83 FR 49960 - Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment Nos. 1 and 3, To Permit the Listing and Trading of Options That Overlie the Mini-SPX Index and the Russell 2000 Index
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 192 (October 3, 2018)
Federal Register Volume 83, Issue 192 (October 3, 2018)
| Page Range | 49960-49962 | |
| FR Document | 2018-21486 |
[Federal Register Volume 83, Number 192 (Wednesday, October 3, 2018)] [Notices] [Pages 49960-49962] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-21486] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84299; File No. SR-CboeEDGX-2018-035] Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Order Approving a Proposed Rule Change, as Modified by Amendment Nos. 1 and 3, To Permit the Listing and Trading of Options That Overlie the Mini- SPX Index and the Russell 2000 Index September 27, 2018. I. Introduction On August 10, 2018, Cboe EDGX Exchange, Inc. (``Exchange'') filed with the Securities and Exchange Commission (``Commission'' or ``SEC''), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to permit the listing and trading of options that overlie the Mini-SPX Index (``XSP options''), the Russell 2000 Index (``RUT options''), and the Dow Jones Industrial Average (``DJX options''). The proposed rule change was published for comment in the Federal Register on August 21, 2018.\3\ The Commission received no comments in response to the Notice. On September 18, 2018, the Exchange filed Amendment No. 1 to the proposal.\4\ On September 25, 2018, the Exchange filed Amendment No. 3 to the proposal.\5\ This order approves the proposed rule change, as modified by Amendment Nos. 1 and 3 thereto. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ See Securities Exchange Act Release No. 83853 (August 15, 2018), 83 FR 42344 (``Notice''). \4\ Amendment No. 1 provides that the lowest strike price interval that may be listed for XSP option series under the Short Term Option Series Program is $0.50. The Exchange notes that this provision was inadvertently omitted in the initial filing. Amendment No. 1 is available at https://www.sec.gov/comments/sr-cboeedgx-2018-035/srcboeedgx2018035-4388446-175573.pdf. Because Amendment No. 1 does not materially alter the substance of the proposed rule change or raise unique or novel regulatory issues, Amendment No. 1 is not subject to notice and comment. \5\ The Exchange filed Amendment No. 2 to the proposal on September 24, 2018. On September 25, 2018, the Exchange withdrew Amendment No. 2 and replaced it with Amendment No. 3. Amendment No. 3 removes all aspects of the proposal related to the listing and trading of DJX options. Amendment No. 3 is available at https://www.sec.gov/comments/sr-cboeedgx-2018-035/srcboeedgx2018035-4423273-175678.pdf. Because Amendment No. 3 removes all references specific to the listing and trading of DJX options from the original proposal and does not raise unique or novel regulatory issues, Amendment No. 3 is not subject to notice and comment. --------------------------------------------------------------------------- II. Description of the Amended Proposal 6 --------------------------------------------------------------------------- \6\ For a more complete description of the proposed rule change, see Notice, supra note 3; Amendment No. 1, supra note 4; and Amendment No. 3, supra note 5. --------------------------------------------------------------------------- The Exchange proposes to amend the Exchange's index options rules to permit the listing and trading of XSP options and RUT options. As more fully set forth in the Notice and Amendment Nos. 1 and 3 and further described below, the proposed new rules and changes to existing rules of the Exchange are based on the existing rules of other options exchanges.\7\ --------------------------------------------------------------------------- \7\ See, e.g., Cboe Options Rules 6.42, 24.7, and 24.9; C2 Rule 6.11(a)(2). --------------------------------------------------------------------------- XSP and RUT options will be A.M., cash-settled contracts with European-style exercise.\8\ XSP options are options on the Mini-SPX Index, the current value of which is 1/10th the value of the Standard & Poor's 500 Stock Index reported by the reporting authority.\9\ RUT options are options on the Russell 2000 Index.\10\ According to the Exchange, the index underlying each of XSP and RUT options satisfies the criteria of a broad-based index for the initial listing of options on that index, as set forth in Rule 29.3(b). XSP and RUT options will be subject to the maintenance listing standards set forth in Rule 29.3(c).