82_FR_57740 82 FR 57508 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Shell Structure for the Phlx Rulebook

82 FR 57508 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Shell Structure for the Phlx Rulebook

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 232 (December 5, 2017)

Page Range57508-57509
FR Document2017-26123

Federal Register, Volume 82 Issue 232 (Tuesday, December 5, 2017)
[Federal Register Volume 82, Number 232 (Tuesday, December 5, 2017)]
[Notices]
[Pages 57508-57509]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26123]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82169; File No. SR-Phlx-2017-97]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Adopt a Shell 
Structure for the Phlx Rulebook

November 29, 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 November 17, 2017, Nasdaq PHLX LLC (``Phlx'' 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.
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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 the 
Substance of the Proposed Rule Change

    The Exchange proposes to adopt a shell structure for the Phlx 
rulebook (``Rulebook'') as part of its initiative to structure its 
Rulebook.
    The text of the proposed rule change is available on the Exchange's 
Web site at http://nasdaqphlx.cchwallstreet.com/ 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
    On March 9, 2016, Nasdaq, Inc. acquired the capital stock of U.S. 
Exchange Holdings, thereby indirectly acquiring all of the interests of 
the International Securities Exchange, LLC (now Nasdaq ISE, LLC), ISE 
Gemini, LLC (now Nasdaq GEMX, LLC) (``GEMX'') and ISE Mercury, LLC (now 
Nasdaq MRX, LLC) (``MRX'').\3\ The acquisition resulted in a total of 
six self-regulatory organization licenses for Nasdaq, Inc. which, in 
addition to the three aforementioned exchanges, also include The Nasdaq 
Stock Market LLC (``Nasdaq''), Phlx and Nasdaq BX, Inc. (``BX'') 
(collectively, ``Nasdaq Entities'').
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    \3\ See Securities Exchange Act Release No. 78119 (June 21, 
2016), 81 FR 41611 (June 27, 2016) (SR-ISE-2016-11; SR-ISE Gemini-
2016-05; SR-ISE Mercury-2016-10) (Order Granting Accelerated 
Approval of Proposed Rule Changes, Each as Modified by Amendment No. 
1 Thereto, Relating to a Corporate Transaction in Which Nasdaq, Inc. 
Will Become the Indirect Parent of ISE, ISE Gemini, and ISE 
Mercury).
---------------------------------------------------------------------------

    The Exchange is planning to conform the chapters of the various 
Nasdaq Entity rulebooks for efficiency, and conformity of certain 
Nasdaq Entity processes. The Exchange believes that aligning the rules 
of the Nasdaq Entities will assist market participants in navigating 
the various rulebooks. Specifically, the Exchange proposes to add a 
shell structure which would reside alongside the current rulebook. The 
proposed shell would outline the various chapters of the future 
rulebook and contains new chapter numbering. A similar shell would be 
filed to add the same structure to each of the other Nasdaq Entities. 
The proposed chapters would be similar for each shell filed for each of 
the Nasdaq Entities. In subsequent rule changes, each of the Nasdaq 
Entities would file rule changes to move their current rules into the 
various chapters of the proposed shells for all six markets and delete 
the migrated rule from the current location in the Rulebook.\4\ The 
proposed shell would contain a general rule section and product 
specific sections, in this case equities and options, which would 
encompass all the rules of the Exchange.
---------------------------------------------------------------------------

    \4\ When relocating the current rule text into the new shell, 
the Exchange shall not amend the rule text but simply move existing 
rule text.
---------------------------------------------------------------------------

    The Exchange believes this new structure would align the Nasdaq 
Entities' rulebooks for ease of use by Members, who are members of more 
than one Nasdaq Entity. This proposal would not amend the current 
Rulebook and is therefore not a substantive change. A Member would 
continue to be able to view the current Rulebook alongside the proposed 
reorganized Rulebook. Subsequent rule changes will be filed to move the 
rule text into the shell Rulebook.

[[Page 57509]]

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\5\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\6\ 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 starting the process of organizing its rules in a manner which is 
clear and consistent across the Nasdaq Entities. The Exchange believes 
that coordinating the chapters of the rulebooks among the Nasdaq 
Entities will provide Members, who are members of more than one Nasdaq 
Entity, with consistency and ease of reference in locating rules.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 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 not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed changes do not 
impose a burden on competition because the proposed amendments are non-
substantive, are intended to start the process to organize the rules of 
the Exchange in a manner that will be more user-friendly to Nasdaq 
Entity members.

