83 FR 37548 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List Related to Co-Location Services in Connection With a Proposed Transaction With the Chicago Stock Exchange, Inc. Exchange and Its Parent, CHX Holdings, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 148 (August 1, 2018)
Federal Register Volume 83, Issue 148 (August 1, 2018)
| Page Range | 37548-37552 | |
| FR Document | 2018-16422 |
[Federal Register Volume 83, Number 148 (Wednesday, August 1, 2018)] [Notices] [Pages 37548-37552] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-16422] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83717; File No. SR-NYSE-2018-35] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List Related to Co-Location Services in Connection With a Proposed Transaction With the Chicago Stock Exchange, Inc. Exchange and Its Parent, CHX Holdings, Inc. July 26, 2018. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 [[Page 37549]] (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on July 16, 2018, New York Stock Exchange LLC (``NYSE'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 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 its Price List related to co- location services in connection with a proposed transaction (``Transaction'') whereby the Chicago Stock Exchange, Inc. (``CHX'') Exchange and its parent, CHX Holdings, Inc. (``CHX Holdings''), would become indirect subsidiaries of Intercontinental Exchange, Inc. (``ICE''), the Exchange's indirect parent, and affiliates of the Exchange. The Exchange also proposes to make a non-substantive change to the Price List. The proposed rule change is available on the Exchange's website at www.nyse.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 self-regulatory organization 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 those 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its Price List related to co- location \4\ services in connection with the proposed Transaction whereby CHX and its parent, CHX Holdings, would become indirect subsidiaries of ICE, the Exchange's indirect parent, and affiliates of the Exchange.\5\ The Exchange also proposes to make a non-substantive change to the Price List. --------------------------------------------------------------------------- \4\ The Exchange initially filed rule changes relating to its co-location services with the Commission in 2010. See Securities Exchange Act Release No. 62960 (September 21, 2010), 75 FR 59310 (September 27, 2010) (SR-NYSE-2010-56). The Exchange operates a data center in Mahwah, New Jersey (the ``data center'') from which it provides co-location services to Users. \5\ In order to effect the Transaction, a wholly-owned subsidiary of the Exchange's direct parent company, NYSE Group, Inc., would merge with and into CHX Holdings, with CHX Holdings continuing as the surviving corporation. See Securities Exchange Act Release Nos. 83635 (July 13, 2018) (SR-CHX-2018-004), and 83303 (May 22, 2018), 83 FR 24517 (May 29, 2018) (SR-CHX-2018-004). CHX would also become an affiliate of the Exchange's affiliates NYSE American LLC (``NYSE American''), NYSE Arca, Inc. (``NYSE Arca''), and NYSE National, Inc. (``NYSE National'' and, together, the ``Affiliate SROs''). --------------------------------------------------------------------------- The Exchange proposes that the proposed rule change become operative upon the closing of the Transaction. General Note 4 Pursuant to General Note 4 of the Price List, when a User \6\ purchases access to the Liquidity Center Network (``LCN'') or the internet protocol (``IP'') network, the two local area networks available in the data center,\7\ a User receives (a) the ability to access the trading and execution systems of the Exchange and the Affiliate SROs (``Exchange Systems''), and (b) connectivity to any of the listed data products (``Included Data Products'') that it selects. The majority of the Included Data Products are proprietary feeds of the Exchange and the Affiliate SROs.\8\ --------------------------------------------------------------------------- \6\ For purposes of the Exchange's co-location services, a ``User'' means any market participant that requests to receive co- location services directly from the Exchange. See Securities Exchange Act Release No. 76008 (September 29, 2015), 80 FR 60190 (October 5, 2015) (SR-NYSE-2015-40). As specified in the Price List, a User that incurs co-location fees for a particular co-location service pursuant thereto would not be subject to co-location fees for the same co-location service charged by the Affiliate SROs. See Securities Exchange Act Release No. 70206 (August 15, 2013), 78 FR 51765 (August 21, 2013) (SR-NYSE-2013-59). \7\ See Securities Exchange Act Release No. 79730 (January 4, 2017), 82 FR 3045 (January 10, 2017) (SR-NYSE-2016-92). \8\ Id. Included Data Products are listed in the Price List under General Note 4. --------------------------------------------------------------------------- Upon the closing of the Transaction, CHX will be an affiliate of both the Exchange and the Affiliate SROs. Consistent with the treatment of the Exchange's and the Affiliate SROs' trading and execution systems and data products, the Exchange proposes to expand the definition of Exchange Systems to incorporate CHX's trading and execution systems, and to