82 FR 39639 - Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 925 To Create a Limited Exception to the Exchange's Procedures To Designate an Inactive Nominee as an Effective Permit Holder Intra-Day and Make a Non-Substantive Change to the Pricing Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 160 (August 21, 2017)
Federal Register Volume 82, Issue 160 (August 21, 2017)
| Page Range | 39639-39641 | |
| FR Document | 2017-17548 |
[Federal Register Volume 82, Number 160 (Monday, August 21, 2017)] [Notices] [Pages 39639-39641] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-17548] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81401; File No. SR-Phlx-2017-68] Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 925 To Create a Limited Exception to the Exchange's Procedures To Designate an Inactive Nominee as an Effective Permit Holder Intra-Day and Make a Non-Substantive Change to the Pricing Schedule August 15, 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 August 7, 2017 NASDAQ PHLX LLC (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``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. --------------------------------------------------------------------------- \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 (i) amend Rule 925 to create a limited exception to the Exchange's existing procedures to designate an Inactive Nominee as an effective permit holder and (ii) make a non- substantive change to its Pricing Schedule related to the fees assessed to Inactive Nominees. 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 The purpose of the proposed rule change is to (i) amend Rule 925 to create a limited exception to the Exchange's existing procedures to designate an Inactive Nominee \3\ as an effective permit holder and (ii) make a non-substantive change to its Pricing Schedule related to the fees assessed to Inactive Nominees. --------------------------------------------------------------------------- \3\ The term ``inactive nominee'' shall mean a natural person associated with and designated as such by a member organization and who has been approved for such status and is registered as such with the Membership Department. An inactive nominee shall have no rights or privileges under a permit unless and until said inactive nominee becomes admitted as a member of the Exchange pursuant to the By-Laws and Rules of the Exchange. An inactive nominee merely stands ready to exercise rights under a permit upon notice by the member organization to the Membership Department on an expedited basis. See Rule 1(l). --------------------------------------------------------------------------- Rule 925 Today, the Exchange allows members on the Exchange's trading floor to designate an ``Inactive Nominee'' pursuant to Rule 925. Rule 925(i) requires, among other criteria, that an individual must be approved as eligible to hold a permit in accordance with the Exchange's By-Laws and Rules in order to be eligible for Inactive Nominee status. Additionally, the member organization with whom an Inactive Nominee is affiliated must pay an Inactive Nominee Fee for the privilege of maintaining the Inactive Nominee status.\4\ Furthermore, the Rule stipulates that an Inactive Nominee does not have any rights or privileges of a permit holder unless and until the Inactive Nominee becomes an effective permit holder and all applicable Exchange fees are paid. --------------------------------------------------------------------------- \4\ The Exchange currently charges an Inactive Nominee Fee of $600 for a six month period, which will be assessed to the member organization at a rate of $100 per month for the applicable six month period unless the member organization provides proper notice of its intent to terminate an inactive nominee prior to the first day of the next billing month. An inactive nominee's status expires after six months unless it has been reaffirmed in writing by the member organization or is sooner terminated. A member organization will be assessed the Inactive Nominee Fee every time the status is reaffirmed. See the Exchange's Pricing Schedule at: http://nasdaqphlx.cchwallstreet.com/NASDAQPHLXTools/PlatformViewer.asp?selectednode=chp_1_4_10&manual=%2Fnasdaqomxphlx%2Fphlx%2Fphlx-rulesbrd%2F. --------------------------------------------------------------------------- When a member organization desires to designate an Inactive Nominee as an effective permit holder, Rule 925(ii)(a) states that the member organization is required to notify the Exchange's [[Page 39640]] Membership Department, in writing, prior to the opening of trading on any business day the name of such Inactive Nominee. Further, the notice must identify the name of the permit holder that the Inactive Nominee will be acting on behalf of as well as the expected duration that such Inactive Nominee will remain activated.