82 FR 58671 - Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Transaction Fees for the Exchange's Equity Platform
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 238 (December 13, 2017)
Federal Register Volume 82, Issue 238 (December 13, 2017)
| Page Range | 58671-58673 | |
| FR Document | 2017-26823 |
[Federal Register Volume 82, Number 238 (Wednesday, December 13, 2017)] [Notices] [Pages 58671-58673] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-26823] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82236; File No. SR-CboeBZX-2017-009] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Transaction Fees for the Exchange's Equity Platform December 7, 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 30, 2017, Cboe BZX Exchange, Inc. (``BZX'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 15 U.S.C. 78s(b)(3)(A)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members \5\ and non-Members of the Exchange pursuant to BZX Rules 15.1(a) and (c). --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's website at www.markets.cboe.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 [[Page 58672]] 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its fee schedule to delete the Retail Order Tier under footnote 11. Fee code ZA is appended to Retail Orders that add liquidity on the Exchange. Retail Orders which yield fee code ZA currently receive a rebate of $0.0032 per share in securities priced at or above $1.00 and are charged no fee in securities priced below $1.00. Currently, under the Retail Order Tier, a Retail Order \6\ that yields fee code ZA will receive an enhanced rebate of $0.0034 per share where that Member adds Retail Orders that average at least 0.07% of TCV.\7\ Going forward, Members would receive the same rebate of $0.0032 per share for all of their Retail Orders that yield fee code ZA.\8\ The Exchange proposes to implement this amendment to its fee schedule on December 1, 2017. --------------------------------------------------------------------------- \6\ ``Retail Orders'' are defined as ``an agency or riskless principal order that meets the criteria of FINRA Rule 5320.03 that originates from a natural person and is submitted to the Exchange by a Retail Member Organization, provided that no change is made to the terms of the order with respect to price or side of market and the order does not originate from a trading algorithm or any other computerized methodology.'' See Exchange Rule 11.25(a)(2). \7\ ``TCV'' means total consolidated volume calculated as the volume reported by all exchanges and trade reporting facilities to a consolidated transaction reporting plan for the month for which the fees apply. Id. \8\ The Exchange also proposes to delete reference to footnote 11 from fee code ZA. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\9\ in general, and furthers the objectives of Section 6(b)(4),\10\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange believes eliminating the Retail Order Tier is equitable and reasonable because Retail Orders that yield fee code ZA may continue to receive an enhanced rebate of $0.0032 per share. The Exchange believes the rebate provided by fee code ZA will continue to encourage the entry of Retail Orders on the Exchange as no required added volume criteria is necessary to achieve the rebate. The Exchange also notes that the rebate for Retail Orders that yield fee code ZA remains greater than the rebate offered on another exchange.\11\ Lastly, the Exchange believes that the proposed amendment is non- discriminatory because it applies uniformly to all Members. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f. \10\ 15 U.S.C. 78f(b)(4). \11\ NYSE Arca, Inc. (``NYSE Arca'') provides a standard rebate of $0.0030 per share for retail orders that add liquidity. See the NYSE Arca fee schedule available at https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf. --------------------------------------------------------------------------- (B) Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\12\ in general, and furthers the objectives of Section 6(b)(4),\13\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange believes eliminating the Retail Order Tier is equitable and reasonable because Retail Orders that yield fee code ZA may continue to receive an enhanced rebate of $0.0032 per share. The Exchange believes the rebate provided by fee code ZA will continue to encourage the entry of Retail Orders on the Exchange as no required added volume criteria is necessary to achieve the rebate. The Exchange also notes that the rebate for Retail Orders that yield fee code ZA remains greater than the rebate offered on another exchange.\14\ Lastly, the Exchange believes that the proposed amendment is non- discriminatory because it applies uniformly to all Members. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f. \13\ 15 U.S.C. 78f(b)(4). \14\ NYSE Arca, Inc. (``NYSE Arca'') provides a standard rebate of $0.0030 per share for retail orders that add liquidity. See the NYSE Arca fee schedule available at https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf. --------------------------------------------------------------------------- (C) Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from Members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \15\ and paragraph (f) of Rule 19b-4 thereunder.