\11\ --------------------------------------------------------------------------- \8\ See proposed changes to Rule 29.11(a)(4) and Rule 29.11(a)(5)(B). \9\ See proposed Interpretation and Policy .01 to Rule 29.11, which states that the current index value of XSP options will be 1/ 10th the value of the Standard & Poor's 500 Stock Index reported by the reporting authority. The Exchange states that the S&P Dow Jones Indices is the reporting authority for the Mini-SPX Index. See proposed Interpretation and Policy .01 to Rule 29.2. \10\ The Exchange states that the Frank Russell Company is the reporting authority for the Russell 2000 Index. See proposed Interpretation and Policy .01 to Rule 29.2. \11\ In the event XSP or RUT options fails to satisfy the maintenance listing standards set forth in Rule 29.3(c), the Exchange states that it will not open for trading any additional series of options of that class unless the continued listing of that class of index options has been approved by the Commission under Section 19(b)(2) of the Act. See Notice, supra note 3, at 42345, n. 4. --------------------------------------------------------------------------- As described more fully in the Notice and Amendment Nos. 1 and 3, the Exchange has proposed rules related to the listing and trading of XSP and RUT, including the minimum increments applicable to XSP \12\ and strike intervals applicable to both XSP and RUT.\13\ In addition, the Exchange has proposed changes to its long-term index options [[Page 49961]] rules, including proposing to extend the maximum term to 180 months (15 years) \14\ and adding RUT to the list of indices on which the Exchange may list reduced-value long-term options series.\15\ The proposed rule change also modifies the Exchange's rules to describe the opening process for index options,\16\ which the Exchange states will be the same as the opening process for index options on C2 Exchange, Inc. (``C2'').\17\ The Exchange also proposed rule changes to clarify the applicability of certain provisions of its rules.\18\ Additionally, the Exchange has proposed changes to its rules relating to trading halts,\19\ the obvious error process,\20\ and listing additional expiration months \21\ that are consistent with the rules of another options exchange.\22\ --------------------------------------------------------------------------- \12\ See proposed Rule 21.5, Interpretation and Policy .02. The minimum increment for RUT will be as set forth in current Rule 21.5: Five cents if the series is trading below $3.00, and ten cents if the series is trading at or above $3.00. See Notice, supra note 3, at 42345. \13\ See proposed changes to Rule 29.11(c)(1) and (c)(5). \14\ See proposed change to Rule 29.11(b)(1). The Exchange represents that it has confirmed with the Options Clearing Corporation (``OCC'') that OCC can configure its systems to support long-term options contracts that have a maximum term of 180 months (15 years). See Notice, supra note 3, at 42346. \15\ See proposed change to Rule 29.11(b)(2). The Exchange represents that the reduced-value long-term RUT series will be subject to the same trading rules as long-term RUT series, except the minimum strike price interval will be $2.50 for all series regardless of the strike price. See Notice, supra note 3, at 42346. The Exchange also states that for reduced-value long-term RUT series, the underlying value will be computed at 10% of the value of the Russell 2000 Index. See id. \16\ See proposed changes to Rule 21.7. \17\ See Notice, supra note 3, at 42348. \18\ See proposed changes to Rules 29.11(b)(1)(A), 29.13(b); proposed Rule 29.15. \19\ See proposed changes to Rule 29.10(b). \20\ See proposed changes to Rule 20.6(g) and (h). \21\ See proposed Rule 29.11(i). \22\ See Cboe Options Rule 6.42, Interpretation and Policy .03; Cboe Options Rule 6.25(g) and (h); and Cboe Options Rule 24.9, Interpretation and Policy .01(b). --------------------------------------------------------------------------- The Exchange represents it has an adequate surveillance program in place for index options, and that it is a member of the Intermarket Surveillance Group (``ISG'').\23\ Additionally, the Exchange represents that has analyzed its capacity and believes that it and the Options Price Reporting Authority (``OPRA'') have the necessary systems capacity to handle the additional traffic associated with the listing of XSP and RUT options up to the proposed number of possible expirations and strike prices.