82 FR 56287 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Bats EDGX Exchange, Inc.; BOX Options Exchange LLC; C2 Options Exchange, Incorporated; Chicago Board Options Exchange, Incorporated; Financial Industry Regulatory Authority, Inc.; International Securities Exchange, LLC; Investors Exchange LLC; Miami International Securities Exchange LLC; MIAX PEARL, LLC; The NASDAQ Stock Market LLC; NASDAQ BX, Inc.; NASDAQ PHLX LLC; New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE MKT LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove the Proposed Rule Changes, as Modified by Amendments Thereto, To Eliminate Requirements That Will Be Duplicative of CAT
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 227 (November 28, 2017)
Federal Register Volume 82, Issue 227 (November 28, 2017)
| Page Range | 56287-56288 | |
| FR Document | 2017-25604 |
[Federal Register Volume 82, Number 227 (Tuesday, November 28, 2017)] [Notices] [Pages 56287-56288] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-25604] [[Page 56287]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82135; File Nos. SR-BatsBZX-2017-37; SR-BatsEDGX-2017- 23; SR-BOX-2017-17; SR-C2-2017-018; SR-CBOE-2017-041; SR-FINRA-2017- 013; SR-ISE-2017-46; SR-IEX-2017-18; SR-MIAX-2017-20; SR-PEARL-2017-23; SR-NASDAQ-2017-055; SR-BX-2017-027; SR-Phlx-2017-43; SR-NYSE-2017-23; SR-NYSEArca-2017-57; SR-NYSEArca-2017-59; SR-NYSEMKT-2017-29; SR- NYSEMKT-2017-30] Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Bats EDGX Exchange, Inc.; BOX Options Exchange LLC; C2 Options Exchange, Incorporated; Chicago Board Options Exchange, Incorporated; Financial Industry Regulatory Authority, Inc.; International Securities Exchange, LLC; Investors Exchange LLC; Miami International Securities Exchange LLC; MIAX PEARL, LLC; The NASDAQ Stock Market LLC; NASDAQ BX, Inc.; NASDAQ PHLX LLC; New York Stock Exchange LLC; NYSE Arca, Inc.; NYSE MKT LLC; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove the Proposed Rule Changes, as Modified by Amendments Thereto, To Eliminate Requirements That Will Be Duplicative of CAT November 21, 2017. On May 15, 2017, Bats BZX Exchange, Inc. (``Bats BZX'') (n/k/a Cboe BZX Exchange, Inc.); \1\ Bats EDGX Exchange, Inc. (``Bats EDGX'') (n/k/ a Cboe EDGX Exchange, Inc.); \2\ BOX Options Exchange LLC (``BOX''); C2 Options Exchange, Incorporated (``C2'') (n/k/a Cboe C2 Exchange, Inc.); \3\ Chicago Board Options Exchange, Incorporated (``CBOE'') (n/k/a Cboe Exchange, Inc.); \4\ Financial Industry Regulatory Authority, Inc. (``FINRA''); International Securities Exchange, LLC (``ISE''); Investors Exchange LLC (``IEX''); Miami International Securities Exchange LLC (``MIAX''); MIAX PEARL, LLC (``PEARL''); NYSE Arca, Inc. (``NYSE Arca''); and NYSE MKT LLC (``NYSE MKT'') (n/k/a NYSE American LLC) \5\ filed with the Securities and Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \6\ and Rule 19b-4 thereunder,\7\ proposed rule changes to eliminate or modify certain rules that require the collection or reporting of information that is duplicative of the information that will be collected by the Consolidated Audit Trail (``CAT'') established pursuant to the National Market System Plan contemplated by Rule 613 of Regulation NMS.\8\ On May 22, 2017, the New York Stock Exchange LLC (``NYSE'') filed with the Commission a proposed rule change for the same purpose, and each of NYSE Arca and NYSE MKT filed an additional proposed rule change for the same purpose. On May 26, 2017, the NASDAQ Stock Market LLC (``NASDAQ'') and NASDAQ PHLX LLC (``Phlx'') filed with the Commission proposed rule changes for the same purpose.\9\ On May 30, 2017, NASDAQ BX, Inc. (``BX'') filed with the Commission a proposed rule change for the same purpose.