[Federal Register Volume 86, Number 92 (Friday, May 14, 2021)]
[Notices]
[Pages 26567-26572]
[FR Doc No: 2021-10176]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-91830; File No. SR-BX-2021-012]

Self-Regulatory Organizations; Nasdaq BX, Inc.; 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

May 10, 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 April 27, 2021, Nasdaq BX, Inc. (``BX'' or ``Exchange'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I and II 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 relocate its equity and general rules from
its current Rulebook into its new Rulebook shell.
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/bx/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 purpose of this rule change is to relocate BX's equity and
general rules from the current Rulebook into the new Rulebook shell.\3\
The Exchange also proposes a number of minor, non-substantive changes
to the Rulebook shell as described below. The relocation and
harmonization of these rules is part of the Exchange's continued effort
to promote efficiency and conformity of its rules to the extent
applicable with those of its affiliated exchanges. The Exchange
believes that the placement of these rules into their new location in
the Rulebook shell will facilitate the use of the Rulebook by members.
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    \3\ Previously, the Exchange filed to relocate other rules
within its Rulebook. See Securities Exchange Act Release No. 87468
(November 5, 2019), 84 FR 61091 (November 12, 2019) (SR-BX-2019-
039).
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Universal Changes
    The Exchange proposes to update all cross-references within the
Rulebook shell to the new relocated rule cites. The Exchange proposes
to replace internal rule references to simply state ``this Rule'' where
the rule is citing itself without a more specific cite included in the
Rule. For example, if BX Rule 4619 refers currently to ``Rule 4619'' or
``this Rule 4619'' the Exchange will amend the phrase to simply ``this
Rule.'' Except where the Exchange specifies below that it will retain
the current rule numbering, the Exchange also proposes to conform the
paragraph numbering and lettering to that used in the Rulebook shell
for greater consistency, and to correct punctuation. The Exchange
proposes to rename the term ``Commentary'' with ``Supplementary
Material.'' Furthermore, the Exchange proposes to delete reserved
rules, other than those within the 5000 Series Rules and 11100 Series
Rules which are both being relocated without deleting the reserved
rules, with the exception of Rules 5300 and 5400, which are currently
reserved, and are being deleted. The Exchange also proposes to delete
rules that are currently marked as deleted.
    The Exchange proposes to update the references to the 9000 Series
and 9600 Series to refer to the General 5, 9000 Series and General 5,
9600 Series respectively in connection with a prior rule change that
incorporated Nasdaq General 5, Rule 9000 and 9600 Series into BX
General 5.\4\
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    \4\ See Securities and Exchange Act Release No. 88938 (June 1,
2020), 85 FR 33235 (May 26, 2020) (SR-BX-2020-009) (Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Relocate the
BX Disciplinary Rules and Incorporate by Reference the Disciplinary
Rules of The Nasdaq Stock Market LLC).
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    The Exchange also proposes to delete the following section headers
that are currently within the BX Rules: 2100. General Standards; 2800.
Special Products; 2900. Responsibilities to Other Brokers or Dealers;
\5\ 2000A. Business Conduct; 3000. Responsibilities Relating to
Associated Persons, Employees, and Others' Employees; 3300. Trading;
4000. Listing and Trading on the Exchange; 4100, General; 4400, Other
Listing Rules; 4600, Requirements for Equities Market Makers and Other
Participants in the Nasdaq BX Equities Market; 4610, Registration and
Other Requirements; 4700, The Nasdaq BX Equities Market; 4750,
Execution Services; 5000. BX Venture Market Listing Rules; 6000. Other
Systems and Programs; \6\ 7000A. Order Audit Trail Series; 7400A, Order
Audit Trail System; and 11000. Uniform Practice Code.
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    \5\ BX proposes to delete the other non-substantive rule text
under this header which replicates the header and indicates that
Rule 2910 was deleted.
    \6\ BX proposes to delete the non-substantive reference to 6800
which is reserved under this header.
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General 1
    The Exchange proposes to amend the section heading from General 1,
General 1 to General 1, Section 1. The Exchange also proposes to
retitle General 1, Section 1 from ``General Provisions'' to
``Definitions.'' The Exchange proposes to update the citations within
General 1, Section 10 (Exchange Review Council) to account for rule
relocations proposed herein and remove the word ``Rules'' associated
with the citations.
General 2
    The Exchange proposes to relocate Rule 4615 (Sponsored
Participants) to General 2, Section 22, which is currently reserved, to
harmonize the Exchange's rule numbering to that of Nasdaq PHLX LLC
(``Phlx'') General 2, Section 22, which currently sets forth the same
rule on Phlx.
General 3
    The Exchange proposes to reword references to the Nasdaq Rule 1000
Series to Nasdaq General 3, Rule 1000 Series to reflect the placement
and numbering of the rule within the

