90 FR 32 pgs. 9939-9940 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Pricing in Options 7, Section 3 Regarding Fees and Rebates in SPY and Option 7, Section 4 Regarding Multiply Listed Options Fees
Type: NOTICEVolume: 90Number: 32Pages: 9939 - 9940
Pages: 9939, 9940Docket number: [Release No. 34-102405; File No. SR-Phlx-2025-09]
FR document: [FR Doc. 2025-02751 Filed 2-18-25; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-102405; File No. SR-Phlx-2025-09]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Pricing in Options 7, Section 3 Regarding Fees and Rebates in SPY and Option 7, Section 4 Regarding Multiply Listed Options Fees
February 12, 2025.
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 February 10, 2025, Nasdaq PHLX LLC ("Phlx" or "Exchange") filed with the Securities and Exchange Commission ("Commission") the proposed rule change as described in Item I below, which Item has been substantially prepared by the Exchange. Phlx has designated this proposal for immediate effectiveness pursuant to Section 19(b)(3)(A) of the Act? 3 and Rule 19b-4(f) thereunder. 4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
Footnotes:
1 ?15 U.S.C. 78s(b)(1).
2 ?17 CFR 240.19b-4.
3 ?15 U.S.C. 78s(b)(3)(A).
4 ?17 CFR 240.19b-4(f). 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 will institute proceedings to determine whether the proposed rule change should be approved or disapproved.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to amend Phlx's Pricing Schedule at Options 7, Section 3, Rebates and Fees for Adding and Removing Liquidity in SPY, to pay a rebate to Customers and assess a fee to Non-Customers for executions against an order for which the Exchange broadcasts an order exposure alert in SPY. The Exchange also proposes to assess a stock handling fee for the stock leg of stock-option orders executed against other stock-option orders in the Complex Order Book in SPY. The Exchange proposes to amend Options 7, Section 4, Multiply Listed Options Fees (Includes options overlying equities, ETFs, ETNs and indexes which are Multiply Listed) (Excludes SPY and broad-based index options symbols listed within Options 7, Section 5.A), to assess a stock handling fee for the stock leg of stock-option orders executed against other stock-option orders in the Complex Order Book in multiply-listed options. The Exchange also proposes to increase a surcharge assessed to electronic Complex Orders that remove liquidity from the Complex Order Book and auctions, excluding PIXL, in Penny Symbols (excluding SPY). 5
Footnotes:
5 ?On January 31, 2025 the Exchange filed SR-Phlx-2025-07. On February 10, 2025 the Exchange withdrew SR-Phlx-2025-07 and replaced it with this rule change.
The proposed rule change, including the Exchange's statement of the purpose of, and statutory basis for, the proposed rule change, is available on the Exchange's website at https://listingcenter.nasdaq.com/rulebook/phlx/rulefilings and on the Commission's website at https://www.sec.gov/rules-regulations/self-regulatory-organization-rulemaking/national-securities-exchanges?file_number=SR-Phlx-2025-09.
II. Solicitation of Comments
[top] Interested persons are invited to submit written data, views and
Footnotes:
6 ?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 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.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 7
Footnotes:
7 ?17 CFR 200.30-3(a)(12).
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2025-02751 Filed 2-18-25; 8:45 am]
BILLING CODE 8011-01-P