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###### Securities and Exchange Commission

          - [Release No. 34-94653; File No. SR-MEMX-2022-07]

                    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the                           ( print page 22263)                        “Act”),[1]                                          and Rule 19b-4 thereunder,[2]                                          notice is hereby given that on April 1, 2022, MEMX LLC (“MEMX” or the “Exchange”) filed with the Securities and Exchange Commission (the “Commission”) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange 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 is filing with the Commission a proposed rule change to amend Rule 13.8(b) to clarify what information is disseminated in the MEMOIR Top data feed. The text of the proposed rule change is provided in Exhibit 5.

## 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 Rule 13.8(b) to clarify what information is disseminated in the MEMOIR Top data feed. The Exchange does not propose any changes to the information that is disseminated in the MEMOIR Top data feed, or any changes to the Exchange's System functionality, order handling, or operation, in this filing. Instead, this proposed change merely corrects an inadvertent drafting error contained in the Exchange's initial Rules in order to clarify what information is disseminated in the MEMOIR Top data feed today. Specifically, the Exchange's Rule 13.8(b) currently states that MEMOIR Top is an uncompressed data feed that offers top of book quotations and execution information based on equity orders entered into the System, however, the information actually published through MEMOIR Top is limited to top of book quotations. Accordingly, the Exchange proposes to eliminate the reference to execution information from Rule 13.8(b). The proposed change is therefore intended to add clarity and promote transparency around the Exchange's current operation and Rules for the benefit of its Users and all market participants.

#### 2. Statutory Basis

                    The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,[5]                                          in general, and furthers the objectives of Section 6(b)(5) of the Act,[6]                                          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 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. As described above, the Exchange simply proposes to eliminate the reference to execution information from Rule 13.8(b) to correct an inadvertent drafting error contained in the Exchange's initial Rules and clarify what information is disseminated in the MEMOIR Top data feed today. Accordingly, the Exchange believes the proposed change is consistent with the Act because it is intended to add clarity and promote transparency around the Exchange's current operation and Rules, which would help to avoid confusion for the benefit of its Users and all market participants.                

### B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposal would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Rather, the proposed change would add clarity and promote transparency around the Exchange's current operation and its Rules for the benefit of its Users and all market participants, as described above. No changes to the Exchange's System functionality, order handling, or operation are contemplated by these proposed changes, which would merely clarify the Exchange's current operation and its Rules. As such, the proposal does not address competitive issues but is concerned solely with the administration of the Exchange and its Rules. Accordingly, as the Exchange is not proposing any changes to the Exchange's System functionality, order handling, or operation, the Exchange does not believe the proposed rule change could have any impact on competition (intermarket or intramarket).

### C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others

The Exchange neither solicited nor received comments on 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 [7]                                          and Rule 19b-4(f)(6) [8]                                          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 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:                          ( print page 22264)    

### 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-MEMX-2022-07 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-MEMX-2022-07. 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-MEMX-2022-07 and should be submitted on or before May 5, 2022.                

                        For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[9] 

Jill M. Peterson,

Assistant Secretary.

# Footnotes

1.                             15 U.S.C. 78s(b)(1).                    
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2.                             17 CFR 240.19b-4.                    
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3.                             15 U.S.C. 78s(b)(3)(A)(iii).                    
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4.                             17 CFR 240.19b-4(f)(6).                    
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5.                             15 U.S.C. 78f(b).                    
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6.                             15 U.S.C. 78f(b)(5).                    
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7.                             15 U.S.C. 78s(b)(3)(A).                    
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8.                             17 CFR 240.19b-4.                    
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9.                                 17 CFR 200.30-3(a)(12).                        
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[FR Doc. 2022-07953 Filed 4-13-22; 8:45 am]

BILLING CODE 8011-01-P