Federal Register / Vol. 88, No. 169 / Friday, September 1, 2023 / Notices 60521 

18 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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–CboeBZX–2023–062 and should be 

submitted on or before September 22, 

2023. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–18896 Filed 8–31–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–087, OMB Control No. 

3235–0078] 

Submission for OMB Review; 

Comment Request; Extension: Rule 

15c3–3 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 15c3–3 (17 CFR 240.15c3–3), 

under the Securities Exchange Act of 

1934 (15 U.S.C. 78a et seq.). 

Furthermore, notice is given regarding 

new collections of information that were 

previously proposed in Rule 18a–4 

(OMB No. 3235–0700) and that were 

moved to this Rule 15c3–3 (OMB No. 

3235–0078) based on comments 

received during the rulemaking process. 

With respect to the extension of the 

previously approved collection of 

information, Rule 15c3–3 requires that a 

broker-dealer that holds customer 

securities obtain and maintain 

possession and control of fully paid and 

excess margin securities they hold for 

customers. In addition, the Rule 

requires that a broker-dealer that holds 

customer funds make either a weekly or 

monthly computation to determine 

whether certain customer funds need to 

be segregated in a special reserve bank 

account for the exclusive benefit of the 

firm’s customers. It also requires that a 

broker-dealer maintain a written 

notification from each bank where a 

Special Reserve Bank Account is held 

acknowledging that all assets in the 

account are for the exclusive benefit of 

the broker-dealer’s customers, and to 

provide written notification to the 

Commission (and its designated 

examining authority) under certain, 

specified circumstances. Finally, brokerdealers that sell securities futures 

products (‘‘SFP’’) to customers must 

provide certain notifications to 

customers and make a record of any 

changes of account type. 

A broker-dealer required to maintain 

the Special Reserve Bank Account 

prescribed by Rule 15c3–3 must obtain 

and retain a written notification from 

each bank in which it has a Special 

Reserve Bank Account to evidence the 

bank’s acknowledgement that assets 

deposited in the Account are being held 

by the bank for the exclusive benefit of 

the broker-dealer’s customers. In 

addition, a broker-dealer must 

immediately notify the Commission and 

its designated examining authority if it 

fails to make a required deposit to its 

Special Reserve Bank Account. Finally, 

a broker-dealer that effects transactions 

in SFPs for customers will also have 

paperwork burdens to make a record of 

each change in account type. 

The Commission staff estimates a total 

annual time burden of approximately 

1,109,518 hours and a total annual cost 

burden of approximately $3,516,241 to 

comply with the existing information 

collection requirements of the rule. 

In 2019, the Commission adopted 

amendments to establish segregation 

and notice requirements for brokerdealers with respect to their securitybased swap activity. The Commission 

staff estimates a total annual time 

burden of approximately 19,487 hours 

and a total annual cost burden of 

approximately $13,860 to comply with 

the information collection requirements 

of the 2019 amendments to the rule. 

The Commission staff thus estimates 

that the aggregate annual information 

collection burden associated with Rule 

15c3–3 is approximately 1,129,005 

hours and $3,530,101. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent by 

October 2, 2023 to (i) www.reginfo.gov/ 

public/do/PRAMain and (ii) David 

Bottom, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o John Pezzullo, 100 F 

Street NE, Washington, DC 20549, or by 

sending an email to: PRA_Mailbox@

sec.gov. 

Dated: August 29, 2023. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–18968 Filed 8–31–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98228; File No. SR–Phlx– 

2023–38] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Options 8 

Rules 

August 28, 2023. 

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 August 

14, 2023, Nasdaq PHLX LLC (‘‘Phlx’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. 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 to amend its 

Rules at Options 8 concerning Floor 

Trading. 

The text of the proposed rule change 

is available on the Exchange’s website at 


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60522 Federal Register / Vol. 88, No. 169 / Friday, September 1, 2023 / Notices 

3The term ‘‘Floor Market Maker’’ is a Market 

Maker who is neither an SQT or an RSQT. A Floor 

Market Maker may provide a quote in open outcry. 

See Phlx Options 8, Section 1(a)(4). 

4The Exchange also proposes to remove the rule 

text prescribing that such notification should be in 

writing, how to make changes to the Floor Market 

Maker Assignment Form, and acceptance of the 

form by the Exchange. 

