82 FR 43607 - Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Add a Missing Letter to Section IV, Part D of the Pricing Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 179 (September 18, 2017)

Page Range		43607-43609
FR Document		2017-19708
Federal Register, Volume 82 Issue 179 (Monday, September 18, 2017)
[Federal Register Volume 82, Number 179 (Monday, September 18, 2017)]
[Notices]
[Pages 43607-43609]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-19708]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81583; File No. SR-Phlx-2017-72]


Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Add a Missing 
Letter to Section IV, Part D of the Pricing Schedule

September 12, 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 September 1, 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 and 
II, below, which Items have been prepared by the Exchange. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to add a missing letter to Section IV, Part D 
of the Pricing Schedule.
    The text of the proposed rule change is set forth below. Proposed 
new language is italicized.
* * * * *

[[Page 43608]]

NASDAQ PHLX LLC PRICING SCHEDULE

THE EXCHANGE CALCULATES FEES ON A TRADE DATE BASIS.

POLICY FOR AMENDING BILLING INFORMATION: CORRECTIONS SUBMITTED AFTER 
TRADE DATE AND PRIOR TO THE ISSUANCE OF AN INVOICE BY THE EXCHANGE MUST 
BE SUBMITTED TO THE EXCHANGE IN WRITING AND MUST BE ACCOMPANIED BY 
SUPPORTING DOCUMENTATION. ONLY MEMBERS MAY SUBMIT TRADE CORRECTIONS.

ALL BILLING DISPUTES MUST BE SUBMITTED TO THE EXCHANGE IN WRITING AND 
MUST BE ACCOMPANIED BY SUPPORTING DOCUMENTATION. ALL DISPUTES MUST BE 
SUBMITTED NO LATER THAN SIXTY (60) DAYS AFTER RECEIPT OF A BILLING 
INVOICE, EXCEPT FOR DISPUTES CONCERNING NASDAQ PSX FEES, PROPRIETARY 
DATA FEED FEES AND CO-LOCATION SERVICES FEES. THE EXCHANGE CALCULATES 
FEES ON A TRADE DATE BASIS. ONLY MEMBERS MAY SUBMIT BILLING DISPUTES.

* * * * *

IV. Other Transaction Fees

* * * * *

D. Options Regulatory Fee

$0.0045 per contract side

    The Options Regulatory Fee (``ORF'') is assessed by Phlx to each 
Phlx member for options transactions cleared by The Options Clearing 
Corporation (``OCC'') in the Customer range where: (1) the execution 
occurs on Phlx or (2) the execution occurs on another exchange and is 
cleared by a Phlx member. The ORF is collected by OCC on behalf of Phlx 
from (1) Phlx clearing members for all Customer transactions they clear 
or (2) non-members for all Customer transactions they clear that were 
executed on Phlx. Phlx uses reports from OCC when assessing and 
collecting ORF. The Exchange will notify members via an Options Trader 
Alert of any change in the amount of the fee at least 30 calendar days 
prior to the effective date of the change.
* * * * *

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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange recently filed a proposal to amend the Exchange's 
Options Regulatory Fee at Section IV, Part D of the Pricing 
Schedule.\3\ In that proposal, the Exchange inadvertently forgot to add 
the ``c'' in the word ``clearing'' in the following sentence: ``The ORF 
is collected by OCC on behalf of Phlx from (1) Phlx learing members for 
all Customer transactions they clear or (2) non-members for all 
Customer transactions they clear that were executed on Phlx. Phlx uses 
reports from OCC when assessing and collecting ORF.'' The Exchange is 
filing this proposed rule change to add the ``c'' in the word 
``clearing'' to clarify the sentence.
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    \3\ See Securities and Exchange Act Release No. 81343 (August 8, 
2017), 82 FR 37964 (August 14, 2017) (SR-Phlx-2017-54).
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\4\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\5\ in particular, in that it is designed to promote 
just and equitable principles of trade, to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and, in general to protect investors and the public interest, 
by clarifying the rule text to make clear its intended meaning.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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    The Exchange proposes to correct the typographical error in the 
rule text of the Pricing Schedule related to the manner in which the 
Exchange collects the Options Regulatory Fee. The Exchange believes 
that clarifying the rule text is consistent with the Act in that it 
will protect investors and the public interest by correcting the 
spelling of a word to make clear the intended meaning.

