83 FR 22552 - Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Memorialize Its Order and Execution Information Into Chapter VI, Section 19, Entitled Data Feeds
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 94 (May 15, 2018)
Federal Register Volume 83, Issue 94 (May 15, 2018)
| Page Range | 22552-22554 | |
| FR Document | 2018-10259 |
[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)] [Notices] [Pages 22552-22554] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-10259] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83199; File No. SR-BX-2018-016] Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Memorialize Its Order and Execution Information Into Chapter VI, Section 19, Entitled Data Feeds May 9, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on April 27, 2018, Nasdaq BX, Inc. (``BX'' 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 a proposal to memorialize its order and execution information into Chapter VI, Section 19, entitled ``Data Feeds.'' 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 the 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to memorialize its order and execution information into Chapter VI, Section 19, entitled ``Data Feeds.'' The Exchange proposes to rename this rule ``Data Feeds and Trade Information.'' The Exchange proposes other grammatical corrections in Section 19(a) as well. Section 19(b) First, the Exchange proposes to adopt a new Section 19(b) and memorialize the following order and execution information which were previously filed by the Exchange: (1) CTI; \3\ (2) TradeInfo \4\; and (3) FIX DROP.\5\ --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 73894 (December 19, 2014), 79 FR 78119 (December 29, 1014) (SR-BX-2014-060) (``CTI and FIX DROP Filing''). \4\ See Securities Exchange Act Release No. 60826 (October 14, 2009), 74 FR 54605 (October 22, 2009) (SR-BX-2009-062) (``TradeInfo Filing''). \5\ See note 3 above. --------------------------------------------------------------------------- The Exchange originally noted in the CTI and FIX DROP Filing that CTI offers real-time clearing trade updates.\6\ The message containing the trade details is also simultaneously sent to The Options Clearing Corporation. The trade messages are routed to a member's connection containing certain information. The administrative and market event messages include, but are not limited to: System event messages to communicate operational-related events; options directory messages to relay basic option symbol and contract information for options traded on the Exchange; complex strategy messages to relay information for those strategies traded on the Exchange; trading action messages to inform market participants when a specific option or strategy is halted or released for trading on the Exchange; and an indicator which distinguishes electronic and non-electronically delivered orders. --------------------------------------------------------------------------- \6\ A real-time clearing trade update is a message that is sent to a member after an execution has occurred and contains trade details. See Securities Exchange Act Release No. 73894 (December 19, 2014), 79 FR 78119 (December 29, 1014) (SR-BX-2014-060). --------------------------------------------------------------------------- [[Page 22553]] The Exchange is proposing to more specifically describe the CTI offering and memorialize it within Section 19(b)(1). The description provides more detail as to the current functionality of CTI, which is not changing. The description would continue to state that CTI is a real-time clearing trade update message that is sent to a Participant after an execution has occurred and contains trade details specific to that Participant. The information includes, among other things, the following: (i) The Clearing Member Trade Agreement or ``CMTA'' or The Options Clearing Corporation or ``OCC'' number; (ii) Exchange badge or house number; (iii) the Exchange internal firm identifier; (iv) an indicator which will distinguish electronic and non-electronically delivered orders; (v) liquidity indicators and transaction type for billing purposes; and (vi) capacity. The Exchange proposes to not add the sentence which states, ``The message containing the trade details is also simultaneously sent to The Options Clearing Corporation.'' The Exchange's System sends clearing information to OCC for each transaction. This sentence does not add information that is useful or relevant and therefore the Exchange proposes to remove it. The Exchange notes that while the description is being amended, it retains more broadly the former descriptions. The information provided is specific to a market participant. The Exchange is expressing more specifically the type of data contained in CTI. The CTI offering is not changing. The Exchange is providing more details regarding the CTI offering than was originally filed in the CTI and FIX DROP Filing. The Exchange originally noted in the TradeInfo Filing that TradeInfo allows subscribing members to scan for their orders submitted to BX. Members can scan for all orders in a particular security or all orders of a particular type, regardless of their status (open, canceled, executed, etc.). Members are also able to cancel open orders at the order, port or MPID level (an MPID is a firm mnemonic). For example, after scanning for open orders, the member is then able to select an open order and cancel the order. TradeInfo BX also allows members to scan other order statuses, such as executed, cancelled, broken, rejected and suspended orders. TradeInfo BX enables members to generate reports of execution, order or cancel information, which can be exported into a spreadsheet for review. The Exchange proposes to amend and memorialize TradeInfo within Section 19(b)(2). The Exchange proposes to note that TradeInfo is a user interface, as compared to a data stream, to add more detail to the description. While some descriptive language is being removed from the rules, such as permitting a subscribing member to scan other order statuses, such as executed, cancelled, broken, rejected and suspended orders, the Exchange believes that this