Federal Register / Vol. 86, No. 161 / Tuesday, August 24, 2021 / Notices 47345 

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

16 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

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

the Commission written notice of its intent to file 

the proposed rule change, 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. 17 17 CFR 200.30–3(a)(12). 

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 15 and Rule 19b– 

4(f)(6) thereunder.16

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. 

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– 

NASDAQ–2021–063 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–NASDAQ–2021–063. 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–NASDAQ–2021–063, and 

should be submitted on or before 

September 14, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18118 Filed 8–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–629, OMB Control No. 

3235–0719] 

Submission for OMB Review; 

Comment Request 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Exchange Act Rules 13n–1—13n–12; Form 

SDR 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rules 13n–1 through 13n–12 (17 CFR 

240.13n–1 through 240.13n–12) and 

Form SDR (‘‘Rules’’), under the 

Securities Exchange Act of 1934 (15 

U.S.C. 78m(n)(3) et seq.). 

Under the Rules, security-based swap 

data repositories (‘‘SDRs’’) are required 

to register with the Commission by 

filing a completed Form SDR (the filing 

of a completed Form SDR also 

constitutes an application for 

registration as a securities information 

processor (‘‘SIP’’)). SDRs are also 

required to abide by certain minimum 

standards set out in the Rules, including 

a requirement to update Form SDR, 

abide by certain duties and core 

principles, maintain data in accordance 

with the rules, keep systems in 

accordance with the Rules, keep 

records, provide reports to the 

Commission, maintain the privacy of 

security-based swaps (‘‘SBSs’’) data, 

make certain disclosures, and designate 

a Chief Compliance Officer. In addition, 

there are a number of collections of 

information contained in the Rules. The 

information collected pursuant to the 

Rules is necessary to carry out the 

mandates of the Dodd-Frank Act and 

help ensure an orderly and transparent 

market for SBSs. 

Assuming a maximum of ten SDRs, 

the Commission estimates that the total 

reporting burden for all of the Rules and 

Form SDR for all respondents is 463,493 

hours initially, with a total annual 

burden thereafter of 270,511.70 hours 

totaling approximately 1,275,028 hours. 

This equates to approximately 

425,009.29 hours per year when 

annualized over three years. In addition, 

the Commission estimates that the total 

cost for all of the Rules and Form SDR 

for all respondents is approximately 

$103,364,700 initially, with a total 

annual cost thereafter of $65,227,720 

totaling approximately $299,047,860. 

This equates to $99,682,619.90 per year 

when annualized over three years. A 

detailed break-down of the estimated 

burdens and costs is provided in the 

supporting statement. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following website: 

>www.reginfo.gov<. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to (i) >MBX.OMB.OIRA.SEC_

desk_officer@omb.eop.gov< and (ii) 


lotter on DSK11XQN23PROD with NOTICES1
47346 Federal Register / Vol. 86, No. 161 / Tuesday, August 24, 2021 / Notices 

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

2 17 CFR 240.19b–4. 

3As a result of the proposed elimination of 

certain rule violations listed under Rule 13.15(g), 

the proposed rule change subsequently renumbers 

current Rules 13.15(g)(6), (8), (9), (11), (13), (14), 

(15), (16), (17), (18), (19) and (20), to Rules 

13.15(g)(4), (5), (6), (7), (8), (9), (10), (11), (12), (13), 

(14) and (15), respectively. 

4See Rule 6.1(a), which provides that a 

participant in each transaction to be designated by 

the Exchange must report or ensure the transaction 

is reported to the Exchange within 90 seconds of 

the execution in a form and manner prescribed by 

the Exchange so that the trade information may be 

reported to time and sales reports; and Rule 6.1(c), 

which provides the Exchange-established procedure 

for reporting transactions pursuant to Rule 6.1(a). 

5See Rule 5.52(a), which provides, in relevant 

part, that Market-Maker bids and offers are firm for 

all orders under this Rule and Rule 602 of 

Regulation NMS under the Exchange Act (‘‘Rule 

602’’) for the number of contracts specified in the 

bid or offer, except if: (1) A system malfunction or 

other circumstance impairs the Exchange’s ability 

to disseminate or update market bids and offers in 

a timely and accurate manner; (2) the level of 

trading activities or the existence of unusual market 

conditions is such that the Exchange is incapable 

of collecting, processing, and making available to 

quotation vendors the data for the option in a 

manner that accurately reflects the current state of 

the market on the Exchange; (3) prior to the 

conclusion of the Opening Auction Process; or (4) 

any of the circumstances provided in Rule 602(c)(4) 

exist. 

6Rule 5.85(a)(2)(A), which provides that Priority 

Customer orders in the Book have first priority. If 

there are two or more Priority Customer orders in 

the Book at the same price, the System prioritizes 

them in the order in which the System received 

them (i.e., in time priority). The Exchange notes that 

customer priority for electronic executions is 

systematically enforced. See Rule 5.32(a)(2)(A). 

7See Rule 5.91(a), which provides that a Floor 

Broker handling an order must use due diligence to 

execute the order at the best price or prices 

available to him or, in accordance with the Rules. 

Use of due diligence in handling and executing an 

order includes: (1) Announcing to the trading 

crowd a request for quotes; (2) taking the necessary 

measures to ensure the proper execution of an order 

in accordance with firm quote obligations in Rule 

5.52, including the executable quantity of a quote 

from the trading crowd; (3) the immediate and 

continuous representation at the trading station 

where the applicable class trades of the following 

types of orders: (A) Market orders; (B) limit orders 

to sell where the specified price is at or below the 

current offer or; and (C) limit orders to buy where 

the specified price is at or above the current bid; 

(4) subject to the requirement to systematize orders 

prior to representation pursuant to Rule 5.7(f), 

electronically recording the time via a PAR 

workstation at which the Floor Broker initially 

represents the order to the trading crowd; and (5) 

prioritizing the Floor Broker’s agency business over 

the Floor Broker’s liquidation orders (which 

liquidation orders are described in Rule 5.91(d)). 

David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Cynthia 

Roscoe, 100 F Street NE, Washington, 

DC 20549, or by sending an email to: 

PRA_Mailbox@sec.gov. 

Dated: August 18, 2021. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2021–18105 Filed 8–23–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92702; File No. SR–CBOE– 

2021–045] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing and 

Order Granting Accelerated Approval 

of a Proposed Rule Change To Amend 

Rule 13.15, Which Governs the 

Exchange’s Minor Rule Violation Plan 

August 18, 2021. 

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 August 3, 

2021, Cboe Exchange, Inc. 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 Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons and approving 

the proposal on an accelerated basis. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

Cboe Exchange, Inc. (the ‘‘Exchange’’ 

or ‘‘Cboe Options’’) proposes to amend 

Rule 13.15, which governs the 

Exchange’s Minor Rule Violation Plan 

(‘‘MRVP’’), in connection with certain 

minor rule violations, applicable fines, 

as well as other clarifying, 

nonsubstantive changes. The text of the 

proposed rule change is provided in 

Exhibit 5. 

The text of the proposed rule change 

is also available on the Exchange’s 

website (http://www.cboe.com/ 

AboutCBOE/ 

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

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 III 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 its 

MRVP in Rule 13.15 in connection with 

certain minor rule violations, applicable 

fines, as well as other clarifying, 

nonsubstantive changes. Rule 13.15 

provides for disposition of specific 

violations through assessment of fines 

in lieu of conducting a formal 

disciplinary proceeding. Rule 13.15(g) 

sets forth the list of specific Exchange 

Rules under which a Trading Permit 

Holder (‘‘TPH’’) or person associated 

with or employed by a TPH may be 

subject to a fine for violations of such 

Rules and the applicable fines that may 

be imposed by the Exchange. 

Specifically, the proposed rule change 

amends Rule 13.15(g) by: (1) 

Eliminating certain rule violations that 

the Exchange no longer believes to be 

minor in nature; (2) updating the fine 

schedule applicable to minor rule 

violations related to a Market-Maker’s 

failure to meet Exchange quoting 

obligations; and (3) making other 

nonsubstantive changes. 

First, the proposed rule change 

removes the following rule violations 

and applicable fines from Rule 

13.15(g): 3

• Rule 13.15(g)(4), which currently 

imposes certain fines for failure to 

submit trade information on time and 

failure to submit trade information to 

the Price Reporter pursuant to Rule 6.1 

(Report Transactions to the Exchange); 4

• Rule 13.15(g)(5), which currently 

imposes certain fines for failure to 

honor the firm quote requirements of 

Rules 5.52 (Market-Maker Quotes) 5 and 

5.59 (Firm Disseminated Market 

Quotes), to honor the priority of 

marketable priority customer orders 

pursuant to Rules 5.32 and 5.85 (which 

among other things, govern customer 

priority on the Exchange’s trading 

floor),6, and to use due diligence in the 

execution of orders for which the floor 

Trading Permit Holder maintains an 

agency obligation pursuant to Rule 5.91 

(Floor Broker Responsibilities); 7

• Rule 13.15(g)(7), which currently 

imposes certain fines for any individual 

Trading Permit Holder who fails for 

more than 5% of the Trading Permit 

Holder’s transactions in any month to 

submit on the date that a transaction is 


lotter on DSK11XQN23PROD with NOTICES1