Self-Regulatory Organizations: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by Miami International Securities Exchange, LLC To Amend Exchange Rule 1801, Definitions and Rule 1809, Terms of Index Options Contracts To Remove References to BRIXX Indexes, 66214-66216 [2022-23783]

Download as PDF 66214 Federal Register / Vol. 87, No. 211 / Wednesday, November 2, 2022 / Notices 2022. No more than three minutes shall be allotted to each speaker. The time allotted to each speaker will be determined after registration closes. Registration for the public comment period, either in person or via teleconference, will end on November 8 at noon ET. Participation in the public comment period is governed by 39 CFR 232.1(n). CONTACT PERSON FOR MORE INFORMATION: Michael J. Elston, Secretary of the Board of Governors, U.S. Postal Service, 475 L’Enfant Plaza SW, Washington, DC 20260–1000. Telephone: (202) 268– 4800. Michael J. Elston, Secretary. [FR Doc. 2022–23895 Filed 10–31–22; 11:15 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Express, Priority Mail, First-Class Package Service, and Parcel Select Service Negotiated Service Agreement AGENCY: ACTION: Postal ServiceTM. Notice. The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: Date of required notice: November 2, 2022. DATES: FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 26, 2022, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Express, Priority Mail, First-Class Package Service, and Parcel Select Service Contract 74 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2023–27, CP2023–26. khammond on DSKJM1Z7X2PROD with NOTICES SUPPLEMENTARY INFORMATION: Sarah Sullivan, Attorney, Ethics & Legal Compliance. [FR Doc. 2022–23851 Filed 11–1–22; 8:45 am] BILLING CODE 7710–12–P VerDate Sep<11>2014 16:38 Nov 01, 2022 Jkt 259001 SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 34741; File No. 812–15386] Royalty Pharma plc and Royalty Pharma Finance Corporation October 27, 2022. Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’). ACTION: Notice. AGENCY: Notice of an application under section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from all provisions of the Act. SUMMARY OF APPLICATION: Applicants request an order that would permit Royalty Pharma Finance Corporation (‘‘FinCo’’) to issue and sell commercial paper, preferred stock and other debt securities to finance the operations of Royalty Pharma plc (‘‘RP’’) and its subsidiaries. Applicants state that FinCo would qualify for the exemption provided by rule 3a–5 under the Act but for the facts that: (i) FinCo may finance various subsidiaries of RP that are not ‘‘companies controlled by’’ RP within the meaning of rule 3a–5 due to their reliance on sections 3(c)(5) or 3(c)(6) of the Act, (ii) FinCo is a direct subsidiary of Royalty Pharma Holdings Ltd., a wholly-owned subsidiary of RP, which would not be a ‘‘company controlled by the parent company’’ within the meaning of rule 3a–5 to the extent it relies on section 3(c)(6) of the Act, and (iii) FinCo’s ‘‘parent company’’ for purposes of rule 3a–5 would be RP, which would not be a ‘‘parent company’’ within the meaning of rule 3a–5 to the extent it relies on section 3(c)(6) of the Act. APPLICANTS: Royalty Pharma plc and Royalty Pharma Finance Corporation. FILING DATE: The application was filed on September 20, 2022. HEARING OR NOTIFICATION OF HEARING: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may request a hearing on any application by emailing the SEC’s Secretary at Secretarys-Office@sec.gov and serving the Applicants with a copy of the request by email, if an email address is listed for the relevant Applicant below, or personally or by mail, if a physical address is listed for the relevant Applicant below. Hearing requests should be received by the Commission by 5:30 p.m. on November 21, 2022, and should be accompanied by proof of service on applicants, in the form of an affidavit or, for lawyers, a certificate of service. Pursuant to rule 0–5 under the PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 Act, hearing requests should state the nature of the writer’s interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission’s Secretary at Secretarys-Office@sec.gov. ADDRESSES: The Commission: Secretarys-Office@sec.gov. Applicants: Gregory S. Rowland, gregory.rowland@ davispolk.com. FOR FURTHER INFORMATION CONTACT: Steven I. Amchan, Senior Counsel, or Lisa Reid Ragen, Branch Chief, at (202) 551–6825 (Division of Investment Management, Chief Counsel’s Office). SUPPLEMENTARY INFORMATION: For Applicants’ representations, legal analysis, and conditions, please refer to Applicants’ application, dated September 20, 2022, which may be obtained via the Commission’s website by searching for the file number at the top of this document, or for an Applicant using the Company name search field, on the SEC’s EDGAR system. The SEC’s EDGAR system may be searched at, at https://www.sec.gov/ edgar/searchedgar/legacy/ companysearch.html. You may also call the SEC’s Public Reference Room at (202) 551–8090. For the Commission, by the Division of Investment Management, under delegated authority. J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–23788 Filed 11–1–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96164; File