Federal Register / Vol. 86, No. 133 / Thursday, July 15, 2021 / Notices 37393 

10Pursuant to condition A.9, each Fund will also 

maintain and preserve a copy of the Tracking 

Basket published on the Fund’s website for each 

Business Day and a copy of each Creation Basket 

made available. 

11See Exchange-Traded Funds, Investment 

Company Act Release No. 33646 (Sept. 25, 2019) 

(‘‘ETF Adopting Release’’), at 80–94 (discussion of 

rule 6c–11 requirement for ETF policies and 

procedures concerning basket construction and 

acceptance and heightened policies and procedures 

for custom baskets). 

12See supra note 4. 

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

2 17 CFR 240.19b–4. 

instrument may be included in a 

Creation Basket with the expectation 

that the Fund will deliver it in-kind 

during a redemption transaction. 

7. The Funds will use the requested 

basket flexibility only in circumstances 

under which Applicants believe there 

will be no harm to the Funds or their 

shareholders, and in order to benefit the 

Funds and their shareholders by 

reducing costs, increasing efficiency and 

improving trading. 

8. Pursuant to condition A.10 herein, 

each Fund will adopt and implement 

written policies and procedures 

regarding the construction of its 

Creation Baskets in accordance with 

rule 6c–11 under the Act. For purposes 

of the requirement to comply with the 

policies and procedures provision in 

rule 6c–11, only Creation Baskets that 

differ from a Fund’s Tracking Basket 

will be treated as a ‘‘custom basket’’ 

under rule 6c–11(c)(3). 

9. Furthermore, pursuant to condition 

A.9 herein, each Fund will comply with 

the recordkeeping requirements of rule 

6c–11.10 For purposes of the 

requirement to comply with the 

recordkeeping provision in rule 6c–11, 

only Creation Baskets different from a 

Fund’s Tracking Basket will be treated 

as a ‘‘custom basket’’ under rule 6c– 

11(d)(2)(ii). 

B. Considerations Relating to the 

Requested Relief 

9. Applicants represent that the 

ability to utilize a Creation Basket that 

includes instruments that are not 

included, or are included with different 

weightings, in a Fund’s Tracking Basket, 

or are included in different weightings, 

does not raise any new policy concerns 

about reverse engineering of a Fund’s 

portfolio, self-dealing or overreaching, 

or selective disclosure beyond those 

concerns addressed in connection with 

the Prior Order. 

10. Reverse Engineering. Applicants 

acknowledge that, by using a Creation 

Basket that includes instruments that 

are not included in a Fund’s Tracking 

Basket, or are included in different 

percentages, and by publishing such 

Creation Basket on its website, the Fund 

would provide market participants with 

additional information about which 

instruments it adds or removes from the 

Fund’s actual portfolio. However, 

Applicants represent that they will 

operate the Funds in a manner designed 

to minimize the risk of reverse 

engineering and, for the reasons set 

forth in the application, believe 

successful front-running or free-riding is 

highly unlikely. 

11. Self-Dealing or Overreaching. 

Applicants state that APs and other 

market participants will not have the 

ability to disadvantage the Funds by 

manipulating or influencing the 

composition of Creation Baskets, 

including those that differ from the 

Tracking Basket. Like the basket and 

custom basket policies and procedures 

required of ETFs by rule 6c–11, the 

Funds will adopt and implement 

written policies and procedures that 

govern the construction of Creation 

Baskets and the process that will be 

used for the acceptance of Creation 

Baskets to safeguard the best interests of 

the Funds and their shareholders.11

12. Selective Disclosure. The Funds 

and each person acting on behalf of the 

Funds will continue to be required to 

comply with Regulation Fair Disclosure 

as if it applied to them (except that the 

exemptions provided in rule 

100(b)(2)(iii) therein shall not apply). 

Applicants believe that the new 

Creation Basket flexibility being sought 

by the Applicants does not raise any 

new concerns about selective disclosure 

of non-public material information. 