\24\ The Exchange believes that any additional traffic that would be generated from the introduction of XSP and RUT options will be manageable, and that its Members will not have a capacity issue as a result of this proposed rule change.\25\ The Exchange also represents that it does not believe this expansion will cause fragmentation of liquidity.\26\ The Exchange states that it will monitor the trading volume associated with the additional options series listed as a result of this proposed rule change and the effect (if any) of these additional series on market fragmentation and on the capacity of the Exchange's automated systems.\27\ --------------------------------------------------------------------------- \23\ See Notice, supra note 3, at 42349-50. \24\ Id. at 42350. \25\ Id. \26\ Id. \27\ Id. --------------------------------------------------------------------------- The Exchange states that XSP and RUT options will be subject to the margin requirements set forth in Chapter 28 and the position limits set forth in Rule 29.5. Chapter 28 imposes the margin requirements of either Cboe Options or the New York Stock Exchange on Exchange Options Members. Similarly, Rule 29.5 imposes position (and exercise) limits for broad-based index options of Cboe Options on Exchange Options Members. XSP and RUT options are currently listed and traded on Cboe Options, and the Exchange proposes that the same margin requirements and position and exercise limits that apply to these products as traded on Cboe Options will apply to these products when listed and traded on the Exchange.\28\ --------------------------------------------------------------------------- \28\ Id. --------------------------------------------------------------------------- III. Discussion and Commission's Findings The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.\29\ Specifically, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act,\30\ which requires, among other things, that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \29\ In approving this proposed rule change, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). \30\ 15 U.S.C. 78f(b). --------------------------------------------------------------------------- The Commission believes that the Exchange's proposal gives options investors the ability to make an additional investment choice in a manner consistent with the requirements of Section 6(b)(5) of the Act.\31\ The Commission notes that the Exchange represents that the index underlying each of XSP and RUT options satisfies the criteria of a broad-based index for the initial listing of options on that index in Rule 29.3(b), which rule has previously been approved by the Commission.\32\ In considering the proposed changes to the Exchange rules related to the listing and trading of XSP and RUT, including the rules related to minimum increments \33\ and strike price intervals,\34\ the Commission notes that the proposed rules are consistent with the rules of another exchange.\35\ In addition, the Commission notes that the proposed rule changes related to long-term options series,\36\ trading halts,\37\ the obvious error process,\38\ the opening process \39\ and listing additional expiration months \40\ are also consistent with the rules of other exchanges.\41\ The Commission believes that the Exchange's proposal does not raise any novel regulatory issues, as it is consistent with the rules of other national securities exchanges previously approved by the Commission. Finally, the Commission notes that certain of the Exchange's proposed rule changes are intended to promote clarity about the applicability of the Exchange's rules,\42\ thereby reducing any potential investor confusion. --------------------------------------------------------------------------- \31\ 15 U.S.C. 78f(b)(5). \32\ See Securities Exchange Act Release No. 75650 (August 7, 2015), 80 FR 48600 (August 13, 2015). Additionally, the Commission notes that options on XSP and RUT will be subject to the maintenance listing standards of Rule 29.3(c). The Exchange represents that in the event XSP or RUT options fails to satisfy the maintenance listing standards set forth herein, the Exchange will not open for trading any additional series of options of that class unless the continued listing of that class of index options has been approved by the Commission under Section 19(b)(2) of the Exchange Act. See Notice, supra note 3, at 42345, n. 