83_FR_28155 83 FR 28039 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Descriptions of Certain Data Feeds Within the Nasdaq Options Market

83 FR 28039 - Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Descriptions of Certain Data Feeds Within the Nasdaq Options Market

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 116 (June 15, 2018)

Page Range28039-28041
FR Document2018-12854

Federal Register, Volume 83 Issue 116 (Friday, June 15, 2018)
[Federal Register Volume 83, Number 116 (Friday, June 15, 2018)]
[Notices]
[Pages 28039-28041]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-12854]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83405; File No. SR-NASDAQ-2018-040]


Self-Regulatory Organizations; The Nasdaq Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Amend the Descriptions of Certain Data Feeds Within the Nasdaq Options 
Market

June 11, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on May 30, 2018, The Nasdaq Stock Market LLC (``Nasdaq'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I and 
II below, which Items have been prepared by the Exchange. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.

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[[Page 28040]]

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the descriptions of certain data 
feeds within the Nasdaq Options Market LLC (``NOM'') Chapter VI, 
Section 19, entitled ``Data Feeds and Trade Information.'' The Exchange 
also proposes to correct an error within the fee schedule.
    The text of the proposed rule change is available on the Exchange's 
website at http://nasdaq.cchwallstreet.com, at the principal office of 
the Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend Chapter VI, Section 19, entitled 
``Data Feeds and Trade Information'' to further detail the type of 
information available on Nasdaq ITCH to Trade Options (ITTO) or Best of 
Nasdaq Options (BONO) which describes symbol directory information with 
a more specific description of the options symbol directory that was 
recently utilized in ISE Rule 718(a).\3\ The Exchange also proposes to 
correct an inadvertent omission within Chapter XV, Section 3 pertaining 
to an options port fee.
---------------------------------------------------------------------------

    \3\ The data provided for each options series includes the 
symbols (series and underlying security), put or call indicator, 
expiration date, the strike price of the series, and whether the 
option series is available for trading on ISE and identifies if the 
series is available for closing transactions only.
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Chapter VI, Section 19
    The Exchange desires to amend the description of ITTO which 
currently provides, ``ITTO is a data feed that provides quotation 
information for individual orders on the NOM book, last sale 
information for trades executed on NOM, and Order Imbalance Information 
as set forth in NOM Rules Chapter VI, Section 8.'' The Exchange 
proposes to amend this sentence to provide, ``ITTO is a data feed that 
provides full order and quote depth information for individual orders 
and quotes on the NOM book, last sale information for trades executed 
on NOM, and Order Imbalance Information as set forth in NOM Rules 
Chapter VI, Section 8.'' The Exchange proposes this language to make 
clear that this data feed has full order and quote information and not 
top of book information. The Exchange believes this proposed language 
will bring greater clarity to this description. The ITTO feed is not 
changing.
    Also, today ITTO and BONO have an options symbol directory within 
those data feeds. The Exchange proposes to add a sentence to each of 
those data feeds to describe the data provided for each options series. 
The data includes the symbol (series and underlying security), put or 
call indicator, expiration date, the strike price of the series, and 
whether the option series is available for trading on NOM and 
identifies if the series is available for closing transactions only. 
The Exchange inadvertently excluded this information when it originally 
filed the description for these feeds. The Exchange believes that 
adding this language will bring greater clarity to each of these feeds.
    The Exchange also proposes to replace the word ``Exchange'' with 
``NOM'' in Section 19(a).
Chapter XV, Section 3
    The Exchange filed a rule change to reorganize its port fees.\4\ 
The Exchange added a new section 3(i) which included the order and 
quote protocols are available on NOM. The Exchange noted in that rule 
change that it was not amending any pricing related to the protocols, 
rather the Exchange relocated and reorganized certain fees including 
the OTTO Port Fee. The Exchange relocated the OTTO port fee to section 
3(i) and noted the OTTO Port Fee was $750, per port, per month. The 
Exchange did not properly carry over the description of the OTTO Port 
Fee, which was $750, per port, per month, per mnemonic. The Exchange 
proposes to correct this error by adding ``per mnemonic'' back to this 
fee as it never intended to amend the manner in which an OTTO Port was 
billed.
---------------------------------------------------------------------------

