81 FR 63238 - MIAX PEARL, LLC; Notice of Filing of Application for Registration as a National Securities Exchange Under Section 6 of the Securities Exchange Act of 1934

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 178 (September 14, 2016)

Page Range		63238-63238
FR Document		2016-22034

Federal Register, Volume 81 Issue 178 (Wednesday, September 14, 2016)

[Federal Register Volume 81, Number 178 (Wednesday, September 14, 2016)]
[Notices]
[Page 63238]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22034]



[[Page 63238]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78793; File No. 10-227]


MIAX PEARL, LLC; Notice of Filing of Application for Registration 
as a National Securities Exchange Under Section 6 of the Securities 
Exchange Act of 1934

September 8, 2016.
    On August 12, 2016, MIAX PEARL, LLC (``PEARL'' or ``Applicant'') 
submitted to the Securities and Exchange Commission (``Commission'') a 
Form 1 application under the Securities Exchange Act of 1934 
(``Exchange Act''), seeking registration as a national securities 
exchange under Section 6 of the Exchange Act.
    The Commission is publishing this notice to solicit comments on 
PEARL's Form 1 application. The Commission will take any comments it 
receives into consideration in making its determination about whether 
to grant PEARL's application to be registered as a national securities 
exchange. The Commission will grant the registration if it finds that 
the requirements of the Exchange Act and the rules and regulations 
thereunder with respect to PEARL are satisfied.\1\
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    \1\ 15 U.S.C. 78s(a).
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    The Applicant's Form 1 application provides detailed information on 
how PEARL proposes to satisfy the requirements of the Exchange Act. The 
Form 1 application provides that PEARL would operate a fully automated 
electronic trading platform for the trading of listed options and would 
not maintain a physical trading floor. It also provides that liquidity 
would be derived from orders to buy and orders to sell submitted to 
PEARL electronically by its registered broker-dealer members, as well 
as from quotes submitted electronically by member market makers. 
Further, PEARL is wholly-owned by its parent company, Miami 
International Holdings, Inc. (``Miami Holdings''), which is also the 
parent company of an existing national securities exchange, Miami 
International Securities Exchange, LLC.
    A more detailed description of the manner of operation of PEARL's 
proposed system can be found in Exhibit E to PEARL's Form 1 
application. The proposed rulebook for the proposed exchange can be 
found in Exhibit B to PEARL's Form 1 application, and the governing 
documents for both PEARL and Miami Holdings can be found in Exhibit A 
and Exhibit C to PEARL's Form 1 application, respectively. A listing of 
the officers and directors of PEARL can be found in Exhibit J to 
PEARL's Form 1 application.
    PEARL's Form 1 application, including all of the Exhibits 
referenced above, is available online at www.sec.gov/rules/other.shtml 
as well as in the Commission's Public Reference Room. Interested 
persons are invited to submit written data, views, and arguments 
concerning PEARL's Form 1, including whether the application is 
consistent with the Exchange 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 10-227 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 10-227. 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/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to PEARL's Form 1 filed with the Commission, 
and all written communications relating to the application 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. 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 publicly available. All 
submissions should refer to File Number 10-227 and should be submitted 
on or before October 31, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\2\
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    \2\ 17 CFR 200.30-3(a)(71)(i).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-22034 Filed 9-13-16; 8:45 am]
 BILLING CODE 8011-01-P

