Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Implementation Date of Enhancements to the End of Day Summary Message on Nasdaq Last Sale Plus to May 17, 2021, 19931-19933 [2021-07678]
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Federal Register / Vol. 86, No. 71 / Thursday, April 15, 2021 / Notices
by one or more major market data
vendors, updated at least every 15
seconds during Regular Trading Hours.
Information about the Reference Rate,
including key elements of how the
Reference Rate is calculated, will be
publicly available at https://
www.cfbenchmarks.com.
The NAV for the Trust will be
calculated by the administrator once a
day and will be disseminated daily to
all market participants at the same time.
Quotation and last-sale information
regarding the Shares will be
disseminated through the facilities of
the CTA.
Quotation and last sale information
for bitcoin is widely disseminated
through a variety of major market data
vendors, including Bloomberg and
Reuters, as well as the Reference Rate.
Information relating to trading,
including price and volume
information, in bitcoin is available from
major market data vendors and from the
exchanges on which bitcoin are traded.
Depth of book information is also
available from bitcoin exchanges. The
normal trading hours for bitcoin
exchanges are 24 hours per day, 365
days per year.
For the above reasons, the Exchange
believes that the proposed rule change
is consistent with the requirements of
Section 6(b)(5) of the Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purpose of the Act. The Exchange
notes that the proposed rule change,
rather will facilitate the listing and
trading of an additional exchange-traded
product that will enhance competition
among both market participants and
listing venues, to the benefit of investors
and the marketplace.
jbell on DSKJLSW7X2PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period
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
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17:35 Apr 14, 2021
Jkt 253001
the Exchange consents, the Commission
will:
A. By order approve or disapprove
such proposed rule change, or
B. institute proceedings to determine
whether the proposed rule change
should be disapproved.
19931
should be submitted on or before May
6, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.89
J. Matthew DeLesDernier,
Assistant Secretary.
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:
[FR Doc. 2021–07675 Filed 4–14–21; 8:45 am]
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–
CboeBZX–2021–024 on the subject line.
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Extend the
Implementation Date of Enhancements
to the End of Day Summary Message
on Nasdaq Last Sale Plus to May 17,
2021
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–CboeBZX–2021–024. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CboeBZX–2021–024 and
PO 00000
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BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91526; File No. SR–
NASDAQ–2021–018]
April 9, 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 April 6,
2021, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘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
implementation date of its
enhancements to the End of Day
(‘‘EOD’’) summary message on Nasdaq
Last Sale (‘‘NLS’’) Plus to May 17, 2021.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/nasdaq/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
89 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\15APN1.SGM
15APN1
19932
Federal Register / Vol. 86, No. 71 / Thursday, April 15, 2021 / Notices
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
Nasdaq is filing this proposal to
extend the implementation date of its
enhancements to the EOD summary
message on NLS Plus to May 17, 2021.
Nasdaq proposed to enhance the EOD
summary message on NLS Plus by
replacing the current high, low and
closing price of a security based on its
trading on the Nasdaq, Nasdaq BX and
Nasdaq PSX exchanges with the
consolidated high, low and closing price
as published by the SIPs, and adding the
opening price of a security published by
the SIPs to that message. These changes
were filed by Nasdaq on February 17,
2021, and published in the Federal
Register on March 8, 2021.3
Nasdaq initially proposed that this
change become operative on April 12,
2021. Due to a customer request to allow
more weekend testing in advance of the
date of launch, Nasdaq has decided to
delay the implementation of this new
functionality to May 17, 2021. Nasdaq
announced the new implementation
date on a Data Technical News
Announcement disseminated on March
11, 2021.4
jbell on DSKJLSW7X2PROD with NOTICES
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 purpose of this proposal is to
inform the SEC and market participants
of the new implementation date for the
enhancements to the EOD summary
message on NLS Plus. This functionality
was previously proposed in a rule filing
that was submitted to the SEC, and this
3 See Securities Exchange Act Release No. 91241
(March 2, 2021), 86 FR 13427 (March 8, 2021) (SR–
Nasdaq–2021–010).
4 Data Technical News #2021–7 (March 11, 2021),
available at https://www.nasdaqtrader.com/
TraderNews.aspx?id=dtn2021-7.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
VerDate Sep<11>2014
17:35 Apr 14, 2021
Jkt 253001
proposal does not change the substance
of that filing. Nasdaq is delaying the
implementation date to allow for
additional weekend testing prior to
implementation.
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. As explained
above, the purpose of this proposal is to
inform the SEC and market participants
of the new implementation date for the
enhancements to the EOD summary
message on NLS Plus, and the Exchange
does not expect the date change to place
any burden on competition.
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 7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),10 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest. The Exchange has asked the
Commission to waive the 30-day
operative delay. Waiver of the operative
delay would allow the Exchange to
immediately extend the implementation
date for the changes to the NLS Plus
EOD summary message from April 12,
2021 to May 17, 2021 and allow market
7 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.
