83_FR_26835 83 FR 26724 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend and Reorganize Chapter V of the ISE Schedule of Fees

83 FR 26724 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend and Reorganize Chapter V of the ISE Schedule of Fees

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 111 (June 8, 2018)

Page Range26724-26726
FR Document2018-12322

Federal Register, Volume 83 Issue 111 (Friday, June 8, 2018)
[Federal Register Volume 83, Number 111 (Friday, June 8, 2018)]
[Notices]
[Pages 26724-26726]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-12322]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83370; File No. SR-ISE-2018-48]


Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend and 
Reorganize Chapter V of the ISE Schedule of Fees

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 22, 2018, Nasdaq ISE, LLC (``ISE'' 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 and reorganize Chapter V of the ISE 
Schedule of Fees.
    The text of the proposed rule change is available on the Exchange's 
website at http://ise.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 amend Chapter V of the ISE Schedule of 
Fees to: (i) Eliminate the Table of Contents; (ii) retitle Section V, 
currently titled ``Trading Application;'' (iii) retitle Parts A, B and 
C of Chapter V which are currently titled ``Installation,'' ``Software 
License & Maintenance'' and ``Reserved'' respectively; and (iv) 
eliminate the Part D title, ``INET Port Fees'' and amend and reorganize 
the current port fees. Each change will be described in more detail 
below. The Exchange believes that the proposed amendments to the 
Schedule of Fees will provide more clarity as to the current fees. The 
Exchange notes that no fee changes are being introduced with this rule 
change. The Exchange is simply reorganizing its rules to conform to 
other Nasdaq affiliate markets by aligning the location and description 
of its rules on each market.

[[Page 26725]]

Table of Contents
    The Exchange proposes to eliminate the Table of Contents in the ISE 
Schedule of Fees. The Table Contents are unnecessary. The website where 
the ISE rules are listed \3\ contains hyperlinks and a skeleton of the 
available rules within the site and enables market participants to view 
all rules in that section.
---------------------------------------------------------------------------

    \3\ ISE rules are located at: http://ise.cchwallstreet.demo.cch.com/.
---------------------------------------------------------------------------

Section V, Trading Application
    The Exchange proposes to retitle Section V, currently titled 
``Trading Application'' as ``Connectivity Fees.'' The Exchange believes 
that this title more accurately describes the types of fees contained 
in this chapter. No other changes are being made to this section.
Chapter V, Parts A, B and C
    The Exchange proposes to amend Chapter V, Part A to retitle this 
section from ``Installation'' to ``Trading Application.'' The Exchange 
propose to amend Chapter V, Part B to retitle this section from 
``Software License & Maintenance'' to ``Trading Application.'' The 
Exchange proposes to retitle Chapter V, Part C, which is currently 
``Reserved'' as ``Ports and Other Services.'' The Exchange believes 
that these titles more accurately describes the types of fees contained 
in Chapter V by section. The Exchange is not otherwise amending Parts A 
and B. The Exchange is proposing to relocate from current Part D, 
titled ``INET Port Fees'' into Part C.
INET Port Fees
    The Exchange proposes to eliminate the title to Chapter V, Part D, 
titled ``INET Port Fees.'' The Exchange is proposing to restructure the 
port fees currently in Part D into newly retitled Part C.
    The Exchange proposes to add language at the beginning of new Part 
C which provides, ``The below charges are assessed by ISE for 
connectivity to ISE.'' The Exchange believes that this sentence makes 
clear that the fees apply to ISE. The Exchange proposes to define a 
port 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.
    The Exchange proposes to relocate the current port fees within Part 
D to Part C and restructure the port fees into 4 categories. The 
Exchange proposes 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 that are 
offered at no cost. The Exchange believes that aligning its offerings, 
where relevant, with other affiliated markets \4\ will provide more 
transparency as to the offerings for market participants.
---------------------------------------------------------------------------

