83_FR_42886 83 FR 42722 - Order Granting Applications by Nasdaq ISE, LLC, Nasdaq GEMX, LLC, and Nasdaq MRX, LLC for Exemption Pursuant to Section 36(a) of the Exchange Act From the Rule Filing Requirements of Section 19(b) of the Exchange Act With Respect to Certain Rules Incorporated by Reference

83 FR 42722 - Order Granting Applications by Nasdaq ISE, LLC, Nasdaq GEMX, LLC, and Nasdaq MRX, LLC for Exemption Pursuant to Section 36(a) of the Exchange Act From the Rule Filing Requirements of Section 19(b) of the Exchange Act With Respect to Certain Rules Incorporated by Reference

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 164 (August 23, 2018)

Page Range42722-42723
FR Document2018-18278

Federal Register, Volume 83 Issue 164 (Thursday, August 23, 2018)
[Federal Register Volume 83, Number 164 (Thursday, August 23, 2018)]
[Notices]
[Pages 42722-42723]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-18278]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83887]


Order Granting Applications by Nasdaq ISE, LLC, Nasdaq GEMX, LLC, 
and Nasdaq MRX, LLC for Exemption Pursuant to Section 36(a) of the 
Exchange Act From the Rule Filing Requirements of Section 19(b) of the 
Exchange Act With Respect to Certain Rules Incorporated by Reference

August 20, 2018.
    Nasdaq ISE, LLC (``ISE''), Nasdaq GEMX, LLC (``GEMX''), and Nasdaq 
MRX, LLC (``MRX'') (each, a ``Nasdaq Exchange,'' and collectively, the 
``Nasdaq Exchanges'') have filed with the Securities and Exchange 
Commission (``Commission'') an application for an exemption under 
Section 36(a)(1) of the Securities Exchange Act of 1934 (``Exchange 
Act'') \1\ from the rule filing requirements of Section 19(b) of the 
Exchange Act \2\ with respect to certain rules of Nasdaq BX, Inc. 
(``BX''), an affiliate of the Nasdaq Exchanges, that the Nasdaq 
Exchanges seek to incorporate by reference.\3\ Section 36 of the 
Exchange Act authorizes the Commission to conditionally or 
unconditionally exempt any person, security, or transaction, or any 
class thereof, from any provision of the Exchange Act or rule 
thereunder, if necessary or appropriate in the public interest and 
consistent with the protection of investors.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78mm(a)(1).
    \2\ 15 U.S.C. 78s(b).
    \3\ See Letter from Brett M. Kitt, Senior Associate General 
Counsel, Nasdaq Inc., to Brent Fields, Secretary, Commission, dated 
July 16, 2018 (``Exemptive Request'').
---------------------------------------------------------------------------

    Recently, the Nasdaq Exchanges each filed a proposed rule change 
\4\ under Section 19(b) of the Exchange Act to largely replace their 
existing investigatory, disciplinary, and adjudicatory rules with those 
contained in the BX Rule 8000 and 9000 Series, as such rules may be in 
effect from time to time. In the proposed rule changes, the Nasdaq 
Exchanges proposed to incorporate by reference the BX Rule 8000 and 
9000 Series into new Chapters 80 and 90 of their respective rulebooks, 
and thus make these BX Rules applicable to their members, associated 
persons, and other persons subject to their jurisdiction. When the 
proposed rule changes become operative, Nasdaq Exchange members, 
associated persons, and other persons subject to the jurisdiction of 
the Nasdaq Exchanges will be required to comply with the BX Rule 8000 
and 9000 Series as though such rules are fully set forth within each of 
the Nasdaq Exchange's rulebooks.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release Nos. 83703 (July 25, 
2018) (SR-ISE-2018-59); 83704 (July 25, 2018) (SR-GEMX-2018-24); and 
83705 (July 25, 2018) (SR-MRX-2018-23).
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    The Nasdaq Exchanges have requested, pursuant to Rule 0-12 under 
the Exchange Act,\5\ that the Commission grant the Nasdaq Exchanges an 
exemption from the rule filing requirements of Section 19(b) of the 
Exchange Act for changes to each of the Nasdaq Exchange's rules that 
are effected solely by virtue of a change to the BX Rule 8000 and 9000 
Series that are incorporated by reference. Specifically, the Nasdaq 
Exchanges request that they be permitted to incorporate by reference 
changes made to the BX Rule 8000 and 9000 Series that are cross-
referenced in each of the Nasdaq Exchange's rules, without the need for 
each Nasdaq Exchange to file separately the same proposed rule changes 
pursuant to Section 19(b) of the Exchange Act.\6\
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    \5\ 17 CFR 240.0-12.
    \6\ See Exemptive Request, supra note 3, at 2.

