Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Options Order Protection and Locked/Crossed Market Plan To Add MIAX Sapphire, LLC, as a Participant, 65467-65468 [2024-17686]

Download as PDF Federal Register / Vol. 89, No. 154 / Friday, August 9, 2024 / Notices to the concerns identified above as well as any other relevant concerns. Such comments should be submitted by August 30, 2024. Rebuttal comments should be submitted by September 13, 2024. Although there do not appear to be any issues relevant to approval or disapproval that would be facilitated by an oral presentation of views, data, and arguments, the Commission will consider, pursuant to Rule 19b–4, any request for an opportunity to make an oral presentation.179 The Commission asks that commenters address the sufficiency and merit of the Exchange’s statements in support of the Proposal, in addition to any other comments they may wish to submit about the proposed rule changes. 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– CboeBZX–2024–051 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–CboeBZX–2024–051. 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 179 15 U.S.C. 78s(b)(2). Section 19(b)(2) of the Act grants the Commission flexibility to determine what type of proceeding—either oral or notice and opportunity for written comments—is appropriate for consideration of a particular proposal by an SRO. See Securities Acts Amendments of 1975, Report of the Senate Committee on Banking, Housing and Urban Affairs to Accompany S. 249, S. Rep. No. 75, 94th Cong., 1st Sess. 30 (1975). VerDate Sep<11>2014 19:21 Aug 08, 2024 Jkt 262001 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–CboeBZX–2024–051 and should be submitted on or before August 30, 2024. Rebuttal comments should be submitted by September 13, 2024. VI. Conclusion It is therefore ordered, pursuant to Section 19(b)(3)(C) of the Act,180 that File No. SR–CboeBZX–2024–051, be and hereby is, temporarily suspended. In addition, the Commission is instituting proceedings to determine whether the proposed rule change should be approved or disapproved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.181 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–17688 Filed 8–8–24; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–100657; File No. 4–546] Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment to the Options Order Protection and Locked/Crossed Market Plan To Add MIAX Sapphire, LLC, as a Participant August 5, 2024. Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 608 thereunder,2 notice is hereby given that on July 30, 2024, MIAX Sapphire, LLC (‘‘MIAX Sapphire’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) an amendment to the Options Order Protection and Locked/ 180 15 U.S.C. 78s(b)(3)(C). CFR 200.30–3(a)(57). 1 15 U.S.C. 78k–1(a)(3). 2 17 CFR 242.608. 181 17 PO 00000 Frm 00156 Fmt 4703 Sfmt 4703 65467 Crossed Market Plan (‘‘Plan’’).3 The amendment adds MIAX Sapphire as a Participant 4 to the Plan. The Commission is publishing this notice to solicit comments on the amendment from interested persons. I. Description and Purpose of the Amendment The Plan requires the options exchanges to establish a framework for providing order protection and addressing locked and crossed markets in eligible options classes. The amendment to the Plan adds MIAX Sapphire as a Participant. The other Plan Participants are BATS, BOX, BX, C2, CBOE, EDGX, Emerald, ISE, ISE Gemini, ISE Mercury, MEMX, MIAX, Nasdaq, Pearl, Phlx, NYSE MKT, and NYSE Arca. MIAX Sapphire has submitted an executed copy of the Plan to the Commission in accordance with the procedures set forth in the Plan regarding new Participants. Section 3(c) of the Plan provides for the entry of new Participants to the Plan. Specifically, Section 3(c) of the Plan provides that an Eligible Exchange 5 may become a 3 On July 30, 2009, the Commission approved the Plan, which was proposed by Chicago Board Options Exchange, Incorporated (‘‘CBOE’’), International Securities Exchange, LLC (‘‘ISE’’), The NASDAQ Stock Market LLC (‘‘Nasdaq’’), NASDAQ OMX BX, Inc. (‘‘BX’’), NASDAQ OMX PHLX, Inc. (‘‘Phlx’’), NYSE Amex, LLC (‘‘NYSE Amex’’), and NYSE Arca, Inc. (‘‘NYSE Arca’’). See Securities Exchange Act Release No. 60405 (July 30, 2009), 74 FR 39362 (Aug. 6, 2009). See also Securities Exchange Act Release No. 61546 (Feb. 19, 2010), 75 FR 8762 (Feb. 25, 2010)(adding BATS Exchange, Inc. (‘‘BATS’’) as a Participant); 63119 (Oct. 15, 2010), 75 FR 65536 (Oct. 25, 2010)(adding C2 Options Exchange, Incorporated (‘‘C2’’) as a Participant); 66969 (May 12, 2015), 77 FR 29396 (May 17, 2012) (adding BOX Options Exchange LLC (‘‘BOX Options’’) as a Participant); 70763 (Oct. 28, 2013), 78 FR 65740 (Nov. 1, 2013) (adding Topaz Exchange, LLC (‘‘Topaz’’) as a Participant); 70762 (Oct. 28, 2013), 78 FR 65733 (Nov. 1, 2013) (adding MIAX International Securities Exchange, LLC (‘‘MIAX’’) as a Participant); 76823 (Jan. 5, 2016), 81 FR 1260 (Jan. 11, 2016) (adding EDGX Exchange, Inc. (‘‘EDGX’’) as a Participant); 77324 (Mar. 8, 2016), 81 FR 13425 (Mar. 14, 2016) (adding ISE MERCURY, LLC (‘‘ISE Mercury’’) as a Participant); 79896 (Jan. 30, 2017), 82 FR 9264 (Feb. 3, 2017) (adding MIAX Pearl ‘‘Pearl’’) as a Participant); 85229 (Mar. 1, 2019), 84 FR 8347 (Mar. 7, 2019) (adding MIAX Emerald, LLC (‘‘Emerald’’) as a Participant); 98303 (Sept. 6, 2023), 88 FR 62610 (Sept. 12, 2023) (adding MEMX, LLC (‘‘MEMX’’) as a Participant). 