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
8 17
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Sfmt 4703
participants to engage in additional
weekend testing prior to
implementation. The Commission
believes that waiver of the 30-day
operative delay is consistent with the
protection of investors and the public
interest. Accordingly, the Commission
hereby waives the operative delay and
designates the proposed rule change
operative upon filing.11
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–
NASDAQ–2021–018 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–NASDAQ–2021–018. 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
11 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
E:\FR\FM\15APN1.SGM
15APN1
Federal Register / Vol. 86, No. 71 / Thursday, April 15, 2021 / Notices
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–NASDAQ–2021–018 and
should be submitted on or before May
6, 2021.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–07678 Filed 4–14–21; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–91528; File No. SR–CBOE–
2020–117]
Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Filing of
Amendment No. 1 and Order Granting
Accelerated Approval of a Proposed
Rule Change, as Modified by
Amendment No. 1, To Amend Certain
Rules To Accommodate the Listing
and Trading of Index Options With an
Index Multiplier of One
April 9, 2021.
jbell on DSKJLSW7X2PROD with NOTICES
I. Introduction
On December 23, 2020, Cboe
Exchange, Inc. (‘‘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 allow the Exchange to list and
trade certain index options with an
index multiplier of one (‘‘microoptions’’). The proposed rule change
was published for comment in the
12 17
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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17:35 Apr 14, 2021
Jkt 253001
Federal Register on January 11, 2021.3
On February 24, 2021, the Commission
designated a longer period within which
to approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether to disapprove the proposed
rule change.4 On March 30, 2021, the
Exchange filed Amendment No. 1 to the
proposed rule change, which replaced
and superseded the proposed rule
change in its entirety.5 The Commission
is publishing this notice to solicit
comments on the Exchange’s proposal,
as modified by Amendment No. 1, from
interested persons and is approving the
Exchange’s proposal, as modified by
Amendment No. 1, on an accelerated
basis.
II. Description of the Proposed Rule
Change, as Modified by Amendment
No. 1
The Exchange proposes to amend its
rules to allow the listing and trading of
micro-options on broad-based indexes
that have an index value of at least 100.6
Currently, the Exchange may list
options on broad-based indexes that
satisfy the initial and maintenance
criteria in Rule 4.10, and, according to
the Exchange, it presently lists options
on 12 broad-based indexes with an
underlying index value of at least 100.
These 12 broad-based indexes are listed
below, along with their closing values as
of March 30, 2021, as provided by the
Exchange.7
3 See Securities Exchange Act Release No. 90853
(January 5, 2021), 86 FR 2006. Comments on the
proposed rule change can be found on the
Commission’s website at: https://www.sec.gov/
comments/sr-cboe-2020-117/srcboe2020117.htm.
4 See Securities Exchange Act Release No. 91194,
86 FR 12244 (March 2, 2021). The Commission
designated April 11, 2021, as the date by which it
should approve, disapprove, or institute
proceedings to determine whether to disapprove the
proposed rule change.
5 In Amendment No. 1, the Exchange: (i)
Narrowed the scope of the proposed rule change to
permit the listing and trading of micro-options only
on broad-based index options that have index
values of at least 100, rather than all indexes; (ii)
narrowed the scope of the proposal to remove all
aspects of the proposal that would have permitted
the trading of flexible index options (‘‘FLEX Index
Options’’) with an index multiplier of one (‘‘FLEX
micro-index options’’); and (iii) provided additional
rationale and support for the proposed rule change.
Amendment No. 1 is available on the Commission’s
website at: https://www.sec.gov/comments/sr-cboe2020-117/srcboe2020117-8566514-230802.pdf.
6 The Exchange states that it intends to file a Form
19b–4(e) with the Commission for any index option
it lists for trading with an index multiplier of one
pursuant to Rule 19b–4(e) of the Act.
7 The Exchange states that it intends to initially
list micro-options on only a single index and may
expand the listing of micro-options in the future in
response to customer demand for such additional
products.
PO 00000
Frm 00065
Fmt 4703
Sfmt 4703
Index
(option symbol)
S&P 500 Index (SPX) ...........
Mini-S&P 500 Index (XSP) ...
Russell 2000 Index (RUT) ....
Mini-Russell 200 Index
(MRUT) .............................
Dow Jones Industrial Average (DJX) ..........................
S&P 100 Index (OEX and
XEO) .................................
S&P 500 ESG Index
(SPESG) ...........................
MSCI EAFE Index (MXEA) ..
MSCI Emerging Markets
Index (MXEF) ....................
Russell 1000 Growth Index
(RLG) ................................
Russell 1000 Value Index
(RLV) .................................
Russell 1000 Index (RUI) .....
19933
Current value
3,958.55
395.86
2,195.80
219.58
8 330.67
1,792.63
336.30
2,216.07
1,319.50
2,412.94
1,500.12
2,228.28
8 Options are based on 1/100th of the full
value of the Dow Jones Industrial Average
(‘‘DJIA’’).