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[[Page 42723]]

    The Nasdaq Exchanges represent that the BX Rule 8000 and 9000 
Series are not trading rules. Moreover, the Nasdaq Exchanges state that 
in each instance, the Nasdaq Exchanges propose to incorporate by 
reference categories of rules (rather than individual rules within a 
category) that are regulatory in nature. The Nasdaq Exchanges will, as 
a condition of this exemption, provide written notice to their members 
whenever BX proposes a change to its Rule 8000 and 9000 Series.\7\ Such 
notice will alert the members of each Nasdaq Exchange to the proposed 
rule change and give them an opportunity to comment on the proposal. 
The Nasdaq Exchanges state that they will also inform members in 
writing when the Commission approves any such proposed changes.\8\
---------------------------------------------------------------------------

    \7\ The Nasdaq Exchanges state that they will provide such 
notice on their websites in the same section they use to post their 
own proposed rule change filings pursuant to Rule 19b-4(l) within 
the timeframe required by such Rule. In addition, the Nasdaq 
Exchanges state that their website will also include a link to the 
BX website where the proposed rule change filings are located. Id. 
at 3.
    \8\ Id.
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    The Nasdaq Exchanges believe this exemption is necessary and 
appropriate, because it will result in the Nasdaq Exchanges' rules 
being consistent with the relevant cross-referenced BX rules at all 
times, thus ensuring that the Nasdaq Exchanges and BX maintain a 
harmonious system of investigating, disciplining, and adjudicating the 
rights of their respective members, associated persons, and other 
persons subject to their jurisdiction. Without such an exemption, 
members of the Nasdaq Exchanges and BX could become subject to 
different standards for investigations and disciplinary actions.\9\
---------------------------------------------------------------------------

    \9\ Id. at 2.
---------------------------------------------------------------------------

    The Commission has issued exemptions similar to the Nasdaq 
Exchanges' request.\10\ In granting one such exemption in 2010, the 
Commission repeated a prior, 2004 Commission statement that it would 
consider similar future exemption requests from other self-regulatory 
organizations (``SROs''), provided that:
---------------------------------------------------------------------------

    \10\ See, e.g., Securities Exchange Act Release Nos. 80338 
(March 29, 2017), 82 FR 16464 (April 4, 2017) (order granting 
exemptive request from MIAX PEARL, LLC relating to rules of Miami 
International Securities Exchange, LLC incorporated by reference); 
72650 (July 22, 2014), 79 FR 44075 (July 29, 2014) (order granting 
exemptive requests from NASDAQ OMX BX, Inc. and the NASDAQ Stock 
Market LLC relating to rules of NASDAQ OMX PHLX LLC incorporated by 
reference); 67256 (June 26, 2012), 77 FR 39277, 39286 (July 2, 2012) 
(order approving SR-BX-2012-030 and granting exemptive request 
relating to rules incorporated by reference by the BX Options 
rules); 61534 (February 18, 2010), 75 FR 8760 (February 25, 2010) 
(order granting BATS Exchange, Inc.'s exemptive request relating to 
rules incorporated by reference by the BATS Exchange Options Market 
rules) (``BATS Options Market Order''); and 57478 (March 12, 2008), 
73 FR 14521, 14539-40 (March 18, 2008) (order approving SR-NASDAQ-
2007-004 and SR-NASDAQ-2007-080, and granting exemptive request 
relating to rules incorporated by reference by The NASDAQ Options 
Market).
---------------------------------------------------------------------------

