82_FR_16145 82 FR 16084 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay the Implementation of Functionality Associated With Stock-Option Orders

82 FR 16084 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay the Implementation of Functionality Associated With Stock-Option Orders

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 61 (March 31, 2017)

Page Range16084-16086
FR Document2017-06334

Federal Register, Volume 82 Issue 61 (Friday, March 31, 2017)
[Federal Register Volume 82, Number 61 (Friday, March 31, 2017)]
[Notices]
[Pages 16084-16086]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-06334]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80316; File No. SR-ISE-2017-28]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change To Delay the Implementation of Functionality Associated With 
Stock-Option Orders

March 27, 2017.
    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 March 21, 2017, the International Securities Exchange, LLC (``ISE'' 
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. 
ISE filed the proposal pursuant to Section 19(b)(3)(A)(iii) of the Act 
\3\ and Rule 19b-4(f)(6) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to delay the implementation of functionality 
associated with Stock-Option Orders \5\ in connection with a system 
migration to Nasdaq INET technology.
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    \5\ A stock-option order is an order to buy or sell a stated 
number of units of an underlying stock or a security convertible 
into the underlying stock (``convertible security'') coupled with 
the purchase or sale of options contract(s) on the opposite side of 
the market representing either (A) the same number of units of the 
underlying stock or convertible security, or (B) the number of units 
of the underlying stock necessary to create a delta neutral 
position, but in no case in a ratio greater than eight-to-one 
(8.00), where the ratio represents the total number of units of the 
underlying stock or convertible security in the option leg to the 
total number of units of the underlying stock or convertible 
security in the stock leg. See ISE Rule 722(a)(2).
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    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
    Today, ISE accepts complex orders, including Stock-Option Orders 
that contain a stock component. Today, complex orders, including Stock-
Option Orders, are permitted to: (1) Leg into the regular market where 
they may trade against bids and offers for the individual legs pursuant 
to Rule 722(b)(3)(ii) and (iii) (``legging''); \6\ or (2) execute 
against another order within the complex order book.
---------------------------------------------------------------------------

    \6\ Supplementary Material .02 to Rule 722 also contains 
provisions relevant to the legging of Stock-Option Orders 
specifically.
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    The Exchange proposes to delay the implementation of legging 
functionality for Stock-Option Orders in connection with a migration to 
the INET platform. INET is the proprietary core technology utilized 
across Nasdaq's global markets and utilized on The NASDAQ Options 
Market LLC (``NOM''), NASDAQ PHLX LLC (``Phlx'') and NASDAQ BX, Inc. 
(``BX'') (collectively, ``Nasdaq Exchanges''). The migration of ISE to 
the Nasdaq INET architecture would result in higher performance, 
scalability, and more robust architecture. With this system migration, 
the Exchange intends to adopt certain trading functionality currently 
utilized at Nasdaq Exchanges.\7\
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    \7\ See Securities Exchange Act Release No. 80075 (February 21, 
2017), 82 FR 11975 (February 27, 2017) (SR-ISE-2017-02) (Notice of 
Filing of Proposed Rule Change to Amend Various Rules in Connection 
with a System Migration to Nasdaq INET Technology).
---------------------------------------------------------------------------

    The Exchange desires to delay the implementation of the legging 
functionality for Stock-Option Orders on INET at this time and rollout 
this functionality within one year of the date of the filing of this 
proposal. The Exchange is staging the re-platform to provide maximum 
benefit to its Members while also ensuring a successful rollout. This 
delay in implementing the legging functionality for Stock-Option Orders 
will provide the Exchange additional time to test and implement this 
functionality on the INET platform.

[[Page 16085]]

