83 FR 39804 - Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Silexx Trading Platform Fees Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 155 (August 10, 2018)
Federal Register Volume 83, Issue 155 (August 10, 2018)
| Page Range | 39804-39806 | |
| FR Document | 2018-17122 |
[Federal Register Volume 83, Number 155 (Friday, August 10, 2018)] [Notices] [Pages 39804-39806] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-17122] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83782; File No. SR-CBOE-2018-053] Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Silexx Trading Platform Fees Schedule August 6, 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 July 31, 2018, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe Options'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III 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 purpose of this filing is to amend the Silexx Fees Schedule to introduce a waiver of Login ID fees for the first month for new users of any of the Silexx platforms and eliminate obsolete language. The text of the proposed rule change is also available on the Exchange's website (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, 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 the Silexx Fees Schedule to introduce a waiver of Login ID fees for the first month for new users of any of the Silexx platforms and eliminate obsolete language. By way of background, Silexx is an order entry and management trading platform for listed stocks and options that support both simple and complex orders.\3\ The platform is a software application that is installed locally on a user's desktop. It provides users with the capability to send option orders to U.S. options exchanges and stock orders to U.S. stock exchanges (and other trading centers), and allows users to input parameters to control the size, timing, and other variables of their trades. Silexx includes access to real-time options and stock market data, as well as access to certain historical data. The platform also provides users with the ability to maintain an electronic audit trail and provide detailed trade reporting. In addition, Silexx offers other functionality such as access to crossing orders tickets, equity order reports, and market data feeds (for specific fees). Use of Silexx is completely optional. --------------------------------------------------------------------------- \3\ The platform also permits users to submit orders for commodity futures, commodity options and other non-security products to be sent to designated contract markets, futures commission merchants, introducing brokers or other applicable destinations of the users' choice. --------------------------------------------------------------------------- Login IDs Platform Login IDs may be purchased for different versions of the platform, including Basic, Pro, Sell-Side, Pro Plus [[Page 39805]] Risk, and Buy-Side Manager. The Exchange now proposes to provide that Login ID fees are waived for the first month for any new user firm (i.e., a firm that has never used any Silexx platform before).\4\ The proposed fee waivers apply during the calendar month in which Login IDs are first subscribed.\5\ --------------------------------------------------------------------------- \4\ For example, if a new firm subscribes to 3 Basic Login IDs and 4 Pro Login IDs in August 2018, all 7 Login IDs will be waived for the month of August 2018. All other applicable Silexx fees would apply. \5\ For example, if a new firm subscribes to a Silexx Login ID on August 15th, the firm's Login ID fee would be waived for the month of August 2018 only. --------------------------------------------------------------------------- Clean Up Change The Exchange recently introduced a two-month free-upgrade period for users that are currently on Silexx Basic. The upgrade allowed users of Silexx Basic to use the functionality of Silexx Pro for a period of two months (May 1, 2018 through June 30, 2018) at the current Silexx Basic rate of $200 per month per Login ID. After the two-month period ends, beginning July 1, 2018, the users were to be charged at the Silexx Pro rate of $400 per month until they choose to downgrade. As the free-upgrade period has since ended, the Exchange proposes to delete the obsolete language and eliminate the reference in the Silexx Fees Schedule These proposed changes to the Silexx Fees Schedule are to take effect on August 1, 2018. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\6\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \7\ requirements that the rules of an exchange be 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 mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with Section 6(b)(4) of the Act,\8\ which requires that Exchange rules provide for the equitable allocation of reasonable dues, fees, and other charges among its Trading Permit Holders and other persons using its facilities. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b). \7\ 15 U.S.C. 78f(b)(5). \8\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- Particularly, the Exchange believes the proposed fee waiver provides for the equitable allocation of reasonable fees because the waiver of Platform Login ID fees for the first month will apply to all new users of new firms, regardless of which version of the platform they subscribe to. Additionally, the Exchange believes the proposed fee waiver is reasonable because new user firms will not have to pay those fees and because it serves as an incentive to market participants to start using the Silexx platform as an additional trading tool on their trading desks. The Exchange also notes that use of the platform is discretionary and not compulsory. Lastly, the Exchange believes eliminating obsolete language maintains clarity in the Silexx Fees Schedule and alleviates potential confusion, thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system, and, in general, protecting investors and the public interest. B. Self-Regulatory Organization's Statement on Burden on Competition Cboe Options does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange believes that the proposed rule change will not impose any burden on intramarket competition because the proposed rule change applies to all new user firms of Silexx. The Exchange notes that each version of Silexx is available to all market participants, and users have discretion to determine which version of the platform they register for based on functionality. The Exchange does not believe that the proposed rule changes will impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act because the proposed change applies only to Cboe Options. To the extent that the proposed changes make Cboe Options a more attractive marketplace for market participants at other exchanges, such market participants are welcome to become Cboe Options market participants. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \9\ and paragraph (f) of Rule 19b-4 \10\ thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission will institute proceedings to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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-CBOE-2018-053 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-CBOE-2018-053. 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 [[Page 39806]] 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. All submissions should refer to File Number SR-CBOE-2018- 053 and should be submitted on or before August 31, 2018. --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-17122 Filed 8-9-18; 8:45 am] BILLING CODE 8011-01-P
![39804 Federal Register / Vol. 83, No. 155 / Friday, August 10, 2018 / Notices
believes that waiver of the operative business days between the hours of CBOELegalRegulatoryHome.aspx), at
delay is consistent with the protection 10:00 a.m. and 3:00 p.m. Copies of the the Exchange’s Office of the Secretary,
of investors and the public interest. filing also will be available for and at the Commission’s Public
Accordingly, the Commission hereby inspection and copying at the principal Reference Room.
waives the operative delay and office of FINRA. All comments received
II. Self-Regulatory Organization’s
designates the proposal as operative will be posted without change. Persons
Statement of the Purpose of, and
upon filing.10 submitting comments are cautioned that
Statutory Basis for, the Proposed Rule
At any time within 60 days of the we do not redact or edit personal
Change
filing of the proposed rule change, the identifying information from comment
Commission summarily may submissions. You should submit only In its filing with the Commission, the
temporarily suspend such rule change if information that you wish to make Exchange included statements
it appears to the Commission that such available publicly. All submissions concerning the purpose of and basis for
action is necessary or appropriate in the should refer to File Number SR–FINRA– the proposed rule change and discussed
public interest, for the protection of 2018–027 and should be submitted on any comments it received on the
investors, or otherwise in furtherance of or before August 31, 2018. proposed rule change. The text of these
the purposes of the Act statements may be examined at the
For the Commission, by the Division of
Trading and Markets, pursuant to delegated places specified in Item IV below. The
IV. Solicitation of Comments authority.11 Exchange has prepared summaries, set
Interested persons are invited to Eduardo A. Aleman, forth in sections A, B, and C below, of
submit written data, views and Assistant Secretary.
the most significant aspects of such
arguments concerning the foregoing, statements.
[FR Doc. 2018–17123 Filed 8–9–18; 8:45 am]
including whether the proposed rule BILLING CODE 8011–01–P A. Self-Regulatory Organization’s
change is consistent with the Act. Statement of the Purpose of, and
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
the following methods: SECURITIES AND EXCHANGE Change
Electronic Comments COMMISSION
1. Purpose
• Use the Commission’s internet [Release No. 34–83782; File No. SR–CBOE– The purpose of this filing is to amend
2018–053]
comment form (http://www.sec.gov/ the Silexx Fees Schedule to introduce a
rules/sro.shtml); or Self-Regulatory Organizations; Cboe waiver of Login ID fees for the first
• Send an email to rule-comments@ Exchange, Inc.; Notice of Filing and month for new users of any of the Silexx
sec.gov. Please include File Number SR– Immediate Effectiveness of a Proposed platforms and eliminate obsolete
FINRA–2018–027 on the subject line. Rule Change Relating to the Silexx language.