\5\ --------------------------------------------------------------------------- \5\ Inactive Nominees are essentially a pool of eligible individuals who can substitute for traders on the Exchange trading floor. The Inactive Nominee allows a member to have flexibility in obtaining coverage on the trading floor. An Inactive Nominee stands ready to assume a membership upon notice by the member requesting that a specific permit be transferred intra-firm on an expedited and temporary basis. This transfer allows an Inactive Nominee to become an effective member of the Exchange. For example, an Inactive Nominee might serve on behalf of a trader who needs to take leave for surgery, or could serve when a trader takes vacation leave. This allows a member organization to have full staff available to conduct business on the Exchange trading floor. --------------------------------------------------------------------------- The Exchange now proposes to create a limited exception to the Exchange's existing procedures to designate an Inactive Nominee as an effective permit holder. In particular, the Exchange proposes to adopt a new provision at Rule 925(ii)(b) to permit member organizations to designate an Inactive Nominee intra-day in the event of an unforeseen emergency,\6\ provided that such intra-day designations must be approved by the Exchange's Chief Regulatory Officer (``CRO'') or his/ her designee prior to such Inactive Nominee becoming an effective permit holder. Other than to reduce the time period and to require prior approval of the CRO or his/her designee in the manner described above, the Exchange is not proposing any other changes to its existing procedures to designate an Inactive Nominee as an effective permit holder. Therefore, if a member organization seeks to obtain coverage on the trading floor intra-day due to unforeseen circumstances such as sudden illness, the proposed rule would still require the member organization to notify the Membership Department, in writing, of its desire to designate an Inactive Nominee as an effective permit holder intra-day. The notice must contain all of the information required under paragraph (ii)(a) (i.e., the name of such Inactive Nominee, the name of the permit holder that the Inactive Nominee will be acting on behalf of, and the expected duration that such Inactive Nominee will remain activated). Finally, the CRO or his/her designee must approve the member organization's intra-day designation in order for the Inactive Nominee to become an effective permit holder. --------------------------------------------------------------------------- \6\ Such circumstances include sudden illness, family emergencies or other unavoidable factors. --------------------------------------------------------------------------- The Exchange believes that the proposed rule change is reasonable and would serve to enhance the application of Rule 925 by allowing members to quickly obtain coverage on the trading floor in limited cases where an unforeseen emergency arises intra-day, therefore making it impossible for a member to notify the Membership Department within the required time period under the current Rule. While these extraordinary circumstances rarely arise, the proposed rule change would give the CRO (or his/her designee in the CRO's absence) the flexibility to approve the intra-day designation so that members are not adversely affected by unforeseen factors that prevented them from notifying the Exchange within the allotted time period. Because each individual on the floor is required to have a permit in order to trade, such emergencies could especially affect members who have small propriety businesses on the Exchange trading floor and therefore rely on these Inactive Nominees as their only substitutes. Similarly, since the time the Exchange adopted rules establishing the Inactive Nominee,\7\ the number of permit holders associated with a member organization on the Exchange trading floor has decreased. For the foregoing reasons, the Exchange seeks to address these extraordinary circumstances and allow its members to obtain coverage in such cases so that they may continue to conduct their businesses efficiently. The Exchange further believes that requiring the CRO's approval of the intra-day designation would serve as a check to ensure that such designations would be made on a limited case-by-case basis. --------------------------------------------------------------------------- \7\ See Securities Exchange Act Release No. 39851 (April 10, 1998), 63 FR 19282 (April 17, 1998) (SR-PHLX-97-35) (order approving rule changes to establish the Inactive Nominee). --------------------------------------------------------------------------- Pricing Schedule The Exchange is also proposing a non-substantive amendment to its Pricing Schedule at Section VI.A relating to the fees assessed to Inactive Nominees. In particular, Section VI.A of the Exchange's Pricing Schedule states that an Inactive Nominee is also assessed the Trading Floor Personnel Registration Fee.\8\ As part of a previous filing, the Exchange renamed this fee as a ``Clerk Fee'' but inadvertently retained the reference to ``Trading Floor Personnel Registration Fee'' in Section VI.A.\9\ The Exchange now proposes to replace the term ``Trading Floor Personnel Registration Fee'' with ``Clerk Fee'' in this section. The Exchange will continue to assess Inactive Nominees the Clerk Fee as it is being assessed today.\10\ --------------------------------------------------------------------------- \8\ This fee is in addition to the Inactive Nominee Fee. See note 4 above. \9\ See Securities Exchange Release No. 66004 (December 19, 2011), 76 FR 80442 (December 23, 2011) (SR-Phlx-2011-155). \10\ Today, an Inactive Nominee is assessed a Clerk Fee of $100 per month. See Section VI.A of the Pricing Schedule at: http://nasdaqphlx.cchwallstreet.com/NASDAQPHLXTools/PlatformViewer.asp?selectednode=chp_1_4_10&manual=%2Fnasdaqomxphlx%2Fphlx%2Fphlx-rulesbrd%2F. --------------------------------------------------------------------------- 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. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b). \12\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- As discussed above, the Exchange believes that the proposed changes will allow members additional flexibility in obtaining coverage on the trading floor. Inactive Nominees are essentially a pool of eligible individuals who can substitute for traders on the Exchange's floor. By allowing members flexibility in obtaining coverage intra-day in limited circumstances as described above, the Exchange believes that the proposal would assist in facilitating the smooth functioning of its market operations, consistent with Section 6(b)(5) of the Act. The Exchange further believes that the proposed changes would allow members to have a prepared roster of substitute traders who are available even in unforeseen emergencies, which should help to facilitate transactions in securities and remove impediments to, and perfect the mechanism of, a free and open market, also consistent with Section 6(b)(5) of the Act. Finally, the Exchange believes it is appropriate to make the non- substantive change in its Pricing Schedule to replace the obsolete reference to ``Trading Floor Personnel Registration Fee'' with ``Clerk Fee'' so that members and investors have a clear and accurate understanding of the Exchange's rules. B. Self-Regulatory Organization's Statement on Burden on Competition Because the purpose of the proposal is to provide members with additional flexibility to obtain coverage intra-day in limited circumstances and to make a non-substantive change as discussed [[Page 39641]] above, 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. 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 \13\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\14\ --------------------------------------------------------------------------- \13\ 15 U.S.C. 78s(b)(3)(A)(iii). \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic 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-2017-68 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-Phlx-2017-68. 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-2017-68 and should be submitted on or before September 11, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-17548 Filed 8-18-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 160 / Monday, August 21, 2017 / Notices 39639
• Send an email to rule-comments@ SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
sec.gov. Please include File Number SR– COMMISSION Statement of the Purpose of, and
ISE–2017–79 on the subject line. Statutory Basis for, the Proposed Rule
[Release No. 34–81401; File No. SR–Phlx–
Change
Paper Comments 2017–68]
1. Purpose
• Send paper comments in triplicate Self-Regulatory Organizations;
The purpose of the proposed rule
to Secretary, Securities and Exchange NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of change is to (i) amend Rule 925 to create
Commission, 100 F Street NE., a limited exception to the Exchange’s
Washington, DC 20549–1090. Proposed Rule Change To Amend Rule
existing procedures to designate an
925 To Create a Limited Exception to
All submissions should refer to File Inactive Nominee 3 as an effective
the Exchange’s Procedures To
Number SR–ISE–2017–79. This file permit holder and (ii) make a non-
Designate an Inactive Nominee as an
number should be included on the substantive change to its Pricing
Effective Permit Holder Intra-Day and
subject line if email is used. To help the Schedule related to the fees assessed to
Make a Non-Substantive Change to the
Inactive Nominees.
Commission process and review your Pricing Schedule
comments more efficiently, please use Rule 925
August 15, 2017.
only one method. The Commission will Today, the Exchange allows members
Pursuant to Section 19(b)(1) of the
post all comments on the Commission’s on the Exchange’s trading floor to
Securities Exchange Act of 1934
Internet Web site (http://www.sec.gov/ designate an ‘‘Inactive Nominee’’
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
rules/sro.shtml). Copies of the notice is hereby given that on August 7, pursuant to Rule 925. Rule 925(i)
submission, all subsequent 2017 NASDAQ PHLX LLC (‘‘Phlx’’ or requires, among other criteria, that an
amendments, all written statements ‘‘Exchange’’) filed with the Securities individual must be approved as eligible
with respect to the proposed rule and Exchange Commission (‘‘SEC’’ or to hold a permit in accordance with the
change that are filed with the ‘‘Commission’’) the proposed rule Exchange’s By-Laws and Rules in order
Commission, and all written change as described in Items I, II, and to be eligible for Inactive Nominee
communications relating to the III, below, which Items have been status. Additionally, the member
proposed rule change between the prepared by the Exchange. The organization with whom an Inactive
Commission and any person, other than Commission is publishing this notice to Nominee is affiliated must pay an
those that may be withheld from the solicit comments on the proposed rule Inactive Nominee Fee for the privilege
public in accordance with the change from interested persons. of maintaining the Inactive Nominee
status.4 Furthermore, the Rule stipulates
provisions of 5 U.S.C. 552, will be
I. Self-Regulatory Organization’s that an Inactive Nominee does not have
available for Web site viewing and Statement of the Terms of Substance of any rights or privileges of a permit
printing in the Commission’s Public the Proposed Rule Change holder unless and until the Inactive
Reference Room, 100 F Street NE., Nominee becomes an effective permit
Washington, DC 20549, on official The Exchange proposes to (i) amend
Rule 925 to create a limited exception holder and all applicable Exchange fees
business days between the hours of are paid.
