82 FR 22690 - Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 3317 To Modify the Date of Appendix B Web Site Data Publication
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 94 (May 17, 2017)
Federal Register Volume 82, Issue 94 (May 17, 2017)
| Page Range | 22690-22692 | |
| FR Document | 2017-09930 |
[Federal Register Volume 82, Number 94 (Wednesday, May 17, 2017)] [Notices] [Pages 22690-22692] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-09930] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-80660; File No. SR-Phlx-2017-33] Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 3317 To Modify the Date of Appendix B Web Site Data Publication May 11, 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 April 28, 2017, NASDAQ PHLX LLC (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule [[Page 22691]] 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to modify the date of Appendix B Web site data publication pursuant to the Regulation NMS Plan to Implement a Tick Size Pilot Program (``Plan''). The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqphlx.cchwallstreet.com/ 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 Rule 3317(b) (Compliance with Data Collection Requirements) \3\ implements the data collection and Web site publication requirements of the Plan.\4\ Commentary .08 to Rule 3317 provides, among other things, that the requirement that the Exchange provide information to the SEC within 30 days following month end pursuant to Appendix B and C of the Plan shall commence at the beginning of the Pilot Period.\5\ Commentary .08 to Rule 3317 also provides that, with respect to data for the Pre- Pilot and Pilot Period, the requirement that the Exchange or DEA make Appendix B data publicly available on the Exchange's or DEA's Web site shall commence on April 28, 2017.\6\ --------------------------------------------------------------------------- \3\ See Rule 3317(b). See also Securities Exchange Act Release No. 77458 (March 28, 2016), 81 FR 18919 (April 1, 2016) (SR-Phlx- 2016-39). \4\ The Participants filed the Plan to comply with an order issued by the Commission on June 24, 2014. See Letter from Brendon J. Weiss, Vice President, Intercontinental Exchange, Inc., to Secretary, Commission, dated August 25, 2014 (``SRO Tick Size Plan Proposal''). See Securities Exchange Act Release No. 72460 (June 24, 2014), 79 FR 36840 (June 30, 2014); see also Securities Exchange Act Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015). \5\ Unless otherwise defined herein, capitalized terms have the meaning ascribed to them in Rule 3317. \6\ On November 30, 2016, the SEC granted exemptive relief to the Participants to, among other things, delay the publication of Web site data pursuant to Appendices B and C to the Plan until February 28, 2017, and to delay the ongoing Web site publication by ninety days such that data would be published within 120 calendar days following the end of the month. See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Marcia E. Asquith, Senior Vice President and Corporate Secretary, FINRA, dated November 30, 2016; see also Securities Exchange Act Release No. 79545 (December 14, 2016), 81 FR 92916 (December 20, 2016) (SR-Phlx-2016-118). The SEC subsequently extended this exemptive relief to April 28, 2017. See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Robert L.D. Colby, Executive Vice President and Chief Legal Officer, FINRA, dated February 28, 2017. --------------------------------------------------------------------------- The Exchange is now proposing to amend Commentary .08 to Rule 3317 to delay the date by which Pre-Pilot and Pilot Appendix B data is to be made publicly available on the Exchange's Web site from April 28, 2017 to August 31, 2017.\7\ --------------------------------------------------------------------------- \7\ Commentary .08 to Rule 3317 initially required that the Exchange make Pre-Pilot and Pilot Appendix B data publicly available by February 28, 2017. Phlx filed a proposed rule change to extend this date to April 28, 2017. See Securities Exchange Act Release No. 80226 (March 13, 2017), 82 FR 14238 (March 17, 2017) (SR-Phlx-2017- 22). --------------------------------------------------------------------------- In the SRO Tick Size Plan Proposal, the Participants stated that the public data will be made available for free ``on a disaggregated basis by trading center'' on the Web sites of the Participants and the Designated Examining Authorities.\8\ However, market participants have expressed confidentiality concerns regarding this approach for over- the-counter (``OTC'') data.\9\ Thus, Phlx is filing the instant proposed rule change to provide additional time to assess a means of addressing the confidentiality concerns raised in connection with the publication of Appendix B data related to OTC activity in furtherance of the objectives of the Plan.\10\ Pursuant to this amendment, Appendix B data publication will be delayed until August 31, 2017. The Participants anticipate filing additional proposed rule changes to address Appendix B data publication. --------------------------------------------------------------------------- \8\ See Securities Exchange Act Release No. 73511 (November 3, 2014), 79 FR 66423 (November 7, 2014) (Notice of Filing of Proposed National Market System Plan to Implement a Tick Size Pilot Program on a One-Year Pilot Basis, File No. 4-657) (``Tick Size Plan Proposal''). \9\ See letters from Adam C. Cooper, Senior Managing Director and Chief Legal Officer, Citadel Securities, to Brent J. Fields, Secretary, Commission, dated December 21, 2016 (``Citadel letter''); and William Hebert, Managing Director, Financial Information Forum, to Robert W. Errett, Deputy Secretary, Commission, dated December 21, 2016 (``FIF letter''). \10\ In connection with its filing to implement a similar change in its rules, the Financial Industry Regulatory Authority, Inc. is also submitting an exemptive request to the SEC on behalf of all Plan Participants requesting relief from the relevant requirements of the Plan. --------------------------------------------------------------------------- Phlx has filed the proposed rule change for immediate effectiveness. The operative date of the proposed rule change will be the date of filing. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\11\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\12\ 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. Phlx also believes that the proposal is consistent with Section 6(b)(8) of the Act,\13\ which requires that Exchange rules not impose any burden on competition that is not necessary or appropriate. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b). \12\ 15 U.S.C. 78f(b)(5). \13\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Plan is designed to allow the Commission, market participants, and the public to study and assess the impact of increment conventions on the liquidity and trading of the common stock of small- capitalization companies. Phlx believes that this proposal is consistent with the Act because it is in furtherance of the objectives of Section VII(A) of the Plan in that it is designed to provide the Exchange with additional time to assess a means of addressing the confidentiality concerns raised in connection with the publication of Appendix B data, to comply with the Plan's requirements that the data made publicly available will not identify the trading center that generated the data. 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 proposed rule change implements the provisions of the Plan, and all Participants are filing similar proposals to extend the publication date of Appendix B data. [[Page 22692]] 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) of the Act \14\ and Rule 19b- 4(f)(6) thereunder.\15\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19(b)-4(f)(6) normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has filed the proposed rule change for immediate effectiveness and has requested that the Commission waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing so that it may become operative on the date of filing. The Exchange notes that the proposed rule change is intended to mitigate confidentiality concerns raised in connection with Section VII(A) of the Plan, which provides that the data made publicly available will not identify the Trading Center that generated the data. The Exchange states that the additional time would allow consideration of a methodology to mitigate concerns related to the publication of Appendix B data.\16\ --------------------------------------------------------------------------- \16\ The Commission recently approved a FINRA proposal to implement an aggregated, anonymous grouped masking methodology for the publication of Appendix B data related to OTC trading activity. See Securities Exchange Release No. 80551, (April 28, 2017), 82 FR 20948 (May 4, 2017). See also Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Marcia E. Asquith, Executive Vice President FINRA, dated April 28, 2017. --------------------------------------------------------------------------- The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because it will synchronize the timing for publication of Appendix B data for all Participants, which should enhance the consistency and usefulness of the data.\17\ Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative on the date of filing.\18\ --------------------------------------------------------------------------- \17\ The Commission recently granted exemptive relief to the Participants to delay the publication of their Appendix B data until August 31, 2017. See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Jennifer Piorko Mitchell, Vice President and Deputy Corporate Secretary, FINRA, dated April 28, 2017. The Commission notes that other Participants have submitted proposed rule changes to delay the publication of Appendix B data until August 31, 2017. See e.g., SR- BatsBYX-2017-10; SR-BatsBZX-2017-31; SR-BatsEDGA-2017-10; SR- BatsEDGX-2017-19; SR-BX-2017-022; SR-CHX-2017-07; SR-FINRA-2017-010; SR-IEX-2017-12; SR-NASDAQ-2017-044; SR-NYSE-2017-19; SR-NYSEArca- 2017-49; SR-NYSEMKT-2017-24. \18\ For purposes only of waiving the operative delay for this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(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 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 CommentsUse 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-Phlx-2017-33 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-Phlx-2017-33. 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 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-Phlx-2017-33 and should be submitted on or before June 7, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-09930 Filed 5-16-17; 8:45 am] BILLING CODE 8011-01-P
![22690 Federal Register / Vol. 82, No. 94 / Wednesday, May 17, 2017 / Notices
by 5:30 p.m. on June 5, 2017 and should Underlying Fund, and any broker or the Act. Applicants assert that
be accompanied by proof of service on dealer registered under the Securities permitting a Section 12(d)(1)(G) Fund to
the applicants, in the form of an Exchange Act of 1934 to sell shares of invest in Other Investments as described
affidavit, or, for lawyers, a certificate of the Underlying Fund to a Fund of in the application would not raise any
service. Pursuant to rule 0–5 under the Funds, in excess of the limits in section of the concerns that section 12(d)(1) of
Act, hearing requests should state the 12(d)(1)(B) of the Act.3 Applicants also the Act was intended to address.
