83 FR 44320 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Reflect in the Exchange's Governing Documents and the Exchange's Rulebook, Changes to the Exchange's Name

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 83, Issue 169 (August 30, 2018)

Page Range		44320-44322
FR Document		2018-18785
Federal Register, Volume 83 Issue 169 (Thursday, August 30, 2018)
[Federal Register Volume 83, Number 169 (Thursday, August 30, 2018)]
[Notices]
[Pages 44320-44322]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-18785]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-83941; File No. SR-BOX-2018-25]


Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Reflect in the Exchange's Governing Documents and the Exchange's 
Rulebook, Changes to the Exchange's Name

August 24, 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 15, 2018, BOX Options Exchange LLC (the ``Exchange'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I, II, and III below, which 
Items have been prepared by the self-regulatory organization. The 
Commission is publishing this notice to solicit comments on the 
proposed rule 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 reflect in the Exchange's governing 
documents and the Exchange's rulebook, changes to the Exchange's name. 
The text of the proposed rule change is available from the principal 
office of the Exchange, at the Commission's Public Reference Room and 
also on the Exchange's internet website at http://boxoptions.com.

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

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

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

1. Purpose
    The purpose of this filing is to reflect in the Exchange's 
governing documents and the Exchange's rulebook, changes to the 
Exchange's name. On July 19, 2018, the BOX Options Exchange LLC Board 
of Directors approved that the name of BOX Options Exchange LLC be 
changed to ``BOX Exchange LLC'' and that each officer of the Company 
be, and hereby is, authorized and directed to undertake any actions 
required or advisable to carry out the name change, including with 
respect to the SEC and any governmental or third parties. The Exchange 
intends for these changes to be effective upon filing.
    As proposed, references to the Exchange's name will be deleted and 
revised to state the new name, as described more fully below. No other 
substantive changes are being proposed in this filing. The Exchange 
represents that these changes are concerned solely with the 
administration of the Exchange and do not affect the meaning, 
administration, or enforcement of any rules of the Exchange or the 
rights, obligations, or privileges of Exchange members or their 
associated persons in any way. Accordingly, this filing is being 
submitted under Rule 19b-4(f)(3). In lieu of providing a copy of the

[[Page 44321]]

marked name changes, the Exchange represents that it will make the 
necessary non-substantive revisions described below to the Exchange's 
corporate governance documents and rulebook, and post updated versions 
of each on the Exchange's website pursuant to Rule 19b-4(m)(2).
The Exchange's Name Change
    In connection with the name change of the Exchange, the Exchange is 
proposing to amend the Exchange's operative documents. Therefore, the 
Exchange proposes to amend the Exchange's Certificate of Amendment 
[sic] (the ``Exchange Certificate''), the Exchange's Limited Liability 
Company Agreement (the ``Exchange LLC Agreement''), the Exchange's 
Bylaws and the Exchange's Rules (collectively ``operative documents'') 
in connection with the name change of the Exchange. Within these 
documents the Exchange proposes to delete all references to BOX Options 
Exchange LLC and replace it with ``BOX Exchange LLC.''
    In connection with the name change, the Exchange is also proposing 
to make non-substantive conforming changes to the BOX Holdings LLC 
Agreement and BOX Market LLC Agreement. Specifically, the Exchange 
proposes to delete all references to BOX Options Exchange LLC and 
replace it with ``BOX Exchange LLC'' in these documents.
Other Changes to the Exchange LLC Agreement
    Lastly, the Exchange is also proposing to make other administrative 
changes in the Exchange LLC Agreement:

--Amend the preamble of the LLC Agreement and remove references to the 
Members of the Exchange. All Members are already detailed in Schedule 1 
of the Exchange LLC Agreement.
--Amend the definition of ``Member'' in Article 1 to conform to the 
changes made in the preamble.
--Amend the definition of ``MXUS2'' to conform to the changes made in 
the preamble.
--Amend Section 18.3 (Notices) to update the notification requirements 
for Members.
--Amend Schedule 1 of the LLC Agreement to conform changes to the Unit 
Holders and applicable Economic Units, Economic Percentage Interest, 
Voting Units and Voting Percentage Interest already in place.\3\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release Nos. 67273 (June 27, 
2012), 77 FR 39547 (July 3, 2012) (SR-BOX-2012-008), 74267 (February 
12, 2015), 80 FR 8913 (February 19, 2015) (SR-BOX-2015-009), 74477 
(March 11, 2015), 80 FR 13932 (March 17, 2015) (SR-BOX-2015-14).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act.\4\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(1) \5\ in that it enables the Exchange to be so organized 
as to have the capacity to be able to carry out the purposes of the 
Exchange Act and to comply, and to enforce compliance by its exchange 
members and persons associate with its exchange members, with the 
provisions of the Exchange Act, the rules and regulations thereunder, 
and the rules of the Exchange.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------

