Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Nonstandard Expirations Pilot Program, 19050-19052 [2021-07387]

Download as PDF 19050 Federal Register / Vol. 86, No. 68 / Monday, April 12, 2021 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. IA–5714] Notice of Intention To Cancel Registrations of Certain Investment Advisers Pursuant to Section 203(H) of the Investment Advisers Act of 1940 khammond on DSKJM1Z7X2PROD with NOTICES April 6, 2021. Notice is given that the Securities and Exchange Commission (the ‘‘Commission’’) intends to issue an order or orders, pursuant to section 203(h) of the Investment Advisers Act of 1940 (the ‘‘Act’’), cancelling the registrations of the investment advisers whose names appear in the attached Appendix, hereinafter referred to as the ‘‘registrants.’’ Section 203(h) of the Act provides, in pertinent part, that if the Commission finds that any person registered under section 203, or who has pending an application for registration filed under that section, is no longer in existence, is not engaged in business as an investment adviser, or is prohibited from registering as an investment adviser under section 203A, the Commission shall, by order, cancel the registration of such person. Each registrant listed in the attached Appendix has not filed a Form ADV amendment with the Commission as required by rule 204–1 under the Act 1 and appears to be no longer engaged in business as an investment adviser. Accordingly, the Commission believes that reasonable grounds exist for a finding that these registrants are no longer in existence, are not engaged in business as investment advisers, or are prohibited from registering as investment advisers under section 203A, and that their registrations should be cancelled pursuant to section 203(h) of the Act. Notice is also given that any interested person may, by May 3, 2021, at 5:30 p.m. EST, submit to the Commission in writing a request for a hearing on the cancellation of the registration of any registrant listed in the attached Appendix, accompanied by a statement as to the nature of such person’s interest, the reason for such person’s request, and the issues, if any, of fact or law proposed to be controverted, and the writer may request to be notified if the Commission should order a hearing thereon. Any such communication should be emailed 1 Rule 204–1 under the Act requires any adviser that is required to complete Form ADV to amend the form at least annually and to submit the amendments electronically through the Investment Adviser Registration Depository. VerDate Sep<11>2014 21:37 Apr 09, 2021 Jkt 253001 to the Commission’s Secretary at Secretarys-Office@sec.gov. At any time after May 3, 2021, the Commission may issue an order or orders cancelling the registrations of any or all of the registrants listed in the attached Appendix, upon the basis of the information stated above, unless an order or orders for a hearing on the cancellation shall be issued upon request or upon the Commission’s own motion. Persons who requested a hearing, or who requested to be advised as to whether a hearing is ordered, will receive any notices and orders issued in this matter, including the date of the hearing (if ordered) and any postponements thereof. Any registrant whose registration is cancelled under delegated authority may appeal that decision directly to the Commission in accordance with rules 430 and 431 of the Commission’s rules of practice (17 CFR 201.430 and 431). The Commission: Secretarys-Office@sec.gov. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Christine Schleppegrell, Senior Counsel, at 202–551–6999; SEC, Division of Investment Management, Investment Adviser Regulation Office, 100 F Street NE, Washington, DC 20549–8549. For the Commission, by the Division of Investment Management, pursuant to delegated authority.2 J. Matthew DeLesDernier, Assistant Secretary. Appendix SEC number Full legal name 801–108515 ... BAOMAP ADVISORS LIMITED. HAITOU HUIJIN (BEIJING) CONSULTING SERVICE CO., LTD. NEW ENGINE ADVISORS LLC. QUANTSGEEK TECHNOLOGY LIMITED. SUNRATE ADVISORS LIMITED. UOOLU REALTY 1701 LLC. VIVA COMPANIONS ASSET MANAGEMENT LLC. 801–108574 ... 801–110184 ... 801–110822 ... 801–108384 ... 801–112060 ... 801–110416 ... [FR Doc. 2021–07358 Filed 4–9–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–91484; File No. SR–Phlx– 2021–21] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Nonstandard Expirations Pilot Program April 6, 2021. 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 April 1, 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 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 extend the pilot period for the Exchange’s nonstandard expirations pilot program, currently set to expire on May 4, 2021. 