No. SR–MIAX– 2022–39] Self-Regulatory Organizations: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by Miami International Securities Exchange, LLC To Amend Exchange Rule 1801, Definitions and Rule 1809, Terms of Index Options Contracts To Remove References to BRIXX Indexes October 27, 2022. Pursuant to the provisions of 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 October 24, 2022, Miami International Securities Exchange, LLC (‘‘MIAX Options’’ or the ‘‘Exchange’’) 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. E:\FR\FM\02NON1.SGM 02NON1 Federal Register / Vol. 87, No. 211 / Wednesday, November 2, 2022 / Notices 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 Interpretation and Policy .01 to Exchange Rule 1801 and Exchange Rules 1809(a)(3)–(5) to remove rule text related to certain indexes on which the Exchange may list and trade options. The text of the proposed rule change is available on the Exchange’s website at https://www.miaxoptions.com/rulefilings/ at MIAX Options’ principal office, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change khammond on DSKJM1Z7X2PROD with NOTICES 1. Purpose Background On April 17, 2020, the Exchange filed its proposal with the Commission to amend certain of the Exchange’s rules in connection with the Exchange’s plan to list and trade options on five commercial real estate indexes, at that time called the Advanced Fundamentals (‘‘AF’’) Commercial Real Estate Indexes, which were comprised of the AF CRE Residential Index, AF CRE Retail Index, AF CRE Office Index, AF CRE Hospitality Index and AF CRE Composite Index (collectively, the ‘‘AF CRE Indexes’’).3 The AF CRE Indexes 3 See Securities Exchange Act Release No. 88767 (April 29, 2020), 85 FR 26743 (May 5, 2020) (SR– MIAX–2020–08) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to List and Trade Options That Overlie Five Advanced VerDate Sep<11>2014 16:38 Nov 01, 2022 Jkt 259001 were later rebranded as the BRIXXTM Commercial Real Estate Indexes (the ‘‘BRIXX Indexes’’), as follows: (1) the AF CRE Office Index was rebranded as the BRIXX Office Index; (2) the AF CRE Retail Index was rebranded as the BRIXX Retail Index; (3) the AF CRE Residential Index was rebranded as the BRIXX Residential Index; (4) the AF CRE Hospitality Index was rebranded as the BRIXX Hospitality Index; and (5) the AF CRE Composite Index was rebranded as the BRIXX Composite Index.4 Currently, Interpretation and Policy .01 to Exchange Rule 1801, provides a table showing the reporting authority 5 for certain indexes on which the Exchange may list and trade options, including Devexperts 6 as the reporting authority for each of the BRIXX Indexes. Further, Exchange Rules 1809(a)(3)–(5) provide that the Exchange is able to list up to twelve (12) standard monthly expirations on the BRIXX Indexes, options on the BRIXX Indexes would be European-style index options, and options on the BRIXX Indexes would be A.M-settled.7 Proposal The Exchange proposes to amend Interpretation and Policy .01 to Exchange Rule 1801 and Exchange Rules 1809(a)(3)–(5) to remove rule text related to the BRIXX Indexes. Since the publication of the AF CRE Index Notice and to date, the Exchange has not listed options for trading on the BRIXX Indexes for business reasons and has determined not to list options for trading on the BRIXX Indexes in the future. Accordingly, the Exchange proposes to amend Exchange Rules 1801, Interpretation and Policy .01, and 1809(a)(3)–(5) to remove all rule text Fundamentals LLC Commercial Real Estate Indexes) (the ‘‘AF CRE Index Notice’’). The AF CRE Indexes measure real-time real estate returns representing the performance of real estate investment trusts (‘‘REITs’’) and/or publicly listed equity companies across various sectors. See id. 4 See Securities Exchange Act Release No. 91542 (April 13, 2021), 86 FR 20426 (April 19, 2021) (SR– MIAX–2021–09). 5 The term ‘‘reporting authority’’ with respect to a particular index means the institution or reporting service designated by the Exchange as the official source for (1) calculating the level of the index from the reported prices of the underlying securities that are the basis of the index and (2) reporting such level. The reporting authority for each index approved for options trading on the Exchange shall be Specified (as provided in Rule 1800) in the Interpretations and Policies to Rule 1801. See Exchange Rule 1801(p). 6 Devexperts provides consulting and software development services for the financial industry, including calculation and reporting services, online and desktop trading execution platforms, risk management and fix gateways, and real-time and historical data services. See https://devexperts.com/ about-devexperts/. 7 See Exchange Rules 1809(a)(3)–(5). PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 66215 related to the BRIXX Indexes. The purpose of this change is to provide clarity in the rule text that the Exchange does not plan to list for trading options on the BRIXX Indexes. 