    In particular, the proposed change is a non-substantive change and 
does not impact the governance, ownership or operations of the 
Exchange. The Exchange believes that by ensuring that the Exchanges 
operative documents accurately reflect the new legal names, the 
proposed rule change would reduce potential investor or market 
participant confusion.
    Further, the Exchange believes that the changes to the Exchange LLC 
Agreement would remove impediments to, and perfect the mechanism of a 
free and open market and a national market system and, in general, 
protect investors and the public interest because the change would 
eliminate duplicate references to the Members and make conforming 
changes to the ownership details that are already in place, thereby 
reducing potential confusion. Market participants and investors would 
not be harmed and in fact could benefit from the increased clarity and 
transparency in the Exchange LLC Agreement, ensuring that market 
participants could more easily understand the Exchange LLC Agreement.

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 that is not necessary or appropriate 
in furtherance of the purposes of the Act. The proposed rule change is 
not intended to address competitive issues but rather is concerned 
solely with updating the Exchange's governance and operative documents 
to reflect the abovementioned name changes.

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 comments on the 
proposed rule change.

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

    This proposed rule change is filed pursuant to paragraph (A) of 
section 19(b)(3) of the Exchange Act \6\ and Rule 19b-4(f)(3) 
thereunder in that the proposed rule changes is concerned solely with 
the administration of the Exchange.\7\
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act. If the Commission 
takes such action, the Commission shall institute proceedings to 
determine whether the proposed rule 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 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-BOX-2018-25 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-BOX-2018-25. 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

[[Page 44322]]

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, on official business days 
between the hours of 10:00 a.m. and 3:00 p.m., located at 100 F Street 
NE, Washington, DC 20549. Copies of such 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-BOX-2018-25 and should be 
submitted on or before September 20, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-18785 Filed 8-29-18; 8:45 am]
BILLING CODE 8011-01-P
44320 Federal Register / Vol. 83, No. 169 / Thursday, August 30, 2018 / Notices

securities and that will enhance proposed rule change between the I. Self-Regulatory Organization’s
competition among market participants, Commission and any person, other than Statement of the Terms of Substance of
to the benefit of investors and the those that may be withheld from the the Proposed Rule Change
marketplace. public in accordance with the The Exchange proposes to reflect in
provisions of 5 U.S.C. 552, will be the Exchange’s governing documents
C. Self-Regulatory Organization’s
available for website viewing and and the Exchange’s rulebook, changes to
Statement on Comments on the
printing in the Commission’s Public the Exchange’s name. The text of the
Proposed Rule Change Received From
Reference Room, 100 F Street NE, proposed rule change is available from
Members, Participants, or Others
Washington, DC 20549, on official the principal office of the Exchange, at
No written comments were solicited business days between the hours of the Commission’s Public Reference
or received with respect to the proposed 10:00 a.m. and 3:00 p.m. Copies of the Room and also on the Exchange’s
rule change. filing also will be available for internet website at http://
III. Date of Effectiveness of the inspection and copying at the principal boxoptions.com.
Proposed Rule Change and Timing for office of the Exchange. All comments
received will be posted without change. II. Self-Regulatory Organization’s
Commission Action Statement of the Purpose of, and
Persons submitting comments are
Within 45 days of the date of cautioned that we do not redact or edit Statutory Basis for, the Proposed Rule
publication of this notice in the Federal personal identifying information from Change
Register or within such longer period comment submissions. You should In its filing with the Commission, the
up to 90 days (i) as the Commission may submit only information that you wish self-regulatory organization included
designate if it finds such longer period to make available publicly. All statements concerning the purpose of,
to be appropriate and publishes its submissions should refer to File and basis for, the proposed rule change
reasons for so finding or (ii) as to which Number SR–NYSEArca–2018–60, and and discussed any comments it received
the self-regulatory organization should be submitted on or before on the proposed rule change. The text
consents, the Commission will: October 1, 2018. of these statements may be examined at
(A) By order approve or disapprove the places specified in Item IV below.
the proposed rule change, or For the Commission, by the Division of
Trading and Markets, pursuant to delegated The self-regulatory organization has
(B) institute proceedings to determine prepared summaries, set forth in
authority.35
whether the proposed rule change Sections A, B, and C below, of the most
should be disapproved. Eduardo A. Aleman,
Assistant Secretary. significant aspects of such statements.
IV. Solicitation of Comments [FR Doc. 2018–18781 Filed 8–29–18; 8:45 am] A. Self-Regulatory Organization’s
Interested persons are invited to BILLING CODE 8011–01–P Statement of the Purpose of, and
submit written data, views, and Statutory Basis for, the Proposed Rule
arguments concerning the foregoing, Change
including whether the proposed rule SECURITIES AND EXCHANGE
change is consistent with the Act. COMMISSION 1. Purpose
Comments may be submitted by any of The purpose of this filing is to reflect
the following methods: [Release No. 34–83941; File No. SR–BOX– in the Exchange’s governing documents
2018–25] and the Exchange’s rulebook, changes to
Electronic Comments the Exchange’s name. On July 19, 2018,
• Use the Commission’s internet Self-Regulatory Organizations; BOX the BOX Options Exchange LLC Board
comment form (http://www.sec.gov/ Options Exchange LLC; Notice of of Directors approved that the name of
rules/sro.shtml); or Filing and Immediate Effectiveness of BOX Options Exchange LLC be changed
• Send an email to rule-comments@ a Proposed Rule Change To Reflect in to ‘‘BOX Exchange LLC’’ and that each
sec.gov. Please include File Number SR– the Exchange’s Governing Documents officer of the Company be, and hereby
NYSEArca–2018–60 on the subject line. and the Exchange’s Rulebook, is, authorized and directed to undertake
Paper Comments Changes to the Exchange’s Name any actions required or advisable to
carry out the name change, including
• Send paper comments in triplicate August 24, 2018. with respect to the SEC and any
to Secretary, Securities and Exchange Pursuant to Section 19(b)(1) of the governmental or third parties. The
Commission, 100 F Street NE, Securities Exchange Act of 1934 Exchange intends for these changes to
Washington, DC 20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2 be effective upon filing.
All submissions should refer to File notice is hereby given that on August As proposed, references to the
Number SR–NYSEArca–2018–60. This 15, 2018, BOX Options Exchange LLC Exchange’s name will be deleted and
file number should be included on the (the ‘‘Exchange’’) filed with the revised to state the new name, as
subject line if email is used. To help the Securities and Exchange Commission described more fully below. No other
Commission process and review your (‘‘Commission’’) the proposed rule substantive changes are being proposed
comments more efficiently, please use change as described in Items I, II, and in this filing. The Exchange represents
only one method. The Commission will III below, which Items have been that these changes are concerned solely
post all comments on the Commission’s prepared by the self-regulatory with the administration of the Exchange
internet website (http://www.sec.gov/ organization. The Commission is and do not affect the meaning,
amozie on DSK3GDR082PROD with NOTICES1

