Federal Register / Vol. 87, No. 89 / Monday, May 9, 2022 / Notices 27669 

1 $319 per hour for a compliance manager is from 

SIFMA’s Management & Professional Earnings in 

the Securities Industry 2013, modified by 

Commission staff for an 1800-hour work-year, 

multiplied by 5.35 to account for bonuses, firm size, 

employee benefits, and overhead, and adjusted for 

inflation. 

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

2 17 CFR 240.19b–4. 

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

may take effect upon filing with the Commission if 

it is designated by the exchange as ‘‘establishing or 

changing a due, fee, or other charge imposed by the 

self-regulatory organization on any person, whether 

or not the person is a member of the self-regulatory 

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

4See Securities Exchange Act Release No. 94419 

(March 15, 2022), 87 FR 16046. 

5See Letter from Anders Franzon, General 

Counsel, MEMX, to Vanessa Countryman, 

Secretary, Commission, dated April 29, 2022. 

6 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. 93037 

(Sept. 16, 2021), 86 FR 52719 (Sept. 22, 2021) (SR– 

NYSE–2021–44). 

4 15 U.S.C. 78s(b)(2). 

cost of compliance for the respondents 

is approximately $9,570 per year.1

Written comments are invited on: (a) 

Whether the collection of information is 

necessary for the proper performance of 

the functions of the agency, including 

whether the information shall have 

practical utility; (b) the accuracy of the 

Commission’s estimate of the burden of 

the collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; and 

(d) ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted by 

July 8, 2022. 

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. 

Please direct your written comments 

to: David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John 

Pezzullo, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: May 3, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–09845 Filed 5–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

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

May 12, 2022. 

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. 

(Authority: 5 U.S.C. 552b.) 

Dated: May 5, 2022. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2022–10029 Filed 5–5–22; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94841; File No. SR–MEMX– 

2022–02] 

Self-Regulatory Organizations; MEMX 

LLC; Notice of Withdrawal of a 

Proposed Rule Change To Amend the 

Exchange’s Fee Schedule to Adopt 

Connectivity Fees 

May 3, 2022. 

On March 1, 2022, MEMX LLC 

(‘‘MEMX’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’), 

pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 1 and 

Rule 19b–4 thereunder,2 a proposed rule 

change to amend its Fee Schedule to 

adopt Connectivity Fees. The proposed 

rule change was immediately effective 

upon filing with the Commission 

pursuant to Section 19(b)(3)(A) of the 

Act.3 The proposed rule change was 

published for comment in the Federal 

Register on March 21, 2022.4 On April 

29, 2022, MEMX withdrew the proposed 

rule change (SR–MEMX–2022–02).5

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–09858 Filed 5–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94835; File No. SR–NYSE– 

2021–44] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Withdrawal of Proposed Rule Change 

To Amend NYSE Rules 7.31, 7.35, 

7.35B, 7.35C, 98, and 104 Relating to 

the Closing Auction 

May 3, 2022. 

On September 3, 2021, New York 

Stock Exchange LLC (‘‘Exchange’’) 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 amend Exchange Rules 7.31 

(Orders and Modifiers), 7.35 (General), 

7.35B (DMM-Facilitated Closing 

Auctions), 7.35C (Exchange-Facilitated 

Auctions), 98 (Operation of a DMM 

Unit), and 104 (Dealings and 

Responsibilities of DMMs) relating to 

the Closing Auction. The proposed rule 

change was published for comment in 

the Federal Register on September 22, 

2021.3

On November 1, 2021, pursuant to 

Section 19(b)(2) of the Act,4 the 

Commission extended the time period 

within which to approve the proposed 

rule change, disapprove the proposed 

rule change, or institute proceedings to 


khammond on DSKJM1Z7X2PROD with NOTICES
27670 Federal Register / Vol. 87, No. 89 / Monday, May 9, 2022 / Notices 

5See Securities Exchange Act Release No. 93488 

(Nov. 1, 2021), 86 FR 61352 (Nov. 5, 2021). 

6 15 U.S.C. 78s(b)(2)(B). 

7See Securities Exchange Act Release No. 93809 

(Dec. 17, 2021), 86 FR 73060 (Dec. 23, 2021). 

8See Securities Exchange Act Release No. 94457 

(Mar. 17, 2022), 87 FR 16539 (Mar. 23, 2022). 

9See Anonymous Letter (Sept. 27, 2021); Letter 

from Richard Grant, General Counsel, GTS 

Securities LLC, to J. Matthew DeLesDernier, 

Assistant Secretary, Commission (Mar. 16, 2022). 

