Notice2021-15339
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Various Phlx Rules
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 20, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 136 (Tuesday, July 20, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 136 (Tuesday, July 20, 2021)]
[Notices]
[Pages 38377-38381]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-15339]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-92404; File No. SR-Phlx-2021-41]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Various
Phlx Rules
July 14, 2021.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on July 13, 2021, Nasdaq PHLX LLC (``Phlx'' or ``Exchange'') filed with
the Securities
[[Page 38378]]
and Exchange Commission (``SEC'' or ``Commission'') the 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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Phlx Rules at Options 8, Section 2
(Definitions); Section 8 (Trading Floor Registration); Section 12
(Clerks); Section 22 (Execution of Options Transactions on the Trading
Floor); Section 28 (Responsibilities of Floor Brokers); and Section 39
(Option Minor Rule Violations and Order and Decorum Regulations) at C-2
(Options Floor Based Management System).
The text of the proposed rule change is available on the Exchange's
website at <a href="https://listingcenter.nasdaq.com/rulebook/phlx/rules">https://listingcenter.nasdaq.com/rulebook/phlx/rules</a>, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.
II. Self-Regulatory Organization's 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 Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Phlx Rules at Options 8, Section 2
(Definitions); Section 8 (Trading Floor Registration); Section 12
(Clerks); Section 22 (Execution of Options Transactions on the Trading
Floor); Section 28 (Responsibilities of Floor Brokers); and Section 39
(Option Minor Rule Violations and Order and Decorum Regulations) at C-2
(Options Floor Based Management System). Each change is described
below.
The Exchange also proposes a technical amendment to Options 10,
Section 20 (Options Communications).
Options 8, Section 2
The Exchange proposes to amend Options 8, Section 2, Definitions,
to alphabetize the existing definitions. The Exchange proposes to
relocate and renumber the current definitions without change, with one
exception which is described below. The Exchange proposes to amend the
definition of a Presiding Exchange Official at current Options 8,
Section 2(a)(4) to add ``/her'' next to ``his'' in two places. The
amendment to this rule will bring greater clarity to the defined term.
The Exchange proposes to add two new definitions, ``Floor
Transaction'' and ``Remote FBMS Transaction'' to Options 8, Section 2.
The Exchange proposes to define ``Floor Transaction'' as a transaction
that is effected in open outcry on the Exchange's Trading Floor. This
term is currently defined within Phlx Options 7, Section 1 for the
purposes of pricing. The Exchange also proposes to define ``Remote FBMS
Transaction.'' The Exchange recently amended Options 8, Section 28,
``Responsibilities of Floor Brokers'' at subsection (g) and Section 30,
``Crossing, Facilitation and Solicited Orders'' at subsection (e) to
permit Floor Brokers to utilize the Options Floor Based Management
System (``FBMS''),\3\ remotely,\4\ to enter certain orders that do not
require exposure in open outcry.\5\ At this time the Exchange proposes
to define a ``Remote FBMS Transaction'' as a transaction that is
effected by a Floor Broker, while not physically present on the Trading
Floor, by submitting limit, market or stop orders pursuant to Options
8, Section 28(g) and Floor Qualified Contingent Cross Orders pursuant
to Options 8, Section 30(e) to the electronic order book, through FBMS,
pursuant to Options 8, Sections 28 and 30, respectively, in accordance
with the Prior Rule Change. Further, the Exchange proposes to specify
that members and member organizations must comply with certain
regulatory requirements, unless the member or member organization is
otherwise exempt from the requirements in accordance with Supplementary
Material .08 to Options 10, Section 6 \6\ or Phlx General 4, Rule
1230.\7\ The Exchange proposes to state that in order to conduct remote
FBMS transactions, unless exempt from such requirements, Floor Brokers
are subject to the following regulatory requirements: (1) Compliance
with branch office requirements as described in Supplementary Material
.08 to Options 10, Section 6, as well as supervision of such branch
office as described in Phlx General 9, Section 20; and (2) compliance
with applicable registration requirements described in Phlx General
4.\8\ Finally, the Exchange proposes to make clear that all uses of
FBMS involving open outcry must be conducted while physically present
on the Trading Floor. The proposed definition would describe and cite
to the types of orders that may be submitted remotely by a Floor Broker
for ease of location in the Options 8 Rules. Further, the proposed rule
indicates the various existing Phlx Rules that are relevant today for
regulatory compliance when transacting Remote FBMS Transactions. The
last sentence of the proposed rule indicates that open outcry
transactions may only be effected while physically present on the
Exchange's Trading Floor and therefore uses of FBMS involving open
outcry must be conducted while physically present on the Trading Floor.