\10\ In this notice, all of these proposed rule changes are referred to collectively as the ``Systems Retirement Proposals.'' --------------------------------------------------------------------------- \1\ See Securities Exchange Act Release No. 81962 (October 26, 2017), 82 FR 50711 (November 1, 2017) (SR-BatsBZX-2017-70). The name change was not yet effective when Bats BZX filed SR-BatsBZX-2017-37. \2\ See Securities Exchange Act Release No. 81963 (October 26, 2017), 82 FR 50697 (November 1, 2017) (SR-BatsEDGX-2017-41). The name change was not yet effective when Bats EDGX filed SR-BatsEDGX- 2017-23. \3\ See Securities Exchange Act Release No. 81979 (October 30, 2017), 82 FR 51317 (November 3, 2017) (SR-C2-2017-028). The name change was not yet effective when C2 filed SR-C2-2017-018. \4\ See Securities Exchange Act Release No. 81981 (October 30, 2017), 82 FR 51309 (November 3, 2017) (SR-CBOE-2017-066). The name change was not yet effective when CBOE filed SR-CBOE-2017-041. \5\ See Securities Exchange Act Release No. 80283 (March 21, 2017), 82 FR 15244 (March 27, 2017) (SR-NYSEMKT-2017-14). The name change was not yet effective when NYSE MKT filed SR-NYSEMKT-2017-29 and SR-NYSEMKT-2017-30. \6\ 15 U.S.C. 78s(b)(1). \7\ 17 CFR 240.19b-4. \8\ 17 CFR 242.613. \9\ NASDAQ and Phlx initially filed proposed rule changes on May 15, 2017 (SR-NASDAQ-2017-050 and SR-PHLX-2017-38). On May 26, 2017, NASDAQ and Phlx withdrew these filings and submitted new proposed rule changes (SR-NASDAQ-2017-055 and SR-PHLX-2017-43). \10\ BX initially filed a proposed rule change on May 15, 2017 (SR-BX-2017-025). On May 30, 2017, BX withdrew that initial filing and submitted a new proposed rule change (SR-BX-2017-027). --------------------------------------------------------------------------- On June 1, 2017, the proposed rule changes submitted by Bats BZX, Bats EDGX, BOX, C2, CBOE, FINRA, IEX, ISE, MIAX, and PEARL; both proposed rule changes submitted by NYSE MKT; and one of the proposed rule changes submitted by NYSE Arca were published for comment in the Federal Register.\11\ On June 2, 2017, the proposed rule change submitted by NYSE and the other proposed rule change submitted by NYSE Arca were published for comment in the Federal Register.\12\ On June 5, 2017, the proposed rule changes submitted by NASDAQ, BX, and Phlx were published for comment in the Federal Register.\13\ --------------------------------------------------------------------------- \11\ See Securities Exchange Act Release No. 80796 (May 26, 2017), 82 FR 25374 (SR-BatsBZX-2017-37); Securities Exchange Act Release No. 80795 (May 26, 2017), 82 FR 25358 (SR-BatsEDGX-2017-23); Securities Exchange Act Release No. 80789 (May 26, 2017), 82 FR 25492 (SR-BOX-2017-17); Securities Exchange Act Release No. 80798 (May 26, 2017), 82 FR 25385 (SR-C2-2017-018); Securities Exchange Act Release No. 80797 (May 26, 2017), 82 FR 25429 (SR-CBOE-2017- 041); Securities Exchange Act Release No. 80783 (May 26, 2017), 82 FR 25423 (SR-FINRA-2017-013); Securities Exchange Act Release No. 80788 (May 26, 2017), 82 FR 25400 (SR-IEX-2017-18); Securities Exchange Act Release No. 80787 (May 26, 2017), 82 FR 25469 (SR-ISE- 2017-46); Securities Exchange Act Release No. 80790 (May 26, 2017), 82 FR 25366 (SR-MIAX-2017-20); Securities Exchange Act Release No. 80792 (May 26, 2017), 82 FR 25436 (SR-PEARL-2017-23); Securities Exchange Act Release No. 80791 (May 26, 2017), 82 FR 25362 (SR- NYSEArca-2017-59); Securities Exchange Act Release No. 80793 (May 26, 2017), 82 FR 25443 (SR-NYSEMKT-2017-29); Securities Exchange Act Release No. 80794 (May 26, 2017), 82 FR 25439 (SR-NYSEMKT-2017-30). \12\ See Securities Exchange Act Release No. 80799 (May 26, 2017), 82 FR 25635 (SR-NYSE-2017-23); Securities Exchange Act Release No. 80800 (May 26, 2017), 82 FR 25639 (SR-NYSEArca-2017-57). \13\ See Securities Exchange Act Release No. 80813 (May 30, 2017), 82 FR 25820 (SR-NASDAQ-2017-055); Securities Exchange Act Release No. 80814 (May 30, 2017), 82 FR 25872 (SR-BX-2017-027); Securities Exchange Act Release No. 80811 (May 30, 2017), 82 FR 25863 (SR-Phlx-2017-43). --------------------------------------------------------------------------- Four comments were submitted to File Number SR-FINRA-2017-013.