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 On December 15, 2017, the Commission approved a proposed rule 1 15 2 17 PO 00000 CFR 200.30–5(e)(2). Frm 00115 Fmt 4703 2 17 Sfmt 4703 E:\FR\FM\12APN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 12APN1 Federal Register / Vol. 86, No. 68 / Monday, April 12, 2021 / Notices change for the listing and trading on the Exchange, on a twelve month pilot basis, of p.m.-settled options on broadbased indexes with nonstandard expirations dates (‘‘Program’’).3 The Program permits both Weekly Expirations and End of Month (‘‘EOM’’) expirations similar to those of the a.m.settled broad-based index options, except that the exercise settlement value of the options subject to the pilot are based on the index value derived from the closing prices of component stocks. This pilot was extended various times and is currently extended through May 4, 2021.4 Pursuant to Phlx Options 4A, Section 12(b)(5)(A) the Exchange may open for trading Weekly Expirations on any broad-based index eligible for standard options trading to expire on any Monday, Wednesday, or Friday (other than the third Friday-of-the-month or days that coincide with an EOM expiration). Weekly Expirations are subject to all provisions of Options 4A, Section 12 and are treated the same as options on the same underlying index that expire on the third Friday of the expiration month. Unlike the standard monthly options, however, Weekly Expirations are p.m.-settled. Similarly, pursuant to Options 4A, Section 12(b)(5)(B) the Exchange may open for trading EOM expirations on any broad-based index eligible for standard options trading to expire on the last trading day of the month. EOM expirations are subject to all provisions of Options 4A, Section 12 and treated the same as options on the same underlying index that expire on the third Friday of the expiration month. However, the EOM expirations are p.m.settled. The Exchange now proposes to amend Options 4A, Section 12(b)(5)(C) so that the duration of the Program for these nonstandard expirations will be through November 4, 2021. The Exchange continues to have sufficient systems capacity to handle p.m.-settled options on broad-based indexes with nonstandard expirations dates and has khammond on DSKJM1Z7X2PROD with NOTICES 3 See Securities Exchange Act Release No. 82341 (December 15, 2017), 82 FR 60651 (December 21, 2017) (approving SR–Phlx–2017–79) (Order Approving a Proposed Rule Change, as Modified by Amendment No. 1 and Granting Accelerated Approval of Amendment No. 2, of a Proposed Rule Change To Establish a Nonstandard Expirations Pilot Program). 4 See Securities Exchange Act Release Nos. 84835 (December 17, 2018), 83 FR 65773 (December 21, 2018) (SR–Phlx–2018–80); 85669 (April 17, 2019), 84 FR 16913 (April 23, 2019) (SR–Phlx–2019–13); 87381 (October 22, 2019), 84 FR 57788 (October 28,2 019) (SR–Phlx–2019–43); 88684 (April 17, 2020), 85 FR 22781 (April 23, 2020) (SR–Phlx– 2020–24); and 90256 (October 22, 2020), 85 FR 68393 (October 28, 2020) (SR–Phlx–2020–48). VerDate Sep<11>2014 21:37 Apr 09, 2021 Jkt 253001 not encountered any issues or adverse market effects as a result of listing them. Additionally, there is continued investor interest in these products. The Exchange will continue to make public on its website any data and analysis it submits to the Commission under the Program. The Exchange will be submitting a rule change to request that the pilot program become permanent. In lieu of submitting any additional annual reports, the Exchange would provide additional information requested by the Commission in connection with the permanency rule change for this Program. The Exchange believes that the proposed extension of the Program will not have an adverse impact on capacity. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,5 in general, and furthers the objectives of Section 6(b)(5) of the Act,6 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 the proposed rule change will protect investors and the public interest by providing the Exchange, the Commission and investors the benefit of additional time to analyze nonstandard expiration options. In particular, the Exchange believes that the Program has been successful to date. The Exchange has not encountered any problems with the Program. By extending the Program, investors may continue to benefit from a wider array of investment opportunities. Additionally, both the Exchange and the Commission may continue to monitor the potential for adverse market effects of p.m.settlement on the market, including the underlying cash equities market, at the expiration of these options. 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. Options with nonstandard expirations would be available for trading to all market participants. 