Today, Floor Brokers must comply with these regulatory requirements.
This proposed rule would serve as a guide for Floor Brokers conducting
Remote FBMS Transactions.
---------------------------------------------------------------------------
\3\ FBMS, an order management system, is the gateway for the
electronic execution of equity, equity index and U.S. dollar-settled
foreign currency option orders represented by Floor Brokers on the
Exchange's Options Floor. Floor Brokers contemporaneously upon
receipt of an order and prior to the representation of such an order
in the trading crowd, record all options orders represented by such
Floor Broker to FBMS, which creates an electronic audit trail. The
execution of orders to Phlx's electronic trading system also occurs
via FBMS. The FBMS application is available on hand-held tablets and
stationary desktops.
\4\ Utilizing FBMS while not physically present on the Trading
Floor would be considered remote access.
\5\ See Securities Exchange Act Release No. 90909 (January 13,
2021), 86 FR 6389 (January 21, 2021) (SR-Phlx-2021-02) (Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To
Modify Phlx Options 8, Section 28, ``Responsibilities of Floor
Brokers'' and Section 30, ``Crossing, Facilitation and Solicited
Orders'') (``Prior Rule Change'').
\6\ Supplementary Material .08(i)-(vii) to Options 10, Section 6
describe branch office exclusions.
\7\ Phlx General 4 Rules are incorporated by reference to the
General 4 Rules of The Nasdaq Stock Market LLC. General 4, Rule 1230
describes associated persons exempt from registration.
\8\ General 4 Rules describe registration, qualification and
continuing education requirements. Phlx floor members are required
to comply with Phlx General 4 Rules. If a member is no longer
present on a trading floor, the member would not be subject to the
exemption associated with effecting transactions on the floor of
another national securities exchange. A Floor Broker conducting a
Remote FBMS Transaction would therefore need to comply with General
4 registration requirements, including but not limited to, the
Series 57 registration.
---------------------------------------------------------------------------
[[Page 38379]]
Options 8, Sections 8 and 12
The Exchange proposes to update cross citations to General 4 Rules
within Options 8, Section 8, Trading Floor Registration and Options 8,
Section 12, Clerks to reflect The Nasdaq Stock Market LLC's
(``Nasdaq'') General 4 rule numbering that was amended.\9\ These
amendments are non-substantive.
---------------------------------------------------------------------------
\9\ See Securities Exchange Act Release No. 90577 (December 7,
2020), 85 FR 80202 (December 11, 2020) (SR-NASDAQ-2020-079) (Notice
of Filing and Immediate Effectiveness of Proposed Rule Change To
Relocate Its Equity and General Rules From Its Current Rulebook Into
Its New Rulebook Shell).
---------------------------------------------------------------------------
The Exchange proposes to amend Options 8, Section 12, Clerks, at
subparagraph (c) to remove the phrase ``or assigned to their employer's
clearing firm.'' Previously, Clearing Members operated posts on the
Trading Floor. Member organizations were able to assign clerks to
operate from those posts. Clearing Member posts no longer exist on the
Trading Floor and therefore this language is obsolete.
Options 8, Section 22
The Exchange proposes to update a citation to Options 8, Section
22(a)(3). The citation is incorrect and should instead refer to Options
8, Section 22(a)(2). There is no Options 8, Section 22(a)(3). Similar
changes are also proposed for Options 8, Section 28(e)(2) and Options
8, Section 39 at C-2 to correct improper citations.
Options 8, Section 28
The Exchange proposes to amend Options 8, Section 28,
Responsibilities of Floor Brokers, at subsection (g) to replace the
word ``limit'' with ``electronic'' before the term ``order book.'' The
term ``electronic order book'' makes clear the order book is being
described. Also, the Exchange notes that, today, Floor Brokers may
enter limit,\10\ market,\11\ stop-limit or stop orders \12\ into the
electronic order book. Options 8, Section 28(g) only refers to limit
orders when it should have also noted market, stop-limit and stop
orders. With respect to remotely entering limit orders into the
electronic order book through FBMS, the Prior Rule Change stated that
this capability exists to enable Floor Brokers to access electronic
liquidity and/or to clear priority orders on the limit order book prior
to transacting an order in the trading crowd through FBMS.\13\ Placing
limit orders on the electronic order book does not require exposure in
open outcry and allows Floor Brokers the ability to clear resting
Customer orders from the limit order book for their customers in the
event that a Customer order had priority on the limit order book that
would otherwise prevent a Floor Qualified Contingent Cross Order from
being entered in compliance with Options 8, Section 30(e).\14\ The
Exchange notes that Floor Brokers may also utilize market, stop-limit
and stop orders to clear resting Customers' orders from the electronic
order book. Also, placing market, stop-limit and stop orders on the
electronic order book does not require exposure in open outcry today.
