Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices 31351 

13 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. 

4The Exchange originally filed to amend the Fee 

Schedule on May 3, 2021 (SR–NYSEAmer–2021– 

25), then withdrew and refiled on May 12, 2021 

(SR–NYSEAmer–2021–27) and May 21, 2021 (SR– 

NYSEAmer–2021–28), which latter filing the 

Exchange withdrew on June 2, 2021. 

5See, e.g., Nasdaq PHLX LLC (‘‘Phlx’’) Pricing 

Schedule, available at: https://

listingcenter.nasdaq.com/rulebook/phlx/rules/ 

Phlx%20Options%207 (providing $0.35 per 

contract rate for manual transactions by market 

makers); Cboe Exchange, Inc. (‘‘Cboe’’) Fee 

Schedule, available at: https://cdn.cboe.com/ 

resources/membership/Cboe_FeeSchedule.pdf 

(providing $0.35 per contract rate for manual 

transactions by market makers). 

6See Fee Schedule, Section III.C. (setting forth 

the Rights Fee assessed on each issue in a 

Specialist’s allocation, with rates based on the 

Average National Daily Customer Contracts). 

7See Fee Schedule, Section I.D. 

8Based on the proposed $0.35 and $0.30 per 

contract rates for Market Maker and Specialist 

Manual transactions, respectively, Market Makers 

who participate in the Prepayment Program would, 

as proposed, receive a discounted rate of $0.33 per 

contract on Manual transactions, and Specialists 

who participate in the Prepayment Program would 

receive a discounted rate of $0.29 per contract on 

Manual transactions. 

9 15 U.S.C. 78f(b). 

10 15 U.S.C. 78f(b)(4) and (5). 

publicly. All submissions should refer 

to File Number SR–ICEEU–2021–013 

and should be submitted on or before 

July 2, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–12247 Filed 6–10–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92122; File No. SR– 

NYSEAMER–2021–30] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Modify the NYSE 

American Options Fee Schedule 

June 7, 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 June 2, 

2021, NYSE American LLC (‘‘NYSE 

American’’ 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 selfregulatory 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 modify the 

NYSE American Options Fee Schedule 

(‘‘Fee Schedule’’) regarding the charges 

applicable to Manual transactions by 

NYSE American Options Market 

Makers, Specialists, and e-Specialists. 

The Exchange proposes to implement 

the fee change effective June 2, 2021.4

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 purpose of this filing is to modify 

Section I.A. of the Fee Schedule 

regarding the charges for Manual 

transactions by NYSE American Options 

Market Makers, Specialists, and eSpecialists. Currently, NYSE American 

Options Market Makers (‘‘Market 

Makers’’) are charged $0.25 per contract 

for Manual transactions; Specialists and 

e-Specialists (collectively, ‘‘Specialists’’) 

are charged $0.18 per contract for 

Manual transactions. The Exchange 

proposes to modify the rates charged for 

Manual transactions to $0.35 per 

contract for Market Makers and $0.30 

per contract for Specialists. The 

proposed rate for Market Makers is 

competitive and intended to align the 

Exchange’s fees for Manual transactions 

by Market Makers with those charged by 

other markets.5 The proposed rate for 

Specialists would reduce the existing 

disparity between rates charged to 

Specialists and Market Makers from 

seven cents ($0.07) to five ($0.05), 

which disparity the Exchange believes 

continues to be justified given the 

additional fees imposed on Specialists.6

The Exchange also proposes to modify 

Footnote 6 to Section 1.A. of the Fee 

Schedule, which provides that 

participants in the Prepayment 

Program 7 will pay reduced rates for 

Manual transactions. Specifically, the 

Exchange proposes to modify Footnote 

6 to clarify that Market Makers and 

Specialists who participate in the 

Prepayment Program will receive a per 

contract discount on Manual 

transactions, instead of setting forth a 

specific per contract charge. Currently, 

Footnote 6 provides that Market Makers 

who participate in the Prepayment 

Program are charged $0.23 per contract 

for Manual transactions (representing a 

$0.02 discount on the current $0.25 per 

contract rate applicable to Market 

Makers), and Specialists who participate 

in the Prepayment Program are charged 

$0.17 per contract for Manual 

transactions (which represents a $0.01 

discount on the current $0.18 per 

contract rate applicable to Specialists). 

