Federal Register / Vol. 87, No. 135 / Friday, July 15, 2022 / Notices 42515 

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. 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). 

8Amendment No. 1 is available at https://

www.sec.gov/comments/sr-cboebyx-2021-028/ 

srcboebyx2021028-20121765-273901.pdf. 

9See Securities Exchange Act Release No. 94787 

(April 22, 2022), 87 FR 25309. 

10See Securities Exchange Act Release No. 95035, 

87 FR 35269 (June 9, 2022). 

11 17 CFR 200.30–3(a)(12). 

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. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 95239; File No. SR–CboeBYX– 

2021–028] 

Self-Regulatory Organizations; Cboe 

BYX Exchange, Inc.; Notice of 

Withdrawal of a Proposed Rule 

Change, as Modified by Amendment 

No. 1, To Introduce a New Data 

Product To Be Known as the Short 

Volume Report 

July 11, 2022. 

On November 22, 2021, Cboe BYX 

Exchange, Inc. (‘‘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.8 The 

proposed rule change, as modified by 

Amendment No. 1, was published for 

comment in the Federal Register on 

April 28, 2022.9 On June 3, 2022, the 

Commission extended the period for 

consideration of the proposed rule 

change to August 4, 2022.10 On June 28, 

2022, the Exchange withdrew the 

proposed rule change, as modified by 

Amendment No. 1 (SR–CboeBYX–2021– 

028). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15122 Filed 7–14–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–147, OMB Control No. 

3235–0131] 

Submission for OMB Review; 

Comment Request Extension: Rule 

17a–7 

Upon Written Request, Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the 

Securities and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 17a–7 (17 CFR 240.17a–7) under 

the Securities Exchange Act of 1934 (15 

U.S.C. 78a et seq.). 

Rule 17a–7 requires a non-resident 

broker-dealer (generally, a broker-dealer 

with its principal place of business in a 

place not subject to the jurisdiction of 

the United States) registered or applying 

for registration pursuant to Section 15 of 

the Exchange Act to maintain—in the 

United States—complete and current 

copies of books and records required to 

be maintained under any rule adopted 

under the Exchange Act and furnish to 

the Commission a written notice 

specifying the address where the copies 

are located. Alternatively, Rule 17a–7 

provides that non-resident brokerdealers may file with the Commission a 

written undertaking to furnish the 

requisite books and records to the 

Commission upon demand within 14 

days of the demand. 

The Commission estimates that there 

are approximately 30 non-resident 

broker-dealers. Based on the 

Commission’s experience, the 

Commission estimates that the average 

amount of time necessary to comply 

with Rule 17a–7 is one hour per year 

per respondent. Accordingly, the 

Commission estimates that the total 

industry-wide reporting burden is 

approximately 30 hours per year. 

Assuming an average cost per hour of 

approximately $319 for a compliance 

manager, the total internal cost of 

compliance for the respondents is 

approximately $9,570 per year.1

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. 

The public may view background 

documentation for this information 

collection at the following website: 

www.reginfo.gov. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. Written comments and 

recommendations for the proposed 

information collection should be sent by 

August 15, 2022 to (i) www.reginfo.gov/ 

public/do/PRAMain and (ii) David 

Bottom, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o John Pezzullo, 100 F 

Street NE, Washington, DC 20549, or by 

sending an email to: PRA_Mailbox@

sec.gov. 

Dated: July 11, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15128 Filed 7–14–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95238; File No. SR–ISE– 

2022–14] 

Self-Regulatory Organizations; Nasdaq 

ISE, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Options 4A, 

Section 12 and Options 7, Section 3 

July 11, 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 July 1, 

2022, Nasdaq ISE, LLC (‘‘ISE’’ or 


jspears on DSK121TN23PROD with NOTICES1
42516 Federal Register / Vol. 87, No. 135 / Friday, July 15, 2022 / Notices 

3See Securities Exchange Act Release Nos. 71034 

(December 11, 2013), 78 FR 76363 (December 17, 

2013) (SR–ISE–2013–69) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

to the Short Term Option Series Program). 