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 \7\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\8\
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    \7\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \8\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the 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 as designated by the Commission.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) 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 requested that the Commission 
waive the 30-day operative delay so that the proposed rule change will 
become operative upon filing. The Exchange states that such waiver will 
enable the Exchange to start the process to reorganize the rulebooks of 
the Nasdaq Entities. The Commission believes that waiver of the 30-day 
operative delay is consistent with the protection of investors and the 
public interest because the proposal does not raise any novel issues 
and waiver will allow the Exchange to begin the reorganization of its 
Rulebook without delay. Therefore, the Commission hereby waives the 
operative delay and designates the proposed rule change operative upon 
filing.\10\
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    \9\ 17 CFR 240.19b-4(f)(6)(iii).
    \10\ For purposes only of waiving the 30-day operative delay, 
the Commission also has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    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-2017-97 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-2017-97. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549 on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change. Persons submitting 
comments are cautioned that we do not redact or edit personal 
identifying information from comment submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number SR-Phlx-2017-97, and should be 
submitted on or before December 26, 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. 2017-26123 Filed 12-4-17; 8:45 am]
 BILLING CODE 8011-01-P



                                                57508                       Federal Register / Vol. 82, No. 232 / Tuesday, December 5, 2017 / Notices

                                                Fund to sell its shares to and redeem its               SECURITIES AND EXCHANGE                                 acquiring all of the interests of the
                                                shares from a Fund of Funds, and to                     COMMISSION                                              International Securities Exchange, LLC
                                                engage in the accompanying in-kind                                                                              (now Nasdaq ISE, LLC), ISE Gemini,
                                                                                                        [Release No. 34–82169; File No. SR–Phlx–
                                                transactions with the Fund of Funds.3                   2017–97]                                                LLC (now Nasdaq GEMX, LLC)
                                                The purchase of Creation Units by a                                                                             (‘‘GEMX’’) and ISE Mercury, LLC (now
                                                Fund of Funds directly from a Fund will                 Self-Regulatory Organizations; Nasdaq                   Nasdaq MRX, LLC) (‘‘MRX’’).3 The
                                                be accomplished in accordance with the                  PHLX LLC; Notice of Filing and                          acquisition resulted in a total of six self-
                                                policies of the Fund of Funds and will                  Immediate Effectiveness of Proposed                     regulatory organization licenses for
                                                be based on the NAVs of the Funds.                      Rule Change To Adopt a Shell                            Nasdaq, Inc. which, in addition to the
                                                   9. Applicants also request relief to                 Structure for the Phlx Rulebook                         three aforementioned exchanges, also
                                                permit a Feeder Fund to acquire shares                                                                          include The Nasdaq Stock Market LLC
                                                of another registered investment                        November 29, 2017.
                                                                                                                                                                (‘‘Nasdaq’’), Phlx and Nasdaq BX, Inc.
                                                company managed by the Adviser                             Pursuant to Section 19(b)(1) of the                  (‘‘BX’’) (collectively, ‘‘Nasdaq Entities’’).
                                                having substantially the same                           Securities Exchange Act of 1934
                                                investment objectives as the Feeder                     (‘‘Act’’),1 and Rule 19b–4 thereunder,2                    The Exchange is planning to conform
                                                Fund (‘‘Master Fund’’) beyond the                       notice is hereby given that on November                 the chapters of the various Nasdaq
                                                limitations in section 12(d)(1)(A) and                  17, 2017, Nasdaq PHLX LLC (‘‘Phlx’’ or                  Entity rulebooks for efficiency, and
                                                permit the Master Fund, and any                         ‘‘Exchange’’) filed with the Securities                 conformity of certain Nasdaq Entity
                                                principal underwriter for the Master                    and Exchange Commission                                 processes. The Exchange believes that
                                                Fund, to sell shares of the Master Fund                 (‘‘Commission’’) the proposed rule                      aligning the rules of the Nasdaq Entities
                                                to the Feeder Fund beyond the                           change as described in Items I and II                   will assist market participants in
                                                limitations in section 12(d)(1)(B).                     below, which Items have been prepared                   navigating the various rulebooks.
                                                   10. Section 6(c) of the Act permits the              by the Exchange. The Commission is                      Specifically, the Exchange proposes to
                                                Commission to exempt any persons or                     publishing this notice to solicit                       add a shell structure which would
                                                transactions from any provision of the                  comments on the proposed rule change                    reside alongside the current rulebook.
                                                Act if such exemption is necessary or                   from interested persons.                                The proposed shell would outline the
                                                appropriate in the public interest and                                                                          various chapters of the future rulebook
                                                                                                        I. Self-Regulatory Organization’s
