83_FR_19452 83 FR 19367 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Introduce the ATR Protection for Orders that are Routed to Away Markets

83 FR 19367 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Introduce the ATR Protection for Orders that are Routed to Away Markets

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 85 (May 2, 2018)

Page Range19367-19367
FR Document2018-09264

Federal Register, Volume 83 Issue 85 (Wednesday, May 2, 2018) 
[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Page 19367]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09264]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83119; File No. SR-ISE-2018-16]


Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of 
Designation of Longer Period for Commission Action on Proposed Rule 
Change To Introduce the ATR Protection for Orders that are Routed to 
Away Markets

April 26, 2018.
    On February 23, 2018, Nasdaq ISE, LLC (``Exchange'') 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 amend Exchange 
Rule 714 regarding the Acceptable Trade Range protection for orders and 
quotes. The proposed rule change was published for comment in the 
Federal Register on March 14, 2018.\3\ On April 20, 2018, the Exchange 
submitted Amendment No. 1 to the proposed rule change.\4\ The 
Commission received no comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 82846 (March 9, 
2018), 83 FR 11254 (``Notice'').
    \4\ See Letter to Brent J. Fields, Secretary, Commission, from 
Adrian Griffiths, Senior Associate General Counsel, Nasdaq, Inc., 
dated April 20, 2018. Amendment No. 1 revises the proposed rule 
change to: (i) Provide further discussion of the current application 
of the ATR to orders routed away; (ii) modify the proposed rule text 
regarding the recalculation of the ATR for orders routed away 
pursuant to Supplementary Material to Exchange Rule 1901, if the 
applicable National Best Bid or the National Best Offer price is 
improved at the time of routing; (iii) expand the discussion and 
justification for recalculating the ATR for such orders; and (iv) 
make other amendments to the proposed rule text to improve the 
understandability of the current ATR calculation. Amendment No. 1 is 
available at: https://www.sec.gov/comments/sr-ise-2018-16/ise201816-3483594-162248.pdf.
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    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether these proposed rule changes should be disapproved. 
The 45th day for this filing is April 28, 2018.
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    \5\ 15 U.S.C. 78s(b)(2).
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    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2)(A)(ii)(I) of the Act \6\ 
and for the reasons stated above, the Commission designates June 12, 
2018 as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to 
disapprove, the proposed rule change (File No. SR-ISE-2018-16).
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    \6\ 15 U.S.C. 78s(b)(2)(A)(ii)(I).

    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)(31).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-09264 Filed 5-1-18; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 83, No. 85 / Wednesday, May 2, 2018 / Notices 19367 Electronic Comments SECURITIES AND EXCHANGE The Commission is extending the 45- COMMISSION day time period for Commission action • Use the Commission’s internet on the proposed rule change. The comment form (http://www.sec.gov/ [Release No. 34–83119; File No. SR–ISE– Commission finds that it is appropriate rules/sro.shtml); or 2018–16] to designate a longer period within • Send an email to rule-comments@ which to take action on the proposed Self-Regulatory Organizations; Nasdaq rule change so that it has sufficient time sec.gov. Please include File Number SR– ISE, LLC; Notice of Designation of CBOE–2018–030 on the subject line. to consider and take action on the Longer Period for Commission Action Exchange’s proposed rule change. Paper Comments on Proposed Rule Change To Accordingly, pursuant to Section Introduce the ATR Protection for 19(b)(2)(A)(ii)(I) of the Act 6 and for the • Send paper comments in triplicate Orders that are Routed to Away reasons stated above, the Commission to Secretary, Securities and Exchange Markets designates June 12, 2018 as the date by Commission, 100 F Street NE, which the Commission should either April 26, 2018. Washington, DC 20549–1090. approve or disapprove, or institute On February 23, 2018, Nasdaq ISE, All submissions should refer to File proceedings to determine whether to LLC (‘‘Exchange’’) filed with the Number SR–CBOE–2018–030. This file disapprove, the proposed rule change Securities and Exchange Commission (File No. SR–ISE–2018–16). number should be included on the (‘‘Commission’’), pursuant to Section subject line if email is used. To help the 19(b)(1) of the Securities Exchange Act For the Commission, by the Division of Commission process and review your of 1934 (‘‘Act’’) 1 and Rule 19b–4 Trading and Markets, pursuant to delegated authority.7 comments more efficiently, please use thereunder,2 a proposed rule change to Eduardo A. Aleman, only one method. The Commission will amend Exchange Rule 714 regarding the Acceptable Trade Range protection for Assistant Secretary. post all comments on the Commission’s orders and quotes. The proposed rule [FR Doc. 2018–09264 Filed 5–1–18; 8:45 am] internet website (http://www.sec.gov/ rules/sro.shtml). Copies of the change was published for comment in BILLING CODE 8011–01–P submission, all subsequent the Federal Register on March 14, amendments, all written statements 2018.3 On April 20, 2018, the Exchange submitted Amendment No. 1 to the SECURITIES AND EXCHANGE with respect to the proposed rule COMMISSION change that are filed with the proposed rule change.4 The Commission Commission, and all written received no comments on the proposed [Investment Company Act Release No. communications relating to the rule change. 33076A; 812–14873] Section 19(b)(2) of the Act 5 provides proposed rule change between the Redwood Investment Management, that within 45 days of the publication of Commission and any person, other than LLC and Two Roads Shared Trust notice of the filing of a proposed rule those that may be withheld from the change, or within such longer period up public in accordance with the April 26, 2018. to 90 days as the Commission may AGENCY: Securities and Exchange provisions of 5 U.S.C. 552, will be designate if it finds such longer period available for website viewing and Commission (‘‘Commission’’). to be appropriate and publishes its ACTION: Notice. printing in the Commission’s Public reasons for so finding or as to which the Reference Room, 100 F Street NE, self-regulatory organization consents, Notice of an application for an order Washington, DC 20549 on official the Commission shall either approve the under section 6(c) of the Investment business days between the hours of proposed rule change, disapprove the Company Act of 1940 (the ‘‘Act’’) for an 10:00 a.m. and 3:00 p.m. Copies of the proposed rule change, or institute exemption from sections 2(a)(32), filing also will be available for proceedings to determine whether these 5(a)(1), 22(d), and 22(e) of the Act and inspection and copying at the principal proposed rule changes should be rule 22c–1 under the Act, under office of the Exchange. All comments disapproved. The 45th day for this filing sections 6(c) and 17(b) of the Act for an received will be posted without change; is April 28, 2018. exemption from sections 17(a)(1) and the Commission does not edit personal 17(a)(2) of the Act, and under section identifying information from 1 15 U.S.C. 78s(b)(1). 12(d)(1)(J) for an exemption from submissions. You should submit only 2 17 CFR 240.19b–4. sections 12(d)(1)(A) and 12(d)(1)(B) of 3 See Securities Exchange Act Release No. 82846 information that you wish to make the Act. The requested order would (March 9, 2018), 83 FR 11254 (‘‘Notice’’). available publicly. All submissions 4 See Letter to Brent J. Fields, Secretary, permit (a) index-based series of certain should refer to File Number SR–CBOE– Commission, from Adrian Griffiths, Senior open-end management investment 2018–030 and should be submitted on Associate General Counsel, Nasdaq, Inc., dated companies (‘‘Funds’’) to issue shares or before May 23, 2018. April 20, 2018. Amendment No. 1 revises the redeemable in large aggregations only proposed rule change to: (i) Provide further (‘‘Creation Units’’); (b) secondary market For the Commission, by the Division of discussion of the current application of the ATR to orders routed away; (ii) modify the proposed rule transactions in Fund shares to occur at Trading and Markets, pursuant to delegated negotiated market prices rather than at text regarding the recalculation of the ATR for authority.20 orders routed away pursuant to Supplementary net asset value (‘‘NAV’’); (c) certain Eduardo A. Aleman, Material to Exchange Rule 1901, if the applicable Funds to pay redemption proceeds, National Best Bid or the National Best Offer price Assistant Secretary. under certain circumstances, more than daltland on DSKBBV9HB2PROD with NOTICES is improved at the time of routing; (iii) expand the [FR Doc. 2018–09257 Filed 5–1–18; 8:45 am] discussion and justification for recalculating the seven days after the tender of shares for BILLING CODE 8011–01–P ATR for such orders; and (iv) make other redemption; (d) certain affiliated amendments to the proposed rule text to improve persons of a Fund to deposit securities the understandability of the current ATR calculation. Amendment No. 1 is available at: into, and receive securities from, the https://www.sec.gov/comments/sr-ise-2018-16/ ise201816-3483594-162248.pdf. 6 15 U.S.C. 78s(b)(2)(A)(ii)(I). 20 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 22:14 May 01, 2018 Jkt 244001 PO 00000 Frm 00157 Fmt 4703 Sfmt 4703 E:\FR\FM\02MYN1.SGM 02MYN1


Document Created: 2018-05-02 00:49:45
Document Modified: 2018-05-02 00:49:45
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation83 FR 19367 
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