82 FR 50475 - Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE American Equities Rules 7.31E To Establish a Minimum Dollar Threshold Into the Price Protection Mechanisms
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 209 (October 31, 2017)
Federal Register Volume 82, Issue 209 (October 31, 2017)
| Page Range | 50475-50476 | |
| FR Document | 2017-23581 |
[Federal Register Volume 82, Number 209 (Tuesday, October 31, 2017)] [Notices] [Pages 50475-50476] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-23581] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-81943; File No. SR-NYSEAMER-2017-25] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend NYSE American Equities Rules 7.31E To Establish a Minimum Dollar Threshold Into the Price Protection Mechanisms October 25, 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 October 13, 2017, NYSE American LLC (the ``Exchange'' or ``NYSE American'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II 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. --------------------------------------------------------------------------- \1\ 15 U.S.C.78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 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 amend NYSE American Equities Rules 7.31E (Orders and Modifiers) to establish a minimum dollar threshold into the price protection mechanisms provided for in the rule. 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. 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 The Exchange proposes to amend NYSE American Equities Rules 7.31E (Orders and Modifiers) (``Rule 7.31E'') to establish a minimum dollar threshold into the price protection mechanisms provided for in the rule. Background Rule 7.31E(a)(1)(B) describes the price protection mechanism for Market Orders, i.e., Trading Collars. Currently, Rule 7.31E(a)(1)(B)(i) provides that the Trading Collar will be based on a price that is a specified percentage away from the consolidated last sale price. Rule 7.31E(a)(1)(B)(i) further provides that the upper (lower) boundary of the Trading Collar is the consolidated last sale price increased (decreased) by the specified percentage truncated to the minimum price variation (``MPV'') for the security. Additionally, Rule 7.31E(a)(2)(B) (``Limit Order Price Protection'') provides the price protection mechanism for Limit Orders and that a Limit Order to buy (sell) will be rejected if it is priced at or above (below) a specified percentage away from the National Best Offer (National Best Bid) (``NBO'' and ``NBB'', respectively). Proposed ChangesTrading Collar: The Exchange proposes to amend Rule 7.31E(a)(1)(B)(i) to introduce a minimum dollar threshold, of $0.15, into the calculation of the Trading Collar. As such, the proposed rule would provide that the Trading Collar would be based on a price that is the greater of $0.15 or a specified percentage away from the consolidated last sale price. Accordingly, the upper (lower) boundary of the Trading Collar would be the consolidated last sale price increased (decreased), by the greater of $0.15 or the specified percentage. Limit Order Price Protection: The Exchange proposes to amend Rule 7.31E(a)(2)(B) to introduce the same proposed minimum dollar threshold that is specified above for the Trading Collar, of $0.15, into the Limit Order Price Protection calculation. Accordingly, the proposed rule would provide that a Limit Order to buy (sell) would be rejected if it was priced at or above (below) the greater of $0.15 or a specified percentage away from the NBO (NBB). The Exchange believes that the introduction of a minimum dollar threshold enhances the Limit Order Price Protection and encourages price continuity specifically in lower priced illiquid securities. The Exchange believes that adding a minimum dollar threshold to the Trading Collar and Limit Order Price Protection calculations would enhance the respective price protection mechanisms for securities with a consolidated last sale price below $1.50 because using the current 10 percent multiplier for such securities would result in too narrow of a price protection mechanism. This proposed rule change is consistent with how other exchanges specify static price collar thresholds for lower-price securities. For example, NYSE Arca, Inc. (``NYSE Arca'') Rule 7.35-E(e)(7) \4\ provides that for securities with a consolidated last sale price under $3.00, the price collar threshold for auction collars would be a static $0.15 instead of 5 percent.