Federal Register 60-Day Notice

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Federal Register / Vol. 89, No. 243 / Wednesday, December 18, 2024 / Notices

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
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. Do not include personal
identifiable information in submissions;
you should submit only information
that you wish to make available
publicly. We may redact in part or
withhold entirely from publication
submitted material that is obscene or
subject to copyright protection. All
submissions should refer to file number
SR–Phlx–2024–66 and should be
submitted on or before January 8, 2025.
For the Commission, by the Division
of Trading and Markets, pursuant to
delegated authority.63
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29922 Filed 12–17–24; 8:45 am]
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[SEC File No. 270–015, OMB Control No.
3235–0021]

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Proposed Collection; Comment
Request; Extension: Rule 6a–3
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 6a–3 (17 CFR
240.6a–3) under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.)
(‘‘Act’’). The Commission plans to
submit this existing collection of
information to the Office of
Management and Budget (‘‘OMB’’) for
extension and approval.
Section 6 of the Act sets out a
framework for the registration and
regulation of national securities
exchanges. Under Rule 6a–3, one of the
rules that implements Section 6, a
63 17

CFR 200.30–3(a)(12).

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national securities exchange (or an
exchange exempted from registration as
a national securities exchange based on
limited trading volume) must provide
certain supplemental information to the
Commission, including any material
(including notices, circulars, bulletins,
lists, and periodicals) issued or made
generally available to members of, or
participants or subscribers to, the
exchange. Rule 6a–3 also requires the
exchanges to file monthly reports that
set forth the volume and aggregate
dollar amount of certain securities sold
on the exchange each month.
The information required to be filed
with the Commission pursuant to Rule
6a–3 is designed to enable the
Commission to carry out its statutorily
mandated oversight functions and to
ensure that registered and exempt
exchanges continue to be in compliance
with the Act.
The Commission estimates that each
respondent makes approximately 12
such filings on an annual basis. Each
response takes approximately 0.5 hours.
Currently, 26 respondents (26 national
securities exchanges) are subject to the
collection of information requirements
of Rule 6a–3. The Commission estimates
that the total time burden for all
respondents is 156 hours per year.
Written comments are invited on: (a)
whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
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 by
February 18, 2025.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg, 100
F Street NE, Washington, DC 20549, or
send an email to: PRA_Mailbox@
sec.gov.

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Dated: December 12, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29915 Filed 12–17–24; 8:45 am]
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[SEC File No. 270–275, OMB Control No.
3235–0235]

Proposed Collection; Comment
Request; Extension: Rule 17a–8
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501–3520), the Securities
and Exchange Commission (the
‘‘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.
Rule 17a–8 (17 CFR 270.17a–8) under
the Investment Company Act of 1940
(the ‘‘Act’’) (15 U.S.C. 80a–1 et seq.) is
entitled ‘‘Mergers of affiliated
companies.’’ Rule 17a–8 exempts
certain mergers and similar business
combinations (‘‘mergers’’) of affiliated
registered investment companies
(‘‘funds’’) from prohibitions under
section 17(a) of the Act (15 U.S.C. 80a–
17(a)) on purchases and sales between a
fund and its affiliates. The rule requires
fund directors to consider certain issues
and to record their findings in board
minutes. The rule requires the directors
of any fund merging with an
unregistered entity to approve
procedures for the valuation of assets
received from that entity. These
procedures must provide for the
preparation of a report by an
independent evaluator that sets forth the
fair value of each such asset for which
market quotations are not readily
available. The rule also requires a fund
being acquired to obtain approval of the
merger transaction by a majority of its
outstanding voting securities, except in
certain situations, and requires any
surviving fund to preserve written
records describing the merger and its
terms for six years after the merger (the
first two in an easily accessible place).
The average annual burden of meeting
the requirements of rule 17a–8 is
estimated to be 7 hours for each fund.
The Commission staff estimates that

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Federal Register / Vol. 89, No. 243 / Wednesday, December 18, 2024 / Notices

