82 FR 33529 - Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove Outdated Language in the Exchange's Rulebook and Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 138 (July 20, 2017)

Page Range		33529-33530
FR Document		2017-15192
Federal Register, Volume 82 Issue 138 (Thursday, July 20, 2017)
[Federal Register Volume 82, Number 138 (Thursday, July 20, 2017)]
[Notices]
[Pages 33529-33530]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-15192]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81147; File No. SR-GEMX-2017-30]


Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Remove Outdated 
Language in the Exchange's Rulebook and Fee Schedule

July 14, 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 July 5, 2017, Nasdaq GEMX, LLC (``GEMX'' or ``Exchange'') filed with 
the Securities and Exchange Commission (``Commission'') the proposed 
rule change as described in Items I, II, and III, below, which Items 
have been prepared by the Exchange. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to remove outdated rule text from GEMX's 
Rulebook and Fee Schedule.
    The text of the proposed rule change is available on the Exchange's 
Web site at www.ise.com, at the principal office of the Exchange, and 
at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to remove certain rule text in the GEMX 
Rulebook and Fee Schedule which reflects certain dates which are no 
longer applicable. The Exchange proposes to remove the proposed 
outdated rule text to avoid confusion in the Rulebook and Fee Schedule. 
Each change is discussed below.
    The Exchange proposes to remove text from GEMX Rule 716, entitled 
``Block Trades.'' Specifically, the Exchange proposes to remove the 
following rule text, ``The Block Order Mechanism in Rule 716(c) will 
not be available on a date prior to February 27, 2017, the date to be 
announced in a separate Market Information Circular. The Exchange will 
recommence the Block Order Mechanism on Nasdaq GEMX prior to June 1, 
2017, the date to be announced in a separate Market Information 
Circular.'' This rule text was added at the time the Exchange proposed 
to delay this functionality.\3\ The Exchange recommenced the Block 
Order Mechanism on May 30, 2017.\4\ The text is no longer applicable.
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    \3\ See Securities Exchange Act Release No. 80101 (February 24, 
2017), 82 FR 12380 (March 2, 2017) (SR-ISEGemini-2017-05).
    \4\ See Options Trader Alert #2017-38.
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    The Exchange proposes to remove the following outdated sentences in 
Sections I and II of the Fee Schedule:
     There will be no fees or rebates for trades in options 
overlying Symbol CPN executed on February 27-28, 2017.\5\
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    \5\ This rule text was added to the Fee Schedule in connection 
with a pricing change. See Securities Exchange Act Release No. 80184 
(March 9, 2017), 82 FR 13893 (March 15, 2017) (SR-ISEGemini-2017-
09).
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     For March 2017 only, all Qualifying Tier Threshold ADV 
calculations will be based on the better of (1) the member's full month 
ADV for the period of March 1-31, 2017, or (2) the member's ADV for the 
period of March 1-24, 2017.\6\
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    \6\ Id.
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     Volume executed in options overlying Symbol CPN on 
February 27-28, 2017 will not be counted towards a member's tier for 
February activity.\7\
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    \7\ Id.
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    The operative dates for the pricing noted above has expired. The 
Exchange desires to remove the outdated text from its Fee Schedule to 
avoid confusion.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b)

[[Page 33530]]

of the Act,\8\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\9\ in particular, in that it is designed to promote 
just and equitable principles of trade, to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and, in general to protect investors and the public interest, 
by removing outdated text in the Exchange's Rulebook and Fee Schedule 
which applied at one point in time and is no longer applicable. 
Removing the outdated text will avoid confusion as to its 
applicability.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. The Exchange's proposal to 
remove the outdated text does not impose an undue burden on competition 
because the specified text does not apply to any market participant.