Nasdaq Rulebook.\7\ The Exchange proposes to update the citation to
Nasdaq Rule 0120 within General 3, Section 1. Nasdaq Rule 0120 was
relocated to General 1 within SR-NASDAQ-2019-098.\8\ The Exchange also
proposes to update citations to Rules 3010 and 3011 within General 3,
Section 1. Rule 3010 was relocated to General 9, Section 20 and Rule
3011 was relocated to General 9, Section 37 within SR-BX-2019-039.\9\
Similarly, Nasdaq Rule 3010 was relocated to General 9, Section 20 and
Nasdaq Rule 3011 was relocated to General 9, Section 37 within SR-
NASDAQ-2019-039.\10\
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    \7\ See Securities Exchange Act Release No. 87778 (December 17,
2019), 84 FR 70590 (December 23, 2019) (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).
    \8\ The Exchange previously relocated certain definitions within
Rule 0120, ``Definitions'' into General 1 and Equity 1. The
definitions applicable to General 3 are located within General 1.
See Securities Exchange Act Release No. 87778 (December 17, 2019),
84 FR 70590 (December 23, 2019) (SR-NASDAQ-2019-098) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To
Relocate Rules From Its Current Rulebook Into Its New Rulebook
Shell).
    \9\ See supra note 3.
    \10\ See Securities Exchange Act Release No. 87778 (December 17,
2019), 84 FR 70590 (December 23, 2019) (SR-NASDAQ-2019-098) (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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General 9
    The Exchange proposes to relocate Rule 2170 (Disruptive Quoting and
Trading Activity Prohibited) to General 9, Section 53, and to reserve
General 9, Section 52. The Exchange also proposes to re-number certain
subsections under proposed new General 9, Section 53 to conform to the
numbering in Nasdaq General 9, Section 53. In particular, relocating
Rule 2170 to General 9, Section 53 will harmonize the Exchange's rule
numbering to that of Phlx General 9, Section 53, which currently sets
forth the same rule prohibiting disruptive quoting and trading activity
on Phlx. Because this Rule is being added to General 9, which applies
to both the Exchange's equities and options markets, the Exchange
proposes to delete a duplicate rule in Options 9, Section 4, which
applies only to the options market. The Exchange proposes to relocate
Rule 2843, Account Approval, to General 9, Section 64 to harmonize the
Exchange's rules to that of Phlx General 9, Section 64. The proposed
rule numbering is to ensure that the Exchange's General 9 rules mirror
its affiliated exchanges' General 9 rules as closely as practicable.
    The Exchange also proposes to relocate Rule 4570 (Custodian of
Books and Records) to General 9, Section 71 similar to Nasdaq. Also, BX
proposes to reserve Sections 54-70, except Section 64.
    The Exchange further proposes to update several obsolete cross-
references throughout General 9 that presently refer to rules that were
already moved to the Rulebook shell under SR-BX-2019-039.\11\ The
Exchange also proposes to update the cross-references to Rule 2310A
(within General 9, Section 12(b)), and Rule 2310A (within General 9,
Section 18(c)(1)(C)(iv)) to relocated Equity 10, Section 1, and update
the references to General 4, Section 1.1200 Series and General 4,
Section 1.1210 (within General 9, Section 20(b)) by replacing ``Section
1.'' with the word ``Rule''.
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    \11\ See supra note 3.
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Equity 1
    The Exchange proposes to amend the section header from Equity 1,
Equity 1 to Equity 1, Section 1. The Exchange also proposes to add
``(a)'' before the phrase ``When used in the Equity Rules . . .'' to
conform to the paragraph lettering of the Rulebook shell. Lastly, the
Exchange proposes to relocate the defined terms currently within Rule
4701(a)-(l) into Equity 1, Section 1(a)(6), subsections (1)-(4) and
(8)-(18). With respect to current Rule 4701(a), which contains the term
``Nasdaq BX Equities Market'' or ``System'', BX notes this term
currently exists within Equity 1, Section 1(6), however, BX proposes to
add portions of Rule 4701(a) that are not currently described within
Equity 1, Section 1(6). Current Rule 4701(a) provides, ``(a) The term
``Nasdaq BX Equities Market'' or ``System'' shall mean the automated
system for order execution and trade reporting owned and operated by
the Exchange. The System comprises: . . .''. The Exchange notes that
provisions of Rule 4701(a) starting with the phrase ``The System
comprises . . .'' are not contained in the current definition of
``Nasdaq BX Equities Market'' or ``System'' at Equity 1, Section 1(6),
and therefore, the Exchange proposes to relocate those provisions to
proposed Equity 1, Section 1(a)(6). The Exchange notes that the
remainder of the rule text within Rule 4701(a) was duplicative with the
rule text within Equity 1, Section 1(6) and therefore, the Exchange
proposes to delete the duplicative text.
Equity 2
    The Exchange proposes to relocate the following rules into Equity 2
which is titled Equity Market Participants. The Exchange proposes to
instead title this section ``Market Participants'' to conform to
Nasdaq's Rulebook Structure.\12\
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    \12\ 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).

