83_FR_22649 83 FR 22555 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Reorganize and Amend the Exchange's Pricing Schedule at Section VII, B, Entitled “Port Fees”

83 FR 22555 - Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Reorganize and Amend the Exchange's Pricing Schedule at Section VII, B, Entitled “Port Fees”

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 94 (May 15, 2018)

Page Range22555-22557
FR Document2018-10254

Federal Register, Volume 83 Issue 94 (Tuesday, May 15, 2018)
[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22555-22557]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-10254]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83194; File No. SR-Phlx-2018-34]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing 
and Immediate Effectiveness of a Proposed Rule Change To Reorganize and 
Amend the Exchange's Pricing Schedule at Section VII, B, Entitled 
``Port Fees''

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 PHLX LLC (``Phlx'' 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.
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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 reorganize and amend the Exchange's 
Pricing Schedule at Section VII, B, entitled ``Port Fees.''
    The text of the proposed rule change is available on the Exchange's 
website at http://nasdaqphlx.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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to reorganize and amend the Exchange's 
Pricing Schedule at Section VII, B, entitled ``Port Fees.'' The 
Exchange offers various services across its 6 affiliated options 
markets, Phlx, Nasdaq BX, Inc., The Nasdaq Options Market LLC, Nasdaq 
ISE, LLC, Nasdaq GEMX, LLC and Nasdaq MRX, LLC (``Nasdaq Affiliated 
Markets'').\3\ The Exchange desires to rename services to conform the 
naming of the offerings across all Nasdaq Affiliated Markets. The 
Exchange proposes to reorganize Section VII, B to list order and quote 
protocols first, order and execution offerings next, followed by data 
ports and other ports as the last section. The Exchange proposes to 
list data offerings which are offered at no cost. The Exchange believes 
that aligning its offerings, where relevant, across the Nasdaq 
Affiliated Markets will provide more transparency as to the offerings 
for market participants.
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    \3\ The Exchange will file a similar rule change on each Nasdaq 
Affiliated Market to conform the offerings by amending naming to 
make them similar and delineating each offering on the fee schedule 
where no fee is assessed.
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Ports
    The Exchange proposes to define a port within Section VII, B to 
provide additional clarity to the Pricing Schedule as ``a logical 
connection or session that enables a market participant to send inbound 
messages and/or receive outbound messages from the Exchange using 
various communication protocols.'' The Exchange believes this 
definition will assist members in distinguishing ports from other 
offerings.
Order and Quote Protocols
    The Exchange proposes to add a new section (i) and include the 
following introductory sentence, ``The following order and quote 
protocols are available on Phlx.''
    Today, Phlx offers members an Order Entry order protocol, an Active 
SQF quote protocol as well as an SQF Purge Port. These fees currently 
exist on the Pricing Schedule. The Exchange is not amending any pricing 
related to these protocols. The Exchange proposes to rename ``Order 
Entry Port Fee'' as ``FIX Port Fee.'' This description is more accurate 
as ``FIX'' is the name of the order entry protocol. Nasdaq ISE, LLC 
calls this protocol ``FIX'' in its fee schedule.\4\ The Exchange 
proposes to remove the word ``Active'' before SQF Port from the title 
of the offering. The term ``active'' refers to the manner in which the 
port is billed. For consistency the Exchange proposes to refer the SQF 
Port without the ``Active'' to conform the naming of the offering to 
that of the Nasdaq Affiliated Markets. The Exchange will continue to 
use the word ``active,'' which is proposed to be lowercase, to describe 
the manner in which the port will be billed. The Exchange proposes to 
define the term ``active'' to mean that the port was utilized to submit 
a quote to the System during a given month. The Exchange believes that 
this definition will provide greater transparency as to the manner in 
which the term ``active'' is applied today by the Exchange.
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    \4\ See ISE's Fee Schedule at Chapter V, Part D.

