Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Billing Ports and Other Services, 13371-13372 [2017-04726]
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Federal Register / Vol. 82, No. 46 / Friday, March 10, 2017 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80162; File No. SR–Phlx–
2017–18]
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Related to
Billing Ports and Other Services
March 6, 2017.
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
21, 2017, NASDAQ PHLX LLC (‘‘Phlx’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend Port
Fees in Chapter VII at Part B to indicate
those fees are not prorated.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqphlx.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.
sradovich on DSK3GMQ082PROD with NOTICES
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
Chapter VII, entitled ‘‘Other
Membership Fees’’ at Part B, entitled
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
18:37 Mar 09, 2017
Jkt 241001
‘‘Port Fees’’ to clarify that the port fees
in this section are not subject to
proration.
Chapter VII, Part B includes pricing
for Order Entry Ports,3 Active SQF Port
Fees,4 CTI Ports,5 and SQF Purge Ports.6
Today, the Exchange does not prorate
any of these per month port fees. The
Exchange proposes to add a clarifying
sentence to make clear that port fees are
assessed in full month increments and
are not prorated, to avoid any confusion.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,7 in general, and furthers the
objectives of Section 6(b)(5) of the Act,8
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
3 The Order Entry Port Fee is a connectivity fee
in connection with routing orders to the Exchange
via an external order entry port. Phlx members
access the Exchange’s network through order entry
ports. A Phlx member may have more than one
order entry port.
4 SQF is an interface that allows Specialists,
Streaming Quote Traders (‘‘SQTs’’) and Remote
Streaming Quote Traders (‘‘RSQTs’’) to connect and
send quotes and sweeps into Phlx XL. Data includes
the following: (1) Options Auction Notifications
(e.g., opening imbalance, market exhaust, Price
Improvement XL or PIXLSM (‘‘PIXL’’) Auction
information, 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)
Complex Order Strategy Auction Notifications
(COLA); (5) Complex Order Strategy messages; (6)
Option Trading Action Messages (e.g., halts,
resumes); (7) Complex Strategy Trading Action
Message (e.g., halts, resumes) and (8) Quote
Messages (quote/sweep messages, risk protection
triggers or purge notifications). Active SQF ports are
ports that receive inbound quotes at any time
within that month.
5 CTI offers real-time clearing trade updates. A
real-time clearing trade update is a 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. The trade messages
are routed to a member’s connection containing
certain information. The administrative and market
event messages include, but are not limited to:
System event messages to communicate
operational-related events; options directory
messages to relay basic option symbol and contract
information for options traded on the Exchange;
complex strategy messages to relay information for
those strategies traded on the Exchange; trading
action messages to inform market participants when
a specific option or strategy is halted or released for
trading on the Exchange; and an indicator which
distinguishes electronic and non-electronically
delivered orders.
6 An Active SQF Purge Port may be configured as
a ‘‘Purge-only’’ port of purging option interest from
the Exchange’s system and allowing entry of
underlying-level purges for a specified range of
options and delivery of Purge Notification messages
identifying the identification of who submitted the
purge and the underlying symbol.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00067
Fmt 4703
Sfmt 4703
13371
system, and, in general to protect
investors and the public interest, by
clearly specifying in Chapter VII, Part B
that the Exchange’s pricing regarding
ports is not prorated. The Exchange
believes that its decision to not prorate
is consistent with the Act because
prorating billing results in complexity
and increased costs associated with the
billing process.
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 Chapter VII, Part B to all Phlx
members and member organizations 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
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 9 and Rule
19b–4(f)(6) thereunder.10 Because the
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, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and Rule 19b–4(f)(6)
thereunder.12
A proposed rule change filed under
Rule 19b–4(f)(6) 13 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),14 the
Commission may 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 proposed
rule change may become operative
9 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
11 15 U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6).
14 17 CFR 240.19b–4(f)(6)(iii).