\16\ 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 necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A). \16\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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 CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-CboeBZX-2017-009 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. All submissions should refer to File Number SR-CboeBZX-2017-009. 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 website (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 website 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 [[Page 58673]] 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-CboeBZX-2017-009 and should be submitted on or before January 3, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-26823 Filed 12-12-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 238 / Wednesday, December 13, 2017 / Notices 58671
will continue to calculate and apply the Electronic Comments SECURITIES AND EXCHANGE
Crossing Fee Cap in a uniform manner COMMISSION
to all ISE Members that are eligible for • Use the Commission’s internet
comment form (http://www.sec.gov/ [Release No. 34–82236; File No. SR–
this cap. CboeBZX–2017–009]
rules/sro.shtml); or
B. Self-Regulatory Organization’s
• Send an email to rule-comments@ Self-Regulatory Organizations; Cboe
Statement on Burden on Competition
sec.gov. Please include File Number SR– BZX Exchange, Inc.; Notice of Filing
The Exchange does not believe that ISE–2017–95 on the subject line. and Immediate Effectiveness of a
the proposed rule change will impose Proposed Rule Change Related to
Paper Comments Transaction Fees for the Exchange’s
any burden on competition not
necessary or appropriate in furtherance • Send paper comments in triplicate Equity Platform
of the purposes of the Act. The proposal to Secretary, Securities and Exchange December 7, 2017.
is intended to provide greater Commission, 100 F Street NE, Pursuant to Section 19(b)(1) of the
transparency to the Schedule of Fees Washington, DC 20549–1090. Securities Exchange Act of 1934
and does not amend the current manner (‘‘Act’’),1 and Rule 19b–4 thereunder,2
in which the Exchange calculates or All submissions should refer to File
Number SR–ISE–2017–95. This file notice is hereby given that on November
applies the Crossing Fee Cap. The 30, 2017, Cboe BZX Exchange, Inc.
Exchange’s proposal to add the number should be included on the
(‘‘BZX’’ or ‘‘Exchange’’) filed with the
clarifying language regarding the subject line if email is used. To help the
Securities and Exchange Commission
Crossing Fee Cap to the Schedule of Commission process and review your (‘‘Commission’’) the proposed rule
Fees does not impose an undue burden comments more efficiently, please use change as described in Items I, II and III
on competition because the Exchange only one method. The Commission will below, which Items have been prepared
will continue to calculate and apply the post all comments on the Commission’s by the Exchange. The Exchange has
Crossing Fee Cap in a uniform manner internet website (http://www.sec.gov/ designated the proposed rule change as
to all ISE Members that are eligible for rules/sro.shtml). Copies of the one establishing or changing a member
this cap. submission, all subsequent due, fee, or other charge imposed by the
amendments, all written statements Exchange under Section 19(b)(3)(A)(ii)
C. Self-Regulatory Organization’s with respect to the proposed rule of the Act 3 and Rule 19b–4(f)(2)
Statement on Comments on the change that are filed with the thereunder,4 which renders the
Proposed Rule Change Received From Commission, and all written proposed rule change effective upon
Members, Participants, or Others communications relating to the filing with the Commission. The
No written comments were either proposed rule change between the Commission is publishing this notice to
solicited or received. Commission and any person, other than solicit comments on the proposed rule
those that may be withheld from the change from interested persons.
III. Date of Effectiveness of the public in accordance with the I. Self-Regulatory Organization’s
Proposed Rule Change and Timing for provisions of 5 U.S.C. 552, will be Statement of the Terms of Substance of
Commission Action available for website viewing and the Proposed Rule Change
The foregoing rule change has become printing in the Commission’s Public
The Exchange filed a proposal to
effective pursuant to Section Reference Room, 100 F Street NE,
amend the fee schedule applicable to
19(b)(3)(A)(ii) of the Act,7 and Rule Washington, DC 20549, on official Members 5 and non-Members of the
19b–4(f)(2) 8 thereunder. At any time business days between the hours of Exchange pursuant to BZX Rules 15.1(a)
within 60 days of the filing of the 10:00 a.m. and 3:00 p.m. Copies of the and (c).
