11108 Federal Register / Vol. 87, No. 39 / Monday, February 28, 2022 / Notices 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

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. 

12 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

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 10 and Rule 19b–4(f)(6) 11

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 will 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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSE–2022–09 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–NYSE–2022–09. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSE–2022–09 and should 

be submitted on or before March 21, 

2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2022–04083 Filed 2–25–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94293; File No. SR–Phlx– 

2022–07] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Strategy Caps 

for Reversal and Conversion and Jelly 

Roll Strategies 

February 22, 2022. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that, on February 

9, 2022, Nasdaq PHLX LLC (‘‘Phlx’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the 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 amend 

Phlx’s Pricing Schedule at Options 7, 

Section 4, ‘‘Multiply Listed Options 

Fees (Includes options overlying 

equities, ETFs, ETNs and indexes which 

are Multiply Listed) (Excludes SPY).’’ 

The Exchange originally filed the 

proposed pricing changes on February 

1, 2022 (SR–PHLX–2022–06). On 

February 9, 2022, the Exchange 

withdrew that filing and submitted this 

filing. 

The text of the proposed rule change 

is available on the Exchange’s website at 

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 its pricing 

within Options 7, Section 4, ‘‘Multiply 

Listed Options Fees (Includes options 

overlying equities, ETFs, ETNs and 

indexes which are Multiply Listed) 

(Excludes SPY).’’ Specifically, Phlx 

proposes to amend the daily strategy 


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Federal Register / Vol. 87, No. 39 / Monday, February 28, 2022 / Notices 11109 

4 Reversal and conversion strategies are 

transactions that employ calls and puts of the same 

strike price and the underlying stock. Reversals are 

established by combining a short stock position 

with a short put and a long call position that shares 

the same strike and expiration. Conversions employ 

long positions in the underlying stock that 

accompany long puts and short calls sharing the 

same strike and expiration. See Options 7, Section 

4. 

5 A jelly roll strategy is defined as transactions 

created by entering into two separate positions 

simultaneously. One position involves buying a put 

and selling a call with the same strike price and 

expiration. The second position involves selling a 

put and buying a call, with the same strike price, 

but with a different expiration from the first 

position. See Options 7, Section 4. 

6 See Phlx’s Pricing Schedule at Options 7, 

Section 4. A Floor Qualified Contingent Cross Order 

is comprised of an originating order to buy or sell 

at least 1,000 contracts that is identified as being 

part of a qualified contingent trade coupled with a 

contra-side order or orders totaling an equal number 

of contracts. The term ‘‘qualified contingent trade’’ 

shall have the same meaning set forth in Options 

3, Section 12(a)(3). See Options 8, Section 30(e). 

7 A dividend strategy is defined as transactions 

done to achieve a dividend arbitrage involving the 

purchase, sale and exercise of in-the-money options 

of the same class, executed the first business day 

prior to the date on which the underlying stock goes 

ex-dividend. See Options 7, Section 4. 

8 A merger strategy is defined as transactions 

done to achieve a merger arbitrage involving the 

purchase, sale and exercise of options of the same 

class and expiration date, executed the first 

business day prior to the date on which 

shareholders of record are required to elect their 

respective form of consideration, i.e., cash or stock. 

See Options 7, Section 4. 

9 A short stock interest strategy is defined as 

transactions done to achieve a short stock interest 

arbitrage involving the purchase, sale and exercise 

of in-the-money options of the same class. See 

Options 7, Section 4. 

10 A box spread strategy is a strategy that 

synthesizes long and short stock positions to create 

a profit. Specifically, a long call and short put at 

one strike is combined with a short call and long 

put at a different strike to create synthetic long and 

synthetic short stock positions, respectively. See 

Options 7, Section 4. 

11 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘‘Lead Market 

Maker’’ applies to transactions for the account of a 

Lead Market Maker (as defined in Options 2, 

Section 12(a)). A Lead Market Maker is an Exchange 

member who is registered as an options Lead 

Market Maker pursuant to Options 2, Section 12(a). 

An options Lead Market Maker includes a Remote 

Lead Market Maker which is defined as an options 

Lead Market Maker in one or more classes that does 

not have a physical presence on an Exchange floor 

and is approved by the Exchange pursuant to 

Options 2, Section 11.’’ 

12 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘‘Market Maker’’ 

is defined in Options 1, Section 1(b)(28) as a 

member of the Exchange who is registered as an 

options Market Maker pursuant to Options 2, 

Section 12(a). A Market Maker includes SQTs and 

RSQTs as well as on and Floor Market Makers.’’ 

13 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘‘Professional’’ 

applies to transactions for the accounts of 

Professionals, as defined in Options 1, Section 

1(b)(45) means any person or entity that (i) is not 

a broker or dealer in securities, and (ii) places more 

than 390 orders in listed options per day on average 

during a calendar month for its own beneficial 

account(s).’’ 