The Exchange proposes to revise this 

footnote to specify that Market Makers 

that participate in the Prepayment 

Program will receive a $0.02 discount 

on the per contract rate for Manual 

transactions, and Specialists that 

participate in the Prepayment Program 

will receive a $0.01 discount on the per 

contract rate for Manual transactions.8

The Exchange proposes this 

modification to the Fee Schedule to 

clarify the nature of the discount 

available to Market Makers and 

Specialists who participate in the 

Prepayment Program and to simplify the 

Fee Schedule in the event of any future 

changes to the rates applicable to 

Manual transactions by Market Makers 

and/or Specialists. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,9 in general, and 

furthers the objectives of Sections 

6(b)(4) and (5) of the Act,10 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 Rule Change Is 

Reasonable 

The Exchange operates in a highly 

competitive market. The Commission 

has repeatedly expressed its preference 


jbell on DSKJLSW7X2PROD with NOTICES
31352 Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices 

11See Securities Exchange Act Release No. 51808 

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

(S7–10–04) (‘‘Reg NMS Adopting Release’’). 

12The OCC publishes options and futures volume 

in a variety of formats, including daily and monthly 

volume by exchange, available here: https://

www.theocc.com/Market-Data/Market-DataReports/Volume-and-Open-Interest/MonthlyWeekly-Volume-Statistics. 

13Based on a compilation of OCC data for 

monthly volume of equity-based options and 

monthly volume of ETF-based options, see id., the 

Exchange’s market share in multiply-listed equity 

and ETF options increased slightly from 7.89% for 

the month of March 2020 to 8.63% for the month 

of March 2021. 

14See supra note 5. 

15See supra note 6. 

16The Exchange does not impose any fee on 

Manual transactions by Customers but does charge 

$0.25 per contract for Manual transactions by 

Firms, Broker-Dealers and Professional Customers, 

which rates are consistent with fees charged these 

market participants on other exchanges. See, e.g., 

supra note 5, PHLX Pricing Schedule and Cboe Fee 

Schedule (both exchanges imposing no charge for 

manual transactions by customers and imposing a 

$0.25 per contract rate for manual transactions by 

firms, broker-dealers and professional customers). 

17See Fee Schedule, Section III.A (regarding ATP 

fees for Floor Market Makers); see also, e.g., Notice 

of Filing and Immediate Effectiveness of Proposed 

Change to Amend the NYSE American Options Fee 

Schedule, Securities Exchange Act Release No. 

90193 (October 15, 2020), 85 FR 67069 (October 21, 

2020) (SR–NYSEAMER–2020–76) (reducing the cap 

on strategy executions from $1,000 to $200 for ATP 

Holders that execute at least 25,000 monthly 

billable contract sides in Strategy Executions) and 

Fee Schedule, Section I.J (Strategy Execution Fee 

Cap). While the reduction to the cap on Strategy 

Executions is available to all ATP Holders, the 

Exchange notes that Market Makers and Specialists 

have a time and place advantage by virtue of their 

presence on the Trading Floor to participate in such 

executions and therefore benefit from the reduced 

cap. 

18See supra notes 5 and 16. 

19See supra note 6. 

20See supra note 17. 

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.’’ 11

There are currently 16 registered 

options exchanges competing for order 

flow. Based on publicly-available 

information, and excluding index-based 

options, no single exchange has more 

than 16% of the market share of 

executed volume of multiply-listed 

equity and ETF options trades.12

Therefore, currently no exchange 

possesses significant pricing power in 

the execution of multiply-listed equity & 

ETF options order flow. More 

specifically, in March 2021, the 

Exchange had less than 10% market 

share of executed volume of multiplylisted equity and ETF options trades.13

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 or 

reduce use of certain categories of 

products, in response to fee changes. 

Accordingly, competitive forces 

constrain options exchange transaction 

fees. Stated otherwise, changes to 

exchange transaction fees and rebates 

can have a direct effect on the ability of 

an exchange to compete for order flow. 

