82 FR 60649 - Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; Order Granting Accelerated Approval of a Proposed Rule Change Relating to Its Director Nomination and Committee Appointment Process and Its Nominating and Governance Committee
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 244 (December 21, 2017)
Federal Register Volume 82, Issue 244 (December 21, 2017)
| Page Range | 60649-60651 | |
| FR Document | 2017-27466 |
[Federal Register Volume 82, Number 244 (Thursday, December 21, 2017)] [Notices] [Pages 60649-60651] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-27466] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82337; File No. SR-CboeBYX-2017-001; SR-CboeBZX-2017- 001; SR-CboeEDGA-2017-001; SR-CboeEDGX-2017-001] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe EDGX Exchange, Inc.; Order Granting Accelerated Approval of a Proposed Rule Change Relating to Its Director Nomination and Committee Appointment Process and Its Nominating and Governance Committee December 15, 2017. I. Introduction On November 14, 2017, each of Cboe BYX Exchange, Inc. (``Cboe BYX''), Cboe BZX Exchange, Inc. (``Cboe BZX''), Cboe EDGA Exchange, Inc. (``Cboe EDGA''), Cboe EDGX Exchange, Inc. (``Cboe EDGX'') (each an ``Exchange'' and collectively, ``Exchanges'') filed with the Securities and Exchange Commission (``Commission''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to eliminate its Nominating and Governance Committee (``N&G Committee'') and amend the process by which (i) directors are elected, (ii) committee appointments are made, and (iii) vacancies are filled.\3\ The proposed rule changes were published for comment in the Federal Register on November 27, 2017.\4\ The Commission received no comments on the proposals. This order approves the proposed rule changes on an accelerated basis. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ In addition, the Exchanges propose to make several formatting changes throughout the Bylaws as well as to change their names in the title and signature lines in their Certificates of Incorporation (``Certificates'') to reflect recent changes to their legal names. \4\ See Securities Exchange Act Release Nos. 82122 (November 20, 2017), 82 FR 53076 (November 27, 2017) (SR-CboeBYX-2017-001) (``CboeBYX Notice''); 82123 (November 20, 2017), 82 FR 56065 (November 27, 2017) (SR-CboeBZX-2017-001) (``CboeBZX Notice''); 82125 (November 20, 2017), 82 FR 56079 (November 27, 2017) (SR- CboeEDGA-2017-001) (``CboeEDGA Notice''); 82126 (November 20, 2017), 82 FR 56072 (SR-CboeEDGX-2017-001) (``CboeEDGX Notice'') (collectively, the ``Notices''). --------------------------------------------------------------------------- II. Description of the Proposal First, the Exchanges propose to eliminate their N&G Committees and provide that the sole stockholder of the Exchanges (Cboe Global Markets, Inc.) shall nominate and elect directors at the annual meetings of the sole stockholder, [[Page 60650]] except with respect to fair-representation directors (``Representative Directors'').\5\ As a consequence of the elimination of the N&G Committee, the Exchanges propose conforming changes to reallocate its responsibility. Specifically, the Exchanges propose to amend the definition of ``Representative Director Nominating Body'' to provide that if an Exchange's Board of Directors (``Board'') has two or more Industry Directors, excluding directors that are Exchange employees, those Industry Directors shall act as the Representative Director Nominating Body. If there are fewer than two Industry Directors on the Board (excluding directors that are employees of the Exchange), then the Exchange Member Subcommittee of the Advisory Board shall act as the Representative Director Nominating Body. The Exchanges further propose to amend their Bylaws and Certificates to provide that the sole stockholder is bound to nominate and elect the Representative Directors nominees recommended by the Representative Director Nominating Body or, in the event of a petition candidate, the Representative Director nominees who receive the most votes pursuant to a Run-off Election. Lastly, the Exchanges each propose to amend Section 3.1 of their Bylaws to provide that the Board is responsible for determining whether a director candidate satisfies the applicable qualifications for election as a director. --------------------------------------------------------------------------- \5\ See id. at 56077; 56065; 56080; and 56072, respectively. --------------------------------------------------------------------------- Second, the Exchanges propose to transfer the N&G Committee's current authority with respect to committee appointments to their Boards (or appropriate subcommittee of the Board).\6\ Specifically, the Exchanges propose to amend Section 4.2 and 6.1 of their Bylaws to state that members of the Executive Committee and Advisory Board will now be appointed by the Board. The Exchanges also propose to amend Section 4.4 of their Bylaws to state that members of the Regulatory Oversight Committee (``ROC'') will be appointed by the Board on the recommendation of the Non-Industry Directors of the Board. --------------------------------------------------------------------------- \6\ See id. at 56077; 56066; 56080; and 56073, respectively. --------------------------------------------------------------------------- Third, the Exchanges propose to amend their Bylaws to alter the process for filling director vacancies.