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Federal Register / Vol. 86, No. 26 / Wednesday, February 10, 2021 / Notices relocated to from current Rule 3301 as proposed herein. The current Phlx Rulebook does not contain PSX Rule 0120.
Equity 6
The Exchange proposes to title Equity 6, which is currently reserved, as PSX
Risk Management Services; Other Systems and Programs, and to relocate the following rules into Equity 6:
Shell rule Section Section Section Section
1 2
3 4

Section 5

Section 6

Current rule Reserved.
Reserved.
3316. PHLX Kill Switch.
3215. Exchange Sharing of PSX Participant Risk Settings excluding Commentary.
Commentary to 3215. Exchange Sharing of PSX
Participant Risk Settings.
Reserved.

Equity 9
The Exchange proposes to re-title Equity 9, currently Supplementary Conduct Rules, to Business Conduct, and to relocate the following rules into Equity 9:
Shell rule Section Section Section Section Section Section Section Section Section Section Section Section Section Section Section
Current rule
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Section 16

Equity 8

Section 17
Section 18

The Exchange proposes to reserve Equity 8 which is currently titled Uniform Practice Code.

Section 19

Equity 8A

Section 20

The Exchange proposes to title Equity 8A as Unlisted Trading Privileges, Proxy and Other Rules. The Exchange proposes to relocate the following rules into Equity 8A:

Section 21

Shell rule Section Section Section Section Section
1 2
3 4
5

Section 6
Section 7

Section 8

Section 9
Section 10
Section 11
Section 12
Section 13
Section 14

Section 15

VerDate Sep<11>2014

Reserved.
Reserved.
Reserved.
Reserved.
3204. Securities Traded under Unlisted Trading Privileges.
3232. Advertising Practices.
3233. Prevention of the Misuse of Material, Nonpublic Information.
3234. Additional Requirements for Securities Issued by Nasdaq or its Affiliates.
3236. Restriction.
3237. Voting Instructions.
3238. Proxies at Direction of Owner.
3239. Proxy to Show Number of Shares.
3240. Transfer to Facilitate Solicitation.
3241. Rule Applicable to Individual Members and Nominees.
3242. Transmission of Interim Reports and Other Material.

Jkt 253001

Section 23

Equity 10

Current rule
18:53 Feb 09, 2021

Section 22

Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
3410. Limitations on Members Trading Because of Customers Orders.
3411. Successive Transactions by Members.
3412. Short Sales.
3413. Proper and Adequate Margin.
3414. Prohibition on FreeRiding in Cash Accounts.
3500. Financial Responsibility and Reporting.
3502. Automated Submission of Trading Data.
3505. Restrictions on Pledge of Customers Securities.
3501. Independent Audit.

The Exchange proposes to title Equity 10, which is currently reserved, to Other Products and Securities, and to relocate the following rules into Equity 10:
Shell rule Section Section Section Section Section Section Section Section
1 2
3 4
5 6
7 8

Current rule

Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
Reserved.
3230. Trading in CommodityRelated Securities.

Equity 11
The Exchange proposes to adopt a new Equity 11 and title this section Uniform Practice Code. The following rules will be relocated into Equity 11:
Shell rule
Current rule
Section 1
Section 2

PO 00000

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3400. Dealings on the ExchangeSecurities.
3401. Bids and Offers When Issue.

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Sfmt 4703

Shell rule
Current rule
Section 3

3402. Price of Execution Binding.
3403. Payment on DeliveryCollect on Delivery.
3404. Book-Entry Settlement.
3405. Ex-dividend, Ex-rights.
3406. Ex-warrants.
3407. Buyer Entitled to Dividend, etc.
3408. Claims for Dividend, etc.
3409. Taking or Supplying Securities Named in Order.

Section 4
Section 5
Section 6
Section 7
Section 8
Section 9
Section 10

2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6b of the Act,10 in general, and furthers the objectives of Section 6b5 of the Act,11
in particular, in that it is designed to promote just and equitable principles of trade and to protect investors and the public interest by bringing greater transparency to its rules by relocating the equity and general rules into the new Rulebook shell together with other rules which have already been relocated.12 The Exchanges proposal is consistent with the Act and will protect investors and the public interest by harmonizing its rules, where applicable, across Nasdaq markets so that members can readily locate rules which cover similar topics. The relocation and harmonization of the Exchanges Rules are part of the Exchanges continued effort to promote efficiency and conformity of its processes with those of its affiliated exchanges. The Exchange believes that the placement of the PSX
Rules into their new location in the shell will facilitate the use of the Rulebook by members. Specifically, the Exchange believes that market participants that are members of more than one Nasdaq market will benefit from the ability to compare Rulebooks.
The Exchange is not substantively amending rule text. The renumbering, re-lettering, deleting reserved and already deleted rules, amending crossreferences and other minor technical changes will bring greater transparency to the Exchanges Rules. The Exchanges affiliates intend to file similar rule changes to relocate their respective equity and general rules into the same location in each Rulebook for ease of reference. The Exchange believes its proposal will benefit investors and the general public by increasing the transparency of its Rulebook and 10 15

U.S.C. 78fb.
U.S.C. 78fb5.
12 See supra note 3.
11 15

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