4 The term ‘‘Participant’’ is defined as an Eligible Exchange whose participation in the Plan has become effective pursuant to Section 3(c) of the Plan. 5 Section 2(6) of the Plan defines an ‘‘Eligible Exchange’’ as a national securities exchange registered with the Commission pursuant to Section 6(a) of the Act, 15 U.S.C. 78f(a), that: (a) is a ‘‘Participant Exchange’’ in the Options Clearing Corporation (‘‘OCC’’) (as defined in OCC By-laws, Section VII); (b) is a party to the Options Price Reporting Authority (‘‘OPRA’’) Plan (as defined in the OPRA Plan, Section 1); and (c) if the national Continued E:\FR\FM\09AUN1.SGM 09AUN1 65468 Federal Register / Vol. 89, No. 154 / Friday, August 9, 2024 / Notices Participant in the Plan by: (i) executing a copy of the Plan, as then in effect; (ii) providing each current Participant with a copy of such executed Plan; and (iii) effecting an amendment to the Plan, as specified in Section 4(b) of the Plan.6 Section 4(b) of the Plan sets forth the process by which an Eligible Exchange may effect an amendment to the Plan. Specifically, an Eligible Exchange must: (a) execute a copy of the Plan with the only change being the addition of the new Participant’s name in Section 3(a) of the Plan; and (b) submit the executed Plan to the Commission. The Plan then provides that such an amendment will be effective when the amendment is approved by the Commission or otherwise becomes effective pursuant to Section 11A of the Act and Rule 608 thereunder. II. Effectiveness of the Proposed Linkage Plan Amendment The foregoing Plan amendment has become effective pursuant to Rule 608(b)(3)(iii) 7 because it has been designated as involving solely technical or ministerial matters. At any time within sixty days of the filing of this amendment, the Commission may summarily abrogate the amendment and require that it be refiled pursuant to paragraph (a)(1) of Rule 608,8 if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or the maintenance of fair and orderly markets, to remove impediments to, and perfect the mechanisms of, a national market system or otherwise in furtherance of the purposes of the Act. ddrumheller on DSK120RN23PROD with NOTICES1 III. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the amendment is consistent with the Act and the rules thereunder. Comments may be submitted by any of the following methods: securities exchange chooses not to become part to this Plan, is a participant in another plan approved by the Commission providing for comparable Trade-Through and Locked and Crossed Market protection. MIAX Sapphire has represented that it has met the requirements for being considered an Eligible Exchange. See letter from Gregory P. Ziegler, Vice President and Senior Counsel, MIAX Sapphire, to Vanessa Countryman, Secretary, Commission, dated July 30, 2024. 6 MIAX Sapphire has represented that it has executed a copy of the current Plan, amended to include MIAX Sapphire as a Participant and has sent each current Participant a copy of the executed Plan. See letter from Gregory P. Ziegler, Vice President and Senior Counsel, MIAX Sapphire, to Vanessa Countryman, Secretary, Commission, dated July 30, 2024. 7 17 CFR 242.608(b)(3)(iii). 8 17 CFR 242.608(a)(1). VerDate Sep<11>2014 19:21 Aug 08, 2024 Jkt 262001 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 4– 546 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 4–546. 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 4–546 and should be submitted on or before August 30, 2024. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Sherry R. Haywood, Assistant Secretary. [FR Doc. 2024–17686 Filed 8–8–24; 8:45 am] BILLING CODE 8011–01–P 9 17 PO 00000 CFR 200.30–3(a)(85). Frm 00157 Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [SEC File No. 270–347, OMB Control No. 3235–0393] Submission for OMB Review; Comment Request; Extension: Rule 15g–4 Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549–2736 Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995 (‘‘PRA’’) (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (‘‘Commission’’) has submitted to the Office of Management and Budget (‘‘OMB’’) a request for extension of the existing collection of information provided for in Rule 15g–4—Disclosure of compensation to brokers or dealers (17 CRF 240.15g–4) under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.). Rule 15g–4 requires brokers and dealers effecting transactions in penny stocks for or with customers to disclose the amount of compensation received by the broker-dealer in connection with the transaction. The purpose of the rule is to increase the level of disclosure to investors concerning penny stocks generally and specific penny stock transactions. The Commission estimates that approximately 170 broker-dealers will each spend an average of approximately 87.0833333 hours annually to comply with this rule. Thus, the total time burden is approximately 14,804 hours per year. Rule 15g–4 contains record retention requirements. Compliance with the rule is mandatory. The required records are available only to the examination staff of the Commission and the self regulatory organizations of which the broker-dealer is a member. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information under the PRA unless it displays a currently valid OMB control number. The public may view background documentation for this information collection at the following website: www.reginfo.gov. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Written comments and recommendations for the proposed information collection should be sent by September 9, 2024 to (i) www.reginfo.gov/public/do/PRAMain E:\FR\FM\09AUN1.SGM 09AUN1

