Document ID: SEC-2020-1573-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Filing and Immediate Effectiveness of Amendment to the Plan Establishing Procedures Under Rule 605 of Regulation NMS to Add MIAX PEARL, LLC as a Participant
Posted Date: 2020-10-07T04:00Z

[Federal Register Volume 85, Number 195 (Wednesday, October 7, 2020)]
[Notices]
[Pages 63324-63325]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22118]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90070; File No. 4-518]

Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan Establishing Procedures Under Rule 605 of 
Regulation NMS To Add MIAX PEARL, LLC as a Participant

October 1, 2020.
    Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given 
that on September 8, 2020, MIAX PEARL, LLC (``MIAX PEARL'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') \3\ an amendment to the national market system plan 
establishing procedures under Rule 605 of Regulation NMS (``Plan'').\4\ 
The amendment adds MIAX PEARL as a Participant \5\ to the Plan. The 
Commission is publishing this notice to solicit comments on the 
amendment from interested persons.
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    \1\ 15 U.S.C 78k-1(a)(3).
    \2\ 17 CFR 242.608.
    \3\ See Letter from Christopher Solgan, VP, Senior Counsel, MIAX 
PEARL, to Vanessa Countryman, Secretary, Commission, dated September 
8, 2020.
    \4\ 17 CFR 242.605. On April 12, 2001, the Commission approved a 
national market system plan for the purpose of establishing 
procedures for market centers to follow in making their monthly 
reports available to the public under Rule 11Ac1-5 under the Act (n/
k/a Rule 605 of Regulation NMS). See Securities Exchange Act Release 
No. 44177 (April 12, 2001), 66 FR 19814 (April 17, 2001).
    \5\ The term ``Participant'' is defined as a party to the Plan.
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I. Description and Purpose of the Plan Amendment

    As noted above, the sole proposed amendment to the Plan is to add 
the Exchange as a Participant. On December 13, 2016, the Commission 
issued an order granting the Exchange's application for registration as 
a national securities exchange.\6\ On August 14, 2020, the Commission 
approved the Exchange's proposal to adopt rules governing the trading 
of equity securities.\7\ Under the Equities Approval Order, one of the 
conditions to MIAX PEARL's trading of equity securities is that it must 
join the Plan.
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    \6\ See Securities Exchange Act Release No. 79543, 81 FR 92901 
(December 20, 2016) (File No. 10-227).
    \7\ See Securities Exchange Act Release No. 89563, 85 FR 51510 
(August 20, 2020) (``Equities Approval Order'').
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    Under Section II(c) of the Plan, any entity registered as a 
national securities exchange or national securities association under 
the Act may become a Participant by: (i) Executing a copy of

[[Page 63325]]

the Plan, as then in effect; (ii) providing each then-current 
Participant with a copy of such executed Plan; and (iii) effecting an 
amendment to the Plan as specified in Section III(b) of the Plan. 
Section III(b) of the Plan sets forth the process for a prospective new 
Participant to effect an amendment of the Plan. Specifically, the Plan 
provides that such an amendment to the Plan may be effected by the new 
national securities exchange or national securities association by 
executing a copy of the Plan, as then in effect (with the only changes 
being the addition of the new Participant's name in Section II(a) of 
the Plan and the new Participant's single-digit code in Section 
VI(a)(1) of the Plan) and submitting such executed Plan to the 
Commission. The amendment will be effective when it is approved by the 
Commission in accordance with Rule 608 of Regulation NMS, or otherwise 
becomes effective pursuant to Rule 608 of Regulation NMS.
    MIAX PEARL has executed a copy of the Plan currently in effect, 
with the only changes being the addition of its name in Section II(a) 
of the Plan and adding its single-digit code in Section VI(a)(1) of the 
Plan, and has provided a copy of the Plan executed by MIAX PEARL to 
each of the other Participants. MIAX PEARL has also submitted the 
executed Plan to the Commission. Accordingly, all of the Plan 
requirements for effecting an amendment to the Plan to add MIAX PEARL 
as a Participant have been satisfied.

II. Effectiveness of the Proposed Plan Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) of the Act \8\ because it involves solely technical or 
ministerial matters. At any time within sixty days of the filing of 
this amendment, the Commission may summarily abrogate the amendment and 
require that it be refiled pursuant to paragraph (a)(1) of Rule 608,\9\ 
if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
the maintenance of fair and orderly markets, to remove impediments to, 
and perfect the mechanisms of, a national market system or otherwise in 
furtherance of the purposes of the Act.
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    \8\ 17 CFR 242.608(b)(3)(iii).
    \9\ 17 CFR 242.608(a)(1).
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III. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the amendment 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 4-518 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 4-518. 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 plan amendment that are filed 
with the Commission, and all written communications relating to the 
amendment 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 
20549-1090, on official business days between the hours of 10:00 a.m. 
and 3:00 p.m. Copies of such 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 4-518 and should be submitted 
on or before October 28, 2020.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-22118 Filed 10-6-20; 8:45 am]
BILLING CODE 8011-01-P