82_FR_25133 82 FR 25030 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Market-Maker Reports of Executed Orders

82 FR 25030 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Market-Maker Reports of Executed Orders

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 103 (May 31, 2017)

Page Range25030-25031
FR Document2017-11149

Federal Register, Volume 82 Issue 103 (Wednesday, May 31, 2017)
[Federal Register Volume 82, Number 103 (Wednesday, May 31, 2017)]
[Notices]
[Pages 25030-25031]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-11149]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80760; File No. SR-CBOE-2017-042]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change Relating to Market-Maker Reports of Executed 
Orders

May 24, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on May 15, 2017, Chicago Board Options Exchange, Incorporated (the 
``Exchange'' or ``CBOE'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I and II below, which Items have been prepared by the 
Exchange. The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to delete and amend outdated rule language 
contained in Rule 8.9(b) related to Market-Maker reports of executed 
orders. The text of the proposed rule change is available on the 
Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the 
Secretary, 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
    CBOE Rule 8.9(b) currently provides that:
    ``In a manner prescribed by the Exchange, with respect to 
transactions to be cleared into all accounts carried for Market-Makers 
who are the subject of a clearing firm Letter of Guarantee issued 
pursuant to [CBOE] Rule 8.5, each clearing firm shall, on the business 
day following order entry date, report to the Exchange every executed 
order entered by the Market-Maker for the purchase or sale of (i) a 
security underlying options traded on the Exchange or (ii) a security 
convertible into or exchangeable for such underlying security or (iii) 
a security traded on the Exchange (including, with respect to multiply 
listed securities, orders sent to another exchange), as well as opening 
and closing positions in all such securities held in each such account. 
If the clearing firm does not report any executed order, upon the 
request of the Exchange the Market-Maker who entered the order will be 
responsible for reporting the order information.''
    The Exchange is deleting this rule and replacing it with a rule 
substantially similar to that of the International Securities Exchange, 
LLC [sic] (``ISE''); ISE Gemini, LLC [sic] (``ISE Gemini''); BATS 
Options Market (``BZX''); BOX Options Exchange, LLC (``BOX''); NASDAQ 
Options Market (``NOM''); and NASDAQ OMX BX, Inc. (``BX'').\3\
---------------------------------------------------------------------------

    \3\ See ISE Rule 807(b); ISE Gemini Rule 807(b); BZX Rule 
22.7(b); BOX Rule 8060(b), NOM Rules Chapter 7, Section 7(b); BX 
Rules Chapter 7, Section 7(b).
---------------------------------------------------------------------------

    The proposed rule change will result in some specific changes. 
First of all, Clearing Firms holding accounts for Market-Makers subject 
to a clearing firm letter of guarantee will no longer be required to 
submit daily reports of orders entered by those Market-Maker accounts. 
In addition they will not be required to submit daily position reports. 
Instead, the proposed rule will provide that orders, entered by Market-
Makers for the purchase of (i) a security underlying options traded on 
the Exchange, or (ii) a security convertible into or exchangeable for 
such underlying security, as well as opening and closing positions in 
all such securities shall be provided to the Exchange by Market-Makers 
upon request in a form prescribed by the Exchange. The obligation to 
provide order and position reports will be on the individual Market-
Makers (as opposed to the clearing firms) and will only be required on 
an as needed basis. Previously, Market-Makers were responsible for 
reporting order information, when requested by the Exchange, if the 
clearing firm did not report on an executed order.
    The proposed rule is also eliminating any requirement that either a 
Market-Maker or clearing firm provide order or positon reports for 
securities traded on the Exchange. The requirement to provide order or 
position reports for securities traded on the Exchange has been removed 
completely and this information will not be required even on an as 
needed basis pursuant to proposed Rule 8.9(b). ``Securities traded on 
the Exchange'' was a reference to when non-options transactions were 
traded on the CBOE. The CBOE deleted its rules related to non-options 
transactions on the Exchange in 2008.\4\ Accordingly, the requirement 
to provide order or position reports for securities traded on the 
Exchange is obsolete.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 58771 (October 10, 
2008), 73 FR 62350 (October 20, 2008) (SR-CBOE-2008-101).
---------------------------------------------------------------------------

    Finally, the proposed rule outlines the form of the order reports 
to be provided by Market-Makers upon request. The proposed rule will 
require that the reports pertaining to orders must include the terms of 
each order, identification of the brokerage firms through which the 
orders were entered, the times of entry or cancellation, the times 
reports of execution were received and, if all or part of the order was 
executed, the quantity and execution price.
    The Exchange believes current Rule 8.9(b) is outdated and 
operationally obsolete. The Exchange does not currently use the daily 
order and position reports from clearing firms. The daily order and 
position reports from clearing firms are no longer needed to conduct 
any routine regulatory surveillances or examinations or fulfill any 
other of the Exchange's regulatory obligations. Any regulatory 
surveillance or examination that previously used the daily order and 
position reports can be operated without the information due to the 
development of effective workarounds. As such, the rule, as currently 
written, presents an undue burden on clearing firms and Market-Makers.

