Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Pricing Schedule at Options 7, Section 4 Regarding Marketing Fees, 68186-68187 [2023-21786]
Download as PDF
68186
Federal Register / Vol. 88, No. 190 / Tuesday, October 3, 2023 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.76
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–21783 Filed 10–2–23; 8:45 am]
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
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–98561; File No. SR–Phlx–
2023–44]
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Pricing
Schedule at Options 7, Section 4
Regarding Marketing Fees
September 27, 2023.
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
September 13, 2023, Nasdaq PHLX LLC
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the 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 proposes to a proposal
to amend its Pricing Schedule at
Options 7, Section 4.
The text of the proposed rule change
is available on the Exchange’s website at
https://listingcenter.nasdaq.com/
rulebook/phlx/rules, at the principal
office of the Exchange, and at the
Commission’s Public Reference Room.
ddrumheller on DSK120RN23PROD with NOTICES1
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
76 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
20:04 Oct 02, 2023
Jkt 262001
1. Purpose
The Exchange proposes to amend the
Exchange’s Pricing Schedule at Options
7, Section 4 to specify the application of
its marketing fees. Today, the Exchange
delineates pricing for multiply-listed
options in Options 7, Section 4,
including marketing fees (‘‘Marketing
Fees’’). The Marketing Fees for
multiply-listed options are assessed on
Lead Market Makers,3 Market Makers,4
and Directed Market Makers 5 for trades
resulting from either Directed or nonDirected Customer Orders 6 that are
delivered electronically and executed
on the Exchange, with certain specified
exceptions, including the exclusion of
transactions in broad-based index
options symbols listed in Options 7,
Section 5.A.
The Exchange now proposes to amend
the rule to specify that no Marketing
Fees will be assessed on transactions in
options symbols subject to Options 7,
Section 5 pricing 7 to make clear that the
exclusion also applies to all singly listed
options subject to pricing in Options 7,
Section 5.C and Options 7, Section 5.D
(in addition to broad-based index
options symbols in Options 7, Section
5.A, as currently specified). The
Exchange notes that this is not a change
to current practice; rather, the proposed
changes are intended to memorialize
how the Exchange currently assesses
3 The term ‘‘Lead Market Maker’’ applies to
transactions for the account of a Lead Market Maker
(as defined in Options 2, Section 12(a)). A Lead
Market Maker is an Exchange member who is
registered as an options Lead Market Maker
pursuant to Options 2, Section 12(a). An options
Lead Market Maker includes a Remote Lead Market
Maker which is defined as an options Lead Market
Maker in one or more classes that does not have a
physical presence on an Exchange floor and is
approved by the Exchange pursuant to Options 2,
Section 11.
4 The term ‘‘Market Maker’’ is defined in Options
1, Section 1(b)(28) as a member of the Exchange
who is registered as an options Market Maker
pursuant to Options 2, Section 12(a). A Market
Maker includes SQTs and RSQTs as well as Floor
Market Makers.
5 The term ‘‘Directed Market Maker’’ means a
Market Maker that receives a Directed Order in
accordance with Options 2, Section 10.
6 The term ‘‘Directed Order’’ means any order to
buy or sell which has been directed to a particular
Lead Market Maker, RSQT, or SQT by an Order
Flow Provider, as defined in Options 2, Section 10.
To qualify as a Directed Order, an order must be
delivered to the Exchange via the System.
7 Options 7, Section 5 sets forth pricing for index
and singly listed options (includes options
overlying FX Options, equities, ETFs, ETNs, and
indexes not listed on another exchange).
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
Marketing Fees. Today, the Exchange
already indicates in the header of
Options 7, Section 4 that the pricing set
forth in Section 4 (including Marketing
Fees) applies only to multiply listed
options excluding SPY and the broadbased index options in Options 7,
Section 5.A. Section 4 specifically
excludes the broad-based index options
in Options 7, Section 5.A because some
of the symbols (like NDX) are multiply
listed. Furthermore, Options 7, Section
5 specifically indicates that the pricing
set forth in this Section 5 applies to
index options and singly listed options.