2. Statutory Basis The Exchange believes that its proposed rule change is consistent with Section 6(b) of the Act 8 in general, and furthers the objectives of Section 6(b)(5) of the Act 9 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanisms 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 changes promote just and equitable principles of trade and remove impediments to and perfect the mechanism of a free and open market and a national market system because the proposed rule changes will provide greater clarity to Members 10 and the public regarding the Exchange’s rules. In particular, by removing all rule text related to the BRIXX Indexes, the Exchange’s rules will be clear that the Exchange does not plan to list options on the BRIXX Indexes and it is in the public interest for rules to be accurate and concise so as to eliminate the potential for confusion. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule changes will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. Specifically, the Exchange believes the proposed changes will not impose any burden on intra-market competition as there is no functional change to the Exchange’s System and because the rules of the Exchange apply to all MIAX participants equally. The proposed rule change will have no impact on competition as it is not designed to address any competitive issue but rather is designed to add clarity to the rulebook that the Exchange will not 8 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 10 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 Exchange Rule 100. 9 15 E:\FR\FM\02NON1.SGM 02NON1 66216 Federal Register / Vol. 87, No. 211 / Wednesday, November 2, 2022 / Notices offer options for trading on the BRIXX Indexes. In addition, the Exchange does not believe the proposal will impose any burden on inter-market competition as the proposal does not address any competitive issues and is intended to protect investors by providing further transparency regarding the Exchange’s product offerings. • Send an email to rule-comments@ sec.gov. Please include File Number SR– MIAX–2022–39 on the subject line. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others All submissions should refer to File Number SR–MIAX–2022–39. 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–MIAX–2022–39, and should be submitted on or before November 23, 2022. Written comments were neither solicited nor 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 after the date of the filing, or such shorter time as the Commission may designate, it has become effective pursuant to 19(b)(3)(A) of the Act 11 and Rule 19b–4(f)(6) 12 thereunder. 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 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 khammond on DSKJM1Z7X2PROD with NOTICES • Use the Commission’s internet comment form (https://www.sec.gov/ rules/sro.shtml); or 11 15 Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549–1090. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 J. Matthew DeLesDernier, Deputy Secretary. [FR Doc. 2022–23783 Filed 11–1–22; 8:45 am] U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file 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. BILLING CODE 8011–01–P 12 17 VerDate Sep<11>2014 16:38 Nov 01, 2022 Jkt 259001 DEPARTMENT OF TRANSPORTATION Federal Motor Carrier Safety Administration [Docket No. FMCSA–2022–0148] Commercial Driver’s License: Application for Exemption; National School Transportation Association; Correction Federal Motor Carrier Safety Administration (FMCSA), DOT. AGENCY: ACTION: Notice of correction. FMCSA corrects the October 27, 2022, notice of final disposition in which the Agency announced its decision to grant the exemption requested by the National School Transportation Association (NSTA). Although the exemption expiration date is correctly stated in the DATES section of the notice, Section VII of the notice incorrectly identifies the expiration date. Today’s correction notice is being published to remedy that error. SUMMARY: The effective date of this correction notice is November 2, 2022. DATES: Mr. Richard Clemente, FMCSA Driver and Carrier Operations Division; Office of Carrier, Driver and Vehicle Safety Standards; Telephone: 202–366–2722. Email: richard.clemente@dot.gov. If you have questions on viewing or submitting material to the docket, contact Docket Services, telephone (202) 366–9826. FOR FURTHER INFORMATION CONTACT: I. Correction The original notice of disposition published in the FR (87 FR 65114) is modified to reflect the correct date of expiration in the terms and conditions. This corrected date supersedes the date identified in the original notice of disposition. The first sentence under ‘‘VII. Terms and Conditions of the Exemption’’ on page 65116 of the notice of final disposition is corrected to read as follows: ‘‘This exemption covers States for the period beginning at 12:00 a.m. (ET) on November 27, 2022 and continuing through 11:59 p.m. (ET) on November 27, 2024.’’ Larry W. Minor, Associate Administrator for Policy. [FR Doc. 2022–23830 Filed 11–1–22; 8:45 am] 13 17 PO 00000 CFR 200.30–3(a)(12). Frm 00090 Fmt 4703 Sfmt 4703 BILLING CODE 4910–EX–P E:\FR\FM\02NON1.SGM 02NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 87, Number 211 (Wednesday, November 2, 2022)]
[Notices]
[Pages 66214-66216]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23783]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96164; File No. SR-MIAX-2022-39]


