82 FR 43430 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Equities Fees and Charges

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 178 (September 15, 2017)

Page Range		43430-43432
FR Document		2017-19586
Federal Register, Volume 82 Issue 178 (Friday, September 15, 2017)
[Federal Register Volume 82, Number 178 (Friday, September 15, 2017)]
[Notices]
[Pages 43430-43432]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-19586]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81573; File No. SR-NYSEARCA-2017-97]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE 
Arca Equities Fees and Charges

September 11, 2017.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on August 29, 2017, NYSE Arca, Inc. (the ``Exchange'' or 
``NYSE Arca'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I, II, 
and III below, which Items have been prepared by the self-regulatory 
organization. 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\ 15 U.S.C. 78a.
    \3\ 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 amend the NYSE Arca Equities Fees and 
Charges (the ``Fee Schedule'') to adopt a cap, for August and September 
2017, on monthly fees for the use of ports connecting to NYSE Arca that 
are added after August 18, 2017. The Exchange proposes to implement the 
changes on August 29, 2017.\4\ The proposed rule change is available on 
the Exchange's Web site at www.nyse.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.
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    \4\ The Exchange originally filed to amend the Fee Schedule on 
August 18, 2017 (SR-NYSEArca-2017-91) and withdrew such filing on 
August 29, 2017.
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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 self-regulatory organization 
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 those 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 parts of such statements.

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

1. Purpose
    In connection with the introduction of new gateways on August 21, 
2017, the Exchange proposes to amend its Fee Schedule to adopt a cap, 
for August and September 2017, on monthly fees for the use of ports 
connecting to NYSE Arca that are added after August 18, 2017.
    The Exchange currently makes ports available that provide 
connectivity to the Exchange's trading systems (i.e., ports for the 
entry of orders and/or quotes (``order/quote entry ports'')) and 
charges $550 per port per month.\5\ The Exchange also currently makes 
ports available for drop copies and charges $550 per port per month.\6\
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    \5\ Port fees are not applicable to ports used for the 
Exchange's Risk Management Gateway service. Further, no fee applies 
to ports in the backup datacenter that are not utilized during the 
relevant month. No fee applies to ports in the backup datacenter 
that are utilized when the primary datacenter is unavailable. 
However, if a port in the backup datacenter is utilized when the 
primary datacenter is available, then the fee shall apply.
    \6\ No fee applies to ports in the backup datacenter if 
configured such that it is duplicative of another drop copy port of 
the same user. Only one fee per drop copy port applies, even if the 
port receives drop copies from multiple order/quote entry ports and/
or drop copies for activity on both NYSE Arca Equities and NYSE Arca 
Options.
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    In order to facilitate an ETP Holder's transition to the Exchange's 
new gateways on August 21, 2017, the Exchange proposes to add to its 
Fee Schedule that, for the billing months of August and September 2017, 
the total charge per firm for order/quote entry ports and drop copy 
ports will be capped at the total number of such ports that the firm 
has activated at the start of trading on August 18, 2017, the last 
trading day prior to the introduction of the new gateways. This cap 
would have the effect of waiving the port fees, for August and 
September 2017, of any

[[Page 43431]]

new, additional ports that an ETP Holder may use.
    Additionally, the Exchange proposes that, effective October 1, 
2017, the monthly fees for ports activated after August 18, 2017, would 
be prorated to the number of trading days in a billing month, including 
any scheduled early closing days, that a port is connected to the 
Exchange.\7\
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    \7\ The NASDAQ Stock Market LLC (``NASDAQ'') prorates Order 
Entry Port fees for the first month for new requests for ports. See 
NASDAQ Price List at https://www.nasdaqtrader.com/Trader.aspx?id=PriceListTrading2.
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* * * * *
    The proposed changes are not otherwise intended to address any 
other issues, and the Exchange is not aware of any problems that member 
organizations would have in complying with the proposed change.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\8\ in general, and furthers the 
objectives of Sections 6(b)(4) of the Act,\9\ in particular, because it 
provides for the equitable allocation of reasonable dues, fees, and 
other charges among its members, issuers and other persons using its 
facilities and does not unfairly discriminate between customers, 
issuers, brokers or dealers.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(4).
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    The Exchange believes that the proposed cap for August and 
September 2017 is reasonable because the proposed cap would allow ETP 
Holders a transition period to adjust to the new gateways.\10\ Further, 
to the extent that an ETP Holder needs an increasing number of ports to 
maintain or expand its activity on the Exchange, the Exchange believes 
without the proposed cap ETP Holders may be inhibited from growing 
their activity on the Exchange. As a general principal, the Exchange 
believes that greater participation on the Exchange by ETP Holders 
improves market quality for all market participants. Thus, the proposed 
cap balances the Exchange's desire to improve market quality against 
the need to cover costs to support connectivity to the Exchange. 
Finally, the Exchange believes that the proposed cap constitutes an 
equitable allocation of fees because all similarly situated ETP Holders 
would be eligible for the cap.
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    \10\ The terms ``gateway'' and ``ports'' are used 
interchangeably. Activating a port, for instance, essentially means 
establishing a connection to a gateway.
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    The Exchange further believes the proposal to charge fees for ports 
activated after August 18, 2017 on a prorated basis based on the number 
of trading days in a billing month the port is connected to the 
Exchange is fair and reasonable because it would allow all Exchange 
participants to subscribe to the most effective connectivity according 
to their trading requirements and as a result will only be assessed 
fees for the connectivity they utilize during any trading month 
beginning October 1, 2017.\11\ The Exchange's proposal to pro-rate port 
fees is also equitable since it would apply equally to all ETP Holders 
that connect to the Exchange. As noted above, NASDAQ currently charges 
new order entry ports on a prorated basis for the first month of 
service. The Exchange notes, however, that fees for ports activated 
before August 21, 2017 would not be pro-rated. The Exchange believes it 
is fair, equitable and not unfairly discriminatory to charge flat fees 
for ports activated before August 21, 2017 as such ports are expected 
to be phased out within a short period of time after the introduction 
of the new gateways. The Exchange believes the proposed proration of 
fees for ports activated after August 18, 2017 would serve as an 
incentive to ETP Holders to fully transition to the new gateways even 
though the Exchange would continue to provide ETP Holders with the 
ability to connect to the Exchange through ports activated before 
August 21, 2017. The Exchange further notes that billing for ports 
activated before August 21, 2017 will continue to be based on the 
number of ports on the third business day prior to the end of the month 
consistent with the Exchange's billing policy, and so firms that cancel 
ports before the third business day prior to the end of the month will 
not be billed for those ports.
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    \11\ Billing for ports is based on the number of ports on the 
third business day prior to the end of the month. The level of 
activity with respect to a particular port does not affect the 
assessment of monthly fees, so even if a particular port that is 
available to a participant is not used, the participant is still 
billed for that port. See Securities Exchange Act Release No. 66110 
(January 5, 2012), 77 FR 1766 (January 11, 2012) (SR-NYSEArca-2012-
01).
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    The Exchange also believes the proposal furthers the objectives of 
Section 6(b)(5) of the Act \12\ in that the proposed rule change 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 and is not designed to permit unfair discrimination 
between customers, issuers, brokers and dealers. In particular, the 
Exchange believes that the Exchange's pro-rating of port fees is 
consistent with Section 6(b)(5) of the Act since all ETP Holders would 
receive the benefit of being charged only for the connectivity utilized 
during any trading month beginning October 2017. As noted above, to the 
extent an ETP Holder continues to use ports activated before August 21, 
2017 to connect to the Exchange during October 2017 and any subsequent 
months, the Exchange believes it is fair, equitable and not unfairly 
discriminatory to continue to charge flat fees for such ports until 
such time that connection to the Exchange through the use of old ports 
is no longer available which the Exchange expects to occur within a 
short period of time after the introduction of the new gateways.
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    \12\ 15 U.S.C. 78f(b)(5).
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    Finally, the Exchange believes that it is subject to significant 
competitive forces, as described below in the Exchange's statement 
regarding the burden on competition. For these reasons, the Exchange 
believes that the proposal is consistent with the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\13\ the Exchange 
does not believe that the proposed rule change will impose any burden 
on intermarket or intramarket competition that is not necessary or 
appropriate in furtherance of the purposes of the Act in that it is 
simply designed to set forth the Exchange's adoption of a fee cap and 
pro-rata billing for ports without any change to the fees currently 
charged by the Exchange for the use of ports to connect to the 
Exchange's trading systems. ETP Holders may opt to disfavor the 
Exchange's pricing if they believe that alternatives offer them better 
value. Accordingly, the Exchange does not believe that the proposed 
change will impair the ability of ETP Holders to maintain their 
competitive standing in the financial markets. The Exchange believes 
that fees for connectivity are constrained by the robust competition 
for order flow among exchanges and non-exchange markets. Further, 
excessive fees for connectivity, including port fees, would serve to 
impair an exchange's ability to compete for order flow rather than 
burdening competition. The Exchange also does not believe the proposed 
rule change would impact intramarket competition as it would apply to 
all ETP Holders equally that connect to the Exchange through the use of 
new ports. To the extent an ETP Holder continues to use ports activated 
before August 21, 2017 to connect to the Exchange during October 2017 
and any subsequent