\7\ Specifically, the Exchanges propose to amend Section 3.4 of their Bylaws to provide that in the event any Industry or Non-Industry Director fails to maintain the required qualifications and the director's term is accordingly terminated, the sole stockholder, instead of the Board, shall be able to fill the vacancy.\8\ The Exchanges also propose to amend Section 3.5 of their Bylaws to provide the sole stockholder with authority to fill vacancies so long as the elected Director qualifies for the position. Additionally, with respect to vacancies among the Representative Directors, the Representative Director Nominating Body will recommend an individual, or provide a list of recommended individuals, to the sole stockholder who shall select and fill the position. --------------------------------------------------------------------------- \7\ See id. at 56077; 56066; 56080-81 and 56073, respectively. \8\ Amended Section 3.4 would also provide that if such terminated director requalified, the sole stockholder would have discretion to reappoint such director, including by increasing the size of the Board, should that be necessary. --------------------------------------------------------------------------- Finally, the Exchanges propose to change their names in the title and signature lines in their Certificates to reflect recent changes to their legal names.\9\ --------------------------------------------------------------------------- \9\ Other technical formatting changes occur throughout the Bylaws as a result of the Exchanges proposed changes. See Notices, supra note 4 at 56077; 56066; 56081 and 56073, respectively. --------------------------------------------------------------------------- III. Discussion and Commission Findings After careful review, the Commission finds that the proposed rule changes are consistent with the requirements of Section 6 of the Act \10\ and the rules and regulations thereunder applicable to a national securities exchange.\11\ In particular, the Commission finds that the proposed rule changes are consistent with Sections 6(b)(1) the Act,\12\ which require a national securities exchange to be so organized and have the capacity to be able to carry out the purposes of the Act, and to comply and to enforce compliance by its members and persons associated with its members with the provisions of the Act, the rules and regulations thereunder, and the rules of the Exchange. The Commission also finds that the proposed rule changes are consistent with Section 6(b)(3) of the Act,\13\ which requires that the rules of a national securities exchange assure the fair representation of its members in the selection of its directors and administration of its affairs, and provide that one or more directors shall be representative of issuers and investors and not be associated with a member of the exchange, broker, or dealer. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ In approving these proposed rule changes, the Commission has considered the proposed rules' impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). \12\ 15 U.S.C. 78f(b)(1). \13\ 15 U.S.C. 78f(b)(3). --------------------------------------------------------------------------- The Commission believes that the Exchanges' proposals to eliminate their N&G Committees and reassign the N&G Committees' responsibilities are consistent with the Act. In particular, with respect to vesting the authority to nominate and elect directors in the sole stockholder, the Exchanges cite to the rules of another Exchange that similarly does not maintain an exchange-level nominating committee and instead provides that the sole stockholder of the Exchange nominates and elects their non-fair representation directors.\14\ Importantly, the Commission notes that the proposed rule changes do not substantively impact the provisions concerning the nomination and selection of fair representation directors that currently apply to the Exchanges. The sole stockholder will continue to be bound to nominate and elect the Representative Director nominees recommended by the Representative Director Nominating Body and there are no other changes to the process for the nomination and selection of Representative Directors. Accordingly, the Commission believes that members of the Exchanges should continue to have a voice in the governance of the Exchanges through Board representation and thus will have a voice in the Exchanges' exercise of their self-regulatory authority. The Exchanges represent that they are not proposing to amend any of the compositional requirements currently set forth in the Bylaws and that such existing compositional requirements must continue to be satisfied, including the provision relating to the fair representation of members.\15\ --------------------------------------------------------------------------- \14\ See Section 3.02(f) of the Amended and Restated NYSE Arca, Inc. Bylaws. See also Notices, supra note 4 at 56078; 56066-67; 56081; and 56074, respectively. \15\ See Notices, supra note 4 at 56078; 56067; 56081 and 56074, respectively. --------------------------------------------------------------------------- In addition, with respect to providing the Board, as opposed to the N&G Committee, with the authority to recommend and approve members of the Executive Committee, Advisory Board, and ROC, the Commission notes that other exchanges provide that their Boards, without input from a nominating committee, may appoint members to committees.