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Federal Register / Vol. 86, No. 150 / Monday, August 9, 2021 / Notices information collection by selecting Currently under 30-day ReviewOpen for Public Comments or by using the search function. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to i www.reginfo.gov/public/do/
PRAMain and ii David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or by sending an email to: PRA_Mailbox@sec.gov.
Dated: August 4, 2021.
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202116905 Filed 8621; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492555; File No. SRBOX
202107

Self-Regulatory Organizations; BOX
Exchange LLC; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, To Adopt BOX Rule 7670 To Establish a Virtual Trading Floor on BOX
August 3, 2021.

I. Introduction On April 16, 2021, BOX Exchange LLC Exchange filed with the Securities and Exchange Commission Commission, pursuant to Section 19b1 of the Securities Exchange Act of 1934 Act 1 and Rule 19b4
thereunder,2 a proposed rule change to establish a virtual trading floor on the Exchange. The proposed rule change was published for comment in the Federal Register on May 5, 2021.3 On June 16, 2021, pursuant to Section 19b2 of the Act,4 the Commission designated a longer period within which to either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.5 On July 20, 2021, the Exchange filed Amendment 1 15

U.S.C.78sb1.
CFR 240.19b4.
3 See Securities Exchange Act Release No. 91714
April 29, 2021, 86 FR 24119.
4 15 U.S.C. 78sb2.
5 See Securities Exchange Act Release No. 92192, 86 FR 32989 June 23, 2021. The Commission designated August 3, 2021, as the date by which it should approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change.

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No. 1 to the proposed rule change, which replaced and superseded the proposed rule change.6 This order approves the proposed rule change, as modified by Amendment No. 1, on an accelerated basis.
II. Description of the Proposed Rule Change, as Modified by Amendment No. 1 7
On March 20, 2020, the Exchange closed its physical Trading Floor located in Chicago, Illinois, as a result of precautions taken with respect to COVID19, and operated in an allelectronic configuration until May 4, 2020, when the Exchange reopened its physical Trading Floor.8 According to the Exchange, due to the uncertainty regarding the ongoing pandemic, it proposes to adopt Rule 7670, which would permit the Exchange to conduct open outcry trading virtually.
Specifically, proposed Rule 7670a1
would allow the Exchange to activate an audio and video communication program to serve as a Virtual Trading Floor during regular trading hours in the event the physical Trading Floor becomes inoperable.9
According to the proposal, the Exchange would create a Virtual Trading Pit where each Participant authorized to access the Virtual Trading Floor and enters the Virtual Trading Pit will be visible, and may speak, to all other Participants in the Virtual Trading Pit.10 Any Floor Market Maker authorized to act on the physical Trading Floor will receive access to the Virtual Trading Pit on the Virtual Trading Floor and will have an appointment to trade all classes.11 The 6 In Amendment No. 1, the Exchange: 1 Amends the proposed rule text to specify that Floor Brokers would be required to enter their orders into the electronic blotter at the same time they open outcry the order to the Virtual Trading Crowd as defined below; 2 makes revisions and technical corrections to the proposed rule text for consistency and to more clearly reflect the description of the proposed rule change; 3 makes technical corrections and revisions to the description of the proposed rule change for readability and consistency; and 4 provides additional detail to certain aspects of the description of the proposed rule change. Amendment No. 1 is available on the Commissions website at: https www.sec.gov/
comments/sr-box-2021-07/srbox202107-9086236246706.pdf.
7 All defined terms not defined herein are defined in the BOX Rules.
8 See Amendment No. 1, supra note 6, at 34.
9 According to the Exchange, if the physical Trading Floor becomes inoperable and the Exchange does not make a Virtual Trading Floor available, the Exchange will continue to operate in an electronic-only environment; open outcry trading will not be available while the physical Trading Floor facility is inoperable. See proposed Rule 7670a.
10 See Amendment No. 1, supra note 6, at 6.
11 See id. at 8.

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Exchange believes that its proposal will allow the same communication capabilities Participants generally have on the physical Trading Floor so that they may conduct open outcry trading on the Virtual Trading Floor in the same manner as they do on the physical Trading Floor.12
All rules related to open outcry trading will apply to open outcry trading on the Virtual Trading Floor in the same manner as they apply on the physical Trading Floor, except that proposed Rule 7670a1AG will also apply to trading on the Virtual Trading Floor as follows.
Proposed Rule 7670a1A lists certain terms in the Rules related to open outcry trading on the physical Trading Floor that will be deemed to refer to corresponding terms related to open outcry trading on the Virtual Trading Floor. Specifically:
References in the Rules to the Floor, Trading Floor, and Exchange Floor and any other terms with the same meaning will be deemed to refer to the Virtual Trading Floor;
References in the Rules to the Pit and the Crowd Area and any other terms with the same meaning will be deemed to refer to the Virtual Trading Pit or the Virtual Trading Crowd;
and The term In-crowd Floor Participant will be deemed to mean a Floor Market Maker or a Floor Brooker representing an order in the Virtual Trading Pit on the Virtual Trading Floor.
Pursuant to proposed Rule 7670a1B, access to the Virtual Trading Floor will be limited to Floor Participants, Clerks, Exchange employees, and any other persons the Exchange authorizes admission to the Virtual Trading Floor.13 The Exchange will provide access to the Virtual Trading Floor to Participants the Exchange already has approved to perform a Trading Floor function including Floor Brokers and Floor Market Makers.14 According to the proposed Rule, each authorized individual will receive one log-in to the Virtual Trading Floor, and the Exchange will track which individuals participate on the Virtual Trading Floor, including when they log-in and log-out.15 The Exchange represents that access to the Virtual Trading Floor will be 12 See
id. at 6.
proposed Rule 7670a1B.
14 See Amendment No. 1, supra note 6, at 78.
15 See id. at 89.
13 See
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