82 FR 40187 - Securities Exchange Act of 1934; Order Scheduling Filing of Statements on Review in the Matter of the Chicago Stock Exchange, Inc. for an Order Granting the Approval of Proposed Rule Change Regarding the Acquisition of CHX Holdings, Inc. by North America Casin Holdings, Inc. (File No. SR-CHX-2016-20)

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 163 (August 24, 2017)

Page Range		40187-40188
FR Document		2017-17921

Federal Register, Volume 82 Issue 163 (Thursday, August 24, 2017)

[Federal Register Volume 82, Number 163 (Thursday, August 24, 2017)]
[Notices]
[Pages 40187-40188]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-17921]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81435/August 18, 2017]


Securities Exchange Act of 1934; Order Scheduling Filing of 
Statements on Review in the Matter of the Chicago Stock Exchange, Inc. 
for an Order Granting the Approval of Proposed Rule Change Regarding 
the Acquisition of CHX Holdings, Inc. by North America Casin Holdings, 
Inc. (File No. SR-CHX-2016-20)

    On December 2, 2016, the Chicago Stock Exchange, Inc. (``CHX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Exchange Act'')\1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change in connection with the 
acquisition of CHX Holdings, Inc. by North America Casin Holdings, Inc. 
The proposed rule change was published for comment in the Federal 
Register on December 12, 2016.\3\ On January 12, 2017, proceedings were 
instituted under Section 19(b)(2)(B) of the Exchange Act \4\ to 
determine whether to approve or disapprove the proposed rule change.\5\ 
On June 6, 2017, pursuant to Section 19(b)(2) of the Exchange Act,\6\ a 
longer period was designated for Commission action on proceedings to 
determine whether to disapprove the proposed rule change.\7\ On August 
7, 2017, the Exchange filed Amendment No. 1 to the proposed rule 
change.\8\ On August 9, 2017, the Division of Trading and Markets, for 
the Commission pursuant to delegated authority,\9\ approved the 
proposed rule change, as modified by Amendment No. 1.\10\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 79474 (December 6, 
2016), 81 FR 89543.
    \4\ 15 U.S.C. 78s(b)(2)(B).
    \5\ See Securities Exchange Act Release No. 79781, 82 FR 6669 
(January 19, 2017).
    \6\ 15 U.S.C. 78s(b)(2).
    \7\ See Securities Exchange Act Release No. 80864, 82 FR 26966 
(June 12, 2017).
    \8\ See letter from Albert J. Kim, Vice President and Associate 
General Counsel, CHX, dated August 8, 2017, available at: https://www.sec.gov/comments/sr-chx-2016-20/chx201620-2198847-160378.pdf.
    \9\ 17 CFR 200.30 3(a)(12).
    \10\ See Securities Exchange Act Release No. 81366, 82 FR 38734 
(August 15, 2017).
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    Pursuant to Commission Rule of Practice 431,\11\ the Commission is 
reviewing the delegated action and the August 9, 2017 order is stayed.
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    \11\ 17 CFR 201.431.
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    Accordingly, it is ordered, pursuant to Commission Rule of Practice 
431, that by September 17, 2017, any party or

[[Page 40188]]

other person may file any additional statement.
    It is further ordered that the August 9, 2017 order approving the 
proposed rule change, as modified by Amendment No. 1 (File No. SR-CHX-
2016-20), shall remain stayed pending further order of the Commission.