\16\ While the internal Exchange delegations of the authority relating to the (i) nomination and election of directors, (ii) nominating body for Representative Directors, (iii) [[Page 60651]] filling of director vacancies and (iv) appointment of committees are being amended, the Exchanges represent that the substantive requirements of the Exchanges applicable to those items will remain the same.\17\ --------------------------------------------------------------------------- \16\ See e.g., Eleventh Amended and Restated Operating Agreement of New York Stock Exchange, LLC, Section 2.03(h) and By-Laws of Nasdaq Phlx LLC, Section 5-3. \17\ See Notices, supra note 4 at 56078; 56067; 56081 and 56074, respectively. --------------------------------------------------------------------------- Finally, the Commission believes that the proposals to update the exchanges' names in their Certificates are consistent with the Act as they may also serve to reduce potential confusion by ensuring the Exchanges' corporate documents reflect their recent name changes. IV. Accelerated Approval of the Proposal The Commission finds good cause, pursuant to Section 19(b)(2) of the Act,\18\ for approving the proposed rule changes, prior to the 30th day after publication of the Notices in the Federal Register.\19\ The Commission believes that the proposed rule changes do not raise novel regulatory issues and are substantively similar to the existing rules of other national securities exchanges.\20\ In particular, the Commission notes that the proposed rule changes do not substantively impact the provisions concerning the nomination and selection of fair representation directors that currently apply to the Exchanges. Members of the Exchanges should continue to have an opportunity to participate in the selection of Board representation and have input into the Exchanges' exercise of self-regulatory authority. In addition, the Commission did not receive any comment on the proposed changes. Accordingly, the Commission finds that good cause exists to approve the proposed rule changes on an accelerated basis. --------------------------------------------------------------------------- \18\ 15 U.S.C. 78s(b)(2). \19\ As noted above, the Notices were published for comment in the Federal Register on November 27, 2017 and the comment period closed on December 12, 2017. Accordingly, the 30th day after publication of the Notices is December 27, 2017. \20\ See notes 15 and 17, supra. --------------------------------------------------------------------------- V. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act \21\ that the proposed rule changes (SR-CboeBYX-2017-001; SR-CboeBZX- 2017-001; SR-CboeEDGA-2017-001; SR-CboeEDGX-2017-001), be, and hereby are, approved on an accelerated basis. --------------------------------------------------------------------------- \21\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\22\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \22\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2017-27466 Filed 12-20-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 244 / Thursday, December 21, 2017 / Notices 60649
19(b)(3)(A) of the Act 14 and Rule 19b– All submissions should refer to File SECURITIES AND EXCHANGE
4(f)(6) thereunder.15 Number SR–NYSEAMER–2017–37. This COMMISSION
A proposed rule change filed under file number should be included on the
[Release No. 34–82337; File No. SR–
Rule 19b–4(f)(6) normally does not subject line if email is used. To help the CboeBYX–2017–001; SR–CboeBZX–2017–
become operative prior to 30 days after Commission process and review your 001; SR–CboeEDGA–2017–001; SR–
the date of the filing. However, pursuant comments more efficiently, please use CboeEDGX–2017–001]
to Rule 19b–4(f)(6)(iii), the Commission only one method. The Commission will
may designate a shorter time if such post all comments on the Commission’s Self-Regulatory Organizations; Cboe
action is consistent with the protection internet website (http://www.sec.gov/ BYX Exchange, Inc.; Cboe BZX
of investors and the public interest. The rules/sro.shtml). Copies of the Exchange, Inc.; Cboe EDGA Exchange,
Exchange has asked the Commission to Inc.; Cboe EDGX Exchange, Inc.; Order
submission, all subsequent
waive the 30-day operative delay so that Granting Accelerated Approval of a
amendments, all written statements
the proposal may become operative Proposed Rule Change Relating to Its
with respect to the proposed rule
immediately upon filing. As noted Director Nomination and Committee
above, the proposed amendments to change that are filed with the
Appointment Process and Its
NYSE American Rule 8.700E relating to Commission, and all written
Nominating and Governance
Managed Trust Securities are communications relating to the Committee
substantially identical to amendments proposed rule change between the
to NYSE Arca Rule 8.700E previously Commission and any person, other than December 15, 2017.
