83 FR 3203 - Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Harmonize the Definition of Non-Professional User in Its Fee Schedule With That of Its Affiliates
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 15 (January 23, 2018)
Federal Register Volume 83, Issue 15 (January 23, 2018)
| Page Range | 3203-3205 | |
| FR Document | 2018-01089 |
[Federal Register Volume 83, Number 15 (Tuesday, January 23, 2018)] [Notices] [Pages 3203-3205] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-01089] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82518; File No. SR-CboeEDGA-2018-001] Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Harmonize the Definition of Non-Professional User in Its Fee Schedule With That of Its Affiliates January 17, 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 January 8, 2018, Cboe EDGA Exchange, Inc. (the ``Exchange'' or ``EDGA'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b- 4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with the Commission. 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. \3\ 15 U.S.C. 78s(b)(3)(A). \4\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the Market Data section of its fee schedule to harmonize the definition of ``Non-Professional User'' with that of its affiliates, Cboe Exchange, Inc. (``Cboe'') and Cboe C2 Exchange, Inc. (``C2''). The text of the proposed rule change is available at the Exchange's website at www.markets.cboe.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 parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the Market Data section of its fee schedule to harmonize the definition of ``Non-Professional User'' with that of its affiliates, Cboe and C2. In late 2016, the Exchange and its affiliates Cboe EDGX Exchange, Inc. (``EDGX''), Cboe BYX Exchange, Inc. (``BYX''), and Cboe BZX Exchange, Inc. (``BZX'') received approval to effect a merger (the ``Merger'') of the Exchange's parent company, Bats Global Markets, Inc., the parent of EDGA, EDGX, BYX, and BZX with CBOE Holding, Inc. (now known as Cboe Global Markets, Inc.) the parent company of Cboe and C2.\5\ In order to provide consistent rules and terminology amongst the Exchange, Cboe, and C2, the Exchange proposes to amend the definition of ``Non-Professional User'' to harmonize it with that of its affiliates, Cboe and C2. --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 79585 (December 16, 2016), 82 FR 6961 (December 22, 2016) (SR-BatsEDGX-2016-60; SR- BatsEDGA-2016-24; SR-BatsBYX-2017-29; and SR-BatsBYX-2016-68). --------------------------------------------------------------------------- The EDGX Option's fee schedule currently defines ``Non-Professional User'' as: a natural person who is not: (i) Registered or qualified in any capacity with the Commission, the Commodity Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association; (ii) engaged as an ``investment adviser'' as that term is defined in Section 202(a)(11) of the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt. As amended, ``Non-Professional User'' would be defined as: a natural person or qualifying trust that uses Data only for personal purposes and not for any commercial purpose and, for a natural person who works in the United States, is not: (i) Registered or qualified in any capacity with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association; (ii) engaged as an ``investment adviser'' as that term is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or, for a natural person who works outside of the United States, does not perform the same functions as would disqualify such person as a Non-Professional User if he or she worked in the United States. The revised definition is substantially identical to the definition of ``Non-Professional User' included within the Cboe and C2 fee schedules.\6\ The Exchange's current definition of ``Non-Professional User'' does differ from that contained in the Cboe and C2 fee schedules in following minor, non-substantive ways. First, the harmonized definition will make clear that a Non-Professional User may be a natural person or qualifying trust that uses Data only for personal purposes and not for any commercial purpose. To date, the Exchange is not aware of any entity that [[Page 3204]] receives an Exchange market data product would be deemed a qualifying trust and, therefore, has not had to determine whether such entity is a Professional or Non-Professional User under the prior definition. Second, the harmonized definition would specify that a natural person who works outside of the United States would not be deemed a Non- Professional User where that person does not perform the same functions as would disqualify such person as a Non-Professional User if he or she worked in the United States. The definition with regard to natural persons who work in the United States are substantively identical amongst the old and harmonized definition. --------------------------------------------------------------------------- \6\ See the Cboe fee schedule available at https://www.cboe.org/general-info/pdfframed?content=/publish/mdxfees/cboe-cds-fees-schedule-for-cboe-datafeeds.pdf§ion=SEC_MDX_CSM&title=Cboe%20CDS%20Fees%20Schedule and the C2 fee schedule available at https://www.cboe.org/general-info/pdfframed?content=/publish/mdxfees/c2-cds-fees-schedule.pdf§ion=SEC_MDX_CSM&title=C2%20CDS%20Fees%20Schedule. --------------------------------------------------------------------------- None of these differences impact the manner in which the Exchange would characterize a User and a Professional or Non-Professional. The harmonized definition would provide additional specificity while harmonizing the definition with that of its affiliates. Doing so would ensure consistent terms amongst the Exchange and its affiliates, thereby reducing the potential for confusion amongst market data subscribers regarding the type of User they may be considered by the Exchange. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 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 promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, 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. The harmonized definition of Non-Professional User is equitable, reasonable, and removes impediments to and perfect the mechanism of a free and open market and a national market system it would provide additional specificity while harmonizing the definition with that of its affiliates. Doing so would ensure consistent terms amongst the Exchange and its affiliates, thereby reducing the potential for confusion amongst market data subscribers regarding the type of User they may be considered by the Exchange. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f. \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- 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 harmonized definition of Non-Professional User would have no impact on competition because it does not materially alter the definition. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \9\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\10\ In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change, 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. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A)(iii). \10\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- In its filing, the Exchange requested that the Commission waive the 30-day operative delay in order to enable the Exchange to immediately ensure consistent use of terms amongst the Exchange and its affiliates, thereby reducing the potential for confusion amongst market data subscribers regarding the type of User they may be considered by the Exchange. The Commission believes that such waiver is consistent with the protection of investors and the public interest. Therefore, the Commission designates the proposed rule change to be operative upon filing. 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.\11\ --------------------------------------------------------------------------- \11\ See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-CboeEDGA-2018-001 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 CboeEDGA-2018-001. 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 [[Page 3205]] 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 CboeEDGA-2018-001 and should be submitted on or before February 13, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-01089 Filed 1-22-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3203
provisions of 5 U.S.C. 552, will be solicit comments on the proposed rule The EDGX Option’s fee schedule
available for website viewing and change from interested persons. currently defines ‘‘Non-Professional
printing in the Commission’s Public User’’ as:
I. Self-Regulatory Organization’s
Reference Room, 100 F Street NE, a natural person who is not: (i) Registered or
Statement of the Terms of Substance of
Washington, DC 20549, on official qualified in any capacity with the
the Proposed Rule Change
business days between the hours of Commission, the Commodity Futures
10:00 a.m. and 3:00 p.m. Copies of the The Exchange filed a proposal to Trading Commission, any state securities
filing also will be available for amend the Market Data section of its fee agency, any securities exchange or
inspection and copying at the principal schedule to harmonize the definition of association, or any commodities or futures
office of the Exchange. All comments contract market or association; (ii) engaged as
‘‘Non-Professional User’’ with that of its an ‘‘investment adviser’’ as that term is
received will be posted without change. affiliates, Cboe Exchange, Inc. (‘‘Cboe’’) defined in Section 202(a)(11) of the
Persons submitting comments are and Cboe C2 Exchange, Inc. (‘‘C2’’). Investment Advisers Act of 1940 (whether or
cautioned that we do not redact or edit The text of the proposed rule change not registered or qualified under that Act); or
personal identifying information from is available at the Exchange’s website at (iii) employed by a bank or other
comment submissions. You should www.markets.cboe.com, at the principal organization exempt from registration under
submit only information that you wish federal or state securities laws to perform
office of the Exchange, and at the
to make available publicly. All functions that would require registration or
Commission’s Public Reference Room. qualification if such functions were
submissions should refer to File
II. Self-Regulatory Organization’s performed for an organization not so exempt.
Number SR–ISE–2018–04 and should be
submitted on or before February 13, Statement of the Purpose of, and As amended, ‘‘Non-Professional User’’
2018. Statutory Basis for, the Proposed Rule would be defined as:
Change a natural person or qualifying trust that uses
For the Commission, by the Division of
Trading and Markets, pursuant to delegated In its filing with the Commission, the Data only for personal purposes and not for
authority.39 any commercial purpose and, for a natural
Exchange included statements
Eduardo A. Aleman, person who works in the United States, is
concerning the purpose of and basis for not: (i) Registered or qualified in any capacity
Assistant Secretary. the proposed rule change and discussed with the Securities and Exchange
[FR Doc. 2018–01092 Filed 1–22–18; 8:45 am] any comments it received on the Commission, the Commodities Futures
BILLING CODE 8011–01–P proposed rule change. The text of these Trading Commission, any state securities
statements may be examined at the agency, any securities exchange or
places specified in Item IV below. The association, or any commodities or futures
SECURITIES AND EXCHANGE Exchange has prepared summaries, set contract market or association; (ii) engaged as
an ‘‘investment adviser’’ as that term is
COMMISSION forth in Sections A, B, and C below, of
defined in Section 202(a)(11) of the
the most significant parts of such Investment Advisors Act of 1940 (whether or
[Release No. 34–82518; File No. SR– statements.