Agencies

[Federal Register Volume 89, Number 154 (Friday, August 9, 2024)]
[Notices]
[Pages 65467-65468]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-17686]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-100657; File No. 4-546]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Options Order Protection and Locked/Crossed Market 
Plan To Add MIAX Sapphire, LLC, as a Participant

August 5, 2024.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given 
that on July 30, 2024, MIAX Sapphire, LLC (``MIAX Sapphire'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') an amendment to the Options Order Protection and 
Locked/Crossed Market Plan (``Plan'').\3\ The amendment adds MIAX 
Sapphire as a Participant \4\ to the Plan. The Commission is publishing 
this notice to solicit comments on the amendment from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ On July 30, 2009, the Commission approved the Plan, which 
was proposed by Chicago Board Options Exchange, Incorporated 
(``CBOE''), International Securities Exchange, LLC (``ISE''), The 
NASDAQ Stock Market LLC (``Nasdaq''), NASDAQ OMX BX, Inc. (``BX''), 
NASDAQ OMX PHLX, Inc. (``Phlx''), NYSE Amex, LLC (``NYSE Amex''), 
and NYSE Arca, Inc. (``NYSE Arca''). See Securities Exchange Act 
Release No. 60405 (July 30, 2009), 74 FR 39362 (Aug. 6, 2009). See 
also Securities Exchange Act Release No. 61546 (Feb. 19, 2010), 75 
FR 8762 (Feb. 25, 2010)(adding BATS Exchange, Inc. (``BATS'') as a 
Participant); 63119 (Oct. 15, 2010), 75 FR 65536 (Oct. 25, 
2010)(adding C2 Options Exchange, Incorporated (``C2'') as a 
Participant); 66969 (May 12, 2015), 77 FR 29396 (May 17, 2012) 
(adding BOX Options Exchange LLC (``BOX Options'') as a 
Participant); 70763 (Oct. 28, 2013), 78 FR 65740 (Nov. 1, 2013) 
(adding Topaz Exchange, LLC (``Topaz'') as a Participant); 70762 
(Oct. 28, 2013), 78 FR 65733 (Nov. 1, 2013) (adding MIAX 
International Securities Exchange, LLC (``MIAX'') as a Participant); 
76823 (Jan. 5, 2016), 81 FR 1260 (Jan. 11, 2016) (adding EDGX 
Exchange, Inc. (``EDGX'') as a Participant); 77324 (Mar. 8, 2016), 
81 FR 13425 (Mar. 14, 2016) (adding ISE MERCURY, LLC (``ISE 
Mercury'') as a Participant); 79896 (Jan. 30, 2017), 82 FR 9264 
(Feb. 3, 2017) (adding MIAX Pearl ``Pearl'') as a Participant); 
85229 (Mar. 1, 2019), 84 FR 8347 (Mar. 7, 2019) (adding MIAX 
Emerald, LLC (``Emerald'') as a Participant); 98303 (Sept. 6, 2023), 
88 FR 62610 (Sept. 12, 2023) (adding MEMX, LLC (``MEMX'') as a 
Participant).
    \4\ The term ``Participant'' is defined as an Eligible Exchange 
whose participation in the Plan has become effective pursuant to 
Section 3(c) of the Plan.
---------------------------------------------------------------------------