4See Phlx Options 4A, Section 12(b)(4) and Cboe 

Exchange, Inc. Rules 4.5 and 4.13. See also 

Securities Exchange Act Release No. 95077 (June 9, 

2022), 87 FR 36188 (June 15, 2022) (Notice of Filing 

and Immediate Effectiveness of Proposed Rule 

Change To Amend Options 4A, Section 12, Terms 

of Index Options Contracts). 

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

6 15 U.S.C. 78f(b)(5). 

7See Securities Exchange Act Release Nos. 71034 

(December 11, 2013), 78 FR 76363 (December 17, 

2013) (SR–ISE–2013–69) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

to the Short Term Option Series Program). 

‘‘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 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 proposes to amend 

certain rule text within Options 4A, 

Section 12, Terms of Index Options 

Contracts, and Options 7, Section 3, 

Regular Order Fees and Rebates. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/ise/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 amend 

certain rule text within Options 4A, 

Section 12, Terms of Index Options 

Contracts, related to the Short Term 

Option Series Program, and update the 

Pricing Schedule to replace references 

to the symbol ‘‘FB’’ with ‘‘META’’ 

within Options 7, Section 3, Regular 

Order Fees and Rebates. Each change is 

described below. 

Options 4A, Section 12 

In 2013, ISE amended the Short Term 

Option Series Program for equity 

options within Rule 504 (currently 

Options 4, Section 5) to change the 

number of currently listed option 

classes on which Short Term Option 

Series may be opened on any Short 

Term Option Opening Date from thirty 

to fifty options classes.3 At that time, the 

Exchange neglected to update the index 

options rules to make similar changes to 

the Short Term Option Series Program 

given that the amount of options classes 

that may participate in the Short Term 

Option Series Program is aggregated 

between equity options and index 

options and is not apportioned between 

equity and index options. 

Today, Supplementary Material .01(a) 

to Options 4A, Section 12 provides, 

Classes. The Exchange may select up to thirty 

(30) currently listed option classes on which 

Short Term Option Series may be opened on 

any Short Term Option Opening Date. In 

addition to the 30 option class restriction, the 

Exchange may also list Short Term Option 

Series on any option classes that are selected 

by other securities exchanges that employ a 

similar program under their respective rules. 

For each index option class eligible for 

participation in the Short Term Option Series 

Program, the Exchange may open up to 30 

Short Term Option Series on index options 

for each expiration date in that class. The 

Exchange may also open Short Term Option 

Series that are opened by other securities 

exchanges in option classes selected by such 

exchanges under their respective short term 

option rules. 

At this time, the Exchange proposes to 

amend Supplementary Material .01(a) to 

Options 4A, Section 12 to increase the 

number of currently listed options 

classes on which Short Term Option 

Series may be opened on any Short 

Term Option Opening Date from thirty 

to fifty options classes for index options. 

The Exchange also proposes to add the 

word ‘‘thirty’’ before the number ‘‘30’’ 

and place the number 30 in parentheses. 

These amendments would align the 

limitations within Supplementary 

Material .01(a) to Options 4A, Section 

12 regarding index options with those 

currently within Supplementary .03(a) 

to Options 4, Section 5 regarding equity 

options. 

As noted above, this amendment will 

not result in a greater number of listings 

in the Short Term Option Series 

Program because the amount of options 

classes that may participate in the Short 

Term Option Series Program is 

aggregated between equity options and 

index options and is not apportioned 

between equity and index options. 

Amending Supplementary Material 

.01(a) to Options 4A, Section 12 to 

conform to the limitations provided 

within Supplementary .03(a) to Options 

4, Section 5 will avoid confusion by 

making clear the aggregate limitations 

within equity and index options for 

listing Short Term Option Series. Today, 

Nasdaq Phlx LLC (‘Phlx’’) and Cboe 

Exchange, Inc. (‘‘Cboe’’) have similar 

limitations within their equity and 

index Short Term Option Series 

Program.4

Options 7, Section 3 

On June 9, 2022 Meta Platforms, Inc. 

began trading under its new stock 

symbol, ‘‘META’’, replacing its previous 

ticker symbol, ‘‘FB’’. At this time, the 

Exchange proposes to replace references 

to the symbol ‘‘FB’’ with ‘‘META’’ 

within Options 7, Section 3, Regular 

Order Fees and Rebates. 