     An SRO wishing to incorporate rules of another SRO by 
reference has submitted a written request for an order exempting it 
from the requirement in Section 19(b) of the Exchange Act to file 
proposed rule changes relating to the rules incorporated by reference, 
has identified the applicable originating SRO(s), together with the 
rules it wants to incorporate by reference, and otherwise has complied 
with the procedural requirements set forth in the Commission's release 
governing procedures for requesting exemptive orders pursuant to Rule 
0-12 under the Exchange Act; \11\
---------------------------------------------------------------------------

    \11\ See 17 CFR 240.0-12 and Securities Exchange Act Release No. 
39624 (February 5, 1998), 63 FR 8101 (February 18, 1998) 
(``Commission Procedures for Filing Applications for Orders for 
Exemptive Relief Pursuant to Section 36 of the Exchange Act; Final 
Rule'').
---------------------------------------------------------------------------

     The incorporating SRO has requested incorporation of 
categories of rules (rather than individual rules within a category) 
that are not trading rules (e.g., the SRO has requested incorporation 
of rules such as margin, suitability, or arbitration); and
     The incorporating SRO has reasonable procedures in place 
to provide written notice to its members each time a change is proposed 
to the incorporated rules of another SRO.\12\
---------------------------------------------------------------------------

    \12\ See BATS Options Market Order, supra note 10 (citing 
Securities Exchange Act Release No. 49260 (February 17, 2004), 69 FR 
8500 (February 24, 2004) (order granting exemptive request relating 
to rules incorporated by reference by several SROs) (``2004 
Order'')).
---------------------------------------------------------------------------

    The Commission believes that the Nasdaq Exchanges have satisfied 
each of these conditions. The Commission also believes that granting 
the Nasdaq Exchanges an exemption from the rule filing requirements 
under Section 19(b) of the Exchange Act will promote efficient use of 
Commission and Nasdaq Exchange resources by avoiding duplicative rule 
filings based on simultaneous changes to identical rule text sought by 
more than one SRO.\13\ The Commission therefore finds it appropriate in 
the public interest and consistent with the protection of investors to 
exempt the Nasdaq Exchanges from the rule filing requirements under 
Section 19(b) of the Exchange Act with respect to the above-described 
rules they have incorporated by reference. This exemption is 
conditioned upon the Nasdaq Exchanges promptly providing written notice 
to their members whenever the BX changes a rule that the Nasdaq 
Exchanges have incorporated by reference.
---------------------------------------------------------------------------

    \13\ See BATS Options Market Order, supra note 10, 75 FR at 
8761; see also 2004 Order, supra note 12, 69 FR at 8502.
---------------------------------------------------------------------------

    Accordingly, it is ordered, pursuant to Section 36 of the Exchange 
Act,\14\ that the Nasdaq Exchanges are exempt from the rule filing 
requirements of Section 19(b) of the Exchange Act solely with respect 
to changes to the rules identified in their request that incorporate by 
reference certain BX rules that are the result of changes to such BX 
rules, provided that the Nasdaq Exchanges promptly provide written 
notice to their members whenever the BX proposes to change a rule that 
the Nasdaq Exchanges have incorporated by reference.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78mm.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(76).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-18278 Filed 8-22-18; 8:45 am]
 BILLING CODE 8011-01-P