    \4\ The Exchange offers various services across its 6 affiliated 
options markets, ISE, Nasdaq Phlx LLC, Nasdaq BX, Inc., The Nasdaq 
Options Market LLC, Nasdaq GEMX, LLC and Nasdaq MRX, LLC (``Nasdaq 
Affiliated Markets'').
---------------------------------------------------------------------------

    The Exchange proposes to add a new section (i) and include the 
following introductory sentence, ``The following order and quote 
protocols are available on ISE.'' The Exchange proposes to list the 
order entry protocol port fees for FIX, SQF and OTTO in this section. 
The fees are not being amended, the existing fees are being relocated 
into new section (i).
    The Exchange proposes to add a new section (ii) and include the 
following introductory sentence, ``The following order and execution 
information is available to Members.'' The Exchange intends to list 
other port or interface information into this section that are 
available to ISE Members. The Exchange is relocating the CTI and FIX 
DROP port fees. No changes are being made to those fees. The Exchange 
also proposes to list TradeInfo ISE Interface into this section. The 
Exchange has recently filed to establish this Interface within the ISE 
rules.\5\ The Exchange proposes to note this interface is available on 
ISE at no cost.
---------------------------------------------------------------------------

    \5\ See SR-ISE-2018-47 (not yet published).
---------------------------------------------------------------------------

    The Exchange proposes to add a new section (iii) and include the 
following language, ``The following data port fees apply in connection 
with data subscriptions pursuant to ISE Rules at Chapter VIII. These 
ports are available to non-ISE Members and ISE Members.'' Today, ISE 
does not assess a fee for these ports outlined in new section (iii). 
Similar to other Nasdaq Affiliated Markets the Exchange proposes to 
list all of the ports that Members and Non-Members obtain today at no 
cost. The Exchange believes that listing these ports in addition to the 
data subscriptions will bring more transparency to the Schedule of 
Fees.
    The Exchange proposes to add a new section (iv) entitled ``Other 
ports'' and relocate the Disaster Recovery Ports into this section. The 
Exchange also proposes to make clear that a Disaster Recovery Port is 
available for any port listed in proposed sections (i)-(iii).
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''),\6\ in general, and furthers the objectives of Section 6(b)(5) 
of the Act,\7\ 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 ports offered on ISE.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange's proposal to remove the Table of Contents and retitle 
the various parts of Chapter V are administrative. These changes are 
consistent with the protection of investor and the public interest 
because the amendments are intended to bring greater clarity to the 
Rulebook. The Exchange's proposal to reorganize the port fees into 
sections and include pricing for ports that are offered at no cost is 
also consistent with the protection of investor and the public interest 
because it will bring greater transparency to the Exchange's current 
offerings.

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 ports offered on ISE.
---------------------------------------------------------------------------

    \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 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

[[Page 26726]]

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 \9\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\10\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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) \11\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, Rule 19b-4(f)(6)(iii) \12\ 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 it believes the waiver will further the 
protection of investors and the public interest because it will provide 
greater transparency as to various ports available to market 
participants. The Exchange further states that the proposed rule change 
will bring greater clarity to the Schedule of Fees. 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.\13\
---------------------------------------------------------------------------

    \11\ 17 CFR 240.19b-4(f)(6).
    \12\ 17 CFR 240.19b-4(f)(6)(iii).
    \13\ 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 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-ISE-2018-48 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-ISE-2018-48. 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-ISE-2018-48 and should be submitted on 
or before June 29, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12322 Filed 6-7-18; 8:45 am]
BILLING CODE 8011-01-P



                                              26724                            Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices

                                              error. The Exchange believes the                        Commission process and review your                     (‘‘Commission’’) the proposed rule
                                              proposal is pro-competitive and should                  comments more efficiently, please use                  change as described in Items I and II
                                              serve to attract additional Complex                     only one method. The Commission will                   below, which Items have been prepared
                                              Orders to the Exchange. Further, the                    post all comments on the Commission’s                  by the Exchange. The Commission is
                                              Exchange does not believe the proposed                  internet website (http://www.sec.gov/                  publishing this notice to solicit
                                              change will not impose a burden on                      rules/sro.shtml). Copies of the                        comments on the proposed rule change
                                              intramarket competition because it is                   submission, all subsequent                             from interested persons.
                                              available to all Participants.                          amendments, all written statements
                                                For the reasons stated, the Exchange                  with respect to the proposed rule                      I. Self-Regulatory Organization’s
                                              does not believe that the proposed rule                 change that are filed with the                         Statement of the Terms of Substance of
                                              changes will impose any burden on                       Commission, and all written                            the Proposed Rule Change
                                              competition not necessary or                            communications relating to the
                                                                                                                                                                The Exchange proposes to amend and
                                              appropriate in furtherance of the                       proposed rule change between the
                                                                                                                                                             reorganize Chapter V of the ISE
                                              purposes of the Act, and the Exchange                   Commission and any person, other than
                                                                                                                                                             Schedule of Fees.
                                              believes the proposed change will, in                   those that may be withheld from the
                                              fact, enhance competition.                              public in accordance with the                             The text of the proposed rule change
                                                                                                      provisions of 5 U.S.C. 552, will be                    is available on the Exchange’s website at
                                              C. Self-Regulatory Organization’s                       available for website viewing and                      http://ise.cchwallstreet.com/, at the
                                              Statement on Comments on the                            printing in the Commission’s Public                    principal office of the Exchange, and at
                                              Proposed Rule Change Received From                      Reference Room, 100 F Street, NE,                      the Commission’s Public Reference
                                              Members, Participants, or Others                        Washington, DC 20549 on official                       Room.
                                                The Exchange has neither solicited                    business days between the hours of
                                                                                                      10:00 a.m. and 3:00 p.m. Copies of such                II. Self-Regulatory Organization’s
                                              nor received comments on the proposed
                                              rule change.                                            filing also will be available for                      Statement of the Purpose of, and
                                                                                                      inspection and copying at the principal                Statutory Basis for, the Proposed Rule
                                              III. Date of Effectiveness of the                       office of the Exchange. All comments                   Change
                                              Proposed Rule Change and Timing for                     received will be posted without change.
                                              Commission Action                                                                                                In its filing with the Commission, the
                                                                                                      Persons submitting comments are                        Exchange included statements
                                                 Within 45 days of the date of                        cautioned that we do not redact or edit                concerning the purpose of and basis for
                                              publication of this notice in the Federal               personal identifying information from                  the proposed rule change and discussed
                                              Register or within such longer period                   comment submissions. You should                        any comments it received on the
                                              up to 90 days (i) as the Commission may                 submit only information that you wish