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[[Page 22556]]

    The Exchange believes that grouping the available order and quote 
protocols together into their own subsection will provide greater 
transparency within its Pricing Schedule as to the available protocols.
Order and Execution Information
    The Exchange proposes to add a new section (ii) and add the 
following introductory sentence, ``The following order and execution 
information is available to members.'' The Exchange proposes to group 
the available order and execution information that is particular to a 
member's transactions on Phlx into its own subsection. Today, Phlx 
offers CTI and TradeInfo PHLX. The Exchange proposes to relocate the 
TradeInfo offering from Section XII of the Pricing Schedule to Section 
VII, B. The Exchange proposes to rename ``TradeInfo PHLX'' as 
``TradeInfo Interface'' to conform the naming on the Nasdaq Affiliated 
Markets. This also makes clear that this particular offering is an 
interface. No changes are proposed to amend pricing for CTI or the 
TradeInfo offering. Finally, the Exchange proposes to delete the 
definition of the TradeInfo offering. The Exchange is instead defining 
this offering within Rule 1070(b).
Data Ports
    The Exchange proposes to add a new section (iii) and include the 
following information, ``The following data port fees apply in 
connection with data subscriptions pursuant to Phlx's Pricing Schedule 
at Section IX. These ports are available to non-Phlx members and Phlx 
members.'' The Exchange believes the addition of this sentence makes 
clear where the related applicable data fees can be located within the 
Pricing Schedule. Today, no data port fees are listed on Phlx's Pricing 
Schedule as these services are offered at no cost. The Exchange 
proposes to list the relevant data ports which are offered today in 
order to provide information as to the available offerings. Today, the 
Exchange offers TOPO Ports, PHLX Orders Ports and PHLX Depth of Market 
Ports at no cost. The Exchange believes listing these offerings on the 
Pricing Schedule at $0 will add more transparency to the Pricing 
Schedule. No changes are being made to the fees.
Other Ports
    The Exchange proposes to adopt a new section (iv) entitled ``Other 
Ports'' to include Disaster Recovery Ports. Today, the Exchange offers 
Disaster Recovery Ports for all the ports reorganized into proposed 
subsections (i), (ii) and (iii). The Exchange is noting that these 
ports are available at no cost to make clear their availability.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Securities Exchange Act of 1934,\5\ in 
general, and furthers the objectives of Section 6(b)(5) of the Act,\6\ 
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 Phlx. The Exchange's proposal to reorganize Section VII, B and 
rename certain offerings to conform to other Nasdaq Affiliated Markets 
will provide clarity as to the offerings and uniformity in naming 
similar offerings. The Exchange believes that its new structure makes 
clear the differences in its offerings and the availability of various 
options within each type of offering. The Exchange's proposal is 
consistent with the protection of investors and the public interest in 
that the proposal provides greater transparency as to the offerings, 
the application of fees and the availability of offerings which are 
offered at no cost. The Exchange's proposal to define a port should 
also provide members with greater insight into the terminology utilized 
within Section VII, B.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\7\ 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 
Phlx. The offerings are available to all members. The Exchange does not 
intend to amend pricing, rather it proposes to make clear the 
application of the current pricing.
---------------------------------------------------------------------------

    \7\ 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 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 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 \8\ and Rule 19b-4(f)(6) 
thereunder.\9\
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Exchange to give the Commission written notice of 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.
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    A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally 
does not become operative for 30 days after the date of filing. 
However, pursuant to Rule 19b-4(f)(6)(iii),\11\ 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 detailed and reorganized information regarding its offerings and 
further the protection of investors and the public interest because it 
will provide greater transparency as to the offerings 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.\12\
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    \10\ 17 CFR 240.19b-4(f)(6).
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
    \12\ 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).
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    At any time within 60 days of the filing of the proposed rule 
change, the

[[Page 22557]]

