82 FR 41079 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Adopt New Rules That Describe the Trading of Complex Orders on the Exchange

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 166 (August 29, 2017)

Page Range		41079-41080
FR Document		2017-18241

Federal Register, Volume 82 Issue 166 (Tuesday, August 29, 2017)

[Federal Register Volume 82, Number 166 (Tuesday, August 29, 2017)]
[Notices]
[Pages 41079-41080]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-18241]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81468; File No. SR-BatsEDGX-2017-29]


Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change To Adopt New Rules That Describe the Trading of Complex Orders 
on the Exchange

August 23, 2017.
    On June 30, 2017, Bats EDGX Exchange, Inc. (the ``Exchange'' or 
``EDGX'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to adopt new rules that describe the trading of 
complex orders on the Exchange's equity options platform. The proposed 
rule change was published for comment in the Federal Register on July 
19, 2017.\3\ The Commission has received no comment letters regarding 
the proposal.
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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. 81137 (July 13, 
2017), 82 FR 33170.
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    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is September 2, 2017.
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    \4\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2) of the Act \5\ and for 
the reasons stated above, the Commission designates October 17, 2017, 
as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to

[[Page 41080]]

disapprove, the proposed rule change (File No. SR-BatsEDGX-2017-29).
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    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-18241 Filed 8-28-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 166 / Tuesday, August 29, 2017 / Notices 41079

impose any burden on intramarket Paper Comments SECURITIES AND EXCHANGE
competition that is not necessary or COMMISSION
appropriate in furtherance of the • Send paper comments in triplicate
purposes of the Act. to Brent J. Fields, Secretary, Securities
[Release No. 34–81468; File No. SR–
IEX also notes that it does not have and Exchange Commission, 100 F Street BatsEDGX–2017–29]
exclusive arrangements with third-party NE., Washington, DC 20549–1090.
vendors with respect to optional access All submissions should refer to File Self-Regulatory Organizations; Bats
to discounted products and services Number SR–IEX–2017–20. This file EDGX Exchange, Inc.; Notice of
from third-party vendors. IEX believes number should be included on the Designation of Longer Period for
that multiple third-party vendors offer Commission Action on Proposed Rule
subject line if email is used. To help the
similar services and listed companies Change To Adopt New Rules That
Commission process and review your
will not be required to accept any Describe the Trading of Complex
comments more efficiently, please use Orders on the Exchange
discounted products and services as a only one method. The Commission will
condition to listing. IEX listed post all comments on the Commission’s August 23, 2017.
companies are free to purchase similar
Internet Web site (http://www.sec.gov/ On June 30, 2017, Bats EDGX
products and services from other
rules/sro.shtml). Copies of the Exchange, Inc. (the ‘‘Exchange’’ or
vendors, or not to use any such products
submission, all subsequent ‘‘EDGX’’) filed with the Securities and
and services, instead of accepting the
amendments, all written statements Exchange Commission (‘‘Commission’’),
products and services described herein
with respect to the proposed rule pursuant to Section 19(b)(1) of the
offered by the Exchange. Thus, even if
change that are filed with the Securities Exchange Act of 1934
IEX were to list a large number of
Commission, and all written (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
companies, it nonetheless does not
communications relating to the proposed rule change to adopt new
believe that the proposed rule change
proposed rule change between the rules that describe the trading of
will adversely impact competition for
Commission and any person, other than complex orders on the Exchange’s
such products and services.
those that may be withheld from the equity options platform. The proposed
C. Self-Regulatory Organization’s public in accordance with the rule change was published for comment
Statement on Comments on the in the Federal Register on July 19,
provisions of 5 U.S.C. 552, will be
Proposed Rule Change Received From 2017.3 The Commission has received no
available for Web site viewing and
Members, Participants, or Others comment letters regarding the proposal.
printing in the Commission’s Public
Section 19(b)(2) of the Act 4 provides
Written comments were neither Reference Room, 100 F Street NE., that within 45 days of the publication of
solicited nor received. Washington, DC 20549, on official notice of the filing of a proposed rule
III. Date of Effectiveness of the business days between the hours of change, or within such longer period up
Proposed Rule Change and Timing for 10:00 a.m. and 3:00 p.m. Copies of the to 90 days as the Commission may
Commission Action filing also will be available for designate if it finds such longer period
inspection and copying at the principal to be appropriate and publishes its
Within 45 days of the date of office of the Exchange. All comments reasons for so finding or as to which the
publication of this notice in the Federal received will be posted without change; self-regulatory organization consents,
Register or within such longer period the Commission does not edit personal the Commission shall either approve the
up to 90 days (i) as the Commission may identifying information from proposed rule change, disapprove the
designate if it finds such longer period submissions. You should submit only proposed rule change, or institute
to be appropriate and publishes its information that you wish to make proceedings to determine whether the
reasons for so finding or (ii) as to which available publicly. All submissions proposed rule change should be
the self-regulatory organization should refer to File Number SR–IEX– disapproved. The 45th day for this filing
consents, the Commission will: 2017–20 and should be submitted on or is September 2, 2017.
(A) by order approve or disapprove before September 19, 2017. The Commission is extending the 45-
such proposed rule change, or day time period for Commission action
For the Commission, by the Division of
(B) institute proceedings to determine on the proposed rule change. The
Trading and Markets, pursuant to delegated
whether the proposed rule change Commission finds that it is appropriate
authority.11
should be disapproved. to designate a longer period within
Eduardo A. Aleman, which to take action on the proposed
IV. Solicitation of Comments Assistant Secretary. rule change so that it has sufficient time
Interested persons are invited to [FR Doc. 2017–18242 Filed 8–28–17; 8:45 am] to consider and take action on the
submit written data, views, and BILLING CODE 8011–01–P Exchange’s proposed rule change.
arguments concerning the foregoing, Accordingly, pursuant to Section
including whether the proposed rule 19(b)(2) of the Act 5 and for the reasons
change is consistent with the Act. stated above, the Commission
Comments may be submitted by any of designates October 17, 2017, as the date
the following methods: by which the Commission should either
approve or disapprove, or institute
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Electronic Comments proceedings to determine whether to
• Use the Commission’s Internet
1 15 U.S.C. 78s(b)(1).
comment form (http://www.sec.gov/
2 17 CFR 240.19b–4.
rules/sro.shtml); or 3 See Securities Exchange Act Release No. 81137
• Send an email to rule-comments@ (July 13, 2017), 82 FR 33170.
sec.gov. Please include File Number SR– 4 15 U.S.C. 78s(b)(2).

