Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Options 4, Section 5, To Limit Short Term Options Series Intervals Between Strikes Which Are Available for Quoting and Trading on BX, 86590-86591 [2020-28894]

Download as PDF 86590 Federal Register / Vol. 85, No. 250 / Wednesday, December 30, 2020 / Notices accurately or that other unusual conditions or circumstances are present that could be detrimental to the maintenance of a fair and orderly market. The Exchange will require periodic certification from the issuer of a series of Exchange-Traded Fund Shares that it is in compliance with Rule 6c–11 and the requirements of Rule 5.2(j)(8). In addition, the Exchange, on a periodic basis will review issues of Exchange-Traded Fund Shares listed on the Exchange for compliance with the requirements of Rule 6c–11(c)(1). Proposed Rule 5.2(j)(8)(e) would require an issuer of Exchange-Traded Fund Shares to notify the Exchange if it is no longer eligible to operate in reliance on Rule 6c–11 or that it does not comply with the requirements of proposed Rule 5.2(j)(8) (except for subparagraph (1)(A) of Rule 5.2(j)(8)(e)). For the foregoing reasons, the Exchange believes that the proposal is consistent with the Act. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action B. Self-Regulatory Organization’s Statement on Burden on Competition Electronic Comments In accordance with Section 6(b)(8) of the Act,25 the Exchange believes that the proposed rule change would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Instead, the Exchange believes that the proposed rule change would facilitate the listing and trading of Exchange-Traded Fund Shares and result in an efficient process surrounding the listing and trading of Exchange-Traded Fund Shares, which will enhance competition among market participants, to the benefit of investors and the marketplace. The Exchange also believes that the proposed change will reduce the time frame for bringing Exchange-Traded Fund Shares to market, thereby reducing the burdens on issuers and other market participants and promoting competition. In turn, the Exchange believes that the proposed change would make the process for listing Exchange-Traded Fund Shares more competitive by applying uniform listing standards to Exchange-Traded Fund Shares. 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. 25 15 U.S.C. 78f(b)(8). VerDate Sep<11>2014 17:47 Dec 29, 2020 Jkt 253001 Within 45 days of the date of publication of this notice in the Federal Register or 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 self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of 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– NYSE–2020–86 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–NYSE–2020–86. 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 Frm 00062 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.26 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2020–28804 Filed 12–29–20; 8:45 am] 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: PO 00000 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–NYSE–2020–86, and should be submitted on or before January 21, 2021. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90796; File No. SR–BX– 2020–032] Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Amend Options 4, Section 5, To Limit Short Term Options Series Intervals Between Strikes Which Are Available for Quoting and Trading on BX December 23, 2020. On November 6, 2020, Nasdaq BX, Inc. (‘‘BX’’ or ‘‘Exchange’’) 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 amend Options 4, Section 5, ‘‘Series of Options Contracts Open for Trading’’ to seek to limit Short Term Options Series intervals between strikes which are available for quoting and trading on BX. The proposed rule change was published for comment in the Federal Register on November 16, 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 26 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 90384 (November 9, 2020), 85 FR 73113 (November 16, 2020). Comments on the proposed rule change can be found at https://www.sec.gov/comments/sr-bx2020-032/srbx2020032.htm. 4 15 U.S.C. 78s(b)(2). 1 15 E:\FR\FM\30DEN1.SGM 30DEN1 Federal Register / Vol. 85, No. 250 / Wednesday, December 30, 2020 / Notices 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 this proposed rule change is December 31, 2020. The Commission is extending this 45-day time period. The Commission finds it 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, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates February 14, 2021, 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–BX–2020– 032). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2020–28894 Filed 12–29–20; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90785] Acknowledgement of Receipt of Notice of Registration as a National Securities Exchange Pursuant to Section 6(g) of the Securities Exchange Act of 1934 by the Minneapolis Grain Exchange, LLC than security futures products or futures on exempted securities or groups or indexes of securities or options thereon that have been authorized under Section 2(a)(1)(C) of the CEA.3 Rule 6a–4 under the Exchange Act 4 requires that such an exchange submit written notice of registration to the Commission on Form 1–N.5 Under Exchange Act Section 6(g)(2)(B), an exchange’s registration as a national securities exchange becomes effective contemporaneously with the submission of the written notice on Form 1–N.6 On December 11, 2020, the Minneapolis Grain Exchange, LLC (‘‘MGEX’’) filed a Form 1–N with the Commission.7 Pursuant to Section 6(g)(3) of the Exchange Act,8 the Commission hereby acknowledges receipt of the Form 1–N submitted by MGEX. Copies of the Form 1–N, including all exhibits, are available in the Commission’s Public Reference Room. For questions regarding this Release, please contact David Dimitrious, Senior Special Counsel, at (202) 551–5131, Michou Nguyen, Special Counsel, at (202) 551–7768, or Eli Kozminsky, Attorney-Adviser, at (202) 551–7695; Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2020–28810 Filed 12–29–20; 8:45 am] BILLING CODE 8011–01–P December 22, 2020. Section 6(g) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 provides that an exchange that lists or trades security futures products may register as a national securities exchange solely for the purposes of trading security futures products by filing a written notice with the Securities and Exchange Commission (‘‘Commission’’) if: (1) The exchange is a board of trade, as that term is defined by the Commodity Exchange Act (‘‘CEA’’),2 that has been designated a contract market by the Commodity Futures Trading Commission (‘‘CFTC’’) and such designation is not suspended by order of the CFTC; and (2) such exchange does not serve as a market place for transactions in securities other 5 Id. 6 17 CFR 200.30–3(a)(31). U.S.C. 78f(g). 