the marketplace. As noted above, the Exchange has in place surveillance procedures relating to trading in the Shares and may obtain information via ISG from other exchanges that are members of ISG or with which the Exchange has entered into a
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comprehensive surveillance sharing agreement as well as trade information for certain fixed income instruments as reported to FINRAs TRACE. Not more than 10% of the net assets of the Trust in the aggregate invested in Bitcoin Futures shall consist of Bitcoin Futures whose principal market is not a member of the ISG or with which the Exchange has in place a comprehensive surveillance sharing agreement. In addition, as noted above, investors will have ready access to information regarding the Trusts holdings, the Intraday Indicative Value, the Disclosed Portfolio, and quotation and last sale information for the Shares.
For the above reasons, the Exchange believes that the proposed rule change is consistent with the requirements of Section 6b5 of the Act.
B. Self-Regulatory Organizations Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purpose of the Act. The Exchange notes that the proposed rule change rather will facilitate the listing and trading of additional actively-managed exchange-traded products that will enhance competition among both market participants and listing venues, to the benefit of investors and the marketplace.
C. Self-Regulatory Organizations 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 Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days i as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or ii as to which the Exchange consents, the Commission will: a By order approve or disapprove such proposed rule change, or b institute proceedings to determine whether the proposed rule change should be 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.
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Comments may be submitted by any of the following methods:
Electronic Comments Use the Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
NASDAQ2021066 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRNASDAQ2021066. 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 Commissions 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 Commissions 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 SRNASDAQ2021066 and should be submitted on or before September 30, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.71
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202119420 Filed 9821; 8:45 am BILLING CODE 801101P
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