83 FR 41124 - Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Schedule of Fees Relating to Crossing Orders and Responses to Crossing Orders in Index Options on the Nasdaq 100 Reduced Value Index

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 160 (August 17, 2018)

Page Range		41124-41126
FR Document		2018-17738
Federal Register, Volume 83 Issue 160 (Friday, August 17, 2018)
[Federal Register Volume 83, Number 160 (Friday, August 17, 2018)]
[Notices]
[Pages 41124-41126]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17738]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83830; File No. SR-ISE-2018-66]


Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the 
Exchange's Schedule of Fees Relating to Crossing Orders and Responses 
to Crossing Orders in Index Options on the Nasdaq 100 Reduced Value 
Index

August 13, 2018.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on August 1, 2018, Nasdaq ISE, LLC (``ISE'' 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 Exchange. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the Exchange's Schedule of Fees to 
provide further explanation on how the Exchange charges Crossing Orders 
and Responses to Crossing Orders in index options on the Nasdaq 100 
Reduced Value Index (``NQX'').
    The text of the proposed rule change is available on the Exchange's 
website at http://ise.cchwallstreet.com/, at the principal office of 
the Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange recently adopted transaction fees and rebates for 
adding or removing liquidity from ISE (i.e., maker/taker fees and 
rebates) in NQX options, which apply to executions in both the regular 
and complex order book, according to the following schedule: \3\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 83639 (July 16, 
2018) (SR-ISE-2018-61).

------------------------------------------------------------------------
                                            Maker  fee/     Taker  fee/
           Market participant                 rebate          rebate
------------------------------------------------------------------------
Market Maker............................         ($0.25)           $0.00
Market Maker (for orders sent by                  (0.25)            0.00
 Electronic Access Members).............
Non-Nasdaq ISE Market Maker (FarMM).....            0.25            0.25
Firm Proprietary/Broker-Dealer..........            0.25            0.25
Professional Customer...................            0.25            0.25
Priority Customer.......................            0.00            0.00
------------------------------------------------------------------------

    In SR-ISE-2018-61, the Exchange stated that the above pricing would 
apply to all executions in NQX, including Non-Priority Customer \4\ 
Crossing Orders \5\ in NQX. The Exchange now proposes to clarify that 
the taker fee applies to Crossing Orders (i.e., both the originating 
and contra side of the order) in NQX as well as responses to such 
orders by noting the following in Section III.B: ``Fee will also apply 
to the originating and contra side of Crossing Orders, and to Responses 
to Crossing Orders.'' \6\
---------------------------------------------------------------------------

    \4\ ``Non-Priority Customers'' include Market Makers, Non-Nasdaq 
ISE Market Makers, Firm Proprietary/Broker-Dealers, and Professional 
Customers.
    \5\ A ``Crossing Order'' is an order executed in the Exchange's 
Facilitation Mechanism, Solicited Order Mechanism, Price Improvement 
Mechanism (PIM) or submitted as a Qualified Contingent Cross order. 
For purposes of the fee schedule, orders executed in the Block Order 
Mechanism are also considered Crossing Orders.
    \6\ ``Responses to Crossing Order'' is any contra-side interest 
submitted after the commencement of an auction in the Exchange's 
Facilitation Mechanism, Solicited Order Mechanism, Block Order 
Mechanism or PIM.
---------------------------------------------------------------------------

    The Exchange does not seek to amend the manner in which Crossing 
Orders in NQX and responses thereto are currently charged, rather the 
Exchange

[[Page 41125]]

seeks to more clearly state in its Schedule of Fees that taker pricing 
applies for such orders. While the Exchange is not aware of any member 
confusion with respect to this fee, the Exchange believes this 
specificity will help preclude any potential confusion in how its fees 
will apply.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\7\ in general, and furthers the objectives of Sections 
6(b)(4) and 6(b)(5) of the Act,\8\ in particular, in that it provides 
for the equitable allocation of reasonable dues, fees, and other 
charges among members and issuers and other persons using any facility, 
and is not designed to permit unfair discrimination between customers, 
issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed language relating to the 
application of taker fees to Crossing Orders and Responses to Crossing 
Orders in NQX is reasonable because the proposed rule text will bring 
greater transparency to the manner in which the Exchange charges NQX 
orders submitted in ISE's various crossing mechanisms. As discussed 
above, the Exchange charges members the applicable taker fee to both 
the originating and contra side of Crossing Orders in NQX as well 
charging the NQX taker pricing for Responses to Crossing Orders. The 
Exchange believes it is reasonable and appropriate to charge taker and 
not maker pricing for these orders because the Exchange seeks to 
encourage market making activity in NQX by providing the $0.25 per 
contract maker rebate to Market Maker orders that post liquidity in the 
Exchange's new proprietary product during the initial months of 
trading. Furthermore, the manner in which the Exchange applies the NQX 
taker fees in Section III.B is not changing with this proposal, and the 
proposed changes are intended to bring greater clarity to ISE's 
Schedule of Fees, to the benefit of all market participants.
    The Exchange's proposal to add the clarifying language is also 
equitable and not unfairly discriminatory because the Exchange will 
continue to apply the taker fees for Crossing Orders and Responses to 
Crossing Orders in NQX in a uniform manner for all similarly situated 
participants. The Exchange also believes that it is equitable and not 
unfairly discriminatory to assess no taker fees to Market Maker 
Crossing Orders and Responses to Crossing Orders in NQX as compared to 
other Non-Priority Customers, who are currently assessed the $0.25 per 
contract taker fee for such orders. Market Makers, unlike other market 
participants, take on a number of obligations, including quoting 
obligations, that other market participants do not have. Further, the 
Exchange believes that it is equitable and not unfairly discriminatory 
to assess no transaction fees to Priority Customer \9\ Crossing Orders 
and Responses to Crossing Orders in NQX because Priority Customer order 
flow enhances liquidity on the Exchange for the benefit of all market 
participants. Priority Customer liquidity provides more trading 
opportunities, which attracts Market Makers. An increase in the 
activity of these market participants in turn facilitates tighter 
spreads, which may cause an additional corresponding increase in order 
flow from other market participants.
---------------------------------------------------------------------------

    \9\ A ``Priority Customer'' is a person or entity that is not a 
broker/dealer in securities, and does not place more than 390 orders 
in listed options per day on average during a calendar month for its 
own beneficial account(s), as defined in Nasdaq ISE Rule 
100(a)(37A).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. As discussed above, the 
proposal is intended to eliminate ambiguity from the Schedule of Fees 
by further explaining how ISE charges the originating and contra side 
of Crossing Orders in NQX as well as Responses to Crossing Orders in 
NQX. The proposal does not amend the current manner in which the 
Exchange assesses fees for Crossing Orders and Responses to Crossing 
Orders in NQX, and the Exchange will continue to assess the applicable 
taker fees in Section III.B for such NQX orders in a uniform manner to 
all market participants. For the foregoing reasons, the Exchange 
believes that the proposed changes do not impose an undue burden on 
competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act \10\ and Rule 19b-4(f)(2) \11\ 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: (i) Necessary or 
appropriate in the public interest; (ii) for the protection of 
investors; or (iii) otherwise in furtherance of the purposes of the 
Act. If the Commission takes such action, the Commission shall 
institute proceedings to determine whether the proposed rule should be 
approved or disapproved.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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 Comments

     Use 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-ISE-2018-66 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-ISE-2018-66. 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 41126]]

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-ISE-
2018-66 and should be submitted on or before September 7, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Robert W. Errett,
Deputy Secretary.
[FR Doc. 2018-17738 Filed 8-16-18; 8:45 am]
 BILLING CODE 8011-01-P
41124 Federal Register / Vol. 83, No. 160 / Friday, August 17, 2018 / Notices