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  4601. Scope.
Section 2................  4200. Definitions.\13\
Section 3................  4611. Nasdaq BX Market Participant
                            Registration.
Section 4................  4612. Registration as an Equities Market
                            Maker.
Section 5................  4613. Market Maker Obligations.\14\
Section 6................  4614. Stabilizing Bids.
Section 7................  4616. Reports.
Section 8................  4617. Normal Business Hours.
Section 9................  4618. Clearance and Settlement.
Section 10...............  4619. Withdrawal of Quotations.
Section 11...............  4620. Voluntary Termination of Registration.
Section 12...............  4621. Suspension and Termination of
                            Quotations.
Section 13...............  4622. Termination of Exchange Service.
Section 14...............  4623. Alternative Trading Systems.
Section 15...............  4624. Penalty Bids and Syndicate Covering
                            Transactions.
Section 16...............  4625. Obligation to Provide Information.\15\
Section 17...............  4626. Limitation of Liability.

Section 18...............  4627. Obligation to Honor System Trades.
Section 19...............  4628. Compliance with Rules and Registration
                            Requirements.
Section 20...............  4631. Customer Disclosures.
------------------------------------------------------------------------

Equity 3
    The Exchange proposes to re-title Equity 3, from ``Equity Trading
Rules'' to ``BX Venture Market Listing Rules.'' The Exchange proposes
to relocate to Equity 3 the Rule 5000 Series BX Venture Market Listing
Rules without changing the rule numbers. The Exchange proposes to
delete Rules 5300 and 5400, which are reserved. The Exchange also
proposes to correct the spelling of the word ``decision'' within Rule
5815, Review of Staff Determinations by Hearings Panel.
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    \13\ The Exchange proposes to amend the current rule text of
Rule 4200(a), which refers to the Rule 4000 Series, to refer to
Equity 2. The definitions within current Rule 4200(a)(1) and (2) are
federal rules which apply to Equity 2 in general and the definition
within Rule 4200(a)(3) is simply a defined term. The defined terms
are only used in Equity 2.
    \14\ BX proposes a minor technical amendment to change an ``a''
to ``an'' within the first sentence of proposed Section 5.
    \15\ The Exchange will not port over the reference to IM-4120-1
into the Rulebook shell as this Rule does not currently exist in the
BX Rulebook.
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Equity 3A
    The Exchange proposes to add a new Equity 3A, titled ``Other
Listing Rules and Rules Regarding Unlisted Trading Privileges.'' The
Exchange proposes to relocate the following rules into Equity 3A:

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  4201. Operation of Listing Standards.
Section 2................  4420. Additional Quantitative Listing
                            Criteria.
Section 3................  4421. Derivative Securities Traded under
                            Unlisted Trading Privileges.
Section 4................  4450. Additional Quantitative Maintenance
                            Criteria.
------------------------------------------------------------------------

