Self-Regulatory Organizations: Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Non-Substantively Amend the MIAX Fee Schedule, 17077-17079 [2023-05688]
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Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Notices
Commission, 100 F Street NE,
Washington, DC 20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
All submissions should refer to File
Number SR–NYSEARCA–2023–24. 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–NYSEARCA–2023–24 and
should be submitted on or before April
11, 2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.44
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–05686 Filed 3–20–23; 8:45 am]
ddrumheller on DSK120RN23PROD with NOTICES1
BILLING CODE 8011–01–P
[Release No. 34–97149; File No. SR–MIAX–
2023–11]
Self-Regulatory Organizations: Miami
International Securities Exchange LLC;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Non-Substantively Amend
the MIAX Fee Schedule
March 15, 2023.
Pursuant to the provisions of Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–
4thereunder,2 notice is hereby given
that on March 3, 2023, Miami
International Securities Exchange LLC
(‘‘MIAX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I and II below,
which Items have been prepared by the
Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend the MIAX Fee Schedule (‘‘Fee
Schedule’’) to make minor, nonsubstantive clarifying changes.
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxoptions.com/rulefilings, 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
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.
1 15
44 17
CFR 200.30–3(a)(12).
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17077
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
Fee Schedule to make minor, nonsubstantive clarifying changes.
Specifically, the Exchange proposes to
amend instances of the phrases ‘‘MIAX
Select Symbols’’ and ‘‘non-MIAX Select
Symbols’’ in Section 1)a)iii) of the Fee
Schedule to clarify that the terms
‘‘Select Symbols’’ and ‘‘non-MIAX
Select Symbols’’ refer to options listed
on MIAX.
Background
The Exchange initially created the list
of Select Symbols on March 1, 2014,3
and has added, removed and amended
symbol names of option classes from
that list since that time.4 Select Symbols
are rebated slightly higher in certain
Priority Customer Rebate Program
(‘‘PCRP’’) 5 tiers and segments than nonSelect Symbols. Currently, the term
‘‘MIAX Select Symbols’’ means options
overlying AAL, AAPL, AMAT, AMD,
AMZN, BA, BABA, BB, BIDU, BP, C,
CAT, CLF, CVX, DAL, EBAY, EEM,
FCX, GE, GILD, GLD, GM, GOOGL,
GPRO, HAL, INTC, IWM, JNJ, JPM, KMI,
KO, META, MO, MRK, NFLX, NOK,
ORCL, PBR, PFE, PG, QCOM, QQQ, RIG,
SPY, T, TSLA, USO, VALE, WBA, WFC,
WMB, X, XHB, XLE, XLF, XLP, XOM
and XOP.6
Proposal
First, the Exchange proposes to
amend two column headers of the PCRP
Table in Section 1)a)iii) of the Fee
3 See Securities Exchange Act Release No. 71700
(March 12, 2014), 79 FR 15188 (March 18, 2014)
(SR–MIAX–2014–13).
4 See, e.g., Securities Exchange Act Release Nos.
89530 (August 12, 2020), 85 FR 50845 (August 18,
2020) (SR–MIAX–2020–26); 88850 (May 11, 2020),
85 FR 29497 (May 15, 2020) (SR–MIAX–2020–09);
87964 (January 14, 2020), 85 FR 3435 (January 21,
2020) (SR–MIAX–2020–01); 87790 (December 18,
2019), 84 FR 71037 (December 26, 2019) (SR–
MIAX–2019–49); 85314 (March 14, 2019), 84 FR
10359 (March 20, 2019) (SR–MIAX–2019–07; 81998
(November 2, 2017), 82 FR 51897 (November 8,
2017) (SR–MIAX–2017–45); 81019 (June 26, 2017),
82 FR 29962 (June 30, 2017) (SR–MIAX–2017–29);
79301 (November 14, 2016), 81 FR 81854
(November 18, 2016) (SR–MIAX–2016–42); 74291
(February 18, 2015), 80 FR 9841 (February 24, 2015)
(SR–MIAX–2015–09); 74288 (February 18, 2015), 80
FR 9837 (February 24, 2015) (SR–MIAX–2015–08);
73328 (October 9, 2014), 79 FR 62230 (October 16,
2014) (SR–MIAX–2014–50); 72567 (July 8, 2014), 79
FR 40818 (July 14, 2014) (SR–MIAX–2014–34);
72356 (June 10, 2014), 79 FR 34384 (June 16, 2014)
(SR–MIAX–2014–26); 71700 (March 12, 2014), 79
FR 15188 (March 18, 2014) (SR–MIAX–2014–13).
5 See section 1)a)iii) of the Fee Schedule for a
complete description of the PCRP.
6 See Fee Schedule, note 14.
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ddrumheller on DSK120RN23PROD with NOTICES1
17078
Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Notices
Schedule to remove the word ‘‘MIAX’’
from the table columns, ‘‘Per Contract
Credit for Simple Orders in non-MIAX
Select Symbols’’ and ‘‘Per Contract
Credit for Simple Orders in MIAX Select
Symbols.’’ Second, the Exchange
proposes to add the phrase ‘‘Listed on
MIAX’’ to those same two table columns
so that with the proposed changes, those
columns in the PCRP Table will read as
follows: ‘‘Per Contract Credit for Simple
Orders in non-Select Symbols Listed on
MIAX’’ and ‘‘Per Contract Credit for
Simple Orders in Select Symbols Listed
on MIAX.’’
Additionally, the Exchange proposes
to remove the word ‘‘MIAX’’ and add
the phrase ‘‘listed on MIAX’’ in footnote
14, so that with the proposed changes,
footnote 14 will read as follows: ‘‘The
term ‘Select Symbols’ means options
listed on MIAX overlying AAL, AAPL,
AMAT, AMD, AMZN, BA, BABA, BB,
BIDU, BP, C, CAT, CLF, CVX, DAL,
EBAY, EEM, FCX, GE, GILD, GLD, GM,
GOOGL, GPRO, HAL, INTC, IWM, JNJ,
JPM, KMI, KO, META, MO, MRK,
NFLX, NOK, ORCL, PBR, PFE, PG,
QCOM, QQQ, RIG, SPY, T, TSLA, USO,
VALE, WBA, WFC, WMB, X, XHB, XLE,
XLF, XLP, XOM and XOP.’’
Finally, the Exchange proposes to
amend one of the explanatory
paragraphs below the PCRP Table that
references ‘‘MIAX Select Symbols’’ to be
in line with the changes proposed
above. Accordingly, with the proposed
change, the explanatory sentence will
read as follows: ‘‘For each Priority
Customer order transmitted by that
Member which is executed
electronically on the Exchange in Select
Symbols in simple order executions,
MIAX shall credit each member at the
separate per contract rate for Select
Symbols listed on MIAX.’’
The Exchange notes that it is not
changing the application of fees or
rebates to Select Symbols or any of the
rates in the PCRP Table. The purpose of
these proposed changes is to promote
clarity within the Exchange’s Fee
Schedule. The proposed change is
immediately effective.
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities,
remove impediments to and perfect the
mechanisms of a free and open market
and a national market system and, in
general, 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 changes make clarifying,
non-substantive edits to the Fee
Schedule. The Exchange believes that
these proposed changes will provide
greater clarity to Members and the
public regarding the Exchange’s Fee
Schedule and that it is in the public
interest for the Fee Schedule to be
accurate and concise so as to eliminate
the potential for confusion.
Additionally, the Exchange believes
that the proposed rule change is
consistent with Section 6(b)(5) 9 because
it will not permit unfair discrimination
among customers, brokers, or dealers
because the clarification applies equally
to all Members with similarly situated
Priority Customer orders in Select
Symbols listed on MIAX in the PCRP.
All similarly situated Priority Customer
orders in Select Symbols are subject to
the same rebate schedule.
2. Statutory Basis
The Exchange believes that the
proposed rule changes are 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
they are designed to prevent fraudulent
and manipulative acts and practices,
promote just and equitable principles of
trade, foster cooperation and
coordination with persons engaged in
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.
7 15
8 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
VerDate Sep<11>2014
19:23 Mar 20, 2023
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is not a
competitive filing but rather is designed
to remedy minor non-substantive issues
and provide added clarity to the Fee
Schedule in order to avoid potential
confusion on the part of market
participants. Consequently, the
Exchange does not believe that the
proposed change will have any impact
on competition.
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
9 15
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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 10 and
subparagraph (f)(6) of Rule 19b–
4thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) 12 normally does not
become operative prior to 30 days after
the date of filing. However, Rule 19b–
4(f)(6)(iii) 13 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. MIAX
has asked the Commission to waive the
30-day operative delay so that the
proposal may become operative
immediately upon filing. As MIAX
represents above, the proposed rule
change would make minor, nonsubstantive changes to clarify certain
references in MIAX’s fee schedule to
options listed on MIAX. MIAX states
that waiver of the operative delay would
allow MIAX to immediately clarify its
fee schedule and avoid any potential
investor confusion. 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 makes non-substantive clarifying
changes and thus does not raise any
new or novel issues. Accordingly, the
Commission hereby waives the 30-day
operative delay and designates the
proposal operative upon filing.14
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.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
10 15
U.S.C. 78s(b)(3)(A)(iii).
