Federal Register / Vol. 86, No. 140 / Monday, July 26, 2021 / Notices 40111 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See NYSE Arca Rule 6.1–O(b)41. Short Term 

Option Series. 

5The Exchange proposes to make a clarifying 

change to Rule 6.4–O Commentary .07(g) to make 

clear that the Exchange may have no more than a 

total of five each of Wednesday SPY Expirations 

and Wednesday QQQ Expirations and a total of five 

each of Monday SPY Expirations and Monday QQQ 

Expirations. The Exchange also proposes to make a 

non-substantive change to add the word ‘‘business’’ 

before ‘‘day’’ in the first sentence of Rule 6.4–O 

Commentary .07(g). 

6See NYSE Arca Rule 6.4–O Commentary .07(g). 

7See NYSE Arca Rule 6.4–O Commentary .07(e). 

8Rule 6.1–O, Definition of ‘‘Short Term Option 

Series.’’ 

9 Id. 

10See Securities Exchange Act Release No. 91238 

(March 2, 2021), 86 FR 13404 (March 8, 2021) (SR– 

Phlx–2021–10). 

11See Phlx Options 4A, Section 12(b)(5). 

12See ISE Supplementary Material .07 to Options 

4A, Section 12. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92453; File No. SR– 

NYSEArca–2021–63] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Permit Monday and 

Wednesday Expirations for Options 

Listed Pursuant to the Short Term 

Option Series Program on the Invesco 

QQQ TrustSM Series (‘‘QQQ’’) ETF Trust 

July 21, 2021. 

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 July 12, 

2021, NYSE Arca, Inc. (‘‘NYSE Arca’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the self-regulatory organization. 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 

Rule 6.4–O to permit Monday and 

Wednesday expirations for options 

listed pursuant to the Short Term 

Options Series Program on the Invesco 

QQQ TrustTM Series (‘‘QQQ’’) ETF 

Trust. The proposed rule change is 

available on the Exchange’s website at 

www.nyse.com, 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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this filing is to amend 

Rule 6.4–O, Series of Options Open for 

Trading, to permit Monday and 

Wednesday expirations for options 

listed pursuant to the Short Term 

Options Series Program (‘‘Program’’) on 

QQQ. 

A Short Term Options Series is a 

series in an option class that is 

approved for listing and trading on the 

Exchange in which the series is opened 

for trading on any Monday, Tuesday, 

Wednesday, Thursday or Friday that is 

a business day and that expires on the 

Monday, Wednesday or Friday of the 

next business week, or, in the case of a 

series that is listed on a Friday and 

expires on a Monday, is listed one 

business week and one business day 

prior to that expiration.4 The Exchange 

is proposing to amend Rule 6.4–O 

Commentary .07(g) to permit the listing 

of options series that expire on Mondays 

and Wednesdays in QQQ. 

Monday Expirations 

As proposed, with respect to Monday 

QQQ Expirations within Rule 6.4–O 

Commentary .07, the Exchange may 

open for trading on any Friday or 

Monday that is a business day series of 

options on QQQ to expire on any 

Monday of the month that is a business 

day and is not a Monday in which 

Quarterly Options Series on the same 

class expire (‘‘Monday QQQ 

Expirations’’), provided that Monday 

QQQ Expirations that are listed on a 

Friday must be listed at least one 

business week and one business day 

prior to the expiration. The Exchange 

may list up to five consecutive Monday 

QQQ Expirations at one time; the 

Exchange may have no more than a total 

of five Monday QQQ Expirations.5

Wednesday Expirations 

As proposed, with respect to 

Wednesday QQQ Expirations within 

Rule 6.4–O Commentary .07, the 

Exchange may open for trading on any 

Tuesday or Wednesday that is a 

business day series of options on QQQ 

to expire on any Wednesday of the 

month that is a business day and is not 

a Wednesday in which Quarterly 

Options Series on the same class expire 

(‘‘Wednesday QQQ Expirations’’). The 

Exchange may list up to five 

consecutive Wednesday QQQ 

Expirations at one time; the Exchange 

may have no more than a total of five 

Wednesday QQQ Expirations. 

