83 FR 58628 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete Exchange Rules That Reference Pillar Phase I Protocols
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 224 (November 20, 2018)
Federal Register Volume 83, Issue 224 (November 20, 2018)
| Page Range | 58628-58630 | |
| FR Document | 2018-25238 |
[Federal Register Volume 83, Number 224 (Tuesday, November 20, 2018)] [Notices] [Pages 58628-58630] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-25238] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84586; File No. SR-NYSEArca-2018-79] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete Exchange Rules That Reference Pillar Phase I Protocols November 14, 2018. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on November 5, 2018, NYSE Arca, Inc. (``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 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 delete Exchange rules that reference Pillar phase I protocols now that Pillar phase I protocols are no longer available for ETP Holders to communicate with the NYSE Arca Marketplace. The proposed rule change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. [[Page 58629]] A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this proposed rule change is to delete obsolete rules from the Exchange's rulebook. As a general matter, ETP Holders enter orders and order instructions by using communication protocols that map to the order types and modifiers described in Exchange rules. Prior to the implementation of Pillar, ETP Holders communicated with the NYSE Arca Marketplace using Pillar phase I protocols. When the Exchange introduced trading on its Pillar trading platform, the Exchange also introduced new technology to support how ETP Holders communicate with the NYSE Arca Marketplace, referred to in the Exchange's rules as Pillar phase II protocols. During the Pillar implementation, there was a period of time when both Pillar phase I protocols and Pillar phase II protocols were available to ETP Holders. Effective October 1, 2018, Pillar phase I protocols are no longer available to ETP Holders. All ETP Holders now use Pillar phase II protocols to communicate with the NYSE Arca Marketplace. As a result, there is no longer a need to provide a distinction between Pillar phase I protocols and Pillar phase II protocols in the Exchange's rules. Now that Pillar phase I protocols are no longer available, the Exchange proposes to delete references to Pillar phase I protocols from the Exchange's rulebook. Specifically, the Exchange proposes to delete the preamble to Rule 7.11-E (Limit Up-Limit Down Plan and Trading Pauses in Individual Securities Due to Extraordinary Market Volatility), which states: ``Rules 7.11-E(a)(5) and (a)(6) govern order processing when ETP Holders communicate with the NYSE Arca Marketplace using Pillar phase I protocols. Rule 7.11-E(a)(5P) governs order processing when ETP Holders communicate with the NYSE Arca Marketplace using Pillar phase II protocols. The Exchange will file a separate proposed rule change to delete Rules 7.11-E(a)(5) and (a)(6) when the Pillar phase I protocols are no longer available.'' The Exchange also proposes to delete Rules 7.11-E(a)(5) and (a)(6) from the rulebook since Pillar phase I protocols are no longer available on the Exchange. The preamble also states that Rule 7.11- E(a)(5P) would govern order processing when ETP Holders communicate with the NYSE Arca Marketplace using Pillar phase II protocols. Now that ETP Holders communicate with the NYSE Arca Marketplace using Pillar phase II protocols, for purposes of Rule 7.11-E, order processing would be governed by Rule 7.11-E(a)(5P). With the proposed deletion of current text in Rules 7.11-E(a)(5) and (a)(6), the Exchange proposes to renumber current Rule 7.11-E(a)(5P) as 7.11-E(a)(5) and renumber current Rule 7.11-E(a)(7)-(9) as Rule 7.11-E(a)(6)-(8) with no changes to the rule text. Additionally, the Exchange proposes to amend Rule 7.31-E (Orders and Modifiers). Specifically, Rule 7.31-E(c)(5) currently provides that an Imbalance Offset Order (``IO Order'') is a Limit Order to buy (sell) that is to be traded only in a Trading Halt Auction. The rule further provides that IO Orders are available only to ETP Holders using Pillar phase II protocols. Now that all ETP Holders use Pillar phase II protocols, the Exchange proposes to delete the second sentence of Rule 7.31-E(c)(5), which the Exchange believes is superfluous and no longer necessary. Further, the Exchange proposes to amend Rule 7.31-E(i)(2) which provides how the Self Trade Prevention (``STP'') functionality operates on the Exchange. Current Rule 7.31-E(i)(2) provides that any incoming order designated with an STP modifier is prevented from executing against a resting opposite side order also designated with an STP modifier and from the same ETP ID. The STP modifier on the incoming order controls the interaction between two orders marked with STP modifiers. Orders marked with an STP modifier are not prevented from interacting during any auction. As part of the Pillar implementation, the Exchange amended Rule 