20548 Federal Register / Vol. 85, No. 71 / Monday, April 13, 2020 / Notices

participants can readily favor one of the Commission takes such action, the submissions should refer to File 16 competing exchanges if they Commission shall institute proceedings Number SR–NYSEAMER–2020–24 and deem fee levels at a particular venue to under Section 19(b)(2)(B) 19 of the Act to should be submitted on or before May be excessive. In such an environment, determine whether the proposed rule 4, 2020. the Exchange must continually adjust its change should be approved or For the Commission, by the Division of fees to remain competitive with other disapproved. Trading and Markets, pursuant to delegated exchanges and to attract order flow to 20 IV. Solicitation of Comments authority. the Exchange. Based on publicly- J. Matthew DeLesDernier, Interested persons are invited to available information, and excluding Assistant Secretary. submit written data, views, and index-based options, no single exchange [FR Doc. 2020–07654 Filed 4–10–20; 8:45 am] currently has more than 16% of the arguments concerning the foregoing, BILLING CODE 8011–01–P market share of executed volume of including whether the proposed rule multiply-listed equity and ETF options change is consistent with the Act. trades.15 Therefore, no exchange Comments may be submitted by any of SECURITIES AND EXCHANGE the following methods: possesses significant pricing power in COMMISSION the execution of multiply-listed equity & Electronic Comments [Release No. 34–88581; File No. SR–Phlx– ETF options order flow. More • specifically, in January 2020, the Use the Commission’s internet 2020–17] Exchange had less than 10% market comment form (http://www.sec.gov/ rules/sro.shtml); or Self-Regulatory Organizations; Nasdaq share of executed volume of multiply- • PHLX LLC; Notice of Filing and listed equity & ETF options trades.16 Send an email to rule-comments@ Immediate Effectiveness of a Proposed The Exchange believes that the sec.gov. Please include File Number SR– Rule Change To Amend Phlx’s Pricing proposed rule change reflects this NYSEAMER–2020–24 on the subject competitive environment because it line. Schedule at Options 7, Section 4 modifies the Exchange’s fees in a Paper Comments April 7, 2020. manner designed to continue to • Send paper comments in triplicate Pursuant to Section 19(b)(1) of the encourage Floor Brokers to direct (open to Secretary, Securities and Exchange Securities Exchange Act of 1934 outcry) trading interest to the Exchange, 1 2 Commission, 100 F Street NE, (‘‘Act’’), and Rule 19b–4 thereunder, to provide liquidity and to attract order Washington, DC 20549–1090. notice is hereby given that on March 30, flow. To the extent that this purpose is All submissions should refer to File 2020, Nasdaq PHLX LLC (‘‘Phlx’’ or achieved, all the Exchange’s market ‘‘Exchange’’) filed with the Securities participants should benefit from the Number SR–NYSEAMER–2020–24. This file number should be included on the and Exchange Commission (‘‘SEC’’ or improved market quality and increased ‘‘Commission’’) the proposed rule opportunities for price improvement. subject line if email is used. To help the Commission process and review your change as described in Items I, II, and C. Self-Regulatory Organization’s comments more efficiently, please use III, below, which Items have been Statement on Comments on the only one method. The Commission will prepared by the Exchange. The Proposed Rule Change Received From post all comments on the Commission’s Commission is publishing this notice to Members, Participants, or Others internet website (http://www.sec.gov/ solicit comments on the proposed rule change from interested persons. No written comments were solicited rules/sro.shtml). Copies of the or received with respect to the proposed submission, all subsequent I. Self-Regulatory Organization’s rule change. amendments, all written