83 FR 31203 - Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot Period for the Retail Price Improvement Program Until December 31, 2018
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 128 (July 3, 2018)
Federal Register Volume 83, Issue 128 (July 3, 2018)
| Page Range | 31203-31205 | |
| FR Document | 2018-14284 |
[Federal Register Volume 83, Number 128 (Tuesday, July 3, 2018)] [Notices] [Pages 31203-31205] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-14284] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83539; File No. SR-BX-2018-026] Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot Period for the Retail Price Improvement Program Until December 31, 2018 June 28, 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 June 21, 2018, Nasdaq BX, Inc. (``BX'' or ``Exchange''), filed with the Securities and Exchange Commission (``SEC'' or ``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 extend the pilot period for the Exchange's Retail Price Improvement (``RPI'') Program (the ``Program''), which is set to expire on June 30, 2018, for an additional period, to expire on December 31, 2018. The Exchange has designated July 1, 2018 as the date the proposed rule change becomes effective. The text of the proposed rule change is available on the Exchange's website at http://nasdaqbx.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 purpose of this filing is to extend the pilot period of the RPI Program,\3\ currently scheduled to expire on June 30, 2018, for an additional period, to expire on December 31, 2018. --------------------------------------------------------------------------- \3\ Securities Exchange Act Release No. 73702 (November 28, 2014), 79 FR 72049 (December 4, 2014) (``RPI Approval Order'') (SR- BX-2014-048). --------------------------------------------------------------------------- Background In November 2014, the Commission approved the RPI Program on a pilot basis.\4\ The Program is designed to attract retail order flow to the Exchange, and allow such order flow to receive potential price improvement. The Program is currently limited to trades occurring at prices equal to or greater than $1.00 per share. Under the Program, a new class of market participant called a Retail Member [[Page 31204]] Organization (``RMO'') is eligible to submit certain retail order flow (``Retail Orders'') \5\ to the Exchange. BX members (``Members'') are permitted to provide potential price improvement for Retail Orders in the form of non-displayed interest that is priced more aggressively than the Protected National Best Bid or Offer (``Protected NBBO'').\6\ --------------------------------------------------------------------------- \4\ See id. \5\ A ``Retail Order'' is defined in BX Rule 4780(a)(2) by referencing BX Rule 4702, and BX Rule 4702(b)(6) says it is an order type with a non-display order attribute submitted to the Exchange by a RMO. A Retail Order must be an agency order, or riskless principal order that satisfies the criteria of FINRA Rule 5320.03. The Retail Order must reflect trading interest of a natural person with no change made to the terms of the underlying order of the natural person with respect to price (except in the case of a market order that is changed to a marketable limit order) or side of market and that does not originate from a trading algorithm or any other computerized methodology. \6\ The term Protected Quotation is defined in Chapter XII, Sec. 1(19) and has the same meaning as is set forth in Regulation NMS Rule 600(b)(58). The Protected NBBO is the best-priced protected bid and offer. Generally, the Protected NBBO and the national best bid and offer (``NBBO'') will be the same. However, a market center is not required to route to the NBBO if that market center is subject to an exception under Regulation NMS Rule 611(b)(1) or if such NBBO is otherwise not available for an automatic execution. In such case, the Protected NBBO would be the best-priced protected bid or offer to which a market center must route interest pursuant to Regulation NMS Rule 611. --------------------------------------------------------------------------- The Program was approved by the Commission on a pilot basis running one-year from the date of implementation.\7\ The Commission approved the Program on November 28, 2014.\8\ The Exchange implemented the Program on December 1, 2014 and the pilot has since been extended for a one year period twice and for an additional six month period with it now scheduled to end on June 30, 2018.\9\ --------------------------------------------------------------------------- \7\ See RPI Approval Order, supra note 3 at 72053. \8\ Id. at 72049. \9\ See Securities Exchange Act Release No. 76490 (November 20, 2015), 80 FR 74165 (November 27, 2015) (SR-BX-2015-073); Securities Exchange Act Release No. 79446 (December 1, 2016), 81 FR 88290 (December 7, 2016) (SR-BX-2016-065); Securities Exchange Act Release No. 82192 (December 1, 2017), 82 FR 57809 (December 7, 2017) (SR-BX- 2017-055). --------------------------------------------------------------------------- Proposal To Extend the Operation of the Program The Exchange established the RPI Program in an attempt to attract retail order flow to the Exchange by potentially providing price improvement to such order flow. The Exchange believes that the Program promotes competition for retail order flow by allowing Exchange members to submit Retail Price Improvement Orders (``RPI Orders'') \10\ to interact with Retail Orders. Such competition has the ability to promote efficiency by facilitating the price discovery process and generating additional investor interest in trading securities, thereby promoting capital formation. The Exchange believes that extending the pilot is appropriate because it will allow the Exchange and the Commission additional time to analyze data regarding the Program that the Exchange has committed to provide.