                                                                                                                                                             proposed rule change. The text of these
                                              designate if it finds such longer period                to make available publicly. All
                                                                                                                                                             statements may be examined at the
                                              to be appropriate and publishes its                     submissions should refer to File
                                                                                                                                                             places specified in Item IV below. The
                                              reasons for so finding or (ii) as to which              Number SR–BOX–2018–14, and should
                                                                                                                                                             Exchange has prepared summaries, set
                                              the self-regulatory organization                        be submitted on or before June 29, 2018.
                                                                                                                                                             forth in sections A, B, and C below, of
                                              consents, the Commission will:                            For the Commission, by the Division of
                                                 (A) By order approve or disapprove                                                                          the most significant aspects of such
                                                                                                      Trading and Markets, pursuant to delegated             statements.
                                              the proposed rule change, or                            authority.33
                                                 (B) institute proceedings to determine               Eduardo A. Aleman,                                     A. Self-Regulatory Organization’s
                                              whether the proposed rule change                        Assistant Secretary.                                   Statement of the Purpose of, and
                                              should be disapproved.                                  [FR Doc. 2018–12319 Filed 6–7–18; 8:45 am]             Statutory Basis for, the Proposed Rule
                                              IV. Solicitation of Comments                            BILLING CODE 8011–01–P                                 Change
                                                Interested persons are invited to                                                                            1. Purpose
                                              submit written data, views, and                         SECURITIES AND EXCHANGE
                                              arguments concerning the foregoing,                                                                               The Exchange proposes to amend
                                                                                                      COMMISSION                                             Chapter V of the ISE Schedule of Fees
                                              including whether the proposed rule
                                              change is consistent with the Act.                      [Release No. 34–83370; File No. SR–ISE–                to: (i) Eliminate the Table of Contents;
                                              Comments may be submitted by any of                     2018–48]                                               (ii) retitle Section V, currently titled
                                              the following methods:                                                                                         ‘‘Trading Application;’’ (iii) retitle Parts
                                                                                                      Self-Regulatory Organizations; Nasdaq                  A, B and C of Chapter V which are
                                              Electronic Comments                                     ISE, LLC; Notice of Filing and                         currently titled ‘‘Installation,’’
                                                • Use the Commission’s internet                       Immediate Effectiveness of Proposed                    ‘‘Software License & Maintenance’’ and
                                              comment form (http://www.sec.gov/                       Rule Change To Amend and                               ‘‘Reserved’’ respectively; and (iv)
                                              rules/sro.shtml); or                                    Reorganize Chapter V of the ISE                        eliminate the Part D title, ‘‘INET Port
                                                • Send an email to rule-comments@                     Schedule of Fees                                       Fees’’ and amend and reorganize the
                                              sec.gov. Please include File Number SR–                 June 4, 2018.                                          current port fees. Each change will be
                                              BOX–2018–14 on the subject line.                           Pursuant to Section 19(b)(1) of the                 described in more detail below. The
                                                                                                      Securities Exchange Act of 1934                        Exchange believes that the proposed
                                              Paper Comments
                                                                                                      (‘‘Act’’),1 and Rule 19b–4 thereunder,2                amendments to the Schedule of Fees
                                                • Send paper comments in triplicate                   notice is hereby given that on May 22,                 will provide more clarity as to the
amozie on DSK3GDR082PROD with NOTICES1