First, a Fund’s use of, or conversations 

with APs about, Creation Baskets that 

would result in such disclosure would 

effectively be limited by the Funds’ 

obligation to comply with Regulation 

Fair Disclosure. Second, as noted above, 

each Business Day, before the open of 

trading on the Exchange where a Fund 

is listed, the Fund will publish on its 

website the composition of any basket 

accepted by the Fund on the previous 

Business Day that differed from such 

Business Day’s Tracking Basket other 

than with respect to cash. 

III. Requested Exemptive Relief 

For the reasons stated above, 

Applicants believe that the Prior Order, 

as amended, continues to meet the 

relevant standards for relief pursuant to 

section 6(c) of 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, 

and under section 12(d)(1)(J) of the Act 

for an exemption from sections 

12(d)(1)(A) and 12(d)(1)(B) of the Act.12

IV. Applicants’ Conditions 

Applicants agree that the Amended 

Order granting the requested relief will 

be subject to all of the conditions in the 

Prior Order, except that condition A.9 of 

the Prior Order is deleted in its entirety 

and replaced with the conditions A.9– 

A.10 as follows: 

9. Each Fund will comply with the 

recordkeeping requirements of rule 6c– 

11 under the Act, as amended, except 

that for purposes of this condition, only 

Creation Baskets different from the 

Fund’s Tracking Basket will be treated 

as a ‘‘custom basket’’ under rule 6c– 

11(d)(2)(ii). In addition, each Fund will 

maintain and preserve, for a period of 

not less than five years, in an easily 

accessible place, (i) a copy of the 

Tracking Basket published on the 

Fund’s website for each Business Day; 

and (ii) a copy of each Creation Basket 

made available. 

10. Each Fund will adopt and 

implement written policies and 

procedures that govern the construction 

of Creation Baskets, as required under 

rule 6c–11(c)(3) under the Act, as 

amended, except that for purposes of 

this condition, only Creation Baskets 

different from the Fund’s Tracking 

Basket will be treated as a ‘‘Custom 

Basket’’. The Fund’s basket policies and 

procedures will be covered by the 

Fund’s compliance program and other 

requirements under rule 38a–1 under 

the Act, as amended. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–15015 Filed 7–14–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92359; File No. SR–MIAX– 

2021–28] 

Self-Regulatory Organizations; Miami 

International Securities Exchange LLC; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Establish Fees for the 

cToM Market Data Product 

July 9, 2021. 

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 June 30, 

2021, Miami International Securities 

Exchange LLC (‘‘MIAX’’ or ‘‘Exchange’’) 


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37394 Federal Register / Vol. 86, No. 133 / Thursday, July 15, 2021 / Notices 

3See Exchange Rule 518(a)(5) for the definition of 

Complex Orders. 

4The term ‘‘System’’ means the automated 

trading system used by the Exchange for the trading 

of securities. See Exchange Rule 100. 

5See Securities Exchange Act Release No. 79072 

(October 7, 2016), 81 FR 71131 (October 14, 2016) 

(SR–MIAX–2016–26) (Order Approving a Proposed 

Rule Change to Adopt New Rules to Govern the 

Trading of Complex Orders). 

6See Securities Exchange Act Release No. 79146 

(October 24, 2016), 81 FR 75171 (October 28, 2016) 

(SR–MIAX–2016–36) (providing a complete 

description of the cToM data feed). 

7The ‘‘Strategy Book’’ is the Exchange’s 

electronic book of complex orders and complex 

quotes. See Exchange Rule 518(a)(17). 

8See supra note 6. 

9A ‘‘Distributor’’ of MIAX data is any entity that 

receives a feed or file of data either directly from 

MIAX or indirectly through another entity and then 

distributes it either internally (within that entity) or 

externally (outside that entity). All Distributors are 

required to execute a MIAX Distributor Agreement. 

See Section 6(a) of the Fee Schedule. 

10The Exchange also proposes to make a minor 

related change to remove ‘‘(as applicable)’’ from the 

explanatory paragraph in Section 6(a) as it will not 

change [sic] fees for both the ToM and cToM data 

feeds. 