                                                consistent with the protection of                                                                               and contains new chapter numbering. A
                                                                                                        Statement of the Terms of the Substance
                                                investors and the purposes fairly                                                                               similar shell would be filed to add the
                                                                                                        of the Proposed Rule Change
                                                intended by the policy and provisions of                                                                        same structure to each of the other
                                                the Act. Section 12(d)(1)(J) of the Act                    The Exchange proposes to adopt a                     Nasdaq Entities. The proposed chapters
                                                provides that the Commission may                        shell structure for the Phlx rulebook                   would be similar for each shell filed for
                                                                                                        (‘‘Rulebook’’) as part of its initiative to             each of the Nasdaq Entities. In
                                                exempt any person, security, or
                                                                                                        structure its Rulebook.                                 subsequent rule changes, each of the
                                                transaction, or any class or classes of
                                                                                                           The text of the proposed rule change                 Nasdaq Entities would file rule changes
                                                persons, securities, or transactions, from              is available on the Exchange’s Web site
                                                any provision of section 12(d)(1) if the                                                                        to move their current rules into the
                                                                                                        at http://nasdaqphlx.cchwallstreet.                     various chapters of the proposed shells
                                                exemption is consistent with the public                 com/, at the principal office of the
                                                interest and the protection of investors.                                                                       for all six markets and delete the
                                                                                                        Exchange, and at the Commission’s                       migrated rule from the current location
                                                Section 17(b) of the Act authorizes the                 Public Reference Room.
                                                Commission to grant an order                                                                                    in the Rulebook.4 The proposed shell
                                                permitting a transaction otherwise                      II. Self-Regulatory Organization’s                      would contain a general rule section
                                                prohibited by section 17(a) if it finds                 Statement of the Purpose of, and                        and product specific sections, in this
                                                that (a) the terms of the proposed                      Statutory Basis for, the Proposed Rule                  case equities and options, which would
                                                transaction are fair and reasonable and                 Change                                                  encompass all the rules of the Exchange.
                                                do not involve overreaching on the part                    In its filing with the Commission, the                  The Exchange believes this new
                                                of any person concerned; (b) the                        Exchange included statements                            structure would align the Nasdaq
                                                proposed transaction is consistent with                 concerning the purpose of and basis for                 Entities’ rulebooks for ease of use by
                                                the policies of each registered                         the proposed rule change and discussed                  Members, who are members of more
                                                investment company involved; and (c)                    any comments it received on the                         than one Nasdaq Entity. This proposal
                                                the proposed transaction is consistent                  proposed rule change. The text of these                 would not amend the current Rulebook
                                                with the general purposes of the Act.                   statements may be examined at the                       and is therefore not a substantive
                                                  For the Commission, by the Division of                places specified in Item IV below. The                  change. A Member would continue to be
                                                Investment Management, under delegated                  Exchange has prepared summaries, set                    able to view the current Rulebook
                                                authority.                                              forth in sections A, B, and C below, of                 alongside the proposed reorganized
                                                Eduardo A. Aleman,                                      the most significant aspects of such                    Rulebook. Subsequent rule changes will
                                                Assistant Secretary.                                    statements.                                             be filed to move the rule text into the
                                                [FR Doc. 2017–26114 Filed 12–4–17; 8:45 am]
                                                                                                        A. Self-Regulatory Organization’s                       shell Rulebook.
                                                BILLING CODE 8011–01–P                                  Statement of the Purpose of, and
                                                                                                                                                                   3 See Securities Exchange Act Release No. 78119
                                                                                                        Statutory Basis for, the Proposed Rule
                                                  3 The  requested relief would apply to direct sales                                                           (June 21, 2016), 81 FR 41611 (June 27, 2016) (SR–
                                                of shares in Creation Units by a Fund to a Fund of
                                                                                                        Change                                                  ISE–2016–11; SR–ISE Gemini–2016–05; SR–ISE
sradovich on DSK3GMQ082PROD with NOTICES