    \4\ Securities and Exchange Act Release No. 83193 (May 9, 2018), 
83 FR 22539 (May 15, 2018) (SR-NASDAQ-2018-036).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Securities Exchange Act of 1934,\5\ in 
general, and furthers the objectives of Section 6(b)(5) of the Act,\6\ 
in particular, in that it is designed to promote just and equitable 
principles of trade, to remove impediments to and perfect the mechanism 
for a free and open market and a national market system, and, in 
general, to protect investors and the public interest, by providing 
greater transparency to the data feed information offered on NOM. The 
Exchange's proposal to add more detail to both the ITTO and BONO data 
feeds will bring greater transparency to the Exchange's Rules. The 
Exchange believes that the proposed rule change is consistent with the 
protection of investors and the public interest as it provides 
information relating to the data available on the Exchange for the 
benefit of its Members within its Rules and adds greater transparency 
to these offerings. Finally, the amendments seek to add greater clarity 
to the data offerings and conform the text of the offerings across its 
Nasdaq affiliated markets.
---------------------------------------------------------------------------

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

    The Exchange's proposal to correct an inadvertent error within 
Chapter XV, Section 3 will clarify the manner in which OTTO Ports are 
billed today on NOM. The Exchange did not properly carry over the 
description of the OTTO Port Fee, which was $750, per port, per month, 
per mnemonic. The Exchange proposes to correct this error by adding 
``per mnemonic'' back to this fee as it never intended to amend the 
manner in which an OTTO Port was billed. The Exchange believes that 
this correct to the OTTO feed within Chapter XV, Section 3 is 
consistent with the Act and the protection of investors and the public 
interest because it will make clear how OTTO Ports are billed today.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\7\ the Exchange does 
not believe that the proposed rule change will impose any burden on 
intermarket or intra-market competition that is not necessary or 
appropriate in furtherance of the purposes of the Act. The data feed 
offerings are available to any market participant. The Exchange's 
proposal to amend the description of the data offerings will bring 
greater transparency to the Rulebook. The amendments seek to add 
greater clarity to the data

[[Page 28041]]

offerings and conform the text of the offerings. The Exchange's 
proposal to correct an inadvertent error within Chapter XV, Section 3 
will clarify the manner in which OTTO Ports are billed today on NOM. 
All OTTO Ports will continue to be billed in a uniform manner.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the proposed rule change does not: (i) Significantly affect 
the protection of investors or the public interest; (ii) impose any 
significant burden on competition; and (iii) become operative for 30 
days from the date on which it was filed, or such shorter time as the 
Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-
4(f)(6) thereunder.\9\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Exchange to give the Commission written notice the 
Exchange's intent to file the proposed rule change, along with a 
brief description and text of the proposed rule change at least five 
business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission. The 
Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally 
does not become operative for 30 days after the date of filing. 
However, pursuant to Rule 19b-4(f)(6)(iii),\11\ the Commission may 
designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay so that the proposal 
may become operative upon filing. The Exchange states that such waiver 
will allow it to update its rules to provide more detail regarding its 
data offerings and properly reflect the manner in which an OTTO Port is 
currently billed. The Exchange believes this will further the 
protection of investors and the public interest because it will provide 
greater transparency as to the data offerings available to members and 
avoid confusion by correcting an error on its fee schedule. For this 
reason, the Commission believes that waiving the 30-day operative delay 
is consistent with the protection of investors and the public interest 
and, therefore, the Commission designates the proposed rule change to 
be operative upon filing.\12\
---------------------------------------------------------------------------

    \10\ 17 CFR 240.19b-4(f)(6).
    \11\ 17 CFR 240.19b-4(f)(6)(iii).
    \12\ For purposes only of waiving the 30-day operative delay, 
the Commission has also considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act. If the Commission 
takes such action, the Commission shall institute proceedings to 
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic 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-NASDAQ-2018-040 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-NASDAQ-2018-040. This 
file number should be included on the subject line if email is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's internet website (http://www.sec.gov/rules/sro.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to the proposed rule change that are filed with 
the Commission, and all written communications relating to the proposed 
rule change between the Commission and any person, other than those 
that may be withheld from the public in accordance with the provisions 
of 5 U.S.C. 552, will be available for website viewing and printing in 
the Commission's Public Reference Room, 100 F Street NE, Washington, DC 
20549, on official business days between the hours of 10:00 a.m. and 
3:00 p.m. Copies of the filing also will be available for inspection 
and copying at the principal office of the Exchange. All comments 
received will be posted without change. Persons submitting comments are 
cautioned that we do not redact or edit personal identifying 
information from comment submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-NASDAQ-2018-040 and should be submitted 
on or before July 6, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12854 Filed 6-14-18; 8:45 am]
 BILLING CODE 8011-01-P



                                                                                Federal Register / Vol. 83, No. 116 / Friday, June 15, 2018 / Notices                                                  28039