    By the Commission.
Jill M. Peterson,
 Assistant Secretary.
[FR Doc. 2017-17921 Filed 8-23-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / Notices 40187

Exchange Act. Rather, the proposed rule Electronic Comments SECURITIES AND EXCHANGE
change will increase competition for COMMISSION
new listings by enabling companies to • Use the Commission’s Internet
comment form (http://www.sec.gov/ [Release No. 34–81435/August 18, 2017]
list that meet all quantitative
requirements but are currently unable to rules/sro.shtml); or
Securities Exchange Act of 1934;
list because of the methodology required • Send an email to rule-comments@ Order Scheduling Filing of Statements
by the current rules to demonstrate their sec.gov. Please include File Number SR– on Review in the Matter of the Chicago
compliance. NYSE–2017–30 on the subject line. Stock Exchange, Inc. for an Order
As noted above, Nasdaq’s listing rules Granting the Approval of Proposed
Paper Comments
do not include explicit limitations Rule Change Regarding the
applicable to the listing of companies in • Send paper comments in triplicate Acquisition of CHX Holdings, Inc. by
these circumstances. Additionally, to Secretary, Securities and Exchange North America Casin Holdings, Inc.
Nasdaq has listed previously private Commission, 100 F Street NE., (File No. SR–CHX–2016–20)
companies upon effectiveness of a Washington, DC 20549–1090. On December 2, 2016, the Chicago
selling shareholder registration
All submissions should refer to File Stock Exchange, Inc. (‘‘CHX’’ or
statement without a concurrent
Number SR–NYSE–2017–30. This file ‘‘Exchange’’) filed with the Securities
underwritten offering on several
number should be included on the and Exchange Commission
occasions in the past. In light of this
subject line if email is used. To help the (‘‘Commission’’), pursuant to Section
precedent and the absence of any
19(b)(1) of the Securities Exchange Act
Nasdaq rule provision explicitly Commission process and review your
of 1934 (‘‘Exchange Act’’)1 and Rule
limiting the ability of a company to comments more efficiently, please use
19b–4 thereunder,2 a proposed rule
qualify for listing without a public only one method. The Commission will change in connection with the
offering or prior public market price, the post all comments on the Commission’s acquisition of CHX Holdings, Inc. by
Exchange believes that Nasdaq would Internet Web site (http://www.sec.gov/ North America Casin Holdings, Inc. The
take the position that it could also list rules/sro.shtml). Copies of the proposed rule change was published for
a previously private company upon submission, all subsequent comment in the Federal Register on
effectiveness of an Exchange Act amendments, all written statements December 12, 2016.3 On January 12,
registration statement without a with respect to the proposed rule 2017, proceedings were instituted under
concurrent public offering. As such, the change that are filed with the Section 19(b)(2)(B) of the Exchange Act 4
proposed amendment to Footnote (E) to Commission, and all written to determine whether to approve or
Section 102.01B of the Manual would communications relating to the disapprove the proposed rule change.5
increase competition by enabling the
proposed rule change between the On June 6, 2017, pursuant to Section
NYSE to compete with Nasdaq for these
Commission and any person, other than 19(b)(2) of the Exchange Act,6 a longer
listings.
those that may be withheld from the period was designated for Commission
The Exchange does not believe that public in accordance with the action on proceedings to determine
the proposed amendments to its Rule provisions of 5 U.S.C. 552, will be whether to disapprove the proposed
Book will impose any burden on available for Web site viewing and rule change.7 On August 7, 2017, the
competition that is not necessary or printing in the Commission’s Public Exchange filed Amendment No. 1 to the
appropriate in furtherance of the Reference Room, 100 F Street NE., proposed rule change.8 On August 9,
purposes of the Exchange Act. 2017, the Division of Trading and
Washington, DC 20549 on official
Specifically, the Exchange believes that Markets, for the Commission pursuant
business days between the hours of
the changes are not related to to delegated authority,9 approved the
10:00 a.m. and 3:00 p.m. Copies of the
competition, but rather are designed to proposed rule change, as modified by
promote fair and orderly markets in a filing also will be available for
Amendment No. 1.10
manner that is consistent with the inspection and copying at the principal
Pursuant to Commission Rule of
protection of investors and the public office of the Exchange. All comments Practice 431,11 the Commission is
interest. The proposed changes do not received will be posted without change; reviewing the delegated action and the
impact the ability of any market the Commission does not edit personal August 9, 2017 order is stayed.
participant or trading venue to compete. identifying information from Accordingly, it is ordered, pursuant to
submissions. You should submit only Commission Rule of Practice 431, that
C. Self-Regulatory Organization’s information that you wish to make by September 17, 2017, any party or
Statement on Comments on the available publicly. All submissions
Proposed Rule Change Received From should refer to File Number SR–NYSE– 1 15 U.S.C. 78s(b)(1).
Members, Participants, or Others 2017–30 and should be submitted on or 2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 79474
No written comments were solicited beforeSeptember 14, 2017.
(December 6, 2016), 81 FR 89543.
or received with respect to the proposed For the Commission, by the Division of 4 15 U.S.C. 78s(b)(2)(B).

