Voglio sapere a riguardo di…

khammond on DSKJM1Z7X2PROD with NOTICES2

67814

Federal Register / Vol. 86, No. 226 / Monday, November 29, 2021 / Notices
Primary Listing Exchange from initiating transaction reports disseminated by the Processor in Eligible Securities during a Regulatory Halt in accordance with the calendar year. A transaction report the procedures specified herein.
with a dollar volume of $5,000 or more XII. Financial Matters shall constitute one qualified a Sharing of Income and Expenses.
transaction report. A transaction report Each CTA networks Participants shall with a dollar volume of less than $5,000
share in the income and expenses shall constitute a fraction of a qualified associated with the dissemination of transaction report that equals the dollar that CTA networks information in volume of the transaction report divided accordance with the provisions of this by $5,000.
Section XII. Except as otherwise iii Trading Share. The Trading Share indicated, each income, expense and of a Participant in an Eligible Security cost item, and each formula therefor shall be determined by multiplying i described in this Section XII, applies an amount equal to fifty percent of the separately to each of the two CTA
Security Income Allocation for the networks and its respective Participants. Eligible Security by ii the Participants The Annual Payments to any Trade Rating in the Eligible Security. A
Participant furnishing a CTA Networks Participants Trade Rating in an Eligible information to the Processor, and the Security shall be determined by taking Gross Income and Operating the average of A the Participants Expenses for each CTA network as percentage of the total dollar volume of defined in subsections b and c, transaction reports disseminated by the respectively, of this Section XII, shall Processor in the Eligible Security during be determined for each calendar year the calendar year, and B the and shall be determined as of the end Participants percentage of the total of each such calendar year.
number of qualified transaction reports i Annual Payments. As to each CTA
disseminated by the Processor in the network and notwithstanding any other Eligible Security during the calendar provision of this Plan, each Participant year. However, if a CTA networks eligible to receive distributable Net Participant has entered into a Income under the Plan shall receive an contractual relationship that grants to annual payment an Annual Payment the Participant the exclusive right to for each calendar year that is equal to trade an Eligible Security, or the the sum of the Participants Trading discretion to determine which other of Shares and Quoting Shares, as defined the CTA networks Participants may below, in each Eligible Security for the trade the Eligible Security, the calendar year.
transaction reports to which the ii Security Income Allocation. The previous sentence refers shall not Security Income Allocation for an include in the calculation of the Trade Eligible Security shall be determined by Rating transaction reports relating to the multiplying i the Net Income of this Eligible Security. For the purpose of CTA Plan for the calendar year by ii determining Trade Ratings, any the Volume Percentage for such Eligible transaction report of any of a CTA
Security the initial allocation, and networks Eligible Securities that the then adding or subtracting any amounts Processor disseminates by means of the specified in the reallocation set forth high speed line, which price is below. The Volume Percentage for an accompanied by a market identifier Eligible Security shall be determined by signifying that such transaction report dividing A the square root of the dollar relates to a completed ITS transaction, volume of transaction reports shall be deemed to have been reported disseminated by the Processor in such to the Processor by the Participant Eligible Security during the calendar which supplied the sell side of such year by B the sum of the square roots transaction.
of the dollar volume of transaction iv Quoting Share. The Quoting Share reports disseminated by the Processor in of a Participant in an Eligible Security each Eligible Security during the shall be determined by multiplying A
calendar year. If the initial allocation of an amount equal to fifty percent of the Net Income in accordance with the Security Income Allocation for the Volume Percentage of an Eligible Eligible Security by B the Participants Security equals an amount greater than Quote Rating in the Eligible Security. A
$4.00 multiplied by the total number of Participants Quote Rating in an Eligible qualified transaction reports in such Security shall be determined by Eligible Security during the calendar dividing A the sum of the Quote year, the excess amount shall be Credits earned by the Participant in subtracted from the initial allocation for such Eligible Security during the calendar year by B the sum of the such Eligible Security and reallocated Quote Credits earned by all Participants among all Eligible Securities in direct in such Eligible Security during the proportion to the dollar volume of
VerDate Sep<11>2014

17:01 Nov 26, 2021

Jkt 256001

PO 00000

Frm 00016

Fmt 4701

Sfmt 4703

calendar year. A Participant shall earn one Quote Credit for each second of time with a minimum of one full second multiplied by dollar value of size that an automated best bid offer transmitted by the Participant to the Processor during regular trading hours is equal to the price of the national best bid offer in the Eligible Security and does not lock or cross a previously displayed automated quotation. An automated bid offer shall have the meaning specified in Rule 600 of Regulation NMS of the Act for an automated quotation. The dollar value of size of a quote shall be determined by multiplying the price of a quote by its size.
v Net Income. Each CTA networks Operating Expenses attributable to any calendar year as defined in Section XIIc shall be deducted from that CTA
networks Gross Income attributable to that calendar year as defined in Section XIIb. The balance after such deduction shall be such CTA networks Net Income attributable to such calendar year.
vi Allocation to Participants. A CTA
networks Net Income, if any, attributable to each calendar year, whether a positive above zero amount or a negative amount below zero, shall be allocated among all of that CTA
networks Participants according to the sum of their respective Trading Shares and Quoting Shares as determined for that calendar year.
vii Payments. As soon as reasonably complete income and expense figures are available for each calendar quarter, each networks administrator shall A
determine the cumulative year-to-date Net Income for its CTA network as at the end of such calendar quarter the current Net Income and B distribute in accordance with section XIIavi that portion of the current Net Income if any as has not theretofore been distributed. Following the availability of audited financial statements for each calendar year, each networks administrator shall 1 calculate the difference if any between its CTA
networks actual Net Income for the calendar year and the sum of the amount distributed or apportioned pursuant to the preceding sentence and 2 distribute such difference in accordance with Section XIIavi. In the case of any negative below zero amount of Net Income i.e., a deficit, each Participant in the affected CTA
network shall pay, promptly following billing therefor, its Trading Shares and Quoting Shares in each Eligible Security for the calendar year.
viii Recordkeeping and reporting.
Each CTA networks administrator with
E:FRFM29NON2.SGM

29NON2