20892 Federal Register / Vol. 87, No. 68 / Friday, April 8, 2022 / Notices 

1See Docket No. RM2018–3, Order Adopting 

Final Rules Relating to Non-Public Information, 

June 27, 2018, Attachment A at 19–22 (Order No. 

4679). 

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

2 17 CFR 240.19b–4. 

3See Exchange Rule 1.5(p). 

confidentiality agreement or a proposed 

protective order with the applicant. If 

no agreement can be reached, persons 

who desire access to this information 

may file a motion with the Secretary 

and addressed to the Commission that 

requests the issuance of a protective 

order. 

Dated: April 5, 2022. 

For the Nuclear Regulatory Commission. 

Zahira L. Cruz Perez, 

Acting Chief, Reactor Decommissioning 

Branch, Division of Decommissioning 

Uranium Recovery and Waste Programs, 

Office of Nuclear Material Safety and 

Safeguards. 

[FR Doc. 2022–07506 Filed 4–7–22; 8:45 am] 

BILLING CODE 7590–01–P 

POSTAL REGULATORY COMMISSION 

[Docket No. CP2020–11] 

New Postal Products 

AGENCY: Postal Regulatory Commission. 

ACTION: Notice. 

SUMMARY: The Commission is noticing 

recent Postal Service filings for the 

Commission’s consideration concerning 

a negotiated service agreement. This 

notice informs the public of the filings, 

invites public comment, and takes other 

administrative steps. 

DATES: Comments are due: April 12, 

2022. 

ADDRESSES: Submit comments 

electronically via the Commission’s 

Filing Online system at http://

www.prc.gov. Those who cannot submit 

comments electronically should contact 

the person identified in the FOR FURTHER

INFORMATION CONTACT section by 

telephone for advice on filing 

alternatives. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6820. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Introduction 

II. Docketed Proceeding(s) 

I. Introduction 

The Commission gives notice that the 

Postal Service filed request(s) for the 

Commission to consider matters related 

to negotiated service agreement(s). The 

request(s) may propose the addition or 

removal of a negotiated service 

agreement from the market dominant or 

the competitive product list, or the 

modification of an existing product 

currently appearing on the market 

dominant or the competitive product 

list. 

Section II identifies the docket 

number(s) associated with each Postal 

Service request, the title of each Postal 

Service request, the request’s acceptance 

date, and the authority cited by the 

Postal Service for each request. For each 

request, the Commission appoints an 

officer of the Commission to represent 

the interests of the general public in the 

proceeding, pursuant to 39 U.S.C. 505 

(Public Representative). Section II also 

establishes comment deadline(s) 

pertaining to each request. 

The public portions of the Postal 

Service’s request(s) can be accessed via 

the Commission’s website (http://

www.prc.gov). Non-public portions of 

the Postal Service’s request(s), if any, 

can be accessed through compliance 

with the requirements of 39 CFR 

3011.301.1

The Commission invites comments on 

whether the Postal Service’s request(s) 

in the captioned docket(s) are consistent 

with the policies of title 39. For 

request(s) that the Postal Service states 

concern market dominant product(s), 

applicable statutory and regulatory 

requirements include 39 U.S.C. 3622, 39 

U.S.C. 3642, 39 CFR part 3030, and 39 

CFR part 3040, subpart B. For request(s) 

that the Postal Service states concern 

competitive product(s), applicable 

statutory and regulatory requirements 

include 39 U.S.C. 3632, 39 U.S.C. 3633, 

39 U.S.C. 3642, 39 CFR part 3035, and 

39 CFR part 3040, subpart B. Comment 

deadline(s) for each request appear in 

section II. 

II. Docketed Proceeding(s) 

1. Docket No(s).: CP2020–11; Filing 

Title: USPS Notice of Amendment to 

Priority Mail & First-Class Package 

Service Contract 124, Filed Under Seal; 

Filing Acceptance Date: April 4, 2022; 

Filing Authority: 39 CFR 3035.105; 

Public Representative: Katalin K. 

Clendenin; Comments Due: April 12, 

2022. 

This Notice will be published in the 

Federal Register. 

Erica A. Barker, 

Secretary. 

[FR Doc. 2022–07544 Filed 4–7–22; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94590; File No. SR–MEMX– 

2022–06] 

Self-Regulatory Organizations; MEMX 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend the Exchange’s Fee 

Schedule Concerning Volume 

Calculations for Transaction Pricing 

Tiers 

April 4, 2022. 

Pursuant to 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 March 31, 

2022, MEMX LLC (‘‘MEMX’’ or the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (the 

‘‘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 is filing with the 

Commission a proposed rule change to 

amend the Exchange’s fee schedule 

applicable to Members 3 (the ‘‘Fee 

Schedule’’) pursuant to Exchange Rules 

15.1(a) and (c). The Exchange proposes 

to implement the changes to the Fee 

Schedule pursuant to this proposal on 

April 1, 2022. 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. 


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Federal Register / Vol. 87, No. 68 / Friday, April 8, 2022 / Notices 20893 

4As set forth on the Fee Schedule, ‘‘ADAV’’ 

means average daily added volume calculated as 

the number of shares added per day, which is 

calculated on a monthly basis. 5As set forth on the Fee Schedule, ‘‘ADV’’ means 

average daily volume calculated as the number of 

shares added or removed, combined, per day, 

which is calculated on a monthly basis. 6As set forth on the Fee Schedule, ‘‘TCV’’ means 

total consolidated volume calculated as the volume 

reported by all exchanges and trade reporting 

facilities to a consolidated transaction reporting 

plan for the month for which the fees apply. 

7See Securities Exchange Act Release No. 92150 

(June 10, 2021), 86 FR 32090, 32092 (June 16, 2021) 

(SR–MEMX–2021–07). 

8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(b)(4) and (5). 

10 15 U.S.C. 78f(b)(4) and (5). 

11 15 U.S.C. 78s(b)(3)(A)(ii). 

12 17 CFR 240.19b–4(f)(2). 

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 amend the Fee Schedule to 

exclude any days that the MSCI Equity 

Indexes and the S&P 400, S&P 500, and 

S&P 600 Indexes are rebalanced from 

the volume calculations used by the 

Exchange for purposes of determining a 

Member’s qualification for the 

Exchange’s transaction pricing tiers/ 

incentives. Currently, the Exchange’s 

Fee Schedule includes a note stating 

that the Exchange excludes from its 

calculations of ADAV,4 ADV 5 and 

TCV,6 and for purposes of determining 

qualification for the Displayed Liquidity 

Incentive: (1) Any trading day that the 

Exchange’s system experiences a 

disruption that lasts for more than 60 

minutes during regular trading hours; 

and (2) the day that Russell Investments 

reconstitutes its family of indexes (i.e., 

the last Friday in June). Now, the 

Exchange proposes to include in this list 

of days excluded from such calculations 

any day that the MSCI Equities Indexes 

are rebalanced (‘‘MSCI Rebalance Day’’), 

which occur on a quarterly basis each 

year, and any day that the S&P 400, S&P 

500, and S&P 600 Indexes are 

rebalanced (‘‘S&P Rebalance Day’’), 

which also occur on a quarterly basis 

each year. 

For the same reasons that the 

Exchange currently excludes the day 

that Russell Investments reconstitutes 

its family of indexes (‘‘Russell 

Reconstitution Day’’) from these 

calculations,7 the Exchange believes it is 

appropriate to exclude MSCI Rebalance 

Days and S&P Rebalance Days from 

these calculations in the same manner, 

as such days typically have 

extraordinarily high and/or abnormally 

distributed trading volumes, which the 

Exchange believes is attributed to 

market participants who are not 

generally as active entering the market 

to rebalance their holdings in-line with 

these rebalances, and the Exchange 

believes this change to normal activity 

may affect a Member’s ability to meet 

the applicable volume thresholds under 

its volume-based tiers, as well as the 

daily quoting requirements under the 

Displayed Liquidity Incentive. The 

Exchange notes that the proposed 

exclusion of MSCI Rebalance Days and 

S&P Rebalance Days from the relevant 

calculations would be applied in the 

same manner that the Exchange 

currently excludes system disruption 

days and the Russell Reconstitution Day 

from such calculations. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,8

in general, and with Sections 6(b)(4) and 

6(b)(5) of the Act,9 in particular, in that 

it provides for the equitable allocation 

of reasonable dues, fees and other 

charges among its Members and other 

persons using its facilities and is not 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. 

The Exchange believes that the 

proposed rule change is reasonable and 

appropriate because, as described above, 

MSCI Rebalance Days and S&P 

Rebalance Days typically have 

extraordinarily high and/or abnormally 

distributed trading volumes which, in 

turn, may affect a Member’s ability to 

meet the applicable volume thresholds 

and/or daily quoting requirements 

under its transaction pricing tiers/ 

incentives, and the Exchange believes 

that excluding such days from the 

relevant calculations for purposes of 

determining a Member’s qualification 

for such tiers/incentives would help to 

avoid penalizing Members that might 

otherwise have met the requirements to 

qualify for such tiers/incentives due to 

abnormal market conditions. 

Additionally, the Exchange believes that 

the proposed rule change is equitable 

and not unfairly discriminatory because 

it will apply to all Members uniformly, 

in that each Member’s volume and 

quoting activities for purposes of pricing 

tiers/incentives would continue to be 

calculated in a uniform manner and 

would now exclude MSCI Rebalance 

Days and S&P Rebalance Days. 

For the reasons discussed above, the 

Exchange submits that the proposal 

satisfies the requirements of Sections 

6(b)(4) and 6(b)(5) of the Act 10 in that 

it provides for the equitable allocation 

of reasonable dues, fees and other 

charges among its Members and other 

persons using its facilities and is not 

designed to unfairly discriminate 

between customers, issuers, brokers, or 

dealers. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposal will result in any burden 

on competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. Rather, as 

described above, the proposed change is 

intended to avoid penalizing Members 

that might otherwise have met the 

applicable volume thresholds and/or 

quoting requirements to qualify for the 

Exchange’s transaction pricing tiers/ 

incentives due to the abnormal trading 

volumes and market conditions 

typically experienced in the equities 

markets on MSCI Rebalance Days and 

S&P Rebalance Days. The Exchange 

does not believe the proposal would 

impose any burden on intermarket 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act, as the Exchange 

believes the proposal is not concerned 

with competitive issues, but rather 

relates to calculation methodologies 

applicable to its pricing tiers/incentives. 