nature of the writer’s interest, any facts request an order of exemption under 3. Section 12(d)(1)(J) of the Act
bearing upon the desirability of a sections 6(c) and 17(b) of the Act from provides that the Commission may
hearing on the matter, the reason for the the prohibition on certain affiliated exempt any person, security, or
request, and the issues contested. transactions in section 17(a) of the Act transaction, or any class or classes of
Persons who wish to be notified of a to the extent necessary to permit the persons, securities, or transactions, from
hearing may request notification by Underlying Funds to sell their shares to, any provision of section 12(d)(1) if the
writing to the Commission’s Secretary. and redeem their shares from, the Funds exemption is consistent with the public
ADDRESSES: Secretary, U.S. Securities of Funds.4 Applicants state that such interest and the protection of investors.
and Exchange Commission, 100 F Street transactions will be consistent with the Section 17(b) of the Act authorizes the
NE., Washington, DC 20549–1090. policies of each Fund of Funds and each Commission to grant an order
Applicants: Benjamin D. Schmidt, Underlying Fund and with the general permitting a transaction otherwise
Aspiriant, LLC, 1111 East Kilbourn purposes of the Act and will be based prohibited by section 17(a) if it finds
Avenue, Suite 1700, Milwaukee, WI on the net asset values of the that (a) the terms of the proposed
53202. Underlying Funds. transaction are fair and reasonable and
2. Applicants further request an do not involve overreaching on the part
FOR FURTHER INFORMATION CONTACT: exemption under section 6(c) from rule of any person concerned; (b) the
Kieran G. Brown, Senior Counsel, at 12d1–2 under the Act to permit any proposed transaction is consistent with
(202) 551–6773, or David Marcinkus, Fund that relies on section 12(d)(1)(G) the policies of each registered
Branch Chief, at (202) 551–6821 of the Act (‘‘Section 12(d)(1)(G) Fund’’) investment company involved; and (c)
(Division of Investment Management, and that otherwise complies with rule the proposed transaction is consistent
Chief Counsel’s Office). 12d1–2 under the Act, to also invest, to with the general purposes of the Act.
SUPPLEMENTARY INFORMATION: The the extent consistent with its investment Section 6(c) of the Act permits the
following is a summary of the objective, policies, strategies and Commission to exempt any persons or
application. The complete application limitations, in financial instruments that transactions from any provision of the
may be obtained via the Commission’s may not be securities within the Act if such exemption is necessary or
Web site by searching for the file meaning of section 2(a)(36) of the Act appropriate in the public interest and
number, or for an applicant using the (‘‘Other Investments’’). consistent with the protection of
Company name box, at http:// 3. Applicants agree that any order investors and the purposes fairly
www.sec.gov/search/search.htm, or by granting the requested relief will be intended by the policy and provisions of
calling (202) 551–8090. subject to the terms and conditions the Act.
stated in the application. Such terms For the Commission, by the Division of
Summary of the Application and conditions are designed to, among Investment Management, pursuant to
1. Applicants request an order to other things, help prevent any potential delegated authority.
permit (a) each Fund 1 (each a ‘‘Fund of (i) undue influence over an Underlying Eduardo A. Aleman,
Funds’’) to acquire shares of Underlying Fund that is not in the same ‘‘group of Assistant Secretary.
Funds 2 in excess of the limits in investment companies’’ as the Fund of [FR Doc. 2017–09934 Filed 5–16–17; 8:45 am]
sections 12(d)(1)(A) and (C) of the Act Funds through control or voting power, BILLING CODE 8011–01–P
and (b) each Underlying Fund, any or in connection with certain services,
principal underwriter for the transactions, and underwritings, (ii)
excessive layering of fees, and (iii) SECURITIES AND EXCHANGE
1 Applicants request that the order apply to each overly complex fund structures, which COMMISSION
existing and future series of Aspiriant Trust and to are the concerns underlying the limits
each existing and future registered open-end [Release No. 34–80660; File No. SR–Phlx–
investment company or series thereof that is in sections 12(d)(1)(A), (B), and (C) of
2017–33]
advised by Aspiriant, LLC or its successor or by any
entity controlling, controlled by or under common 3 Applicants are not requesting relief for a Fund
control with Aspiriant, LLC or its successor and is of Funds to invest in business development
Self-Regulatory Organizations;
part of the same ‘‘group of investment companies’’ companies and registered closed-end investment NASDAQ PHLX LLC; Notice of Filing
as Aspiriant Trust (each, a ‘‘Fund’’). Applicants companies that are not listed on a national and Immediate Effectiveness of
further request that the order also apply to any securities exchange. Proposed Rule Change To Amend Rule
future principal underwriter and distributor for a 4 Applicants note that a Fund of Funds generally
3317 To Modify the Date of Appendix
Fund. For purposes of the requested order, would purchase and sell shares of an Underlying
‘‘successor’’ is limited to an entity that results from Fund that operates as an ETF, closed-end fund, or
B Web Site Data Publication
a reorganization into another jurisdiction or a business development company through secondary
change in the type of business organization. For May 11, 2017.
market transactions rather than through principal
purposes of the request for relief, the term ‘‘group transactions with the Underlying Fund. Applicants Pursuant to Section 19(b)(1) of the
of investment companies’’ means any two or more nevertheless request relief from sections 17(a)(1) Securities Exchange Act of 1934
registered investment companies, including closed- and (2) to permit each Fund of Funds that is an (‘‘Act’’),1 and Rule 19b–4 thereunder,2
end investment companies, and business affiliated person, or an affiliated person of an
notice is hereby given that on April 28,
nlaroche on DSK30NT082PROD with NOTICES
development companies, that hold themselves out affiliated person, as defined in section 2(a)(3) of the
to investors as related companies for purposes of Act, of an ETF, closed-end fund, or business 2017, NASDAQ PHLX LLC (‘‘Phlx’’ or
investment and investor services. development company to purchase or redeem ‘‘Exchange’’) filed with the Securities
2 Certain of the Underlying Funds have obtained shares from the ETF or to acquire shares from the and Exchange Commission (‘‘SEC’’ or
exemptions from the Commission necessary to closed-end fund or business development company
permit their shares to be listed and traded on a in connection with an underwritten initial or
‘‘Commission’’) the proposed rule
national securities exchange at negotiated prices follow-on offering made by such closed-end fund or
1 15 U.S.C. 78s(b)(1).
and, accordingly, to operate as an exchange-traded business development company as described in the
fund (‘‘ETF’’). application. 2 17 CFR 240.19b–4.
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C. Self-Regulatory Organization’s data.17 Therefore, the Commission Copies of the submission, all
Statement on Comments on the hereby waives the 30-day operative subsequent amendments, all written
Proposed Rule Change Received From delay and designates the proposed rule statements with respect to the proposed
Members, Participants, or Others change to be operative on the date of rule change that are filed with the
No written comments were either filing.18 Commission, and all written
At any time within 60 days of the communications relating to the
solicited or received.
filing of the proposed rule change, the proposed rule change between the
III. Date of Effectiveness of the Commission summarily may Commission and any person, other than
Proposed Rule Change and Timing for temporarily suspend such rule change if those that may be withheld from the
Commission Action it appears to the Commission that such public in accordance with the
action is necessary or appropriate in the provisions of 5 U.S.C. 552, will be
Because the foregoing proposed rule
public interest, for the protection of available for Web site viewing and
change does not: (i) Significantly affect
investors, or otherwise in furtherance of printing in the Commission’s Public
the protection of investors or the public
the purposes of the Act. If the Reference Room, 100 F Street NE.,
interest; (ii) impose any significant
Commission takes such action, the Washington, DC 20549, on official
burden on competition; and (iii) become
Commission shall institute proceedings business days between the hours of
operative for 30 days from the date on
to determine whether the proposed rule 10:00 a.m. and 3:00 p.m. Copies of the
which it was filed, or such shorter time
should be approved or disapproved. filing also will be available for
as the Commission may designate, it has
become effective pursuant to Section IV. Solicitation of Comments inspection and copying at the principal
19(b)(3)(A) of the Act 14 and Rule 19b– office of the Exchange. All comments
Interested persons are invited to received will be posted without change;
4(f)(6) thereunder.15 submit written data, views, and
A proposed rule change filed under the Commission does not edit personal
arguments concerning the foregoing,
Rule 19(b)–4(f)(6) normally does not identifying information from
including whether the proposed rule
become operative prior to 30 days after submissions. You should submit only
change is consistent with the Act.
the date of the filing. However, pursuant information that you wish to make
Comments may be submitted by any of
to Rule 19b–4(f)(6)(iii), the Commission available publicly. All submissions
the following methods:
may designate a shorter time if such should refer to File Number SR–Phlx–
action is consistent with the protection Electronic Comments 2017–33 and should be submitted on or
of investors and the public interest. The • Use the Commission’s Internet before June 7, 2017.