10 17
E:\FR\FM\10MRN1.SGM
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13372
Federal Register / Vol. 82, No. 46 / Friday, March 10, 2017 / Notices
immediately. The Exchange requests
that the Commission waive the 30-day
operative delay contained in Rule 19b–
4(f)(6)(iii) so that the Exchange may
implement the change upon filing
specifying that the port fees in Chapter
VII, Part B of the Exchange’s Pricing
Schedule will not be prorated. The
Commission believes that adding the
sentence to Chapter VII, Part B of the
Exchange’s Pricing Schedule to state
that port fees are assessed in full-month
increments, i.e., they are not prorated,
will avoid confusion and thus serve to
protect investors and the public interest.
For this reason, the Commission hereby
waives the 30-day operative delay and
designates the proposal operative upon
filing.15
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. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
change 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–
Phlx–2017–18 on the subject line.
sradovich on DSK3GMQ082PROD with NOTICES
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–Phlx–2017–18. 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
15 For purposes only of waiving 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).
VerDate Sep<11>2014
18:37 Mar 09, 2017
Jkt 241001
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–Phlx–2017–18 and should
be submitted on or before March 31,
2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–04726 Filed 3–9–17; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #15081 and #15082]
Texas Disaster #TX–00478
Small Business Administration.
Notice.
AGENCY:
ACTION:
This is a notice of an
Administrative declaration of a disaster
for the State of Texas dated 03/03/2017.
Incident: Severe Storms and
Tornadoes.
Incident Period: 02/19/2017 through
02/20/2017.
DATES: Effective 03/03/2017.
Physical Loan Application Deadline
Date: 05/02/2017.
Economic Injury (EIDL) Loan
Application Deadline Date: 12/04/2017.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
SUMMARY:
16 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00068
Fmt 4703
Sfmt 4703
A
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s disaster declaration,
applications for disaster loans may be
filed at the address listed above or other
locally announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Bexar.
Contiguous Counties:
Texas: Atascosa, Bandera, Comal,
Guadalupe, Kendall, Medina,
Wilson.
FOR FURTHER INFORMATION CONTACT:
The Interest Rates are:
Percent
For Physical Damage:
Homeowners With Credit Available Elsewhere ......................
Homeowners Without Credit
Available Elsewhere ..............
Businesses With Credit Available Elsewhere ......................
Businesses
Without
Credit
Available Elsewhere ..............
Non-Profit Organizations With
Credit Available Elsewhere ...
Non-Profit Organizations Without Credit Available Elsewhere .....................................
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..............
Non-Profit Organizations Without Credit Available Elsewhere .....................................
3.750
1.875
6.300
3.150
2.500
2.500
3.150
2.500
The number assigned to this disaster
for physical damage is 15081 B and for
economic injury is 15082 0.
The States which received an EIDL
Declaration # are TEXAS.
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
Dated: March 3, 2017.
Linda E. McMahon,
Administrator.
[FR Doc. 2017–04761 Filed 3–9–17; 8:45 am]
BILLING CODE 8025–01–P
SOCIAL SECURITY ADMINISTRATION
[Docket No: SSA–2017–0011]
Agency Information Collection
Activities: Proposed Request and
Comment Request
The Social Security Administration
(SSA) publishes a list of information
collection packages requiring clearance
E:\FR\FM\10MRN1.SGM
10MRN1
]]>Agencies
[Federal Register Volume 82, Number 46 (Friday, March 10, 2017)]
[Notices]
[Pages 13371-13372]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-04726]
[[Page 13371]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80162; File No. SR-Phlx-2017-18]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Related to Billing
Ports and Other Services
March 6, 2017.
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 21, 2017, NASDAQ PHLX LLC (``Phlx'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``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 in Chapter VII at Part B
to indicate those fees are not prorated.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqphlx.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 Chapter VII, entitled ``Other Membership Fees'' at Part B,
entitled ``Port Fees'' to clarify that the port fees in this section
are not subject to proration.