    The Exchange filed a proposal to begin a system migration to Nasdaq 
INET in Q2 of 2017.\8\ The migration will be on a symbol by symbol 
basis as specified by the Exchange in a notice to Members.\9\ The 
Exchange is proposing to implement this rule change on the INET 
platform as the symbols migrate to that platform. The legging 
functionality for Stock-Option Orders will be available until the 
symbol migrates to the INET platform. Once the symbol migrates to INET 
the legging functionality for Stock-Option Orders will not be 
available. However, Stock-Option Orders will continue to be executed 
against other Stock-Option Orders in the complex order book. The 
Exchange will issue an Options Trader Alert to all Members notifying 
them that legging functionality for Stock-Option Orders will no longer 
be available with the symbol migration to INET. The Exchange proposes 
to launch the legging functionality on the INET platform within one 
year from the date of filing of this rule change to be announced in an 
Options Trader Alert.
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    \8\ Id. This proposal is not approved.
    \9\ The Exchange will issue an Options Trader Alert prior to the 
migration and will specify the dates that symbols will migrate to 
the INET platform.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\10\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\11\ 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 because the Exchange desires to rollout the legging 
functionality for Stock-Option Orders at a later date to allow 
additional time to rebuild this technology on the new platform.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    By delaying the implementation of functionality with the symbol 
migration to INET, the Exchange will have additional time to test and 
implement this functionality. The Exchange will provide Members with 
ample notice of the turn-off of this functionality and note within that 
notice that Stock-Option Orders will continue to be executed against 
other Stock-Option Orders. The Exchange will continue to provide 
notifications to Members to ensure clarity about the availability of 
this functionality with the symbol migration. The Exchange will issue 
an Options Trader Alert indicating when the legging functionality will 
become available on the INET platform.
    The Exchange does not anticipate any significant impact with 
respect to execution quality. The priority rules will continue to apply 
with respect to these Stock-Option Orders respecting Priority Customer 
Orders.\12\ The Exchange notes that Phlx does not offer legging 
functionality for Stock-Option Orders.\13\
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    \12\ See ISE Rule 722(b)(2).
    \13\ See Phlx Rule 1098.
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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. Members will be able to continue to 
execute complex orders on ISE, except that Stock-Option Orders will 
only be permitted to trade with other Stock-Option Orders in the 
complex order book as the symbol migrates to INET. The Exchange does 
not believe that the proposed rule change will impose any burden on 
intra-market competition because all Members uniformly will only be 
permitted to trade with other Stock-Option Orders in the complex order 
book as the symbol migrates to INET.
    The Exchange proposes to launch the legging functionality on the 
INET platform within one year from the date of filing of this rule 
change to be announced in an Options Trader Alert.

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)(iii) of the Act \14\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\15\
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    \14\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \15\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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.
---------------------------------------------------------------------------

    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: (i) 
Necessary or appropriate in the public interest; (ii) for the 
protection of investors; or (iii) 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-ISE-2017-28 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-ISE-2017-28. 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 the

[[Page 16086]]

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-ISE-2017-28 and should be submitted on or before April 
21, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-06334 Filed 3-30-17; 8:45 am]
BILLING CODE 8011-01-P