5Cboe Rule 5.50(e) provide that, ‘‘During Regular 

Trading Hours, a Market-Maker has an appointment 

to trade open outcry in all classes traded on the 

Exchange. A TPH organization that is registered as 

a Market-Maker may only trade in open outcry 

through one of its nominees. A Market-Maker must 

be physically present in the trading crowd to trade 

in open outcry.’’ 

6The Options 8 rules govern trading on Phlx’s 

trading floor. A Floor Market Maker may not stream 

quotes. See supra note 3. 

7See Options 8, Section 27(c) and (d). 

8See Options 8, Section 28(a). 

9Today, a Floor Market Maker that fails to notify 

the Exchange in a timely manner would not be 

permitted to quote in certain options in which they 

have not been assigned. 

10Floor Market Makers are not subject to 

continuous quoting requirements pursuant to 

Options 8, Section 27(a). Further, Floor Market 

Makers are required to trade either (a) 1,000 

contracts and 300 transactions, or (b) 10,000 

contracts and 100 transactions, on the Exchange 

each quarter. Transactions executed in the trading 

crowd where the contra-side is an ROT are not 

included. See Options 8, Section 27(f). In meeting 

the trading requirements, Floor Market Makers are 

not required to quote in all assigned options series. 

11See Options 8, Section 8. 

12Pursuant to Options 8, Section 11(b), ‘‘All such 

assignments shall not be effective, and shall be 

terminated, in the event that such Floor Market 

Maker applicant fails to qualify as a Floor Market 

Maker on the Exchange.’’ Of note, the Exchange is 

not amending the process of assignment and 

approval to become the Floor Lead Market Maker. 

The term ‘‘Floor Lead Market Maker’’ is a member 

who is registered as an options Lead Market Maker 

pursuant to Options 2, Section 12(a) and has a 

physical presence on the Exchange’s trading floor. 

See Options 8, Section 1(a)(3). 

13 General 9, Section 67 requires a joint account 

to be reported to the Exchange by any member, 

member organization, or partner or stockholder 

therein, participating in such joint account before 

any transactions are effected on the Exchange for 

such joint account and shall include in substance 

https://listingcenter.nasdaq.com/ 

rulebook/phlx/rules, 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 

Phlx proposes to amend Options 8, 

Section 11, Floor Market Maker and 

Lead Market Maker Appointment, and 

reserve current Options 8, Section 16, 

Trading for Joint Account. Each change 

will be described below. 

Options 8, Section 11 

The Exchange is proposing to amend 

Options 8, Section 11, Floor Market 

Maker and Lead Market Maker 

Appointment. Specifically, the 

Exchange proposes to remove the 

current burdensome process within 

Options 8, Section 11(b) regarding Floor 

Market Maker 3 options assignments. 

Today, pursuant to Options 8, Section 

11(b), a Floor Market Maker shall notify 

the Exchange of each option, on an 

issue-by-issue basis, in which such 

Floor Market Maker intends to be 

assigned to make markets. Exchange 

options transactions initiated by such 

Market Maker on the Trading Floor for 

any account in which he had an interest 

shall to the extent prescribed by the 

Exchange be in such assigned classes. 

Such notification shall be in writing on 

a form prescribed by the Exchange 

(‘‘Floor Market Maker Assignment 

Form’’). Any change to such Floor 

Market Maker Assignment Form shall be 

made in writing by the Floor Market 

Maker prior to the end of the next 

business day in which such change is to 

take place. Receipt of the properly 

completed Floor Market Maker 

Assignment Form by a duly qualified 

Floor Market Maker applicant 

constitutes acceptance by the Exchange 

of such Floor Market Maker’s 

assignment in, or termination of 

assignment in (as indicated on the Floor 

Market Maker Assignment Form), the 

options listed on such Floor Market 

Maker Assignment Form. All such 

assignments shall not be effective, and 

shall be terminated, in the event that 

such Floor Market Maker applicant fails 

to qualify as a Floor Market Maker on 

the Exchange. 

