52536 Federal Register / Vol. 86, No. 180 / Tuesday, September 21, 2021 / Notices 

11 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)(iii). 

4 17 CFR 204.19b–4(f)(6). 

5The term ‘‘Order Entry Firm’’ or ‘‘OEF’’ means 

a member organization that submits orders, as agent 

or principal, on the Exchange. See Phlx Options 1, 

Section 1(b)(32). 

6Phlx General 4 is incorporated by reference to 

the General 4 Rules of The Nasdaq Stock Market 

LLC. 

7 General 4, Rule 1220(a)(8) provides, in part, 

‘‘Each member that is engaged in transactions in 

options with the public shall have at least one 

Registered Options Principal. In addition, each 

principal as defined in paragraph (a)(1) of this Rule 

who is responsible for supervising a member’s 

options sales practices with the public shall be 

required to register with the Exchange as a 

Registered Options Principal, subject to the 

following exception. If a principal’s options 

activities are limited solely to those activities that 

may be supervised by a General Securities Sales 

Supervisor, then such person may register as a 

General Securities Sales Supervisor pursuant to 

paragraph (a)(10) of this Rule in lieu of registering 

as a Registered Options Principal.’’ 

8Supplementary Material .04 to General 4, Rule 

1220 provides, in part, ‘‘Any person required to be 

registered as a principal who supervises sales 

activities in corporate, municipal and option 

securities, investment company products, variable 

contracts, direct participation program securities 

and security futures may be registered solely as a 

General Securities Sales Supervisor. In addition to 

branch office managers, other persons such as 

regional and national sales managers may also be 

registered solely as General Securities Sales 

Supervisors as long as they supervise only sales 

activities.’’ 

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–2021–070 and 

should be submitted on or before 

October 12, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–20334 Filed 9–20–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92986; File No. SR–Phlx– 

2021–52] 

Self-Regulatory Organizations; Nasdaq 

PHLX LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Adopt Phlx Options 

10, Section 5, Branch Office, and 

Options 10, Section 17, Profit Sharing 

Rules 

September 15, 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 

September 3, 2021, Nasdaq PHLX LLC 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I, II, 

and III, below, which Items have been 

prepared by the Exchange. Phlx filed the 

proposal as a ‘‘non-controversial’’ 

proposed rule change pursuant to 

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

Rule 19b–4(f)(6) 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 Exchange proposes to adopt new 

Phlx Options 10, Section 5, Branch 

Office, and Options 10, Section 17, 

Profit Sharing. The Exchange also 

proposes to amend General 9, Section 

58, and Options 10, Section 6, Opening 

of Accounts. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/phlx/rules, 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 

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 adopt two 

new rules at Options 10, Section 5, 

Branch Office, and Options 10, Section 

17, Profit Sharing. The Exchange also 

proposes to amend General 9, Section 

58 and Options 10, Section 6, Opening 

of Accounts. Each change will be 

described below. 

Options 10, Section 5 

The Exchange proposes to adopt a 

new Options 10, Section 5, titled 

‘‘Branch Offices.’’ Options 10, Section 5 

is currently reserved. The proposed rule 

would be similar to Nasdaq BX, Inc. 

(‘‘BX’’) and The Nasdaq Options Market 

LLC (‘‘NOM’’) Options 10, Section 5. 

The proposed rule text would provide, 

(a) Every OEF approved to do options 

business with the public under this Options 

10 shall file with Phlx Regulation and keep 

current a list of each of its branch offices 

showing the location of each such office and 

the name of the manager of each such office. 

(b) No branch office of an OEF shall 

transact options business with the public 

unless the manager of such branch office has 

been qualified as a Options Principal or 

General Securities Sales Supervisor; 

provided, that this requirement shall not 

apply to branch offices in which not more 

than three (3) representatives are located so 

long as the OEF can demonstrate to the 

satisfaction of Phlx Regulation that the 

options activities of such branch offices are 

appropriately supervised by a Options 

Principal or General Securities Sales 

Supervisor. 

