82 FR 44013 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Eliminate Third Party Developer Fees From the Schedule of Fees
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 181 (September 20, 2017)
Federal Register Volume 82, Issue 181 (September 20, 2017)
| Page Range | 44013-44014 | |
| FR Document | 2017-19963 |
[Federal Register Volume 82, Number 181 (Wednesday, September 20, 2017)] [Notices] [Pages 44013-44014] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-19963] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81610; File No. SR-ISE-2017-82] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Eliminate Third Party Developer Fees From the Schedule of Fees September 14, 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 ISE, LLC (``ISE'' or ``Exchange'') filed with the Securities and Exchange Commission (``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. --------------------------------------------------------------------------- \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 eliminate third party developer fees from the Schedule of Fees. The text of the proposed rule change is available on the Exchange's Web site at www.ise.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 eliminate third party developer fees from the Schedule of Fees. Currently, the Schedule of Fees contains third party developer fees, which were previously charged for third party developer access to the ISE T7 test environment. Specifically, the Schedule of Fees includes the following fees for third party developers: (1) A $1,000 per month one time set-up fee, and (2) a $1,000 per month usage fee. With the migration of the Exchange to Nasdaq INET technology,\3\ which was completed on July 31, 2017, and the upcoming decommissioning of the T7 trading system, including the test environment, the Exchange no longer charges these third party developer fees. The Exchange therefore proposes to remove these fees from the Schedule of Fees. The Exchange believes that removing these fees from the Schedule of Fees will reduce member confusion about services offered by the Exchange, and the fees charged for those services, as with the migration to Nasdaq INET no services are currently offered that could incur these charges. --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 80432 (April 11, 2017), 82 FR 18191 (April 17, 2017) (SR-ISE-2017-03). --------------------------------------------------------------------------- 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 Sections 6(b)(4) and 6(b)(5) of the Act,\5\ in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among members and issuers and other persons using any facility, and is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. The Exchange believes that the proposed fee change is reasonable, equitable, and not unfairly discriminatory as it eliminates third party developer fees that are no longer charged with the migration of the Exchange's trading system to Nasdaq INET technology. As explained above, the Exchange completed its migration to Nasdaq INET on July 31, 2017 and therefore does not provide access to the ISE T7 test facility that was the subject of this fee. Since the Exchange no longer provides this service, the Exchange believes that removing the associated fee from the Schedule of Fees will reduce member confusion about services offered by the Exchange, and the fees charged for those services. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- 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 that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange is removing outdated third party developer fees from the Schedule of Fees as the related services will no long be offered with the completed migration of the Exchange to Nasdaq INET. As such, the Exchange does not believe that the proposed rule change will have any significant impact on competition. 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 The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act,\6\ and Rule 19b-4(f)(2) \7\ thereunder. 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. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(A)(ii). \7\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- 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. [[Page 44014]] 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-ISE-2017-82 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-ISE-2017-82. 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-ISE-2017-82 and should be submitted on or before October 11, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-19963 Filed 9-19-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 181 / Wednesday, September 20, 2017 / Notices 44013
Commission pursuant to Rule 608 of concerning the purpose of and basis for longer charged with the migration of the
Regulation NMS or in any other the proposed rule change and discussed Exchange’s trading system to Nasdaq
appropriate forum. any comments it received on the INET technology. As explained above,
proposed rule change. The text of these the Exchange completed its migration to
IV. Conclusion
statements may be examined at the Nasdaq INET on July 31, 2017 and
It is therefore ordered, pursuant to places specified in Item IV below. The therefore does not provide access to the
Section 19(b)(2) of the Act, that the Exchange has prepared summaries, set ISE T7 test facility that was the subject
proposed rule changes (SR–CHX–2017– forth in sections A, B, and C below, of of this fee. Since the Exchange no longer
11; SR–FINRA–2017–020), as modified the most significant aspects of such provides this service, the Exchange
by the Amendments, are approved. statements. believes that removing the associated
For the Commission, by the Division of A. Self-Regulatory Organization’s fee from the Schedule of Fees will
Trading and Markets, pursuant to delegated Statement of the Purpose of, and reduce member confusion about
authority.59 services offered by the Exchange, and
Statutory Basis for, the Proposed Rule
Eduardo A. Aleman, Change the fees charged for those services.
Assistant Secretary. B. Self-Regulatory Organization’s
[FR Doc. 2017–19968 Filed 9–19–17; 8:45 am]
1. Purpose
Statement on Burden on Competition
BILLING CODE 8011–01–P The purpose of the proposed rule
change is to eliminate third party The Exchange does not believe that
developer fees from the Schedule of the proposed rule change will impose
SECURITIES AND EXCHANGE Fees. Currently, the Schedule of Fees any burden on competition that is not
COMMISSION contains third party developer fees, necessary or appropriate in furtherance
which were previously charged for third of the purposes of the Act. The
[Release No. 34–81610; File No. SR–ISE– Exchange is removing outdated third
2017–82] party developer access to the ISE T7 test
environment. Specifically, the Schedule party developer fees from the Schedule
Self-Regulatory Organizations; Nasdaq of Fees includes the following fees for of Fees as the related services will no
ISE, LLC; Notice of Filing and third party developers: (1) A $1,000 per long be offered with the completed
Immediate Effectiveness of Proposed month one time set-up fee, and (2) a migration of the Exchange to Nasdaq
Rule Change To Eliminate Third Party $1,000 per month usage fee. With the INET. As such, the Exchange does not
Developer Fees From the Schedule of migration of the Exchange to Nasdaq believe that the proposed rule change
Fees INET technology,3 which was will have any significant impact on
completed on July 31, 2017, and the competition.
September 14, 2017. upcoming decommissioning of the T7 C. Self-Regulatory Organization’s
Pursuant to Section 19(b)(1) of the trading system, including the test Statement on Comments on the
Securities Exchange Act of 1934 environment, the Exchange no longer Proposed Rule Change Received From
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 charges these third party developer fees. Members, Participants, or Others
notice is hereby given that on The Exchange therefore proposes to
September 1, 2017, Nasdaq ISE, LLC remove these fees from the Schedule of No written comments were either
(‘‘ISE’’ or ‘‘Exchange’’) filed with the Fees. The Exchange believes that solicited or received.
Securities and Exchange Commission removing these fees from the Schedule III. Date of Effectiveness of the
(‘‘Commission’’) the proposed rule of Fees will reduce member confusion Proposed Rule Change and Timing for
change as described in Items I and II, about services offered by the Exchange, Commission Action
below, which Items have been prepared and the fees charged for those services,
by the Exchange. The Commission is The foregoing rule change has become
as with the migration to Nasdaq INET
publishing this notice to solicit effective pursuant to Section
no services are currently offered that
comments on the proposed rule change 19(b)(3)(A)(ii) of the Act,6 and Rule
could incur these charges.
from interested persons. 19b–4(f)(2) 7 thereunder. At any time
2. Statutory Basis within 60 days of the filing of the
I. Self-Regulatory Organization’s proposed rule change, the Commission
The Exchange believes that its
Statement of the Terms of Substance of summarily may temporarily suspend
proposal is consistent with Section 6(b)
the Proposed Rule Change such rule change if it appears to the
of the Act,4 in general, and furthers the
The Exchange proposes to eliminate objectives of Sections 6(b)(4) and 6(b)(5) Commission that such action is: (i)
third party developer fees from the of the Act,5 in particular, in that it Necessary or appropriate in the public
Schedule of Fees. provides for the equitable allocation of interest; (ii) for the protection of
The text of the proposed rule change reasonable dues, fees, and other charges investors; or (iii) otherwise in
is available on the Exchange’s Web site among members and issuers and other furtherance of the purposes of the Act.
at www.ise.com, at the principal office persons using any facility, and is not If the Commission takes such action, the
of the Exchange, and at the designed to permit unfair Commission shall institute proceedings
Commission’s Public Reference Room. discrimination between customers, to determine whether the proposed rule
issuers, brokers, or dealers. The should be approved or disapproved.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and Exchange believes that the proposed fee IV. Solicitation of Comments
Statutory Basis for, the Proposed Rule change is reasonable, equitable, and not
sradovich on DSKBBY8HB2PROD with NOTICES
Interested persons are invited to
Change unfairly discriminatory as it eliminates
submit written data, views, and
third party developer fees that are no
In its filing with the Commission, the arguments concerning the foregoing,
Exchange included statements 3 See Securities Exchange Act Release No. 80432
including whether the proposed rule
(April 11, 2017), 82 FR 18191 (April 17, 2017) (SR– change is consistent with the Act.
59 17 CFR 200.30–3(a)(12). ISE–2017–03).
1 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78f(b). 6 15 U.S.C. 78s(b)(3)(A)(ii).
2 17 CFR 240.19b–4. 5 15 U.S.C. 78f(b)(4) and (5). 7 17 CFR 240.19b–4(f)(2).
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![44014 Federal Register / Vol. 82, No. 181 / Wednesday, September 20, 2017 / Notices
Comments may be submitted by any of SECURITIES AND EXCHANGE II. Self-Regulatory Organization’s
the following methods: COMMISSION Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Electronic Comments Change
[Release No. 34–81613; File No. SR–CBOE–
• Use the Commission’s Internet 2017–061) In its filing with the Commission, the
comment form (http://www.sec.gov/ Exchange included statements
rules/sro.shtml); or Self-Regulatory Organizations; concerning the purpose of and basis for
Chicago Board Options Exchange, the proposed rule change and discussed
• Send an email to rule-comments@
Incorporated; Notice of Filing and any comments it received on the
sec.gov. Please include File Number SR–
Immediate Effectiveness of a Proposed proposed rule change. The text of these
ISE–2017–82 on the subject line. statements may be examined at the
Rule Change To Correct an Inadvertent
Paper Comments Marking Error in the Fees Schedule places specified in Item IV below. The
Exchange has prepared summaries, set
• Send paper comments in triplicate September 14, 2017. forth in sections A, B, and C below, of
to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) of the the most significant aspects of such
Commission, 100 F Street NE., Securities Exchange Act of 1934 (the statements.
Washington, DC 20549–1090. ‘‘Act’’),1 and Rule 19b–4 thereunder,2 A. Self-Regulatory Organization’s
All submissions should refer to File notice is hereby given that on Statement of the Purpose of, and
Number SR–ISE–2017–82. This file September 6, 2017, Chicago Board Statutory Basis for, the Proposed Rule
number should be included on the Options Exchange, Incorporated (the Change
subject line if email is used. To help the ‘‘Exchange’’ or ‘‘CBOE’’) filed with the 1. Purpose
Commission process and review your Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule The Exchange proposes to amend its
comments more efficiently, please use
Fees Schedule to correct an inadvertent
only one method. The Commission will change as described in Items I, II, and
marking error made to the Exhibit 5 in
post all comments on the Commission’s III below, which Items have been
a previous rule filing. Specifically, on
Internet Web site (http://www.sec.gov/ prepared by the Exchange. The January 27, 2017, the Exchange filed a
rules/sro.shtml). Copies of the Exchange filed the proposal as a ‘‘non- rule filing, SR–CBOE–2017–011, which
submission, all subsequent controversial’’ proposed rule change proposed to expand the Marketing Fee
amendments, all written statements pursuant to Section 19(b)(3)(A)(iii) of program to Lead Market-Makers and
