83 FR 7519 - Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Port Fees
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 83, Issue 35 (February 21, 2018)
Federal Register Volume 83, Issue 35 (February 21, 2018)
| Page Range | 7519-7521 | |
| FR Document | 2018-03451 |
[Federal Register Volume 83, Number 35 (Wednesday, February 21, 2018)] [Notices] [Pages 7519-7521] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-03451] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82713; File No. SR-GEMX-2018-06] Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Port Fees February 14, 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 February 9, 2018, Nasdaq GEMX, LLC (``GEMX'' or ``Exchange'') 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 Exchange. 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\ 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 amend Port Fees at Section IV, E to indicate those fees are not prorated. The text of the proposed rule change is available on the Exchange's website at http://nasdaqgemx.cchwallstreet.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 Exchange 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 Exchange 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 the proposed rule change is to include language within the Schedule of Fees at Section IV, E, entitled ``Port Fees'' to clarify that the port fees in this section are not subject to proration. Today, the Exchange does not prorate the pricing for these ports. Background The Exchange previously filed \3\ to: (1) Establish ports and gateways that members use to connect to the Exchange with the migration of the Exchange's trading system to the Nasdaq INET architecture, and (2) amend the Schedule of Fees to adopt fees for those ports and gateways. The Exchange established fees for the following connectivity options that are available in connection with the Exchange's trading system: Specialized Quote Feed (``SQF''),\4\ SQF Purge,\5\ Ouch to Trade Options (``OTTO''),\6\ Clearing Trade Interface (``CTI''),\7\ Financial Information eXchange (``FIX''),\8\ FIX Drop,\9\ Disaster Recovery,\10\ and Market Data Port.\11\ The Exchange proposes to [[Page 7520]] add a clarifying sentence to make clear that port fees are assessed in full month increments and are not prorated, to avoid any confusion. --------------------------------------------------------------------------- \3\ See Securities and Exchange Act Release No. 80649 (May 10, 2017), 82 FR 22595 (May 16, 2017) (SR-GEMX-2017-07). \4\ SQF is an interface that allows market makers to connect and send quotes, sweeps and auction responses into the Exchange. Data includes the following: (1) Options Auction Notifications (e.g., opening imbalance, Flash, PIM, Solicitation and Facilitation or other information); (2) Options Symbol Directory Messages; (3) System Event Messages (e.g., start of messages, start of system hours, start of quoting, start of opening); (4) Option Trading Action Messages (e.g., halts, resumes); (5) Execution Messages (6) Quote Messages (quote/sweep messages, risk protection triggers or purge notifications). \5\ SQF Purge is a specific port for the SQF interface that only receives and notifies of purge requests from the market maker. Dedicated SQF Purge Ports enable market makers to seamlessly manage their ability to remove their quotes in a swift manner. \6\ OTTO is an interface that allows market participants to connect and send orders, auction orders and auction responses into the Exchange. Data includes the following: (1) Options Auction Notifications (e.g., Flash, PIM, Solicitation and Facilitation or other information); (2) Options Symbol Directory Messages; (3) System Event Messages (e.g., start of messages, start of system hours, start of quoting, start of opening); (5) Option Trading Action Messages (e.g., halts, resumes); (6) Execution Messages; (7) Order Messages (order messages, risk protection triggers or purge notifications). \7\ CTI is a real-time clearing trade update message that is sent to a member after an execution has occurred and contains trade details. The message containing the trade details is also simultaneously sent to The Options Clearing Corporation (``OCC''). The information includes, among other things, the following: (i) The Clearing Member Trade Agreement or ``CMTA'' or ``OCC'' number; (ii) Exchange badge or house number; (iii) the Exchange internal firm identifier; and (iv) an indicator which will distinguish electronic and non-electronically delivered orders; (v) liquidity indicators and transaction type for billing purposes; (vi) capacity. \8\ FIX is an interface that allows market participants to connect and send orders and auction orders into the Exchange. Data includes the following: (1) Options Symbol Directory Messages; (2) System Event Messages (e.g., start of messages, start of system hours, start of quoting, start of opening); (3) Option Trading Action Messages (e.g., halts, resumes); (4) Execution Messages; (5) Order Messages (order messages, risk protection triggers or purge notifications). \9\ FIX Drop is a real-time order and execution update message that is sent to a member after an order been received/modified or an execution has occurred and contains trade details. The information includes, among other things, the following: (1) Executions; (2) cancellations; (3) modifications to an existing order (4) busts or post-trade corrections. \10\ Disaster Recovery ports provide connectivity to the exchange's disaster recovery data center in Chicago to be utilized in the event the exchange has to fail over during the trading day. DR Ports are available for SQF, SQF Purge, Dedicated SQF, CTI, OTTO, FIX and FIX Drop. \11\ Market Data