MIAX Sapphire, LLC; Notice of Filing of Application for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934, 72116-72117 [2023-23036]

Download as PDF 72116 Federal Register / Vol. 88, No. 201 / Thursday, October 19, 2023 / Notices The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: Date of required notice: October 19, 2023. DATES: FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 6, 2023, it filed with the Postal Regulatory Commission a USPS Request to Add Ground Advantage® Contract 4 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2024–2, CP2024–2. SUPPLEMENTARY INFORMATION: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2023–23017 Filed 10–18–23; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail and USPS Ground Advantage® Negotiated Service Agreement AGENCY: ACTION: Product Change—Priority Mail and USPS Ground Advantage® Negotiated Service Agreement Postal ServiceTM. ACTION: Notice. AGENCY: The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Date of required notice: October 19, 2023. FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 12, 2023, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail & USPS Ground Advantage® Contract 75 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2024–10, CP2024–10. SUMMARY: Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2023–23025 Filed 10–18–23; 8:45 am] BILLING CODE 7710–12–P Postal ServiceTM. Notice. SECURITIES AND EXCHANGE COMMISSION The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: Date of required notice: October 19, 2023. DATES: FOR FURTHER INFORMATION CONTACT: Sean Robinson, 202–268–8405. The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on October 12, 2023, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail & USPS Ground Advantage® Contract 74 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2024–9, CP2024–9. SUPPLEMENTARY INFORMATION: lotter on DSK11XQN23PROD with NOTICES1 POSTAL SERVICE Sean Robinson, Attorney, Corporate and Postal Business Law. [FR Doc. 2023–23024 Filed 10–18–23; 8:45 am] BILLING CODE 7710–12–P VerDate Sep<11>2014 17:48 Oct 18, 2023 Jkt 262001 [Release No. 34–98746; File No. 10–240] MIAX Sapphire, LLC; Notice of Filing of Application for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934 October 13, 2023. On September 26, 2023, MIAX Sapphire, LLC (‘‘MIAX Sapphire’’ or ‘‘Applicant’’) submitted to the Securities and Exchange Commission (‘‘Commission’’) a Form 1 application under the Securities Exchange Act of 1934 (‘‘Exchange Act’’), seeking registration as a national securities exchange under section 6 of the Exchange Act. The Commission is publishing this notice to solicit comments on MIAX Sapphire’s Form 1 application. The Commission will take any comments it receives into consideration in making its determination about whether to grant MIAX Sapphire’s request to be registered as a national securities exchange. The Commission will grant the registration if it finds that the PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 requirements of the Exchange Act and the rules and regulations thereunder with respect to MIAX Sapphire are satisfied.1 The Applicant’s Form 1 application provides detailed information on how MIAX Sapphire proposes to satisfy the requirements of the Exchange Act. The Form 1 application also provides that MIAX Sapphire would operate a fully automated electronic trading platform for the trading of listed options. It also provides that liquidity would be derived from quotes as well as orders to buy and orders to sell submitted to MIAX Sapphire electronically by its registered broker-dealer members from remote locations. The Form 1 application further provides that there would be a physical trading floor located in Miami, Florida. MIAX Sapphire would have two types of members on the electronic trading platform, market makers and electronic exchange members, and two types of floor participants, floor brokers and floor market makers. Further, the Form 1 application states that MIAX Sapphire would be wholly-owned by its parent company, Miami International Holdings, Inc. (‘‘Miami Holdings’’), which is also the parent company of four existing national securities exchanges, Miami International Securities Exchange, LLC, MIAX PEARL, LLC, MIAX Emerald, LLC, and Minneapolis Grain Exchange, LLC.2 A more detailed description of the manner of operation of MIAX Sapphire’s proposed system can be found in Exhibit E to MIAX Sapphire’s Form 1 application. The proposed rulebook for the proposed exchange can be found in Exhibit B to MIAX Sapphire’s Form 1 application, and the governing documents for both MIAX Sapphire and Miami Holdings can be found in Exhibit A and Exhibit C to MIAX Sapphire’s Form 1 application, respectively. A listing of the officers and directors of MIAX Sapphire can be found in Exhibit J to MIAX Sapphire’s Form 1 application. A complete set of forms concerning membership and access can be found in Exhibit F to MIAX Sapphire’s Form 1 application. MIAX Sapphire’s Form 1 application, including all of the Exhibits referenced above, is available online at www.sec.gov/rules/other.shtml as well as in the Commission’s Public Reference Room. Interested persons are invited to submit written data, views, and 1 15 U.S.C. 78s(a). Grain Exchange, LLC is also a designated contract market and derivatives clearing organization that operates under the regulatory oversight of the Commodity Futures Trading Commission pursuant to section 5 of the Commodity Exchange Act. 7 U.S.C. 7. 