proposed rule change, the Commission filing also will be available for The text of the proposed rule change
summarily may temporarily suspend inspection and copying at the principal is available at the Exchange’s website at
such rule change if it appears to the office of the Exchange. All comments www.markets.cboe.com, at the principal
Commission that such action is: (i) received will be posted without change. office of the Exchange, and at the
Necessary or appropriate in the public Persons submitting comments are Commission’s Public Reference Room.
interest; (ii) for the protection of cautioned that we do not redact or edit
II. Self-Regulatory Organization’s
investors; or (iii) otherwise in personal identifying information from
Statement of the Purpose of, and
furtherance of the purposes of the Act. comment submissions. You should Statutory Basis for, the Proposed Rule
If the Commission takes such action, the submit only information that you wish Change
Commission shall institute proceedings to make available publicly. All
submissions should refer to File In its filing with the Commission, the
to determine whether the proposed rule
Number SR–ISE–2017–95 and should be Exchange included statements
should be approved or disapproved.
concerning the purpose of and basis for
submitted on or before January 3, 2018.
IV. Solicitation of Comments the proposed rule change and discussed
For the Commission, by the Division of any comments it received on the
Interested persons are invited to Trading and Markets, pursuant to delegated proposed rule change. The text of these
submit written data, views, and authority.9 statements may be examined at the
arguments concerning the foregoing,
sradovich on DSK3GMQ082PROD with NOTICES
Eduardo A. Aleman,
including whether the proposed rule Assistant Secretary. 1 15 U.S.C. 78s(b)(1).
change is consistent with the Act. [FR Doc. 2017–26820 Filed 12–12–17; 8:45 am]
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
Comments may be submitted by any of
BILLING CODE 8011–01–P 4 17 CFR 240.19b–4(f)(2).
the following methods: 5 The term ‘‘Member’’ is defined as ‘‘any
registered broker or dealer that has been admitted
7 15 U.S.C. 78s(b)(3)(A)(ii). to membership in the Exchange.’’ See Exchange
8 17 CFR 240.19b–4(f)(2). 9 17 CFR 200.30–3(a)(12). Rule 1.5(n).
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![Federal Register / Vol. 82, No. 238 / Wednesday, December 13, 2017 / Notices 58673
personal identifying information from (Catalog of Federal Domestic Assistance DEPARTMENT OF STATE
comment submissions. You should Number 59008)
[Public Notice: 10212]
submit only information that you wish James E. Rivera,
to make available publicly. All Associate Administrator for Disaster 30-Day Notice of Proposed Information
submissions should refer to File Assistance. Collection: Electronic Medical
Number SR-CboeBZX–2017–009 and [FR Doc. 2017–26881 Filed 12–12–17; 8:45 am] Examination for Visa Applicant
should be submitted on or before
BILLING CODE 8025–01–P
January 3, 2018. ACTION:Notice of request for public
For the Commission, by the Division of comment and submission to OMB of
Trading and Markets, pursuant to delegated SMALL BUSINESS ADMINISTRATION proposed collection of information.
authority.17
Eduardo A. Aleman,
SUMMARY: The Department of State has
[Disaster Declaration #15374 and #15375; submitted the information collection
Assistant Secretary. PUERTO RICO Disaster Number PR–00032] described below to the Office of
[FR Doc. 2017–26823 Filed 12–12–17; 8:45 am]
Management and Budget (OMB) for
BILLING CODE 8011–01–P Presidential Declaration Amendment of
approval. In accordance with the
a Major Disaster for Public Assistance
Paperwork Reduction Act of 1995 we
Only for the Commonwealth of Puerto
are requesting comments on this
Rico
collection from all interested
SMALL BUSINESS ADMINISTRATION individuals and organizations. The
AGENCY:U.S. Small Business
Administration. purpose of this Notice is to allow 30
[Disaster Declaration #15322 and #15323; days for public comment.
PUERTO RICO Disaster Number PR–00031] ACTION: Amendment 1. DATES: Submit comments directly to the
Presidential Declaration Amendment of Office of Management and Budget
SUMMARY: This is an amendment of the
a Major Disaster for the (OMB) up to January 12, 2018.