\5\ --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 79846 (January 19, 2017), 82 FR 8548 (January 26, 2017) (SR-NYSEArca-2016-130). \5\ See also Nasdaq Stock Market LLC (``Nasdaq'') Rule 4703(d) (providing that ``any portion of a Primary Pegging Order or Market Pegging Order that would execute . . . at a price more than $0.25 or 5 percent worse that the NBBO . . . will be cancelled)'' and Bats BZX Exchange, Inc. (``Bats'') Rule 27.2, Interpretations and Policies .01 and Bats Rule 11.13 (stating that Bats ``will not execute any portion of a bid at a price more than the greater of 5 cents or 0.5 percent higher than the lowest Protected Offer''). --------------------------------------------------------------------------- In addition, the Exchange proposes to replace the word ``truncated'' with the words ``rounded down'' \6\ in Rule 7.31E(a)(1)(B)(i). The Exchange that believes that conforming the terminology used within Rule 7.31E \7\ and elsewhere in Exchange's rules promotes clarity and transparency. --------------------------------------------------------------------------- \6\ See Rule 7.46E(f)(2)(A), which provides that references to truncating to the MPV in Exchange rules instead mean rounding down to the applicable quoting MPV. \7\ See Rule 7.31E(a)(2)(B) which provides that ``Limit Order Price Protection will be rounded down to the nearest price at the applicable MPV.'' --------------------------------------------------------------------------- [[Page 50476]] Implementation The Exchange anticipates implementing the proposed changes in the fourth quarter of 2017 and will announce the timing of such changes by Trader Update. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Exchange Act,\8\ in general, and with Section 6(b)(5),\9\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, 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. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes the proposed changes would 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, because they would enhance the Exchange's price protection mechanisms, which protect from aberrant prices and reduce the likelihood of halts, thus improving continuous trading and price discovery. Further, the proposal to enhance the price protection mechanisms by adding a minimum dollar threshold would assist with the maintenance of fair and orderly markets because such mechanisms protect investors from potentially receiving executions away from the prevailing market prices at any given time. The proposed changes to introduce the $0.15 minimum dollar threshold is not novel and is similar in nature to that of other national securities exchanges which incorporate dollar thresholds into the calculation of the respective price protection mechanisms.\10\ --------------------------------------------------------------------------- \10\ See supra note 4. --------------------------------------------------------------------------- For similar reasons, the Exchange also believes that the proposed rule change is consistent with Section 6(b)(5) of the Act,\11\ in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, 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. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(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 proposed rule change is not intended to address competitive issues but rather provide for a more effective price protection mechanism, specifically for lower- priced securities. 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 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 \12\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A)(iii). \13\ 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. --------------------------------------------------------------------------- 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-NYSEAMER-2017-25 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-NYSEAMER-2017-25. 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. Persons submitting comments are cautioned that we do not redact or 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-NYSEAMER-2017-25 and should be submitted on or before November 21, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-23581 Filed 10-30-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 209 / Tuesday, October 31, 2017 / Notices 50475
proposed rule change, as modified by II. Self-Regulatory Organization’s increased (decreased), by the greater of
Amendments No. 2 and No. 3, on an Statement of the Purpose of, and $0.15 or the specified percentage.
accelerated basis. Statutory Basis for, the Proposed Rule • Limit Order Price Protection: The
Change Exchange proposes to amend Rule
VI. Conclusion
In its filing with the Commission, the 7.31E(a)(2)(B) to introduce the same
It is therefore ordered, pursuant to
self-regulatory organization included proposed minimum dollar threshold
Section 19(b)(2) of the Act,23 that the
statements concerning the purpose of, that is specified above for the Trading
proposed rule change (SR–BatsBZX–
and basis for, the proposed rule change Collar, of $0.15, into the Limit Order
2017–46), as modified by Amendments
and discussed any comments it received Price Protection calculation.
