86382 Federal Register / Vol. 89, No. 210 / Wednesday, October 30, 2024 / Notices 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4. 

CFR 3041.310; Public Representative: 

Arif Hafiz; Comments Due: October 31, 

2024. 

6. Docket No(s).: MC2025–147 and 

K2025–145; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 525 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

October 23, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

October 31, 2024. 

7. Docket No(s).: MC2025–148 and 

K2025–146; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 526 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

October 23, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Maxine Bradley; Comments Due: 

October 31, 2024. 

8. Docket No(s).: MC2025–149 and 

K2025–147; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 527 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

October 23, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Jennaca D. Upperman; Comments Due: 

October 31, 2024. 

9. Docket No(s).: MC2025–150 and 

K2025–148; Filing Title: USPS Request 

to Add Priority Mail Express, Priority 

Mail & USPS Ground Advantage 

Contract 528 to the Competitive Product 

List and Notice of Filing Materials 

Under Seal; Filing Acceptance Date: 

October 23, 2024; Filing Authority: 39 

U.S.C. 3642, 39 CFR 3035.105, and 39 

CFR 3041.310; Public Representative: 

Anaswar Jayakumar; Comments Due: 

October 31, 2024. 

III. Summary Proceeding(s) 

None. See Section II for public 

proceedings. 

This Notice will be published in the 

Federal Register. 

Jennie L. Jbara, 

Primary Certifying Official. 

[FR Doc. 2024–25151 Filed 10–29–24; 8:45 am] 

BILLING CODE 7710–FW–P 

POSTAL REGULATORY COMMISSION 

[Docket No. C2024–13; Presiding Officer’s 

Ruling No. 3] 

Complaint 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is providing 

notice that a prehearing 

videoconference is being rescheduled. 

This notice informs the public of the 

videoconference rescheduled date and 

time. 

DATES: Live WebEx Videoconference: 

October 30, 2024, at 10:00 p.m., eastern 

daylight time, virtual. 

ADDRESSES: Submit notices of 

intervention electronically via the 

Commission’s Filing Online system at 

https://www.prc.gov. Persons interested 

in intervening who cannot submit their 

views electronically should contact the 

person identified in the FOR FURTHER

INFORMATION CONTACT: David A. Trissell, 

General Counsel, at 202–789–6820. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

I. Background 

II. Ruling 

I. Background 

Due to the inability of one of the 

participants to attend, the prehearing 

videoconference scheduled for 

Thursday, October 24, 2024 must be 

rescheduled. The prehearing 

videoconference is hereby rescheduled 

for Wednesday, October 30, 2024, at 

10:00 a.m.1 If either party seeks a 

continuance of the videoconference date 

or an extension of time to complete 

activities related to the videoconference, 

the parties must make a good faith effort 

to find a mutually agreeable new date 

before contacting the Presiding Officer 

to request a scheduling change. This 

‘‘good faith effort’’ requires the 

requesting party to place at least one 

telephone call or send one email 

message to the other party. 

II. Ruling 

1. The prehearing videoconference, 

scheduled for Thursday, October 24, 

2024, is hereby rescheduled to 

Wednesday, October 30, 2024, at 10:00 

a.m. 

2. The Secretary shall arrange for 

publication of this ruling in the Federal 

Register. 

Jennie L. Jbara, 

Primary Certifying Official. 

[FR Doc. 2024–25149 Filed 10–29–24; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101430; File No. SR– 

MEMX–2024–41] 

Self-Regulatory Organizations; MEMX 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend the Short Term 

Options Series Program in Rule 19.5, 

Interpretation and Policy .05 

October 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 October 

23, 2024, MEMX, LLC (‘‘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 

Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A)(iii) of 

the Act 3 and Rule 19b–4(f)(6) 

thereunder.4 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 with the 

Commission a proposed rule change to 

amend the Short Term Options Series 

Program in Rule 19.5, Interpretation and 

Policy .05. The text of the proposed rule 

change is provided in Exhibit 5. 

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. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 210 / Wednesday, October 30, 2024 / Notices 86383 

5Today, the Exchange permits the listing of two 

Wednesday expirations for options on GLD, SLV, 

and TLT. See Securities Exchange Act Release No. 

99211 (December 20, 2023), 88 FR 89481 (December 

27, 2023) (SR–MEMX–2023–35). 

6See Securities Exchange Act Release No. 100837 

(August 27, 2024) 89 FR 71770 (September 3, 2024) 

(Order approving SR–ISE–2024–21). 