The comments received are available at https://

www.sec.gov/comments/sr-nyse-2021-44/ 

srnyse202144.htm. 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Exchange notes that other options 

exchanges offer this pricing increment for stockoption orders. See Cboe Options Rule 5.33(f)(i)(B), 

which provides that, ‘‘users may express bids and 

offers for a stock-option order (including a QCC 

with Stock Order) in any decimal price the 

Exchange determines. The minimum increment for 

the option leg(s) of a stock-option order is $0.01 or 

greater, which the Exchange may determine on a 

class-by-class basis, regardless of the minimum 

increments otherwise applicable to the option 

leg(s), and the stock leg of a stock-option order may 

be executed in any decimal price permitted in the 

equity market.’’ See also Nasdaq ISE Options 3, 

Section 14(c)(1), which similarly provides, ‘‘bids 

and offers for Complex Options Strategies may be 

expressed in one cent ($0.01) increments, and the 

options leg of Complex Options Strategies may be 

executed in one cent ($0.01) increments, regardless 

of the minimum increments otherwise applicable to 

the individual options legs of the order. Bids and 

offers for Stock-Option Strategies or Stock-Complex 

Strategies may be expressed in any decimal price 

determined by the Exchange, and the stock leg of 

a Stock-Option Strategy or Stock-Complex Strategy 

may be executed in any decimal price permitted in 

the equity market. The options leg of a StockOption Strategy or Stock-Complex Strategy may be 

executed in one cent ($0.01) increments, regardless 

of the minimum increments otherwise applicable to 

the individual options legs of the order.’’ See also 

Cboe EDGX Rule 21.20(f)(1)(B). 

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). 

6The term ‘‘Member’’ means an individual or 

organization approved to exercise the trading rights 

associated with a Trading Permit. Members are 

deemed ‘‘members’’ under the Exchange Act. See 

Exchange Rule 100. 

7See MIAX Regulatory Circular 2016–41, Trading 

of Complex Orders on MIAX (October 14, 2016) 

available at https://www.miaxoptions.com/sites/ 

default/files/circular-files/MIAX_RC_2016_41.pdf. 

8See Exchange Rule 518(a)(5). 

determine whether to approve or 

disapprove the proposed rule change to 

December 21, 2021.5 On December 17, 

2021, the Commission instituted 

proceedings under Section 19(b)(2)(B) of 

the Act 6 to determine whether to 

approve or disapprove the proposed 

rule change.7 On March 17, 2022, the 

Commission extended the time for 

Commission action on proceedings to 

approve or disapprove the proposed 

rule change to May 20, 2022.8 The 

Commission received two comment 

letters on the proposal.9

On April 26, 2022, the Exchange 

withdrew the proposed rule change 

(File No. SR–NYSE–2021–44). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–09852 Filed 5–6–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–94836; File No. SR–MIAX– 

2022–17] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of a Proposed Rule Change by Miami 

International Securities Exchange, LLC 

to Amend Exchange Rule 518, 

Complex Orders and Exchange Rule 

515, Execution of Orders and Quotes, 

To Permit Pricing of Stock-Option 

Complex Strategies in any Decimal 

Price the Exchange Determines 

May 3, 2022. 

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 April 19, 

2022, Miami International Securities 

Exchange, LLC (‘‘MIAX Options’’ 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 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 its Rulebook to permit pricing of 

stock-option complex strategies in any 

decimal price the Exchange determines. 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://www.miaxoptions.com/rulefilings/ at MIAX Options’ 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 

Exchange Rule 518, Complex Orders, 

and Exchange Rule 515, Execution of 

Orders and Quotes, to permit pricing of 

stock-option complex strategies in any 

decimal price the Exchange 

determines.3

Background 

In October 2016, the Exchange 

adopted rules governing the trading in, 

and detailing the functionality of the 

MIAX Options System 4 in the handling 

of complex orders on the Exchange.5

The Exchange defines a ‘‘complex 

order’’ as any order involving the 

concurrent purchase and/or sale of two 

or more different options in the same 

underlying security (the ‘‘legs’’ or 

‘‘components’’ of the complex order), 

for the same account, in a ratio that is 

equal to or greater than one-to-three 

(.333) and less than or equal to three-toone (3.00) and for the purposes of 

executing a particular investment 

strategy. Mini-options may only be part 

of a complex order that includes other 

mini-options. Only those complex 

orders in the classes designated by the 

Exchange and communicated to 

Members 6 via Regulatory Circular with 

no more than the applicable number of 

legs, as determined by the Exchange on 

a class-by-class basis and communicated 

to Members via Regulatory Circular,7 are 

eligible for processing.8

A complex order can also be a ‘‘stockoption order’’ as described further, and 

subject to the limitations set forth, in 

Interpretations and Policies .01 of 

Exchange Rule 518. A stock-option 

order is an order to buy or sell a stated 

number of units of an underlying 

security (stock or Exchange Traded 

Fund Share (‘‘ETF’’)) or a security 

convertible into the underlying stock 

(‘‘convertible security’’) coupled with 

the purchase or sale of options 

contract(s) on the opposite side of the 

market representing either (i) the same 

number of units of the underlying 

security or convertible security, or (ii) 

the number of units of the underlying 

stock necessary to create a delta neutral 

position, but in no case in a ratio greater 


khammond on DSKJM1Z7X2PROD with NOTICES