5 15 6 15 PO 00000 U.S.C. 78f(b). U.S.C. 78f(b)(5). Frm 00116 Fmt 4703 Sfmt 4703 19051 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 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 7 and subparagraph (f)(6) of Rule 19b–4 thereunder.8 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– Phlx–2021–21 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. 7 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule19b– 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. 8 17 E:\FR\FM\12APN1.SGM 12APN1 19052 Federal Register / Vol. 86, No. 68 / Monday, April 12, 2021 / Notices All submissions should refer to File Number SR–Phlx–2021–21. 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 (http://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–Phlx–2021–21, and should be submitted on or before May 3, 2021. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–07387 Filed 4–9–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting; Cancellation FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: 86 FR 17649, April 5, 2021. khammond on DSKJM1Z7X2PROD with NOTICES PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, April 8, 2021 at 2:00 p.m. The Closed Meeting scheduled for Thursday, April 8, 2021 at 2:00 p.m., has been cancelled. CONTACT PERSON FOR MORE INFORMATION: For further information; please contact CHANGES IN THE MEETING: Vanessa A. Countryman from the Office of the Secretary at (202) 551–5400. Dated: April 8, 2021. Eduardo A. Aleman, Deputy Secretary. [FR Doc. 2021–07557 Filed 4–8–21; 4:15 pm] BILLING CODE 8011–01–P CFR 200.30–3(a)(12). VerDate Sep<11>2014 21:37 Apr 09, 2021 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–91485; File No. SR–ISE– 2021–05] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot To Permit the Listing and Trading of Options Based on 1⁄5 the Value of the Nasdaq–100 Index April 6, 2021. 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 March 24, 2021, Nasdaq ISE, LLC (‘‘ISE’’ 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 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 extend the pilot to permit the listing and trading of options based on 1⁄5 the value of the Nasdaq–100 Index (‘‘Nasdaq–100’’) currently set to expire on May 4, 2021. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/ise/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 2 17 Jkt 253001 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose 1 15 9 17 forth in sections A, B, and C below, of the most significant aspects of such statements. PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00117 Fmt 4703 Sfmt 4703 ISE filed a proposed rule change to permit the listing and trading of index options on the Nasdaq 100 Reduced Value Index (‘‘NQX’’) on a twelve month pilot basis 3 (‘‘Program’’). NQX options trade independently of and in addition to NDX options, and the NQX options are subject to the same rules that presently govern the trading of index options based on the Nasdaq– 100, including sales practice rules, margin requirements, trading rules, and position and exercise limits. Similar to NDX, NQX options are European-style and cash-settled, and have a contract multiplier of 100. The contract specifications for NQX options mirror in all respects those of the NDX options contract listed on the Exchange, except that NQX options are based on 1⁄5 of the value of the Nasdaq–100, and are P.M.settled pursuant to Options 4A, Section 12(a)(6). The Exchange proposes to amend ISE Options 4A, Section 12(a)(6) to extend the current NQX pilot period to November 4, 2021. This pilot was previously extended with the last extension through May 4, 2021.4 The Exchange continues to have sufficient capacity to handle additional quotations and message traffic associated with the proposed listing and trading of NQX options. In addition, index options are integrated into the Exchange’s existing surveillance system architecture and are thus subject to the relevant surveillance processes. The Exchange also continues to have adequate surveillance procedures to monitor trading in NQX options thereby aiding in the maintenance of a fair and orderly market. Additionally, there is continued investor interest in these products and this extension will provide additional time to collect data related to the pilot. The Exchange believes that the proposed extension of the Program will not have an adverse impact on capacity. 3 See Securities Exchange Act Release No. 82911 (March 20, 2018), 83 FR 12966 (March 26, 2018) (SR–ISE–2017–106) (Approval Order). 4 See Securities Exchange Act Release Nos.86071 (June 10, 2019), 84 FR 27822 (June 14, 2019) (SR– ISE–2019–18); 87379 (October 22, 2019), 84 FR 57793 (October 28, 2019) (SR–ISE–2019–27); 88683 (April 17, 2020), 85 FR 22768 (April 23, 2020) (SR– ISE–2020–18); and 90257 (October 22, 2020), 85 FR 68387 (October 28, 2020) (SR–ISE–2020–33). E:\FR\FM\12APN1.SGM 12APN1

