Federal Register 60 Day Notice

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Federal Register / Vol. 86, No. 153 / Thursday, August 12, 2021 / Notices

Parcel Select Contract 47 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2021–120,
CP2021–122.
Sean Robinson,
Attorney, Corporate and Postal Business Law.

it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 716 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2021–119, CP2021–121.
Sean Robinson,
Attorney, Corporate and Postal Business Law.

[FR Doc. 2021–17166 Filed 8–11–21; 8:45 am]
BILLING CODE 7710–12–P

[FR Doc. 2021–17165 Filed 8–11–21; 8:45 am]
BILLING CODE 7710–12–P

POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement
Postal
Notice.

AGENCY:
ACTION:

Sean Robinson,
Attorney, Corporate and Postal Business Law.

POSTAL SERVICE
Product Change—Priority Mail
Negotiated Service Agreement

ServiceTM.

The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice: August
12, 2021.
FOR FURTHER INFORMATION CONTACT:
Sean Robinson, 202–268–8405.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on August 6, 2021,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 717 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2021–121, CP2021–123.
SUMMARY:

Sean Robinson,
Attorney, Corporate and Postal Business Law.

Postal ServiceTM.
Notice.

BILLING CODE 7710–12–P

ACTION:

The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice: August
12, 2021.
FOR FURTHER INFORMATION CONTACT:
Sean Robinson, 202–268–8405.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on July 29, 2021,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 715 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2021–117, CP2021–119.
SUMMARY:

BILLING CODE 7710–12–P

Product Change—Priority Mail
Negotiated Service Agreement

POSTAL SERVICE

Postal ServiceTM.
ACTION: Notice.

Product Change—Priority Mail
Express, Priority Mail, & First-Class
Package Service Negotiated Service
Agreement

AGENCY:

The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice: August
12, 2021.
FOR FURTHER INFORMATION CONTACT:
Sean Robinson, 202–268–8405.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on August 2, 2021,

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SUMMARY:

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BILLING CODE 7710–12–P

SECURITIES AND EXCHANGE
COMMISSION

[FR Doc. 2021–17163 Filed 8–11–21; 8:45 am]

POSTAL SERVICE

[FR Doc. 2021–17164 Filed 8–11–21; 8:45 am]

AGENCY:

Sean Robinson,
Attorney, Corporate and Postal Business Law.

[FR Doc. 2021–17167 Filed 8–11–21; 8:45 am]

The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on July 29, 2021,
it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Express, Priority Mail, &
First-Class Package Service Contract 75
to Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2021–118, CP2021–120.
SUPPLEMENTARY INFORMATION:

Postal ServiceTM.
Notice.

AGENCY:
ACTION:

The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice: August
12, 2021.
FOR FURTHER INFORMATION CONTACT:
Sean Robinson, 202–268–8405.
SUMMARY:

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[SEC File No. 270–126, OMB Control No.
3235–0287]

Proposed Collection; Comment
Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Extension:
Form 4

Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Under Section 16(a) of the Securities
Exchange Act of 1934 (‘‘Exchange Act’’)
(15 U.S.C. 78a et seq.) every person who
is directly or indirectly the beneficial
owner of more than 10 percent of any
class of any equity security (other than
an exempted security) which registered
under Section 12 of the Exchange Act
(15 U.S.C. 78l), or who is a director or
an officer of the issuer of such security
(collectively ‘‘insiders’’), must file a
statement with the Commission
reporting their ownership. Form 4 is a
statement to disclose changes in an
insider’s ownership of securities. The
information is used for the purpose of
disclosing the equity holdings of
insiders of reporting companies.
Approximately 338,207 insiders file
Form 4 annually and it takes
approximately 0.5 hours to prepare for
a total of 169,104 annual burden hours.
Written comments are invited on: (a)
Whether this proposed collection of

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Federal Register / Vol. 86, No. 153 / Thursday, August 12, 2021 / Notices
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
Please direct your written comment to
David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Cynthia
Roscoe, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
[email protected].
Dated: August 6, 2021.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021–17157 Filed 8–11–21; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–92599; File No. SR–CBOE–
2021–041]

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Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 23,
2021, Cboe Exchange, Inc. (the
‘‘Exchange’’ or ‘‘Cboe Options’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.3
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 On August 4, 2021, the Exchange filed Partial
Amendment No. 1 to the proposed rule change. The
Exchange withdrew Partial Amendment No. 1 on
August 6, 2021.