                                               42722                          Federal Register / Vol. 83, No. 164 / Thursday, August 23, 2018 / Notices

                                               The Exchange is obligated to ensure that                change that are filed with the                        Nasdaq Exchanges, that the Nasdaq
                                               the amount of regulatory revenue                        Commission, and all written                           Exchanges seek to incorporate by
                                               collected from the ORF, in combination                  communications relating to the                        reference.3 Section 36 of the Exchange
                                               with its other regulatory fees and fines,               proposed rule change between the                      Act authorizes the Commission to
                                               does not exceed regulatory costs.                       Commission and any person, other than                 conditionally or unconditionally
                                                                                                       those that may be withheld from the                   exempt any person, security, or
                                               C. Self-Regulatory Organization’s                       public in accordance with the                         transaction, or any class thereof, from
                                               Statement on Comments on the                            provisions of 5 U.S.C. 552, will be                   any provision of the Exchange Act or
                                               Proposed Rule Change Received From                      available for website viewing and                     rule thereunder, if necessary or
                                               Members, Participants, or Others                        printing in the Commission’s Public                   appropriate in the public interest and
                                                 The Exchange neither solicited nor                    Reference Room, 100 F Street NE,                      consistent with the protection of
                                               received comments on the proposed                       Washington, DC 20549, on official                     investors.
                                               rule change.                                            business days between the hours of                       Recently, the Nasdaq Exchanges each
                                                                                                       10:00 a.m. and 3:00 p.m. Copies of the                filed a proposed rule change 4 under
                                               III. Date of Effectiveness of the
                                                                                                       filing also will be available for                     Section 19(b) of the Exchange Act to
                                               Proposed Rule Change and Timing for
                                                                                                       inspection and copying at the principal
                                               Commission Action                                                                                             largely replace their existing
                                                                                                       office of the Exchange. All comments
                                                  The foregoing rule change has become                                                                       investigatory, disciplinary, and
                                                                                                       received will be posted without change.
                                               effective pursuant to Section 19(b)(3)(A)                                                                     adjudicatory rules with those contained
                                                                                                       Persons submitting comments are
                                               of the Act 13 and paragraph (f) of Rule                                                                       in the BX Rule 8000 and 9000 Series, as
                                                                                                       cautioned that we do not redact or edit
                                               19b–4 thereunder.14 At any time within                                                                        such rules may be in effect from time to
                                                                                                       personal identifying information from
                                               60 days of the filing of the proposed rule                                                                    time. In the proposed rule changes, the
                                                                                                       comment submissions. You should
                                               change, the Commission summarily may                                                                          Nasdaq Exchanges proposed to
                                                                                                       submit only information that you wish
                                               temporarily suspend such rule change if                                                                       incorporate by reference the BX Rule
                                                                                                       to make available publicly. All
                                               it appears to the Commission that such                                                                        8000 and 9000 Series into new Chapters
                                                                                                       submissions should refer to File No.
                                               action is necessary or appropriate in the               SR–CboeEDGX–2018–033, and should                      80 and 90 of their respective rulebooks,
                                               public interest, for the protection of                  be submitted on or before September 13,               and thus make these BX Rules
                                               investors, or otherwise in furtherance of               2018.                                                 applicable to their members, associated
                                               the purposes of the Act.                                                                                      persons, and other persons subject to
                                                                                                         For the Commission, by the Division of              their jurisdiction. When the proposed
                                               IV. Solicitation of Comments                            Trading and Markets, pursuant to delegated
                                                                                                                                                             rule changes become operative, Nasdaq
                                                                                                       authority.15
