39136 Federal Register / Vol. 87, No. 125 / Thursday, June 30, 2022 / Notices 

13 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

14 15 U.S.C. 78f(b)(5). 

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

16 Id. 

17 17 CFR 200.30–3(a)(12). 

securities exchange.13 In particular, the 

Commission finds that the proposal is 

consistent with Section 6(b)(5) of the 

Act,14 which requires that the rules of 

an exchange be 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 

represents that the proposed coefficients 

were calibrated to reflect the Exchange’s 

current activity and market structure 

and are based on an analysis of recent 

market data and on backtesting that 

indicates that the proposed quote 

stability coefficients and resulting 

updated quote stability formula and 

would more accurately identify if the 

PBBO is ‘‘crumbling’’ compared to the 

current quote stability coefficients. The 

Commission finds that the proposed 

rule change is consistent with the 

protection of investors and the public 

interest because it will modify the 

coefficients of the quote instability 

formula in a way that is reasonably 

designed to improve the effectiveness of 

the quote instability calculation in 

predicting periods of quote instability 

and to thereby enhance the effectiveness 

of Discretionary Pegged Orders against 

unfavorable executions during periods 

of quote instability. 

For the reasons discussed above, the 

Commission finds that this proposed 

rule change, as modified by Amendment 

No. 2, is consistent with the 

requirements of the Act. 

IV. Solicitation of Comments on 

Amendment No. 2 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether Amendment No. 2 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 No. SR– 

NYSEArca–2022–13 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 No. 

SR–NYSEArca–2022–13. The file 

numbers 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 will also 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 publicly available. All 

submissions should refer to File No. 

SR–NYSEArca–2022–13 and should be 

submitted on or before July 21, 2022. 

V. Accelerated Approval of Proposed 

Rule Change, as Modified by 

Amendment No. 2 

The Commission finds good cause to 

approve the proposed rule change, as 

modified by Amendment No. 2, prior to 

the thirtieth day after the date of 

publication of notice of the amended 

proposal in the Federal Register. In 

Amendment No. 2, the Exchange 

amended the proposal to: (1) provide 

additional explanation of and rationale 

for using Discretionary Pegged Orders; 

(2) provide additional explanation of the 

purpose of the proposed rule change; 

and (3) provide additional explanation 

regarding how the proposed quote 

instability coefficients were formulated 

and tested; and (4) state when the 

Exchange expects to implement the 

proposed change to the quote instability 

coefficients. Amendment No. 2 adds 

clarity and justification to the proposal 

and does not substantively alter the 

proposed rule change as described in 

the Notice. Accordingly, the 

Commission finds good cause, pursuant 

to Section 19(b)(2) of the Act,15 to 

approve the proposed rule change, as 

modified by Amendment No. 2, on an 

accelerated basis. 

VI. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,16 that the 

proposed rule change (SR–NYSEArca– 

2022–13), as modified by Amendment 

No. 2, be, and hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–13962 Filed 6–29–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Investment Company Act Release No. 

34636 

June 24, 2022. 

AGENCY: Securities and Exchange 

Commission (‘‘Commission’’ or ‘‘SEC’’) 

ACTION: Notice of applications for 

deregistration under Section 8(f) of the 

Investment Company Act of 1940. 

The following is a notice of 

applications for deregistration under 

section 8(f) of the Investment Company 

Act of 1940 for the month of June 2022. 

A copy of each application may be 

obtained via the Commission’s website 

by searching for the applicable file 

number listed below, or for an applicant 

using the Company name search field, 

on the SEC’s EDGAR system. The SEC’s 

EDGAR system may be searched at 

https://www.sec.gov/edgar/searchedgar/ 

legacy/companysearch.html. You may 

also call the SEC’s Public Reference 

Room at (202) 551–8090. An order 

granting each application will be issued 

unless the SEC orders a hearing. 

Interested persons may request a 

hearing on any application by emailing 

the SEC’s Secretary at SecretarysOffice@sec.gov and serving the relevant 

applicant with a copy of the request by 

email, if an email address is listed for 


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 125 / Thursday, June 30, 2022 / Notices 39137 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 95020 

(June 1, 2022), 87 FR 35034 (June 8, 2022) (SR– 

NYSECHX–2022–10) (‘‘Release No. 95020’’). 

the relevant applicant below, or 

personally or by mail, if a physical 

address is listed for the relevant 

applicant below. Hearing requests 

should be received by the SEC by 5:30 

p.m. on July 19, 2022, and should be 

accompanied by proof of service on 

applicants, in the form of an affidavit or, 

for lawyers, a certificate of service. 

Pursuant to Rule 0–5 under the Act, 

hearing requests should state the nature 

of the writer’s interest, any facts bearing 

upon the desirability of a hearing on the 

matter, the reason for the request, and 

the issues contested. Persons who wish 

to be notified of a hearing may request 

notification by writing to the 

Commission’s Secretary at SecretarysOffice@sec.gov. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. 

FOR FURTHER INFORMATION CONTACT: 

Shawn Davis, Assistant Director, at 

(202) 551–6413 or Chief Counsel’s 

Office at (202) 551–6821; SEC, Division 

of Investment Management, Chief 

Counsel’s Office, 100 F Street NE, 

Washington, DC 20549–8010. 

First Trust Senior Floating Rate 2022 

Target Term Fund [File No. 811–23199] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. On December 15, 

2021, applicant made liquidating 

distributions to its shareholders based 

on net asset value. Expenses of $4,111 

incurred in connection with the 

liquidation were paid by the applicant. 

Filing Date: The application was filed 

on May 26, 2022. 

Applicant’s Address: roykim@

chapman.com. 

Global High Income Fund Inc. [File No. 

811–07540] 

Summary: Applicant, a closed-end 

investment company, seeks an order 

declaring that it has ceased to be an 

investment company. On April 18, 

2016, and December 31, 2019, applicant 

made a liquidating distributions to its 

shareholders based on net asset value. 

Expenses of $83,629 incurred in 

connection with the liquidation were 

paid by the applicant. 

Filing Date: The application was filed 

on January 25, 2021. 

Applicant’s Address: stephen.cohen@

dechert.com. 

State Farm Variable Product Trust [File 

No. 811–08073] 

Summary: Applicant seeks an order 

declaring that it has ceased to be an 

investment company. The applicant has 

transferred its assets to BlackRock 

Variable Series Funds, Inc., and 

BlackRock Variable Series Funds II, Inc., 

and on October 29, 2018 made a final 

distribution to its shareholders based on 

net asset value. Expenses of 

$1,209,961.75 incurred in connection 

with the reorganization were paid by the 

applicant’s investment adviser. 

Filing Date: The application was filed 

on December 21, 2018, and amended on 

May 1, 2019, and March 15, 2022. 

Applicant’s Address: 

david.moore.ct95@statefarm.com. 

For the Commission, by the Division 

of Investment Management, pursuant to 

delegated authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–13951 Filed 6–29–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95157; File No. SR– 

NYSECHX–2022–13] 

Self-Regulatory Organizations; NYSE 

Chicago, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change for Certain NonSubstantive Clarifying Changes to 

Article 7, Rule 12 

June 24, 2022. 

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 June 21, 

2022, the NYSE Chicago, Inc. (‘‘NYSE 

Chicago’’ or the ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

organization. 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 certain nonsubstantive clarifying changes to Article 

7, Rule 12. The proposed rule change is 

available on the Exchange’s website at 

www.nyse.com, 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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes certain nonsubstantive clarifying changes to Article 

7, Rule 12 (Failure to Pay Fees). 

The Exchange recently adopted rules 

relating to investigation, discipline, 

sanction, and other procedural rules 

based on the rules based on the text of 

the NYSE Arca Rule 10.8000 and Rule 

10.9000 Series, with certain changes.3 In 

connection with the adoption of these 

new disciplinary rules, the Exchange 

made certain changes to Article 7, Rule 

12, which previously governed the nonpayment of any debt for Trading Permit 

fees, fines, transaction fees, or other 

sums owing the Exchange or its 

subsidiaries, to reflect that failure to pay 

any fine, sanction or cost levied in 

connection with a disciplinary action 

would be governed by Rule 10.8320 

(Payment of Fines, Other Monetary 

Sanctions, or Costs; Summary Action for 

Failure to Pay). Specifically, the 

Exchange added the following text to 

Article 7, Rule 12: 

Notwithstanding the foregoing, any failure 

to pay any fine, sanction or cost levied in 

connection with a disciplinary action shall 

be governed by Rule 10.8320. 

For the avoidance of doubt, and to 

clarify the application of Article 7, Rule 

12 and Rule 10.8320, the Exchange 

proposes to amend the above sentence 

in Article 7, Rule 12 as follows 

(proposed changes are italicized): 

Notwithstanding the foregoing, any failure 

to pay any fine, sanction or cost levied in 

connection with a disciplinary action 

initiated under Article 12 for which a 

decision was issued on or after [insert date] 

shall be governed by Rule 10.8320. For 


jspears on DSK121TN23PROD with NOTICES1