83 FR 22570 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Memorialize Order and Execution Available to Participants 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 | 22570-22572 | |
| FR Document | 2018-10258 |
[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)] [Notices] [Pages 22570-22572] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-10258] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83198; File No. SR-NASDAQ-2018-035] Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Memorialize Order and Execution Available to Participants 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, The Nasdaq Stock Market LLC (``Nasdaq'' 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 amend the Nasdaq Options Market LLC (``NOM'') Rules 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://nasdaq.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 was previously filed by the Exchange: (1) CTI; (2) TradeInfo; (3) FIX DROP; and (4) OTTO DROP.\3\ --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 65180 (August 22, 2011), 76 FR 53521 (August 26, 2011) (SR-NASDAQ-2011-111) (``Information Filing''). --------------------------------------------------------------------------- The Exchange originally noted in the Information Filing that CTI offers real-time clearing trade updates. The message containing the trade details is also simultaneously sent to the 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. 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 [[Page 22571]] 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 Information Filing. The Exchange originally noted in the Information Filing that TradeInfo allows users to scan for their NASDAQ-listed orders submitted in NASDAQ. Users can then perform actions on their orders. Users can scan for all orders in a particular security or all orders of a particular type, regardless of their status (open, canceled, executed, etc.). For example, after scanning for open orders the user is then able to select an open order and is allowed to make corrections to the order or cancel the order. TradeInfo also allows the users to scan other orders, such as executed, cancelled, broken, rejected and suspended orders. 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. The Exchange is also adding more information to the TradeInfo description to provide Participants greater transparency. The Exchange originally noted in the Information Filing that the Order Entry DROP provides real time information regarding orders sent to NOM and executions that occurred on NOM. 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 proposes to amend and memorialize FIX DROP within Section 19(b)(3). The Exchange is 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; and (4) busts or post-trade corrections. The Exchange originally noted in the Information Filing that OTTO DROP provides real-time information regarding orders entered through OTTO and the execution of those orders. The OTTO DROP data feed is not a trading interface and does not accept order messages. The Exchange is not amending this description rather the Exchange is memorializing the description within Section 19(b)(4). The Exchange considers it appropriate to memorialize the order and execution information available on NOM 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.\4\ --------------------------------------------------------------------------- \4\ See also SR-NASDAQ-2018-036 (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 Nasdaq ITCH to Trade Options and Best of Nasdaq Options 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''),\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 Nasdaq. The Exchange notes that it described this information in prior rule changes.\7\ 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 NOM. 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 NOM. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). \7\ See note 3 above. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\8\ 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 NOM. --------------------------------------------------------------------------- \8\ 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 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 \9\ and Rule 19b- 4(f)(6) thereunder.\10\ --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 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. --------------------------------------------------------------------------- [[Page 22572]] 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.\11\ --------------------------------------------------------------------------- \9\ 17 CFR 240.19b-4(f)(6). \10\ 17 CFR 240.19b-4(f)(6)(iii). \11\ 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 [email protected]. Please include File Number SR-NASDAQ-2018-035 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-NASDAQ-2018-035. 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-NASDAQ-2018-035 and should be submitted on or before June 5, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-10258 Filed 5-14-18; 8:45 am] BILLING CODE 8011-01-P
![22570 Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
Rule 24b–1; SEC File No. 270–205; OMB Dated: May 8, 2018. the most significant aspects of such
Control No. 3235–0194 Eduardo A. Aleman, statements.
Assistant Secretary. A. Self-Regulatory Organization’s
Notice is hereby given that pursuant
[FR Doc. 2018–10232 Filed 5–14–18; 8:45 am] Statement of the Purpose of, and the
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule
and Exchange Commission Change
(‘‘Commission’’) is soliciting comments 1. Purpose
SECURITIES AND EXCHANGE
on the collection of information
COMMISSION The Exchange proposes to
summarized below. The Commission
plans to submit this existing collection memorialize its order and execution
[Release No. 34–83198; File No. SR– information into Chapter VI, Section 19,
of information to the Office of NASDAQ–2018–035]
Management and Budget for extension entitled ‘‘Data Feeds.’’ The Exchange
and approval, Rule 24b–1 (17 CFR proposes to rename this rule ‘‘Data
Self-Regulatory Organizations; The
240.24b–1)—Documents to be Kept Feeds and Trade Information.’’ The
Nasdaq Stock Market LLC; Notice of
Public by Exchanges. Exchange proposes other grammatical
Filing and Immediate Effectiveness of
corrections in Section 19(a) as well.
Rule 24b–1 under the Securities a Proposed Rule Change to
Exchange Act of 1934 (15 U.S.C. 78a et Memorialize Order and Execution Section 19(b)
seq.) requires a national securities Available to Participants Into Chapter First, the Exchange proposes to adopt
exchange to keep and make available for VI, Section 19, Entitled Data Feeds a new Section 19(b) and memorialize
public inspection a copy of its May 9, 2018. the following order and execution
registration statement and exhibits filed information which was previously filed
Pursuant to Section 19(b)(1) of the
with the Commission, along with any by the Exchange: (1) CTI; (2) TradeInfo;
Securities Exchange Act of 1934 (the
amendments thereto. (3) FIX DROP; and (4) OTTO DROP.3
‘‘Act’’),1 and Rule 19b–4 thereunder,2 The Exchange originally noted in the
There are 21 national securities notice is hereby given that on April 27,
exchanges that spend approximately Information Filing that CTI offers real-
2018, The Nasdaq Stock Market LLC time clearing trade updates. The
one half hour each complying with this (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
rule, for an aggregate total compliance message containing the trade details is
Securities and Exchange Commission also simultaneously sent to the The
burden of 10.5 hours per year. The staff (‘‘Commission’’) the proposed rule
estimates that the average cost per Options Clearing Corporation. The trade
change as described in Items I and II messages are routed to a member’s
respondent is $65.18 per year, below, which Items have been prepared connection containing certain
calculated as the costs of copying by the Exchange. The Commission is information. The administrative and
($13.97) plus storage ($51.21), resulting publishing this notice to solicit market event messages include, but are
in a total cost of compliance for the comments on the proposed rule change not limited to: System event messages to
respondents of $1,368.78. from interested persons. communicate operational-related
Written comments are invited on: (a) I. Self-Regulatory Organization’s events; options directory messages to
Whether the proposed collection of Statement of the Terms of Substance of relay basic option symbol and contract
information is necessary for the proper the Proposed Rule Change information for options traded on the
performance of the functions of the Exchange; complex strategy messages to
agency, including whether the The Exchange proposes to amend the relay information for those strategies
information shall have practical utility; Nasdaq Options Market LLC (‘‘NOM’’) traded on the Exchange; trading action
(b) the accuracy of the Commission’s Rules to memorialize its order and messages to inform market participants
estimate of the burden of the proposed execution information into Chapter VI, when a specific option or strategy is
collection of information; (c) ways to Section 19, entitled ‘‘Data Feeds.’’ halted or released for trading on the
enhance the quality, utility, and clarity The text of the proposed rule change Exchange; and an indicator which
of the information to be collected; and is available on the Exchange’s website at distinguishes electronic and non-
(d) ways to minimize the burden of the http://nasdaq.cchwallstreet.com, at the electronically delivered orders.
collection of information on principal office of the Exchange, and at The Exchange is proposing to more
respondents, including through the use the Commission’s Public Reference specifically describe the CTI offering
of automated collection techniques or Room. and memorialize it within Section
other forms of information technology. II. Self-Regulatory Organization’s 19(b)(1). The description provides more
Consideration will be given to Statement of the Purpose of, and the detail as to the current functionality of
comments and suggestions submitted in Statutory Basis for, the Proposed Rule CTI, which is not changing. The
writing within 60 days of this Change description would continue to state that
publication. CTI is a real-time clearing trade update
In its filing with the Commission, the message that is sent to a Participant after
An agency may not conduct or Exchange included statements
sponsor, and a person is not required to an execution has occurred and contains
concerning the purpose of and basis for trade details specific to that Participant.
respond to, a collection of information the proposed rule change and discussed
under the PRA unless it displays a The information includes, among other
any comments it received on the things, the following: (i) The Clearing
currently valid OMB control number. proposed rule change. The text of these Member Trade Agreement or ‘‘CMTA’’
daltland on DSKBBV9HB2PROD with NOTICES
Please direct your written comments statements may be examined at the or The Options Clearing Corporation or
to: Pamela Dyson, Director/Chief places specified in Item IV below. The ‘‘OCC’’ number; (ii) Exchange badge or
Information Officer, Securities and Exchange has prepared summaries, set house number; (iii) the Exchange
Exchange Commission, c/o Remi Pavlik- forth in sections A, B, and C below, of
Simon, 100 F Street NE, Washington, 3 See Securities Exchange Act Release No. 65180
DC 20549, or send an email to: PRA_ 1 15 U.S.C. 78s(b)(1). (August 22, 2011), 76 FR 53521 (August 26, 2011)
Mailbox@sec.gov. 2 17 CFR 240.19b–4. (SR–NASDAQ–2011–111) (‘‘Information Filing’’).