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 \10\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\11\
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    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 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.
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is: (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-GEMX-2017-30 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-GEMX-2017-30. 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-GEMX-2017-30 and should be 
submitted on or before August 10, 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).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2017-15192 Filed 7-19-17; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 82, No. 138 / Thursday, July 20, 2017 / Notices 33529

IV. Solicitation of Comments For the Commission, by the Division of A. Self-Regulatory Organization’s
Trading and Markets, pursuant to delegated Statement of the Purpose of, and
Interested persons are invited to authority.16 Statutory Basis for, the Proposed Rule
submit written data, views, and Jill M. Peterson, Change
arguments concerning the foregoing, Assistant Secretary.
including whether the proposed rule 1. Purpose
[FR Doc. 2017–15189 Filed 7–19–17; 8:45 am]
change is consistent with the Act. BILLING CODE 8011–01–P The Exchange proposes to remove
Comments may be submitted by any of certain rule text in the GEMX Rulebook
the following methods: and Fee Schedule which reflects certain
SECURITIES AND EXCHANGE dates which are no longer applicable.
Electronic Comments COMMISSION The Exchange proposes to remove the
• Use the Commission’s Internet proposed outdated rule text to avoid
[Release No. 34–81147; File No. SR–GEMX–
comment form (http://www.sec.gov/ 2017–30] confusion in the Rulebook and Fee
rules/sro.shtml); or Schedule. Each change is discussed
Self-Regulatory Organizations; Nasdaq below.
• Send an email to rule-comments@ GEMX, LLC; Notice of Filing and The Exchange proposes to remove text
sec.gov. Please include File Number SR– Immediate Effectiveness of Proposed from GEMX Rule 716, entitled ‘‘Block
ISE–2017–69 on the subject line. Rule Change To Remove Outdated Trades.’’ Specifically, the Exchange
Paper Comments Language in the Exchange’s Rulebook proposes to remove the following rule
and Fee Schedule text, ‘‘The Block Order Mechanism in
• Send paper comments in triplicate Rule 716(c) will not be available on a
July 14, 2017. date prior to February 27, 2017, the date
to Secretary, Securities and Exchange
Commission, 100 F Street NE., Pursuant to Section 19(b)(1) of the to be announced in a separate Market
Washington, DC 20549–1090. Securities Exchange Act of 1934 Information Circular. The Exchange will
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 recommence the Block Order
All submissions should refer to File notice is hereby given that on July 5, Mechanism on Nasdaq GEMX prior to
Number SR–ISE–2017–69. This file 2017, Nasdaq GEMX, LLC (‘‘GEMX’’ or June 1, 2017, the date to be announced
number should be included on the ‘‘Exchange’’) filed with the Securities in a separate Market Information
subject line if email is used. To help the and Exchange Commission Circular.’’ This rule text was added at
Commission process and review your (‘‘Commission’’) the proposed rule the time the Exchange proposed to delay
comments more efficiently, please use change as described in Items I, II, and this functionality.3 The Exchange
only one method. The Commission will III, below, which Items have been recommenced the Block Order
post all comments on the Commission’s prepared by the Exchange. The Mechanism on May 30, 2017.4 The text
Internet Web site (http://www.sec.gov/ Commission is publishing this notice to is no longer applicable.
rules/sro.shtml). Copies of the solicit comments on the proposed rule The Exchange proposes to remove the
submission, all subsequent change from interested persons. following outdated sentences in
amendments, all written statements I. Self-Regulatory Organization’s Sections I and II of the Fee Schedule:
with respect to the proposed rule Statement of the Terms of Substance of • There will be no fees or rebates for
change that are filed with the the Proposed Rule Change trades in options overlying Symbol CPN
Commission, and all written executed on February 27–28, 2017.5
The Exchange proposes to remove • For March 2017 only, all Qualifying
communications relating to the outdated rule text from GEMX’s
proposed rule change between the Tier Threshold ADV calculations will be
Rulebook and Fee Schedule. based on the better of (1) the member’s
Commission and any person, other than The text of the proposed rule change full month ADV for the period of March
those that may be withheld from the is available on the Exchange’s Web site 1–31, 2017, or (2) the member’s ADV for
public in accordance with the at www.ise.com, at the principal office the period of March 1–24, 2017.6
provisions of 5 U.S.C. 552, will be of the Exchange, and at the • Volume executed in options
available for Web site viewing and Commission’s Public Reference Room. overlying Symbol CPN on February 27–
printing in the Commission’s Public 28, 2017 will not be counted towards a
II. Self-Regulatory Organization’s
Reference Room, 100 F Street NE., member’s tier for February activity.7
Statement of the Purpose of, and
Washington, DC 20549, on official Statutory Basis for, the Proposed Rule The operative dates for the pricing
business days between the hours of Change noted above has expired. The Exchange
10:00 a.m. and 3:00 p.m. Copies of the desires to remove the outdated text from
filing also will be available for In its filing with the Commission, the
its Fee Schedule to avoid confusion.
inspection and copying at the principal Exchange included statements
concerning the purpose of and basis for 2. Statutory Basis
office of the Exchange. All comments
received will be posted without change; the proposed rule change and discussed The Exchange believes that its
any comments it received on the proposal is consistent with Section 6(b)
the Commission does not edit personal
proposed rule change. The text of these
identifying information from
statements may be examined at the 3 See Securities Exchange Act Release No. 80101
submissions. You should submit only
asabaliauskas on DSKBBXCHB2PROD with NOTICES

places specified in Item IV below. The (February 24, 2017), 82 FR 12380 (March 2, 2017)
information that you wish to make Exchange has prepared summaries, set (SR–ISEGemini–2017–05).
available publicly. All submissions forth in sections A, B, and C below, of 4 See Options Trader Alert #2017–38.

should refer to File Number SR–ISE– the most significant aspects of such 5 This rule text was added to the Fee Schedule in

2017–69 and should be submitted on or connection with a pricing change. See Securities
statements. Exchange Act Release No. 80184 (March 9, 2017),
before August 10, 2017. 82 FR 13893 (March 15, 2017) (SR–ISEGemini–
16 17 CFR 200.30–3(a)(12). 2017–09).
1 15 U.S.C. 78s(b)(1). 6 Id.
2 17 CFR 240.19b–4. 7 Id.

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33530 Federal Register / Vol. 82, No. 138 / Thursday, July 20, 2017 / Notices

of the Act,8 in general, and furthers the furtherance of the purposes of the Act. For the Commission, by the Division of
objectives of Section 6(b)(5) of the Act,9 If the Commission takes such action, the Trading and Markets, pursuant to delegated
in particular, in that it is designed to Commission shall institute proceedings authority.12
promote just and equitable principles of to determine whether the proposed rule Jill M. Peterson,
trade, to remove impediments to and should be approved or disapproved. Assistant Secretary.
perfect the mechanism of a free and [FR Doc. 2017–15192 Filed 7–19–17; 8:45 am]
open market and a national market IV. Solicitation of Comments
BILLING CODE 8011–01–P
system, and, in general to protect Interested persons are invited to
investors and the public interest, by submit written data, views, and
removing outdated text in the arguments concerning the foregoing, SECURITIES AND EXCHANGE
Exchange’s Rulebook and Fee Schedule including whether the proposed rule COMMISSION
which applied at one point in time and change is consistent with the Act.
is no longer applicable. Removing the Comments may be submitted by any of [Release No. 34–81148; File No. SR–ISE–
outdated text will avoid confusion as to the following methods: 2017–67]
its applicability.
Electronic Comments Self-Regulatory Organizations; Nasdaq
B. Self-Regulatory Organization’s
• Use the Commission’s Internet ISE, LLC; Notice of Filing and
Statement on Burden on Competition
comment form (http://www.sec.gov/ Immediate Effectiveness of Proposed
The Exchange does not believe that Rule Change to Re-Letter Rulebook
the proposed rule change will impose rules/sro.shtml); or
Definition
any burden on competition not • Send an email to rule-comments@
necessary or appropriate in furtherance sec.gov. Please include File Number SR– July 14, 2017.
of the purposes of the Act. The GEMX–2017–30 on the subject line. Pursuant to Section 19(b)(1) of the
Exchange’s proposal to remove the Paper Comments Securities Exchange Act of 1934
outdated text does not impose an undue (‘‘Act’’),1 and Rule 19b–4 thereunder,2
burden on competition because the • Send paper comments in triplicate notice is hereby given that on July 5,
specified text does not apply to any to Secretary, Securities and Exchange 2017, Nasdaq ISE, LLC (‘‘ISE’’ or
market participant. Commission, 100 F Street NE., ‘‘Exchange’’) filed with the Securities
Washington, DC 20549–1090. and Exchange Commission
C. Self-Regulatory Organization’s
Statement on Comments on the All submissions should refer to File (‘‘Commission’’) the proposed rule
Proposed Rule Change Received From Number SR–GEMX–2017–30. This file change as described in Items I, II, and
Members, Participants, or Others number should be included on the III, below, which Items have been
subject line if email is used. To help the prepared by the Exchange. The
No written comments were either
