Document ID: SEC-2019-0626-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: Miami International Securities Exchange, LLC
Posted Date: 2019-05-09T04:00Z

[Federal Register Volume 84, Number 90 (Thursday, May 9, 2019)]
[Notices]
[Pages 20441-20445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-09508]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-85770; File No. SR-MIAX-2019-21]

Self-Regulatory Organizations; Miami International Securities 
Exchange, LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend Exchange Rule 100, Definitions, Rule 200, 
Trading Permits, Rule 402, Criteria for Underlying Securities, Rule 
403, Withdrawal of Approval of Underlying Securities and Rule 519, MIAX 
Order Monitor

May 3, 2019.
    Pursuant to the provisions of 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 April 24, 2019, Miami International Securities 
Exchange, LLC (``MIAX Options'' or the ``Exchange'') filed with the 
Securities and Exchange Commission (``Commission'') a proposed rule 
change as described in

[[Page 20442]]

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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is filing a proposal to make a number of minor, non-
substantive edits to Exchange Rule 100, Definitions, Rule 200, Trading 
Permits, Rule 402, Criteria for Underlying Securities, Rule 403, 
Withdrawal of Approval of Underlying Securities and Rule 519, MIAX 
Order Monitor, for purposes of clarification and uniformity.
    The text of the proposed rule change is available on the Exchange's 
website at http://www.miaxoptions.com/rule-filings/ at MIAX Options' 
principal office, 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 Exchange Rule 100, Definitions, to 
make a minor non-substantive edit to the definition for Electronic 
Exchange Member in order to provide consistency and clarity within the 
rule text. Currently, Exchange Rule 100 defines Electronic Exchange 
Member as follows:

    The term ``Electronic Exchange Member'' means the holder of a 
Trading Permit who is not a Market Maker. Electronic Exchange 
Members are deemed ``members'' under the Exchange Act.\3\
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    \3\ See Exchange Rule 100.

    The Exchange proposes to amend the definition for Electronic 
Exchange Member in Exchange Rule 100 to insert the abbreviation for 
Electronic Exchange Member as ``EEM'' to provide consistency and 
clarity within MIAX's rulebook. With the proposed change, the 
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definition for Electronic Exchange Member would be as follows:

    The term ``Electronic Exchange Member'' or ``EEM'' means the 
holder of a Trading Permit who is not a Market Maker. Electronic 
Exchange Members are deemed ``members'' under the Exchange Act.