7The term ‘‘Short Term Option Series’’ is a series 

in an option class that is approved for listing and 

trading on the Exchange in which the series is 

opened for trading on any Monday, Tuesday, 

Wednesday, Thursday or Friday that is a business 

day and that expires on the Monday, Tuesday, 

Wednesday, Thursday, or Friday of the next 

business week, or, in the case of a series that is 

listed on a Friday and expires on a Monday, is 

listed one business week and one business day 

prior to that expiration. If a Tuesday, Wednesday, 

Thursday or Friday is not a business day, the series 

may be opened (or shall expire) on the first business 

day immediately prior to that Tuesday, Wednesday, 

Thursday or Friday, respectively. For a series listed 

pursuant to this section for Monday expiration, if 

a Monday is not a business day, the series shall 

expire on the first business day immediately 

following that Monday. See Exchange Rule 16.1. 

8As set forth in Table 1 in Rule 19.5, 

Interpretation and Policy .05(h), the Exchange 

currently only permits Wednesday expirations for 

USO, UNG, GLD, SLV and TLT. 

9Today, GLV, SLV and TLT may trade on 

Wednesdays. See supra note 5. They may also trade 

on Fridays, as is the case for all options series in 

the Short Term Option Series Program. 

10See Rule 19.5, Interpretation and Policy .05(e). 

11 Id. 

12See supra note 7. 

13See Rule 19.5, Interpretation and Policy .05(a). 

14 Id. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Rule 19.5, Interpretation and Policy .05 

(Series of Options Contracts Open for 

Trading) to permit the expansion of 

Monday expirations in Exchange Traded 

Products (‘‘ETPs’’). Specifically, the 

Exchange proposes to expand the Short 

Term Option Series Program to permit 

the listing of two Monday expirations 

for options on SPDR Gold Shares 

(‘‘GLD’’), iShares Silver Trust (‘‘SLV’’), 

and iShares 20+ Year Treasury Bond 

ETF (‘‘TLT’’).5 This is a competitive 

filing that is based on a proposal 

submitted from Nasdaq ISE, LLC 

(‘‘Nasdaq ISE’’) and recently approved 

by the Commission.6

Currently, as set forth in in Exchange 

Rule 19.5, Interpretation and Policy .05, 

after an option class has been approved 

for listing and trading on the Exchange 

as a Short Term Option Series,7 the 

Exchange may open for trading on any 

Thursday or Friday that is a business 

day (‘‘Short Term Option Opening 

Date’’) series of options on that class 

that expire at the close of business on 

each of the next five Fridays that are 

business days and are not Fridays in 

which standard expiration options 

series, Monthly Options Series, or 

Quarterly Options Series expire 

(‘‘Friday Short Term Option Expiration 

Dates’’). The Exchange may have no 

more than a total of five Short Term 

Option Friday Expiration Dates (‘‘Short 

Term Option Weekly Expirations’’). 

Further, if the Exchange is not open for 

business on the respective Thursday or 

Friday, the Short Term Option Opening 

Date for Short Term Option Weekly 

Expirations will be the first business 

day immediately prior to that respective 

Thursday or Friday. Similarly, if the 

Exchange is not open for business on a 

Friday, the Short Term Option 

Expiration Date for Short Term Option 

Weekly Expirations will be the first 

business day immediately prior to that 

Friday. 

Additionally, the Exchange may open 

for trading series of options on the 

symbols provided in Table 1 of 

Exchange Rule 19.5, Interpretation and 

Policy .05(h) that expire at the close of 

business on each of the next two 

Mondays, Tuesdays, Wednesdays, and 

Thursdays, respectively, that are 

business days beyond the current week 

and are not business days in which 

standard expiration options series, 

Monthly Options Series, or Quarterly 

Options Series expire (‘‘Short Term 

Option Daily Expirations’’).8 For those 

symbols listed in Table 1, the Exchange 

may have no more than a total of two 

Short Term Option Daily Expirations 

beyond the current week for each of 

Monday, Tuesday, Wednesday, and 

Thursday expirations, as applicable, at 

one time. 

At this time, the Exchange proposes to 

expand the Short Term Option Daily 

Expirations to permit the listing and 

trading of options on GLD, SLV, and 

TLT expiring on Mondays. The 

Exchange proposes to permit two Short 

Term Option Expiration Dates beyond 

the current week for each Monday 

expiration at one time, and would 

update Table 1 in Exchange Rule 19.5, 

Interpretation and Policy .05(h) for each 

of those symbols accordingly. 