Commission process and review your Commission is publishing this notice to
solicited or received.
comments more efficiently, please use solicit comments on the proposed rule
III. Date of Effectiveness of the only one method. The Commission will change from interested persons.
Proposed Rule Change and Timing for post all comments on the Commission’s I. Self-Regulatory Organization’s
Commission Action Internet Web site (http://www.sec.gov/ Statement of the Terms of Substance of
Because the foregoing proposed rule rules/sro.shtml). Copies of the the Proposed Rule Change
change does not: (i) Significantly affect submission, all subsequent
the protection of investors or the public amendments, all written statements The Exchange proposes to correct a
interest; (ii) impose any significant with respect to the proposed rule lettering issue with the ISE Rulebook.
burden on competition; and (iii) become change that are filed with the The text of the proposed rule change
operative for 30 days from the date on Commission, and all written is available on the Exchange’s Web site
which it was filed, or such shorter time communications relating to the at www.ise.com, at the principal office
as the Commission may designate, it has proposed rule change between the of the Exchange, and at the
become effective pursuant to Section Commission and any person, other than Commission’s Public Reference Room.
19(b)(3)(A)(iii) of the Act 10 and those that may be withheld from the
subparagraph (f)(6) of Rule 19b–4 public in accordance with the II. Self-Regulatory Organization’s
thereunder.11 provisions of 5 U.S.C. 552, will be Statement of the Purpose of, and
At any time within 60 days of the available for Web site viewing and Statutory Basis for, the Proposed Rule
filing of the proposed rule change, the printing in the Commission’s Public Change
Commission summarily may Reference Room, 100 F Street NE., In its filing with the Commission, the
temporarily suspend such rule change if Washington, DC 20549, on official Exchange included statements
it appears to the Commission that such business days between the hours of concerning the purpose of and basis for
action is: (i) Necessary or appropriate in 10:00 a.m. and 3:00 p.m. Copies of the the proposed rule change and discussed
the public interest; (ii) for the protection filing also will be available for any comments it received on the
of investors; or (iii) otherwise in inspection and copying at the principal proposed rule change. The text of these
office of the Exchange. All comments statements may be examined at the
8 15 U.S.C. 78f(b). received will be posted without change;
asabaliauskas on DSKBBXCHB2PROD with NOTICES

9 15
places specified in Item IV below. The
U.S.C. 78f(b)(5). the Commission does not edit personal
10 15 U.S.C. 78s(b)(3)(A)(iii). Exchange has prepared summaries, set
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
identifying information from forth in sections A, B, and C below, of
4(f)(6) requires a self-regulatory organization to give
submissions. You should submit only the most significant aspects of such
the Commission written notice of its intent to file information that you wish to make statements.
the proposed rule change at least five business days available publicly. All submissions
prior to the date of filing of the proposed rule should refer to File Number SR–GEMX– 12 17 CFR 200.30–3(a)(12).
change, or such shorter time as designated by the
Commission. The Exchange has satisfied this
2017–30 and should be submitted on or 1 15 U.S.C. 78s(b)(1).
requirement. before August 10, 2017. 2 17 CFR 240.19b–4.

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Document Created: 2017-07-20 06:57:52
Document Modified: 2017-07-20 06:57:52
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 33529