83 FR 40371 - Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 1.5 Definitions and Exchange Rule 14.1 Unlisted Trading Privileges
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 157 (August 14, 2018)
Federal Register Volume 83, Issue 157 (August 14, 2018)
| Page Range | 40371-40373 | |
| FR Document | 2018-17394 |
[Federal Register Volume 83, Number 157 (Tuesday, August 14, 2018)] [Notices] [Pages 40371-40373] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-17394] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-83798; File No. SR-CboeBYX-2018-013] Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 1.5 Definitions and Exchange Rule 14.1 Unlisted Trading Privileges August 8, 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 25, 2018, Cboe BYX Exchange, Inc. (the ``Exchange'' or ``BYX'') 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 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 Rule 1.5(c), which defines the After Hours Trading Session, to allow trading until 8:00 p.m. ET. 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 offers four distinct trading sessions where the Exchange accepts orders for potential execution: (1) The ``Early Trading Session,'' which begins at 7:00 a.m. Eastern Time (``ET'') and continues until 8:00 a.m. ET,\5\ (2) the ``Pre-Opening Session,'' which begins at 8:00 a.m. ET and continues until 9:30 a.m. ET,\6\ (3) ``Regular Trading Hours,'' which begin at 9:30 a.m. ET and continue until 4:00 p.m. ET,\7\ and (4) the ``After Hours Trading Session,'' which begins at 4:00 p.m. ET and continues until 5:00 p.m. ET.\8\ Users \9\ may designate when their orders are eligible for execution by selecting their desired Time-in-Force instruction.\10\ --------------------------------------------------------------------------- \5\ ``Early Trading Session'' means the time between 7:00 a.m. and 8:00 a.m. ET. See Rule 1.5(ee). \6\ ``Pre-Opening Session'' means the time between 8:00 a.m. and 9:30 a.m. ET. See Rule 1.5(r). \7\ ``Regular Trading Hours'' means the time between 9:30 a.m. and 4:00 p.m. ET. See Rule 1.5(w). \8\ ``After Hours Trading Session'' means the time between 4:00 p.m. and 5:00 p.m. ET. See Rule 1.5(c). \9\ ``User'' means any Member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3. See Rule 1.5(cc). \10\ See Rule 11.9(b). --------------------------------------------------------------------------- The purpose of the proposed rule change is to amend Rule 1.5(c), which defines the After Hours Trading Session, to allow trading until 8:00 p.m. ET, consistent with the hours currently available on the Exchange's affiliates Cboe EDGX Exchange, Inc. (``EDGX'') and Cboe EDGA Exchange, Inc. (``EDGA'').\11\ The After Hours Trading [[Page 40372]] Session will continue to begin after Regular Trading Hours end at 4:00 p.m. ET but instead of ending at 5:00 p.m. ET, as is the case today, will now be available until 8:00 p.m. ET similar to the EGDX and EDGA markets. Rule 11.1(a), which was inadvertently modified in November 2014 to include an 8:00 p.m. ET cutoff for entering orders as part of a proposed rule change to accept orders beginning at 6:00 a.m. ET,\12\ will not be amended by this proposed rule change as the Exchange will now accept orders until 8:00 p.m. ET as described in that rule. --------------------------------------------------------------------------- \11\ See EDGX and EDGA Rule 1.5(r), which both define ``Post- Closing Session'' as the time between 4:00 p.m. and 8:00 p.m. ET. \12\ See Securities Exchange Act Release No. 73744 (December 4, 2014), 79 FR 73369 (December 10, 2014) (SR-BYX-2014-036). --------------------------------------------------------------------------- The Exchange's affiliate Cboe BZX Exchange, Inc. (``BZX'') is also filing to extend its trading hours to 8:00 p.m. ET.\13\ The proposed rule change will therefore promote a consistent experience for market participants across all four equities markets operated by Cboe Global Markets, Inc. Orders entered for participation in the After Hours Trading Session will continue to be handled in the same manner as today, with the exception that the Exchange will now accept those orders until 8:00 p.m. ET, thereby providing additional time for market participants to source liquidity outside of Regular Trading Hours. The Exchange therefore believes that amending Rule 1.5(c) to extend the Exchange's trading hours will be benefit investors that will now be able to trade on the Exchange later in the day. --------------------------------------------------------------------------- \13\ See SR-CboeBZX-2018-052 (pending publication). --------------------------------------------------------------------------- In addition, Rule 14.1(c)(2), which provides that the Exchange must distribute an information circular for UTP Derivative Securities that, among other things, includes information about the risks of trading during the Exchange's various trading sessions also specifically references the time that the Exchange is open for trading (i.e., until 5:00 p.m. ET today). The Exchange therefore proposes to update references to the Exchange's hours of operation in that rule in connection with the changes to extend the After Hours Trading Session to 8:00 p.m. ET. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \14\ in general, and furthers the objectives of Section 6(b)(5) of the Act \15\ 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. Specifically, the Exchange believes that the proposed rule change will benefit market participants by providing additional opportunities to transact on the Exchange later in the trading day. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b). \15\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- As explained in the purpose section of this proposed rule change, the Exchange currently accepts orders in its After Hours Trading Session until 5:00 p.m. ET, while two of its affiliated exchanges (i.e., EDGX and EDGA) currently have a Post-Closing Session that ends at 8:00 p.m. ET.\16\ The Exchange believes that market participants would benefit from a longer After Hours Trading Session on the Exchange too, and is therefore proposing to extend its After Hours Trading Session to the same time as its affiliated markets. The Exchange believes that this change will provide additional opportunities for firms to source liquidity for their orders on the Exchange. Furthermore, the proposed rule change will ensure that Members have a similar experience when trading on all four Cboe equities markets. For the reasons set forth above, the Exchange believes the proposal removes impediments to and perfects the mechanism of a free and open market and a national market system, and, in general, protects investors and the public interest. --------------------------------------------------------------------------- \16\ See supra note 11. --------------------------------------------------------------------------- In addition, the Exchange believes that the proposed change to Rule 14.1 is consistent with the Act because that change updates the rule to reference the proposed 8:00 p.m. ET time that the Exchange would accept orders in the After Hours Trading Session. No further substantive changes to that rule is proposed. The Exchange believes that it is appropriate to update all rules that specifically reference the Exchange's hours of operation so that the rules properly reflect the changes to the After Hours Trading Session being implemented in this proposed rule change. (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 Exchange does not believe that the proposed rule change would have any significant impact on inter-market competition as the Exchange's affiliated exchanges already allow after hours trading until 8:00 p.m. ET, and other markets are free to provide similar trading hours. Furthermore, the Exchange does not believe that the proposed rule change would have any significant impact on intra-market competition as all Members would be able to enter orders later in the day due to the extended After Hours Trading Session. (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) of the Act \17\ and Rule 19b- 4(f)(6) thereunder.\18\ --------------------------------------------------------------------------- \17\ 15 U.S.C. 78s(b)(3)(A). \18\ 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. --------------------------------------------------------------------------- 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 change should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposal is consistent with the Act. Comments may be submitted by any of the following methods: [[Page 40373]] 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-CboeBYX-2018-013 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-CboeBYX-2018-013. 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 such filing will also 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-CboeBYX-2018-013 and should be submitted on or before September 4, 2018. --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-17394 Filed 8-13-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices 40371
Commission summarily may Persons submitting comments are www.markets.cboe.com, at the principal
temporarily suspend such rule change if cautioned that we do not redact or edit office of the Exchange, and at the
it appears to the Commission that such personal identifying information from Commission’s Public Reference Room.
action is necessary or appropriate in the comment submissions. You should
II. Self-Regulatory Organization’s
public interest, for the protection of submit only information that you wish
Statement of the Purpose of, and
investors, or otherwise in furtherance of to make available publicly. All
Statutory Basis for, the Proposed Rule
the purposes of the Act. If the submissions should refer to File
Commission takes such action, the Change
Number SR–IEX–2018–16 and should
Commission shall institute proceedings be submitted on or before September 4, In its filing with the Commission, the
under Section 19(b)(2)(B) 36 of the Act to 2018. Exchange included statements
determine whether the proposed rule concerning the purpose of and basis for
For the Commission, by the Division of
change should be approved or Trading and Markets, pursuant to delegated the proposed rule change and discussed
disapproved. authority.37 any comments it received on the
Eduardo A. Aleman, proposed rule change. The text of these
IV. Solicitation of Comments statements may be examined at the
Assistant Secretary.
Interested persons are invited to places specified in Item IV below. The
[FR Doc. 2018–17396 Filed 8–13–18; 8:45 am]
submit written data, views and Exchange has prepared summaries, set
arguments concerning the foregoing, BILLING CODE 8011–01–P
forth in Sections A, B, and C below, of
including whether the proposed rule the most significant parts of such
change is consistent with the Act. statements.
