[Federal Register Volume 85, Number 149 (Monday, August 3, 2020)]
[Notices]
[Pages 46767-46768]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16807]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-89419; File No. 4-533]
Joint Industry Plan; Notice of Filing and Immediate Effectiveness
of Amendment to the National Market System Plan for the Selection and
Reservation of Securities Symbols to Add MEMX LLC as a Party Thereto
July 29, 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 July 6, 2020, MEMX LLC (``MEMX'' or the ``Exchange'') filed
with the Securities and Exchange Commission (``Commission'') an
amendment to the National Market System Plan for the Selection and
Reservation of Securities Symbols (``Symbology Plan'' or ``Plan'').\3\
The amendment proposes to add MEMX as a party to the Symbology Plan.
The Commission is publishing this notice to solicit comments on the
proposed amendment from interested persons.
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\1\ 15 U.S.C. 78k-1(a)(3).
\2\ 17 CFR 242.608.
\3\ On November 6, 2008, the Commission approved the Symbology
Plan that was originally proposed by the Chicago Stock Exchange,
Inc. (``CHX''), The Nasdaq Stock Market, Inc. (n/k/a The Nasdaq
Stock Market LLC) (``Nasdaq''), National Association of Securities
Dealers, Inc. (``NASD'') (n/k/a Financial Industry Regulatory
Authority, Inc. (``FINRA'')), National Stock Exchange, Inc.
(``NSX'') (n/k/a NYSE National, Inc. (``NYSE National'')), and
Philadelphia Stock Exchange, Inc. (n/k/a Nasdaq PHLX LLC
(``Phlx'')), subject to certain changes. See Securities Exchange Act
Release No. 58904, 73 FR 67218 (November 13, 2008) (File No. 4-533).
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I. Description and Purpose of the Amendment
The current parties to the Symbology Plan are BOX Options Exchange,
LLC (``BOX''), Nasdaq BX, Inc. (``BX''), Cboe BZX Exchange, Inc.
(``CboeBZX''), Cboe EDGA Exchange, Inc. (``CboeEDGA''), Cboe EDGX
Exchange, Inc. (``CboeEDGX''), Cboe Exchange, Inc. (``Cboe''), CHX,
FINRA, Investors Exchange, LLC (``IEX''), Miami International
Securities Exchange, LLC (``MIAX''), Nasdaq ISE, LLC (``ISE''), Nasdaq,
New York Stock Exchange LLC (``NYSE''), NYSE American LLC (``NYSE
American''), NYSE National, NYSE Arca, Inc. (``NYSE Arca''), Phlx, and
Long-Term Stock Exchange (``LTSE'').\4\
[[Page 46768]]
The proposed amendment to the Symbology Plan would add MEMX as a party
to the Symbology Plan. A self-regulatory organization (``SRO'') may
become a party to the Symbology Plan if it satisfies the requirements
of Section I(c) of the Plan. Specifically, an SRO may become a party to
the Symbology Plan if: (i) it maintains a market for the listing or
trading of Plan Securities \5\ in accordance with rules approved by the
Commission; (ii) it signs a current copy of the Plan; and (iii) it pays
to the other parties a proportionate share of the aggregate development
costs, based upon the number of symbols reserved by the new party
during the first twelve (12) months of such party's membership.\6\
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\4\ On November 18, 2008, ISE filed with the Commission an
amendment to the Plan to add ISE as a member to the Plan. See
Securities and Exchange Act Release No. 59024 (November 26, 2008),
73 FR 74538 (December 8, 2008) (File No. 4-533). On December 22,
2008, NYSE, NYSE Arca, and NYSE Alternext (n/k/a NYSE American)
(``NYSE Group Exchanges''), and Cboe filed with the Commission
amendments to the Plan to add the NYSE Group Exchanges and Cboe as
members to the Plan. See Securities Exchange Act Release No. 59162
(December 24, 2008), 74 FR 132 (January 2, 2009) (File No. 4-533).
On December 24, 2008, BSE (n/k/a BX) filed with the Commission an
amendment to the Plan to add BSE as a member to the Plan. See
Securities Exchange Act Release No. 59187 (December 30, 2008), 74 FR
729 (January 7, 2009) (File No. 4-533). On September 30, 2009, BATS
(n/k/a CboeBZX) filed with the Commission an amendment to the Plan
to add BATS as a member to the Plan. See Securities Exchange Act
Release No. 60856 (October 21, 2009), 74 FR 55276 (October 27, 2009)
(File No. 4-533). On July 7, 2010, EDGA (n/k/a CboeEDGA) and EDGX
(n/k/a CboeEDGX) filed with the Commission an amendment to the Plan
to add EDGA and EDGX, each as a party to the Symbology Plan. See
Securities Exchange Act Release No. 62573 (July 26, 2010), 75 FR
45682 (August 3, 2010) (File No. 4-533). On May 7, 2012, BOX filed
with the Commission an amendment to the Plan to add BOX as a member
to the Plan. See Securities and Exchange Act Release No. 66957 (May
10, 2012), 77 FR 28904 (May 16, 2012). On November 4, 2016, IEX
filed with the Commission an amendment to the Plan to add IEX as a
member to the Plan. See Securities Exchange Act Release No. 79422
(November 29, 2016), 81 FR 87645 (December 5, 2016). On February 26,
2018, MIAX filed with the Commission an amendment to the Plan to add
MIAX as a member to the Plan. See Securities Exchange Act Release
No. 82885 (March 15, 2018), 83 FR 12430 (March 21, 2018). On October
17, 2019, LTSE filed with the Commission an amendment to the Plan to
add LTSE as a member to the Plan. See Securities Exchange Act
Release No. 87597 (November 22, 2019), 84 FR 65448 (November 27,
2019).
\5\ ``Plan Securities'' are defined in the Symbology Plan as
securities that: (i) Are NMS securities as currently defined in Rule
600(a)(46) under the Act; and (ii) any other equity securities
quoted, traded and/or trade reported through an SRO facility.
\6\ Sections I(c) and V(a) of the Plan.
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MEMX has submitted a signed copy of the Symbology Plan to the
Commission in accordance with the requirement set forth in the
Symbology Plan regarding new parties to the plan. Additionally, MEMX
has represented that it maintains a market for the listing or trading
of Plan Securities. Finally, MEMX has agreed to pay all costs required
by MEMX pursuant to the Symbology Plan, including its proportionate
share of the aggregate development costs previously paid by the other
parties to the Processor.
II. Effectiveness of the Proposed Symbology Plan Amendment
The foregoing proposed Symbology 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 the amendment, the Commission may summarily abrogate
the amendment and require that it be refiled pursuant to paragraph
(b)(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(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 [email protected]. Please include
File Number 4-533 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 4-533. 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 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 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
such filing also will be available for inspection and copying at the
Parties' principal offices. 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 4-533,
and should be submitted on or before August 24, 2020.
By the Commission.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-16807 Filed 7-31-20; 8:45 am]
BILLING CODE 8011-01-P