83 FR 15435 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Chapter VI of the Exchange's Schedule of Fees
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 69 (April 10, 2018)
Federal Register Volume 83, Issue 69 (April 10, 2018)
| Page Range | 15435-15437 | |
| FR Document | 2018-07240 |
[Federal Register Volume 83, Number 69 (Tuesday, April 10, 2018)] [Notices] [Pages 15435-15437] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-07240] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82989; File No. SR-ISE-2018-24] Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Chapter VI of the Exchange's Schedule of Fees April 4, 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 March 22, 2018, Nasdaq ISE, LLC (``ISE'' 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 amend Chapter VI of the Exchange's Schedule of Fees, as described below. The text of the proposed rule change is available on the Exchange's website at http://ise.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. [[Page 15436]] 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 Chapter VI.E of its Schedule of Fees to harmonize it with the rules of Nasdaq BX, Inc. (``BX''). The amendments eliminate or replace certain obsolete language in the Schedule of Fees. Specifically, the Exchange proposes to amend Chapter VI.E.2, under the heading ``Market Data Connectivity,'' to re- categorize and to update references to the CBOE/Bats/Direct Edge data feeds to reflect their current names. Similarly, the Exchange proposes to delete a $1,000 installation fee that presently applies to the Direct Edge feeds because the Direct Edge feeds are now offerings of CBOE, along with the BZX and BYX feeds. Going forward, a single, one- time $1,000 installation fee will apply to subscribers to any or all of the CBOE data feeds. The Exchange notes that this proposal will render this paragraph of Chapter VI.E.2 consistent with BX Rule 7034. The Exchange also proposes to correct a typographical error in the name of the TSXV Level 2 Feed. Finally, the proposal adds a footnote to the first line of Chapter VI.E, which was mistakenly omitted from the Schedule of Fees, which states that the co-location services described therein are provided by Nasdaq Technology Services LLC. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\3\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\4\ 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. The Exchange believes that its proposal to update Chapter VI.E.2 will serve the interests of the public and investors by ensuring that the Exchange's Rules are accurate and current with respect to the names of the third party data feeds to which it offers connectivity. Furthermore, the Exchange believes that it is in the public interest to correct typographical errors that could otherwise lead to confusion. These proposals will not impact competition or limit access to or availability of the Exchange or its systems. The Exchange notes the proposal is noncontroversial because BX has made the same changes to its rules. --------------------------------------------------------------------------- \3\ 15 U.S.C. 78f(b). \4\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange's proposal to eliminate the $1,000 installation fee that presently applies to the Direct Edge feeds is consistent with Section 6(b) of the Act,\5\ in general, and furthers the objectives of Sections 6(b)(4) and 6(b)(5) of the Act,\6\ in particular, in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility, and is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. The proposal is reasonable because the Direct Edge feeds are now offerings of CBOE, along with the BZX and BYX feeds. The Exchange believes it is equitable, going forward, to charge a single, one-time $1,000 installation fee to subscribers to any or all of the CBOE data feeds, including the BZX Depth, BYX Depth, EDGA Depth, and EDGX Depth feeds. This proposal is not unfairly discriminatory because it will apply to all similarly situated customers of the CBOE data feeds. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(4) and (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. In this instance, the proposed changes merely replace obsolete text, update references to data feeds, and add inadvertently omitted text. The Exchange does not intend for or expect that such changes will have any impact on competition. 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) of the Act \7\ and Rule 19b- 4(f)(6) thereunder.\8\ --------------------------------------------------------------------------- \7\ 15 U.S.C. 78s(b)(3)(A). \8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 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 pursuant to Rule 19b-4(f)(6) under the Act \9\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \10\ 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 may become operative upon filing. Waiver of the operative delay would allow the Exchange to update its rules without delay to reflect current and accurate information with respect to the third party data feeds to which it offers connectivity and to correct typographical errors. The Commission also notes that BX recently made similar changes to its rules.\11\ 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.\12\ --------------------------------------------------------------------------- \9\ 17 CFR 240.19b-4(f)(6). \10\ 17 CFR 240.19b-4(f)(6)(iii). \11\ See Securities Exchange Act Release No. 82628 (February 5, 2018), 83 FR 5818 (February 9, 2018) (SR-BX-2018-006). \12\ 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. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, [[Page 15437]] 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-ISE-2018-24 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-ISE-2018-24. 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-ISE-2018-24, and should be submitted on or before May 1, 2018 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-07240 Filed 4-9-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 69 / Tuesday, April 10, 2018 / Notices 15435
which it was filed, or such shorter time IV. Solicitation of Comments For the Commission, by the Division of
as the Commission may designate, it has Trading and Markets, pursuant to delegated
become effective pursuant to Section Interested persons are invited to authority.13
19(b)(3)(A) of the Act 7 and Rule 19b– submit written data, views, and Eduardo A. Aleman,
4(f)(6) thereunder.8 arguments concerning the foregoing, Assistant Secretary.