2 Minneapolis E:\FR\FM\19OCN1.SGM 19OCN1 Federal Register / Vol. 88, No. 201 / Thursday, October 19, 2023 / Notices arguments concerning MIAX Sapphire’s Form 1, including whether the application is consistent with the Exchange Act. Comments may be submitted by any of the following methods: Sherry R. Haywood, Assistant Secretary. [FR Doc. 2023–23036 Filed 10–18–23; 8:45 am] BILLING CODE 8011–01–P Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/other.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number 10– 240 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. lotter on DSK11XQN23PROD with NOTICES1 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.3 All submissions should refer to File Number 10–240. 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/other.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to MIAX Sapphire’s Form 1 filed with the Commission, and all written communications relating to the application 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 10–240 and should be submitted on or before December 4, 2023. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–98752; File No. SR–MIAX– 2023–39] Self-Regulatory Organizations; Miami International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Modify Certain Connectivity and Port Fees October 13, 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 October 2, 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, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is filing a proposal to amend the MIAX Options Exchange Fee Schedule (‘‘Fee Schedule’’) to amend certain connectivity and port fees. 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 3 17 CFR 200.30–3(a)(71)(i). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 17:48 Oct 18, 2023 Jkt 262001 PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 72117 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 as follows: (1) increase the fees for a 10 gigabit (‘‘Gb’’) ultra-low latency (‘‘ULL’’) fiber connection for Members 3 and non-Members; and (2) amend the monthly port fee for additional Limited Service MIAX Express Interface (‘‘MEI’’) Ports 4 available to Market Makers.5 The Exchange and its affiliate, MIAX PEARL, LLC (‘‘MIAX Pearl’’) operated 10Gb ULL connectivity (for MIAX Pearl’s options market) on a single shared network that provided access to both exchanges via a single 10Gb ULL connection. The Exchange last increased fees for 10Gb ULL connections from $9,300 to $10,000 per month on January 1, 2021.6 At the same time, MIAX Pearl also increased its 10Gb ULL connectivity fee from $9,300 to $10,000 per month.7 The Exchange and MIAX Pearl shared a combined cost analysis in those filings due to the single shared 10Gb ULL connectivity network for both exchanges. In those filings, the Exchange and MIAX Pearl allocated a combined total of $17.9 million in expenses to providing 10Gb ULL connectivity.8 Beginning in late January 2023, the Exchange also recently determined a substantial operational need to no longer operate 10Gb ULL connectivity on a single shared network with MIAX Pearl. The Exchange bifurcated 10Gb ULL connectivity due to ever-increasing 3 The term ‘‘Member’’ means an individual or organization approved to exercise the trading rights associated with a Trading Permit. Members are deemed ‘‘members’’ under the Exchange Act. See Exchange Rule 100. 4 The MIAX Express Interface (‘‘MEI’’) is a connection to MIAX systems that enables Market Makers to submit simple and complex electronic quotes to MIAX. See Fee Schedule, note 26. 5 The term ‘‘Market Makers’’ refers to Lead Market Makers (‘‘LMMs’’), Primary Lead Market Makers (‘‘PLMMs’’), and Registered Market Makers (‘‘RMMs’’) collectively. See Exchange Rule 100. For purposes of Limit Service MEI Ports, Market Makers also include firms that engage in other types of liquidity activity, such as seeking to remove resting liquidity from the Exchange’s Book. 6 See Securities Exchange Act Release No. 90980 (January 25, 2021), 86 FR 7602 (January 29, 2021) (SR–MIAX–2021–02). 7 See Securities Exchange Act Release No. 90981 (January 25, 2021), 86 FR 7582 (January 29, 2021) (SR–PEARL–2021–01). 8 See id. E:\FR\FM\19OCN1.SGM 19OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 88, Number 201 (Thursday, October 19, 2023)]
[Notices]
[Pages 72116-72117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-23036]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98746; File No. 10-240]


MIAX Sapphire, LLC; Notice of Filing of Application for 
Registration as a National Securities Exchange Under Section 6 of the 
Securities Exchange Act of 1934

October 13, 2023.
    On September 26, 2023, MIAX Sapphire, LLC (``MIAX Sapphire'' or 
``Applicant'') submitted to the Securities and Exchange Commission 
(``Commission'') a Form 1 application under the Securities Exchange Act 
of 1934 (``Exchange Act''), seeking registration as a national 
securities exchange under section 6 of the Exchange Act.
    The Commission is publishing this notice to solicit comments on 
MIAX Sapphire's Form 1 application. The Commission will take any 
comments it receives into consideration in making its determination 
about whether to grant MIAX Sapphire's request to be registered as a 
national securities exchange. The Commission will grant the 
registration if it finds that the requirements of the Exchange Act and 
the rules and regulations thereunder with respect to MIAX Sapphire are 
satisfied.\1\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(a).
---------------------------------------------------------------------------

    The Applicant's Form 1 application provides detailed information on 
how MIAX Sapphire proposes to satisfy the requirements of the Exchange 
Act. The Form 1 application also provides that MIAX Sapphire would 
operate a fully automated electronic trading platform for the trading 
of listed options. It also provides that liquidity would be derived 
from quotes as well as orders to buy and orders to sell submitted to 
MIAX Sapphire electronically by its registered broker-dealer members 
from remote locations. The Form 1 application further provides that 
there would be a physical trading floor located in Miami, Florida. MIAX 
Sapphire would have two types of members on the electronic trading 
platform, market makers and electronic exchange members, and two types 
of floor participants, floor brokers and floor market makers. Further, 
the Form 1 application states that MIAX Sapphire would be wholly-owned 
by its parent company, Miami International Holdings, Inc. (``Miami 
Holdings''), which is also the parent company of four existing national 
securities exchanges, Miami International Securities Exchange, LLC, 
MIAX PEARL, LLC, MIAX Emerald, LLC, and Minneapolis Grain Exchange, 
LLC.\2\
---------------------------------------------------------------------------

    \2\ Minneapolis Grain Exchange, LLC is also a designated 
contract market and derivatives clearing organization that operates 
under the regulatory oversight of the Commodity Futures Trading 
Commission pursuant to section 5 of the Commodity Exchange Act. 7 
U.S.C. 7.
---------------------------------------------------------------------------

    A more detailed description of the manner of operation of MIAX 
Sapphire's proposed system can be found in Exhibit E to MIAX Sapphire's 
Form 1 application. The proposed rulebook for the proposed exchange can 
be found in Exhibit B to MIAX Sapphire's Form 1 application, and the 
governing documents for both MIAX Sapphire and Miami Holdings can be 
found in Exhibit A and Exhibit C to MIAX Sapphire's Form 1 application, 
respectively. A listing of the officers and directors of MIAX Sapphire 
can be found in Exhibit J to MIAX Sapphire's Form 1 application. A 
complete set of forms concerning membership and access can be found in 
Exhibit F to MIAX Sapphire's Form 1 application.
    MIAX Sapphire's Form 1 application, including all of the Exhibits 
referenced above, is available online at www.sec.gov/rules/other.shtml 
as well as in the Commission's Public Reference Room. Interested 
persons are invited to submit written data, views, and

[[Page 72117]]

arguments concerning MIAX Sapphire's Form 1, including whether the 
application is consistent with the Exchange 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/other.shtml); or
     Send an email to [email protected]. Please include 
File Number 10-240 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 10-240. 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/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to MIAX Sapphire's Form 1 filed with the 
Commission, and all written communications relating to the application 
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 10-240 and should be 
submitted on or before December 4, 2023.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\3\
---------------------------------------------------------------------------

    \3\ 17 CFR 200.30-3(a)(71)(i).

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-23036 Filed 10-18-23; 8:45 am]
BILLING CODE 8011-01-P

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