The proposed Monday GLD, SLV, and 

TLT expirations will be similar to the 

current Monday SPY, QQQ, and IWM 

Short Term Option Daily Expirations set 

forth in Exchange Rule 19.5, 

Interpretation and Policy .05(h) such 

that the Exchange may open for trading 

on any Friday or Monday that is a 

business day (beyond the current week) 

series of options on GLD, SLV, and TLT 

to expire on any Monday of the month 

that is a business day and is not a 

Monday in which standard expiration 

options series, Monthly Options Series, 

or Quarterly Options Series expire, 

provided that Monday expirations that 

are listed on a Friday must be listed at 

least one business week and one 

business day prior to the expiration 

(‘‘Monday GLD Expirations,’’ ‘‘Monday 

SLV Expirations,’’ and ‘‘Monday TLT 

Expirations’’) (collectively, ‘‘Monday 

ETP Expirations’’).9 In the event Short 

Term Option Daily Expirations expire 

on a Monday and that Monday is the 

same day that a standard expiration 

options series, Monthly Options Series, 

or Quarterly Options Series expires, the 

Exchange would skip that week’s listing 

and instead list the following week; the 

two weeks would therefore not be 

consecutive. Today, Monday expirations 

in SPY, QQQ, and IWM similarly skip 

the weekly listing in the event the 

weekly listing expires on the same day 

in the same class as a standard 

expiration options series, Monthly 

Options Series, or Quarterly Options 

Series. 

The interval between strike prices for 

the proposed Monday ETP Expirations 

will be the same as those currently 

applicable to the Short Term Option 

Series Program.10 Specifically, the 

Monday ETP Expirations will have a 

strike interval of (i) $0.50 or greater for 

strike prices below $100, and $1 or 

greater for strike prices between $100 

and $150 for all option classes that 

participate in the Short Term Option 

Series Program, (ii) $0.50 for option 

classes that trade in one dollar 

increments and are in the Short Term 

Option Series Program, or (iii) $2.50 or 

greater for strike prices above $150.11 As 

is the case with other equity options 

series listed pursuant to the Short Term 

Option Series Program, the Monday ETP 

Expirations series will be P.M.-settled. 

Pursuant to the Exchange’s definition 

of the Short Term Option Series 

Program, if a Monday is not a business 

day, the series shall expire on the first 

business day immediately following that 

Monday.12

Currently, for each option class 

eligible for participation in the Short 

Term Option Series Program, the 

Exchange is limited to opening thirty 

(30) series for each expiration date for 

the specific class.13 The thirty (30) 

series restriction does not include series 

that are open by other securities 

exchanges under their respective weekly 

rules; the Exchange may list these 

additional series that are listed by other 

options exchanges.14 With the proposed 

changes, this thirty (30) series 

restriction would apply to Monday GLD, 

SLV, and TLT Short Term Option Daily 

Expirations as well. In addition, the 


ddrumheller on DSK120RN23PROD with NOTICES1
86384 Federal Register / Vol. 89, No. 210 / Wednesday, October 30, 2024 / Notices 

15See Rule 19.5, Interpretation and Policy .05(b). 

16See Rule 19.5, Interpretation and Policy .05. 

17See supra note 5. 

18 15 U.S.C. 78f(b). 

19 15 U.S.C. 78f(b)(5). 

20Today, Market Makers are required to quote a 

specified time in their assigned options series. See 

Exchange Rule 22.5. 

21See Rule 19.5, Interpretation and Policy .05. 

Exchange will be able to list series that 

are listed by other exchanges, assuming 

they file similar rules with the 

Commission to list Monday ETP 

Expirations. 

With this proposal, Monday ETP 

Expirations would be treated similarly 

to existing Monday SPY, QQQ, and 

IWM Expirations. With respect to 

standard expiration option series, Short 

Term Option Daily Expirations will be 

permitted to expire in the same week in 

which standard expiration option series 

on the same class expire.15 Not listing 

Short Term Option Daily Expirations for 

one week every month because there 

was a standard options series on that 

same class on the Friday of that week 

would create investor confusion. 

