83 FR 26717 - Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Memorialize Order and Execution Information Into MRX Rule 718
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 111 (June 8, 2018)
Federal Register Volume 83, Issue 111 (June 8, 2018)
| Page Range | 26717-26719 | |
| FR Document | 2018-12318 |
[Federal Register Volume 83, Number 111 (Friday, June 8, 2018)] [Notices] [Pages 26717-26719] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-12318] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83366; File No. SR-MRX-2018-16] Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Memorialize Order and Execution Information Into MRX Rule 718 June 4, 2018. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on May 23, 2018, Nasdaq MRX, LLC (``MRX'' 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 memorialize its order and execution information into MRX Rule 718, entitled ``Data Feeds.'' The text of the proposed rule change is available on the Exchange's website at http://nasdaqmrx.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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to add order and execution information into MRX Rule 718, entitled ``Data Feeds.'' The Exchange proposes to rename this rule ``Data Feeds and Trade Information.'' The Exchange also proposes to amend Rule 100 to add definitions. MRX Rule 718(a) The Exchange proposes to amend the Nasdaq MRX Top Quote Feed. The Exchange stated in that description that this feed calculates and disseminates MRX's best bid and offer position, with aggregated size (including total size in aggregate, for Public Customer \3\ size in the aggregate and Priority Customer \4\ size in the aggregate), based on displayable order and quote interest in the System. The Exchange proposes to amend this rule text to instead provide, ``this feed calculates and disseminates MRX's best bid and offer position, with aggregated size (including total size in aggregate, for Professional Order \5\ size in the aggregate and Priority Customer Order size in the aggregate), based on displayable order and quote interest in the System.'' The Exchange intended to specify that Professional Orders and Priority Customer Orders are segregated and aggregated. The Public Customer definition is too broad because it includes a portion of Priority Customer, which was already specified within the description. The Exchange proposes to remove Public Customer and replace it with Professional Order to be more specific and amend Priority Customer to Priority Customer Order to reference the types of orders that are aggregated to conform the rule text. --------------------------------------------------------------------------- \3\ The term ``Public Customer'' means a person or entity that is not a broker or dealer in securities. See Rule 100(a)(44). \4\ The term ``Priority Customer'' means a person or entity that (i) is not a broker or dealer in securities, and (ii) does not place more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s). See 100(a)(41A). The term ``Priority Customer Order'' means an order for the account of a Priority Customer. See Rule 100(a)(43A). \5\ The term ``Professional Order'' means an order that is for the account of a person or entity that is not a Priority Customer. See Rule 100(a)(43C). --------------------------------------------------------------------------- MRX Rule 718(b) The Exchange proposes to adopt a new MRX Rule 718(b) and memorialize the following order and execution information which was discussed in other rule filings by the Exchange: (i) Clearing Trade Information or ``CTI''; and (ii) FIX DROP.\6\ The Exchange is also adding a description for TradeInfo. The TradeInfo user interface is being offered today on MRX at no cost. --------------------------------------------------------------------------- \6\ See Securities Exchange Act Release No. 81312 (August 3, 2017), 82 FR 37253 (August 3, 2017) (SR-MRX-2017-13) (``Prior Filing''). --------------------------------------------------------------------------- The Exchange notes that while CTI and FIX Drop information are accessible through a port, TradeInfo is an interface. The Exchange notes this distinction to make clear the manner of delivery for each of these information types. CTI The Exchange stated in its Prior Filing that ``CTI is a real-time clearing trade message that is sent to a Member after an execution has occurred and contains trade details. The message containing the trade details is also simultaneously sent to The Options Clearing Corporation. The information includes, among other things, the following: (i) The Clearing Member Trade Agreement or ``CMTA'' or The Options Clearing Corporation or ``OCC'' number; (ii) Exchange badge or house number; (iii) the Exchange internal firm identifier; and (iv) an indicator which will distinguish electronic and non-electronically delivered orders; (v) liquidity indicators and transaction type for billing purposes; (vi) capacity.'' \7\ --------------------------------------------------------------------------- \7\ See note 3 above. --------------------------------------------------------------------------- The Exchange is proposing to amend the CTI description and memorialize it within MRX Rule 718(b)(1). The Exchange proposes to eliminate 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 also proposes to delete the words ``an indicator which will distinguish electronic and non-electronically delivered orders.'' The only method on MRX to deliver an order is electronically. The Exchange proposes to adopt new definitions for ``account number,'' \8\ [[Page 26718]] ``badge,'' \9\ and ``mnemonic'' \10\ to be utilized within the CTI definition and uniformly throughout the Rulebook. The Exchange proposes to renumber Rule 100 to accommodate the new definitions. The Exchange is reserving 2 numbers for future use of other definitions. The Exchange proposes to replace the phrase in Rule 718(b)(1) subsection (ii) from previously filed Exchange badge or house number to proposed definitions for badge or mnemonic. The Exchange proposes to replace the phrase