7.31-E(i)(2)(E) to provide that for purposes of STP, references to ETP ID mean an ETP ID when using Pillar phase I protocols to communicate with the NYSE Arca Marketplace or an MPID when using Pillar phase II protocols to communicate with the NYSE Marketplace. Now that all ETP Holders use Pillar phase II protocols, the Exchange proposes to delete Rule 7.31-E(i)(2)(E) as the distinction provided in the rule is no longer necessary. The Exchange also proposes to replace all references to ETP ID in Rule 7.31-E(i)(2)(A)-(D) with MPID to reflect that with Pillar phase II protocols in place now, the Exchange would use MPID instead of ETP ID to identify ETP Holders for purposes of STP. Finally, the Exchange proposes to amend Rule 7.34-E (Trading Sessions). Specifically, Rule 7.34-E(b)(1) provides that any order entered into the NYSE Arca Marketplace must include a designation for which trading session(s) the order would remain in effect. The rule further provides that for ETP Holders that communicate with the NYSE Arca Marketplace using Pillar phase II protocols, orders entered without a trading session designation would be rejected. The Exchange proposes to delete reference to ETP Holders communicating with the NYSE Arca Marketplace using Pillar phase II protocols from the current rule because such reference is not necessary since all ETP Holders now communicate with the NYSE Arca Marketplace using Pillar phase II protocols. Additionally, since ETP Holders no longer communicate with the NYSE Arca Marketplace using Pillar phase I protocols, the Exchange proposes to delete Rules 7.34-E(b)(2) and (b)(3) in their entirety because it is no longer necessary for Exchange rules to distinguish between Pillar phase I protocols and Pillar phase II protocols for purposes of designating the trading session(s) for which orders would remain in effect on the Exchange. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\4\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\5\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the Exchange believes that amending its rules to remove references to Pillar phase I protocols would promote the protection of investors and the public interest because it would promote clarity and transparency in Exchange rules governing what rules govern trading on the Exchange because Pillar phase I protocols are no longer available for ETP Holders to communicate with the NYSE Arca Marketplace. The Exchange further believes that deleting references to Pillar phase I protocols from the Exchange's rules would remove impediments to and perfect the mechanism of a national [[Page 58630]] market system because these proposed changes would add greater clarity to the Exchange's rules and promote market transparency and efficiency because Pillar phase I protocols, which for a period of time were available to ETP Holders to communicate with the NYSE Arca Marketplace, are no longer available. The Exchange believes that the proposed rule change to replace references to ETP ID with MPID for STP purposes would remove impediments to and perfect the mechanism of a free and open market and a national market system because the proposed change would eliminate confusion with respect to how the Exchange identifies the identity of an ETP Holder for purposes of the Exchange's STP functionality. The Exchange further believes that this non-substantive amendment to the current rule is intended to provide clarity and eliminate confusion among market participants, which is in the interests of all investors and the general public. 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 designed to address competitive issues but rather is designed to ensure a fair and orderly market by removing trading rules that are no longer operative. As such, the proposed rule changes are intended to promote greater efficiency and transparency concerning trading on the Exchange. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \6\ and Rule 19b-4(f)(6) \7\ thereunder because the proposal does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) by its terms, become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(A). \7\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) normally may not become operative prior to 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) \8\ permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay period. The Commission believes that waiver of the 30-day operative delay period is consistent with the protection of investors and the public interest. Specifically, the Commission believes that the proposal would delete obsolete rules from the Exchange's rulebook and thus should provide clarity and eliminate confusion. For these reasons, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest, and designates the proposed rule change to be operative upon filing with the Commission.\9\ --------------------------------------------------------------------------- \8\ 17 CFR 240.19b-4(f)(6)(iii). \9\ For purposes only of waiving the operative delay for this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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.