Federal Register 30-Day Notice

Federal Register / Vol. 90, No. 184 / Thursday, September 25, 2025 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–18552 Filed 9–24–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[OMB Control No. 3235–0700]

lotter on DSK11XQN23PROD with NOTICES1

Agency Information Collection
Activities; Submission for OMB
Review; Comment Request; Extension:
Rule 18a–4
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 et seq.), the Securities
and Exchange Commission (SEC or
‘‘Commission’’) is submitting to the
Office of Management and Budget
(‘‘OMB’’) this request for an extension of
the proposed collection of information
in Rule 18a–4.
Rule 18a–4, 17 CFR 240.18a–4,
establishes segregation requirements for
cleared and non-cleared security-based
swap transactions, which applies to
non-broker-dealer security-based swap
dealers (‘‘SBSDs’’) (i.e., bank SBSDs and
nonbank stand-alone SBSDs), as well as
notification requirements for nonbroker-dealer SBSDs and major securitybased swap participants. The collection
of information requirements in the rule
facilitates the process by which the
Commission and its staff monitor how
SBSDs are fulfilling their custodial
responsibilities to security-based swap
customers. They also alert
counterparties to the alternatives
available to them with respect to
segregation of non-cleared securitybased swaps. The aggregate annual
burden for all respondents is estimated
to be 8,497 hours.
The collections of information in the
rule are mandatory. The information is
kept confidential to the extent permitted
by the Freedom of Information Act (5
U.S.C. 552 et seq.).
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 this proposed collection of
information is necessary for the proper

performance of the functions of the SEC,
including whether the information will
have practical utility; (b) the accuracy of
the SEC’s estimate of the burden
imposed by the proposed collection of
information, including the validity of
the methodology and the assumptions
used; (c) ways to enhance the quality,
utility, and clarity of the information to
be collected; and (d) ways to minimize
the burden of the collection of
information on respondents, including
through the use of automated, electronic
collection techniques or other forms of
information technology.
The public may view and comment
on this information collection request
at: https://www.reginfo.gov/public/do/
PRAViewICR?ref_nbr=202507-3235-013
or email comment to
MBX.OMB.OIRA.SEC_desk_officer@
omb.eop.gov within 30 days of the day
after publication of this notice, by
October 27, 2025.
Dated: September 23, 2025.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025–18647 Filed 9–24–25; 8:45 am]
BILLING CODE 8011–01–P

SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–104014; File No. SR–
PEARL–2025–42]

Self-Regulatory Organizations; MIAX
PEARL, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Exchange
Rule 402 To Permit the Listing of
Options on an Exchange Traded Fund
as Defined in Rule 6c–11 Under the
Investment Company Act of 1940
September 22, 2025.

Pursuant to the provisions of 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 September 9, 2025, MIAX PEARL,
LLC (‘‘MIAX PEARL’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) a
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Exchange Rule 402, Criteria for
1 15

20 17

CFR 200.30–3(a)(12), (59).

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Underlying Securities, to permit the
listing of options on an exchange traded
fund as defined in Rule 6c–11 under the
Investment Company Act of 1940 (‘‘Rule
6c–11’’).
The text of the proposed rule change
is available on the Exchange’s website at
https://www.miaxglobal.com/markets/
us-options/all-options-exchanges/rulefilings, and at the Exchange’s principal
office.
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 Exchange proposes to amend
Exchange Rule 402, Criteria for
Underlying Securities,3 to amend: (1)
subsection (i)(1) to provide that
securities deemed appropriate for
options trading include shares or other
securities (‘‘Exchange-Traded Funds’’ or
‘‘ETFs’’), that are listed pursuant to
generic listing standards for an
exchange-traded fund as defined in Rule
6c–11 under the Investment Company
Act of 1940 (‘‘ETF Shares’’), portfolio
depositary receipts, or index fund
shares; and (2) subsection (i)(5)(ii)(A) to
provide that the ETFs must be listed
pursuant to generic listing standards for
ETF Shares. This is a competitive filing
based on a similar proposal submitted
by Cboe Exchange, Inc. (‘‘Cboe’’).4
3 The Exchange notes that its affiliate options
exchanges, Miami International Securities
Exchange, LLC (‘‘MIAX’’) and MIAX Sapphire, LLC
(‘‘MIAX Sapphire’’), submitted substantively
similar proposals. The Exchange notes that all the
rules of Chapter IV of MIAX Rulebook, including
Exchange Rule 402, are incorporated by reference
into the MIAX Emerald, LLC (‘‘MIAX Emerald’’)
rulebook.
4 See Securities Exchange Act Release No. 103686
(August 5, 2025) 90 FR 39435 (August 15, 2025)
(SR–CBOE–2025–053) (Self-Regulatory
Organizations; Cboe Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a Proposed Rule
Change To Amend Interpretation and Policy .06 of
Rule 4.3 To Permit the Listing of Options on an

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