Further, as with Monday SPY, QQQ, 

and IWM Expirations, the Exchange 

would not permit Monday ETP 

Expirations to expire on a business day 

in which standard expiration option 

series, Monthly Options Series, or 

Quarterly Options Series expire.16

Therefore, all Short Term Option Daily 

Expirations would expire at the close of 

business on each of the next two 

Mondays, Tuesdays, Wednesdays, and 

Thursdays, respectively, that are 

business days and are not business days 

in which standard expiration option 

series, Monthly Options Series, or 

Quarterly Options Series expire. The 

Exchange believes that it is reasonable 

to not permit two expirations on the 

same day in which a standard 

expiration option series, Monthly 

Options Series, a Quarterly Options 

Series would expire because those 

options would be duplicative of each 

other. 

The Exchange does not believe that 

any market disruptions will be 

encountered with the introduction of 

Monday ETP Expirations. The Exchange 

currently trades P.M.-settled Short Term 

Option Series that expire Monday for 

SPY, QQQ and IWM and has not 

experienced any market disruptions nor 

issues with capacity. In addition, the 

Exchange has not experienced any 

market disruptions or issues with 

capacity in expanding the three ETPs to 

the Wednesday expirations.17 Today, 

the Exchange has surveillance programs 

in place to support and properly 

monitor trading in Short Term Option 

Series that expire Monday for SPY, 

QQQ and IWM. Further, the Exchange 

has the necessary capacity and 

surveillance programs in place to 

support and properly monitor trading in 

the proposed Monday ETP Expirations. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with the 

requirements of Section 6(b) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),18 in general, and Section 6(b)(5) 

of the Act,19 in particular, in that it is 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 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. 

Similar to Monday expirations in 

SPY, QQQ, and IWM, the proposal to 

permit Monday ETP Expirations, subject 

to the proposed limitation of two 

expirations beyond the current week, 

would protect investors and the public 

interest by providing the investing 

public and other market participants 

more choice and flexibility to closely 

tailor their investment and hedging 

decisions in these options and allow for 

a reduced premium cost of buying 

portfolio protection, thus allowing them 

to better manage their risk exposure. 

The Exchange represents that it has an 

adequate surveillance program in place 

to detect manipulative trading in the 

proposed option expirations, in the 

same way that it monitors trading in the 

current Short Term Option Series for 

Monday SPY, QQQ and IWM 

expirations. The Exchange also 

represents that it has the necessary 

system capacity to support the new 

expirations. Finally, the Exchange does 

not believe that any market disruptions 

will be encountered with the 

introduction of these option expirations. 

As discussed above, the Exchange 

believes that its proposal is a modest 

expansion of weekly expiration dates for 

GLD, SLV, and TLT given that it will be 

limited to two Monday expirations 

beyond the current week. Lastly, the 

Exchange believes that its proposal will 

not be a strain on liquidity providers 

because of the multi-class nature of 

GLD, SLV and TLT and the available 

hedges in highly correlated instruments. 

The Exchange believes that the 

proposal is consistent with the Act as 

the proposal would overall add a small 

number of Monday ETP Expirations by 

limiting the addition of two Monday 

expirations beyond the current week. 

The addition of Monday ETP 

Expirations would remove impediments 

to and perfect the mechanism of a free 

and open market by encouraging Market 

Makers to continue to deploy capital 

more efficiently and improve displayed 

market quality.20 The Exchange believes 

that the proposal will allow Participants 

to expand hedging tools and tailor their 

investment and hedging needs more 

effectively in GLD, SLV, and TLT as 

these funds are most likely to be utilized 

by market participants to hedge the 

underlying asset classes. 

Similar to Monday SPY, QQQ, and 

IWM expirations, the introduction of 

Monday ETP Expirations is consistent 

with the Act as it will, among other 

things, expand hedging tools available 

to market participants and allow for a 

reduced premium cost of buying 

portfolio protection. The Exchange 

believes that Monday ETP Expirations 

will allow market participants to 

purchase options on GLD, SLV, and TLT 

based on their timing as needed and 

allow them to tailor their investment 

and hedging needs more effectively, 

thus allowing them to better manage 

their risk exposure. Today, the 

Exchange lists Monday SPY, QQQ, and 

IWM Expirations.21

The Exchange believes the Short Term 

Option Series Program has been 

successful to date and that Monday ETP 

Expirations should simply expand the 

ability of investors to hedge risk against 

market movements stemming from 

economic releases or market events that 

occur throughout the month in the same 

way that the Short Term Option Series 

Program has expanded the landscape of 

hedging. 

There are no material differences in 

the treatment of Monday SPY, QQQ and 

IWM expirations compared to the 

proposed Monday ETP Expirations. 

Given the similarities between Monday 

SPY, QQQ and IWM expirations and the 

proposed Monday ETP Expirations, the 

Exchange believes that applying the 

provisions in Rule 19.5, Interpretation 

and Policy .05 that currently apply to 

Monday SPY, QQQ and IWM 

expirations is justified. For example, the 

Exchange believes that allowing 

Monday ETP Expirations and monthly 

Exchange Traded Product expirations in 

the same week will benefit investors 

and minimize investor confusion by 

providing Monday ETP Expirations in a 

continuous and uniform manner. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 89, No. 210 / Wednesday, October 30, 2024 / Notices 86385 

22See supra note 6. 

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 6 and accompanying text. 

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). 

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. In this regard 

and as indicated above, the Exchange 

notes that the rule change is being 

proposed as a competitive response to a 

filing submitted by Nasdaq ISE that was 

recently approved by the Commission.22

While the proposal will expand the 

Short Term Options Expirations to 

allow Monday ETP Expirations to be 

listed on the Exchange, the Exchange 

believes that this limited expansion for 

Monday expirations for options on GLD, 

SLV, and TLT will not impose an undue 

burden on competition; rather, it will 

meet customer demand. The Exchange 

believes that Participants will continue 

to be able to expand hedging tools and 

tailor their investment and hedging 

needs more effectively in GLD, SLV, and 

TLT. 

Similar to Monday SPY, QQQ and 

IWM expirations, the introduction of 

Monday ETP Expirations does not 

impose an undue burden on 

competition. The Exchange believes that 

it will, among other things, expand 

hedging tools available to market 

participants and allow for a reduced 

premium cost of buying portfolio 

protection. The Exchange believes that 

Monday ETP Expirations will allow 

market participants to purchase options 

on GLD, SLV, and TLT based on their 

timing as needed and allow them to 

tailor their investment and hedging 

needs more effectively. 

The Exchange does not believe the 

proposal will impose any burden on 

intermarket competition, as nothing 

prevents the other options exchanges 

from proposing similar rules to list and 

trade Monday ETP Expirations. Further, 

the Exchange does not believe the 

proposal will impose any burden on 

intra-market competition, as all market 

participants will be treated in the same 

manner under this proposal. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on 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 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 

pursuant to Rule 19b–4(f)(6) under the 

Act 27 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 28

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 

requested that the Commission waive 

the 30-day operative delay to permit the 

Exchange to implement the proposal at 

the same time as its competitors. The 

Exchange states that its proposal is 

substantively identical in all material 

respects to a proposal submitted by 

Nasdaq ISE that was recently approved 

by the Commission.29 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 operative delay and 

designates the proposed rule change 

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– 

MEMX–2024–41 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–MEMX–2024–41. 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–MEMX–2024–41 and should be 

submitted on or before November 20, 

2024. 


ddrumheller on DSK120RN23PROD with NOTICES1
86386 Federal Register / Vol. 89, No. 210 / Wednesday, October 30, 2024 / Notices 

31 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

3This proposal was initially filed on September 

27, 2024, as SR–MRX–2024–038. On October 9, 

2024, that filing was withdrawn and replaced with 

the instant filing to provide further clarification. 

4Every options series trades as a distinct symbol; 

the terms ‘‘series’’ and ‘‘symbol’’ are therefore 

synonyms. 

5See Securities Exchange Act Release No. 100789 

(August 21, 2024), 89 FR 68680 (August 27, 2024) 

(SR–MRX–2024–31). 

6This includes the aggregate number of ‘‘opening 

purchase transactions,’’ defined as an Exchange 

Transaction that will create or increase a long 

position in an options contract, see Options 1, 

Section 1(a)(27), and the aggregate number of 

‘‘opening writing transactions,’’ defined as an 

Exchange Transaction that will create or increase a 

short position in an options contract. See Options 

1, Section 1(a)(28). 

7The term ‘‘Priority Customer’’ means a person 

or entity that (i) is not a broker or dealer in 

securities, and (ii) does not place more than 390 

orders in listed options per day on average during 

a calendar month for its own beneficial account(s). 

See Options 1 § 1(a)(36). 

8A ‘‘Broker-Dealer’’ order is an order submitted 

by a Member for a broker-dealer account that is not 

its own proprietary account. See Options 7 § 1(c). 