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 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-Phlx-2018-34 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-Phlx-2018-34. 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-Phlx-2018-34, and should be submitted on 
or before June 5, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10254 Filed 5-14-18; 8:45 am]
BILLING CODE 8011-01-P



                                                                              Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices                                                        22555

                                               with the Commission.1 Based on the                      ‘‘Act’’),1 and Rule 19b–4 thereunder,2                Exchange proposes to reorganize
                                               Commission’s experience with                            notice is hereby given that on April 27,              Section VII, B to list order and quote
                                               disclosure documents, we estimate that                  2018, Nasdaq PHLX LLC (‘‘Phlx’’ or                    protocols first, order and execution
                                               the burden from compliance with Form                    ‘‘Exchange’’) filed with the Securities               offerings next, followed by data ports
                                               1–E and the offering circular requires                  and Exchange Commission                               and other ports as the last section. The
                                               approximately 100 hours per filing. The                 (‘‘Commission’’) the proposed rule                    Exchange proposes to list data offerings
                                               annual burden hours for compliance                      change as described in Items I and II                 which are offered at no cost. The
                                               with Form 1–E and the offering circular                 below, which Items have been prepared                 Exchange believes that aligning its
                                               would be 200 hours (2 responses × 100                   by the Exchange. The Commission is                    offerings, where relevant, across the
                                               hours per response). Estimates of the                   publishing this notice to solicit                     Nasdaq Affiliated Markets will provide
                                               burden hours are made solely for the                    comments on the proposed rule change                  more transparency as to the offerings for
                                               purposes of the PRA, and are not                        from interested persons.                              market participants.
                                               derived from a comprehensive or even                    I. Self-Regulatory Organization’s                     Ports
                                               a representative survey or study of the                 Statement of the Terms of Substance of
                                               costs of SEC rules and forms.                           the Proposed Rule Change                                The Exchange proposes to define a
                                                  Written comments are invited on: (a)                                                                       port within Section VII, B to provide
                                               Whether the proposed collection of                         The Exchange proposes to reorganize                additional clarity to the Pricing
                                               information is necessary for the proper                 and amend the Exchange’s Pricing                      Schedule as ‘‘a logical connection or
                                               performance of the functions of the                     Schedule at Section VII, B, entitled                  session that enables a market participant
                                               agency, including whether the                           ‘‘Port Fees.’’                                        to send inbound messages and/or
                                               information will have practical utility;                   The text of the proposed rule change               receive outbound messages from the
                                               (b) the accuracy of the agency’s estimate               is available on the Exchange’s website at             Exchange using various communication
                                                                                                       http://nasdaqphlx.cchwallstreet.com/,
                                               of the burden of the collection of                                                                            protocols.’’ The Exchange believes this
                                                                                                       at the principal office of the Exchange,
                                               information; (c) ways to enhance the                                                                          definition will assist members in
                                                                                                       and at the Commission’s Public
                                               quality, utility, and clarity of the                                                                          distinguishing ports from other
                                                                                                       Reference Room.
                                               information collected; and (d) ways to                                                                        offerings.
                                               minimize the burden of the collection of                II. Self-Regulatory Organization’s
                                                                                                                                                             Order and Quote Protocols
                                               information on respondents, including                   Statement of the Purpose of, and
                                               through the use of automated collection                 Statutory Basis for, the Proposed Rule                   The Exchange proposes to add a new
                                               techniques or other forms of information                Change                                                section (i) and include the following
                                               technology. Consideration will be given                    In its filing with the Commission, the             introductory sentence, ‘‘The following
