Document ID: SEC-2017-0154-0001
Agency: sec
Document Type: Notice
Title: Joint Industry Plans: MIAX PEARL, LLC
Posted Date: 2017-02-03T05:00Z

[Federal Register Volume 82, Number 22 (Friday, February 3, 2017)]
[Notices]
[Pages 9263-9264]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-02266]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79897; File No. 4-443]

Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment to the Plan for the Purpose of Developing and Implementing 
Procedures Designed To Facilitate the Listing and Trading of 
Standardized Options To Add MIAX PEARL, LLC as a Plan Sponsor

January 30, 2017.
    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 January 17, 2017, MIAX PEARL, LLC (``MIAX PEARL'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') an amendment to the Plan for the Purpose of Developing 
and Implementing Procedures Designed to Facilitate the Listing and 
Trading of Standardized Options (``OLPP'').\3\ The Commission approved 
the application of MIAX PEARL to register as a national securities 
exchange on December 13, 2016.\4\ One of the conditions of the 
Commission's approval was the requirement for MIAX PEARL to join the 
OLLP. The amendment adds MIAX PEARL as a Sponsor \5\ of the OLPP.\6\ 
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\ On July 6, 2001, the Commission approved the OLPP, which was 
proposed by the American Stock Exchange LLC (``Amex''), Chicago 
Board Options Exchange, Incorporated (``CBOE''), International 
Securities Exchange LLC (``ISE''), Options Clearing Corporation 
(``OCC''), Philadelphia Stock Exchange, Inc. (``Phlx''), and Pacific 
Exchange, Inc. (``PCX'') (n/k/a NYSE Arca). See Securities Exchange 
Act Release No. 44521, 66 FR 36809 (July 13, 2001). See also 
Securities Exchange Act Release Nos. 49199 (February 5, 2004), 69 FR 
7030 (February 12, 2004) (adding Boston Stock Exchange, Inc. as a 
Sponsor to the OLPP); 57546 (March 21, 2008), 73 FR 16393 (March 27, 
2008) (adding Nasdaq Stock Market, LLC (``Nasdaq'') as a Sponsor to 
the OLPP); 61528 (February 17, 2010), 75 FR 8415 (February 24, 2010) 
(adding BATS Exchange, Inc. (``BATS'') as a Sponsor to the OLPP); 
63162 (October 22, 2010), 75 FR 66401 (October 28, 2010) (adding C2 
Options Exchange Incorporated (``C2'') as a sponsor to the OLPP); 
66952 (May 9, 2012), 77 FR 28641 (May 15, 2012) (adding BOX Options 
Exchange LLC (``BOX'') as a Sponsor to the OLPP); 67327 (June 29, 
2012), 77 FR 40125 (July 6, 2012) (adding Nasdaq OMX BX, Inc. 
(``BX'') as a Sponsor to the OLPP); 70765 (October 28, 2013), 78 FR 
65739 (November 1, 2013) (adding Topaz Exchange, LLC as a Sponsor to 
the OLPP (``Topaz''); 70764 (October 28, 2013), 78 FR 65733 
(November 1, 2013) (adding Miami International Securities Exchange, 
LLC (``MIAX'') as a Sponsor to the OLPP); 76822 (January 1, 2016), 
81 FR 1251 (January 11, 2016) (adding EDGX Exchange, Inc. (``EDGX'') 
as a Sponsor to the OLPP); 77323 (March 8, 2016), 81 FR 13433 (March 
14, 2016) (adding ISE Mercury, LLC (``ISE Mercury'') as a Sponsor to 
the OLPP).
    \4\ See Securities and Exchange Act Release No. 79543 (Dec. 13, 
2016), 81 FR 92901 (Dec. 20, 2016) (File No. 10-227).
    \5\ A ``Sponsor'' is an Eligible Exchange whose participation in 
the OLPP has become effective pursuant to Section 7 of the OLPP.
    \6\ See Letter from Barbara J. Comly, EVP, General Counsel and 
Corporate Secretary, MIAX PEARL, to Brent J. Fields, Secretary, 
Commission, dated January 13, 2017.
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I. Description and Purpose of the Amendment

    The OLPP establishes procedures designed to facilitate the listing 
and trading of standardized options contracts on the options exchanges. 
The amendment to the OLPP adds MIAX PEARL as a Sponsor. The other OLPP 
Sponsors are Amex, BATS, BOX, BX, CBOE, C2, EDGX, ISE, ISE Mercury, 
MIAX, Nasdaq, NYSE Arca, OCC, Phlx, and Topaz. MIAX PEARL has submitted 
an executed copy of the OLPP to the Commission in accordance with the 
procedures set forth in the OLPP regarding new Sponsors. Section 7 of 
the OLPP provides for the entry of new Sponsors to the OLPP. 
Specifically, Section 7 of the OLPP provides that an Eligible Exchange 
\7\ may become a Sponsor of the OLPP by: (i) Executing a copy of the 
OLPP, as then in effect; (ii) providing each current Sponsor with a 
copy of such executed OLPP; and (iii) effecting an amendment to the 
OLPP, as specified in Section 7(ii) of the OLPP.
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    \7\ The OLPP defines an ``Eligible Exchange'' as a national 
securities exchange registered with the Commission pursuant to 
Section 6(a) of the Act, 15 U.S.C. 78f(a), that (1) has effective 
rules for the trading of options contracts issued and cleared by the 
OCC approved in accordance with the provisions of the Act and the 
rules and regulations thereunder and (2) is a party to the Plan for 
Reporting Consolidated Options Last Sale Reports and Quotation 
Information (the ``OPRA Plan''). MIAX PEARL has represented that it 
has met both the requirements for being considered an Eligible 
Exchange. See supra note 5.
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    Section 7(ii) of the OLPP sets forth the process by which an 
Eligible Exchange may effect an amendment to the OLPP. Specifically, an 
Eligible Exchange must: (a) Execute a copy of the OLPP with the only 
change being the addition of the new Sponsor's name in Section 8 of the 
OLPP; \8\ and (b) submit the executed OLPP to the Commission. The OLPP 
then provides that such an amendment will be effective when the 
amendment is approved by the Commission or otherwise becomes effective 
pursuant to Section 11A of the Act and Rule 608 thereunder.
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    \8\ The Commission notes that the list of plan sponsors is set 
forth in Section 9 of the OLPP.

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[[Page 9264]]

II. Effectiveness of the OLPP Amendment

    The foregoing OLPP amendment has become effective pursuant to Rule 
608(b)(3)(iii) \9\ because it involves solely technical or ministerial 
matters. At any time within sixty days of the filing of the amendment, 
the Commission may summarily abrogate the amendment and require that it 
be refiled pursuant to paragraph (a)(1) of Rule 608,\10\ 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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    \9\ 17 CFR 242.608(b)(3)(iii).
    \10\ 17 CFR 242.608(b)(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 4-443 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 4-443. 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 Web site (http://www.sec.gov/rules/sro.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the plan that are filed with the Commission, 
and all written communications relating to the plan 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 Web site 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 
such filing also will be available for inspection and copying at MIAX 
PEARL's principal office. All comments received will be posted without 
change; the Commission does not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make available publicly. All submissions should refer to File Number 4-
443, and should be submitted on or before February 24, 2017.

    By the Commission.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-02266 Filed 2-2-17; 8:45 am]
BILLING CODE 8011-01-P