                                                proposed change would result in                         expected to have any impact on                         proposed rule change between the
                                                potentially higher contribution                         competition.                                           Commission and any person, other than
                                                requirements for Clearing Members with                                                                         those that may be withheld from the
                                                                                                        (C) Clearing Agency’s Statement on
                                                large shares of overall margin relative to                                                                     public in accordance with the
                                                                                                        Comments on the Proposed Rule
                                                open interest, which could be the result                                                                       provisions of 5 U.S.C. 552, will be
                                                                                                        Change Received From Members,
                                                of a portfolio that contains directional                                                                       available for website viewing and
                                                                                                        Participants or Others
                                                exposures driving higher margin                                                                                printing in the Commission’s Public
                                                requirements or accounts that have                        Written comments on the proposed                     Reference Room, 100 F Street NE,
                                                significant exposures in futures subject                rule change were not and are not                       Washington, DC 20549, on official
                                                to customer gross margining                             intended to be solicited with respect to               business days between the hours of
                                                requirements. OCC believes that this                    the proposed rule change and none have                 10:00 a.m. and 3:00 p.m. Copies of such
                                                change is prudent from a risk                           been received.                                         filing also will be available for
                                                management perspective as it would                      III. Date of Effectiveness of the                      inspection and copying at the principal
                                                better align each Clearing Member’s                     Proposed Rule Change and Timing for                    office of OCC and on OCC’s website at
                                                contribution requirement with the risk it               Commission Action                                      https://www.theocc.com/components/
                                                presents to OCC by requiring those                                                                             docs/legal/rules_and_bylaws/sr_occ_18_
                                                members that bring elevated levels of                      Within 45 days of the date of                       008.pdf.
                                                risk to contribute more to the Clearing                 publication of this notice in the Federal                 All comments received will be posted
                                                Fund and thereby incentivize those                      Register or within such longer period                  without change. Persons submitting
                                                firms to reduce the risk of their                       up to 90 days (i) as the Commission may                comments are cautioned that we do not
                                                exposures. As a result, OCC believes                    designate if it finds such longer period               redact or edit personal identifying
                                                that any impact on competition would                    to be appropriate and publishes its                    information from comment submissions.
                                                be necessary and appropriate in                         reasons for so finding or (ii) as to which             You should submit only information
                                                furtherance of the purposes of                          the self-regulatory organization                       that you wish to make available
                                                protecting investors and the public                     consents, the Commission will:                         publicly.
                                                interest under the Act.                                    (A) By order approve or disapprove                     All submissions should refer to File
                                                                                                        the proposed rule change, or                           Number SR–OCC–2018–008 and should
                                                   OCC also proposes to modify the
                                                                                                           (B) institute proceedings to determine              be submitted on or before July 6, 2018.
                                                volume component of its Clearing Fund
                                                                                                        whether the proposed rule change
                                                contribution allocation weighting                                                                                For the Commission, by the Division of
                                                                                                        should be disapproved.
                                                methodology to provide that OCC would                                                                          Trading and Markets, pursuant to delegated
                                                use cleared volume, as opposed to                       IV. Solicitation of Comments                           authority.102
                                                executed volume, in allocating Clearing                   Interested persons are invited to                    Eduardo A. Aleman,