                                                16084                             Federal Register / Vol. 82, No. 61 / Friday, March 31, 2017 / Notices

                                                Electronic Comments                                       SECURITIES AND EXCHANGE                                  concerning the purpose of and basis for
                                                                                                          COMMISSION                                               the proposed rule change and discussed
                                                  • Use the Commission’s Internet                                                                                  any comments it received on the
                                                comment form (http://www.sec.gov/                         [Release No. 34–80316; File No. SR–ISE–
                                                                                                          2017–28]
                                                                                                                                                                   proposed rule change. The text of these
                                                rules/sro.shtml); or                                                                                               statements may be examined at the
                                                  • Send an email to rule-comments@                       Self-Regulatory Organizations;                           places specified in Item IV below. The
                                                sec.gov. Please include File Number SR–                   International Securities Exchange,                       Exchange has prepared summaries, set
                                                NYSE–2017–12 on the subject line.                         LLC; Notice of Filing and Immediate                      forth in sections A, B, and C below, of
                                                                                                          Effectiveness of Proposed Rule                           the most significant aspects of such
                                                Paper Comments                                            Change To Delay the Implementation                       statements.
                                                  • Send paper comments in triplicate                     of Functionality Associated With                         A. Self-Regulatory Organization’s
                                                to Secretary, Securities and Exchange                     Stock-Option Orders                                      Statement of the Purpose of, and
                                                Commission, 100 F Street NE.,                             March 27, 2017.                                          Statutory Basis for, the Proposed Rule
                                                Washington, DC 20549–1090.                                   Pursuant to Section 19(b)(1) of the                   Change
                                                All submissions should refer to File                      Securities Exchange Act of 1934                          1. Purpose
                                                                                                          (‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                                Number SR–NYSE–2017–12. This file                                                                                     Today, ISE accepts complex orders,
                                                                                                          notice is hereby given that on March 21,
                                                number should be included on the                                                                                   including Stock-Option Orders that
                                                                                                          2017, the International Securities
                                                subject line if email is used. To help the                Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’)                  contain a stock component. Today,
                                                Commission process and review your                        filed with the Securities and Exchange                   complex orders, including Stock-Option
                                                comments more efficiently, please use                     Commission (‘‘SEC’’ or ‘‘Commission’’)                   Orders, are permitted to: (1) Leg into the
                                                only one method. The Commission will                      the proposed rule change as described                    regular market where they may trade
                                                post all comments on the Commission’s                     in Items I and II below, which Items                     against bids and offers for the individual
                                                Internet Web site (http://www.sec.gov/                    have been prepared by the Exchange.                      legs pursuant to Rule 722(b)(3)(ii) and
                                                rules/sro.shtml). Copies of the                           ISE filed the proposal pursuant to                       (iii) (‘‘legging’’); 6 or (2) execute against
                                                submission, all subsequent                                Section 19(b)(3)(A)(iii) of the Act 3 and                another order within the complex order
                                                amendments, all written statements                        Rule 19b–4(f)(6) thereunder.4 The                        book.
                                                with respect to the proposed rule                         Commission is publishing this notice to                     The Exchange proposes to delay the
                                                change that are filed with the                            solicit comments on the proposed rule                    implementation of legging functionality
                                                Commission, and all written                               change from interested persons.                          for Stock-Option Orders in connection
                                                communications relating to the                                                                                     with a migration to the INET platform.
                                                                                                          I. Self-Regulatory Organization’s
                                                proposed rule change between the                                                                                   INET is the proprietary core technology
                                                                                                          Statement of the Terms of Substance of
                                                Commission and any person, other than                                                                              utilized across Nasdaq’s global markets
                                                                                                          the Proposed Rule Change
                                                those that may be withheld from the                                                                                and utilized on The NASDAQ Options
                                                                                                             The Exchange proposes to delay the                    Market LLC (‘‘NOM’’), NASDAQ PHLX
                                                public in accordance with the                             implementation of functionality
                                                provisions of 5 U.S.C. 552, will be                                                                                LLC (‘‘Phlx’’) and NASDAQ BX, Inc.
                                                                                                          associated with Stock-Option Orders 5                    (‘‘BX’’) (collectively, ‘‘Nasdaq
                                                available for Web site viewing and                        in connection with a system migration                    Exchanges’’). The migration of ISE to the
                                                printing in the Commission’s Public                       to Nasdaq INET technology.                               Nasdaq INET architecture would result
                                                Reference Room, 100 F Street NE.,                            The text of the proposed rule change                  in higher performance, scalability, and
                                                Washington, DC 20549 on official                          is available on the Exchange’s Web site                  more robust architecture. With this
                                                business days between the hours of                        at www.ise.com, at the principal office                  system migration, the Exchange intends
                                                10:00 a.m. and 3:00 p.m. Copies of the                    of the Exchange, and at the                              to adopt certain trading functionality
                                                filing also will be available for                         Commission’s Public Reference Room.                      currently utilized at Nasdaq Exchanges.7
                                                inspection and copying at the principal                   II. Self-Regulatory Organization’s                          The Exchange desires to delay the
                                                office of the Exchange. All comments                      Statement of the Purpose of, and                         implementation of the legging
                                                received will be posted without change;                   Statutory Basis for, the Proposed Rule                   functionality for Stock-Option Orders
                                                the Commission does not edit personal                     Change                                                   on INET at this time and rollout this
                                                identifying information from                                                                                       functionality within one year of the date
                                                                                                             In its filing with the Commission, the
                                                submissions. You should submit only                                                                                of the filing of this proposal. The
                                                                                                          Exchange included statements
                                                information that you wish to make                                                                                  Exchange is staging the re-platform to
                                                available publicly. All submissions                         1 15  U.S.C. 78s(b)(1).                                provide maximum benefit to its
                                                should refer to File Number SR–NYSE–                        2 17  CFR 240.19b–4.                                   Members while also ensuring a
                                                2017–12 and should be submitted on or                        3 15 U.S.C. 78s(b)(3)(A)(iii).                        successful rollout. This delay in
                                                before April 21, 2017.                                       4 17 CFR 240.19b–4(f)(6).
                                                                                                                                                                   implementing the legging functionality
                                                                                                             5 A stock-option order is an order to buy or sell
                                                  For the Commission, by the Division of
                                                                                                                                                                   for Stock-Option Orders will provide
                                                                                                          a stated number of units of an underlying stock or
                                                Trading and Markets, pursuant to delegated                a security convertible into the underlying stock
                                                                                                                                                                   the Exchange additional time to test and
                                                authority.7                                               (‘‘convertible security’’) coupled with the purchase     implement this functionality on the
                                                                                                          or sale of options contract(s) on the opposite side      INET platform.
                                                Eduardo A. Aleman,                                        of the market representing either (A) the same
sradovich on DSK3GMQ082PROD with NOTICES