\14\ --------------------------------------------------------------------------- \14\ See letters from William H. Herbert, Managing Director, Financial Information Forum (``FIF''), dated June 22, 2017; Manisha Kimmel, Chief Regulatory Officer, Wealth Management, Thomson Reuters, dated June 22, 2017; Marc R. Bryant, Senior Vice President, Deputy General Counsel, Fidelity Investments, dated June 22, 2017; and Ellen Greene, Managing Director and Theodore R. Lazo, Managing Director and Associate General Counsel, Securities Industry and Financial Markets Association (``SIFMA''), dated June 23, 2017. --------------------------------------------------------------------------- On June 22, 2017, each of NASDAQ, BX, ISE, and Phlx filed an amendment to its proposed rule change. On July 14, 2017, the Commission extended the time period for Commission action on all of the Systems Retirement Proposals to August 30, 2017.\15\ --------------------------------------------------------------------------- \15\ See Securities Exchange Act Release No. 81145, 82 FR 33533 (July 20, 2017). --------------------------------------------------------------------------- On August 24, 2017, BOX submitted Amendment No. 1 to its proposed rule change, IEX submitted Amendment No. 1 to its proposed rule change, PEARL submitted Amendment No. 2 to its proposed rule change,\16\ and MIAX submitted Amendment No. 3 to its proposed rule change.\17\ On August 25, 2017, Bats BZX submitted Amendment No. 1 to its proposed rule change, Bats EDGX submitted Amendment No. 1 to its proposed rule change, BX submitted Amendment No. 2 to its proposed rule [[Page 56288]] change, C2 submitted Amendment No. 1 to its proposed rule change, CBOE submitted Amendment No. 1 to its proposed rule change, FINRA submitted Amendment No. 1 to its proposed rule change, ISE submitted Amendment No. 2 to its proposed rule change, NASDAQ submitted Amendment No. 2 to its proposed rule change, NYSE submitted Amendment No. 1 to its proposed rule change, NYSE Arca submitted Amendment No. 1 to each of its proposed rule changes, NYSE MKT submitted Amendment No. 1 to each of its proposed rule changes, and Phlx submitted Amendment No. 2 to its proposed rule change. --------------------------------------------------------------------------- \16\ PEARL filed Amendment No. 1 to its proposed rule change on August 22, 2017. On August 24, 2017, PEARL withdrew Amendment No. 1 and replaced it with Amendment No. 2. \17\ MIAX filed Amendment No. 1 to its proposed rule change on August 22, 2017 and withdrew and replaced it with Amendment No. 2 on the same day. On August 24, 2017, MIAX withdrew Amendment No. 2 and replaced it with Amendment No. 3. --------------------------------------------------------------------------- On August 30, 2017, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act \18\ to determine whether to approve or disapprove the proposed rule changes, as modified by the respective amendments thereto.\19\ Since then, the Commission has received eight additional comment letters on the proposed rule changes, including a response from FINRA and a response from the CAT NMS Plan Operating Committee Chair on behalf of Bats BZX, Bats EDGX, BOX, C2, CBOE, IEX, ISE, MIAX, NASDAQ, BX, Phlx, NYSE, NYSE Arca, NYSE MKT, and PEARL.