[Federal Register Volume 86, Number 136 (Tuesday, July 20, 2021)]
[Notices]
[Pages 38377-38381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-15339]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-92404; File No. SR-Phlx-2021-41]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend Various 
Phlx Rules

July 14, 2021.
    Pursuant to 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 July 13, 2021, Nasdaq PHLX LLC (``Phlx'' or ``Exchange'') filed with 
the Securities

[[Page 38378]]

and Exchange Commission (``SEC'' or ``Commission'') the proposed rule 
change as described in 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 proposes to amend Phlx Rules at Options 8, Section 2 
(Definitions); Section 8 (Trading Floor Registration); Section 12 
(Clerks); Section 22 (Execution of Options Transactions on the Trading 
Floor); Section 28 (Responsibilities of Floor Brokers); and Section 39 
(Option Minor Rule Violations and Order and Decorum Regulations) at C-2 
(Options Floor Based Management System).
    The text of the proposed rule change is available on the Exchange's 
website at https://listingcenter.nasdaq.com/rulebook/phlx/rules, 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 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 Phlx Rules at Options 8, Section 2 
(Definitions); Section 8 (Trading Floor Registration); Section 12 
(Clerks); Section 22 (Execution of Options Transactions on the Trading 
Floor); Section 28 (Responsibilities of Floor Brokers); and Section 39 
(Option Minor Rule Violations and Order and Decorum Regulations) at C-2 
(Options Floor Based Management System). Each change is described 
below.
    The Exchange also proposes a technical amendment to Options 10, 
Section 20 (Options Communications).
Options 8, Section 2
    The Exchange proposes to amend Options 8, Section 2, Definitions, 
to alphabetize the existing definitions. The Exchange proposes to 
relocate and renumber the current definitions without change, with one 
exception which is described below. The Exchange proposes to amend the 
definition of a Presiding Exchange Official at current Options 8, 
Section 2(a)(4) to add ``/her'' next to ``his'' in two places. The 
amendment to this rule will bring greater clarity to the defined term.
    The Exchange proposes to add two new definitions, ``Floor 
Transaction'' and ``Remote FBMS Transaction'' to Options 8, Section 2. 
The Exchange proposes to define ``Floor Transaction'' as a transaction 
that is effected in open outcry on the Exchange's Trading Floor. This 
term is currently defined within Phlx Options 7, Section 1 for the 
purposes of pricing. The Exchange also proposes to define ``Remote FBMS 
Transaction.'' The Exchange recently amended Options 8, Section 28, 
``Responsibilities of Floor Brokers'' at subsection (g) and Section 30, 
``Crossing, Facilitation and Solicited Orders'' at subsection (e) to 
permit Floor Brokers to utilize the Options Floor Based Management 
System (``FBMS''),\3\ remotely,\4\ to enter certain orders that do not 
require exposure in open outcry.\5\ At this time the Exchange proposes 
to define a ``Remote FBMS Transaction'' as a transaction that is 
effected by a Floor Broker, while not physically present on the Trading 
Floor, by submitting limit, market or stop orders pursuant to Options 
8, Section 28(g) and Floor Qualified Contingent Cross Orders pursuant 
to Options 8, Section 30(e) to the electronic order book, through FBMS, 
pursuant to Options 8, Sections 28 and 30, respectively, in accordance 
with the Prior Rule Change. Further, the Exchange proposes to specify 
that members and member organizations must comply with certain 
regulatory requirements, unless the member or member organization is 
otherwise exempt from the requirements in accordance with Supplementary 
Material .08 to Options 10, Section 6 \6\ or Phlx General 4, Rule 
1230.\7\ The Exchange proposes to state that in order to conduct remote 
FBMS transactions, unless exempt from such requirements, Floor Brokers 
are subject to the following regulatory requirements: (1) Compliance 
with branch office requirements as described in Supplementary Material 
.08 to Options 10, Section 6, as well as supervision of such branch 
office as described in Phlx General 9, Section 20; and (2) compliance 
with applicable registration requirements described in Phlx General 
4.\8\ Finally, the Exchange proposes to make clear that all uses of 
FBMS involving open outcry must be conducted while physically present 
on the Trading Floor. The proposed definition would describe and cite 
to the types of orders that may be submitted remotely by a Floor Broker 
for ease of location in the Options 8 Rules. Further, the proposed rule 
indicates the various existing Phlx Rules that are relevant today for 
regulatory compliance when transacting Remote FBMS Transactions. The 
last sentence of the proposed rule indicates that open outcry 
transactions may only be effected while physically present on the 
Exchange's Trading Floor and therefore uses of FBMS involving open 
outcry must be conducted while physically present on the Trading Floor. 
Today, Floor Brokers must comply with these regulatory requirements. 
This proposed rule would serve as a guide for Floor Brokers conducting 
Remote FBMS Transactions.
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    \3\ FBMS, an order management system, is the gateway for the 
electronic execution of equity, equity index and U.S. dollar-settled 
foreign currency option orders represented by Floor Brokers on the 
Exchange's Options Floor. Floor Brokers contemporaneously upon 
receipt of an order and prior to the representation of such an order 
in the trading crowd, record all options orders represented by such 
Floor Broker to FBMS, which creates an electronic audit trail. The 
execution of orders to Phlx's electronic trading system also occurs 
via FBMS. The FBMS application is available on hand-held tablets and 
stationary desktops.
    \4\ Utilizing FBMS while not physically present on the Trading 
Floor would be considered remote access.
    \5\ See Securities Exchange Act Release No. 90909 (January 13, 
2021), 86 FR 6389 (January 21, 2021) (SR-Phlx-2021-02) (Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To 
Modify Phlx Options 8, Section 28, ``Responsibilities of Floor 
Brokers'' and Section 30, ``Crossing, Facilitation and Solicited 
Orders'') (``Prior Rule Change'').
    \6\ Supplementary Material .08(i)-(vii) to Options 10, Section 6 
describe branch office exclusions.
    \7\ Phlx General 4 Rules are incorporated by reference to the 
General 4 Rules of The Nasdaq Stock Market LLC. General 4, Rule 1230 
describes associated persons exempt from registration.
    \8\ General 4 Rules describe registration, qualification and 
continuing education requirements. Phlx floor members are required 
to comply with Phlx General 4 Rules. If a member is no longer 
present on a trading floor, the member would not be subject to the 
exemption associated with effecting transactions on the floor of 
another national securities exchange. A Floor Broker conducting a 
Remote FBMS Transaction would therefore need to comply with General 
4 registration requirements, including but not limited to, the 
Series 57 registration.