No. 2 and No. 3 be, and it hereby is,
on the proposed rule change. The text Accordingly, the proposed rule would
approved on an accelerated basis.
of those statements may be examined at provide that a Limit Order to buy (sell)
For the Commission, by the Division of the places specified in Item IV below. would be rejected if it was priced at or
Trading and Markets, pursuant to delegated The Exchange has prepared summaries,
authority.24 above (below) the greater of $0.15 or a
set forth in sections A, B, and C below, specified percentage away from the
Eduardo A. Aleman, of the most significant parts of such NBO (NBB). The Exchange believes that
Assistant Secretary. statements. the introduction of a minimum dollar
[FR Doc. 2017–23583 Filed 10–30–17; 8:45 am]
A. Self-Regulatory Organization’s threshold enhances the Limit Order
BILLING CODE 8011–01–P
Statement of the Purpose of, and the Price Protection and encourages price
Statutory Basis for, the Proposed Rule continuity specifically in lower priced
SECURITIES AND EXCHANGE Change illiquid securities.
COMMISSION 1. Purpose The Exchange believes that adding a
minimum dollar threshold to the
[Release No. 34–81943; File No. SR– The Exchange proposes to amend
NYSEAMER–2017–25] Trading Collar and Limit Order Price
NYSE American Equities Rules 7.31E Protection calculations would enhance
(Orders and Modifiers) (‘‘Rule 7.31E’’) to the respective price protection
Self-Regulatory Organizations; NYSE establish a minimum dollar threshold
American LLC; Notice of Filing and mechanisms for securities with a
into the price protection mechanisms
Immediate Effectiveness of Proposed consolidated last sale price below $1.50
provided for in the rule.
Rule Change To Amend NYSE because using the current 10 percent
American Equities Rules 7.31E To Background multiplier for such securities would
Establish a Minimum Dollar Threshold Rule 7.31E(a)(1)(B) describes the price result in too narrow of a price protection
Into the Price Protection Mechanisms protection mechanism for Market mechanism. This proposed rule change
Orders, i.e., Trading Collars. Currently, is consistent with how other exchanges
October 25, 2017.
Rule 7.31E(a)(1)(B)(i) provides that the specify static price collar thresholds for
Pursuant to Section 19(b)(1) 1 of the lower-price securities. For example,
Securities Exchange Act of 1934 (the Trading Collar will be based on a price
that is a specified percentage away from NYSE Arca, Inc. (‘‘NYSE Arca’’) Rule
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
the consolidated last sale price. Rule 7.35–E(e)(7) 4 provides that for securities
notice is hereby given that on October
7.31E(a)(1)(B)(i) further provides that with a consolidated last sale price under
13, 2017, NYSE American LLC (the
the upper (lower) boundary of the $3.00, the price collar threshold for
‘‘Exchange’’ or ‘‘NYSE American’’) filed
Trading Collar is the consolidated last auction collars would be a static $0.15
with the Securities and Exchange
sale price increased (decreased) by the instead of 5 percent.5
Commission (the ‘‘Commission’’) the
proposed rule change as described in specified percentage truncated to the In addition, the Exchange proposes to
Items I and II below, which Items have minimum price variation (‘‘MPV’’) for replace the word ‘‘truncated’’ with the
been prepared by the self-regulatory the security. words ‘‘rounded down’’ 6 in Rule
Additionally, Rule 7.31E(a)(2)(B) 7.31E(a)(1)(B)(i). The Exchange that
organization. The Commission is
(‘‘Limit Order Price Protection’’) believes that conforming the
publishing this notice to solicit
provides the price protection terminology used within Rule 7.31E 7
comments on the proposed rule change
mechanism for Limit Orders and that a and elsewhere in Exchange’s rules
from interested persons.
Limit Order to buy (sell) will be rejected promotes clarity and transparency.
I. Self-Regulatory Organization’s if it is priced at or above (below) a
Statement of the Terms of Substance of specified percentage away from the 4 See Securities Exchange Act Release No. 79846
the Proposed Rule Change National Best Offer (National Best Bid) (January 19, 2017), 82 FR 8548 (January 26, 2017)
The Exchange proposes to amend (‘‘NBO’’ and ‘‘NBB’’, respectively). (SR–NYSEArca–2016–130).