                                               to comments and suggestions submitted                   Exchange included statements                          order and quote protocols are available
                                               in writing within 60 days of this                       concerning the purpose of and basis for               on Phlx.’’
                                               publication.                                            the proposed rule change and discussed                   Today, Phlx offers members an Order
                                                  Please direct your written comments                  any comments it received on the                       Entry order protocol, an Active SQF
                                               to Pamela Dyson, Acting Director/Chief                  proposed rule change. The text of these               quote protocol as well as an SQF Purge
                                               Information Officer, Securities and                     statements may be examined at the                     Port. These fees currently exist on the
                                               Exchange Commission, C/O Remi                           places specified in Item IV below. The                Pricing Schedule. The Exchange is not
                                               Pavlik-Simon, 100 F Street NE,                          Exchange has prepared summaries, set                  amending any pricing related to these
                                               Washington, DC 20549; or send an email                  forth in sections A, B, and C below, of               protocols. The Exchange proposes to
                                               to: PRA_Mailbox@sec.gov.                                the most significant aspects of such                  rename ‘‘Order Entry Port Fee’’ as ‘‘FIX
                                                 Dated: May 9, 2018.                                   statements.                                           Port Fee.’’ This description is more
                                               Eduardo A. Aleman,                                                                                            accurate as ‘‘FIX’’ is the name of the
                                                                                                       A. Self-Regulatory Organization’s                     order entry protocol. Nasdaq ISE, LLC
                                               Assistant Secretary.                                    Statement of the Purpose of, and the
                                                                                                                                                             calls this protocol ‘‘FIX’’ in its fee
                                               [FR Doc. 2018–10241 Filed 5–14–18; 8:45 am]             Statutory Basis for, the Proposed Rule
                                                                                                                                                             schedule.4 The Exchange proposes to
                                               BILLING CODE 8011–01–P                                  Change
                                                                                                                                                             remove the word ‘‘Active’’ before SQF
                                                                                                       1. Purpose                                            Port from the title of the offering. The
                                               SECURITIES AND EXCHANGE                                    The Exchange proposes to reorganize                term ‘‘active’’ refers to the manner in
                                               COMMISSION                                              and amend the Exchange’s Pricing                      which the port is billed. For consistency
                                                                                                       Schedule at Section VII, B, entitled                  the Exchange proposes to refer the SQF
                                               [Release No. 34–83194; File No. SR–Phlx–                ‘‘Port Fees.’’ The Exchange offers                    Port without the ‘‘Active’’ to conform
                                               2018–34]                                                various services across its 6 affiliated              the naming of the offering to that of the
                                                                                                       options markets, Phlx, Nasdaq BX, Inc.,               Nasdaq Affiliated Markets. The
                                               Self-Regulatory Organizations; Nasdaq                                                                         Exchange will continue to use the word
                                                                                                       The Nasdaq Options Market LLC,
                                               PHLX LLC; Notice of Filing and                                                                                ‘‘active,’’ which is proposed to be
                                                                                                       Nasdaq ISE, LLC, Nasdaq GEMX, LLC
                                               Immediate Effectiveness of a Proposed                                                                         lowercase, to describe the manner in
                                                                                                       and Nasdaq MRX, LLC (‘‘Nasdaq
                                               Rule Change To Reorganize and                                                                                 which the port will be billed. The
                                                                                                       Affiliated Markets’’).3 The Exchange
                                               Amend the Exchange’s Pricing                                                                                  Exchange proposes to define the term
                                                                                                       desires to rename services to conform
                                               Schedule at Section VII, B, Entitled                                                                          ‘‘active’’ to mean that the port was
                                                                                                       the naming of the offerings across all
                                               ‘‘Port Fees’’                                                                                                 utilized to submit a quote to the System
                                                                                                       Nasdaq Affiliated Markets. The
daltland on DSKBBV9HB2PROD with NOTICES