By implication, options that are singly
listed on Phlx, and that are subject to
Options 7, Section 5.C and Section 5.D
pricing are excluded from Options 7,
Section 4 pricing like the Marketing
Fees. However, the Exchange believes
that further clarity will be helpful by
explicitly stating this exclusion in the
Marketing Fees portion of Section 4 to
avoid potential confusion by market
participants and investors.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,8 in general, and furthers the
objectives of Sections 6(b)(4) and 6(b)(5)
of the Act,9 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees, and other charges
among members and issuers and other
persons using any facility, and is not
designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.
The Exchange believes that the
proposed changes in Options 7, Section
4 to specify that no Marketing Fees will
be assessed on transactions in options
symbols subject to Options 7, Section 5
pricing are reasonable because the
changes will make clear that the
exclusion also applies to all singly listed
options subject to pricing in Options 7,
Section 5.C and Options 7, Section 5.D
(in addition to broad-based index
options symbols in Options 7, Section
5.A, as currently specified). As
discussed above, the proposed changes
will not amend current practice; rather,
the proposed changes are intended to
memorialize how the Exchange
currently assesses Marketing Fees.
While the Exchange already indicates
which sections of its Pricing Schedule
apply to which options in the manner
discussed above, the Exchange believes
that further clarity will be helpful by
explicitly stating in the Marketing Fees
pricing program itself that all symbols
subject to Options 7, Section 5 pricing
8 15
9 15
E:\FR\FM\03OCN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(4) and (5).
03OCN1
Federal Register / Vol. 88, No. 190 / Tuesday, October 3, 2023 / Notices
will be excluded from the Marketing
Fees in order to avoid potential
confusion by market participants and
investors. The Exchange also believes
that it is reasonable to exclude singly
listed options in Options 7, Section 5
from the Marketing Fees because the
purpose of this program is to generate
more Customer order flow to the
Exchange. Because singly listed options
are exclusively listed products on Phlx,
the Exchange does not believe that
applying Marketing Fees is necessary for
these products.
Lastly, the Exchange believes that its
proposal to memorialize that all options
symbols subject to Options 7, Section 5
pricing are excluded from the Marketing
Fees program set forth in Options 7,
Section 4 is equitable and not unfairly
discriminatory because the program will
uniformly exclude all market
participant orders in these symbols. As
noted above, the Exchange’s proposal
does not alter its existing Marketing
Fees program, but instead memorializes
current practice.
ddrumheller on DSK120RN23PROD with NOTICES1
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange does not believe that its
proposal would impose an undue
burden on intra-market competition.
The proposed changes will memorialize
current practice that no Marketing Fees
will be assessed on transactions in
options symbols subject to Options 7,
Section 5 pricing, which will continue
to apply uniformly to all market
participant orders in such symbols.
In terms of inter-market competition,
the Exchange notes that it operates in a
highly competitive market in which
market participants can readily favor
competing venues if they deem fee
levels at a particular venue to be
excessive, or rebate opportunities
available at other venues to be more
favorable. In such an environment, the
Exchange must continually adjust its
fees to remain competitive with other
exchanges. Because competitors are free
to modify their own fees in response,
and because market participants may
readily adjust their order routing
practices, the Exchange believes that the
degree to which fee changes in this
market may impose any burden on
competition is extremely limited.
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 foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.10
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is: (i) necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include file number SR–
Phlx–2023–44 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–Phlx–2023–44. 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
10 15
VerDate Sep<11>2014
20:04 Oct 02, 2023
Jkt 262001
PO 00000
U.S.C. 78s(b)(3)(A)(ii).
