79060 Federal Register / Vol. 85, No. 236 / Tuesday, December 8, 2020 / Notices 

33 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 56041 

(July 11, 2007), 72 FR 39114 (July 17, 2007) (SR– 

NYSEArca–2007–43) (Notice of Filing and Order 

Granting Accelerated Approval of Proposed Rule 

Change to List and Trade Shares of the iShares 

COMEX Gold Trust) (‘‘NYSE Arca Gold Order’’). 

The Commission previously approved listing of 

iShares COMEX Gold Trust on the American Stock 

Exchange LLC. See Securities Exchange Act Release 

No. 51058 (January 19, 2005), 70 FR 3749 (January 

26, 2005) (SR–Amex–2004–38) (granting approval 

to list and trade the Shares on Amex) (‘‘Amex Gold 

Order’’). See also Securities Exchange Act Release 

Nos. 50792 (December 3, 2004), 69 FR 71446 

(December 9, 2004) (SR–Amex–2004–38) (providing 

notice of Amex’s proposal to list and trade shares 

of the Trust) (‘‘Amex Gold Notice’’); 63398 

(November 30, 2010), 75 FR 76056 (December 7, 

2010) (SR–NYSEArca–2010–105) (Notice of Filing 

and Immediate Effectiveness of Proposed Rule 

Change Relating to the Calculation of Net Asset 

Value for the iShares Gold Trust). The following 

information about Shares of the iShares Gold Trust 

currently is required to be available on the iShares 

Gold Trust’s website pursuant to the Amex Gold 

Notice, Amex Gold Order and NYSE Arca Gold 

Order: (a) The prior business day’s NAV per Share; 

(b) Basket Gold Amount; (c) the reported Share 

closing price; (d) the present day’s Indicative Basket 

Gold Amount; (e) the midpoint of the bid-ask price 

in relation to the NAV as of the time the NAV is 

calculated (‘‘Bid-Ask Price’’); (f) calculation of the 

premium or discount of such price against such 

NAV; (g) data in chart form displaying the 

frequency distribution of discounts and premiums 

of the Bid-Ask Price against the NAV, within 

appropriate ranges for each of the four previous 

calendar quarters; (h) the prospectus; and (i) other 

applicable quantitative information, such as 

expense ratios, trading volumes, and the total return 

of the Shares. As stated in the Amex Gold Notice 

and the NYSE Arca Gold Order, the ‘‘Basket Gold 

Amount’’ is the corresponding amount of gold, 

measured in fine ounces, to be exchanged for an 

issuance of a basket of 50,000 Shares for the 

purpose of creating and redeeming the Shares. Also, 

as stated in the Amex Gold Notice and the NYSE 

Arca Gold Order, the ‘‘Indicative Basket Gold 

Amount’’ is the indicative amount of gold to be 

deposited for issuance of the Shares that 

Authorized Participants can use. The NAV per 

Share, Basket Gold Amount, Indicative Basket Gold 

Amount and Indicative Trust Value are available on 

the Trust’s website or through one or more major 

market data vendors, as described above, and are 

not available on the Exchange’s website. In 

addition, investors can access the gold spot price 

and gold futures prices through major market data 

vendors. The Indicative Trust Value also is 

available through one or more major market data 

vendors. 

5See Securities Exchange Act Release No. 58956 

(November 14, 2008), 73 FR 71074 (November 24, 

2008) (SR–NYSEArca–2008–124) (Notice of Filing 

and Order Granting Accelerated Approval of 

Proposed Rule Change to List Shares of iShares 

Silver Trust) (‘‘NYSE Arca Silver Order’’). The 

Commission previously approved listing of iShares 

Silver Trust on the American Stock Exchange LLC. 

See Securities Exchange Act Release No. 53521 

(March 20, 2006), 71 FR 14967 (March 24, 2006) 

(SR–Amex–2005–72) (‘‘Amex Silver Order’’). The 

following information about Shares of the iShares 

Silver Trust currently is required to be available on 

the Trust’s website pursuant to the Amex Silver 

Order and the NYSE Arca Silver Order: (a) The 

prior business day’s NAV and the reported closing 

price; (b) the midpoint of the bid-ask price in 

relation to the NAV as of the time the NAV is 

calculated (the ‘‘Bid-Asked Price’’); (c) calculation 

of the premium or discount of such price against 

such NAV; (d) data in chart form displaying the 

frequency distribution of discounts and premiums 

of the Bid-Ask Price against the NAV, within 

appropriate ranges for each of the four (4) previous 

calendar quarters; (e) the Basket Silver Amount; (f) 

the Indicative Basket Silver Amount; (g) the 

prospectus; and (h) other applicable quantitative 

information. The NAV per Share, Basket Silver 

Amount, Indicative Basket Silver Amount and 

Indicative Trust Value are available on the Trust’s 

website or through one or more major market data 

vendors, as described above, and are not available 

on the Exchange’s website. In addition, investors 

can access the silver spot price and silver futures 

prices through major market data vendors. The 

Indicative Trust Value also is available through one 

or more major market data vendors. 

