83 FR 17461 - Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Correct a Typographical Error Within Chapter VI, Section 9 of the BX Rules

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 76 (April 19, 2018)

Page Range		17461-17462
FR Document		2018-08154
Federal Register, Volume 83 Issue 76 (Thursday, April 19, 2018)
[Federal Register Volume 83, Number 76 (Thursday, April 19, 2018)]
[Notices]
[Pages 17461-17462]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-08154]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83047; File No. SR-BX-2018-012]


Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Correct a 
Typographical Error Within Chapter VI, Section 9 of the BX Rules

April 13, 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 April 10, 2018, Nasdaq BX, Inc. (``BX'' 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 Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to correct a typographical error within BX 
Rule Chapter VI, Section 9.
    The text of the proposed rule change is available on the Exchange's 
website at http://nasdaqbx.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 purpose of this rule change is amend Chapter VI, Section 9, 
entitled ``Price Improvement Auction (``PRISM'')'' at Section 9(i)(C). 
The Exchange proposes to amend the following sentence:

    If the PRISM Order is for the account of a broker dealer or any 
other person or entity that is not a Public Customer and such order 
is for 50 option contracts of more, or if the difference between the 
NBBO is greater than $0.01, the Initiating Participant must stop the 
entire PRISM Order at a price that is the better of: (i) The BX BBO 
price improved by at least the Minimum Increment on the same side of 
the market as the PRISM Order, or (ii) the PRISM Order's limit price 
(if the order is a limit order), provided in either case that such 
price is at or better than the NBBO.

    The Exchange proposes to replace the ``of'' with an ``or.'' The 
Exchange believes that amending the rule will bring greater clarity to 
the rule.
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 and to protect investors and the 
public interest by correcting a typographical error within the rule to 
bring greater clarity to the rule. The Exchange inadvertently inserted 
the word ``of'' instead of ``or'' within Chapter VI, Section 9(i)(C). 
This is a non-substantive correction to the current rule.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
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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 inadvertently 
inserted the word ``of'' instead of ``or'' within Chapter VI, Section 
9(i)(C). This is a non-substantive correction to the current rule.

[[Page 17462]]

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 \5\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\6\
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    \5\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \6\ 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 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.
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is: (i) 
Necessary or appropriate in the public interest; (ii) for the 
protection of investors; or (iii) otherwise in furtherance of the 
purposes of the Act. If the Commission takes such action, the 
Commission shall institute proceedings to determine whether the 
proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-BX-2018-012 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-BX-2018-012. 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-BX-2018-012 and should be submitted on 
or before May 10, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08154 Filed 4-18-18; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices 17461

IV. Solicitation of Comments For the Commission, by the Division of the most significant aspects of such
Trading and Markets, pursuant to delegated statements.
Interested persons are invited to authority.5
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
including whether the proposed rule [FR Doc. 2018–08156 Filed 4–18–18; 8:45 am] Statutory Basis for, the Proposed Rule
change is consistent with the Act. BILLING CODE 8011–01–P
Change
Comments may be submitted by any of 1. Purpose
the following methods:
SECURITIES AND EXCHANGE The purpose of this rule change is
Electronic Comments COMMISSION amend Chapter VI, Section 9, entitled
• Use the Commission’s internet ‘‘Price Improvement Auction
comment form (http://www.sec.gov/ [Release No. 34–83047; File No. SR–BX– (‘‘PRISM’’)’’ at Section 9(i)(C). The
rules/sro.shtml); or 2018–012] Exchange proposes to amend the
• Send an email to rule-comments@ following sentence:
Self-Regulatory Organizations; Nasdaq
sec.gov. Please include File Number SR– BX, Inc.; Notice of Filing and If the PRISM Order is for the account of a
MRX–2018–11 on the subject line. Immediate Effectiveness of Proposed broker dealer or any other person or entity
Rule Change To Correct a that is not a Public Customer and such order
Paper Comments is for 50 option contracts of more, or if the
Typographical Error Within Chapter VI,
difference between the NBBO is greater than
• Send paper comments in triplicate Section 9 of the BX Rules
$0.01, the Initiating Participant must stop the
to Secretary, Securities and Exchange April 13, 2018. entire PRISM Order at a price that is the
Commission, 100 F Street NE, Pursuant to Section 19(b)(1) of the better of: (i) The BX BBO price improved by
Washington, DC 20549–1090. Securities Exchange Act of 1934 at least the Minimum Increment on the same
All submissions should refer to File (‘‘Act’’),1 and Rule 19b–4 thereunder,2 side of the market as the PRISM Order, or (ii)
Number SR–MRX–2018–11. This file notice is hereby given that on April 10, the PRISM Order’s limit price (if the order is
number should be included on the 2018, Nasdaq BX, Inc. (‘‘BX’’ or a limit order), provided in either case that
‘‘Exchange’’) filed with the Securities such price is at or better than the NBBO.
subject line if email is used. To help the
Commission process and review your and Exchange Commission
(‘‘Commission’’) the proposed rule The Exchange proposes to replace the
comments more efficiently, please use ‘‘of’’ with an ‘‘or.’’ The Exchange
only one method. The Commission will change as described in Items I, II, and
III, below, which Items have been believes that amending the rule will
post all comments on the Commission’s bring greater clarity to the rule.
prepared by the Exchange. The
internet website (http://www.sec.gov/
Commission is publishing this notice to 2. Statutory Basis
rules/sro.shtml). Copies of the
solicit comments on the proposed rule
submission, all subsequent change from interested persons. The Exchange believes that its
amendments, all written statements proposal is consistent with Section 6(b)
with respect to the proposed rule I. Self-Regulatory Organization’s
Statement of the Terms of Substance of of the Act,3 in general, and furthers the
change that are filed with the objectives of Section 6(b)(5) of the Act,4
Commission, and all written the Proposed Rule Change
in particular, in that it is designed to
communications relating to the The Exchange proposes to correct a promote just and equitable principles of
proposed rule change between the typographical error within BX Rule trade and to protect investors and the
Commission and any person, other than Chapter VI, Section 9. public interest by correcting a
those that may be withheld from the The text of the proposed rule change typographical error within the rule to
public in accordance with the is available on the Exchange’s website at
bring greater clarity to the rule. The
provisions of 5 U.S.C. 552, will be http://nasdaqbx.cchwallstreet.com/, at
Exchange inadvertently inserted the
available for website viewing and the principal office of the Exchange, and
at the Commission’s Public Reference word ‘‘of’’ instead of ‘‘or’’ within
printing in the Commission’s Public Chapter VI, Section 9(i)(C). This is a
Reference Room, 100 F Street NE, Room.
non-substantive correction to the
Washington, DC 20549, on official II. Self-Regulatory Organization’s current rule.
business days between the hours of Statement of the Purpose of, and
10:00 a.m. and 3:00 p.m. Copies of the Statutory Basis for, the Proposed Rule B. Self-Regulatory Organization’s
filing also will be available for Change Statement on Burden on Competition
inspection and copying at the principal
In its filing with the Commission, the The Exchange does not believe that
office of the Exchange. All comments Exchange included statements
received will be posted without change. the proposed rule change will impose
concerning the purpose of and basis for any burden on competition not
Persons submitting comments are the proposed rule change and discussed
cautioned that we do not redact or edit necessary or appropriate in furtherance
any comments it received on the of the purposes of the Act. The
personal identifying information from proposed rule change. The text of these
comment submissions. You should Exchange inadvertently inserted the
statements may be examined at the word ‘‘of’’ instead of ‘‘or’’ within
daltland on DSKBBV9HB2PROD with NOTICES

submit only information that you wish places specified in Item IV below. The
to make available publicly. All Chapter VI, Section 9(i)(C). This is a
Exchange has prepared summaries, set
submissions should refer to File non-substantive correction to the
forth in sections A, B, and C below, of
Number SR–MRX–2018–11and should current rule.
be submitted on or before May 10, 2018. 5 17 CFR 200.30–3(a)(12).
1 15 3 15 U.S.C. 78f(b).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4. 4 15 U.S.C. 78f(b)(5).

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17462 Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices

C. Self-Regulatory Organization’s number should be included on the (‘‘Commission’’), pursuant to Section
Statement on Comments on the subject line if email is used. To help the 19(b)(1) of the Securities Exchange Act
Proposed Rule Change Received From Commission process and review your of 1934 (‘‘Act’’) 1 and Rule 19b–4
Members, Participants, or Others comments more efficiently, please use thereunder,2 a proposed rule change to
No written comments were either only one method. The Commission will list and trade shares (‘‘Shares’’) of the
solicited or received. post all comments on the Commission’s Horizons Russell 2000 Covered Call ETF
internet website (http://www.sec.gov/ (‘‘Fund’’). The proposed rule change
III. Date of Effectiveness of the rules/sro.shtml). Copies of the was published for comment in the
Proposed Rule Change and Timing for submission, all subsequent Federal Register on February 28, 2018.3
Commission Action amendments, all written statements The Commission received no comments
Because the foregoing proposed rule with respect to the proposed rule on the proposal. This order approves the
change does not: (i) Significantly affect change that are filed with the proposed rule change.
the protection of investors or the public Commission, and all written
communications relating to the II. Description of the Proposed Rule
interest; (ii) impose any significant Change
burden on competition; and (iii) become proposed rule change between the
operative for 30 days from the date on Commission and any person, other than The Exchange proposes to list and
which it was filed, or such shorter time those that may be withheld from the trade Shares of the Fund under Rule
as the Commission may designate, it has public in accordance with the 5705, which governs the listing and
become effective pursuant to Section provisions of 5 U.S.C. 552, will be trading of Index Fund Shares on the
19(b)(3)(A)(iii) of the Act 5 and available for website viewing and Exchange. The Shares will be offered by
subparagraph (f)(6) of Rule 19b–4 printing in the Commission’s Public the Fund, which will be a passively
thereunder.6 Reference Room, 100 F Street NE, managed exchange-traded fund (‘‘ETF’’)
At any time within 60 days of the Washington, DC 20549, on official that seeks to track the performance of
filing of the proposed rule change, the business days between the hours of the CBOE Russell 2000 30-Delta
Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the BuyWrite V2 Index (‘‘Benchmark
temporarily suspend such rule change if filing also will be available for Index’’).4 The Fund is a series of the
it appears to the Commission that such inspection and copying at the principal Horizons ETF Trust I (‘‘Trust’’).5
action is: (i) Necessary or appropriate in office of the Exchange. All comments Horizons ETF Management (US), LLC
the public interest; (ii) for the protection received will be posted without change. will serve as the investment adviser
of investors; or (iii) otherwise in Persons submitting comments are (‘‘Adviser’’) to the Fund.6 Foreside Fund
furtherance of the purposes of the Act. cautioned that we do not redact or edit
If the Commission takes such action, the personal identifying information from 1 15 U.S.C. 78s(b)(1).

Commission shall institute proceedings comment submissions. You should 2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 82761
to determine whether the proposed rule submit only information that you wish
(Feb. 22, 2018), 83 FR 8719 (‘‘Notice’’).
to make available publicly. All
should be approved or disapproved. 4 The Benchmark Index methodology is available
submissions should refer to File at: https://www.cboe.com/products/strategy-
IV. Solicitation of Comments Number SR–BX–2018–012 and should benchmark-indexes/buywrite-indexes/cboe-russell-
Interested persons are invited to be submitted on or before May 10, 2018. 2000-30-delta-buywrite-index-bxrd. The Chicago
Board Options Exchange, Incorporated (n/k/a Cboe
submit written data, views, and For the Commission, by the Division of Exchange, Inc.) (‘‘CBOE’’) is the index calculation
arguments concerning the foregoing, Trading and Markets, pursuant to delegated agent for the Benchmark Index.
including whether the proposed rule authority.7 5 The Trust is registered with the Commission as

change is consistent with the Act. Eduardo A. Aleman, an open-end management investment company and
Assistant Secretary. has filed a post-effective amendment to its
Comments may be submitted by any of registration statement on Form N–1A (‘‘Registration
the following methods: [FR Doc. 2018–08154 Filed 4–18–18; 8:45 am] Statement’’) on behalf of the Fund. See Registration
BILLING CODE 8011–01–P Statement for the Trust, filed on June 22, 2017 (File
Electronic Comments No. 333–183155). In addition, the Commission has
• Use the Commission’s internet issued an order granting certain exemptive relief to
the Trust under the 1940 Act. See Investment
comment form (http://www.sec.gov/ SECURITIES AND EXCHANGE Company Act Release No. 31961 (Jan. 19, 2016)
rules/sro.shtml); or COMMISSION (File No. 812–14461) (‘‘Exemptive Order’’).
• Send an email to rule-comments@ 6 The Exchange represents that the Adviser is not
[Release No. 34–83046; File No. SR– a broker-dealer; however, it is affiliated with two
sec.gov. Please include File Number SR– NASDAQ–2018–012] broker-dealers. A fire wall exists around the
BX–2018–012 on the subject line. respective personnel at the Adviser and affiliated
Paper Comments Self-Regulatory Organizations; The broker-dealers who have access to information
Nasdaq Stock Market LLC; Order concerning changes and adjustments to the
• Send paper comments in triplicate Granting Approval of a Proposed Rule composition and/or changes to the Fund’s portfolio.
to Secretary, Securities and Exchange In addition, such personnel will be subject to
Change To List and Trade, Under procedures designed to prevent the use and
Commission, 100 F Street NE, Nasdaq Rule 5705, the Shares of the dissemination of material non-public information
Washington, DC 20549–1090. Horizons Russell 2000 Covered Call regarding the Fund’s portfolio. The Exchange
All submissions should refer to File ETF represents that in the event (a) the Adviser, any sub-
adviser, or the Index Provider (as discussed herein)
Number SR–BX–2018–012. This file becomes registered as a broker-dealer or is newly
April 13, 2018.
affiliated with a broker dealer, or (b) any new
daltland on DSKBBV9HB2PROD with NOTICES

5 15 U.S.C. 78s(b)(3)(A)(iii). I. Introduction adviser, sub-adviser, or Index Provider is a
6 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– registered broker-dealer or becomes affiliated with
4(f)(6) requires a self-regulatory organization to give On February 9, 2018, The Nasdaq a broker dealer, then the Adviser, sub-adviser or
the Commission written notice of its intent to file Stock Market LLC (‘‘Nasdaq’’ or Index Provider will implement a fire wall with
the proposed rule change at least five business days ‘‘Exchange’’) filed with the Securities respect to its relevant personnel or such broker
prior to the date of filing of the proposed rule dealer affiliate, as applicable, regarding access to
change, or such shorter time as designated by the and Exchange Commission information concerning the composition or changes
Commission. The Exchange has satisfied this to the portfolio or concerning changes and
requirement. 7 17 CFR 200.30–3(a)(12). adjustments to the Benchmark Index and will be

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Document Created: 2018-04-19 00:41:29
Document Modified: 2018-04-19 00:41:29
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 17461