                                                 Interested persons are invited to                                                                           Exchange members, associated persons,
                                                                                                       Eduardo A. Aleman,
                                               submit written data, views, and                                                                               and other persons subject to the
                                                                                                       Assistant Secretary.                                  jurisdiction of the Nasdaq Exchanges
                                               arguments concerning the foregoing,
                                                                                                       [FR Doc. 2018–18165 Filed 8–22–18; 8:45 am]           will be required to comply with the BX
                                               including whether the proposed rule
                                               change is consistent with the Act.                      BILLING CODE 8011–01–P                                Rule 8000 and 9000 Series as though
                                               Comments may be submitted by any of                                                                           such rules are fully set forth within each
                                               the following methods:                                                                                        of the Nasdaq Exchange’s rulebooks.
                                                                                                       SECURITIES AND EXCHANGE
                                                                                                       COMMISSION                                               The Nasdaq Exchanges have
                                               Electronic Comments
                                                                                                                                                             requested, pursuant to Rule 0–12 under
                                                  • Use the Commission’s internet                      [Release No. 34–83887]                                the Exchange Act,5 that the Commission
                                               comment form (http://www.sec.gov/                                                                             grant the Nasdaq Exchanges an
                                               rules/sro.shtml); or                                    Order Granting Applications by
                                                                                                                                                             exemption from the rule filing
                                                  • Send an email to rule-comments@                    Nasdaq ISE, LLC, Nasdaq GEMX, LLC,
                                                                                                                                                             requirements of Section 19(b) of the
                                               sec.gov. Please include File No. SR–                    and Nasdaq MRX, LLC for Exemption
                                                                                                                                                             Exchange Act for changes to each of the
                                               CboeEDGX–2018–033 on the subject                        Pursuant to Section 36(a) of the
                                                                                                                                                             Nasdaq Exchange’s rules that are
                                               line.                                                   Exchange Act From the Rule Filing
                                                                                                                                                             effected solely by virtue of a change to
                                                                                                       Requirements of Section 19(b) of the
                                               Paper Comments                                                                                                the BX Rule 8000 and 9000 Series that
                                                                                                       Exchange Act With Respect to Certain
                                                                                                                                                             are incorporated by reference.
                                                 • Send paper comments in triplicate                   Rules Incorporated by Reference
                                                                                                                                                             Specifically, the Nasdaq Exchanges
                                               to Secretary, Securities and Exchange                   August 20, 2018.                                      request that they be permitted to
                                               Commission, 100 F Street NE,                                                                                  incorporate by reference changes made
                                                                                                          Nasdaq ISE, LLC (‘‘ISE’’), Nasdaq
                                               Washington, DC 20549–1090.                                                                                    to the BX Rule 8000 and 9000 Series
                                                                                                       GEMX, LLC (‘‘GEMX’’), and Nasdaq
                                               All submissions should refer to File No.                MRX, LLC (‘‘MRX’’) (each, a ‘‘Nasdaq                  that are cross-referenced in each of the
                                               SR–CboeEDGX–2018–033. This file                         Exchange,’’ and collectively, the                     Nasdaq Exchange’s rules, without the
                                               number should be included on the                        ‘‘Nasdaq Exchanges’’) have filed with                 need for each Nasdaq Exchange to file
                                               subject line if email is used. To help the              the Securities and Exchange                           separately the same proposed rule
                                               Commission process and review your                      Commission (‘‘Commission’’) an                        changes pursuant to Section 19(b) of the
                                               comments more efficiently, please use                   application for an exemption under                    Exchange Act.6
                                               only one method. The Commission will                    Section 36(a)(1) of the Securities
                                               post all comments on the Commission’s                   Exchange Act of 1934 (‘‘Exchange                         3 See Letter from Brett M. Kitt, Senior Associate
                                               internet website (http://www.sec.gov/                   Act’’) 1 from the rule filing requirements            General Counsel, Nasdaq Inc., to Brent Fields,
daltland on DSKBBV9HB2PROD with NOTICES