9The term ‘‘Market Makers’’ refers to 

‘‘Competitive Market Makers’’ and ‘‘Primary Market 

Makers’’ collectively. See Options 1 § 1(a)(21). The 

term ‘‘Competitive Market Maker’’ means a Member 

that is approved to exercise trading privileges 

associated with CMM Rights. See Options 1 

§ 1(a)(12). The term ‘‘Primary Market Maker’’ means 

a Member that is approved to exercise trading 

privileges associated with PMM Rights. See Options 

1 Section 1(a)(35). 

10A ‘‘Firm Proprietary’’ order is an order 

submitted by a Member for its own proprietary 

account. See Options 7 Section 1(c). 

11A ‘‘Professional Customer’’ is a person or entity 

that is not a broker/dealer and is not a Priority 

Customer. See Options 7 Section 1(c). 

12This includes the aggregate number of ‘‘closing 

purchase transactions’’ in the affected series, 

defined as an Exchange Transaction that will 

reduce or eliminate a short position in an options 

contract, see Options 1, Section 1(a)(9), and the 

aggregate number of ‘‘closing writing transactions,’’ 

defined as an Exchange Transaction that will 

reduce or eliminate a long position in an options 

contract. See Options 1, Section 1(a)(10). 

13These are the same types of information 

available on PHOTO, and the other trade outline 

products offered by Nasdaq exchanges. 

14The additional fields are: First Trade Price, 

High Trade Price, Low Trade Price, Last Trade 

Price, Underlying Close, Moneyness, Total 

Exchange volume, Total Industry Volume for the 

Series, and Open Interest. 

15Subscribers will receive the first snapshot at 

9:42 a.m. ET, representing data captured from 9:30 

a.m. to 9:40 a.m., and the second calculation at 9:52 

a.m., representing data from both the most recent 

snapshot and previous snapshots, and continuing 

over the course of the trading day. The final IntraDay snapshot will be distributed at 4:15 p.m. 

16Market participants generally use historical 

files for model testing and research, and the period 

of time required by a particular market participant 

will depend on its unique testing and research 

needs as well as whether it is using End of Day or 

Intra-Day information. Some customers, for 

example, may request years of data, while others 

only months, or even a single month. The same 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–25147 Filed 10–29–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–101423; File No. SR–MRX– 

2024–40] 

Self-Regulatory Organizations; Nasdaq 

MRX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Allow Unlimited 

External Distribution of Derived Data 

From MRX Options Trade Outline 

October 23, 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 October 

9, 2024, Nasdaq MRX, LLC (‘‘MRX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) a proposed rule change 

as described in Items I, II, and III 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 allow 

unlimited external distribution of 

Derived Data from MRX Options Trade 

Outline. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/mrx/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 

The purpose of the proposed rule 

change is to allow unlimited external 

distribution of Derived Data from MRX 

Options Trade Outline for a monthly fee 

of $3,000.3

MRX Options Trade Outline 

MRX Options Trade Outline provides 

aggregate quantity and volume 

information for trades on the Exchange 

for all series 4 during a trading session.5

Information is provided on an End of 

Day, Intra-Day, and historical basis in 

the following categories: (i) total 

exchange volume for Intra-Day 

information and total exchange and 

industry volume for End of Day 

information for each reported series; (ii) 

open interest for the series; (iii) 

aggregate quantity of trades and 

aggregate trade volume effected to open 

a position,6 characterized by origin type 

(Priority Customers,7 Broker-Dealers,8

Market Makers,9 Firm Proprietary,10 and 

Professional Customers 11); and (iv) 

aggregate quantity of trades and 

aggregate trade volume effected to close 

a position,12 characterized by origin 

type (Priority Customers, BrokerDealers, Market Makers, Firm 

Proprietary, and Professional 

Customers).13

End of Day Information 

The MRX Trade Outline End of Day 

file provides opening buy, closing buy, 

opening sell and closing sell 

information, including option first trade 

price, option high trade price, option 

low trade price, and option last trade 

price. The End of Day file is updated 

during an overnight process with 

additional fields 14 and will be available 

the following morning, providing 

aggregate data for the entire trading 

session. 

Intra-Day Information 

Intra-Day information will be released 

in scheduled ‘‘snapshots’’ available 

every 10 minutes for all options series 

over the course of the trading day. These 

snapshots will be updated to reflect 

whatever activity occurred, or to 

indicate that no activity occurred.15

Historical Information 

Historical data will be available 

through ad hoc requests for information 

in both End of Day and Intra-Day 

formats for all option series traded for 

every calendar month after September 

2017, based on specific request.16


ddrumheller on DSK120RN23PROD with NOTICES1