4. \33\ See proposed Rule 21.5, Interpretation and Policy .02. \34\ See proposed Rule 29.11(c)(1) and (c)(5). \35\ See Cboe Options Rule 6.42, Interpretation and Policy .03; Cboe Options Rule 24.9. Interpretations and Policies .01(a), .11. \36\ See proposed changes to Rule 29.11(b). \37\ See proposed changes to Rule 29.10(b). \38\ See proposed changes to Rule 20.6(g) and (h). \39\ See proposed changes to Rule 21.7. \40\ See proposed Rule 29.11(i). \41\ See, e.g., Cboe Options Rule 24.9(b)(1); Cboe Options Rule 24.9, Interpretation and Policy .13; Cboe Options Rule 24,7(a); Phlx Rule 1047A(c); Cboe Options Rule 6.25(g) and (h); C2 Rule 6.11(a)(2). \42\ See, e.g., proposed changes to Rule 29.11(b)(1)(A); Rule 29.13; Rule 29.15. --------------------------------------------------------------------------- The Commission further believes that the Exchange's proposed position and exercise limits, margin requirements and other aspects of the proposed rule change related to the listing and trading of XSP and RUT options are appropriate and consistent with the Act. In particular, the Commission notes that the Exchange rules regarding position and exercise limits and margin requirements incorporate by reference the corresponding Cboe Options rules [[Page 49962]] which were previously approved by the Commission. The Commission notes that the Exchange represents that it has an adequate surveillance program in place for index options.\43\ Further, the Exchange is a member of the ISG, which provides for the sharing of information and the coordination of regulatory efforts among exchanges trading securities and related products to address potential intermarket manipulations and trading abuses. --------------------------------------------------------------------------- \43\ See Notice, supra note 3, at 42349-50. --------------------------------------------------------------------------- In approving the proposed rule change, the Commission has also relied upon the Exchange's representation that it and OPRA have the necessary systems capacity to support the new options series that will result from this proposal, and that the Exchange will monitor the trading volume associated with the additional options series listed as a result of this proposed rule change and the effect (if any) of these additional series on market fragmentation and on the capacity of the Exchange's automated systems.\44\ --------------------------------------------------------------------------- \44\ See id. at 42350. --------------------------------------------------------------------------- IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,\45\ that the proposed rule change (SR-CboeEDGX-2018-035), as modified by Amendment Nos. 1 and 3, be approved. --------------------------------------------------------------------------- \45\ 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\46\ --------------------------------------------------------------------------- \46\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-21486 Filed 10-2-18; 8:45 am] BILLING CODE 8011-01-P
![49960 Federal Register / Vol. 83, No. 192 / Wednesday, October 3, 2018 / Notices
material information, to do so through SECURITIES AND EXCHANGE II. Description of the Amended
public disclosure, not selective COMMISSION Proposal 6
disclosure; and (2) to make prompt The Exchange proposes to amend the
public disclosure of material [Release No. 34–84299; File No. SR– Exchange’s index options rules to
information that was unintentionally CboeEDGX–2018–035] permit the listing and trading of XSP
selectively disclosed. Regulation FD was options and RUT options. As more fully
adopted due to a concern that the Self-Regulatory Organizations; Cboe set forth in the Notice and Amendment
practice of selective disclosure leads to EDGX Exchange, Inc.; Order Nos. 1 and 3 and further described
a loss of investor confidence in the Approving a Proposed Rule Change, below, the proposed new rules and
integrity of our capital markets. All as Modified by Amendment Nos. 1 and changes to existing rules of the
information is provided to the public for 3, To Permit the Listing and Trading of Exchange are based on the existing rules
review. The information required is Options That Overlie the Mini-SPX of other options exchanges.7
filed on occasion and is mandatory. We Index and the Russell 2000 Index XSP and RUT options will be A.M.,
estimate that approximately 13,000 cash-settled contracts with European-
issuers make Regulation FD disclosures September 27, 2018. style exercise.8 XSP options are options
