79658 Federal Register / Vol. 89, No. 189 / Monday, September 30, 2024 / Notices 

23 15 U.S.C. 78s(b)(3)(A)(iii). 

24 17 CFR 240.19b–4(f)(6). 

25 15 U.S.C. 78s(b)(3)(A)(iii). 

26 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. 

27 17 CFR 240.19b–4(f)(6). 

28 17 CFR 240.19b–4(f)(6)(iii). 

29See supra note 5. 

30For 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). 

31 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

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 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 23 and Rule 

19b–4(f)(6) thereunder.24 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)(iii) of the Act 25 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.26

A proposed rule change filed under 

Rule 19b–4(f)(6) 27 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),28 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has requested 

that the Commission waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. According to the Exchange, the 

proposed rule change is a competitive 

response to a filing submitted by ISE 

that recently was approved by the 

Commission.29 The Exchange has stated 

that waiver of the 30-day operative 

delay would permit the Exchange to list 

Monday Short Term Daily Expirations 

for options on GLD, SLV, and TLT at the 

same time as ISE. The Commission 

believes that the proposed rule change 

presents no novel issues and that waiver 

of the 30-day 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 proposed rule change as 

operative upon filing.30

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 

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– 

MIAX–2024–37 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–MIAX–2024–37. 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–MIAX–2024–37 and should be 

submitted on or before October 21, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Vanessa A. Countryman 

Secretary. 

[FR Doc. 2024–22268 Filed 9–27–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101146; File No. SR– 

PEARL–2024–42] 

Self-Regulatory Organizations; MIAX 

PEARL, LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the MIAX Pearl 

Options Fee Schedule 

September 24, 2024. 

Pursuant to the provisions of Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 notice is hereby given that 

on September 10, 2024, MIAX PEARL, 

LLC (‘‘MIAX Pearl’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’) a 

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 is filing a proposal to 

amend the MIAX Pearl Options 

Exchange Fee Schedule (the ‘‘Fee 

Schedule’’) to amend Section 5)f), 

Member and Non-Member Technical 

Support Request Fee. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://www.miaxglobal.com/markets/ 

us-options/pearl-options/rule-filings at 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 189 / Monday, September 30, 2024 / Notices 79659 

3References to ‘‘MIAX Pearl’’ in this filing are to 

the options trading facility of MIAX PEARL, LLC. 

4The term ‘‘Member’’ means an individual or 

organization that is registered with the Exchange 

pursuant to Chapter II of Exchange 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 the Definitions section of the Fee 

Schedule and Exchange Rule 100. 

5See Securities Exchange Act Release No. 80061 

(February 17, 2017), 82 FR 11676 (February 24, 

2017) (SR–PEARL–2017–10). See also Fee 

Schedule, Section 5)f). 

6See Nasdaq PHLX LLC Rules, General 8 

Connectivity, Section 1(d) Additional Charges/ 

Services (assessing $264 per hour for Power 

Consulting Service plus the cost of materials, if 

necessary); The Nasdaq Stock Market LLC Rules, 

General 8: Connectivity, Section 1(d) Additional 

Charges/Services (assessing $264 per hour for 

Power Consulting Service plus the cost of materials, 

if necessary); Nasdaq ISE, LLC Rules, General 8: 

Connectivity, Section 1(d) Additional Charges/ 

Services (assessing $264 per hour for Power 

Consulting Service plus the cost of materials, if 

necessary). 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(4). 

9 15 U.S.C. 78f(b)(5). 

10See supra note 6. 

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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange 3 proposes to amend 

Section 5)f), Member and Non-Member 

Technical Support Request Fee, to now 

include in the fee to be assessed to 

Members 4 and non-Members the cost of 

materials necessary for the Exchange’s 

data center personnel to complete such 

technical support. 

Background 

The Exchange established the 

technical support request fee at the 

current hourly rate of $200 per hour in 

2017.5 The Exchange has an 

infrastructure comprised of low latency 

and ultra-low latency proximity 

solutions in several offsite data center 

locales offering universal access to all 

Exchange services via a single common 

connection across a variety of high 

speed network interfaces. The Exchange 

offers connectivity in and between its 

data center facilities and supports direct 

attachment of all network equipment or 

direct attached host systems of both 

Member and non-Member users of the 

Exchange. 

Technical support refers to the use of 

Exchange engineers to perform on-site 

technical support tasks in the data 

centers for Members and non-Members, 

including the following support-related 

tasks: (1) power cycling of equipment; 

(2) patching and plugging in cabling and 

circuits; (3) observing, describing or 

reporting on display indicators; (4) 

configuration of hardware components 

instructed by the customer; (5) diagnosis 

and repairs as instructed by the 

customer; (6) swapping hardware 

components with Exchange-supplied or 

customer-supplied spares or upgrades; 

(7) troubleshooting heat related issues as 

instructed by customers; and (8) 

returning defective equipment to the 

manufacturer or customer. 

Proposal 

The Exchange proposes to amend 

Section 5)f), Member and Non-Member 

Technical Support Request Fee, to now 

include in the fee to be assessed to 

Members and non-Members that request 

technical support the cost of materials 

necessary for the Exchange to complete 

such technical support in any of the 

Exchange’s data centers. Some examples 

of materials for such technical support 

may include, but are not limited to, fiber 

optic cables, fiber spool, optical 

connectors (a device used to connect 

fiber optic cables), and patch cables. 