                                               May 9, 2018.                                                                                                  during a given month. The Exchange
                                                 Pursuant to Section 19(b)(1) of the
                                                                                                         1 15 U.S.C. 78s(b)(1).                              believes that this definition will provide
                                               Securities Exchange Act of 1934 (the
                                                                                                         2 17 CFR 240.19b–4.                                 greater transparency as to the manner in
                                                                                                         3 The Exchange will file a similar rule change on
                                                                                                                                                             which the term ‘‘active’’ is applied
                                                                                                       each Nasdaq Affiliated Market to conform the          today by the Exchange.
                                                  1 According to Commission records, one issuer        offerings by amending naming to make them similar
                                               filed two notifications on Form 1–E, together with      and delineating each offering on the fee schedule
                                               offering circulars, during 2013 and 2014.               where no fee is assessed.                               4 See   ISE’s Fee Schedule at Chapter V, Part D.



                                          VerDate Sep<11>2014   20:27 May 14, 2018   Jkt 244001   PO 00000   Frm 00115   Fmt 4703   Sfmt 4703   E:\FR\FM\15MYN1.SGM     15MYN1


                                               22556                          Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices

                                                 The Exchange believes that grouping                   that these ports are available at no cost             C. Self-Regulatory Organization’s
                                               the available order and quote protocols                 to make clear their availability.                     Statement on Comments on the
                                               together into their own subsection will                                                                       Proposed Rule Change Received from
                                               provide greater transparency within its                 2. Statutory Basis                                    Members, Participants, or Others
                                               Pricing Schedule as to the available                       The Exchange believes that the                       No written comments were either
                                               protocols.                                              proposed rule change is consistent with               solicited or received.
                                               Order and Execution Information                         Section 6(b) of the Securities Exchange               III. Date of Effectiveness of the
                                                  The Exchange proposes to add a new                   Act of 1934,5 in general, and furthers the            Proposed Rule Change and Timing for
                                               section (ii) and add the following                      objectives of Section 6(b)(5) of the Act,6            Commission Action
                                               introductory sentence, ‘‘The following                  in particular, in that it is designed to
                                                                                                       promote just and equitable principles of                 Because the proposed rule change
                                               order and execution information is
                                                                                                       trade, to remove impediments to and                   does not (i) significantly affect the
                                               available to members.’’ The Exchange
                                                                                                                                                             protection of investors or the public
                                               proposes to group the available order                   perfect the mechanism for a free and
                                                                                                                                                             interest; (ii) impose any significant
                                               and execution information that is                       open market and a national market
                                                                                                                                                             burden on competition; and (iii) become
                                               particular to a member’s transactions on                system, and, in general, to protect                   operative for 30 days from the date on
                                               Phlx into its own subsection. Today,                    investors and the public interest, by                 which it was filed, or such shorter time
                                               Phlx offers CTI and TradeInfo PHLX.                     providing greater transparency as to the              as the Commission may designate if
                                               The Exchange proposes to relocate the                   order and execution information offered               consistent with the protection of
                                               TradeInfo offering from Section XII of                  on Phlx. The Exchange’s proposal to                   investors and the public interest, the
                                               the Pricing Schedule to Section VII, B.                 reorganize Section VII, B and rename
                                               The Exchange proposes to rename                                                                               proposed rule change has become
                                                                                                       certain offerings to conform to other                 effective pursuant to Section 19(b)(3)(A)
                                               ‘‘TradeInfo PHLX’’ as ‘‘TradeInfo                       Nasdaq Affiliated Markets will provide
                                               Interface’’ to conform the naming on the                                                                      of the Act 8 and Rule 19b–4(f)(6)
                                                                                                       clarity as to the offerings and uniformity            thereunder.9
                                               Nasdaq Affiliated Markets. This also
                                                                                                       in naming similar offerings. The                         A proposed rule change filed under
                                               makes clear that this particular offering
                                                                                                       Exchange believes that its new structure              Rule 19b–4(f)(6) 10 normally does not
                                               is an interface. No changes are proposed
                                                                                                       makes clear the differences in its                    become operative for 30 days after the
                                               to amend pricing for CTI or the
                                                                                                       offerings and the availability of various             date of filing. However, pursuant to