The Exchange is proposing to remove 

the rule text related to notifying the 

Exchange of each options class in which 

such Floor Market Maker intends to be 

assigned and, instead, provide that a 

Floor Market Maker has an assignment 

to trade open outcry in all options 

classes traded on the Exchange.4 This 

proposed rule text is similar to Cboe 

Exchange, Inc. (‘‘Cboe’’) Rule 5.50(e).5

Today, a Floor Market Maker may 

only quote in open outcry on the 

Exchange’s Trading Floor and may not 

enter electronic quotations into the 

electronic System.6 Today, Floor Market 

Makers may be called upon by an 

Options Exchange Official to make a 

market in a trading crowd.7 Further, 

Phlx requires that at least one Floor 

Market Maker is present at the trading 

post prior to representing an order for 

execution.8 By assigning a Floor Marker 

Maker in all options classes traded on 

the Exchange, similar to Cboe, Phlx 

believes it will attract additional 

liquidity to its trading floor by allowing 

Floor Market Makers to quote in all 

options classes traded on Phlx without 

an administrative barrier.9 An approved 

Floor Market Maker is permitted to 

quote 10 in all options classes provided 

the Floor Market Maker is properly 

registered 11 and remains in good 

standing.12 The process described in 

Options 8, Section 11(b) is a notification 

process, not an approval process. This 

proposed method of assignment will 

remove the burdensome manual process 

of completing a Floor Market Maker 

Assignment Form for the benefit of both 

Phlx members who must file the form 

and Exchange staff who must track 

assignments. 

As provided in Options 8, Section 

11(a), the Exchange, in its discretion, 

may require a unit to obtain additional 

staff depending upon the number of 

assigned options classes and associated 

order flow. The Exchange proposes to 

amend Options 3, Section 11(a) to 

specify that ‘‘The Exchange, in its 

discretion, may require a unit to obtain 

additional staff depending upon the 

number of assigned options classes that 

is being quoted and associated order 

flow.’’ This change is being made as a 

Floor Market Maker will be assigned in 

all options classes pursuant to this 

proposal and the Exchange would 

monitor the amount of quoting activity 

in utilizing its discretion. 

Options 8, Section 16 

The Exchange proposes to reserve 

Options 8, Section 16, Trading for a 

Joint Account, which requires the 

disclosure of accounts held jointly with 

other members. This rule was put in 

place to address conflicts of interest 

among members. Options 8, Section 16 

is unnecessary because, today, there is 

no trading conducted in joint accounts 

on the trading floor. Also, Options 8, 

Section 16 is unnecessary because 

General 9, Section 67, Participation in 

Joint Accounts, requires, among other 

information, disclosure of other 

ownership and financial information.13


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Federal Register / Vol. 88, No. 169 / Friday, September 1, 2023 / Notices 60523 

the following: (1) Names of persons participating in 

such account and their respective interest therein; 

(2) Purpose of such account; (3) Amount of 

commitments in such account; and (4) A copy of 

any written agreement or instrument in writing 

relating to such account. See General 9, Section 

67(b). 

14The Exchange notes that the approval is not on 

a transaction basis, rather it is on an account basis. 

15 15 U.S.C. 78f(b). 

16 15 U.S.C. 78f(b)(5). 

17See Options 8, Section 27(c) and (d). 

18See Options 8, Section 28(a). 

19Floor Market Makers are not subject to 

continuous quoting requirements pursuant to 

Options 8, Section 27(a). Further, Floor Market 

Makers are required to trade either (a) 1,000 

contracts and 300 transactions, or (b) 10,000 

contracts and 100 transactions, on the Exchange 

each quarter. Transactions executed in the trading 

crowd where the contra-side is an ROT are not 

included. See Options 8, Section 27(f). In meeting 

the trading requirements, Floor Market Makers are 

not required to quote in all assigned options series. 

20See Options 8, Section 8. 

21Pursuant to Options 8, Section 11(b), ‘‘All such 

assignments shall not be effective, and shall be 

terminated, in the event that such Floor Market 

Maker applicant fails to qualify as a Floor Market 

Maker on the Exchange.’’ Of note, the Exchange is 

not amending the process of assignment and 

approval to become the Floor Lead Market Maker. 

The term ‘‘Floor Lead Market Maker’’ is a member 

who is registered as an options Lead Market Maker 

pursuant to Options 2, Section 12(a) and has a 

physical presence on the Exchange’s trading floor. 

See Options 8, Section 1(a)(3). 

22Cboe Rule 5.50(e) provide that, ‘‘During 

Regular Trading Hours, a Market-Maker has an 

appointment to trade open outcry in all classes 

traded on the Exchange. A TPH organization that 

is registered as a Market-Maker may only trade in 

open outcry through one of its nominees. A MarketMaker must be physically present in the trading 

crowd to trade in open outcry.’’ 