6See Securities Exchange Act Release No. 56932 

(December 7, 2007), 72 FR 71178 (December 14, 

2007) (SR–NYSEArca–2007–112) (Notice of Filing 

and Order Granting Accelerated Approval of a 

Proposed Rule Change to List and Trade Shares of 

the iShares S&P GSCI Commodity-Indexed Trust) 

(‘‘GSCI Order’’, ’’ together with the Amex Gold 

Order and Amex Silver Order, the ‘‘Orders’’). See 

also, Securities Exchange Act Release No. 54025 

(June 21, 2006), 71 FR 36856 (June 28, 2006) (SR– 

NYSEArca–2006–12) (approving, among other 

things, the trading of the Shares on NYSE Arca 

pursuant to unlisted trading privileges). The 

Commission previously approved listing of the 

iShares S&P GSCI Commodity-Indexed Trust on the 

New York Stock Exchange, Inc. See Securities 

Exchange Act Release No. 54013 (June 16, 2006), 71 

FR 36372 (June 26, 2006) (SR–NYSE–2006–17) 

(approving listing and trading of the Shares on 

NYSE). The following information about Shares of 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.33

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–26901 Filed 12–7–20; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90547; File No. SR– 

NYSEArca–2020–99] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Regarding the Availability 

of Information for the iShares Gold 

Trust and the iShares Silver Trust 

Under NYSE Arca Rule 8.201–E 

(Commodity-Based Trust Shares) and 

iShares S&P GSCI Commodity-Indexed 

Trust Under Rule 8.203–E (Commodity 

Index Trust Shares) 

December 2, 2020. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on 

November 23, 2020, NYSE Arca, Inc. 

(‘‘NYSE Arca’’ 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 self-regulatory 

organization. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes certain 

changes regarding the availability of 

information for the iShares Gold Trust 

(formerly the iShares® COMEX Gold 

Trust) and the iShares Silver Trust, 

shares of which are currently listed on 

the Exchange under NYSE Arca Rule 

8.201–E (Commodity-Based Trust 

Shares), and the iShares S&P GSCI 

Commodity-Indexed Trust, shares of 

which currently are listed and traded on 

the Exchange under Rule 8.203–E 

(Commodity Index Trust Shares). The 

proposed rule change is available on the 

Exchange’s website at www.nyse.com, 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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes certain 

changes regarding the dissemination of 

information on the respective websites 

for the iShares Gold Trust (formerly the 

iShares COMEX Gold Trust) 4 and the 

iShares Silver Trust,5 shares of which 

are currently listed on the Exchange 

under NYSE Arca Rule 8.201–E 

(Commodity-Based Trust Shares) and 

the terms of the applicable listing rules 

approved by the Commission, and the 

S&P GSCI Commodity-Indexed Trust, 

shares of which currently are listed and 

traded on the Exchange under Rule 

8.203–E (Commodity Index Trust 

Shares) and the terms of the applicable 

listing rules approved by the 

Commission.6


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 85, No. 236 / Tuesday, December 8, 2020 / Notices 79061 

the iShares S&P GSCI Commodity-Indexed Trust 

currently is required to be available on the Trust’s 

website pursuant to the GSCI Order: (a) The prior 

business day’s NAV on a per Share basis and the 

reported closing price; (b) the mid-point of the bidask price in relation to the NAV as of the time the 

NAV is calculated (the ‘‘Bid-Ask Price’’); (c) 

calculation of the premium or discount of such 

price against such NAV; (d) data in chart form 

displaying the frequency distribution of discounts 

and premiums of the Bid-Ask Price against the 

NAV, within appropriate ranges for each of the four 

previous calendar quarters; (e) the prospectus; (f) 

the holdings of the Trust, including CERFs, cash 

and Treasury securities; (g) the Basket Amount, and 

(h) other applicable quantitative information. The 

Basket Amount is the amount of CERFs and ShortTerm Securities or cash that an Authorized 

Participant must deliver in exchange for one Basket. 

7 iShares Delaware Trust Sponsor LLC is the 

sponsor (‘‘Sponsor’’) of the iShares Gold Trust, the 

iShares Silver Trust and iShares S&P GSCI 

Commodity-Indexed Trust. 