\11\ As such, the Exchange believes that it is appropriate to extend the current operation of the Program.\12\ Through this filing, the Exchange seeks to amend BX Rule 4780(h) \13\ and extend the current pilot period of the Program until the earlier of approval of the filing to make the Program permanent or December 31, 2018. --------------------------------------------------------------------------- \10\ A Retail Price Improvement Order is defined in BX Rule 4780(a)(3) by referencing BX Rule 4702 and BX Rule 4702(b)(5) says that it is as an order type with a non-display order attribute that is held on the Exchange Book in order to provide liquidity at a price at least $0.001 better than the NBBO through a special execution process described in Rule 4780. \11\ See RPI Approval Order, supra note 3 at 72051. \12\ Concurrently with this filing, the Exchange has submitted a request for an extension of the exemption under Regulation NMS Rule 612 previously granted by the Commission that permits it to accept and rank the RPI orders in sub-penny increments. See Letter from Jeffrey S. Davis, Vice President and Deputy General Counsel and Secretary, Nasdaq BX, Inc. to Eduardo A. Aleman, Assistant Secretary, Securities and Exchange Commission dated June 21, 2018. \13\ The Exchange notes that the proposed amendment to BX Rule 4780(h) would amend the current version of BX Rule 4780(h), which the Exchange also proposes to amend as part of the Exchange's filing to make BX Rule 4780(h) permanent. See SR-BX-2018-025. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,\14\ in general, and with Section 6(b)(5) of the Act,\15\ in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f. \15\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that extending the pilot period for the RPI Program is consistent with these principles because the Program is reasonably designed to attract retail order flow to the exchange environment, while helping to ensure that retail investors benefit from the better price that liquidity providers are willing to give their orders. Additionally, as previously stated, the competition promoted by the Program may facilitate the price discovery process and potentially generate additional investor interest in trading securities. The extension of the pilot period will allow the Commission and the Exchange to continue to monitor the Program for its potential effects on public price discovery, and on the broader market structure. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. The proposed rule change extends an established pilot program for an additional period, to expire on December 31, 2018, thus allowing the RPI Program to enhance competition for retail order flow and contribute to the public price discovery process. 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 The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \16\ and Rule 19b-4(f)(6) thereunder.\17\ 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 \18\ and Rule 19b- 4(f)(6) thereunder.\19\ --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A)(iii). \17\ 17 CFR 240.19b-4(f)(6). \18\ 15 U.S.C. 78s(b)(3)(A). \19\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \20\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\21\ 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 proposed rule change may become operative immediately. The Commission believes that waiving the 30-day operative delay is consistent with the protection of [[Page 31205]] investors and the public interest, because waiver would allow the pilot period to continue uninterrupted after its current expiration date of June 30, 2018, thereby avoiding any potential investor confusion that could result from temporary interruption in the Program. For this reason, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.\22\ --------------------------------------------------------------------------- \20\ 17 CFR 240.19b-4(f)(6). \21\ 17 CFR 240.19b-4(f)(6)(iii). \22\ For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange did not provide this notice, and it has requested that the Commission waive the requirement for this proposed rule change in order to allow the Program to continue uninterrupted. The Exchange asserts this would benefit market participants and help to eliminate the potential for investor confusion. For the same reasons stated above with regard to the Commission's waiver of the 30-day operative delay, the Commission permits this proposed rule change to be filed without advanced written notice of the Exchange's intent to file. --------------------------------------------------------------------------- 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 change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-BX-2018-026 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-BX-2018-026. 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 offices 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-BX-2018-026, and should be submitted on or before July 24, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\23\ --------------------------------------------------------------------------- \23\ 17 CFR 200.30-3(a)(12), (59). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-14284 Filed 7-2-18; 8:45 am] BILLING CODE 8011-01-P
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with CBOE by offering a firm internet website (http://www.sec.gov/ by the Exchange. The Commission is
participation allocation with the same rules/sro.shtml). Copies of the publishing this notice to solicit
eligibility size that CBOE currently submission, all subsequent comments on the proposed rule change
offers. Additionally, the Commission amendments, all written statements from interested persons.