add CHX's data products to the table of Included Data Products. In order to make the change, the Exchange proposes to add CHX to the list of trading and execution system providers in the first sentence of the first paragraph and add CHX to the lists of affiliated entities in the first, third and fourth sentences. The proposed changes to the paragraph are as follows (additions underlined, deletions in brackets): BILLING CODE 8011-01-P [[Page 37550]] [GRAPHIC] [TIFF OMITTED] TN01AU18.008 BILLING CODE 8011-01-C In addition, the Exchange proposes to add CHX to the table of Included Data Products set forth in General Note 4. In a non-substantive change, the Exchange proposes to make the table of Included Data Products alphabetical by putting the list of NYSE American feeds before NYSE American Options. Such list currently follows NYSE Bonds. Connectivity to Third Party Systems and Third Party Data Feeds Users may obtain access to the trading and execution services of third party markets and other content service providers (``Third Party Systems'') of multiple third party markets and other content service providers for a fee.\9\ Users connect to Third Party Systems over the IP network. In addition, Users may obtain connectivity to data feeds from third party markets and other content service providers (``Third Party Data Feeds'') for a fee.\10\ --------------------------------------------------------------------------- \9\ See Securities Exchange Act Release No. 80311 (March 24, 2017), 82 FR 15741 (March 30, 2017) (SR-NYSE-2016-45). \10\ See id. --------------------------------------------------------------------------- Currently, CHX is listed in the tables setting forth the Third Party Systems and Third Party Data Feeds, and Users seeking access to CHX's trading and execution services and data feeds are subject to the applicable fees. Consistent with the proposed changes to General Note 4 described above, because CHX will become an affiliate of the Exchange, the Exchange proposes to delete CHX from such tables. General As is the case with all Exchange co-location arrangements, (i) neither a User nor any of the User's customers would be permitted to submit orders directly to the Exchange unless such User or customer is a member organization, a Sponsored Participant or an agent thereof (e.g., a service bureau providing order entry services); (ii) use of the co-location services proposed herein would be completely voluntary and available to all Users on a non-discriminatory basis; \11\ and (iii) a User would only incur one charge for the particular co-location service described herein, regardless of whether the User connects only to the Exchange or to the Exchange, one or more of its Affiliate SROs.\12\ --------------------------------------------------------------------------- \11\ As is currently the case, Users that receive co-location services from the Exchange will not receive any means of access to the Exchange's trading and execution systems that is separate from, or superior to, that of other Users. In this regard, all orders sent to the Exchange enter the Exchange's trading and execution systems through the same order gateway, regardless of whether the sender is co-located in the data center or not. In addition, co-located Users do not receive any market data or data service product that is not available to all Users, although Users that receive co-location services normally would expect reduced latencies in sending orders to, and receiving market data from, the Exchange. \12\ See 78 FR 51765, supra note 6, at 51766. The Affiliate SROs have also submitted substantially the same proposed rule change to propose the changes described herein. See SR-NYSEAMER-2018-38, SR- NYSEArca-2018-53, and SR-NYSENAT-2018-17. --------------------------------------------------------------------------- The proposed change is not otherwise intended to address any other issues relating to co-location services and/or [[Page 37551]] related fees, and the Exchange is not aware of any problems that Users would have in complying with the proposed change. 2. Statutory Basis The Exchange believes that the proposal is consistent with Section 6(b) of the Act,\13\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\14\ in particular, because 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b). \14\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed change would remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, protect investors and the public interest because upon the closing of the Transaction, CHX will be an affiliate of both the Exchange and the Affiliate SROs. Expanding the definition of Exchange Systems to incorporate CHX's trading and execution systems, adding CHX's data products to the table of Included Data Products, and removing CHX from the lists of Third Party Systems and Third Party Data Feeds would make the Price List treatment of CHX trading and execution systems and data products consistent with the treatment of the trading and execution systems and data products of the Exchange and the Affiliate SROs. Further, the Exchange believes that revising General Note 4 would promote just and equitable principles of trade and remove impediments to, and perfect the mechanisms of, a free and open market and a national market system as it would make clear that all Users