[[Page 43432]]

months, the Exchange believes the proposed rule change would not impact 
intramarket competition as given that the Exchange would provide all 
ETP Holders the ability to connect to the Exchange through ports that 
are activated before August 21, 2017 and through ports that are 
activated after August 18, 2017.
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    \13\ 15 U.S.C. 78f(b)(8).
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C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \14\ of the Act and subparagraph (f)(2) of Rule 
19b-4 \15\ thereunder, because it establishes a due, fee, or other 
charge imposed by the Exchange.
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    \14\ 15 U.S.C. 78s(b)(3)(A).
    \15\ 17 CFR 240.19b-4(f)(2).
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    At any time within 60 days of the filing of such 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. If the Commission 
takes such action, the Commission shall institute proceedings under 
Section 19(b)(2)(B) \16\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \16\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSEARCA-2017-97 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEARCA-2017-97. 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-NYSEARCA-2017-97 and should 
be submitted on or before October 6, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-19586 Filed 9-14-17; 8:45 am]
 BILLING CODE 8011-01-P
43430 Federal Register / Vol. 82, No. 178 / Friday, September 15, 2017 / Notices

Authority (‘‘FINRA’’) and the Chicago Information Officer, Securities and II. Self-Regulatory Organization’s
Board Options Exchange. Currently, Exchange Commission, c/o Remi Pavlik- Statement of the Purpose of, and
FINRA accounts for the bulk of the Simon, 100 F Street NE., Washington, Statutory Basis for, the Proposed Rule
fingerprint submissions. DC 20549, or send an email to: PRA_ Change
It is estimated that 4,200 respondents Mailbox@sec.gov.
submit approximately 285,600 sets of In its filing with the Commission, the
fingerprints (consisting of Dated: September 12, 2017. self-regulatory organization included
approximately 243,600 electronic sets Eduardo A. Aleman, statements concerning the purpose of,
and 42,000 hard copy sets) to SROs on Assistant Secretary.
and basis for, the proposed rule change
an annual basis. The Commission and discussed any comments it received
[FR Doc. 2017–19678 Filed 9–14–17; 8:45 am]
estimates that it would take on the proposed rule change. The text
BILLING CODE 8011–01–P of those statements may be examined at
approximately 15 minutes to create and
submit each fingerprint card. The total the places specified in Item IV below.
reporting burden is therefore estimated The Exchange has prepared summaries,
SECURITIES AND EXCHANGE set forth in sections A, B, and C below,
to be approximately 71,400 hours, or COMMISSION
approximately 15 hours per respondent, of the most significant parts of such
annually. statements.
In addition, the SROs charge an [Release No. 34–81573; File No. SR–
NYSEARCA–2017–97] A. Self-Regulatory Organization’s
estimated $25.00 fee for processing Statement of the Purpose of, and the
fingerprint cards submitted Statutory Basis for, the Proposed Rule
electronically, resulting in a total annual Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and Change
cost to all 4,200 respondents of
$6,090,000, or $1,450 per respondent Immediate Effectiveness of Proposed 1. Purpose
per year. The SROs charge an estimated Rule Change To Amend the NYSE Arca
In connection with the introduction of
$40.00 fee for processing fingerprint Equities Fees and Charges
new gateways on August 21, 2017, the
cards submitted in hard copy, resulting Exchange proposes to amend its Fee
September 11, 2017.
in a total annual cost to all 4,200 Schedule to adopt a cap, for August and
respondents of approximately Pursuant to Section 19(b)(1) 1 of the September 2017, on monthly fees for the
$1,680,000, or $400 per respondent per Securities Exchange Act of 1934 (the use of ports connecting to NYSE Arca
year. The combined annual cost to all ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 that are added after August 18, 2017.
respondents is thus $7,770,000. notice is hereby given that, on August The Exchange currently makes ports
Because the FBI will not accept 29, 2017, NYSE Arca, Inc. (the available that provide connectivity to
fingerprint cards directly from ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with the Exchange’s trading systems (i.e.,
submitting organizations, Commission the Securities and Exchange ports for the entry of orders and/or
approval of fingerprint plans from Commission (the ‘‘Commission’’) the quotes (‘‘order/quote entry ports’’)) and
certain SROs is essential to carry out the proposed rule change as described in charges $550 per port per month.5 The
Congressional goal to fingerprint Items I, II, and III below, which Items Exchange also currently makes ports
securities industry personnel. Filing
have been prepared by the self- available for drop copies and charges
these plans for review assures users and
regulatory organization. The $550 per port per month.6
their personnel that fingerprint cards
Commission is publishing this notice to In order to facilitate an ETP Holder’s
will be handled responsibly and with
due care for confidentiality. solicit comments on the proposed rule transition to the Exchange’s new
Written comments are invited on: (a) change from interested persons. gateways on August 21, 2017, the
Whether the proposed collection of Exchange proposes to add to its Fee
I. Self-Regulatory Organization’s Schedule that, for the billing months of
information is necessary for the proper Statement of the Terms of Substance of
performance of the functions of the August and September 2017, the total
the Proposed Rule Change charge per firm for order/quote entry
Commission, including whether the
information shall have practical utility; The Exchange proposes to amend the ports and drop copy ports will be
(b) the accuracy of the Commission’s capped at the total number of such ports
NYSE Arca Equities Fees and Charges
estimates of the burden of the proposed that the firm has activated at the start of
(the ‘‘Fee Schedule’’) to adopt a cap, for
collection of information; (c) ways to trading on August 18, 2017, the last
August and September 2017, on trading day prior to the introduction of
enhance the quality, utility, and clarity monthly fees for the use of ports
of the information collected; and (d) the new gateways. This cap would have
connecting to NYSE Arca that are added the effect of waiving the port fees, for
ways to minimize the burden of the after August 18, 2017. The Exchange
collection of information on August and September 2017, of any
proposes to implement the changes on
respondents, including through the use August 29, 2017.4 The proposed rule 5 Port fees are not applicable to ports used for the
of automated collection techniques or change is available on the Exchange’s Exchange’s Risk Management Gateway service.
other forms of information technology.
Web site at www.nyse.com, at the Further, no fee applies to ports in the backup
Consideration will be given to datacenter that are not utilized during the relevant
principal office of the Exchange, and at
comments and suggestions submitted in month. No fee applies to ports in the backup
writing within 60 days of this the Commission’s Public Reference datacenter that are utilized when the primary
publication. Room. datacenter is unavailable. However, if a port in the
mstockstill on DSK30JT082PROD with NOTICES