rule change. Trading and Markets, pursuant to delegated 5 See Securities Exchange Act Release No. 79781,

authority.17 82 FR 6669 (January 19, 2017).
III. Solicitation of Comments 6 15 U.S.C. 78s(b)(2).
Robert W. Errett, 7 See Securities Exchange Act Release No. 80864,
Interested persons are invited to Deputy Secretary.
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82 FR 26966 (June 12, 2017).
submit written data, views, and [FR Doc. 2017–17922 Filed 8–23–17; 8:45 am]
8 See letter from Albert J. Kim, Vice President and

arguments concerning the foregoing, BILLING CODE 8011–01–P
Associate General Counsel, CHX, dated August 8,
including whether the proposed rule 2017, available at: https://www.sec.gov/comments/
sr-chx-2016-20/chx201620-2198847-160378.pdf.
change, as modified by Amendment No. 9 17 CFR 200.30 3(a)(12).
2, is consistent with the Act. Comments 10 See Securities Exchange Act Release No. 81366,
may be submitted by any of the 82 FR 38734 (August 15, 2017).
following methods: 17 17 CFR 200.30–3(a)(12). 11 17 CFR 201.431.

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40188 Federal Register / Vol. 82, No. 163 / Thursday, August 24, 2017 / Notices

other person may file any additional forth in sections A, B, and C below, of Width Quote in the remainder of their
statement. the most significant aspects of such assigned series, which did not open
It is further ordered that the August 9, statements. within one minute following the
2017 order approving the proposed rule dissemination of a quote or trade by the
change, as modified by Amendment No. A. Self-Regulatory Organization’s
market for the underlying security or, in
1 (File No. SR–CHX–2016–20), shall Statement of the Purpose of, and
the case of index options, following the
remain stayed pending further order of Statutory Basis for, the Proposed Rule
receipt of the opening price, in the
the Commission. Change
underlying index or, with respect to a
By the Commission. 1. Purpose U.S. dollar-settled foreign currency
Jill M. Peterson, The purpose of this rule change is to option, following the announced market
Assistant Secretary. amend GEMX Rule 701, ‘‘Opening’’ to opening. The Exchange’s proposal is
[FR Doc. 2017–17921 Filed 8–23–17; 8:45 am] specifically amend opening obligations intended to account for market
for Primary Market Makers or ‘‘PMMs.’’ conditions which may prevent a PMM
BILLING CODE 8011–01–P
The Exchange notes that the proposed from opening all assigned series, for
rule change is similar to a Nasdaq MRX, example an extremely volatile market
SECURITIES AND EXCHANGE LLC (‘‘MRX’’) rule.3 which may impact the PMM’s ability to
COMMISSION Today, GEMX Rule 701(c)(3) states enter aggressive quotes. Another
that the PMM assigned in a particular example would be that news pertaining
[Release No. 34–81436; File No. SR–GEMX– to a specific security is causing the
2017–38] equity option must enter a Valid Width
Quote not later than one minute underlying price to fluctuate rapidly
Self-Regulatory Organizations; Nasdaq following the dissemination of a quote and significantly, thereby causing the
GEMX, LLC; Notice of Filing and or trade by the market for the PMM to await the underlying equity
Immediate Effectiveness of Proposed underlying security or, in the case of price to settle before entering a Valid
Rule Change Related to Quoting at the index options, following the receipt of Width Quote. The Exchange’s
Opening the opening price in the underlying surveillance staff would monitor to
index. The PMM assigned in a ensure that PMMs are complying with
August 18, 2017. these requirements during the Opening
particular U.S. dollar-settled foreign
Pursuant to Section 19(b)(1) of the currency option must enter a Valid Process.
Securities Exchange Act of 1934 Width Quote not later than one minute Today, the Opening Process for an
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 after the announced market opening. options series will be conducted on or
