Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Correct an Inadvertent Marking Error in the Fees Schedule, 44014-44016 [2017-19965]

Download as PDF 44014 Federal Register / Vol. 82, No. 181 / Wednesday, September 20, 2017 / Notices Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– ISE–2017–82 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. sradovich on DSKBBY8HB2PROD with NOTICES All submissions should refer to File Number SR–ISE–2017–82. 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 Web site (https://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 Web site 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; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–ISE– 2017–82 and should be submitted on or before October 11, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–19963 Filed 9–19–17; 8:45 am] BILLING CODE 8011–01–P 8 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 18:28 Sep 19, 2017 Jkt 241001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81613; File No. SR–CBOE– 2017–061) Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Correct an Inadvertent Marking Error in the Fees Schedule September 14, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 6, 2017, Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘CBOE’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) thereunder.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its Fees Schedule to correct an inadvertent marking error made to the Exhibit 5 in a previous rule filing. Specifically, on January 27, 2017, the Exchange filed a rule filing, SR–CBOE–2017–011, which proposed to expand the Marketing Fee program to Lead Market-Makers and also make certain clarifications to Footnote 6 of the Fees Schedule (which governs the Marketing Fee program), effective February 1, 2017.5 The text of the proposed rule change is also available on the Exchange’s Web site (https://www.cboe.com/AboutCBOE/ CBOELegalRegulatoryHome.aspx), at the Exchange’s Office of the Secretary, and at the Commission’s Public Reference Room. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(6). 5 See Securities Exchange Act Release No. 80003 (February 9, 2017), 82 FR 10846 (February 15, 2017) (SR–CBOE–2017–011). 2 17 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 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 Exchange proposes to amend its Fees Schedule to correct an inadvertent marking error made to the Exhibit 5 in a previous rule filing. Specifically, on January 27, 2017, the Exchange filed a rule filing, SR–CBOE–2017–011, which proposed to expand the Marketing Fee program to Lead Market-Makers and also make certain clarifications to Footnote 6 of the Fees Schedule (which governs the Marketing Fee program), effective February 1, 2017.6 The Exchange notes that it mistakenly used outdated text contained in Footnote 6 of the Fees Schedule in the Exhibit 5 of that filing. Particularly, prior to filing SR–CBOE–2017–011, Footnote 6 included the statement that ‘‘. . . the marketing fee shall not apply to DJX, MXEA, MXEF, MNX, NDX, XSP or Underlying Symbol List A (34) excluding binaries options.’’ 7 The Exhibit 5 filed in SR–CBOE–2017–011 however, inadvertently left out the reference to ‘‘MXEA, MXEF, MNX, NDX’’ in that same sentence. The Exchange notes that it was not its intention to start including those products in the Marketing Fee program and also notes that no such change was otherwise referenced or implied in the 19b–4 of SR–CBOE–2017–011 or any other filing since then.8 Rather it was an inadvertent mistake that the Exchange seeks to correct. Accordingly, the Exchange proposes to add back the 6 See Securities Exchange Act Release No. 80003 (February 9, 2017), 82 FR 10846 (February 15, 2017) (SR–CBOE–2017–011). 7 See Securities Exchange Act Release No. 76923 (January 15, 2016), 81 FR 3841 (January 22, 2016) (SR–CBOE–2016–002), which rule filing was the last rule filing before SR–CBOE–2017–011 to amend Footnote 6 of the Fees Schedule. 8 See Securities Exchange Act Release No. 80003 (February 9, 2017), 82 FR 10846 (February 15, 2017) (SR–CBOE–2017–011). E:\FR\FM\20SEN1.SGM 20SEN1 Federal Register / Vol. 82, No. 181 / Wednesday, September 20, 2017 / Notices reference to ‘‘MXEA, MXEF, MNX, NDX’’ to the sentence in Footnote 6 that lists the excluded option classes from the marketing fee. No substantive changes are being made by the proposed rule change. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.9 Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 10 requirements that the rules of an exchange be 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 mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Exchange believes correcting an inadvertent marking error from a previous rule filing in order to accurately reflect the option classes that are excluded from the marketing fee will alleviate potential confusion, thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system and protecting investors and the public interest. B. Self-Regulatory Organization’s Statement on Burden on Competition sradovich on DSKBBY8HB2PROD with NOTICES 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. As discussed above, the proposed change is merely intended to correct an inadvertent marking error made in a previous rule filing, which will alleviate potential confusion. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. 9 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 10 15 VerDate Sep<11>2014 18:28 Sep 19, 2017 Jkt 241001 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing rule 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 if consistent with the protection of investors and the public interest, provided that the selfregulatory organization has given the Commission written notice of its intent to file 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,11 the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 12 and Rule 19b–4(f)(6) thereunder.13 A proposed rule change filed under Rule 19b–4(f)(6) 14 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b–4(f)(6)(iii),15 the Commission may 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 five day refiling requirement and the 30-day operative delay so that the Exchange may immediately correct the Fees Schedule. The Commission notes that the proposed rule change does not present any new, unique or substantive issues, but rather is merely correcting an error and that waiver of the five-day prefiling requirement and the 30-day operative delay will help prevent potential confusion to market participants as to CBOE’s intended applicability of the marketing fee. Therefore, 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 as operative upon filing.16 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 11 The Exchange has satisfied this requirement. U.S.C. 78s(b)(3)(A). 13 17 CFR 240.19b–4(f)(6). 14 Id. 15 17 CFR 240.19b–4(f)(6)(iii). 16 For purposes only of waiving the five-day prefiling requirement and the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 12 15 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 44015 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 Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– CBOE–2017–061 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–CBOE–2017–061. 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 Web site (https://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 Web site 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; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CBOE– 2017–061 and should be submitted on or before October 11, 2017. E:\FR\FM\20SEN1.SGM 20SEN1 44016 Federal Register / Vol. 82, No. 181 / Wednesday, September 20, 2017 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–19965 Filed 9–19–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81612; File No. SR–NYSE– 2017–47] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change September 14, 2017. 1. Purpose Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on September 7, 2017, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. The Exchange proposes to amend its Price List to (1) revise the credit for DMMs for MPL Orders that provide liquidity to the Exchange, and (2) make certain non-substantive, clarifying changes. The proposed changes would only apply to transactions in securities priced $1.00 or more. The Exchange proposes to implement these changes to its Price List effective September 7, 2017. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change sradovich on DSKBBY8HB2PROD with NOTICES The Exchange proposes to amend its Price List for equity transactions in stocks with a per share stock price more than $1.00 to (1) revise the credit for Designated Market Makers (‘‘DMMs’’) for Mid-Point Passive Liquidity (‘‘MPL’’) Orders that provide liquidity to the Exchange, and (2) make certain nonsubstantive, clarifying changes. The Exchange proposes to implement the proposed changes on September 7, 2017.4 The proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. 17 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 4 The Exchange originally filed to amend the Price List Schedule on August 29, 2017 (SR–NYSE– 2017–45) and withdrew such filing on September 7, 2017. 1 15 VerDate Sep<11>2014 18:28 Sep 19, 2017 Jkt 241001 Proposed Rule Change The Exchange proposes the following changes to its Price List. Verbal Interest at the Close The current Price List provides that the Exchange charges $0.0010 for verbal interest on the close. The Price List also provides that non-electronic agency transactions of Floor brokers that execute at the close are not charged. The Exchange would delete the current entry providing that there is no charge for non-electronic agency transactions of Floor brokers that execute at the close. This entry was inadvertently not deleted when the Exchange adopted the current charge for verbal interest on the close.5 Deleting obsolete and duplicative material would add clarity to the Exchange’s Price List. At the Opening Orders The Exchange currently charges $0.0010 for at the opening or at the opening only orders that are ‘‘credited to both sides.’’ The Exchange proposes to replace ‘‘At the opening or at the opening only orders’’ with ‘‘Executions at the Open.’’ The Exchange would also 5 See Securities Exchange Act Release No. 77929 (May 26, 2016), 81 FR 35406 (June 2, 2016). PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 delete ‘‘credited to.’’ The Exchange believes that the reference is redundant and unnecessary. Credits for MPL Orders An MPL Order is an undisplayed limit order that trades at the mid-point of the best protected bid (‘‘PBB’’) and best protected offer (‘‘PBO’’), as such terms are defined in Regulation NMS Rule 600(b)(57) (together, ‘‘PBBO’’). The Exchange proposes changes to the Price List to consolidate and streamline presentation of the credits for MPL orders that provide liquidity to the Exchange. Currently, credits for MPL orders that provide liquidity to the Exchange, excluding MPL Orders from DMMs and Supplemental Liquidity Providers (‘‘SLP’’), are set forth separately from the related credits for MPL orders that add liquidity to the Exchange applicable to SLPs. The credit amounts and qualifications for SLP and non-SLP MPL orders that add liquidity to the Exchange are the same. In order to consolidate these provisions, the Exchange proposes to delete (1) the phrase ‘‘and Supplemental Liquidity Providers (‘SLPs’)’’ from the provision governing credits for MPL orders that provide liquidity to the Exchange so as not to exclude SLP MPL orders, and (2) the SLP fees for MPL orders that add liquidity to the Exchange found under the heading ‘‘Credit Applicable to Supplemental Liquidity Providers (‘SLPs’)’’ of the Price List in their entirety. No substantive change would be effected since, as noted, the amount of the credits and qualifications for SLP and non-SLP MPL orders that add liquidity to the Exchange are currently the same and would remain unchanged. DMM MPL Orders The Exchange currently provides a credit of $0.0030 to DMMs for executions of MPL Orders in securities priced $1.00 or more that provide liquidity to the NYSE. The Exchange proposes to revise the credit to DMMs to $0.00275. * * * * * The proposed changes are not otherwise intended to address any other issues, and the Exchange is not aware of any problems that member organizations would have in complying with the proposed change. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,6 in general, and furthers the objectives of Sections 6 15 E:\FR\FM\20SEN1.SGM U.S.C. 78f(b). 20SEN1