that voluntarily select to access the LCN or IP network would receive the same access to the CHX trading and execution systems and connectivity to CHX data as to those of the Exchange and the Affiliate SROs and would not be subject to a charge above and beyond the fee paid for the relevant LCN or IP network access. In addition, as with Exchange and Affiliate SRO access and connectivity, a User would not be required to use any of its bandwidth to access the CHX trading and execution system or connect to CHX data unless it wished to do so. A User only receives access to Exchange Systems and connectivity to Included Data Products that it selects, and a User can change such access or connectivity it receives at any time, subject to authorization from the relevant data provider, the Exchange, or relevant Affiliate SRO. The Exchange believes that the non-substantive change to put the table of Included Data Products into alphabetical order would remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, protect investors and the public interest because the amendment would clarify Exchange rules and make it easier for market participants to find Included Data Products in the table. The Exchange also believes that the proposed fee change is consistent with Section 6(b)(4) of the Act,\15\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that the proposed change provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers, because the change would result in CHX, which will be an affiliate of the Exchange and the Affiliate SROs, being treated on the same terms and in the same manner as the Exchange and the Affiliate SROs with respect to their trading and execution systems and data products. The proposed change would result in reduced fees for Users that have access or connectivity to CHX, as it would no longer be a Third Party System or Third Party Data Feed. The Exchange believes that the proposed non-substantive change to put the table of Included Data Products into alphabetical order would be reasonable because the change would have no impact on pricing or services offered. Rather, the change would alleviate possible market participant confusion by making it easier to find Included Data Products in the table. For these reasons, the Exchange believes that the proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\16\ the Exchange believes that the proposed rule change will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because, in addition to the use of co-location services being completely voluntary, they are available to all Users on an equal basis (i.e., the same range of products and services are available to all Users). --------------------------------------------------------------------------- \16\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange believes that the proposed change would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because the change would result in CHX, which will be an affiliate of the Exchange and Affiliate SROs, being treated on the same terms and in the same manner as the Exchange and the Affiliate SROs with respect to their trading and execution systems and data products. As a result of the proposed changes, all Users that voluntarily select to access the LCN or IP network would receive the same access to the CHX trading and execution systems and connectivity to CHX data as to those of the Exchange and the Affiliate SROs and would not be subject to a charge above and beyond the fee paid for the relevant LCN or IP network access. A User would not be required to use any of its bandwidth to access the CHX trading and execution system or connect to CHX data unless it wishes to do so. The proposed change would result in reduced fees for Users that have access or connectivity to CHX, as it would no longer be a Third Party System or Third Party Data Feed. The Exchange believes that the proposed non-substantive change to put the table of Included Data Products into alphabetical order would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because the change would have no impact on pricing or the services offered. Rather, the change would alleviate possible market participant confusion by making it easier to find Included Data Products in the table. [[Page 37552]] C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. 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 \17\ and Rule 19b-4(f)(6) thereunder.\18\ 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.\19\ --------------------------------------------------------------------------- \17\ 15 U.S.C. 78s(b)(3)(A)(iii). \18\ 17 CFR 240.19b-4(f)(6). \19\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \20\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(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 requests that the Commission waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange represents that the requested wavier would ensure that immediately upon the closing of the Transaction CHX would be treated on the same terms and in the same manner as the Exchange and the Affiliate SROs with respect to their trading and execution systems and data products. The waiver would allow the Exchange to expand the definition of Exchange Systems to incorporate CHX's trading and execution systems, add CHX's data products to the table of Included Data Products, and remove CHX from the lists of Third Party Systems and Third Party Data Feeds immediately upon the closing of the Transaction. In addition, it would implement the reduced fee for Users that currently have access or connectivity to CHX immediately upon Closing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission waives the 30-day operative delay and designates the proposed rule change 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). --------------------------------------------------------------------------- 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) \23\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \23\ 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-NYSE-2018-35 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-NYSE-2018-35. 