                                                Funds and redemptions of those shares. Applicants,      1. Purpose                                              Mercury–2016–10) (Order Granting Accelerated
                                                moreover, are not seeking relief from section 17(a)                                                             Approval of Proposed Rule Changes, Each as
                                                for, and the requested relief will not apply to,           On March 9, 2016, Nasdaq, Inc.                       Modified by Amendment No. 1 Thereto, Relating to
                                                transactions where a Fund could be deemed an            acquired the capital stock of U.S.                      a Corporate Transaction in Which Nasdaq, Inc. Will
                                                Affiliated Person, or a Second-Tier Affiliate, of a                                                             Become the Indirect Parent of ISE, ISE Gemini, and
                                                Fund of Funds because an Adviser or an entity
                                                                                                        Exchange Holdings, thereby indirectly                   ISE Mercury).
                                                controlling, controlled by or under common control                                                                 4 When relocating the current rule text into the
                                                                                                          1 15   U.S.C. 78s(b)(1).
                                                with an Adviser provides investment advisory                                                                    new shell, the Exchange shall not amend the rule
                                                services to that Fund of Funds.                           2 17   CFR 240.19b–4.                                 text but simply move existing rule text.



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                                                                             Federal Register / Vol. 82, No. 232 / Tuesday, December 5, 2017 / Notices                                                57509