Trading Platform Fees Schedule By way of background, Silexx is an
Paper Comments order entry and management trading
• Send paper comments in triplicate August 6, 2018. platform for listed stocks and options
to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) of the that support both simple and complex
Commission, 100 F Street NE, Securities Exchange Act of 1934 (the orders.3 The platform is a software
Washington, DC 20549–1090. ‘‘Act’’),1 and Rule 19b–4 thereunder,2 application that is installed locally on a
All submissions should refer to File notice is hereby given that on July 31, user’s desktop. It provides users with
Number SR–FINRA–2018–027. This file 2018, Cboe Exchange, Inc. (the the capability to send option orders to
number should be included on the ‘‘Exchange’’ or ‘‘Cboe Options’’) filed U.S. options exchanges and stock orders
subject line if email is used. To help the with the Securities and Exchange to U.S. stock exchanges (and other
Commission process and review your Commission (the ‘‘Commission’’) the trading centers), and allows users to
comments more efficiently, please use proposed rule change as described in input parameters to control the size,
only one method. The Commission will Items I, II, and III below, which Items timing, and other variables of their
post all comments on the Commission’s have been prepared by the Exchange. trades. Silexx includes access to real-
internet website (http://www.sec.gov/ The Commission is publishing this time options and stock market data, as
rules/sro.shtml). Copies of the notice to solicit comments on the well as access to certain historical data.
submission, all subsequent proposed rule change from interested The platform also provides users with
amendments, all written statements persons. the ability to maintain an electronic
with respect to the proposed rule audit trail and provide detailed trade
I. Self-Regulatory Organization’s reporting. In addition, Silexx offers
change that are filed with the Statement of the Terms of Substance of
Commission, and all written other functionality such as access to
the Proposed Rule Change crossing orders tickets, equity order
communications relating to the
proposed rule change between the The purpose of this filing is to amend reports, and market data feeds (for
Commission and any person, other than the Silexx Fees Schedule to introduce a specific fees). Use of Silexx is
those that may be withheld from the waiver of Login ID fees for the first completely optional.
public in accordance with the month for new users of any of the Silexx
Login IDs
provisions of 5 U.S.C. 552, will be platforms and eliminate obsolete
language. Platform Login IDs may be purchased
available for website viewing and for different versions of the platform,
The text of the proposed rule change
daltland on DSKBBV9HB2PROD with NOTICES
printing in the Commission’s Public including Basic, Pro, Sell-Side, Pro Plus
Reference Room, 100 F Street NE, is also available on the Exchange’s
Washington, DC 20549, on official website (http://www.cboe.com/
3 The platform also permits users to submit orders
AboutCBOE/
for commodity futures, commodity options and
10 For purposes only of waiving the 30-day other non-security products to be sent to designated
11 17 CFR 200.30–3(a)(12).
operative delay, the Commission has considered the contract markets, futures commission merchants,
1 15 U.S.C. 78s(b)(1).
proposed rule’s impact on efficiency, competition, introducing brokers or other applicable destinations
and capital formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. of the users’ choice.
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![39806 Federal Register / Vol. 83, No. 155 / Friday, August 10, 2018 / Notices
Reference Room, 100 F Street NE, DEPARTMENT OF STATE DEPARTMENT OF STATE
Washington, DC 20549 on official
business days between the hours of [Public Notice: 10495] [Public Notice: 10497]
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for Notice of Determinations; Culturally Notice of Determinations; Culturally
inspection and copying at the principal Significant Objects Imported for Significant Objects Imported for
office of the Exchange. All comments Exhibition—Determinations: Exhibition Exhibition—Determinations:
received will be posted without change. of Two Renaissance-Era Italian ‘‘Celebrating Tintoretto: Portrait
Persons submitting comments are Paintings Paintings and Studio Drawings’’
cautioned that we do not redact or edit Exhibition
personal identifying information from SUMMARY: Notice is hereby given of the
comment submissions. All submissions following determinations: I hereby SUMMARY: Notice is hereby given of the
should refer to File Number SR–CBOE– determine that two objects to be following determinations: I hereby
2018–053 and should be submitted on exhibited in the Italian Renaissance determine that certain objects to be
or before August 31, 2018. Paintings Gallery of The J. Paul Getty included in the exhibition ‘‘Celebrating
For the Commission, by the Division of
Museum at the Getty Center, imported Tintoretto: Portrait Paintings and Studio
Trading and Markets, pursuant to delegated from abroad for temporary exhibition Drawings,’’ imported from abroad for
authority.11 within the United States, are of cultural temporary exhibition within the United
significance. The objects are imported States, are of cultural significance. The
Eduardo A. Aleman,
pursuant to a loan agreement with the objects are imported pursuant to loan
Assistant Secretary.