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-NYSE-2018-35 and should be submitted on or before August 22, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\24\ --------------------------------------------------------------------------- \24\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2018-16422 Filed 7-31-18; 8:45 am] BILLING CODE 8011-01-P
![37548 Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Notices
necessary or appropriate in furtherance Exchange to expand the definition of comments more efficiently, please use
of the purposes of the Act because the Exchange Systems to incorporate CHX’s only one method. The Commission will
change would have no impact on trading and execution systems, add post all comments on the Commission’s
pricing or the services offered. Rather, CHX’s data products to the table of internet website (http://www.sec.gov/
the change would alleviate possible Included Data Products, and remove rules/sro.shtml). Copies of the
market participant confusion by making CHX from the lists of Third Party submission, all subsequent
it easier to find Included Data Products Systems and Third Party Data Feeds amendments, all written statements
in the table. immediately upon the closing of the with respect to the proposed rule
Transaction. In addition, it would change that are filed with the
C. Self-Regulatory Organization’s
implement the reduced fee for Users Commission, and all written
Statement on Comments on the
that currently have access or communications relating to the
Proposed Rule Change Received From
connectivity to CHX immediately upon proposed rule change between the
Members, Participants, or Others
Closing. The Commission believes that Commission and any person, other than
No written comments were solicited waiving the 30-day operative delay is those that may be withheld from the
or received with respect to the proposed consistent with the protection of public in accordance with the
rule change. investors and the public interest. provisions of 5 U.S.C. 552, will be
III. Date of Effectiveness of the Accordingly, the Commission waives available for website viewing and
Proposed Rule Change and Timing for the 30-day operative delay and printing in the Commission’s Public
Commission Action designates the proposed rule change Reference Room, 100 F Street NE,
operative upon filing.22 Washington, DC 20549 on official
The Exchange has filed the proposed At any time within 60 days of the business days between the hours of
rule change pursuant to Section filing of such proposed rule change, the
19(b)(3)(A)(iii) of the Act 17 and Rule 10:00 a.m. and 3:00 p.m. Copies of the
Commission summarily may filing also will be available for
19b–4(f)(6) thereunder.18 Because the temporarily suspend such rule change if
proposed rule change does not: (i) inspection and copying at the principal
it appears to the Commission that such office of the Exchange. All comments
Significantly affect the protection of action is necessary or appropriate in the
investors or the public interest; (ii) received will be posted without change.
public interest, for the protection of Persons submitting comments are
impose any significant burden on investors, or otherwise in furtherance of
competition; and (iii) become operative cautioned that we do not redact or edit
the purposes of the Act. If the personal identifying information from
prior to 30 days from the date on which Commission takes such action, the
it was filed, or such shorter time as the comment submissions. You should
Commission shall institute proceedings submit only information that you wish
Commission may designate, if under Section 19(b)(2)(B) 23 of the Act to
consistent with the protection of to make available publicly. All
determine whether the proposed rule submissions should refer to File
investors and the public interest, the change should be approved or
proposed rule change has become Number SR–NYSEARCA–2018–53 and
disapproved. should be submitted on or before
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii) IV. Solicitation of Comments August 22, 2018.
thereunder.19 Interested persons are invited to For the Commission, by the Division of
A proposed rule change filed under submit written data, views, and Trading and Markets, pursuant to delegated
Rule 19b–4(f)(6) 20 normally does not arguments concerning the foregoing, authority.24
become operative prior to 30 days after including whether the proposed rule Robert W. Errett,
the date of the filing. However, pursuant change is consistent with the Act. Deputy Secretary.
