83 FR 10541 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Exchange's Data Feeds
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 47 (March 9, 2018)
Federal Register Volume 83, Issue 47 (March 9, 2018)
| Page Range | 10541-10542 | |
| FR Document | 2018-04791 |
[Federal Register Volume 83, Number 47 (Friday, March 9, 2018)] [Notices] [Pages 10541-10542] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-04791] [[Page 10541]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82813; File No. SR-Phlx-2018-19] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Exchange's Data Feeds March 6, 2018. 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 February 22, 2018, 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to relocate the data feeds currently located at Rule 1000(b)45(C)(i) through (iv) to Rule 1070, which is currently reserved, and entitle it ``Data Feeds.'' The text of the proposed rule change is available on the Exchange's website at http://nasdaqphlx.cchwallstreet.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 The Exchange proposes to relocate the data feeds currently listed in Rules 1000(b)45(C)(i) through (iv) to Rule 1070, which is currently reserved, and, correspondingly, entitle the rule ``Data Feeds.'' The data feed offerings were recently added to the Exchange's rulebook (``Rulebook'') as part of the ``System'' definition in Rule 1000(b)45.\3\ The Exchange, however, considers it is appropriate to move these data feed offerings to a separate rule to better organize its Rulebook and facilitate future cross-references. The Exchange notes that the changes proposed in this filing are of a non-substantive nature. --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 82577 (January 24, 2018), 83 FR 4354 (January 30, 2018) (SR-Phlx-2018-09). --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\4\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\5\ 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 improving the way its Rulebook is organized, providing ease of reference in locating data feed offerings and providing greater transparency to its rules. As previously stated, the proposed rule relocation is non-substantive and is concerned solely with the administration of the Exchange. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 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 Exchange's proposal does not impose an undue burden on competition, rather the proposal seeks to improve its Rulebook's clarity and make non-substantive rule changes. 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 \6\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(A)(iii). \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change, along with a brief description and 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. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- 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) \8\ 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 on filing. The Exchange stated that the proposed rule change promotes the protection of investors and the public interest by improving the organization and clarity of the Exchange's Rulebook. Waiver of the operative delay would allow the Exchange, without delay, to reorganize its Rulebook in a manner that improves clarity and readability. Therefore, the Commission believes that waiver of the 30- day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission hereby waives the operative delay and designates the proposed rule change operative upon filing.\9\ --------------------------------------------------------------------------- \8\ 17 CFR 240.19b-4(f)(6)(iii). \9\ 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 necessary or appropriate in the public interest, for the protection of investors, or 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 change should be approved or disapproved. [[Page 10542]] 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-Phlx-2018-19 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-2018-19. 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 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-2018-19, and should be submitted on or before March 30, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\10\ --------------------------------------------------------------------------- \10\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-04791 Filed 3-8-18; 8:45 am] BILLING CODE P
![Federal Register / Vol. 83, No. 47 / Friday, March 9, 2018 / Notices 10541
SECURITIES AND EXCHANGE 1000(b)45(C)(i) through (iv) to Rule interest; (ii) impose any significant
COMMISSION 1070, which is currently reserved, and, burden on competition; and (iii) become
correspondingly, entitle the rule ‘‘Data operative for 30 days from the date on
[Release No. 34–82813; File No. SR–Phlx–
2018–19]
Feeds.’’ which it was filed, or such shorter time
The data feed offerings were recently as the Commission may designate, it has
Self-Regulatory Organizations; Nasdaq added to the Exchange’s rulebook become effective pursuant to Section
PHLX LLC; Notice of Filing and (‘‘Rulebook’’) as part of the ‘‘System’’ 19(b)(3)(A)(iii) of the Act 6 and
Immediate Effectiveness of Proposed definition in Rule 1000(b)45.3 The subparagraph (f)(6) of Rule 19b-4
Rule Change To Relocate the Exchange, however, considers it is thereunder.7
Exchange’s Data Feeds appropriate to move these data feed
offerings to a separate rule to better A proposed rule change filed under
March 6, 2018. organize its Rulebook and facilitate Rule 19b–4(f)(6) normally does not
Pursuant to Section 19(b)(1) of the future cross-references. The Exchange become operative for 30 days after the
Securities Exchange Act of 1934 notes that the changes proposed in this date of its filing. However, Rule 19b–
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 filing are of a non-substantive nature. 4(f)(6)(iii) 8 permits the Commission to
notice is hereby given that on February designate a shorter time if such action
22, 2018, Nasdaq PHLX LLC (‘‘Phlx’’ or 2. Statutory Basis
is consistent with the protection of
‘‘Exchange’’) filed with the Securities The Exchange believes that its investors and the public interest. The
and Exchange Commission proposal is consistent with Section 6(b) Exchange has requested that the
(‘‘Commission’’) the proposed rule of the Act,4 in general, and furthers the Commission waive the 30-day operative