Self-Regulatory Organizations: Notice of Filing and Immediate 
Effectiveness of a Proposed Rule Change by Miami International 
Securities Exchange, LLC To Amend Exchange Rule 1801, Definitions and 
Rule 1809, Terms of Index Options Contracts To Remove References to 
BRIXX Indexes

October 27, 2022.
    Pursuant to the provisions of 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 October 24, 2022, Miami International 
Securities Exchange, LLC (``MIAX Options'' or the ``Exchange'')

[[Page 66215]]

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.
---------------------------------------------------------------------------

    \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 is filing a proposal to amend Interpretation and 
Policy .01 to Exchange Rule 1801 and Exchange Rules 1809(a)(3)-(5) to 
remove rule text related to certain indexes on which the Exchange may 
list and trade options.
    The text of the proposed rule change is available on the Exchange's 
website at https://www.miaxoptions.com/rule-filings/ at MIAX Options' 
principal office, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
Background
    On April 17, 2020, the Exchange filed its proposal with the 
Commission to amend certain of the Exchange's rules in connection with 
the Exchange's plan to list and trade options on five commercial real 
estate indexes, at that time called the Advanced Fundamentals (``AF'') 
Commercial Real Estate Indexes, which were comprised of the AF CRE 
Residential Index, AF CRE Retail Index, AF CRE Office Index, AF CRE 
Hospitality Index and AF CRE Composite Index (collectively, the ``AF 
CRE Indexes'').\3\ The AF CRE Indexes were later rebranded as the 
BRIXX\TM\ Commercial Real Estate Indexes (the ``BRIXX Indexes''), as 
follows: (1) the AF CRE Office Index was rebranded as the BRIXX Office 
Index; (2) the AF CRE Retail Index was rebranded as the BRIXX Retail 
Index; (3) the AF CRE Residential Index was rebranded as the BRIXX 
Residential Index; (4) the AF CRE Hospitality Index was rebranded as 
the BRIXX Hospitality Index; and (5) the AF CRE Composite Index was 
rebranded as the BRIXX Composite Index.\4\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 88767 (April 29, 
2020), 85 FR 26743 (May 5, 2020) (SR-MIAX-2020-08) (Notice of Filing 
and Immediate Effectiveness of a Proposed Rule Change to List and 
Trade Options That Overlie Five Advanced Fundamentals LLC Commercial 
Real Estate Indexes) (the ``AF CRE Index Notice''). The AF CRE 
Indexes measure real-time real estate returns representing the 
performance of real estate investment trusts (``REITs'') and/or 
publicly listed equity companies across various sectors. See id.
    \4\ See Securities Exchange Act Release No. 91542 (April 13, 
2021), 86 FR 20426 (April 19, 2021) (SR-MIAX-2021-09).
---------------------------------------------------------------------------