                                               TradeInfo offering. Finally, the
                                                                                                       options within each type of offering.                 Rule 19b–4(f)(6)(iii),11 the Commission
                                               Exchange proposes to delete the
                                                                                                       The Exchange’s proposal is consistent                 may designate a shorter time if such
                                               definition of the TradeInfo offering. The
                                                                                                       with the protection of investors and the              action is consistent with the protection
                                               Exchange is instead defining this
                                                                                                       public interest in that the proposal                  of investors and the public interest. The
                                               offering within Rule 1070(b).
                                                                                                       provides greater transparency as to the               Exchange has asked the Commission to
                                               Data Ports                                              offerings, the application of fees and the            waive the 30-day operative delay so that
                                                  The Exchange proposes to add a new                   availability of offerings which are                   the proposal may become operative
                                               section (iii) and include the following                 offered at no cost. The Exchange’s                    immediately upon filing. The Exchange
                                               information, ‘‘The following data port                                                                        states that such waiver will allow it to
                                                                                                       proposal to define a port should also
                                               fees apply in connection with data                                                                            update its rules immediately to provide
                                                                                                       provide members with greater insight
                                               subscriptions pursuant to Phlx’s Pricing                                                                      more detailed and reorganized
                                                                                                       into the terminology utilized within
                                               Schedule at Section IX. These ports are                                                                       information regarding its offerings and
                                                                                                       Section VII, B.                                       further the protection of investors and
                                               available to non-Phlx members and Phlx
                                               members.’’ The Exchange believes the                    B. Self-Regulatory Organization’s                     the public interest because it will
                                               addition of this sentence makes clear                   Statement on Burden on Competition                    provide greater transparency as to the
                                               where the related applicable data fees                                                                        offerings available to members. For this
                                               can be located within the Pricing                         In accordance with Section 6(b)(8) of               reason, the Commission believes that
                                               Schedule. Today, no data port fees are                  the Act,7 the Exchange does not believe               waiving the 30-day operative delay is
                                               listed on Phlx’s Pricing Schedule as                    that the proposed rule change will                    consistent with the protection of
                                               these services are offered at no cost. The              impose any burden on intermarket or                   investors and the public interest and,
                                               Exchange proposes to list the relevant                  intra-market competition that is not                  therefore, the Commission designates
                                               data ports which are offered today in                   necessary or appropriate in furtherance               the proposed rule change to be operative
                                               order to provide information as to the                  of the purposes of the Act. The                       upon filing.12
                                               available offerings. Today, the Exchange                Exchange’s proposal does not impose an                   At any time within 60 days of the
                                               offers TOPO Ports, PHLX Orders Ports                    undue burden on competition, rather                   filing of the proposed rule change, the
                                               and PHLX Depth of Market Ports at no                    the Exchange is seeking to provide                      8 15  U.S.C. 78s(b)(3)(A).
                                               cost. The Exchange believes listing these               greater transparency within its rules                   9 17  CFR 240.19b–4(f)(6). In addition, Rule 19b–
                                               offerings on the Pricing Schedule at $0                 with respect to the various order and                 4(f)(6)(iii) requires the Exchange to give the
                                               will add more transparency to the                       execution information offered on Phlx.                Commission written notice of the Exchange’s intent
                                               Pricing Schedule. No changes are being                  The offerings are available to all                    to file the proposed rule change, along with a brief
                                               made to the fees.                                                                                             description and text of the proposed rule change,
                                                                                                       members. The Exchange does not intend                 at least five business days prior to the date of filing
                                               Other Ports                                             to amend pricing, rather it proposes to               of the proposed rule change, or such shorter time
                                                                                                                                                             as designated by the Commission. The Exchange
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                                                                                                       make clear the application of the current
                                                  The Exchange proposes to adopt a                                                                           has satisfied this requirement.
                                                                                                       pricing.
                                               new section (iv) entitled ‘‘Other Ports’’                                                                        10 17 CFR 240.19b–4(f)(6).