63238 Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices

SECURITIES AND EXCHANGE the officers and directors of PEARL can For the Commission, by the Division of
COMMISSION be found in Exhibit J to PEARL’s Form Trading and Markets, pursuant to delegated
1 application. authority.2
[Release No. 34–78793; File No. 10–227] Brent J. Fields,
PEARL’s Form 1 application,
Secretary.
MIAX PEARL, LLC; Notice of Filing of including all of the Exhibits referenced
Application for Registration as a [FR Doc. 2016–22034 Filed 9–13–16; 8:45 am]
above, is available online at
National Securities Exchange Under www.sec.gov/rules/other.shtml as well BILLING CODE 8011–01–P
Section 6 of the Securities Exchange as in the Commission’s Public Reference
Act of 1934 Room. Interested persons are invited to SECURITIES AND EXCHANGE
September 8, 2016. submit written data, views, and COMMISSION
On August 12, 2016, MIAX PEARL, arguments concerning PEARL’s Form 1,
including whether the application is [Investment Company Act Release No.
LLC (‘‘PEARL’’ or ‘‘Applicant’’)
32254; 812–13889]
submitted to the Securities and consistent with the Exchange Act.
Exchange Commission (‘‘Commission’’) Comments may be submitted by any Advisors Series Trust and Orinda
a Form 1 application under the of the following methods: Asset Management, LLC; Notice of
Securities Exchange Act of 1934 Intention To Rescind an Order
(‘‘Exchange Act’’), seeking registration Electronic Comments
as a national securities exchange under September 8, 2016.
Section 6 of the Exchange Act. • Use the Commission’s Internet AGENCY: Securities and Exchange
The Commission is publishing this comment form (http://www.sec.gov/ Commission (‘‘Commission’’).
notice to solicit comments on PEARL’s rules/sro.shtml); or
ACTION: Notice of the Commission’s
Form 1 application. The Commission • Send an email to rule-comments@ intention to rescind an order pursuant
will take any comments it receives into sec.gov. Please include File Number 10– to section 38(a) of the Investment
consideration in making its 227 on the subject line. Company Act of 1940 (‘‘Act’’).
determination about whether to grant
PEARL’s application to be registered as Paper Comments SUMMARY: At the request of Advisors
a national securities exchange. The Series Trust (‘‘AST’’) and Orinda Asset
Commission will grant the registration if • Send paper comments in triplicate
Management, LLC (‘‘Orinda,’’ and
it finds that the requirements of the to Secretary, Securities and Exchange
together, the ‘‘Applicants’’), the
Exchange Act and the rules and Commission, 100 F Street, NE.,
Commission intends to rescind an order
regulations thereunder with respect to Washington, DC 20549–1090. previously issued to Applicants under
PEARL are satisfied.1 All submissions should refer to File section 6(c) of the Act that granted an
The Applicant’s Form 1 application Number 10–227. This file number exemption from section 15(a) of the Act
provides detailed information on how should be included on the subject line and rule 18f–2 under the Act, as well as
PEARL proposes to satisfy the from certain disclosure requirements.1
if email is used. To help the
requirements of the Exchange Act. The Hearing or Notification of Hearing: An
Commission process and review your
Form 1 application provides that PEARL order rescinding the Prior Order will be
would operate a fully automated comments more efficiently, please use
only one method. The Commission will issued unless the Commission orders a
electronic trading platform for the hearing. Interested persons may request
trading of listed options and would not post all comments on the Commission’s
Internet Web site (http://www.sec.gov/ a hearing by writing to the
maintain a physical trading floor. It also Commission’s Secretary and serving
provides that liquidity would be derived rules/other.shtml). Copies of the
Applicants with a copy of the request,
from orders to buy and orders to sell submission, all subsequent
personally or by mail. Hearing requests
submitted to PEARL electronically by its amendments, all written statements
should be received by the Commission
registered broker-dealer members, as with respect to PEARL’s Form 1 filed by 5:30 p.m. on October 3, 2016 and
well as from quotes submitted with the Commission, and all written should be accompanied by proof of
electronically by member market communications relating to the service on the Applicants, in the form
makers. Further, PEARL is wholly- application between the Commission of an affidavit, or, for lawyers, a
owned by its parent company, Miami and any person, other than those that certificate of service. Pursuant to rule 0–
International Holdings, Inc. (‘‘Miami may be withheld from the public in 5 under the Act, hearing requests should
Holdings’’), which is also the parent accordance with the provisions of 5 state the nature of the writer’s interest,
company of an existing national U.S.C. 552, will be available for Web any facts bearing upon the desirability
securities exchange, Miami site viewing and printing in the of a hearing on the matter, the reason for
International Securities Exchange, LLC. Commission’s Public Reference Room, the request, and the issues contested.
A more detailed description of the 100 F Street NE., Washington, DC Persons who wish to be notified of a
manner of operation of PEARL’s 20549, on official business days hearing may request notification by
proposed system can be found in
between the hours of 10:00 a.m. and writing to the Commission’s Secretary.
Exhibit E to PEARL’s Form 1
3:00 p.m. All comments received will be ADDRESSES: Secretary, U.S. Securities
application. The proposed rulebook for
posted without change; the Commission and Exchange Commission, 100 F Street
the proposed exchange can be found in
asabaliauskas on DSK3SPTVN1PROD with NOTICES

does not edit personal identifying NE., Washington, DC 20549–1090.
Exhibit B to PEARL’s Form 1
application, and the governing information from submissions. You Applicants, Advisors Series Trust, 615
documents for both PEARL and Miami should submit only information that East Michigan Street, Milwaukee, WI
Holdings can be found in Exhibit A and you wish to make publicly available. All
Exhibit C to PEARL’s Form 1 submissions should refer to File 2 17CFR 200.30–3(a)(71)(i).
1 Advisors Series Trust and Orinda Asset
application, respectively. A listing of Number 10–227 and should be
Management, LLC, Investment Company Act
submitted on or before October 31, Release Nos. 30043 (April 23, 2012) (notice) and
1 15 U.S.C. 78s(a). 2016. 30065 (May 21, 2012) (order) (‘‘Prior Order’’).

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Document Created: 2016-09-14 02:27:26
Document Modified: 2016-09-14 02:27:26

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 63238