14 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘‘Firm’’ applies 

to any transaction that is identified by a member or 

member organization for clearing in the Firm range 

at OCC.’’ 

15 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘‘Broker-Dealer’’ 

applies to any transaction which is not subject to 

any of the other transaction fees applicable within 

a particular category.’’ 

16 For example, if a Lead Market Maker executed 

reversal and conversion strategies only in AAPL 

options, and otherwise met the qualifications for a 

reversal and conversion cap, the proposed $700 

daily cap would apply. If the Lead Market Maker 

executed reversal and conversion strategies in 

AAPL and SPY options, and otherwise met the 

qualifications for a reversal and conversion cap, the 

proposed $1,000 daily cap would apply. 

17 If transacted on an agency basis, the daily cap 

applies per beneficial account. 

cap for reversal and conversion 4 and 

jelly roll 5 strategies. 

Today, to qualify for a strategy cap, 

the buy and sell side of a transaction 

must originate either from the Exchange 

Trading Floor or as a Floor Qualified 

Contingent Cross Order.6 Currently, the 

Exchange offers the following strategy 

caps: 

Floor options transactions— 

multiply listed options Strategy Qualification Daily/monthly cap 

Lead Market Maker, Market 

Maker, Professional, Firm 

and Broker-Dealer.

dividend .................................. executed on the same trading day in the 

same class of options when such members 

are trading: (1) In their own proprietary accounts; or (2) on an agency basis. If transacted on an agency basis, the daily cap 

will apply per beneficial account..

$1,100 (daily). 

Lead Market Maker, Market 

Maker, Professional, Firm 

and Broker-Dealer.

reversal and conversion, 

merger, short stock interest, 

jelly roll, and box spread 

strategies.

executed on the same trading day for all 

classes of options in the aggregate when 

such members are trading (1) in their own 

proprietary accounts; or (2) on an agency 

basis. If transacted on an agency basis, 

the daily cap will apply per beneficial account..

$1,000 (daily) if more than 

one class of options, $700 

(daily) if only in a single 

class of options. 

Per member organization ......... dividend, merger, short stock 

interest, reversal and conversion, jelly roll and box 

spread strategies (‘‘Monthly 

Strategy Cap’’).

combined executions in a month when trading in its own proprietary accounts.$65,000 (monthly). 

The Exchange offers strategy caps for 

various types of strategies, including 

dividend,7 merger,8 short stock 

interest,9 reversal and conversion, jelly 

roll, and box spread 10 strategies. Of 

note, NDX, NDXP, and XND Options 

Transactions are excluded from strategy 

cap pricing. 

Specifically, today, the Exchange 

offers a reversal and conversion, merger, 

short stock interest, jelly roll and box 

spread strategy cap, which is applicable 

to Lead Market Makers,11 Market 

Makers,12 Professionals,13 Firms 14 and 

Broker-Dealers,15 of $1,000 (daily) if 

more than one class of options, and 

$700 (daily) if only in a single class of 

options.16 The aforementioned strategy 

cap applies to reversal and conversion, 

merger, short stock interest, jelly roll 

and box spread strategies executed on 

the same trading day for all classes of 

options in the aggregate when such 

members are trading (1) in their own 

proprietary accounts; or (2) on an 

agency basis.17

The Exchange is proposing to lower 

the daily strategy cap for Lead Market 

Makers, Market Makers, Professionals, 

Firms and Broker-Dealers who execute 

reversal and conversion and jelly roll 

strategies on the same trading day. The 

Exchange proposes to cap reversal and 

conversion and jelly roll strategies for 

all classes of options in the aggregate 

when such members are trading (1) in 

their own proprietary accounts; or (2) on 

an agency basis at $200 daily. As is the 

case today, if transacted on an agency 


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11110 Federal Register / Vol. 87, No. 39 / Monday, February 28, 2022 / Notices 

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

19 15 U.S.C. 78f(b)(4) and (5). 

20 Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005) 

(‘‘Regulation NMS Adopting Release’’). 

21 NetCoalition v. SEC, 615 F.3d 525 (D.C. Cir. 

2010). 

22 See NetCoalition, at 534–535. 

23 Id. at 537. 

24 Id. at 539 (quoting Securities Exchange Act 

Release No. 59039 (December 2, 2008), 73 FR 

74770, 74782–83 (December 9, 2008) (SR– 

NYSEArca–2006–21)). 

25 NYSE Arca and NYSE American applies a 

strategy cap of $200 on transactions fees for 

qualifying strategies traded on the same trading day 

for those ATP Holders that trade at least 25,000 

monthly billable contract sides in qualifying 

Strategy Executions. The strategies include: (a) 

Reversals and conversions, (b) box spreads, (c) short 

stock interest spreads, (d) merger spreads, and (e) 

jelly rolls. 