[[Page 25031]]

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act.\5\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \6\ requirements that the rules of an exchange be 
designed to prevent fraudulent and manipulative acts and practices, to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in regulating, clearing, 
settling, processing information with respect to, and facilitating 
transactions in securities, 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. Additionally, 
the Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \7\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
    \7\ Id.
---------------------------------------------------------------------------

    In particular, the Exchange believes the proposed rule change 
removes impediments and perfects the mechanism of a free and open 
market by deleting obsolete rule requirements related to daily order 
and position reports provided to the Exchange by clearing firms. The 
daily order and position reports are no longer needed in the normal 
course of the Exchange fulfilling its regulatory responsibilities. In 
the event order or position information related to Market-Maker 
activity in securities underlying options traded on the exchange is 
needed, the proposed rule provides that Market-Makers must provide 
those reports to the Exchange upon request. The proposed rule also 
perfects the mechanism of a free and open market by listing information 
that should be contained in the reports that are to be provided upon 
request of the Exchange. In addition, the proposed rule change is 
substantially similar to rules of other options exchanges.\8\
---------------------------------------------------------------------------

    \8\ See supra note 1 [sic].
---------------------------------------------------------------------------

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 raises 
neither intermarket nor intermarket competition issues, as it relates 
to the submission of reports to the Exchange for regulatory purposes. 
The proposed rule deletes obsolete rule language. The daily order and 
position reports from clearing firms are no longer needed to conduct 
any routine regulatory surveillances or examinations or fulfill any 
other of the Exchange's regulatory obligations. The proposed rule 
change removes this undue burden on clearing firms and Market-Makers 
and replaces it with a requirement substantially similar to that of 
other options exchanges.\9\ The proposed requirement will apply to 
equally to all Market-Makers on the Exchange.
---------------------------------------------------------------------------

    \9\ Id.
---------------------------------------------------------------------------

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange neither solicited nor received comments on the 
proposed rule change.
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 \10\ and Rule 19b-
4(f)(6) \11\ thereunder. 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.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6)(iii). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the text of the proposed rule change, at least 
five business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission.
---------------------------------------------------------------------------

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-CBOE-2017-042 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-CBOE-2017-042. 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-CBOE-2017-042 and should be 
submitted on or before June 21, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-11149 Filed 5-30-17; 8:45 am]
 BILLING CODE 8011-01-P