language is covered in the current description in that the text indicates that all orders may be searched regardless of their status. Similarly, the description which provides that a subscribing member may generate reports of execution, order or cancel information, which can be exported into a spreadsheet for review is covered in that the Exchange notes that a view of the orders and execution may be downloaded. The Exchange originally noted in its FIX DROP filing that the Order Entry DROP provides real time information regarding orders sent to BX and executions that occurred on BX. The DROP interface is not a trading interface and does not accept order messages. The ``Order Entry DROP'' interface is being renamed ``FIX DROP'' for clarity as it relates to FIX ports. The Exchange is now expanding on the original description by providing more detail by stating that it is a real-time order and execution update message that is sent to a Participant after an order has been received/modified or an execution has occurred and contains trade details specific to that Participant. The information includes, among other things, the following: (1) Executions; (2) cancellations; (3) modifications to an existing order (4) busts or post-trade corrections. The Exchange believes that the additional specificity will provide more information to Participants. The Exchange considers it appropriate to memorialize the order and execution information available on BX within a rule so that Participants may understand the trade information which is available on the Exchange as it pertains to a firm's trading information. This data is available to all Participants regarding that Participant's transactions. Pricing for these products is included in the Exchange's fee schedule at Chapter XV, Section 3.\7\ --------------------------------------------------------------------------- \7\ See also SR-BX-2018-017 (not yet published) which proposes conforming changes to the fee schedule. --------------------------------------------------------------------------- Section 19(a) The Exchange proposes minor changes to Section 19(a)(1) and (2) to change the language to indicate the BX Depth of Market and BX Top of Market each separately are data feeds and removing the ``A'' before the description. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (the ``Act''),\8\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\9\ in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest, by providing greater transparency as to the order and execution information offered on BX. The Exchange notes that it described this information in prior rule changes.\10\ The Exchange believes that memorializing this information within a rule and updating the information will provide market participants with a list of information available specific to their trading on BX. The Exchange believes that this proposal is consistent with the Act because it provides information on the content available to market participants regarding the trades they execute on BX. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). \10\ See notes 3 and 4 above. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\11\ the Exchange does not believe that the proposed rule change will impose any burden on intermarket or intra-market competition that is 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 Exchange is seeking to provide greater transparency within its rules with respect to the various order and execution information offered on BX. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- 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 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, if [[Page 22554]] consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6) thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice the Exchange's 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) \9\ normally does not become operative for 30 days after the date of filing. However, pursuant to Rule 19b-4(f)(6)(iii),\10\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange states that such waiver will allow it to update its rules immediately to provide more information regarding the order and execution information it offers and further the protection of investors and the public interest because it will provide greater transparency as to the trade detail available to members. For this reason, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest and, therefore, the Commission designates the proposed rule change to be operative upon filing.\14\ --------------------------------------------------------------------------- \9\ 17 CFR 240.19b-4(f)(6). \10\ 17 CFR 240.19b-4(f)(6)(iii). \14\ For purposes only of waiving the 30-day operative delay, the Commission has also 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 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 CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-BX-2018-016 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-2018-016. 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-2018-016 and should be submitted on or before June 5, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-10259 Filed 5-14-18; 8:45 am] BILLING CODE 8011-01-P
![22552 Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
options becoming available to all market IV. Conclusion the proposed rule change and discussed
participants. It is therefore ordered, pursuant to any comments it received on the
Furthermore, the Commission expects Section 19(b)(2) of the Act,31 that the proposed rule change. The text of these
the Cboe Options to report any undue proposed rule change (SR–CBOE–2018– statements may be examined at the
effects that may occur as a result of 008) be, and hereby is, approved. places specified in Item IV below. The
these fungibility rule changes, including Exchange has prepared summaries, set
For the Commission, by the Division of
taking prompt action should any forth in sections A, B, and C below, of
Trading and Markets, pursuant to delegated
unanticipated consequences occur. The authority.32 the most significant aspects of such
Commission also expects, prior to the Eduardo A. Aleman,
statements.
effective date of the new rule, the Assistant Secretary. A. Self-Regulatory Organization’s
Exchange to address whether additional [FR Doc. 2018–10272 Filed 5–14–18; 8:45 am] Statement of the Purpose of, and the
position limit aggregation rules should BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule
be adopted prior to the rule’s delayed Change
implementation date. We note that
currently the FLEX rules require that 1. Purpose
SECURITIES AND EXCHANGE
certain FLEX Options positions be COMMISSION The Exchange proposes to
aggregated with the position limits in memorialize its order and execution
[Release No. 34–83199; File No. SR–BX–
the standardized market.30 information into Chapter VI, Section 19,
2018–016]
The Commission believes that the entitled ‘‘Data Feeds.’’ The Exchange
remaining proposed changes will help Self-Regulatory Organizations; Nasdaq proposes to rename this rule ‘‘Data
protect investors and the public interest BX, Inc.; Notice of Filing and Feeds and Trade Information.’’ The
by providing clarity and transparency to Immediate Effectiveness of a Proposed Exchange proposes other grammatical
the rules. The proposed rule text Rule Change To Memorialize Its Order corrections in Section 19(a) as well.
regarding Exchange holidays will clarify and Execution Information Into Section 19(b)
the fungibility of FLEX Options with Chapter VI, Section 19, Entitled Data
expiration dates on Exchange holidays Feeds First, the Exchange proposes to adopt
and are consistent with the expiration of a new Section 19(b) and memorialize
May 9, 2018. the following order and execution
the same standardized options on
Pursuant to Section 19(b)(1) of the information which were previously filed
Exchange holidays. Amending the intra- Securities Exchange Act of 1934 (the
day add provision to state that it applies by the Exchange: (1) CTI; 3 (2)
‘‘Act’’),1 and Rule 19b–4 thereunder,2 TradeInfo 4; and (3) FIX DROP.5
solely to American-style expirations notice is hereby given that on April 27,
will codify in the rule text the The Exchange originally noted in the
2018, Nasdaq BX, Inc. (‘‘BX’’ or CTI and FIX DROP Filing that CTI offers
Exchange’s original intent with respect ‘‘Exchange’’) filed with the Securities
to this provision. Further, the other non- real-time clearing trade updates.6 The
and Exchange Commission message containing the trade details is
substantive, clarifying changes will (‘‘Commission’’) the proposed rule
make the rule easier to read and also simultaneously sent to The Options
change as described in Items I and II Clearing Corporation. The trade
understand. below, which Items have been prepared messages are routed to a member’s
Finally, as noted above the Exchange by the Exchange. The Commission is connection containing certain
cannot actually implement this rule publishing this notice to solicit information. The administrative and
change immediately because OCC comments on the proposed rule change market event messages include, but are
bylaws currently restrict fungibility of from interested persons. not limited to: System event messages to
quarterly and short term options. The communicate operational-related
I. Self-Regulatory Organization’s
Commission believes that the delayed events; options directory messages to
Statement of the Terms of Substance of
implementation date of July 31, 2018 relay basic option symbol and contract
the Proposed Rule Change
should provide OCC with time to information for options traded on the
consider fungibility in quarterly and The Exchange proposes to a proposal
to memorialize its order and execution Exchange; complex strategy messages to
short-term options and determine relay information for those strategies
whether to amend the OCC By-laws to information into Chapter VI, Section 19,
entitled ‘‘Data Feeds.’’ traded on the Exchange; trading action
accommodate the changes being messages to inform market participants
adopted by the Exchange. The Exchange The text of the proposed rule change
is available on the Exchange’s website at when a specific option or strategy is
has also committed to announce the halted or released for trading on the
implementation of the change at least 30 http://nasdaqbx.cchwallstreet.com/, at
the principal office of the Exchange, and Exchange; and an indicator which
days prior to the effective date pursuant distinguishes electronic and non-
to a Regulatory Circular, which should at the Commission’s Public Reference
Room. electronically delivered orders.