                                                Assistant Secretary.                                      number of units of the underlying stock or
                                                                                                                                                                     6 Supplementary Material .02 to Rule 722 also
                                                                                                          convertible security, or (B) the number of units of
                                                [FR Doc. 2017–06332 Filed 3–30–17; 8:45 am]               the underlying stock necessary to create a delta         contains provisions relevant to the legging of Stock-
                                                BILLING CODE 8011–01–P                                    neutral position, but in no case in a ratio greater      Option Orders specifically.
                                                                                                                                                                     7 See Securities Exchange Act Release No. 80075
                                                                                                          than eight-to-one (8.00), where the ratio represents
                                                                                                          the total number of units of the underlying stock        (February 21, 2017), 82 FR 11975 (February 27,
                                                                                                          or convertible security in the option leg to the total   2017) (SR–ISE–2017–02) (Notice of Filing of
                                                                                                          number of units of the underlying stock or               Proposed Rule Change to Amend Various Rules in
                                                                                                          convertible security in the stock leg. See ISE Rule      Connection with a System Migration to Nasdaq
                                                  7 17   CFR 200.30–3(a)(12).                             722(a)(2).                                               INET Technology).



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                                                                                Federal Register / Vol. 82, No. 61 / Friday, March 31, 2017 / Notices                                                         16085