    The Exchange proposes to remove reserved sections and re-letter and
re-number the remaining sections in Rules 4201, 4420, 4421, and 4450.
Equity 4
    The Exchange proposes to re-title Equity 4, currently ``Limit Up
Limit Down,'' to ``Equity Trading Rules.'' The Exchange proposes to
relocate Rules 4110, 4120, 4121, 4702, 4703, 4752, 4756, 4757, 4758,
4759, 4760, 4761, 4762, 4763, 4770 and 4780 into Equity 4 and retain
the current rule numbers. Within Rule 4110 the Exchange is adding a
reference to Equity 3A because the listing standards, as proposed
herein, are set forth in the Rule 5000 Series under Equity 3 and in
Equity 3A. Equity 3A contains current Rules 4201, 4420, 4421 and 4450.
The Exchange proposes to relocate the rule text of IM-4120-3, Circuit
Breaker Securities Pilot, to the end of Rule 4120. Also, a reference to
Rule 4751(f) is being updated to Rule 4703(g) within Rule 4756,
Discretionary Orders, to correct the current citation.
Equity 5
    The Exchange proposes to relocate the 7000A Series Rules to Equity
5 as follows:

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  7410A. Definitions.\16\
Section 2................  7420A. Applicability.
Section 3................  7430A. Synchronization of Member Business
                            Clocks.
Section 4................  7440A. Recording of Order Information.\17\
Section 5................  7450A. Order Data Transmission
                            Requirements.\18\
Section 6................  7460A. Violation of Order Audit Trail System
                            Rules.\19\
------------------------------------------------------------------------

    The Exchange proposes to delete Rule 7470A which is currently
reserved.
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    \16\ The Exchange proposes to update a cross reference currently
within Rule 7410A(o) that defines ``Proprietary Trading Firm.''
Within that defined term, there is a reference to Rule 0210(g),
which refers to the term ``customer''. The current reference to Rule
0210(g) is an error and should have referred to Rule 0120(g). The
Exchange previously relocated certain definitions within Rule 0120,
``Definitions'' into General 1 and Equity 1. The term ``customer''
was relocated to BX Equity 1. See supra note 3. That definition of
customer is the same definition as in current Rule 7410A(a) which is
being relocated within this proposal to proposed Equity 5, Section
1(c). The Exchange proposes to utilize the definition of the term
``customer'' within Equity 5, Section 1(c) within proposed new
Equity 5, Section 1(o).
    \17\ The Exchange proposes to update the reference within
current Rule 7440A, Recording of Order Information, to IM-2110-2 to
General 9, Section 1. IM-2110-2 was relocated to General 9, Section
1 in SR-BX-2019-039. See supra note 3.
    \18\ The Exchange proposes to amend the term ``Equity Rule of
the 7400A Series'' within proposed Section 5, Order Data
Transmission Requirements, to instead provide ``Section within
Equity 5.''
    \19\ The Exchange is amending the reference to Rule 2210 to
instead refer to General 9, Section 1. Rule 2210 was relocated to
General 9, Section 1 in SR-BX-2019-039. See supra note 3.
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Equity 6
    The Exchange proposes to title Equity 6, which is currently
reserved, to ``BX Risk Management Service; Other Systems and
Programs,'' and to relocate the following rules into Equity 6:

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  Reserved.
Section 2................  Reserved.
Section 3................  4764. BX Kill Switch.
Section 4................  4765. Exchange Sharing of Participant Risk
                            Settings, excluding Commentary.
Section 5................  Commentary to 4765. Exchange Sharing of
                            Participant Risk Settings (Re-titled as
                            ``Risk Settings'').