I. Description and Purpose of the Amendment

    The Plan requires the options exchanges to establish a framework 
for providing order protection and addressing locked and crossed 
markets in eligible options classes. The amendment to the Plan adds 
MIAX Sapphire as a Participant. The other Plan Participants are BATS, 
BOX, BX, C2, CBOE, EDGX, Emerald, ISE, ISE Gemini, ISE Mercury, MEMX, 
MIAX, Nasdaq, Pearl, Phlx, NYSE MKT, and NYSE Arca. MIAX Sapphire has 
submitted an executed copy of the Plan to the Commission in accordance 
with the procedures set forth in the Plan regarding new Participants. 
Section 3(c) of the Plan provides for the entry of new Participants to 
the Plan. Specifically, Section 3(c) of the Plan provides that an 
Eligible Exchange \5\ may become a

[[Page 65468]]

Participant in the Plan by: (i) executing a copy of the Plan, as then 
in effect; (ii) providing each current Participant with a copy of such 
executed Plan; and (iii) effecting an amendment to the Plan, as 
specified in Section 4(b) of the Plan.\6\
---------------------------------------------------------------------------

    \5\ Section 2(6) of the Plan defines an ``Eligible Exchange'' as 
a national securities exchange registered with the Commission 
pursuant to Section 6(a) of the Act, 15 U.S.C. 78f(a), that: (a) is 
a ``Participant Exchange'' in the Options Clearing Corporation 
(``OCC'') (as defined in OCC By-laws, Section VII); (b) is a party 
to the Options Price Reporting Authority (``OPRA'') Plan (as defined 
in the OPRA Plan, Section 1); and (c) if the national securities 
exchange chooses not to become part to this Plan, is a participant 
in another plan approved by the Commission providing for comparable 
Trade-Through and Locked and Crossed Market protection. MIAX 
Sapphire has represented that it has met the requirements for being 
considered an Eligible Exchange. See letter from Gregory P. Ziegler, 
Vice President and Senior Counsel, MIAX Sapphire, to Vanessa 
Countryman, Secretary, Commission, dated July 30, 2024.
    \6\ MIAX Sapphire has represented that it has executed a copy of 
the current Plan, amended to include MIAX Sapphire as a Participant 
and has sent each current Participant a copy of the executed Plan. 
See letter from Gregory P. Ziegler, Vice President and Senior 
Counsel, MIAX Sapphire, to Vanessa Countryman, Secretary, 
Commission, dated July 30, 2024.
---------------------------------------------------------------------------

    Section 4(b) of the Plan sets forth the process by which an 
Eligible Exchange may effect an amendment to the Plan. Specifically, an 
Eligible Exchange must: (a) execute a copy of the Plan with the only 
change being the addition of the new Participant's name in Section 3(a) 
of the Plan; and (b) submit the executed Plan to the Commission. The 
Plan then provides that such an amendment will be effective when the 
amendment is approved by the Commission or otherwise becomes effective 
pursuant to Section 11A of the Act and Rule 608 thereunder.

II. Effectiveness of the Proposed Linkage Plan Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) \7\ because it has been designated as involving solely 
technical or ministerial matters. At any time within sixty days of the 
filing of this amendment, the Commission may summarily abrogate the 
amendment and require that it be refiled pursuant to paragraph (a)(1) 
of Rule 608,\8\ if it appears to the Commission that such action is 
necessary or appropriate in the public interest, for the protection of 
investors, or the maintenance of fair and orderly markets, to remove 
impediments to, and perfect the mechanisms of, a national market system 
or otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(a)(1).
---------------------------------------------------------------------------

III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment is 
consistent with the Act and the rules thereunder. 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 4-546 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 4-546. 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 4-546 and should be submitted on or before 
August 30, 2024.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(85).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-17686 Filed 8-8-24; 8:45 am]
BILLING CODE 8011-01-P
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