                                                Fund contribution requirements. OCC                     submit written data, views and                         Assistant Secretary.
                                                believes that the proposed change also                  arguments concerning the foregoing,                    [FR Doc. 2018–12855 Filed 6–14–18; 8:45 am]
                                                is designed to more appropriately                       including whether the proposed rule                    BILLING CODE 8011–01–P
                                                allocate contribution requirements                      change is consistent with the Act.
                                                commensurate to the risks posed by its                  Comments may be submitted by any of
                                                Clearing Members by basing the volume                   the following methods:                                 SECURITIES AND EXCHANGE
                                                component of the allocation on where                                                                           COMMISSION
                                                the position is ultimately cleared, and                 Electronic Comments
                                                where the risk is ultimately maintained,                  • Use the Commission’s internet                      [Release No. 34–83405; File No. SR–
                                                as opposed to where it was executed.                                                                           NASDAQ–2018–040]
                                                                                                        comment form (http://www.sec.gov/
                                                OCC notes that the Clearing Members                     rules/sro.shtml); or                                   Self-Regulatory Organizations; The
                                                most directly impacted by the proposed                    • Send an email to rule-comments@                    Nasdaq Stock Market LLC; Notice of
                                                change are execution-only Clearing                      sec.gov. Please include File Number SR–                Filing and Immediate Effectiveness of
                                                Members that directly give up trades                    OCC–2018–008 on the subject line.                      Proposed Rule Change To Amend the
                                                through transfers to other Clearing
                                                                                                        Paper Comments                                         Descriptions of Certain Data Feeds
                                                Members and do not to clear or carry
                                                                                                          • Send paper comments in triplicate                  Within the Nasdaq Options Market
                                                positions on a routine basis, and would
                                                therefore generally see reduced                         to Brent J. Fields, Secretary, Securities              June 11, 2018.
                                                contribution requirements due to the                    and Exchange Commission, 100 F Street                     Pursuant to Section 19(b)(1) of the
                                                change from executed volume to cleared                  NE, Washington, DC 20549–1090.                         Securities Exchange Act of 1934 (the
                                                volume. OCC believes the overall                        All submissions should refer to File                   ‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                                impact to non-execution-only Clearing                   Number SR–OCC–2018–008. This file                      notice is hereby given that on May 30,
                                                Members due only to the change to                       number should be included on the                       2018, The Nasdaq Stock Market LLC
                                                cleared volume would be minimal. As a                   subject line if email is used. To help the             (‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
                                                result, OCC does not believe the                        Commission process and review your                     Securities and Exchange Commission
                                                proposed change would have an impact                    comments more efficiently, please use                  (‘‘Commission’’) the proposed rule
                                                or impose a burden on competition.                      only one method. The Commission will                   change as described in Items I and II
                                                   OCC also proposes a number of non-                   post all comments on the Commission’s                  below, which Items have been prepared
                                                material changes, such as relocating                    internet website (http://www.sec.gov/
sradovich on DSK3GMQ082PROD with NOTICES




                                                                                                                                                               by the Exchange. The Commission is
                                                provisions of OCC’s By-Laws                             rules/sro.shtml). Copies of the                        publishing this notice to solicit
                                                concerning the Clearing Fund to its                     submission, all subsequent                             comments on the proposed rule change
                                                Rules, making other clarifying and                      amendments, all written statements                     from interested persons.
                                                conforming changes to its Rules, Policy                 with respect to the proposed rule
                                                and procedures, and clarifying certain                  change that are filed with the                           102 17CFR 200.30–3(a)(12).
                                                pro-cyclicality measures in its existing                Commission, and all written                              1 15 U.S.C. 78s(b)(1).
                                                margin methodology, which are not                       communications relating to the                           2 17 CFR 240.19b–4.