comments more efficiently, please use SECURITIES AND EXCHANGE principal office of the Exchange, and at
only one method. The Commission will COMMISSION the Commission’s Public Reference
post all comments on the Commission’s Room.
internet website (http://www.sec.gov/ [Release No. 34–83830; File No. SR–ISE–
rules/sro.shtml). Copies of the 2018–66] II. Self-Regulatory Organization’s
submission, all subsequent Statement of the Purpose of, and
Self-Regulatory Organizations; Nasdaq Statutory Basis for, the Proposed Rule
amendments, all written statements
ISE, LLC; Notice of Filing and Change
with respect to the proposed rule
Immediate Effectiveness of Proposed
change that are filed with the
Rule Change To Amend the In its filing with the Commission, the
Commission, and all written
communications relating to the Exchange’s Schedule of Fees Relating Exchange included statements
proposed rule change between the to Crossing Orders and Responses to concerning the purpose of and basis for
Commission and any person, other than Crossing Orders in Index Options on the proposed rule change and discussed
those that may be withheld from the the Nasdaq 100 Reduced Value Index any comments it received on the
public in accordance with the August 13, 2018. proposed rule change. The text of these
provisions of 5 U.S.C. 552, will be Pursuant to Section 19(b)(1) of the statements may be examined at the
available for website viewing and Securities Exchange Act of 1934 places specified in Item IV below. The
printing in the Commission’s Public (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Exchange has prepared summaries, set
Reference Room, 100 F Street NE, notice is hereby given that on August 1, forth in sections A, B, and C below, of
Washington, DC 20549, on official 2018, Nasdaq ISE, LLC (‘‘ISE’’ or the most significant aspects of such
business days between the hours of ‘‘Exchange’’) filed with the Securities statements.
10:00 a.m. and 3:00 p.m. Copies of the and Exchange Commission
filing also will be available for A. Self-Regulatory Organization’s
(‘‘Commission’’) the proposed rule Statement of the Purpose of, and
inspection and copying at the principal change as described in Items I and II
office of the Exchange. All comments Statutory Basis for, the Proposed Rule
below, which Items have been prepared
received will be posted without change. Change
by the Exchange. The Commission is
Persons submitting comments are publishing this notice to solicit 1. Purpose
cautioned that we do not redact or edit comments on the proposed rule change
personal identifying information from from interested persons. The Exchange recently adopted
comment submissions. You should transaction fees and rebates for adding
submit only information that you wish I. Self-Regulatory Organization’s or removing liquidity from ISE (i.e.,
to make available publicly. All Statement of the Terms of Substance of maker/taker fees and rebates) in NQX
submissions should refer to File the Proposed Rule Change options, which apply to executions in
Number SR–BX–2018–037 and should The Exchange proposes to amend the both the regular and complex order
be submitted on or before September 7, Exchange’s Schedule of Fees to provide book, according to the following
2018. further explanation on how the schedule: 3
For the Commission, by the Division of Exchange charges Crossing Orders and
Trading and Markets, pursuant to delegated Responses to Crossing Orders in index
authority.13 options on the Nasdaq 100 Reduced
Robert W. Errett, Value Index (‘‘NQX’’).
Deputy Secretary. The text of the proposed rule change
[FR Doc. 2018–17742 Filed 8–16–18; 8:45 am] is available on the Exchange’s website at
BILLING CODE 8011–01–P http://ise.cchwallstreet.com/, at the

Maker Taker
Market participant fee/rebate fee/rebate

Market Maker ........................................................................................................................................................... ($0.25) $0.00
Market Maker (for orders sent by Electronic Access Members) ............................................................................. (0.25) 0.00
Non-Nasdaq ISE Market Maker (FarMM) ............................................................................................................... 0.25 0.25
Firm Proprietary/Broker-Dealer ................................................................................................................................ 0.25 0.25
Professional Customer ............................................................................................................................................ 0.25 0.25
Priority Customer ..................................................................................................................................................... 0.00 0.00

In SR–ISE–2018–61, the Exchange the taker fee applies to Crossing Orders of Crossing Orders, and to Responses to
stated that the above pricing would (i.e., both the originating and contra side Crossing Orders.’’ 6
apply to all executions in NQX, of the order) in NQX as well as The Exchange does not seek to amend
including Non-Priority Customer 4 responses to such orders by noting the the manner in which Crossing Orders in
Crossing Orders 5 in NQX. The following in Section III.B: ‘‘Fee will also NQX and responses thereto are
Exchange now proposes to clarify that apply to the originating and contra side currently charged, rather the Exchange
amozie on DSK3GDR082PROD with NOTICES1

