Federal Register / Vol. 87, No. 111 / Thursday, June 9, 2022 / Notices 35269 

84See supra notes 26–27; see supra note 29 and 

accompanying text. 

85 15 U.S.C. 78s(b)(3)(A)(ii). 

86 17 CFR 240.19b–4(f)(2). 87 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. 93689 

(December 1, 2021), 86 FR 69335 (‘‘Notice’’). The 

comment letters received on the proposed rule 

change are available on the Commission’s website 

at: https://www.sec.gov/comments/sr-cboebyx-2021- 

028/srcboebyx2021028.htm. 

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

5See Securities Exchange Act Release No. 94009, 

87 FR 4098 (January 26, 2022). The Commission 

designated March 7, 2022, as the date by which it 

should approve, disapprove, or institute 

proceedings to determine whether to disapprove the 

proposed rule change. 

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

7See Securities Exchange Act Release No. 94373, 

87 FR 14060 (March 11, 2022). 

8See Securities Exchange Act Release No. 94787 

(April 22, 2022), 87 FR 25309. 

9 15 U.S.C. 78s(b)(2). 

10See Notice, supra note 3. 

but with higher rates to connect.84 The 

Exchange is also unaware of any 

assertion that the proposed fees for 

Exchange Data Feeds would somehow 

unduly impair its competition with 

other exchanges. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 85 and Rule 

19b–4(f)(2) 86 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: 

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–2022–14 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–2022–14. 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–2022–14 and 

should be submitted on or before June 

30, 2022. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.87

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–12401 Filed 6–8–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95035; File No. SR– 

CboeBYX–2021–028] 

Self-Regulatory Organizations; Cboe 

BYX Exchange, Inc.; Notice of 

Designation of a Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change, 

as Modified by Amendment No. 1, To 

Introduce a New Data Product To Be 

Known as the Short Volume Report 

June 3, 2022. 

On November 22, 2021, Cboe BYX 

Exchange, Inc. (‘‘BYX’’ or ‘‘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 Rule 11.22(f) 

to introduce a new data product to be 

known as the Short Volume Report. The 

proposed rule change was published for 

comment in the Federal Register on 

December 7, 2021.3 On January 20, 

2022, pursuant to Section 19(b)(2) of the 

Act,4 the Commission designated a 

longer period within which to approve 

the proposed rule change, disapprove 

the proposed rule change, or institute 

proceedings to determine whether to 

disapprove the proposed rule change.5

On March 7, 2022, 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 30, 

2022, the Exchange filed Amendment 

No. 1 to the proposed rule change, 

which superseded the proposed rule 

change as originally filed. The proposed 

rule change, as modified by Amendment 

No. 1, was published for comment in 

the Federal Register on April 28, 2022.8

Section 19(b)(2) of the Act 9 provides 

that, after initiating proceedings, the 

Commission shall issue an order 

approving or disapproving the proposed 

rule change not later than 180 days after 

the date of publication of notice of the 

filing of the proposed rule change. The 

Commission may extend the period for 

issuing an order approving or 

disapproving the proposed rule change, 

however, by not more than 60 days if 

the Commission determines that a 

longer period is appropriate and 

publishes the reasons for such 

determination. The proposed rule 

change was published for comment in 

the Federal Register on December 7, 

2021.10 The 180th day after publication 

of the proposed rule change is June 5, 

2022. The Commission is extending the 

time period for approving or 


lotter on DSK11XQN23PROD with NOTICES1
35270 Federal Register / Vol. 87, No. 111 / Thursday, June 9, 2022 / Notices 

11 15 U.S.C. 78s(b)(2). 

12 17 CFR 200.30–3(a)(57). 

1See Letter from Jeffrey S. Davis, Senior Vice 

President and Senior Deputy General Counsel, 

Nasdaq, to Vanessa Countryman, Secretary, 

Commission (Feb. 11, 2022). 

2 15 U.S.C 78k–1(a)(3). 

3 17 CFR 242.608. 

4The Plan was created to enhance the 

effectiveness and efficiency of the national market 

system and to provide for fair competition between 

the self-regulatory organizations that list equity 

securities by establishing a uniform system for the 

selection and reservation of securities symbols. The 

Plan, among other things, sets forth the process for 

securing perpetual and limited-time reservations, 

the use of a waiting list, the right to reuse a symbol 

and the ability to request the release of a symbol. 

5The Plan Participants are BOX Exchange LLC, 

Cboe BZX Exchange, Inc., Cboe EDGA Exchange, 

Inc., CBOE EDGX Exchange, Inc., Cboe Exchange, 

Inc., Financial Industry Regulatory Authority, Inc., 

Investors Exchange LLC, Long-Term Stock 

Exchange, Inc., MEMX LLC, Miami International 

Securities Exchange, LLC, MIAX PEARL, LLC, 

Nasdaq, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq 

PHLX LLC, New York Stock Exchange LLC, NYSE 

American LLC, NYSE Arca, Inc., NYSE Chicago, 

Inc., and NYSE National, Inc. 

6See Securities Exchange Act Release No. 94351 

(March 2, 2022), 87 FR 13027 (March 8, 2022) 

(‘‘Amendment No. 4 Notice’’). The Commission 

received comment letters that are not germane to 

the Amendment and are available on the 

Commission’s website at: https://www.sec.gov/ 

comments/4-533/4-533.htm. 

7See Letter from Jeffrey S. Davis, Senior Vice 

President and Senior Deputy General Counsel, 

Nasdaq, to Vanessa Countryman, Secretary, 

Commission, dated April 13, 2022 (‘‘Modification 

Letter’’). In the Modification Letter, the Participants 

corrected the list of Participants that was submitted 

with the Amendment. The Plan submitted with the 

Amendment included two exchanges that are not 

currently Participants in the Plan. The Plan 

submitted with the Modification Letter reflects the 

current Participants in the Plan and made no other 

changes to the Amendment. 