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

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed change is a non-
substantive amendment to correct a typographical error related to the 
spelling of a word in the rule text.

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 \6\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\7\
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    \6\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
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    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the 
Act \8\ normally does not become operative for 30 days after the date 
of its filing. However, Rule 19b-4(f)(6)(iii) \9\ permits the 
Commission to designate a shorter time if such action is consistent 
with the protection of investors and the public interest. The Exchange 
has asked the Commission to waive the 30-day operative delay so that 
the proposal may become operative immediately upon filing. The Exchange 
states that waiver of the 30-day operative delay would avoid potential 
confusion that may be caused from the omission of the letter ``c'' from 
the word ``clearing.'' Based on the foregoing, the Commission believes 
the waiver of the operative delay is consistent with the protection of 
investors and the public interest. Therefore, the Commission hereby 
waives the operative delay and designates the proposal operative upon 
filing.\10\
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    \8\ 17 CFR 240.19b-4(f)(6).
    \9\ 17 CFR 240.19b-4(f)(6)(iii).
    \10\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).

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[[Page 43609]]

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is: (i) 
Necessary or appropriate in the public interest; (ii) for the 
protection of investors; or (iii) otherwise in furtherance of the 
purposes of the Act. If the Commission takes such action, the 
Commission shall institute proceedings to determine whether the 
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-Phlx-2017-72 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-2017-72. 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-2017-72, and should be 
submitted on or before October 10, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-19708 Filed 9-15-17; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices 43607

burden on intramarket competition Paper Comments SECURITIES AND EXCHANGE
because the proposed provisions apply COMMISSION
to all market participants equally. • Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
C. Self-Regulatory Organization’s [Release No. 34–81583; File No. SR–Phlx–
and Exchange Commission, 100 F Street
Statement on Comments on the 2017–72]
NE., Washington, DC 20549–1090.
Proposed Rule Change Received From
Members, Participants, or Others All submissions should refer to File Self-Regulatory Organizations;
Number SR–NYSEAMER–2017–12. This NASDAQ PHLX LLC; Notice of Filing
No written comments were solicited file number should be included on the and Immediate Effectiveness of
or received with respect to the proposed subject line if email is used. To help the Proposed Rule Change To Add a
rule change. Commission process and review your Missing Letter to Section IV, Part D of
III. Date of Effectiveness of the comments more efficiently, please use the Pricing Schedule
Proposed Rule Change and Timing for only one method. The Commission will
September 12, 2017.
Commission Action post all comments on the Commission’s
Internet Web site (http://www.sec.gov/ Pursuant to Section 19(b)(1) of the
Because the foregoing proposed rule Securities Exchange Act of 1934
rules/sro.shtml). Copies of the
change does not: (i) Significantly affect (‘‘Act’’) 1, and Rule 19b–4 thereunder,2
the protection of investors or the public submission, all subsequent
amendments, all written statements notice is hereby given that on
interest; (ii) impose any significant
with respect to the proposed rule September 1, 2017, NASDAQ PHLX LLC
burden on competition; and (iii) become
change that are filed with the (‘‘Phlx’’ or ‘‘Exchange’’) filed with the
operative for 30 days from the date on
which it was filed, or such shorter time Commission, and all written Securities and Exchange Commission
as the Commission may designate, it has communications relating to the (‘‘SEC’’ or ‘‘Commission’’) the proposed
become effective pursuant to Section proposed rule change between the rule change as described in Items I and
19(b)(3)(A)(iii) of the Act 31 and Commission and any person, other than II, below, which Items have been
subparagraph (f)(6) of Rule 19b–4 those that may be withheld from the prepared by the Exchange. The
thereunder.32 public in accordance with the Commission is publishing this notice to
At any time within 60 days of the provisions of 5 U.S.C. 552, will be solicit comments on the proposed rule
filing of the proposed rule change, the available for Web site viewing and change from interested persons.
Commission summarily may printing in the Commission’s Public I. Self-Regulatory Organization’s
temporarily suspend such rule change if Reference Room, 100 F Street NE., Statement of the Terms of Substance of
it appears to the Commission that such Washington, DC 20549 on official the Proposed Rule Change
action is: (i) Necessary or appropriate in business days between the hours of
the public interest; (ii) for the protection 10:00 a.m. and 3:00 p.m. Copies of such The Exchange proposes to add a
of investors; or (iii) otherwise in filing also will be available for missing letter to Section IV, Part D of
furtherance of the purposes of the Act. inspection and copying at the principal the Pricing Schedule.
If the Commission takes such action, the office of the Exchange. All comments The text of the proposed rule change
Commission shall institute proceedings received will be posted without change; is set forth below. Proposed new
to determine whether the proposed rule the Commission does not edit personal language is italicized.
should be approved or disapproved. identifying information from
* * * * *
IV. Solicitation of Comments submissions. You should submit only
information that you wish to make
Interested persons are invited to available publicly. All submissions
submit written data, views, and should refer to File Number SR–
arguments concerning the foregoing, NYSEAMER–2017–12, and should be
including whether the proposed rule submitted on or before October 10,
change is consistent with the Act. 2017.
Comments may be submitted by any of
the following methods: For the Commission, by the Division of
Trading and Markets, pursuant to delegated
Electronic Comments authority.33
• Use the Commission’s Internet Eduardo A. Aleman,
comment form (http://www.sec.gov/ Assistant Secretary.
rules/sro.shtml); or [FR Doc. 2017–19711 Filed 9–15–17; 8:45 am]
• Send an email to rule-comments@ BILLING CODE 8011–01–P
sec.gov. Please include File Number SR–
NYSEAMER–2017–12 on the subject
line.