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                                                28040                             Federal Register / Vol. 83, No. 116 / Friday, June 15, 2018 / Notices

                                                I. Self-Regulatory Organization’s                        individual orders on the NOM book, last                2. Statutory Basis
                                                Statement of the Terms of Substance of                   sale information for trades executed on                   The Exchange believes that the
                                                the Proposed Rule Change                                 NOM, and Order Imbalance Information                   proposed rule change is consistent with
                                                   The Exchange proposes to amend the                    as set forth in NOM Rules Chapter VI,                  Section 6(b) of the Securities Exchange
                                                descriptions of certain data feeds within                Section 8.’’ The Exchange proposes to                  Act of 1934,5 in general, and furthers the
                                                the Nasdaq Options Market LLC                            amend this sentence to provide, ‘‘ITTO                 objectives of Section 6(b)(5) of the Act,6
                                                (‘‘NOM’’) Chapter VI, Section 19,                        is a data feed that provides full order                in particular, in that it is designed to
                                                entitled ‘‘Data Feeds and Trade                          and quote depth information for                        promote just and equitable principles of
                                                Information.’’ The Exchange also                         individual orders and quotes on the                    trade, to remove impediments to and
                                                proposes to correct an error within the                  NOM book, last sale information for                    perfect the mechanism for a free and
                                                fee schedule.                                            trades executed on NOM, and Order                      open market and a national market
                                                   The text of the proposed rule change                  Imbalance Information as set forth in                  system, and, in general, to protect
                                                is available on the Exchange’s website at                NOM Rules Chapter VI, Section 8.’’ The                 investors and the public interest, by
                                                http://nasdaq.cchwallstreet.com, at the                  Exchange proposes this language to                     providing greater transparency to the
                                                principal office of the Exchange, and at                 make clear that this data feed has full                data feed information offered on NOM.
                                                the Commission’s Public Reference                        order and quote information and not top                The Exchange’s proposal to add more
                                                Room.                                                    of book information. The Exchange                      detail to both the ITTO and BONO data
                                                                                                         believes this proposed language will                   feeds will bring greater transparency to
                                                II. Self-Regulatory Organization’s                       bring greater clarity to this description.             the Exchange’s Rules. The Exchange
                                                Statement of the Purpose of, and the                     The ITTO feed is not changing.                         believes that the proposed rule change
                                                Statutory Basis for, the Proposed Rule                      Also, today ITTO and BONO have an                   is consistent with the protection of
                                                Change                                                   options symbol directory within those                  investors and the public interest as it
                                                  In its filing with the Commission, the                 data feeds. The Exchange proposes to                   provides information relating to the data
                                                Exchange included statements                             add a sentence to each of those data                   available on the Exchange for the benefit
                                                concerning the purpose of and basis for                  feeds to describe the data provided for                of its Members within its Rules and
                                                the proposed rule change and discussed                   each options series. The data includes                 adds greater transparency to these
                                                any comments it received on the                          the symbol (series and underlying                      offerings. Finally, the amendments seek
                                                proposed rule change. The text of these                  security), put or call indicator,                      to add greater clarity to the data
                                                statements may be examined at the                        expiration date, the strike price of the               offerings and conform the text of the
                                                places specified in Item IV below. The                   series, and whether the option series is               offerings across its Nasdaq affiliated
                                                Exchange has prepared summaries, set                     available for trading on NOM and                       markets.
                                                forth in sections A, B, and C below, of                  identifies if the series is available for                 The Exchange’s proposal to correct an
                                                the most significant aspects of such                     closing transactions only. The Exchange                inadvertent error within Chapter XV,
                                                statements.                                              inadvertently excluded this information                Section 3 will clarify the manner in
                                                                                                         when it originally filed the description               which OTTO Ports are billed today on
                                                A. Self-Regulatory Organization’s                                                                               NOM. The Exchange did not properly
                                                                                                         for these feeds. The Exchange believes
                                                Statement of the Purpose of, and the                                                                            carry over the description of the OTTO
                                                                                                         that adding this language will bring
                                                Statutory Basis for, the Proposed Rule                                                                          Port Fee, which was $750, per port, per
                                                                                                         greater clarity to each of these feeds.
                                                Change                                                                                                          month, per mnemonic. The Exchange
                                                                                                            The Exchange also proposes to
                                                1. Purpose                                                                                                      proposes to correct this error by adding
                                                                                                         replace the word ‘‘Exchange’’ with
                                                                                                                                                                ‘‘per mnemonic’’ back to this fee as it
                                                   The Exchange proposes to amend                        ‘‘NOM’’ in Section 19(a).
                                                                                                                                                                never intended to amend the manner in
                                                Chapter VI, Section 19, entitled ‘‘Data                  Chapter XV, Section 3                                  which an OTTO Port was billed. The
                                                Feeds and Trade Information’’ to further                                                                        Exchange believes that this correct to
                                                detail the type of information available                   The Exchange filed a rule change to                  the OTTO feed within Chapter XV,
                                                on Nasdaq ITCH to Trade Options                          reorganize its port fees.4 The Exchange                Section 3 is consistent with the Act and
                                                (ITTO) or Best of Nasdaq Options                         added a new section 3(i) which                         the protection of investors and the
                                                (BONO) which describes symbol                            included the order and quote protocols                 public interest because it will make
                                                directory information with a more                        are available on NOM. The Exchange                     clear how OTTO Ports are billed today.
                                                specific description of the options                      noted in that rule change that it was not
                                                symbol directory that was recently                       amending any pricing related to the                    B. Self-Regulatory Organization’s
                                                utilized in ISE Rule 718(a).3 The                        protocols, rather the Exchange relocated               Statement on Burden on Competition
                                                Exchange also proposes to correct an                     and reorganized certain fees including                   In accordance with Section 6(b)(8) of
                                                inadvertent omission within Chapter                      the OTTO Port Fee. The Exchange                        the Act,7 the Exchange does not believe
                                                XV, Section 3 pertaining to an options                   relocated the OTTO port fee to section                 that the proposed rule change will
                                                port fee.                                                3(i) and noted the OTTO Port Fee was                   impose any burden on intermarket or
                                                                                                         $750, per port, per month. The                         intra-market competition that is not
                                                Chapter VI, Section 19                                   Exchange did not properly carry over                   necessary or appropriate in furtherance
                                                  The Exchange desires to amend the                      the description of the OTTO Port Fee,                  of the purposes of the Act. The data feed
                                                description of ITTO which currently                      which was $750, per port, per month,                   offerings are available to any market
                                                provides, ‘‘ITTO is a data feed that                     per mnemonic. The Exchange proposes                    participant. The Exchange’s proposal to
sradovich on DSK3GMQ082PROD with NOTICES