                                               rules/sro.shtml). Copies of the                         of Section 19(b) of the Exchange Act 2                Secretary, Commission, dated July 16, 2018
                                               submission, all subsequent                                                                                    (‘‘Exemptive Request’’).
                                                                                                       with respect to certain rules of Nasdaq                  4 See Securities Exchange Act Release Nos. 83703
                                               amendments, all written statements                      BX, Inc. (‘‘BX’’), an affiliate of the                (July 25, 2018) (SR–ISE–2018–59); 83704 (July 25,
                                               with respect to the proposed rule                                                                             2018) (SR–GEMX–2018–24); and 83705 (July 25,
                                                                                                         15 17 CFR 200.30–3(a)(12).                          2018) (SR–MRX–2018–23).
                                                 13 15 U.S.C. 78s(b)(3)(A).                              1 15 U.S.C. 78mm(a)(1).                                5 17 CFR 240.0–12.
                                                 14 17 CFR 240.19b–4(f).                                 2 15 U.S.C. 78s(b).                                    6 See Exemptive Request, supra note 3, at 2.




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                                                                           Federal Register / Vol. 83, No. 164 / Thursday, August 23, 2018 / Notices                                                 42723

                                                  The Nasdaq Exchanges represent that                  such exemption in 2010, the                           conditioned upon the Nasdaq
                                               the BX Rule 8000 and 9000 Series are                    Commission repeated a prior, 2004                     Exchanges promptly providing written
                                               not trading rules. Moreover, the Nasdaq                 Commission statement that it would                    notice to their members whenever the
                                               Exchanges state that in each instance,                  consider similar future exemption                     BX changes a rule that the Nasdaq
                                               the Nasdaq Exchanges propose to                         requests from other self-regulatory                   Exchanges have incorporated by
                                               incorporate by reference categories of                  organizations (‘‘SROs’’), provided that:              reference.
                                               rules (rather than individual rules                        • An SRO wishing to incorporate                      Accordingly, it is ordered, pursuant to
                                               within a category) that are regulatory in               rules of another SRO by reference has                 Section 36 of the Exchange Act,14 that
                                               nature. The Nasdaq Exchanges will, as                   submitted a written request for an order              the Nasdaq Exchanges are exempt from
                                               a condition of this exemption, provide                  exempting it from the requirement in                  the rule filing requirements of Section
                                               written notice to their members                         Section 19(b) of the Exchange Act to file             19(b) of the Exchange Act solely with
                                               whenever BX proposes a change to its                    proposed rule changes relating to the                 respect to changes to the rules identified
                                               Rule 8000 and 9000 Series.7 Such notice                 rules incorporated by reference, has                  in their request that incorporate by
                                               will alert the members of each Nasdaq                   identified the applicable originating                 reference certain BX rules that are the
                                               Exchange to the proposed rule change                    SRO(s), together with the rules it wants              result of changes to such BX rules,
                                               and give them an opportunity to                         to incorporate by reference, and                      provided that the Nasdaq Exchanges
                                               comment on the proposal. The Nasdaq                     otherwise has complied with the                       promptly provide written notice to their
                                               Exchanges state that they will also                     procedural requirements set forth in the              members whenever the BX proposes to
                                               inform members in writing when the                      Commission’s release governing                        change a rule that the Nasdaq Exchanges
                                               Commission approves any such                            procedures for requesting exemptive                   have incorporated by reference.
                                               proposed changes.8                                      orders pursuant to Rule 0–12 under the                  For the Commission, by the Division of
                                                  The Nasdaq Exchanges believe this                    Exchange Act; 11                                      Trading and Markets, pursuant to delegated
                                               exemption is necessary and appropriate,                    • The incorporating SRO has                        authority.15
                                               because it will result in the Nasdaq                    requested incorporation of categories of              Eduardo A. Aleman,
                                               Exchanges’ rules being consistent with                  rules (rather than individual rules                   Assistant Secretary.
                                               the relevant cross-referenced BX rules at               within a category) that are not trading               [FR Doc. 2018–18278 Filed 8–22–18; 8:45 am]
                                               all times, thus ensuring that the Nasdaq                rules (e.g., the SRO has requested                    BILLING CODE 8011–01–P
                                               Exchanges and BX maintain a                             incorporation of rules such as margin,
                                               harmonious system of investigating,                     suitability, or arbitration); and
                                               disciplining, and adjudicating the rights                  • The incorporating SRO has                        SECURITIES AND EXCHANGE
                                               of their respective members, associated                 reasonable procedures in place to                     COMMISSION
                                               persons, and other persons subject to                   provide written notice to its members
                                               their jurisdiction. Without such an                     each time a change is proposed to the                 [Release No. 34–83876; File No. SR–C2–
                                               exemption, members of the Nasdaq                                                                              2018–017]
                                                                                                       incorporated rules of another SRO.12
                                               Exchanges and BX could become subject                      The Commission believes that the
                                               to different standards for investigations                                                                     Self-Regulatory Organizations; Cboe
                                                                                                       Nasdaq Exchanges have satisfied each of               C2 Exchange, Inc.; Notice of Filing and