3115 U.S.C. 78s(b)(3)(A)(iii).
sradovich on DSKBBY8HB2PROD with NOTICES

3217 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, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
1 15 U.S.C. 78s(b)(1).
as designated by the Commission. The Exchange
has satisfied this requirement. 3317 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.

VerDate Sep<11>2014 16:54 Sep 15, 2017 Jkt 241001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\18SEN1.SGM 18SEN1
Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices 43609

At any time within 60 days of the submissions. You should submit only the Exchange, and at the Commission’s
filing of the proposed rule change, the information that you wish to make Public Reference Room.
Commission summarily may available publicly. All submissions
II. Self-Regulatory Organization’s
temporarily suspend such rule change if should refer to File Number SR–Phlx–
Statement of the Purpose of, and
it appears to the Commission that such 2017–72, and should be submitted on or
Statutory Basis for, the Proposed Rule
action is: (i) Necessary or appropriate in before October 10, 2017.
the public interest; (ii) for the protection Change
For the Commission, by the Division of
of investors; or (iii) otherwise in Trading and Markets, pursuant to delegated In its filing with the Commission, the
furtherance of the purposes of the Act. authority.11 self-regulatory organization included
If the Commission takes such action, the Eduardo A. Aleman, statements concerning the purpose of,
Commission shall institute proceedings Assistant Secretary.
and basis for, the proposed rule change
to determine whether the proposed rule and discussed any comments it received
[FR Doc. 2017–19708 Filed 9–15–17; 8:45 am]
should be approved or disapproved. on the proposed rule change. The text
BILLING CODE 8011–01–P
of those statements may be examined at
IV. Solicitation of Comments
the places specified in Item IV below.
Interested persons are invited to The Exchange has prepared summaries,
submit written data, views, and SECURITIES AND EXCHANGE
set forth in sections A, B, and C below,
arguments concerning the foregoing, COMMISSION
of the most significant parts of such
including whether the proposed rule statements.
[Release No. 34–81603; File No. SR–
change is consistent with the Act. NYSEARCA–2017–102]
Comments may be submitted by any of A. Self-Regulatory Organization’s
the following methods: Self-Regulatory Organizations; NYSE Statement of the Purpose of, and the
Arca, Inc.; Notice of Filing and Statutory Basis for, the Proposed Rule
Electronic Comments Change
Immediate Effectiveness of Proposed
• Use the Commission’s Internet Rule Change To Amend NYSE Arca 1. Purpose
comment form (http://www.sec.gov/ Rule 7.35–E, NYSE Arca Rule 7.31–E
rules/sro.shtml); or The Exchange proposes to amend (i)
and NYSE Arca Rule 7.23–E
• Send an email to rule-comments@ NYSE Arca Rule 7.35–E (Auctions)
sec.gov. Please include File Number SR– September 13, 2017. (‘‘Rule 7.35–E’’) to provide that MOO,
Phlx–2017–72 on the subject line. Pursuant to Section 19(b)(1) 1 of the LOO, and IO Orders would be cancelled
Securities Exchange Act of 1934 (the if the Re-Opening Time for a Trading
Paper Comments
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Halt Auction would be in the last ten
• Send paper comments in triplicate notice is hereby given that, on August minutes of trading before the end of
to Secretary, Securities and Exchange 31, 2017, NYSE Arca, Inc. (the Core Trading Hours; (ii) NYSE Arca
Commission, 100 F Street NE., ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with Rule 7.31–E (Orders and Modifiers)