                                               25030                        Federal Register / Vol. 82, No. 103 / Wednesday, May 31, 2017 / Notices

                                                 Dated: May 25, 2017.                                   the most significant aspects of such                   request in a form prescribed by the
                                               Brent J. Fields,                                         statements.                                            Exchange. The obligation to provide
                                               Secretary.                                               A. Self-Regulatory Organization’s                      order and position reports will be on the
                                               [FR Doc. 2017–11281 Filed 5–26–17; 11:15 am]             Statement of the Purpose of, and                       individual Market-Makers (as opposed
                                               BILLING CODE 8011–01–P                                   Statutory Basis for, the Proposed Rule                 to the clearing firms) and will only be
                                                                                                        Change                                                 required on an as needed basis.
                                                                                                                                                               Previously, Market-Makers were
                                               SECURITIES AND EXCHANGE                                  1. Purpose                                             responsible for reporting order
                                               COMMISSION                                                  CBOE Rule 8.9(b) currently provides                 information, when requested by the
                                                                                                        that:                                                  Exchange, if the clearing firm did not
                                               [Release No. 34–80760; File No. SR–CBOE–                    ‘‘In a manner prescribed by the                     report on an executed order.
                                               2017–042]                                                Exchange, with respect to transactions
                                                                                                                                                                  The proposed rule is also eliminating
                                                                                                        to be cleared into all accounts carried
                                               Self-Regulatory Organizations;                                                                                  any requirement that either a Market-
                                                                                                        for Market-Makers who are the subject
                                               Chicago Board Options Exchange,                          of a clearing firm Letter of Guarantee                 Maker or clearing firm provide order or
                                               Incorporated; Notice of Filing and                       issued pursuant to [CBOE] Rule 8.5,                    positon reports for securities traded on
                                               Immediate Effectiveness of a Proposed                    each clearing firm shall, on the business              the Exchange. The requirement to
                                               Rule Change Relating to Market-Maker                     day following order entry date, report to              provide order or position reports for
                                               Reports of Executed Orders                               the Exchange every executed order                      securities traded on the Exchange has
                                                                                                        entered by the Market-Maker for the                    been removed completely and this
                                               May 24, 2017.
                                                                                                        purchase or sale of (i) a security                     information will not be required even
                                                  Pursuant to Section 19(b)(1) of the
                                                                                                        underlying options traded on the                       on an as needed basis pursuant to
                                               Securities Exchange Act of 1934 (the
                                                                                                        Exchange or (ii) a security convertible                proposed Rule 8.9(b). ‘‘Securities traded
                                               ‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                               notice is hereby given that on May 15,                   into or exchangeable for such                          on the Exchange’’ was a reference to
                                               2017, Chicago Board Options Exchange,                    underlying security or (iii) a security                when non-options transactions were
                                               Incorporated (the ‘‘Exchange’’ or                        traded on the Exchange (including, with                traded on the CBOE. The CBOE deleted
                                               ‘‘CBOE’’) filed with the Securities and                  respect to multiply listed securities,                 its rules related to non-options
                                               Exchange Commission (the                                 orders sent to another exchange), as well              transactions on the Exchange in 2008.4
                                               ‘‘Commission’’) the proposed rule                        as opening and closing positions in all                Accordingly, the requirement to provide
                                               change as described in Items I and II                    such securities held in each such                      order or position reports for securities
                                               below, which Items have been prepared                    account. If the clearing firm does not                 traded on the Exchange is obsolete.
                                               by the Exchange. The Commission is                       report any executed order, upon the
                                                                                                                                                                  Finally, the proposed rule outlines the
                                               publishing this notice to solicit                        request of the Exchange the Market-
                                                                                                                                                               form of the order reports to be provided
                                               comments on the proposed rule change                     Maker who entered the order will be
                                                                                                                                                               by Market-Makers upon request. The
                                               from interested persons.                                 responsible for reporting the order
                                                                                                        information.’’                                         proposed rule will require that the
                                               I. Self-Regulatory Organization’s                           The Exchange is deleting this rule and              reports pertaining to orders must
                                               Statement of the Terms of Substance of                   replacing it with a rule substantially                 include the terms of each order,
                                               the Proposed Rule Change                                 similar to that of the International                   identification of the brokerage firms
                                                                                                        Securities Exchange, LLC [sic] (‘‘ISE’’);              through which the orders were entered,
                                                 The Exchange proposes to delete and                                                                           the times of entry or cancellation, the
                                               amend outdated rule language                             ISE Gemini, LLC [sic] (‘‘ISE Gemini’’);
                                                                                                        BATS Options Market (‘‘BZX’’); BOX                     times reports of execution were received
                                               contained in Rule 8.9(b) related to
                                                                                                        Options Exchange, LLC (‘‘BOX’’);                       and, if all or part of the order was
                                               Market-Maker reports of executed
                                                                                                        NASDAQ Options Market (‘‘NOM’’);                       executed, the quantity and execution
                                               orders. The text of the proposed rule
                                                                                                        and NASDAQ OMX BX, Inc. (‘‘BX’’).3                     price.
                                               change is available on the Exchange’s
                                               Web site (http://www.cboe.com/About                         The proposed rule change will result                   The Exchange believes current Rule
                                               CBOE/CBOELegalRegulatory                                 in some specific changes. First of all,                8.9(b) is outdated and operationally
                                               Home.aspx), at the Exchange’s Office of                  Clearing Firms holding accounts for                    obsolete. The Exchange does not
                                               the Secretary, and at the Commission’s                   Market-Makers subject to a clearing firm               currently use the daily order and
                                               Public Reference Room.                                   letter of guarantee will no longer be                  position reports from clearing firms. The
                                                                                                        required to submit daily reports of                    daily order and position reports from
                                               II. Self-Regulatory Organization’s                       orders entered by those Market-Maker                   clearing firms are no longer needed to
                                               Statement of the Purpose of, and                         accounts. In addition they will not be                 conduct any routine regulatory
                                               Statutory Basis for, the Proposed Rule                   required to submit daily position                      surveillances or examinations or fulfill
                                               Change                                                   reports. Instead, the proposed rule will
                                                                                                                                                               any other of the Exchange’s regulatory
                                                 In its filing with the Commission, the                 provide that orders, entered by Market-
                                                                                                                                                               obligations. Any regulatory surveillance
                                               Exchange included statements                             Makers for the purchase of (i) a security
                                                                                                                                                               or examination that previously used the
                                               concerning the purpose of and basis for                  underlying options traded on the
                                                                                                                                                               daily order and position reports can be
                                               the proposed rule change and discussed                   Exchange, or (ii) a security convertible
                                                                                                                                                               operated without the information due to
                                               any comments it received on the                          into or exchangeable for such
                                                                                                        underlying security, as well as opening                the development of effective
                                               proposed rule change. The text of these                                                                         workarounds. As such, the rule, as
nlaroche on DSK30NT082PROD with NOTICES




