Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Withdrawal of Proposed Rule Change To Amend the MIAX Pearl Options Fee Schedule To Increase Certain Connectivity Fees and Increase the Monthly Fees for MIAX Express Network Full Service Ports, 65111-65112 [2022-23351]

Download as PDF khammond on DSKJM1Z7X2PROD with NOTICES Federal Register / Vol. 87, No. 207 / Thursday, October 27, 2022 / Notices charges. Moreover, members are free to trade on other venues to the extent they believe that the fees assessed, and credits provided, are not attractive. As one can observe by looking at any market share chart, price competition between exchanges is fierce, with liquidity and market share moving freely between exchanges in reaction to fee and credit changes. changes proposed herein are unattractive to market participants, it is likely that the Exchange will lose market share as a result. Accordingly, the Exchange does not believe that the proposed changes will impair the ability of members or competing order execution venues to maintain their competitive standing in the financial markets. Intermarket Competition The Exchange believes that its proposed modifications to its schedule of fees and credits will not impose a burden on competition because the Exchange’s execution services are completely voluntary and subject to extensive competition both from the other live exchanges and from offexchange venues, which include alternative trading systems that trade national market system stock. The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues if they deem fee levels at a particular venue to be excessive, or rebate opportunities available at other venues to be more favorable. In such an environment, the Exchange must continually adjust its fees to remain competitive with other exchanges and with alternative trading systems that have been exempted from compliance with the statutory standards applicable to exchanges. Because competitors are free to modify their own fees in response, and because market participants may readily adjust their order routing practices, the Exchange believes that the degree to which fee changes in this market may impose any burden on competition is extremely limited. The proposed changes are reflective of this competition because, as a threshold issue, the Exchange is a relatively small market so its ability to burden intermarket competition is limited. In this regard, even the largest U.S. equities exchange by volume only has 17–18% market share, which in most markets could hardly be categorized as having enough market power to burden competition. Moreover, as noted above, price competition between exchanges is fierce, with liquidity and market share moving freely between exchanges in reaction to fee and credit changes. This is in addition to free flow of order flow to and among off-exchange venues which comprises more than 40% of industry volume in recent months. In sum, the Exchange intends for the proposed changes to its fees and credits, in the aggregate, to increase member incentives to engage in the addition of liquidity on the Exchange. If the 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. VerDate Sep<11>2014 16:55 Oct 26, 2022 Jkt 259001 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to section 19(b)(3)(A)(ii) of the Act.10 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: (i) necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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 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– BX–2022–019 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–BX–2022–019. 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 offices 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–BX–2022–019, and should be submitted on or before November 17, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–23353 Filed 10–26–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96123; File No. SR– PEARL–2022–18] Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Withdrawal of Proposed Rule Change To Amend the MIAX Pearl Options Fee Schedule To Increase Certain Connectivity Fees and Increase the Monthly Fees for MIAX Express Network Full Service Ports October 21, 2022. On May 2, 2022, MIAX PEARL, LLC (‘‘MIAX Pearl’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 a proposed rule 11 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 10 15 PO 00000 U.S.C. 78s(b)(3)(A)(ii). Frm 00089 Fmt 4703 Sfmt 4703 65111 E:\FR\FM\27OCN1.SGM 27OCN1 65112 Federal Register / Vol. 87, No. 207 / Thursday, October 27, 2022 / Notices change to amend the MIAX Pearl Options Fee Schedule to increase certain connectivity fees and increase the monthly fees for the MIAX Express Network Full Service (‘‘MEO’’) Ports. The proposed rule change was immediately effective upon filing with the Commission pursuant to section 19(b)(3)(A) of the Act.3 The proposed rule change was published for comment in the Federal Register and, pursuant to section 19(b)(3)(C) of the Act,4 the Commission: (1) temporarily suspended the proposed rule change; and (2) instituted proceedings under section 19(b)(2)(B) of the Act 5 to determine whether to approve or disapprove the proposed rule change.6 On October 19, 2022, the Exchange withdrew the proposed rule change (SR–PEARL– 2022–18). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–23351 Filed 10–26–22; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION [Docket No: SSA–2022–0052] Agency Information Collection Activities: Comment Request The Social Security Administration (SSA) publishes a list of information collection packages requiring clearance by the Office of Management and Budget (OMB) in compliance with Public Law 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. This notice includes revisions of OMB-approved information collections. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Mail, email, or fax your comments and recommendations on the information collection(s) to the OMB Desk Officer and SSA Reports Clearance Officer at the following addresses or fax numbers. (OMB) Office of Management and Budget, Attn: Desk Officer for SSA Comments: https://www.reginfo.gov/ public/do/PRAMain. Submit your comments online referencing Docket ID Number [SSA–2022–0052]. (SSA) Social Security Administration, OLCA, Attn: Reports Clearance Director, 3100 West High Rise, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410–966–2830, Email address: OR.Reports.Clearance@ssa.gov Or you may submit your comments online through https://www.reginfo.gov/ public/do/PRAMain, referencing Docket ID Number [SSA–2022–0052]. SSA submitted the information collections below to OMB for clearance. Your comments regarding these information collections would be most useful if OMB and SSA receive them 30 days from the date of this publication. To be sure we consider your comments, we must receive them no later than November 28, 2022. Individuals can obtain copies of these OMB clearance packages by writing to OR.Reports.Clearance@ssa.gov. 1. Waiver of Your Right to Personal Appearance before a Judge—20 CFR 20 CFR 404.948(b)(1)(i), 404.956, 416.1448(b)(1)(i), and 416.1456—0960– 0284. Applicants for Social Security, Old Age, Survivors, and Disability Insurance (OASDI) benefits and Supplemental Security Income (SSI) payments have the statutory right to appear in person (or through a representative) and present evidence about their claims at a hearing before a Number of respondents Modality of completion HA–4608 ................................................................................... I 12,000 Average burden per response (minutes) Frequency of response I 1 judge. Per SSA regulations, if a claimant is dissatisfied with a determination or decision listed in 20 CFR 404.930 or 416.1430, the claimant may request a hearing before a judge, and has a right to appear at a hearing before a judge. At a hearing, claimants have the right to present evidence; have witnesses testify on their behalf; and present their case to the judge. A hearing may provide the judge with additional information to make a more informed decision. However, in some cases, claimants may choose to waive their right to appear before a judge for various reasons, including if they feel the evidence of record stands on its own, or if they are unable to attend a hearing due to extenuating circumstances. When a claimant chooses to waive the right to appear at a hearing and allows the judge to decide the case based on the written evidence of record alone, we ask the claimant to submit this request to us in writing so we can document it in their record. While SSA will accept a written request, we also allow claimants to use Form HA–4608 to serve as a written waiver for the claimant’s right to a personal appearance before a judge. The claimant may complete the paper version of the HA–4608 and submit it back to SSA using the pre-paid envelope SSA sends with it, or the claimant may choose to complete the HA–4608 through the submittable PDF on SSA’s website. The judge uses the information we collect on Form HA–4608 to continue processing the case and makes the completed form a part of the documentary evidence of record by placing it in the official record of the proceedings as an exhibit. Respondents are applicants or claimants for OASDI and SSI, or their representatives, who request to waive their right to appear before a judge. Type of Request: Revision of an approved-OMB information collection. I 5 Average theoretical hourly cost amount (dollars) * Estimated total annual burden (hours) I 1,000 I $11.70 * Total annual opportunity cost (dollars) ** I $11,700 ** khammond on DSKJM1Z7X2PROD with NOTICES * We based this figure on the average DI payments based on SSA’s current FY 2022 data (https://www.ssa.gov/legislation/2022factsheet.pdf). ** This figure does not represent actual costs that SSA is imposing on recipients of Social Security payments to complete this application; rather, these are theoretical opportunity costs for the additional time respondents will spend to complete the application. There is no actual charge to respondents to complete the application. 2. Plan to Achieve Self-Support (PASS)—20 CFR 416.110(e), 416.1180– 416.1182, 416.1225–416.1227—0960– 0559. The SSI program encourages 3 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take effect upon filing with the Commission if it is designated by the exchange as ‘‘establishing or changing a due, fee, or other charge imposed by the self-regulatory organization on any person, whether or not the person is a member of the self-regulatory organization.’’ 15 U.S.C. 78s(b)(3)(A)(ii). 4 15 U.S.C. 78s(b)(3)(C). VerDate Sep<11>2014 16:55 Oct 26, 2022 Jkt 259001 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 recipients to return to work. One of the program objectives is to provide 5 15 U.S.C. 78s(b)(2)(B). Securities Exchange Act Release No. 94888 (May 11, 2022), 87 FR 29892 (May 17, 2022). 7 17 CFR 200.30–3(a)(12). 6 See E:\FR\FM\27OCN1.SGM 27OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 87, Number 207 (Thursday, October 27, 2022)]
[Notices]
[Pages 65111-65112]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23351]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96123; File No. SR-PEARL-2022-18]


Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of 
Withdrawal of Proposed Rule Change To Amend the MIAX Pearl Options Fee 
Schedule To Increase Certain Connectivity Fees and Increase the Monthly 
Fees for MIAX Express Network Full Service Ports

October 21, 2022.
    On May 2, 2022, MIAX PEARL, LLC (``MIAX Pearl'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ a proposed rule

[[Page 65112]]

change to amend the MIAX Pearl Options Fee Schedule to increase certain 
connectivity fees and increase the monthly fees for the MIAX Express 
Network Full Service (``MEO'') Ports.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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The proposed rule change was immediately effective upon filing with the 
Commission pursuant to section 19(b)(3)(A) of the Act.\3\ The proposed 
rule change was published for comment in the Federal Register and, 
pursuant to section 19(b)(3)(C) of the Act,\4\ the Commission: (1) 
temporarily suspended the proposed rule change; and (2) instituted 
proceedings under section 19(b)(2)(B) of the Act \5\ to determine 
whether to approve or disapprove the proposed rule change.\6\ On 
October 19, 2022, the Exchange withdrew the proposed rule change (SR-
PEARL-2022-18).
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78s(b)(3)(A). A proposed rule change may take 
effect upon filing with the Commission if it is designated by the 
exchange as ``establishing or changing a due, fee, or other charge 
imposed by the self-regulatory organization on any person, whether 
or not the person is a member of the self-regulatory organization.'' 
15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 15 U.S.C. 78s(b)(3)(C).
    \5\ 15 U.S.C. 78s(b)(2)(B).
    \6\ See Securities Exchange Act Release No. 94888 (May 11, 
2022), 87 FR 29892 (May 17, 2022).

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,
Deputy Secretary.
[FR Doc. 2022-23351 Filed 10-26-22; 8:45 am]
BILLING CODE 8011-01-P

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