Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To List and Trade Options on a Nasdaq-100® Volatility Index, 67781-67782 [2020-23568]

Download as PDF Federal Register / Vol. 85, No. 207 / Monday, October 26, 2020 / Notices encourages electronic comment submission through the Federal Rulemaking website: • Federal Rulemaking Website: Go to https://www.regulations.gov and search for Docket ID NRC–2020–0148. Address questions about Docket IDs in Regulations.gov to Jennifer Borges; telephone: 301–287–9127; email: Jennifer.Borges@nrc.gov. For technical questions, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section of this document. • Mail comments to: Office of Administration, Mail Stop: TWFN–7– A60M, U.S. Nuclear Regulatory Commission, Washington, DC 20555– 0001, ATTN: Program Management, Announcements and Editing Staff. For additional direction on obtaining information and submitting comments, see ‘‘Obtaining Information and Submitting Comments’’ in the SUPPLEMENTARY INFORMATION section of this document. FOR FURTHER INFORMATION CONTACT: Scott P. Wall, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington DC 20555– 0001, telephone: 301–415–2855; email: Scott.Wall@nrc.gov. SUPPLEMENTARY INFORMATION: I. Obtaining Information and Submitting Comments A. Obtaining Information Please refer to Docket ID NRC–2020– 0148 when contacting the NRC about the availability of information for this action. You may obtain publicly available information related to this action by any of the following methods: • Federal Rulemaking Website: Go to https://www.regulations.gov and search for Docket ID NRC–2020–0148. • NRC’s Agencywide Documents Access and Management System (ADAMS): You may obtain publicly available documents online in the ADAMS Public Documents collection at https://www.nrc.gov/reading-rm/ adams.html. To begin the search, select ‘‘Begin Web-based ADAMS Search.’’ For problems with ADAMS, please contact the NRC’s Public Document Room (PDR) reference staff at 1–800–397–4209, 301– 415–4737, or by email to pdr.resource@ nrc.gov. The ADAMS accession number for each document referenced (if it is available in ADAMS) is provided the first time that it is mentioned in this document. • Attention: The PDR, where you may examine and order copies of public documents is currently closed. You may submit your request to the PDR via email at PDR.Resource@nrc.gov or call 1–800–397–4209 between 8:00 a.m. and VerDate Sep<11>2014 17:31 Oct 23, 2020 Jkt 253001 4:00 p.m. (EST), Monday through Friday, except Federal holidays. B. Submitting Comments The NRC encourages electronic comment submission through the Federal Rulemaking Website (https:// www.regulations.gov). Please include Docket ID NRC–2020–0148 in your comment submission. The NRC cautions you not to include identifying or contact information that you do not want to be publicly disclosed in your comment submission. The NRC will post all comment submissions at https:// www.regulations.gov as well as enter the comment submissions into ADAMS. The NRC does not routinely edit comment submissions to remove identifying or contact information. If you are requesting or aggregating comments from other persons for submission to the NRC, then you should inform those persons not to include identifying or contact information that they do not want to be publicly disclosed in their comment submission. Your request should state that the NRC does not routinely edit comment submissions to remove such information before making the comment submissions available to the public or entering the comment into ADAMS. II. Discussion On June 19, 2020, the NRC solicited comments on the PSDAR dated April 2, 2020, including the site-specific DCE for DAEC (ADAMS Accession No. ML20094F603). The purpose of the original Federal Register notice (85 FR 37116; June 19, 2020) was to inform the public of a meeting to discuss and accept comments on the PSDAR and DCE. The public comment period closed on October 19, 2020. The NRC has decided to reopen the public comment period on this document until February 19, 2021, to allow more time for members of the public to submit their comments. The NRC will hold a public meeting to discuss the PSDAR’s content and receive comments once restrictions associated with the Coronavirus Disease 2019 public health emergency are lifted. Members of the public interested in attending this meeting should monitor the NRC’s Public Meeting Schedule website at https://www.nrc.gov/pmns/ mtg for additional information. Dated: October 20, 2020. PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 67781 For the Nuclear Regulatory Commission. Nancy L. Salgado, Chief, Plant Licensing Branch III, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [FR Doc. 2020–23564 Filed 10–23–20; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90226; File No. SR–Phlx– 2020–41] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To List and Trade Options on a Nasdaq-100® Volatility Index October 20, 2020. On August 24, 2020, Nasdaq PHLX LLC filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade options on a Nasdaq-100® Volatility Index. The proposed rule change was published for comment in the Federal Register on September 8, 2020.3 Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the Notice for the proposed rule change is October 23, 2020. The Commission is extending this 45-day period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, pursuant to 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 89725 (September 1, 2020), 85 FR 55544 (SR–Phlx–2020– 41) (‘‘Notice’’). Comment received on the Notice is available on the Commission’s website at: https:// www.sec.gov/comments/sr-phlx-2020-41/ srphlx202041.htm. 4 15 U.S.C. 78s(b)(2). 2 17 E:\FR\FM\26OCN1.SGM 26OCN1 67782 Federal Register / Vol. 85, No. 207 / Monday, October 26, 2020 / Notices Section 19(b)(2) of the Act,5 the Commission designates December 7, 2020, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR– Phlx–2020–41). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2020–23568 Filed 10–23–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90232; File No. SR–CBOE– 2020–097] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Amend Its Fees Schedule October 20, 2020. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on October 8, 2020, Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. 