                                                provides quotation information for                       to correct this error by adding ‘‘per                  amend the description of the data
                                                                                                         mnemonic’’ back to this fee as it never                offerings will bring greater transparency
                                                   3 The data provided for each options series
                                                                                                         intended to amend the manner in which                  to the Rulebook. The amendments seek
                                                includes the symbols (series and underlying              an OTTO Port was billed.                               to add greater clarity to the data
                                                security), put or call indicator, expiration date, the
                                                strike price of the series, and whether the option
                                                                                                                                                                 5 15 U.S.C. 78f(b).
                                                series is available for trading on ISE and identifies      4 Securities and Exchange Act Release No. 83193
                                                                                                                                                                 6 15 U.S.C. 78f(b)(5).
                                                if the series is available for closing transactions      (May 9, 2018), 83 FR 22539 (May 15, 2018) (SR–
                                                only.                                                    NASDAQ–2018–036).                                       7 15 U.S.C. 78f(b)(8).




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                                                                                Federal Register / Vol. 83, No. 116 / Friday, June 15, 2018 / Notices                                                  28041

                                                offerings and conform the text of the                   30-day operative delay is consistent                   printing in the Commission’s Public
                                                offerings. The Exchange’s proposal to                   with the protection of investors and the               Reference Room, 100 F Street NE,
                                                correct an inadvertent error within                     public interest and, therefore, the                    Washington, DC 20549, on official
                                                Chapter XV, Section 3 will clarify the                  Commission designates the proposed                     business days between the hours of
                                                manner in which OTTO Ports are billed                   rule change to be operative upon                       10:00 a.m. and 3:00 p.m. Copies of the
                                                today on NOM. All OTTO Ports will                       filing.12                                              filing also will be available for
                                                continue to be billed in a uniform                         At any time within 60 days of the                   inspection and copying at the principal
                                                manner.                                                 filing of the proposed rule change, the                office of the Exchange. All comments
                                                                                                        Commission summarily may                               received will be posted without change.
                                                C. Self-Regulatory Organization’s                       temporarily suspend such rule change if
                                                Statement on Comments on the                                                                                   Persons submitting comments are
                                                                                                        it appears to the Commission that such                 cautioned that we do not redact or edit
                                                Proposed Rule Change Received From                      action is necessary or appropriate in the
                                                Members, Participants, or Others                                                                               personal identifying information from
                                                                                                        public interest, for the protection of                 comment submissions. You should
                                                  No written comments were either                       investors, or otherwise in furtherance of              submit only information that you wish
                                                solicited or received.                                  the purposes of the Act. If the                        to make available publicly. All
                                                III. Date of Effectiveness of the                       Commission takes such action, the                      submissions should refer to File
                                                Proposed Rule Change and Timing for                     Commission shall institute proceedings                 Number SR–NASDAQ–2018–040 and
                                                Commission Action                                       to determine whether the proposed rule                 should be submitted on or before July 6,
                                                                                                        should be approved or disapproved.                     2018.
                                                   Because the proposed rule change
                                                does not: (i) Significantly affect the                  IV. Solicitation of Comments                             For the Commission, by the Division of
                                                protection of investors or the public                     Interested persons are invited to                    Trading and Markets, pursuant to delegated
                                                interest; (ii) impose any significant                   submit written data, views, and                        authority.13
                                                burden on competition; and (iii) become                 arguments concerning the foregoing,                    Eduardo A. Aleman,
                                                operative for 30 days from the date on                  including whether the proposed rule                    Assistant Secretary.
                                                which it was filed, or such shorter time                change is consistent with the Act.
                                                                                                                                                               [FR Doc. 2018–12854 Filed 6–14–18; 8:45 am]
                                                as the Commission may designate, if                     Comments may be submitted by any of
                                                consistent with the protection of                       the following methods:                                 BILLING CODE 8011–01–P