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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.

1. Purpose
The purpose of this proposed rule
change is to amend certain rules to
accommodate the listing and trading of
certain FLexible EXchange (‘‘FLEX’’)
index options with an index multiplier
of one (‘‘Micro FLEX Index Options’’).
The Exchange has the authority to list
options on broad-based indexes for
which the value of the underlying is at
least 100 with an index multiplier of
one 4 and proposes to expand that

August 6, 2021.

2 17

I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe Exchange, Inc. (the ‘‘Exchange’’
or ‘‘Cboe Options’’) proposes to amend
certain Rules to accommodate the listing
and trading of Micro FLEX Index
Options and to make other clarifying
and nonsubstantive changes. The text of
the proposed rule change is provided in
Exhibit 5.
The text of the proposed rule change
is also available on the Exchange’s
website (http://www.cboe.com/
AboutCBOE/CBOELegal
RegulatoryHome.aspx), at the
Exchange’s Office of the Secretary, and
at the Commission’s Public Reference
Room.

A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change

Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Filing of a
Proposed Rule Change To Amend
Certain Rules To Accommodate the
Listing and Trading of Micro FLEX
Index Options and To Make Other
Clarifying and Nonsubstantive
Changes

1 15

The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.

4 See Rule 4.11 (definition of micro-option).
Currently, the Exchange has the authority to list
options on 13 indexes that satisfy this criteria: S&P
500 Index, Mini-S&P 500 Index (XSP), Russell 2000
Index (RUT), Mini-Russell 2000 Index (MRUT),
Dow Jones Industrial Average (DJX), S&P 100 Index
(OEX and XEO), S&P 500 ESG Index (SPESG), MSCI
EAFE Index (MXEA), MSCI Emerging Markets
Index (MXEF), Russell 1000 Growth Index (RLG),
Russell 1000 Value Index (RLV), Russell 1000 Index
(RUI), and FTSE 100 Mini-Index (UKXM). The
proposed rule change would authorize the

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44411

authority to list FLEX Index Options on
the same indexes with an index
multiplier of one. The Exchange
believes Micro FLEX Index Options will
expand investors’ choices and flexibility
by listing and trading FLEX Options on
larger-valued broad-based indexes,
which provide investors with the ability
to gain exposure to the market, with a
notional value of 1/100th of the value of
currently available FLEX Index Options.
The Exchange believes the additional
granularity provided by Micro FLEX
Index Options with respect to the prices
at which investors may execute and
exercise index options on the Exchange
will appeal to institutional investors by
providing them with an additional
exchange-traded tool to manage the
positions and associated risk in their
portfolios more precisely based on
notional value, which currently may
equal a fraction of a standard contract.
For example, suppose an investor holds
a security portfolio of $10,000,000 and
desires to hedge its portfolio with SPX
options. In order to hedge the entire
portfolio with SPX options, the investor
would need to trade 23.11 contracts
($10,000,000/$432,770).5 The nearest
whole number of contracts would be 23
contracts, which would have a total
notional value of $9,953,710. As a
result, the investor could only hedge
within $46,290 of its portfolio value
with SPX options with an index
multiplier of 100 and would be
underhedged. However, with SPX
micro-options, the investor would need
to trade 2,310.70 contracts ($10,000,000/
$4,327.70). The nearest whole number
of contracts would be 2,311 SPX microoptions,6 which would have a total
notional value of $10,001,314.70. This
will allow the investor to hedge within
$1,315 of its portfolio value. Therefore,
the proposed rule change would permit
this investor to hedge its portfolio more
effectively with far greater precision.
The Exchange notes investors may
currently execute and exercise options
with this smaller contract multiplier in
the unregulated over-the-counter
(‘‘OTC’’) options market. The Exchange
understands that investors may prefer to
trade such options in a listed
environment to receive the benefits of
trading listing options, including (1)
enhanced efficiency in initiating and
Exchange to list Micro FLEX Index Options on the
same 13 indexes.
5 This assumes an S&P 500 Index value of
4,327.70.
6 An investor could also trade 23 SPX options and
11 micro-options. We do not, however, expect
investors to make two separate trades in this
manner due to the additional price and execution
risk that accompanies two separate trades compared
to a single trade.

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