Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7.37E To Specify the Exchange's Source of Data Feeds From MIAX PEARL, LLC, 58099-58101 [2020-20478]
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jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 85, No. 181 / Thursday, September 17, 2020 / Notices
market depth, facilitates tighter spreads
and enhances price discovery, and may
lead to a corresponding increase in
order flow from other market
participants, which, in turn, benefits all
market participants.
The Exchange also does not believe
that the proposed fees will impose any
burden on intermarket competition that
is not necessary or appropriate in
furtherance of the Act because, as noted
above, competing options exchanges,
and the Exchange, currently have
substantially similar fees in place in
connection with strategy orders 12 and
orders executed in open outcry.13
Additionally, and as previously
discussed, the Exchange operates in a
highly competitive market. TPHs have
numerous alternative venues that they
may participate on and direct their
order flow, including 15 other options
exchanges, many of which offer
substantially similar price improvement
auctions. Based on publicly available
information, no single options exchange
has more than 16% of the market
share.14 Therefore, no exchange
possesses significant pricing power in
the execution of option order flow.
Indeed, participants can readily choose
to send their orders to other exchange,
and, additionally off-exchange venues,
if they deem fee levels at those other
venues to be more favorable. Moreover,
the Commission has repeatedly
expressed its preference for competition
over regulatory intervention in
determining prices, products, and
services in the securities markets.
Specifically, in Regulation NMS, the
Commission highlighted the importance
of market forces in determining prices
and SRO revenues and, also, recognized
that current regulation of the market
system ‘‘has been remarkably successful
in promoting market competition in its
broader forms that are most important to
investors and listed companies.’’ 15 The
fact that this market is competitive has
also long been recognized by the courts.
In NetCoalition v. Securities and
Exchange Commission, the D.C. Circuit
stated as follows: ‘‘[n]o one disputes
that competition for order flow is
‘fierce.’ . . . As the SEC explained, ‘[i]n
the U.S. national market system, buyers
and sellers of securities, and the brokerdealers that act as their order-routing
agents, have a wide range of choices of
where to route orders for execution’;
[and] ‘no exchange can afford to take its
market share percentages for granted’
because ‘no exchange possesses a
monopoly, regulatory or otherwise, in
the execution of order flow from broker
dealers’. . . .’’.16 Accordingly, the
Exchange does not believe its proposed
fee change imposes any burden on
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 17 and paragraph (f) of Rule
19b–4 18 thereunder. At any time within
60 days of the filing of the proposed rule
change, the Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission will institute proceedings
to determine whether the proposed rule
change should be approved or
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.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CBOE–2020–084 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.
All submissions should refer to File
Number SR–CBOE–2020–084. This file
16 NetCoalition
12 See
supra note 9.
supra note 8.
14 See supra note 3.
15 See Securities Exchange Act Release No. 51808
(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005).
13 See
VerDate Sep<11>2014
17:37 Sep 16, 2020
Jkt 250001
v. SEC, 615 F.3d 525, 539 (D.C.
Cir. 2010) (quoting Securities Exchange Act Release
No. 59039 (December 2, 2008), 73 FR 74770, 74782–
83 (December 9, 2008) (SR–NYSEArca–2006–21)).
17 15 U.S.C. 78s(b)(3)(A).
18 17 CFR 240.19b–4(f).
PO 00000
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Sfmt 4703
58099
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 (https://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 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
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 SR–CBOE–2020–084 and
should be submitted on or before
October 8, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–20473 Filed 9–16–20; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–89833; File No. SR–
NYSEAMER–2020–67]
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 7.37E To
Specify the Exchange’s Source of Data
Feeds From MIAX PEARL, LLC
September 11, 2020.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
19 17
1 15
E:\FR\FM\17SEN1.SGM
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
17SEN1
58100
Federal Register / Vol. 85, No. 181 / Thursday, September 17, 2020 / Notices
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on
September 3, 2020, NYSE American
LLC (‘‘NYSE American’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.37E to specify the Exchange’s
source of data feeds from MIAX PEARL,
LLC (‘‘MIAX PEARL’’) for purposes of
order handling, order execution, order
routing, and regulatory compliance. The
proposed rule change is available on the
Exchange’s website at www.nyse.com, at
the principal office of the Exchange, and
at the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
jbell on DSKJLSW7X2PROD with NOTICES
1. Purpose
The Exchange proposes to update and
amend the use of data feeds table in
Rule 7.37E, which sets forth on a
market-by-market basis the specific
securities information processor (‘‘SIP’’)
and proprietary data feeds that the
Exchange utilizes for the handling,
execution, and routing of orders, and for
performing the regulatory compliance
checks related to each of those
functions. Specifically, the Exchange
proposes to amend the table in Rule
7.37E(d) to specify that, for MIAX
PEARL, the Exchange will receive the
SIP feed as its primary source of data for
3 17
U.S.C. 78a.
CFR 240.19b–4.