Monday and Wednesday Expirations 

The interval between strike prices for 

the proposed Monday and Wednesday 

QQQ Expirations will be the same as 

those for the current Short Term Option 

Series for Wednesday and Friday 

expirations applicable to the Program.6

Specifically, the Monday and 

Wednesday QQQ Expirations will have 

a $0.50 strike interval minimum.7 As is 

the case with other equity options series 

listed pursuant to the Program, the 

Monday and Wednesday QQQ 

Expirations series will be P.M. settled. 

Pursuant to Rule 6.1–O,8 with respect 

to the Program, if Monday is not a 

business day the series shall expire on 

the first business day immediately 

following that Monday. This procedure 

differs from the expiration date of 

Wednesday expiration series that are 

scheduled to expire on a holiday. 

Pursuant to Rule 6.1–O 9 a Wednesday 

expiration series shall expire on the first 

business day immediately prior to that 

Wednesday, e.g., Tuesday of that week, 

if the Wednesday is not a business day. 

For purposes of QQQ, however, the 

Exchange believes that it is preferable to 

require Monday expiration series in this 

scenario to expire on the Tuesday of 

that week rather than the previous 

business day, e.g., the previous Friday, 

since the Tuesday is closer in time to 

the scheduled expiration date of the 

series than the previous Friday, and 

therefore may be more representative of 

anticipated market conditions. Nasdaq 

PHLX LLC (‘‘Phlx’’) uses the same 

procedure for QQQ with Monday and 

Wednesday expirations.10 Nasdaq 

Phlx 11 and Nasdaq ISE, LLC (‘‘ISE’’) 12

also use the same procedure for options 

on the Nasdaq-100® (‘‘NDX’’) with 

Monday expirations that are listed 

pursuant to its Nonstandard Expirations 


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40112 Federal Register / Vol. 86, No. 140 / Monday, July 26, 2021 / Notices 

13See Cboe Rule 4.13(e)(1) ‘‘. . . If the Exchange 

is not open for business on a respective Monday, 

the normally Monday expiring Weekly Expirations 

will expire on the following business day. If the 

Exchange is not open for business on a respective 

Wednesday or Friday, the normally Wednesday or 

Friday expiring Weekly Expirations will expire on 

the previous business day.’’ 

14See NYSE Arca Rule 6.4–O Commentary .07. 

15 Id. 

16See NYSE Arca Rule 6.4–O Commentary .07(a). 

17 15 U.S.C. 78f(b). 

18 15 U.S.C. 78f(b)(5). 

19Supra note 14. 

20Supra note 13. 

21Supra note 11. 

22Supra note 12. 

23Supra note 14. 

24Supra note 13. 

25Supra note 11. 

26Supra note 12. 

Pilot Programs, respectively. Cboe 

Exchange, Inc. (‘‘Cboe’’) uses the same 

procedure for options on the S&P500 

index (‘‘SPX’’) with Monday expirations 

that are listed pursuant to its 

Nonstandard Expirations Pilot Program 

and that are scheduled to expire on a 

holiday.13

Currently, for each option class 

eligible for participation in the Program, 

the Exchange is limited to opening 

thirty (30) series for each expiration date 

for the specific class.14 The thirty (30) 

series restriction does not include series 

that are open by other securities 

exchanges under their respective short 

term options rules; the Exchange may 

list these additional series that are listed 

by other exchanges.15 This thirty (30) 

series restriction would apply to 

Monday and Wednesday QQQ 

Expiration series as well. In addition, 

the Exchange will be able to list series 

that are listed by other exchanges, 

assuming they file similar rules with the 

Commission to list QQQ options 

expiring on Mondays and Wednesdays. 

Finally, the Exchange is amending 

Rule 6.4–O Commentary .07(a), which 

addresses the listing of Short Term 

Options Series that expire in the same 

week as monthly or quarterly options 

series. Currently, that rule states that no 

Short Term Option Series may expire in 

the same week in which monthly option 

series on the same class expire (with the 

exception of Monday and Wednesday 

SPY Expirations) or, in the case of 

Quarterly Options Series, on an 

expiration that coincides with an 

expiration of Quarterly Options Series 

on the same class.16 As with Monday 

and Wednesday SPY Expirations, the 

Exchange is proposing to permit 

Monday and Wednesday QQQ 

Expirations to expire in the same week 

as monthly options series on the same 

class. The Exchange believes that it is 

reasonable to extend this exemption to 

Monday and Wednesday QQQ 

Expirations because Monday and 

Wednesday QQQ Expirations and 

standard monthly options will not 

expire on the same trading day, as 

standard monthly options expire on 

Fridays. Additionally, the Exchange 

believes that not listing Monday and 

Wednesday QQQ Expirations for one 

week every month because there was a 

monthly QQQ expiration on the Friday 

of that week would create investor 

confusion. 