approved by the Commission. The those that may be withheld from the I. Introduction
proposal raises no new or novel issues. public in accordance with the
provisions of 5 U.S.C. 552, will be On November 14, 2017, each of Cboe
Therefore, the Commission designates
available for website viewing and BYX Exchange, Inc. (‘‘Cboe BYX’’), Cboe
the proposed rule change to be operative
printing in the Commission’s Public BZX Exchange, Inc. (‘‘Cboe BZX’’), Cboe
upon filing.16
At any time within 60 days of the Reference Room, 100 F Street NE, EDGA Exchange, Inc. (‘‘Cboe EDGA’’),
filing of the proposed rule change, the Cboe EDGX Exchange, Inc. (‘‘Cboe
Washington, DC 20549 on official
Commission summarily may EDGX’’) (each an ‘‘Exchange’’ and
business days between the hours of
temporarily suspend such rule change if collectively, ‘‘Exchanges’’) filed with the
10:00 a.m. and 3:00 p.m. Copies of the Securities and Exchange Commission
it appears to the Commission that such filing also will be available for
action is necessary or appropriate in the (‘‘Commission’’), pursuant to Section
inspection and copying at the principal 19(b)(1) of the Securities Exchange Act
public interest, for the protection of office of the Exchange. All comments
investors, or otherwise in furtherance of of 1934 (‘‘Act’’) 1 and Rule 19b–4
received will be posted without change. thereunder,2 a proposed rule change to
the purposes of the Act. Persons submitting comments are eliminate its Nominating and
IV. Solicitation of Comments cautioned that we do not redact or edit Governance Committee (‘‘N&G
Interested persons are invited to personal identifying information from Committee’’) and amend the process by
submit written data, views, and comment submissions. You should which (i) directors are elected, (ii)
arguments concerning the foregoing, submit only information that you wish committee appointments are made, and
including whether the proposed rule to make available publicly. All (iii) vacancies are filled.3 The proposed
change is consistent with the Act. submissions should refer to File rule changes were published for
Comments may be submitted by any of Number SR–NYSEAMER–2017–37 and comment in the Federal Register on
the following methods: should be submitted on or before November 27, 2017.4 The Commission
January 11, 2018. received no comments on the proposals.
Electronic Comments This order approves the proposed rule
For the Commission, by the Division of
• Use the Commission’s internet Trading and Markets, pursuant to delegated
changes on an accelerated basis.
comment form (http://www.sec.gov/ authority.17 II. Description of the Proposal
rules/sro.shtml); or
Robert W. Errett,
• Send an email to rule-comments@ First, the Exchanges propose to
sec.gov. Please include File Number Deputy Secretary. eliminate their N&G Committees and
SR–NYSEAMER–2017–37 on the subject [FR Doc. 2017–27467 Filed 12–20–17; 8:45 am] provide that the sole stockholder of the
line. BILLING CODE 8011–01–P Exchanges (Cboe Global Markets, Inc.)
shall nominate and elect directors at the
Paper Comments annual meetings of the sole stockholder,
• Send paper comments in triplicate
1 15 U.S.C. 78s(b)(1).
to Secretary, Securities and Exchange
2 17 CFR 240.19b–4.
Commission, 100 F Street NE,
3 In addition, the Exchanges propose to make
Washington, DC 20549–1090. several formatting changes throughout the Bylaws
as well as to change their names in the title and
14 15 U.S.C. 78s(b)(3)(A). signature lines in their Certificates of Incorporation
15 17 CFR 240.19b–4(f)(6). As required under Rule (‘‘Certificates’’) to reflect recent changes to their
19b–4(f)(6)(iii), the Exchange provided the legal names.
