83 FR 31227 - Self-Regulatory Organizations; Nasdaq Phlx LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Exchange's Penny Pilot Program
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 128 (July 3, 2018)
Federal Register Volume 83, Issue 128 (July 3, 2018)
| Page Range | 31227-31229 | |
| FR Document | 2018-14291 |
[Federal Register Volume 83, Number 128 (Tuesday, July 3, 2018)] [Notices] [Pages 31227-31229] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-14291] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83530; File No. SR-Phlx-2018-50] Self-Regulatory Organizations; Nasdaq Phlx LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Exchange's Penny Pilot Program 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 25, 2018, Nasdaq Phlx LLC (``Phlx'' 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 amend Phlx Rule 1034 (Minimum Increments) \3\ to extend through December 31, 2018 or the date of permanent approval, if earlier, the Penny Pilot Program in options classes in certain issues (``Penny Pilot'' or ``Pilot''), and to change the date when delisted classes may be replaced in the Penny Pilot. --------------------------------------------------------------------------- \3\ References herein to rules refer to rules of Phlx, unless otherwise noted. --------------------------------------------------------------------------- The text of the proposed rule change is set forth below. Proposed new language is italicized and proposed deleted language is in brackets. * * * * * Nasdaq PHLX Rules Options Rules * * * * * Rule 1034. Minimum Increments (a) Except as provided in sub-paragraphs (i)(B) and (iii) below, all options on stocks, index options, and Exchange Traded Fund Shares quoting in decimals at $3.00 or higher shall have a minimum increment of $.10, and all options on stocks and index options quoting in decimals under $3.00 shall have a minimum increment of $.05. (i)(A) No Change. (B) For a pilot period scheduled to expire [June 30, 2018]December 31, 2018 or the date of permanent approval, if earlier (the ``pilot''), certain options shall be quoted and traded on the Exchange in minimum increments of $0.01 for all series in such options with a price of less than $3.00, and in minimum increments of $0.05 for all series in such options with a price of $3.00 or higher, except that options overlying the PowerShares QQQ Trust (``QQQQ'')[supreg], SPDR S&P 500 Exchange Traded Funds (``SPY''), and iShares Russell 2000 Index Funds (``IWM'') shall be quoted and traded in minimum increments of $0.01 for all series regardless of the price. A list of such options shall be communicated to membership via an Options Trader Alert (``OTA'') posted on the Exchange's website. The Exchange may replace any pilot issues that have been delisted with the next most actively traded multiply listed options classes that are not yet included in the pilot, based on trading activity in the previous six months. The replacement issues may be added to the pilot on the second trading day following [January 1, 2018]July 1, 2018. (C) No Change. [[Page 31228]] (ii)-(v) No Change. * * * * * The text of the proposed rule change is also available on the Exchange's website at http://nasdaqomxphlx.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 amend Phlx Rule 1034 to extend the Penny Pilot through December 31, 2018 or the date of permanent approval, if earlier,\4\ and to change the date when delisted classes may be replaced in the Penny Pilot. The Exchange believes that extending the Penny Pilot will allow for further analysis of the Penny Pilot and a determination of how the program should be structured in the future. --------------------------------------------------------------------------- \4\ The options exchanges in the U.S. that have pilot programs similar to the Penny Pilot (together ``pilot programs'') are currently working on a proposal for permanent approval of the respective pilot programs. --------------------------------------------------------------------------- Under the Penny Pilot, the minimum price variation for all participating options classes, except for the Nasdaq-100 Index Tracking Stock (``QQQQ''), the SPDR S&P 500 Exchange Traded Fund (``SPY'') and the iShares Russell 2000 Index Fund (``IWM''), is $0.01 for all quotations in options series that are quoted at less than $3 per contract and $0.05 for all quotations in options series that are quoted at $3 per contract or greater. QQQQ, SPY and IWM are quoted in $0.01 increments for all options series. The Penny Pilot is currently scheduled to expire on June 30, 2018.\5\ --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 82370 (December 20, 2017), 82 FR 61351 (December 27, 2017) (SR-Phlx-2017-104). --------------------------------------------------------------------------- The Exchange proposes to extend the time period of the Penny Pilot through December 31, 2018 or the date of permanent approval, if earlier, and to provide a revised date for adding replacement issues to the Penny Pilot. The Exchange proposes that any Penny Pilot Program issues that have been delisted may be replaced on the second trading day following July 1, 2018. The replacement issues will be selected based on trading activity in the previous six months.