Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Definition of Short Term Option Series, 74683-74685 [2022-26443]

Download as PDF Federal Register / Vol. 87, No. 233 / Tuesday, December 6, 2022 / Notices 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–NYSE–2022–54 and should be submitted on or before December 27, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2022–26439 Filed 12–5–22; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–96413; File No. SR–GEMX– 2022–11] Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Definition of Short Term Option Series lotter on DSK11XQN23PROD with NOTICES1 November 30, 2022. 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 November 18, 2022, Nasdaq GEMX, LLC (‘‘GEMX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit 16 17 CFR 200.30–3(a)(12), (59). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 17:51 Dec 05, 2022 Jkt 259001 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 amend Options 1, General Provisions. The Exchange also proposes amendments within General 2, Organization and Administration. The text of the proposed rule change is available on the Exchange’s website at https://listingcenter.nasdaq.com/ rulebook/gemx/rules, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the description of the term ‘‘Short Term Option Series’’ within Options 1, Section 1, Definitions, to conform the term to Nasdaq ISE, LLC’s (‘‘ISE’’) term of Short Term Option Series which was recently amended.3 The Exchange also proposes certain non-substantive amendments. Each change is described below. Short Term Option Series Options 1, Section 1(a)(48) describes the term ‘‘Short Term Option Series’’ as follows: The term ‘‘Short Term Option Series’’ means a series in an option class that is approved for listing and trading on the Exchange in which the series is opened for trading on any Monday, Tuesday, Wednesday, Thursday, or Friday that is a business day and that expires on the Monday, Wednesday or Friday of the following business week that is a business 3 See Securities Exchange Act Release No. 96281 (November 9, 2022), 87 FR 68769 (November 16, 2022) (SR–ISE–2022–18) (Order Granting Approval of a Proposed Rule Change to Amend the Short Term Option Series Program). PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 74683 day, or, in the case of a series that is listed on a Friday and expires on a Monday, is listed one business week and one business day prior to that expiration. If a Tuesday, Wednesday, Thursday or Friday is not a business day, the series may be opened (or shall expire) on the first business day immediately prior to that Tuesday, Wednesday, Thursday or Friday. For a series listed pursuant to this section for Monday expiration, if a Monday is not a business day, the series shall expire on the first business day immediately following that Monday. ISE’s Options 4 rules were recently amended to expand the Short Term Option Series program to permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program.4 In conjunction with that change, ISE amended its definition of Short Term Option Series, within Options 1, Section 1(a)(49), to accommodate the listing of options series that expire on Tuesdays and Thursdays.5 Specifically, the Exchange added Tuesday and Thursday to the permitted expiration days, which currently include Monday, Wednesday, and Friday, that it may open for trading. At this time, the Exchange proposes to amend the term ‘‘Short Term Option Series’’ at Options 1, Section 1(a)(48) to provide, The term ‘‘Short Term Option Series’’ means a series in an option class that is approved for listing and trading on the Exchange in which the series is opened for trading on any Monday, Tuesday, Wednesday, Thursday, or Friday that is a business day and that expires on the Monday, Tuesday, Wednesday, Thursday, or Friday of the following business week that is a business day, or, in the case of a series that is listed on a Friday and expires on a Monday, is listed one business week and one business day prior to that expiration. If a Tuesday, Wednesday, Thursday or Friday is not a business day, the series may be opened (or shall expire) on the first business day immediately prior to that Tuesday, Wednesday, Thursday or Friday. For a series listed pursuant to this section for Monday expiration, if a Monday is not a business day, the series shall expire on the first business day immediately following that Monday. Today, GEMX’s listing rules permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program.6 4 See note 3 above. GEMX’s Options 4 Rules are incorporated by reference to ISE’s Options 4 Rules. 5 See note 3 above. 6 GEMX’s Options 4 Rules are incorporated by reference to ISE’s Options 4 Rules and therefore the approval of ISE’s Options 4 rules permits the listing and trading of options series with Tuesday and E:\FR\FM\06DEN1.SGM Continued 06DEN1 74684 Federal Register / Vol. 87, No. 233 / Tuesday, December 6, 2022 / Notices Other Non-Substantive Amendments The Exchange proposes to make other amendments to reserve certain sections of the Rulebook. These sections contain content in other Nasdaq affiliated rulebooks. To harmonize the section numbers across the Nasdaq affiliated markets, the Exchange proposes to reserve General 2, Sections 23 and 24. These amendments are non-substantive. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,7 in general, and furthers the objectives of Section 6(b)(5) of the Act,8 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. Short Term Option Series The Exchange’s proposal to amend the term ‘‘Short Term Option Series’’ at Options 1, Section 1(a)(48) to reflect the recent change 9 to GEMX’s listing rules to permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program is consistent with the Exchange Act. This proposal will align the description of Short Term Option Series within Options 1, Section 1(a)(48) to the expirations permitted within the Short Term Option Series Program within Supplementary .03(a) to Options 4, Section 5. Other Non-Substantive Amendments The Exchange’s proposal to reserve certain sections of the Rulebook, namely General 2, Sections 23 and 24, to harmonize section numbers across the Nasdaq affiliated markets is nonsubstantive. lotter on DSK11XQN23PROD with NOTICES1 B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Short Term Option Series The Exchange’s proposal to amend the term ‘‘Short Term Option Series’’ at Options 1, Section 1(a)(48) to reflect the recent change 10 to GEMX’s listing rules Thursday expirations for options on SPY and QQQ on GEMX. 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(5). 9 See note 3 above. 