to the Exchange’s existing procedures to
10:00 a.m. and 3:00 p.m. Copies of the When a member organization desires
designate an Inactive Nominee as an
filing also will be available for to designate an Inactive Nominee as an
effective permit holder and (ii) make a
inspection and copying at the principal effective permit holder, Rule 925(ii)(a)
non-substantive change to its Pricing
office of the Exchange. All comments Schedule related to the fees assessed to states that the member organization is
received will be posted without change; Inactive Nominees. required to notify the Exchange’s
the Commission does not edit personal The text of the proposed rule change 3 The term ‘‘inactive nominee’’ shall mean a
identifying information from is available on the Exchange’s Web site natural person associated with and designated as
submissions. You should submit only at http://nasdaqphlx.cchwallstreet. such by a member organization and who has been
information that you wish to make com/, at the principal office of the approved for such status and is registered as such
available publicly. All submissions Exchange, and at the Commission’s with the Membership Department. An inactive
nominee shall have no rights or privileges under a
should refer to File Number SR–ISE– Public Reference Room. permit unless and until said inactive nominee
2017–79 and should be submitted on or becomes admitted as a member of the Exchange
II. Self-Regulatory Organization’s
before September 11, 2017. pursuant to the By-Laws and Rules of the Exchange.
Statement of the Purpose of, and An inactive nominee merely stands ready to
For the Commission, by the Division of Statutory Basis for, the Proposed Rule exercise rights under a permit upon notice by the
Trading and Markets, pursuant to delegated Change member organization to the Membership
authority.18 Department on an expedited basis. See Rule 1(l).
In its filing with the Commission, the 4 The Exchange currently charges an Inactive
Eduardo A. Aleman, Exchange included statements Nominee Fee of $600 for a six month period, which
Assistant Secretary. concerning the purpose of and basis for will be assessed to the member organization at a
rate of $100 per month for the applicable six month
[FR Doc. 2017–17550 Filed 8–18–17; 8:45 am] the proposed rule change and discussed period unless the member organization provides
BILLING CODE 8011–01–P any comments it received on the proper notice of its intent to terminate an inactive
proposed rule change. The text of these nominee prior to the first day of the next billing
asabaliauskas on DSKBBXCHB2PROD with NOTICES
statements may be examined at the month. An inactive nominee’s status expires after
six months unless it has been reaffirmed in writing
places specified in Item IV below. The by the member organization or is sooner terminated.
Exchange has prepared summaries, set A member organization will be assessed the
forth in sections A, B, and C below, of Inactive Nominee Fee every time the status is
the most significant aspects of such reaffirmed. See the Exchange’s Pricing Schedule at:
http://nasdaqphlx.cchwallstreet.com/
statements. NASDAQPHLXTools/
PlatformViewer.asp?selectednode=chp_1_4_
1 15 U.S.C. 78s(b)(1). 10&manual=%2Fnasda
18 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. qomxphlx%2Fphlx%2Fphlx-rulesbrd%2F.
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![Federal Register / Vol. 82, No. 160 / Monday, August 21, 2017 / Notices 39641
above, the Exchange does not believe Paper Comments SECURITIES AND EXCHANGE
that the proposed rule change will COMMISSION
impose any burden on competition not • Send paper comments in triplicate
necessary or appropriate in furtherance to Secretary, Securities and Exchange
[Release No. 34–81404; File No. SR–
of the purposes of the Act. Commission, 100 F Street NE.,
BatsBZX–2017–52]
Washington, DC 20549–1090.
C. Self-Regulatory Organization’s
Statement on Comments on the All submissions should refer to File Self-Regulatory Organizations; Bats
Proposed Rule Change Received From Number SR–Phlx–2017–68. This file BZX Exchange, Inc.; Notice of Filing
Members, Participants, or Others number should be included on the and Immediate Effectiveness of a
subject line if email is used. To help the Proposed Rule Change to Rule 21.2,
No written comments were either Commission process and review your Days and Hours of Business
solicited or received. comments more efficiently, please use August 15, 2017.