including whether the proposed rule [FR Doc. 2018–07241 Filed 4–9–18; 8:45 am]
A proposed rule change filed
change is consistent with the Act. BILLING CODE 8011–01–P
pursuant to Rule 19b–4(f)(6) under the
Comments may be submitted by any of
Act 9 normally does not become
the following methods:
operative for 30 days after the date of its
SECURITIES AND EXCHANGE
filing. However, Rule 19b–4(f)(6)(iii) 10 Electronic Comments COMMISSION
permits the Commission to designate a
shorter time if such action is consistent • Use the Commission’s internet
comment form (http://www.sec.gov/ [Release No. 34–82989; File No. SR–ISE–
with the protection of investors and the
rules/sro.shtml); or 2018–24]
public interest. The Exchange has
requested that the Commission waive • Send an email to rule-comments@ Self-Regulatory Organizations; Nasdaq
the 30-day operative delay so that the sec.gov. Please include File Number SR– ISE, LLC; Notice of Filing and
proposed rule change may become MRX–2018–10 on the subject line. Immediate Effectiveness of Proposed
operative upon filing. Waiver of the Rule Change To Amend Chapter VI of
operative delay would allow the Paper Comments
the Exchange’s Schedule of Fees
Exchange to update its rules without • Send paper comments in triplicate
delay to reflect current and accurate April 4, 2018.
to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) of the
information with respect to the third Commission, 100 F Street NE,
party data feeds to which it offers Securities Exchange Act of 1934
Washington, DC 20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2
connectivity and to correct
typographical errors. The Commission All submissions should refer to File notice is hereby given that on March 22,
also notes that BX recently made similar Number SR–MRX–2018–10. This file 2018, Nasdaq ISE, LLC (‘‘ISE’’ or
changes to its rules.11 Therefore, the number should be included on the ‘‘Exchange’’) filed with the Securities
Commission believes that waiver of the subject line if email is used. To help the and Exchange Commission
30-day operative delay is consistent Commission process and review your (‘‘Commission’’) the proposed rule
with the protection of investors and the comments more efficiently, please use change as described in Items I and II
public interest. Accordingly, the only one method. The Commission will below, which Items have been prepared
Commission hereby waives the by the Exchange. The Commission is
post all comments on the Commission’s
operative delay and designates the publishing this notice to solicit
internet website (http://www.sec.gov/
proposed rule change operative upon comments on the proposed rule change
rules/sro.shtml). Copies of the
filing.12 from interested persons.
submission, all subsequent
At any time within 60 days of the amendments, all written statements I. Self-Regulatory Organization’s
filing of the proposed rule change, the with respect to the proposed rule Statement of the Terms of Substance of
Commission summarily may change that are filed with the the Proposed Rule Change
temporarily suspend such rule change if Commission, and all written The Exchange proposes to amend
it appears to the Commission that such communications relating to the Chapter VI of the Exchange’s Schedule
action is necessary or appropriate in the proposed rule change between the of Fees, as described below. The text of
public interest, for the protection of Commission and any person, other than the proposed rule change is available on
investors, or otherwise in furtherance of those that may be withheld from the the Exchange’s website at http://
the purposes of the Act. If the public in accordance with the ise.cchwallstreet.com/, at the principal
Commission takes such action, the provisions of 5 U.S.C. 552, will be office of the Exchange, and at the
Commission shall institute proceedings available for website viewing and Commission’s Public Reference Room.