The proposed rule change is designed 

to bring the Exchange’s fees for Market 

Maker Manual transactions into 

alignment with those charged on other 

markets with Trading Floors. The 

Exchange believes it is reasonable to 

increase certain fees, similar to fees 

assessed by competing options 

exchanges for similar transactions, and 

notes that Specialists will continue to be 

charged lower fees than those assessed 

by competing options exchanges for 

similar transactions.14 The Exchange 

also believes that it is reasonable to 

continue to offer Specialists lower fees 

than Market Makers for Manual 

transactions given that Specialists are 

subject to additional monthly Rights 

Fees.15 The Exchange believes that the 

proposed increased charge for Manual 

executions by Market Makers and 

Specialists but not for other market 

participants is reasonable because the 

resulting disparity would align the 

Exchange’s fees for Manual executions 

with the fees charged on other 

exchanges.16

The Exchange also believes the 

proposed changes, even though they are 

increased fees, would not discourage 

Market Makers and Specialists from 

continuing to conduct Manual 

transactions on the Exchange, including 

because Market Makers and Specialists 

who participate in the Prepayment 

Program will continue to receive 

discounted rates on Manual transactions 

and because Specialists will continue to 

be charged lower fees than those 

assessed by competing options 

exchanges for similar transactions. And, 

for Market Makers and Specialists that 

do not participate in the Prepayment 

Program, the Exchange believes that 

other reduced pricing and incentives 

offer by the Exchange would continue to 

encourage these participants to conduct 

Manual transactions on the Exchange.17

The Exchange thus believes that the 

proposed changes would continue to 

attract volume and liquidity to the 

Exchange generally and would therefore 

benefit all market participants 

(including those that do not participate 

in Manual transactions) through 

increased opportunities to trade. 

Finally, to the extent the proposed 

fees do not discourage Market Makers 

and Specialists from continuing to 

conduct Manual transactions on the 

Exchange, the Exchange believes the 

proposed changes would continue to 

improve the Exchange’s overall 

competitiveness and strengthen its 

market quality for all market 

participants. In the backdrop of the 

competitive environment in which the 

Exchange operates, the proposed rule 

change is a reasonable attempt by the 

Exchange to maintain its market share 

relative to its competitors. 

The Proposed Rule Change Is an 

Equitable Allocation of Fees and 

Rebates 

The Exchange believes the proposed 

rule change is an equitable allocation of 

its fees and credits. The proposal is 

based on the type of business transacted 

on the Exchange, and Market Makers 

and Specialists can opt to participate in 

Manual transactions or not. Market 

Makers and Specialists who participate 

in the Prepayment Program will also 

continue to receive the same size 

discount on their respective rates for 

Manual transactions, as modified. The 

Exchange notes that the increased fees 

for Manual executions by Market 

Makers and Specialists, but not for other 

market participants, represents an 

equitable allocation of fees given that 

the proposed fees (and resulting 

disparity) are consistent with fees 

charged for Manual executions by 

market makers on other exchanges.18

The Exchange also believes that 

continuing to offer Specialists lower 

fees than Market Makers is an equitable 

allocation of fees given that Specialists 

are subject to additional fees set forth in 

the Exchange’s Fee Schedule.19

Moreover, even though the proposed 

changes increase the fees applicable to 

Manual transactions by Market Makers 

and Specialists, the Exchange does not 

believe they will discourage such 

transactions on the Exchange or the 

aggregation of such executions at the 

Exchange as a primary execution venue, 

including because of other reduced fees 

and incentives available to such 

participants on the Exchange.20 To the 

extent that the proposed changes 

continue to attract Manual transactions 

to the Exchange, this order flow would 

continue to make the Exchange a more 

competitive venue for, among other 

things, order execution. Thus, the 

Exchange believes the proposed rule 

change would continue to improve 


jbell on DSKJLSW7X2PROD with NOTICES
Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices 31353 

21See supra notes 5, 16 and 17. 

22See supra note 6. 

23See Reg NMS Adopting Release, supra note 11, 

at 37499. 

24See supra notes 5, 16 and 17. 

25See supra note 12. 

26Based on a compilation of OCC data for 

monthly volume of equity-based options and 

monthly volume of ETF-based options, see id., the 

Exchange’s market share in multiply-listed equity 

and ETF options increased slightly from 7.89% for 

the month of March 2020 to 8.63% for the month 

of March 2021. 

27See supra notes 5 and 16. 

market quality for all market 

participants on the Exchange and, as a 

consequence, continue to attract more 

order flow to the Exchange, thereby 

improving market-wide quality and 

price discovery. 

The Proposed Rule Change Is Not 

Unfairly Discriminatory 

The Exchange believes that the 

proposal is not unfairly discriminatory 

because the proposed modifications 

would apply to all Market Makers and 

Specialists who execute Manual 

transactions on the Exchange on an 

equal and non-discriminatory basis. In 

addition, all Market Makers and 

Specialists who are participants in the 

Prepayment Program will continue to 

receive a discount on the rates 

applicable to their respective Manual 

transactions. The proposal is based on 

the amount and type of business 

transacted on the Exchange, and Market 

Makers and Specialists are not obligated 

to participate in Manual transactions on 

the Exchange. Rather, the proposal is 

designed to continue to encourage the 

use of the Exchange as a primary trading 

venue (if they have not done so 

previously) by maintaining the Trading 

Floor for Manual transactions. 