                                                investors and the public interest, the
                                                proposed rule change has become                         Electronic Comments
                                                effective pursuant to Section 19(b)(3)(A)                 • Use the Commission’s internet                      SECURITIES AND EXCHANGE
                                                of the Act 8 and Rule 19b–4(f)(6)                       comment form (http://www.sec.gov/                      COMMISSION
                                                thereunder.9                                            rules/sro.shtml); or
                                                   A proposed rule change filed under                     • Send an email to rule-comments@                    [Release No. 34–83402; File No. SR–
                                                Rule 19b–4(f)(6) 10 normally does not                   sec.gov. Please include File Number SR–                NYSEAMER–2018–23]
                                                become operative for 30 days after the                  NASDAQ–2018–040 on the subject line.
                                                date of filing. However, pursuant to                                                                           Self-Regulatory Organizations; NYSE
                                                                                                        Paper Comments
                                                Rule 19b–4(f)(6)(iii),11 the Commission                                                                        American LLC; Notice of Filing and
                                                may designate a shorter time if such                       • Send paper comments in triplicate                 Immediate Effectiveness of Proposed
                                                action is consistent with the protection                to Secretary, Securities and Exchange                  Change To Amend the NYSE American
                                                of investors and the public interest. The               Commission, 100 F Street NE,                           Equities Price List and the NYSE
                                                Exchange has asked the Commission to                    Washington, DC 20549–1090.                             American Options Fee Schedule
                                                waive the 30-day operative delay so that                All submissions should refer to File                   Related to Co-Location Services in
                                                the proposal may become operative                       Number SR–NASDAQ–2018–040. This                        Connection With the Re-Launch of
                                                upon filing. The Exchange states that                   file number should be included on the                  Trading on NYSE National, Inc. and
                                                such waiver will allow it to update its                 subject line if email is used. To help the             Proposed NYSE National Co-Location
                                                rules to provide more detail regarding                  Commission process and review your                     Services
                                                its data offerings and properly reflect                 comments more efficiently, please use
                                                the manner in which an OTTO Port is                     only one method. The Commission will                   June 11, 2018.
                                                currently billed. The Exchange believes                 post all comments on the Commission’s                     Pursuant to Section 19(b)(1) 1 of the
                                                this will further the protection of                     internet website (http://www.sec.gov/                  Securities Exchange Act of 1934 (the
                                                investors and the public interest                       rules/sro.shtml). Copies of the                        ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
                                                because it will provide greater                         submission, all subsequent                             notice is hereby given that, on May 30,
                                                transparency as to the data offerings                   amendments, all written statements                     2018, NYSE American LLC (the
                                                available to members and avoid                          with respect to the proposed rule                      ‘‘Exchange’’ or ‘‘NYSE American’’) filed
                                                confusion by correcting an error on its                 change that are filed with the                         with the Securities and Exchange
                                                fee schedule. For this reason, the                      Commission, and all written                            Commission (the ‘‘Commission’’) the
                                                Commission believes that waiving the                    communications relating to the                         proposed rule change as described in
                                                                                                        proposed rule change between the                       Items I and II below, which Items have
                                                  8 15  U.S.C. 78s(b)(3)(A).                            Commission and any person, other than                  been prepared by the self-regulatory
                                                  9 17  CFR 240.19b–4(f)(6). In addition, Rule 19b–     those that may be withheld from the                    organization. The Commission is
                                                4(f)(6)(iii) requires the Exchange to give the          public in accordance with the
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                                                Commission written notice the Exchange’s intent to                                                             publishing this notice to solicit
                                                file the proposed rule change, along with a brief       provisions of 5 U.S.C. 552, will be                    comments on the proposed rule change
                                                description and text of the proposed rule change at     available for website viewing and                      from interested persons.
                                                least five business days prior to the date of filing
                                                of the proposed rule change, or such shorter time          12 For purposes only of waiving the 30-day
                                                                                                                                                                 13 17 CFR 200.30–3(a)(12).
                                                as designated by the Commission. The Exchange           operative delay, the Commission has also
                                                has satisfied this requirement.                         considered the proposed rule’s impact on
                                                                                                                                                                 1 15 U.S.C. 78s(b)(1).
                                                   10 17 CFR 240.19b–4(f)(6).                                                                                    2 15 U.S.C. 78a.
                                                                                                        efficiency, competition, and capital formation. See
                                                   11 17 CFR 240.19b–4(f)(6)(iii).                      15 U.S.C. 78c(f).                                        3 17 CFR 240.19b–4.




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Document Created: 2018-11-02 12:00:46
Document Modified: 2018-11-02 12:00:46
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 28039 

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