Additionally, the Exchange believes the 

proposal would not impose any burden 

on intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act because, as 

described above, the proposed exclusion 

of MSCI Rebalance Days and S&P 

Rebalance Days from the relevant 

calculations will apply to all Members 

uniformly and in the same manner that 

the Exchange currently excludes system 

disruption days and the Russell 

Reconstitution Day from such 

calculations. 

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 foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 11 and Rule 

19b–4(f)(2) 12 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 


jspears on DSK121TN23PROD with NOTICES1
20894 Federal Register / Vol. 87, No. 68 / Friday, April 8, 2022 / Notices 

13 17 CFR 200.30–3(a)(12). 

1Natixis ETF Trust II, et al., Investment Company 

Act Rel. Nos. 33684 (November 14, 2019) (notice) 

and 33711 (December 10, 2019) (order). 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

MEMX–2022–06 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–2022–06. 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–MEMX–2022–06 and 

should be submitted on or before April 

29, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–07467 Filed 4–7–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release No. 

34554; File No. 812–15294] 

IndexIQ Active ETF Trust and IndexIQ 

Advisors LLC 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’). 

ACTION: Notice. 

Notice of an application under section 

6(c) of the Investment Company Act of 

1940 (the ‘‘Act’’) for an exemption from 

sections 2(a)(32), 5(a)(1), 22(d) and 22(e) 

of the Act and rule 22c–1 under the Act 

and under sections 6(c) and 17(b) of the 

Act for an exemption from sections 

17(a)(1) and 17(a)(2) of the Act. 

Summary of Application: Applicants 

request an order (‘‘Order’’) that permits: 

(a) The Funds (as defined below) to 

issue shares (‘‘Shares’’) redeemable in 

large aggregations only (‘‘creation 

units’’); (b) secondary market 

transactions in Shares to occur at 

negotiated market prices rather than at 

net asset value; (c) certain Funds to pay 

redemption proceeds, under certain 

circumstances, more than seven days 

after the tender of Shares for 

redemption; and (d) certain affiliated 

persons of a Fund to deposit securities 

into, and receive securities from, the 

Fund in connection with the purchase 

and redemption of creation units. The 

relief in the Order would incorporate by 

reference terms and conditions of the 

same relief of a previous order granting 

the same relief sought by applicants, as 

that order may be amended from time to 

time (‘‘Reference Order’’).1

Applicants: IndexIQ Active ETF Trust 

and IndexIQ Advisors LLC. 

Filing Dates: The application was 

filed on December 29, 2021, and 

amended on March 14, 2022. 

Hearing or Notification of Hearing: An 

order granting the requested relief will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing on any application by 

emailing the Commission’s Secretary at 

Secretarys-Office@sec.gov and serving 

applicants with a copy of the request by 

email, if an email address is listed for 

the relevant applicant below, or 

personally or by mail, if a physical 

address is listed for the relevant 

applicant below. Hearing requests 

should be received by the Commission 

by 5:30 p.m. on April 28, 2022, and 

should be accompanied by proof of 

service on applicants, in the form of an 

affidavit or, for lawyers, a certificate of 

service. Pursuant to rule 0–5 under the 

Act, hearing requests should state the 

nature of the writer’s interest, any facts 

bearing upon the desirability of a 

hearing on the matter, the reason for the 

request, and the issues contested. 

Persons who wish to be notified of a 

hearing may request notification by 

emailing the Commission’s Secretary. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

Matthew Curtin, IndexIQ Advisors LLC, 

mcurtin@indexiq.com; Barry Pershkow, 

ESQ, Chapman & Cutler, pershkow@

chapman.com. 

FOR FURTHER INFORMATION CONTACT: 

Bruce R. MacNeil, Senior Counsel, or 

Kaitlin C. Bottock, Branch Chief, at 

(202) 551–6825 (Chief Counsel’s Office, 

Division of Investment Management). 

SUPPLEMENTARY INFORMATION: For 

Applicants’ representations, legal 

analysis, and conditions, please refer to 

Applicants’ amended and restated 

application, dated March 14, 2022, 

which may be obtained via the 

Commission’s website by searching for 

the file number at the top of this 

document, or for an Applicant using the 

Company name search field, on the 

SEC’s EDGAR system. The SEC’s 

EDGAR system may be searched at 

https://www.sec.gov/edgar/searchedgar/ 

legacy/companysearch.html. You may 

also call the SEC’s Public Reference 

Room at (202) 551–8090. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

Dated: April 4, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–07518 Filed 4–7–22; 8:45 am] 

BILLING CODE 8011–01–P 


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