IEX–2017–20 on the subject line. 11 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2).

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41080 Federal Register / Vol. 82, No. 166 / Tuesday, August 29, 2017 / Notices

disapprove, the proposed rule change SECURITIES AND EXCHANGE year 2018 is $620,000,000. Section
(File No. SR–BatsEDGX–2017–29). COMMISSION 6(b)(6)(B) defines the ‘‘baseline estimate
For the Commission, by the Division of [Release Nos. 33–10407; 34–81476/August
of the aggregate maximum offering
Trading and Markets, pursuant to delegated 24, 2017] prices’’ for fiscal year 2018 as ‘‘the
authority.6 baseline estimate of the aggregate
Eduardo A. Aleman, Order Making Fiscal Year 2018 Annual maximum offering price at which
Assistant Secretary. Adjustments to Registration Fee Rates securities are proposed to be offered
[FR Doc. 2017–18241 Filed 8–28–17; 8:45 am] pursuant to registration statements filed
I. Background
BILLING CODE 8011–01–P with the Commission during [fiscal year
The Commission collects fees under 2018] as determined by the
various provisions of the securities Commission, after consultation with the
SECURITIES AND EXCHANGE laws. Section 6(b) of the Securities Act Congressional Budget Office and the
COMMISSION of 1933 (‘‘Securities Act’’) requires the Office of Management and Budget . . .
Commission to collect fees from issuers
.’’
Sunshine Act Meeting on the registration of securities.1 Section
13(e) of the Securities Exchange Act of To make the baseline estimate of the
Notice is hereby given, pursuant to 1934 (‘‘Exchange Act’’) requires the aggregate maximum offering price for
the provisions of the Government in the Commission to collect fees on specified fiscal year 2018, the Commission is
Sunshine Act, Public Law 94–409, that repurchases of securities.2 Section 14(g) using a methodology that has been used
the Securities and Exchange of the Exchange Act requires the in prior fiscal years and that was
Commission will hold a closed meeting Commission to collect fees on specified developed in consultation with the
on Thursday, August 31, 2017 at 2 p.m. proxy solicitations and statements in Congressional Budget Office (‘‘CBO’’)
Commissioners, Counsel to the corporate control transactions.3 These and Office of Management and Budget
Commissioners, the Secretary to the provisions require the Commission to (‘‘OMB’’).6 Using this methodology, the
Commission, and recording secretaries make annual adjustments to the Commission determines the ‘‘baseline
will attend the closed meeting. Certain applicable fee rates. estimate of the aggregate maximum
staff members who have an interest in II. Fiscal Year 2018 Annual Adjustment offering price’’ for fiscal year 2018 to be
the matters also may be present. to Fee Rates $4,981,648,951,511. Based on this
The General Counsel of the estimate, the Commission calculates the
Commission, or his designee, has Section 6(b)(2) of the Securities Act
requires the Commission to make an fee rate for fiscal 2018 to be $124.50 per
certified that, in his opinion, one or million. This adjusted fee rate applies to
annual adjustment to the fee rate
more of the exemptions set forth in 5 Section 6(b) of the Securities Act, as
applicable under Section 6(b).4 The
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) well as to Sections 13(e) and 14(g) of the
annual adjustment to the fee rate under
and 17 CFR 200.402(a)(3), (a)(5), (a)(7), Exchange Act.
Section 6(b) of the Securities Act also
(a)(9)(ii) and (a)(10), permit
sets the annual adjustment to the fee