\20\ --------------------------------------------------------------------------- \18\ 15 U.S.C. 78s(b)(2)(B). \19\ See Securities Exchange Act Release No. 81499, 82 FR 42168 (September 6, 2017) (``OIP''). \20\ Six substantive comment letters were submitted in response to the OIP. See letters from Manisha Kimmel, Chief Regulatory Officer, Wealth Management, Thomson Reuters, dated September 27, 2017; William H. Herbert, Managing Director, FIF, dated September 29, 2017; Ellen Greene, Managing Director and Theodore R. Lazo, Managing Director and Associate General Counsel, SIFMA, dated September 29, 2017; Brant K. Brown, Associate General Counsel, FINRA, dated October 11, 2017; William H. Herbert, Managing Director, FIF, dated November 2, 2017; and Michael Simon, CAT NMS Plan Operating Committee Chair, dated November 2, 2017. A seventh letter in response to the OIP requested additional time to submit comments on the proposed rule changes. See letter from William H. Herbert, Managing Director, FIF, dated September 27, 2017. The eighth comment letter was submitted solely to File Number SR-Phlx- 2017-43. See letter from Michael Kitlas, dated November 14, 2017. --------------------------------------------------------------------------- Section 19(b)(2) of the Act \21\ provides that, after initiating proceedings, the Commission shall issue an order approving or disapproving a proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may, however, extend the period for issuing an order approving or disapproving the proposed rule change by not more than 60 days if the Commission determines that a longer period is appropriate and publishes the reasons for such determination. The proposed rule changes submitted by Bats BZX, Bats EDGX, BOX, C2, CBOE, FINRA, IEX, ISE, MIAX, and PEARL; both proposed rule changes submitted by NYSE MKT; and one of the proposed rule changes submitted by NYSE Arca were published for comment in the Federal Register on June 1, 2017. November 28, 2017, is 180 days from that date, and January 27, 2018, is 240 days from that date. The proposed rule change submitted by NYSE and the other proposed rule change submitted by NYSE Arca were published for comment in the Federal Register on June 2, 2017. November 29, 2017, is 180 days from that date, and January 28, 2018, is 240 days from that date. The proposed rule changes submitted by NASDAQ, BX, and Phlx were published for comment in the Federal Register on June 5, 2017. December 2, 2017, is 180 days from that date, and January 31, 2018, is 240 days from that date. --------------------------------------------------------------------------- \21\ 15 U.S.C. 78s(b)(2). --------------------------------------------------------------------------- The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the Systems Retirement Proposals so that it has sufficient time to consider the Systems Retirement Proposals, as modified by the respective amendments thereto, the issues raised in the comment letters that have been submitted in connection therewith, and FINRA's response to the comments. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,\1\ designates January 27, 2018, as the date by which the Commission should either approve or disapprove the proposed rule changes, as modified by the respective amendments thereto (File Numbers SR-BatsBZX-2017-37; SR-BatsEDGX-2017-23; SR-BOX-2017-17; SR-C2-2017- 018; SR-CBOE-2017-041; SR-FINRA-2017-013; SR-ISE-2017-46; SR-IEX-2017- 18; SR-MIAX-2017-20; SR-PEARL-2017-23; SR-NASDAQ-2017-055; SR-BX-2017- 027; SR-PHLX-2017-43; SR-NYSE-2017-23; SR-NYSEArca-017-57; SR-NYSEArca- 2017-59; SR-NYSEMKT-2017-29; and SR-NYSEMKT-2017-30). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\22\ --------------------------------------------------------------------------- \22\ 17 CFR 200.30-3(a)(12); 17 CFR 200.30-3(a)(57). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-25604 Filed 11-27-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices 56287
SECURITIES AND EXCHANGE (‘‘PEARL’’); NYSE Arca, Inc. (‘‘NYSE proposed rule change submitted by
COMMISSION Arca’’); and NYSE MKT LLC (‘‘NYSE NYSE and the other proposed rule
MKT’’) (n/k/a NYSE American LLC) 5 change submitted by NYSE Arca were
[Release No. 34–82135; File Nos. SR–
BatsBZX–2017–37; SR–BatsEDGX–2017–23;
filed with the Securities and Exchange published for comment in the Federal
SR–BOX–2017–17; SR–C2–2017–018; SR– Commission (‘‘Commission’’), pursuant Register.12 On June 5, 2017, the
CBOE–2017–041; SR–FINRA–2017–013; to Section 19(b)(1) of the Securities proposed rule changes submitted by