                                               to include Disaster Recovery Ports.                                                                              11 17 CFR 240.19b–4(f)(6)(iii).
                                                                                                                                                                12 For purposes only of waiving the 30-day
                                               Today, the Exchange offers Disaster
                                                                                                                                                             operative delay, the Commission has also
                                               Recovery Ports for all the ports                         5 15 U.S.C. 78f(b).
                                                                                                                                                             considered the proposed rule’s impact on
                                               reorganized into proposed subsections                    6 15 U.S.C. 78f(b)(5).                               efficiency, competition, and capital formation. See
                                               (i), (ii) and (iii). The Exchange is noting              7 15 U.S.C. 78f(b)(8).                               15 U.S.C. 78c(f).



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                                                                              Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices                                                   22557

                                               Commission summarily may                                submit only information that you wish                    Dated: May 10, 2018.
                                               temporarily suspend such rule change if                 to make available publicly. All                        Brent J. Fields,
                                               it appears to the Commission that such                  submissions should refer to File                       Secretary.
                                               action is necessary or appropriate in the               Number SR–Phlx–2018–34, and should                     [FR Doc. 2018–10395 Filed 5–11–18; 11:15 am]
                                               public interest, for the protection of                  be submitted on or before June 5, 2018.                BILLING CODE 8011–01–P
                                               investors, or otherwise in furtherance of                 For the Commission, by the Division of
                                               the purposes of the Act. If the                         Trading and Markets, pursuant to delegated
                                               Commission takes such action, the                       authority.13                                           SECURITIES AND EXCHANGE
                                               Commission shall institute proceedings                  Eduardo A. Aleman,                                     COMMISSION
                                               to determine whether the proposed rule                  Assistant Secretary.
                                               should be approved or disapproved.                                                                             [SEC File No. 270–318, OMB Control No.
                                                                                                       [FR Doc. 2018–10254 Filed 5–14–18; 8:45 am]            3235–0361]
                                               IV. Solicitation of Comments                            BILLING CODE 8011–01–P
                                                 Interested persons are invited to                                                                            Proposed Collection; Comment
                                               submit written data, views, and                                                                                Request
                                               arguments concerning the foregoing,                     SECURITIES AND EXCHANGE
                                                                                                                                                              Upon Written Request, Copies Available
                                               including whether the proposed rule                     COMMISSION
                                                                                                                                                               From: Securities and Exchange
                                               change is consistent with the Act.                                                                              Commission, Office of FOIA Services,
                                                                                                       Sunshine Act Meetings
                                               Comments may be submitted by any of                                                                             100 F Street NE, Washington, DC
                                               the following methods:                                                                                          20549–2736
                                                                                                       TIME AND DATE:       1:00 p.m. on Thursday,
                                               Electronic Comments                                     May 17, 2018.                                          Extension:
                                                                                                                                                                Form ADV–E
                                                 • Use the Commission’s internet                       PLACE:Closed Commission Hearing
                                               comment form (http://www.sec.gov/                       Room 10800.                                               Notice is hereby given that, pursuant
                                               rules/sro.shtml); or                                                                                           to the Paperwork Reduction Act of 1995
                                                 • Send an email to rule–comments@                     STATUS: This meeting will be closed to                 (44 U.S.C. 3501 et seq.), the Securities
                                               sec.gov. Please include File Number SR–                 the public.                                            and Exchange Commission (the
                                               Phlx–2018–34 on the subject line.                       MATTERS TO BE CONSIDERED:                              ‘‘Commission’’) is soliciting comments
                                               Paper Comments                                          Commissioners, Counsel to the                          on the collection of information
                                                                                                       Commissioners, the Secretary to the                    summarized below. The Commission
                                                  • Send paper comments in triplicate                                                                         plans to submit this existing collection
                                               to Secretary, Securities and Exchange                   Commission, and recording secretaries
                                                                                                       will attend the closed meeting. Certain                of information to the Office of