notes that the proposed rule change is with respect to the proposed rule
change that are filed with the I. Self-Regulatory Organization’s
based on the current rules of CBOE 17
Commission, and all written Statement of the Terms of Substance of
and that it recently approved a similar
communications relating to the the Proposed Rule Change
rule change for the BOX Options
Exchange LLC.18 As such, the proposed rule change between the The Exchange proposes to extend the
Commission believes that waiving the Commission and any person, other than pilot period for the Exchange’s Retail
30-day operative delay is consistent those that may be withheld from the Price Improvement (‘‘RPI’’) Program (the
with the protection of investors and the public in accordance with the ‘‘Program’’), which is set to expire on
public interest. Accordingly, the provisions of 5 U.S.C. 552, will be June 30, 2018, for an additional period,
Commission waives the 30-day available for website viewing and to expire on December 31, 2018.
operative delay and designates the printing in the Commission’s Public The Exchange has designated July 1,
proposed rule change operative upon Reference Room, 100 F Street NE, 2018 as the date the proposed rule
filing.19 Washington, DC 20549, on official change becomes effective.
At any time within 60 days of the business days between the hours of The text of the proposed rule change
filing of the proposed rule change, the 10:00 a.m. and 3:00 p.m. Copies of the is available on the Exchange’s website at
Commission summarily may filing also will be available for http://nasdaqbx.cchwallstreet.com/, at
temporarily suspend such rule change if inspection and copying at the principal the principal office of the Exchange, and
it appears to the Commission that such office of the Exchange. All comments at the Commission’s Public Reference
action is: (i) Necessary or appropriate in received will be posted without change. Room.
the public interest; (ii) for the protection Persons submitting comments are II. Self-Regulatory Organization’s
of investors; or (iii) otherwise in cautioned that we do not redact or edit
Statement of the Purpose of, and
furtherance of the purposes of the Act. personal identifying information from
Statutory Basis for, the Proposed Rule
If the Commission takes such action, the comment submissions. You should
Change
Commission shall institute proceedings submit only information that you wish
to determine whether the proposed rule to make available publicly. All In its filing with the Commission, the
should be approved or disapproved. submissions should refer to File Exchange included statements
Number SR–Phlx–2018–48 and should concerning the purpose of and basis for
IV. Solicitation of Comments be submitted on or before July 24, 2018. the proposed rule change and discussed
Interested persons are invited to For the Commission, by the Division of
any comments it received on the
submit written data, views, and Trading and Markets, pursuant to delegated proposed rule change. The text of these
arguments concerning the foregoing, authority.20 statements may be examined at the
including whether the proposed rule Eduardo A. Aleman, places specified in Item IV below. The
change is consistent with the Act. Assistant Secretary. Exchange has prepared summaries, set
Comments may be submitted by any of [FR Doc. 2018–14301 Filed 7–2–18; 8:45 am]
forth in sections A, B, and C below, of
the following methods: the most significant aspects of such
BILLING CODE 8011–01–P
statements.
