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Federal Register / Vol. 86, No. 121 / Monday, June 28, 2021 / Notices
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 SRFINRA2021016. 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 those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commissions Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of FINRA. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SRFINRA
2021016 and should be submitted on or before July 19, 2021.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.72
J. Matthew DeLesDernier, Assistant Secretary.
FR Doc. 202113653 Filed 62521; 8:45 am
khammond on DSKJM1Z7X2PROD with NOTICES

BILLING CODE 801101P

Release No. 3492226; File No. SRISE
202114

A. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 2, Section 4 Obligations of Market Makers, Options 4, Section 3 Criteria for Underlying Securities, Options 4, Section 8 Long-Term Options Contracts, and Options 4A, Section 12
Terms of Index Options Contracts
1. Purpose The Exchange proposes to amend Options 2, Section 4, Obligations of Market Makers; Options 4, Section 3, Criteria for Underlying Securities;
Options 4, Section 8, Long-Term Options Contracts; and Options 4A, Section 12, Terms of Index Options Contracts. Each change will be described below.

SECURITIES AND EXCHANGE
COMMISSION

June 22, 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 June 9, 2021, Nasdaq ISE, LLC ISE or Exchange filed with the Securities and Exchange Commission Commission the proposed rule change as described in Items I and II, 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 proposes to amend Options 2, Section 4, Obligations of Market Makers; Options 4, Section 3, Criteria for Underlying Securities;
Options 4, Section 8, Long-Term Options Contracts; and Options 4A, Section 12, Terms of Index Options Contracts.
The text of the proposed rule change is available on the Exchanges website at https listingcenter.nasdaq.com/
rulebook/ise/rules, 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 Exchange 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 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.
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Options 2, Section 4a The Exchange proposes to remove the following rule text from Options 2, Section 4a, which has been in place since ISEs inception: 3
. . . Ordinarily, Market Makers are expected to:
1 Refrain from purchasing a call option or a put option at a price more than $0.25 below parity, although a larger amount may be appropriate considering the particular market conditions. In the case of calls, parity is measured by the bid in the underlying security, and in the case of puts, parity is measured by the offer in the underlying security.
2 The $0.25 amount above may be increased, or the provisions of this Rule may be waived, by the Exchange on a series-byseries basis.

This proposed rule text also previously existed on Cboe Exchange, Inc. within prior Rule 8.7 4 and was removed from Cboes Rulebook in 2019.5 The 3 See Securities Exchange Act Release No. 42455
February 24, 2000, 65 FR 11388 March 2, 2000
In the Matter of the Application of The International Securities Exchange LLC for Registration as a National Securities Exchange;
Findings and Opinion of the Commission.
4 Prior Interpretation and Policy .02 to Rule 8.7
provided, Market-Makers are expected ordinarily to refrain from purchasing a call option or a put option at a price more than $0.25 below parity, although a larger amount may be appropriate considering the particular market conditions. In the case of calls, parity is measured by the bid in the underlying security, and in the case of puts, parity is measured by the offer in the underlying security.
The $0.25 amount above may be increased, or the provisions of this Interpretation may be waived, by the Exchange on a series-by-series basis.
5 Cboes rule change merely noted, with respect to the removal of Cboes parity rule, that the filing makes non-substantive changes to the rule governing a Market-Makers general obligations current Rule 8.7, in part, most of which remove redundant provisions that are already covered under the umbrella of a Market-Makers obligation to engage in dealing to maintain fair and orderly markets. No specific argument is provided with respect to removing this provision. See Securities Exchange Act 87024 September 19, 2019, 84 FR
50545 September 25, 2019 SRCBOE2019059
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Certain Rules Relating To Market-Makers Upon Migration to the Trading System Used by Cboe Affiliated Exchanges.

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