Agencies

[Federal Register Volume 82, Number 181 (Wednesday, September 20, 2017)]
[Notices]
[Pages 44014-44016]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-19965]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81613; File No. SR-CBOE-2017-061)


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Correct an Inadvertent Marking Error in the 
Fees Schedule

September 14, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on September 6, 2017, Chicago Board Options Exchange, Incorporated 
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I, II, and III below, which Items have been prepared by the 
Exchange. The Exchange filed the proposal as a ``non-controversial'' 
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 
\3\ and Rule 19b-4(f)(6) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend its Fees Schedule to correct an 
inadvertent marking error made to the Exhibit 5 in a previous rule 
filing. Specifically, on January 27, 2017, the Exchange filed a rule 
filing, SR-CBOE-2017-011, which proposed to expand the Marketing Fee 
program to Lead Market-Makers and also make certain clarifications to 
Footnote 6 of the Fees Schedule (which governs the Marketing Fee 
program), effective February 1, 2017.\5\
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 80003 (February 9, 
2017), 82 FR 10846 (February 15, 2017) (SR-CBOE-2017-011).
---------------------------------------------------------------------------

    The text of the proposed rule change is also available on the 
Exchange's Web site (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the 
Secretary, 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 Exchange proposes to amend its Fees Schedule to correct an 
inadvertent marking error made to the Exhibit 5 in a previous rule 
filing. Specifically, on January 27, 2017, the Exchange filed a rule 
filing, SR-CBOE-2017-011, which proposed to expand the Marketing Fee 
program to Lead Market-Makers and also make certain clarifications to 
Footnote 6 of the Fees Schedule (which governs the Marketing Fee 
program), effective February 1, 2017.\6\ The Exchange notes that it 
mistakenly used outdated text contained in Footnote 6 of the Fees 
Schedule in the Exhibit 5 of that filing. Particularly, prior to filing 
SR-CBOE-2017-011, Footnote 6 included the statement that ``. . . the 
marketing fee shall not apply to DJX, MXEA, MXEF, MNX, NDX, XSP or 
Underlying Symbol List A (34) excluding binaries options.'' \7\ The 
Exhibit 5 filed in SR-CBOE-2017-011 however, inadvertently left out the 
reference to ``MXEA, MXEF, MNX, NDX'' in that same sentence. The 
Exchange notes that it was not its intention to start including those 
products in the Marketing Fee program and also notes that no such 
change was otherwise referenced or implied in the 19b-4 of SR-CBOE-
2017-011 or any other filing since then.\8\ Rather it was an 
inadvertent mistake that the Exchange seeks to correct. Accordingly, 
the Exchange proposes to add back the

[[Page 44015]]

reference to ``MXEA, MXEF, MNX, NDX'' to the sentence in Footnote 6 
that lists the excluded option classes from the marketing fee. No 
substantive changes are being made by the proposed rule change.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 80003 (February 9, 
2017), 82 FR 10846 (February 15, 2017) (SR-CBOE-2017-011).
    \7\ See Securities Exchange Act Release No. 76923 (January 15, 
2016), 81 FR 3841 (January 22, 2016) (SR-CBOE-2016-002), which rule 
filing was the last rule filing before SR-CBOE-2017-011 to amend 
Footnote 6 of the Fees Schedule.
    \8\ See Securities Exchange Act Release No. 80003 (February 9, 
2017), 82 FR 10846 (February 15, 2017) (SR-CBOE-2017-011).
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act.\9\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \10\ requirements that the rules of an exchange be 
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 
mechanism of a free and open market and a national market system, and, 
in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes correcting an inadvertent marking error from 
a previous rule filing in order to accurately reflect the option 
classes that are excluded from the marketing fee will alleviate 
potential confusion, thereby removing impediments to and perfecting the 
mechanism of a free and open market and a national market system and 
protecting investors and the public interest.

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. As discussed above, the 
proposed change is merely intended to correct an inadvertent marking 
error made in a previous rule filing, which will alleviate potential 
confusion.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange neither solicited nor received comments on the 
proposed rule change.

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

    Because the foregoing rule 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 if consistent with the protection of investors 
and the public interest, provided that the self-regulatory organization 
has given the Commission written notice of its intent to file 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,\11\ the proposed rule change has become effective 
pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6) 
thereunder.\13\
---------------------------------------------------------------------------

    \11\ The Exchange has satisfied this requirement.
    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \14\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\15\ the Commission 
may 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 five day refiling requirement 
and the 30-day operative delay so that the Exchange may immediately 
correct the Fees Schedule. The Commission notes that the proposed rule 
change does not present any new, unique or substantive issues, but 
rather is merely correcting an error and that waiver of the five-day 
prefiling requirement and the 30-day operative delay will help prevent 
potential confusion to market participants as to CBOE's intended 
applicability of the marketing fee. Therefore, 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 as operative upon filing.\16\
---------------------------------------------------------------------------

    \14\ Id.
    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ For purposes only of waiving the five-day prefiling 
requirement and the 30-day operative delay, 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: (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 Comments

     Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-CBOE-2017-061 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-CBOE-2017-061. 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 Web site (https://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 Web site 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; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-CBOE-2017-061 and should be 
submitted on or before October 11, 2017.


[[Page 44016]]


    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

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

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-19965 Filed 9-19-17; 8:45 am]
BILLING CODE 8011-01-P
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