10 See note 3 above. VerDate Sep<11>2014 17:51 Dec 05, 2022 Jkt 259001 to permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program does not impose an undue burden on competition, rather this proposal will align the description of Short Term Option Series within Options 1, Section 1(a)(48) to the expirations permitted within the Short Term Option Series Program within Supplementary .03(a) to Options 4, Section 5. Other Non-Substantive Amendments The Exchange’s proposal to make other amendments to reserve certain sections of the Rulebook, namely General 2, Sections 23 and 24, to harmonize section numbers across the Nasdaq affiliated markets is nonsubstantive. 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 11 and Rule 19b–4(f)(6) thereunder.12 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)(iii) of the Act 13 and subparagraph (f)(6) of Rule 19b–4 thereunder.14 The Exchange has stated that the Options 4 listing rules were recently amended to expand the Short Term Option Series program to permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program,15 and that waiver of the 11 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 13 15 U.S.C. 78s(b)(3)(A)(iii). 14 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. 15 See supra note 4. 12 17 PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 30-day operative delay will allow the Exchange to conform the definition of a Short Term Option Series to the Options 4 listing rules. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest because the proposed rule change does not raise any new or novel issues. Accordingly, the Commission hereby waives the operative delay and designates the proposed rule change operative upon filing.16 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 rule-comments@ sec.gov. Please include File Number SR– GEMX–2022–11 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–GEMX–2022–11. 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 16 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\06DEN1.SGM 06DEN1 Federal Register / Vol. 87, No. 233 / Tuesday, December 6, 2022 / Notices 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–GEMX–2022–11, and should be submitted on or before December 27, 2022. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2022–26443 Filed 12–5–22; 8:45 am] BILLING CODE 8011–01–P [Release No. 34–96412; File No. SR– NASDAQ–2022–066] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Definition of Short Term Option Series lotter on DSK11XQN23PROD with NOTICES1 November 30, 2022. 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 November 18, 2022, The Nasdaq Stock Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. CFR 200.30–3(a)(12), (59). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 17:51 Dec 05, 2022 Jkt 259001 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 SECURITIES AND EXCHANGE COMMISSION 17 17 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend certain rule text within General 2, Organization and Administration. Additionally, the Exchange proposes to amend The Nasdaq Options Market LLC (‘‘NOM’’) rules at Options 1, General Provisions; Options 4A, Options Index Rules; and Options 10, Doing Business with the Public. 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. 1. Purpose The Exchange proposes to amend the description of the term ‘‘Short Term Option Series’’ within NOM Options 1, Section 1, Definitions, to conform the term to Nasdaq ISE, LLC’s (‘‘ISE’’) term of Short Term Option Series which was recently amended.3 The Exchange also proposes to amend certain rule text within NOM Options 4A, Section 12, Terms of Index Options Contracts, related to the Short Term Option Series Program. Finally, the Exchange propose certain other non-substantive amendments. Each change is described below. Short Term Option Series Options 1, Section 1(a)(57) describes the term ‘‘Short Term Option Series’’ as follows: The term ‘‘Short Term Option Series’’ means a series in an option class that is 3 See Securities Exchange Act Release No. 96281 (November 9, 2022), 87 FR 68769 (November 16, 2022) (SR–ISE–2022–18) (Order Granting Approval of a Proposed Rule Change to Amend the Short Term Option Series Program). PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 74685 approved for listing and trading on the Exchange in which the series is opened for trading on any Monday, Tuesday, Wednesday, Thursday or Friday that is a business day and that expires on the Monday, Wednesday or Friday of the next business week, or, in the case of a series that is listed on a Friday and expires on a Monday, is listed one business week and one business day prior to that expiration. If a Tuesday, Wednesday, Thursday or Friday is not a business day, the series may be opened (or shall expire) on the first business day immediately prior to that Tuesday, Wednesday, Thursday or Friday, respectively. For a series listed pursuant to this section for Monday expiration, if a Monday is not a business day, the series shall expire on the first business day immediately following that Monday. ISE’s Options 4 rules were recently amended to expand the Short Term Option Series program to permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed pursuant to the Short Term Option Series Program.4 In conjunction with that change, ISE amended its definition of Short Term Option Series, within Options 1, Section 1(a)(49), to accommodate the listing of options series that expire on Tuesdays and Thursdays.5 Specifically, the Exchange added Tuesday and Thursday to the permitted expiration days, which currently include Monday, Wednesday, and Friday, that it may open for trading. At this time, the Exchange proposes to amend the term ‘‘Short Term Option Series’’ at Options 1, Section 1(a)(57) to provide, The term ‘‘Short Term Option Series’’ means a series in an option class that is approved for listing and trading on the Exchange in which the series is opened for trading on any Monday, Tuesday, Wednesday, Thursday or Friday that is a business day and that expires on the Monday, Tuesday, Wednesday, Thursday, or Friday of the next business week, or, in the case of a series that is listed on a Friday and expires on a Monday, is listed one business week and one business day prior to that expiration. If a Tuesday, Wednesday, Thursday or Friday is not a business day, the series may be opened (or shall expire) on the first business day immediately prior to that Tuesday, Wednesday, Thursday or Friday, respectively. For a series listed pursuant to this section for Monday expiration, if a Monday is not a business day, the series shall expire on the first business day immediately following that Monday. Today, NOM’s listing rules permit the listing and trading of options series with Tuesday and Thursday expirations for options on SPY and QQQ listed 4 See note 3 above. NOM’s Options 4 Rules are incorporated by reference to ISE’s Options 4 Rules. 5 See note 3 above. E:\FR\FM\06DEN1.SGM 06DEN1

