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Federal Register / Vol. 86, No. 24 / Monday, February 8, 2021 / Notices trigger the identification requirements of the rule.
The respondents to the collection of information required by Rule 13h1 and Form 13H are large traders and registered broker-dealers. The Commission estimates that the total annual time burden associated with Rule 13h1 and Form 13H is approximately 185,200 hours per year.
This burden is comprised of 23,500
hours for initial filings by large traders on Form 13H, 58,500 hours for updates by large traders, 96,000 hours for brokerdealer reporting, and 7,200 hours for broker-dealer monitoring.
Compliance with Rule 13h1 is mandatory. The information collection under proposed Rule 13h1 is considered confidential subject to the limited exceptions provided by the Freedom of Information Act.4
Written comments are invited on: a Whether the proposed collection of information is necessary for the proper performance of the functions of the Commission, including whether the information shall have practical utility;
b the accuracy of the Commissions estimates of the burden of the proposed collection of information; c ways to enhance the quality, utility, and clarity of the information collected; and d ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication.
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.
Please direct your written comments to: David Bottom, Director/Chief Information Officer, Securities and Exchange Commission, c/o Cynthia Roscoe, 100 F Street NE, Washington, DC 20549, or send an email to: PRA_
Mailbox@sec.gov.

jbell on DSKJLSW7X2PROD with NOTICES

Dated: February 3, 2021.
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202102505 Filed 2521; 8:45 am
SECURITIES AND EXCHANGE
COMMISSION
Release No. 3491039; File No. SR
NYSEAMER202105

Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing of Proposed Rule Change To Amend Rule 970NY and Rule 970.1NY To Eliminate the Use of Dark Series on the Exchange February 2, 2021.

Pursuant to Section 19b1 1 of the Securities Exchange Act of 1934 the Act 2 and Rule 19b4 thereunder,3
notice is hereby given that, on January 26, 2021, NYSE American LLC NYSE
American or the Exchange filed with the Securities and Exchange Commission the Commission the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the selfregulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
I. Self-Regulatory Organizations Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 970NY Firm Quotes and Rule 970.1NY Quote Mitigation to eliminate the use of dark series on the Exchange.
The proposed rule change is available on the Exchanges website at www.nyse.com, at the principal office of the Exchange, and at the Commissions Public Reference Room.
II. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization 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 those statements may be examined at the places specified in Item IV below.
The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements.

BILLING CODE 801101P

1 15

U.S.C. 78sb1.
U.S.C. 78a.
3 17 CFR 240.19b4.
2 15

4 See
5 U.S.C. 552 and 15 U.S.C. 78mh7.

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A. Self-Regulatory Organizations Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this rule change is to eliminate the exclusion of inactive or dark series as described below from the requirements of Rule 970NY Firm Quotes. In addition, the Exchange proposes to delete Rule 970.1NY Quote Mitigation in its entirety.
Rule 970NY describes the obligations of the Exchange to collect, process and make available to quotation vendors the best bid and best offer for each option series that is a reported security.4
However, under Rule 970.1NY, the only quote messages that the Exchange sends to Options Price Reporting Authority OPRA are quotes for active series, which are defined as any series that: i Has traded on any options exchange in the previous 14 calendar days; ii is solely listed on the Exchange; iii has been trading ten days or less; or iv is a series in which the Exchange has an order.5 Any options series that falls outside of the above categories of active series are deemed inactive or dark series. As such, under Rule 970.1NY, the Exchange still accepts quotes from ATP Holders in these series; however, such quotes are not disseminated to OPRA. The Exchange proposes to modify Rule 970NY and to delete Rule 970.1NY to eliminate the use of dark series.
By way of background, Rules 970NY
and 970.1NY were adopted over a decade ago in conformance with the NYSE Arca Rule 6.86O in connection with the Penny Pilot Program, which has since been made permanent.6 In 2007, when NYSE Arca Rule 6.86O
was adopted, there were five options exchanges and an industry-wide concern about capacity issues related 4 See
Rule 970.10NY.
series may be considered active on an intraday basis if: i the series trades at any options exchange; ii the Exchange receives an order in the series; or iii the Exchange receives a request for quote from a Customer in that series. See Rule 970.1NY.
6 See Securities Exchange Act Release Nos. 59142
December 22, 2008, 73 FR 80494, 80501
December 31, 2008 notice citing fact that Rules 970NY and 970.1NY copy the NYSE Arca quote mitigation rule; 59472 February 29, 2009, 74 FR
9843 March 6, 2009 order approving adoption of Rules 970NY and 970.1NY See also Securities Exchange Act Release Nos. 88532 April 1, 2020, 85 FR 19545 April 7, 2020 File No. 4443 order approving Amendment No. 5 to the Plan for the Purpose of Developing and Implementing Procedures to Facilitate the Listing and Trading of Standardized Options; 55162 January 24, 2007, 72
FR 4738 February 1, 2007 SRAmex2006106
approval of Penny Pilot Program and original quote mitigation strategy.
5A

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