backup datacenter is utilized when the primary
An agency may not conduct or datacenter is available, then the fee shall apply.
1 15 U.S.C. 78s(b)(1).
sponsor, and a person is not required to 6 No fee applies to ports in the backup datacenter
2 15 U.S.C. 78a.
respond to, a collection of information 3 17 CFR 240.19b–4.
if configured such that it is duplicative of another
under the PRA unless it displays a drop copy port of the same user. Only one fee per
4 The Exchange originally filed to amend the Fee drop copy port applies, even if the port receives
currently valid OMB control number. Schedule on August 18, 2017 (SR–NYSEArca– drop copies from multiple order/quote entry ports
Please direct your written comments 2017–91) and withdrew such filing on August 29, and/or drop copies for activity on both NYSE Arca
to: Pamela Dyson, Director/Chief 2017. Equities and NYSE Arca Options.

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43432 Federal Register / Vol. 82, No. 178 / Friday, September 15, 2017 / Notices

months, the Exchange believes the and Exchange Commission, 100 F Street SECURITIES AND EXCHANGE
proposed rule change would not impact NE., Washington, DC 20549–1090. COMMISSION
intramarket competition as given that
the Exchange would provide all ETP All submissions should refer to File [Release No. 34–81567; File No. SR–Phlx–
Number SR–NYSEARCA–2017–97. This 2017–34]
Holders the ability to connect to the
Exchange through ports that are file number should be included on the
Self-Regulatory Organizations;
activated before August 21, 2017 and subject line if email is used. To help the
NASDAQ PHLX LLC; Notice of
through ports that are activated after Commission process and review your Designation of a Longer Period for
August 18, 2017. comments more efficiently, please use Commission Action on a Proposed
only one method. The Commission will Rule Change To Add an Exception to
C. Self-Regulatory Organization’s post all comments on the Commission’s
Statement on Comments on the Phlx Rule 1000(f)(iii) for Certain Floor
Internet Web site (http://www.sec.gov/ Broker Transactions and Adopt Rule
Proposed Rule Change Received From rules/sro.shtml). Copies of the
Members, Participants, or Others 1063(e)(v) To Add the Snapshot
submission, all subsequent Functionality to the Options Floor
No written comments were solicited amendments, all written statements Broker Management System
or received with respect to the proposed with respect to the proposed rule
rule change. change that are filed with the September 11, 2017.
Commission, and all written On July 18, 2017, NASDAQ PHLX
III. Date of Effectiveness of the LLC (‘‘Exchange’’) filed with the
Proposed Rule Change and Timing for communications relating to the
Securities and Exchange Commission
Commission Action proposed rule change between the
(‘‘Commission’’), pursuant to Section
Commission and any person, other than
The foregoing rule change is effective 19(b)(1) of the Securities Exchange Act
those that may be withheld from the of 1934 (‘‘Act’’) 1 and Rule 19b–4
upon filing pursuant to Section
public in accordance with the thereunder,2 a proposed rule change to
19(b)(3)(A) 14 of the Act and
subparagraph (f)(2) of Rule 19b–4 15 provisions of 5 U.S.C. 552, will be add an exception to Phlx Rule
thereunder, because it establishes a due, available for Web site viewing and 1000(f)(iii) 3 to permit Floor Brokers to
fee, or other charge imposed by the printing in the Commission’s Public execute (1) multi-leg orders,4 and (2)
Exchange. Reference Room, 100 F Street NE., simple orders in options on Exchange
At any time within 60 days of the Washington, DC, 20549, on official Trade Funds (‘‘ETFs’’) that are included