to Rule 19b4(f)(6)(iii),21 the Commission Comments may be submitted by any of [FR Doc. 2018–16421 Filed 7–31–18; 8:45 am]
may designate a shorter time if such the following methods: BILLING CODE 8011–01–P
action is consistent with the protection
of investors and the public interest. The Electronic Comments
Exchange requests that the Commission • Use the Commission’s internet SECURITIES AND EXCHANGE
waive the 30-day operative delay so that comment form (http://www.sec.gov/ COMMISSION
the proposal may become operative rules/sro.shtml); or
immediately upon filing. The Exchange • Send an email to rule-comments@
[Release No. 34–83717; File No. SR–NYSE–
represents that the requested wavier sec.gov. Please include File Number SR– 2018–35]
would ensure that immediately upon NYSEARCA–2018–53 on the subject
the closing of the Transaction CHX line. Self-Regulatory Organizations; New
would be treated on the same terms and Paper Comments York Stock Exchange LLC; Notice of
in the same manner as the Exchange and Filing and Immediate Effectiveness of
the Affiliate SROs with respect to their • Send paper comments in triplicate Proposed Rule Change To Amend Its
trading and execution systems and data to Secretary, Securities and Exchange Price List Related to Co-Location
products. The waiver would allow the Commission, 100 F Street NE, Services in Connection With a
Washington, DC 20549–1090. Proposed Transaction With the
17 15 U.S.C. 78s(b)(3)(A)(iii). All submissions should refer to File Chicago Stock Exchange, Inc.
18 17 CFR 240.19b–4(f)(6). Number SR–NYSEARCA–2018–53. This Exchange and Its Parent, CHX
19 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
file number should be included on the
sradovich on DSK3GMQ082PROD with NOTICES
4(f)(6) requires a self-regulatory organization to give Holdings, Inc.
the Commission written notice of its intent to file
subject line if email is used. To help the
the proposed rule change at least five business days Commission process and review your July 26, 2018.
prior to the date of filing of the proposed rule Pursuant to Section 19(b)(1) 1 of the
change, or such shorter time as designated by the 22 For
purposes only of waiving the 30-day
Commission. The Exchange has satisfied this
Securities Exchange Act of 1934
operative delay, the Commission has considered the
requirement. proposed rule’s impact on efficiency, competition,
20 17 CFR 240.19b–4(f)(6). and capital formation. See 15 U.S.C. 78c(f). 24 17 CFR 200.30–3(a)(12).
21 17 CFR 240.19b–4(f)(6)(iii). 23 15 U.S.C. 78s(b)(2)(B). 1 15 U.S.C. 78s(b)(1).
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![37552 Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Notices
C. Self-Regulatory Organization’s Transaction. In addition, it would Commission, and all written
Statement on Comments on the implement the reduced fee for Users communications relating to the
Proposed Rule Change Received From that currently have access or proposed rule change between the
Members, Participants, or Others connectivity to CHX immediately upon Commission and any person, other than
No written comments were solicited Closing. The Commission believes that those that may be withheld from the
or received with respect to the proposed waiving the 30-day operative delay is public in accordance with the
rule change. consistent with the protection of provisions of 5 U.S.C. 552, will be
investors and the public interest. available for website viewing and
III. Date of Effectiveness of the Accordingly, the Commission waives printing in the Commission’s Public
Proposed Rule Change and Timing for the 30-day operative delay and Reference Room, 100 F Street NE,
Commission Action designates the proposed rule change Washington, DC 20549 on official
The Exchange has filed the proposed operative upon filing.22 business days between the hours of
rule change pursuant to Section At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the
19(b)(3)(A)(iii) of the Act 17 and Rule filing of such proposed rule change, the filing also will be available for
19b–4(f)(6) thereunder.18 Because the Commission summarily may inspection and copying at the principal
proposed rule change does not: (i) temporarily suspend such rule change if office of the Exchange. All comments
Significantly affect the protection of it appears to the Commission that such received will be posted without change.
investors or the public interest; (ii) action is necessary or appropriate in the Persons submitting comments are
impose any significant burden on public interest, for the protection of cautioned that we do not redact or edit
competition; and (iii) become operative investors, or otherwise in furtherance of personal identifying information from
prior to 30 days from the date on which the purposes of the Act. If the comment submissions. You should
it was filed, or such shorter time as the Commission takes such action, the submit only information that you wish
Commission may designate, if Commission shall institute proceedings to make available publicly. All
consistent with the protection of under Section 19(b)(2)(B) 23 of the Act to submissions should refer to File
investors and the public interest, the determine whether the proposed rule Number SR–NYSE–2018–35 and should
proposed rule change has become change should be approved or be submitted on or before August 22,
disapproved. 2018.