---------------------------------------------------------------------------
\10\ A Limit Order is an order to buy or sell a stated number of
option contracts at a specified price, or better. See Options 8,
Section 32(a)(2).
\11\ A Market Order is an order to buy or sell a stated number
of option contracts and is to be executed at the best price
obtainable when the order reaches the post. See Options 8, Section
32(a)(1).
\12\ A Stop-Limit Order is a contingency order to buy or sell at
a limited price when a trade or quote on the Exchange for a
particular option contract reaches a specified price. A Stop-Limit
Order to buy becomes a Limit Order executable at the limit price or
better when the option contract trades or is bid on the Exchange at
or above the stop-limit price. A Stop-Limit Order to sell becomes a
Limit Order executable at the limit price or better when the option
contract trades or is offered on the Exchange at or below the stop-
limit price.
A Stop Order is a contingency order to buy or sell when a trade
or quote on the Exchange for a particular option contract reaches a
specified price. A Stop Order to buy becomes a Market Order when the
option contract trades or is bid on the Exchange at or above the
stop price. A Stop Order to sell becomes a Market Order when the
option contract trades or is offered on the Exchange at or below the
stop price.
Notwithstanding the foregoing, a Stop or Stop-Limit Order shall
not be elected by a trade that is reported late or out of sequence.
See Options 8, Section 32(b)(1) and (2).
\13\ See Securities Exchange Act Release No. 68960 (February 20,
2013), 78 FR 13132, 13134 (February 26, 2013) (SR-Phlx-2013-09)
(Notice of Filing of Proposed Rule Change To Enhance the
Functionality Offered on Its Options Floor Broker Management System
(``FBMS'') by, Among Other Things, Automating Functions Currently
Performed by Floor Brokers). This filing provided the following
explanation, ``For example, if a Floor Broker enters a two-sided
order through the new FBMS and there is an order on the book at a
price that prevents the Floor Broker's order from executing, FBMS
will indicate to the Floor Broker how many contracts need to be
satisfied before the Floor Broker's order can execute at the agreed-
upon price. If the Floor Broker agrees to satisfy that order,
consistent with the order placed in his care, he can cause FBMS to
send a portion of one of his orders to Phlx XL to trade against the
order on the book, thereby clearing it and permitting the remainder
of the Floor Broker's order to trade. This functionality is optional
in the sense that the Floor Broker can decide not to trade against
the book, consistent with order instructions he has been given, and
therefore not execute his two-sided order at that particular
price.'' Phlx XL refers to the electronic order book.
\14\ See supra note 5.
---------------------------------------------------------------------------
Options 10, Section 20
The Exchange proposes to update a reference to Phx Rule 1049 within
Options 10, Section 20, Options Communications. Phlx Rule 1049 was the
prior reference to Options 10, Section 20.\15\ At this time the
Exchange proposes to replace ``Nasdaq PHLX Rule 1049'' with ``Options
10, Section 20.'' In addition the Exchange proposes to replace ``Nasdaq
PHLX'' throughout this rule with ``Phlx'' to conform the reference to
the Exchange to the remainder of the Rulebook.
---------------------------------------------------------------------------
\15\ See Securities Exchange Act Release No. 88213 (February 14,
2020), 85 FR 9859 (February 20, 2020) (SR-Phlx-2020-03) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To
Relocate Rules From Its Current Rulebook Into Its New Rulebook
Shell).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\16\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\17\ in particular, in that it is designed to
promote just and equitable principles of trade and to protect investors
and the public interest.
---------------------------------------------------------------------------
\16\ 15 U.S.C. 78f(b).
\17\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
Options 8, Section 2
The Exchange's proposal to alphabetize the existing definitions
within Options 8, Section 2 is consistent with the Act as the
definitions will become easier to locate. Amending the definition of a
Presiding Exchange Official at current Options 8, Section 2(a)(4) to
add ``/her'' next to ``his'' in two places is a non-substantive rule
change. These amendments are intended to bring greater clarity to the
Options 8 Rules.
The proposal to define ``Floor Transaction'' as a transaction that
is effected in open outcry on the Exchange's Trading Floor is
consistent with the Act. This term is currently defined within Phlx
Options 7, Section 1 for the purposes of pricing. The defined term is
consistent with the use of that term in the current rules. This defined
term will bring greater clarity to the Options 8 Rules.
The Exchange's proposal to define ``Remote FBMS Transaction'' is
consistent with the Act. The Exchange recently amended Options 8,
Section 28, ``Responsibilities of Floor Brokers'' at subsection (g) and
Section 30, ``Crossing, Facilitation and Solicited Orders'' at
subsection (e) to permit Floor Brokers to utilize the FBMS
remotely,\18\ to enter certain orders that do not require exposure in
open outcry.\19\ The proposed term ``Remote FBMS Transaction'' would
serve to provide members and member organizations a description of the
manner in which a Floor Broker may remotely transact
[[Page 38380]]
certain orders while not physically present on the Trading Floor. This
defined term provides the citations to the applicable rules and further
makes clear the current regulatory requirements that apply to such
remote activity. Today, Floor Brokers must comply with these regulatory
requirements provided they are not exempt from those requirements
pursuant to Supplementary Material .08 to Options 10, Section 6 or Phlx
General 4, Rule 1230. Also, the defined term makes clear that all uses
of FBMS involving open outcry must be conducted while physically
present on the Trading Floor. This proposed rule would serve as a guide
for Floor Brokers conducting Remote FBMS Transactions.
---------------------------------------------------------------------------
\18\ See supra note 4.
\19\ See supra note 5.
---------------------------------------------------------------------------
Options 8, Sections 8 and 12
The Exchange's proposal to update cross citations to Nasdaq General
4 Rules within Options 8, Section 8, Trading Floor Registration and
Options 8, Section 12, Clerks is consistent with the Act. These
amendments are non-substantive and will clarify the rules.
The Exchange's proposal to amend Options 8, Section 12, Clerks at
subparagraph (c) to remove the phrase ``or assigned to their employer's
clearing firm'' is consistent with the Act. Previously, Clearing
Members operated posts on the Trading Floor. Member organizations were
able to assign clerks to operate from those posts. Clearing Member
posts no longer exist on the Trading Floor and therefore this language
is obsolete.
Options 8, Section 22
The Exchange's proposal to update citations to Options 8, Section
22(a)(3) within Options 8, Section 22(a)(2)(E)(i), Options 8, Section
28(e)(2), and Options 8, Section 39 at C-2 is consistent with the Act
as the rule text corrects improper citations. Citations to Options 8,
Section 22(a)(3) should instead refer to Options 8, Section 22(a)(3).
Options 8, Section 22(a)(3) does not exist.
Options 8, Section 28
The Exchange's proposal to amend Options 8, Section 28,
Responsibilities of Floor Brokers, to replace the word ``limit'' with
``electronic'' before the term ``order book'' is consistent with the
Act. The term ``electronic order book'' makes clear that specific order
book being described.
The Exchange's proposal to amend Options 8, Section 28 to provide
that Floor Brokers may enter limit, market, stop-limit or stop orders
into the electronic order book is consistent with the Act. Currently,
Options 8, Section 28 only refers to limit orders when it should have
also noted market, stop-limit and stop orders. With respect to remotely
entering limit orders into the electronic order book through FBMS, the
Prior Rule Change stated that this capability exists to enable Floor
Brokers to access electronic liquidity and/or to clear priority orders
on the limit order book prior to transacting an order in the trading
crowd through FBMS.\20\ Placing limit orders on the electronic order
book does not require exposure in open outcry and allows Floor Brokers
the ability to clear resting Customers orders from the limit order book
for their customers in the event that a Customer order had priority on
the limit order book that would otherwise prevent a Floor Qualified
Contingent Cross Order from being entered in compliance with Options 8,
Section 30(e).\21\ Today, Floor Brokers may also utilize market, stop-
limit and stop orders to clear resting Customers orders from the
electronic order book. Also, placing market, stop-limit and stop orders
on the electronic order book does not require exposure in open outcry.
---------------------------------------------------------------------------
\20\ See supra note 10.
\21\ See supra note 5.