consideration of the scheduled matters III. Effective Dates of the Annual
rates under Sections 13(e) and 14(g) of
at the closed meeting. Adjustments
the Exchange Act.5
Commissioner Piwowar, as duty Section 6(b)(2) sets forth the method
officer, voted to consider the items The fiscal year 2018 annual
for determining the annual adjustment adjustments to the fee rates applicable
listed for the closed meeting in closed to the fee rate under Section 6(b) for
session. under Section 6(b) of the Securities Act
fiscal year 2018. Specifically, the
The subject matters of the closed and Sections 13(e) and 14(g) of the
Commission must adjust the fee rate
meeting will be: under Section 6(b) to a ‘‘rate that, when Exchange Act will be effective on
applied to the baseline estimate of the October 1, 2017.7
Institution and settlement of
injunctive actions; aggregate maximum offering prices for IV. Conclusion
Institution and settlement of [fiscal year 2018], is reasonably likely to
administrative proceedings; produce aggregate fee collections under Accordingly, pursuant to Section 6(b)
Adjudicatory matters; [Section 6(b)] that are equal to the target of the Securities Act and Sections 13(e)
fee collection amount for [fiscal year and 14(g) of the Exchange Act,8
Resolution of litigation claims; and 2018].’’ That is, the adjusted rate is
Other matters relating to enforcement It is hereby ordered that the fee rates
determined by dividing the ‘‘target fee applicable under Section 6(b) of the
proceedings. collection amount’’ for fiscal year 2018
At times, changes in Commission Securities Act and Sections 13(e) and
by the ‘‘baseline estimate of the
priorities require alterations in the 14(g) of the Exchange Act shall be
aggregate maximum offering prices’’ for
scheduling of meeting items. fiscal year 2018. $124.50 per million effective on October
For further information and to Section 6(b)(6)(A) specifies that the 1, 2017.
ascertain what, if any, matters have been ‘‘target fee collection amount’’ for fiscal
added, deleted or postponed; please 6 Appendix A explains how we determined the

contact Brent J. Fields from the Office of 1 15 U.S.C. 77f(b). ‘‘baseline estimate of the aggregate maximum
the Secretary at (202) 551–5400.
2 15 U.S.C. 78m(e). offering price’’ for fiscal year 2018 using our
3 15 U.S.C. 78n(g). methodology, and then shows the arithmetical
sradovich on DSK3GMQ082PROD with NOTICES

Dated: August 24, 2017. 4 15 U.S.C. 77f(b)(2). The annual adjustments are process of calculating the fiscal year 2018 annual
Brent J. Fields, designed to adjust the fee rate in a given fiscal year adjustment based on that estimate. The appendix
so that, when applied to the aggregate maximum includes the data used by the Commission in
Secretary. offering price at which securities are proposed to making its ‘‘baseline estimate of the aggregate
[FR Doc. 2017–18350 Filed 8–25–17; 11:15 am] be offered for the fiscal year, it is reasonably likely
maximum offering price’’ for fiscal year 2018.
BILLING CODE 8011–01–P
to produce total fee collections under Section 6(b)
7 15 U.S.C. 77f(b)(4), 15 U.S.C. 78m(e)(6) and 15
equal to the ‘‘target fee collection amount’’ specified
in Section 6(b)(6)(A) for that fiscal year. U.S.C. 78n(g)(6).
6 17 CFR 200.30–3(a)(31). 5 15 U.S.C. 78m(e)(4) and 15 U.S.C. 78n(g)(4). 8 15 U.S.C. 77f(b), 78m(e) and 78n(g).

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Document Created: 2017-08-29 01:58:24
Document Modified: 2017-08-29 01:58:24

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 41079