13 17 CFR 200.30–3(a)(12). Proprietary/Broker-Dealers, and Professional in the Block Order Mechanism are also considered
1 15 U.S.C. 78s(b)(1). Customers. Crossing Orders.
2 17 CFR 240.19b–4. 5 A ‘‘Crossing Order’’ is an order executed in the 6 ‘‘Responses to Crossing Order’’ is any contra-
3 See Securities Exchange Act Release No. 83639 Exchange’s Facilitation Mechanism, Solicited Order side interest submitted after the commencement of
(July 16, 2018) (SR–ISE–2018–61). Mechanism, Price Improvement Mechanism (PIM) an auction in the Exchange’s Facilitation
4 ‘‘Non-Priority Customers’’ include Market or submitted as a Qualified Contingent Cross order. Mechanism, Solicited Order Mechanism, Block
Makers, Non-Nasdaq ISE Market Makers, Firm For purposes of the fee schedule, orders executed Order Mechanism or PIM.

VerDate Sep<11>2014 17:17 Aug 16, 2018 Jkt 244001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\17AUN1.SGM 17AUN1
41126 Federal Register / Vol. 83, No. 160 / Friday, August 17, 2018 / Notices

Reference Room, 100 F Street NE, office, and at the Commission’s Public Maker using the same MPID via the
Washington, DC 20549, on official Reference Room. MEO Interface or the FIX Interface.8 In
business days between the hours of such a case, the System 9 will cancel the
II. Self-Regulatory Organization’s
10:00 a.m. and 3:00 p.m. Copies of the oldest of the orders back to the entering
Statement of the Purpose of, and
filing also will be available for party prior to execution.
Statutory Basis for, the Proposed Rule Members of the Exchange may either
inspection and copying at the principal
office of the Exchange. All comments Change be Market Makers or Electronic
received will be posted without change. In its filing with the Commission, the Exchange Members.10 Each Market
Persons submitting comments are Exchange included statements Maker and Electronic Exchange Member
cautioned that we do not redact or edit concerning the purpose of and basis for is assigned an MPID by the Exchange for
personal identifying information from the proposed rule change and discussed identification purposes. A Member may
comment submissions. You should any comments it received on the have multiple Market Maker MPIDs on
submit only information that you wish proposed rule change. The text of these the Exchange, therefore the possibility
to make available publicly. All statements may be examined at the exists that a Member may cross its own
submissions should refer to File places specified in Item IV below. The Market Maker’s orders.11
Number SR–ISE–2018–66 and should be Exchange has prepared summaries, set The Exchange now proposes to allow
submitted on or before September 7, forth in sections A, B, and C below, of members to choose to have this
2018. the most significant aspects of such protection applied at either the MPID
For the Commission, by the Division of statements. level, as currently implemented, or at
Trading and Markets, pursuant to delegated the member firm level. If members
A. Self-Regulatory Organization’s choose to have this protection applied at
authority.12
Statement of the Purpose of, and the member firm level, the System will
Robert W. Errett,
Statutory Basis for, the Proposed Rule prohibit orders entered from different
Deputy Secretary. Change MPIDs within the Member’s firm from
[FR Doc. 2018–17738 Filed 8–16–18; 8:45 am]
1. Purpose trading against one another. The
BILLING CODE 8011–01–P
Exchange believes that the proposed
The Exchange proposes to amend enhancement will provide Members
Exchange Rule 514, Priority on the with more tailored self-trade
SECURITIES AND EXCHANGE Exchange. Specifically, the Exchange functionality that will allow Members to
COMMISSION proposes to amend subsection (c), Self- manage their trading as appropriate
[Release No. 34–83835; File No. SR– Trade Protection, to broaden the based on the Member’s business needs.
PEARL–2018–15] protection afforded under the current While the Exchange believes that some
rule by giving Members 3 the option to firms will want to restrict trading
Self-Regulatory Organizations; MIAX have this protection apply at the market interest from the same MPID, (as
PEARL, LLC; Notice of Filing and participant identifier (‘‘MPID’’) 4 level currently implemented), the Exchange
Immediate Effectiveness of a Proposed (i.e., currently existing functionality), or believes that other firms will find it
Rule Change to the Exchange Rule 514 at the firm level. The Exchange believes helpful to apply self-trade protection
Priority on the Exchange that this enhancement will provide across all MPIDs of the same firm.
August 13, 2018.
helpful flexibility for market making The Exchange note that similar
Pursuant to the provisions of Section firms that wish to prevent trading functionality also exists on the Nasdaq
19(b)(1) of the Securities Exchange Act against all orders entered by their firm Stock Market (‘‘NASDAQ’’) which
of 1934 (‘‘Act’’) 1 and Rule 19b–4 under any MPID, instead of just those prevents self-trades by MPID, or
thereunder,2 notice is hereby given that entered under the same MPID. alternatively, if selected by the member,
on August 1, 2018, MIAX PEARL, LLC Currently, the rule prevents orders self-trade protection for all MPIDs of the
(‘‘MIAX PEARL’’ or ‘‘Exchange’’) filed entered by a Market Maker 5 via the firm.12 Cboe BZX Exchange
with the Securities and Exchange MEO Interface 6 or the FIX Interface 7 (‘‘CboeBZX’’) also has a similar rule in
Commission (‘‘Commission’’) a using the same MPID from executing place which provides members the
proposed rule change as described in against orders entered on the opposite ability to apply Match Trade Prevention
Items I, II, and III below, which Items side of the market by the same Market (‘‘MTP’’) modifiers (CboeBZX’s version
have been prepared by the Exchange. 3 The term ‘‘Member’’ means an individual or 8 See Exchange Rule 514(c)(1).
The Commission is publishing this organization that is registered with the Exchange 9 The term ‘‘System’’ means the automated
notice to solicit comments on the pursuant to Chapter II of MIAX PEARL Rules for trading system used by the Exchange for the trading
proposed rule change from interested purposes of trading on the Exchange as an of securities. See Exchange Rule 100.
persons. ‘‘Electronic Exchange Member’’ or ‘‘Market Maker.’’ 10 The term ‘‘Electronic Exchange Member’’ or
Members are deemed ‘‘members’’ under the ‘‘EEM’’ means the holder of a Trading Permit who
I. Self-Regulatory Organization’s Exchange Act. See Exchange Rule 100. is a Member representing as agent Public Customer
4 The term ‘‘MPID’’ means unique market
Statement of the Terms of Substance of Orders or Non-Customer Orders on the Exchange
participant identifier. See Exchange Rule 100. and those non-Market Maker Members conducting
the Proposed Rule Change 5 The term ‘‘Market Maker’’ or ‘‘MM’’ means a proprietary trading. Electronic Exchange Members
The Exchange is filing a proposal to Member registered with the Exchange for the are deemed ‘‘members’’ under the Exchange Act.
amend Exchange Rule 514, Priority on purpose of making markets in options contracts See Exchange Rule 100.
traded on the Exchange and that is vested with the 11 The Exchange notes that if requested by an
the Exchange. rights and responsibilities specified in Chapter VI EEM, orders entered by an EEM via the MEO
The text of the proposed rule change
amozie on DSK3GDR082PROD with NOTICES1

of the MIAX PEARL Rules. See Exchange Rule 100. Interface using the same MPID will not be executed
is available on the Exchange’s website at 6 The term ‘‘MEO Interface’’ means a binary order against orders entered on the opposite side of the
http://www.miaxoptions.com/rule- interface used for submitting certain order types (as market by the same EEM using the same MPID via
set forth in Rule 516) to the MIAX PEARL System. the MEO Interface. In such a case, the System will
filings/pearl at MIAX PEARL’s principal See Exchange Rule 100. cancel the oldest of the orders back to the entering
7 The term ‘‘FIX Interface’’ means the Financial party prior to execution. See Exchange Rule
12 17 CFR 200.30–3(a)(12). Information Exchange interface used for submitting 514(c)(2).
1 15 U.S.C. 78s(b)(1). certain order types (as set forth in Rule 516) to the 12 See Nasdaq Stock Market Rule, Chapter VI, Sec.
2 17 CFR 240.19b–4. MIAX PEARL System. See Exchange Rule 100. 18(c)(1).

VerDate Sep<11>2014 17:17 Aug 16, 2018 Jkt 244001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 E:\FR\FM\17AUN1.SGM 17AUN1
Document Created: 2018-08-17 03:25:06
Document Modified: 2018-08-17 03:25:06
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 41124