29308 Federal Register / Vol. 86, No. 103 / Tuesday, June 1, 2021 / Notices 

17 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4A Retail Order is an agency order that originates 

from a natural person and is submitted to the 

Exchange by an ETP Holder, provided that no 

change is made to the terms of the order to price 

or side of market and the order does not originate 

from a trading algorithm or any other computerized 

methodology. See Securities Exchange Act Release 

No. 67540 (July 30, 2012), 77 FR 46539 (August 3, 

2012) (SR–NYSEArca–2012–77). 

5All references to ETP Holders in connection 

with this proposed fee change include Market 

Makers. 

6The Exchange originally filed to amend the Fee 

Schedule on May 3, 2021 (SR–NYSEArca–2021–36). 

SR–NYSEArca–2021–36 was subsequently 

withdrawn and replaced by this filing. 

7See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005) 

(File No. S7–10–04) (Final Rule) (‘‘Regulation 

NMS’’). 

8See Securities Exchange Act Release No. 61358, 

75 FR 3594, 3597 (January 21, 2010) (File No. S7– 

02–10) (Concept Release on Equity Market 

Structure). 

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– 

CboeBZX–2021–041 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-CboeBZX–2021–041. 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–CboeBZX–2021–041 and 

should be submitted on or before June 

23, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–11408 Filed 5–28–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92016; File No. SR– 

NYSEARCA–2021–40] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend the NYSE Arca 

Equities Fees and Charges 

May 25, 2021. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’),2 and Rule 19b–4 thereunder,3

notice is hereby given that on May 11, 

2021, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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 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 to amend the 

NYSE Arca Equities Fees and Charges 

(‘‘Fee Schedule’’) to adopt reduced fees 

for Retail Orders that are executed in the 

Exchange’s opening and closing 

auctions. The Exchange proposes to 

implement the fee changes effective 

May 11, 2021. 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Fee Schedule to adopt reduced fees for 

Retail Orders 4 that are executed in the 

Exchange’s opening and closing 

auctions. 

The proposed changes respond to the 

current competitive environment where 

order flow providers have a choice of 

where to direct Retail Orders by offering 

further incentives for ETP Holders 5 to 

send such orders to the Exchange. 

The Exchange proposes to implement 

the fee changes effective May 11, 2021.6

Background 

As noted above, the Exchange 

operates in a highly competitive market. 

The Commission has repeatedly 

expressed its preference for competition 

over regulatory intervention in 

determining prices, products, and 

services in the securities markets. In 

Regulation NMS, the Commission 

highlighted the importance of market 

forces in determining prices and SRO 

revenues and, also, recognized that 

current regulation of the market system 

‘‘has been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 7

While Regulation NMS has enhanced 

competition, it has also fostered a 

‘‘fragmented’’ market structure where 

trading in a single stock can occur 

across multiple trading centers. When 

multiple trading centers compete for 

order flow in the same stock, the 

Commission has recognized that ‘‘such 

competition can lead to the 

fragmentation of order flow in that 

stock.’’ 8 Indeed, equity trading is 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 103 / Tuesday, June 1, 2021 / Notices 29309 

9See Cboe U.S. Equities Market Volume 

Summary, available at https://markets.cboe.com/us/ 

equities/market_share. See generally https://

www.sec.gov/fast-answers/ 

divisionsmarketregmrexchangesshtml.html. 

10See FINRA ATS Transparency Data, available 

at https://otctransparency.finra.org/ 

otctransparency/AtsIssueData. A list of alternative 

trading systems registered with the Commission is 

available at https://www.sec.gov/foia/docs/ 

atslist.htm. 

11See Cboe Global Markets U.S. Equities Market 

Volume Summary, available at http://

markets.cboe.com/us/equities/market_share/. 

12See id. 

13 15 U.S.C. 78f(b). 

14 15 U.S.C. 78f(b)(4) and (5). 

15See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496, 37499 (June 29, 2005). 

currently dispersed across 16 

exchanges,9 numerous alternative 

trading systems,10 and broker-dealer 

internalizers and wholesalers, all 

competing for order flow. Based on 

publicly-available information, no 

single exchange currently has more than 

17% market share.11 Therefore, no 

exchange possesses significant pricing 

power in the execution of equity order 

flow. More specifically, the Exchange 

currently has less than 10% market 

share of executed volume of equities 

trading.12

The Exchange believes that the evershifting market share among the 

exchanges from month to month 

demonstrates that market participants 

can move order flow, or discontinue or 

reduce use of certain categories of 

products. While it is not possible to 

know a firm’s reason for shifting order 

flow, the Exchange believes that one 

such reason is because of fee changes at 

any of the registered exchanges or nonexchange venues to which a firm routes 

order flow. The competition for Retail 

Orders is even more stark, particularly 

as it relates to exchange versus offexchange venues. 