with respect to the proposed rule the Act 3 and Rule 19b–4(f)(6) also make certain clarifications to
change that are filed with the thereunder.4 The Commission is Footnote 6 of the Fees Schedule (which
Commission, and all written publishing this notice to solicit governs the Marketing Fee program),
communications relating to the comments on the proposed rule change effective February 1, 2017.6 The
proposed rule change between the from interested persons. Exchange notes that it mistakenly used
Commission and any person, other than outdated text contained in Footnote 6 of
I. Self-Regulatory Organization’s the Fees Schedule in the Exhibit 5 of
those that may be withheld from the Statement of the Terms of Substance of
public in accordance with the that filing. Particularly, prior to filing
the Proposed Rule Change SR–CBOE–2017–011, Footnote 6
provisions of 5 U.S.C. 552, will be
available for Web site viewing and The Exchange proposes to amend its included the statement that ‘‘. . . the
printing in the Commission’s Public marketing fee shall not apply to DJX,
Fees Schedule to correct an inadvertent
Reference Room, 100 F Street NE., MXEA, MXEF, MNX, NDX, XSP or
marking error made to the Exhibit 5 in
Underlying Symbol List A (34)
Washington, DC 20549, on official a previous rule filing. Specifically, on excluding binaries options.’’ 7 The
business days between the hours of January 27, 2017, the Exchange filed a Exhibit 5 filed in SR–CBOE–2017–011
10:00 a.m. and 3:00 p.m. Copies of the rule filing, SR–CBOE–2017–011, which however, inadvertently left out the
filing also will be available for proposed to expand the Marketing Fee reference to ‘‘MXEA, MXEF, MNX,
inspection and copying at the principal program to Lead Market-Makers and NDX’’ in that same sentence. The
office of the Exchange. All comments also make certain clarifications to Exchange notes that it was not its
received will be posted without change; Footnote 6 of the Fees Schedule (which intention to start including those
the Commission does not edit personal governs the Marketing Fee program), products in the Marketing Fee program
identifying information from effective February 1, 2017.5 and also notes that no such change was
submissions. You should submit only otherwise referenced or implied in the
The text of the proposed rule change
information that you wish to make 19b–4 of SR–CBOE–2017–011 or any
is also available on the Exchange’s Web
available publicly. All submissions other filing since then.8 Rather it was an
site (http://www.cboe.com/AboutCBOE/
should refer to File Number SR–ISE– inadvertent mistake that the Exchange
CBOELegalRegulatoryHome.aspx), at
2017–82 and should be submitted on or seeks to correct. Accordingly, the
the Exchange’s Office of the Secretary,
before October 11, 2017. Exchange proposes to add back the
and at the Commission’s Public
For the Commission, by the Division of Reference Room. 6 See Securities Exchange Act Release No. 80003
Trading and Markets, pursuant to delegated (February 9, 2017), 82 FR 10846 (February 15, 2017)
sradovich on DSKBBY8HB2PROD with NOTICES
authority.8 (SR–CBOE–2017–011).
1 15 U.S.C. 78s(b)(1). 7 See Securities Exchange Act Release No. 76923
Eduardo A. Aleman,
2 17 CFR 240.19b–4. (January 15, 2016), 81 FR 3841 (January 22, 2016)
Assistant Secretary. (SR–CBOE–2016–002), which rule filing was the
3 15 U.S.C. 78s(b)(3)(A)(iii).
[FR Doc. 2017–19963 Filed 9–19–17; 8:45 am] last rule filing before SR–CBOE–2017–011 to amend
4 17 CFR 240.19b–4(f)(6).
Footnote 6 of the Fees Schedule.
BILLING CODE 8011–01–P 5 See Securities Exchange Act Release No. 80003 8 See Securities Exchange Act Release No. 80003
(February 9, 2017), 82 FR 10846 (February 15, 2017) (February 9, 2017), 82 FR 10846 (February 15, 2017)
8 17 CFR 200.30–3(a)(12). (SR–CBOE–2017–011). (SR–CBOE–2017–011).
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Document Created: 2018-10-24 14:21:04
Document Modified: 2018-10-24 14:21:04
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 82 FR 44013 |
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