VerDate Sep<11>2014
17:37 Sep 16, 2020
Jkt 250001
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the Act,6
in general, and furthers the objectives of
Section 6(b)(5),7 in particular, because it
is designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities, to
remove impediments to, and perfect the
mechanism of, a free and open market
and a national market system and, in
general, to protect investors and the
public interest. The Exchange believes
its proposal to amend the table in Rule
7.37E(d) to include the data feed source
for MIAX PEARL will ensure that Rule
7.37E correctly identifies and publicly
states on a market-by-market basis all of
the specific SIP and proprietary data
feeds that the Exchange utilizes for the
handling, execution, and routing of
orders, and for performing the
regulatory compliance checks for each
of those functions. The proposed rule
change also removes impediments to
and perfects the mechanism of a free
and open market and protects investors
and the public interest by providing
additional specificity, clarity, and
transparency in the Exchange’s rules.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
2 15
order handling, order execution, order
routing, and regulatory compliance.4
The Exchange will not have a secondary
source for data from MIAX PEARL.
The Exchange proposes that this
proposed rule change would be
operative on the day that MIAX PEARL
launches operations as an equities
exchange, which is currently expected
on September 25, 2020.5
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 purposes of the Act. The
proposed change is not designed to
address any competitive issue, but
rather would provide the public and
market participants with up-to-date
information about the data feeds the
Exchange will use for the handling,
execution, and routing of orders, as well
as for regulatory compliance.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and Rule
19b–4(f)(6) thereunder.9 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 10 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),11 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest. The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Commission believes that
waiver of the 30-day operative delay is
consistent with the protection of
investors and the public interest, as
doing so will ensure that the rule
change becomes operative on or before
the day that MIAX PEARL launches
operations as an equities exchange,
thereby providing transparency to
market participants regarding the source
of MIAX PEARL quotation and trade
data the Exchange will use for order
handling, order execution, order
routing, and regulatory compliance.
Accordingly, the Commission hereby
waives the operative delay and
designates the proposed rule change
operative upon filing.12
8 15
4 The
Exchange also proposes an additional nonsubstantive change to correct a typographical error
in the table.
5 See https://www.miaxoptions.com/sites/default/
files/press_release-files/MIAX_Press_Release_
08182020.pdf.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00068
Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6)(iii).
12 For purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
9 17
E:\FR\FM\17SEN1.SGM
17SEN1
Federal Register / Vol. 85, No. 181 / Thursday, September 17, 2020 / Notices
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 13 of the Act to
determine whether the proposed rule
change should be approved or
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.
Comments may be submitted by any of
the following methods:
jbell on DSKJLSW7X2PROD with NOTICES
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEAMER–2020–67 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.
All submissions should refer to File
Number SR–NYSEAMER–2020–67. 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 (https://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 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
13 15
U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
17:37 Sep 16, 2020
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 SR–NYSEAMER–2020–67 and
should be submitted on or before
October 8, 2020.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020–20478 Filed 9–16–20; 8:45 am]
BILLING CODE 8011–01–P
Jkt 250001
Sunshine Act Meetings
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENTS: 85 FR 51106, August
19, 2020 and 85 FR 53898, August 31,
2020.
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETINGS: Wednesday, September 2,
2020 and September 16, 2020 at 10:00
a.m.
The Open
Meeting scheduled for Wednesday,
September 16, 2020 at 10:00 a.m. has
been postponed to Wednesday,
September 23, 2020 at 10:00 a.m. The
following additional matter, previously
scheduled for consideration on
September 2, 2020, will also be
considered during the Open Meeting:
• The Commission will consider
whether to adopt amendments to the
Commission’s rules implementing its
whistleblower program that would
enhance claim processing efficiency,
and clarify and bring greater
transparency to the framework used by
the Commission in exercising its
discretion in determining award
amounts, as well as otherwise address
specific issues that have developed
during the whistleblower program’s
history. The amendments reflect the
Commission’s experience administering
the program over the past decade. The
Commission will also consider whether
to adopt interpretive guidance
concerning the term ‘‘independent
analysis’’ in the Commission’s rules
implementing its whistleblower
program.
CHANGES IN THE MEETING:
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CFR 200.30–3(a)(12).
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Fmt 4703
CONTACT PERSON FOR MORE INFORMATION:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed, please contact the
Office of the Secretary at (202) 551–
5400.
Dated: September 15, 2020.
Vanessa A. Countryman,
Secretary.
[FR Doc. 2020–20679 Filed 9–15–20; 4:15 pm]
BILLING CODE 8011–01–P
DEPARTMENT OF TRANSPORTATION
Federal Highway Administration
Notice of Final Federal Agency Actions
on Proposed Highway in Utah
Federal Highway
Administration (FHWA), Department of
Transportation, Utah Department of
Transportation (UDOT).
ACTION: Notice of limitations on claims
for judicial review of actions by UDOT
and other Federal agencies.