Currently, the Exchange has
designated an index multiplier of 100
for indexes it lists for trading. Pursuant
to Rule 4.11, the Exchange may
determine the index multiplier of an
option, which is the amount specified in
the contract by which the current index
value is multiplied to arrive at the value
required to be delivered upon valid
exercise of the contract.9 The Exchange
generally specifies the index multiplier
in the specifications for an index
option.10 Similarly, Article I, Section 1,
I(3) of the Options Clearing Corporation
(‘‘OCC’’) By-Laws defines ‘‘index
multiplier’’ as the dollar amount (as
specified by the Exchange on which
such contract is traded) by which the
current index value is to be multiplied
to obtain the aggregate current index
value. The Exchange states that, while
the OCC’s By-Laws define a unit of
trading for equity options as 100 shares
if not otherwise specified, the definition
of index multiplier does not include a
default unit.11 The Exchange therefore
believes the current index multiplier
definition in the OCC By-Laws permits
any index multiplier specified by the
listing exchange.
Additionally, the Exchange believes
micro-options are covered by the
disclosures in the Options Disclosure
Document (‘‘ODD’’). The Exchange
states that the ODD reflects the
possibility of differing values of index
multipliers when describing features of
9 However, certain other Exchange Rules reflect
an index multiplier of 100, and the Exchange
proposes to update those rules to reflect the
potential for an index multiplier of one.
10 Option specifications are available at:
cboe.com/tradable_products/.
11 See OCC By-Laws Article I, Section 1, U(5).
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]]>Agencies
[Federal Register Volume 86, Number 71 (Thursday, April 15, 2021)]
[Notices]
[Pages 19931-19933]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-07678]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-91526; File No. SR-NASDAQ-2021-018]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend the Implementation Date of Enhancements to the End of Day
Summary Message on Nasdaq Last Sale Plus to May 17, 2021
April 9, 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 April 6, 2021, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to extend the implementation date of its
enhancements to the End of Day (``EOD'') summary message on Nasdaq Last
Sale (``NLS'') Plus to May 17, 2021.
The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/nasdaq/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
[[Page 19932]]
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
Nasdaq is filing this proposal to extend the implementation date of
its enhancements to the EOD summary message on NLS Plus to May 17,
2021.
Nasdaq proposed to enhance the EOD summary message on NLS Plus by
replacing the current high, low and closing price of a security based
on its trading on the Nasdaq, Nasdaq BX and Nasdaq PSX exchanges with
the consolidated high, low and closing price as published by the SIPs,
and adding the opening price of a security published by the SIPs to
that message. These changes were filed by Nasdaq on February 17, 2021,
and published in the Federal Register on March 8, 2021.\3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 91241 (March 2,
2021), 86 FR 13427 (March 8, 2021) (SR-Nasdaq-2021-010).
---------------------------------------------------------------------------
Nasdaq initially proposed that this change become operative on
April 12, 2021. Due to a customer request to allow more weekend testing
in advance of the date of launch, Nasdaq has decided to delay the
implementation of this new functionality to May 17, 2021. Nasdaq
announced the new implementation date on a Data Technical News
Announcement disseminated on March 11, 2021.\4\
---------------------------------------------------------------------------
\4\ Data Technical News #2021-7 (March 11, 2021), available at
https://www.nasdaqtrader.com/TraderNews.aspx?id=dtn2021-7.
---------------------------------------------------------------------------
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.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The purpose of this proposal is to inform the SEC and market
participants of the new implementation date for the enhancements to the
EOD summary message on NLS Plus. This functionality was previously
proposed in a rule filing that was submitted to the SEC, and this
proposal does not change the substance of that filing. Nasdaq is
delaying the implementation date to allow for additional weekend
testing prior to implementation.
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. As explained above, the purpose
of this proposal is to inform the SEC and market participants of the
new implementation date for the enhancements to the EOD summary message
on NLS Plus, and the Exchange does not expect the date change to place
any burden on competition.
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 \7\ and Rule 19b-
4(f)(6) thereunder.\8\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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.
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A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\10\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay. Waiver of the
operative delay would allow the Exchange to immediately extend the
implementation date for the changes to the NLS Plus EOD summary message
from April 12, 2021 to May 17, 2021 and allow market participants to
engage in additional weekend testing prior to implementation. The
Commission believes that waiver of the 30-day operative delay is
consistent with the protection of investors and the public interest.
Accordingly, the Commission hereby waives the operative delay and
designates the proposed rule change operative upon filing.\11\
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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-NASDAQ-2021-018 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-NASDAQ-2021-018. 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
[[Page 19933]]
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-
NASDAQ-2021-018 and should be submitted on or before May 6, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-07678 Filed 4-14-21; 8:45 am]
BILLING CODE 8011-01-P