on the Mini-SPX Index, the current
approximately five times a year for a I. Introduction value of which is 1/10th the value of the
total of 58,000 submissions annually, Standard & Poor’s 500 Stock Index
not including an estimated 7,000 issuers On August 10, 2018, Cboe EDGX
Exchange, Inc. (‘‘Exchange’’) filed with reported by the reporting authority.9
who file Form 8–K to comply with RUT options are options on the Russell
Regulation FD. We estimate that it takes the Securities and Exchange
2000 Index.10 According to the
approximately 5 hours per response Commission (‘‘Commission’’ or ‘‘SEC’’),
Exchange, the index underlying each of
(58,000 responses × 5 hours) for a total pursuant to Section 19(b)(1) of the XSP and RUT options satisfies the
burden of 290,000 hours annually. In Securities Exchange Act of 1934 criteria of a broad-based index for the
addition, we estimate that 25% of the 5 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a initial listing of options on that index,
hours (1.25 hours) is prepared by the proposed rule change to permit the as set forth in Rule 29.3(b). XSP and
filer for an annual reporting burden of listing and trading of options that RUT options will be subject to the
72,500 hours (1.25 hours per response × overlie the Mini-SPX Index (‘‘XSP maintenance listing standards set forth
58,000 responses). options’’), the Russell 2000 Index (‘‘RUT in Rule 29.3(c).11
options’’), and the Dow Jones Industrial As described more fully in the Notice
An agency may not conduct or
Average (‘‘DJX options’’). The proposed and Amendment Nos. 1 and 3, the
sponsor, and a person is not required to Exchange has proposed rules related to
rule change was published for comment
respond to, a collection of information the listing and trading of XSP and RUT,
in the Federal Register on August 21,
unless it displays a currently valid including the minimum increments
2018.3 The Commission received no
control number. applicable to XSP 12 and strike intervals
comments in response to the Notice. On
The public may view the background September 18, 2018, the Exchange filed applicable to both XSP and RUT.13 In
documentation for this information Amendment No. 1 to the proposal.4 On addition, the Exchange has proposed
collection at the following website, September 25, 2018, the Exchange filed changes to its long-term index options
www.reginfo.gov. Comments should be Amendment No. 3 to the proposal.5 This 6 For a more complete description of the proposed
directed to: (i) Desk Officer for the order approves the proposed rule rule change, see Notice, supra note 3; Amendment
Securities and Exchange Commission, change, as modified by Amendment No. 1, supra note 4; and Amendment No. 3, supra
Office of Information and Regulatory Nos. 1 and 3 thereto. note 5.
7 See, e.g., Cboe Options Rules 6.42, 24.7, and
Affairs, Office of Management and
24.9; C2 Rule 6.11(a)(2).
Budget, Room 10102, New Executive 1 15 U.S.C. 78s(b)(1). 8 See proposed changes to Rule 29.11(a)(4) and
Office Building, Washington, DC 20503, 2 17 CFR 240.19b–4. Rule 29.11(a)(5)(B).
or by sending an email to: Shagufta_ 3 See Securities Exchange Act Release No. 83853 9 See proposed Interpretation and Policy .01 to
Ahmed@omb.eop.gov; and (ii) Pamela (August 15, 2018), 83 FR 42344 (‘‘Notice’’). Rule 29.11, which states that the current index
4 Amendment No. 1 provides that the lowest value of XSP options will be 1/10th the value of the
Dyson, Director/Chief Information strike price interval that may be listed for XSP Standard & Poor’s 500 Stock Index reported by the
Officer, Securities and Exchange option series under the Short Term Option Series reporting authority. The Exchange states that the
Commission, c/o Candace Kenner, 100 F Program is $0.50. The Exchange notes that this S&P Dow Jones Indices is the reporting authority for
provision was inadvertently omitted in the initial the Mini-SPX Index. See proposed Interpretation
Street NE, Washington, DC 20549 or and Policy .01 to Rule 29.2.
filing. Amendment No. 1 is available at https://
send an email to: PRA_Mailbox@ www.sec.gov/comments/sr-cboeedgx-2018-035/ 10 The Exchange states that the Frank Russell
sec.gov. Comments must be submitted to srcboeedgx2018035-4388446-175573.pdf. Because Company is the reporting authority for the Russell
OMB within 30 days of this notice. Amendment No. 1 does not materially alter the 2000 Index. See proposed Interpretation and Policy
substance of the proposed rule change or raise .01 to Rule 29.2.
Dated: September 27, 2018. unique or novel regulatory issues, Amendment No. 11 In the event XSP or RUT options fails to satisfy
Eduardo A. Aleman, 1 is not subject to notice and comment. the maintenance listing standards set forth in Rule
5 The Exchange filed Amendment No. 2 to the 29.3(c), the Exchange states that it will not open for
Assistant Secretary. proposal on September 24, 2018. On September 25, trading any additional series of options of that class
[FR Doc. 2018–21509 Filed 10–2–18; 8:45 am] 2018, the Exchange withdrew Amendment No. 2 unless the continued listing of that class of index
and replaced it with Amendment No. 3. options has been approved by the Commission
BILLING CODE 8011–01–P under Section 19(b)(2) of the Act. See Notice, supra
Amendment No. 3 removes all aspects of the
daltland on DSKBBV9HB2PROD with NOTICES
proposal related to the listing and trading of DJX note 3, at 42345, n. 4.
12 See proposed Rule 21.5, Interpretation and
options. Amendment No. 3 is available at https://
www.sec.gov/comments/sr-cboeedgx-2018-035/ Policy .02. The minimum increment for RUT will
srcboeedgx2018035-4423273-175678.pdf. Because be as set forth in current Rule 21.5: Five cents if
Amendment No. 3 removes all references specific the series is trading below $3.00, and ten cents if
to the listing and trading of DJX options from the the series is trading at or above $3.00. See Notice,
original proposal and does not raise unique or novel supra note 3, at 42345.
regulatory issues, Amendment No. 3 is not subject 13 See proposed changes to Rule 29.11(c)(1) and
to notice and comment. (c)(5).
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![49962 Federal Register / Vol. 83, No. 192 / Wednesday, October 3, 2018 / Notices
which were previously approved by the approved collection of information SECURITIES AND EXCHANGE
Commission. The Commission notes discussed below. COMMISSION
that the Exchange represents that it has Rule 239 (17 CFR 230.239) provides [Release No. 34–84298; File No. SR–
an adequate surveillance program in exemptions under the Securities Act of CboeBZX–2018–058]
place for index options.43 Further, the 1933 (15 U.S.C. 77a et seq.), the
Exchange is a member of the ISG, which Self-Regulatory Organizations; Cboe
Securities Exchange Act of 1934 (15
provides for the sharing of information BZX Exchange, Inc.; Order Approving
U.S.C. 78a et seq.) and the Trust
and the coordination of regulatory a Proposed Rule Change, as Modified
efforts among exchanges trading Indenture Act of 1939 (U.S.C. 77aaa et
seq.) for security-based swaps issued by by Amendment Nos. 1 and 2, To Permit
securities and related products to the Listing and Trading of Options
address potential intermarket certain clearing agencies satisfying
That Overlie the Mini-SPX Index and
manipulations and trading abuses. certain conditions. The purpose of the the Russell 2000 Index
In approving the proposed rule information required by Rule 239 is to
change, the Commission has also relied make certain information about September 27, 2018.
upon the Exchange’s representation that security-based swaps that may be I. Introduction
it and OPRA have the necessary systems cleared by the registered or the exempt
clearing agencies available to eligible On August 2, 2018, Cboe BZX
capacity to support the new options Exchange, Inc. (‘‘Exchange’’) filed with
series that will result from this proposal, contract participants and other market
the Securities and Exchange
and that the Exchange will monitor the participants. We estimate that each
Commission (‘‘Commission’’ or ‘‘SEC’’),
trading volume associated with the registered or exempt clearing agency
pursuant to Section 19(b)(1) of the
additional options series listed as a issuing security-based swaps in its Securities Exchange Act of 1934
result of this proposed rule change and function as a central counterparty will (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
the effect (if any) of these additional spend approximately 2 hours each time proposed rule change to permit the
series on market fragmentation and on it provides or update the information in listing and trading of options that
the capacity of the Exchange’s its agreements relating to security-based overlie the Mini-SPX Index (‘‘XSP
automated systems.44 swaps or on its website. We estimate options’’), the Russell 2000 Index (‘‘RUT
IV. Conclusion that each registered or exempt clearing options’’), and the Dow Jones Industrial
agency will provide or update the Average (‘‘DJX options’’). The proposed
It is therefore ordered, pursuant to information approximately 20 times per rule change was published for comment
Section 19(b)(2) of the Act,45 that the year. In addition, we estimate that 75% in the Federal Register on August 21,
proposed rule change (SR–CboeEDGX– of the 2 hours per response (1.5 hours) 2018.3 The Commission received no
2018–035), as modified by Amendment is prepared internally by the clearing comments in response to the Notice. On
Nos. 1 and 3, be approved. September 18, 2018, the Exchange filed
agency for a total annual reporting
For the Commission, by the Division of burden of 180 hours (1.5 hours per Amendment No. 1 to the proposal.4 On
Trading and Markets, pursuant to delegated response × 20 times × 6 respondents). September 24, 2018, the Exchange filed
authority.46 Amendment No. 2 to the proposal.5 This
Eduardo A. Aleman, An agency may not conduct or
order approves the proposed rule
Assistant Secretary. sponsor, and a person is not required to change, as modified by Amendment
[FR Doc. 2018–21486 Filed 10–2–18; 8:45 am]
respond to, a collection of information Nos. 1 and 2 thereto.