---------------------------------------------------------------------------
Options 10, Section 20
The Exchange proposes to update a reference to Phx Rule 1049 within
Options 10, Section 20, Options Communications, and replace ``Nasdaq
PHLX'' throughout this rule with ``Phlx'' are non-substantive
amendments that will clarify the Rulebook.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
Options 8, Section 2
The Exchange's proposal to alphabetize the existing definitions
within Options 8, Section 2 does not impose an undue burden on
competition as the definitions will become easier to locate. Amending
the definition of a Presiding Exchange Official at current Options 8,
Section 2(a)(4) to add ``/her'' next to ``his'' in two places is a non-
substantive rule change. These amendments are intended to bring greater
clarity to the Options 8 Rules.
The proposal to define ``Floor Transaction'' as a transaction that
is effected in open outcry on the Exchange's Trading Floor does not
impose an undue burden on competition. This term is currently defined
within Phlx Options 7, Section 1 for the purposes of pricing. The
defined term is consistent with the use of that term in the current
rules. This defined term will bring greater clarity to the Options 8
Rules. The Exchange's proposal to define ``Remote FBMS Transaction''
does not impose an undue burden on competition. The proposed term
``Remote FBMS Transaction'' would serve to provide members and member
organizations a description of the manner in which a Floor Broker may
remotely transact certain orders while not physically present on the
Trading Floor. This defined term provides the citations to the
applicable rules and further makes clear the current regulatory
requirements that apply to such remote activity. Today, Floor Brokers
must comply with these regulatory requirements. Also, the defined term
makes clear that all uses of FBMS involving open outcry must be
conducted while physically present on the Trading Floor.
Options 8, Sections 8 and 12
The Exchange's proposal to update cross citations to Nasdaq General
4 Rules within Options 8, Section 8, Trading Floor Registration and
Options 8, Section 12, Clerks does not impose an undue burden on
competition. These amendments are non-substantive and would clarify the
current rules.
The Exchange's proposal to amend Options 8, Section 12, Clerks at
subparagraph (c) to remove the phrase ``or assigned to their employer's
clearing firm'' does not impose an undue burden on competition.
Previously, Clearing Members operated posts on the Trading Floor.
Member organizations were able to assign clerks to operate from those
posts. Clearing Member posts no longer exist on the Trading Floor and
therefore this language is obsolete.
Options 8, Section 22
The Exchange's proposal to update citations to Options 8, Section
22(a)(3) within Options 8, Section 22(a)(2)(E)(i), Options 8, Section
28(e)(2), and Options 8, Section 39 at C-2 does not impose an undue
burden on competition as the rule text corrects improper citations.
Citations to Options 8, Section 22(a)(3) should instead refer to
Options 8, Section 22(a)(3). Options 8, Section 22(a)(3) does not
exist.
Options 8, Section 28
The Exchange's proposal to amend Options 8, Section 28,
Responsibilities of Floor Brokers, at subsection (g) to replace the
word ``limit'' with ``electronic'' before the term ``order book'' does
not impose an undue
[[Page 38381]]
burden on competition. The term ``electronic order book'' makes clear
that specific order book being described.
The Exchange's proposal to amend Options 8, Section 28(g) to
provide that Floor Brokers may enter limit, market, stop-limit or stop
orders into the electronic order book does not impose an undue burden
on competition. Currently, Options 8, Section 28(g) only refers to
limit orders when it should have also noted market, stop-limit and stop
orders. The Exchange notes that Floor Brokers may also utilize market,
stop-limit and stop orders to clear resting Customers orders from the
electronic order book. Today, placing market, stop-limit and stop
orders on the electronic order book does not require exposure in open
outcry.
Options 10, Section 20
The Exchange proposes to update a reference to Phx Rule 1049 within
Options 10, Section 20, Options Communications, and replace ``Nasdaq
PHLX'' throughout this rule with ``Phlx'' are non-substantive
amendments that will clarify the Rulebook.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \22\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\23\
---------------------------------------------------------------------------
\22\ 15 U.S.C. 78s(b)(3)(A)(iii).
\23\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------
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
<bullet> Use the Commission's internet comment form (<a href="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#acded9c0c981cfc3c1c1c9c2d8dfecdfc9cf82cbc3da"><span class="__cf_email__" data-cfemail="cebcbba2abe3ada1a3a3aba0babd8ebdabade0a9a1b8">[email protected]</span></a>. Please include
File Number SR-Phlx-2021-41 on the subject line.
Paper Comments
<bullet> Send paper comments in triplicate to: Secretary,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-1090.
All submissions should refer to File Number SR-Phlx-2021-41. 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 Commission's internet website (<a href="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>).
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 Commission's 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 SR-Phlx-2021-41 and should be submitted on
or before August 10, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\24\
---------------------------------------------------------------------------
\24\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-15339 Filed 7-19-21; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 20, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.