Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 3304, 11031-11033 [2021-03544]
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Federal Register / Vol. 86, No. 34 / Tuesday, February 23, 2021 / Notices
proposed change would not impose a
disparate burden on competition among
market participants on the Exchange. As
such, the Exchange believes the
proposed new pricing tier would not
impose any burden on intramarket
competition that is not necessary or
appropriate in furtherance of the
purposes of the Act. The Exchange does
not believe the proposed rule change
places a burden on competition among
participants that are not affiliated with
an OTP Holder or OTP Firm with a
market maker account on NYSE Arca
Options because such participants can
avail themselves to credits available
under other Tape B pricing tiers that do
not require participation on NYSE Arca
Options. Additionally, the Exchange’s
proposal to delete the phrases ‘‘to the
Book,’’ ‘‘from the Book,’’ and ‘‘outside
the Book’’ from the Fee Schedule will
not place any undue burden on
intramarket competition that is not
necessary or appropriate in furtherance
of the purposes of the Act because the
proposed change does not impact any
fees charged or credits provided by the
Exchange. All ETP Holders would
continue to be subject to the same fees
and credits that currently apply to them.
Intermarket Competition. The
Exchange operates in a highly
competitive market in which market
participants can readily choose to send
their orders to other exchange and offexchange venues if they deem fee levels
at those other venues to be more
favorable. As noted above, the
Exchange’s market share of intraday
trading (i.e., excluding auctions) is
currently less than 10%. In such an
environment, the Exchange must
continually adjust its fees and rebates to
remain competitive with other
exchanges and with off-exchange
venues. Because competitors are free to
modify their own fees and credits in
response, and because market
participants may readily adjust their
order routing practices, the Exchange
does not believe its proposed fee change
can impose any burden on intermarket
competition.
The Exchange believes that the
proposed rule change could promote
competition between the Exchange and
other execution venues, including those
that currently offer similar order types
and comparable transaction pricing, by
encouraging additional orders to be sent
to the Exchange for execution.
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 foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 21 of the Act and
subparagraph (f)(2) of Rule 19b–4 22
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
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) 23 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:
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–
NYSEARCA–2021–12 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–NYSEARCA–2021–12 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
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
23 15 U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
18:36 Feb 22, 2021
Jkt 253001
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–NYSEARCA–2021–12 and
should be submitted on or before March
16, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.24
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–03547 Filed 2–22–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91142; File No. SR–Phlx–
2021–08]
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 3304
February 17, 2021.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
4, 2021, Nasdaq PHLX LLC (‘‘Phlx’’ or
‘‘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 Exchange. The Commission is
publishing this notice to solicit
21 15
24 17
22 17
1 15
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
11031
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
E:\FR\FM\23FEN1.SGM
23FEN1
11032
Federal Register / Vol. 86, No. 34 / Tuesday, February 23, 2021 / Notices
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 3304 (Data Feeds Utilized) to
change the primary and secondary
source of quotation data of certain
market centers in the list of proprietary
and network processor feeds that the
Exchange utilizes for the handling,
routing, and execution of orders as well
as regulatory compliance processes
related to those functions.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/phlx/rules, 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
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.
1. Purpose
The Exchange proposes to update and
amend the data feeds table in Rule 3304,
which sets forth on a market-by-market
basis the specific proprietary and
network processor feeds that the
Exchange utilizes for the handling,
routing, and execution of orders, and for
performing the regulatory compliance
processes related to each of those
functions. Specifically, the table would
be amended to reflect that the Exchange
will receive a direct feed from MIAX
PEARL, LLC (‘‘MIAX PEARL’’) and
MEMX LLC (‘‘MEMX’’) as its primary
quotation data source and CQS/UQDF
will become its secondary data source
for the handling, routing and execution
of orders and for performing regulatory
compliance processes related to each of
those functions. The change to the
primary sources reflects the Exchange’s
effort to include an additional source
and the use of secondary sources in the
18:36 Feb 22, 2021
Jkt 253001
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,3 in general, and furthers the
objectives of Section 6(b)(5) of the Act,4
in particular, in that it is designed to
promote just and equitable principles of
trade, 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 that the
proposed rule change removes
impediments to and perfects the
mechanism of a free and open market
because updating its data feeds table of
market centers for which the exchange
consumes quotation data through a
direct feed will provide clarity to market
participants. Additionally, it is
necessary and consistent with the
public interest and the protection of
investors to update the Exchange’s table
of market centers in Rule 3304 in order
to provide transparency with respect to
all the direct proprietary and network
processor feeds from which the
Exchange obtains market data.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
VerDate Sep<11>2014
event the primary source is unable to
provide data.