Commission with written notice of its intent to file 4 See Securities Exchange Act Release Nos. 82122
daltland on DSKBBV9HB2PROD with NOTICES
the proposed rule change, along with a brief (November 20, 2017), 82 FR 53076 (November 27,
description and the text of the proposed rule 2017) (SR–CboeBYX–2017–001) (‘‘CboeBYX
change, at least five business days prior to the date Notice’’); 82123 (November 20, 2017), 82 FR 56065
of filing of the proposed rule change, or such (November 27, 2017) (SR–CboeBZX–2017–001)
shorter time as designated by the Commission. (‘‘CboeBZX Notice’’); 82125 (November 20, 2017),
16 For purposes only of waiving the 30-day 82 FR 56079 (November 27, 2017) (SR–CboeEDGA–
operative delay, the Commission has considered the 2017–001) (‘‘CboeEDGA Notice’’); 82126 (November
proposed rule’s impact on efficiency, competition, 20, 2017), 82 FR 56072 (SR–CboeEDGX–2017–001)
and capital formation. See 15 U.S.C. 78c(f). 17 17 CFR 200.30–3(a)(12). (‘‘CboeEDGX Notice’’) (collectively, the ‘‘Notices’’).
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![Federal Register / Vol. 82, No. 244 / Thursday, December 21, 2017 / Notices 60651
filling of director vacancies and (iv) For the Commission, by the Division of II. Description of the Amended
appointment of committees are being Trading and Markets, pursuant to delegated Proposal
amended, the Exchanges represent that authority.22
The Exchange proposes to permit the
the substantive requirements of the Robert W. Errett,
listing and trading, on a pilot basis, of
Exchanges applicable to those items will Deputy Secretary. p.m.-settled options on broad-based
remain the same.17 [FR Doc. 2017–27466 Filed 12–20–17; 8:45 am] indexes with nonstandard expiration
Finally, the Commission believes that BILLING CODE 8011–01–P dates for a period of twelve months (the
the proposals to update the exchanges’ ‘‘Nonstandard Expirations Pilot
names in their Certificates are consistent Program’’ or ‘‘Pilot Program’’) from the
SECURITIES AND EXCHANGE date of approval of this proposed rule
with the Act as they may also serve to COMMISSION
reduce potential confusion by ensuring change. The Pilot Program would permit
both Weekly Expirations and EOM
the Exchanges’ corporate documents
[Release No. 34–82341; File No. SR–Phlx– expirations similar to those of the a.m.-
reflect their recent name changes. 2017–79] settled broad-based index options,
IV. Accelerated Approval of the except that the exercise settlement value
Self-Regulatory Organizations; Nasdaq will be based on the index value derived
Proposal
PHLX LLC; Notice of Filing of from the closing prices of component
The Commission finds good cause, Amendment No. 2, Order Approving a stocks. The proposal is substantially
pursuant to Section 19(b)(2) of the Proposed Rule Change, as Modified by similar to Chicago Board Options
Act,18 for approving the proposed rule Amendment No. 1 and Granting Exchange (‘‘CBOE’’) Rule 24.9(e),
changes, prior to the 30th day after Accelerated Approval of Amendment Nonstandard Expirations Pilot
publication of the Notices in the Federal No. 2, of a Proposed Rule Change To Program.5
Register.19 The Commission believes Establish a Nonstandard Expirations
Pilot Program A. Weekly Expirations
that the proposed rule changes do not
The Exchange proposes to add new
raise novel regulatory issues and are December 15, 2017.