to determine whether the proposed rule printing in the Commission’s Public II. Self-Regulatory Organization’s
change should be approved or Reference Room, 100 F Street NE, Statement of the Purpose of, and
disapproved. Washington, DC 20549 on official Statutory Basis for, the Proposed Rule
business days between the hours of Change
7 15 U.S.C. 78s(b)(3)(A). 10:00 a.m. and 3:00 p.m. Copies of the
8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– In its filing with the Commission, the
filing also will be available for
4(f)(6)(iii) requires a self-regulatory organization to Exchange included statements
give the Commission written notice of its intent to inspection and copying at the principal
concerning the purpose of and basis for
file the proposed rule change, along with a brief office of the Exchange. All comments the proposed rule change and discussed
description and text of the proposed rule change, received will be posted without change.
at least five business days prior to the date of filing any comments it received on the
of the proposed rule change, or such shorter time Persons submitting comments are proposed rule change. The text of these
as designated by the Commission. The Exchange cautioned that we do not redact or edit statements may be examined at the
has satisfied this requirement. personal identifying information from
9 17 CFR 240.19b–4(f)(6). places specified in Item IV below. The
comment submissions. You should Exchange has prepared summaries, set
daltland on DSKBBV9HB2PROD with NOTICES
10 17 CFR 240.19b–4(f)(6)(iii).
11 See Securities Exchange Act Release No. 82628 submit only information that you wish forth in sections A, B, and C below, of
(February 5, 2018), 83 FR 5818 (February 9, 2018) to make available publicly. All the most significant aspects of such
(SR–BX–2018–006). submissions should refer to File statements.
12 For purposes only of waiving the 30-day
Number SR–MRX–2018–10, and should
operative delay, the Commission also has
considered the proposed rule’s impact on be submitted on or before May 1, 2018. 13 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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![Federal Register / Vol. 83, No. 69 / Tuesday, April 10, 2018 / Notices 15437
including whether the proposed rule SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
change is consistent with the Act. COMMISSION Statement of the Purpose of, and the
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
the following methods: [Release No. 34–82993; File No. SR– Change
Electronic Comments NYSEArca–2018–19] 1. Purpose
• Use the Commission’s internet Self-Regulatory Organizations; NYSE The Exchange proposes to amend the
comment form (http://www.sec.gov/ Fee Schedule to clarify the description
Arca, Inc.; Notice of Filing and
rules/sro.shtml); or of the ORF.
Immediate Effectiveness of Proposed The Exchange charges an ORF in the
• Send an email to rule-comments@ Rule Change To Amend the NYSE Arca amount of $0.0055 per contract side.
sec.gov. Please include File Number SR– Options Fee Schedule With Respect to The proposed rule change does not
ISE–2018–24 on the subject line. the Options Regulatory Fee change the amount of the ORF, but
Paper Comments April 4, 2018. instead modifies the rule text to clarify
how the ORF is assessed and collected.
• Send paper comments in triplicate Pursuant to Section 19(b)(1) 1 of the Currently, the Exchange describes the
to Secretary, Securities and Exchange Securities Exchange Act of 1934 (the ORF as follows:
Commission, 100 F Street NE, ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Washington, DC 20549–1090. The Options Regulatory Fee will be
notice is hereby given that, on March assessed on each OTP Holder or OTP Firm
All submissions should refer to File 23, 2018, NYSE Arca, Inc. (the for all options transactions executed or
Number SR–ISE–2018–24. This file ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with cleared by the OTP Holder or OTP Firm that
number should be included on the the Securities and Exchange are cleared by The Options Clearing
subject line if email is used. To help the Commission (the ‘‘Commission’’) the Corporation (‘‘OCC’’) in the customer range
Commission process and review your regardless of the exchange on which the
proposed rule change as described in transaction occurs. The fee is collected
comments more efficiently, please use Items I, II, and III below, which Items indirectly from OTP Holders or OTP Firms
only one method. The Commission will have been prepared by the self- through their clearing firms by the OCC on
post all comments on the Commission’s regulatory organization. The behalf of NYSE Arca. Effective December 1,
internet website (http://www.sec.gov/ Commission is publishing this notice to 2012, an OTP Holder or OTP Firm shall not
rules/sro.shtml). Copies of the be assessed the fee until it has satisfied
solicit comments on the proposed rule
submission, all subsequent applicable technological requirements
change from interested persons.