The Exchange also believes that 

increasing fees for Manual executions 

by Market Makers, but not other market 

participants, is not unfairly 

discriminatory given that the proposed 

rates (and resulting disparity) are a 

competitive response to rates charged 

on competing options exchanges for 

manual executions by market makers 

and because these participants may 

available themselves of other reduced 

fees and incentives offered by the 

Exchange.21 The Exchange also believes 

that it is not unfairly discriminatory to 

continue to offer Specialists lower fees 

than Market Makers given that 

Specialists are subject to additional fees 

set forth in the Exchange’s Fee 

Schedule.22

To the extent that the proposed 

change assists the Exchange in 

continuing to attract Manual 

transactions to the Trading Floor, this 

order flow would continue to make the 

Exchange a more competitive venue for 

order execution. Thus, the Exchange 

believes the proposed rule change 

would contribute to market quality for 

all market participants on the Exchange 

and, as a consequence, attract more 

order flow to the Exchange, thereby 

improving market-wide quality and 

price discovery. The resulting volume 

and liquidity would continue to provide 

more trading opportunities and tighter 

spreads to all market participants and 

thus would promote just and equitable 

principles of trade, remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act, the Exchange does not believe 

that the proposed rule change would 

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 

changes would be consistent with 

charges for similar business at other 

markets. As a result, the Exchange 

believes that the proposed changes 

further 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.’’ 23

Intramarket Competition. The 

proposed change is designed to 

continue to promote the use of the 

Exchange as a primary trading venue by 

maintaining the Trading Floor for 

Manual transactions, which would 

enhance the quality of quoting and may 

increase the volumes of contracts traded 

on the Exchange. The Exchange believes 

that the proposed increased fees for 

Manual executions by Market Makers 

and Specialists but not for other market 

participants would not impose any 

burden on intermarket competition that 

is not necessary or appropriate because 

the proposed fees (and resulting 

disparity) are consistent with fees 

charged for Manual executions by 

market makers on other exchanges and 

because these participants may available 

themselves of other reduced fees and 

incentives offered by the Exchange.24

The Exchange believes that the 

proposed modifications to the rates 

applicable to Manual transactions by 

Market Makers and Specialists will not 

discourage those market participants 

from continuing to conduct Manual 

transactions on the Exchange (including 

because those Market Makers and 

Specialists who participate in the 

Prepayment Program will continue to 

receive a discounted rate on Manual 

transactions and because Specialists 

will continue to receive lower fees than 

those assessed by competing options 

exchanges for similar transactions). To 

the extent that this purpose is achieved, 

all of the Exchange’s market participants 

should benefit from the continued 

market liquidity. Enhanced market 

quality and increased transaction 

volume that results from the increase in 

order flow directed to the Exchange will 

benefit all market participants and 

improve competition on the Exchange. 

Intermarket Competition. The 

Exchange operates in a highly 

competitive market in which market 

participants can readily favor one of the 

16 competing option exchanges if they 

deem fee levels at a particular venue to 

be excessive. In such an environment, 

the Exchange must continually adjust its 

mechanisms and fees to remain 

competitive with other exchanges and to 

attract order flow to the Exchange. 

Based on publicly-available 

information, and excluding index-based 

options, no single exchange currently 

has more than 16% of the market share 

of executed volume of multiply-listed 

equity and ETF options trades.25

Therefore, no exchange currently 

possesses significant pricing power in 

the execution of multiply-listed equity & 

ETF options order flow. More 

specifically, in March 2021, the 

Exchange had less than 10% market 

share of executed volume of multiplylisted equity and ETF options trades.26

The Exchange believes that the 

proposed rule change reflects this 

competitive environment because it 

modifies the Exchange’s fees to be more 

closely aligned with fees charged by 

other markets with Trading Floors for 

similar transactions.27 The Exchange 

also believes that the proposed changes 

would continue to promote competition 

between the Exchange and other 

execution venues by encouraging orders 

to be sent to the Exchange for execution. 

To the extent that this purpose is 

achieved, all the Exchange’s market 

participants should benefit from the 

improved market quality and increased 

opportunities for price improvement. 


jbell on DSKJLSW7X2PROD with NOTICES
31354 Federal Register / Vol. 86, No. 111 / Friday, June 11, 2021 / Notices 

28 15 U.S.C. 78s(b)(3)(A). 