Electronic Comments
A. Self-Regulatory Organization’s
• Use the Commission’s internet SECURITIES AND EXCHANGE Statement of the Purpose of, and
comment form (http://www.sec.gov/ COMMISSION Statutory Basis for, the Proposed Rule
rules/sro.shtml); or
• Send an email to rule-comments@ [Release No. 34–83539; File No. SR–BX– Change
sec.gov. Please include File Number SR– 2018–026] 1. Purpose
Phlx–2018–48 on the subject line. The purpose of this filing is to extend
Self-Regulatory Organizations; Nasdaq
Paper Comments BX, Inc.; Notice of Filing and the pilot period of the RPI Program,3
• Send paper comments in triplicate Immediate Effectiveness of Proposed currently scheduled to expire on June
to Secretary, Securities and Exchange Rule Change To Extend the Pilot 30, 2018, for an additional period, to
Commission, 100 F Street NE, Period for the Retail Price expire on December 31, 2018.
Washington, DC 20549–1090. Improvement Program Until December
Background
31, 2018
All submissions should refer to File In November 2014, the Commission
Number SR–Phlx–2018–48. This file June 28, 2018. approved the RPI Program on a pilot
number should be included on the Pursuant to Section 19(b)(1) of the basis.4 The Program is designed to
subject line if email is used. To help the Securities Exchange Act of 1934 attract retail order flow to the Exchange,
Commission process and review your (‘‘Act’’),1 and Rule 19b–4 thereunder,2 and allow such order flow to receive
comments more efficiently, please use notice is hereby given that on June 21, potential price improvement. The
only one method. The Commission will 2018, Nasdaq BX, Inc. (‘‘BX’’ or Program is currently limited to trades
post all comments on the Commission’s ‘‘Exchange’’), filed with the Securities occurring at prices equal to or greater
sradovich on DSK3GMQ082PROD with NOTICES
and Exchange Commission (‘‘SEC’’ or than $1.00 per share. Under the
17 See supra note 4. ‘‘Commission’’) the proposed rule Program, a new class of market
18 See Securities Exchange Act Release No. 82456 change as described in Items I and II participant called a Retail Member
(January, 8, 2008), 83 FR 1651 (January 12, 2018)
(SR–BOX–2017–33) (Approval Order).
below, which Items have been prepared
19 For purposes only of waiving the 30-day 3 Securities Exchange Act Release No. 73702
20 17 CFR 200.30–3(a)(12).
operative delay, the Commission has considered the (November 28, 2014), 79 FR 72049 (December 4,
1 15 U.S.C. 78s(b)(1). 2014) (‘‘RPI Approval Order’’) (SR–BX–2014–048).
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. 4 See id.
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![Federal Register / Vol. 83, No. 128 / Tuesday, July 3, 2018 / Notices 31205
investors and the public interest, number should be included on the The General Counsel of the
because waiver would allow the pilot subject line if email is used. To help the Commission, or his designee, has
period to continue uninterrupted after Commission process and review your certified that, in his opinion, one or
its current expiration date of June 30, comments more efficiently, please use more of the exemptions set forth in 5
2018, thereby avoiding any potential only one method. The Commission will U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B)
investor confusion that could result post all comments on the Commission’s and (10) and 17 CFR 200.402(a)(3),
from temporary interruption in the internet website (http://www.sec.gov/ (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and
Program. For this reason, the rules/sro.shtml). Copies of the (a)(10), permit consideration of the
Commission hereby waives the 30-day submission, all subsequent scheduled matters at the closed meeting.
operative delay and designates the amendments, all written statements Commissioner Stein, as duty officer,
proposal operative upon filing.22 with respect to the proposed rule voted to consider the items listed for the
At any time within 60 days of the change that are filed with the closed meeting in closed session.
filing of the proposed rule change, the Commission, and all written The subject matters of the closed
Commission summarily may communications relating to the meeting will be:
temporarily suspend such rule change if proposed rule change between the Institution and settlement of
it appears to the Commission that such Commission and any person, other than
action is necessary or appropriate in the injunctive actions;
those that may be withheld from the Institution and settlement of
public interest, for the protection of public in accordance with the
investors, or otherwise in furtherance of administrative proceedings;
provisions of 5 U.S.C. 552, will be
the purposes of the Act. If the Resolution of litigation claims; and
available for website viewing and
Commission takes such action, the printing in the Commission’s Public Other matters relating to enforcement
Commission shall institute proceedings Reference Room, 100 F Street NE, proceedings.
to determine whether the proposed rule Washington, DC 20549 on official At times, changes in Commission
change should be approved or business days between the hours of priorities require alterations in the
disapproved. 10:00 a.m. and 3:00 p.m. Copies of the scheduling of meeting items.
