Notice2024-28762
Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Substantive, Clarifying Changes to the Exchange's Rulebook
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
December 9, 2024
Issuing agencies
Securities and Exchange Commission
Full Text
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<title>Federal Register, Volume 89 Issue 236 (Monday, December 9, 2024)</title>
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[Federal Register Volume 89, Number 236 (Monday, December 9, 2024)]
[Notices]
[Pages 97660-97664]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-28762]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-101798; File No. SR-PEARL-2024-55]
Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change To Make Non-
Substantive, Clarifying Changes to the Exchange's Rulebook
December 3, 2024.
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 November 21, 2024, MIAX PEARL, LLC (``MIAX Pearl'' 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.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange is filing a proposal to make non-substantive,
clarifying changes to the Exchange's Rulebook.
The text of the proposed rule change is available on the Exchange's
website at <a href="https://www.miaxglobal.com/markets/us-equities/pearl-equities/rule-filings">https://www.miaxglobal.com/markets/us-equities/pearl-equities/rule-filings</a>, at MIAX Pearl's principal office, 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.
[[Page 97661]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Proposal To Amend Chapter III
The Exchange proposes to make non-substantive clarifying changes to
the second paragraph of Chapter III to provide accuracy and precision
within the rule text. For background, Regulation SCI and MIAX \3\ Rule
321 require MIAX Pearl to designate certain members of both the options
and equities trading facilities of MIAX Pearl to participate in
business continuity and disaster recovery testing in a manner specified
by MIAX Pearl and at a frequency of not less than once every 12
months.\4\ Such testing ordinarily is part of an annual industry-wide
test. MIAX Rule 321, as incorporated into the MIAX Pearl Rulebook,
governs mandatory participation in testing of MIAX Pearl's backup
systems. In particular, MIAX Rule 321, as incorporated, requires MIAX
Pearl to designate certain Members \5\ and Equity Members \6\ that
account for a specified percentage of executed volume on MIAX Pearl
(separately, with respect to the options and equities trading
facilities of MIAX Pearl), measured on quarterly basis, to connect to
the MIAX Pearl backup systems and participate in functional and
performance testing of such system.\7\
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\3\ The term ``MIAX'' means Miami International Securities
Exchange, LLC. See Exchange Rule 100. The rules contained in MIAX
Chapter III, as such rules may be in effect from time to time, are
incorporated by reference into MIAX Pearl Chapter III, and are thus
MIAX Pearl Rules and thereby applicable to MIAX Pearl Members. See
Chapter III of Exchange's Rulebook.
\4\ See MIAX Rule 321(a)-(b).
\5\ The term ``Member'' means an individual or organization that
is registered with the Exchange pursuant to Chapter II of these
Rules for purposes of trading on the Exchange as an ``Electronic
Exchange Member'' or ``Market Maker.'' Members are deemed
``members'' under the Exchange Act. See Exchange Rule 100.
\6\ The term ``Equity Member'' is a Member authorized by the
Exchange to transact business on MIAX Pearl Equities. See Exchange
Rule 1901. The term ``MIAX Pearl Equities'' shall mean MIAX Pearl
Equities, a facility of MIAX PEARL, LLC. See id.
\7\ See MIAX Rule 321(b).
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On August 14, 2020, the U.S. Securities and Exchange Commission
(``Commission'') approved the Exchange's proposal to adopt rules
governing the trading of equity securities, referred to as MIAX Pearl
Equities.\8\ MIAX Pearl Equities began trading on September 25,
2020.\9\ For calendar year 2020, the annual business continuity and
disaster recovery industry-wide test was scheduled for October 24,
2020. MIAX Pearl Equities did not have two quarters of trading data on
which to base its Equity Member designation prior to the October 24,
2020 test. Thus, MIAX Rule 321 would not permit MIAX Pearl Equities to
designate any Equity Members to participate in the industry-wide test
for 2020 because no Equity Members would have the requisite trading
volume on MIAX Pearl Equities upon which a designation could be made at
that time.
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\8\ See Securities Exchange Act Release No. 89563 (August 14,
2020), 85 FR 51510 (August 20, 2020) (SR-PEARL-2020-03).
\9\ See ``MIAX PEARL Receives Approval to Operate Equities
Exchange; Launch Date Confirmed for September 25, 2020,'' available
at <a href="https://www.miaxglobal.com/sites/default/files/alert-files/MIAX_Press_Release_08182020.pdf">https://www.miaxglobal.com/sites/default/files/alert-files/MIAX_Press_Release_08182020.pdf</a>.
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To address the unique circumstances for disaster recovery testing
in 2020, the year in which MIAX Pearl Equities became operational, the
Exchange amended Chapter III of the Exchange's Rules to provide that
for calendar year 2020, notwithstanding paragraph (b) and
Interpretations and Policies .01 of MIAX Rule 321, which assigns the
Exchange responsibility of ``identifying Members that account for a
meaningful percentage of the Exchange's overall volume,'' the Exchange
instead designated at least three Equity Members on MIAX Pearl Equities
who have a meaningful percentage of trading volume in NMS Stocks across
the other equity exchanges in 2020.\10\ This allowed MIAX Pearl
Equities to identify Equity Members for industry-wide disaster recovery
testing in the absence of the metrics that are used in the ordinary
course to designate such firms.
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\10\ See Securities Exchange Act Release No. 89736 (September 2,
2020), 85 FR 55730 (September 9, 2020) (Notice of Filing and
Immediate Effectiveness of a Proposed Rule Change Relating to the
Designation of Members for Mandatory Disaster Recovery Testing
Pursuant to Regulation SCI for Calendar Year 2020).
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MIAX Pearl Equities now has sufficient trading data each year to
designate Equity Members that account for a specified percentage of
executed volume on MIAX Pearl Equities, measured on quarterly basis, to
require certain Equity Members to connect to the MIAX Pearl backup
systems and participate in functional and performance testing of such
system. Since the unique circumstances for disaster recovery testing in
2020 no longer exists, the Exchange now proposes to delete the second
paragraph of Chapter III. The purpose of the purposed change is to
delete the outdated rule text.
Proposal To Amend Exchange Rule 503
The Exchange proposes to make non-substantive, clarifying changes
to subparagraphs (a)(3)-(4) of Exchange Rule 503 to provide consistency
within the rule text.
Specifically, the Exchange proposes to amend the announcement
method by requiring announcements through a Regulatory Circular,
instead of a post on the Exchange's website, for the purpose of
Exchange Rule 503. The Exchange proposes to replace ``on the Exchange's
website'' with ``through a Regulatory Circular'' at the end of
subparagraph (a)(3) of Exchange Rule 503. The Exchange proposes to
replace ``published by the Exchange on its website'' with ``announced
to Members through a Regulatory Circular'' at the end of the first
sentence of subparagraph (a)(4) of Exchange Rule 503. The Exchange
proposes to replace ``posted by MIAX Pearl on its website'' with
``announced to Members through a Regulatory Circular'' at the end of
the second sentence of subparagraph (a)(4) of Exchange Rule 503. The
purpose of the proposed changes is to harmonize the Exchange's rules
and provide consistency within the Exchange's Rulebook as the Exchange,
and its affiliates, historically announce such information through a
Regulatory Circular.\11\ The proposed changes do not impact or alter
the information provided to any Member. Accordingly, with the proposed
changes, subparagraphs (a)(3)-(4) of Exchange Rule 503 will provide as
follows:
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\11\ See, e.g., MIAX Rule 503(d); see also MIAX Pearl Options
Exchange Regulatory Circular 2024-58, Market for Underlying Security
Used for Openings on MIAX Options, MIAX Pearl Options, MIAX Emerald
Options and MIAX Sapphire Options for Newly Listed Symbols Effective
Wednesday, October 23, 2024, available at <a href="https://www.miaxglobal.com/sites/default/files/circular-files/MIAX_Pearl_Options_RC_2024_58.pdf">https://www.miaxglobal.com/sites/default/files/circular-files/MIAX_Pearl_Options_RC_2024_58.pdf</a>.
(3) ``Market for the Underlying Security'' shall mean either the
primary listing market, the primary volume market (defined as the
market with the most liquidity in that underlying security for the
previous two calendar months), or the first market to open the
underlying security, as determined by the Exchange on a class by
class basis and announced to Members through a Regulatory Circular.
(4) ``Valid Width National Best Bid or Offer'' or ``Valid Width
NBBO'' shall mean the combination of all away market quotes and any
combination of MIAX Pearl Market Maker orders and quotes received
from a minimum number of away markets and a minimum number of MIAX
Pearl Market Makers within a specified bid/ask differential each as
established and announced to Members through a Regulatory Circular.
The Valid Width NBBO will be configurable by the underlying, and
tables with valid width
[[Page 97662]]
differentials will be announced to Members through a Regulatory
Circular. Away markets that are crossed will void all Valid Width
NBBO calculations. If any Market Maker orders or quotes on MIAX
Pearl are crossed internally, then all such orders and quotes will
be excluded from the Valid Width NBBO calculation. If any Market
Maker orders or quotes on MIAX Pearl are locking or crossing the
ABBO, the Market Maker's orders or quotes will be considered to be
at the locked or crossed ABBO price for purposes of calculating the
Valid Width NBBO.
Proposal To Delete All References to Mini-Options
The Exchange proposes to delete all outdated references to mini-
options in the rule text.\12\ On September 8, 2016, the Commission
approved the Exchange's Form 1 application to register as a national
securities exchange under Section 6 of the Exchange Act.\13\ At that
time, the Exchange established rule text for mini-options. Mini-options
never gained significant market acceptance and have not achieved the
expected level of traction or success in its target market.
Accordingly, all mini-options were delisted several years ago and the
Exchange does not have plans to re-list them in the foreseeable future.
As the Exchange no longer offers mini-option contracts, the Exchange
proposes to delete all references to mini-options to provide greater
clarity to Members and the public regarding the Exchange's offerings
and Rulebook. The Exchange also notes that other exchanges filed
similar proposals to delete references to mini-options.\14\ In the
event that the Exchange desires to list mini-options in the future, the
Exchange will file a rule change with the Commission to adopt rules to
list mini-options and corresponding fees and rebates for transactions
in mini-options, if applicable.
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\12\ The Exchange anticipates it will file a separate rule
filing pursuant to Rule 19b-4 of the Exchange Act with the
Commission to remove references to ``mini-options'' in the MIAX
Pearl Options Exchange Fee Schedule, including outdated tables that
still list fees (or rebates) for transactions by market participants
in mini-options.
\13\ See Securities Exchange Act Release No. 78793 (September 8,
2016), 81 FR 63238 (September 14, 2016) (File No. 10-227) (Exhibit
B) (establishing rules for mini-options).
\14\ See Securities Exchange Act Release No. 88374 (March 12,
2020), 85 FR 15522 (March 18, 2020) (SR-Phlx-2020-08) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Certain Phlx Rules To Remove References to Mini Options); see also
Securities Exchange Act Release No. 88458 (March 23, 2020), 85 FR
17372 (March 27, 2020) (SR-MRX-2020-07) (Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Related to the
Removal of Obsolete Listing Rules); see also Securities Exchange Act
Release No. 88456 (March 23, 2020), 85 FR 17126 (March 26, 2020)
(SR-ISE-2020-11) (Notice of Filing and Immediate Effectiveness of
Proposed Rule Change Related to the Removal of Obsolete Listing
Rules).
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Specifically, the Exchange proposes to delete the content in
Interpretations and Policies .08 of Exchange Rule 404 and then insert
``Reserved'' so as to keep the remainder of the Rulebook as currently
formatted. The Exchange proposes to delete the content in subparagraph
(c) of Exchange Rule 509 and then insert ``Reserved'' so as to keep the
remainder of the Rulebook as currently formatted. The Exchange proposes
to delete the content in Interpretations and Policies .02 of Exchange
Rule 510 and then insert ``Reserved'' so as to keep the remainder of
the Rulebook as currently formatted.
Proposal To Update Citations to Rule 600(b) of Regulation NMS
The Exchange proposes to update citations to Rule 600(b) of
Regulation NMS in Exchange Rule 100, Definitions, Rule 530, Limit Up-
Limit Down, Rule 2612, Minimum Price Variations, Rule 2614, Orders and
Order Instructions, and Rule 2705, Prohibition Against Trading Ahead of
Customer Orders.
In 2024, the Commission amended Regulation NMS under the Act to
update the rule that requires disclosures for order executions in
national market system (``NMS'') stocks.\15\ As part of that
initiative, the Commission adopted new definitions in Rule 600(b) of
Regulation NMS and renumbered the remaining definitions, including the
definitions of Trading Center (formerly Rule 600(b)(95)), Regular
Trading Hours (formerly Rule 600(b)(77)), NMS Stock (formerly Rule
600(b)(55)), and Intermarket Sweep Orders (formerly Rule 600(b)(38)).
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\15\ See Securities Exchange Act Release No. 99679, 89 FR 26428
(April 15, 2024) (S7-29-22).
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The Exchange accordingly proposes to update the relevant citations
to Rule 600(b) in its rules as follows:
<bullet> The citation to the definition of Trading Center in Rule
100 would be changed to Rule 600(b)(106).
<bullet> The citation to the definition of Regular Trading Hours in
Rule 530, Limit Up-Limit Down, would be changed to Rule 600(b)(88).
<bullet> The citation to the definition of NMS Stock in Rule 2612
would be changed to Rule 600(b)(65).
<bullet> The citation to the definition of Intermarket Sweep Orders
in Rule 2614 would be changed to Rule 600(b)(47).
The citation to the second requirement of the definition of
Intermarket Sweep Order would be changed to Rule 600(b)(47)(ii).
2. Statutory Basis
The Exchange believes that the proposed changes are consistent with
Section 6(b) of the Act \16\ in general, and further the objectives of
Section 6(b)(1) of the Act \17\ in particular, in that they are
designed to enforce compliance by the Exchange's Members and persons
associated with its Members and Equity Members, with the provisions of
the rules of the Exchange.
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\16\ 15 U.S.C. 78f(b).
\17\ 15 U.S.C. 78f(b)(1).
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In particular, the Exchange believes that the proposed changes are
designed to enforce compliance by the Exchange's Members and Equity
Members with the provisions of the rules of the Exchange because the
changes will provide greater clarity to Members, Equity Members and the
public regarding the Exchange's Rulebook by deleting the outdated rule
text in Chapter III that is no longer applicable, amending the
announcement method for certain types of openings on the Exchange,
deleting outdated references to mini-options that are no longer offered
by the Exchange, and updating the citations to Rule 600(b) of
Regulation NMS.
The proposed change to delete the second paragraph of Chapter III
of the Rulebook is to delete the outdated rule text since the unique
circumstances for disaster recovery testing in 2020 no longer exists
for Equity Members of MIAX Pearl Equities. The proposed changes to
amend the announcement method for certain types of openings on the
Exchange are to harmonize the rules and provide consistency within the
Exchange's Rulebook as the Exchange, and its affiliates, historically
announce such information through a Regulatory Circular. The proposed
changes to remove outdated references to mini-options will help enforce
compliance with the Exchange's rules by removing obsolete rule text.
Mini-options were delisted from the Exchange years ago since mini-
options failed to gain significant market acceptance and never achieved
the expected level of traction or success in its target market.
The proposed changes to update the citations to Rule 600(b) of
Regulation NMS are to correct inaccurate rule citations, thereby
reducing potential confusion and ensuring that those subject to the
Exchange's jurisdiction, regulators, and the investing public can more
easily navigate and understand the Exchange's rules. The Exchange
believes that the proposed changes will help enforce compliance with
the Exchange's rules by providing clarity and consistency within the
Exchange's
[[Page 97663]]
Rulebook, thereby making it easier for Members and Equity Members to
interpret the Exchange's Rulebook. The Exchange believes that Members
and Equity Members would benefit from the increased clarity and
consistency, thereby alleviating potential investor or market
participant confusion.
The Exchange believes that the proposed rule changes also further
the objectives of Section 6(b)(5) of the Act. In particular, they are
designed to prevent fraudulent and manipulative acts and practices,
promote just and equitable principles of trade, foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, remove impediments to and perfect the mechanisms of a
free and open market and a national market system and, in general,
protect investors and the public interest.
The Exchange believes the proposed changes promote just and
equitable principles of trade and remove impediments to and perfect the
mechanism of a free and open market and a national market system
because the proposed rule changes will provide greater clarity to
Members and Equity Members and the public regarding the Exchange's
Rulebook by deleting the outdated rule text in Chapter III of the
Rulebook that is no longer applicable to Equity Members, amending the
announcement method for certain types of openings on the Exchange to
provide consistency within the Rulebook, deleting outdated references
to mini-options that are no longer offered by the Exchange, and
updating citations to Rule 600(b) of Regulation NMS. It is in the
public interest for the Exchange's Rulebook to be accurate and
consistent so as to eliminate the potential for confusion.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed changes will impose
any burden on competition not necessary or appropriate in furtherance
of the purposes of the Act. Specifically, the Exchange believes the
proposed changes will not impose any burden on intra-market competition
as there is no functional change to the Exchange's System \18\ and
because the rules of the Exchange apply to all Members and Equity
Members equally.
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\18\ The term ``System'' means the automated trading system used
by the Exchange for the trading of securities. See Exchange Rule
100.
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The proposed change to delete the second paragraph of Chapter III
of the Rulebook is to delete the outdated rule text applicable to
Equity Members since the unique circumstances for disaster recovery
testing in 2020 no longer exists. The proposed changes to amend the
announcement method for certain types of openings on the Exchange are
to harmonize the rules and provide consistency within the Exchange's
Rulebook as the Exchange, and its affiliates, historically announce
such information through a Regulatory Circular. The proposed changes to
remove obsolete rule text include the removal of outdated references to
mini-options. Mini-options are no longer offered by the Exchange since
mini-options failed to gain significant market acceptance and have not
achieved the expected level of traction or success in its target
market. The proposed changes to update the citations to Rule 600(b) of
Regulation NMS are to correct inaccurate rule citations, reduce
potential confusion, and ensure that market participants can more
easily navigate and understand the Exchange's rules. The proposed rule
changes will have no impact on competition as they are not designed to
address any competitive issue but rather are designed to remedy minor,
non-substantive issues and provide added clarity to the Exchange's
Rulebook.
In addition, the Exchange does not believe the proposal will impose
any burden on inter-market competition as the proposal does not address
any competitive issues but rather would provide additional clarity in
the Exchange's rule by deleting the outdated rule text in Chapter III
of the Rulebook that is no longer applicable, amending the announcement
method for certain types of openings on the Exchange, deleting outdated
references to mini-options that are no longer offered by the Exchange,
and updating citations to Rule 600(b) of Regulation NMS. Since the
proposal does not substantively modify System functionality or
processes on the Exchange, the proposed changes will not impose any
burden on competition nor are they meant to affect competition among
the exchanges.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor 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 prior to 30 days from the date on which it was filed,
or such shorter time as the Commission may designate, if consistent
with the protection of investors and the public interest, the proposed
rule change has become effective pursuant to Section 19(b)(3)(A)(iii)
of the Act \19\ and Rule 19b-4(f)(6) thereunder.\20\
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\19\ 15 U.S.C. 78s(b)(3)(A)(iii).
\20\ 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, along
with a brief description and text of 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.
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A proposed rule change filed under Rule 19b-4(f)(6) \21\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\22\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing.
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\21\ 17 CFR 240.19b-4(f)(6).
\22\ 17 CFR 240.19b-4(f)(6)(iii).
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The Exchange states that waiver of the operative delay would permit
the Exchange to delete outdated rule text regarding unique
circumstances for disaster recovery that applied in 2020 and no longer
exist, amend the announcement method for certain types of openings on
the Exchange to make it consistent with the Exchange's historical
announcement method, delete outdated references to mini-options that
are no longer offered by the Exchange, and correct inaccurate rule
citations, thereby alleviating potential confusion and adding clarity
to its rules. For these reasons, and because the proposal does not
raise any new or novel issues, the Commission believes that waiver of
the operative delay is consistent with the protection of investors and
the public interest. Accordingly, the Commission hereby waives the 30-
day operative delay and designates the proposal operative upon
filing.\23\
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\23\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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
[[Page 97664]]
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 under Section 19(b)(2)(B) \24\ of the Act to
determine whether the proposed rule change should be approved or
disapproved.
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\24\ 15 U.S.C. 78s(b)(2)(B).
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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="https://www.sec.gov/rules/sro.shtml">https://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#ef9d9a838ac28c8082828a819b9caf9c8a8cc1888099"><span class="__cf_email__" data-cfemail="ff8d8a939ad29c9092929a918b8cbf8c9a9cd1989089">[email protected]</span></a>. Please include
file number SR-PEARL-2024-55 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-PEARL-2024-55. 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="https://www.sec.gov/rules/sro.shtml">https://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
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 SR-PEARL-2024-55 and should be
submitted on or before December 30, 2024.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\25\
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\25\ 17 CFR 200.30-3(a)(12), (59).
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Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024-28762 Filed 12-6-24; 8:45 am]
BILLING CODE 8011-01-P
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