Similar to BX and NOM, Phlx would 

require every Order Entry Firm or 

‘‘OEF’’ 5 that is approved to do business 

with the public pursuant to Options 10 

to file with Phlx Regulation a list of 

each branch office. The list must 

include the location of the branch office 

and the name of the manager of the 

office. The OEF must keep this list 

current. Further, an OEF must ensure 

that the branch office manager is 

qualified prior to transacting business 

with the public in the branch office. A 

manager must be registered as an 

Options Principal or General Securities 

Sales Supervisor, unless there are not 

more than three representatives in that 

branch office and the OEF can 

demonstrate to the satisfaction of Phlx 

Regulation that the options activities of 

such branch offices are appropriately 

supervised by an Options Principal or 

General Securities Sales Supervisor. 

Currently, Phlx General 4,6 Section 

1220(a)(8) 7 and Supplementary Material 

.04 of that rule 8 require the manager to 

be registered as an Options Principal or 

General Securities Sales Supervisor. In 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 180 / Tuesday, September 21, 2021 / Notices 52537 

9See Securities Exchange Act Nos. 84386 

(October 9, 2018), 83 FR 51988 (October 15, 2018) 

(SR–NASDAQ–2018–078) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

To Amend, Reorganize and Enhance Its 

Membership, Registration and Qualification Rules); 

and 84353 (October 3, 2018), 83 FR 50999 (October 

10, 2018) (SR–BX–2018–047) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

To Amend, Reorganize and Enhance Membership, 

Registration and Qualification Rules, and To Make 

Conforming Changes to Certain Other Rules). 

10See Securities Exchange Act Release No. 81098 

(July 7, 2017), 82 FR 32419 (July 13, 2017) (SR– 

FINRA–2017–007) (Order Approving Proposed Rule 

Change To Adopt Consolidated Registration Rules, 

Restructure the Representative-Level Qualification 

Examination Program, Allow Permissive 

Registration, Establish Exam Waiver Process for 

Persons Working for Financial Services Affiliate of 

Member, and Amend the Continuing Education 

Requirements). 

11The term ‘‘member organization’’ means a 

corporation, partnership (general or limited), 

limited liability partnership, limited liability 

company, business trust or similar organization, 

transacting business as a broker or a dealer in 

securities and which has the status of a member 

organization by virtue of (i) admission to 

membership given to it by the Membership 

Department pursuant to the provisions of General 

3, Sections 5 and 10 or the By-Laws or (ii) the 

transitional rules adopted by the Exchange pursuant 

to Section 6–4 of the By-Laws. References herein to 

officer or partner, when used in the context of a 

member organization, shall include any person 

holding a similar position in any organization other 

than a corporation or partnership that has the status 

of a member organization. See General 1, Section 

1(17). 

12FINRA and Phlx utilize different terminology to 

describe members. Also, the rules are numbered 

differently and the rule citations differ. 

13Phlx has rule text similar to FINRA Rule 

2150(a) within General 9, Section 2(a). Also, Phlx 

has rule text similar to FINRA Rule 2150(b) within 

General 9, Section 54. 

14The term ‘‘member’’ means a permit holder 

which has not been terminated in accordance with 

the By-Laws and these Rules of the Exchange. A 

member is a natural person and must be a person 

associated with a member organization. Any 

references in the rules of the Exchange to the rights 

or obligations of an associated person or person 

associated with a member organization also 

includes a member. See General 1, Section 1(16). 

15See Phlx General 3, Section 11. 

16Proposed Options 10, Section 17(a)(1) through 

(3) provides that a member, member organization, 

or person associated with a member organization 

may share in the profits or losses in such an account 

if (1) such member or person associated with a 

member organization obtains prior written 

authorization from the member organization 

employing the associated person; (2) such member, 

member organization, or person associated with a 

member organization obtains prior written 

authorization from the customer; and (3) such 

member, member organization, or person associated 

with a member organization shares in the profits or 

losses in any account of such customer only in 

direct proportion to the financial contributions 

made to such account by either the member, 

member organization, or person associated with a 

member organization. 

2018, NOM’s and BX’s registration 

requirements 9 were updated to mirror a 

similar change by FINRA.10 At that 

time, Phlx Options 10, Section 5 should 

have been amended to update the 

registrations applicable to a branch 

office manager to conform to the new 

General 4 registration requirements. The 

Exchange is proposing to make those 

amendments at this time. 

The Exchange proposes to relocate 

Supplementary Material .08 to Options 

10, Section 6 to proposed 

Supplementary Material .01 to Options 

10, Section 5 and amend a citation 

within proposed Supplementary 

Material .01(vi) of Options 10, Section 5 

from ‘‘(1)–(vii)’’ to ‘‘(i) to (vii)’’ to 

conform the numbering. 

The proposed rule would permit Phlx 

to better regulate branch offices of 

member organizations 11 by making 

clear within proposed Options 10, 

Section 5, related to doing business with 

the public, that an OEF that transacts 

business with the public must be 

qualified as a Registered Options 

Principal or General Securities Sales 

Supervisor. Further, the proposed rule 

explains that the requirement to be 

qualified as a Registered Options 

Principal or General Securities Sales 

Supervisor shall not apply to branch 

offices in which not more than three 

representatives are located so long as 

the OEF can demonstrate to the 

satisfaction of Phlx Regulation that the 

options activities of such branch offices 

are appropriately supervised by a 

Registered Options Principal or General 

Securities Sales Supervisor. This 

additional specificity will assist member 

organizations in complying with branch 

office requirements. Today, the 

Exchange has other rules to regulate 

supervision of branch office such as 

General 9, Section 20, Supervision. The 

addition of this rule, similar to NOM 

and BX, will permit Phlx to enforce the 

rule in a manner similar to NOM and 

BX by specifically requiring that 

members and member organizations that 

are doing business with the public 

maintain certain qualifications similar 

to NOM and BX. Members and member 

organizations that are required to 

comply with Options 10, Section 5 now 

have transparent information to 

determine if they have the appropriate 

manager qualifications. Also, the 

proposed rule makes clear when the 

requirement to be qualified as a 

Registered Options Principal or General 

Securities Sales Supervisor does not 

apply. The specified qualifications for 

branch managers will ensure branch 

offices are properly supervised by 

qualified individuals. 

Options 10, Section 17 

The Exchange proposes to adopt a 

new Options 10, Section 17, Profit 

Sharing. Options 10, Section 17 is 

currently reserved. The Exchange’s rule 

is similar to FINRA Rule 2150(c),12

Sharing in Accounts; Extent 

Permissible.13 For purposes of 

comparing Phlx’s proposed rule to 

FINRA’s Rule 2150, the Exchange notes 

that the term ‘‘member’’ within FINRA 

Rule 2150 is equivalent to Phlx’s 

defined term ‘‘member organization.’’ 

Phlx also utilizes an additional term, 

‘‘member’’,14 to define its floor 

membership. Each ‘‘member’’ on Phlx’s 

trading floor is required to obtain a 

permit to conduct business on the 

trading floor.15 FINRA does not have a 

similar trading floor concept. 

Similar to FINRA Rule 2150(c), Phlx 

proposes to prohibit members, member 

organizations, and associated persons 

from sharing directly or indirectly in the 

profits or losses in any account of a 

customer, however the rule does 

provide three circumstance within 

proposed Options 10, Section 17(a)(1) 

through (3) wherein a member, member 

organization, or person associated with 

a member organization may share in the 

profits or losses in such an account.16

Specifically, proposed Options 10, 

Section 17(a) permits a member, 

member organization, or person 

associated with a member organization 

to share directly or indirectly in the 

profits or losses in any account of a 

customer carried by a member, member 

organization, or person associated with 

a member organization, if prior written 

authorization is obtained as described in 

proposed subparagraphs (1) and (2) and 

the member, member organization, or 

person associated with a member 

organization shares in the profits or 

losses in any account of such customer 

only in direct proportion to the financial 

contributions made to such account by 

either the member, member 

organization, or person associated with 

a member organization as described in 

proposed subparagraph (3). 

Proposed Options 10, Section 17(b) 

exempts from paragraph (a)(3) the 

accounts of the immediate family of 

such member, member organization, or 

person associated with a member 

organization. The rule proposes to 

define ‘‘immediate family’’ to include 

parents, mother-in-law or father-in-law, 

husband or wife, children or any 

relative to whose support the member, 

member organization, or person 

associated with a member organization 

otherwise contributes directly or 

indirectly. 