The Exchange does not propose to 

assess any amount in excess of the cost 

of any materials that are necessary for 

the Exchange’s on-site engineers to 

complete the requested technical 

support. The Exchange simply proposes 

to pass through the costs of the 

materials, if necessary, to complete such 

technical support. At least one 

competing exchange group similarly 

passes through the cost of materials to 

their customers when performing 

similar types of services in their data 

centers.6

2. Statutory Basis 

The Exchange believes that the 

proposed fees are consistent with 

Section 6(b) of the Act 7 in general, and 

furthers the objectives of Section 6(b)(4) 

of the Act 8 in particular, in that it 

provides for the equitable allocation of 

reasonable dues, fees and other charges 

among Members and other persons 

using any facility or system which the 

Exchange operates or controls. The 

Exchange also believes the proposed 

fees further the objectives of Section 

6(b)(5) of the Act 9 in that they are 

designed to promote just and equitable 

principles of trade, remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general protect investors and the public 

interest and are not designed to permit 

unfair discrimination between 

customers, issuers, brokers and dealers. 

The Exchange believes it is reasonable 

to include in the cost of the technical 

support request fee the cost of any 

materials that are necessary for the 

Exchange’s on-site engineers to 

complete the requested technical 

support because the Exchange will only 

pass through the actual costs it is 

charged by external vendors of such 

materials. The Exchange will not pass 

through any amount in excess of the 

cost of any materials that are necessary 

for the Exchange’s on-site engineers to 

complete the requested technical 

support. 

The Exchange believes the proposal is 

equitable and not unfairly 

discriminatory because the Exchange 

will pass through the costs of materials 

for requested technical support in an 

equal manner to all Members and nonMembers that request technical support 

in the data centers that requires the 

Exchange to purchase materials to 

complete such request. The cost for 

materials provided by the Exchange’s 

external vendors supplying the 

materials will be passed through 

directly to the Member or non-Member 

requesting technical support. 

Furthermore, Members and nonMembers are not required to use the 

technical support service. The Exchange 

offers this service as a convenience to 

all Members and non-Members. The 

Exchange believes the proposal is 

reasonable because it will permit both 

Members and non-Members to request 

the use of the Exchange’s on-site data 

center personnel as technical support 

and as a convenience in order to test or 

otherwise assess the user’s connectivity 

to the Exchange via its data centers, 

while paying for the cost of any 

materials the Exchange is required to 

purchase to complete such requests. 

Additionally, at least one competing 

options exchange group passes through 

the cost of materials to their customers 

when performing similar types of 

services in their data centers.10


ddrumheller on DSK120RN23PROD with NOTICES1
79660 Federal Register / Vol. 89, No. 189 / Monday, September 30, 2024 / Notices 

11See id. 

12 15 U.S.C. 78s(b)(3)(A)(ii). 

13 17 CFR 240.19b–4(f)(2). 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

Accordingly, the Exchange believes 

the proposal is reasonable, equitable 

and not unfairly discriminatory. 

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 purposes of the Act. 

Intra-Market Competition 

The Exchange believes the proposal to 

pass through the cost of any materials 

that are necessary for the Exchange’s onsite engineers to complete the requested 

technical support will not result in any 

burden on intra-market competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act 

because the Exchange will only passthrough the actual costs it is charged by 

third-party external vendors for such 

materials. At least one competing 

options exchange group similarly passes 

along charges assessed to those 

exchanges by third-party external 

vendors supplying materials on behalf 

of that exchange group’s customers.11

Additionally, the pass through of 

costs for materials will be assessed 

equally to all Members and nonMembers who request technical support 

that requires the Exchange to purchase 

materials to complete the requested 

support. The Exchange notes that 

Members and non-Members are not 

required to use the service. The 

Exchange offers this service as a 

convenience to all Members and nonMembers. The Exchange believes the 

proposal will not impose any burden on 

intra-market competition because it will 

permit both Members and non-Members 

to request the use of the Exchange’s onsite data center personnel as technical 

support and as a convenience in order 

to test or otherwise assess the user’s 

connectivity to the Exchange via its data 

centers. 

Inter-Market Competition 

The Exchange believes that the 

proposed changes will not result in any 

burden on inter-market competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

As discussed above, market participants 

are not forced to connect to and trade 

on all exchanges. The Exchange believes 

that the proposed pass-through of costs 

for materials for technical support will 

not cause any burden on inter-market 

competition because none of these 

changes impact other exchanges’ ability 

to compete. 

Accordingly, the Exchange does not 

believe its proposed fee changes impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 12 and Rule 

19b–4(f)(2) 13 thereunder. 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– 

PEARL–2024–42 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–PEARL–2024–42. 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–PEARL–2024–42 and should be 

submitted on or before October 21, 

2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2024–22261 Filed 9–27–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101152; File No. SR– 

PEARL–2024–45] 

Self-Regulatory Organizations; MIAX 

PEARL LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Exchange 

Rule 404, Series of Option Contracts 

Open for Trading, To Amend the Short 

Term Option Series Program 

September 24, 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 

September 16, 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 


ddrumheller on DSK120RN23PROD with NOTICES1