Document ID: SEC-2020-1572-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plan: Filing and Immediate Effectiveness of Amendment to the Plan to Address Extraordinary Market Volatility 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 63322-63323]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-22117]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90068; File No. 4-631]

Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan To Address Extraordinary Market Volatility 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'') an amendment to the Plan to Address Extraordinary 
Market Volatility (``LULD Plan'' or ``Plan'') as a Participant.\3\ The 
amendment adds MIAX PEARL as a Participant \4\ to the LULD 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, Vice President and 
Senior Counsel, dated September 8, 2020 to Vanessa Countryman, 
Secretary, Commission. On May 6, 2012, the Commission issued an 
order approving the Plan on a pilot basis (the ``Approval Order''). 
See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 
33498 (June 6, 2012). The Commission approved the LULD Plan on a 
permanent basis on April 11, 2019. See Securities Exchange Act 
Release No. 85623, 84 FR 16086 (April 17, 2019).
    \4\ Defined in Section I(K) of the Plan as follows: 
``Participant'' means a Party to the Plan.
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I. Description and Purpose of the Amendment

    On August 14, 2020, the Commission issued an order approving MIAX 
PEARL's proposal to adopt rules governing the trading of equity 
securities.\5\ As noted above, the proposed amendment adds MIAX PEARL 
as a Participant to the LULD Plan.
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    \5\ See Securities Exchange Act Release No. 89563 (August 14, 
2020), 85 FR 51510 (August 20, 2020).
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    Under Section II(C) of the LULD Plan, any entity registered as a 
national securities exchange or national securities association under 
the Exchange Act may become a Participant by: (1) Becoming a 
participant in the applicable Market Data Plans; (2) executing a copy 
of the Plan, as then in effect; (3) providing each then-current 
Participant with a copy of such executed Plan; and (4) effecting an 
amendment to the Plan as specified in Section III(B) of the Plan. 
Section III(B) of the LULD Plan sets forth the process for a 
prospective new Participant to effect an amendment of the Plan. 
Specifically, the LULD 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 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 become a participant in the applicable Market Data 
Plans,\6\ executed a copy of the Plan currently in effect, with the 
only change being the addition of its name in Section II(A) 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.
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    \6\ See Letter from Robert Books, Chairman, Operating Committee, 
CTA/CQ Plans, to Vanessa Countryman, Secretary, Commission, dated 
September 3, 2020 to Vanessa Countryman, Secretary, SEC (relating to 
Thirty-Fourth Substantive Amendment to the Second Restatement of the 
CTA Plan and Twenty-Fifth Substantive Amendment to the Restated CQ 
Plan adding MIAX PEARL as a participant) and letter from Robert 
Books, Chairman, Operating Committee, UTP Plan, to Vanessa 
Countryman, Secretary, Commission, dated September 3, 2020 (relating 
to Forty-Eighth Amendment to the UTP Plan adding MIAX PEARL as a 
participant).
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II. Effectiveness of the Proposed Amendment

    The foregoing Plan amendment has become effective pursuant to Rule 
608(b)(3)(iii) \7\ 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,\8\ 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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    \7\ 17 CFR 242.608(b)(3)(iii).
    \8\ 17 CFR 242.608(a)(1).

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[[Page 63323]]

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 4-631 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 4-631. 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 
proposed plan 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 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 4-631 and should be submitted 
on or before October 28, 2020.

    By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-22117 Filed 10-6-20; 8:45 am]
BILLING CODE 8011-01-P