                                              to Brent J. Fields, Secretary, Securities               2018, Nasdaq ISE, LLC (‘‘ISE’’ or                      current fees. The Exchange notes that no
                                              and Exchange Commission, 100 F Street                   ‘‘Exchange’’) filed with the Securities                fee changes are being introduced with
                                              NE, Washington, DC 20549–1090.                          and Exchange Commission                                this rule change. The Exchange is
                                              All submissions should refer to File                                                                           simply reorganizing its rules to conform
                                              Number SR–BOX–2018–14. This file                          33 17 CFR 200.30–3(a)(12).                           to other Nasdaq affiliate markets by
                                              number should be included on the                          1 15 U.S.C. 78s(b)(1).                               aligning the location and description of
                                              subject line if email is used. To help the                2 17 CFR 240.19b–4.                                  its rules on each market.


                                         VerDate Sep<11>2014   16:53 Jun 07, 2018   Jkt 241001   PO 00000   Frm 00084   Fmt 4703   Sfmt 4703   E:\FR\FM\08JNN1.SGM   08JNN1


                                                                                 Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices                                            26725

                                              Table of Contents                                        categories. The Exchange proposes to                   2. Statutory Basis
                                                The Exchange proposes to eliminate                     list order and quote protocols first, order               The Exchange believes that the
                                              the Table of Contents in the ISE                         and execution offerings next, followed                 proposed rule change is consistent with
                                              Schedule of Fees. The Table Contents                     by data ports and other ports as the last              Section 6(b) of the Securities Exchange
                                              are unnecessary. The website where the                   section. The Exchange proposes to list                 Act of 1934 (the ‘‘Act’’),6 in general, and
                                              ISE rules are listed 3 contains hyperlinks               data offerings that are offered at no cost.            furthers the objectives of Section 6(b)(5)
                                              and a skeleton of the available rules                    The Exchange believes that aligning its                of the Act,7 in particular, in that it is
                                              within the site and enables market                       offerings, where relevant, with other                  designed to promote just and equitable
                                              participants to view all rules in that                   affiliated markets 4 will provide more                 principles of trade, to remove
                                              section.                                                 transparency as to the offerings for                   impediments to and perfect the
                                                                                                       market participants.                                   mechanism for a free and open market
                                              Section V, Trading Application                              The Exchange proposes to add a new                  and a national market system, and, in
                                                The Exchange proposes to retitle                       section (i) and include the following                  general, to protect investors and the
                                              Section V, currently titled ‘‘Trading                    introductory sentence, ‘‘The following                 public interest, by providing greater
                                              Application’’ as ‘‘Connectivity Fees.’’                  order and quote protocols are available                transparency as to the ports offered on
                                              The Exchange believes that this title                    on ISE.’’ The Exchange proposes to list                ISE.
                                              more accurately describes the types of                   the order entry protocol port fees for                    The Exchange’s proposal to remove
                                              fees contained in this chapter. No other                 FIX, SQF and OTTO in this section. The                 the Table of Contents and retitle the
                                              changes are being made to this section.                  fees are not being amended, the existing               various parts of Chapter V are
                                                                                                       fees are being relocated into new section              administrative. These changes are
                                              Chapter V, Parts A, B and C
                                                                                                       (i).                                                   consistent with the protection of
                                                 The Exchange proposes to amend                           The Exchange proposes to add a new                  investor and the public interest because
                                              Chapter V, Part A to retitle this section                section (ii) and include the following                 the amendments are intended to bring
                                              from ‘‘Installation’’ to ‘‘Trading                       introductory sentence, ‘‘The following                 greater clarity to the Rulebook. The
                                              Application.’’ The Exchange propose to                   order and execution information is                     Exchange’s proposal to reorganize the
                                              amend Chapter V, Part B to retitle this                  available to Members.’’ The Exchange                   port fees into sections and include
                                              section from ‘‘Software License &                        intends to list other port or interface                pricing for ports that are offered at no
                                              Maintenance’’ to ‘‘Trading                               information into this section that are                 cost is also consistent with the
                                              Application.’’ The Exchange proposes to                  available to ISE Members. The Exchange                 protection of investor and the public
                                              retitle Chapter V, Part C, which is                      is relocating the CTI and FIX DROP port                interest because it will bring greater
