83 FR 61705 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Regarding Connectivity Fees for Members and Non-Members
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 231 (November 30, 2018)
Federal Register Volume 83, Issue 231 (November 30, 2018)
| Page Range | 61705-61705 | |
| FR Document | 2018-26001 |
[Federal Register Volume 83, Number 231 (Friday, November 30, 2018)] [Notices] [Page 61705] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-26001] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-84650; File No. SR-MIAX-2018-25] Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Regarding Connectivity Fees for Members and Non- Members November 26, 2018. On September 18, 2018, Miami International Securities Exchange LLC (``MIAX'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission''), 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 amend the MIAX Fee Schedule to increase certain connectivity fees. The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.\3\ On October 10, 2018 the proposed rule change was published for comment in the Federal Register and, pursuant to Section 19(b)(3)(C) of the Act, the Commission: (1) Temporarily suspended the proposed rule change; and (2) instituted proceedings to determine whether to approve or disapprove the proposal.\4\ The Commission received one comment letter on the proposal.\5\ On November 23, 2018, the Exchange withdrew the proposed rule change (SR-MIAX-2018-25). --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 15 U.S.C. 78s(b)(3)(A). \4\ See Securities Exchange Act Release No. 84357 (October 3, 2018), 83 FR 50976. \5\ See Letter from Theodore R. Lazo, Managing Director and Associate General Counsel, and Ellen Greene, Managing Director, The Securities Industry and Financial Markets Association, to Brent J. Fields, Secretary, Commission, dated October 15, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\6\ --------------------------------------------------------------------------- \6\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-26001 Filed 11-29-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 231 / Friday, November 30, 2018 / Notices 61705
For the Commission, by the Division of For the Commission, by the Division of A. Self-Regulatory Organization’s
Trading and Markets, pursuant to delegated Trading and Markets, pursuant to delegated Statement of the Purpose of, and the
authority.10 authority.6 Statutory Basis for, the Proposed Rule
Eduardo A. Aleman, Eduardo A. Aleman, Change
Assistant Secretary. Assistant Secretary.
[FR Doc. 2018–26001 Filed 11–29–18; 8:45 am]
1. Purpose
[FR Doc. 2018–25997 Filed 11–29–18; 8:45 am]
BILLING CODE 8011–01–P
BILLING CODE 8011–01–P The purpose of this filing is to amend
Rule 903, Series of Options Open for
Trading, to permit the listing and
SECURITIES AND EXCHANGE SECURITIES AND EXCHANGE trading of up to ten expiration months
COMMISSION for long term options on the SPDR® S&P
COMMISSION
500® Exchange-Traded Fund (the ‘‘SPY
[Release No. 34–84649; File No. SR– ETF’’).
[Release No. 34–84650; File No. SR–MIAX–
NYSEAMER–2018–51]
2018–25] Commentary .03(a) of Rule 903
Self-Regulatory Organizations; NYSE (‘‘Commentary .03’’) provides that the
Self-Regulatory Organizations; Miami American LLC; Notice of Filing and Exchange may list, with respect to any
International Securities Exchange LLC; Immediate Effectiveness of Proposed class of stock or Exchange-Traded Fund
Notice of Withdrawal of a Proposed Rule Change To Amend Rule 903, Share options series, options having
Rule Change To Amend the Fee Series of Options Open for Trading from twelve up to thirty-nine months
Schedule Regarding Connectivity Fees from the time they are listed until
for Members and Non-Members November 26, 2018. expiration (‘‘LEAPS’’). Under the
Pursuant to Section 19(b)(1) 1 of the current Rule, the Exchange may list up
November 26, 2018.