                                                  The Exchange filed a proposal to                       the legging functionality will become                        At any time within 60 days of the
                                                begin a system migration to Nasdaq                       available on the INET platform.                           filing of the proposed rule change, the
                                                INET in Q2 of 2017.8 The migration will                    The Exchange does not anticipate any                    Commission summarily may
                                                be on a symbol by symbol basis as                        significant impact with respect to                        temporarily suspend such rule change if
                                                specified by the Exchange in a notice to                 execution quality. The priority rules                     it appears to the Commission that such
                                                Members.9 The Exchange is proposing                      will continue to apply with respect to                    action is: (i) Necessary or appropriate in
                                                to implement this rule change on the                     these Stock-Option Orders respecting                      the public interest; (ii) for the protection
                                                INET platform as the symbols migrate to                  Priority Customer Orders.12 The                           of investors; or (iii) otherwise in
                                                that platform. The legging functionality                 Exchange notes that Phlx does not offer                   furtherance of the purposes of the Act.
                                                for Stock-Option Orders will be                          legging functionality for Stock-Option                    If the Commission takes such action, the
                                                available until the symbol migrates to                   Orders.13                                                 Commission shall institute proceedings
                                                the INET platform. Once the symbol                       B. Self-Regulatory Organization’s                         to determine whether the proposed rule
                                                migrates to INET the legging                             Statement on Burden on Competition                        should be approved or disapproved.
                                                functionality for Stock-Option Orders
                                                                                                           The Exchange does not believe that                      IV. Solicitation of Comments
                                                will not be available. However, Stock-
                                                Option Orders will continue to be                        the proposed rule change will impose                        Interested persons are invited to
                                                executed against other Stock-Option                      any burden on competition not                             submit written data, views and
                                                Orders in the complex order book. The                    necessary or appropriate in furtherance                   arguments concerning the foregoing,
                                                Exchange will issue an Options Trader                    of the purposes of the Act. The                           including whether the proposed rule
                                                Alert to all Members notifying them that                 Exchange does not believe that the                        change is consistent with the Act.
                                                legging functionality for Stock-Option                   proposed rule change will impact the                      Comments may be submitted by any of
                                                Orders will no longer be available with                  intense competition that exists in the                    the following methods:
                                                the symbol migration to INET. The                        options market. Members will be able to
                                                                                                         continue to execute complex orders on                     Electronic Comments
                                                Exchange proposes to launch the legging
                                                functionality on the INET platform                       ISE, except that Stock-Option Orders                        • Use the Commission’s Internet
                                                within one year from the date of filing                  will only be permitted to trade with                      comment form (http://www.sec.gov/
                                                of this rule change to be announced in                   other Stock-Option Orders in the                          rules/sro.shtml); or
                                                an Options Trader Alert.                                 complex order book as the symbol                            • Send an email to rule-comments@
                                                                                                         migrates to INET. The Exchange does                       sec.gov. Please include File Number SR–
                                                2. Statutory Basis                                       not believe that the proposed rule                        ISE–2017–28 on the subject line.
                                                   The Exchange believes that its                        change will impose any burden on intra-                   Paper Comments
                                                proposal is consistent with Section 6(b)                 market competition because all
                                                of the Act,10 in general, and furthers the               Members uniformly will only be                              • Send paper comments in triplicate
                                                objectives of Section 6(b)(5) of the Act,11              permitted to trade with other Stock-                      to Secretary, Securities and Exchange
                                                in particular, in that it is designed to                 Option Orders in the complex order                        Commission, 100 F Street NE.,
                                                promote just and equitable principles of                 book as the symbol migrates to INET.                      Washington, DC 20549–1090.
                                                trade, to remove impediments to and                        The Exchange proposes to launch the                     All submissions should refer to File
                                                perfect the mechanism of a free and                      legging functionality on the INET                         Number SR–ISE–2017–28. This file
                                                open market and a national market                        platform within one year from the date                    number should be included on the
                                                system, and, in general to protect                       of filing of this rule change to be                       subject line if email is used. To help the
                                                investors and the public interest                        announced in an Options Trader Alert.                     Commission process and review your
                                                because the Exchange desires to rollout                                                                            comments more efficiently, please use
                                                                                                         C. Self-Regulatory Organization’s
                                                the legging functionality for Stock-                                                                               only one method. The Commission will
                                                                                                         Statement on Comments on the
                                                Option Orders at a later date to allow                                                                             post all comments on the Commission’s
                                                                                                         Proposed Rule Change Received From
                                                additional time to rebuild this                                                                                    Internet Web site (http://www.sec.gov/
                                                                                                         Members, Participants, or Others
                                                technology on the new platform.                                                                                    rules/sro.shtml). Copies of the
                                                   By delaying the implementation of                       No written comments were either                         submission, all subsequent
                                                functionality with the symbol migration                  solicited or received.                                    amendments, all written statements
                                                to INET, the Exchange will have                          III. Date of Effectiveness of the                         with respect to the proposed rule
                                                additional time to test and implement                    Proposed Rule Change and Timing for                       change that are filed with the
                                                this functionality. The Exchange will                    Commission Action                                         Commission, and all written
                                                provide Members with ample notice of                                                                               communications relating to the
                                                the turn-off of this functionality and                      Because the foregoing proposed rule                    proposed rule change between the
                                                note within that notice that Stock-                      change does not: (i) Significantly affect                 Commission and any person, other than
                                                Option Orders will continue to be                        the protection of investors or the public                 those that may be withheld from the
                                                executed against other Stock-Option                      interest; (ii) impose any significant                     public in accordance with the
                                                Orders. The Exchange will continue to                    burden on competition; and (iii) become                   provisions of 5 U.S.C. 552, will be
                                                provide notifications to Members to                      operative for 30 days from the date on                    available for Web site viewing and
                                                ensure clarity about the availability of                 which it was filed, or such shorter time                  printing in the Commission’s Public
                                                this functionality with the symbol                       as the Commission may designate, it has                   Reference Room, 100 F Street NE.,
                                                migration. The Exchange will issue an                    become effective pursuant to Section                      Washington, DC 20549, on official
                                                Options Trader Alert indicating when                     19(b)(3)(A)(iii) of the Act 14 and
sradovich on DSK3GMQ082PROD with NOTICES