    The proposed change would align the rule text for the definition of 
an Electronic Exchange Member with the rulebook for MIAX, which uses 
the EEM abbreviation for an Electronic Exchange Member in other 
Exchange rules.
    The Exchange also proposes to amend Exchange Rule 100, Definitions, 
to make minor non-substantive edits to harmonize the rule text to that 
of the Exchange's affiliate, MIAX Emerald, LLC (``MIAX Emerald''). 
Currently, Exchange Rule 100 does not include definitions for the 
Exchange's affiliates, MIAX Emerald and MIAX PEARL, LLC (``MIAX 
PEARL''). In order to ensure conformity, the Exchange proposes to amend 
Exchange Rule 100 to adopt definitions for MIAX Emerald and MIAX PEARL 
that are nearly identical to rule text found in MIAX Emerald Rule 100.
    MIAX proposes to adopt the following definition for MIAX Emerald to 
be included in Exchange Rule 100: ``The term `MIAX Emerald' means MIAX 
Emerald, LLC.'' MIAX proposes to adopt the following definition for 
MIAX PEARL to be included in Exchange Rule 100: ``The term `MIAX PEARL' 
means MIAX PEARL, LLC.'' The Exchange believes that adopting the 
definitions of the Exchange's affiliates, MIAX Emerald and MIAX PEARL, 
in Exchange Rule 100 creates consistency among MIAX, MIAX Emerald and 
MIAX PEARL.
    Next, the Exchange proposes to amend Exchange Rule 100 to clarify 
the definition for the term ``MIAX.'' Exchange Rule 100 currently 
defines MIAX as follows: ``The term `MIAX' means the Miami 
International Securities Exchange, LLC.'' The Exchange proposes to 
insert the phrase ``or the Exchange'' following the period in the 
current definition for the term MIAX in Exchange Rule 100 to clarify 
and align the rule text with the definition for the term the 
``Exchange'' in Exchange Rule 100. Exchange Rule 100 currently defines 
Exchange as follows: ``The term `Exchange' means the national 
securities exchange known as Miami International Securities Exchange or 
MIAX.'' The Exchange's proposal to clarify the definition for the term 
``MIAX'' would be as follows: ``The term `MIAX' means the Miami 
International Securities Exchange, LLC, or the Exchange.'' The proposal 
is nearly identical to rule text in MIAX Emerald Rule 100.\4\ The 
Exchange believes that its affiliate, MIAX PEARL, would also make a 
nearly identical change to MIAX PEARL Rule 100.\5\
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    \4\ See MIAX Emerald Rule 100.
    \5\ See SR-PEARL-2019-16.
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    The Exchange also proposes to amend Exchange Rule 100 to make minor 
non-substantive edit to the definition for ``Exchange'' in order to 
provide consistency and clarity within the rule text. Currently, 
Exchange Rule 100 defines Exchange as follows: ``The term `Exchange' 
means the national securities exchange known as Miami International 
Securities Exchange or MIAX.'' The definition for Exchange in MIAX Rule 
100 should include a comma and the abbreviation ``LLC'' following the 
whole name for MIAX. Accordingly, the Exchange proposes to amend the 
definition for Exchange as follows: ``The term `Exchange' means the 
national securities exchange known as Miami International Securities 
Exchange, LLC or MIAX.''
    Next, the Exchange proposes to amend Exchange Rule 200, Trading 
Permits, to conform to MIAX Emerald Rule 200 by adopting language to 
differentiate the MIAX trading permit application process for holders 
of MIAX Emerald or MIAX PEARL trading permits and applicants not 
holding MIAX Emerald or MIAX PEARL trading permits. Currently, Exchange 
Rule 200(c), Application Process, describes the application process for 
a person or entity seeking to hold a MIAX Trading Permit as follows:

    All persons or entities seeking to hold a Trading Permit 
(``Applicant'') must submit an application to the Exchange in 
accordance with such procedures as shall be established by the 
Exchange via Regulatory Circular including submission deadlines and 
payment of any applicable application fees. In addition, the 
following shall apply: \6\
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    \6\ See Exchange Rule 200.

The current application process under Exchange Rule 200 for a MIAX 
trading permit was established prior to the Exchange's affiliates, MIAX 
Emerald and MIAX PEARL, commencing operations.
    The Exchange proposes to adopt the waive-in application process for 
a MIAX trading permit that is currently in place on MIAX Emerald. MIAX 
Emerald Rule 200 provides that a holder of a MIAX or MIAX PEARL trading 
permit in good standing is eligible to receive one MIAX Emerald Trading 
Permit in the same Membership category to trade on MIAX

[[Page 20443]]

Emerald.\7\ Member \8\ applicants of MIAX and MIAX PEARL are not 
required to submit a full application for membership on MIAX Emerald, 
but rather only need to complete selected MIAX Emerald forms concerning 
their election to trade on MIAX Emerald, consent to MIAX Emerald's 
jurisdiction, and other operational matters.\9\ This waive-in 
application process is similar to arrangements in place at other 
exchanges.\10\
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    \7\ See MIAX Emerald Rule 100.
    \8\ The term ``Member'' means an individual or organization 
approved to exercise the trading rights associated with a Trading 
Permit. Members are deemed ``members'' under the Exchange Act. See 
Exchange Rule 100.
    \9\ See MIAX Emerald Rule 100.
    \10\ See, e.g., Nasdaq MRX, LLC Rule 302(a) (containing similar 
expedited waive-in membership process for members of the Nasdaq ISE, 
LLC and Nasdaq GEMX, LLC); MIAX PEARL Rule 200(c)(1) (containing 
similar expedited waive-in membership process for members of MIAX); 
and Cboe C2 Exchange, Inc. Rule 3.1(c)(1) (containing similar 
expedited waive-in membership process for members of Cboe).
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    MIAX proposes to adopt the waive-in application process to conform 
to MIAX Emerald by adopting a new paragraph in Exchange Rule 200, that 
will be numbered (c)(1). Currently, sub-paragraph (c)(1) under Exchange 
Rule 200 provides as follows:

    Each Applicant shall promptly update the application materials 
submitted to the Exchange if any of the information provided in 
these materials becomes inaccurate or incomplete after the date of 
submission of the application to the Exchange and prior to any 
approval of the application.

