Federal Register / Vol. 90, No. 18 / Wednesday, January 29, 2025 / Notices 8411 

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

4 17 CFR 240.19b–4(f)(6). 

5 15 U.S.C. 78s(b)(3)(A). 

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

4(f)(6)(iii) requires the Exchange 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. 

7 17 CFR 240.19b–4(f)(6). 

8 17 CFR 240.19b–4(f)(6)(iii). 

9For purposes only of waiving the 30-day 

operative delay, the Commission also has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 10Copies 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. 

11 17 CFR 200.30–3(a)(12) and (59). 

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(f). 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 

Continued 

I. Self-Regulatory Organization’s

Statement of the Terms of Substance of

the Proposed Rule Change

The Exchange proposes to amend 

Rule 19.6 (Series of Options Contracts 

Open for Trading) to harmonize the 

equity options listing rules of the 

Exchange in regard to the listing of 

options series with $1 strike prices with 

the equity options listing rules of its 

affiliated exchange, Cboe Exchange, Inc. 

(‘‘Cboe Options’’). The text of the 

proposed rule change is provided in 

Exhibit 5. 

The text of the proposed rule change 

is available on the Exchange’s website 

(http://markets.cboe.com/us/equities/ 

regulation/rule_filings/edgx/), at the 

Exchange’s Office of the Secretary, and 

on the Commission’s website at https:// 

www.sec.gov/rules-regulations/selfregulatory-organization-rulemaking/ 

national-securities-exchanges?file_

number=SR-CBOEEDGX-2025-003. 

II. 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) of the Act 3 and Rule 19b– 

4(f)(6) 4 thereunder. 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; or (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 5 and Rule 19b– 

4(f)(6) 6 thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 7 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),8 the Commission 

may designate a shorter time if such 

action is consistent with protection of 

investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposed rule change may become 

operative immediately upon filing. The 

Commission believes that waiving the 

30-day operative delay is consistent

with the protection of investors and the

public interest because it will allow the

Exchange to immediately amend its

rules relating to the listing of options

series with $1 strike prices, thus

harmonizing the Exchange’s rules with

those of Cboe Options and other options

exchanges, and does not introduce any

novel regulatory issues. Accordingly,

the Commission designates the

proposed rule change to be operative

upon filing.9

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. 

III. 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.10

Comments may be submitted 

electronically by using the 

Commission’s internet comment form 

(https://www.sec.gov/rules-regulations/ 

self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SRCBOEEDGX-2025-003) or by sending an 

email to rule-comments@sec.gov. Please 

include file number SR–CboeEDGX– 

2025–003 on the subject line. 

Alternatively, paper comments may be 

sent to Secretary, Securities and 

Exchange Commission, 100 F Street NE, 

Washington, DC 20549–1090. All 

submissions should refer to file number 

SR–CboeEDGX–2025–003. 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-regulations/self-regulatoryorganization-rulemaking/nationalsecurities-exchanges?file_number=SRCBOEEDGX-2025-003). 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–CboeEDGX–2025–003 

and should be submitted on or before 

February 19, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01854 Filed 1–28–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102264; File No. SR–MIAX– 

2025–01] 

Self-Regulatory Organizations; Miami 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend the By-Laws 

January 23, 2025. 

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 January 

10, 2025, Miami International Securities 

Exchange, LLC (‘‘MIAX’’ or the 

‘‘Company’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Item I below, 

which Item has been substantially 

prepared by MIAX. MIAX has 

designated this proposal for immediate 

effectiveness pursuant to Section 

19(b)(3)(A) of the Act 3 and Rule 19b– 

4(f) thereunder.4 The Commission is 


khammond on DSK9W7S144PROD with NOTICES
8412 Federal Register / Vol. 90, No. 18 / Wednesday, January 29, 2025 / Notices 

Commission will institute proceedings to determine 

whether the proposed rule change should be 

approved or disapproved. 

5The terms ‘‘Board’’ or ‘‘Board of Directors’’ 

means the Board of Directors of the Company. See 

By-Laws, Article I, Definitions, subparagraph (c). 

6The term ‘‘LLC Member’’ means any person who 

maintains a direct ownership interest in the 

Company. The sole LLC Member of the Company 

is Miami International Holdings, Inc. See By-Laws, 

Article I, Definitions, subparagraph (x). 

7See By-Laws, Article VIII, Section 8.1. 

8Copies 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 

MIAX. 

9 17 CFR 200.30–3(a)(12). 

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(f). 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. 

5The terms ‘‘Board’’ or ‘‘Board of Directors’’ 

means the Board of Directors of the Company. See 

By-Laws, Article I, Definitions, subparagraph (c). 

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 Company proposes to amend the 

By-Laws to: (1) eliminate the 

requirement to maintain a 

Compensation Committee of the Board 

of Directors (‘‘Board’’) 5 of MIAX; (2) 

update the process by which the 

Regulatory Oversight Committee 

(‘‘ROC’’) determines the compensation 

of the Chief Regulatory Officer (‘‘CRO’’); 

(3) update the process by which the 

ROC determines personnel actions 

involving the CRO and senior regulatory 

personnel; (4) eliminate the requirement 

to maintain a Quality of Markets 

Committee of the Board of MIAX; (5) 

update the process by which the 

compensation of all officers, employees 

and agents of MIAX is determined, with 

an exception for the compensation of 

the CRO; and (6) make non-substantive 

clarifying changes to remove outdated 

text regarding the ERP Member’s 

(defined below) [stet] nominee to the 

Board and delete the definition of 

‘‘Effective Date’’ (collectively, the ‘‘ByLaw Amendments’’). 

The By-Laws of the Company may be 

amended by written consent of the LLC 

Member 6 or at any regular or special 

meeting of the Board of MIAX Sapphire 

[stet] by a resolution adopted by the 

Board.7

The proposed rule change, including 

MIAX’s statement of the purpose of, and 

statutory basis for, the proposed rule 

change, is available on MIAX’s website 

at https://www.miaxglobal.com/ 

markets/us-options/all-optionsexchanges/rule-filings and on the 

Commission’s website at https://

www.sec.gov/rules-regulations/selfregulatory-organization-rulemaking/ 

national-securities-exchanges?file_

number=SR-MIAX-2025-01. 

II. 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.8

Comments may be submitted 

electronically by using the 

Commission’s internet comment form 

(https://www.sec.gov/rules-regulations/ 

self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-MIAX-2025- 

01) or by sending an email to rulecomments@sec.gov. Please include file 

number SR–MIAX–2025–01 on the 

subject line. Alternatively, paper 

comments may be sent to Secretary, 

Securities and Exchange Commission, 

100 F Street NE, Washington, DC 

20549–1090. All submissions should 

refer to file number SR–MIAX–2025–01. 

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-regulations/ 

self-regulatory-organizationrulemaking/national-securitiesexchanges?file_number=SR-MIAX-2025- 

01). 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–2025–01 and 

should be submitted on or before 

February 19, 2025. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01848 Filed 1–28–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–102269; File No. SR– 

PEARL–2025–01] 

Self-Regulatory Organizations; MIAX 

PEARL, LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the By-Laws 

January 23, 2025. 

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 January 

10, 2025, MIAX PEARL, LLC (‘‘MIAX 

Pearl’’ or the ‘‘Company’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Item I below, 

which Item has been substantially 

prepared by MIAX Pearl. MIAX Pearl 

has designated this proposal for 

immediate effectiveness pursuant to 

Section 19(b)(3)(A) of the Act 3 and Rule 

19b–4(f) 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 Company proposes to amend the 

By-Laws to: (1) eliminate the 

requirement to maintain a 

Compensation Committee of the Board 

of Directors (‘‘Board’’) 5 of MIAX Pearl; 

(2) update the process by which the 

Regulatory Oversight Committee 

(‘‘ROC’’) determines the compensation 

of the Chief Regulatory Officer (‘‘CRO’’); 

(3) update the process by which the 

ROC determines personnel actions 

involving the CRO and senior regulatory 

personnel; (4) eliminate the requirement 

to maintain a Quality of Markets 

Committee of the Board of MIAX Pearl; 

(5) update the process by which the 

compensation of all officers, employees 

and agents of MIAX Pearl is determined, 

with an exception for the compensation 

of the CRO; and (6) make nonsubstantive clarifying changes to remove 


khammond on DSK9W7S144PROD with NOTICES