Section 6................  Reserved.
------------------------------------------------------------------------

Equity 8
    The Exchange proposes to reserve Equity 8 which is currently titled
``Uniform Practice Code.'' This section does not currently contain any
rules.
Equity 8A
    The Exchange proposes to add an Equity 8A, which will be reserved.
Equity 9
    The Exchange proposes to re-title Equity 9, currently
``Supplementary Conduct Rules,'' to ``Business Conduct.'' This section
does not currently contain any rules. The Exchange proposes to relocate
the following rules into Equity 9:

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  3220. Adjustment of Open Orders.
Section 2................  3230. Clearing Agreements.
Section 3................  3310. Publication of Transactions and
                            Quotations.
Section 4................  IM-3310. Manipulative and Deceptive
                            Quotations.
Section 5................  3320. Offers at Stated Prices.
Section 6................  3340. Prohibition on Transactions,
                            Publication of Quotations, or Publication of
                            Indications of Interest During Trading
                            Halts.
Section 7................  3350. Suspension of Trading.
Section 8................  3351. Trading Practices.
Section 9................  3360. Short-Interest Reporting.
Section 10...............  3370. Prompt Receipt and Delivery of
                            Securities.
Section 11...............  3380. Order Entry and Execution Practices.
Section 12...............  3381. SEC Rule 19c-1--Governing Certain Off-
                            Board Agency Transactions by Members of
                            National Securities Exchanges.
Section 13...............  3385. SEC Rule 19c-3--Governing Off-Board
                            Trading by Members of National Securities
                            Exchanges.
Section 14...............  3390. SEC Rule 604--Display of Customer Limit
                            Orders.
Section 15...............  2844. Suitability.
Section 16...............  2845. Discretionary Accounts.\20\
Section 17...............  2846. Supervision of Accounts.
Section 18...............  2847. Customer Complaints.
Section 19...............  2848. Communications with the Public and
                            Customers Concerning Index Warrants,
                            Currency Index Warrants, and Currency
                            Warrants.
Section 20...............  2849. Maintenance of Records.
------------------------------------------------------------------------

A reference to ``NASD'' is being updated to refer to ``FINRA'' within
proposed Equity 9, Section 1, Adjustment of Open Orders. The Exchange
proposes to update two obsolete cross-references in Equity 9, Section 4
(Manipulative and Deceptive Quotations) that currently point to Rules
2110 and 2120. Rule 2110 (Standards of Commercial Honor and Principles
of Trade) was relocated to General 9, Section 1 of the Rulebook shell
under SR-BX-2019-039.\21\ Rule 2120 (Use of Manipulative, Deceptive or
Other Fraudulent Devices) was likewise relocated to General 9, Section
1 of the Rulebook shell under SR-BX-2019-039. The Exchange proposes to
capitalize the ``The'' before ``Options Clearing Corporation'' within
new Section 13, SEC Rule 19c-3--Governing Off-Board Trading by Members
of National Securities Exchanges. Finally, the Exchange proposes to
reserve Section 21 through Section 23.
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    \20\ The Exchange amended the reference in proposed new Section
16(b) of this rule to ``General 9, Sections 19 and 45.''
    \21\ See supra note 3.
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Equity 10
    The Exchange proposes to re-title Equity 10, which is currently
titled ``BX Venture Listing Rules,'' to ``Other Products and
Securities,'' and to relocate the following rules into Equity 10:

------------------------------------------------------------------------
        Shell rule                          Current rule
------------------------------------------------------------------------
Section 1................  2310A. Direct Participation Programs.
Section 2................  2830. Investment Company Securities.
Section 3................  2840. Trading in Index Warrants, Currency
                            Index Warrants, and Currency Warrants.
                           2841. General.
                           2842. Definitions.
Section 4................  2850. Position Limits.
Section 5................  2851. Exercise Limits.
Section 6................  2852. Reporting Requirements.
Section 7................  2853. Liquidation of Index Warrant Positions.
Section 8................  4630. Trading in Commodity-Related
                            Securities.
------------------------------------------------------------------------

Equity 11
    The Exchange proposes to add new Equity 11, titled ``Uniform
Practice Code,'' and relocate the current Rule 11000 Series into new
Equity 11 without renumbering the rules.
    The Exchange proposes to correct a spelling error in the title of
IM-11110 to provide ``Refusal to Abide by Rulings of