2. Statutory Basis 

The Exchange believes that its 

proposal 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 

promote just and equitable principles of 

trade, 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 4A, Section 12 

In 2013, ISE amended the Short Term 

Option Series Program for equity 

options within Rule 504 (currently 

Options 4, Section 5) to change the 

number of currently listed option 

classes on which Short Term Option 

Series may be opened on any Short 

Term Option Opening Date from thirty 

to fifty options classes.7 At that time, the 

Exchange neglected to update the index 

options rules to make similar changes to 

the Short Term Option Series Program 

given that the amount of options classes 

that may participate in the Short Term 

Option Series Program is aggregated 

between equity options and index 

options and is not apportioned between 

equity and index options. Amending 

Supplementary Material .01(a) to 

Options 4A, Section 12 to conform to 

the limitations provided within 

Supplementary .03(a) to Options 4, 

Section 5 will avoid confusion by 

making clear the aggregate limitations 

within equity and index options for 


jspears on DSK121TN23PROD with NOTICES1
Federal Register / Vol. 87, No. 135 / Friday, July 15, 2022 / Notices 42517 

8See note 4 above. 

9See note 4 above. 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). In addition, Rule19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

give the Commission written notice of its intent to 

file the proposed rule change, along with a brief 

description and text of 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. 

12 17 CFR 240.19b–4(f)(6). 

13 17 CFR 240.19b–4(f)(6)(iii). 

14For purposes only of waiving the 30-day 

operative delay, the Commission also has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

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

listing Short Term Option Series. Also, 

aligning the limitations within 

Supplementary Material .01(a) to 

Options 4A, Section 12 with those 

currently within Supplementary .03(a) 

to Options 4, Section 5 will not result 

in a greater number of listings in the 

Short Term Option Series Program 

because the amount of options classes 

that may participate in the Short Term 

Option Series Program is aggregated 

between equity options and index 

options and is not apportioned between 

equity and index options. Today, Phlx 

and Cboe have similar limitations 

within their equity and index Short 

Term Option Series Program.8

Options 7, Section 3 

The Exchange’s proposal to update 

references to the symbol ‘‘FB’’ to 

‘‘META’’ within the Pricing Schedule at 

Options 7, Section 3, Regular Order Fees 

and Rebates, is consistent with the Act. 

This amendment will make clear that 

the symbol ‘‘META’’ continues to be 

subject to the pricing noted with respect 

to the symbol ‘‘FB’’ within Options 7, 

Section 3. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

Options 4A, Section 12 

Amending Supplementary Material 

.01(a) to Options 4A, Section 12 to 

conform to the limitations provided 

within Supplementary .03(a) to Options 

4, Section 5 does not impose an undue 

burden on competition because the 

same limitations apply today to other 

options exchanges. Today, Phlx and 

Cboe have similar limitations within 

their equity and index Short Term 

Option Series Program.9

Options 7, Section 3 

The Exchange’s proposal to update 

references to the symbol ‘‘FB’’ to 

‘‘META’’ within the Pricing Schedule at 

Options 7, Section 3, Regular Order Fees 

and Rebates, does not impose an undue 

burden on competition as the proposal 

does not amend the current pricing. 

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 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 10 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.11

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 12 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 13

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The Exchange has asked 

the Commission to waive the 30-day 

operative delay so that it may 

immediately amend its Pricing Schedule 

to update references to the symbol ‘‘FB’’ 

to ‘‘META’’ within Options 7, Section 3, 

Regular Order Fees and Rebates, to 

avoid confusion as to the pricing of the 

symbol ‘‘META.’’ The Commission 

believes that waiving the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest as the proposed rule change 

does not raise any new or novel issues. 

Accordingly, the Commission hereby 

waives the operative delay and 

designates the proposed rule change 

operative upon filing.14

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– 

ISE–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–ISE–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–ISE–2022–14, and should 

be submitted on or before August 5, 

2022. 


jspears on DSK121TN23PROD with NOTICES1
42518 Federal Register / Vol. 87, No. 135 / Friday, July 15, 2022 / Notices 

15 17 CFR 200.30–3(a)(12), (59). 

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

2 17 CFR 240.19b–4. 