26 As provided in the Pricing Schedule within 

Options 7, Section 1(c), ‘‘The term ‘Customer’ 

applies to any transaction that is identified by a 

member or member organization for clearing in the 

Customer range at The Options Clearing 

Corporation (‘OCC’) which is not for the account of 

a broker or dealer or for the account of a 

‘Professional’ (as that term is defined in Options 1, 

Section 1(b)(45)).’’ 

basis, the daily strategy cap would 

apply per beneficial account. The 

Exchange would not amend the current 

strategy caps for merger, short stock 

interest, and box spread strategies. The 

qualifications for the reversal and 

conversion and jelly roll strategy cap 

remains the same. Finally, the proposed 

daily strategy cap continues to apply to 

executions for all classes of options. 

The Exchange believes that its 

proposal will incentivize members to 

transact a greater number of reversal and 

conversion and jelly roll strategies 

because the strategy cap would be 

lowered from $1,000/$700 daily 

(depending on the class of options) to 

$200 daily. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,18 in general, and furthers the 

objectives of Sections 6(b)(4) and 6(b)(5) 

of the Act,19 in particular, in that it 

provides for the equitable allocation of 

reasonable dues, fees and other charges 

among members and issuers and other 

persons using any facility, and is not 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. 

The Commission and the courts have 

repeatedly expressed their preference 

for competition over regulatory 

intervention in determining prices, 

products, and services in the securities 

markets. In Regulation NMS, while 

adopting a series of steps to improve the 

current market model, the Commission 

highlighted the importance of market 

forces in determining prices and SRO 

revenues and, also, recognized that 

current regulation of the market system 

‘‘has been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 20

Likewise, in NetCoalition v. Securities 

and Exchange Commission 21

(‘‘NetCoalition’’) the D.C. Circuit upheld 

the Commission’s use of a market-based 

approach in evaluating the fairness of 

market data fees against a challenge 

claiming that Congress mandated a costbased approach.22 As the court 

emphasized, the Commission ‘‘intended 

in Regulation NMS that ‘market forces, 

rather than regulatory requirements’ 

play a role in determining the market 

data . . . to be made available to 

investors and at what cost.’’ 23

Further, ‘‘[n]o one disputes that 

competition for order flow is ‘fierce.’ 

. . . As the SEC explained, ‘[i]n the U.S. 

national market system, buyers and 

sellers of securities, and the brokerdealers that act as their order-routing 

agents, have a wide range of choices of 

where to route orders for execution’; 

[and] ‘no exchange can afford to take its 

market share percentages for granted’ 

because ‘no exchange possesses a 

monopoly, regulatory or otherwise, in 

the execution of order flow from broker 

dealers’ . . ..’’ 24 Although the court and 

the SEC were discussing the cash 

equities markets, the Exchange believes 

that these views apply with equal force 

to the options markets. 

The Exchange’s proposal to decrease 

the reversal and conversion and jelly 

roll strategy cap applicable to Lead 

Market Makers, Market Makers, 

Professionals, Firms and Broker-Dealers 

from $1,000/$700 daily (depending on 

the class of options) to $200 daily, with 

the same qualifications as today, is 

reasonable because it will incentivize 

Lead Market Makers, Market Makers, 

Professionals, Firms and Broker-Dealers 

to execute a greater number of reversal 

and conversion and jelly roll strategies 

for the opportunity to qualify for the 

lower daily strategy cap. Strategy fee 

caps defray brokerage costs associated 

with executing strategy transactions. 

Today, NYSE Arca, Inc. (‘‘NYSE 

Arca’’) and NYSE American LLC 

(‘‘NYSE American’’) cap certain strategy 

fees as low as $200.25 The Exchange 

believes that lowering the reversal and 

conversion and jelly roll strategy cap 

from $1,000/$700 daily (depending on 

the class of options) to $200 daily will 

allow the Exchange to more effectively 

compete with other options exchanges 

who offer lower strategy caps for these 

two particular strategies. The Exchange 

notes that reversal and conversion and 

jelly roll strategies are popular strategies 

that may be transacted by any Phlx 

member or member organization. To the 

extent that the proposed change attracts 

more reversal and conversion and jelly 

roll strategy executions to the Exchange, 

this increased (open outcry) order flow 

would continue to make the Exchange a 

more competitive venue for order 

execution. To the extent the proposed 

change continues to attract greater 

volume and liquidity, the Exchange 

believes the proposed change would 

improve the Exchange’s overall 

competitiveness and strengthen its 

market quality for all market 

participants. In the backdrop of the 

competitive environment in which the 

Exchange operates, the proposed rule 

change is a reasonable attempt by the 

Exchange to effectively compete for 

strategy trades. Finally, the Exchange 

cannot predict with certainty whether 

any, or how many, Phlx members and 

member organizations would avail 

themselves of this proposed fee change. 

The Exchange believes that Phlx 

members and member organizations that 

execute reversal and conversion and 

jelly roll strategies on the Exchange can 

achieve the proposed daily cap of $200 

and that this proposal may encourage 

Phlx members and member 

organizations to execute reversal and 

conversion and jelly roll strategies on 

the Exchange. 

The Exchange’s proposal to decrease 

the reversal and conversion and jelly 

roll strategy cap applicable to Lead 

Market Makers, Market Makers, 

Professionals, Firms and Broker-Dealers 

from $1,000/$700 daily (depending on 

the class of options) to $200 daily, with 

the same qualifications as today, is 

equitable and not unfairly 

discriminatory because all Lead Market 

Makers, Market Makers, Professionals, 

Firms and Broker-Dealers may qualify 

for the reversal and conversion and jelly 

roll strategy cap provided those 

strategies are executed on the same 

trading day for all classes of options in 

the aggregate when such members are 

trading either in their own proprietary 

accounts or on an agency basis. While 

Customers 26 are not offered strategy 

caps, Customers are not assessed 

Options Transaction Charges within 

Options 7, Section 4. 

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 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 39 / Monday, February 28, 2022 / Notices 11111 

27 15 U.S.C. 78s(b)(3)(A)(ii). 28 17 CFR 200.30–3(a)(12). 

necessary or appropriate in furtherance 

of the purposes of the Act. 

Inter-Market Competition 

The proposal does not impose an 

undue burden on inter-market 

competition. The Exchange believes its 

proposal remains competitive with 

other options markets and will offer 

market participants with another choice 

of where to transact options. The 

Exchange notes that it operates in a 

highly competitive market in which 

market participants can readily favor 

competing venues if they deem fee 

levels at a particular venue to be 

excessive, or rebate opportunities 

available at other venues to be more 

favorable. In such an environment, the 

Exchange must continually adjust its 

fees to remain competitive with other 

exchanges that have been exempted 

from compliance with the statutory 

standards applicable to exchanges. 

Because competitors are free to modify 

their own fees in response, and because 

market participants may readily adjust 

their order routing practices, the 

Exchange believes that the degree to 

which fee changes in this market may 

impose any burden on competition is 

extremely limited. 

Moreover, the proposal is designed to 

encourage Phlx members and member 

organizations to execute reversal and 

conversion and jelly roll strategies on 

the Exchange as a primary execution 

venue. To the extent that the proposed 

change attracts more reversal and 

conversion and jelly roll strategies to the 

Exchange, this increased order flow 

would continue to make the Exchange a 

more competitive venue for order 

execution. 

Intra-Market Competition 

The proposed amendments do not 

impose an undue burden on intramarket competition. 

The Exchange’s proposal to decrease 

the reversal and conversion and jelly 

roll strategy cap applicable to Lead 

Market Makers, Market Makers, 

Professionals, Firms and Broker-Dealers 

from $1,000/$700 daily (depending on 

the class of options) to $200 daily, with 

the same qualifications as today, does 

not impose an undue burden on 

competition because all Lead Market 

Makers, Market Makers, Professionals, 

Firms and Broker-Dealers may qualify 

for the reversal and conversion and jelly 

roll strategy cap provided those 

strategies are executed on the same 

trading day for all classes of options in 

the aggregate when such members are 

trading either in their own proprietary 

accounts or on an agency basis. While 

Customers are not offered strategy caps, 

Customers are not assessed Options 

Transaction Charges within Options 7, 

Section 4. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act.27

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) 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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

Phlx–2022–07 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–2022–07. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–Phlx–2022–07, and should 

be submitted on or before March 21, 

2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2022–04079 Filed 2–25–22; 8:45 am] 

BILLING CODE 8011–01–P 

SOCIAL SECURITY ADMINISTRATION 

[Docket No: SSA–2022–0009] 

Agency Information Collection 

Activities: New Emergency Request 

The Social Security Administration 

(SSA) publishes a list of information 

collection packages requiring clearance 

by the Office of Management and 

Budget (OMB) in compliance with 

Public Law 104–13, the Paperwork 

Reduction Act of 1995, effective October 

1, 1995. This notice includes a new, 

emergency information collection. 

SSA is asking OMB for approval of 

this information collection fourteen 

days after the date of publication of this 

Federal Register Notice, independent of 

public comment, due to its emergency 

nature. However, we still welcome 

comment on the accuracy of the 

agency’s burden estimate; the need for 

the information; its practical utility; 

ways to enhance its quality, utility, and 

clarity; and ways to minimize burden on 

respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

We will consider any comments when 


khammond on DSKJM1Z7X2PROD with NOTICES