The Exchange proposes to implement
the proposed rule change no later than
ninety (90) days following the effective
date of the proposed rule change. The
Exchange notes this additional time
gives the Exchange time to configure its
system accordingly.
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is not designed to
address any competitive issue; instead,
its purpose is to enhance transparency
with respect to the operation of the
Exchange and its use of market data
feeds.
C. Self-Regulatory Organization’s
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
Because the foregoing proposed rule
change does not: (i) Significantly affect
3 15
4 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00114
Fmt 4703
Sfmt 4703
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 5 and Rule 19b–
4(f)(6) thereunder.6
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 shall 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–
Phlx–2021–08 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–Phlx–2021–08. 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
5 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
6 17
E:\FR\FM\23FEN1.SGM
23FEN1
Federal Register / Vol. 86, No. 34 / Tuesday, February 23, 2021 / Notices
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–Phlx–2021–08 and should
be submitted on or before March 16,
2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–03544 Filed 2–22–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91145; File No. SR–
EMERALD–2021–05]
Self-Regulatory Organizations; MIAX
Emerald, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fee
Schedule To Establish Market Data
Fees
February 17, 2021.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on February
4, 2021, MIAX Emerald, LLC (‘‘MIAX
Emerald’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘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.
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
18:36 Feb 22, 2021
Jkt 253001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend the MIAX Emerald Fee Schedule
(the ‘‘Fee Schedule’’) to establish market
data fees.
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxoptions.com/rulefilings/emerald, at MIAX’s principal
office, 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
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
Fee Schedule to establish market data
fees. MIAX Emerald commenced
operations as a national securities
exchange registered under Section 6 of
the Act 3 on March 1, 2019.4 The
Exchange adopted its transaction fees
and certain of its non-transaction fees in
its filing SR–EMERALD–2019–15.5 In
that filing, the Exchange expressly
waived, among others, market data fees
to provide an incentive to prospective
market participants to become
Members 6 of the Exchange. At that
time, the Exchange waived market data
fees for the Waiver Period 7 and stated
3 15
U.S.C. 78f.
Securities Exchange Act Release No. 84891
(December 20, 2018), 83 FR 67421 (December 28,
2018) (File No. 10–233) (order approving
application of MIAX Emerald, LLC for registration
as a national securities exchange).
5 See Securities Exchange Act Release No. 85393
(March 21, 2019), 84 FR 11599 (March 27, 2019)
(SR–EMERALD–2019–15) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
To Establish the MIAX Emerald Fee Schedule).
6 ‘‘Member’’ means an individual or organization
approved to exercise the trading rights associated
with a Trading Permit. Members are deemed
‘‘members’’ under the Exchange Act. See Exchange
Rule 100 and the Definitions Section of the Fee
Schedule.
7 ‘‘Waiver Period’’ means, for each applicable fee,
the period of time from the initial effective date of
4 See
PO 00000
Frm 00115
Fmt 4703
Sfmt 4703
11033
that it would provide notice to market
participants when the Exchange
intended to terminate the Waiver
Period.
On September 15, 2020, the Exchange
issued a Regulatory Circular which
announced, among other things, that the
Exchange would be ending the Waiver
Period for market data fees, beginning
October 1, 2020.8
On October 1, 2020, the Exchange
filed its proposal to assess fees for its
market data products, MIAX Emerald
Top of Market (‘‘ToM’’), Administrative
Information Subscriber (‘‘AIS’’) feed,
and MIAX Order Feed (‘‘MOR’’).9 On
October 14, 2020, the Exchange
withdrew the First Proposed Rule
Change and refiled its proposal in order
to provide more description regarding
the difference in pricing for internal
distributors and external distributors.10
On November 25, 2020, the Exchange
withdrew the Second Proposed Rule
Change 11 and refiled its proposal to
assess fees for its ToM, AIS and MOR
products in order to provide additional
information.12 On January 22, 2021, the
Exchange withdrew the Third Proposed
Rule Change 13 and refiled its proposal
in order to provide a cost-based
justification for its market data fees.14
On February 4, 2021, the Exchange
withdrew the Fourth Proposed Rule
Change and refiled this proposal.