                                               statements may be examined at the                        and closing positions in all such
                                                                                                        securities shall be provided to the                    currently written, presents an undue
                                               places specified in Item IV below. The                                                                          burden on clearing firms and Market-
                                               Exchange has prepared summaries, set                     Exchange by Market-Makers upon
                                                                                                                                                               Makers.
                                               forth in sections A, B, and C below, of                    3 See ISE Rule 807(b); ISE Gemini Rule 807(b);

                                                                                                        BZX Rule 22.7(b); BOX Rule 8060(b), NOM Rules            4 See Securities Exchange Act Release No. 58771
                                                 1 15 U.S.C. 78s(b)(1).                                 Chapter 7, Section 7(b); BX Rules Chapter 7, Section   (October 10, 2008), 73 FR 62350 (October 20, 2008)
                                                 2 17 CFR 240.19b–4.                                    7(b).                                                  (SR–CBOE–2008–101).



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                                                                                Federal Register / Vol. 82, No. 103 / Wednesday, May 31, 2017 / Notices                                                    25031

                                               2. Statutory Basis                                          proposed rule raises neither intermarket                Electronic Comments
                                                  The Exchange believes the proposed                       nor intermarket competition issues, as it
                                                                                                           relates to the submission of reports to                   • Use the Commission’s Internet
                                               rule change is consistent with the                                                                                  comment form (http://www.sec.gov/
                                               Securities Exchange Act of 1934 (the                        the Exchange for regulatory purposes.
                                                                                                           The proposed rule deletes obsolete rule                 rules/sro.shtml); or
                                               ‘‘Act’’) and the rules and regulations
                                               thereunder applicable to the Exchange                       language. The daily order and position                    • Send an email to rule-comments@
                                               and, in particular, the requirements of                     reports from clearing firms are no longer               sec.gov. Please include File Number SR–
                                               Section 6(b) of the Act.5 Specifically,                     needed to conduct any routine                           CBOE–2017–042 on the subject line.
                                               the Exchange believes the proposed rule                     regulatory surveillances or examinations
                                                                                                           or fulfill any other of the Exchange’s                  Paper Comments
                                               change is consistent with the Section
                                               6(b)(5) 6 requirements that the rules of                    regulatory obligations. The proposed
                                                                                                                                                                     • Send paper comments in triplicate
                                               an exchange be designed to prevent                          rule change removes this undue burden
                                                                                                                                                                   to Secretary, Securities and Exchange
                                               fraudulent and manipulative acts and                        on clearing firms and Market-Makers
                                                                                                           and replaces it with a requirement                      Commission, 100 F Street NE.,
                                               practices, to promote just and equitable                                                                            Washington, DC 20549–1090.
                                               principles of trade, to foster cooperation                  substantially similar to that of other
                                               and coordination with persons engaged                       options exchanges.9 The proposed                        All submissions should refer to File
                                               in regulating, clearing, settling,                          requirement will apply to equally to all                Number SR–CBOE–2017–042. This file
                                               processing information with respect to,                     Market-Makers on the Exchange.                          number should be included on the
                                               and facilitating transactions in                            C. Self-Regulatory Organization’s                       subject line if email is used. To help the
                                               securities, to remove impediments to                        Statement on Comments on the                            Commission process and review your
                                               and perfect the mechanism of a free and                     Proposed Rule Change Received From                      comments more efficiently, please use
                                               open market and a national market                           Members, Participants, or Others                        only one method. The Commission will
                                               system, and, in general, to protect                                                                                 post all comments on the Commission’s
                                               investors and the public interest.                            The Exchange neither solicited nor                    Internet Web site (http://www.sec.gov/
                                               Additionally, the Exchange believes the                     received comments on the proposed                       rules/sro.shtml). Copies of the
                                               proposed rule change is consistent with                     rule change.                                            submission, all subsequent
                                               the Section 6(b)(5) 7 requirement that
                                                                                                           III. Date of Effectiveness of the Proposed              amendments, all written statements
                                               the rules of an exchange not be designed
                                               to permit unfair discrimination between                     Rule Change and Timing for                              with respect to the proposed rule
                                               customers, issuers, brokers, or dealers.                    Commission Action                                       change that are filed with the
                                                  In particular, the Exchange believes                                                                             Commission, and all written
                                                                                                              Because the foregoing proposed rule                  communications relating to the
                                               the proposed rule change removes
                                                                                                           change does not: (i) Significantly affect               proposed rule change between the