The Exchange thus needs to compete 

in the first instance with non-exchange 

venues for Retail Order flow, and with 

the 16 other exchange venues for that 

Retail Order flow that is not directed 

off-exchange. Accordingly, competitive 

forces compel the Exchange to use 

exchange transaction fees and credits, 

particularly as they relate to competing 

for Retail Order flow, because market 

participants can readily trade on 

competing venues if they deem pricing 

levels at those other venues to be more 

favorable. 

Proposed Rule Change 

In response to this competitive 

environment, the Exchange proposes to 

adopt reduced fees for Retail Orders that 

are executed in the Exchange’s opening 

and closing auctions. Specifically, 

under the Basic rates section of the Fee 

Schedule, the Exchange currently 

charges a fee of $0.0015 per share for 

Market and Auction-Only Orders in 

Tape A, Tape B and Tape C securities 

executed in an Early Opening Auction, 

Core Open Auction or Trading Halt 

Auction with a cap of $20,000 per 

Equity Trading Permit ID. This fee also 

applies to Retail Orders that are 

executed in such auctions. To attract 

additional Retail Orders for execution in 

the Exchange’s opening auctions, the 

Exchange proposes to adopt a lower fee 

of $0.0005 per share for Market and 

Auction-Only Orders in Tape A, Tape B 

and Tape C securities that are 

designated as Retail Orders and 

executed in the Early Open Auction, 

Core Open Auction or Trading Halt 

Auction. 

Further, under the Basic rates section 

of the Fee Schedule, the Exchange 

currently charges a fee of $0.0012 per 

share for Market, Market-On-Close, 

Limit-On-Close, and Auction-Only 

Orders in Tape A, Tape B and Tape C 

securities executed in the Closing 

Auction. This fee also applies to Retail 

Orders executed in the Closing Auction. 

To attract additional Retail Orders for 

execution on the Exchange, the 

Exchange proposes to adopt a lower fee 

of $0.0008 per share for Market, MarketOn-Close, Limit-On-Close, and AuctionOnly Orders in Tape A, Tape B and 

Tape C securities that are designated as 

Retail Orders and executed in the 

Closing Auction. 

The Exchange is not proposing any 

change to the cap for Market and 

Auction-Only Orders executed in an 

Early Open Auction, Core Open Auction 

or Trading Halt Auction, which would 

remain at $20,000 per Equity Trading 

Permit ID. 

The purpose of the proposed rule 

change is to encourage even greater 

participation from ETP Holders and 

promote additional liquidity in Retail 

Orders. As described above, ETP 

Holders have a choice of where to send 

such orders. The Exchange believes that 

the proposed lower fees could lead to 

more ETP Holders choosing to route 

their Retail Orders to the Exchange for 

execution in the opening and closing 

auctions rather than to a competing 

exchange. 

The Exchange does not know how 

much Retail Order flow ETP Holders 

choose to route to other exchanges or to 

off-exchange venues. Without having a 

view of ETP Holders’ activity on other 

markets and off-exchange venues, the 

Exchange has no way of knowing 

whether this proposed rule change 

would result in any ETP Holders 

sending more of their Retail Orders to 

the Exchange. The Exchange cannot 

predict with certainty how many ETP 

Holders would avail themselves of this 

opportunity but additional Retail Orders 

would benefit all market participants 

because it would provide greater 

execution opportunities in the 

Exchange’s opening and closing 

auctions. 

The proposed rule change is designed 

to be available to all ETP Holders on the 

Exchange and is intended to provide 

ETP Holders a greater incentive to direct 

more of their Retail Orders for execution 

in the Exchange’s opening and closing 

auctions. 

The proposed changes are not 

otherwise intended to address any other 

issues, and the Exchange is not aware of 

any significant problems that market 

participants would have in complying 

with the proposed changes. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,13 in general, and 

furthers the objectives of Sections 

6(b)(4) and (5) of the Act,14 in particular, 

because it provides for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members, 

issuers and other persons using its 

facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Proposed Fee Change Is Reasonable 

As discussed above, the Exchange 

operates in a highly fragmented and 

competitive market. The Commission 

has repeatedly expressed its preference 

for competition over regulatory 

intervention in determining prices, 

products, and services in the securities 

markets. Specifically, in Regulation 

NMS, the Commission highlighted the 

importance of market forces in 

determining prices and SRO revenues 

and, also, recognized that current 

regulation of the market system ‘‘has 

been remarkably successful in 

promoting market competition in its 

broader forms that are most important to 

investors and listed companies.’’ 15

The Exchange believes that the evershifting market share among the 

exchanges from month to month 

demonstrates that market participants 

can shift order flow, or discontinue to 

[sic] reduce use of certain categories of 

products, in response to fee changes. 

With respect to Retail Orders, ETP 

Holders can choose from any one of the 

16 currently operating registered 

exchanges, and numerous off-exchange 

venues, to route such order flow. 

Accordingly, competitive forces 


jbell on DSKJLSW7X2PROD with NOTICES
29310 Federal Register / Vol. 86, No. 103 / Tuesday, June 1, 2021 / Notices 

16See Nasdaq Price List, NASDAQ Crossing 

Network, at http://nasdaqtrader.com/ 

Trader.aspx?id=PriceListTrading2. 

17 15 U.S.C. 78f(b)(8). 

18See Securities Exchange Act Release No. 51808, 

70 FR 37495, 37498–99 (June 29, 2005) (S7–10–04) 

(Final Rule). 

reasonably constrain exchange 

transaction fees that relate to Retail 

Orders on an exchange. Stated 

otherwise, changes to exchange 

transaction fees can have a direct effect 

on the ability of an exchange to compete 

for order flow. 

Given this competitive environment, 

the proposal represents a reasonable 

attempt to attract additional Retail 

Orders to the Exchange. 

The Exchange believes that the 

proposed change to adopt lower fees for 

Retail Orders executed in the 

Exchange’s opening and closing 

auctions is reasonable because the lower 

fees would encourage ETP Holders to 

send a greater number of their Retail 

Orders for execution on the Exchange. 

As noted above, the Exchange operates 

in a highly competitive environment, 

particularly for attracting Retail Order 

flow. The Exchange believes it is 

reasonable to offer reduced fees for 

Retail Orders in the opening and closing 

auctions. The Exchange believes the 

proposed change is also reasonable 

because it is designed to attract higher 

volumes of Retail Orders transacted on 

the Exchange by ETP Holders which 

would benefit all market participants by 

offering greater price discovery and an 

increased opportunity to trade on the 

Exchange. 

On the backdrop of the competitive 

environment in which the Exchange 

currently operates, the proposed rule 

change is a reasonable attempt to 

increase liquidity on the Exchange and 

improve the Exchange’s market share 

relative to its competitors. 

The Proposed Fee Change Is an 

Equitable Allocation of Fees and Credits 

The Exchange believes its proposal is 

an equitable allocation of its fees among 

its market participants because all ETP 

Holders that participate on the 

Exchange may qualify for the proposed 

reduced fee if they elect to send their 

Retail Orders for execution in the 

Exchange’s opening and closing 

auctions. Without having a view of ETP 

Holders’ activity on other markets and 

off-exchange venues, the Exchange has 

no way of knowing whether this 

proposed rule change would result in 

any ETP Holder sending more of their 

Retail Orders to the Exchange. The 

Exchange cannot predict with certainty 

how many ETP Holders would avail 

themselves of this opportunity but 

additional Retail Orders would benefit 

all market participants because it would 

provide greater execution opportunities 

in the Exchange’s opening and closing 

auctions. The Exchange anticipates that 

multiple ETP Holders that engage in 

retail trading activity would endeavor to 

send more of their Retail Orders for 

execution in the Exchange’s opening 

and closing auctions and pay the 

proposed lower fee. 

Further, given the competitive market 

for attracting Retail Order flow, the 

Exchange notes that with this proposed 

rule change, the Exchange’s pricing for 

Retail Orders that are executed in the 

opening and closing auctions would be 

lower that fees charged by other 

exchanges that the Exchange competes 

with for order flow. For example, the 

Nasdaq Stock Market LLC (‘‘Nasdaq’’) 

charges its members a fee of $0.0015 per 

share per share for orders, including 

Retail Orders, that are executed in the 

Nasdaq Opening Cross, and a fee that 

ranges between $0.0008 per share and 

$0.0016 per share for orders, including 

Retail Orders, that are executed in the 

Nasdaq Closing Cross.16

The Exchange further believes that the 

proposed change is equitable because it 

is reasonably related to the value to the 

Exchange’s market quality associated 

with higher volume in Retail Orders. 

The Exchange believes that recalibrating 

the fees charged for execution of Retail 

Orders will continue to attract order 

flow and liquidity to the Exchange, 

thereby contributing to price discovery 

on the Exchange and benefiting 

investors generally. 

The Exchange believes that the 

proposed rule change is equitable 

because maintaining or increasing the 

proportion of Retail Orders in exchangelisted securities that are executed on a 

registered national securities exchange 

(rather than relying on certain available 

off-exchange execution methods) would 

contribute to investors’ confidence in 

the fairness of their transactions and 

would benefit all investors by 

deepening the Exchange’s liquidity 

pool, supporting the quality of price 

discovery, promoting market 

transparency and improving investor 

protection. 