A more detailed description of the
ToM, AIS and MOR products can be
the MIAX Emerald Fee Schedule until such time
that the Exchange has an effective fee filing
establishing the applicable fee. The Exchange will
issue a Regulatory Circular announcing the
establishment of an applicable fee that was subject
to a Waiver Period at least fifteen (15) days prior
to the termination of the Waiver Period and
effective date of any such applicable fee. See the
Definitions Section of the Fee Schedule.
8 See MIAX Emerald Regulatory Circular 2020–41
available at https://www.miaxoptions.com/sites/
default/files/circular-files/MIAX_Emerald_RC_
2020_41.pdf.
9 See SR–EMERALD–2020–10 (the ‘‘First
Proposed Rule Change’’).
10 See Securities Exchange Act Release No. 90274
(October 27, 2020), 85 FR 69371 (November 2, 2020)
(SR–EMERALD–2020–13) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change
To Amend Its Fee Schedule To Establish Market
Data Fees) (the ‘‘Second Proposed Rule Change’’).
11 See Comment Letter from Joseph W. Ferraro III,
SVP, Deputy General Counsel, the Exchange, dated
November 20, 2020, notifying the Commission that
the Exchange will withdraw the Second Proposed
Rule Change.
12 See Securities Exchange Act Release No. 90612
(December 9, 2020), 85 FR 81242 (December 15,
2020) (SR–EMERALD–2020–16) (the ‘‘Third
Proposed Rule Change’’).
13 See Comment Letter from Joseph W. Ferraro III,
SVP, Deputy General Counsel, the Exchange, dated
January 19, 2021, notifying the Commission that the
Exchange will withdraw the Third Proposed Rule
Change.
14 See SR–EMERALD–2021–04 (the ‘‘Fourth
Proposed Rule Change’’).
E:\FR\FM\23FEN1.SGM
23FEN1
]]>Agencies
[Federal Register Volume 86, Number 34 (Tuesday, February 23, 2021)]
[Notices]
[Pages 11031-11033]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-03544]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-91142; File No. SR-Phlx-2021-08]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Rule 3304
February 17, 2021.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on February 4, 2021, Nasdaq PHLX LLC (``Phlx'' or ``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 Exchange. The Commission is publishing this
notice to solicit
[[Page 11032]]
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 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 3304 (Data Feeds Utilized) to
change the primary and secondary source of quotation data of certain
market centers in the list of proprietary and network processor feeds
that the Exchange utilizes for the handling, routing, and execution of
orders as well as regulatory compliance processes related to those
functions.
The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/phlx/rules, 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 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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to update and amend the data feeds table in
Rule 3304, which sets forth on a market-by-market basis the specific
proprietary and network processor feeds that the Exchange utilizes for
the handling, routing, and execution of orders, and for performing the
regulatory compliance processes related to each of those functions.
Specifically, the table would be amended to reflect that the Exchange
will receive a direct feed from MIAX PEARL, LLC (``MIAX PEARL'') and
MEMX LLC (``MEMX'') as its primary quotation data source and CQS/UQDF
will become its secondary data source for the handling, routing and
execution of orders and for performing regulatory compliance processes
related to each of those functions. The change to the primary sources
reflects the Exchange's effort to include an additional source and the
use of secondary sources in the event the primary source is unable to
provide data.
The Exchange proposes to implement the proposed rule change no
later than ninety (90) days following the effective date of the
proposed rule change. The Exchange notes this additional time gives the
Exchange time to configure its system accordingly.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\3\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\4\ in particular, in that it is designed to promote
just and equitable principles of trade, 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.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change removes
impediments to and perfects the mechanism of a free and open market
because updating its data feeds table of market centers for which the
exchange consumes quotation data through a direct feed will provide
clarity to market participants. Additionally, it is necessary and
consistent with the public interest and the protection of investors to
update the Exchange's table of market centers in Rule 3304 in order to
provide transparency with respect to all the direct proprietary and
network processor feeds from which the Exchange obtains market data.
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 not necessary or appropriate in
furtherance of the purposes of the Act. The proposed rule change is not
designed to address any competitive issue; instead, its purpose is to
enhance transparency with respect to the operation of the Exchange and
its use of market data feeds.
C. Self-Regulatory Organization's 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
Because the foregoing 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 for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \5\ and Rule 19b-
4(f)(6) thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------
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 shall 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 [email protected]. Please include
File Number SR-Phlx-2021-08 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-Phlx-2021-08. 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
[[Page 11033]]
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-Phlx-2021-08 and should be submitted on
or before March 16, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-03544 Filed 2-22-21; 8:45 am]
BILLING CODE 8011-01-P