Washington, DC 20549–1090. the Securities and Exchange (‘‘Rule 7.31–E’’) regarding IO Orders;
All submissions should refer to File Commission (the ‘‘Commission’’) the and (iii) NYSE Arca Rule 7.23–E
Number SR–Phlx–2017–72. This file proposed rule change as described in (Obligations of Market Makers) (‘‘Rule
number should be included on the Items I and II below, which Items have 7.23–E’’) to amend obsolete cross
subject line if email is used. To help the been prepared by the self-regulatory references.
Commission process and review your organization. The Commission is Rule 7.35–E(e)(10) provides that if the
comments more efficiently, please use publishing this notice to solicit Reopening Time for a Trading Halt
only one method. The Commission will comments on the proposed rule change Auction would be in the last ten
post all comments on the Commission’s from interested persons. minutes of trading before the end of
Internet Web site (http://www.sec.gov/ Core Trading Hours, the Exchange will
rules/sro.shtml). Copies of the I. Self-Regulatory Organization’s not conduct a Trading Halt Auction in
submission, all subsequent Statement of the Terms of Substance of that security, will not transition to
amendments, all written statements the Proposed Rule Change continuous trading, will remain paused,
with respect to the proposed rule The Exchange proposes to amend (i) and will conduct a Closing Auction in
change that are filed with the NYSE Arca Rule 7.35–E (Auctions) to such security as provided for in Rule
Commission, and all written provide that Market-on-Open (‘‘MOO’’), 7.35–E(d). Rule 7.35–E(e)(10)(A) further
communications relating to the Limit-on-Open (‘‘LOO’’) Orders, and provides that in such circumstances,
proposed rule change between the Imbalance Offset (‘‘IO’’) Orders would MOO Orders, LOO Orders, and IO
Commission and any person, other than be cancelled if the Re-Opening Time for Orders entered during the pause or halt
those that may be withheld from the a Trading Halt Auction would be in the will not participate in the Closing
public in accordance with the last ten minutes of trading before the Auction and will expire at the end of
provisions of 5 U.S.C. 552, will be end of Core Trading Hours; (ii) NYSE the Core Trading Session.
available for Web site viewing and Arca Rule 7.31–E (Orders and The Exchange proposes to amend
printing in the Commission’s Public Modifiers) regarding IO Orders; and (iii) Rule 7.35–E(e)(10)(A) to provide that in
Reference Room, 100 F Street NE., NYSE Arca Rule 7.23–E (Obligations of such circumstances, MOO Orders, LOO
Washington, DC 20549, on official Market Makers) to amend obsolete cross Orders, and IO Orders entered during
business days between the hours of the pause or halt will not participate in
sradovich on DSKBBY8HB2PROD with NOTICES

references. The proposed rule change is
10:00 a.m. and 3:00 p.m. Copies of the available on the Exchange’s Web site at the Closing Auction and will be
filing also will be available for www.nyse.com, at the principal office of cancelled. This proposed rule change is
inspection and copying at the principal not intended to make any functional
office of the Exchange. All comments 11 17 CFR 200.30–3(a)(12). changes to when MOO Orders, LOO
received will be posted without change; 1 15 U.S.C. 78s(b)(1). Orders, and IO Orders are eligible to
the Commission does not edit personal 2 15 U.S.C. 78a. trade at the Exchange; these orders still
identifying information from 3 17 CFR 240.19b–4. would not participate in a Closing

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Document Created: 2017-09-16 00:51:55
Document Modified: 2017-09-16 00:51:55
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 43607