8The term ‘‘Official Closing Price’’ is defined in 

NYSE Arca Rule 1.1(ll) as the reference price to 

determine the closing price in a security for 

purposes of Rule 7–E Equities Trading. The 

procedures for determining the Official Closing 

Price are set forth in Rule 1.1(ll). See Securities 

Exchange Act Release No. 82907 (March 20, 2018), 

83 FR 12980 (March 26, 2018) (SR–NYSEArca– 

2018–08) (Order Approving a Proposed Rule 

Change to Amend NYSE Arca Rule 1.1(ll)) (‘‘Official 

Closing Price Approval Order’’). See also, Securities 

Exchange Act Release No. 84471 (October 23, 2018), 

84 FR 54384 (October 29, 2018) (SR–NYSEArca– 

2018–63) (Order Approving a Proposed Rule 

Change To Amend NYSE Arca Rule 1.1(ll)). 

9See note 8, supra. 

10The Exchange notes that the term ‘‘official 

closing price’’ satisfies the definition of ‘‘market 

price’’ in Rule 6c–11 under the Investment 

Company Act of 1940 (‘‘1940 Act’’) (15 U.S.C. 80a– 

1) applicable to exchange-traded funds (‘‘ETFs’’) 

eligible to rely on Rule 6c–11. Such ETFs are 

required to disseminate a market price on their 

website. See Release Nos. 33–10695; IC–33646; File 

No. S7–15–18 (Exchange-Traded Funds) (September 

25, 2019), 84 FR 57162 (October 24, 2019) (the 

‘‘Rule 6c–11 Release’’). 

11As stated in the Orders and the Amex Gold 

Notice, the bid-ask price of Shares of the applicable 

Trust is determined using the highest bid and 

lowest offer as of the time of calculation of the 

NAV. 

12 Investors can access each Trust’s website at no 

cost. Investors also can access, for the iShares Gold 

Trust, the gold spot price and gold futures prices, 

and for the iShares Silver Trust, the silver spot 

price and silver futures prices through major market 

data vendors. The applicable Indicative Trust Value 

for each Trust is available through one or more 

major market data vendors. The NAV per Share for 

each Trust’ for the iShares Gold Trust, the Basket 

Gold Amount and Indicative Basket Gold Amount; 

and, for the iShares Silver Trust, the Basket Silver 

Amount and Indicative Basket Silver Amount are 

available on the applicable Trust’s website. 

13See note 8, supra. 

14See note 10, supra. 

15Section 6(b)(1) of the Act (15 U.S.C. 78f(b)(1)) 

requires (among other things) that a national 

securities exchange be organized and have the 

capacity to comply with its own rules. 

In the proposed rule changes filed 

with the Commission by the Exchange 

regarding listing and trading of shares 

(‘‘Shares’’) of the iShares Gold Trust, 

iShares Silver Trust, and iShares S&P 

GSCI Commodity-Indexed Trust (each a 

‘‘Trust’’ and, collectively, the ‘‘Trusts’’), 

the Exchange described the information 

available on the respective Trust’s 

website regarding Trust holdings.7 The 

Exchange proposes to change certain 

representations regarding closing price 

and midpoint price information to be 

disseminated on the websites for the 

Trusts, as described below. The purpose 

of this proposed rule change is to (1) 

specify that each Trust will disseminate 

the applicable Official Closing Price for 

that Trust’s Shares; 8 and (2) specify that 

each Trust will disseminate the 

midpoint of the national best bid and 

the national best offer as of the time the 

applicable net asset value (‘‘NAV’’) is 

calculated, as described below. 

The Orders stated that each respective 

Trust would disseminate the closing 

price for the applicable Shares of a 

Trust. The Exchange proposes to clarify 

that the closing price that each Trust 

disseminates for a Trust’s Shares is the 

Official Closing Price, which is defined 

in NYSE Arca Rule 1.1(ll).9 Such 

clarification would assist the Exchange 

in reviewing compliance with Exchange 

listing rules applicable to each Trust. 

The Trusts currently disseminate the 

Official Closing Price. The Exchange 

believes that such price provides a 

specific and precise measure of the 

price of a Trust’s Shares for investors.10

The Orders stated that each respective 

Trust would disseminate the midpoint 

of the bid-ask price in relation to the 

NAV as of the time the NAV is 

calculated. 11 The Trusts currently 

disseminate the midpoint of the 

Exchange bid-ask in relation to NAV. 

The Exchange proposes to clarify and 

make more specific the representation 

regarding midpoint of the bid-ask price 

by stating that a Trust would make 

available the price that is the midpoint 

of the national best bid and national 

best offer (‘‘NBBO’’) as of the time the 

NAV is calculated. Such clarification 

would assist the Exchange in reviewing 

compliance with Exchange listing rules 

applicable to each Trust. The Exchange 

believes that making available the 

midpoint of the NBBO would continue 

to help provide investors and other 

market participants with complete and 

accurate information regarding pricing 

of a Trust’s Shares. 