The Proposed Fee Change Is Not 

Unfairly Discriminatory 

The Exchange believes that the 

proposal is not unfairly discriminatory. 

In the prevailing competitive 

environment, ETP Holders are free to 

disfavor the Exchange’s pricing if they 

believe that alternatives offer them 

better value. 

The Exchange believes that the 

proposed change is not unfairly 

discriminatory because it would apply 

to all ETP Holders on an equal and nondiscriminatory basis. The Exchange 

believes that the proposed rule change 

is not unfairly discriminatory because 

maintaining or increasing the 

proportion of Retail Orders in exchangelisted securities that are executed on a 

registered national securities exchange 

(rather than relying on certain available 

off-exchange execution methods) would 

contribute to investors’ confidence in 

the fairness of their transactions and 

would benefit all investors by 

deepening the Exchange’s liquidity 

pool, supporting the quality of price 

discovery, promoting market 

transparency and improving investor 

protection. This aspect of the proposed 

rule change also is consistent with the 

Act because all similarly situated ETP 

Holders would pay the same fee for 

Retail Orders executed in the 

Exchange’s opening and closing 

auctions. Lastly, the submission of 

Retail Orders is optional for ETP 

Holders in that they could choose 

whether to submit Retail Orders and, if 

they do, the extent of its activity in this 

regard. The Exchange believes that it is 

subject to significant competitive forces, 

as described below in the Exchange’s 

statement regarding the burden on 

competition. 

For the foregoing reasons, the 

Exchange believes that the proposal is 

consistent with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,17 the Exchange believes that the 

proposed rule change would not impose 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. Instead, as 

discussed above, the Exchange believes 

that the proposed fee change would 

encourage the submission of additional 

liquidity to a public exchange, thereby 

promoting market depth, price 

discovery and transparency and 

enhancing order execution 

opportunities for ETP Holders. As a 

result, the Exchange believes that the 

proposed change furthers the 

Commission’s goal in adopting 

Regulation NMS of fostering integrated 

competition among orders, which 

promotes ‘‘more efficient pricing of 

individual stocks for all types of orders, 

large and small.’’ 18

Intramarket Competition. The 

Exchange believes the proposed 

amendments to its Fee Schedule would 

not impose any burden on competition 

that is not necessary or appropriate in 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 103 / Tuesday, June 1, 2021 / Notices 29311 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(2). 21 15 U.S.C. 78s(b)(2)(B). 22 17 CFR 200.30–3(a)(12). 

furtherance of the purposes of the Act. 

The proposed changes are designed to 

attract additional Retail Orders to the 

Exchange, in particular for execution in 

the Exchange’s opening and closing 

auctions. The Exchange believes that the 

proposed lower fee would incentivize 

market participants to direct their Retail 

Orders to the Exchange. Greater overall 

order flow, trading opportunities, and 

pricing transparency benefits all market 

participants on the Exchange by 

enhancing market quality and 

continuing to encourage ETP Holders to 

send orders, thereby contributing 

towards a robust and well-balanced 

market ecosystem. 

Intermarket Competition. The 

Exchange operates in a highly 

competitive market in which market 

participants can readily choose to send 

their orders to other exchange and offexchange venues if they deem fee levels 

at those other venues to be more 

favorable. As noted above, the 

Exchange’s market share of intraday 

trading (i.e., excluding auctions) is 

currently less than 10%. In such an 

environment, the Exchange must 

continually adjust its fees and rebates to 

remain competitive with other 

exchanges and with off-exchange 

venues. Because competitors are free to 

modify their own fees and credits in 

response, and because market 

participants may readily adjust their 

order routing practices, the Exchange 

does not believe its proposed fee change 

can impose any burden on intermarket 

competition. 

The Exchange believes that the 

proposed change could promote 

competition between the Exchange and 

other execution venues, including those 

that currently offer similar order types 

and comparable transaction pricing, by 

encouraging additional orders to be sent 

to the Exchange for execution. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 19 of the Act and 

subparagraph (f)(2) of Rule 19b–4 20

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such 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 

under Section 19(b)(2)(B) 21 of the Act 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– 

NYSEARCA–2021–40 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–NYSEARCA–2021–40. 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–NYSEARCA–2021–40, and 

should be submitted on or before June 

22, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–11409 Filed 5–28–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

TIME AND DATE: 3:15 p.m. on Thursday, 

June 3, 2021. 

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; 


jbell on DSKJLSW7X2PROD with NOTICES