    Currently, Interpretation and Policy .01 to Exchange Rule 1801, 
provides a table showing the reporting authority \5\ for certain 
indexes on which the Exchange may list and trade options, including 
Devexperts \6\ as the reporting authority for each of the BRIXX 
Indexes. Further, Exchange Rules 1809(a)(3)-(5) provide that the 
Exchange is able to list up to twelve (12) standard monthly expirations 
on the BRIXX Indexes, options on the BRIXX Indexes would be European-
style index options, and options on the BRIXX Indexes would be A.M-
settled.\7\
---------------------------------------------------------------------------

    \5\ The term ``reporting authority'' with respect to a 
particular index means the institution or reporting service 
designated by the Exchange as the official source for (1) 
calculating the level of the index from the reported prices of the 
underlying securities that are the basis of the index and (2) 
reporting such level. The reporting authority for each index 
approved for options trading on the Exchange shall be Specified (as 
provided in Rule 1800) in the Interpretations and Policies to Rule 
1801. See Exchange Rule 1801(p).
    \6\ Devexperts provides consulting and software development 
services for the financial industry, including calculation and 
reporting services, on-line and desktop trading execution platforms, 
risk management and fix gateways, and real-time and historical data 
services. See https://devexperts.com/about-devexperts/.
    \7\ See Exchange Rules 1809(a)(3)-(5).
---------------------------------------------------------------------------

Proposal
    The Exchange proposes to amend Interpretation and Policy .01 to 
Exchange Rule 1801 and Exchange Rules 1809(a)(3)-(5) to remove rule 
text related to the BRIXX Indexes. Since the publication of the AF CRE 
Index Notice and to date, the Exchange has not listed options for 
trading on the BRIXX Indexes for business reasons and has determined 
not to list options for trading on the BRIXX Indexes in the future. 
Accordingly, the Exchange proposes to amend Exchange Rules 1801, 
Interpretation and Policy .01, and 1809(a)(3)-(5) to remove all rule 
text related to the BRIXX Indexes. The purpose of this change is to 
provide clarity in the rule text that the Exchange does not plan to 
list for trading options on the BRIXX Indexes.
2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent 
with Section 6(b) of the Act \8\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act \9\ in particular, in that it 
is designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating, 
clearing, settling, processing information with respect to, and 
facilitating transactions in securities, to remove impediments to and 
perfect the mechanisms of a free and open market and a national market 
system and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes the proposed changes promote just and 
equitable principles of trade and remove impediments to and perfect the 
mechanism of a free and open market and a national market system 
because the proposed rule changes will provide greater clarity to 
Members \10\ and the public regarding the Exchange's rules. In 
particular, by removing all rule text related to the BRIXX Indexes, the 
Exchange's rules will be clear that the Exchange does not plan to list 
options on the BRIXX Indexes and it is in the public interest for rules 
to be accurate and concise so as to eliminate the potential for 
confusion.
---------------------------------------------------------------------------

    \10\ 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 
Exchange Rule 100.
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule changes will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. Specifically, the Exchange 
believes the proposed changes will not impose any burden on intra-
market competition as there is no functional change to the Exchange's 
System and because the rules of the Exchange apply to all MIAX 
participants equally. The proposed rule change will have no impact on 
competition as it is not designed to address any competitive issue but 
rather is designed to add clarity to the rulebook that the Exchange 
will not

[[Page 66216]]

offer options for trading on the BRIXX Indexes.
    In addition, the Exchange does not believe the proposal will impose 
any burden on inter-market competition as the proposal does not address 
any competitive issues and is intended to protect investors by 
providing further transparency regarding the Exchange's product 
offerings.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor 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 after the date of the filing, or such 
shorter time as the Commission may designate, it has become effective 
pursuant to 19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) \12\ 
thereunder.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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 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-MIAX-2022-39 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-MIAX-2022-39. 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-MIAX-2022-39, and should be submitted on 
or before November 23, 2022.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-23783 Filed 11-1-22; 8:45 am]
BILLING CODE 8011-01-P

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