11See NYSE American Options Proprietary 

Market Data Fees, American Options Complex Fees 

($1,500 per month Access Fee and $1,000 per 

month Redistribution Fee), at https://

www.nyse.com/publicdocs/nyse/data/NYSE_

American_Options_Market_Data_Fee_

Schedule.pdf; see also NYSE Arca Options 

Proprietary Market Data Fees, Arca Options 

Complex Fees ($1,500 per month Access Fee and 

$1,000 per month Redistribution Fee), at https://

www.nyse.com/publicdocs/nyse/data/NYSE_Arca_

Options_Proprietary_Data_Fee_Schedule.pdf; 

Nasdaq PHLX LLC Price List—U.S. Derivatives 

Data, PHLX Orders Fees (Internal Distributor fee of 

$3,000 per month and External Distributor fee of 

$3,500 per month), at http://

www.nasdaqtrader.com/ 

Trader.aspx?id=DPPriceListOptions#PHLX. 

12 15 U.S.C. 78f(b). 

13 15 U.S.C. 78f(b)(4) and (5). 

filed with the Securities and Exchange 

Commission (‘‘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 a proposal to 

amend the MIAX Options Fee Schedule 

(the ‘‘Fee Schedule’’) to establish fees 

for the market data product known as 

MIAX Complex Top of Market 

(‘‘cToM’’). 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://www.miaxoptions.com/rulefilings, at MIAX’s principal office, and 

at the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

Section 6(a) of the Fee Schedule to 

establish fees for the cToM market data 

product. 

The Exchange previously adopted 

rules governing the trading of Complex 

Orders 3 on the MIAX System 4 in 2016.5

At that time, the Exchange also adopted 

the market data product cToM and 

expressly waived fees for cToM to 

provide an incentive to prospective 

market participants to subscribe to that 

market data feed.6 The Exchange has not 

charged fees to cToM subscribers in the 

nearly five years since it was first 

available for subscription. 

In summary, cToM provides 

subscribers with the same information 

as the MIAX Top of Market (‘‘ToM’’) 

data product as it relates to the Strategy 

Book,7 i.e., the Exchange’s best bid and 

offer for a complex strategy, with 

aggregate size, based on displayable 

order and quoting interest in the 

complex strategy on the Exchange. 

However, cToM provides subscribers 

with the following additional 

information that is not included in ToM: 

(i) The identification of the complex 

strategies currently trading on the 

Exchange; (ii) complex strategy last sale 

information; and (iii) the status of 

securities underlying the complex 

strategy (e.g., halted, open, or resumed). 

cToM is a distinct market data product 

from ToM. ToM subscribers are not 

required to subscribe to cToM, and 

cToM subscribers are not required to 

subscribe to ToM.8

The Exchange now proposes to amend 

Section 6(a) of the Fee Schedule to 

charge monthly fees to Distributors 9 of 

cToM. Specifically, the Exchange 

proposes to assess Internal Distributors 

$1,250 per month and External 

Distributors $1,750 per month for the 

cToM data feed.10 The Exchange notes 

that the proposed monthly cToM fees 

for Internal and External Distributor are 

the same prices that the Exchange 

charges for its ToM data product, and 

are similar to other options exchanges’ 

data feed prices for their comparable 

complex order data feed products.11

Like it does today for ToM, MIAX 

proposes to assess cToM fees on Internal 

and External Distributors in each month 

the Distributor is credentialed to use 

cToM in the production environment. 

Also, like the Exchange does today for 

ToM, market data fees for cToM will be 

reduced for new Distributors for the first 

month during which they subscribe to 

cToM, based on the number of trading 

days that have been held during the 

month prior to the date on which that 

subscriber has been credentialed to use 

cToM in the production environment. 

Such new Distributors will be assessed 

a pro-rata percentage of the fees in the 

table in Section 6(a) of the Fee 

Schedule, which is the percentage of the 

number of trading days remaining in the 

affected calendar month as of the date 

on which they have been credentialed to 

use cToM in the production 

environment, divided by the total 

number of trading days in the affected 

calendar month. 