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 Cboe Exchange, Inc. (the ‘‘Exchange’’ or ‘‘Cboe Options’’) proposes to amend its Fees Schedule. The text of the proposed rule change is provided in Exhibit 5. The text of the proposed rule change is also available on the Exchange’s website (https://www.cboe.com/ AboutCBOE/CBOELegalRegulatory Home.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 5 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(31). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 6 17 VerDate Sep<11>2014 17:31 Oct 23, 2020 Jkt 253001 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 Exchange 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 these 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 aspects of such statements. exchanges from month to month demonstrates that market participants can shift order flow or discontinue to reduce use of certain categories of products in response to fee changes. Accordingly, competitive forces constrain the Exchange’s transaction fees, and market participants can readily trade on competing venues if they deem pricing levels at those other venues to be more favorable. In response to competitive pricing, the Exchange, like other options exchanges, offers rebates and assesses fees for certain order types executed on or routed through the Exchange. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Proposed Removal of Market-Maker Floor Volume From Assessment of Marketing Fees 1. Purpose The Exchange proposes to amend its Fees Schedule to (1) remove MarketMaker floor volume from the Marketing Fees assessment; (2) adopt a new fee code for Market-Maker volume executed on the floor; (3) remove Market-Maker floor volume eligibility for credits under certain programs; (4) amend the Clearing Trading Permit Holder Fee Cap; (5) reinstate certain facility fees currently waived in light of the COVID– 19 pandemic; (6) add options on the S&P 500 ESG Index (‘‘SPESG’’) to the same Customer Large Trade Discount assessed for options on the S&P 500 Index (‘‘SPX’’); and (7) amend the application of the Strategy Fees Cap to certain products, effective October 1, 2020.3 The Exchange first notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive or incentives to be insufficient. More specifically, the Exchange is only one of 16 options venues to which market participants may direct their order flow. Based on publicly available information, no single options exchange has more than 16% of the market share.4 Thus, in such a low-concentrated and highly competitive market, no single options exchange possesses significant pricing power in the execution of option order flow. The Exchange believes that the ever-shifting market share among the 3 The Exchange initially filed the proposed fee changes on October 1, 2020 (SR–CBOE–2020–093). On October 8, 2020, the Exchange withdrew that filing and submitted this filing. 4 See Cboe Global Markets U.S. Options Monthly Market Volume Summary (September 29, 2020), available at https://markets.cboe.com/us/options/ market_statistics/. PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 The Exchange first proposes to amend its Marketing Fee program. By way of background the Marketing Fee is assessed on transactions of MarketMakers, resulting from customer orders at the per contract rate provided above on all classes of equity options, options on ETFs, options on ETNs and index options.5 A Designated Primary MarketMaker (‘‘DPM’’), a ‘‘Preferred Market-Maker (‘‘PMM’’), or a Lead Market-Maker (‘‘LMM’’) (collectively ‘‘Preferenced Market-Maker’’) are given access to the marketing fee funds generated from a Preferenced order. The funds collected via this Marketing Fee are then put into pools controlled by the Preferenced Market-Maker. The Preferenced Market-Maker controlling a certain pool of funds can then determine the order flow provider(s) to which the funds should be directed in order to encourage such order flow provider(s) to send orders to the Exchange. Currently, the Marketing Fee does not apply to Market-Maker transactions resulting from orders from non-Trading Permit Holder market-makers; transactions resulting from penny cabinet trades and subpenny cabinet trades; transactions in FLEX Options; transactions executed as a qualified contingent cross (‘‘QCC’’); and transactions in the Penny Pilot classes resulting from orders executed through the Step Up Mechanism (‘‘SUM’’). Each month, undisbursed marketing fees in excess of $250,000 will be reimbursed to the MarketMakers that contributed to the pool based upon a one month look back and their pro-rata portion of the entire amount of marketing fee collected during that month. 5 The marketing fee does not apply to Sector Indexes, DJX, MXEA, MXEF, XSP or products in Underlying Symbol List A. E:\FR\FM\26OCN1.SGM 26OCN1

Agencies

[Federal Register Volume 85, Number 207 (Monday, October 26, 2020)]
[Notices]
[Pages 67781-67782]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23568]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90226; File No. SR-Phlx-2020-41]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change To List and Trade Options on a Nasdaq-100[supreg] Volatility 
Index

October 20, 2020.
    On August 24, 2020, Nasdaq PHLX LLC filed with the Securities and 
Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to list and trade options on a 
Nasdaq-100[supreg] Volatility Index. The proposed rule change was 
published for comment in the Federal Register on September 8, 2020.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 89725 (September 1, 
2020), 85 FR 55544 (SR-Phlx-2020-41) (``Notice''). Comment received 
on the Notice is available on the Commission's website at: https://www.sec.gov/comments/sr-phlx-2020-41/srphlx202041.htm.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day after publication of the Notice for the proposed rule change 
is October 23, 2020. The Commission is extending this 45-day period.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change. 
Accordingly, pursuant to

[[Page 67782]]

Section 19(b)(2) of the Act,\5\ the Commission designates December 7, 
2020, as the date by which the Commission shall either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-Phlx-2020-41).
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    \5\ 15 U.S.C. 78s(b)(2).
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-23568 Filed 10-23-20; 8:45 am]
BILLING CODE 8011-01-P
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