amendments, all written statements necessary to commence operations on NYSE
with respect to the proposed rule I. Self-Regulatory Organization’s Arca. The Exchange may only increase or
change that are filed with the Statement of the Terms of Substance of decrease the Options Regulatory Fee semi-
Commission, and all written annually, and any such fee change will be
the Proposed Rule Change effective on the first business day of February
communications relating to the or August. The Exchange will notify
proposed rule change between the The Exchange proposes to amend the participants via a Trader Update of any
Commission and any person, other than NYSE Arca Options Fee Schedule (‘‘Fee change in the amount of the fee at least 30
those that may be withheld from the Schedule’’) by modifying the calendar days prior to the effective date of
public in accordance with the description of the Options Regulatory the change.4
provisions of 5 U.S.C. 552, will be Fee (‘‘ORF’’). The proposed rule change The Exchange proposes to modify this
available for website viewing and is available on the Exchange’s website at description to more accurately reflect
printing in the Commission’s Public www.nyse.com, at the principal office of how the ORF is imposed. Specifically,
Reference Room, 100 F Street NE, the Exchange, and at the Commission’s the ORF is assessed to each OTP Holder
Washington, DC 20549 on official Public Reference Room. or OTP Firm (referred to herein
business days between the hours of collectively as ‘‘OTP Holders’’) for all
10:00 a.m. and 3:00 p.m. Copies of the II. Self-Regulatory Organization’s
options transactions cleared (but not
filing also will be available for Statement of the Purpose of, and
necessarily executed) by an OTP Holder
inspection and copying at the principal Statutory Basis for, the Proposed Rule
through the OCC in the customer range
office of the Exchange. All comments Change regardless of the exchange on which the
received will be posted without change. transaction occurs. The ORF is only
Persons submitting comments are In its filing with the Commission, the
self-regulatory organization included assessed to OTP Holders that act as the
cautioned that we do not redact or edit clearing firm for the transaction,
personal identifying information from statements concerning the purpose of,
and basis for, the proposed rule change regardless of whether the executing firm
comment submissions. You should (if different from the clearing firm) is an
submit only information that you wish and discussed any comments it received
OTP Holder.5 Thus, the Exchange
to make available publicly. All on the proposed rule change. The text
proposes to delete the words ‘‘executed
submissions should refer to File of those statements may be examined at
or’’ from the current description of the
Number SR–ISE–2018–24, and should the places specified in Item IV below. ORF, and to make clear that the ORF is
be submitted on or before May 1, 2018 The Exchange has prepared summaries, assessed ‘‘to each OTP Holder or OTP
For the Commission, by the Division of set forth in sections A, B, and C below,
Trading and Markets, pursuant to delegated of the most significant parts of such 4 See Fee Schedule, NYSE Arca GENERAL
daltland on DSKBBV9HB2PROD with NOTICES
authority.13 statements. OPTIONS and TRADING PERMIT (OTP) FEES,
Eduardo A. Aleman, Regulatory Fees, Options Regulatory Fee, available
here, https://www.nyse.com/publicdocs/nyse/
Assistant Secretary. markets/arca-options/NYSE_Arca_Options_Fee_
[FR Doc. 2018–07240 Filed 4–9–18; 8:45 am] Schedule.pdf.
5 The Exchange uses reports from OCC to
BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1).
determine the identity of the clearing firm and
2 15 U.S.C. 78a. compares that to the list of OTP Holders for billing
13 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. purposes.
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Document Created: 2018-04-09 23:51:37
Document Modified: 2018-04-09 23:51:37
| 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 15435 |
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