    Pursuant to this proposal, the Exchange proposes to adopt the 
following sub-paragraph, which will be numbered as (c)(1) under 
Exchange Rule 200:

    Holders of MIAX Emerald or MIAX PEARL Trading Permits. A holder 
of a MIAX Emerald or MIAX PEARL trading permit in good standing is 
eligible to receive one MIAX Trading Permit in the same Membership 
category to trade on MIAX (i.e., a MIAX Emerald Primary Lead Market 
Maker Member is eligible to become a MIAX Primary Lead Market Maker 
Member, a MIAX Emerald Lead Market Maker Member is eligible to 
become a MIAX Lead Market Maker Member, a MIAX Emerald Registered 
Market Maker Member is eligible to become a MIAX Registered Market 
Maker Member, a MIAX Emerald Electronic Exchange Member is eligible 
to become a MIAX Electronic Exchange Member, a MIAX PEARL Market 
Maker is eligible to become a MIAX Registered Market Maker and a 
MIAX PEARL Electronic Exchange Member is eligible to become a MIAX 
Electronic Exchange Member). A holder of a MIAX Emerald or MIAX 
PEARL trading permit who wishes to apply to the Exchange is not 
required to complete and submit an Exchange application. Instead 
only Exchange forms concerning election to trade on the Exchange, 
submitting to Exchange jurisdiction, and operational matters need be 
completed and tendered.

    The Exchange proposes to amend the rule text of Exchange Rule 200 
to adopt a new sub-paragraph in Exchange Rule 200, that would be 
numbered (c)(2) for trading permit applicants not holding a MIAX 
Emerald or MIAX PEARL trading permit already. Currently, Exchange Rule 
200(c)(2) provides as follows:

    The Exchange shall investigate each Applicant applying to be a 
Member (with the exception of any Applicant that was a Member within 
9 months prior to the date of receipt of that Applicant's 
application by the Exchange, and any Applicant that was investigated 
by the Exchange within 9 months prior to the date of receipt of that 
Applicant's application by the Exchange). The Exchange may 
investigate any Applicant that is not required to be investigated 
pursuant to this paragraph. In connection with an investigation 
conducted pursuant to this paragraph, the Exchange may (i) conduct a 
fingerprint based criminal records check of the Applicant and its 
Responsible Person; or (ii) utilize the results of a fingerprint 
based criminal records check of the Applicant and its Responsible 
Person conducted by the Exchange or another self-regulatory 
organization within the prior year.

    Pursuant to this proposal, the Exchange proposes to adopt the 
following sub-paragraph, which will be numbered as (c)(2) under 
Exchange Rule 200:

    Applicants Not Holding MIAX Emerald or MIAX PEARL Trading 
Permits. An applicant not holding a MIAX Emerald or MIAX PEARL 
trading permit seeking to hold a MIAX Trading Permit (``Applicant'') 
must submit an application to the Exchange in accordance with such 
procedures as shall be established by the Exchange. In addition, the 
following shall apply:

    The Exchange also proposes to make corrective changes to the 
numerical and alphabetical list item identifiers to account for the 
Exchange's proposal to adopt new rule text for sub-paragraphs (c)(1) 
and (c)(2), as described above, which replaced the current sub-
paragraphs identified as (c)(1) and (c)(2). The Exchange proposes that 
the sub-paragraphs in Exchange Rule 200(c)(1) through (c)(7), as well 
as paragraphs (d) through (f), would be changed to conform to the 
hierarchical heading scheme used throughout the Exchange's rulebook as 
well as to account for the new language adopted in new sub-paragraphs 
(c)(1) and (c)(2). Accordingly, under Exchange Rule 200, the text in 
paragraph (c) would be deleted, leaving only the heading ``Application 
Process'' in bold font as a heading for the entire section identified 
as paragraph (c). The Exchange proposes to adopt new sub-paragraph 
(c)(1) and (c)(2), as described above. Current sub-paragraph (c)(1) 
through (c)(7) will be renumbered as (c)(2)(i) through (c)(2)(vi), and 
current sub-paragraph (c)(7) will become its own paragraph identified 
as paragraph (d); current paragraphs (d) through (f) will be renumbered 
as (e) through (g); current sub-paragraphs (c)(2)(i) through (c)(2)(ii) 
will be renumbered as (c)(2)(ii)(A) through (c)(2)(ii)(B); and the 
reference in current sub-paragraph (c)(3) to ``paragraph (2)'' will be 
corrected such that sub-paragraph (c)(3) will be renumbered as sub-
paragraph (c)(2)(iii) and will reference ``paragraph (ii).''
    Next, the Exchange proposes to amend Exchange Rule 402, Criteria 
for Underlying Securities, to make minor corrective changes to the 
numerical and alphabetical list item identifiers to properly conform to 
the hierarchical heading scheme used throughout the Exchange's 
rulebook. Currently, Exchange Rule 402(i) provides as follows:

    Securities deemed appropriate for options trading shall include 
shares or other securities (``Exchange-Traded Fund Shares'') that 
are traded on a national securities exchange and are defined as an 
``NMS stock'' under Rule 600 of Regulation NMS, and that:

The Exchange proposes that the sub-paragraphs that follow would be 
changed to conform to the hierarchical heading scheme used throughout 
the Exchange's rulebook. Accordingly, under Exchange Rule 402(i), sub-
paragraphs (A) through (E) will be renumbered as (1) through (5); sub-
paragraphs (E)(1) through (E)(2) will be renumbered as (5)(i) through 
(5)(ii); sub-paragraphs (E)(1)(i) through (E)(1)(iii) will be 
renumbered as (5)(i)(A) through (5)(i)(C); sub-paragraph (E)(2) will be 
renumbered as (5)(ii); sub-paragraphs (E)(2)(i) through (E)(2)(ii) will 
be renumbered as (5)(ii)(A) through (5)(ii)(B); and sub-paragraphs 
(E)(2)(ii)(A) through (E)(2)(ii)(D) will be renumbered as (5)(ii)(B)(1) 
through (5)(ii)(B)(4).
    Next, the Exchange proposes to amend Exchange Rule 403, Withdrawal 
of Approval of Underlying Securities, to conform references to Exchange 
Rule 402(i) sub-paragraphs that are in Exchange Rule 403. Exchange Rule 
403(g)(1) and (g)(2) currently reference Exchange Rule 402(i)(E)(1)(i) 
and 402(i)(E)(1)(ii). The Exchange proposes to amend these reference to 
conform to the other proposed changes to Exchange Rule 402 and the 
proposed changes would be references to Exchange Rule 402(i)(5)(i)(A) 
and 402(i)(5)(i)(B).

[[Page 20444]]