Exchange has filed the proposed rule comment form (http://www.sec.gov/ For the Commission, by the Division of
change for immediate effectiveness and rules/sro.shtml); or Trading and Markets, pursuant to delegated
has requested that the Commission • Send an email to rule-comments@ authority.19
waive the requirement that the proposed sec.gov. Please include File Number SR– Eduardo A. Aleman,
rule change not become operative for 30 Phlx–2017–33 on the subject line. Assistant Secretary.
days after the date of the filing so that Paper Comments [FR Doc. 2017–09930 Filed 5–16–17; 8:45 am]
it may become operative on the date of BILLING CODE 8011–01–P
filing. • Send paper comments in triplicate
The Exchange notes that the proposed to Brent J. Fields, Secretary, Securities
rule change is intended to mitigate and Exchange Commission, 100 F Street SECURITIES AND EXCHANGE
confidentiality concerns raised in NE., Washington, DC 20549–1090. COMMISSION
connection with Section VII(A) of the All submissions should refer to File
Plan, which provides that the data made Number SR–Phlx–2017–33. This file [Release No. 34–80655; File No. SR–
publicly available will not identify the number should be included on the NASDAQ–2017–044]
Trading Center that generated the data. subject line if email is used. To help the
The Exchange states that the additional Commission process and review your Self-Regulatory Organizations; The
time would allow consideration of a comments more efficiently, please use NASDAQ Stock Market LLC; Notice of
methodology to mitigate concerns only one method. The Commission will Filing and Immediate Effectiveness of
related to the publication of Appendix post all comments on the Commission’s Proposed Rule Change To Amend Rule
B data.16 Internet Web site (http://www.sec.gov/ 4770 To Modify the Date of Appendix
The Commission believes that rules/sro.shtml). B Web Site Data Publication
waiving the 30-day operative delay is
17 The Commission recently granted exemptive May 11, 2017.
consistent with the protection of
relief to the Participants to delay the publication of
investors and the public interest their Appendix B data until August 31, 2017. See
Pursuant to Section 19(b)(1) of the
because it will synchronize the timing Letter from David S. Shillman, Associate Director, Securities Exchange Act of 1934
for publication of Appendix B data for Division of Trading and Markets, Commission, to (‘‘Act’’),1 and Rule 19b–4 thereunder,2
all Participants, which should enhance Jennifer Piorko Mitchell, Vice President and Deputy notice is hereby given that on April 28,
Corporate Secretary, FINRA, dated April 28, 2017.
the consistency and usefulness of the The Commission notes that other Participants have
2017, The NASDAQ Stock Market LLC
submitted proposed rule changes to delay the (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
14 15 U.S.C. 78s(b)(3)(A). publication of Appendix B data until August 31, Securities and Exchange Commission
15 17 CFR 240.19b–4(f)(6). 2017. See e.g., SR–BatsBYX–2017–10; SR– (‘‘SEC’’ or ‘‘Commission’’) the proposed
16 The Commission recently approved a FINRA BatsBZX–2017–31; SR–BatsEDGA–2017–10; SR–
rule change as described in Items I and
nlaroche on DSK30NT082PROD with NOTICES
proposal to implement an aggregated, anonymous BatsEDGX–2017–19; SR–BX–2017–022; SR–CHX–
grouped masking methodology for the publication 2017–07; SR–FINRA–2017–010; SR–IEX–2017–12; II below, which Items have been
of Appendix B data related to OTC trading activity. SR–NASDAQ–2017–044; SR–NYSE–2017–19; SR– prepared by the Exchange. The
See Securities Exchange Release No. 80551, (April NYSEArca–2017–49; SR–NYSEMKT–2017–24. Commission is publishing this notice to
28, 2017), 82 FR 20948 (May 4, 2017). See also 18 For purposes only of waiving the operative
Letter from David S. Shillman, Associate Director, delay for this proposal, the Commission has
19 17 CFR 200.30–3(a)(12).
Division of Trading and Markets, Commission, to considered the proposed rule’s impact on
1 15 U.S.C. 78s(b)(1).
Marcia E. Asquith, Executive Vice President FINRA, efficiency, competition, and capital formation. See
dated April 28, 2017. 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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Document Created: 2017-05-17 01:41:52
Document Modified: 2017-05-17 01:41:52
| 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 22690 |
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