CboeEDGA–2018–001] not registered or qualified under that Act); or
A. Self-Regulatory Organization’s (iii) employed by a bank or other
Self-Regulatory Organizations; Cboe organization exempt from registration under
Statement of the Purpose of, and
federal or state securities laws to perform
EDGA Exchange, Inc.; Notice of Filing Statutory Basis for, the Proposed Rule functions that would require registration or
and Immediate Effectiveness of a Change qualification if such functions were
Proposed Rule Change To Harmonize performed for an organization not so exempt;
1. Purpose
the Definition of Non-Professional User or, for a natural person who works outside
in Its Fee Schedule With That of Its The Exchange proposes to amend the of the United States, does not perform the
Affiliates Market Data section of its fee schedule same functions as would disqualify such
to harmonize the definition of ‘‘Non- person as a Non-Professional User if he or
January 17, 2018. she worked in the United States.
Professional User’’ with that of its
Pursuant to Section 19(b)(1) of the affiliates, Cboe and C2. In late 2016, the The revised definition is substantially
Securities Exchange Act of 1934 (the Exchange and its affiliates Cboe EDGX identical to the definition of ‘‘Non-
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Exchange, Inc. (‘‘EDGX’’), Cboe BYX Professional User’ included within the
notice is hereby given that on January 8, Exchange, Inc. (‘‘BYX’’), and Cboe BZX Cboe and C2 fee schedules.6 The
2018, Cboe EDGA Exchange, Inc. (the Exchange, Inc. (‘‘BZX’’) received Exchange’s current definition of ‘‘Non-
‘‘Exchange’’ or ‘‘EDGA’’) filed with the approval to effect a merger (the Professional User’’ does differ from that
Securities and Exchange Commission ‘‘Merger’’) of the Exchange’s parent contained in the Cboe and C2 fee
(the ‘‘Commission’’) the proposed rule company, Bats Global Markets, Inc., the schedules in following minor, non-
change as described in Items I and II parent of EDGA, EDGX, BYX, and BZX substantive ways. First, the harmonized
below, which Items have been prepared with CBOE Holding, Inc. (now known as definition will make clear that a Non-
by the Exchange. The Exchange has Cboe Global Markets, Inc.) the parent Professional User may be a natural
designated this proposal as a ‘‘non- company of Cboe and C2.5 In order to person or qualifying trust that uses Data
controversial’’ proposed rule change provide consistent rules and only for personal purposes and not for
pursuant to Section 19(b)(3)(A) of the terminology amongst the Exchange, any commercial purpose. To date, the
Act 3 and Rule 19b–4(f)(6)(iii) Cboe, and C2, the Exchange proposes to Exchange is not aware of any entity that
thereunder,4 which renders it effective amend the definition of ‘‘Non-
sradovich on DSK3GMQ082PROD with NOTICES
upon filing with the Commission. The Professional User’’ to harmonize it with 6 See the Cboe fee schedule available at https://
Commission is publishing this notice to that of its affiliates, Cboe and C2. www.cboe.org/general-info/pdfframed?content=/
publish/mdxfees/cboe-cds-fees-schedule-for-cboe-
39 17 datafeeds.pdf§ion=SEC_MDX_CSM&title=
CFR 200.30–3(a)(12). 5 See Securities Exchange Act Release No. 79585
1 15
Cboe%20CDS%20Fees%20Schedule and the C2 fee
U.S.C. 78s(b)(1). (December 16, 2016), 82 FR 6961 (December 22, schedule available at https://www.cboe.org/general-
2 17 CFR 240.19b–4.
2016) (SR–BatsEDGX–2016–60; SR–BatsEDGA– info/pdfframed?content=/publish/mdxfees/c2-cds-
3 15 U.S.C. 78s(b)(3)(A).