in Rule 718(b)(1) subsection (iii) from Exchange internal firm identifier to proposed definition for account number. The Exchange proposes to expand on Rule 718(b)(1) subsection (iv) by replacing the phrase ``an indicator which will distinguish electronic and non- electronically delivered orders'' with ``information which identifies the transaction type (e.g. auction type) for billing purposes.'' Finally, the Exchange is adding an ``and'' before Rule 718(b)(1) subsection (v) ``capacity'' and changing the wording to ``market participant capacity.'' The Exchange has renumbered the CTI sections to account for the language that was removed from the description. Finally, the Exchange is making a grammatical change and adding parenthesis around defined terms. The Exchange is expressing more specifically the type of data contained in CTI. --------------------------------------------------------------------------- \8\ An ``account number'' shall mean a number assigned to a Member. Members may have more than one account number. See proposed Rule 100(a)(1). \9\ A ``badge'' shall mean an account number with a letter suffix assigned to Market Makers. A Market Maker account may be associated with multiple badges. See proposed Rule 100(a)(5). \10\ A ``mnemonic'' shall mean an acronym comprised of letters and/or numbers assigned to Electronic Access Members. An Electronic Access Member account may be associated with multiple mnemonics. See proposed Rule 100(a)(34). --------------------------------------------------------------------------- FIX DROP The Exchange stated in its Prior Filing that ``FIX DROP provides real-time order and execution update is a message that is sent to a Member after an order been received/modified or an execution has occurred and contains trade details. 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.'' \11\ --------------------------------------------------------------------------- \11\ Id. --------------------------------------------------------------------------- The Exchange proposes to memorialize FIX DROP within MRX Rule 718(b)(3). The Exchange notes that at the end of the first sentence of the description it is adding ``specific to that Member'' to make clear that FIX DROP only provides a Member its specific trade information. Also, an ``and'' is included before new (iv) as the numbers have been changed to roman numerals. TradeInfo The Exchange proposes to establish its TradeInfo offering at MRX Rule 718(b)(2). TradeInfo, a user interface, permits a Member to: (i) Search all orders submitted in a particular security or all orders of a particular type, regardless of their status (open, canceled, executed, etc.); (ii) view orders and executions; and (iii) download orders and executions for recordkeeping purposes. TradeInfo users may also cancel open orders at the order, port or firm mnemonic level through TradeInfo. TradeInfo is offered today to Members on MRX at no cost. The Exchange considers it appropriate to establish and memorialize the order and execution information available on MRX within a rule so that Members 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 Members and is specific to a Member's transactions on MRX. 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''),\12\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\13\ 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 MRX. Each proposal is described in more detail below. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- MRX Rule 718(a) The Exchange's proposal to amend the Nasdaq MRX Top Quote Feed to specify that Professional Orders and Priority Customer Orders are segregated and aggregated is consistent with the protection of investors and the public interest because the Exchange is correcting the categories of orders, which are segregated and aggregated. The Public Customer definition is too broad because it includes a portion of Priority Customer, which was already specified within the description. The Exchange proposes to remove Public Customer and replace it with Professional Order to be more specific and amend Priority Customer to Priority Customer Order to reference the types of orders that are aggregated to conform the rule text. The Exchange believes that this amendment will bring more transparency to the information within the feed. MRX Rule 718(b) The Exchange believes that memorializing CTI and FIX DROP within a rule will provide Members with transparency as to the order and information offerings available on MRX specific to their trading on MRX. The Exchange's proposal to establish TradeInfo is consistent with the Act because the Exchange is detailing the contents of this offering as well as providing transparency as to the availability of TradeInfo. The Exchange believes that offering Members TradeInfo, which allows Members to view executions as well as other capabilities with respect to order management, enhances the ability of a Member to manage its orders. The Exchange believes that providing Members with tools to manage orders is consistent with the Act and serves to protect investors and the public interest. Further, the Exchange believes that this proposal is consistent with the Act because TradeInfo provides information regarding information available to market participants, specifically with respect to trades they execute on MRX. The information is available to all Members. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\14\ 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 Nasdaq MRX Top Quote Feed as well as order and execution information offered on MRX. The information is available to all Members. Specifically, TradeInfo is available to any Member that requests this service. The TradeInfo product will provide a Member information regarding that Member's executions. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- [[Page 26719]] 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 foregoing 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, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \15\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\16\ --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A)(iii). \16\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \17\ normally does not become operative prior to 30 days after the date of the filing. However, Rule 19b-4(f)(6)(iii) \18\ permits the Commission to 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 proposed rule change may become effective and operative immediately upon filing. The Exchange states that waiver of the operative delay will allow the Exchange to correct the Nasdaq MRX Top Quote Feed and update its rules immediately regarding order and execution information offered on MRX. The Exchange further states that it believes the waiver will further the protection of investors and the public interest because it will provide greater transparency as to the Nasdaq MRX Top Quote Feed as well as trade detail available to market participants. Further, the Exchange states that memorializing TradeInfo will provide Members with greater information concerning a Member's executions on MRX and make its availability transparent. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change as operative upon filing.\19\ --------------------------------------------------------------------------- \17\ 17 CFR 240.19b-4(f)(6). \18\ 17 CFR 240.19b-4(f)(6)(iii). \19\ 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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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-MRX-2018-16 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-MRX-2018-16. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's internet website (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission's Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-MRX-2018-16 and should be submitted on or before June 29, 2018. --------------------------------------------------------------------------- \20\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\20\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-12318 Filed 6-7-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices 26717
personal identifying information from the proposed rule change and discussed types of orders that are aggregated to
comment submissions. You should any comments it received on the conform the rule text.
submit only information that you wish proposed rule change. The text of these
MRX Rule 718(b)
to make available publicly. All statements may be examined at the
submissions should refer to File places specified in Item IV below. The The Exchange proposes to adopt a
Number SR–MRX–2018–17 and should Exchange has prepared summaries, set new MRX Rule 718(b) and memorialize
be submitted on or before June 29, 2018. forth in sections A, B, and C below, of the following order and execution
the most significant aspects of such information which was discussed in
For the Commission, by the Division of
Trading and Markets, pursuant to delegated statements. other rule filings by the Exchange: (i)
authority.14 Clearing Trade Information or ‘‘CTI’’;
A. Self-Regulatory Organization’s and (ii) FIX DROP.6 The Exchange is
Eduardo A. Aleman, Statement of the Purpose of, and also adding a description for TradeInfo.
Assistant Secretary. Statutory Basis for, the Proposed Rule The TradeInfo user interface is being
[FR Doc. 2018–12320 Filed 6–7–18; 8:45 am] Change offered today on MRX at no cost.
BILLING CODE 8011–01–P The Exchange notes that while CTI
1. Purpose
and FIX Drop information are accessible
The Exchange proposes to add order through a port, TradeInfo is an interface.
SECURITIES AND EXCHANGE and execution information into MRX The Exchange notes this distinction to
COMMISSION Rule 718, entitled ‘‘Data Feeds.’’ The make clear the manner of delivery for
[Release No. 34–83366; File No. SR–MRX– Exchange proposes to rename this rule each of these information types.
2018–16] ‘‘Data Feeds and Trade Information.’’
The Exchange also proposes to amend CTI
Self-Regulatory Organizations; Nasdaq Rule 100 to add definitions. The Exchange stated in its Prior Filing
MRX, LLC; Notice of Filing and that ‘‘CTI is a real-time clearing trade
Immediate Effectiveness of Proposed MRX Rule 718(a)
message that is sent to a Member after
Rule Change To Memorialize Order and The Exchange proposes to amend the an execution has occurred and contains
Execution Information Into MRX Rule Nasdaq MRX Top Quote Feed. The trade details. The message containing
718 Exchange stated in that description that the trade details is also simultaneously
June 4, 2018. this feed calculates and disseminates sent to The Options Clearing
MRX’s best bid and offer position, with Corporation. The information includes,
Pursuant to Section 19(b)(1) of the
aggregated size (including total size in among other things, the following: (i)
Securities Exchange Act of 1934
aggregate, for Public Customer 3 size in The Clearing Member Trade Agreement
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
the aggregate and Priority Customer 4 or ‘‘CMTA’’ or The Options Clearing
notice is hereby given that on May 23,
size in the aggregate), based on Corporation or ‘‘OCC’’ number; (ii)
2018, Nasdaq MRX, LLC (‘‘MRX’’ or
displayable order and quote interest in Exchange badge or house number; (iii)
‘‘Exchange’’) filed with the Securities
the System. The Exchange proposes to the Exchange internal firm identifier;
and Exchange Commission
amend this rule text to instead provide, and (iv) an indicator which will
(‘‘Commission’’) the proposed rule
‘‘this feed calculates and disseminates distinguish electronic and non-
change as described in Items I and II
MRX’s best bid and offer position, with electronically delivered orders; (v)
below, which Items have been prepared
aggregated size (including total size in liquidity indicators and transaction type
by the Exchange. The Commission is
aggregate, for Professional Order 5 size for billing purposes; (vi) capacity.’’ 7
publishing this notice to solicit
in the aggregate and Priority Customer The Exchange is proposing to amend
comments on the proposed rule change
Order size in the aggregate), based on the CTI description and memorialize it
from interested persons.