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 Commission has waived this
requirement.
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
14 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
11 17
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Federal Register / Vol. 88, No. 54 / Tuesday, March 21, 2023 / Notices
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–
MIAX–2023–11 on the subject line.
ddrumheller on DSK120RN23PROD with NOTICES1
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–2023–11. 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
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–2023–11, and
should be submitted on or before April
11, 2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Sherry R. Haywood,
Assistant Secretary.
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #17812 and #17813;
New Hampshire Disaster Number NH–
00062]
Presidential Declaration of a Major
Disaster for Public Assistance Only for
the State of New Hampshire
U.S. Small Business
Administration.
ACTION: Notice.
15 17
VerDate Sep<11>2014
19:23 Mar 20, 2023
Jkt 259001
Rafaela Monchek,
Acting Associate Administrator, Office of
Disaster Recovery & Resilience.
[FR Doc. 2023–05681 Filed 3–20–23; 8:45 am]
BILLING CODE 8026–09–P
DEPARTMENT OF TRANSPORTATION
This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of New Hampshire (FEMA–
4693–DR), dated 03/15/2023.
Incident: Severe Storms and Flooding.
Incident Period: 12/22/2022 through
12/25/2022.
DATES: Issued on 03/15/2023.
Physical Loan Application Deadline
Date: 05/15/2023.
Economic Injury (EIDL) Loan
Application Deadline Date: 12/15/2023.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Recovery &
Resilience, U.S. Small Business
Administration, 409 3rd Street SW,
Suite 6050, Washington, DC 20416,
(202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
President’s major disaster declaration on
03/15/2023, Private Non-Profit
organizations that provide essential
services of a governmental nature may
file disaster loan applications at the
address listed above or other locally
announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Belknap, Carroll,
Coos, Grafton.
The Interest Rates are:
SUMMARY:
For Physical Damage:
Non-Profit Organizations with
Credit Available Elsewhere ...
Non-Profit Organizations without Credit Available Elsewhere .....................................
For Economic Injury:
Non-Profit Organizations without Credit Available Elsewhere .....................................
PO 00000
Frm 00142
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Federal Motor Carrier Safety
Administration
[Docket No. FMCSA–2010–023; FMCSA–
2013–0109; FMCSA–2013–0444; FMCSA–
2014–0215; FMCSA–2016–0008; FMCSA–
2018–0053; FMCSA–2018–0056, FMCSA–
2019–0036]
Qualification of Drivers; Exemption
Applications; Epilepsy and Seizure
Disorders
Federal Motor Carrier Safety
Administration (FMCSA), Department
of Transportation (DOT).
ACTION: Notice of final disposition.
AGENCY:
FMCSA announces its
decision to renew exemptions for nine
individuals from the requirement in the
Federal Motor Carrier Safety
Regulations (FMCSRs) that interstate
commercial motor vehicle (CMV)
drivers have ‘‘no established medical
history or clinical diagnosis of epilepsy
or any other condition which is likely
to cause loss of consciousness or any
loss of ability to control a CMV.’’ The
exemptions enable these individuals
who have had one or more seizures and
are taking anti-seizure medication to
continue to operate CMVs in interstate
commerce.
DATES: The exemptions were applicable
on February 3, 2023. The exemptions
expire on February 3, 2025.
FOR FURTHER INFORMATION CONTACT: Ms.
Christine A. Hydock, Chief, Medical
Programs Division, FMCSA, DOT, 1200
New Jersey Avenue SE, Room W64–224,
Washington, DC 20590–0001, (202) 366–
4001, fmcsamedical@dot.gov. Office
hours are from 8:30 a.m. to 5 p.m. ET
Percent
Monday through Friday, except Federal
holidays. If you have questions
regarding viewing or submitting
2.375 material to the docket, contact Dockets
Operations, (202) 366–9826.
SUPPLEMENTARY INFORMATION:
2.375
2.375
The number assigned to this disaster
for physical damage is 17812 6 and for
economic injury is 17813 0.
CFR 200.30–3(a)(12), (59).