2 7 U.S.C. 1a(2). 1 15 VerDate Sep<11>2014 17:47 Dec 29, 2020 Jkt 253001 37 U.S.C. 2(a)(1)(C). CFR 240.6a–4. 5 Under Rule 202.3(b)(3) of the Commission’s Informal and Other Procedures, upon receipt of a Form 1–N, the Division of Market Regulation (now the Division of Trading and Markets) examines the notice to determine whether all necessary information has been supplied and whether all other required documents have been furnished in proper form. 17 CFR 202.3(b)(3). 6 15 U.S.C. 78f(g)(2)(B). 7 This Form 1–N is being filed by MGEX in connection with a Commission exemptive order issued under Section 36 of the Exchange Act. See Securities Exchange Act Release No. 90510 (November 20, 2020), 85 FR 77297 (December 1, 2020) (‘‘Exemptive Order’’). The Exemptive Order relates to listing and trading contracts for sale for future delivery on the SPIKES Index on MGEX consistent with the terms and conditions set forth in the order. 8 15 U.S.C. 78f(g)(3). 9 17 CFR 200.30–3(a)(75). 4 17 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 86591 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–90794; File No. SR–FICC– 2020–017] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Designation of Longer Period for Commission Action and Longer Period for Comment on Proposed Rule Change To Modify the Calculation of the MBSD VaR Floor To Incorporate a Minimum Margin Amount December 23, 2020. On November 20, 2020, Fixed Income Clearing Corporation (‘‘FICC’’) 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 proposed rule change SR–FICC–2020–017 to introduce a new ‘‘Minimum Margin Amount’’ to complement the existing VaR Floor calculation.3 The proposed rule change was published for comment in the Federal Register on December 10, 2020.4 As of December 23, 2020, the Commission has received five comment letters to the proposed rule change.5 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 On November 27, 2020, FICC also filed the proposal contained in the proposed rule change as advance notice SR–FICC–2020–804 with the Commission pursuant to Section 806(e)(1) of the Dodd-Frank Wall Street Reform and Consumer Protection Act entitled the Payment, Clearing, and Settlement Supervision Act of 2010 (‘‘Clearing Supervision Act’’), 12 U.S.C. 5465(e)(1), and Rule 19b–4(n)(1)(i) of the Act, 17 CFR 240.19b–4(n)(1)(i). 4 Securities Exchange Act Release No. 90568 (December 4, 2020), 85 FR 79541 (December 10, 2020) (SR–FICC–2020–017) (‘‘Notice’’). 5 See Letter from Kelli McMorrow, Head of Government Affairs, American Securities Association, dated December 18, 2020, to Vanessa Countryman, Secretary, Commission, available at https://www.sec.gov/comments/sr-ficc-2020-017/ srficc2020017.htm (‘‘ASA Letter’’); Letter from Pete Mills, Senior Vice President, Mortgage Bankers Association, dated December 17, 2020, to Jay Clayton, Chairman, Commission, available at https://www.sec.gov/comments/sr-ficc-2020-017/ srficc2020017-8155338-226778.pdf (‘‘MBA Letter’’); Letter from Christopher Killian, Managing Director, Securities Industry and Financial Markets Association, dated December 16, 2020, to Vanessa Countryman, Secretary, Commission, available at https://www.sec.gov/comments/sr-ficc-2020-017/ srficc2020017-8154310-226759.pdf (‘‘SIFMA Letter’’); Letter from Curtis Richins, President & CEO, Mortgage Capital Trading, Inc., dated December 15, 2020, to Vanessa Countryman, Secretary, Commission, available at https:// www.sec.gov/comments/sr-ficc-2020-017/ srficc2020017-8156568-226839.pdf (‘‘MCT Letter’’); and Letter from James Tabacchi, Chairman, Independent Dealer and Trader Association, dated December 10, 2020, to Vanessa Countryman, Secretary, Commission, available at https:// www.sec.gov/comments/sr-ficc-2020-017/ srficc2020017-8127766-226454.pdf (‘‘IDTA Letter’’). See comments on the proposed rule change (SR– 2 17 E:\FR\FM\30DEN1.SGM Continued 30DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 85, Number 250 (Wednesday, December 30, 2020)]
[Notices]
[Pages 86590-86591]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28894]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90796; File No. SR-BX-2020-032]


Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Amend Options 4, Section 5, To Limit Short Term Options 
Series Intervals Between Strikes Which Are Available for Quoting and 
Trading on BX

December 23, 2020.
    On November 6, 2020, Nasdaq BX, Inc. (``BX'' or ``Exchange'') 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 amend 
Options 4, Section 5, ``Series of Options Contracts Open for Trading'' 
to seek to limit Short Term Options Series intervals between strikes 
which are available for quoting and trading on BX. The proposed rule 
change was published for comment in the Federal Register on November 
16, 2020.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 90384 (November 9, 
2020), 85 FR 73113 (November 16, 2020). Comments on the proposed 
rule change can be found at https://www.sec.gov/comments/sr-bx-2020-032/srbx2020032.htm.
---------------------------------------------------------------------------

    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

[[Page 86591]]

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 
this proposed rule change is December 31, 2020. The Commission is 
extending this 45-day time period.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it 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, the 
Commission, pursuant to Section 19(b)(2) of the Act,\5\ designates 
February 14, 2021, 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-BX-2020-032).
---------------------------------------------------------------------------

    \5\ Id.
    \6\ 17 CFR 200.30-3(a)(31).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2020-28894 Filed 12-29-20; 8:45 am]
BILLING CODE 8011-01-P

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