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii) IV. Solicitation of Comments For the Commission, by the Division of
thereunder.19 Trading and Markets, pursuant to delegated
Interested persons are invited to authority.24
A proposed rule change filed under submit written data, views, and
Rule 19b–4(f)(6) 20 normally does not Robert W. Errett,
arguments concerning the foregoing,
become operative prior to 30 days after Deputy Secretary.
including whether the proposed rule
the date of the filing. However, pursuant change is consistent with the Act. [FR Doc. 2018–16422 Filed 7–31–18; 8:45 am]
to Rule 19b4(f)(6)(iii),21 the Commission Comments may be submitted by any of BILLING CODE 8011–01–P
may designate a shorter time if such the following methods:
action is consistent with the protection
of investors and the public interest. The Electronic Comments SECURITIES AND EXCHANGE
Exchange requests that the Commission • Use the Commission’s internet COMMISSION
waive the 30-day operative delay so that comment form (http://www.sec.gov/ [Release No. 34–83715; File No. SR–
the proposal may become operative rules/sro.shtml); or NYSENAT–2018–17]
immediately upon filing. The Exchange • Send an email to rule-comments@
represents that the requested wavier sec.gov. Please include File Number SR– Self-Regulatory Organizations; NYSE
would ensure that immediately upon NYSE–2018–35 on the subject line. National, Inc.; Notice of Filing and
the closing of the Transaction CHX Immediate Effectiveness of Proposed
Paper Comments Rule Change To Amend Its Schedule of
would be treated on the same terms and
in the same manner as the Exchange and • Send paper comments in triplicate Fees and Rebates Related to Co-
the Affiliate SROs with respect to their to Secretary, Securities and Exchange Location Services in Connection With
trading and execution systems and data Commission, 100 F Street NE, a Proposed Transaction With the
products. The waiver would allow the Washington, DC 20549–1090. Chicago Stock Exchange, Inc.
Exchange to expand the definition of All submissions should refer to File Exchange and Its Parent, CHX
Exchange Systems to incorporate CHX’s Number SR–NYSE–2018–35. This file Holdings, Inc.
trading and execution systems, add number should be included on the
July 26, 2018.
CHX’s data products to the table of subject line if email is used. To help the
Commission process and review your Pursuant to Section 19(b)(1) 1 of the
Included Data Products, and remove
comments more efficiently, please use Securities Exchange Act of 1934
CHX from the lists of Third Party
only one method. The Commission will (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Systems and Third Party Data Feeds
post all comments on the Commission’s notice is hereby given that on July 16,
immediately upon the closing of the
internet website (http://www.sec.gov/ 2018, NYSE National, Inc. (‘‘Exchange’’
17 15 U.S.C. 78s(b)(3)(A)(iii). rules/sro.shtml). Copies of the or ‘‘NYSE National’’) filed with the
18 17 CFR 240.19b–4(f)(6). submission, all subsequent Securities and Exchange Commission
19 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
amendments, all written statements (‘‘Commission’’) the proposed rule
sradovich on DSK3GMQ082PROD with NOTICES
4(f)(6) requires a self-regulatory organization to give
with respect to the proposed rule change as described in Items I and II
the Commission written notice of its intent to file below, which Items have been prepared
the proposed rule change at least five business days change that are filed with the
prior to the date of filing of the proposed rule
by the self-regulatory organization. The
change, or such shorter time as designated by the 22 For purposes only of waiving the 30-day
24 17 CFR 200.30–3(a)(12).
Commission. The Exchange has satisfied this operative delay, the Commission has considered the
requirement. proposed rule’s impact on efficiency, competition, 1 15 U.S.C. 78s(b)(1).
20 17 CFR 240.19b–4(f)(6). and capital formation. See 15 U.S.C. 78c(f). 2 15 U.S.C. 78a.
21 17 CFR 240.19b–4(f)(6)(iii). 23 15 U.S.C. 78s(b)(2)(B). 3 17 CFR 240.19b–4.
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Document Created: 2018-08-01 01:22:30
Document Modified: 2018-08-01 01:22:30
| 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 37548 |
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