Agencies

[Federal Register Volume 87, Number 233 (Tuesday, December 6, 2022)]
[Notices]
[Pages 74683-74685]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-26443]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-96413; File No. SR-GEMX-2022-11]


Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the 
Definition of Short Term Option Series

November 30, 2022.
    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 November 18, 2022, Nasdaq GEMX, LLC (``GEMX'' or ``Exchange'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I and II below, which Items 
have been prepared by the Exchange. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Options 1, General Provisions. The 
Exchange also proposes amendments within General 2, Organization and 
Administration.
    The text of the proposed rule change is available on the Exchange's 
website at https://listingcenter.nasdaq.com/rulebook/gemx/rules, at the 
principal office of the Exchange, and at the Commission's Public 
Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to amend the description of the term ``Short 
Term Option Series'' within Options 1, Section 1, Definitions, to 
conform the term to Nasdaq ISE, LLC's (``ISE'') term of Short Term 
Option Series which was recently amended.\3\ The Exchange also proposes 
certain non-substantive amendments. Each change is described below.
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    \3\ See Securities Exchange Act Release No. 96281 (November 9, 
2022), 87 FR 68769 (November 16, 2022) (SR-ISE-2022-18) (Order 
Granting Approval of a Proposed Rule Change to Amend the Short Term 
Option Series Program).
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Short Term Option Series
    Options 1, Section 1(a)(48) describes the term ``Short Term Option 
Series'' as follows:

    The term ``Short Term Option Series'' means a series in an 
option class that is approved for listing and trading on the 
Exchange in which the series is opened for trading on any Monday, 
Tuesday, Wednesday, Thursday, or Friday that is a business day and 
that expires on the Monday, Wednesday or Friday of the following 
business week that is a business day, or, in the case of a series 
that is listed on a Friday and expires on a Monday, is listed one 
business week and one business day prior to that expiration. If a 
Tuesday, Wednesday, Thursday or Friday is not a business day, the 
series may be opened (or shall expire) on the first business day 
immediately prior to that Tuesday, Wednesday, Thursday or Friday. 
For a series listed pursuant to this section for Monday expiration, 
if a Monday is not a business day, the series shall expire on the 
first business day immediately following that Monday.

    ISE's Options 4 rules were recently amended to expand the Short 
Term Option Series program to permit the listing and trading of options 
series with Tuesday and Thursday expirations for options on SPY and QQQ 
listed pursuant to the Short Term Option Series Program.\4\ In 
conjunction with that change, ISE amended its definition of Short Term 
Option Series, within Options 1, Section 1(a)(49), to accommodate the 
listing of options series that expire on Tuesdays and Thursdays.\5\ 
Specifically, the Exchange added Tuesday and Thursday to the permitted 
expiration days, which currently include Monday, Wednesday, and Friday, 
that it may open for trading.
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    \4\ See note 3 above. GEMX's Options 4 Rules are incorporated by 
reference to ISE's Options 4 Rules.
    \5\ See note 3 above.
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    At this time, the Exchange proposes to amend the term ``Short Term 
Option Series'' at Options 1, Section 1(a)(48) to provide,