                                                2. Statutory Basis                                         A proposed rule change filed under                 All submissions should refer to File
                                                   The Exchange believes that its                       Rule 19b–4(f)(6) normally does not                    Number SR–Phlx–2017–97. This file
                                                proposal is consistent with Section 6(b)                become operative for 30 days after the                number should be included on the
                                                of the Act,5 in general, and furthers the               date of its filing. However, Rule 19b–                subject line if email is used. To help the
                                                objectives of Section 6(b)(5) of the Act,6              4(f)(6)(iii) 9 permits the Commission to              Commission process and review your
                                                in particular, in that it is designed to                designate a shorter time if such action               comments more efficiently, please use
                                                promote just and equitable principles of                is consistent with the protection of                  only one method. The Commission will
                                                trade, to remove impediments to and                     investors and the public interest. The                post all comments on the Commission’s
                                                perfect the mechanism of a free and                     Exchange has requested that the                       Internet Web site (http://www.sec.gov/
                                                open market and a national market                       Commission waive the 30-day operative                 rules/sro.shtml). Copies of the
                                                system, and, in general to protect                      delay so that the proposed rule change                submission, all subsequent
                                                investors and the public interest, by                   will become operative upon filing. The                amendments, all written statements
                                                starting the process of organizing its                  Exchange states that such waiver will                 with respect to the proposed rule
                                                rules in a manner which is clear and                    enable the Exchange to start the process              change that are filed with the
                                                consistent across the Nasdaq Entities.                  to reorganize the rulebooks of the                    Commission, and all written
                                                The Exchange believes that coordinating                 Nasdaq Entities. The Commission                       communications relating to the
                                                the chapters of the rulebooks among the                 believes that waiver of the 30-day                    proposed rule change between the
                                                Nasdaq Entities will provide Members,                   operative delay is consistent with the                Commission and any person, other than
                                                who are members of more than one                        protection of investors and the public                those that may be withheld from the
                                                Nasdaq Entity, with consistency and                     interest because the proposal does not                public in accordance with the
                                                ease of reference in locating rules.                    raise any novel issues and waiver will                provisions of 5 U.S.C. 552, will be
                                                                                                        allow the Exchange to begin the                       available for Web site viewing and
                                                B. Self-Regulatory Organization’s                       reorganization of its Rulebook without                printing in the Commission’s Public
                                                Statement on Burden on Competition                      delay. Therefore, the Commission                      Reference Room, 100 F Street NE.,
                                                  The Exchange does not believe that                    hereby waives the operative delay and                 Washington, DC 20549 on official
                                                the proposed rule change will impose                    designates the proposed rule change                   business days between the hours of
                                                any burden on competition not                           operative upon filing.10                              10:00 a.m. and 3:00 p.m. Copies of the
                                                necessary or appropriate in furtherance                    At any time within 60 days of the                  filing also will be available for
                                                of the purposes of the Act. The                         filing of the proposed rule change, the               inspection and copying at the principal
                                                proposed changes do not impose a                        Commission summarily may                              office of the Exchange. All comments
                                                burden on competition because the                       temporarily suspend such rule change if               received will be posted without change.
                                                proposed amendments are non-                            it appears to the Commission that such                Persons submitting comments are
                                                substantive, are intended to start the                  action is: (i) Necessary or appropriate in            cautioned that we do not redact or edit
                                                process to organize the rules of the                    the public interest; (ii) for the protection          personal identifying information from
                                                Exchange in a manner that will be more                  of investors; or (iii) otherwise in                   comment submissions. You should
                                                user-friendly to Nasdaq Entity members.                 furtherance of the purposes of the Act.               submit only information that you wish
                                                                                                        If the Commission takes such action, the              to make available publicly. All
                                                C. Self-Regulatory Organization’s
                                                                                                        Commission shall institute proceedings                submissions should refer to File
                                                Statement on Comments on the
                                                Proposed Rule Change Received From                      to determine whether the proposed rule                Number SR–Phlx–2017–97, and should
                                                Members, Participants, or Others                        should be approved or disapproved.                    be submitted on or before December 26,
                                                                                                        IV. Solicitation of Comments                          2017.
                                                  No written comments were either
                                                solicited or received.                                    Interested persons are invited to                     For the Commission, by the Division of
                                                                                                                                                              Trading and Markets, pursuant to delegated
                                                III. Date of Effectiveness of the                       submit written data, views, and
                                                                                                                                                              authority.11
                                                Proposed Rule Change and Timing for                     arguments concerning the foregoing,
                                                                                                                                                              Eduardo A. Aleman,
                                                Commission Action                                       including whether the proposed rule
                                                                                                        change is consistent with the Act.                    Assistant Secretary.
                                                   Because the foregoing proposed rule                  Comments may be submitted by any of                   [FR Doc. 2017–26123 Filed 12–4–17; 8:45 am]
                                                change does not: (i) Significantly affect               the following methods:                                BILLING CODE 8011–01–P
                                                the protection of investors or the public
                                                interest; (ii) impose any significant                   Electronic Comments
                                                burden on competition; and (iii) become                   • Use the Commission’s Internet                     SECURITIES AND EXCHANGE
                                                operative for 30 days from the date on                  comment form (http://www.sec.gov/                     COMMISSION
                                                which it was filed, or such shorter time                rules/sro.shtml); or
                                                as the Commission may designate, it has                   • Send an email to rule-comments@                   Sunshine Act Meetings
                                                become effective pursuant to Section                    sec.gov. Please include File Number SR–
                                                19(b)(3)(A)(iii) of the Act 7 and                                                                             TIME AND DATE:  3:00 p.m. on Thursday,
                                                                                                        Phlx–2017–97 on the subject line.
                                                subparagraph (f)(6) of Rule 19b–4                                                                             December 7, 2017.
                                                thereunder.8                                            Paper Comments                                        PLACE: Closed Commission Hearing
                                                                                                          • Send paper comments in triplicate                 Room 10800.
                                                  5 15  U.S.C. 78f(b).                                  to Secretary, Securities and Exchange                 STATUS: This meeting will be closed to
                                                  6 15  U.S.C. 78f(b)(5).                               Commission, 100 F Street NE.,                         the public.
sradovich on DSK3GMQ082PROD with NOTICES




                                                  7 15 U.S.C. 78s(b)(3)(A)(iii).
                                                  8 17 CFR 240.19b–4(f)(6). As required under Rule
                                                                                                        Washington, DC 20549–1090.                            MATTERS TO BE CONSIDERED:
                                                19b–4(f)(6)(iii), the Exchange provided the                                                                   Commissioners, Counsel to the
                                                                                                          9 17 CFR 240.19b–4(f)(6)(iii).
                                                Commission with written notice of its intent to file                                                          Commissioners, the Secretary to the
                                                                                                          10 For purposes only of waiving the 30-day
                                                the proposed rule change, along with a brief                                                                  Commission, and recording secretaries
                                                description and the text of the proposed rule           operative delay, the Commission also has
                                                change, at least five business days prior to the date   considered the proposed rule’s impact on              will attend the closed meeting. Certain
                                                of filing of the proposed rule change, or such          efficiency, competition, and capital formation. See
                                                shorter time as designated by the Commission.           15 U.S.C. 78c(f).                                       11 17   CFR 200.30–3(a)(12).



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Document Created: 2017-12-04 23:44:51
Document Modified: 2017-12-04 23:44:51
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 57508 

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