                                                                                                                                                                   business days between the hours of
                                                                                                         subparagraph (f)(6) of Rule 19b–4                         10:00 a.m. and 3:00 p.m. Copies of the
                                                  8 Id.This proposal is not approved.                    thereunder.15
                                                  9 The Exchange will issue an Options Trader
                                                                                                           12 See
                                                                                                                                                                   the Commission written notice of its intent to file
                                                Alert prior to the migration and will specify the                  ISE Rule 722(b)(2).                             the proposed rule change at least five business days
                                                dates that symbols will migrate to the INET                13 See  Phlx Rule 1098.                                 prior to the date of filing of the proposed rule
                                                platform.                                                  14 15 U.S.C. 78s(b)(3)(A)(iii).
                                                                                                                                                                   change, or such shorter time as designated by the
                                                  10 15 U.S.C. 78f(b).                                     15 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–       Commission. The Exchange has satisfied this
                                                  11 15 U.S.C. 78f(b)(5).                                4(f)(6) requires a self-regulatory organization to give   requirement.



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                                                16086                             Federal Register / Vol. 82, No. 61 / Friday, March 31, 2017 / Notices

                                                filing also will be available for                         submitted to SBA by lenders that are                  Department of State (telephone: 202–
                                                inspection and copying at the principal                   applying for participation in SBA’s                   632–6471; email: section2459@
                                                office of the Exchange. All comments                      Community Advantage Pilot Program.                    state.gov). The mailing address is U.S.
                                                received will be posted without change;                   SBA uses the information to evaluate                  Department of State, L/PD, SA–5, Suite
                                                the Commission does not edit personal                     the lenders eligibility and qualifications            5H03, Washington, DC 20522–0505.
                                                identifying information from                              for participation in the pilot program.
                                                                                                                                                                Alyson Grunder,
                                                submissions. You should submit only                         Title: ‘‘Community Advantage Lender
                                                information that you wish to make                         Participation Application.’’                          Deputy Assistant Secretary for Policy, Bureau
                                                                                                                                                                of Educational and Cultural Affairs,
                                                available publicly. All submissions                         Description of Respondents: SBA                     Department of State.
                                                should refer to File Number SR–ISE–                       Lenders.
                                                                                                                                                                [FR Doc. 2017–06354 Filed 3–30–17; 8:45 am]
                                                2017–28 and should be submitted on or                       Form Number: 2,301.
                                                                                                                                                                BILLING CODE 4710–05–P
                                                before April 21, 2017.                                      Annual Responses: 25.
                                                  For the Commission, by the Division of                    Annual Burden: 175.
                                                Trading and Markets, pursuant to delegated                Curtis B. Rich,
                                                authority.16
                                                                                                                                                                DEPARTMENT OF THE TREASURY
                                                                                                          Management Analyst.
                                                Eduardo A. Aleman,                                                                                              Internal Revenue Service
                                                                                                          [FR Doc. 2017–06358 Filed 3–30–17; 8:45 am]
                                                Assistant Secretary.
                                                                                                          BILLING CODE 8025–01–P
                                                [FR Doc. 2017–06334 Filed 3–30–17; 8:45 am]                                                                     Proposed Collection; Comment
                                                BILLING CODE 8011–01–P                                                                                          Request for Health Plan Administrator
                                                                                                                                                                (HPA) Return of Funds
                                                                                                          DEPARTMENT OF STATE
                                                                                                                                                                AGENCY: Internal Revenue Service (IRS),
                                                SMALL BUSINESS ADMINISTRATION                             [Public Notice 9931]                                  Treasury.
                                                Reporting and Recordkeeping                               Notice of Determinations; Culturally                  ACTION: Notice and request for
                                                Requirements Under OMB Review                             Significant Object Imported for                       comments.
                                                                                                          Exhibition Determinations: ‘‘The                      SUMMARY:   The Department of the
                                                AGENCY:      Small Business Administration.
                                                                                                          Philosophy Chamber: Art and Science                   Treasury, as part of its continuing effort