displayable order and quote interest in within MRX Rule 718(b)(1). The
I. Self-Regulatory Organization’s the System.’’ The Exchange intended to Exchange proposes to eliminate the
Statement of the Terms of Substance of specify that Professional Orders and sentence which states, ‘‘The message
the Proposed Rule Change Priority Customer Orders are segregated containing the trade details is also
The Exchange proposes to and aggregated. The Public Customer simultaneously sent to The Options
memorialize its order and execution definition is too broad because it Clearing Corporation.’’ The Exchange’s
information into MRX Rule 718, entitled includes a portion of Priority Customer, System sends clearing information to
‘‘Data Feeds.’’ which was already specified within the OCC for each transaction. This sentence
The text of the proposed rule change description. The Exchange proposes to does not add information that is useful
is available on the Exchange’s website at remove Public Customer and replace it or relevant and therefore the Exchange
http://nasdaqmrx.cchwallstreet.com/, at with Professional Order to be more proposes to remove it. The Exchange
the principal office of the Exchange, and specific and amend Priority Customer to also proposes to delete the words ‘‘an
at the Commission’s Public Reference Priority Customer Order to reference the indicator which will distinguish
Room. electronic and non-electronically
3 The term ‘‘Public Customer’’ means a person or delivered orders.’’ The only method on
II. Self-Regulatory Organization’s entity that is not a broker or dealer in securities. See MRX to deliver an order is
Statement of the Purpose of, and Rule 100(a)(44). electronically.
Statutory Basis for, the Proposed Rule 4 The term ‘‘Priority Customer’’ means a person
The Exchange proposes to adopt new
Change or entity that (i) is not a broker or dealer in
definitions for ‘‘account number,’’ 8
amozie on DSK3GDR082PROD with NOTICES1
securities, and (ii) does not place more than 390
In its filing with the Commission, the orders in listed options per day on average during
6 See Securities Exchange Act Release No. 81312
Exchange included statements a calendar month for its own beneficial account(s).
See 100(a)(41A). The term ‘‘Priority Customer (August 3, 2017), 82 FR 37253 (August 3, 2017)
concerning the purpose of and basis for Order’’ means an order for the account of a Priority (SR–MRX–2017–13) (‘‘Prior Filing’’).
Customer. See Rule 100(a)(43A). 7 See note 3 above.
14 17 CFR 200.30–3(a)(12). 5 The term ‘‘Professional Order’’ means an order 8 An ‘‘account number’’ shall mean a number
1 15 U.S.C. 78s(b)(1). that is for the account of a person or entity that is assigned to a Member. Members may have more
2 17 CFR 240.19b–4. not a Priority Customer. See Rule 100(a)(43C). Continued
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C. Self-Regulatory Organization’s Therefore, the Commission hereby Washington, DC 20549, on official
Statement on Comments on the waives the 30-day operative delay and business days between the hours of
Proposed Rule Change Received From designates the proposed rule change as 10:00 a.m. and 3:00 p.m. Copies of the
Members, Participants, or Others operative upon filing.19 filing also will be available for
At any time within 60 days of the inspection and copying at the principal
No written comments were either
filing of the proposed rule change, the office of the Exchange. All comments
solicited or received.
Commission summarily may received will be posted without change.
III. Date of Effectiveness of the temporarily suspend such rule change if Persons submitting comments are
Proposed Rule Change and Timing for it appears to the Commission that such cautioned that we do not redact or edit
Commission Action action is: (i) Necessary or appropriate in personal identifying information from
Because the foregoing proposed rule the public interest; (ii) for the protection comment submissions. You should
change does not: (i) Significantly affect of investors; or (iii) otherwise in submit only information that you wish
the protection of investors or the public furtherance of the purposes of the Act. to make available publicly. All
interest; (ii) impose any significant If the Commission takes such action, the submissions should refer to File
burden on competition; and (iii) become Commission shall institute proceedings Number SR–MRX–2018–16 and should
operative for 30 days from the date on to determine whether the proposed rule be submitted on or before June 29, 2018.
which it was filed, or such shorter time should be approved or disapproved.