III. Date of Effectiveness of the only one method. The Commission will
Proposed Rule Change and Timing for post all comments on the Commission’s Pursuant to Section 19(b)(1) of the
Commission Action Internet Web site (http://www.sec.gov/ Securities Exchange Act of 1934 (the
rules/sro.shtml). Copies of the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Because the foregoing proposed rule submission, all subsequent notice is hereby given that on August 2,
change does not: (i) Significantly affect amendments, all written statements 2017, Bats BZX Exchange, Inc. (the
the protection of investors or the public with respect to the proposed rule ‘‘Exchange’’ or ‘‘BZX’’) filed with the
interest; (ii) impose any significant Securities and Exchange Commission
change that are filed with the
burden on competition; and (iii) become (the ‘‘Commission’’) the proposed rule
Commission, and all written
operative for 30 days from the date on change as described in Items I and II
communications relating to the
which it was filed, or such shorter time below, which Items have been prepared
proposed rule change between the by the Exchange. The Exchange has
as the Commission may designate, it has
become effective pursuant to Section Commission and any person, other than designated this proposal as a ‘‘non-
19(b)(3)(A)(iii) of the Act 13 and those that may be withheld from the controversial’’ proposed rule change
subparagraph (f)(6) of Rule 19b–4 public in accordance with the pursuant to Section 19(b)(3)(A) of the
thereunder.14 provisions of 5 U.S.C. 552, will be Act 3 and Rule 19b–4(f)(6)(iii)
available for Web site viewing and thereunder,4 which renders it effective
At any time within 60 days of the printing in the Commission’s Public
filing of the proposed rule change, the upon filing with the Commission. The
Reference Room, 100 F Street NE., Commission is publishing this notice to
Commission summarily may
Washington, DC 20549, on official solicit comments on the proposed rule
temporarily suspend such rule change if
it appears to the Commission that such business days between the hours of change from interested persons.
action is: (i) Necessary or appropriate in 10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for I. Self-Regulatory Organization’s
the public interest; (ii) for the protection Statement of the Terms of Substance of
of investors; or (iii) otherwise in inspection and copying at the principal
the Proposed Rule Change
furtherance of the purposes of the Act. office of the Exchange. All comments
If the Commission takes such action, the received will be posted without change; The Exchange filed a proposal to
Commission shall institute proceedings the Commission does not edit personal amend Rule 21.2, Days and Hours of
to determine whether the proposed rule identifying information from Business.
should be approved or disapproved. submissions. You should submit only The text of the proposed rule change
information that you wish to make is available at the Exchange’s Web site
IV. Solicitation of Comments
available publicly. All submissions at www.bats.com, at the principal office
Interested persons are invited to should refer to File Number SR–Phlx– of the Exchange, and at the
submit written data, views, and 2017–68 and should be submitted on or Commission’s Public Reference Room.
arguments concerning the foregoing, before September 11, 2017.
including whether the proposed rule II. Self-Regulatory Organization’s
For the Commission, by the Division of
change is consistent with the Act. Statement of the Purpose of, and
Trading and Markets, pursuant to delegated
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
authority.15
the following methods: Change
Eduardo A. Aleman,
Electronic Comments Assistant Secretary. In its filing with the Commission, the
[FR Doc. 2017–17548 Filed 8–18–17; 8:45 am] Exchange included statements
• Use the Commission’s Internet concerning the purpose of and basis for
BILLING CODE 8011–01–P
comment form (http://www.sec.gov/ the proposed rule change and discussed
rules/sro.shtml); or any comments it received on the
• Send an email to rule-comments@ proposed rule change. The text of these
sec.gov. Please include File Number SR– statements may be examined at the
Phlx–2017–68 on the subject line. places specified in Item IV below. The
asabaliauskas on DSKBBXCHB2PROD with NOTICES
Exchange has prepared summaries, set
13 15 U.S.C. 78s(b)(3)(A)(iii). forth in Sections A, B, and C below, of
14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– the most significant parts of such
4(f)(6) requires a self-regulatory organization to give statements.
the Commission written notice of its intent to file
the proposed rule change at least five business days 1 15
prior to the date of filing of the proposed rule U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
change, or such shorter time as designated by the
3 15 U.S.C. 78s(b)(3)(A).
Commission. The Exchange has satisfied this
requirement. 15 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(6)(iii).
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Document Created: 2017-08-19 00:44:42
Document Modified: 2017-08-19 00:44:42
| Category | Regulatory Information | |
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| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 82 FR 39639 |
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