unless it displays a currently valid
BILLING CODE 8011–01–P
control number. II. Description of the Amended
Proposal 6
The public may view the background
SECURITIES AND EXCHANGE documentation for this information The Exchange proposes to amend the
COMMISSION collection at the following website, Exchange’s index options rules to
www.reginfo.gov. Comments should be
Submission Collection; Comment directed to: (i) Desk Officer for the
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Request Securities and Exchange Commission, 3 See Securities Exchange Act Release No. 83852
Upon Written Request Copies Available Office of Information and Regulatory (August 15, 2018), 83 FR 42330 (‘‘Notice’’).
From: Securities and Exchange Affairs, Office of Management and 4 Amendment No. 1 provides that the lowest
Budget, Room 10102, New Executive strike price interval that may be listed for XSP
Commission, Office of FOIA Services, option series under the Short Term Option Series
100 F Street NE, Washington, DC Office Building, Washington, DC 20503, Program is $0.50. The Exchange notes that this
20549–2736 or by sending an email to: Shagufta_ provision was inadvertently omitted in the initial
Ahmed@omb.eop.gov; and (ii) Pamela filing. Amendment No. 1 is available at https://
Extension: www.sec.gov/comments/sr-cboebzx-2018-058/
Rule 239, SEC File No. 270–638, OMB Dyson, Director/Chief Information srcboebzx2018058-4387759-175584.pdf. Because
Control No. 3235–0687 Officer, Securities and Exchange Amendment No. 1 does not materially alter the
Commission, c/o Candace Kenner, 100 F substance of the proposed rule change or raise
Notice is hereby given that, pursuant unique or novel regulatory issues, Amendment No.
to the Paperwork Reduction Act of 1995 Street NE, Washington, DC 20549 or 1 is not subject to notice and comment.
(44 U.S.C. 3501 et seq.), the Securities send an email to: PRA_Mailbox@ 5 Amendment No. 2 removes all aspects of the
and Exchange Commission sec.gov. Comments must be submitted to proposal related to the listing and trading of DJX
OMB within 30 days of this notice. options. Amendment No. 2 is available at https://
(‘‘Commission’’) has submitted to the
daltland on DSKBBV9HB2PROD with NOTICES
www.sec.gov/comments/sr-cboebzx-2018-058/
Office of Management and Budget this Dated: September 27, 2018. srcboebzx2018058-4421264-175677.pdf. Because
request for extension of the previously Eduardo A. Aleman, Amendment No. 2 removes all references specific
to the listing and trading of DJX options from the
Assistant Secretary. original proposal and does not raise unique or novel
43 See Notice, supra note 3, at 42349–50.
[FR Doc. 2018–21510 Filed 10–2–18; 8:45 am] regulatory issues, Amendment No. 2 is not subject
44 See id. at 42350. to notice and comment.
45 15 U.S.C. 78s(b)(2). BILLING CODE 8011–01–P 6 For a more complete description of the proposed
46 17 CFR 200.30–3(a)(12). rule change, see Notice, supra note 3; Amendment
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Document Created: 2018-10-03 02:29:49
Document Modified: 2018-10-03 02:29:49
| Category | Regulatory Information | |
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| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 83 FR 49960 |
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