Securities Exchange Act of 1934 2 and to six LEAPS expiration months.4 The
On September 18, 2018, Miami Rule 19b–4 thereunder,3 notice is Exchange proposes to amend
International Securities Exchange LLC hereby given that on November 19, Commentary .03 to permit up to ten
(‘‘MIAX’’ or the ‘‘Exchange’’) filed with 2018, NYSE American LLC LEAPS expiration months for options on
the Securities and Exchange (‘‘Exchange’’) filed with the Securities the SPY ETF.5 This proposal, which is
Commission (‘‘Commission’’), pursuant and Exchange Commission substantially the same as a recent rule
to Section 19(b)(1) of the Securities (‘‘Commission’’) the proposed rule amendment submitted by Nasdaq PHLX
Exchange Act of 1934 (‘‘Act’’),1 and change as described in Items I and II LLC (‘‘PHLX’’) and driven by customer
Rule 19b–4 thereunder,2 a proposed rule below, which Items have been prepared demand,6 would add liquidity to the
change to amend the MIAX Fee by the self-regulatory organization. The SPY ETF options market by allowing
Schedule to increase certain Commission is publishing this notice to market participants to hedge risks
connectivity fees. The proposed rule solicit comments on the proposed rule relating to SPY ETF positions over a
change was immediately effective upon change from interested persons. potentially longer time period with a
filing with the Commission pursuant to I. Self-Regulatory Organization’s known and limited cost.
Section 19(b)(3)(A) of the Act.3 On Statement of the Terms of Substance of The SPY ETF options market today is
October 10, 2018 the proposed rule the Proposed Rule Change characterized by its tremendous daily
change was published for comment in and annual liquidity. As a consequence,
the Federal Register and, pursuant to The Exchange proposes to amend the Exchange believes that the listing of
Section 19(b)(3)(C) of the Act, the Rule 903. The proposed rule change is
additional SPY ETF LEAPS expiration
Commission: (1) Temporarily available on the Exchange’s website at
months would be well received by
suspended the proposed rule change; www.nyse.com, at the principal office of
investors. This proposal to expand the
the Exchange, and at the Commission’s
and (2) instituted proceedings to number of permitted SPY ETF LEAPS
Public Reference Room.
determine whether to approve or would not apply to LEAPS on any other
disapprove the proposal.4 The II. Self-Regulatory Organization’s
Commission received one comment Statement of the Purpose of, and 4 Strike price interval, bid/ask differential and
letter on the proposal.5 On November Statutory Basis for, the Proposed Rule continuity rules shall not apply to such options
Change series until the time to expiration is less than nine
23, 2018, the Exchange withdrew the months. See Commentary .03(a) of Rule 903.
proposed rule change (SR–MIAX–2018– 5 See proposed Commentary .03(a) of Rule 903
In its filing with the Commission, the
25). (providing in relevant part, that ‘‘[t]here may be up
self-regulatory organization included to ten expiration months for options on the [SPY
statements concerning the purpose of, ETF] and up to six extended far term expiration
and basis for, the proposed rule change months for options on any other index, Exchange-
and discussed any comments it received Trade Fund Share, or equity option class’’). The
Exchange also proposes a technical change to
10 17
on the proposed rule change. The text remove the errant period that appears after
CFR 200.30–3(a)(12).
1 15
of those statements may be examined at ‘‘(LEAPS)’’ in the title of Commentary .03, which
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
the places specified in Item IV below. would add clarity and consistency to Exchange
The Exchange has prepared summaries, rules. See proposed Commentary .03 of Rule 903.
3 15 U.S.C. 78s(b)(3)(A). 6 See also Securities Exchange Act Release No.
set forth in sections A, B, and C below,
amozie on DSK3GDR082PROD with NOTICES1
4 See Securities Exchange Act Release No. 84357 84449 (October 18, 2018), 83 FR 53699 (October 24,
(October 3, 2018), 83 FR 50976.
of the most significant parts of such 2018) (SR–Phlx–2018–64) (‘‘PHLX Rule Change’’).
5 See Letter from Theodore R. Lazo, Managing statements. The Exchange notes that the PHLX Rule Change
does not apply to LEAPS on index options, as PHLX
Director and Associate General Counsel, and Ellen already provided for up to ten expirations in LEAPS
6 17 CFR 200.30–3(a)(12).
Greene, Managing Director, The Securities Industry on index options in PHLX Rule 1101A(b)(iii).
and Financial Markets Association, to Brent J. 1 15 U.S.C.78s(b)(1). Because Commentary .03 includes index options,
Fields, Secretary, Commission, dated October 15, 2 15 U.S.C. 78a.
this proposal is consistent with both the PHLX Rule
2018. 3 17 CFR 240.19b–4. Change and PHLX Rule 1101A(b)(iii).
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Document Created: 2018-11-30 04:36:08
Document Modified: 2018-11-30 04:36:08
| 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 61705 |
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