The Exchange does not believe that 

any market disruptions will be 

encountered with the introduction of 

P.M.-settled Monday and Wednesday 

QQQ expirations. The Exchange has the 

necessary capacity and surveillance 

programs in place to support and 

properly monitor trading in the 

proposed Monday and Wednesday QQQ 

Expirations. The Exchange currently 

trades P.M.-settled Short Term Option 

Series that expire Monday and 

Wednesday for SPY and has not 

experienced any market disruptions nor 

issues with capacity. The Exchange 

currently has surveillance programs in 

place to support and properly monitor 

trading in Short Term Option Series that 

expire Monday and Wednesday for SPY. 

Similar to SPY, the introduction of 

Monday and Wednesday QQQ 

Expirations will, among other things, 

expand hedging tools available to 

market participants and continue the 

reduction of the premium cost of buying 

protection. The Exchange believes that 

Monday and Wednesday QQQ 

Expirations will allow market 

participants to purchase QQQ based on 

their timing as needed and allow them 

to tailor their investment and hedging 

needs more effectively. 

2. Statutory Basis 

The Exchange believes that its 

proposed rule change is consistent with 

Section 6(b) of the Act 17 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act 18 in particular, in that it is 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanisms of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. 

The proposed rule change is intended 

to provide the investing public and 

other market participants more 

flexibility to closely tailor their 

investment and hedging decisions in 

QQQ options, thus allowing them to 

better manage their risk exposure. 

In particular, the Exchange believes 

the Program has been successful to date 

and that Monday and Wednesday QQQ 

Expirations should simply expand the 

ability of investors to hedge risk against 

market movements stemming from 

economic releases or market events that 

occur throughout the month in the same 

way that the Program has expanded the 

landscape of hedging. Similarly, the 

Exchange believes Monday and 

Wednesday QQQ Expirations should 

create greater trading and hedging 

opportunities and flexibility, and will 

provide customers with the ability to 

tailor their investment objectives more 

effectively. The Exchange currently lists 

Monday and Wednesday SPY 

Expirations.19 Also, Cboe 20 currently 

permits Monday and Wednesday 

expirations for other options with a 

weekly expiration, such as options on 

the SPX pursuant to its Nonstandard 

Expirations Pilot Program and Phlx 21

and ISE 22 currently permit Monday and 

Wednesday expirations for other 

options with a weekly expiration on 

NDX pursuant to its Nonstandard 

Expirations Pilot Programs, respectively. 

With the exception of Monday 

expiration series that are scheduled to 

expire on a holiday, there are no 

material differences in the treatment of 

Monday and Wednesday QQQ 

Expirations for Short Term Option 

Series. The Exchange believes that it is 

consistent with the Act to treat Monday 

expiration series that expire on a 

holiday differently than Wednesday or 

Friday expiration series, since the 

proposed treatment for Monday 

expiration series will result in an 

expiration date that is closer in time to 

the scheduled expiration date of the 

series, and therefore may be more 

representative of anticipated market 

conditions. Monday SPY expirations are 

currently treated in this manner.23

Cboe 24 uses the same procedure for SPX 

options with Monday expirations that 

are listed pursuant to its Nonstandard 

Expirations Pilot Program and that are 

scheduled to expire on a holiday, as do 

Phlx 25 and ISE 26 for NDX options with 

Monday expirations that are listed 

pursuant to their Nonstandard 

Expirations Pilot Programs, respectively. 

Given the similarities between 

Monday and Wednesday SPY 

Expirations and the proposed Monday 

and Wednesday QQQ Expirations, the 

Exchange believes that applying the 

provisions in NYSE Arca Rule 6.4–O 

Commentary .07 that currently apply to 

Monday and Wednesday SPY 


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Federal Register / Vol. 86, No. 140 / Monday, July 26, 2021 / Notices 40113 

27Supra note 14. 

28Supra note 13. 

29Supra note 11. 

30Supra note 12. 

31 15 U.S.C. 78s(b)(3)(A). 

32 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

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

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 

33 17 CFR 240.19b–4(f)(6). 

34 17 CFR 240.19b–4(f)(6)(iii). 

35See Securities Exchange Act Release No. 91614 

(April 20, 2021), 86 FR 22082 (April 26, 2021) (SR– 

Phlx–2021–10). 

36For 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). 

Expirations to Monday and Wednesday 

QQQ Expirations is justified. For 

example, the Exchange believes that 

allowing Monday and Wednesday QQQ 

Expirations and monthly QQQ 

expirations in the same week will 

benefit investors and minimize investor 

confusion by providing Monday and 

Wednesday QQQ Expirations in a 

continuous and uniform manner. The 

Exchange also believes that it is 

appropriate to amend NYSE Arca Rule 

6.4–O Commentary .07 to clarify that no 

Short Term Option Series may expire on 

the same day as an expiration of 

Quarterly Option Series on the same 

class, same as SPY. 

The Exchange represents that it has an 

adequate surveillance program in place 

to detect manipulative trading in 

Monday and Wednesday expirations, 

including Monday and Wednesday 

QQQ Expirations, in the same way that 

it monitors trading in the current Short 

Term Option Series and trading in 

Monday and Wednesday SPY 

Expirations. The Exchange also 

represents that it has the necessary 

systems capacity to support the new 

options series. Finally, the Exchange 

does not believe that any market 

disruptions will be encountered with 

the introduction of Monday and 

Wednesday QQQ Expirations. 

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 that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange notes that having Monday and 

Wednesday QQQ Expirations is not a 

novel proposal, as Monday and 

Wednesday SPY Expirations are 

currently listed on the Exchange.27

Cboe 28 uses the same procedure for SPX 

options with Monday expirations that 

are listed pursuant to its Nonstandard 

Expirations Pilot Program and that are 

scheduled to expire on a holiday, as do 

Phlx 29 and ISE 30 for NDX options with 

Monday expirations that are listed 

pursuant to their Nonstandard 

Expirations Pilot Programs, respectively. 

The Exchange does not believe the 

proposal will impose any burden on 

intra-market competition, as all market 

participants will be treated in the same 

manner under this proposal. 

Additionally, the Exchange does not 

believe the proposal will impose any 

burden on inter-market competition, as 

nothing prevents the other options 

exchanges from proposing similar rules 

to list and trade Short-Term Option 

Series with Monday and Wednesday 

expirations. 

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 31 and Rule 19b– 

4(f)(6) thereunder.32

A proposed rule change filed under 

Rule 19b–4(f)(6) 33 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),34 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has requested 

that the Commission waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. The Commission notes that it 

recently approved Phlx’s substantially 

similar proposal to list and trade 

Monday QQQ Expirations and 

Wednesday QQQ Expirations.35 The 

Exchange has stated that waiver of the 

operative delay is consistent with the 

protection of investors and the public 

interest as it would encourage fair 

competition among exchanges by 

allowing the Exchange to compete 

effectively with Phlx by having the 

ability to list and trade the same 

Monday and Wednesday QQQ 

Expirations that Phlx is able to list and 

trade. For these reasons, the 

Commission believes that the proposed 

rule change presents no novel issues 

and that waiver of the 30-day operative 

delay is consistent with the protection 

of investors and the public interest, and 

will allow the Exchange to remain 

competitive with other exchanges. 

Accordingly, the Commission hereby 

waives the operative delay and 

designates the proposed rule change 

operative upon filing.36

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 

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– 

NYSEArca–2021–63 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–NYSEArca–2021–63. 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 


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40114 Federal Register / Vol. 86, No. 140 / Monday, July 26, 2021 / Notices 

37 17 CFR 200.30–3(a)(12). 

1The CAT NMS Plan is a national market system 

plan approved by the Commission pursuant to 

Section 11A of the Exchange Act and the rules and 

regulations thereunder. See Securities Exchange Act 

Release No. 79318 (November 15, 2016), 81 FR 

84696 (November 23, 2016). 

2 15 U.S.C. 78k–1(a)(3). 

3 17 CFR 242.608. 