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[[Page 38379]]

Options 8, Sections 8 and 12
    The Exchange proposes to update cross citations to General 4 Rules 
within Options 8, Section 8, Trading Floor Registration and Options 8, 
Section 12, Clerks to reflect The Nasdaq Stock Market LLC's 
(``Nasdaq'') General 4 rule numbering that was amended.\9\ These 
amendments are non-substantive.
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    \9\ See Securities Exchange Act Release No. 90577 (December 7, 
2020), 85 FR 80202 (December 11, 2020) (SR-NASDAQ-2020-079) (Notice 
of Filing and Immediate Effectiveness of Proposed Rule Change To 
Relocate Its Equity and General Rules From Its Current Rulebook Into 
Its New Rulebook Shell).
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    The Exchange proposes to amend Options 8, Section 12, Clerks, at 
subparagraph (c) to remove the phrase ``or assigned to their employer's 
clearing firm.'' Previously, Clearing Members operated posts on the 
Trading Floor. Member organizations were able to assign clerks to 
operate from those posts. Clearing Member posts no longer exist on the 
Trading Floor and therefore this language is obsolete.
Options 8, Section 22
    The Exchange proposes to update a citation to Options 8, Section 
22(a)(3). The citation is incorrect and should instead refer to Options 
8, Section 22(a)(2). There is no Options 8, Section 22(a)(3). Similar 
changes are also proposed for Options 8, Section 28(e)(2) and Options 
8, Section 39 at C-2 to correct improper citations.
Options 8, Section 28
    The Exchange proposes to amend Options 8, Section 28, 
Responsibilities of Floor Brokers, at subsection (g) to replace the 
word ``limit'' with ``electronic'' before the term ``order book.'' The 
term ``electronic order book'' makes clear the order book is being 
described. Also, the Exchange notes that, today, Floor Brokers may 
enter limit,\10\ market,\11\ stop-limit or stop orders \12\ into the 
electronic order book. Options 8, Section 28(g) only refers to limit 
orders when it should have also noted market, stop-limit and stop 
orders. With respect to remotely entering limit orders into the 
electronic order book through FBMS, the Prior Rule Change stated that 
this capability exists to enable Floor Brokers to access electronic 
liquidity and/or to clear priority orders on the limit order book prior 
to transacting an order in the trading crowd through FBMS.\13\ Placing 
limit orders on the electronic order book does not require exposure in 
open outcry and allows Floor Brokers the ability to clear resting 
Customer orders from the limit order book for their customers in the 
event that a Customer order had priority on the limit order book that 
would otherwise prevent a Floor Qualified Contingent Cross Order from 
being entered in compliance with Options 8, Section 30(e).\14\ The 
Exchange notes that Floor Brokers may also utilize market, stop-limit 
and stop orders to clear resting Customers' orders from the electronic 
order book. Also, placing market, stop-limit and stop orders on the 
electronic order book does not require exposure in open outcry today.
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    \10\ A Limit Order is an order to buy or sell a stated number of 
option contracts at a specified price, or better. See Options 8, 
Section 32(a)(2).
    \11\ A Market Order is an order to buy or sell a stated number 
of option contracts and is to be executed at the best price 
obtainable when the order reaches the post. See Options 8, Section 
32(a)(1).
    \12\ A Stop-Limit Order is a contingency order to buy or sell at 
a limited price when a trade or quote on the Exchange for a 
particular option contract reaches a specified price. A Stop-Limit 
Order to buy becomes a Limit Order executable at the limit price or 
better when the option contract trades or is bid on the Exchange at 
or above the stop-limit price. A Stop-Limit Order to sell becomes a 
Limit Order executable at the limit price or better when the option 
contract trades or is offered on the Exchange at or below the stop-
limit price.
    A Stop Order is a contingency order to buy or sell when a trade 
or quote on the Exchange for a particular option contract reaches a 
specified price. A Stop Order to buy becomes a Market Order when the 
option contract trades or is bid on the Exchange at or above the 