23 General 9, Section 67 requires a joint account 

to be reported to the Exchange by any member, 

member organization, or partner or stockholder 

therein, participating in such joint account before 

any transactions are effected on the Exchange for 

such joint account and shall include in substance 

the following: (1) Names of persons participating in 

such account and their respective interest therein; 

(2) Purpose of such account; (3) Amount of 

commitments in such account; and (4) A copy of 

any written agreement or instrument in writing 

relating to such account. See General 9, Section 

67(b). 

24The Exchange notes that the approval is not on 

a transaction basis, rather it is on an account basis. 

25Floor Market Makers are not subject to 

continuous quoting requirements pursuant to 

Options 8, Section 27(a). Further, Floor Market 

Makers are required to trade either (a) 1,000 

contracts and 300 transactions, or (b) 10,000 

contracts and 100 transactions, on the Exchange 

each quarter. Transactions executed in the trading 

Continued 

Today, all members (electronic and 

floor) are currently subject to General 9, 

Section 67, Participation in Joint 

Accounts, however only Phlx floor 

members are also subject to Options 8, 

Section 16. While Options 8, Section 16 

requires prior approval of a joint 

account 14 to initiate the purchase or 

sale on the Exchange of any security for 

any account in which he, his member 

organization or a participant therein, is 

directly or indirectly interested with 

any person other than such member 

organization or participant therein, 

General 9, Section 67, requires the 

reporting of joint accounts and permits 

Phlx staff to disapprove any joint 

account. Further, General 9, Section 67 

requires a Phlx member to report 

participation in such joint account 

before any transactions are effected on 

the Exchange for such joint account. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with section 6(b) 

of the Act,15 in general, and furthers the 

objectives of section 6(b)(5) of the Act,16

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest. 

Options 8, Section 11 

The Exchange’s proposal to amend 

Options 8, Section 11, Floor Market 

Maker and Lead Market Maker 

Appointment, is consistent with the Act 

and the protection of investors and the 

general public because assigning a Floor 

Marker Maker in all options classes 

traded on the Exchange will enable Phlx 

to attract additional liquidity to its 

trading floor by allowing Floor Market 

Makers to quote in all options classes 

traded on Phlx without any burdensome 

administrative barriers. Furthermore, 

the proposal will remove impediments 

to and perfect the mechanism of a free 

and open market by removing the 

manual process of completing a Floor 

Market Maker Assignment Form for the 

benefit of both Phlx members who must 

file the form and Exchange staff who 

must track assignments. 

With respect to protecting investors 

and the general public, Phlx continues 

to have rules in place to maintain 

orderly markets on its trading floor. 

Today, a Floor Market Maker may only 

quote in open outcry on the Exchange’s 

Trading Floor and may not enter 

electronic quotations into the electronic 

System. Floor Market Makers may be 

called upon by an Options Exchange 

Official to make a market in a trading 

crowd.17 Further, Phlx requires that at 

least one Floor Market Maker is present 

at the trading post prior to representing 

an order for execution.18 An assigned 

Floor Market Maker is permitted to 

quote 19 in all options classes provided 

the Floor Market Maker is properly 

registered 20 and remains in good 

standing.21 This proposed rule text is 

similar to Cboe Rule 5.50(e).22

Amending Options 3, Section 11(a) to 

specify that ‘‘The Exchange, in its 

discretion, may require a unit to obtain 

additional staff depending upon the 

number of assigned options classes that 

is being quoted and associated order 

flow’’ is consistent with the Act and the 

protection of investors because the 

Exchange would monitor the amount of 

quoting activity in utilizing its 

discretion going forward. 

Options 8, Section 16 

The Exchange’s proposal to reserve 

Options 8, Section 16, Trading for a 

Joint Account, is consistent with the Act 

and the protection of investors and the 

general public because the rule is 

unnecessary. Today, there is no trading 

conducted in joint accounts on the 

trading floor. Also, Options 8, Section 

16 is unnecessary because General 9, 

Section 67, Participation in Joint 

Accounts, requires, among other 

information, disclosure of other 

ownership and financial information.23

While Options 8, Section 16 requires 

prior approval of a joint account 24 to 

initiate the purchase or sale on the 

Exchange of any security for any 

account in which he, his member 

organization or a participant therein, is 

directly or indirectly interested with 

any person other than such member 

organization or participant therein, 

General 9, Section 67, requires the 

reporting of joint accounts and permits 

Phlx staff to disapprove any joint 

account. Further, General 9, Section 67 

requires a Phlx member to report 

participation in such joint account 

before any transactions are effected on 

the Exchange for such joint account. 

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 11 

The Exchange’s proposal to amend 

Options 8, Section 11, Floor Market 

Maker and Lead Market Maker 

Appointment, does not impose an intramarket burden on competition because 

all Floor Marker Makers will be 

assigned in all options classes traded on 

the Exchange, provided the Floor 

Market Maker continues to qualify as a 

Floor Market Maker on the Exchange. 

The proposal will not require Floor 

Market Makers to quote in additional 

options series to meet their trading 

requirements 25 unless they elect to do 

so. 


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60524 Federal Register / Vol. 88, No. 169 / Friday, September 1, 2023 / Notices 

crowd where the contra-side is an ROT are not 

included. See Options 8, Section 27(f). In meeting 

the trading requirements, Floor Market Makers are 

not required to quote in all assigned options series. 

26See Cboe Rule 5.50(e). 

27 15 U.S.C. 78s(b)(3)(A). 28 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) 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. 

29 17 CFR 240.19b–4(f)(6). 30 17 CFR 240.19b–4(f)(6)(iii). 31For 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). 

The Exchange’s proposal to amend 

Options 8, Section 11, Floor Market 

Maker and Lead Market Maker 

Appointment, does not impose an intermarket burden on competition because 

Cboe 26 also appoints its Market-Maker 

to trade open outcry in all classes traded 

on Cboe. Additionally, other options 

trading floors may elect to adopt a 

similar rule. 

Amending Options 3, Section 11(a) to 

specify that ‘‘The Exchange, in its 

discretion, may require a unit to obtain 

additional staff depending upon the 

number of assigned options classes that 

is being quoted and associated order 

flow’’ does not impose an undue burden 

on intra-market competition because the 

Exchange would continue to apply this 

discretion in a fair manner by treating 

all similarly-situated Floor Market 

Makers in the same manner. 

Amending Options 3, Section 11(a) to 

specify that ‘‘The Exchange, in its 

discretion, may require a unit to obtain 

additional staff depending upon the 

number of assigned options classes that 

is being quoted and associated order 

flow’’ does not impose an undue burden 

on inter-market competition because 

other options trading floors markets may 

adopt a similar discretion. 

Options 8, Section 16 

The Exchange’s proposal to reserve 

Options 8, Section 16, Trading for a 

Joint Account, does not impose an intramarket burden on competition as no 

Phlx member on the trading floor would 

be subject to the rule. Additionally, all 

Phlx members and member 

organizations would be required to 

comply with General 9, Section 67. 

The Exchange’s proposal to reserve 

Options 8, Section 16, Trading for a 

Joint Account, does not impose an intermarket burden on competition because 

other options trading floors may adopt 

similar rules. 

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) of the Act 27 and Rule 19b– 

4(f)(6) thereunder.28

A proposed rule change filed under 

Rule 19b–4(f)(6) 29 normally does not 

become operative prior to 30 days after 

the date of the filing. However, Rule 

19b–4(f)(6)(iii) 30 permits the 

Commission to 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 Exchange 

may implement the proposed change 

and alleviate an administrative burden. 

The Exchange states that assigning Floor 

Market Makers in all options classes 

traded on the Exchange will enable Phlx 

to attract additional liquidity to its 

trading floor allowing Floor Market 

Makers to quote in all options classes 

traded on Phlx, without any 

burdensome administrative barrier, and 

that the proposal will also remove the 

manual process of completing a Floor 

Market Maker Assignment Form for the 

benefit of both Phlx members and 

Exchange staff. The Commission 

believes that waiver of the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest because the proposed rule 

change does not raise any new or novel 

issues. Accordingly, the Commission 

hereby waives the 30-day operative 

delay and designates the proposed rule 

change as operative upon filing.31

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

change should be approved or 

disapproved. 