For the Commission, by the Division of
as the Commission may designate, it has IV. Solicitation of Comments Trading and Markets, pursuant to delegated
become effective pursuant to Section authority.20
Interested persons are invited to
19(b)(3)(A)(iii) of the Act 15 and submit written data, views, and Eduardo A. Aleman,
subparagraph (f)(6) of Rule 19b–4 arguments concerning the foregoing, Assistant Secretary.
thereunder.16 including whether the proposed rule [FR Doc. 2018–12318 Filed 6–7–18; 8:45 am]
A proposed rule change filed under change is consistent with the Act. BILLING CODE 8011–01–P
Rule 19b–4(f)(6) 17 normally does not Comments may be submitted by any of
become operative prior to 30 days after the following methods:
the date of the filing. However, Rule SECURITIES AND EXCHANGE
19b–4(f)(6)(iii) 18 permits the Electronic Comments COMMISSION
Commission to designate a shorter time • Use the Commission’s internet
if such action is consistent with the comment form (http://www.sec.gov/ [Release No. 34–83367; File No. SR–BOX–
protection of investors and the public rules/sro.shtml); or 2018–14]
interest. The Exchange has asked the • Send an email to rule-comments@
Commission to waive the 30-day Self-Regulatory Organizations; BOX
sec.gov. Please include File Number SR–
operative delay so that the proposed Options Exchange LLC; Notice of
MRX–2018–16 on the subject line.
rule change may become effective and Filing of Proposed Rule Change To
Paper Comments Adopt Rules Governing the Trading of
operative immediately upon filing. The
Exchange states that waiver of the • Send paper comments in triplicate Complex Qualified Contingent Cross
operative delay will allow the Exchange to Secretary, Securities and Exchange and Complex Customer Cross Orders
to correct the Nasdaq MRX Top Quote Commission, 100 F Street NE, June 4, 2018.
Feed and update its rules immediately Washington, DC 20549–1090. Pursuant to Section 19(b)(1) of the
regarding order and execution All submissions should refer to File Securities Exchange Act of 1934 (the
information offered on MRX. The Number SR–MRX–2018–16. This file ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Exchange further states that it believes number should be included on the notice is hereby given that on May 22,
the waiver will further the protection of subject line if email is used. To help the 2018, BOX Options Exchange LLC (the
investors and the public interest Commission process and review your ‘‘Exchange’’) filed with the Securities
because it will provide greater comments more efficiently, please use and Exchange Commission
transparency as to the Nasdaq MRX Top only one method. The Commission will (‘‘Commission’’) the proposed rule
Quote Feed as well as trade detail post all comments on the Commission’s change as described in Items I and II
available to market participants. internet website (http://www.sec.gov/ below, which Items have been prepared
Further, the Exchange states that rules/sro.shtml). Copies of the by the self-regulatory organization. The
memorializing TradeInfo will provide submission, all subsequent Commission is publishing this notice to
Members with greater information amendments, all written statements solicit comments on the proposed rule
concerning a Member’s executions on with respect to the proposed rule change from interested persons.
MRX and make its availability change that are filed with the
transparent. The Commission believes Commission, and all written I. Self-Regulatory Organization’s
that waiver of the 30-day operative communications relating to the Statement of the Terms of the Substance
delay is consistent with the protection proposed rule change between the of the Proposed Rule Change
of investors and the public interest. Commission and any person, other than The Exchange proposes to adopt rules
those that may be withheld from the governing the trading of Complex
15 15 U.S.C. 78s(b)(3)(A)(iii). public in accordance with the Qualified Contingent Cross and
16 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– provisions of 5 U.S.C. 552, will be Complex Customer Cross Orders. The
4(f)(6)(iii) requires a self-regulatory organization to available for website viewing and text of the proposed rule change is
amozie on DSK3GDR082PROD with NOTICES1
give the Commission written notice of its intent to
file the proposed rule change, along with a brief printing in the Commission’s Public available from the principal office of the
description and text of the proposed rule change, Reference Room, 100 F Street NE, Exchange, at the Commission’s Public
at least five business days prior to the date of filing Reference Room and also on the
of the proposed rule change, or such shorter time 19 For purposes only of waiving the 30-day
as designated by the Commission. The Exchange operative delay, the Commission has also
has satisfied this requirement. considered the proposed rule’s impact on
20 17 CFR 200.30–3(a)(12).
17 17 CFR 240.19b–4(f)(6). 1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See
18 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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Document Created: 2018-06-08 01:22:35
Document Modified: 2018-06-08 01:22:35
| 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 26717 |
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