\6\ --------------------------------------------------------------------------- \6\ The replacement issues will be announced to the Exchange's membership via an Options Trader Alert (OTA) posted on the Exchange's website. Penny Pilot replacement issues will be selected based on trading activity in the previous six months, as is the case today. The replacement issues would be identified based on The Options Clearing Corporation's trading volume data. For example, for the July replacement, trading volume from December 1, 2017 through May 31, 2018 would be analyzed. The month immediately preceding the replacement issues' addition to the Pilot Program (i.e., June) would not be used for purposes of the six-month analysis. --------------------------------------------------------------------------- This filing does not propose any substantive changes to the Penny Pilot Program; all classes currently participating in the Penny Pilot will remain the same and all minimum increments will remain unchanged. The Exchange believes the benefits to public customers and other market participants who will be able to express their true prices to buy and sell options have been demonstrated to outweigh the potential increase in quote traffic. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\7\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\8\ in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and 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. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the proposed rule change, which extends the Penny Pilot for an additional six months through December 31, 2018 or the date of permanent approval, if earlier, and changes the date for replacing Penny Pilot issues that were delisted to the second trading day following July 1, 2018, will enable public customers and other market participants to express their true prices to buy and sell options for the benefit of all market participants. This is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, this proposal is pro-competitive because it allows Penny Pilot issues to continue trading on the Exchange. Moreover, the Exchange believes that the proposed rule change will allow for further analysis of the Pilot and a determination of how the Pilot should be structured in the future; and will serve to promote regulatory clarity and consistency, thereby reducing burdens on the marketplace and facilitating investor protection. The Pilot is an industry-wide initiative supported by all other option exchanges. The Exchange believes that extending the Pilot will allow for continued competition between market participants on the Exchange trading similar products as their counterparts on other exchanges, while at the same time allowing the Exchange to continue to compete for order flow with other exchanges in option issues trading as part of the Pilot. 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 \9\ and Rule 19b-4(f)(6) thereunder.\10\ 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 prior to 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 and Rule 19b- 4(f)(6)(iii) thereunder. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A)(iii). \10\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally does not become operative prior to 30 days after [[Page 31229]] the date of the filing.\12\ However, pursuant to Rule 19b- 4(f)(6)(iii),\13\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because doing so will allow the Pilot Program to continue without interruption in a manner that is consistent with the Commission's prior approval of the extension and expansion of the Pilot Program and will allow the Exchange and the Commission additional time to analyze the impact of the Pilot Program.\14\ Accordingly, the Commission designates the proposed rule change as operative upon filing with the Commission.\15\ --------------------------------------------------------------------------- \11\ 17 CFR 240.19b-4(f)(6). \12\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change along with a brief description and the 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 pre-filing requirement. \13\ 17 CFR 240.19b-4(f)(6)(iii). \14\ See Securities Exchange Act Release No. 61061 (November 24, 2009), 74 FR 62857 (December 1, 2009) (SR-NYSEArca-2009-44). \15\ For purposes only of waiving the operative delay for this proposal, the Commission has 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 such 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 under Section 19(b)(2)(B) \16\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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-Phlx-2018-50 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-Phlx-2018-50. 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-Phlx-2018-50 and should be submitted on or before July 24, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-14291 Filed 7-2-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 128 / Tuesday, July 3, 2018 / Notices 31227
operational requirements mentioned those that may be withheld from the I. Self-Regulatory Organization’s
above. public in accordance with the Statement of the Terms of Substance of
provisions of 5 U.S.C. 552, will be the Proposed Rule Change
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule available for website viewing and The Exchange proposes to amend
Change Received From Members, printing in the Commission’s Public Phlx Rule 1034 (Minimum Increments) 3
Participants, or Others Reference Room, 100 F Street NE, to extend through December 31, 2018 or
Washington, DC 20549 on official the date of permanent approval, if
DTC has not received or solicited any
business days between the hours of earlier, the Penny Pilot Program in
written comments relating to this
10:00 a.m. and 3:00 p.m. Copies of the options classes in certain issues (‘‘Penny
proposal. DTC will notify the
filing also will be available for Pilot’’ or ‘‘Pilot’’), and to change the
Commission of any written comments
inspection and copying at the principal date when delisted classes may be
received by DTC.
office of DTC and on DTCC’s website replaced in the Penny Pilot.