    Next, the Exchange proposes to amend Exchange Rule 519, MIAX Order 
Monitor, to amend sub-paragraph (a)(3)(i) to delete Roman numeral (i) 
in that sub-paragraph that immediately precedes the sentence ``The 
following examples illustrate those situations where lower priced limit 
orders are rejected because they cross the NBBO by at least 50%:'' The 
Exchange proposes to separate sub-paragraph (a)(3)(i) into sub-
paragraphs (a)(3)(i)(A) and (a)(3)(i)(B). The Exchange also proposes to 
amend sub-paragraph (a)(3)(i) to separate Roman numeral (ii) into its 
own sub-paragraph that will become sub-paragraph (a)(3)(ii), with sub-
paragraphs (a)(3)(ii)(A) and (a)(3)(ii)(B) separated into their own 
sub-paragraphs as well. The Exchange also proposes to make a minor 
corrective change to the current Roman numeral identifier for sub-
paragraph (a)(3)(ii) that is directly below sub-paragraph (a)(3)(i) to 
properly conform to the hierarchical heading scheme used throughout the 
Exchange's rulebook following the other proposed changes to Rule 519, 
sub-paragraph (a)(3). Accordingly, the current sub-paragraph (a)(3)(ii) 
will be renumbered as sub-paragraph (a)(3)(iii).
2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent 
with Section 6(b) of the Act \11\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act \12\ in particular, in that it 
is designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating, 
clearing, settling, processing information with respect to, and 
facilitating transactions in securities, to remove impediments to and 
perfect the mechanisms of a free and open market and a national market 
system and, in general, to protect investors and the public interest.
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    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes the proposed changes promote just and 
equitable principles of trade and remove impediments to and perfect the 
mechanism of a free and open market and a national market system 
because the proposed rule changes correct errors in the hierarchical 
heading scheme to provide uniformity in the Exchange's rulebook. The 
Exchange notes that the proposed changes to Exchange Rule 100, Rule 
402, Rule 403 and Rule 519 do not alter the application of each rule. 
As such, the proposed amendments would foster cooperation and 
coordination with persons engaged in facilitating transactions in 
securities and would remove impediments to and perfect the mechanism of 
a free and open market and a national exchange system. In particular, 
the Exchange believes that the proposed changes will provide greater 
clarity to Members and the public regarding the Exchange's Rules. It is 
in the public interest for rules to be accurate and concise so as to 
eliminate the potential for confusion.
    The Exchange believes the proposed changes to Exchange Rule 200 
promotes just and equitable principles of trade and removes impediments 
to and perfects the mechanism of a free and open market and a national 
market system because the proposed changes will align MIAX Rule 200 
with MIAX Emerald Rule 200 regarding trading permits. The Exchange 
believes this consistency across exchanges would remove impediments to 
and perfect the mechanism of a free and open market by ensuring that 
members, regulators and the public can more easily navigate the 
Exchange's rulebook and better understand the application process for 
trading permits. The Exchange also believes that although MIAX Emerald 
rules may, in certain instances, intentionally differ from MIAX rules, 
the proposed changes will promote uniformity with MIAX with respect to 
rules that are intended to be identical. The Exchange believes that 
this proposal will reduce the potential for confusion by its Members 
that are also Members of MIAX Emerald if the only differences between 
MIAX Emerald rules and MIAX rules are those are specific to each 
exchange.
    The Exchange also believes the proposed changes to Exchange Rule 
200 promotes just and equitable principles of trade and removes 
impediments to and perfects the mechanism of a free and open market and 
a national market system because MIAX and its affiliates, MIAX Emerald 
and MIAX PEARL, have substantially the same Members, and by adopting 
the waive-in application process for those Members already holding 
trading permits on MIAX Emerald and/or MIAX PEARL, promotes the more 
effective utilization of time and resources of the Exchange. 
Furthermore, because MIAX Emerald and MIAX PEARL trading permit holders 
have already been vetted, the Exchange's proposal to adopt the waive-in 
application process in Exchange Rule 200 aligns the trading permit 
application process with that of the Exchange's affiliates, MIAX 
Emerald and MIAX PEARL, preventing unnecessary regulatory burdens and 
promoting the efficient administration of the Exchange's rules.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule changes will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed rule changes will 
have no impact on competition as they are not designed to address any 
competitive issues but rather are designed to add additional clarity to 
existing rules and to remedy minor non-substantive issues in the text 
of various rules identified in this proposal.
    The Exchange does not believe that the proposed rule changes to 
Exchange Rule 200 will impose any burden on intermarket competition not 
necessary or appropriate in furtherance of the purposes of the Act 
because MIAX and its affiliates, MIAX Emerald and MIAX PEARL, have 
substantially the same Members, and by adopting the waive-in 
application process for those Members already holding trading permits 
on MIAX Emerald and/or MIAX PEARL promotes the more effective 
utilization of time and resources of the Exchange. Furthermore, because 
MIAX PEARL and MIAX Emerald trading permit holders have already been 
vetted, the Exchange's proposal to amend the waive-in application 
process in Exchange Rule 200 aligns the trading permit application 
process with that of the Exchange's affiliate, MIAX Emerald, preventing 
unnecessary regulatory burdens and promoting the efficient 
administration of the Exchange's rules.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing 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 after the date of the filing, or such 
shorter time as the Commission may designate, it has become effective 
pursuant to 19(b)(3)(A) of the Act \13\ and Rule 19b-4(f)(6) \14\ 
thereunder.
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    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-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.

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[[Page 20445]]

    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 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-MIAX-2019-21 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-MIAX-2019-21. 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-MIAX-2019-21, and should be submitted on 
or before May 30, 2019.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-09508 Filed 5-8-19; 8:45 am]
BILLING CODE 8011-01-P