Implementation Date 

The proposed fee changes will 

become effective on July 1, 2021. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Fee Schedule is 

consistent with Section 6(b) of the Act 12

in general, and furthers the objectives of 

Section 6(b)(4) of the Act 13 in 

particular, in that it is an equitable 

allocation of reasonable dues, fees and 

other charges among its members and 

issuers and other persons using its 

facilities. The Exchange also believes 

the proposal furthers the objectives of 

Section 6(b)(5) of the Act in that it is 

designed to promote just and equitable 

principles of trade, 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 and is not designed to 

permit unfair discrimination between 

customers, issuers, brokers and dealers. 

In adopting Regulation NMS, the 

Commission granted self-regulatory 

organizations (‘‘SROs’’) and brokerdealers increased authority and 

flexibility to offer new and unique 

market data to the public. It was 

believed that this authority would 

expand the amount of data available to 


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14See supra note 11. 

15See MIAX’s ‘‘The Market at a Glance’’, 

available at https://www.miaxoptions.com/ (last 

visited June 29, 2021). 

16See Securities Exchange Act Release No. 51808 

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

(‘‘Regulation NMS Adopting Release’’). 

17The 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 accounts(s). 

The term ‘‘Priority Customer Order’’ means an order 

for the account of a Priority Customer. See 

Exchange Rule 100. 

18The ‘‘Simple Order Book’’ is the Exchange’s 

regular electronic book of orders and quotes. See 

Exchange Rule 100. See supra note 5. 

19See supra note 11. 

20See id. 

21See supra note 6. 22See Exchange Data Agreement, available at 

https://miaxweb2.pairsite.com/sites/default/files/ 

page-files/MIAX_Exchange_Group_Data_

Agreement_09032020.pdf. 

23See id. 

24See id. 

consumers, and also spur innovation 

and competition for the provision of 

market data. Particularly, cToM further 

broadens the availability of U.S. option 

market data to investors consistent with 

the principles of Regulation NMS. The 

data product also promotes increased 

transparency through the dissemination 

of cToM. Particularly, cToM provides 

subscribers with the same information 

as ToM, but includes the following 

additional information: (i) The 

identification of the complex strategies 

currently trading on the Exchange; (ii) 

complex strategy last sale information; 

and (iii) the status of securities 

underlying the complex strategy (e.g., 

halted, open, or resumed). The 

Exchange believes cToM provides a 

valuable tool that subscribers can use to 

gain substantial insight into the trading 

activity in Complex Orders, but also 

emphasizes such data is not necessary 

for trading. Moreover, other exchanges 

offer similar data products.14

The Exchange operates in a highly 

competitive environment. Indeed, there 

are currently 16 registered options 

exchanges that trade options. Based on 

publicly available information, no single 

options exchange has more than 15% of 

the market share and currently the 

Exchange represents only approximately 

6.75% of the market share.15 The 

Commission has repeatedly expressed 

its preference for competition over 

regulatory intervention in determining 

prices, products, and services in the 

securities markets. Particularly, in 

Regulation NMS, 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.’’ 16

Making similar data products available 

to market participants fosters 

competition in the marketplace, and 

constrains the ability of exchanges to 

charge supra-competitive fees. In the 

event that a market participant views 

one exchange’s data product as more or 

less attractive than the competition, that 

market participant can and may switch 

between similar products. The proposed 

fees are a result of the competitive 

environment, as the Exchange seeks to 

adopt fees to attract purchasers of cToM. 

No market participant is required by 

any rule or regulation to utilize the 

Exchange’s Complex Order functionality 

or subscribe to the cToM data feed. 

Further, unlike orders on the Exchange’s 

Simple Order Book, Complex Orders are 

not protected and will never trade 

through Priority Customer 17 orders, 

thus protecting the priority that is 

established in the Simple Order Book.18

Additionally, unlike the continuous 

quoting requirements of Market Makers 

in the simple order market, there are no 

continuous quoting requirements 

respecting Complex Orders. It is a 

business decision whether market 

participants utilize Complex Order 

strategies on the Exchange and whether 

to purchase cToM data to help effect 

those strategies. 