4See Notice of Filing of Amendment to the 

National Market System Plan Governing the 

Consolidated Audit Trail, Release No. 91555 (April 

14, 2021), 86 FR 21050 (‘‘Notice’’). Comments 

received in response to the Notice can be found on 

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–NYSEArca–2021–63, and 

should be submitted on or before 

August 16, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.37

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–15832 Filed 7–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 2:00 p.m. on Thursday, 

July 29, 2021. 

PLACE: The meeting will be held via 

remote means and/or at the 

Commission’s headquarters, 100 F 

Street NE, Washington, DC 20549. 

STATUS: This meeting will be closed to 

the public. 

MATTERS TO BE CONSIDERED: 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

In the event that the time, date, or 

location of this meeting changes, an 

announcement of the change, along with 

the new time, date, and/or place of the 

meeting will be posted on the 

Commission’s website at https://

www.sec.gov. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) 

and (10) and 17 CFR 200.402(a)(3), 

(a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and 

(a)(10), permit consideration of the 

scheduled matters at the closed meeting. 

The subject matter of the closed 

meeting will consist of the following 

topics: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Resolution of litigation claims; and 

Other matters relating to examinations 

and enforcement proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting agenda items that 

may consist of adjudicatory, 

examination, litigation, or regulatory 

matters. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

Dated: July 22, 2021. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2021–15936 Filed 7–22–21; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting; Cancellation 

FEDERAL REGISTER CITATION OF PREVIOUS

ANNOUNCEMENT: 86 FR 38391, July 20, 

2021. 

PREVIOUSLY ANNOUNCED TIME AND DATE OF

THE MEETING: Thursday, July 22, 2021 at 

2:00 p.m. 

CHANGES IN THE MEETING: The Closed 

Meeting scheduled for Thursday, July 

22, 2021 at 2:00 p.m., has been 

cancelled. 

CONTACT PERSON FOR MORE INFORMATION: 

For further information; please contact 

Vanessa A. Countryman from the Office 

of the Secretary at (202) 551–5400. 

Dated: July 21, 2021. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2021–15907 Filed 7–22–21; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92451; File No. 4–698] 

Joint Industry Plan; Order Instituting 

Proceedings To Determine Whether To 

Approve or Disapprove an Amendment 

to the National Market System Plan 

Governing the Consolidated Audit Trail 

July 20, 2021. 

I. Introduction 

On March 31, 2021, the Operating 

Committee for Consolidated Audit Trail, 

LLC (‘‘CAT LLC’’ or the ‘‘Company’’), on 

behalf of the following parties to the 

National Market System Plan Governing 

the Consolidated Audit Trail (the ‘‘CAT 

NMS Plan’’ or ‘‘Plan’’): 1 BOX Exchange 

LLC; Cboe BYX Exchange, Inc., Cboe 

BZX Exchange, Inc., Cboe EDGA 

Exchange, Inc., Cboe EDGX Exchange, 

Inc., Cboe C2 Exchange, Inc., Cboe 

Exchange, Inc., Financial Industry 

Regulatory Authority, Inc. (‘‘FINRA’’), 

Investors Exchange LLC, Long-Term 

Stock Exchange, Inc., Miami 

International Securities Exchange LLC, 

MEMX, LLC, MIAX Emerald, LLC, 

MIAX PEARL, LLC, Nasdaq BX, Inc., 

Nasdaq GEMX, LLC, Nasdaq ISE, LLC, 

Nasdaq MRX, LLC, Nasdaq PHLX LLC, 

The NASDAQ Stock Market LLC, New 

York Stock Exchange LLC, NYSE 

American LLC, NYSE Arca, Inc., NYSE 

Chicago, Inc., and NYSE National, Inc. 

(collectively, the ‘‘Participants,’’ ‘‘selfregulatory organizations,’’ or ‘‘SROs’’) 

filed with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

pursuant to Section 11A(a)(3) of the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’),2 and Rule 608 

thereunder,3 a proposed amendment 

(‘‘Proposed Amendment’’) to the CAT 

NMS Plan to implement a revised 

funding model (‘‘Proposed Funding 

Model’’) for the consolidated audit trail 

(‘‘CAT’’) and to establish a fee schedule 

for Participant CAT fees in accordance 

with the Proposed Funding Model 

(‘‘Participant Fee Schedule’’). The 

Proposed Amendment was published 

for comment in the Federal Register on 

April 21, 2021.4


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