foreign owner or custodian. I also agreements with the foreign owners or
[FR Doc. 2018–17122 Filed 8–9–18; 8:45 am]
determine that the exhibition or display custodians. I also determine that the
BILLING CODE 8011–01–P of the exhibit objects at The J. Paul Getty exhibition or display of the exhibit
Museum at the Getty Center, Los objects at The Metropolitan Museum of
Angeles, California, from on or about Art, New York, New York, from on or
December 17, 2018, until on or about about October 15, 2018, until on or
DEPARTMENT OF STATE August 5, 2019, and at possible about January 27, 2019, and at possible
additional exhibitions or venues yet to additional exhibitions or venues yet to
[Public Notice: 10493] be determined, is in the national be determined, is in the national
interest. I have ordered that Public interest. I have ordered that Public
Determination Under Section
Notice of these determinations be Notice of these determinations be
7070(c)(1) of the Department of State,
published in the Federal Register. published in the Federal Register.
Foreign Operations, and Related
Programs Appropriations Act, 2018 FOR FURTHER INFORMATION CONTACT: Julie FOR FURTHER INFORMATION CONTACT: Julie
Regarding the Government of Nauru Simpson, Attorney-Adviser, Office of Simpson, Attorney-Adviser, Office of
the Legal Adviser, U.S. Department of the Legal Adviser, U.S. Department of
Pursuant to section 7070(c)(1) of the State (telephone: 202–632–6471; email: State (telephone: 202–632–6471; email:
Department of State, Foreign section2459@state.gov). The mailing section2459@state.gov). The mailing
Operations, and Related Programs address is U.S. Department of State, address is U.S. Department of State,
Appropriations Act, 2018 (Div. K, Pub. L/PD, SA–5, Suite 5H03, Washington, L/PD, SA–5, Suite 5H03, Washington,
L. 115–141), I hereby determine, by DC 20522–0505. DC 20522–0505.
delegation from the Secretary of State,
SUPPLEMENTARY INFORMATION: The SUPPLEMENTARY INFORMATION: The
that the Government of Nauru has
foregoing determinations were made foregoing determinations were made
recognized the independence of, or has
pursuant to the authority vested in me pursuant to the authority vested in me
established diplomatic relations with,
by the Act of October 19, 1965 (79 Stat. by the Act of October 19, 1965 (79 Stat.
the Georgian territories of Abkhazia and
985; 22 U.S.C. 2459), E.O. 12047 of 985; 22 U.S.C. 2459), E.O. 12047 of
Tskhinvali Region/South Ossetia.
March 27, 1978, the Foreign Affairs March 27, 1978, the Foreign Affairs
This determination shall be published Reform and Restructuring Act of 1998 Reform and Restructuring Act of 1998
in the Federal Register and on the (112 Stat. 2681, et seq.; 22 U.S.C. 6501 (112 Stat. 2681, et seq.; 22 U.S.C. 6501
Department of State website and, along note, et seq.), Delegation of Authority note, et seq.), Delegation of Authority
with the accompanying Memorandum No. 234 of October 1, 1999, Delegation No. 234 of October 1, 1999, Delegation
of Justification, shall be reported to of Authority No. 236–3 of August 28, of Authority No. 236–3 of August 28,
Congress. 2000, and Delegation of Authority No. 2000, and Delegation of Authority No.
Dated: July 30, 2018. 236–11 of July 27, 2018. 236–11 of July 27, 2018.
John J. Sullivan, Jennifer Z. Galt, Jennifer Z. Galt,
Deputy Secretary of State. Principal Deputy Assistant Secretary for Principal Deputy Assistant Secretary for
[FR Doc. 2018–17109 Filed 8–9–18; 8:45 am] Educational and Cultural Affairs, Department Educational and Cultural Affairs, Department
BILLING CODE 4710–30–P of State. of State.
daltland on DSKBBV9HB2PROD with NOTICES
[FR Doc. 2018–17148 Filed 8–9–18; 8:45 am] [FR Doc. 2018–17169 Filed 8–9–18; 8:45 am]
BILLING CODE 4710–05–P BILLING CODE 4710–05–P
11 17 CFR 200.30–3(a)(12).
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Document Created: 2018-08-10 01:56:40
Document Modified: 2018-08-10 01:56:40
| 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 39804 |
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