Agencies

[Federal Register Volume 86, Number 68 (Monday, April 12, 2021)]
[Notices]
[Pages 19050-19052]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07387]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91484; File No. SR-Phlx-2021-21]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Extend the 
Nonstandard Expirations Pilot Program

April 6, 2021.
    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 April 1, 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 comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to extend the pilot period for the Exchange's 
nonstandard expirations pilot program, currently set to expire on May 
4, 2021.
    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
    On December 15, 2017, the Commission approved a proposed rule

[[Page 19051]]

change for the listing and trading on the Exchange, on a twelve month 
pilot basis, of p.m.-settled options on broad-based indexes with 
nonstandard expirations dates (``Program'').\3\ The Program permits 
both Weekly Expirations and End of Month (``EOM'') expirations similar 
to those of the a.m.-settled broad-based index options, except that the 
exercise settlement value of the options subject to the pilot are based 
on the index value derived from the closing prices of component stocks. 
This pilot was extended various times and is currently extended through 
May 4, 2021.\4\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 82341 (December 15, 
2017), 82 FR 60651 (December 21, 2017) (approving SR-Phlx-2017-79) 
(Order Approving a Proposed Rule Change, as Modified by Amendment 
No. 1 and Granting Accelerated Approval of Amendment No. 2, of a 
Proposed Rule Change To Establish a Nonstandard Expirations Pilot 
Program).
    \4\ See Securities Exchange Act Release Nos. 84835 (December 17, 
2018), 83 FR 65773 (December 21, 2018) (SR-Phlx-2018-80); 85669 
(April 17, 2019), 84 FR 16913 (April 23, 2019) (SR-Phlx-2019-13); 
87381 (October 22, 2019), 84 FR 57788 (October 28,2 019) (SR-Phlx-
2019-43); 88684 (April 17, 2020), 85 FR 22781 (April 23, 2020) (SR-
Phlx-2020-24); and 90256 (October 22, 2020), 85 FR 68393 (October 
28, 2020) (SR-Phlx-2020-48).
---------------------------------------------------------------------------

    Pursuant to Phlx Options 4A, Section 12(b)(5)(A) the Exchange may 
open for trading Weekly Expirations on any broad-based index eligible 
for standard options trading to expire on any Monday, Wednesday, or 
Friday (other than the third Friday-of-the-month or days that coincide 
with an EOM expiration). Weekly Expirations are subject to all 
provisions of Options 4A, Section 12 and are treated the same as 
options on the same underlying index that expire on the third Friday of 
the expiration month. Unlike the standard monthly options, however, 
Weekly Expirations are p.m.-settled.
    Similarly, pursuant to Options 4A, Section 12(b)(5)(B) the Exchange 
may open for trading EOM expirations on any broad-based index eligible 
for standard options trading to expire on the last trading day of the 
month. EOM expirations are subject to all provisions of Options 4A, 
Section 12 and treated the same as options on the same underlying index 
that expire on the third Friday of the expiration month. However, the 
EOM expirations are p.m.-settled.
    The Exchange now proposes to amend Options 4A, Section 12(b)(5)(C) 
so that the duration of the Program for these nonstandard expirations 
will be through November 4, 2021. The Exchange continues to have 
sufficient systems capacity to handle p.m.-settled options on broad-
based indexes with nonstandard expirations dates and has not 
encountered any issues or adverse market effects as a result of listing 
them. Additionally, there is continued investor interest in these 
products. The Exchange will continue to make public on its website any 
data and analysis it submits to the Commission under the Program.
    The Exchange will be submitting a rule change to request that the 
pilot program become permanent. In lieu of submitting any additional 
annual reports, the Exchange would provide additional information 
requested by the Commission in connection with the permanency rule 
change for this Program.
    The Exchange believes that the proposed extension of the Program 
will not have an adverse impact on capacity.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\5\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\6\ 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 the proposed rule change will protect investors 
and the public interest by providing the Exchange, the Commission and 
investors the benefit of additional time to analyze nonstandard 
expiration options. In particular, the Exchange believes that the 
Program has been successful to date. The Exchange has not encountered 
any problems with the Program. By extending the Program, investors may 
continue to benefit from a wider array of investment opportunities. 
Additionally, both the Exchange and the Commission may continue to 
monitor the potential for adverse market effects of p.m.-settlement on 
the market, including the underlying cash equities market, at the 
expiration of these options.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 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 not necessary or appropriate in 
furtherance of the purposes of the Act. Options with nonstandard 
expirations would be available for trading to all market participants.

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 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 \7\ and subparagraph (f)(6) of Rule 19b-4 
thereunder.\8\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(6). In addition, Rule19b-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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-Phlx-2021-21 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.


[[Page 19052]]


All submissions should refer to File Number SR-Phlx-2021-21. 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 (http://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-Phlx-2021-21, and should be submitted on 
or before May 3, 2021.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-07387 Filed 4-9-21; 8:45 am]
BILLING CODE 8011-01-P