Comments may be submitted by any of SECURITIES AND EXCHANGE
the following methods: COMMISSION (A) Self-Regulatory Organization’s
[Release No. 34–83798; File No. SR– Statement of the Purpose of, and
Electronic Comments CboeBYX–2018–013] Statutory Basis for, the Proposed Rule
• Use the Commission’s internet Change
comment form (http://www.sec.gov/ Self-Regulatory Organizations; Cboe
1. Purpose
rules/sro.shtml); or BYX Exchange, Inc.; Notice of Filing
• Send an email to rule-comments@ and Immediate Effectiveness of a The Exchange offers four distinct
sec.gov. Please include File Number SR– Proposed Rule Change To Amend trading sessions where the Exchange
IEX–2018–16 on the subject line. Exchange Rule 1.5 Definitions and accepts orders for potential execution:
Exchange Rule 14.1 Unlisted Trading (1) The ‘‘Early Trading Session,’’ which
Paper Comments begins at 7:00 a.m. Eastern Time (‘‘ET’’)
Privileges
• Send paper comments in triplicate and continues until 8:00 a.m. ET,5 (2)
to Secretary, Securities and Exchange August 8, 2018. the ‘‘Pre-Opening Session,’’ which
Commission, 100 F Street NE, Pursuant to Section 19(b)(1) of the begins at 8:00 a.m. ET and continues
Washington, DC 20549–1090. Securities Exchange Act of 1934 (the until 9:30 a.m. ET,6 (3) ‘‘Regular Trading
All submissions should refer to File ‘‘Act’’),1 and Rule 19b–4 thereunder,2 Hours,’’ which begin at 9:30 a.m. ET and
Number SR–IEX–2018–16. This file notice is hereby given that on July 25, continue until 4:00 p.m. ET,7 and (4) the
number should be included on the 2018, Cboe BYX Exchange, Inc. (the ‘‘After Hours Trading Session,’’ which
subject line if email is used. To help the ‘‘Exchange’’ or ‘‘BYX’’) filed with the begins at 4:00 p.m. ET and continues
Commission process and review your Securities and Exchange Commission until 5:00 p.m. ET.8 Users 9 may
comments more efficiently, please use (‘‘Commission’’) the proposed rule designate when their orders are eligible
only one method. The Commission will change as described in Items I and II for execution by selecting their desired
post all comments on the Commission’s below, which Items have been prepared Time-in-Force instruction.10
internet website (http://www.sec.gov/ by the Exchange. The Exchange has The purpose of the proposed rule
rules/sro.shtml). Copies of the designated this proposal as a ‘‘non- change is to amend Rule 1.5(c), which
submission, all subsequent controversial’’ proposed rule change defines the After Hours Trading Session,
amendments, all written statements pursuant to Section 19(b)(3)(A) of the to allow trading until 8:00 p.m. ET,
with respect to the proposed rule Act 3 and Rule 19b–4(f)(6)(iii) consistent with the hours currently
change that are filed with the thereunder,4 which renders it effective available on the Exchange’s affiliates
Commission, and all written upon filing with the Commission. The Cboe EDGX Exchange, Inc. (‘‘EDGX’’)
communications relating to the Commission is publishing this notice to and Cboe EDGA Exchange, Inc.
proposed rule change between the solicit comments on the proposed rule (‘‘EDGA’’).11 The After Hours Trading
Commission and any person, other than change from interested persons.
5 ‘‘Early Trading Session’’ means the time
those that may be withheld from the I. Self-Regulatory Organization’s between 7:00 a.m. and 8:00 a.m. ET. See Rule
public in accordance with the Statement of the Terms of Substance of 1.5(ee).
provisions of 5 U.S.C. 552, will be the Proposed Rule Change 6 ‘‘Pre-Opening Session’’ means the time between
available for website viewing and 8:00 a.m. and 9:30 a.m. ET. See Rule 1.5(r).
The Exchange filed a proposal to
printing in the Commission’s Public 7 ‘‘Regular Trading Hours’’ means the time
amend Rule 1.5(c), which defines the between 9:30 a.m. and 4:00 p.m. ET. See Rule
Reference Room, 100 F Street NE,
After Hours Trading Session, to allow 1.5(w).