5 See also Nasdaq Stock Market LLC (‘‘Nasdaq’’)
NYSE American Equities Rules 7.31E Proposed Changes Rule 4703(d) (providing that ‘‘any portion of a
(Orders and Modifiers) to establish a
• Trading Collar: The Exchange Primary Pegging Order or Market Pegging Order that
minimum dollar threshold into the price would execute . . . at a price more than $0.25 or
proposes to amend Rule 7.31E(a)(1)(B)(i)
protection mechanisms provided for in 5 percent worse that the NBBO . . . will be
to introduce a minimum dollar cancelled)’’ and Bats BZX Exchange, Inc. (‘‘Bats’’)
the rule. The proposed rule change is
threshold, of $0.15, into the calculation Rule 27.2, Interpretations and Policies .01 and Bats
available on the Exchange’s Web site at Rule 11.13 (stating that Bats ‘‘will not execute any
asabaliauskas on DSKBBXCHB2PROD with NOTICES
of the Trading Collar. As such, the
www.nyse.com, at the principal office of portion of a bid at a price more than the greater of
proposed rule would provide that the
the Exchange, and at the Commission’s 5 cents or 0.5 percent higher than the lowest
Trading Collar would be based on a Protected Offer’’).
Public Reference Room.
price that is the greater of $0.15 or a 6 See Rule 7.46E(f)(2)(A), which provides that
23 Id. specified percentage away from the references to truncating to the MPV in Exchange
consolidated last sale price. rules instead mean rounding down to the applicable
24 17 CFR 200.30–3(a)(12). quoting MPV.
1 15 U.S.C.78s(b)(1). Accordingly, the upper (lower) 7 See Rule 7.31E(a)(2)(B) which provides that
2 15 U.S.C. 78a. boundary of the Trading Collar would ‘‘Limit Order Price Protection will be rounded
3 17 CFR 240.19b–4. be the consolidated last sale price down to the nearest price at the applicable MPV.’’
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![50476 Federal Register / Vol. 82, No. 209 / Tuesday, October 31, 2017 / Notices
Implementation and, in general, to protect investors and Electronic Comments
The Exchange anticipates the public interest.
• Use the Commission’s Internet
implementing the proposed changes in B. Self-Regulatory Organization’s comment form (http://www.sec.gov/
the fourth quarter of 2017 and will Statement on Burden on Competition rules/sro.shtml); or
announce the timing of such changes by
The Exchange does not believe that • Send an email to rule-comments@
Trader Update.
the proposed rule change will impose sec.gov. Please include File Number SR–
2. Statutory Basis any burden on competition that is not NYSEAMER–2017–25 on the subject
The Exchange believes that the necessary or appropriate in furtherance line.
proposed rule change is consistent with of the purposes of the Act. The
Section 6(b) of the Exchange Act,8 in proposed rule change is not intended to Paper Comments
general, and with Section 6(b)(5),9 in address competitive issues but rather
provide for a more effective price • Send paper comments in triplicate
particular, because it is designed to
protection mechanism, specifically for to Secretary, Securities and Exchange
prevent fraudulent and manipulative
lower-priced securities. Commission, 100 F Street NE.,
acts and practices, to promote just and
equitable principles of trade, to foster Washington, DC 20549–1090.
C. Self-Regulatory Organization’s
cooperation and coordination with Statement on Comments on the All submissions should refer to File
persons engaged in facilitating Proposed Rule Change Received From Number SR–NYSEAMER–2017–25. This
transactions in securities, to remove Members, Participants, or Others file number should be included on the
impediments to, and perfect the subject line if email is used. To help the
No written comments were solicited
mechanism of, a free and open market Commission process and review your
or received with respect to the proposed
and a national market system and, in comments more efficiently, please use
rule change.
general, to protect investors and the only one method. The Commission will
public interest. III. Date of Effectiveness of the post all comments on the Commission’s
The Exchange believes the proposed Proposed Rule Change and Timing for Internet Web site (http://www.sec.gov/
changes would remove impediments to Commission Action
rules/sro.shtml). Copies of the
and perfect the mechanism of a free and Because the foregoing proposed rule
open market and a national market submission, all subsequent
change does not: (i) Significantly affect amendments, all written statements
system, and in general, to protect the protection of investors or the public
investors and the public interest, with respect to the proposed rule
interest; (ii) impose any significant change that are filed with the
because they would enhance the burden on competition; and (iii) become
Exchange’s price protection Commission, and all written
operative for 30 days from the date on communications relating to the
mechanisms, which protect from which it was filed, or such shorter time
aberrant prices and reduce the proposed rule change between the
as the Commission may designate, it has Commission and any person, other than
likelihood of halts, thus improving become effective pursuant to Section
continuous trading and price discovery. those that may be withheld from the
19(b)(3)(A)(iii) of the Act 12 and
Further, the proposal to enhance the public in accordance with the
subparagraph (f)(6) of Rule 19b–4
price protection mechanisms by adding thereunder.13 provisions of 5 U.S.C. 552, will be
a minimum dollar threshold would At any time within 60 days of the available for Web site viewing and
assist with the maintenance of fair and filing of the proposed rule change, the printing in the Commission’s Public
orderly markets because such Commission summarily may Reference Room, 100 F Street NE.,
mechanisms protect investors from temporarily suspend such rule change if Washington, DC 20549, on official
potentially receiving executions away it appears to the Commission that such business days between the hours of
from the prevailing market prices at any action is: (i) Necessary or appropriate in 10:00 a.m. and 3:00 p.m. Copies of the
given time. The proposed changes to the public interest; (ii) for the protection filing also will be available for
introduce the $0.15 minimum dollar of investors; or (iii) otherwise in inspection and copying at the principal
threshold is not novel and is similar in furtherance of the purposes of the Act. office of the Exchange. All comments
nature to that of other national If the Commission takes such action, the received will be posted without change.
securities exchanges which incorporate Commission shall institute proceedings Persons submitting comments are
dollar thresholds into the calculation of to determine whether the proposed rule cautioned that we do not redact or edit
the respective price protection should be approved or disapproved. personal identifying information from
mechanisms.10 submissions. You should submit only
For similar reasons, the Exchange also IV. Solicitation of Comments
information that you wish to make
believes that the proposed rule change Interested persons are invited to available publicly. All submissions
is consistent with Section 6(b)(5) of the submit written data, views, and should refer to File Number SR–
Act,11 in that it is designed to prevent arguments concerning the foregoing, NYSEAMER–2017–25 and should be
fraudulent and manipulative acts and including whether the proposed rule submitted on or before November 21,
practices, to promote just and equitable change is consistent with the Act.
principles of trade, to foster cooperation 2017.
Comments may be submitted by any of
and coordination with persons engaged the following methods: For the Commission, by the Division of
asabaliauskas on DSKBBXCHB2PROD with NOTICES
in facilitating transactions in securities, Trading and Markets, pursuant to delegated
to remove impediments to and perfect 12 15 U.S.C. 78s(b)(3)(A)(iii). authority.14
the mechanism of a free and open 13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– Eduardo A. Aleman,
market and a national market system 4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
Assistant Secretary.
the proposed rule change at least five business days [FR Doc. 2017–23581 Filed 10–30–17; 8:45 am]
8 15 U.S.C. 78f(b). prior to the date of filing of the proposed rule BILLING CODE 8011–01–P
9 15 U.S.C. 78f(b)(5). change, or such shorter time as designated by the
10 See supra note 4.
Commission. The Exchange has satisfied this
11 15 U.S.C. 78f(b)(5). requirement. 14 17 CFR 200.30–3(a)(12).
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Document Created: 2018-10-25 10:17:33
Document Modified: 2018-10-25 10:17:33
| 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 50475 |
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