                                               Commission, 100 F Street NE,                                                                                   Management and Budget for extension
                                               Washington, DC 20549–1090.                              staff members who have an interest in
                                                                                                       the matters also may be present.                       and approval.
                                               All submissions should refer to File                                                                              Form ADV–E (17 CFR 279.8) is the
                                               Number SR–Phlx–2018–34. This file                          The General Counsel of the                          cover sheet for certificates of accounting
                                               number should be included on the                        Commission, or his designee, has                       filed pursuant to rule 206(4)–2 under
                                               subject line if email is used. To help the              certified that, in his opinion, one or                 the Investment Advisers Act of 1940 (17
                                               Commission process and review your                      more of the exemptions set forth in 5                  CFR 275.206(4)–2). The rule further
                                               comments more efficiently, please use                   U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B)            requires that the public accountant file
                                               only one method. The Commission will                    and (10) and 17 CFR 200.402(a)(3),                     with the Commission a Form ADV–E
                                               post all comments on the Commission’s                   (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and         and accompanying statement within
                                               internet website (http://www.sec.gov/                   (a)(10), permit consideration of the                   four business days of the resignation,
                                               rules/sro.shtml). Copies of the                         scheduled matters at the closed meeting.               dismissal, removal or other termination
                                               submission, all subsequent                                 Commissioner Piwowar, as duty                       of its engagement.
                                               amendments, all written statements                      officer, voted to consider the items                      The Commission has estimated that
                                               with respect to the proposed rule                       listed for the closed meeting in closed                compliance with the requirement to
                                               change that are filed with the                          session.                                               complete Form ADV–E imposes a total
                                               Commission, and all written                                The subject matters of the closed                   burden of approximately 0.05 hours (3
                                               communications relating to the                          meeting will be:                                       minutes) per respondent. Based on
                                               proposed rule change between the                                                                               current information from advisers
                                               Commission and any person, other than                      Institution and settlement of
                                                                                                                                                              registered with the Commission, the
                                               those that may be withheld from the                     injunctive actions;
                                                                                                                                                              Commission staff estimates that 1,749
                                               public in accordance with the                              Institution and settlement of                       filings will be submitted with respect to
                                               provisions of 5 U.S.C. 552, will be                     administrative proceedings; and                        surprise examinations and 38 filings
                                               available for website viewing and                          Other matters relating to enforcement               will be submitted with respect to
                                               printing in the Commission’s Public                     proceedings.                                           termination of accountants. Based on
                                               Reference Room, 100 F Street NE,                           At times, changes in Commission                     these estimates, the total estimated
                                               Washington, DC 20549, on official                       priorities require alterations in the                  annual burden would be 89.35 hours
                                               business days between the hours of                      scheduling of meeting items.                           ((1,749 filings × .05 hours) + (38 filings
                                               10:00 a.m. and 3:00 p.m. Copies of the                                                                         × .05 hours)).
                                               filing also will be available for                       CONTACT PERSON FOR MORE INFORMATION:                      Written comments are invited on: (a)
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                                               inspection and copying at the principal                 For further information and to ascertain               Whether the proposed collection of
                                               office of the Exchange. All comments                    what, if any, matters have been added,                 information is necessary for the proper
                                               received will be posted without change.                 deleted or postponed; please contact                   performance of the functions of the
                                               Persons submitting comments are                         Brent J. Fields from the Office of the                 agency, including whether the
                                               cautioned that we do not redact or edit                 Secretary at (202) 551–5400.                           information will have practical utility;
                                               personal identifying information from                                                                          (b) the accuracy of the agency’s estimate
                                               comment submissions. You should                           13 17   CFR 200.30–3(a)(12).                         of the burden of the collection of


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Document Created: 2018-05-15 00:34:27
Document Modified: 2018-05-15 00:34:27
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 22555 

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