provide adequate advance notice to
market participants. To the extent OCC II. Self-Regulatory Organization’s 3 See Securities Exchange Act Release No. 73894
is not able to implement a bylaw change Statement of the Purpose of, and the (December 19, 2014), 79 FR 78119 (December 29,
at or prior to the July 31, 2018, we Statutory Basis for, the Proposed Rule 1014) (SR–BX–2014–060) (‘‘CTI and FIX DROP
would expect the Exchange to amend its Change Filing’’).
4 See Securities Exchange Act Release No. 60826
rules or extend the implementation
In its filing with the Commission, the
daltland on DSKBBV9HB2PROD with NOTICES
(October 14, 2009), 74 FR 54605 (October 22, 2009)
date. (SR–BX–2009–062) (‘‘TradeInfo Filing’’).
Exchange included statements
For the reasons above, the concerning the purpose of and basis for 5 See note 3 above.
Commission finds that the proposed 6 A real-time clearing trade update is a message
rule change is consistent with the Act. 31 15
that is sent to a member after an execution has
U.S.C. 78s(b)(2). occurred and contains trade details. See Securities
32 17 CFR 200.30–3(a)(12). Exchange Act Release No. 73894 (December 19,
30 See Cboe Options Rule 24A.7, concerning 1 15 U.S.C. 78s(b)(1).
2014), 79 FR 78119 (December 29, 1014) (SR–BX–
FLEX position limits and reporting requirements. 2 17 CFR 240.19b–4. 2014–060).
VerDate Sep<11>2014 20:27 May 14, 2018 Jkt 244001 PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 E:\FR\FM\15MYN1.SGM 15MYN1](https://thefederalregister.org/doc/83_FR_22646/page/1.svg)
![22554 Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
consistent with the protection of Comments may be submitted by any of SECURITIES AND EXCHANGE
investors and the public interest, the the following methods: COMMISSION
proposed rule change has become
effective pursuant to Section 19(b)(3)(A) Electronic Comments
[SEC File No. 270–221, OMB Control No.
of the Act 12 and Rule 19b–4(f)(6) • Use the Commission’s internet 3235–0232]
thereunder.13 comment form (http://www.sec.gov/
A proposed rule change filed under rules/sro.shtml); or Proposed Collection; Comment
Rule 19b–4(f)(6) 9 normally does not Request
become operative for 30 days after the • Send an email to rule-comments@
date of filing. However, pursuant to sec.gov. Please include File Number SR– Upon Written Request, Copies Available
Rule 19b–4(f)(6)(iii),10 the Commission BX–2018–016 on the subject line. From: Securities and Exchange
may designate a shorter time if such Commission, Office of FOIA Services,
Paper Comments
action is consistent with the protection 100 F Street NE, Washington, DC
of investors and the public interest. The • Send paper comments in triplicate 20549–2736
Exchange has asked the Commission to to Secretary, Securities and Exchange Extension:
waive the 30-day operative delay so that Commission, 100 F Street NE, Form 1–E, Regulation E
the proposal may become operative Washington, DC 20549–1090.
immediately upon filing. The Exchange Notice is hereby given that, pursuant
states that such waiver will allow it to All submissions should refer to File to the Paperwork Reduction Act of 1995
update its rules immediately to provide Number SR–BX–2018–016. This file (44 U.S.C. 3501 et seq.), the Securities
more information regarding the order number should be included on the and Exchange Commission (the
and execution information it offers and subject line if email is used. To help the ‘‘Commission’’) is soliciting comments
further the protection of investors and Commission process and review your on the collection of information
the public interest because it will comments more efficiently, please use summarized below. The Commission
provide greater transparency as to the only one method. The Commission will plans to submit this existing collection
trade detail available to members. For post all comments on the Commission’s of information of the Office of
this reason, the Commission believes internet website (http://www.sec.gov/ Management and Budget for extension
that waiving the 30-day operative delay rules/sro.shtml). Copies of the and approval.
is consistent with the protection of submission, all subsequent Form 1–E (17 CFR 239.200) under the
investors and the public interest and, amendments, all written statements Securities Act of 1933 (15 U.S.C. 77a et
therefore, the Commission designates with respect to the proposed rule seq.) (‘‘Securities Act’’) is the form that
the proposed rule change to be operative change that are filed with the a small business investment company
upon filing.14 Commission, and all written (‘‘SBIC’’) or business development
At any time within 60 days of the communications relating to the company (‘‘BDC’’) uses to notify the
filing of the proposed rule change, the proposed rule change between the Commission that it is claiming an
Commission summarily may Commission and any person, other than exemption under Regulation E from
temporarily suspend such rule change if those that may be withheld from the registering its securities under the
it appears to the Commission that such public in accordance with the Securities Act. Rule 605 of Regulation E
action is necessary or appropriate in the provisions of 5 U.S.C. 552, will be (17 CFR 230.605) under the Securities
public interest, for the protection of available for website viewing and Act requires an SBIC or BDC claiming
investors, or otherwise in furtherance of printing in the Commission’s Public such an exemption to file an offering
the purposes of the Act. If the Reference Room, 100 F Street NE, circular with the Commission that must
Commission takes such action, the Washington, DC 20549, on official also be provided to persons to whom an
Commission shall institute proceedings business days between the hours of offer is made. Form 1–E requires an
to determine whether the proposed rule 10:00 a.m. and 3:00 p.m. Copies of the issuer to provide the names and
should be approved or disapproved. filing also will be available for addresses of the issuer, its affiliates,
inspection and copying at the principal directors, officers, and counsel; a
IV. Solicitation of Comments description of events which would
office of the Exchange. All comments
Interested persons are invited to received will be posted without change. make the exemption unavailable; the
submit written data, views, and Persons submitting comments are jurisdictions in which the issuer intends
arguments concerning the foregoing, cautioned that we do not redact or edit to offer the securities; information about
including whether the proposed rule personal identifying information from unregistered securities issued or sold by
change is consistent with the Act. comment submissions. You should the issuer within one year before filing
submit only information that you wish the notification on Form 1–E;
12 15 U.S.C. 78s(b)(3)(A). to make available publicly. All information as to whether the issuer is
13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– submissions should refer to File presently offering or contemplating
4(f)(6)(iii) requires the Exchange to give the
Number SR–BX–2018–016 and should offering any other securities; and
Commission written notice the Exchange’s intent to exhibits, including copies of the rule
file the proposed rule change, along with a brief be submitted on or before June 5, 2018.
description and text of the proposed rule change at 605 offering circular and any
least five business days prior to the date of filing
For the Commission, by the Division of underwriting contracts.
of the proposed rule change, or such shorter time Trading and Markets, pursuant to delegated
The Commission uses the information
as designated by the Commission. The Exchange authority.15
daltland on DSKBBV9HB2PROD with NOTICES
has satisfied this requirement. provided in the notification on Form 1–
9 17 CFR 240.19b–4(f)(6).
Eduardo A. Aleman, E and the offering circular to determine
10 17 CFR 240.19b–4(f)(6)(iii). Assistant Secretary. whether an offering qualifies for the
14 For purposes only of waiving the 30-day [FR Doc. 2018–10259 Filed 5–14–18; 8:45 am] exemption under Regulation E. The
operative delay, the Commission has also BILLING CODE 8011–01–P Commission estimates that, each year,
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
one issuer files one notification on Form
15 U.S.C. 78c(f). 15 17 CFR 200.30–3(a)(12). 1–E, together with offering circulars,
VerDate Sep<11>2014 20:27 May 14, 2018 Jkt 244001 PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 E:\FR\FM\15MYN1.SGM 15MYN1](https://thefederalregister.org/doc/83_FR_22646/page/3.svg)
Document Created: 2018-05-15 00:34:11
Document Modified: 2018-05-15 00:34:11
| 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 22552 |
2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR