Federal Register - June 2, 2021
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Source: Federal Register
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Federal Register / Vol. 86, No. 104 / Wednesday, June 2, 2021 / Notices whether to disapprove, the proposed rule change File No. SRIEX202106.
SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492029; File No. SRIEX
202106
Self-Regulatory Organizations;
Investors Exchange LLC; Notice of Designation of a Longer Period for Commission Action on a Proposed Rule Change To Enhance the IEX
Retail Price Improvement Program for the Benefit of Retail Investors May 26, 2021.
On April 1, 2021, the Investors Exchange LLC IEX 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 enhance its Retail Price Improvement Program for the benefit of retail investors. The proposed rule change was published for comment in the Federal Register on April 15, 2021.3
The Commission received a comment letter on the proposed rule change.4
Section 19b2 of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days i as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or ii as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is May 30, 2021.
The Commission is extending this 45day time period.
The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received thereon. Accordingly, pursuant to Section 19b2 of the Act,6 the Commission designates July 14, 2021, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine
jbell on DSKJLSW7X2PROD with NOTICES
1 15
U.S.C. 78sb1.
CFR 240.19b4.
3 See Securities Exchange Act Release No. 91523
April 9, 2021, 86 FR 19912 April 15, 2021.
4 Comments received on the proposed rule change are available at: https www.sec.gov/comments/sriex-2021-06/sriex202106.htm.
5 15 U.S.C. 78sb2.
6 Id.
2 17
VerDate Sep<11>2014
17:49 Jun 01, 2021
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For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202111531 Filed 6121; 8:45 am BILLING CODE 801101P
SECURITIES AND EXCHANGE
COMMISSION
Release No. 3492028; File No. SR
EMERALD202119
Self-Regulatory Organizations; MIAX
Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule To Adopt Fees for a New Data Product Known as the Liquidity Taker Event Report May 26, 2021.
Pursuant to Section 19b1 of the Securities Exchange Act of 1934
Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on May 14, 2021, MIAX Emerald, LLC MIAX
Emerald or Exchange, filed with the Securities and Exchange Commission Commission a proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. 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 is filing a proposal to amend the Exchanges Fee Schedule Fee Schedule to adopt fees for a new data product known as the Liquidity Taker Event Report.3
The text of the proposed rule change is available on the Exchanges website at http www.miaxoptions.com/rulefilings/emerald, at MIAXs principal office, 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 Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the 7 17
CFR 200.303a31.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
3 See, generally, Exchange Rule 531a.
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proposed rule change. The text of these 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 aspects of such statements.
A. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange recently adopted a new data product known as the Liquidity Taker Event Report the Report, which will be available for purchase to Exchange Members on a voluntary basis.4 The Exchange now proposes to adopt fees for the Report. The Report was recently approved by the Securities and Exchange Commission Commission and is described under Exchange Rule 531a.5 The Report is an optional product available to Members.
By way of background, the Report is a daily report that provides a Member Recipient Member with its liquidity response time details for executions of an order resting on the Book,6 where that Recipient Member attempted to execute against such resting order 7
within a certain timeframe. It is important to note that the content of the Report is specific to the Recipient Member and the Report will not include any information related to any Member other than the Recipient Member.
The following information is included in the Report regarding the resting order: A The time the resting order was received by the Exchange; B
symbol; C order reference number, which is a unique reference number assigned to a new order at the time of receipt; D whether the Recipient Member is an Affiliate 8 of the Member 4 The 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 the Definitions Section of the Fee Schedule and Exchange Rule 100.
5 See Securities Exchange Act Release No. 91787
May 6, 2021, 86 FR 26111 May 12, 2021 SR
EMERALD202109 Order Granting Approval of a Proposed Rule Change to Adopt Exchange Rule 531a, Reports, to Provide for a New Liquidity Taker Event Report.
6 The term Book means the electronic book of buy and sell orders and quotes maintained by the System. See Exchange Rule 100. The term System means the automated trading system used by the Exchange for the trading of securities. See id.
7 Only displayed orders will be included in the Report. The Exchange notes that it does not currently offer any non-displayed orders types on its options trading platform.
8 The term affiliate of or person affiliated with another person means a person who, directly, or indirectly, controls, is controlled by, or is under
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