2016–24; SR–BatsBYX–2017–29; and SR–BatsBYX– fees-schedule.pdf§ion=SEC_MDX_CSM&title=
4 17 CFR 240.19b–4(f)(6)(iii). 2016–68). C2%20CDS%20Fees%20Schedule.
VerDate Sep<11>2014 19:38 Jan 22, 2018 Jkt 244001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\23JAN1.SGM 23JAN1](https://thefederalregister.org/doc/83_FR_3218/page/1.svg)
![Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3205
inspection and copying at the principal letters on the proposed rule change, Commission instituted proceedings
office of the Exchange. All comments including a response from the under Section 19(b)(2)(B) of the Act 6 to
received will be posted without change. Exchange.5 On August 18, 2017, the determine whether to approve or
Persons submitting comments are disapprove the proposed rule change.7
cautioned that we do not redact or edit 5 See Letters to Brent J. Fields, Secretary, Thereafter, the Commission received
personal identifying information from Commission, from: (1) Donald K. Ross, Jr., nine more comment letters, including
Executive Chairman, PDQ Enterprise, LLC, dated
comment submissions. You should June 6, 2017 (‘‘PDQ Letter’’); (2) Edward S. Knight,
three responses from the Exchange.8 On
submit only information that you wish Executive Vice President and General Counsel,
to make available publicly. All Nasdaq, Inc., dated June 12, 2017 (‘‘Nasdaq Letter Services, dated July 19, 2017 (‘‘Stewart Letter’’);
submissions should refer to File 1’’); (3) Ray Ross, Chief Technology Officer, (32) M. Farooq Kathwari, Chairman, President &
Clearpool Group, dated June 12, 2017 (‘‘Clearpool CEO, Ethan Allen Interiors, Inc., dated July 24, 2017
Number CboeEDGA–2018–001 and Letter’’); (4) Venu Palaparthi, SVP, Compliance, (‘‘Ethan Allen Letter’’); (33) Jeff Green, Founder,
should be submitted on or before Regulatory and Government Affairs, Virtu Chief Executive Officer and Chairman of the Board
February 13, 2018. Financial, dated June 12, 2017 (‘‘Virtu Letter’’); (5) of Directors, The Trade Desk Inc., dated July 26,
Theodore R. Lazo, Managing Director and Associate 2017 (‘‘Trade Desk Letter’’); (34) James J. Angel,
For the Commission, by the Division of General Counsel, SIFMA, dated June 13, 2017 Associate Professor, McDonough School of
Trading and Markets, pursuant to delegated (‘‘SIFMA Letter 1’’); (6) Elizabeth K. King, General Business, Georgetown University, dated July 30,
authority.12 Counsel and Corporate Secretary, New York Stock 2017 (‘‘Angel Letter’’); (35) Jon Stonehouse, CEO,
Exchange (‘‘NYSE’’), dated June 13, 2017 (‘‘NYSE and Tom Staab, CFO, BioCryst Pharmaceuticals,
Eduardo A. Aleman, Letter 1’’); (7) John M. Bowers, Bowers Securities, Inc., dated July 31, 2017 (‘‘BioCryst Letter’’); (36)
Assistant Secretary. dated June 14, 2017 (‘‘Bowers Letter’’); (8) Jonathan Peter Campbell, Chief Financial Officer, Mimecast,
[FR Doc. 2018–01089 Filed 1–22–18; 8:45 am] D. Corpina, Senior Managing Partner, Meridian dated July 31, 2017 (‘‘Mimecast Letter’’); (37) Joanne
Equity Partners, dated June 16, 2017 (‘‘Meridian Moffic-Silver, Executive Vice President, General
BILLING CODE 8011–01–P Letter’’); (9) Fady Tanios, Chief Executive Officer, Counsel, and Corporate Secretary, Bats Global
and Brian Fraioli, Chief Compliance Officer, Markets, Inc., dated August 2, 2017 (‘‘BZX Letter
Americas Executions, LLC, dated June 16, 2017 1’’); (38) David M. Weisberger, Head of Equities,
SECURITIES AND EXCHANGE (‘‘Americas Executions Letter’’); (10) Ari M. ViableMkts, dated August 3, 2017 (‘‘ViableMkts