the Exchange's Regulation Department Staff''. The spelling of the word
``Staff'' is being amended.
    The Exchange proposes to correct the spelling of the word
``certificate'' and remove the apostrophe within IM-11710. Uniform
Reclamation Form.
    The Exchange also proposes to update an obsolete cross-reference in
IM-11720 (Obligations of Members Who Discover Securities in Their
Possession to Which They Are Not Entitled) that currently points to
Rule 2110. Rule 2110 (Standards of Commercial Honor and Principles of
Trade) was relocated to General 9, Section 1 of the Rulebook shell
under SR-BX-2019-039.\22\
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    \22\ See supra note 3.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\23\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\24\ in particular, in that it is designed to
promote just and equitable principles of trade and to protect investors
and the public interest by bringing greater transparency to its rules
by relocating the equity and general rules into the new Rulebook shell
together with other rules which have already been relocated.\25\ The
Exchange's proposal is consistent with the Act and will protect
investors and the public interest by harmonizing its rules, where
applicable, across Nasdaq affiliated markets so that members can
readily locate rules which cover similar topics. The relocation and
harmonization of the BX Rules is part of the Exchange's continued
effort to promote efficiency and conformity of its rules to the extent
applicable with those of its affiliated exchanges. The Exchange
believes that the placement of the BX equity and general rules into
their new location in the shell will facilitate the use of the Rulebook
by members. Specifically, the Exchange believes that market
participants that are members of more than one Nasdaq affiliated market
will benefit from the ability to compare Rulebooks.
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    \23\ 15 U.S.C. 78f(b).
    \24\ 15 U.S.C. 78f(b)(5).
    \25\ See supra note 3.
---------------------------------------------------------------------------

    The Exchange is not substantively amending rule text. The
renumbering, re-lettering, deleting reserved and already deleted rules,
amending cross-references and other minor technical changes will bring
greater transparency to BX's Rules. The Exchange's affiliates have
already filed similar rule changes to relocate their respective equity
and general rules into the same location in each Rulebook for ease of
reference.\26\ The Exchange believes its proposal will benefit
investors and the general public by increasing the transparency of its
Rulebook and promoting easy comparisons among the various Nasdaq
affiliated exchanges' Rulebooks.
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    \26\ The Nasdaq Stock Market LLC previously filed to relocate
its equity and general rules. See Securities Exchange Act Release
No. 90577 (December 7, 2020), 85 FR 80202 (December 11, 2020) (SR-
NASDAQ-2020-079). See also Securities Exchange Act Release No. 91058
(February 4, 2021), 86 FR 8966 (February 10, 2021) (SR-Phlx-2021-
04).
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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. The Exchange believes that the
proposed amendments do not impose an undue burden on competition
because the amendments to relocate the equity and general rules are
non-substantive. This rule change is intended to bring greater clarity
to the Exchange's Rules and to promote easy comparisons among the
various Nasdaq affiliated exchanges' Rulebooks. Renumbering, re-
lettering, deleting reserved rules and already deleted rules, and
amending cross-references will bring greater transparency to BX's
Rules.

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) of the Act \27\ and Rule 19b-
4(f)(6) thereunder.\28\
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    \27\ 15 U.S.C. 78s(b)(3)(A).
    \28\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of 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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    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \29\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \30\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay.\31\
Waiver of the operative delay would allow the Exchange to immediately
relocate its rules and continue to file other rules that are affected
by this relocation in a timely manner. The Commission believes that
waiver of the 30-day operative delay is consistent with the protection
of investors and the public interest. Accordingly, the Commission
waives the operative delay and designates the proposed rule change
operative upon filing.\32\
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    \29\ 17 CFR 240.19b-4(f)(6).
    \30\ 17 CFR 240.19b-4(f)(6)(iii).
    \31\ The current proposed rule change amends or relocates
certain rules that were amended within SR-BX-2021-006, and those
amendments within SR-BX-2021-006 are effective but not yet
operative. See Securities Exchange Act Release No. 91370 (March 19,
2021), 86 FR 15996 (March 25, 2021) (SR-BX-2021-006). The current
proposed rule change does not affect the operative date of those
amendments within SR-BX-2021-006.
    \32\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 change 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<EMAIL_ADDRESS>Please include
File Number SR-BX-2021-012 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-BX-2021-012. 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-BX-2021-012 and should be submitted on
or before June 4, 2021.
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    \33\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\33\
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-10176 Filed 5-13-21; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 34 (Thursday, February 20, 2014)]
[Notices]
[Pages 9733-9734]
[FR Doc No: 2014-03649]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 2310-198]

Pacific Gas and Electric Company; Notice of Application Accepted
for Filing, Soliciting Comments, Motions To Intervene, and Protests

    Take notice that the following hydroelectric application has been
filed with the Commission and is available for public inspection:
    a. Type of Application: Application for Temporary Variance of
License Requirement.
    b. Project No.: 2310-198.
    c. Date Filed: February 7, 2014.
    d. Applicants: Pacific Gas and Electric Company (licensee).
    e. Name of Project: Drum-Spaulding Project.
    f. Location: South Yuba River and Bear River in Placer and Nevada
Counties, California.
    g. Filed Pursuant to: Federal Power Act, 16 U.S.C. 791a-825r.
    h. Applicant Contact: Mr. Ezra Becker, License Coordinator, Pacific
Gas and Electric Company, Mail Code: N11E, P.O. Box 770000, San
Francisco, CA 94177. Phone<PHONE_NUMBER>.
    i. FERC Contact: Mr. John Aedo,<PHONE_NUMBER>, or
<EMAIL_ADDRESS>    j. Deadline for filing comments, motions to intervene, protests,
and recommendations is 15 days from the issuance date of this notice by
the Commission (February 27, 2014). The Commission strongly encourages
electronic filing. Please file motions to intervene, protests,
comments, or recommendations using the Commission's eFiling system at
http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit
brief comments up to 6,000 characters, without prior registration,
using the eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You must include your name and contact information at the
end of your comments. For assistance, please contact FERC Online
Support at<EMAIL_ADDRESS>(866) 208-3676 (toll free), or
(202) 502-8659 (TTY). In lieu of electronic filing, please send a paper
copy to: Secretary, Federal Energy Regulatory Commission, 888 First
Street NE., Washington, DC 20426. Please include the project number (P-
2310-198) on any comments, motions to intervene, protests, or
recommendations filed.
    k. Description of Request: The licensee requests a temporary
modification of the criteria for determining compliance with the
minimum flow requirements of articles 39 and 63 of the project license.
Specifically, the licensee requests that minimum flow compliance be
based on 24-hour average flows, instead of instantaneous minimum flow
at: The South Yuba River at Langs Crossing (gage YB-29); the Bear River
below Drum Afterbay (gage YB-44); the Bear River at Highway 20 (gage
YB-198); and at Mormon Ravine above Newcastle Powerhouse (gage YB-292).
The licensee states that the temporary variance will conserve water
during exceptionally dry conditions, by eliminating the need to release
additional buffer flows of 2 to 3 cubic feet per second to ensure
minimum flow compliance. The licensee requests the temporary variance
until no longer operationally necessary.
    l. Locations of the Application: A copy of the application is
available for inspection and reproduction at the Commission's Public
Reference Room, located at 888 First Street NE., Room 2A, Washington,
DC 20426, or by calling<PHONE_NUMBER>. This filing may also be viewed
on the Commission's Web site at http://www.ferc.gov/docs-filing/elibrary.asp. Enter the docket number excluding the last three digits
in the docket number field to access the document. You may also
register online at http://www.ferc.gov/docs-filing/esubscription.asp to
be notified via email of new filings and issuances related to this or
other pending projects. For assistance, call 1-866-208- 3676 or email
<EMAIL_ADDRESS>for TTY, call<PHONE_NUMBER>. A copy is
also available for inspection and reproduction at the address in item
(h) above.
    m. Individuals desiring to be included on the Commission's mailing
list should so indicate by writing to the Secretary of the Commission.
    n. Comments, Protests, or Motions to Intervene: Anyone may submit
comments, a protest, or a motion to intervene in accordance with the
requirements of Rules of Practice and Procedure, 18 CFR 385.210, .211,
.214. In determining the appropriate action to take, the Commission
will consider all protests or other comments filed, but only those who
file a motion to intervene in accordance with the Commission's Rules
may become a party to the proceeding. Any comments, protests, or
motions to intervene must

