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Federal Register / Vol. 86, No. 38 / Monday, March 1, 2021 / Notices well as helping to ensure that C2-only Permit Holders are subject to consistent regulation as Cboe Trading Permit Holders.27 The Exchange believes that, without such an exemption, such Permit Holders could be subject to two different standards.28
The Commission has issued exemptions similar to the Exchanges request.29 In granting similar exemptions, the Commission stated that it would consider future exemption requests, provided that:
A self-regulatory organization SRO wishing to incorporate rules of another SRO by reference has submitted a written request for an order exempting it from the requirement in Section 19b of the Exchange Act to file proposed rule changes relating to the rules incorporated by reference, has identified the applicable originating SROs, together with the rules it wants to incorporate by reference, and otherwise has complied with the procedural requirements set forth in the Commissions release governing procedures for requesting exemptive orders pursuant to Rule 012 under the Exchange Act; 30
The incorporating SRO has requested incorporation of categories of rules rather than individual rules within a category that are not trading rules e.g., the SRO has requested incorporation of rules such as margin, suitability, or arbitration; and The incorporating SRO has reasonable procedures in place to provide written notice to its members each time a change is proposed to the incorporated rules of another SRO.31
The Commission believes that the Exchange has satisfied each of these 27 See
Exemptive Request, supra note 3.
id.
29 See, e.g., Securities Exchange Act Release Nos.
86896 September 6, 2019, 84 FR 48186 September 12, 2019 order granting exemptive request from Nasdaq BX, Inc. relating to rules of The Nasdaq Stock Market LLC incorporated by reference Nasdaq BX Order; 86422 July 22, 2019, 84 FR
36151 July 26, 2019 order granting exemptive request from Nasdaq BX, Inc., Nasdaq GEMX, LLC, Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq Phlx LLC relating to rules of The Nasdaq Stock Market LLC incorporated by reference; 80338
March 29, 2017, 82 FR 16464 April 4, 2017
order granting exemptive request from MIAX
PEARL, LLC relating to rules of Miami International Securities Exchange, LLC incorporated by reference; and 72650 July 22, 2014, 79 FR 44075
July 29, 2014 order granting exemptive requests from NASDAQ OMX BX, Inc. and the NASDAQ
Stock Market LLC relating to rules of NASDAQ
OMX PHLX LLC incorporated by reference.
30 See 17 CFR 240.012 and Securities Exchange Act Release No. 39624 February 5, 1998, 63 FR
8101 February 18, 1998 Commission Procedures for Filing Applications for Orders for Exemptive Relief Pursuant to Section 36 of the Exchange Act;
Final Rule.
31 See Nasdaq BX Order, supra note 29.
28 See
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conditions. Further, the Commission also believes that granting the Exchange an exemption from the rule filing requirements under Section 19b of the Exchange Act will promote efficient use of the Commissions and the Exchanges resources by avoiding duplicative rule filings based on simultaneous changes to identical rule text sought by more than one SRO. The Commission therefore finds it appropriate in the public interest and consistent with the protection of investors to exempt the Exchange from the rule filing requirements under Section 19b of the Exchange Act with respect to the abovedescribed rules it incorporates by reference. This exemption is conditioned upon the Exchange promptly providing written notice to its applicants and members whenever Cboe changes a Cboe Incorporated Rule.
Accordingly, it is ordered, pursuant to Section 36 of the Exchange Act,32 that the Exchange is exempt from the rule filing requirements of Section 19b of the Exchange Act solely with respect to changes to the rules identified in the Exemptive Request, provided that the Exchange promptly provides written notice to its applicants and members whenever Cboe proposes to change a Cboe Incorporated Rule.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.33
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202104092 Filed 22621; 8:45 am BILLING CODE 801101P

SECURITIES AND EXCHANGE
COMMISSION
Release No. 3491180; File No. SR
NYSEAMER202111

Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change Amending the NYSE American Options Fee Schedule To Introduce Pricing for the Use of a New AON
Functionality in Single-Leg and Complex Customer Best Execution Auctions
12053

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 the NYSE American Options Fee Schedule Fee Schedule to introduce pricing for the use of a new AON functionality in Single-Leg and Complex Customer Best Execution CUBE auctions. The Exchange proposes to implement the fee change effective February 16, 2021.4
The proposed 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.
A. Self-Regulatory Organizations Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this filing is to modify the Fee Schedule to introduce pricing for the Exchanges newly approved optional all-or-none AON
functionality for larger-sized orders in Single-Leg and Complex CUBE auctions together, AON CUBE.5 The
February 22, 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 February 16, 2021, NYSE American LLC NYSE
32 15

U.S.C. 78mm.
CFR 200.303a76.
1 15 U.S.C. 78sb1.
2 15 U.S.C. 78a.
3 17 CFR 240.19b4.
33 17

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4 On January 27, 2021, the Exchange filed to implement the AON functionality for Complex CUBE auctions, which functionality was operative on an immediately effective basis retroactive to the date of filing given the waiver of the 30-day operative delay, as well as to make clarifications to the AON functionality for Single-Leg CUBE
auctions. See Securities Exchange Release No.
91068 February 5, 2021, 86 FR 9112 February 11, 2021 NYSEAMER202106.
5 See Securities Exchange Release Nos. 90584
December 7, 2020, 85 FR 80196 December 11,
Continued
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