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each year approximately 200 funds rely
on the rule. The estimated total average
annual burden for all respondents
therefore is 1,400 hours.
The average cost burden of preparing
a report by an independent evaluator in
a merger with an unregistered entity is
estimated to be $16,180. The average net
cost burden of obtaining approval of a
merger transaction by a majority of a
fund’s outstanding voting securities is
estimated to be $131,302. The
Commission staff estimates that each
year approximately 24 funds hold
shareholder votes that would not
otherwise have held a shareholder vote.
The total annual cost burden of meeting
these requirements is estimated to be
$3,151,248.
The estimates of average burden hours
and average cost burdens are made
solely for the purposes of the Paperwork
Reduction Act, and are not derived from
a comprehensive or even a
representative survey or study. 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 OMB control
number.
Written comments are invited on: (a)
whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimate of the burden of 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
by February 18, 2025.
Please direct your written comments
to: Austin Gerig, Director/Chief Data
Officer, Securities and Exchange
Commission, c/o Tanya Ruttenberg, 100
F Street NE, Washington, DC 20549 or
send an email to: PRA_Mailbox@
sec.gov.
Dated: December 12, 2024.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2024–29913 Filed 12–17–24; 8:45 am]

18:09 Dec 17, 2024

[Release No. 34–101897; File No. SR–
PEARL–2024–56]

Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the MIAX Pearl
Options Fee Schedule LLC To Adopt
Fees for Dedicated Cross Connection
Access to the Testing Systems
Environment
December 12, 2024.

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 November
29, 2024, MIAX PEARL, LLC (‘‘MIAX
Pearl’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) a 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend the MIAX Pearl Options
Exchange Fee Schedule (‘‘Fee
Schedule’’) to establish a fee for market
participants that choose to utilize the
Exchange’s testing systems environment
via a dedicated cross connection.3
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxglobal.com/markets/
us-options/pearl-options/rule-filings at
MIAX Pearl’s 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
1 15

U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 All references to the ‘‘Exchange’’ or ‘‘MIAX
Pearl’’ in this filing refer to MIAX Pearl Options.
Any references to the equities trading facility of
MIAX PEARL, LLC will specifically be referred to
as ‘‘MIAX Pearl Equities.’’
2 17

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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 establish a
fee for market participants that choose
to utilize the Exchange’s testing systems
environment via a dedicated cross
connection. The testing systems
environment is a virtual trading system
environment for Members 4 and nonMembers to test (i) upcoming Exchange
software and code releases, (ii) product
enhancements, and (iii) firm-developed
software, prior to implementation in the
Exchange’s production (e.g., live
trading) environment. Further, the
testing systems environment allows
unlimited testing of existing
functionality, such as order types, order
entry, order management, order
throughput, acknowledgements, risk
settings, mass cancelations, and purge
requests. The testing systems
environment is built to closely
approximate the production
environment to enable Members and
non-Members the ability to test their
systems and mimics the live trading
environment.5
There are currently three methods by
which Members and non-Members may
access the Exchange’s testing systems
environment. One, Members and nonMembers may access the Exchange’s
testing systems environment via a
virtual private network (‘‘VPN’’) that
operates over the internet and provides
site-to-site access. VPN access is
provided for free to all Members and
non-Members.
A second method is via a dedicated
cross connection that allows Members
and non-Members to access the testing
systems environment and is available as
either a 1 gigabit (‘‘Gb’’) or 10Gb
connection. Members and non-Members
that utilize a VPN or a dedicated cross
connection to access the testing systems
environment of the Exchange are also
able to access the testing systems
environments of each of the Exchange’s
affiliated options markets—MIAX
4 The term ‘‘Member’’ means an individual or
organization that is registered with the Exchange
pursuant to Chapter II of Exchange Rules for
purposes of trading on the Exchange as an
‘‘Electronic Exchange Member’’ or ‘‘Market Maker.’’
Members are deemed ‘‘members’’ under the
Exchange Act. See the Definitions section of the Fee
Schedule and Exchange Rule 100.
5 Business continuity and disaster recovery
testing is performed separately and not within the
testing systems environment that is the subject of
this filing.

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