(Catalog of Federal Domestic Assistance
Number 59008)
AGENCY:
[FR Doc. 2023–05688 Filed 3–20–23; 8:45 am]
BILLING CODE 8011–01–P
17079
SUMMARY:
I. Public Participation
A. Viewing Comments
To view comments go to
www.regulations.gov. Insert the docket
number (FMCSA–2010–0203, FMCSA–
2013–0109, FMCSA–2013–0444,
FMCSA–2014–0215, FMCSA–2016–
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]]>Agencies
[Federal Register Volume 88, Number 54 (Tuesday, March 21, 2023)]
[Notices]
[Pages 17077-17079]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-05688]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-97149; File No. SR-MIAX-2023-11]
Self-Regulatory Organizations: Miami International Securities
Exchange LLC; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Non-Substantively Amend the MIAX Fee Schedule
March 15, 2023.
Pursuant to the provisions of Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4thereunder,\2\ notice
is hereby given that on March 3, 2023, Miami International Securities
Exchange LLC (``MIAX'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') a proposed rule change as
described in Items I and II below, which Items have been prepared by
the Exchange. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange is filing a proposal to amend the MIAX Fee Schedule
(``Fee Schedule'') to make minor, non-substantive clarifying changes.
The text of the proposed rule change is available on the Exchange's
website at https://www.miaxoptions.com/rule-filings, 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 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 Fee Schedule to make minor, non-
substantive clarifying changes. Specifically, the Exchange proposes to
amend instances of the phrases ``MIAX Select Symbols'' and ``non-MIAX
Select Symbols'' in Section 1)a)iii) of the Fee Schedule to clarify
that the terms ``Select Symbols'' and ``non-MIAX Select Symbols'' refer
to options listed on MIAX.
Background
The Exchange initially created the list of Select Symbols on March
1, 2014,\3\ and has added, removed and amended symbol names of option
classes from that list since that time.\4\ Select Symbols are rebated
slightly higher in certain Priority Customer Rebate Program (``PCRP'')
\5\ tiers and segments than non-Select Symbols. Currently, the term
``MIAX Select Symbols'' means options overlying AAL, AAPL, AMAT, AMD,
AMZN, BA, BABA, BB, BIDU, BP, C, CAT, CLF, CVX, DAL, EBAY, EEM, FCX,
GE, GILD, GLD, GM, GOOGL, GPRO, HAL, INTC, IWM, JNJ, JPM, KMI, KO,
META, MO, MRK, NFLX, NOK, ORCL, PBR, PFE, PG, QCOM, QQQ, RIG, SPY, T,
TSLA, USO, VALE, WBA, WFC, WMB, X, XHB, XLE, XLF, XLP, XOM and XOP.\6\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 71700 (March 12,
2014), 79 FR 15188 (March 18, 2014) (SR-MIAX-2014-13).
\4\ See, e.g., Securities Exchange Act Release Nos. 89530
(August 12, 2020), 85 FR 50845 (August 18, 2020) (SR-MIAX-2020-26);
88850 (May 11, 2020), 85 FR 29497 (May 15, 2020) (SR-MIAX-2020-09);
87964 (January 14, 2020), 85 FR 3435 (January 21, 2020) (SR-MIAX-
2020-01); 87790 (December 18, 2019), 84 FR 71037 (December 26, 2019)
(SR-MIAX-2019-49); 85314 (March 14, 2019), 84 FR 10359 (March 20,
2019) (SR-MIAX-2019-07; 81998 (November 2, 2017), 82 FR 51897
(November 8, 2017) (SR-MIAX-2017-45); 81019 (June 26, 2017), 82 FR
29962 (June 30, 2017) (SR-MIAX-2017-29); 79301 (November 14, 2016),
81 FR 81854 (November 18, 2016) (SR-MIAX-2016-42); 74291 (February
18, 2015), 80 FR 9841 (February 24, 2015) (SR-MIAX-2015-09); 74288
(February 18, 2015), 80 FR 9837 (February 24, 2015) (SR-MIAX-2015-
08); 73328 (October 9, 2014), 79 FR 62230 (October 16, 2014) (SR-
MIAX-2014-50); 72567 (July 8, 2014), 79 FR 40818 (July 14, 2014)
(SR-MIAX-2014-34); 72356 (June 10, 2014), 79 FR 34384 (June 16,
2014) (SR-MIAX-2014-26); 71700 (March 12, 2014), 79 FR 15188 (March
18, 2014) (SR-MIAX-2014-13).
\5\ See section 1)a)iii) of the Fee Schedule for a complete
description of the PCRP.
\6\ See Fee Schedule, note 14.
---------------------------------------------------------------------------
Proposal
First, the Exchange proposes to amend two column headers of the
PCRP Table in Section 1)a)iii) of the Fee
[[Page 17078]]
Schedule to remove the word ``MIAX'' from the table columns, ``Per
Contract Credit for Simple Orders in non-MIAX Select Symbols'' and
``Per Contract Credit for Simple Orders in MIAX Select Symbols.''