be received on or before the specified comment date for the particular
application.
    o. Filing and Service of Responsive Documents: Any filing must (1)
bear in all capital letters the title ``COMMENTS'', ``PROTEST'', or
``MOTION TO INTERVENE'' as applicable; (2) set forth in the heading the
name of the applicant and the project number of the application to
which the filing responds; (3) furnish the name, address, and telephone
number of the person protesting or intervening; and (4) otherwise
comply with the requirements of 18 CFR 385.2001 through 385.2005. All
comments, motions to intervene, or protests must set forth their
evidentiary basis and otherwise comply with the requirements of 18 CFR
4.34(b). All comments, motions to intervene, or protests should relate
to project works which are the subject of the license surrender.
Agencies may obtain copies of the application directly from the
applicant. A copy of any protest or motion to intervene must be served
upon each representative of the applicant specified in the particular
application. If an intervener files comments or documents with the
Commission relating to the merits of an issue that may affect the
responsibilities of a particular resource agency, they must also serve
a copy of the document on that resource agency. A copy of all other
filings in reference to this application must be accompanied by proof
of service on all persons listed in the service list prepared by the
Commission in this proceeding, in accordance with 18 CFR 4.34(b) and
385.2010.

    Dated: February 12, 2014.
Kimberly D. Bose,
Secretary.
[FR Doc. 2014-03649 Filed 2-19-14; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 54 (Tuesday, March 20, 2012)]
[Notices]
[Page 16219]
[FR Doc No: 2012-6630]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 14328-000]

Cortez Pumped Storage Project; Notice of Preliminary Permit
Application Accepted for Filing and Soliciting Comments, Motions To
Intervene, and Competing Applications

    On November 30, 2011, INCA Engineers, Inc., Washington, filed an
application for a preliminary permit, pursuant to section 4(f) of the
Federal Power Act (FPA), proposing to study the feasibility of the
Cortez Pumped Storage Project to be located on Plateau Creek, near the
town of Dolores, Montezuma County, Colorado. The project affects
federal lands administered by the Forest Service (San Juan National
Forest). The sole purpose of a preliminary permit, if issued, is to
grant the permit holder priority to file a license application during
the permit term. A preliminary permit does not authorize the permit
holder to perform any land-disturbing activities or otherwise enter
upon lands or waters owned by others without the owners' express
permission.
    The proposed project would consist of the following new facilities:
(1) An upper reservoir, formed by a 130-foot-high by 6,500-foot-long,
roller-compacted concrete (RCC) dam, with a total storage capacity of
8,000 acre-feet and a water surface area of 275 acres at full pool
elevation; (2) a lower reservoir, formed by a 270-foot-high by 800-
foot-long dam, having a total storage capacity of 9,500 acre-feet and a
water surface area of 200 acres at full pool elevation; (3) two 15-
foot-diameter steel consisting of a surface penstock, a vertical shaft
and an inclined tunnel; (4) two 27-foot-diameter tailrace tunnels that
would be 850-feet-long; (5) an underground powerhouse containing two
reversible pump-turbines totaling 500 megawatts (MW) (2 units x 250 MW
units) of generating capacity; and (6) a 7-mile-long, 230 kilovolt (kV)
transmission line that would connect from the switchyard with an
existing 230 kV interconnection east of the project area. The project's
annual energy output would vary between 600 and 1,500 gigawatthours.
    Applicant Contact: Mr. Donald Thompson, INCA Engineers, Inc., 400
112th Ave. NE., Suite 400 Bellevue, WA 98004; phone<PHONE_NUMBER>.
    FERC Contact: Brian Csernak; phone:<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Competing applications and notices of intent must meet the requirements
of 18 CFR 4.36. Comments, motions to intervene, notices of intent, and
competing applications may be filed electronically via the Internet.
See 18 CFR 385.2001(a)(1)(iii) and the instructions on the Commission's
Web site http://www.ferc.gov/docs-filing/efiling.asp. Commenters can
submit brief comments up to 6,000 characters, without prior
registration, using the eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You must include your name and contact information
at the end of your comments. For assistance, please contact FERC Online
Support at<EMAIL_ADDRESS>or toll free at 1-866-208-3676,
or for TTY,<PHONE_NUMBER>. Although the Commission strongly encourages
electronic filing, documents may also be paper-filed. To paper-file,
mail an original and seven copies to: Kimberly D. Bose, Secretary,
Federal Energy Regulatory Commission, 888 First Street NE., Washington,
DC 20426.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's Web site at  http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-14328-000) in the docket number field to
access the document. For assistance, contact FERC Online Support.

    Dated: March 14, 2012.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2012-6630 Filed 3-19-12; 8:45 am]
BILLING CODE 6717-01-P