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![22572 Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
A proposed rule change filed under Commission, 100 F Street NE, SECURITIES AND EXCHANGE
Rule 19b–4(f)(6) 9 normally does not Washington, DC 20549–1090. COMMISSION
become operative for 30 days after the
date of filing. However, pursuant to All submissions should refer to File [Release No. 34–83196; File No. SR–Phlx–
Number SR–NASDAQ–2018–035. This 2018–33]
Rule 19b–4(f)(6)(iii),10 the Commission
may designate a shorter time if such file number should be included on the
Self-Regulatory Organizations; Nasdaq
action is consistent with the protection subject line if email is used. To help the
PHLX LLC; Notice of Filing and
of investors and the public interest. The Commission process and review your
Immediate Effectiveness of Proposed
Exchange has asked the Commission to comments more efficiently, please use Rule Change To Memorialize Its Order
waive the 30-day operative delay so that only one method. The Commission will and Execution Information Into Phlx
the proposal may become operative post all comments on the Commission’s Rule 1070
immediately upon filing. The Exchange internet website (http://www.sec.gov/
states that such waiver will allow it to rules/sro.shtml). Copies of the May 9, 2018.
update its rules immediately to provide submission, all subsequent Pursuant to Section 19(b)(1) of the
more information regarding the order amendments, all written statements Securities Exchange Act of 1934 (the
and execution information it offers and with respect to the proposed rule ‘‘Act’’),1 and Rule 19b–4 thereunder,2
further the protection of investors and change that are filed with the notice is hereby given that on April 27,
the public interest because it will Commission, and all written 2018, Nasdaq PHLX LLC (‘‘Phlx’’ or
provide greater transparency as to the ‘‘Exchange’’) filed with the Securities
communications relating to the
trade detail available to members. For and Exchange Commission
proposed rule change between the
this reason, the Commission believes (‘‘Commission’’) the proposed rule
Commission and any person, other than change as described in Items I and II
that waiving the 30-day operative delay those that may be withheld from the
is consistent with the protection of below, which Items have been prepared
public in accordance with the by the Exchange. The Commission is
investors and the public interest and, provisions of 5 U.S.C. 552, will be
therefore, the Commission designates publishing this notice to solicit
available for website viewing and comments on the proposed rule change
the proposed rule change to be operative printing in the Commission’s Public
upon filing.11 from interested persons.
Reference Room, 100 F Street NE,
At any time within 60 days of the Washington, DC 20549, on official I. Self-Regulatory Organization’s
filing of the proposed rule change, the Statement of the Terms of Substance of
business days between the hours of
Commission summarily may the Proposed Rule Change
10:00 a.m. and 3:00 p.m. Copies of the
temporarily suspend such rule change if The Exchange proposes to
it appears to the Commission that such filing also will be available for
inspection and copying at the principal memorialize its order and execution
action is necessary or appropriate in the information into Phlx Rule 1070.
public interest, for the protection of office of the Exchange. All comments
The text of the proposed rule change
investors, or otherwise in furtherance of received will be posted without change.
is available on the Exchange’s website at
the purposes of the Act. If the Persons submitting comments are
http://nasdaqphlx.cchwallstreet.com/,
Commission takes such action, the cautioned that we do not redact or edit at the principal office of the Exchange,
Commission shall institute proceedings personal identifying information from and at the Commission’s Public
to determine whether the proposed rule comment submissions. You should Reference Room.
should be approved or disapproved. submit only information that you wish
to make available publicly. All II. Self-Regulatory Organization’s
IV. Solicitation of Comments submissions should refer to File Statement of the Purpose of, and the
Interested persons are invited to Number SR–NASDAQ–2018–035 and Statutory Basis for, the Proposed Rule
submit written data, views, and should be submitted on or before June Change
arguments concerning the foregoing, 5, 2018. In its filing with the Commission, the
including whether the proposed rule Exchange included statements
For the Commission, by the Division of
change is consistent with the Act. concerning the purpose of and basis for
Trading and Markets, pursuant to delegated
Comments may be submitted by any of authority.12
the proposed rule change and discussed
the following methods: any comments it received on the
Eduardo A. Aleman, proposed rule change. The text of these
Electronic Comments Assistant Secretary. statements may be examined at the
• Use the Commission’s internet [FR Doc. 2018–10258 Filed 5–14–18; 8:45 am] places specified in Item IV below. The
comment form (http://www.sec.gov/ BILLING CODE 8011–01–P Exchange has prepared summaries, set
rules/sro.shtml); or forth in sections A, B, and C below, of
• Send an email to rule-comments@ the most significant aspects of such
sec.gov. Please include File Number SR– statements.
NASDAQ–2018–035 on the subject line. A. Self-Regulatory Organization’s
Paper Comments Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
• Send paper comments in triplicate Change
to Secretary, Securities and Exchange
daltland on DSKBBV9HB2PROD with NOTICES
1. Purpose
9 17 CFR 240.19b–4(f)(6). The Exchange proposes to
10 17 CFR 240.19b–4(f)(6)(iii).
memorialize its order and execution
11 For purposes only of waiving the 30-day
operative delay, the Commission has also
information into Rule 1070, entitled
considered the proposed rule’s impact on
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 12 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.
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Document Created: 2018-05-15 00:33:18
Document Modified: 2018-05-15 00:33:18
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 83 FR 22570 |
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