3Retail Orders shall mean an order type with a 

Non-Display Order Attribute submitted to the 

Exchange by a Retail Member Organization (as 

defined in Rule 4780). A Retail Order must be an 

agency Order, or riskless principal Order that 

satisfies the criteria of FINRA Rule 5320.03. The 

Retail Order must reflect trading interest of a 

natural person with no change made to the terms 

of the underlying order of the natural person with 

respect to price (except in the case of a market order 

that is changed to a marketable limit order) or side 

of market and that does not originate from a trading 

algorithm or any other computerized methodology. 

See Rule 4702(b)(6). 

4Retail Price Improving (‘‘RPI’’) Orders shall 

mean an Order Type with a Non-Display Order 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15121 Filed 7–14–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Investment Company Act Release 

No.34645; File No. 812–15283] 

Cypress Creek Private Strategies 

Master Fund, L.P., et al. 

July 11, 2022. 

AGENCY: Securities and Exchange 

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

ACTION: Notice. 

Notice of application for an order 

(‘‘Order’’) under sections 17(d) and 57(i) 

of the Investment Company Act of 1940 

(the ‘‘Act’’) and rule 17d–1 under the 

Act to permit certain joint transactions 

otherwise prohibited by sections 17(d) 

and 57(a)(4) of the Act and rule 17d–1 

under the Act. 

SUMMARY OF APPLICATION: Applicants 

request an order to permit certain 

business development companies and 

closed-end management investment 

companies to co-invest in portfolio 

companies with certain affiliated 

investment entities. 

APPLICANTS: Cypress Creek Private 

Strategies Master Fund, L.P., 

Endowment Advisers, L.P., d/b/a 

Cypress Creek Partners, CCP Coastal 

Redwood Fund, LP, CCP Sierra 

Redwood Fund, LP, and Marinas I SPV, 

LLC. 

FILING DATES: The application was filed 

on November 16, 2021 and amended on 

December 8, 2021, May 13, 2022 and 

June 27, 2022. 

HEARING OR NOTIFICATION OF HEARING: An 

order granting the requested relief will 

be issued unless the Commission orders 

a hearing. Interested persons may 

request a hearing on any application by 

emailing the SEC’s Secretary at 

Secretarys-Office@sec.gov and serving 

the applicants with a copy of the request 

by email, if an email address is listed for 

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 Commission 

by 5:30 p.m. on August 5, 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 

emailing the Commission’s Secretary at 

Secretarys-Office@sec.gov. 

ADDRESSES: The Commission: 

Secretarys-Office@sec.gov. Applicants: 

Benjamin Murray, Benjamin.murray@

cypresscreekpartners.com and George J. 

Zornada, George.Zornada@klgates.com. 

FOR FURTHER INFORMATION CONTACT: 

Christopher D. Carlson, Senior Counsel, 

or Trace W. Rakestraw, Branch Chief, at 

(202) 551–6825 (Division of Investment 

Management, Chief Counsel’s Office). 

SUPPLEMENTARY INFORMATION: For 

applicants’ representations, legal 

analysis, and conditions, please refer to 

applicants’ third amended and restated 

application, dated June 27, 2022, which 

may be obtained via the Commission’s 

website by searching for the file number 

at the top of this document, 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 http://www.sec.gov/ 

edgar/searchedgar/legacy/ 

companysearch.html. You may also call 

the SEC’s Public Reference Room at 

(202) 551–8090. 

For the Commission, by the Division of 

Investment Management, under delegated 

authority. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–15133 Filed 7–14–22; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–95240; File No. SR–BX– 

2022–010] 

Self-Regulatory Organizations; Nasdaq 

BX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend the 

Exchange’s Transaction Credits in 

Equity 7, Section 118(e) 

July 11, 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 July 1, 

2022, Nasdaq BX, Inc. (‘‘BX’’ 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. 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 amend the 

Exchange’s transaction credits, at Equity 

7, Section 118(e), as described further 

below. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/bx/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 operates on the ‘‘takermaker’’ model, whereby it generally 

pays credits to members that take 

liquidity and charges fees to members 

that provide liquidity. Currently, the 

Exchange has a schedule, at Equity 7, 

Section 118(e), which consists of several 

different credits and fees for Retail 

Orders 3 and Retail Price Improvement 

Orders 4 under Rule 4780 (Retail Price 

Improvement Program). 


jspears on DSK121TN23PROD with NOTICES1