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Federal Register / Vol. 86, No. 180 / Tuesday, September 21, 2021 / Notices term. ISE has this rule text within its Options 4, Section 8a.
The Exchange proposes to incorporate by reference the NOM Options 4 Rules to ISE Options 4 Rules. To that end, NOM proposes to replace the current NOM Options 4 Rules with the following rule text:
The rules contained in Nasdaq ISE Options 4, as such rules may be in effect from time to time the Options 4 Rules, are hereby incorporated by reference into this NOM
Options 4, and are thus NOM Rules and thereby applicable to NOM Participants.
NOM Participants shall comply with the Options 4 Rules as though such rules were fully set forth herein. All defined terms, including any variations thereof, contained in the Options 4 Rules shall be read to refer to the NOM related meaning of such term.
Solely by way of example, and not in limitation or in exhaustion: The defined term Exchange in the Options 4 Rules shall be read to refer to NOM; the defined term Rule in the Options 4 Rules shall be read to refer to the NOM Rule; the defined terms Competitive Market Maker and Market Maker in the Options 4 Rules shall be read to refer to the NOM Market Maker NOM
does not have an equivalent to the Lead Market Maker term on ISE; and the defined terms Electronic Access Member, EAM, or Member in the Options 4 Rules shall be read to refer to the NOM Participant.

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This rule text will account for differences that may exist in the usage of terms as between NOM and ISE. The proposed rule text list instances in which cross references in the ISE
Options 4 Rules to NOM Options 4
Rules shall be read to refer instead to the Exchange Rules, and references to ISE terms whether or not defined shall be read to refer to the Exchange-related meanings of those terms. For instance, references to defined terms Exchange or ISE shall be read to refer to ISE.
The Exchange proposes to delete in their entirety the NOM Options 4 Rules and incorporate by reference the ISE
Options 4 Rules.6 Today, the rules of Nasdaq GEMX, LLC and Nasdaq MRX, LLC are incorporated by reference to the rules of ISE. The Exchange will also separately file to incorporate the Options 4 Rules of Nasdaq BX, Inc. and Nasdaq Phlx LLC to the ISE Options 4
Rules once those exchanges conform those rules, respectively, to ISE. The Exchange believes that harmonizing the Options 4 Rules across its 6 Nasdaq Affiliated Options Exchanges will assist the Exchange in listing options across 6 The
Exchange will separately request an exemption from the rule filing requirements of Section 19b of the Act for changes to NOM
Options 4 Rules to the extent such rules are affected solely by virtue of a change to ISE Options 4 Rules.
The Exchanges proposed rule change will not become effective unless and until the Commission grants this exemption request.

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its affiliated markets. Also, incorporating by reference the ISE
Options 4 Rules into the Exchanges rulebook will organize those listing rules in a more logical order, thereby eliminating unnecessary complexity in the listing process and otherwise streamlining the Exchanges existing listing rules and their associated procedures.
2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6b of the Act,7 in general, and furthers the objectives of Section 6b5 of the Act,8
in particular, in that it is designed to promote just and equitable principles of trade and to protect investors and the public interest. The Exchange believes that its proposal to delete its existing listing rules and incorporate by reference the ISE Options 4 Rules will promote a free and open market, and will benefit investors, the public, and the markets, because the new rules will be clearer, better organized, and simpler. Also, the proposal is just and equitable because it will render the Exchanges listing rules easier for Participants to read and understand.
B. Self-Regulatory Organizations 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 expect that its proposed changes to incorporate NOMs Options 4 Rules to ISEs Options 4 Rules will have any competitive impact on NOMs listing rules, to the contrary, the Exchange hopes that by clarifying, reorganizing, and streamlining its listing rules, the Exchanges listing process will be clear. The proposed changes will apply equally to all market participants.
C. Self-Regulatory Organizations 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 Because the foregoing proposed rule change does not: i Significantly affect the protection of investors or the public interest; ii impose any significant burden on competition; and iii become operative for 30 days from the date on 7 15
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which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19b3Aiii of the Act 9 and subparagraph f6 of Rule 19b4
thereunder.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 necessary or appropriate in the public interest, for the protection of investors, or 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 Commissions internet comment form http www.sec.gov/
rules/sro.shtml; or Send an email to rule-comments@
sec.gov. Please include File Number SR
NASDAQ2021070 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
All submissions should refer to File Number SRNASDAQ2021070. 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 Commissions internet website http 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 9 15

U.S.C. 78sb3Aiii.
CFR 240.19b4f6. In addition, Rule 19b 4f6 requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement.
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