IV. Solicitation of Comments filing also will be available for CONTACT PERSON FOR MORE INFORMATION:
inspection and copying at the principal For further information and to ascertain
Interested persons are invited to
offices of the Exchange. All comments what, if any, matters have been added,
submit written data, views, and
received will be posted without change. deleted or postponed; please contact
arguments concerning the foregoing,
Persons submitting comments are Brent J. Fields from the Office of the
including whether the proposed rule
cautioned that we do not redact or edit Secretary at (202) 551–5400.
change is consistent with the Act.
Comments may be submitted by any of personal identifying information from Dated: June 28, 2018.
the following methods: comment submissions. You should Brent J. Fields,
submit only information that you wish
Electronic Comments Secretary.
to make available publicly. All
[FR Doc. 2018–14392 Filed 6–29–18; 11:15 am]
• Use the Commission’s internet submissions should refer to File
Number SR–BX–2018–026, and should BILLING CODE 8011–01–P
comment form (http://www.sec.gov/
rules/sro.shtml); or be submitted on or before July 24, 2018.
• Send an email to rule-comments@ For the Commission, by the Division of SECURITIES AND EXCHANGE
sec.gov. Please include File Number SR– Trading and Markets, pursuant to delegated COMMISSION
BX–2018–026 on the subject line. authority.23
Paper Comments Eduardo A. Aleman,
[Release No. 34–83532; File No. SR–
Assistant Secretary.
• Send paper comments in triplicate NYSEAMER–2018–32]
[FR Doc. 2018–14284 Filed 7–2–18; 8:45 am]
to Secretary, Securities and Exchange
Commission, 100 F Street NE, BILLING CODE 8011–01–P Self-Regulatory Organizations; NYSE
Washington, DC 20549–1090. American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
All submissions should refer to File SECURITIES AND EXCHANGE Change To Modify the NYSE American
Number SR–BX–2018–026. This file COMMISSION Options Fee Schedule
22 For purposes only of waiving the 30-day
Sunshine Act Meetings June 28, 2018.
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition, Pursuant to Section 19(b)(1) 1 of the
and capital formation. See 15 U.S.C. 78c(f). In TIME AND DATE: 2:00 p.m. on Thursday, Securities Exchange Act of 1934 (the
addition, Rule 19b–4(f)(6)(iii) requires the Exchange July 5, 2018. ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
to give the Commission written notice of the
Exchange’s intent to file the proposed rule change, PLACE: Closed Commission Hearing, notice is hereby given that, on June 20,
along with a brief description and text of the Room 10800. 2018, NYSE American LLC (the
proposed rule change, at least five business days ‘‘Exchange’’ or ‘‘NYSE American’’) filed
prior to the date of filing of the proposed rule STATUS: This meeting will be closed to
with the Securities and Exchange
change, or such shorter time as designated by the the public.
Commission. The Exchange did not provide this Commission (the ‘‘Commission’’) the
notice, and it has requested that the Commission MATTERS TO BE CONSIDERED: proposed rule change as described in
waive the requirement for this proposed rule Commissioners, Counsel to the
sradovich on DSK3GMQ082PROD with NOTICES
Items I, II, and III below, which Items
change in order to allow the Program to continue Commissioners, the Secretary to the
uninterrupted. The Exchange asserts this would
have been prepared by the self-
benefit market participants and help to eliminate Commission, and recording secretaries regulatory organization. The
the potential for investor confusion. For the same will attend the closed meeting. Certain Commission is publishing this notice to
reasons stated above with regard to the staff members who have an interest in
Commission’s waiver of the 30-day operative delay, the matters also may be present. 1 15 U.S.C.78s(b)(1).
the Commission permits this proposed rule change
2 15 U.S.C. 78a.
to be filed without advanced written notice of the
Exchange’s intent to file. 23 17 CFR 200.30–3(a)(12), (59). 3 17 CFR 240.19b–4.
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Document Created: 2018-07-02 23:55:51
Document Modified: 2018-07-02 23:55:51
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 83 FR 31203 |
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