The Exchange believes the proposed 

fees are reasonable as the proposed fees 

are both modest and similar to, or even 

lower than, the fees assessed by other 

exchanges that provide similar data 

products.19 Indeed, proposing fees that 

are excessively higher than established 

fees for similar data products would 

simply serve to reduce demand for the 

Exchange’s data product, which as 

noted, is entirely optional. Like the 

Exchange’s cToM data product, other 

exchanges offer similar data products 

and complex order functionality. As 

such, if a market participant views 

another exchange’s complex order 

functionality and related data feed(s) as 

more attractive than what is offered by 

the Exchange, then such market 

participant can merely choose not to 

utilize the Exchange’s Complex Order 

functionality or purchase cToM. 

Instead, that market participant can 

utilize similar complex functionality 

elsewhere and purchase another 

exchange’s complex data product, 

which likely offers similar data points, 

albeit based on that other market’s 

complex order trading activity. 

Selling market data, such as cToM, is 

also a means by which exchanges 

compete to attract business. If the 

market deems the proposed fees to be 

unfair or inequitable, firms can 

diminish or discontinue their use of the 

data and/or avail themselves of similar 

products offered by other exchanges.20

The Exchange therefore believes that the 

proposed fees for cToM reflect the 

competitive environment and would be 

properly assessed on Member or nonMember users. The Exchange also 

believes the proposed fees are equitable 

and not unfairly discriminatory as the 

fees would apply equally to all users 

who choose to purchase such data. The 

Exchange’s proposed fees would not 

differentiate between subscribers that 

purchase cToM and are set at a modest 

level that would allow any interested 

Member or non-Member to purchase 

such data based on their business needs. 

The Exchange also believes the 

proposed cToM fees are reasonable and 

not unfairly discriminatory because 

since the Exchange initially established 

the cToM data product in 2016, all 

Exchange Members have had the ability 

to receive the Exchange’s cToM data 

free of charge for the past five years.21

The Exchange believes that it is 

reasonable, equitable and not unfairly 

discriminatory to assess Internal 

Distributors fees that are less than the 

fees assessed for External Distributors 

for subscriptions to the cToM data feed 

because Internal Distributors have 

limited, restricted usage rights to the 

market data, as compared to External 

Distributors, which have more 

expansive usage rights. All Members 

and non-Members that determine to 

receive any market data feed of the 

Exchange (or its affiliates, MIAX 

PEARL, LLC and MIAX Emerald, LLC), 

must first execute, among other things, 

the MIAX Exchange Group Exchange 

Data Agreement (the ‘‘Exchange Data 

Agreement’’).22 Pursuant to the 

Exchange Data Agreement, Internal 

Distributors are restricted to the 

‘‘internal use’’ of any market data they 

receive. This means that Internal 

Distributors may only distribute the 

Exchange’s market data to the 

recipient’s officers and employees and 

its affiliates.23 External Distributors may 

distribute the Exchange’s market data to 

persons who are not officers, employees 

or affiliates of the External Distributor,24

and may charge their own fees for the 

distribution of such market data. 

Accordingly, the Exchange believes it is 

fair, reasonable and not unfairly 

discriminatory to assess External 

Distributors a higher fee for the 

Exchange’s market data products as 

External Distributors have greater usage 

rights to commercialize such market 


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25See supra note 11. 

26 Id. 27 Id. 

28 15 U.S.C. 78s(b)(3)(A)(ii). 

29 17 CFR 240.19b–4(f)(2). 

data. The Exchange also utilizes more 

resources to support External 

Distributors versus Internal Distributors, 

as External Distributors have reporting 

and monitoring obligations that Internal 

Distributors do not have, thus requiring 

additional time and effort of Exchange 

staff. The Exchange believes the 

proposed cToM fees are equitable and 

not unfairly discriminatory because the 

fee level results in a reasonable and 

equitable allocation of fees amongst 

subscribers for similar services, 

depending on whether the subscribers is 

an Internal or External Distributor. 

Moreover, the decision as to whether or 

not to purchase market data is entirely 

optional to all market participants. 

Potential purchasers are not required to 

purchase the market data, and the 

Exchange is not required to make the 

market data available. Purchasers may 

request the data at any time or may 

decline to purchase such data. The 

allocation of fees among users is fair and 

reasonable because, if market 

participants deem the proposed fees to 

be unfair or inequitable, firms can 

discontinue their use of the cToM data. 

Further, the Exchange no longer 

believes it is necessary to provide cToM 

data for free to attract market 

participants since the Exchange’s 

Strategy Book is now established and 

the Exchange no longer needs to rely on 

such waivers to attract market 

participants to its Complex Order 

market or cToM subscribers. The 

Exchange believes that the proposal is 

equitable and not unfairly 

discriminatory because the proposed 

cToM fees will apply to all market 

participants of the Exchange on a 

uniform basis. The Exchange also notes 

that the proposed monthly cToM fees 

for Internal and External Distributors are 

the same prices that the Exchange 

charges for its ToM data product, and 

are generally lower than other options 

exchanges’ data feed prices for their 

comparable data feed products.25

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Rather, the 

Exchange believes that the proposal will 

promote competition by permitting the 

Exchange to sell a data product similar 

to those offered by other competitor 

options exchanges.26 The Exchange 

made Complex Order functionality and 

cToM available in order to keep pace 

with changes in the U.S. options 

industry and evolving customer needs, 

and believes the data product will 

continue to contribute to robust 

competition among national securities 

exchanges. Other U.S. options 

exchanges offer complex order 

functionality and market data products 

that are substantially similar to that 

offered by the Exchange. As a result, the 

Exchange believes this proposed rule 

change permits fair competition among 

national securities exchanges. 

Furthermore, the Exchange operates 

in a highly competitive environment, 

and its ability to price cToM is 

constrained by competition among 

exchanges that offer similar data 

products and complex order 

functionality to their customers. As 

discussed, there are currently a number 

of similar products available to market 

participants and investors. Other U.S. 

options exchanges offer market data 

products that are substantially similar to 

cToM, which the Exchange must 

consider in its pricing discipline in 

order to compete for the market data.27

For example, proposing fees that are 

excessively higher than established fees 

for similar data products would simply 

serve to reduce demand for the 

Exchange’s data product, which as 

discussed, market participants are under 

no obligation to utilize. In this 

competitive environment, potential 

purchasers are free to choose which, if 

any, similar product to purchase to 

satisfy their need for market 

information. As a result, the Exchange 

believes this proposed rule change 

permits fair competition among national 

securities exchanges. 

The Exchange also does not believe 

the proposed fees would cause any 

unnecessary or in appropriate [sic] 

burden on intermarket competition as 

other exchanges are free to introduce 

their own comparable data product and 

lower their prices to better compete 

with the Exchange’s offering. The 

Exchange does not believe the proposed 

rule change would cause any 

unnecessary or inappropriate burden on 

intramarket competition. Particularly, 

the proposed product and fees apply 

uniformly to any purchaser, in that it 

does not differentiate between 

subscribers that purchase cToM. The 

proposed fees are set at a modest level 

that would allow any interested Member 

or non-Member to purchase such data 

based on their business needs. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act,28 and Rule 

19b–4(f)(2) 29 thereunder. At any time 

within 60 days of the filing of the 

proposed rule change, the Commission 

summarily may temporarily suspend 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. If the Commission 

takes such action, the Commission shall 

institute proceedings to determine 

whether the proposed rule 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– 

MIAX–2021–28 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–MIAX–2021–28. 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 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 86, No. 133 / Thursday, July 15, 2021 / Notices 37397 

30 17 CFR 200.30–3(a)(12). 

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–MIAX–2021–28, and 

should be submitted on or before 

August 5, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–15031 Filed 7–14–21; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #16955 and #16956; 

Mississippi Disaster Number MS–00135] 

Presidential Declaration Amendment of 

a Major Disaster for Public Assistance 

Only for the State of Mississippi 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 1. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Mississippi (FEMA–4598– 

DR), dated 5/04/2021. 

Incident: Severe Winter Storms. 

Incident Period: 02/11/2021 through 02/ 

19/2021. 

DATES: Issued on 07/07/2021. 

Physical Loan Application Deadline 

Date: Filing Period for counties listed 

below ends on 09/07/2021. 

Economic Injury (EIDL) Loan 

Application Deadline Date: Filing 

Period for counties listed below ends on 

04/07/2022. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street SW, Suite 6050, 

Washington, DC 20416, (202) 205–6734. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for Private Non-Profit 

organizations in the State of Mississippi, 

dated 5/04/2021, is hereby amended to 

include the counties listed below. 

Please contact the SBA disaster 

customer service center by email at 

disastercustomerservice@sba.gov or by 

phone at 1–800–659–2955 to request an 

application. Applications for physical 

damages may be filed until 09/07/2021 

and applications for economic injury 

may be file until 04/07/2022. 

Primary Counties: Clay, Holmes, 

Quitman, Webster, Wilkinson. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

James Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2021–15061 Filed 7–14–21; 8:45 am] 

BILLING CODE 8026–03–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Notice of Intent To Rule on Request for 

Disposal of 14.1 Acres of Land at 

Auburn-Lewiston Airport, Auburn, ME 

AGENCY: Federal Aviation 

Administration (FAA), Transportation 

(DOT). 

ACTION: Request for public comments. 

SUMMARY: Notice is being given that the 

FAA is considering a request from the 

Cities of Auburn and Lewiston, ME to 

dispose of 14.1 acres of land at AuburnLewiston Airport, Auburn, ME. The 

land is not required for aeronautical use. 

Given its location, the disposal of land 

will not affect existing or future aviation 

development needs at the airport. An 

avigation easement will be placed on 

the property to ensure conformance 

with airport airspace requirements. The 

proceeds of the land sale will be placed 

in the airport’s operating and 

maintenance account. 

DATES: Comments must be received on 

or before August 16, 2021. 

ADDRESSES: You may send comments 

using any of the following methods: 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov, and follow 

the instructions on providing 

comments. 

• Fax: 202–493–2251. 

• Mail: U.S. Department of 

Transportation, Docket Operations, M– 

30, West Building Ground Floor, Room 

W 12–140, 1200 New Jersey Avenue SE, 

Washington, DC 20590. 

• Hand Delivery: Deliver to mail 

address above between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal holidays. 

Interested persons may inspect the 

request and supporting documents by 

contacting the FAA at the address listed 

under FOR FURTHER INFORMATION

CONTACT. 

FOR FURTHER INFORMATION CONTACT: Mr. 

Jorge E. Panteli, Compliance and Land 

Use Specialist, Federal Aviation 

Administration New England Region 

Airports Division, 1200 District Avenue, 

Burlington, Massachusetts 01803. 

Telephone: 781–238–7618. 

Authority: 49 U.S.C. 47107(h)(2). 

Issued in Burlington, Massachusetts on 

July 12, 2021. 

Julie Seltsam-Wilps, 

Deputy Director, ANE–600. 

[FR Doc. 2021–15064 Filed 7–14–21; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Motor Carrier Safety 

Administration 

[Docket No. FMCSA–2008–0355; FMCSA– 

2011–0089; FMCSA–2014–0381; FMCSA– 

2014–0382; FMCSA–2017–0253; FMCSA– 

2018–0057; FMCSA–2019–0028; FMCSA– 

2019–0029] 

Qualification of Drivers; Exemption 

Applications; Epilepsy and Seizure 

Disorders 

AGENCY: Federal Motor Carrier Safety 

Administration (FMCSA), Department 

of Transportation (DOT). 

ACTION: Notice of renewal of 

exemptions; request for comments. 

SUMMARY: FMCSA announces its 

decision to renew exemptions for 13 

individuals from the requirement in the 

Federal Motor Carrier Safety 

Regulations (FMCSRs) that interstate 

commercial motor vehicle (CMV) 

drivers have ‘‘no established medical 

history or clinical diagnosis of epilepsy 

or any other condition which is likely 

to cause loss of consciousness or any 

loss of ability to control a CMV.’’ The 

exemptions enable these individuals 

who have had one or more seizures and 

are taking anti-seizure medication to 

continue to operate CMVs in interstate 

commerce. 


khammond on DSKJM1Z7X2PROD with NOTICES