                                                ACTION:     30-Day notice.                                in Harvard’s Teaching Cabinet, 1766–                  to reduce paperwork and respondent
                                                SUMMARY:   The Small Business                             1820’’ Exhibition                                     burden, invites the general public and
                                                Administration (SBA) is publishing this                   SUMMARY:   Notice is hereby given of the              other Federal agencies to take this
                                                notice to comply with requirements of                     following determinations: Pursuant to                 opportunity to comment on proposed
                                                the Paperwork Reduction Act (PRA) (44                     the authority vested in me by the Act of              and/or continuing information
                                                U.S.C. Chapter 35), which requires                        October 19, 1965 (79 Stat. 985; 22 U.S.C.             collections, as required by the
                                                agencies to submit proposed reporting                     2459), E.O. 12047 of March 27, 1978, the              Paperwork Reduction Act of 1995.
                                                and recordkeeping requirements to                         Foreign Affairs Reform and                            Currently, the IRS is soliciting
                                                OMB for review and approval, and to                       Restructuring Act of 1998 (112 Stat.                  comments concerning Form 13560,
                                                publish a notice in the Federal Register                  2681, et seq.; 22 U.S.C. 6501 note, et                Health Plan Administrator (HPA) Return
                                                notifying the public that the agency has                  seq.), Delegation of Authority No. 234 of             of Funds.
                                                made such a submission. This notice                       October 1, 1999, Delegation of Authority              DATES: Written comments should be
                                                also allows an additional 30 days for                     No. 236–3 of August 28, 2000 (and, as                 received on or before May 30, 2017 to
                                                public comments.                                          appropriate, Delegation of Authority No.              be assured of consideration.
                                                DATES: Submit comments on or before                       257–1 of December 11, 2015), I hereby                 ADDRESSES: Direct all written comments
                                                May 1, 2017.                                              determine that an object to be included               to Laurie Brimmer, Internal Revenue
                                                ADDRESSES: Comments should refer to                       in the exhibition ‘‘The Philosophy                    Service, Room 6526, 1111 Constitution
                                                the information collection by name and/                   Chamber: Art and Science in Harvard’s                 Avenue NW., Washington, DC 20224.
                                                or OMB Control Number and should be                       Teaching Cabinet, 1766–1820,’’                        Requests for additional information or
                                                sent to: Agency Clearance Officer, Curtis                 imported from abroad for temporary                    copies of the form should be directed to
                                                Rich, Small Business Administration,                      exhibition within the United States, is               Carolyn N. Brown, at Internal Revenue
                                                409 3rd Street SW., 5th Floor,                            of cultural significance. The object is               Service, Room 6526, 1111 Constitution
                                                Washington, DC 20416; and SBA Desk                        imported pursuant to a loan agreement                 Avenue NW., Washington, DC 20224, or
                                                Officer, Office of Information and                        with the foreign owner or custodian. I                through the Internet, at
                                                Regulatory Affairs, Office of                             also determine that the exhibition or                 Carolyn.N.Brown@irs.gov.
                                                Management and Budget, New                                display of the exhibit object at the                  SUPPLEMENTARY INFORMATION:
                                                Executive Office Building, Washington,                    Harvard Art Museums, Cambridge,                         Title: Form 13560, Health Plan
                                                DC 20503.                                                 Massachusetts, from on or about May                   Administrator (HPA) Return of Funds.
                                                FOR FURTHER INFORMATION CONTACT:                          19, 2017, until on or about December 31,                OMB Number: 1545–1891.
                                                Curtis Rich, Agency Clearance Officer,                    2017, and at possible additional                        Form Number: Form 13560.
                                                (202) 205–7030 curtis.rich@sba.gov.                       exhibitions or venues yet to be                         Abstract: Form 13560 is completed by
                                                   Copies: A copy of the Form OMB 83–                     determined, is in the national interest.              Health Plan Administrators (HPAs) and
                                                1, supporting statement, and other                        I have ordered that Public Notice of                  accompanies a return of funds in order
sradovich on DSK3GMQ082PROD with NOTICES




                                                documents submitted to OMB for                            these Determinations be published in                  to ensure proper handling. This form
                                                review may be obtained from the                           the Federal Register.                                 serves as supporting documentation for
                                                Agency Clearance Officer.                                 FOR FURTHER INFORMATION CONTACT: For                  any funds returned by an HPA and
                                                SUPPLEMENTARY INFORMATION: This                           further information, including an object              clarifies where the payment should be
                                                revised information collection is                         list, contact the Office of Public                    applied and why it is being sent.
                                                                                                          Diplomacy and Public Affairs in the                     Current Actions: There is no change
                                                  16 17   CFR 200.30–3(a)(12).                            Office of the Legal Adviser, U.S.                     in the paperwork burden previously


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Document Created: 2017-03-31 01:37:50
Document Modified: 2017-03-31 01:37:50
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 16084 

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