Rubenstein, Co-Founder and Chief Executive Letter’’); (39) Charles Beck, Chief Financial Officer,
COMMISSION Officer, GTS Securities LLC, dated June 22, 2017 Digimarc Corporation, dated August 3, 2017
(‘‘GTS Securities Letter 1’’); (11) John Ramsay, Chief (‘‘Digimarc Letter’’); (40) Elizabeth K. King, General
[Release No. 34–82522; File No. SR–
Market Policy Officer, Investors Exchange LLC, Counsel and Corporate Secretary, NYSE, dated
BatsBZX–2017–34] dated June 23, 2017 (‘‘IEX Letter’’); (12) Jay S. August 9, 2017 (‘‘NYSE Letter 2’’); (41)
Sidhu, Chairman, Chief Executive Officer, Representative Sean P. Duffy and Representative
Self-Regulatory Organizations; Bats Customers Bancorp, Inc., dated June 27, 2017 Gregory W. Meeks, dated August 9, 2017 (‘‘Duffy/
BZX Exchange, Inc.; Notice of Filing of (‘‘Customers Bancorp Letter’’); (13) Joanne Meeks Letter’’); (42) Michael J. Chewens, Senior
Amendment No. 1 and Order Granting Freiberger, Vice President, Treasurer, Masonite Executive Vice President & Chief Financial Officer,
International Corporation, dated June 27, 2017 NBT Bancorp Inc., dated August 11, 2017 (‘‘NBT
Approval of a Proposed Rule Change, (‘‘Masonite International Letter’’); (14) David B. Bancorp Letter’’); (43) Barry Zwarenstein, Chief
as Modified by Amendment No. 1, To Griffith, Investor Relations Manager, Orion Group Financial Officer, Five9, Inc., dated August 11, 2017
Introduce Cboe Market Close, a Holdings, Inc., dated June 27, 2017 (‘‘Orion Group (‘‘Five9 Letter’’); (44) William A. Backus, Chief
Letter’’); (15) Kieran O’Sullivan, Chairman, Financial Officer & Treasurer, Balchem Corporation,
Closing Match Process for Non-BZX President and CEO, CTS Corporation, dated June dated August 15, 2017 (‘‘Balchem Letter’’); (45)
Listed Securities Under New Exchange 28, 2017 (‘‘CTS Corporation Letter’’); (16) Sherri Raiford Garrabrant, Director, Investor Relations,
Rule 11.28 Brillon, Executive Vice-President and Chief Cree, Inc., dated August 15, 2017 (‘‘Cree Letter’’);
Financial Officer, Encana Corporation, dated June (46) Steven Paladino, Executive Vice President &
January 17, 2018. 29, 2017 (‘‘Encana Letter’’); (17) Steven C. Lilly, Chief Financial Officer, Henry Schein, Inc., dated
Chief Financial Officer, Triangle Capital August 16, 2017 (‘‘Henry Schein Letter’’); (47)
I. Introduction Corporation, dated June 29, 2017 (‘‘Triangle Capital Theodore Jenkins, Senior Director, Investor
Letter’’); (18) Robert F. McCadden, Executive Vice Relations and Communications, Corbus
On May 5, 2017, Bats BZX Exchange, President and Chief Financial Officer, Pennsylvania Pharmaceuticals, Inc., dated August 17, 2017
Inc. (now known as Cboe BZX Real Estate Investment Trust, dated June 29, 2017 (‘‘Corbus Letter’’); (48) Ari M. Rubenstein, Co-
Exchange, Inc.) (‘‘BZX’’ or ‘‘Exchange’’) (‘‘Pennsylvania REIT Letter’’); (19) Andrew Stevens, Founder and Chief Executive Officer, GTS
General Counsel, IMC Financial Markets, dated Securities LLC, dated August 17, 2017 (‘‘GTS
filed with the Securities and Exchange June 30, 2017 (‘‘IMC Letter’’); (20) Daniel S. Tucker, Securities Letter 2’’); (49) Cameron Bready, Senior
Commission (‘‘Commission’’), pursuant Senior Vice President and Treasurer, Southern Executive VP, Chief Financial Officer, Global
to Section 19(b)(1) of the Securities Company, dated July 5, 2017 (‘‘Southern Company Payments Inc., dated August 17, 2017 (‘‘Global
Exchange Act of 1934 (‘‘Act’’) 1 and Rule Letter’’); (21) Cole Stevens, Investor Relations Payments Letter’’); (50) Mike Gregoire, CEO, CA