III. Date of Effectiveness of the (http://dtcc.com/legal/sec-rule- The text of the proposed rule change
Proposed Rule Change, and Timing for filings.aspx). All comments received is set forth below. Proposed new
Commission Action will be posted without change. Persons language is italicized and proposed
The foregoing rule change has become submitting comments are cautioned that deleted language is in brackets.
effective pursuant to Section 19(b)(3)(A) we do not redact or edit personal * * * * *
of the Act and paragraph (f) of Rule identifying information from comment Nasdaq PHLX Rules
19b–4 thereunder. At any time within submissions. You should submit only
60 days of the filing of the proposed rule information that you wish to make Options Rules
change, the Commission summarily may available publicly. All submissions * * * * *
temporarily suspend such rule change if should refer to File Number SR–DTC–
it appears to the Commission that such Rule 1034. Minimum Increments
2018–002 and should be submitted on
action is necessary or appropriate in the or before July 24, 2018. (a) Except as provided in sub-
public interest, for the protection of paragraphs (i)(B) and (iii) below, all
investors, or otherwise in furtherance of For the Commission, by the Division of options on stocks, index options, and
the purposes of the Act. Trading and Markets, pursuant to delegated Exchange Traded Fund Shares quoting
authority.27 in decimals at $3.00 or higher shall have
IV. Solicitation of Comments Eduardo A. Aleman, a minimum increment of $.10, and all
Interested persons are invited to Assistant Secretary. options on stocks and index options
submit written data, views and [FR Doc. 2018–14298 Filed 7–2–18; 8:45 am] quoting in decimals under $3.00 shall
arguments concerning the foregoing, BILLING CODE 8011–01–P have a minimum increment of $.05.
including whether the proposed rule (i)(A) No Change.
change is consistent with the Act. (B) For a pilot period scheduled to
Comments may be submitted by any of SECURITIES AND EXCHANGE expire [June 30, 2018]December 31,
the following methods: COMMISSION 2018 or the date of permanent approval,
Electronic Comments if earlier (the ‘‘pilot’’), certain options
shall be quoted and traded on the
• Use the Commission’s internet [Release No. 34–83530; File No. SR–Phlx–
Exchange in minimum increments of
comment form (http://www.sec.gov/ 2018–50]
$0.01 for all series in such options with
rules/sro.shtml); or a price of less than $3.00, and in
• Send an email to rule-comments@ Self-Regulatory Organizations; Nasdaq
Phlx LLC; Notice of Filing and minimum increments of $0.05 for all
sec.gov. Please include File Number SR– series in such options with a price of
DTC–2018–002 on the subject line. Immediate Effectiveness of Proposed
$3.00 or higher, except that options
Rule Change To Extend the
Paper Comments overlying the PowerShares QQQ Trust
Exchange’s Penny Pilot Program (‘‘QQQQ’’)®, SPDR S&P 500 Exchange
• Send paper comments in triplicate
June 28, 2018. Traded Funds (‘‘SPY’’), and iShares
to Secretary, Securities and Exchange
Russell 2000 Index Funds (‘‘IWM’’)
Commission, 100 F Street NE, Pursuant to Section 19(b)(1) of the shall be quoted and traded in minimum
Washington, DC 20549. Securities Exchange Act of 1934 increments of $0.01 for all series
All submissions should refer to File (‘‘Act’’),1 and Rule 19b–4 thereunder,2 regardless of the price. A list of such
Number SR–DTC–2018–002. This file notice is hereby given that on June 25, options shall be communicated to
number should be included on the 2018, Nasdaq Phlx LLC (‘‘Phlx’’ or membership via an Options Trader Alert
subject line if email is used. To help the ‘‘Exchange’’) filed with the Securities (‘‘OTA’’) posted on the Exchange’s
Commission process and review your and Exchange Commission (‘‘SEC’’ or website.
