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Federal Register / Vol. 86, No. 87 / Friday, May 7, 2021 / Notices The rebranding of references to MIAX PEARL to now be to MIAX
Pearl consists of non-substantive changes due to a recent rebranding effort conducted by the Exchange, as well as its affiliates, MIAX Pearl and Miami International Securities Exchange, LLC MIAX. The Exchange proposes to implement the rebranding changes for marketing purposes. With the rebranding changes, the term MIAX
Pearl will be consistent with how the Exchange, MIAX Emerald, is named i.e., MIAX Emerald. The Exchange notes that no changes to the ownership or structure of the MIAX Pearl have taken place and that the term MIAX
Pearl will represent the same entity as the legal entitys name, MIAX PEARL.
In lieu of providing a copy of the marked changes, the Exchange represents that it will make the necessary non-substantive revisions to the Exchanges Rulebook and the Fee Schedule and post updated versions of each on the Exchanges website pursuant to Rule 19b4m2.8
Additionally, the Exchanges affiliate, MIAX, intends to file a similar proposal to rebrand its Rulebook and Fee Schedule to amend references to MIAX
PEARL to now be MIAX Pearl, which will reflect the same rebranding changes described herein.
The Exchange notes that this filing is based on a similar proposal recently filed by MIAX Pearl to amend MIAX
Pearls Rulebook and Fee Schedules to reflect these same rebranding efforts.9
2. Statutory Basis The Exchange believes that its proposed rule change 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 prevent fraudulent and manipulative acts and practices, promotes just and equitable principles of trade, fosters cooperation and coordination with persons engaged in facilitating transactions in securities, removes impediments to and perfects the mechanisms of a free and open market and a national market system and, in general, protects investors and the public interest because the proposal will eliminate potential confusion on the part of market participants using the products and services of the Exchange in light of the corporate rebranding that CFR 240.19b4m2.
Securities Exchange Act Release No. 91537
March 30, 2021, 86 FR 20216 April 16, 2021
Notice of Filing and Immediate Effectiveness of File No. SRPEARL202108.
10 15 U.S.C. 78fb.
11 15 U.S.C. 78fb5.

the Exchange and its affiliates, MIAX
Pearl and MIAX, have undergone.
The Exchange also believes that the proposed rule change is consistent with Section 6b1 of the Act 12 in that it aims to continue to ensure that the Exchange has the capacity to carry out the purposes of the Act and to enforce compliance by its Members 13 with the provisions of the Act as well as the rules and regulations thereunder. The Exchange proposes to amend the Rulebook and the Fee Schedule to rebrand references to MIAX PEARL to now be MIAX Pearl. The proposed rebrand consists of non-substantive changes to the Rulebook and the Fee Schedule of the Exchange so that its affiliates name, MIAX Pearl, is consistent with its name, MIAX
Emerald, as part of a broader marketing effort by the Exchange and its affiliates, MIAX Pearl and MIAX. Therefore, the Exchange believes that the rebrand will protect investors and the public interest by eliminating confusion that may exist because of differences in the other naming conventions of MIAX Pearl. No changes to the ownership or structure of MIAX Pearl have taken place. The Exchange notes that the term MIAX
Pearl will represent the same entity as MIAX PEARL. The Exchange notes that its affiliate, MIAX, will file a similar proposal to amend its Rulebook and Fee Schedule to rebrand references to MIAX PEARL to now be to MIAX
Pearl, to provide uniformity among the Exchange, MIAX Pearl and MIAX, to avoid potential confusion by market participants.
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 that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe the proposal will impose any burden on intra-market competition because the proposed rule change is not a competitive filing but rather is designed to effectuate the Exchanges rebranding of references to MIAX PEARL to now be MIAX
Pearl, as part of a corporate rebranding and marketing strategy. The proposed changes to the Exchanges Rulebook and Fee Schedule will help provide clarity and uniformity to avoid potential confusion on the part of market participants because the rebrand of
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term Member means an individual or organization approved to exercise the trading rights associated with a Trading Permit. Members are deemed members under the Exchange Act. See Exchange Rule 100.
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MIAX Pearl is part of a broader rebranding and marketing effort by the Exchange and its affiliates, MIAX Pearl and MIAX. In addition, the Exchange does not believe the proposal will impose any burden on inter-market competition as the proposal does not address any competitive issues and is intended to protect investors by providing further transparency regarding the Exchanges Rulebook and Fee Schedule.
C. Self-Regulatory Organizations Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19b3A
of the Act 14 and Rule 19b4f3 15
thereunder, in that the proposed rule change is concerned solely with the administration of the self-regulatory organization.
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
EMERALD202117 on the subject line.
Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 205491090.
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