SR–ISE–2017–46; SR–IEX–2017–18; SR– Exchange Act of 1934 (‘‘Act’’) 6 and Rule NASDAQ, BX, and Phlx were published
MIAX–2017–20; SR–PEARL–2017–23; SR– 19b–4 thereunder,7 proposed rule for comment in the Federal Register.13
NASDAQ–2017–055; SR–BX–2017–027; SR– changes to eliminate or modify certain Four comments were submitted to
Phlx–2017–43; SR–NYSE–2017–23; SR– rules that require the collection or File Number SR–FINRA–2017–013.14
NYSEArca–2017–57; SR–NYSEArca–2017– reporting of information that is On June 22, 2017, each of NASDAQ,
59; SR–NYSEMKT–2017–29; SR–NYSEMKT– BX, ISE, and Phlx filed an amendment
2017–30]
duplicative of the information that will
be collected by the Consolidated Audit to its proposed rule change. On July 14,
Self-Regulatory Organizations; Bats Trail (‘‘CAT’’) established pursuant to 2017, the Commission extended the
BZX Exchange, Inc.; Bats EDGX the National Market System Plan time period for Commission action on
Exchange, Inc.; BOX Options contemplated by Rule 613 of Regulation all of the Systems Retirement Proposals
Exchange LLC; C2 Options Exchange, NMS.8 On May 22, 2017, the New York to August 30, 2017.15
Incorporated; Chicago Board Options Stock Exchange LLC (‘‘NYSE’’) filed On August 24, 2017, BOX submitted
Exchange, Incorporated; Financial with the Commission a proposed rule Amendment No. 1 to its proposed rule
Industry Regulatory Authority, Inc.; change for the same purpose, and each change, IEX submitted Amendment No.
International Securities Exchange, of NYSE Arca and NYSE MKT filed an 1 to its proposed rule change, PEARL
LLC; Investors Exchange LLC; Miami additional proposed rule change for the submitted Amendment No. 2 to its
International Securities Exchange LLC; same purpose. On May 26, 2017, the proposed rule change,16 and MIAX
MIAX PEARL, LLC; The NASDAQ Stock NASDAQ Stock Market LLC submitted Amendment No. 3 to its
Market LLC; NASDAQ BX, Inc.; (‘‘NASDAQ’’) and NASDAQ PHLX LLC proposed rule change.17 On August 25,
NASDAQ PHLX LLC; New York Stock (‘‘Phlx’’) filed with the Commission 2017, Bats BZX submitted Amendment
Exchange LLC; NYSE Arca, Inc.; NYSE proposed rule changes for the same No. 1 to its proposed rule change, Bats
MKT LLC; Notice of Designation of purpose.9 On May 30, 2017, NASDAQ EDGX submitted Amendment No. 1 to
Longer Period for Commission Action BX, Inc. (‘‘BX’’) filed with the its proposed rule change, BX submitted
on Proceedings To Determine Whether Commission a proposed rule change for Amendment No. 2 to its proposed rule
To Approve or Disapprove the the same purpose.10 In this notice, all of
Proposed Rule Changes, as Modified these proposed rule changes are referred Securities Exchange Act Release No. 80788 (May
26, 2017), 82 FR 25400 (SR–IEX–2017–18);
by Amendments Thereto, To Eliminate to collectively as the ‘‘Systems Securities Exchange Act Release No. 80787 (May
Requirements That Will Be Duplicative Retirement Proposals.’’ 26, 2017), 82 FR 25469 (SR–ISE–2017–46);
of CAT On June 1, 2017, the proposed rule Securities Exchange Act Release No. 80790 (May
changes submitted by Bats BZX, Bats 26, 2017), 82 FR 25366 (SR–MIAX–2017–20);
November 21, 2017. EDGX, BOX, C2, CBOE, FINRA, IEX, Securities Exchange Act Release No. 80792 (May
On May 15, 2017, Bats BZX Exchange, ISE, MIAX, and PEARL; both proposed 26, 2017), 82 FR 25436 (SR–PEARL–2017–23);
Securities Exchange Act Release No. 80791 (May
Inc. (‘‘Bats BZX’’) (n/k/a Cboe BZX rule changes submitted by NYSE MKT; 26, 2017), 82 FR 25362 (SR–NYSEArca–2017–59);
Exchange, Inc.); 1 Bats EDGX Exchange, and one of the proposed rule changes Securities Exchange Act Release No. 80793 (May
Inc. (‘‘Bats EDGX’’) (n/k/a Cboe EDGX submitted by NYSE Arca were 26, 2017), 82 FR 25443 (SR–NYSEMKT–2017–29);
Exchange, Inc.); 2 BOX Options published for comment in the Federal Securities Exchange Act Release No. 80794 (May
26, 2017), 82 FR 25439 (SR–NYSEMKT–2017–30).