Chapter VII, Part B includes pricing for Order Entry Ports,\3\
Active SQF Port Fees,\4\ CTI Ports,\5\ and SQF Purge Ports.\6\ Today,
the Exchange does not prorate any of these per month port fees. The
Exchange proposes to 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\ The Order Entry Port Fee is a connectivity fee in connection
with routing orders to the Exchange via an external order entry
port. Phlx members access the Exchange's network through order entry
ports. A Phlx member may have more than one order entry port.
\4\ SQF is an interface that allows Specialists, Streaming Quote
Traders (``SQTs'') and Remote Streaming Quote Traders (``RSQTs'') to
connect and send quotes and sweeps into Phlx XL. Data includes the
following: (1) Options Auction Notifications (e.g., opening
imbalance, market exhaust, Price Improvement XL or PIXL\SM\
(``PIXL'') Auction information, 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) Complex Order Strategy Auction Notifications (COLA);
(5) Complex Order Strategy messages; (6) Option Trading Action
Messages (e.g., halts, resumes); (7) Complex Strategy Trading Action
Message (e.g., halts, resumes) and (8) Quote Messages (quote/sweep
messages, risk protection triggers or purge notifications). Active
SQF ports are ports that receive inbound quotes at any time within
that month.
\5\ CTI offers real-time clearing trade updates. A real-time
clearing trade update is a 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. The trade messages are routed to a
member's connection containing certain information. The
administrative and market event messages include, but are not
limited to: System event messages to communicate operational-related
events; options directory messages to relay basic option symbol and
contract information for options traded on the Exchange; complex
strategy messages to relay information for those strategies traded
on the Exchange; trading action messages to inform market
participants when a specific option or strategy is halted or
released for trading on the Exchange; and an indicator which
distinguishes electronic and non-electronically delivered orders.
\6\ An Active SQF Purge Port may be configured as a ``Purge-
only'' port of purging option interest from the Exchange's system
and allowing entry of underlying-level purges for a specified range
of options and delivery of Purge Notification messages identifying
the identification of who submitted the purge and the underlying
symbol.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\7\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\8\ 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 Chapter VII, Part B that the Exchange's
pricing regarding ports is not prorated. The Exchange believes that its
decision to not prorate is consistent with the Act because prorating
billing results in complexity and increased costs associated with the
billing process.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 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 Chapter VII, Part B to all Phlx members and member
organizations 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
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
Because the 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, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \11\ and Rule 19b-
4(f)(6) thereunder.\12\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 17 CFR 240.19b-4(f)(6).
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \13\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\14\ the Commission
may 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 proposed
rule change may become operative
[[Page 13372]]
immediately. The Exchange requests that the Commission waive the 30-day
operative delay contained in Rule 19b-4(f)(6)(iii) so that the Exchange
may implement the change upon filing specifying that the port fees in
Chapter VII, Part B of the Exchange's Pricing Schedule will not be
prorated. The Commission believes that adding the sentence to Chapter
VII, Part B of the Exchange's Pricing Schedule to state that port fees
are assessed in full-month increments, i.e., they are not prorated,
will avoid confusion and thus serve to protect investors and the public
interest. For this reason, the Commission hereby waives the 30-day
operative delay and designates the proposal operative upon filing.\15\
---------------------------------------------------------------------------
\13\ 17 CFR 240.19b-4(f)(6).
\14\ 17 CFR 240.19b-4(f)(6)(iii).
\15\ For purposes only of waiving 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 necessary or
appropriate in the public interest, for the protection of investors, or
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 change 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-Phlx-2017-18 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-Phlx-2017-18. 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-Phlx-2017-18 and
should be submitted on or before March 31, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
Eduardo A. Aleman,
Assistant Secretary.
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. 2017-04726 Filed 3-9-17; 8:45 am]
BILLING CODE 8011-01-P