Proposed Options 10, Section 17(c) 

permits a member, member 

organization, or person associated with 

a member organization that is acting as 

an investment adviser to receive 

compensation based on a share in 


lotter on DSK11XQN23PROD with NOTICES1
52538 Federal Register / Vol. 86, No. 180 / Tuesday, September 21, 2021 / Notices 

17 15 U.S.C. 78f. 

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

19The qualification requirement shall not apply 

to branch offices in which not more than three 

representatives are located so long as the OEF can 

demonstrate to the satisfaction of Phlx Regulation 

that the options activities of such branch offices are 

appropriately supervised by a Registered Options 

Principal or General Securities Sales Supervisor. 

See proposed Options 10, Section 5(b). 

profits or gains in an account provided 

certain conditions are met. Specifically, 

the member or person associated with a 

member organization seeking such 

compensation obtains prior written 

authorization from the member or 

member organization employing the 

associated person; and such member, 

member organization, or person 

associated with a member organization 

seeking such compensation obtains 

prior written authorization from the 

customer; and all of the conditions in 

Rule 205–3 of the Investment Advisers 

Act of 1940 (as the same may be 

amended from time to time) are 

satisfied. 

This proposal would enable Phlx to 

better regulate profit sharing 

arrangements of member organizations, 

members, and persons associated with 

member organizations by clearly 

specifying the manner in which a 

member organization, member, or 

person associated with a member 

organization may share in the profits or 

losses in such an account, describing 

what activity is exempt from the direct 

proportionate share limitation of 

proposed paragraph (a)(3), and 

delineating within proposed paragraph 

(c) how a member organization, 

member, or person associated with a 

member organization that is acting as an 

investment adviser may receive 

compensation based on a share in 

profits or gains in an account. Today, 

Phlx General 9, Section 7, Report of 

Financial Arrangements, permits Phlx to 

learn of such arrangements. The 

proposed rule would enable Phlx to 

restrict the ability to profit share to 

certain limited circumstances, similar to 

FINRA. 

General 9, Section 58 

The Exchange proposes to amend 

General 9, Section 58, Advertisements, 

Market Letters, Research Reports and 

Sales Literature, to amend the heading 

‘‘Supplementary Material’’ to 

‘‘Supplementary Material to General 9, 

Section 58’’ so the format of the heading 

is the same as other General 9 rules. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,17

in general, and with Section 6(b)(5) of 

the Act,18 in particular, in that the 

proposal 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 regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, 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. 

Options 10, Section 5 

The adoption of a new Options 10, 

Section 5, titled ‘‘Branch Offices,’’ is 

consistent with the Act and will protect 

investors and the public interest 

because the proposed rule explains the 

requirement to be qualified as a 

Registered Options Principal or General 

Securities Sales Supervisor and also 

explains when the requirement to be 

registered as such does not apply.19

General 9, Section 20, Supervision, does 

not offer the same specificity as 

proposed within Options 10, Section 5 

with respect to branch offices, and 

General 9, Section 20 does not 

specifically apply only to members 

doing business with the public. The 

addition of this rule, similar to NOM 

and BX Options 10, Section 5, will 

permit Phlx to enforce the rule in a 

manner similar to NOM and BX by 

requiring certain qualifications for 

members doing business with the 

public. These qualifications for branch 

managers will protect investors and the 

public interest by ensuring branch 

offices are properly supervised by 

qualified individuals who will ensure 

compliance with the Exchange’s rules. 

Today, Phlx General 4 requires member 

organizations, members, and persons 

associated with a member organization 

to have certain qualifications when 

conducting certain activity. These 

qualifications are designed to ensure 

that individuals have the necessary 

knowledge and experience to supervise 

persons employed by the member 

organization at a branch office. 

Proposed Options 10, Section 5 

specifically requires that members and 

member organizations that are doing 

business with the public maintain 

certain qualifications. Members and 

member organizations that are required 

to comply with Options 10, Section 5 

now have transparent information to 

determine which of the qualifications 

apply to a manager of a branch office 

and when those qualification apply. 

Options 10, Section 17 

Adopting a new Options 10, Section 

17, Profit Sharing, similar to FINRA 

Rule 2150(c), Sharing in Accounts; 

Extent Permissible, is consistent with 

the Act. This proposal will protect 

investors and the public interest 

because it will clearly specify the way 

a member, member organization, or 

person associated with a member 

organization may share in the profits or 

losses in such an account. The proposal 

also will describe what activity is 

exempt from the direct proportionate 

share limitation of proposed paragraph 

(a)(3). Finally, the proposal will 

delineate within proposed paragraph (c) 

how a member, member organization, or 

person associated with a member 

organization that is acting as an 

investment adviser may receive 

compensation based on a share in 

profits or gains in an account. Members, 

member organizations, and persons 

associated with a member organization 

will have clear guidance on when profit 

sharing is permissible. Today, Phlx 

General 9, Section 7, Report of Financial 

Arrangements, permits Phlx to learn of 

such arrangements, and Phlx General 1, 

Section 1(c) does not permit members, 

member organizations, and persons 

associated with a member organization 

to engage in conduct inconsistent with 

just and equitable principles of trade. 

The proposed rule would enable Phlx to 

further restrict the ability to profit share 

in certain limited circumstances, similar 

to FINRA. 

General 9, Section 58 

The Exchange’s proposal to amend a 

heading within General 9, Section 58, 

Advertisements, Market Letters, 

Research Reports and Sales Literature, is 

a non-substantive rule change. 

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, as amended. 

Options 10, Section 5 

The Exchange’s proposal to adopt a 

new Options 10, Section 5, titled 

‘‘Branch Offices,’’ does not impose an 

undue burden on competition as all 

member organizations that conduct 

business with the public would be 

subject to the proposed rule. 

Options 10, Section 17 

The Exchange’s proposal to adopt a 

new Options 10, Section 17, Profit 

Sharing, similar to FINRA Rule 2150(c), 

Sharing in Accounts; Extent 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 86, No. 180 / Tuesday, September 21, 2021 / Notices 52539 

20 15 U.S.C. 78s(b)(3)(A)(iii). 

21 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 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. 22 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 92573 

(August 5, 2021), 86 FR 44062 (August 11, 2021). 

4Comments received on the proposed rule change 

are available at: https://www.sec.gov/comments/srnysearca-2021-53/srnysearca202153.htm. 

5 15 U.S.C. 78s(b)(2). 

6 Id. 

Permissible, does not impose an undue 

burden on competition as all members, 

member organizations, and persons 

associated with member organizations 

that conduct business with the public 

would be subject to the proposed rule. 

General 9, Section 58 

The Exchange’s proposal to amend a 

heading within General 9, Section 58, 

Advertisements, Market Letters, 

Research Reports and Sales Literature, is 

a non-substantive rule change. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

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)(iii) of the Act 20 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.21

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– 

Phlx–2021–52 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–Phlx–2021–52. 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–Phlx–2021–52 and should 

be submitted on or before October 12, 

2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–20325 Filed 9–20–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92999; File No. SR– 

NYSEArca–2021–53] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on a Proposed Rule Change To List 

and Trade Shares of the Teucrium 

Bitcoin Futures Fund Under NYSE 

Arca Rule 8.200–E 

September 15, 2021. 

On July 23, 2021, NYSE Arca, Inc. 

(‘‘NYSE Arca’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

list and trade shares of the Teucrium 

Bitcoin Futures Fund under NYSE Arca 

Rule 8.200–E, Commentary .02 (Trust 

Issued Receipts). The proposed rule 

change was published for comment in 

the Federal Register on August 11, 

2021.3 The Commission has received 

comments on the proposed rule 

change.4

Section 19(b)(2) of the Act 5 provides 

that within 45 days of the publication of 

notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission shall either 

approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether the proposed rule change 

should be disapproved. The 45th day 

after publication of the notice for this 

proposed rule change is September 25, 

2021. The Commission is extending this 

45-day time period. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to take action on the 

proposed rule change so that it has 

sufficient time to consider the proposed 

rule change and the comments received. 

Accordingly, pursuant to Section 

19(b)(2) of the Act,6 the Commission 

designates November 9, 2021, as the 

date by which the Commission shall 

either approve or disapprove, or 


lotter on DSK11XQN23PROD with NOTICES1