AGENCY:
SECURITIES AND EXCHANGE
COMMISSION
14 17
58101
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The FHWA, on behalf of
UDOT, is issuing this notice to
announce actions taken by UDOT that
are final Federal agency actions. The
final agency actions relate to a proposed
highway project, improvements to the
Parley’s Interchange at Interstate 80 (I–
80) and Interstate 215 (I–215) in Salt
Lake County, State of Utah. Those
actions grant licenses, permits and/or
approvals for the project. The UDOT’s
Record of Decision provides details on
the Selected Alternative for the
proposed improvements.
DATES: By this notice, FHWA, on behalf
of UDOT, is advising the public of final
agency actions subject to 23 U.S.C.
139(l)(1). A claim seeking judicial
review of the Federal agency actions on
the highway project will be barred
unless the claim is filed on or before
February 16, 2021. If the Federal law
that authorizes judicial review of a
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than 150 days for filing such claim, then
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FOR FURTHER INFORMATION CONTACT:
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email:nkisen@utah.gov. UDOT’s normal
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(Mountain Time Zone), Monday through
Friday, except State and Federal
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SUPPLEMENTARY INFORMATION: Effective
January 17, 2017, FHWA assigned to
UDOT certain responsibilities of FHWA
for environmental review, consultation,
SUMMARY:
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]]>Agencies
[Federal Register Volume 85, Number 181 (Thursday, September 17, 2020)]
[Notices]
[Pages 58099-58101]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-20478]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-89833; File No. SR-NYSEAMER-2020-67]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Rule 7.37E To Specify the Exchange's Source of Data Feeds From MIAX
PEARL, LLC
September 11, 2020.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934
[[Page 58100]]
(``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that
on September 3, 2020, NYSE American LLC (``NYSE American'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule 7.37E to specify the Exchange's
source of data feeds from MIAX PEARL, LLC (``MIAX PEARL'') for purposes
of order handling, order execution, order routing, and regulatory
compliance. The proposed rule change is available on the Exchange's
website at www.nyse.com, at the principal office of the Exchange, and
at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to update and amend the use of data feeds
table in Rule 7.37E, which sets forth on a market-by-market basis the
specific securities information processor (``SIP'') and proprietary
data feeds that the Exchange utilizes for the handling, execution, and
routing of orders, and for performing the regulatory compliance checks
related to each of those functions. Specifically, the Exchange proposes
to amend the table in Rule 7.37E(d) to specify that, for MIAX PEARL,
the Exchange will receive the SIP feed as its primary source of data
for order handling, order execution, order routing, and regulatory
compliance.\4\ The Exchange will not have a secondary source for data
from MIAX PEARL.
---------------------------------------------------------------------------
\4\ The Exchange also proposes an additional non-substantive
change to correct a typographical error in the table.
---------------------------------------------------------------------------
The Exchange proposes that this proposed rule change would be
operative on the day that MIAX PEARL launches operations as an equities
exchange, which is currently expected on September 25, 2020.\5\
---------------------------------------------------------------------------
\5\ See https://www.miaxoptions.com/sites/default/files/press_release-files/MIAX_Press_Release_08182020.pdf.
---------------------------------------------------------------------------
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Act,\6\ in general, and furthers the objectives of Section 6(b)(5),\7\
in particular, because it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to, and perfect the mechanism of, a free and open market
and a national market system and, in general, to protect investors and
the public interest. The Exchange believes its proposal to amend the
table in Rule 7.37E(d) to include the data feed source for MIAX PEARL
will ensure that Rule 7.37E correctly identifies and publicly states on
a market-by-market basis all of the specific SIP and proprietary data
feeds that the Exchange utilizes for the handling, execution, and
routing of orders, and for performing the regulatory compliance checks
for each of those functions. The proposed rule change also removes
impediments to and perfects the mechanism of a free and open market and
protects investors and the public interest by providing additional
specificity, clarity, and transparency in the Exchange's rules.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's 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 purposes of the Act. The proposed change is not
designed to address any competitive issue, but rather would provide the
public and market participants with up-to-date information about the
data feeds the Exchange will use for the handling, execution, and
routing of orders, as well as for regulatory compliance.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\11\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Commission believes
that waiver of the 30-day operative delay is consistent with the
protection of investors and the public interest, as doing so will
ensure that the rule change becomes operative on or before the day that
MIAX PEARL launches operations as an equities exchange, thereby
providing transparency to market participants regarding the source of
MIAX PEARL quotation and trade data the Exchange will use for order
handling, order execution, order routing, and regulatory compliance.
Accordingly, the Commission hereby waives the operative delay and
designates the proposed rule change operative upon filing.\12\
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\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6)(iii).
\12\ For purposes only of waiving the 30-day operative delay,
the Commission also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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[[Page 58101]]
At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \13\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\13\ 15 U.S.C. 78s(b)(2)(B).
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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. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
File Number SR-NYSEAMER-2020-67 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.
All submissions should refer to File Number SR-NYSEAMER-2020-67. 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 (https://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 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 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 SR-NYSEAMER-2020-67 and should be submitted
on or before October 8, 2020.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-20478 Filed 9-16-20; 8:45 am]
BILLING CODE 8011-01-P