rules/sro.shtml). Copies of the publishing this notice to solicit administration, or enforcement of any
submission, all subsequent comments on the proposed rule from rules of the Exchange or the rights,
amendments, all written statements interested persons. obligations, or privileges of Exchange
with respect to the proposed rule members or their associated persons in
change that are filed with the 35 17 CFR 200.30–3(a)(12). any way. Accordingly, this filing is
Commission, and all written 1 15 U.S.C. 78s(b)(1). being submitted under Rule 19b–4(f)(3).
communications relating to the 2 17 CFR 240.19b–4. In lieu of providing a copy of the

VerDate Sep<11>2014 17:25 Aug 29, 2018 Jkt 244001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 E:\FR\FM\30AUN1.SGM 30AUN1
Federal Register / Vol. 83, No. 169 / Thursday, August 30, 2018 / Notices 44321

marked name changes, the Exchange 2. Statutory Basis C. Self-Regulatory Organization’s
represents that it will make the Statement on Comments on the
necessary non-substantive revisions The Exchange believes the proposed Proposed Rule Change Received From
described below to the Exchange’s rule change is consistent with the Members, Participants, or Others
corporate governance documents and Securities Exchange Act of 1934 (the
The Exchange has neither solicited
rulebook, and post updated versions of ‘‘Act’’) and the rules and regulations
nor received comments on the proposed
each on the Exchange’s website thereunder applicable to the Exchange
rule change.
pursuant to Rule 19b–4(m)(2). and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically, III. Date of Effectiveness of the
The Exchange’s Name Change the Exchange believes the proposed rule Proposed Rule Change and Timing for
In connection with the name change change is consistent with the Section Commission Action
of the Exchange, the Exchange is 6(b)(1) 5 in that it enables the Exchange This proposed rule change is filed
proposing to amend the Exchange’s to be so organized as to have the pursuant to paragraph (A) of section
operative documents. Therefore, the capacity to be able to carry out the 19(b)(3) of the Exchange Act 6 and Rule
Exchange proposes to amend the purposes of the Exchange Act and to 19b–4(f)(3) thereunder in that the
Exchange’s Certificate of Amendment comply, and to enforce compliance by proposed rule changes is concerned
[sic] (the ‘‘Exchange Certificate’’), the its exchange members and persons solely with the administration of the
Exchange’s Limited Liability Company associate with its exchange members, Exchange.7
Agreement (the ‘‘Exchange LLC with the provisions of the Exchange Act, At any time within 60 days of the
Agreement’’), the Exchange’s Bylaws the rules and regulations thereunder, filing of the proposed rule change, the
and the Exchange’s Rules (collectively and the rules of the Exchange. Commission summarily may
‘‘operative documents’’) in connection temporarily suspend such rule change if
In particular, the proposed change is
with the name change of the Exchange. it appears to the Commission that such
a non-substantive change and does not
Within these documents the Exchange action is necessary or appropriate in the
impact the governance, ownership or
proposes to delete all references to BOX public interest, for the protection of
operations of the Exchange. The
Options Exchange LLC and replace it investors, or otherwise in furtherance of
Exchange believes that by ensuring that
with ‘‘BOX Exchange LLC.’’ the purposes of the Act. If the
In connection with the name change, the Exchanges operative documents
accurately reflect the new legal names, Commission takes such action, the
the Exchange is also proposing to make Commission shall institute proceedings
non-substantive conforming changes to the proposed rule change would reduce
potential investor or market participant to determine whether the proposed rule