Washington, DC 20549 on official
trading until 8:00 p.m. ET. 8 ‘‘After Hours Trading Session’’ means the time
business days between the hours of
amozie on DSK3GDR082PROD with NOTICES1
The text of the proposed rule change between 4:00 p.m. and 5:00 p.m. ET. See Rule
10:00 a.m. and 3:00 p.m. Copies of the is available at the Exchange’s website at 1.5(c).
filing also will be available for 9 ‘‘User’’ means any Member or Sponsored
inspection and copying at the principal Participant who is authorized to obtain access to the
37 17 CFR 200.30–3(a)(12). System pursuant to Rule 11.3. See Rule 1.5(cc).
office of the Exchange. All comments 1 15 U.S.C. 78s(b)(1). 10 See Rule 11.9(b).
received will be posted without change. 2 17 CFR 240.19b–4. 11 See EDGX and EDGA Rule 1.5(r), which both
3 15 U.S.C. 78s(b)(3)(A).
define ‘‘Post-Closing Session’’ as the time between
36 15 U.S.C. 78s(b)(2)(B). 4 17 CFR 240.19b–4(f)(6)(iii). 4:00 p.m. and 8:00 p.m. ET.
VerDate Sep<11>2014 19:13 Aug 13, 2018 Jkt 244001 PO 00000 Frm 00160 Fmt 4703 Sfmt 4703 E:\FR\FM\14AUN1.SGM 14AUN1](https://thefederalregister.org/doc/83_FR_40528/page/1.svg)
![Federal Register / Vol. 83, No. 157 / Tuesday, August 14, 2018 / Notices 40373
Electronic Comments SECURITIES AND EXCHANGE in certain Tiers for options transactions
COMMISSION by MIAX Options Market Makers 3 in
• Use the Commission’s internet standard option classes in the Penny
comment form (http://www.sec.gov/ [Release No. 34–83797; File No. SR–MIAX–
2018–22]
Pilot Program 4 (‘‘Penny classes’’) and in
rules/sro.shtml); or standard option classes which are not in
• Send an email to rule-comments@ Self-Regulatory Organizations; Miami the Penny Pilot Program (‘‘non-Penny
sec.gov. Please include File Number SR– International Securities Exchange LLC; classes’’) executed in the complex
CboeBYX–2018–013 on the subject line. Notice of Filing and Immediate order 5 book; (ii) increase the per
Effectiveness of a Proposed Rule contract surcharge assessed for
Paper Comments Change To Amend Its Fee Schedule transactions by all market participants,
except for Priority Customers,6 which
• Send paper comments in triplicate August 8, 2018. remove liquidity against a resting
to Secretary, Securities and Exchange Pursuant to the provisions of Section Priority Customer complex order on the
Commission, 100 F Street NE, 19(b)(1) of the Securities Exchange Act strategy book for options in Penny
Washington, DC 20549–1090. of 1934 (‘‘Act’’) 1 and Rule 19b–4 classes and for options in non-Penny
All submissions should refer to File thereunder,2 notice is hereby given that classes (‘‘Complex Taker Surcharge’’)
Number SR–CboeBYX–2018–013. This on August 1, 2018, Miami International and to broaden the application of the
file number should be included on the Securities Exchange LLC (‘‘MIAX Complex Taker Surcharge to other types
subject line if email is used. To help the Options’’ or the ‘‘Exchange’’) filed with of transactions (described below) and
Commission process and review your the Securities and Exchange consequently to rename it as the
Commission (‘‘Commission’’) a ‘‘Complex Surcharge;’’ (iii) increase the
comments more efficiently, please use
proposed rule change as described in per contract credit assessable to Agency
only one method. The Commission will
Items I, II, and III below, which Items Orders (defined below) in a cPRIME
post all comments on the Commission’s have been prepared by the Exchange. Auction (‘‘cPRIME Agency Order
internet website (http://www.sec.gov/ The Commission is publishing this Credit’’) by Members 7 in Tier 4 of the
rules/sro.shtml). Copies of the notice to solicit comments on the Priority Customer Rebate Program
submission, all subsequent proposed rule change from interested (‘‘PCRP’’) 8 and establish a limit as to
amendments, all written statements persons.
with respect to the proposed rule 3 The term ‘‘Market Makers’’ refers to Lead
change that are filed with the I. Self-Regulatory Organization’s Market Makers (‘‘LMMs’’), Primary Lead Market
Commission, and all written Statement of the Terms of the Substance Makers (‘‘PLMMs’’), and Registered Market Makers
of the Proposed Rule Change (‘‘RMMs’’) collectively. See Exchange Rule 100. A
communications relating to the Directed Order Lead Market Maker (‘‘DLMM’’) and
proposed rule change between the The Exchange is filing a proposal to Directed Primary Lead Market Maker (‘‘DPLMM’’) is
Commission and any person, other than amend the MIAX Options Fee Schedule a party to a transaction being allocated to the LMM
those that may be withheld from the (the ‘‘Fee Schedule’’). or PLMM and is the result of an order that has been
The text of the proposed rule change directed to the LMM or PLMM. See Fee Schedule
public in accordance with the note 2.
is available on the Exchange’s website at
provisions of 5 U.S.C. 552, will be 4 See Securities Exchange Act Release No. 83515
http://www.miaxoptions.com/rule- (June 25, 2018), 83 FR 30786 (June 29, 2018) (SR–
available for website viewing and
filings, at MIAX’s principal office, and MIAX–2018–12).
printing in the Commission’s Public at the Commission’s Public Reference 5 A ‘‘complex order’’ is any order involving the
Reference Room, 100 F Street NE, Room. concurrent purchase and/or sale of two or more
Washington, DC 20549, on official different options in the same underlying security
II. Self-Regulatory Organization’s (the ‘‘legs’’ or ‘‘components’’ of the complex order),
business days between the hours of for the same account, in a ratio that is equal to or
10:00 a.m. and 3:00 p.m. Copies of such Statement of the Purpose of, and greater than one-to-three (.333) and less than or
filing will also be available for Statutory Basis for, the Proposed Rule equal to three-to-one (3.00) and for the purposes of
inspection and copying at the principal Change executing a particular investment strategy. A
complex order can also be a ‘‘stock-option’’ order,
office of the Exchange. All comments In its filing with the Commission, the which is an order to buy or sell a stated number
received will be posted without change. Exchange included statements of units of an underlying security coupled with the
Persons submitting comments are concerning the purpose of and basis for purchase or sale of options contract(s) on the
opposite side of the market, subject to certain
cautioned that we do not redact or edit the proposed rule change and discussed contingencies set forth in the proposed rules
personal identifying information from any comments it received on the governing complex orders. For a complete
comment submissions. You should proposed rule change. The text of these definition of a ‘‘complex order,’’ see Exchange Rule
statements may be examined at the 518(a)(5). See also Securities Exchange Act Release
submit only information that you wish No. 78620 (August 18, 2016), 81 FR 58770 (August
to make available publicly. All places specified in Item IV below. The 25, 2016) (SR–MIAX–2016–26).
submissions should refer to File Exchange has prepared summaries, set 6 ‘‘Priority Customer’’ means a person or entity
Number SR–CboeBYX–2018–013 and forth in sections A, B, and C below, of that (i) is not a broker or dealer in securities, and
should be submitted on or before the most significant aspects of such (ii) does not place more than 390 orders in listed
statements. options per day on average during a calendar month
September 4, 2018. for its own beneficial accounts(s). A ‘‘Priority
A. Self-Regulatory Organization’s Customer Order’’ means an order for the account of
For the Commission, by the Division of a Priority Customer. See Exchange Rule 100.
Trading and Markets, pursuant to delegated Statement of the Purpose of, and 7 The term ‘‘Member’’ means an individual or
authority.19 Statutory Basis for, the Proposed Rule organization approved to exercise the trading rights
Change
amozie on DSK3GDR082PROD with NOTICES1
associated with a Trading Permit. Members are
Eduardo A. Aleman,
deemed ‘‘members’’ under the Exchange Act. See
Assistant Secretary. 1. Purpose Exchange Rule 100.
8 Under the PCRP, MIAX Options credits each
[FR Doc. 2018–17394 Filed 8–13–18; 8:45 am] The Exchange proposes to amend its
Member the per contract amount resulting from
BILLING CODE 8011–01–P Fee Schedule to (i) increase certain fees each Priority Customer order transmitted by that
Member which is executed electronically on the
1 15 U.S.C. 78s(b)(1). Exchange in all multiply-listed option classes
19 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. Continued
VerDate Sep<11>2014 19:13 Aug 13, 2018 Jkt 244001 PO 00000 Frm 00162 Fmt 4703 Sfmt 4703 E:\FR\FM\14AUN1.SGM 14AUN1](https://thefederalregister.org/doc/83_FR_40528/page/3.svg)
Document Created: 2018-08-14 02:18:17
Document Modified: 2018-08-14 02:18:17
| 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 40371 |
2024 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR