83 FR 20110 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make a Non-Substantive, Clarifying Change To Footnote 10 of Its Price List

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 88 (May 7, 2018)

Page Range		20110-20111
FR Document		2018-09575
Federal Register, Volume 83 Issue 88 (Monday, May 7, 2018)
[Federal Register Volume 83, Number 88 (Monday, May 7, 2018)]
[Notices]
[Pages 20110-20111]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09575]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83145; File No. SR-NYSE-2018-16]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Make a Non-Substantive, Clarifying Change To Footnote 10 of Its Price 
List

May 1, 2018.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on April 19, 2018, New York Stock Exchange LLC (``NYSE'' or 
the ``Exchange'') filed with the Securities and Exchange Commission 
(the ``Commission'') the proposed rule change as described in Items I, 
II, and III below, which Items have been prepared by the self-
regulatory organization. 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\ 15 U.S.C. 78a.
    \3\ 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 make a non-substantive, clarifying change 
to footnote 10 of its Price List. The Exchange proposes to implement 
these changes to its Price List effective April 20, 2018. The proposed 
rule change is available on the Exchange's website at www.nyse.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 self-regulatory organization 
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 those 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 parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to make a non-substantive, clarifying change 
to footnote 10 of its Price List.
    The Exchange proposes to implement this change to its Price List 
effective April 20, 2018.
Proposed Rule Change
    Footnote 10 of the current Price List provides the following 
definition of ``last modified'' in connection with fees for 
Discretionary e-Quotes (``d-Quotes'') differentiated by time of entry 
(or last modification) above the first 750,000 average daily volume 
(``ADV'') of aggregate executions at the close based on the time of d-
Quote entry:

    As used herein, ``last modified'' means the later of the order's 
entry time or the final modification or cancellation time for any d-
Quote order with the same broker badge, entering firm mnemonic, 
symbol, and side.

    The Exchange proposes a non-substantive change to clarify that the 
final modification or cancellation time in the second clause relates to 
d-Quotes designated for the closing auction.\4\
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    \4\ See NYSE Rule 70.25(a)(ii) (d-Quotes ``may include 
instructions to participate in the opening or closing transaction 
only'').
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    To effect this change, the Exchange would add the phrase 
``designated for the close'' following ``d-Quote order.''
* * * * *
    The proposed changes are not otherwise intended to address any 
other issues, and the Exchange is not aware of any problems that member 
organizations would have in complying with the proposed change.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\5\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act \6\ in that it provides for 
the equitable allocation of reasonable dues, fees, and other charges 
among its members, issuers and other persons using its facilities and 
does not unfairly discriminate between customers, issuers, brokers or 
dealers, and Section 6(b)(5) of the Act \7\ in that it is designed to 
prevent fraudulent and manipulative

[[Page 20111]]

acts and practices, to promote just and equitable principles of trade, 
to foster cooperation and coordination with persons engaged in 
regulating, clearing, settling, processing information with respect to, 
and facilitating transactions in securities, to remove impediments to, 
and perfect the mechanisms of, a free and open market and a national 
market system and, in general, to protect investors and the public 
interest.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4) and (5).
    \7\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that the proposed non-substantive change 
would remove impediments to, and perfect the mechanisms of, a free and 
open market and a national market system and, in general, protect 
investors and the public interest because they are designed to provide 
greater specificity and clarity to the Price List, thereby removing 
impediments to and perfecting the mechanism of a free and open market 
and a national market system, and, in general, protecting investors and 
the public interest. The proposed change to footnote 10 would not alter 
the application of any fees or rebates on the Price List. As such, the 
proposed changes would foster cooperation and coordination with persons 
engaged in facilitating transactions in securities and would remove 
impediments to and perfect the mechanism of a free and open market and 
a national exchange system. In particular, the Exchange believes that 
the proposed change would provide greater clarity to members and member 
organizations and the public regarding the Exchange's Rules. It is in 
the public interest for rules to be accurate and concise so as to 
eliminate the potential for confusion.
    For the foregoing reasons, the Exchange believes that the proposal 
is consistent with the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\8\ the Exchange 
believes that the proposed rule change would not impose any burden on 
competition that is not necessary or appropriate in furtherance of the 
purposes of the Act. Instead, the proposed changes will have no impact 
on competition as they are not designed to address any competitive 
issues but rather are designed to make non-substantive technical 
corrections and update the Exchange's Price List.
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    \8\ 15 U.S.C. 78f(b)(8).
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C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \10\ thereunder, because it establishes a due, fee, or other charge 
imposed by the Exchange.
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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(2).
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    At any time within 60 days of the filing of such 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 under 
Section 19(b)(2)(B) \11\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \11\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSE-2018-16 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE, 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2018-16. 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-NYSE-2018-16 and should be submitted on 
or before May 29, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-09575 Filed 5-4-18; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 83, No. 88 / Monday, May 7, 2018 / Notices 20111

acts and practices, to promote just and C. Self-Regulatory Organization’s rules/sro.shtml). Copies of the
equitable principles of trade, to foster Statement on Comments on the submission, all subsequent
cooperation and coordination with Proposed Rule Change Received From amendments, all written statements
persons engaged in regulating, clearing, Members, Participants, or Others with respect to the proposed rule
settling, processing information with No written comments were solicited change that are filed with the
respect to, and facilitating transactions or received with respect to the proposed Commission, and all written
in securities, to remove impediments to, rule change. communications relating to the
and perfect the mechanisms of, a free proposed rule change between the
III. Date of Effectiveness of the Commission and any person, other than
and open market and a national market
Proposed Rule Change and Timing for those that may be withheld from the
system and, in general, to protect Commission Action public in accordance with the
investors and the public interest.
The foregoing rule change is effective provisions of 5 U.S.C. 552, will be
The Exchange believes that the upon filing pursuant to Section available for website viewing and
proposed non-substantive change would 19(b)(3)(A) 9 of the Act and printing in the Commission’s Public
remove impediments to, and perfect the subparagraph (f)(2) of Rule 19b–4 10 Reference Room, 100 F Street NE,
mechanisms of, a free and open market thereunder, because it establishes a due, Washington, DC 20549 on official
and a national market system and, in fee, or other charge imposed by the business days between the hours of
general, protect investors and the public Exchange. 10:00 a.m. and 3:00 p.m. Copies of the
interest because they are designed to At any time within 60 days of the filing also will be available for
provide greater specificity and clarity to filing of such proposed rule change, the inspection and copying at the principal
the Price List, thereby removing Commission summarily may office of the Exchange. All comments
impediments to and perfecting the temporarily suspend such rule change if received will be posted without change.
mechanism of a free and open market it appears to the Commission that such Persons submitting comments are
and a national market system, and, in action is necessary or appropriate in the cautioned that we do not redact or edit
general, protecting investors and the public interest, for the protection of personal identifying information from
investors, or otherwise in furtherance of comment submissions. You should
public interest. The proposed change to
the purposes of the Act. If the submit only information that you wish
footnote 10 would not alter the to make available publicly. All
application of any fees or rebates on the Commission takes such action, the
Commission shall institute proceedings submissions should refer to File
Price List. As such, the proposed Number SR–NYSE–2018–16 and should
changes would foster cooperation and under Section 19(b)(2)(B) 11 of the Act to
determine whether the proposed rule be submitted on or before May 29, 2018.
coordination with persons engaged in
change should be approved or For the Commission, by the Division of
facilitating transactions in securities and Trading and Markets, pursuant to delegated
disapproved.
would remove impediments to and authority.12
perfect the mechanism of a free and IV. Solicitation of Comments Eduardo A. Aleman,
open market and a national exchange Interested persons are invited to Assistant Secretary.
system. In particular, the Exchange submit written data, views, and [FR Doc. 2018–09575 Filed 5–4–18; 8:45 am]
believes that the proposed change arguments concerning the foregoing, BILLING CODE 8011–01–P
would provide greater clarity to including whether the proposed rule
members and member organizations and change is consistent with the Act.
the public regarding the Exchange’s Comments may be submitted by any of SECURITIES AND EXCHANGE
Rules. It is in the public interest for the following methods: COMMISSION
rules to be accurate and concise so as to Electronic Comments [Release No. 34–83142; File No. SR–
eliminate the potential for confusion. NASDAQ–2018–032]
• Use the Commission’s internet
For the foregoing reasons, the comment form (http://www.sec.gov/
Exchange believes that the proposal is Self-Regulatory Organizations; The
rules/sro.shtml); or Nasdaq Stock Market LLC; Notice of
consistent with the Act. • Send an email to rule-comments@ Filing and Immediate Effectiveness of
B. Self-Regulatory Organization’s sec.gov. Please include File Number SR– Proposed Rule Change to List and
Statement on Burden on Competition NYSE–2018–16 on the subject line. Trade Exchange-Traded Managed
Paper Comments Fund Shares of the Gabelli Pet Parent
In accordance with Section 6(b)(8) of Fund Under Nasdaq Rule 5745
the Act,8 the Exchange believes that the • Send paper comments in triplicate
proposed rule change would not impose to Brent J. Fields, Secretary, Securities May 1, 2018.
and Exchange Commission, 100 F Street Pursuant to Section 19(b)(1) of the
any burden on competition that is not
NE, Washington, DC 20549–1090. Securities Exchange Act of 1934
necessary or appropriate in furtherance
of the purposes of the Act. Instead, the All submissions should refer to File (‘‘Act’’),1 and Rule 19b–4 thereunder,2
Number SR–NYSE–2018–16. This file notice is hereby given that on April 18,
proposed changes will have no impact
number should be included on the 2018, The Nasdaq Stock Market LLC
on competition as they are not designed
subject line if email is used. To help the (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
to address any competitive issues but
Commission process and review your Securities and Exchange Commission
rather are designed to make non- comments more efficiently, please use (‘‘Commission’’) the proposed rule
daltland on DSKBBV9HB2PROD with NOTICES

substantive technical corrections and only one method. The Commission will change as described in Items I and II
update the Exchange’s Price List. post all comments on the Commission’s below, which Items have been prepared
internet website (http://www.sec.gov/ by the Exchange. The Commission is
9 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 200.30–3(a)(12).
10 17 CFR 240.19b–4(f)(2). 1 15 U.S.C. 78s(b)(1).
8 15 U.S.C. 78f(b)(8). 11 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4.

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Document Created: 2018-05-05 02:48:22
Document Modified: 2018-05-05 02:48:22
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 20110