change as described in Items I and II objectives of Section 6(b)(5) of the Act,5 delay so that the proposed rule change
below, which Items have been prepared in particular, in that it is designed to will become operative on filing. The
by the Exchange. The Commission is promote just and equitable principles of Exchange stated that the proposed rule
publishing this notice to solicit trade, to remove impediments to and change promotes the protection of
comments on the proposed rule change perfect the mechanism of a free and investors and the public interest by
from interested persons. open market and a national market improving the organization and clarity
system, and, in general to protect
I. Self-Regulatory Organization’s of the Exchange’s Rulebook. Waiver of
investors and the public interest, by
Statement of the Terms of Substance of the operative delay would allow the
improving the way its Rulebook is
the Proposed Rule Change Exchange, without delay, to reorganize
organized, providing ease of reference in
The Exchange proposes to relocate the locating data feed offerings and its Rulebook in a manner that improves
data feeds currently located at Rule providing greater transparency to its clarity and readability. Therefore, the
1000(b)45(C)(i) through (iv) to Rule rules. As previously stated, the Commission believes that waiver of the
1070, which is currently reserved, and proposed rule relocation is non- 30-day operative delay is consistent
entitle it ‘‘Data Feeds.’’ substantive and is concerned solely with the protection of investors and the
The text of the proposed rule change with the administration of the public interest. Accordingly, the
is available on the Exchange’s website at Exchange. Commission hereby waives the
http://nasdaqphlx.cchwallstreet.com/, operative delay and designates the
at the principal office of the Exchange, B. Self-Regulatory Organization’s proposed rule change operative upon
and at the Commission’s Public Statement on Burden on Competition filing.9
Reference Room. The Exchange does not believe that At any time within 60 days of the
the proposed rule change will impose filing of the proposed rule change, the
II. Self-Regulatory Organization’s
any burden on competition not Commission summarily may
Statement of the Purpose of, and
necessary or appropriate in furtherance temporarily suspend such rule change if
Statutory Basis for, the Proposed Rule
of the purposes of the Act. The it appears to the Commission that such
Change
Exchange’s proposal does not impose an action is necessary or appropriate in the
In its filing with the Commission, the undue burden on competition, rather
Exchange included statements public interest, for the protection of
the proposal seeks to improve its investors, or otherwise in furtherance of
concerning the purpose of and basis for Rulebook’s clarity and make non-
the proposed rule change and discussed the purposes of the Act. If the
substantive rule changes.
any comments it received on the Commission takes such action, the
proposed rule change. The text of these C. Self-Regulatory Organization’s Commission shall institute proceedings
statements may be examined at the Statement on Comments on the to determine whether the proposed rule
places specified in Item IV below. The Proposed Rule Change Received From change should be approved or
Exchange has prepared summaries, set Members, Participants, or Others disapproved.
forth in sections A, B, and C below, of No written comments were either
6 15 U.S.C. 78s(b)(3)(A)(iii).
the most significant aspects of such solicited or received.
7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
statements.
III. Date of Effectiveness of the 4(f)(6) requires a self-regulatory organization to give
A. Self-Regulatory Organization’s Proposed Rule Change and Timing for the Commission written notice of its intent to file
the proposed rule change, along with a brief
Statement of the Purpose of, and Commission Action description and text of the proposed rule change,
Statutory Basis for, the Proposed Rule Because the foregoing proposed rule at least five business days prior to the date of filing
Change change does not (i) significantly affect of the proposed rule change, or such shorter time
amozie on DSK30RV082PROD with NOTICES
as designated by the Commission. The Exchange
1. Purpose the protection of investors or the public has satisfied this requirement.
8 17 CFR 240.19b–4(f)(6)(iii).
The Exchange proposes to relocate the 3 See Securities Exchange Act Release No. 82577 9 For purposes only of waiving the 30-day
data feeds currently listed in Rules (January 24, 2018), 83 FR 4354 (January 30, 2018) operative delay, the Commission also has
(SR–Phlx–2018–09). considered the proposed rule’s impact on
1 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78f(b).
efficiency, competition, and capital formation. See
2 17 CFR 240.19b–4. 5 15 U.S.C. 78f(b)(5). 15 U.S.C. 78c(f).
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![10542 Federal Register / Vol. 83, No. 47 / Friday, March 9, 2018 / Notices
IV. Solicitation of Comments For the Commission, by the Division of of the most significant parts of such
Trading and Markets, pursuant to delegated statements.
Interested persons are invited to authority.10
submit written data, views, and Eduardo A. Aleman, A. Self-Regulatory Organization’s
arguments concerning the foregoing, Assistant Secretary. Statement of the Purpose of, and the
including whether the proposed rule [FR Doc. 2018–04791 Filed 3–8–18; 8:45 am]
Statutory Basis for, the Proposed Rule
change is consistent with the Act. Change
BILLING CODE P
Comments may be submitted by any of 1. Purpose
the following methods:
SECURITIES AND EXCHANGE The purpose of this filing is to modify
Electronic Comments
COMMISSION the Fee Schedule, effective March 1,
• Use the Commission’s internet [Release No. 34–82809; File No. SR–
2018. Specifically, the Exchange
comment form (http://www.sec.gov/ NYSEAMER–2018–06] proposes to modify the Messages to
rules/sro.shtml); or Contracts Traded Ratio Fees by
Self-Regulatory Organizations; NYSE modifying the number of messages
• Send an email to rule-comments@
American LLC; Notice of Filing and permitted by an ATP holder before
sec.gov. Please include File Number SR–
Immediate Effectiveness of Proposed excessive messages are charged.
