[Federal Register Volume 88, Number 201 (Thursday, October 19, 2023)]
[Notices]
[Pages 72116-72117]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-23036]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98746; File No. 10-240]


MIAX Sapphire, LLC; Notice of Filing of Application for 
Registration as a National Securities Exchange Under Section 6 of the 
Securities Exchange Act of 1934

October 13, 2023.
    On September 26, 2023, MIAX Sapphire, LLC (``MIAX Sapphire'' or 
``Applicant'') submitted to the Securities and Exchange Commission 
(``Commission'') a Form 1 application under the Securities Exchange Act 
of 1934 (``Exchange Act''), seeking registration as a national 
securities exchange under section 6 of the Exchange Act.
    The Commission is publishing this notice to solicit comments on 
MIAX Sapphire's Form 1 application. The Commission will take any 
comments it receives into consideration in making its determination 
about whether to grant MIAX Sapphire's request to be registered as a 
national securities exchange. The Commission will grant the 
registration if it finds that the requirements of the Exchange Act and 
the rules and regulations thereunder with respect to MIAX Sapphire are 
satisfied.\1\
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    \1\ 15 U.S.C. 78s(a).
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    The Applicant's Form 1 application provides detailed information on 
how MIAX Sapphire proposes to satisfy the requirements of the Exchange 
Act. The Form 1 application also provides that MIAX Sapphire would 
operate a fully automated electronic trading platform for the trading 
of listed options. It also provides that liquidity would be derived 
from quotes as well as orders to buy and orders to sell submitted to 
MIAX Sapphire electronically by its registered broker-dealer members 
from remote locations. The Form 1 application further provides that 
there would be a physical trading floor located in Miami, Florida. MIAX 
Sapphire would have two types of members on the electronic trading 
platform, market makers and electronic exchange members, and two types 
of floor participants, floor brokers and floor market makers. Further, 
the Form 1 application states that MIAX Sapphire would be wholly-owned 
by its parent company, Miami International Holdings, Inc. (``Miami 
Holdings''), which is also the parent company of four existing national 
securities exchanges, Miami International Securities Exchange, LLC, 
MIAX PEARL, LLC, MIAX Emerald, LLC, and Minneapolis Grain Exchange, 
LLC.\2\
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    \2\ Minneapolis Grain Exchange, LLC is also a designated 
contract market and derivatives clearing organization that operates 
under the regulatory oversight of the Commodity Futures Trading 
Commission pursuant to section 5 of the Commodity Exchange Act. 7 
U.S.C. 7.
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    A more detailed description of the manner of operation of MIAX 
Sapphire's proposed system can be found in Exhibit E to MIAX Sapphire's 
Form 1 application. The proposed rulebook for the proposed exchange can 
be found in Exhibit B to MIAX Sapphire's Form 1 application, and the 
governing documents for both MIAX Sapphire and Miami Holdings can be 
found in Exhibit A and Exhibit C to MIAX Sapphire's Form 1 application, 
respectively. A listing of the officers and directors of MIAX Sapphire 
can be found in Exhibit J to MIAX Sapphire's Form 1 application. A 
complete set of forms concerning membership and access can be found in 
Exhibit F to MIAX Sapphire's Form 1 application.
    MIAX Sapphire's Form 1 application, including all of the Exhibits 
referenced above, is available online at www.sec.gov/rules/other.shtml 
as well as in the Commission's Public Reference Room. Interested 
persons are invited to submit written data, views, and

[[Page 72117]]

arguments concerning MIAX Sapphire's Form 1, including whether the 
application is consistent with the Exchange Act.
    Comments may be submitted by any of the following methods:

Electronic Comments

    <bullet> Use the Commission's Internet comment form (http://www.sec.gov/rules/other.shtml); or
    <bullet> Send an email to <a href="/cdn-cgi/l/email-protection#a3d1d6cfc68ec0cccecec6cdd7d0e3d0c6c08dc4ccd5"><span class="__cf_email__" data-cfemail="cab8bfa6afe7a9a5a7a7afa4beb98ab9afa9e4ada5bc">[email protected]</span></a>. Please include 
File Number 10-240 on the subject line.

Paper Comments

    <bullet> Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number 10-240. This file number 
should be included on the subject line if email is used. To help the 
Commission process and review your comments more efficiently, please 
use only one method. The Commission will post all comments on the 
Commission's internet website (http://www.sec.gov/rules/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to MIAX Sapphire's Form 1 filed with the 
Commission, and all written communications relating to the application 
between the Commission and any person, other than those that may be 
withheld from the public in accordance with the provisions of 5 U.S.C. 
552, will be available for website viewing and printing in the 
Commission's Public Reference Room, 100 F Street NE, Washington, DC 
20549, on official business days between the hours of 10 a.m. and 3 
p.m. Copies of the filing also will be available for inspection and 
copying at the principal office of the Exchange. Do not include 
personal identifiable information in submissions; you should submit 
only information that you wish to make available publicly. We may 
redact in part or withhold entirely from publication submitted material 
that is obscene or subject to copyright protection.
    All submissions should refer to File Number 10-240 and should be 
submitted on or before December 4, 2023.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\3\
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    \3\ 17 CFR 200.30-3(a)(71)(i).

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-23036 Filed 10-18-23; 8:45 am]
BILLING CODE 8011-01-P


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