82 FR 14547 - Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Rename the Exchange

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 53 (March 21, 2017)

Page Range		14547-14548
FR Document		2017-05498
Federal Register, Volume 82 Issue 53 (Tuesday, March 21, 2017)
[Federal Register Volume 82, Number 53 (Tuesday, March 21, 2017)]
[Notices]
[Pages 14547-14548]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05498]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80248; File No. SR-ISEGemini-2017-13]


Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change to Rename the 
Exchange

March 15, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on March 7, 2017, ISE Gemini, LLC (``ISE Gemini'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``SEC'' or 
``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 amend its Constitution, Second Amended and 
Restated LLC Agreement, Rule Book, and Fee Schedule to rename itself 
Nasdaq GEMX, LLC.
    The text of the proposed rule change is available on the Exchange's 
Web site at www.ise.com, 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 the proposed rule change is to rename the Exchange 
to reflect its new placement within the Nasdaq, Inc. corporate 
structure in connection with the March 9, 2016 acquisition by Nasdaq of 
the capital stock of U.S. Exchange Holdings, and the thereby indirectly 
acquiring all of the interests of the International Securities 
Exchange, LLC, ISE Gemini, LLC and ISE Mercury, LLC.\3\
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    \3\ See Securities Exchange Act Release No. 78119 (June 27, 
2016), 81 FR 41611 (SR-ISE-2016-11; SR-ISE Gemini-2016-05; SR-ISE 
Mercury-2016-10) (Order Granting Accelerated Approval of Proposed 
Rule Changes, Each as Modified by Amendment No. 1 Thereto, Relating 
to a Corporate Transaction in Which Nasdaq, Inc. Will Become the 
Indirect Parent of ISE, ISE Gemini, and ISE Mercury).
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    Specifically, all references in the Constitution, Second Amended 
and Restated LLC Agreement, Rule Book and Fee Schedule to ``ISE Gemini, 
LLC'' shall be amended to ``Nasdaq GEMX, LLC.''
    The Exchange proposes to amend its name on April 3, 2017.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\4\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\5\ in particular, in that it is designed to promote 
just and equitable principles of trade, to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and, in general to protect investors and the public interest by 
renaming the Exchange to reflect its current ownership.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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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 does not believe 
that the proposed rule change will impact the intense competition that 
exists in the options market. The name change will reflect the current 
ownership structure and unify the options markets operated by Nasdaq, 
Inc.

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 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 \6\ and Rule 19b-4(f)(6) thereunder.\7\
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the 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.
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    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the 
Act \8\ normally does not become operative for 30 days after the date 
of its filing. However, Rule 19b-4(f)(6)(iii) \9\ 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 so that 
the Exchange may amend its name as of April 3, 2017, to coincide with 
the full symbol migration to INET, a Nasdaq, Inc. supported 
architecture.\10\ The Exchange stated that it began a six week symbol 
rollout to INET on February 27, 2017, and that all symbols will have 
migrated on April 3, 2017. The Commission believes the waiver of the 
operative delay is consistent with the protection of investors and the 
public interest. Accordingly, the Commission hereby waives the 
operative delay and

[[Page 14548]]

designates the proposed rule change operative upon filing.\11\
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    \8\ 17 CFR 240.19b-4(f)(6).
    \9\ 17 CFR 240.19b-4(f)(6)(iii).
    \10\ See Securities Exchange Act Release No. 80011 (February 10, 
2017), 82 FR 10927 (February 16, 2017) (order approving SR-
ISEGemini-2016-17). The Commission notes that the Exchange was 
previously approved to become a subsidiary of Nasdaq, Inc. See 
Securities Exchange Act Release No. 78119 (June 21, 2016), 81 FR 
41611 (June 27, 2016) (SR-ISE-2016-11; SR-ISE Gemini-2016-05; SR-ISE 
Mercury-2016-10) (Order Granting Accelerated Approval of Proposed 
Rule Changes, Each as Modified by Amendment No. 1 Thereto, Relating 
to a Corporate Transaction in Which Nasdaq, Inc. Will Become the 
Indirect Parent of ISE, ISE Gemini, and ISE Mercury).
    \11\ 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 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 protected]. Please include 
File Number SR-ISEGemini-2017-13 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-ISEGemini-2017-13. 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/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 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. Copies of such filing also will be available 
for inspection and copying at the principal office of the Exchange. 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 available publicly. All 
submissions should refer to File Number SR-ISEGemini-2017-13, and 
should be submitted on or before April 11, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
Eduardo A. Aleman,
Assistant Secretary.
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    \12\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2017-05498 Filed 3-20-17; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices 14547

For the Commission, by the Division of A. Self-Regulatory Organization’s C. Self-Regulatory Organization’s
Trading and Markets, pursuant to delegated Statement of the Purpose of, and Statement on Comments on the
authority.207 Statutory Basis for, the Proposed Rule Proposed Rule Change Received From
Eduardo A. Aleman, Change Members, Participants, or Others
Assistant Secretary.
[FR Doc. 2017–05505 Filed 3–20–17; 8:45 am] 1. Purpose No written comments were either
BILLING CODE 8011–01–P
solicited or received.
The purpose of the proposed rule
change is to rename the Exchange to III. Date of Effectiveness of the
reflect its new placement within the Proposed Rule Change and Timing for
SECURITIES AND EXCHANGE Commission Action
COMMISSION Nasdaq, Inc. corporate structure in
connection with the March 9, 2016
[Release No. 34–80248; File No. SR– Because the proposed rule change
acquisition by Nasdaq of the capital
ISEGemini–2017–13] does not (i) significantly affect the
stock of U.S. Exchange Holdings, and protection of investors or the public
Self-Regulatory Organizations; ISE the thereby indirectly acquiring all of interest; (ii) impose any significant
Gemini, LLC; Notice of Filing and the interests of the International burden on competition; and (iii) become
Immediate Effectiveness of Proposed Securities Exchange, LLC, ISE Gemini, operative for 30 days from the date on
Rule Change to Rename the Exchange LLC and ISE Mercury, LLC.3 which it was filed, or such shorter time
Specifically, all references in the as the Commission may designate, it has
March 15, 2017.
Constitution, Second Amended and become effective pursuant to Section
Pursuant to Section 19(b)(1) of the 19(b)(3)(A) of the Act 6 and Rule 19b–
Restated LLC Agreement, Rule Book and
Securities Exchange Act of 1934 (the 4(f)(6) thereunder.7
Fee Schedule to ‘‘ISE Gemini, LLC’’
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 7, shall be amended to ‘‘Nasdaq GEMX, A proposed rule change filed
2017, ISE Gemini, LLC (‘‘ISE Gemini’’ or LLC.’’ pursuant to Rule 19b–4(f)(6) under the
‘‘Exchange’’) filed with the Securities The Exchange proposes to amend its Act 8 normally does not become
and Exchange Commission (‘‘SEC’’ or name on April 3, 2017. operative for 30 days after the date of its
‘‘Commission’’) the proposed rule filing. However, Rule 19b–4(f)(6)(iii) 9
2. Statutory Basis permits the Commission to designate a
change as described in Items I and II
below, which Items have been prepared shorter time if such action is consistent
The Exchange believes that its
by the Exchange. The Commission is with the protection of investors and the
proposal is consistent with Section 6(b)
publishing this notice to solicit public interest. The Exchange has asked
of the Act,4 in general, and furthers the the Commission to waive the 30-day
comments on the proposed rule change objectives of Section 6(b)(5) of the Act,5
from interested persons. operative delay so that the Exchange
in particular, in that it is designed to may amend its name as of April 3, 2017,
I. Self-Regulatory Organization’s promote just and equitable principles of to coincide with the full symbol
Statement of the Terms of Substance of trade, to remove impediments to and migration to INET, a Nasdaq, Inc.
the Proposed Rule Change perfect the mechanism of a free and supported architecture.10 The Exchange
The Exchange proposes to amend its open market and a national market stated that it began a six week symbol
Constitution, Second Amended and system, and, in general to protect rollout to INET on February 27, 2017,
Restated LLC Agreement, Rule Book, investors and the public interest by and that all symbols will have migrated
and Fee Schedule to rename itself renaming the Exchange to reflect its on April 3, 2017. The Commission
Nasdaq GEMX, LLC. current ownership. believes the waiver of the operative
The text of the proposed rule change delay is consistent with the protection
B. Self-Regulatory Organization’s of investors and the public interest.
is available on the Exchange’s Web site
Statement on Burden on Competition Accordingly, the Commission hereby
at www.ise.com, at the principal office
of the Exchange, and at the The Exchange does not believe that waives the operative delay and
Commission’s Public Reference Room. the proposed rule change will impose
6 15 U.S.C. 78s(b)(3)(A).
II. Self-Regulatory Organization’s any burden on competition not 7 17 CFR 240.19b–4(f)(6). As required under Rule
Statement of the Purpose of, and necessary or appropriate in furtherance 19b–4(f)(6)(iii), the Exchange provided the
Statutory Basis for, the Proposed Rule of the purposes of the Act. The Commission with written notice of its intent to file
Change Exchange does not believe that the the proposed rule change, along with a brief
description and the text of the proposed rule
In its filing with the Commission, the proposed rule change will impact the change, at least five business days prior to the date
Exchange included statements intense competition that exists in the of filing of the proposed rule change, or such
concerning the purpose of and basis for options market. The name change will shorter time as designated by the Commission.
8 17 CFR 240.19b–4(f)(6).
the proposed rule change and discussed reflect the current ownership structure
9 17 CFR 240.19b–4(f)(6)(iii).
any comments it received on the and unify the options markets operated 10 See Securities Exchange Act Release No. 80011
proposed rule change. The text of these by Nasdaq, Inc. (February 10, 2017), 82 FR 10927 (February 16,
statements may be examined at the 2017) (order approving SR–ISEGemini–2016–17).
places specified in Item IV below. The 3 See Securities Exchange Act Release No. 78119 The Commission notes that the Exchange was
previously approved to become a subsidiary of
mstockstill on DSK3G9T082PROD with NOTICES

Exchange has prepared summaries, set (June 27, 2016), 81 FR 41611 (SR–ISE–2016–11; SR–
ISE Gemini-2016–05; SR–ISE Mercury–2016–10) Nasdaq, Inc. See Securities Exchange Act Release
forth in sections A, B, and C below, of No. 78119 (June 21, 2016), 81 FR 41611 (June 27,
(Order Granting Accelerated Approval of Proposed
the most significant aspects of such Rule Changes, Each as Modified by Amendment No.
2016) (SR–ISE–2016–11; SR–ISE Gemini–2016–05;
statements. SR–ISE Mercury–2016–10) (Order Granting
1 Thereto, Relating to a Corporate Transaction in
Accelerated Approval of Proposed Rule Changes,
Which Nasdaq, Inc. Will Become the Indirect Parent Each as Modified by Amendment No. 1 Thereto,
207 17CFR 200.30–3(a)(12). of ISE, ISE Gemini, and ISE Mercury). Relating to a Corporate Transaction in Which
1 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78f(b).
Nasdaq, Inc. Will Become the Indirect Parent of ISE,
2 17 CFR 240.19b–4. 5 15 U.S.C. 78f(b)(5). ISE Gemini, and ISE Mercury).

VerDate Sep<11>2014 16:47 Mar 20, 2017 Jkt 241001 PO 00000 Frm 00047 Fmt 4703 Sfmt 4703 E:\FR\FM\21MRN1.SGM 21MRN1
Document Created: 2017-03-21 01:09:34
Document Modified: 2017-03-21 01:09:34
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		82 FR 14547