Presidential declaration of a major
Commonwealth of Puerto Rico ADDRESSES: Direct comments to the
disaster for Public Assistance Only for
the Commonwealth of Puerto Rico Department of State Desk Officer in the
AGENCY: U.S. Small Business (FEMA–4339–DR), dated 11/02/2017. Office of Information and Regulatory
Administration. Affairs at the Office of Management and
Incident: Hurricane Maria. Budget (OMB). You may submit
ACTION: Amendment 3.
Incident Period: 09/17/2017 through comments by the following methods:
SUMMARY: This is an amendment of the 11/15/2017. • Email: oira_submission@
Presidential declaration of a major DATES: Issued on 12/06/2017. omb.eop.gov. You must include the DS
disaster for the Commonwealth of form number, information collection
Physical Loan Application Deadline
Puerto Rico (FEMA–4339–DR), dated title, and the OMB control number in
Date: 01/02/2018.
09/20/2017. the subject line of your message.
Incident: Hurricane Maria.
Economic Injury (EIDL) Loan • Fax: 202–395–5806. Attention: Desk
Application Deadline Date: 08/02/2018. Officer for Department of State.
Incident Period: 09/17/2017 through
11/15/2017. ADDRESSES: Submit completed loan FOR FURTHER INFORMATION CONTACT:
applications to: U.S. Small Business Direct requests for additional
DATES: Issued on 12/06/2017.
Administration, Processing and information regarding the collection
Physical Loan Application Deadline Disbursement Center, 14925 Kingsport listed in this notice, including requests
Date: 03/20/2018. Road, Fort Worth, TX 76155. for copies of the proposed collection
Economic Injury (EIDL) Loan instrument and supporting documents,
Application Deadline Date: 06/20/2018. FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance, to S. Taylor at PRA_Burdencomments@
ADDRESSES: Submit completed loan U.S. Small Business Administration, state.gov.
applications to: U.S. Small Business 409 3rd Street SW, Suite 6050, SUPPLEMENTARY INFORMATION:
Administration, Processing and Washington, DC 20416, (202) 205–6734. • Title of Information Collection:
Disbursement Center, 14925 Kingsport Electronic Medical Examination for Visa
Road, Fort Worth, TX 76155. SUPPLEMENTARY INFORMATION: The notice
Applicant.
of the President’s major disaster
FOR FURTHER INFORMATION CONTACT: A. • OMB Control Number: None.
declaration for Private Non-Profit • Type of Request: New Collection.
Escobar, Office of Disaster Assistance, organizations in the Commonwealth of
U.S. Small Business Administration, • Originating Office: CA/VO/L/.
Puerto Rico, dated 11/02/2017, is hereby • Form Number: DS–7794.
409 3rd Street SW, Suite 6050, amended to establish the incident
Washington, DC 20416, (202) 205–6734. • Respondents: Visa Applicants and
period for this disaster as beginning 09/ Panel Physicians.
SUPPLEMENTARY INFORMATION: The notice 17/2017 and continuing through 11/15/ • Estimated Number of Respondents:
of the President’s major disaster 2017. 684,589.
declaration for the Commonwealth of All other information in the original • Estimated Number of Responses:
Puerto Rico, dated 09/20/2017, is hereby declaration remains unchanged. 684,589.
amended to establish the incident • Average Time per Response: 1 hour.
sradovich on DSK3GMQ082PROD with NOTICES
period for this disaster as beginning 09/ (Catalog of Federal Domestic Assistance
Number 59008) • Total Estimated Burden Time:
17/2017 and continuing through 11/15/ 684,589 annual hours.
2017. James E. Rivera, • Frequency: Once per respondent.
All other information in the original Associate Administrator for Disaster • Obligation to Respond: Required to
declaration remains unchanged. Assistance. Obtain or Retain a Benefit.
[FR Doc. 2017–26884 Filed 12–12–17; 8:45 am] We are soliciting public comments to
17 17 CFR 200.30–3(a)(12). BILLING CODE 8025–01–P permit the Department to:
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Document Created: 2017-12-13 01:23:44
Document Modified: 2017-12-13 01:23:44
| 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 58671 |
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