                                              currently ‘‘Reserved’’ as ‘‘Ports and                    fees. No changes are being made to                     transparency to the Exchange’s current
                                              Other Services.’’ The Exchange believes                  those fees. The Exchange also proposes                 offerings.
                                              that these titles more accurately                        to list TradeInfo ISE Interface into this
                                              describes the types of fees contained in                                                                        B. Self-Regulatory Organization’s
                                                                                                       section. The Exchange has recently filed
                                              Chapter V by section. The Exchange is                                                                           Statement on Burden on Competition
                                                                                                       to establish this Interface within the ISE
                                              not otherwise amending Parts A and B.                    rules.5 The Exchange proposes to note                    In accordance with Section 6(b)(8) of
                                              The Exchange is proposing to relocate                    this interface is available on ISE at no               the Act,8 the Exchange does not believe
                                              from current Part D, titled ‘‘INET Port                  cost.                                                  that the proposed rule change will
                                              Fees’’ into Part C.                                         The Exchange proposes to add a new                  impose any burden on intermarket or
                                              INET Port Fees                                           section (iii) and include the following                intra-market competition that is not
                                                                                                       language, ‘‘The following data port fees               necessary or appropriate in furtherance
                                                 The Exchange proposes to eliminate                    apply in connection with data                          of the purposes of the Act. The
                                              the title to Chapter V, Part D, titled                   subscriptions pursuant to ISE Rules at                 Exchange’s proposal does not impose an
                                              ‘‘INET Port Fees.’’ The Exchange is                      Chapter VIII. These ports are available                undue burden on competition, rather
                                              proposing to restructure the port fees                   to non-ISE Members and ISE Members.’’                  the Exchange is seeking to provide
                                              currently in Part D into newly retitled                  Today, ISE does not assess a fee for                   greater transparency within its rules
                                              Part C.                                                  these ports outlined in new section (iii).             with respect to the various ports offered
                                                 The Exchange proposes to add                                                                                 on ISE.
                                                                                                       Similar to other Nasdaq Affiliated
                                              language at the beginning of new Part C
                                                                                                       Markets the Exchange proposes to list                  C. Self-Regulatory Organization’s
                                              which provides, ‘‘The below charges are
                                                                                                       all of the ports that Members and Non-                 Statement on Comments on the
                                              assessed by ISE for connectivity to ISE.’’
                                                                                                       Members obtain today at no cost. The                   Proposed Rule Change Received From
                                              The Exchange believes that this
                                                                                                       Exchange believes that listing these                   Members, Participants, or Others
                                              sentence makes clear that the fees apply
                                                                                                       ports in addition to the data
                                              to ISE. The Exchange proposes to define                                                                           No written comments were either
                                                                                                       subscriptions will bring more
                                              a port as ‘‘a logical connection or                                                                             solicited or received.
                                                                                                       transparency to the Schedule of Fees.
                                              session that enables a market participant
                                                                                                          The Exchange proposes to add a new                  III. Date of Effectiveness of the
                                              to send inbound messages and/or
                                                                                                       section (iv) entitled ‘‘Other ports’’ and              Proposed Rule Change and Timing for
                                              receive outbound messages from the
                                                                                                       relocate the Disaster Recovery Ports into              Commission Action
                                              Exchange using various communication
                                                                                                       this section. The Exchange also
                                              protocols.’’ The Exchange believes this                                                                            Because the foregoing proposed rule
                                                                                                       proposes to make clear that a Disaster
                                              definition will assist members in                                                                               change does not: (i) Significantly affect
                                                                                                       Recovery Port is available for any port
                                              distinguishing ports from other                                                                                 the protection of investors or the public
amozie on DSK3GDR082PROD with NOTICES1