ports provide connectivity to the Exchange's proprietary market data feeds, including the Nasdaq GEMX Real-time Depth of Market Raw Data Feed (``Depth of Market Feed''), the Nasdaq GEMX Order Feed (``Order Feed''), the Nasdaq GEMX Top Quote Feed (``Top Quote Feed''), the Nasdaq GEMX Trades Feed (``Trades Feed''), and the Nasdaq GEMX Spread Feed (``Spread Feed''). Each of the feeds described above, with the exception of the Trades Feed, have previously been established as market data offerings of the Exchange, and market participants are charged for subscriptions to these products. The Trades Feed is a free market data product provided to subscribers of at least one of the fee liable market data products described above. In connection with the adoption of Market Data ports described above, the Exchange further proposes to establish the Trades Feed. Market Data ports are available via multicast, TCP, or as an intra-day snapshot, except that the intra- day snapshot option is available solely for the Depth of Market Feed, Top Quote Feed, and Spread Feed. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act,\12\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\13\ in particular, in that it is 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, by clearly specifying in Section IV, E that the Exchange's pricing regarding ports is not prorated. The Exchange believes that its decision to not prorate these ports is consistent with the Act because prorating billing results in complexity and increased costs associated with the billing process. The Exchange notes that this proposal does not amend the Exchange's current billing practice. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- 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 not necessary or appropriate in furtherance of the purposes of the Act. The Exchange will uniformly assess the fees in Section IV, E to all GEMX Members in a uniform manner. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \14\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\15\ --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A)(iii). \15\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally does not become operative prior to 30 days after the date of the filing. However, Rule 19b-4(f)(6)(iii) \17\ 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 asked the Commission to waive the 30-day operative delay so that the Exchange may clarify that the INET Port Fees in Chapter V, D will not be prorated to avoid any misunderstanding. The Exchange notes that adding language to clarify that the Exchange will not prorate the INET Port Fees in Section V, D does not significantly affect the protection of investors or the public interest because there is no substantive change to the manner in which the Exchange bills these services. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Accordingly, the Commission hereby waives the operative delay and designates the proposed rule change as operative upon filing.\18\ --------------------------------------------------------------------------- \16\ 17 CFR 240.19b-4(f)(6). \17\ 17 CFR 240.19b-4(f)(6)(iii). \18\ For purposes only of waiving the 30-day operative delay, the Commission has also 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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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 CommentsUse 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-GEMX-2018-06 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-GEMX-2018-06. 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-GEMX-2018-06 and should be submitted on or before March 14, 2018. [[Page 7521]] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018-03451 Filed 2-20-18; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 83, No. 35 / Wednesday, February 21, 2018 / Notices 7519
proposed rule change between the I. Self-Regulatory Organization’s (‘‘SQF’’),4 SQF Purge,5 Ouch to Trade
Commission and any person, other than Statement of the Terms of Substance of Options (‘‘OTTO’’),6 Clearing Trade
those that may be withheld from the the Proposed Rule Change Interface (‘‘CTI’’),7 Financial
public in accordance with the Information eXchange (‘‘FIX’’),8 FIX
provisions of 5 U.S.C. 552, will be The Exchange proposes to amend Port Drop,9 Disaster Recovery,10 and Market
available for website viewing and Fees at Section IV, E to indicate those Data Port.11 The Exchange proposes to
printing in the Commission’s Public fees are not prorated.
4 SQF is an interface that allows market makers
Reference Room, 100 F Street NE, The text of the proposed rule change
to connect and send quotes, sweeps and auction
Washington, DC 20549, on official is available on the Exchange’s website at responses into the Exchange. Data includes the
business days between the hours of http://nasdaqgemx.cchwallstreet.com/, following: (1) Options Auction Notifications (e.g.,
at the principal office of the Exchange, opening imbalance, Flash, PIM, Solicitation and
10:00 a.m. and 3:00 p.m. Copies of the Facilitation or other information); (2) Options
filing also will be available for and at the Commission’s Public Symbol Directory Messages; (3) System Event
inspection and copying at the principal Reference Room. Messages (e.g., start of messages, start of system
office of the Exchange. All comments hours, start of quoting, start of opening); (4) Option
II. Self-Regulatory Organization’s Trading Action Messages (e.g., halts, resumes); (5)
received will be posted without change. Execution Messages (6) Quote Messages (quote/
Statement of the Purpose of, and
Persons submitting comments are sweep messages, risk protection triggers or purge
Statutory Basis for, the Proposed Rule notifications).
cautioned that we do not redact or edit
Change 5 SQF Purge is a specific port for the SQF
personal identifying information from interface that only receives and notifies of purge
comment submissions. You should In its filing with the Commission, the requests from the market maker. Dedicated SQF
submit only information that you wish Exchange included statements Purge Ports enable market makers to seamlessly
manage their ability to remove their quotes in a
to make available publicly. All concerning the purpose of and basis for swift manner.
submissions should refer to File the proposed rule change and discussed 6 OTTO is an interface that allows market
Number SR–NYSEARCA–2018–12 and any comments it received on the participants to connect and send orders, auction
should be submitted on or before March proposed rule change. The text of these orders and auction responses into the Exchange.
Data includes the following: (1) Options Auction
14, 2018. statements may be examined at the Notifications (e.g., Flash, PIM, Solicitation and
For the Commission, by the Division of places specified in Item IV below. The Facilitation or other information); (2) Options
Exchange has prepared summaries, set Symbol Directory Messages; (3) System Event
Trading and Markets, pursuant to delegated Messages (e.g., start of messages, start of system
authority.13 forth in sections A, B, and C below, of hours, start of quoting, start of opening); (5) Option
Eduardo A. Aleman, the most significant aspects of such Trading Action Messages (e.g., halts, resumes); (6)
statements. Execution Messages; (7) Order Messages (order
Assistant Secretary. messages, risk protection triggers or purge
[FR Doc. 2018–03454 Filed 2–20–18; 8:45 am] A. Self-Regulatory Organization’s notifications).
7 CTI is a real-time clearing trade update message
BILLING CODE 8011–01–P Statement of the Purpose of, and that is sent to a member after an execution has
Statutory Basis for, the Proposed Rule occurred and contains trade details. The message
Change containing the trade details is also simultaneously
SECURITIES AND EXCHANGE sent to The Options Clearing Corporation (‘‘OCC’’).
COMMISSION 1. Purpose The information includes, among other things, the
following: (i) The Clearing Member Trade
The purpose of the proposed rule Agreement or ‘‘CMTA’’ or ‘‘OCC’’ number; (ii)
[Release No. 34–82713; File No. SR–GEMX– Exchange badge or house number; (iii) the Exchange
change is to include language within the internal firm identifier; and (iv) an indicator which
2018–06] Schedule of Fees at Section IV, E, will distinguish electronic and non-electronically
entitled ‘‘Port Fees’’ to clarify that the delivered orders; (v) liquidity indicators and
Self-Regulatory Organizations; Nasdaq port fees in this section are not subject transaction type for billing purposes; (vi) capacity.
8 FIX is an interface that allows market
GEMX, LLC; Notice of Filing and to proration. Today, the Exchange does participants to connect and send orders and auction
Immediate Effectiveness of Proposed not prorate the pricing for these ports. orders into the Exchange. Data includes the
Rule Change To Amend Port Fees following: (1) Options Symbol Directory Messages;
Background (2) System Event Messages (e.g., start of messages,
February 14, 2018. start of system hours, start of quoting, start of
Pursuant to Section 19(b)(1) of the The Exchange previously filed 3 to: (1) opening); (3) Option Trading Action Messages (e.g.,
Establish ports and gateways that halts, resumes); (4) Execution Messages; (5) Order
Securities Exchange Act of 1934 Messages (order messages, risk protection triggers or
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 members use to connect to the Exchange purge notifications).
notice is hereby given that on February with the migration of the Exchange’s 9 FIX Drop is a real-time order and execution
trading system to the Nasdaq INET update message that is sent to a member after an
9, 2018, Nasdaq GEMX, LLC (‘‘GEMX’’ order been received/modified or an execution has
or ‘‘Exchange’’) filed with the Securities architecture, and (2) amend the occurred and contains trade details. The
and Exchange Commission Schedule of Fees to adopt fees for those information includes, among other things, the
(‘‘Commission’’) the proposed rule ports and gateways. The Exchange following: (1) Executions; (2) cancellations; (3)
established fees for the following modifications to an existing order (4) busts or post-
change as described in Items I and II trade corrections.
below, which Items have been prepared connectivity options that are available 10 Disaster Recovery ports provide connectivity to
by the Exchange. The Commission is in connection with the Exchange’s the exchange’s disaster recovery data center in
trading system: Specialized Quote Feed Chicago to be utilized in the event the exchange has
publishing this notice to solicit to fail over during the trading day. DR Ports are
daltland on DSKBBV9HB2PROD with NOTICES
comments on the proposed rule change available for SQF, SQF Purge, Dedicated SQF, CTI,
from interested persons. OTTO, FIX and FIX Drop.
11 Market Data ports provide connectivity to the
Exchange’s proprietary market data feeds, including
the Nasdaq GEMX Real-time Depth of Market Raw
13 17
Data Feed (‘‘Depth of Market Feed’’), the Nasdaq
CFR 200.30–3(a)(12). 3 See Securities and Exchange Act Release No.
GEMX Order Feed (‘‘Order Feed’’), the Nasdaq
1 15 U.S.C. 78s(b)(1). 80649 (May 10, 2017), 82 FR 22595 (May 16, 2017) GEMX Top Quote Feed (‘‘Top Quote Feed’’), the
2 17 CFR 240.19b–4. (SR–GEMX–2017–07). Continued
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![Federal Register / Vol. 83, No. 35 / Wednesday, February 21, 2018 / Notices 7521
For the Commission, by the Division of the most significant aspects of such Information eXchange (‘‘FIX’’),8 FIX
Trading and Markets, pursuant to delegated statements. Drop,9 and Disaster Recovery.10 The
authority.19 Exchange proposes to add a clarifying
Eduardo A. Aleman, A. Self-Regulatory Organization’s
Statement of the Purpose of, and sentence to make clear that port fees are
Assistant Secretary. assessed in full month increments and
Statutory Basis for, the Proposed Rule
[FR Doc. 2018–03451 Filed 2–20–18; 8:45 am]
Change are not prorated, to avoid any confusion.
BILLING CODE 8011–01–P
1. Purpose 2. Statutory Basis
The purpose of the proposed rule The Exchange believes that its
SECURITIES AND EXCHANGE change is to include language within the proposal is consistent with Section 6(b)
COMMISSION Schedule of Fees at Section II, C, of the Act,11 in general, and furthers the
entitled ‘‘INET Port Fees’’ to clarify that objectives of Section 6(b)(5) of the Act,12
[Release No. 34–82714; File No. SR–MRX– the port fees in this section are not in particular, in that it is designed to
2018–05] subject to proration. Today, the promote just and equitable principles of
Exchange does not prorate the pricing trade, to remove impediments to and
Self-Regulatory Organizations; Nasdaq
for these ports. perfect the mechanism of a free and
MRX, LLC; Notice of Filing and
Immediate Effectiveness of Proposed Background open market and a national market
Rule Change To Amend INET Port Fees system, and, in general to protect
The Exchange previously filed 3 to: (1) investors and the public interest, by
at Section II, C To Indicate Those Fees Establish ports and gateways that
Are Not Prorated clearly specifying in Section II, C that
members use to connect to the Exchange the Exchange’s pricing regarding ports is
February 14, 2018. with the migration of the Exchange’s not prorated. The Exchange believes
Pursuant to Section 19(b)(1) of the trading system to the Nasdaq INET that its decision to not prorate these
Securities Exchange Act of 1934 architecture, and (2) amend the ports is consistent with the Act because
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 Schedule of Fees to adopt fees for those prorating billing results in complexity
notice is hereby given that on February ports and gateways. The Exchange and increased costs associated with the
9, 2018, Nasdaq MRX, LLC (‘‘MRX’’ or established fees for the following billing process. The Exchange notes that
‘‘Exchange’’) filed with the Securities connectivity options that are available this proposal does not amend the
and Exchange Commission in connection with the Exchange’s Exchange’s current billing practice.
(‘‘Commission’’) the proposed rule trading system: Specialized Quote Feed
change as described in Items I and II (‘‘SQF’’),4 SQF Purge,5 Ouch to Trade B. Self-Regulatory Organization’s
below, which Items have been prepared Options (‘‘OTTO’’),6 Clearing Trade Statement on Burden on Competition
by the Exchange. The Commission is Interface (‘‘CTI’’),7 Financial
The Exchange does not believe that
publishing this notice to solicit 3 See the proposed rule change will impose
Securities and Exchange Act Release No.
comments on the proposed rule change 81312 (August 3, 2017), 82 FR 37253 (August 9, any burden on competition not
from interested persons. 2017) (SR–MRX–2017–13). necessary or appropriate in furtherance
4 SQF is an interface that allows market makers
I. Self-Regulatory Organization’s of the purposes of the Act. The
to connect and send quotes, sweeps and auction
Statement of the Terms of Substance of responses into the Exchange. Data includes the Exchange will uniformly assess the fees
the Proposed Rule Change following: (1) Options Auction Notifications (e.g., in Section II, C to all MRX Members in
opening imbalance, Flash, PIM, Solicitation and a uniform manner.
The Exchange proposes to amend Facilitation or other information); (2) Options
INET Port Fees at Section II, C to Symbol Directory Messages; (3) System Event
Messages (e.g., start of messages, start of system Agreement or ‘‘CMTA’’ or ‘‘OCC’’ number; (ii)
indicate those fees are not prorated. Exchange badge or house number; (iii) the Exchange
hours, start of quoting, start of opening); (4) Option
The text of the proposed rule change Trading Action Messages (e.g., halts, resumes); (5) internal firm identifier; and (iv) an indicator which
is available on the Exchange’s website at Execution Messages (6) Quote Messages (quote/ will distinguish electronic and non-electronically
http://nasdaqmrx.cchwallstreet.com/, at sweep messages, risk protection triggers or purge delivered orders; (v) liquidity indicators and
notifications). transaction type for billing purposes; (vi) capacity.
the principal office of the Exchange, and 5 SQF Purge is a specific port for the SQF 8 FIX is an interface that allows market
at the Commission’s Public Reference interface that only receives and notifies of purge participants to connect and send orders and auction
Room. requests from the market maker. Dedicated SQF orders into the Exchange. Data includes the
Purge Ports enable market makers to seamlessly following: (1) Options Symbol Directory Messages;
II. Self-Regulatory Organization’s manage their ability to remove their quotes in a (2) System Event Messages (e.g., start of messages,
Statement of the Purpose of, and swift manner. start of system hours, start of quoting, start of
Statutory Basis for, the Proposed Rule 6 OTTO is an interface that allows market opening); (3) Option Trading Action Messages (e.g.,
participants to connect and send orders, auction halts, resumes); (4) Execution Messages; (5) Order
Change Messages (order messages, risk protection triggers or
orders and auction responses into the Exchange.
In its filing with the Commission, the Data includes the following: (1) Options Auction purge notifications).
9 FIX Drop is a real-time order and execution
Exchange included statements Notifications (e.g., Flash, PIM, Solicitation and
Facilitation or other information); (2) Options update message that is sent to a member after an
concerning the purpose of and basis for Symbol Directory Messages; (3) System Event order been received/modified or an execution has
the proposed rule change and discussed Messages (e.g., start of messages, start of system occurred and contains trade details. The
any comments it received on the hours, start of quoting, start of opening); (5) Option information includes, among other things, the
Trading Action Messages (e.g., halts, resumes); (6) following: (1) Executions; (2) cancellations; (3)
proposed rule change. The text of these modifications to an existing order (4) busts or post-
Execution Messages; (7) Order Messages (order
statements may be examined at the trade corrections.
daltland on DSKBBV9HB2PROD with NOTICES
messages, risk protection triggers or purge
places specified in Item IV below. The notifications). 10 Disaster Recovery ports provide connectivity to
Exchange has prepared summaries, set 7 CTI is a real-time clearing trade update message the exchange’s disaster recovery data center in
forth in sections A, B, and C below, of that is sent to a member after an execution has Chicago to be utilized in the event the exchange has
occurred and contains trade details. The message to fail over during the trading day. DR Ports are
containing the trade details is also simultaneously available for SQF, SQF Purge, Dedicated SQF, CTI,
19 17 CFR 200.30–3(a)(12). OTTO, FIX and FIX Drop.
sent to The Options Clearing Corporation (‘‘OCC’’).
1 15 U.S.C. 78s(b)(1). 11 15 U.S.C. 78f(b).
The information includes, among other things, the
2 17 CFR 240.19b–4. following: (i) The Clearing Member Trade 12 15 U.S.C. 78f(b)(5).
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Document Created: 2018-02-21 01:48:23
Document Modified: 2018-02-21 01:48:23
| 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 7519 |
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