Frm 00094
Fmt 4703
Sfmt 4703
68187
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
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–Phlx–2023–44 and should be
submitted on or before October 24,
2023.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023–21786 Filed 10–2–23; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–98565; File No. SRCboeBZX–2023–070]
Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Designation of a Longer Period for
Commission Action on a Proposed
Rule Change To List and Trade Shares
of the ARK 21Shares Ethereum ETF
Under BZX Rule 14.11(e)(4),
Commodity-Based Trust Shares
September 27, 2023.
On September 6, 2023, Cboe BZX
Exchange, Inc. (‘‘BZX’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b-4 thereunder,2 a proposed rule
change to list and trade shares of the
ARK 21Shares Ethereum ETF under
BZX Rule 14.11(e)(4), Commodity-Based
Trust Shares. The proposed rule change
was published for comment in the
Federal Register on September 27,
2023.3 The Commission has received no
comments on the proposal.
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 98467
(Sept. 21, 2023), 88 FR 66515.
1 15
E:\FR\FM\03OCN1.SGM
03OCN1
Agencies
[Federal Register Volume 88, Number 190 (Tuesday, October 3, 2023)]
[Notices]
[Pages 68186-68187]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-21786]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98561; File No. SR-Phlx-2023-44]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Pricing
Schedule at Options 7, Section 4 Regarding Marketing Fees
September 27, 2023.
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 September 13, 2023, Nasdaq PHLX LLC (``Phlx'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the 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 proposes to a proposal to amend its Pricing Schedule
at Options 7, Section 4.
The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/phlx/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 Exchange's Pricing Schedule at
Options 7, Section 4 to specify the application of its marketing fees.
Today, the Exchange delineates pricing for multiply-listed options in
Options 7, Section 4, including marketing fees (``Marketing Fees'').
The Marketing Fees for multiply-listed options are assessed on Lead
Market Makers,\3\ Market Makers,\4\ and Directed Market Makers \5\ for
trades resulting from either Directed or non-Directed Customer Orders
\6\ that are delivered electronically and executed on the Exchange,
with certain specified exceptions, including the exclusion of
transactions in broad-based index options symbols listed in Options 7,
Section 5.A.
---------------------------------------------------------------------------
\3\ The term ``Lead Market Maker'' applies to transactions for
the account of a Lead Market Maker (as defined in Options 2, Section
12(a)). A Lead Market Maker is an Exchange member who is registered
as an options Lead Market Maker pursuant to Options 2, Section
12(a). An options Lead Market Maker includes a Remote Lead Market
Maker which is defined as an options Lead Market Maker in one or
more classes that does not have a physical presence on an Exchange
floor and is approved by the Exchange pursuant to Options 2, Section
11.
\4\ The term ``Market Maker'' is defined in Options 1, Section
1(b)(28) as a member of the Exchange who is registered as an options
Market Maker pursuant to Options 2, Section 12(a). A Market Maker
includes SQTs and RSQTs as well as Floor Market Makers.
\5\ The term ``Directed Market Maker'' means a Market Maker that
receives a Directed Order in accordance with Options 2, Section 10.
\6\ The term ``Directed Order'' means any order to buy or sell
which has been directed to a particular Lead Market Maker, RSQT, or
SQT by an Order Flow Provider, as defined in Options 2, Section 10.
To qualify as a Directed Order, an order must be delivered to the
Exchange via the System.
---------------------------------------------------------------------------
The Exchange now proposes to amend the rule to specify that no
Marketing Fees will be assessed on transactions in options symbols
subject to Options 7, Section 5 pricing \7\ to make clear that the
exclusion also applies to all singly listed options subject to pricing
in Options 7, Section 5.C and Options 7, Section 5.D (in addition to
broad-based index options symbols in Options 7, Section 5.A, as
currently specified). The Exchange notes that this is not a change to
current practice; rather, the proposed changes are intended to
memorialize how the Exchange currently assesses Marketing Fees. Today,
the Exchange already indicates in the header of Options 7, Section 4
that the pricing set forth in Section 4 (including Marketing Fees)
applies only to multiply listed options excluding SPY and the broad-
based index options in Options 7, Section 5.A. Section 4 specifically
excludes the broad-based index options in Options 7, Section 5.A
because some of the symbols (like NDX) are multiply listed.