the BOX Holdings LLC Agreement and should be approved or disapproved.
BOX Market LLC Agreement. confusion.
Specifically, the Exchange proposes to Further, the Exchange believes that IV. Solicitation of Comments
delete all references to BOX Options the changes to the Exchange LLC Interested persons are invited to
Exchange LLC and replace it with ‘‘BOX Agreement would remove impediments submit written data, views and
Exchange LLC’’ in these documents. to, and perfect the mechanism of a free arguments concerning the foregoing,
and open market and a national market including whether the proposed rule
Other Changes to the Exchange LLC
system and, in general, protect investors change is consistent with the Act.
Agreement
and the public interest because the Comments may be submitted by any of
Lastly, the Exchange is also proposing change would eliminate duplicate the following methods:
to make other administrative changes in references to the Members and make
the Exchange LLC Agreement: Electronic Comments
conforming changes to the ownership
—Amend the preamble of the LLC details that are already in place, thereby • Use the Commission’s internet
Agreement and remove references to reducing potential confusion. Market comment form (http://www.sec.gov/
the Members of the Exchange. All participants and investors would not be rules/sro.shtml); or
Members are already detailed in harmed and in fact could benefit from • Send an email to rule-comments@
Schedule 1 of the Exchange LLC the increased clarity and transparency sec.gov. Please include File Number SR–
Agreement. in the Exchange LLC Agreement, BOX–2018–25 on the subject line.
—Amend the definition of ‘‘Member’’ in ensuring that market participants could Paper Comments
Article 1 to conform to the changes more easily understand the Exchange
made in the preamble. • Send paper comments in triplicate
LLC Agreement. to Secretary, Securities and Exchange
—Amend the definition of ‘‘MXUS2’’ to
conform to the changes made in the B. Self-Regulatory Organization’s Commission, 100 F Street NE,
preamble. Statement on Burden on Competition Washington, DC 20549–1090.
—Amend Section 18.3 (Notices) to All submissions should refer to File
update the notification requirements The Exchange does not believe that Number SR–BOX–2018–25. This file
for Members. the proposed rule change will impose number should be included on the
—Amend Schedule 1 of the LLC any burden on competition that is not subject line if email is used. To help the
Agreement to conform changes to the necessary or appropriate in furtherance Commission process and review your
Unit Holders and applicable of the purposes of the Act. The comments more efficiently, please use
Economic Units, Economic Percentage proposed rule change is not intended to only one method. The Commission will
Interest, Voting Units and Voting address competitive issues but rather is post all comments on the Commission’s
amozie on DSK3GDR082PROD with NOTICES1

Percentage Interest already in place.3 concerned solely with updating the internet website (http://www.sec.gov/
Exchange’s governance and operative rules/sro.shtml). Copies of the
3 See Securities Exchange Act Release Nos. 67273 documents to reflect the submission, all subsequent
(June 27, 2012), 77 FR 39547 (July 3, 2012) (SR– abovementioned name changes.
BOX–2012–008), 74267 (February 12, 2015), 80 FR
amendments, all written statements
8913 (February 19, 2015) (SR–BOX–2015–009),
4 15 U.S.C. 78f(b). 6 15 U.S.C. 78s(b)(3)(A).
74477 (March 11, 2015), 80 FR 13932 (March 17,
2015) (SR–BOX–2015–14). 5 15 U.S.C. 78f(b)(1). 7 17 CFR 240.19b–4(f)(3).

VerDate Sep<11>2014 17:25 Aug 29, 2018 Jkt 244001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 E:\FR\FM\30AUN1.SGM 30AUN1
Document Created: 2018-08-30 01:21:28
Document Modified: 2018-08-30 01:21:28
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 44320