filing of such proposed rule change, the business days between the hours of in the Penny Pilot, in the trading crowd
Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the using ‘‘Snapshot,’’ a new functionality
temporarily suspend such rule change if filing also will be available for Phlx is proposing for its Floor Broker
it appears to the Commission that such inspection and copying at the principal Management System (‘‘FBMS’’).5 The
action is necessary or appropriate in the office of the Exchange. All comments proposed rule change was published for
public interest, for the protection of received will be posted without change; comment in the Federal Register on
investors, or otherwise in furtherance of the Commission does not edit personal August 1, 2017.6 The Commission has
the purposes of the Act. If the identifying information from received no comment letters on the
Commission takes such action, the submissions. You should submit only proposed rule change.
Commission shall institute proceedings information that you wish to make Section 19(b)(2) of the Act 7 provides
under Section 19(b)(2)(B) 16 of the Act to available publicly. All submissions that within 45 days of the publication of
determine whether the proposed rule should refer to File Number SR– notice of the filing of a proposed rule
change should be approved or NYSEARCA–2017–97 and should be change, or within such longer period up
disapproved. submitted on or before October 6, 2017. to 90 days as the Commission may
designate if it finds such longer period
IV. Solicitation of Comments For the Commission, by the Division of to be appropriate and publishes its
Interested persons are invited to Trading and Markets, pursuant to delegated reasons for so finding or as to which the
submit written data, views, and authority.17 self-regulatory organization consents,
arguments concerning the foregoing, Eduardo A. Aleman, the Commission shall either approve the
including whether the proposed rule Assistant Secretary. proposed rule change, disapprove the
change is consistent with the Act. [FR Doc. 2017–19586 Filed 9–14–17; 8:45 am] proposed rule change, or institute
Comments may be submitted by any of BILLING CODE 8011–01–P
the following methods: 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Electronic Comments 3 Phlx Rule 1000(f) requires that all Exchange

options transactions be executed in one of the
• Use the Commission’s Internet following three ways: (i) [a]utomatically by the
comment form (http://www.sec.gov/ [Exchange’s Trading System] pursuant to Phlx Rule
rules/sro.shtml); or 1080 and other applicable options rules, (ii) by and
• Send an email to rule-comments@ among members in the Exchange’s options trading
crowd none of whom is a floor broker; or (iii)
sec.gov. Please include File Number SR– through the Options Floor Broker Management
NYSEARCA–2017–97 on the subject System for trades involving a least one Floor
line. Broker. Phlx rules currently permit four exceptions
mstockstill on DSK30JT082PROD with NOTICES

to Phlx Rule 1000(f)(iii). See Rule Rule
Paper Comments 1000(f)(iii)(A)–(D).
4 See Phlx Rule 1066(f) (defining multi-leg
• Send paper comments in triplicate orders).
to Brent J. Fields, Secretary, Securities 5 The Snapshot functionality would be codified in

a new proposed rule, Phlx Rule 1063(e)(v).
14 15 U.S.C. 78s(b)(3)(A). 6 See Securities Exchange Act Release No. 81230
15 17 CFR 240.19b–4(f)(2). (July 27, 2017), 82 FR 35858.
16 15 U.S.C. 78s(b)(2)(B). 17 17 CFR 200.30–3(a)(12). 7 15 U.S.C. 78s(b)(2).

VerDate Sep<11>2014 18:16 Sep 14, 2017 Jkt 241001 PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 E:\FR\FM\15SEN1.SGM 15SEN1
Document Created: 2017-09-15 00:18:20
Document Modified: 2017-09-15 00:18:20
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 43430