8See Securities Exchange Act Release No. 58904, 

73 FR 67218 at 67222–23 (November 13, 2008) (File 

No. 4–533) (‘‘Symbology Plan Approval Order’’). 

disapproving the proposal for an 

additional 60 days. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to issue an order 

approving or disapproving the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change, as 

modified by Amendment No. 1, and the 

comments that have been submitted in 

connection therewith. Accordingly, the 

Commission, pursuant to Section 

19(b)(2) of the Act,11 designates August 

4, 2022, as the date by which the 

Commission should either approve or 

disapprove the proposed rule change 

(File No. SR–CboeBYX–2021–028), as 

modified by Amendment No. 1. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–12400 Filed 6–8–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95040; File No. 4–533] 

Joint Industry Plan; Order Approving 

Amendment No. 4 to the National 

Market System Plan for the Selection 

and Reservation of Securities Symbols 

Submitted by The Nasdaq Stock 

Market LLC, BOX Exchange LLC, Cboe 

BZX Exchange, Inc., Cboe EDGA 

Exchange, Inc., CBOE EDGX 

Exchange, Inc., Cboe Exchange, Inc., 

Financial Industry Regulatory 

Authority, Inc., Investors Exchange 

LLC, Long-Term Stock Exchange, Inc., 

MEMX LLC, Miami International 

Securities Exchange, LLC, MIAX 

PEARL, LLC, Nasdaq BX, Inc., Nasdaq 

ISE, LLC, Nasdaq PHLX LLC, New York 

Stock Exchange LLC, NYSE American 

LLC, NYSE Arca, Inc., NYSE Chicago, 

Inc., and NYSE National, Inc. 

June 3, 2022. 

I. Introduction 

On February 11, 2021,1 The Nasdaq 

Stock Market LLC (‘‘Nasdaq’’), on behalf 

of itself and the participants to the 

National Market System Plan for the 

Selection and Reservation of Securities 

Symbols (‘‘Symbology Plan’’ or ‘‘Plan’’), 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

to Section 11A of the Securities 

Exchange Act of 1934 (‘‘Act’’) 2 and Rule 

608 of Regulation National Market 

System (‘‘NMS’’) thereunder,3 a 

proposal to amend the Symbology 

Plan.4 The proposal represents the 

fourth substantive amendment to the 

Plan (‘‘Amendment’’) and reflects 

changes unanimously approved by the 

Plan participants (‘‘Participants’’).5

Amendment No. 4 was published for 

comment in the Federal Register on 

March 8, 2022.6 On April 13, 2022, 

Nasdaq submitted a letter to the 

Commission related to Amendment No. 

4, which corrected an error in the Plan 

document included in the original 

filing.7 This Order approves 

Amendment No. 4 to the Plan as 

reflected in the Modification Letter. 

II. Background and Description of the 

Proposal 

A. Background 

The Plan was created to establish a 

uniform system for the selection and 

reservation of securities symbols and 

sets forth, among other things, the 

process for securing symbol 

reservations, the use of a waiting list, 

the ability to request the release of a 

symbol, and the ability to reuse a 

symbol, provided that it does not create 

investor confusion. Currently, Section 

IV of the Plan outlines the procedures 

for the symbol reservation system, and 

provides Participants the ability to 

reserve 20 perpetual (‘‘List A’’) and 

1,500 limited-time (‘‘List B’’) 

reservations, for 1-, 2-, and 3-character 

symbols, on the one hand, and also for 

4- and 5-character symbols, on the 

other. For List B reservations, the Plan 

requires Plan Participants to have a 

reasonable basis to believe that it will 

use the symbol within 24 months in 

order to reserve a symbol, but does not 

include a requirement that such basis be 

furnished or that a symbol be reserved 

for a specific issuer. There is also a 

process for reserving symbols under the 

Plan, which provides for the use of a 

third-party processor and a symbol 

reservation database. The Plan also 

includes, among other things, 

provisions for the use of a waiting list, 

the right to reuse a symbol, the ability 

to request the release of a symbol, the 

terms of confidentiality, and the process 

for becoming a new Plan participant.8

B. Description of Proposal 

In Amendment No. 4, the Participants 

propose to modify the Plan in several 

aspects: (1) to require the release of all 

perpetual (List A) reservations, except 

for those used for test symbols; (2) to 

increase the number of List B symbols 

that can be reserved for 1-, 2-, and 3- 

character symbols and for 4- and 5- 

character symbols, respectively, from 

1,500 to 2,500 symbols; (3) to require a 

party making a List B reservation to 

specify confidentially an issuer 

associated with that reservation and to 

maintain documentation supporting that 

request; (4) to require List B reservations 

for exchange-traded products to be 

made at the request of the issuer (or its 

agent); (5) to require Participants to 

release any symbol that it no longer has 

a reasonable basis for believing that the 

issuer will list a security using the 

symbol; (6) to require a reservation for 

an issuer to be transferred to another 

Participant, if it decides to list on that 

Participant; (7) to prohibit the 

reservation of more than one symbol for 

a potential listing that is not an 

exchange-traded product; (8) to allow 

Participants who have reserved a 

symbol for one issuer to be on the 

waitlist for that symbol for another 

issuer; and (9) to eliminate the costs of 

entry for new Participants to the Plan, 

consistent with existing practice. In 

addition, Amendment No. 4 also 

includes several technical and 


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