                                               and disciplinary actions.9                              these conditions. The Commission also
                                                  The Commission has issued                                                                                  Immediate Effectiveness of a Proposed
                                                                                                       believes that granting the Nasdaq                     Rule Change To Amend the Options
                                               exemptions similar to the Nasdaq                        Exchanges an exemption from the rule
                                               Exchanges’ request.10 In granting one                                                                         Regulatory Fee
                                                                                                       filing requirements under Section 19(b)
                                                                                                       of the Exchange Act will promote                      August 17, 2018.
                                                 7 The Nasdaq Exchanges state that they will
                                                                                                       efficient use of Commission and Nasdaq                   Pursuant to Section 19(b)(1) of the
                                               provide such notice on their websites in the same
                                               section they use to post their own proposed rule        Exchange resources by avoiding                        Securities Exchange Act of 1934 (the
                                               change filings pursuant to Rule 19b–4(l) within the     duplicative rule filings based on                     ‘‘Act’’),1 and Rule 19b–4 thereunder,2
                                               timeframe required by such Rule. In addition, the       simultaneous changes to identical rule                notice is hereby given that on August 9,
                                               Nasdaq Exchanges state that their website will also                                                           2018, Cboe C2 Exchange, Inc. (the
                                               include a link to the BX website where the
                                                                                                       text sought by more than one SRO.13
                                               proposed rule change filings are located. Id. at 3.     The Commission therefore finds it                     ‘‘Exchange’’ or ‘‘C2’’) filed with the
                                                 8 Id.                                                 appropriate in the public interest and                Securities and Exchange Commission
                                                 9 Id. at 2.                                           consistent with the protection of                     (the ‘‘Commission’’) the proposed rule
                                                 10 See, e.g., Securities Exchange Act Release Nos.
                                                                                                       investors to exempt the Nasdaq                        change as described in Items I, II, and
                                               80338 (March 29, 2017), 82 FR 16464 (April 4,           Exchanges from the rule filing                        III below, which Items have been
                                               2017) (order granting exemptive request from MIAX
                                               PEARL, LLC relating to rules of Miami International     requirements under Section 19(b) of the               prepared by the Exchange. The
                                               Securities Exchange, LLC incorporated by                Exchange Act with respect to the above-               Commission is publishing this notice to
                                               reference); 72650 (July 22, 2014), 79 FR 44075 (July    described rules they have incorporated                solicit comments on the proposed rule
                                               29, 2014) (order granting exemptive requests from       by reference. This exemption is                       change from interested persons.
                                               NASDAQ OMX BX, Inc. and the NASDAQ Stock
                                               Market LLC relating to rules of NASDAQ OMX
                                                                                                          11 See 17 CFR 240.0–12 and Securities Exchange
                                                                                                                                                             I. Self-Regulatory Organization’s
                                               PHLX LLC incorporated by reference); 67256 (June                                                              Statement of the Terms of Substance of
                                               26, 2012), 77 FR 39277, 39286 (July 2, 2012) (order     Act Release No. 39624 (February 5, 1998), 63 FR
                                               approving SR–BX–2012–030 and granting                   8101 (February 18, 1998) (‘‘Commission Procedures     the Proposed Rule Change
                                               exemptive request relating to rules incorporated by     for Filing Applications for Orders for Exemptive
                                                                                                       Relief Pursuant to Section 36 of the Exchange Act;
                                                                                                                                                                The Exchange proposes to amend its
                                               reference by the BX Options rules); 61534 (February
                                               18, 2010), 75 FR 8760 (February 25, 2010) (order        Final Rule’’).                                        Fees Schedule relating to the Options
                                                                                                                                                             Regulatory Fee.
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                                                                                                          12 See BATS Options Market Order, supra note 10
                                               granting BATS Exchange, Inc.’s exemptive request
                                               relating to rules incorporated by reference by the      (citing Securities Exchange Act Release No. 49260        The text of the proposed rule change
                                               BATS Exchange Options Market rules) (‘‘BATS             (February 17, 2004), 69 FR 8500 (February 24, 2004)   is also available on the Exchange’s
                                               Options Market Order’’); and 57478 (March 12,           (order granting exemptive request relating to rules
                                               2008), 73 FR 14521, 14539–40 (March 18, 2008)           incorporated by reference by several SROs) (‘‘2004
                                                                                                                                                               14 15 U.S.C. 78mm.
                                               (order approving SR–NASDAQ–2007–004 and SR–             Order’’)).
                                                                                                          13 See BATS Options Market Order, supra note         15 17 CFR 200.30–3(a)(76).
                                               NASDAQ–2007–080, and granting exemptive
                                                                                                                                                               1 15 U.S.C. 78s(b)(1).
                                               request relating to rules incorporated by reference     10, 75 FR at 8761; see also 2004 Order, supra note
                                               by The NASDAQ Options Market).                          12, 69 FR at 8502.                                      2 17 CFR 240.19b–4.




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Document Created: 2018-08-23 00:34:07
Document Modified: 2018-08-23 00:34:07
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation83 FR 42722 

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