Associate, Nobilis Health, dated July 6, 2017 Technologies, dated August 17, 2017 (‘‘CA
19b–4 thereunder,2 a proposed rule (‘‘Nobilis Health Letter’’); (22) Mehmet Kinak, Head Technologies Letter’’); (51) Patrick L. Donnelly,
change to adopt Bats Market Close, a of Global Equity Market Structure & Electronic Executive Vice President & General Counsel, Sirius
closing match process for non-BZX Trading, et al., T. Rowe Price Associates, Inc., dated XMHoldings Inc., dated August 17, 2017 (‘‘Sirius
Listed Securities. The proposed rule July 7, 2017 (‘‘T. Rowe Price Letter’’); (23) David L. Letter’’); (52) Theodore R. Lazo, Managing Director
Dragics, Senior Vice President, Investor Relations,
change was published for comment in and Associate General Counsel, SIFMA, dated
CACI International Inc., dated July 7, 2017 (‘‘CACI
August 18, 2017 (‘‘SIFMA Letter 2’’); (53) Donald
the Federal Register on May 22, 2017.3 Letter’’); (24) Mark A. Stegeman, Senior Vice
Bollerman, dated August 18, 2017 (‘‘Bollerman
On July 3, 2017, the Commission President & CFO, Turning Point Brands, Inc., dated
Letter’’); and (54) Sarah A. O’Dowd, Senior Vice
designated a longer period within which July 12, 2017 (‘‘Turning Point Letter’’); (25) Jon R.
President, Chief Legal Officer and Secretary, Lam
Moeller, Vice Chair and Chief Financial Officer, and
to approve the proposed rule change, Deborah J. Majoras, Chief Legal Officer and
Research Corporation, dated August 18, 2017 (‘‘Lam
disapprove the proposed rule change, or Letter’’).
Secretary, The Proctor & Gamble Company, dated 6 15 U.S.C. 78s(b)(2)(B).
institute proceedings to determine July 12, 2017 (‘‘P&G Letter’’); (26) Christopher A.
7 See Securities Exchange Act Release No. 81437,
Iacovella, Chief Executive Officer, Equity Dealers of
whether the proposed rule change America, dated July 12, 2017 (‘‘EDA Letter’’); (27) 82 FR 40202 (August 24, 2017) (‘‘OIP’’). In the OIP,
should be disapproved.4 The Rob Bernshteyn, Chief Executive Officer, Chairman the Commission specifically requested comment on
Commission received 54 comment Board of Directors, Coupa Software, Inc., dated July eight series of questions. See id. at 40210–11.
sradovich on DSK3GMQ082PROD with NOTICES
12, 2017 (‘‘Coupa Software Letter’’); (28) Sally J. 8 See Letters to Brent J. Fields, Secretary,
12 17 Curley, Senior Vice President, Investor Relations, Commission, from: (1) Gabrielle Rabinovitch, VP,
CFR 200.30–3(a)(12).
1 15
Cardinal Health, Inc., dated July 14, 2017 Investor Relations, PayPal Holdings, Inc., dated
U.S.C. 78s(b)(1). (‘‘Cardinal Health Letter’’); (29) Mickey Foster, Vice September 12, 2017 (‘‘PayPal Letter’’); (2) Edward
2 17 CFR 240.19b–4.
President, Investor Relations, FedEx Corporation, S. Knight, Executive Vice President and General
3 See Securities Exchange Act Release No. 80683
dated July 14, 2017 (‘‘FedEx Letter’’); (30) Counsel, Nasdaq, Inc., dated September 18, 2017
(May 16, 2017), 82 FR 23320 (‘‘Notice’’). Alexander J. Matturri, CEO, S&P Dow Jones Indices, (‘‘Nasdaq Letter 2’’); (3) Joanne Moffic-Silver,
4 See Securities Exchange Act Release No. 81072, dated July 18, 2017 (‘‘SPDJI Letter’’); (31) John L. Executive Vice President, General Counsel, and
82 FR 31792 (July 10, 2017). Killea, Chief Legal Officer, Stewart Information Continued
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Document Created: 2018-01-23 01:09:00
Document Modified: 2018-01-23 01:09:00
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 83 FR 3203 |
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