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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

Phlx–2023–38 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–Phlx–2023–38. 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 (https://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 

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–Phlx–2023–38 and should 

be submitted on or before September 22, 

2023. 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 88, No. 169 / Friday, September 1, 2023 / Notices 60525 

32 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 96980 

(February 24, 2023), 88 FR 13161. 

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

5See Securities Exchange Act Release No. 97260, 

88 FR 22498 (April 13, 2023). 

6Amendment No. 1 is available at: https://

www.sec.gov/comments/sr-phlx-2023-07/ 

srphlx202307.htm. 

7See Securities Exchange Act Release No. 97624, 

88 FR 37107 (June 6, 2023). 

8 15 U.S.C. 78s(b)(2). 

9See supra note 3 and accompanying text. 

10 15 U.S.C. 78s(b)(2). 

11 17 CFR 200.30–3(a)(57). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.32

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–18895 Filed 8–31–23; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–98232; File No. SR–Phlx– 

2023–07] 

Self-Regulatory Organizations; Nasdaq 

PHLX 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 No. 1, To Make Permanent 

Certain P.M.-Settled Pilots 

August 28, 2023. 

On February 23, 2023, Nasdaq PHLX 

LLC (‘‘Phlx’’ 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 make permanent the pilot 

program to permit the listing and 

trading of options based on 1/100 the 

value of the Nasdaq-100 Index and the 

Exchange’s nonstandard expirations 

pilot program. The proposed rule 

change was published for comment in 

the Federal Register on March 2, 2023.3

On April 7, 2023, 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 May 11, 2023, the 

Exchange submitted Amendment No. 1 

to the proposed rule change 

(‘‘Amendment No. 1’’).6 On May 31, 

2023, the Commission instituted 

proceedings to determine whether to 

approve or disapprove the proposed 

rule change and published Amendment 

No. 1 for notice and comment.7

Section 19(b)(2) of the Exchange Act 8

provides that, after initiating 

proceedings, the Commission shall issue 

an order approving or disapproving the 

proposed rule change not later than 180 

days after the date of publication of 

notice of filing of the proposed rule 

change. The Commission may extend 

the period for issuing an order 

approving or disapproving the proposed 

rule change, however, by not more than 

60 days if the Commission determines 

that a longer period is appropriate and 

publishes reasons for such 

determination. The proposed rule 

change was published for notice and 

comment in the Federal Register on 

March 2, 2023.9 The 180th day after 

publication of the proposed rule change 

is August 29, 2023. The Commission is 

extending the time period for approving 

or disapproving the proposed rule 

change for an additional 60 days. 

The Commission finds it appropriate 

to designate a longer period within 

which to issue an order approving or 

disapproving the proposed rule change 

so that it has sufficient time to consider 

the proposed rule change and the issues 

raised therein. Accordingly, the 

Commission, pursuant to section 

19(b)(2) of the Exchange Act,10

designates October 28, 2023, as the date 

by which the Commission shall either 

approve or disapprove the proposed 

rule change (File No. SR–Phlx–2023– 

07). 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.11

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2023–18897 Filed 8–31–23; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #18112 and #18113; 

IOWA Disaster Number IA–00131] 

Presidential Declaration of a Major 

Disaster for Public Assistance Only for 

the State of Iowa 

AGENCY: Small Business Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Iowa (FEMA–4732–DR), 

dated 08/25/2023. 

Incident: Flooding. 

Incident Period: 04/24/2023 through 

05/13/2023. 

DATES: Issued on 08/25/2023. 

Physical Loan Application Deadline 

Date: 10/24/2023. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 05/28/2024. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Recovery & 

Resilience, U.S. Small Business 

Administration, 409 3rd Street SW, 

Suite 6050, Washington, DC 20416, 

(202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

08/25/2023, Private Non-Profit 

organizations that provide essential 

services of a governmental nature may 

file disaster loan applications at the 

address listed above or other locally 

announced locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: 

Allamakee, Clayton, Des Moines, 

Dubuque, Jackson, Lee, Scott. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations with 

Credit Available Elsewhere ... 2.375 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 2.375 

For Economic Injury: 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 2.375 

The number assigned to this disaster 

for physical damage is 18112 6 and for 

economic injury is 18113 0. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

Francisco Sa ́nchez, Jr., 

Associate Administrator, Office of Disaster 

Recovery & Resilience. 

[FR Doc. 2023–18892 Filed 8–31–23; 8:45 am] 

BILLING CODE 8026–09–P 


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