Self-Regulatory Organizations; Investors Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Enhance the IEX Retail Price Improvement Program for the Benefit of Retail Investors, 29608 [2021-11531]

Download as PDF 29608 Federal Register / Vol. 86, No. 104 / Wednesday, June 2, 2021 / Notices whether to disapprove, the proposed rule change (File No. SR–IEX–2021–06). SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92029; File No. SR–IEX– 2021–06] Self-Regulatory Organizations; Investors Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Enhance the IEX Retail Price Improvement Program for the Benefit of Retail Investors May 26, 2021. On April 1, 2021, the Investors Exchange LLC (‘‘IEX’’) 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 enhance its Retail Price Improvement Program for the benefit of retail investors. The proposed rule change was published for comment in the Federal Register on April 15, 2021.3 The Commission received a comment letter on the proposed rule change.4 Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is May 30, 2021. The Commission is extending this 45day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received thereon. Accordingly, pursuant to Section 19(b)(2) of the Act,6 the Commission designates July 14, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine jbell on DSKJLSW7X2PROD with NOTICES 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 91523 (April 9, 2021), 86 FR 19912 (April 15, 2021). 4 Comments received on the proposed rule change are available at: https://www.sec.gov/comments/sriex-2021-06/sriex202106.htm. 5 15 U.S.C. 78s(b)(2). 6 Id. 2 17 VerDate Sep<11>2014 17:49 Jun 01, 2021 Jkt 253001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Assistant Secretary. [FR Doc. 2021–11531 Filed 6–1–21; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–92028; File No. SR– EMERALD–2021–19] Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt Fees for a New Data Product Known as the Liquidity Taker Event Report May 26, 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 May 14, 2021, MIAX Emerald, LLC (‘‘MIAX Emerald’’ or ‘‘Exchange’’), filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is filing a proposal to amend the Exchange’s Fee Schedule (‘‘Fee Schedule’’) to adopt fees for a new data product known as the Liquidity Taker Event Report.3 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 7 17 CFR 200.30–3(a)(31). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See, generally, Exchange Rule 531(a). 1 15 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 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 recently adopted a new data product known as the Liquidity Taker Event Report (the ‘‘Report’’), which will be available for purchase to Exchange Members on a voluntary basis.4 The Exchange now proposes to adopt fees for the Report. The Report was recently approved by the Securities and Exchange Commission (‘‘Commission’’) and is described under Exchange Rule 531(a).5 The Report is an optional product available to Members. By way of background, the Report is a daily report that provides a Member (‘‘Recipient Member’’) with its liquidity response time details for executions of an order resting on the Book,6 where that Recipient Member attempted to execute against such resting order 7 within a certain timeframe. It is important to note that the content of the Report is specific to the Recipient Member and the Report will not include any information related to any Member other than the Recipient Member. The following information is included in the Report regarding the resting order: (A) The time the resting order was received by the Exchange; (B) symbol; (C) order reference number, which is a unique reference number assigned to a new order at the time of receipt; (D) whether the Recipient Member is an Affiliate 8 of the Member 4 The term ‘‘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 the Definitions Section of the Fee Schedule and Exchange Rule 100. 5 See Securities Exchange Act Release No. 91787 (May 6, 2021), 86 FR 26111 (May 12, 2021) (SR– EMERALD–2021–09) (Order Granting Approval of a Proposed Rule Change to Adopt Exchange Rule 531(a), Reports, to Provide for a New ‘‘Liquidity Taker Event Report’’). 6 The term ‘‘Book’’ means the electronic book of buy and sell orders and quotes maintained by the System. See Exchange Rule 100. The term ‘‘System’’ means the automated trading system used by the Exchange for the trading of securities. See id. 7 Only displayed orders will be included in the Report. The Exchange notes that it does not currently offer any non-displayed orders types on its options trading platform. 8 The term ‘‘affiliate’’ of or person ‘‘affiliated with’’ another person means a person who, directly, or indirectly, controls, is controlled by, or is under E:\FR\FM\02JNN1.SGM 02JNN1

Agencies

[Federal Register Volume 86, Number 104 (Wednesday, June 2, 2021)]
[Notices]
[Page 29608]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-11531]



[[Page 29608]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92029; File No. SR-IEX-2021-06]


Self-Regulatory Organizations; Investors Exchange LLC; Notice of 
Designation of a Longer Period for Commission Action on a Proposed Rule 
Change To Enhance the IEX Retail Price Improvement Program for the 
Benefit of Retail Investors

May 26, 2021.
    On April 1, 2021, the Investors Exchange LLC (``IEX'') 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 enhance its 
Retail Price Improvement Program for the benefit of retail investors. 
The proposed rule change was published for comment in the Federal 
Register on April 15, 2021.\3\ The Commission received a comment letter 
on the proposed rule change.\4\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 91523 (April 9, 
2021), 86 FR 19912 (April 15, 2021).
    \4\ Comments received on the proposed rule change are available 
at: https://www.sec.gov/comments/sr-iex-2021-06/sriex202106.htm.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days (i) as the Commission may 
designate if it finds such longer period to be appropriate and 
publishes its reasons for so finding or (ii) as to which the self-
regulatory organization consents, the Commission shall either approve 
the proposed rule change, disapprove the proposed rule change, or 
institute proceedings to determine whether the proposed rule change 
should be disapproved. The 45th day after publication of the notice for 
this proposed rule change is May 30, 2021. The Commission is extending 
this 45-day time period.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission finds that it is appropriate to designate a longer 
period within which to take action on the proposed rule change so that 
it has sufficient time to consider the proposed rule change and the 
comments received thereon. Accordingly, pursuant to Section 19(b)(2) of 
the Act,\6\ the Commission designates July 14, 2021, as the date by 
which the Commission shall either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File No. SR-IEX-2021-06).
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    \6\ Id.

    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)(31).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-11531 Filed 6-1-21; 8:45 am]
BILLING CODE 8011-01-P
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