    The term ``Short Term Option Series'' means a series in an 
option class that is approved for listing and trading on the 
Exchange in which the series is opened for trading on any Monday, 
Tuesday, Wednesday, Thursday, or Friday that is a business day and 
that expires on the Monday, Tuesday, Wednesday, Thursday, or Friday 
of the following business week that is a business day, or, in the 
case of a series that is listed on a Friday and expires on a Monday, 
is listed one business week and one business day prior to that 
expiration. If a Tuesday, Wednesday, Thursday or Friday is not a 
business day, the series may be opened (or shall expire) on the 
first business day immediately prior to that Tuesday, Wednesday, 
Thursday or Friday. For a series listed pursuant to this section for 
Monday expiration, if a Monday is not a business day, the series 
shall expire on the first business day immediately following that 
Monday.

    Today, GEMX's listing rules permit the listing and trading of 
options series with Tuesday and Thursday expirations for options on SPY 
and QQQ listed pursuant to the Short Term Option Series Program.\6\
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    \6\ GEMX's Options 4 Rules are incorporated by reference to 
ISE's Options 4 Rules and therefore the approval of ISE's Options 4 
rules permits the listing and trading of options series with Tuesday 
and Thursday expirations for options on SPY and QQQ on GEMX.

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[[Page 74684]]

Other Non-Substantive Amendments
    The Exchange proposes to make other amendments to reserve certain 
sections of the Rulebook. These sections contain content in other 
Nasdaq affiliated rulebooks. To harmonize the section numbers across 
the Nasdaq affiliated markets, the Exchange proposes to reserve General 
2, Sections 23 and 24. These amendments are non-substantive.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\7\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\8\ 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
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Short Term Option Series
    The Exchange's proposal to amend the term ``Short Term Option 
Series'' at Options 1, Section 1(a)(48) to reflect the recent change 
\9\ to GEMX's listing rules to permit the listing and trading of 
options series with Tuesday and Thursday expirations for options on SPY 
and QQQ listed pursuant to the Short Term Option Series Program is 
consistent with the Exchange Act. This proposal will align the 
description of Short Term Option Series within Options 1, Section 
1(a)(48) to the expirations permitted within the Short Term Option 
Series Program within Supplementary .03(a) to Options 4, Section 5.
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    \9\ See note 3 above.
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Other Non-Substantive Amendments
    The Exchange's proposal to reserve certain sections of the 
Rulebook, namely General 2, Sections 23 and 24, to harmonize section 
numbers across the Nasdaq affiliated markets is non-substantive.

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

    The proposed rule change does not impose any burden on competition 
that is not necessary or appropriate in furtherance of the purposes of 
the Act.
Short Term Option Series
    The Exchange's proposal to amend the term ``Short Term Option 
Series'' at Options 1, Section 1(a)(48) to reflect the recent change 
\10\ to GEMX's listing rules to permit the listing and trading of 
options series with Tuesday and Thursday expirations for options on SPY 
and QQQ listed pursuant to the Short Term Option Series Program does 
not impose an undue burden on competition, rather this proposal will 
align the description of Short Term Option Series within Options 1, 
Section 1(a)(48) to the expirations permitted within the Short Term 
Option Series Program within Supplementary .03(a) to Options 4, Section 
5.
---------------------------------------------------------------------------

    \10\ See note 3 above.
---------------------------------------------------------------------------

Other Non-Substantive Amendments
    The Exchange's proposal to make other amendments to reserve certain 
sections of the Rulebook, namely General 2, Sections 23 and 24, to 
harmonize section numbers across the Nasdaq affiliated markets is non-
substantive.

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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \11\ and Rule 19b-4(f)(6) thereunder.\12\ 
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)(iii) of the Act \13\ and subparagraph (f)(6) of 
Rule 19b-4 thereunder.\14\ The Exchange has stated that the Options 4 
listing rules were recently amended to expand the Short Term Option 
Series program to permit the listing and trading of options series with 
Tuesday and Thursday expirations for options on SPY and QQQ listed 
pursuant to the Short Term Option Series Program,\15\ and that waiver 
of the 30-day operative delay will allow the Exchange to conform the 
definition of a Short Term Option Series to the Options 4 listing 
rules. The Commission believes that waiver of the 30-day operative 
delay is consistent with the protection of investors and the public 
interest because the proposed rule change does not raise any new or 
novel issues. Accordingly, the Commission hereby waives the operative 
delay and designates the proposed rule change operative upon 
filing.\16\
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    \11\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \14\ 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.
    \15\ See supra note 4.
    \16\ 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 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-GEMX-2022-11 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-GEMX-2022-11. 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

[[Page 74685]]

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-
GEMX-2022-11, and should be submitted on or before December 27, 2022.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12), (59).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2022-26443 Filed 12-5-22; 8:45 am]
BILLING CODE 8011-01-P
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