Federal Register - November 3, 2021
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Source: Federal Register
khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 86, No. 210 / Wednesday, November 3, 2021 / Notices public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that it may immediately extend the Program prior to the current expiration date so that the pilot may continue uninterrupted. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest as it will allow the Program to continue uninterrupted, thereby avoiding investor confusion that could result from a temporary interruption in the Program.
Accordingly, the Commission hereby waives the operative delay and designates the proposed rule change operative upon filing.11
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 change should be approved or disapproved.
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 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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 SRISE202122, and should be submitted on or before November 24, 2021.
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:
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12
J. Matthew DeLesDernier, Assistant Secretary.
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
ISE202122 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
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 SRISE202122. 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/
11 For purposes only of waiving the 30-day operative delay, the Commission also has considered the proposed rules impact on efficiency, competition, and capital formation. See 15 U.S.C. 78cf.
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Release No. 3493447; File No. SRPhlx 202166
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot To Permit the Listing and Trading of Options on the Nasdaq 100 Micro Index October 28, 2021.
Pursuant to Section 19b1 of the Securities Exchange Act of 1934 the Act,1 and Rule 19b4 thereunder,2
notice is hereby given that on October 20, 2021, Nasdaq PHLX LLC Phlx 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 12 17
CFR 200.303a12.
U.S.C. 78sb1.
2 17 CFR 240.19b4.
1 15
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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 extend the pilot to permit the listing and trading of options based on 1/100 the value of the Nasdaq-100 Index Nasdaq-100
currently set to expire on November 4, 2021.
The text of the proposed rule change is available on the Exchanges website at https listingcenter.nasdaq.com/
rulebook/phlx/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.
A. Self-Regulatory Organizations Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Phlx filed a rule change to permit the listing and trading of index options on the Nasdaq 100 Micro Index Options XND on a pilot basis 3 Program.
XND options trade independently of and in addition to NDX options, and the XND options are subject to the same rules that presently govern the trading of index options based on the Nasdaq100 Index, including sales practice rules, margin requirements, trading rules, and position and exercise limits.
Similar to NDX, XND options are European-style and cash-settled, and have a contract multiplier of 100. The contract specifications for XND options mirror in all respects those of the NDX
options contract already listed on the Exchange, except that XND options are based on 1/100th of the value of the Nasdaq-100 Index, and are P.M.-settled 3 See Securities Exchange Act Release No. 91524
April 9, 2021, 86 FR 19909 April 15, 2021 SR
Phlx202107 Approval Order.
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