stop price. A Stop Order to sell becomes a Market Order when the 
option contract trades or is offered on the Exchange at or below the 
stop price.
    Notwithstanding the foregoing, a Stop or Stop-Limit Order shall 
not be elected by a trade that is reported late or out of sequence. 
See Options 8, Section 32(b)(1) and (2).
    \13\ See Securities Exchange Act Release No. 68960 (February 20, 
2013), 78 FR 13132, 13134 (February 26, 2013) (SR-Phlx-2013-09) 
(Notice of Filing of Proposed Rule Change To Enhance the 
Functionality Offered on Its Options Floor Broker Management System 
(``FBMS'') by, Among Other Things, Automating Functions Currently 
Performed by Floor Brokers). This filing provided the following 
explanation, ``For example, if a Floor Broker enters a two-sided 
order through the new FBMS and there is an order on the book at a 
price that prevents the Floor Broker's order from executing, FBMS 
will indicate to the Floor Broker how many contracts need to be 
satisfied before the Floor Broker's order can execute at the agreed-
upon price. If the Floor Broker agrees to satisfy that order, 
consistent with the order placed in his care, he can cause FBMS to 
send a portion of one of his orders to Phlx XL to trade against the 
order on the book, thereby clearing it and permitting the remainder 
of the Floor Broker's order to trade. This functionality is optional 
in the sense that the Floor Broker can decide not to trade against 
the book, consistent with order instructions he has been given, and 
therefore not execute his two-sided order at that particular 
price.'' Phlx XL refers to the electronic order book.
    \14\ See supra note 5.
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Options 10, Section 20
    The Exchange proposes to update a reference to Phx Rule 1049 within 
Options 10, Section 20, Options Communications. Phlx Rule 1049 was the 
prior reference to Options 10, Section 20.\15\ At this time the 
Exchange proposes to replace ``Nasdaq PHLX Rule 1049'' with ``Options 
10, Section 20.'' In addition the Exchange proposes to replace ``Nasdaq 
PHLX'' throughout this rule with ``Phlx'' to conform the reference to 
the Exchange to the remainder of the Rulebook.
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    \15\ See Securities Exchange Act Release No. 88213 (February 14, 
2020), 85 FR 9859 (February 20, 2020) (SR-Phlx-2020-03) (Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change To 
Relocate Rules From Its Current Rulebook Into Its New Rulebook 
Shell).
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\16\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\17\ in particular, in that it is designed to 
promote just and equitable principles of trade and to protect investors 
and the public interest.
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    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(5).
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Options 8, Section 2
    The Exchange's proposal to alphabetize the existing definitions 
within Options 8, Section 2 is consistent with the Act as the 
definitions will become easier to locate. Amending the definition of a 
Presiding Exchange Official at current Options 8, Section 2(a)(4) to 
add ``/her'' next to ``his'' in two places is a non-substantive rule 
change. These amendments are intended to bring greater clarity to the 
Options 8 Rules.
    The proposal to define ``Floor Transaction'' as a transaction that 
is effected in open outcry on the Exchange's Trading Floor is 
consistent with the Act. This term is currently defined within Phlx 
Options 7, Section 1 for the purposes of pricing. The defined term is 
consistent with the use of that term in the current rules. This defined 
term will bring greater clarity to the Options 8 Rules.
    The Exchange's proposal to define ``Remote FBMS Transaction'' is 
consistent with the Act. The Exchange recently amended Options 8, 
Section 28, ``Responsibilities of Floor Brokers'' at subsection (g) and 
Section 30, ``Crossing, Facilitation and Solicited Orders'' at 
subsection (e) to permit Floor Brokers to utilize the FBMS 
remotely,\18\ to enter certain orders that do not require exposure in 
open outcry.\19\ The proposed term ``Remote FBMS Transaction'' would 
serve to provide members and member organizations a description of the 
manner in which a Floor Broker may remotely transact