                                               impediments and perfects the
                                                                                                           the protection of investors or the public               Commission and any person, other than
                                               mechanism of a free and open market by
                                                                                                           interest; (ii) impose any significant                   those that may be withheld from the
                                               deleting obsolete rule requirements
                                               related to daily order and position                         burden on competition; and (iii) become                 public in accordance with the
                                               reports provided to the Exchange by                         operative for 30 days from the date on
                                                                                                                                                                   provisions of 5 U.S.C. 552, will be
                                               clearing firms. The daily order and                         which it was filed, or such shorter time
                                                                                                                                                                   available for Web site viewing and
                                               position reports are no longer needed in                    as the Commission may designate, it has
                                                                                                           become effective pursuant to Section                    printing in the Commission’s Public
                                               the normal course of the Exchange                                                                                   Reference Room, 100 F Street NE.,
                                               fulfilling its regulatory responsibilities.                 19(b)(3)(A) of the Act 10 and Rule 19b–
                                                                                                           4(f)(6) 11 thereunder. At any time within               Washington, DC 20549 on official
                                               In the event order or position                                                                                      business days between the hours of
                                               information related to Market-Maker                         60 days of the filing of the proposed rule
                                                                                                           change, the Commission summarily may                    10:00 a.m. and 3:00 p.m. Copies of the
                                               activity in securities underlying options                                                                           filing also will be available for
                                               traded on the exchange is needed, the                       temporarily suspend such rule change if
                                                                                                           it appears to the Commission that such                  inspection and copying at the principal
                                               proposed rule provides that Market-
                                                                                                           action is necessary or appropriate in the               office of the Exchange. All comments
                                               Makers must provide those reports to
                                               the Exchange upon request. The                              public interest, for the protection of                  received will be posted without change;
                                               proposed rule also perfects the                             investors, or otherwise in furtherance of               the Commission does not edit personal
                                               mechanism of a free and open market by                      the purposes of the Act.                                identifying information from
                                               listing information that should be                                                                                  submissions. You should submit only
                                                                                                           IV. Solicitation of Comments
                                               contained in the reports that are to be                                                                             information that you wish to make
                                               provided upon request of the Exchange.                        Interested persons are invited to                     available publicly. All submissions
                                               In addition, the proposed rule change is                    submit written data, views, and                         should refer to File Number SR–CBOE–
                                               substantially similar to rules of other                     arguments concerning the foregoing,                     2017–042 and should be submitted on
                                               options exchanges.8                                         including whether the proposed rule                     or before June 21, 2017.
                                                                                                           change is consistent with the Act.                        For the Commission, by the Division of
                                               B. Self-Regulatory Organization’s
                                                                                                           Comments may be submitted by any of                     Trading and Markets, pursuant to delegated
                                               Statement on Burden on Competition
                                                                                                           the following methods:                                  authority.12
                                                 The Exchange does not believe that
                                               the proposed rule change will impose                                                                                Eduardo A. Aleman,
                                                                                                             9 Id.

                                               any burden on competition not                                                                                       Assistant Secretary.
nlaroche on DSK30NT082PROD with NOTICES




                                                                                                             10 15  U.S.C. 78s(b)(3)(A).
                                               necessary or appropriate in furtherance                       11 17  CFR 240.19b–4(f)(6)(iii). As required under    [FR Doc. 2017–11149 Filed 5–30–17; 8:45 am]
                                               of the purposes of the Act. The                             Rule 19b–4(f)(6)(iii), the Exchange provided the        BILLING CODE 8011–01–P
                                                                                                           Commission with written notice of its intent to file
                                                 5 15
                                                                                                           the proposed rule change, along with a brief
                                                         U.S.C. 78f(b).                                    description and the text of the proposed rule
                                                 6 15    U.S.C. 78f(b)(5).                                 change, at least five business days prior to the date
                                                 7 Id.
                                                                                                           of filing of the proposed rule change, or such
                                                 8 See    supra note 1 [sic].                              shorter time as designated by the Commission.             12 17   CFR 200.30–3(a)(12).



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Document Created: 2017-05-31 05:59:38
Document Modified: 2017-05-31 05:59:38
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 25030 

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