subsection (b)(vii)(1), Weekly
substantively similar to the existing
I. Introduction Expirations, to Rule 1101A, Terms of
rules of other national securities Options Contracts. Under the proposed
exchanges.20 In particular, the On October 12, 2017, Nasdaq PHLX new rule the Exchange would be
Commission notes that the proposed LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with permitted to open for trading Weekly
rule changes do not substantively the Securities and Exchange Expirations on any broad-based index
impact the provisions concerning the Commission (‘‘Commission’’ or ‘‘SEC’’), eligible for standard options trading to
nomination and selection of fair pursuant to Section 19(b)(1) of the expire on any Monday, Wednesday, or
representation directors that currently Securities Exchange Act of 1934 Friday (other than the third Friday-of-
apply to the Exchanges. Members of the (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a the-month or days that coincide with an
Exchanges should continue to have an proposed rule change to establish a EOM expiration). Weekly Expirations
opportunity to participate in the Nonstandard Expirations Pilot Program. would be subject to all provisions of
selection of Board representation and On October 26, 2017, the Exchange filed Rule 1101A and would be treated the
have input into the Exchanges’ exercise Amendment No.1 to the proposal to same as options on the same underlying
of self-regulatory authority. In addition, amend and replace the original filing in index that expire on the third Friday of
the Commission did not receive any its entirety. The proposed rule change the expiration month. Unlike the
was published for comment in the standard monthly options, however,
comment on the proposed changes.
Federal Register on November 2, 2017.3 Weekly Expirations would be p.m.-
Accordingly, the Commission finds that
On December 6, 2017, the Exchange settled. New series in Weekly
good cause exists to approve the filed a partial amendment to the
proposed rule changes on an accelerated Expirations could be added up to and
proposed rule change (‘‘Amendment No. including on the expiration date for an
basis. 2’’).4 The Commission received no expiring Weekly Expiration.
V. Conclusion comments on the proposed rule change. The maximum number of expirations
This order provides notice of filing of that could be listed for each Weekly
It is therefore ordered, pursuant to Amendment No. 2, approves the Expiration (i.e., a Monday expiration,
Section 19(b)(2) of the Act 21 that the proposal, as modified by Amendment Wednesday expiration, or Friday
proposed rule changes (SR–CboeBYX– No. 1, and approves Amendment No. 2 expiration, as applicable) in a given
2017–001; SR–CboeBZX–2017–001; SR– on an accelerated basis, for a pilot class would be the same as the
CboeEDGA–2017–001; SR–CboeEDGX– period of twelve months. maximum number of expirations
2017–001), be, and hereby are, approved permitted for standard options on the
on an accelerated basis. 22 17 CFR 200.30–3(a)(12). same broad-based index. Weekly
1 15 U.S.C. 78s(b)(1). Expirations would not need to be for
2 17 CFR 240.19b–4. consecutive Monday, Wednesday, or
3 See Securities Exchange Act Release No. 81975
(Oct. 27, 2017), 82 FR 50921. 5 See Securities Exchange Act Release Nos. 78531
17 See Notices, supra note 4 at 56078; 56067; 4 In Amendment No. 2, the Exchange proposes to
(August 10, 2016), 81 FR 54643 (August 16, 2016)
56081 and 56074, respectively. provide to the Commission, to the extent that data (SR–CBOE–2016–046) (Order approving expansion
daltland on DSKBBV9HB2PROD with NOTICES
18 15 U.S.C. 78s(b)(2).
on other weekly or monthly p.m.-settled products of CBOE’s Nonstandard Expirations Pilot Program
19 As noted above, the Notices were published for from other exchanges is publicly available, a time to include Monday Expirations); 76909 (January 14,
comment in the Federal Register on November 27, series analysis of open interest in weekly expiration 2016), 81 FR 3512 (January 21, 2016) (SR–CBOE–
2017 and the comment period closed on December (‘‘Weekly Expiration’’) and end of month (‘‘EOM’’) 2015–106) (Order approving expansion of CBOE’s
series compared to open interest in weekly or Nonstandard Expirations Pilot Program to include
12, 2017. Accordingly, the 30th day after
monthly p.m.-settled products of other exchanges in Wednesday Expirations); 62911 (September 14,
publication of the Notices is December 27, 2017.
order to determine whether users are shifting 2010), 75 FR 57539 (September 21, 2010) (SR–
20 See notes 15 and 17, supra.
positions from other weekly or monthly p.m.-settled CBOE–2009–075) (Order approving CBOE’s
21 15 U.S.C. 78s(b)(2). products to the Weekly Expiration and EOM series. Nonstandard Expirations Pilot Program).
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Document Created: 2018-10-25 11:01:15
Document Modified: 2018-10-25 11:01:15
| 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 60649 |
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