Furthermore, Options 7, Section 5 specifically indicates that the
pricing set forth in this Section 5 applies to index options and singly
listed options. By implication, options that are singly listed on Phlx,
and that are subject to Options 7, Section 5.C and Section 5.D pricing
are excluded from Options 7, Section 4 pricing like the Marketing Fees.
However, the Exchange believes that further clarity will be helpful by
explicitly stating this exclusion in the Marketing Fees portion of
Section 4 to avoid potential confusion by market participants and
investors.
---------------------------------------------------------------------------
\7\ Options 7, Section 5 sets forth pricing for index and singly
listed options (includes options overlying FX Options, equities,
ETFs, ETNs, and indexes not listed on another exchange).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\8\ in general, and furthers the objectives of Sections
6(b)(4) and 6(b)(5) of the Act,\9\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees, and other
charges among members and issuers and other persons using any facility,
and is not designed to permit unfair discrimination between customers,
issuers, brokers, or dealers.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed changes in Options 7,
Section 4 to specify that no Marketing Fees will be assessed on
transactions in options symbols subject to Options 7, Section 5 pricing
are reasonable because the changes will make clear that the exclusion
also applies to all singly listed options subject to pricing in Options
7, Section 5.C and Options 7, Section 5.D (in addition to broad-based
index options symbols in Options 7, Section 5.A, as currently
specified). As discussed above, the proposed changes will not amend
current practice; rather, the proposed changes are intended to
memorialize how the Exchange currently assesses Marketing Fees. While
the Exchange already indicates which sections of its Pricing Schedule
apply to which options in the manner discussed above, the Exchange
believes that further clarity will be helpful by explicitly stating in
the Marketing Fees pricing program itself that all symbols subject to
Options 7, Section 5 pricing
[[Page 68187]]
will be excluded from the Marketing Fees in order to avoid potential
confusion by market participants and investors. The Exchange also
believes that it is reasonable to exclude singly listed options in
Options 7, Section 5 from the Marketing Fees because the purpose of
this program is to generate more Customer order flow to the Exchange.
Because singly listed options are exclusively listed products on Phlx,
the Exchange does not believe that applying Marketing Fees is necessary
for these products.
Lastly, the Exchange believes that its proposal to memorialize that
all options symbols subject to Options 7, Section 5 pricing are
excluded from the Marketing Fees program set forth in Options 7,
Section 4 is equitable and not unfairly discriminatory because the
program will uniformly exclude all market participant orders in these
symbols. As noted above, the Exchange's proposal does not alter its
existing Marketing Fees program, but instead memorializes current
practice.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The Exchange does not believe
that its proposal would impose an undue burden on intra-market
competition. The proposed changes will memorialize current practice
that no Marketing Fees will be assessed on transactions in options
symbols subject to Options 7, Section 5 pricing, which will continue to
apply uniformly to all market participant orders in such symbols.
In terms of inter-market competition, the Exchange notes that it
operates in a highly competitive market in which market participants
can readily favor competing venues if they deem fee levels at a
particular venue to be excessive, or rebate opportunities available at
other venues to be more favorable. In such an environment, the Exchange
must continually adjust its fees to remain competitive with other
exchanges. Because competitors are free to modify their own fees in
response, and because market participants may readily adjust their
order routing practices, the Exchange believes that the degree to which
fee changes in this market may impose any burden on competition is
extremely limited.
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 foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\10\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to [email protected]. Please include
file number SR-Phlx-2023-44 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-Phlx-2023-44. 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
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-Phlx-2023-44 and should be
submitted on or before October 24, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21786 Filed 10-2-23; 8:45 am]
BILLING CODE 8011-01-P