29 17 CFR 240.19b–4(f)(2). 

30 15 U.S.C. 78s(b)(2)(B). 

31 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 90568 

(December 4, 2020), 85 FR 79541 (December 10, 

2020) (SR–FICC–2020–017) (‘‘Notice’’). FICC also 

filed the proposal contained in the Proposed Rule 

Change as advance notice SR–FICC–2020–804 

(‘‘Advance Notice’’) with the Commission pursuant 

to Section 806(e)(1) of the Dodd-Frank Wall Street 

Reform and Consumer Protection Act entitled the 

Payment, Clearing, and Settlement Supervision Act 

of 2010 (‘‘Clearing Supervision Act’’). 12 U.S.C. 

5465(e)(1); 17 CFR 240.19b–4(n)(1)(i). Notice of 

filing of the Advance Notice was published for 

comment in the Federal Register on January 6, 

2021. Securities Exchange Act Release No. 90834 

(December 31, 2020), 86 FR 584 (January 6, 2021) 

(File No. SR–FICC–2020–804) (‘‘Notice of Filing’’). 

Upon publication of the Notice of Filing, the 

Commission extended the review period of the 

Advance Notice for an additional 60 days because 

the Commission determined that the Advance 

Notice raised novel and complex issues. On March 

12, 2021, the Commission issued a request for 

information regarding the Advance Notice. See 

Commission’s Request for Additional Information, 

available at https://www.sec.gov/comments/sr-ficc2020-804/srficc2020804-8490035-229981.pdf. On 

April 16, 2021, FICC submitted its response thereto. 

See Response to Commission’s Request for 

Additional Information, available at https://

www.sec.gov/comments/sr-ficc-2020-804/ 

srficc2020804-8685526-235624.pdf; Letter from 

James Nygard, Director and Assistant General 

Counsel, FICC (April 16, 2021), available at https:// 

www.sec.gov/comments/sr-ficc-2020-804/ 

srficc2020804-8679555-235605.pdf. The proposal 

contained in the Proposed Rule Change and the 

Advance Notice shall not take effect until all 

regulatory actions required with respect to the 

proposal are completed. 

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

5Securities Exchange Act Release No. 90794 

(December 23, 2020), 85 FR 86591 (December 30, 

2020) (SR–FICC–2020–017). 

6Securities Exchange Act Release No. 91092 

(February 9, 2021), 86 FR 9560 (February 16, 2021) 

(SR–FICC–2020–017). 

7Comments on the Proposed Rule Change are 

available at https://www.sec.gov/comments/sr-ficc2020-017/srficc2020017.htm. Comments on the 

Advance Notice are available at https://

www.sec.gov/comments/sr-ficc-2020-804/ 

srficc2020804.htm. Because the proposals 

contained in the Advance Notice and the Proposed 

Rule Change are the same, all comments received 

on the proposal were considered regardless of 

whether the comments were submitted with respect 

to the Advance Notice or the Proposed Rule 

Change. 

8See Letter from Timothy J. Cuddihy, Managing 

Director of Depository Trust & Clearing Corporation 

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) 28 of the Act and 

subparagraph (f)(2) of Rule 19b–4 29

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) 30 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– 

NYSEAMER–2021–30 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–NYSEAMER–2021–30. 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–NYSEAMER–2021–30, and 

should be submitted on or before July 2, 

2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–12249 Filed 6–10–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92117; File No. SR–FICC– 

2020–017] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Designation of Longer Period for 

Commission Action on Proceedings To 

Determine Whether To Approve or 

Disapprove a Proposed Rule Change 

To Modify the Calculation of the MBSD 

VaR Floor To Incorporate a Minimum 

Margin Amount 

June 7, 2021. 

On November 20, 2020, Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule change SR–FICC–2020–017 

(‘‘Proposed Rule Change’’) pursuant to 

Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder.2 The Proposed Rule 

Change was published for comment in 

the Federal Register on December 10, 

2020.3 On December 30, 2020, pursuant 

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

Commission designated a longer period 

within which to approve, disapprove, or 

institute proceedings to determine 

whether to approve or disapprove the 

Proposed Rule Change.5 On February 

16, 2021, the Commission instituted 

proceedings to determine whether to 

approve or disapprove the Proposed 

Rule Change.6 The Commission 

received comment letters on the 

Proposed Rule Change.7 In addition, the 

Commission received a letter from FICC 

responding to the public comments.8


jbell on DSKJLSW7X2PROD with NOTICES