Second, the Exchange proposes to add the phrase ``Listed on MIAX'' to
those same two table columns so that with the proposed changes, those
columns in the PCRP Table will read as follows: ``Per Contract Credit
for Simple Orders in non-Select Symbols Listed on MIAX'' and ``Per
Contract Credit for Simple Orders in Select Symbols Listed on MIAX.''
Additionally, the Exchange proposes to remove the word ``MIAX'' and
add the phrase ``listed on MIAX'' in footnote 14, so that with the
proposed changes, footnote 14 will read as follows: ``The term `Select
Symbols' means options listed on MIAX overlying AAL, AAPL, AMAT, AMD,
AMZN, BA, BABA, BB, BIDU, BP, C, CAT, CLF, CVX, DAL, EBAY, EEM, FCX,
GE, GILD, GLD, GM, GOOGL, GPRO, HAL, INTC, IWM, JNJ, JPM, KMI, KO,
META, MO, MRK, NFLX, NOK, ORCL, PBR, PFE, PG, QCOM, QQQ, RIG, SPY, T,
TSLA, USO, VALE, WBA, WFC, WMB, X, XHB, XLE, XLF, XLP, XOM and XOP.''
Finally, the Exchange proposes to amend one of the explanatory
paragraphs below the PCRP Table that references ``MIAX Select Symbols''
to be in line with the changes proposed above. Accordingly, with the
proposed change, the explanatory sentence will read as follows: ``For
each Priority Customer order transmitted by that Member which is
executed electronically on the Exchange in Select Symbols in simple
order executions, MIAX shall credit each member at the separate per
contract rate for Select Symbols listed on MIAX.''
The Exchange notes that it is not changing the application of fees
or rebates to Select Symbols or any of the rates in the PCRP Table. The
purpose of these proposed changes is to promote clarity within the
Exchange's Fee Schedule. The proposed change is immediately effective.
2. Statutory Basis
The Exchange believes that the proposed rule changes are 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
they are designed to prevent fraudulent and manipulative acts and
practices, promote just and equitable principles of trade, foster
cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
facilitating transactions in securities, remove impediments to and
perfect the mechanisms of a free and open market and a national market
system and, in general, protect investors and the public interest.
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\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
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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 changes make clarifying, non-substantive edits to
the Fee Schedule. The Exchange believes that these proposed changes
will provide greater clarity to Members and the public regarding the
Exchange's Fee Schedule and that it is in the public interest for the
Fee Schedule to be accurate and concise so as to eliminate the
potential for confusion.
Additionally, the Exchange believes that the proposed rule change
is consistent with Section 6(b)(5) \9\ because it will not permit
unfair discrimination among customers, brokers, or dealers because the
clarification applies equally to all Members with similarly situated
Priority Customer orders in Select Symbols listed on MIAX in the PCRP.
All similarly situated Priority Customer orders in Select Symbols are
subject to the same rebate schedule.
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\9\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The proposed
rule change is not a competitive filing but rather is designed to
remedy minor non-substantive issues and provide added clarity to the
Fee Schedule in order to avoid potential confusion on the part of
market participants. Consequently, the Exchange does not believe that
the proposed change will have any impact on competition.
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 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 \10\ and
subparagraph (f)(6) of Rule 19b-4thereunder.\11\
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\10\ 15 U.S.C. 78s(b)(3)(A)(iii).
\11\ 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 Commission has waived this requirement.
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A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally
does not become operative prior to 30 days after the date of filing.
However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. MIAX has asked the Commission to
waive the 30-day operative delay so that the proposal may become
operative immediately upon filing. As MIAX represents above, the
proposed rule change would make minor, non-substantive changes to
clarify certain references in MIAX's fee schedule to options listed on
MIAX. MIAX states that waiver of the operative delay would allow MIAX
to immediately clarify its fee schedule and avoid any potential
investor confusion. 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 makes non-substantive
clarifying changes and thus does not raise any new or novel issues.
Accordingly, the Commission hereby waives the 30-day operative delay
and designates the proposal operative upon filing.\14\
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\12\ 17 CFR 240.19b-4(f)(6).
\13\ 17 CFR 240.19b-4(f)(6)(iii).
\14\ For purposes only of waiving the 30-day operative delay,
the Commission has 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: (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.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing,
[[Page 17079]]
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-2023-11 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-MIAX-2023-11. 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 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-2023-11, and should be submitted on
or before April 11, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12), (59).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-05688 Filed 3-20-23; 8:45 am]
BILLING CODE 8011-01-P