Exchange LLC (‘‘BOX’’); C2 Options Register.11 On June 2, 2017, the 12 See Securities Exchange Act Release No. 80799
Exchange, Incorporated (‘‘C2’’) (n/k/a (May 26, 2017), 82 FR 25635 (SR–NYSE–2017–23);
Cboe C2 Exchange, Inc.); 3 Chicago 5 See Securities Exchange Act Release No. 80283 Securities Exchange Act Release No. 80800 (May
Board Options Exchange, Incorporated (March 21, 2017), 82 FR 15244 (March 27, 2017) 26, 2017), 82 FR 25639 (SR–NYSEArca–2017–57).
(‘‘CBOE’’) (n/k/a Cboe Exchange, Inc.); 4 (SR–NYSEMKT–2017–14). The name change was
not yet effective when NYSE MKT filed SR–
13 See Securities Exchange Act Release No. 80813
(May 30, 2017), 82 FR 25820 (SR–NASDAQ–2017–
Financial Industry Regulatory NYSEMKT–2017–29 and SR–NYSEMKT–2017–30. 055); Securities Exchange Act Release No. 80814
Authority, Inc. (‘‘FINRA’’); International 6 15 U.S.C. 78s(b)(1).
(May 30, 2017), 82 FR 25872 (SR–BX–2017–027);
Securities Exchange, LLC (‘‘ISE’’); 7 17 CFR 240.19b–4. Securities Exchange Act Release No. 80811 (May
Investors Exchange LLC (‘‘IEX’’); Miami 8 17 CFR 242.613. 30, 2017), 82 FR 25863 (SR–Phlx–2017–43).
9 NASDAQ and Phlx initially filed proposed rule 14 See letters from William H. Herbert, Managing
International Securities Exchange LLC
changes on May 15, 2017 (SR–NASDAQ–2017–050 Director, Financial Information Forum (‘‘FIF’’),
(‘‘MIAX’’); MIAX PEARL, LLC and SR–PHLX–2017–38). On May 26, 2017, dated June 22, 2017; Manisha Kimmel, Chief
NASDAQ and Phlx withdrew these filings and Regulatory Officer, Wealth Management, Thomson
1 See Securities Exchange Act Release No. 81962 Reuters, dated June 22, 2017; Marc R. Bryant,
submitted new proposed rule changes (SR–
(October 26, 2017), 82 FR 50711 (November 1, 2017) NASDAQ–2017–055 and SR–PHLX–2017–43). Senior Vice President, Deputy General Counsel,
(SR–BatsBZX–2017–70). The name change was not 10 BX initially filed a proposed rule change on Fidelity Investments, dated June 22, 2017; and Ellen
yet effective when Bats BZX filed SR–BatsBZX– May 15, 2017 (SR–BX–2017–025). On May 30, 2017, Greene, Managing Director and Theodore R. Lazo,
2017–37. BX withdrew that initial filing and submitted a new Managing Director and Associate General Counsel,
2 See Securities Exchange Act Release No. 81963
proposed rule change (SR–BX–2017–027). Securities Industry and Financial Markets
(October 26, 2017), 82 FR 50697 (November 1, 2017) 11 See Securities Exchange Act Release No. 80796 Association (‘‘SIFMA’’), dated June 23, 2017.
(SR–BatsEDGX–2017–41). The name change was (May 26, 2017), 82 FR 25374 (SR–BatsBZX–2017–
15 See Securities Exchange Act Release No. 81145,
not yet effective when Bats EDGX filed SR– 37); Securities Exchange Act Release No. 80795 82 FR 33533 (July 20, 2017).
ethrower on DSK3G9T082PROD with NOTICES
BatsEDGX–2017–23. (May 26, 2017), 82 FR 25358 (SR–BatsEDGX–2017– 16 PEARL filed Amendment No. 1 to its proposed
3 See Securities Exchange Act Release No. 81979 rule change on August 22, 2017. On August 24,
23); Securities Exchange Act Release No. 80789
(October 30, 2017), 82 FR 51317 (November 3, 2017) (May 26, 2017), 82 FR 25492 (SR–BOX–2017–17); 2017, PEARL withdrew Amendment No. 1 and
(SR–C2–2017–028). The name change was not yet Securities Exchange Act Release No. 80798 (May replaced it with Amendment No. 2.
effective when C2 filed SR–C2–2017–018. 26, 2017), 82 FR 25385 (SR–C2–2017–018); 17 MIAX filed Amendment No. 1 to its proposed
4 See Securities Exchange Act Release No. 81981 Securities Exchange Act Release No. 80797 (May rule change on August 22, 2017 and withdrew and
(October 30, 2017), 82 FR 51309 (November 3, 2017) 26, 2017), 82 FR 25429 (SR–CBOE–2017–041); replaced it with Amendment No. 2 on the same day.
(SR–CBOE–2017–066). The name change was not Securities Exchange Act Release No. 80783 (May On August 24, 2017, MIAX withdrew Amendment
yet effective when CBOE filed SR–CBOE–2017–041. 26, 2017), 82 FR 25423 (SR–FINRA–2017–013); No. 2 and replaced it with Amendment No. 3.
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![56288 Federal Register / Vol. 82, No. 227 / Tuesday, November 28, 2017 / Notices
change, C2 submitted Amendment No. 1 proposed rule changes submitted by SECURITIES AND EXCHANGE
to its proposed rule change, CBOE Bats BZX, Bats EDGX, BOX, C2, CBOE, COMMISSION
submitted Amendment No. 1 to its FINRA, IEX, ISE, MIAX, and PEARL;
[Release No. 34–82134; File No. SR–MRX–
proposed rule change, FINRA submitted both proposed rule changes submitted 2017–25]
Amendment No. 1 to its proposed rule by NYSE MKT; and one of the proposed
change, ISE submitted Amendment No. rule changes submitted by NYSE Arca Self-Regulatory Organizations; Nasdaq
2 to its proposed rule change, NASDAQ were published for comment in the MRX, LLC; Notice of Filing and
submitted Amendment No. 2 to its Federal Register on June 1, 2017. Immediate Effectiveness of Proposed
proposed rule change, NYSE submitted November 28, 2017, is 180 days from Rule Change To Remove Directed
Amendment No. 1 to its proposed rule Order Functionality
that date, and January 27, 2018, is 240
change, NYSE Arca submitted
days from that date. The proposed rule
Amendment No. 1 to each of its November 21, 2017.
change submitted by NYSE and the Pursuant to Section 19(b)(1) of the
proposed rule changes, NYSE MKT
submitted Amendment No. 1 to each of other proposed rule change submitted Securities Exchange Act of 1934
its proposed rule changes, and Phlx by NYSE Arca were published for (‘‘Act’’),1 and Rule 19b–4 thereunder,2
submitted Amendment No. 2 to its comment in the Federal Register on notice is hereby given that on November
proposed rule change. June 2, 2017. November 29, 2017, is 180 16, 2017, Nasdaq MRX, LLC (‘‘MRX’’ or
On August 30, 2017, the Commission days from that date, and January 28, ‘‘Exchange’’) filed with the Securities
instituted proceedings under Section 2018, is 240 days from that date. The and Exchange Commission
19(b)(2)(B) of the Act 18 to determine proposed rule changes submitted by (‘‘Commission’’) the proposed rule
whether to approve or disapprove the NASDAQ, BX, and Phlx were published change as described in Items I, II, and
proposed rule changes, as modified by for comment in the Federal Register on III, below, which Items have been
the respective amendments thereto.19 June 5, 2017. December 2, 2017, is 180 prepared by the Exchange. The
Since then, the Commission has days from that date, and January 31, Commission is publishing this notice to
received eight additional comment 2018, is 240 days from that date. solicit comments on the proposed rule
letters on the proposed rule changes, The Commission finds it appropriate change from interested persons.
including a response from FINRA and a
to designate a longer period within I. Self-Regulatory Organization’s
response from the CAT NMS Plan
which to issue an order approving or Statement of the Terms of Substance of
Operating Committee Chair on behalf of
disapproving the Systems Retirement the Proposed Rule Change
Bats BZX, Bats EDGX, BOX, C2, CBOE,
IEX, ISE, MIAX, NASDAQ, BX, Phlx, Proposals so that it has sufficient time The Exchange proposes to remove
NYSE, NYSE Arca, NYSE MKT, and to consider the Systems Retirement Directed Order 3 functionality on MRX.
PEARL.20 Proposals, as modified by the respective The text of the proposed rule change
Section 19(b)(2) of the Act 21 provides amendments thereto, the issues raised is available on the Exchange’s Web site
that, after initiating proceedings, the in the comment letters that have been at http://nasdaqmrx.cchwallstreet.com/,
Commission shall issue an order submitted in connection therewith, and at the principal office of the Exchange,
approving or disapproving a proposed FINRA’s response to the comments. and at the Commission’s Public
rule change not later than 180 days after Accordingly, the Commission, pursuant Reference Room.
the date of publication of notice of filing to Section 19(b)(2) of the Act,1 II. Self-Regulatory Organization’s
of the proposed rule change. The designates January 27, 2018, as the date Statement of the Purpose of, and
Commission may, however, extend the by which the Commission should either Statutory Basis for, the Proposed Rule
period for issuing an order approving or approve or disapprove the proposed Change
disapproving the proposed rule change rule changes, as modified by the
by not more than 60 days if the respective amendments thereto (File In its filing with the Commission, the
Commission determines that a longer Exchange included statements
Numbers SR–BatsBZX–2017–37; SR–
period is appropriate and publishes the concerning the purpose of and basis for
BatsEDGX–2017–23; SR–BOX–2017–17;
reasons for such determination. The the proposed rule change and discussed
SR–C2–2017–018; SR–CBOE–2017–041;
any comments it received on the
18 15
SR–FINRA–2017–013; SR–ISE–2017–46; proposed rule change. The text of these
U.S.C. 78s(b)(2)(B).
19 See
SR–IEX–2017–18; SR–MIAX–2017–20; statements may be examined at the
Securities Exchange Act Release No. 81499,
82 FR 42168 (September 6, 2017) (‘‘OIP’’). SR–PEARL–2017–23; SR–NASDAQ– places specified in Item IV below. The
20 Six substantive comment letters were 2017–055; SR–BX–2017–027; SR– Exchange has prepared summaries, set
submitted in response to the OIP. See letters from PHLX–2017–43; SR–NYSE–2017–23;
Manisha Kimmel, Chief Regulatory Officer, Wealth
forth in sections A, B, and C below, of
Management, Thomson Reuters, dated September
SR–NYSEArca–017–57; SR–NYSEArca– the most significant aspects of such
27, 2017; William H. Herbert, Managing Director, 2017–59; SR–NYSEMKT–2017–29; and statements.
FIF, dated September 29, 2017; Ellen Greene, SR–NYSEMKT–2017–30).
Managing Director and Theodore R. Lazo, Managing A. Self-Regulatory Organization’s
Director and Associate General Counsel, SIFMA, For the Commission, by the Division of Statement of the Purpose of, and
dated September 29, 2017; Brant K. Brown, Trading and Markets, pursuant to delegated Statutory Basis for, the Proposed Rule
Associate General Counsel, FINRA, dated October
11, 2017; William H. Herbert, Managing Director,
authority.22 Change
FIF, dated November 2, 2017; and Michael Simon, Eduardo A. Aleman,
CAT NMS Plan Operating Committee Chair, dated
1. Purpose
Assistant Secretary.
ethrower on DSK3G9T082PROD with NOTICES
November 2, 2017. A seventh letter in response to Last year the Exchange filed to delay
the OIP requested additional time to submit [FR Doc. 2017–25604 Filed 11–27–17; 8:45 am]
comments on the proposed rule changes. See letter
the implementation of the Directed
BILLING CODE 8011–01–P
from William H. Herbert, Managing Director, FIF,
1 15 U.S.C. 78s(b)(1).
dated September 27, 2017. The eighth comment
letter was submitted solely to File Number SR– 2 17 CFR 240.19b–4.
Phlx–2017–43. See letter from Michael Kitlas, dated 3 A ‘‘Directed Order’’ is an order routed from an
November 14, 2017. 22 17 CFR 200.30–3(a)(12); 17 CFR 200.30–
Electronic Access Member to an Exchange market
21 15 U.S.C. 78s(b)(2). 3(a)(57). maker through the Exchange’s System.
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Document Created: 2017-11-28 01:51:07
Document Modified: 2017-11-28 01:51:07
| 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 56287 |
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