notice is hereby given that on August First, the Exchange proposes to add after 9:30 a.m. if the system has
17, 2017, Nasdaq GEMX, LLC (‘‘GEMX’’ the words ‘‘or index’’ to further clarify received, within two minutes (or such
or ‘‘Exchange’’) filed with the Securities that the requirement applies to equities shorter time as determined by the
and Exchange Commission and index options. The Exchange Exchange and disseminated to
(‘‘Commission’’) the proposed rule proposes this addition to further clarify membership on the Exchange’s Web
change as described in Items I and II the requirement in Rule 701(c)(3) clearly site) of the opening trade or quote on the
below, which Items have been prepared market for the underlying security in the
applies to equity and index options.
by the Exchange. The Commission is Second, the Exchange proposes to case of equity options or, in the case of
publishing this notice to solicit modify the PMM’s current obligation to index options, within two minutes of
comments on the proposed rule change enter Valid Width Quotes not later than the receipt of the opening price in the
from interested persons. one minute following the dissemination underlying index (or such shorter time
I. Self-Regulatory Organization’s of a quote or trade by the market for the as determined by the Exchange and
Statement of the Terms of Substance of underlying security or, in the case of disseminated to membership on the
the Proposed Rule Change index options, following the receipt of Exchange’s Web site), or within two
the opening price in the underlying minutes of market opening for the
The Exchange proposes to amend
index for all assigned options, or in the underlying currency in the case of a
GEMX Rule 701, entitled ‘‘Opening.’’
case of a U.S. dollar-settled foreign U.S. dollar-settled foreign currency
The text of the proposed rule change
currency option after the announced option (or such shorter time as
is available on the Exchange’s Web site
market opening. The Exchange believes determined by the Exchange and
at www.ise.com, at the principal office
that the current requirement is very disseminated to membership on the
of the Exchange, and at the
burdensome and instead proposes to Exchange’s Web site) the PMM’s Valid
Commission’s Public Reference Room.
add ‘‘in 90% of their assigned series’’ to Width Quote, the Valid Width Quotes of
II. Self-Regulatory Organization’s require a PMM to enter a Valid Width two Competitive Maker [sic] Makers
Statement of the Purpose of, and Quote not later than one minute (‘‘CMMs’’) or if neither the PMM’s Valid
Statutory Basis for, the Proposed Rule following the dissemination of a quote Width Quote nor the Valid Width Quote
Change or trade by the market for the of two CMMs have been submitted
In its filing with the Commission, the underlying security or, in the case of within such timeframe, if one CMM has
Exchange included statements index options, following the receipt of submitted a Valid Width Quote.4
concerning the purpose of and basis for the opening price in 90% of their Implementation
the proposed rule change and discussed assigned series, or in the case of a U.S.
any comments it received on the dollar-settled foreign currency option in The Exchange proposes to implement
rmajette on DSKBCKNHB2PROD with NOTICES

proposed rule change. The text of these 90% of their assigned series not later this rule change on September 29, 2017.
statements may be examined at the than one minute after the announced 2. Statutory Basis
places specified in Item IV below. The market opening.
Exchange has prepared summaries, set Further, the Exchange proposes to The Exchange believes that its
require PMMs to promptly enter a Valid proposal is consistent with Section 6(b)
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4. 3 See MRX Rule 701. 4 See Rule 701(c)(1)(i)–(iii).

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Document Created: 2018-10-24 12:38:04
Document Modified: 2018-10-24 12:38:04

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 40187