[[Page 38380]]

certain orders while not physically present on the Trading Floor. This 
defined term provides the citations to the applicable rules and further 
makes clear the current regulatory requirements that apply to such 
remote activity. Today, Floor Brokers must comply with these regulatory 
requirements provided they are not exempt from those requirements 
pursuant to Supplementary Material .08 to Options 10, Section 6 or Phlx 
General 4, Rule 1230. Also, the defined term makes clear that all uses 
of FBMS involving open outcry must be conducted while physically 
present on the Trading Floor. This proposed rule would serve as a guide 
for Floor Brokers conducting Remote FBMS Transactions.
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    \18\ See supra note 4.
    \19\ See supra note 5.
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Options 8, Sections 8 and 12
    The Exchange's proposal to update cross citations to Nasdaq General 
4 Rules within Options 8, Section 8, Trading Floor Registration and 
Options 8, Section 12, Clerks is consistent with the Act. These 
amendments are non-substantive and will clarify the rules.
    The Exchange's proposal to amend Options 8, Section 12, Clerks at 
subparagraph (c) to remove the phrase ``or assigned to their employer's 
clearing firm'' is consistent with the Act. Previously, Clearing 
Members operated posts on the Trading Floor. Member organizations were 
able to assign clerks to operate from those posts. Clearing Member 
posts no longer exist on the Trading Floor and therefore this language 
is obsolete.
Options 8, Section 22
    The Exchange's proposal to update citations to Options 8, Section 
22(a)(3) within Options 8, Section 22(a)(2)(E)(i), Options 8, Section 
28(e)(2), and Options 8, Section 39 at C-2 is consistent with the Act 
as the rule text corrects improper citations. Citations to Options 8, 
Section 22(a)(3) should instead refer to Options 8, Section 22(a)(3). 
Options 8, Section 22(a)(3) does not exist.
Options 8, Section 28
    The Exchange's proposal to amend Options 8, Section 28, 
Responsibilities of Floor Brokers, to replace the word ``limit'' with 
``electronic'' before the term ``order book'' is consistent with the 
Act. The term ``electronic order book'' makes clear that specific order 
book being described.
    The Exchange's proposal to amend Options 8, Section 28 to provide 
that Floor Brokers may enter limit, market, stop-limit or stop orders 
into the electronic order book is consistent with the Act. Currently, 
Options 8, Section 28 only refers to limit orders when it should have 
also noted market, stop-limit and stop orders. With respect to remotely 
entering limit orders into the electronic order book through FBMS, the 
Prior Rule Change stated that this capability exists to enable Floor 
Brokers to access electronic liquidity and/or to clear priority orders 
on the limit order book prior to transacting an order in the trading 
crowd through FBMS.\20\ Placing limit orders on the electronic order 
book does not require exposure in open outcry and allows Floor Brokers 
the ability to clear resting Customers orders from the limit order book 
for their customers in the event that a Customer order had priority on 
the limit order book that would otherwise prevent a Floor Qualified 
Contingent Cross Order from being entered in compliance with Options 8, 
Section 30(e).\21\ Today, Floor Brokers may also utilize market, stop-
limit and stop orders to clear resting Customers orders from the 
electronic order book. Also, placing market, stop-limit and stop orders 
on the electronic order book does not require exposure in open outcry.
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    \20\ See supra note 10.
    \21\ See supra note 5.
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Options 10, Section 20
    The Exchange proposes to update a reference to Phx Rule 1049 within 
Options 10, Section 20, Options Communications, and replace ``Nasdaq 
PHLX'' throughout this rule with ``Phlx'' are non-substantive 
amendments that will clarify the Rulebook.

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

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act.
Options 8, Section 2
    The Exchange's proposal to alphabetize the existing definitions 
within Options 8, Section 2 does not impose an undue burden on 
competition as the definitions will become easier to locate. Amending 
the definition of a Presiding Exchange Official at current Options 8, 
Section 2(a)(4) to add ``/her'' next to ``his'' in two places is a non-
substantive rule change. These amendments are intended to bring greater 
clarity to the Options 8 Rules.
    The proposal to define ``Floor Transaction'' as a transaction that 
is effected in open outcry on the Exchange's Trading Floor does not 
impose an undue burden on competition. This term is currently defined 
within Phlx Options 7, Section 1 for the purposes of pricing. The 
defined term is consistent with the use of that term in the current 
rules. This defined term will bring greater clarity to the Options 8 
Rules. The Exchange's proposal to define ``Remote FBMS Transaction'' 
does not impose an undue burden on competition. The proposed term 
``Remote FBMS Transaction'' would serve to provide members and member 
organizations a description of the manner in which a Floor Broker may 
remotely transact certain orders while not physically present on the 
Trading Floor. This defined term provides the citations to the 
applicable rules and further makes clear the current regulatory 
requirements that apply to such remote activity. Today, Floor Brokers 
must comply with these regulatory requirements. Also, the defined term 
makes clear that all uses of FBMS involving open outcry must be 
conducted while physically present on the Trading Floor.
Options 8, Sections 8 and 12
    The Exchange's proposal to update cross citations to Nasdaq General 
4 Rules within Options 8, Section 8, Trading Floor Registration and 
Options 8, Section 12, Clerks does not impose an undue burden on 
competition. These amendments are non-substantive and would clarify the 
current rules.
    The Exchange's proposal to amend Options 8, Section 12, Clerks at 
subparagraph (c) to remove the phrase ``or assigned to their employer's 
clearing firm'' does not impose an undue burden on competition. 
Previously, Clearing Members operated posts on the Trading Floor. 
Member organizations were able to assign clerks to operate from those 
posts. Clearing Member posts no longer exist on the Trading Floor and 
therefore this language is obsolete.
Options 8, Section 22
    The Exchange's proposal to update citations to Options 8, Section 
22(a)(3) within Options 8, Section 22(a)(2)(E)(i), Options 8, Section 
28(e)(2), and Options 8, Section 39 at C-2 does not impose an undue 
burden on competition as the rule text corrects improper citations. 
Citations to Options 8, Section 22(a)(3) should instead refer to 
Options 8, Section 22(a)(3). Options 8, Section 22(a)(3) does not 
exist.
Options 8, Section 28
    The Exchange's proposal to amend Options 8, Section 28, 
Responsibilities of Floor Brokers, at subsection (g) to replace the 
word ``limit'' with ``electronic'' before the term ``order book'' does 
not impose an undue

[[Page 38381]]

burden on competition. The term ``electronic order book'' makes clear 
that specific order book being described.
    The Exchange's proposal to amend Options 8, Section 28(g) to 
provide that Floor Brokers may enter limit, market, stop-limit or stop 
orders into the electronic order book does not impose an undue burden 
on competition. Currently, Options 8, Section 28(g) only refers to 
limit orders when it should have also noted market, stop-limit and stop 
orders. The Exchange notes that Floor Brokers may also utilize market, 
stop-limit and stop orders to clear resting Customers orders from the 
electronic order book. Today, placing market, stop-limit and stop 
orders on the electronic order book does not require exposure in open 
outcry.
Options 10, Section 20
    The Exchange proposes to update a reference to Phx Rule 1049 within 
Options 10, Section 20, Options Communications, and replace ``Nasdaq 
PHLX'' throughout this rule with ``Phlx'' are non-substantive 
amendments that will clarify the Rulebook.

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

    No written comments were either solicited or 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 from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \22\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\23\
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    \22\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \23\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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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    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-Phlx-2021-41 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-Phlx-2021-41. 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-Phlx-2021-41 and should be submitted on 
or before August 10, 2021.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\24\
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    \24\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-15339 Filed 7-19-21; 8:45 am]
BILLING CODE 8011-01-P