comments more efficiently, please use ‘‘Commission’’) the proposed rule The Exchange may replace any pilot
only one method. The Commission will change as described in Items I and II issues that have been delisted with the
post all comments on the Commission’s below, which Items have been prepared next most actively traded multiply
internet website (http://www.sec.gov/ by the Exchange. The Commission is listed options classes that are not yet
rules/sro.shtml). Copies of the included in the pilot, based on trading
publishing this notice to solicit
submission, all subsequent
sradovich on DSK3GMQ082PROD with NOTICES
comments on the proposed rule change activity in the previous six months. The
amendments, all written statements replacement issues may be added to the
from interested persons.
with respect to the proposed rule pilot on the second trading day
change that are filed with the following [January 1, 2018]July 1, 2018.
Commission, and all written (C) No Change.
communications relating to the 27 17 CFR 200.30–3(a)(12).
proposed rule change between the 1 15 U.S.C. 78s(b)(1). 3 References herein to rules refer to rules of Phlx,
Commission and any person, other than 2 17 CFR 240.19b–4. unless otherwise noted.
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![Federal Register / Vol. 83, No. 128 / Tuesday, July 3, 2018 / Notices 31229
the date of the filing.12 However, Electronic Comments SECURITIES AND EXCHANGE
pursuant to Rule 19b–4(f)(6)(iii),13 the COMMISSION
Commission may designate a shorter • Use the Commission’s internet
time if such action is consistent with the comment form (http://www.sec.gov/ [Release No. 34–83536; File No. SR–
protection of investors and the public rules/sro.shtml); or CboeBYX–2018–009]
interest. The Exchange has asked the • Send an email to rule-comments@
Commission to waive the 30-day sec.gov. Please include File Number SR– Self-Regulatory Organizations; Cboe
operative delay so that the proposal may Phlx–2018–50 on the subject line. BYX Exchange, Inc.; Notice of Filing
become operative immediately upon and Immediate Effectiveness of a
Paper Comments Proposed Rule Change to Rule 11.9,
filing. The Commission believes that
Orders and Modifiers
waiving the 30-day operative delay is • Send paper comments in triplicate
consistent with the protection of to Secretary, Securities and Exchange June 28, 2018.
investors and the public interest Commission, 100 F Street NE, Pursuant to Section 19(b)(1) of the
because doing so will allow the Pilot Washington, DC 20549–1090. Securities Exchange Act of 1934
Program to continue without All submissions should refer to File (‘‘Act’’),1 and Rule 19b–4 thereunder,2
interruption in a manner that is Number SR–Phlx–2018–50. This file notice is hereby given that on June 18,
consistent with the Commission’s prior number should be included on the 2018, Cboe BYX Exchange, Inc. (the
approval of the extension and expansion ‘‘Exchange’’ or ‘‘BYX’’) filed with the
subject line if email is used. To help the
of the Pilot Program and will allow the Securities and Exchange Commission
Commission process and review your
Exchange and the Commission (‘‘Commission’’) the proposed rule
comments more efficiently, please use
additional time to analyze the impact of change as described in Items I and II
only one method. The Commission will below, which Items have been prepared
the Pilot Program.14 Accordingly, the post all comments on the Commission’s
Commission designates the proposed by the Exchange. The Exchange has
internet website (http://www.sec.gov/ designated this proposal as a ‘‘non-
rule change as operative upon filing rules/sro.shtml). Copies of the
with the Commission.15 controversial’’ proposed rule change
submission, all subsequent pursuant to Section 19(b)(3)(A) of the
At any time within 60 days of the amendments, all written statements Act 3 and Rule 19b–4(f)(6) thereunder,4
filing of such proposed rule change, the with respect to the proposed rule which renders it effective upon filing
Commission summarily may change that are filed with the with the Commission. The Commission
temporarily suspend such rule change if Commission, and all written is publishing this notice to solicit
it appears to the Commission that such communications relating to the comments on the proposed rule change
action is necessary or appropriate in the proposed rule change between the from interested persons.
public interest, for the protection of Commission and any person, other than
I. Self-Regulatory Organization’s
investors, or otherwise in furtherance of those that may be withheld from the Statement of the Terms of Substance of
the purposes of the Act. If the public in accordance with the the Proposed Rule Change
Commission takes such action, the provisions of 5 U.S.C. 552, will be
Commission shall institute proceedings available for website viewing and The Exchange filed a proposal to add
under Section 19(b)(2)(B) 16 of the Act to printing in the Commission’s Public a new optional order type modifier to be
determine whether the proposed rule Reference Room, 100 F Street NE, known as Non-Displayed Swap. The
change should be approved or Washington, DC 20549, on official proposed amendments are substantively
disapproved. business days between the hours of identical to the rules of Cboe EDGX
Exchange, Inc. (‘‘EDGX’’) 5 and
IV. Solicitation of Comments 10:00 a.m. and 3:00 p.m. Copies of the
substantially similar to the rules of the
filing also will be available for
Nasdaq Stock Market LLC (‘‘Nasdaq’’) 6
Interested persons are invited to inspection and copying at the principal and NYSE Arca, Inc. (‘‘Arca’’).7
submit written data, views, and office of the Exchange. All comments
arguments concerning the foregoing, received will be posted without change. 1 15 U.S.C. 78s(b)(1).
including whether the proposed rule Persons submitting comments are 2 17 CFR 240.19b–4.
change is consistent with the Act. cautioned that we do not redact or edit 3 15 U.S.C. 78s(b)(3)(A).
Comments may be submitted by any of personal identifying information from 4 17 CFR 240.19b–4(f)(6).
the following methods: comment submissions. You should 5 See EDGX Rules 11.6(n)(7), 11.8(b)(7) and
11.8(d)(5); see also Securities Exchange Act Release
submit only information that you wish No. 80841 (June 1, 2017), 82 FR 26559 (June 7,
12 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– to make available publicly. All 2017), (Notice of Filing and Immediate
4(f)(6)(iii) requires the Exchange to give the submissions should refer to File Effectiveness To Add a New Optional Order
Commission written notice of the Exchange’s intent Instruction Known as Non-Displayed Swap).
to file the proposed rule change along with a brief Number SR–Phlx–2018–50 and should 6 See Nasdaq Rule 4703(m) (defining the Trade
description and the text of the proposed rule be submitted on or before July 24, 2018. Now order modifier); see also Securities Exchange
change, at least five business days prior to the date Act Release No. 79282 (November 10, 2016), 81 FR
of filing of the proposed rule change, or such For the Commission, by the Division of
81219 (November 17, 2016) (Notice of Filing and
shorter time as designated by the Commission. The Trading and Markets, pursuant to delegated
Immediate Effectiveness of Proposed Rule change to
Exchange has satisfied this pre-filing requirement. authority.17 Amend Rule 4702 and Rule 4703 to Add a ‘‘Trade
13 17 CFR 240.19b–4(f)(6)(iii).
Eduardo A. Aleman, Now’’ Instruction to Certain Order Types).
sradovich on DSK3GMQ082PROD with NOTICES
14 See Securities Exchange Act Release No. 61061 7 See Arca Rule 7.31–E(d)(2)(B) (describing the
(November 24, 2009), 74 FR 62857 (December 1, Assistant Secretary. Non-Display Remove Modifier); see also Securities
2009) (SR–NYSEArca–2009–44). [FR Doc. 2018–14291 Filed 7–2–18; 8:45 am] Exchange Act Release No. 76267 (October 26, 2015),
15 For purposes only of waiving the operative
BILLING CODE 8011–01–P 80 FR 66951 (October 30, 2015) (Order Approving
delay for this proposal, the Commission has Proposed Rule change Adopting New Equity
considered the proposed rule’s impact on Trading Rules Relating to Orders and Modifiers and
efficiency, competition, and capital formation. See Retail Liquidity Program To Reflect the
15 U.S.C. 78c(f). Implementation of Pillar, the Exchange’s New
16 15 U.S.C. 78s(b)(2)(B). 17 17 CFR 200.30–3(a)(12). Trading Technology Platform).
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Document Created: 2018-07-02 23:55:48
Document Modified: 2018-07-02 23:55:48
| 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 31227 |
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