While NYSE Arca Rules 8.201–E and 

8.203–E do not expressly require that a 

Trust provide website disclosure of its 

portfolio, the Trusts currently provide 

such disclosure and would continue to 

do so. Other than changes to 

information to be disclosed on a Trust’s 

website as described herein, each of the 

Trusts would continue to comply with 

all other listing requirements set forth in 

the Orders and in NYSE Arca Rules 

8.201–E and 8.203–E, respectively. 

The Exchange believes that the 

proposed website disclosure for the 

Trusts, together with the portfolio 

disclosures by the Trusts, would 

continue to facilitate effective arbitrage 

between the market price of a Trust’s 

Shares and its NAV.12

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b)(5) of the Act that an 

exchange have rules that are designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to remove 

impediments to, and perfect the 

mechanism of a free and open market 

and, in general, to protect investors and 

the public interest. 

The Exchange proposes to clarify that 

each Trust will disseminate for a Trust’s 

Shares the Official Closing Price, which 

is defined in NYSE Arca Rule 1.1(ll).13

The Exchange believes that such price 

provides a specific and precise measure 

of the price of a Trust’s Shares for 

investors.14

The Exchange also proposes to clarify 

and make more specific the 

representation regarding midpoint of the 

bid-ask price by stating that a Trust 

would make available the price that is 

the midpoint of the national best bid 

and NBBO as of the time the NAV is 

calculated. Consistent with Section 

6(b)(1) of the Act,15 such clarification 

would assist the Exchange in reviewing 

compliance with Exchange listing rules 

applicable to each Trust. The Exchange 

believes that making available the 

midpoint of the NBBO would continue 

to help provide investors and other 

market participants with complete and 

accurate information regarding pricing 

of a Trust’s Shares. 

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 that is not 

necessary or appropriate in furtherance 

of the purpose of the Act. The Exchange 

believes that the proposed rule change 

would provide enhanced website 

disclosure for the Trusts, as described 

above, to the benefit of investors and the 

marketplace. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 


jbell on DSKJLSW7X2PROD with NOTICES
79062 Federal Register / Vol. 85, No. 236 / Tuesday, December 8, 2020 / Notices 

16 15 U.S.C. 78s(b)(3)(A)(iii). 

17 17 CFR 240.19b–4(f)(6). 

18 Id. 

19 17 CFR 240.19b–4(f)(6)(iii). 

20For 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). 

21 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 89028 

(June 8, 2020), 85 FR 35967. Comments on the 

proposed rule change can be found at: https://

www.sec.gov/comments/sr-nasdaq-2020-026/ 

srnasdaq2020026.htm. 

4 15 U.S.C. 78s(b)(2). 

5See Securities Exchange Act Release No. 89342, 

85 FR 44951 (July 24, 2020). The Commission 

designated September 10, 2020 as the date by which 

the Commission shall approve or disapprove, or 

institute proceedings to determine whether to 

approve or disapprove, the proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 16 and Rule 

19b–4(f)(6) thereunder.17 Because the 

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) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 18 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),19 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. The Commission believes waiver 

of the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because it would permit the Trusts to 

immediately disseminate enhanced 

price and other information, as 

described herein. The Commission 

notes that other than changes to 

information to be disclosed on a Trust’s 

website as described herein, each of the 

Trusts would continue to comply with 

all other listing requirements set forth in 

the Orders and the Amex Gold Notice 

and in NYSE Arca Rules 8.201–E and 

8.203–E, respectively. The Commission 

therefore waives the 30-day operative 

delay and designates the proposed rule 

change to be operative upon filing.20

At any time within 60 days of the 

filing of such 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. 

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 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSEArca–2020–99 on the subject line. 

Paper Comments 

• 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–NYSEArca–2020–99. 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 (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 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–NYSEArca–2020–99 and 

should be submitted on or before 

December 29, 2020. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2020–26902 Filed 12–7–20; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90553; File No. SR– 

NASDAQ–2020–026] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Designation of a Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change, 

as Modified by Amendment Nos. 1 and 

2, To Adopt a New Requirement 

Related to the Qualification of 

Management for Companies From 

Restrictive Markets 

December 2, 2020. 

On May 29, 2020, The Nasdaq Stock 

Market LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to adopt a new requirement 

related to the qualification of 

management for companies whose 

business is principally administered in 

a jurisdiction that has secrecy laws, 

blocking statutes, national security laws, 

or other laws or regulations restricting 

access to information by regulators of 

U.S.-listed companies. The proposed 

rule change was published for comment 

in the Federal Register on June 12, 

2020.3 On July 20, 2020, pursuant to 

Section 19(b)(2) of the Act,4 the 

Commission designated a longer period 

within which to approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 

determine whether to disapprove the 

proposed rule change.5 On August 21, 

2020, the Exchange filed Amendment 

No. 1 to the proposed rule change, 


jbell on DSKJLSW7X2PROD with NOTICES