Notice2023-23036
MIAX Sapphire, LLC; Notice of Filing of Application for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934
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
October 19, 2023
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 88 Issue 201 (Thursday, October 19, 2023)</title>
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[Federal Register Volume 88, Number 201 (Thursday, October 19, 2023)]
[Notices]
[Pages 72116-72117]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-23036]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-98746; File No. 10-240]
MIAX Sapphire, LLC; Notice of Filing of Application for
Registration as a National Securities Exchange Under Section 6 of the
Securities Exchange Act of 1934
October 13, 2023.
On September 26, 2023, MIAX Sapphire, LLC (``MIAX Sapphire'' or
``Applicant'') submitted to the Securities and Exchange Commission
(``Commission'') a Form 1 application under the Securities Exchange Act
of 1934 (``Exchange Act''), seeking registration as a national
securities exchange under section 6 of the Exchange Act.
The Commission is publishing this notice to solicit comments on
MIAX Sapphire's Form 1 application. The Commission will take any
comments it receives into consideration in making its determination
about whether to grant MIAX Sapphire's request to be registered as a
national securities exchange. The Commission will grant the
registration if it finds that the requirements of the Exchange Act and
the rules and regulations thereunder with respect to MIAX Sapphire are
satisfied.\1\
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\1\ 15 U.S.C. 78s(a).
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The Applicant's Form 1 application provides detailed information on
how MIAX Sapphire proposes to satisfy the requirements of the Exchange
Act. The Form 1 application also provides that MIAX Sapphire would
operate a fully automated electronic trading platform for the trading
of listed options. It also provides that liquidity would be derived
from quotes as well as orders to buy and orders to sell submitted to
MIAX Sapphire electronically by its registered broker-dealer members
from remote locations. The Form 1 application further provides that
there would be a physical trading floor located in Miami, Florida. MIAX
Sapphire would have two types of members on the electronic trading
platform, market makers and electronic exchange members, and two types
of floor participants, floor brokers and floor market makers. Further,
the Form 1 application states that MIAX Sapphire would be wholly-owned
by its parent company, Miami International Holdings, Inc. (``Miami
Holdings''), which is also the parent company of four existing national
securities exchanges, Miami International Securities Exchange, LLC,
MIAX PEARL, LLC, MIAX Emerald, LLC, and Minneapolis Grain Exchange,
LLC.\2\
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\2\ Minneapolis Grain Exchange, LLC is also a designated
contract market and derivatives clearing organization that operates
under the regulatory oversight of the Commodity Futures Trading
Commission pursuant to section 5 of the Commodity Exchange Act. 7
U.S.C. 7.
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A more detailed description of the manner of operation of MIAX
Sapphire's proposed system can be found in Exhibit E to MIAX Sapphire's
Form 1 application. The proposed rulebook for the proposed exchange can
be found in Exhibit B to MIAX Sapphire's Form 1 application, and the
governing documents for both MIAX Sapphire and Miami Holdings can be
found in Exhibit A and Exhibit C to MIAX Sapphire's Form 1 application,
respectively. A listing of the officers and directors of MIAX Sapphire
can be found in Exhibit J to MIAX Sapphire's Form 1 application. A
complete set of forms concerning membership and access can be found in
Exhibit F to MIAX Sapphire's Form 1 application.
MIAX Sapphire's Form 1 application, including all of the Exhibits
referenced above, is available online at <a href="http://www.sec.gov/rules/other.shtml">www.sec.gov/rules/other.shtml</a>
as well as in the Commission's Public Reference Room. Interested
persons are invited to submit written data, views, and
[[Page 72117]]
arguments concerning MIAX Sapphire's Form 1, including whether the
application is consistent with the Exchange 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/other.shtml">http://www.sec.gov/rules/other.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#a3d1d6cfc68ec0cccecec6cdd7d0e3d0c6c08dc4ccd5"><span class="__cf_email__" data-cfemail="cab8bfa6afe7a9a5a7a7afa4beb98ab9afa9e4ada5bc">[email protected]</span></a>. Please include
File Number 10-240 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 10-240. 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/other.shtml">http://www.sec.gov/rules/other.shtml</a>).
Copies of the submission, all subsequent amendments, all written
statements with respect to MIAX Sapphire's Form 1 filed with the
Commission, and all written communications relating to the application
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 a.m. and 3
p.m. Copies of the filing also will be available for inspection and
copying at the principal office of the Exchange. Do not include
personal identifiable information in submissions; you should submit
only information that you wish to make available publicly. We may
redact in part or withhold entirely from publication submitted material
that is obscene or subject to copyright protection.
All submissions should refer to File Number 10-240 and should be
submitted on or before December 4, 2023.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\3\
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\3\ 17 CFR 200.30-3(a)(71)(i).
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-23036 Filed 10-18-23; 8:45 am]
BILLING CODE 8011-01-P
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