\10\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(C). --------------------------------------------------------------------------- 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 CommentsUse the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NYSEArca-2018-79 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-NYSEArca-2018-79. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's internet website (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for website viewing and printing in the Commission's Public Reference Room, 100 F Street NE, Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEArca-2018-79 and should be submitted on or before December 11, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-25238 Filed 11-19-18; 8:45 am] BILLING CODE 8011-01-P
![58628 Federal Register / Vol. 83, No. 224 / Tuesday, November 20, 2018 / Notices
become effective pursuant to Section Electronic Comments SECURITIES AND EXCHANGE
19(b)(3)(A) of the Act 9 and Rule 19b– COMMISSION
4(f)(6) thereunder.10 • Use the Commission’s internet
comment form (http://www.sec.gov/
A proposed rule change filed under rules/sro.shtml); or [Release No. 34–84586; File No. SR–
Rule 19b–4(f)(6) 11 normally does not NYSEArca–2018–79]
become operative prior to 30 days after • Send an email to rule-comments@
the date of the filing. However, pursuant sec.gov. Please include File Number SR– Self-Regulatory Organizations; NYSE
to Rule 19b–4(f)(6)(iii),12 the ISE–2018–93 on the subject line. Arca, Inc.; Notice of Filing and
Commission may designate a shorter Immediate Effectiveness of Proposed
Paper Comments
time if such action is consistent with the Rule Change To Delete Exchange
protection of investors and the public • Send paper comments in triplicate Rules That Reference Pillar Phase I
interest. The Exchange has asked the to Secretary, Securities and Exchange Protocols
Commission to waive the 30-day Commission, 100 F Street NE,
November 14, 2018.
operative delay so that the proposal may Washington, DC 20549–1090.
become operative on November 16, Pursuant to Section 19(b)(1) 1 of the
All submissions should refer to File Securities Exchange Act of 1934
2018, to coincide with the effective date Number SR–ISE–2018–93. This file
of Phlx’s proposed rule change on (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
number should be included on the notice is hereby given that, on
which the proposal is partially based.13
subject line if email is used. To help the November 5, 2018, NYSE Arca, Inc.
The Exchange’s proposal would clarify
Commission process and review your (‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
ambiguous rule text and would conform
comments more efficiently, please use with the Securities and Exchange
the Exchange’s rules relating to
only one method. The Commission will Commission (‘‘Commission’’) the
permitted number of SPY ETF LEAPS
post all comments on the Commission’s proposed rule change as described in
expirations to those of Phlx.
internet website (http://www.sec.gov/ Items I and II below, which Items have
Accordingly, the Commission believes
rules/sro.shtml). Copies of the been prepared by the self-regulatory
that the proposal raises no new or novel
regulatory issues and waiver of the 30- submission, all subsequent organization. The Commission is
day operative delay is consistent with amendments, all written statements publishing this notice to solicit
the protection of investors and the with respect to the proposed rule comments on the proposed rule change
public interest. The Commission change that are filed with the from interested persons.
therefore waives the 30-day operative Commission, and all written
delay and designates the proposal communications relating to the I. Self-Regulatory Organization’s
operative on November 16, 2018.14 proposed rule change between the Statement of the Terms of Substance of
Commission and any person, other than the Proposed Rule Change
At any time within 60 days of the those that may be withheld from the
filing of the proposed rule change, the The Exchange proposes to delete
public in accordance with the
Commission summarily may Exchange rules that reference Pillar
provisions of 5 U.S.C. 552, will be
temporarily suspend such rule change if phase I protocols now that Pillar phase
available for website viewing and
it appears to the Commission that such I protocols are no longer available for
printing in the Commission’s Public
action is necessary or appropriate in the ETP Holders to communicate with the
Reference Room, 100 F Street NE,
public interest, for the protection of NYSE Arca Marketplace. The proposed
Washington, DC 20549, on official
investors, or otherwise in furtherance of rule change is available on the
the purposes of the Act. business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the Exchange’s website at www.nyse.com, at
IV. Solicitation of Comments filing also will be available for the principal office of the Exchange, and
inspection and copying at the principal at the Commission’s Public Reference
Interested persons are invited to office of the Exchange. All comments Room.