                                                                                                       listed in proposed sections (i)–(iii).
                                              offerings.                                                                                                      interest; (ii) impose any significant
                                                 The Exchange proposes to relocate the                                                                        burden on competition; and (iii) become
                                                                                                          4 The Exchange offers various services across its
                                              current port fees within Part D to Part                  6 affiliated options markets, ISE, Nasdaq Phlx LLC,
                                                                                                                                                              operative for 30 days from the date on
                                              C and restructure the port fees into 4                   Nasdaq BX, Inc., The Nasdaq Options Market LLC,
                                                                                                                                                               6 15 U.S.C. 78f(b).
                                                                                                       Nasdaq GEMX, LLC and Nasdaq MRX, LLC
                                                3 ISErules are located at: http://                     (‘‘Nasdaq Affiliated Markets’’).                        7 15 U.S.C. 78f(b)(5).
                                              ise.cchwallstreet.demo.cch.com/.                            5 See SR–ISE–2018–47 (not yet published).            8 15 U.S.C. 78f(b)(8).




                                         VerDate Sep<11>2014    16:53 Jun 07, 2018   Jkt 241001   PO 00000   Frm 00085   Fmt 4703   Sfmt 4703   E:\FR\FM\08JNN1.SGM   08JNN1


                                              26726                              Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices

                                              which it was filed, or such shorter time                  including whether the proposed rule                     SECURITIES AND EXCHANGE
                                              as the Commission may designate, it has                   change is consistent with the Act.                      COMMISSION
                                              become effective pursuant to Section                      Comments may be submitted by any of
                                                                                                                                                                [Release No. 34–83369; File No. SR–GEMX–
                                              19(b)(3)(A)(iii) of the Act 9 and                         the following methods:                                  2018–18]
                                              subparagraph (f)(6) of Rule 19b–4
                                                                                                        Electronic Comments
                                              thereunder.10                                                                                                     Self-Regulatory Organizations; Nasdaq
                                                 A proposed rule change filed under                       • Use the Commission’s internet                       GEMX, LLC; Notice of Filing and
                                              Rule 19b–4(f)(6) 11 normally does not                     comment form (http://www.sec.gov/                       Immediate Effectiveness of Proposed
                                              become operative prior to 30 days after                   rules/sro.shtml); or                                    Rule Change To Amend and
                                              the date of the filing. However, Rule                       • Send an email to rule-comments@                     Reorganize Chapter IV of the GEMX
                                              19b–4(f)(6)(iii) 12 permits the                           sec.gov. Please include File Number SR–                 Schedule of Fees
                                              Commission to designate a shorter time                    ISE–2018–48 on the subject line.
                                              if such action is consistent with the                                                                             June 4, 2018.
                                              protection of investors and the public                    Paper Comments                                             Pursuant to Section 19(b)(1) of the
                                              interest. The Exchange has asked the                                                                              Securities Exchange Act of 1934
                                                                                                           • Send paper comments in triplicate
                                              Commission to waive the 30-day                                                                                    (‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                                                                                        to Secretary, Securities and Exchange
                                              operative delay so that the proposed                                                                              notice is hereby given that on May 22,
                                                                                                        Commission, 100 F Street NE,
                                              rule change may become effective and                                                                              2018, Nasdaq GEMX, LLC (‘‘GEMX’’ or
                                                                                                        Washington, DC 20549–1090.                              ‘‘Exchange’’) filed with the Securities
                                              operative immediately upon filing. The
                                              Exchange states that it believes the                      All submissions should refer to File                    and Exchange Commission
                                              waiver will further the protection of                     Number SR–ISE–2018–48. This file                        (‘‘Commission’’) the proposed rule
                                              investors and the public interest                         number should be included on the                        change as described in Items I and II
                                              because it will provide greater                           subject line if email is used. To help the              below, which Items have been prepared
                                              transparency as to various ports                          Commission process and review your                      by the Exchange. The Commission is
                                              available to market participants. The                     comments more efficiently, please use                   publishing this notice to solicit
                                              Exchange further states that the                          only one method. The Commission will                    comments on the proposed rule change
                                              proposed rule change will bring greater                   post all comments on the Commission’s                   from interested persons.
                                              clarity to the Schedule of Fees. The                      internet website (http://www.sec.gov/
                                                                                                                                                                I. Self-Regulatory Organization’s
                                              Commission believes that waiver of the                    rules/sro.shtml). Copies of the
                                                                                                                                                                Statement of the Terms of Substance of
                                              30-day operative delay is consistent                      submission, all subsequent
                                                                                                                                                                the Proposed Rule Change
                                              with the protection of investors and the                  amendments, all written statements
                                                                                                        with respect to the proposed rule                          The Exchange proposes to amend and
                                              public interest. Therefore, the                                                                                   reorganize Chapter IV of the GEMX
                                              Commission hereby waives the 30-day                       change that are filed with the