Phlx–2018–19 on the subject line.
Change To Modify the NYSE American The Exchange proposes to modify the
Paper Comments Options Fee Schedule calculation basis for the Messages to
Contracts Traded Ratio Fees (‘‘Messages
• Send paper comments in triplicate March 6, 2018.
Pursuant to Section 19(b)(1) 1 of the Fee’’), which are assessed as part of the
to Secretary, Securities and Exchange
Securities Exchange Act of 1934 (the Monthly Excessive Bandwidth
Commission, 100 F Street NE,
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Utilization Fees.4 Currently, the
Washington, DC 20549–1090.
notice is hereby given that, on February Exchange charges $0.005 per 1,000
All submissions should refer to File 23, 2018, NYSE American LLC (the messages (including orders or quotes) in
Number SR–Phlx–2018–19. This file ‘‘Exchange’’ or ‘‘NYSE American’’) filed excess of 1.5 billion messages in a
number should be included on the with the Securities and Exchange calendar month if the ATP Holder does
subject line if email is used. To help the Commission (the ‘‘Commission’’) the not execute at least 1 contract for every
Commission process and review your proposed rule change as described in 1,500–5,000 messages entered, as
comments more efficiently, please use Items I, II, and III below, which Items determined by the Exchange.5 The
only one method. The Commission will have been prepared by the self- Exchange proposes to modify the
post all comments on the Commission’s regulatory organization. The threshold and to charge for messages in
internet website (http://www.sec.gov/ Commission is publishing this notice to excess of 3 billion messages per
rules/sro.shtml). Copies of the solicit comments on the proposed rule calendar month.
submission, all subsequent change from interested persons. During the period of recent volatility
amendments, all written statements and activity, the Exchange noted a
with respect to the proposed rule I. Self-Regulatory Organization’s
Statement of the Terms of Substance of significantly higher number of messages
change that are filed with the generated without a proportional
the Proposed Rule Change
Commission, and all written amount of executed volume, especially
communications relating to the The Exchange proposes to modify the in less active-option issues.
proposed rule change between the NYSE American Options Fee Schedule Concurrently, the Exchange saw no
Commission and any person, other than (‘‘Fee Schedule’’). The Exchange degradation in system performance
those that may be withheld from the proposes to implement the fee change because of prudent upgrades and
public in accordance with the effective March 1, 2018. The proposed expansion of the trading system in the
provisions of 5 U.S.C. 552, will be change is available on the Exchange’s past year. Thus, the Exchange believes
available for website viewing and website at www.nyse.com, at the that the proposal to increase the
printing in the Commission’s Public principal office of the Exchange, and at threshold to incur the monthly
Reference Room, 100 F Street NE, the Commission’s Public Reference Messages Fee would continue to
Washington, DC 20549 on official Room. encourage market participants to be
business days between the hours of II. Self-Regulatory Organization’s rational and efficient in the use of the
10:00 a.m. and 3:00 p.m. Copies of the Statement of the Purpose of, and Exchange’s system capacity. The
filing also will be available for Statutory Basis for, the Proposed Rule Exchange believes that the increased
inspection and copying at the principal Change threshold should also reduce the
office of the Exchange. All comments possibility of charging ATP Holders a
In its filing with the Commission, the
received will be posted without change. Messages Fee for messages designed to
self-regulatory organization included
Persons submitting comments are help maintain accurate and liquid
statements concerning the purpose of,
cautioned that we do not redact or edit markets with more narrow spreads.
and basis for, the proposed rule change
personal identifying information from and discussed any comments it received
comment submissions. You should on the proposed rule change. The text
4 See Fee Schedule, Section II (Monthly Excessive
submit only information that you wish Bandwidth Utilization Fees) (‘‘EBUF) (describing
of those statements may be examined at both the Order to Trade Ratio Fee (Section II.A) and
amozie on DSK30RV082PROD with NOTICES
to make available publicly. All the places specified in Item IV below. the Messages to Contracts Traded Ratio Fee (Section
submissions should refer to File The Exchange has prepared summaries, II.B), which comprises the EBUF, and noting that
Number SR–Phlx–2018–19, and should set forth in sections A, B, and C below, if an ATP Holder is liable for either or both fees in
be submitted on or before March 30, a given month, that firm would only be charged the
greater of the two fees). The Exchange is not
2018. 1 15 U.S.C. 78s(b)(1). proposing to modify the Order to Trade Ratio Fees.
2 15 U.S.C. 78a. 5 Currently, the Exchange has set the ratio at 1
10 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. contract for every 5,000 messages.
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Document Created: 2018-03-09 03:48:37
Document Modified: 2018-03-09 03:48:37
| 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 | 83 FR 10541 |
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