submit written data, views, and received will be posted without change. II. Self-Regulatory Organization’s
arguments concerning the foregoing,
Persons submitting comments are Statement of the Purpose of, and
including whether the proposed rule
cautioned that we do not redact or edit Statutory Basis for, the Proposed Rule
change is consistent with the Act.
personal identifying information from Change
Comments may be submitted by any of
comment submissions. You should
the following methods: In its filing with the Commission, the
submit only information that you wish
to make available publicly. All self-regulatory organization included
9 15 U.S.C. 78s(b)(3)(A).
10 17 submissions should refer to File statements concerning the purpose of,
CFR 240.19b–4. In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to Number SR–ISE–2018–93 and should be and basis for, the proposed rule change
give the Commission written notice of its intent to submitted on or before December 11, and discussed any comments it received
file the proposed rule change, along with a brief
2018. on the proposed rule change. The text
description and text of the proposed rule change,
at least five business days prior to the date of filing
of those statements may be examined at
For the Commission, by the Division of
of the proposed rule change, or such shorter time the places specified in Item IV below.
Trading and Markets, pursuant to delegated
as designated by the Commission. The Exchange The Exchange has prepared summaries,
has satisfied this requirement. authority.15
set forth in sections A, B, and C below,
11 17 CFR 240.19b–4(f)(6). Eduardo A. Aleman,
12 17 CFR 240.19b–4(f)(6)(iii).
of the most significant parts of such
Assistant Secretary. statements.
13 See supra note 5.
14 For purposes only of waiving the 30-day
[FR Doc. 2018–25239 Filed 11–19–18; 8:45 am]
operative delay, the Commission has also BILLING CODE 8011–01–P
1 15 U.S.C. 78s(b)(1).
considered the proposed rule’s impact on
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 15 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4.
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![58630 Federal Register / Vol. 83, No. 224 / Tuesday, November 20, 2018 / Notices
market system because these proposed such shorter time as the Commission All submissions should refer to File
changes would add greater clarity to the may designate if consistent with the Number SR–NYSEArca–2018–79. This
Exchange’s rules and promote market protection of investors and the public file number should be included on the
transparency and efficiency because interest. subject line if email is used. To help the
Pillar phase I protocols, which for a A proposed rule change filed under Commission process and review your
period of time were available to ETP Rule 19b–4(f)(6) normally may not comments more efficiently, please use
Holders to communicate with the NYSE become operative prior to 30 days after only one method. The Commission will
Arca Marketplace, are no longer the date of filing. However, Rule 19b– post all comments on the Commission’s
available. 4(f)(6)(iii) 8 permits the Commission to internet website (http://www.sec.gov/
The Exchange believes that the designate a shorter time if such action rules/sro.shtml). Copies of the
proposed rule change to replace is consistent with the protection of submission, all subsequent
references to ETP ID with MPID for STP investors and the public interest. The amendments, all written statements
purposes would remove impediments to Exchange has requested that the with respect to the proposed rule
and perfect the mechanism of a free and Commission waive the 30-day operative change that are filed with the
open market and a national market delay period. The Commission believes Commission, and all written
system because the proposed change that waiver of the 30-day operative communications relating to the
would eliminate confusion with respect delay period is consistent with the proposed rule change between the
to how the Exchange identifies the protection of investors and the public Commission and any person, other than
identity of an ETP Holder for purposes interest. Specifically, the Commission those that may be withheld from the
of the Exchange’s STP functionality. believes that the proposal would delete public in accordance with the
The Exchange further believes that this obsolete rules from the Exchange’s provisions of 5 U.S.C. 552, will be
non-substantive amendment to the rulebook and thus should provide available for website viewing and
current rule is intended to provide clarity and eliminate confusion. For printing in the Commission’s Public
clarity and eliminate confusion among these reasons, the Commission believes Reference Room, 100 F Street NE,
market participants, which is in the that waiving the 30-day operative delay Washington, DC 20549, on official
interests of all investors and the general is consistent with the protection of business days between the hours of
public. investors and the public interest, and 10:00 a.m. and 3:00 p.m. Copies of the
designates the proposed rule change to filing also will be available for
B. Self-Regulatory Organization’s
be operative upon filing with the inspection and copying at the principal
Statement on Burden on Competition
Commission.9 office of the Exchange. All comments
The Exchange does not believe that At any time within 60 days of the received will be posted without change.
the proposed rule change will impose filing of the proposed rule change, the Persons submitting comments are
any burden on competition that is not Commission summarily may cautioned that we do not redact or edit
necessary or appropriate in furtherance temporarily suspend such rule change if personal identifying information from
of the purposes of the Act. The it appears to the Commission that such comment submissions. You should
proposed rule change is not designed to action is necessary or appropriate in the submit only information that you wish
address competitive issues but rather is public interest, for the protection of to make available publicly. All
designed to ensure a fair and orderly investors, or otherwise in furtherance of submissions should refer to File
market by removing trading rules that the purposes of the Act.10 Number SR–NYSEArca–2018–79 and
are no longer operative. As such, the should be submitted on or before
proposed rule changes are intended to IV. Solicitation of Comments
December 11, 2018.
promote greater efficiency and Interested persons are invited to
submit written data, views, and For the Commission, by the Division of
transparency concerning trading on the
Trading and Markets, pursuant to delegated
Exchange. arguments concerning the foregoing, authority.11
including whether the proposed rule
C. Self-Regulatory Organization’s change is consistent with the Act.
Eduardo A. Aleman,
Statement on Comments on the Comments may be submitted by any of Assistant Secretary.
Proposed Rule Change Received From the following methods: [FR Doc. 2018–25238 Filed 11–19–18; 8:45 am]
Members, Participants, or Others BILLING CODE 8011–01–P
No written comments were solicited Electronic Comments
or received with respect to the proposed • Use the Commission’s internet
rule change. comment form (http://www.sec.gov/ SECURITIES AND EXCHANGE
rules/sro.shtml); or COMMISSION
III. Date of Effectiveness of the • Send an email to rule-comments@
Proposed Rule Change and Timing for [Release No. 34–84591; File No. SR–
sec.gov. Please include File Number SR– PEARL–2018–22]
Commission Action NYSEArca–2018–79 on the subject line.
The foregoing rule change has become Self-Regulatory Organizations; MIAX
effective pursuant to Section 19(b)(3)(A) Paper Comments
PEARL, LLC; Notice of Filing and
of the Act 6 and Rule 19b–4(f)(6) 7 • Send paper comments in triplicate Immediate Effectiveness of a Proposed
thereunder because the proposal does to Secretary, Securities and Exchange Rule Change To Amend the MIAX
not: (i) Significantly affect the Commission, 100 F Street NE, PEARL Fee Schedule
protection of investors or the public Washington, DC 20549–1090.
interest; (ii) impose any significant November 14, 2018.
burden on competition; and (iii) by its 8 17 CFR 240.19b–4(f)(6)(iii). Pursuant to the provisions of Section
9 For purposes only of waiving the operative
terms, become operative for 30 days 19(b)(1) of the Securities Exchange Act
delay for this proposal, the Commission has
from the date on which it was filed, or considered the proposed rule’s impact on
of 1934 (‘‘Act’’),1 and Rule 19b–4
efficiency, competition, and capital formation. See
6 15 U.S.C. 78s(b)(3)(A). 15 U.S.C. 78c(f). 11 17 CFR 200.30–3(a)(12).
7 17 CFR 240.19b–4(f)(6). 10 15 U.S.C. 78s(b)(3)(C). 1 15 U.S.C. 78s(b)(1).
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Document Created: 2018-11-20 07:59:09
Document Modified: 2018-11-20 07:59:09
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 83 FR 58628 |
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