                                                                                                        Commission, and all written                             Schedule of Fees.
                                              operative delay and designates the                                                                                   The text of the proposed rule change
                                              proposed rule change as operative upon                    communications relating to the
                                                                                                        proposed rule change between the                        is available on the Exchange’s website at
                                              filing.13                                                                                                         http://nasdaqgemx.cchwallstreet.com/,
                                                 At any time within 60 days of the                      Commission and any person, other than
                                                                                                        those that may be withheld from the                     at the principal office of the Exchange,
                                              filing of the proposed rule change, the                                                                           and at the Commission’s Public
                                              Commission summarily may                                  public in accordance with the
                                                                                                        provisions of 5 U.S.C. 552, will be                     Reference Room.
                                              temporarily suspend such rule change if
                                              it appears to the Commission that such                    available for website viewing and                       II. Self-Regulatory Organization’s
                                              action is: (i) Necessary or appropriate in                printing in the Commission’s Public                     Statement of the Purpose of, and
                                              the public interest; (ii) for the protection              Reference Room, 100 F Street NE,                        Statutory Basis for, the Proposed Rule
                                              of investors; or (iii) otherwise in                       Washington, DC 20549, on official                       Change
                                              furtherance of the purposes of the Act.                   business days between the hours of
                                                                                                                                                                   In its filing with the Commission, the
                                              If the Commission takes such action, the                  10:00 a.m. and 3:00 p.m. Copies of the
                                                                                                                                                                Exchange included statements
                                              Commission shall institute proceedings                    filing also will be available for
                                                                                                                                                                concerning the purpose of and basis for
                                              to determine whether the proposed rule                    inspection and copying at the principal
                                                                                                                                                                the proposed rule change and discussed
                                              should be approved or disapproved.                        office of the Exchange. All comments
                                                                                                                                                                any comments it received on the
                                                                                                        received will be posted without change.
                                              IV. Solicitation of Comments                                                                                      proposed rule change. The text of these
                                                                                                        Persons submitting comments are
                                                                                                                                                                statements may be examined at the
                                                Interested persons are invited to                       cautioned that we do not redact or edit
                                                                                                                                                                places specified in Item IV below. The
                                              submit written data, views, and                           personal identifying information from
                                                                                                                                                                Exchange has prepared summaries, set
                                              arguments concerning the foregoing,                       comment submissions. You should
                                                                                                                                                                forth in sections A, B, and C below, of
                                                                                                        submit only information that you wish
                                                                                                                                                                the most significant aspects of such
                                                9 15  U.S.C. 78s(b)(3)(A)(iii).                         to make available publicly. All
                                                                                                                                                                statements.
                                                10 17  CFR 240.19b–4(f)(6). In addition, Rule 19b–      submissions should refer to File
                                              4(f)(6) requires a self-regulatory organization to give   Number SR–ISE–2018–48 and should be                     A. Self-Regulatory Organization’s
                                              the Commission written notice of its intent to file       submitted on or before June 29, 2018.                   Statement of the Purpose of, and
                                              the proposed rule change at least five business days
                                              prior to the date of filing of the proposed rule            For the Commission, by the Division of                Statutory Basis for, the Proposed Rule
                                              change, or such shorter time as designated by the         Trading and Markets, pursuant to delegated              Change
amozie on DSK3GDR082PROD with NOTICES1




                                              Commission. The Exchange has satisfied this               authority.14
                                              requirement.                                                                                                      1. Purpose
                                                 11 17 CFR 240.19b–4(f)(6).                             Eduardo A. Aleman,
                                                                                                                                                                   The Exchange proposes to amend
                                                 12 17 CFR 240.19b–4(f)(6)(iii).                        Assistant Secretary.
                                                                                                                                                                Chapters IV of the GEMX Schedule of
                                                 13 For purposes only of waiving the 30-day             [FR Doc. 2018–12322 Filed 6–7–18; 8:45 am]
                                              operative delay, the Commission has also
                                                                                                                                                                Fees to: (i) Eliminate the Table of
                                                                                                        BILLING CODE 8011–01–P
                                              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).                                           14 17   CFR 200.30–3(a)(12).                           2 17   CFR 240.19b–4.



                                         VerDate Sep<11>2014    16:53 Jun 07, 2018   Jkt 241001   PO 00000   Frm 00086     Fmt 4703   Sfmt 4703   E:\FR\FM\08JNN1.SGM    08JNN1



Document Created: 2018-06-08 01:22:04
Document Modified: 2018-06-08 01:22:04
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 26724 

2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR