Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Data Collection Requirements in Rule 3317, 14238-14240 [2017-05341]
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Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices
does not routinely edit comment
submissions to remove such information
before making the comment
submissions available to the public or
entering the comment into ADAMS.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
II. Background
In accordance with the Paperwork
Reduction Act of 1995 (44 U.S.C.
Chapter 35), the NRC is requesting
public comment on its intention to
request the OMB’s approval for the
information collection summarized
below.
1. The title of the information
collection: Comprehensive
Decommissioning Program, Including
Annual Data Collection.
2. OMB approval number: 3150–0206.
3. Type of submission: Extension.
4. The form number, if applicable:
N/A
5. How often the collection is required
or requested: Annually.
6. Who will be required or asked to
respond: All Agreement States who
have signed Section 274(b) Agreements
with the NRC.
7. The estimated number of annual
responses: 69 (45 responses from
Agreement States with sites of interest
+24 responses from Agreement States
with no sites of interest).
8. The estimated number of annual
respondents: 37 (13 Agreement States
respondents with sites of interest +24
Agreement States respondents with no
sites of interest).
9. The estimated number of hours
needed annually to comply with the
information collection requirement or
request: 432 (360 hours from Agreement
States with sites of interest +72 hours
from Agreement States with no sites of
interest).
10. Abstract: The Agreement States
will be asked to provide information
about uranium recovery and complex
sites undergoing decommissioning
regulated by the Agreement States on an
annual basis. The information request
will allow the NRC to compile, in a
centralized location, more complete
information on the status of
decommissioning and decontamination
in the United States in order to provide
a national perspective on
decommissioning. The information will
be made available to the public by the
NRC in order to ensure openness and
promote communication to enhance
public knowledge of the national
decommissioning program. This does
not apply to information, such as trade
secrets and commercial or financial
information provided by the Agreement
States, that is considered privileged or
confidential.
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III. Specific Requests for Comments.
The NRC is seeking comments that
address the following questions:
1. Is the proposed collection of
information necessary for the NRC to
properly perform its functions? Does the
information have practical utility?
2. Is the estimate of the burden of the
information collection accurate?
3. Is there a way to enhance the
quality, utility, and clarity of the
information to be collected?
4. How can the burden of the
information collection on respondents
be minimized, including the use of
automated collection techniques or
other forms of information technology?
Dated at Rockville, Maryland, this 13th day
of March 2017.
For the Nuclear Regulatory Commission.
David Cullison,
NRC Clearance Officer, Office of the Chief
Information Officer.
[FR Doc. 2017–05355 Filed 3–16–17; 8:45 am]
BILLING CODE 7590–01–P
POSTAL SERVICE
Notice of Intent To Prepare a
Programmatic Environmental
Assessment for the Purchase of
Commercial Vehicles
Postal Service.
ACTION: Notice of intent to prepare a
Programmatic Environmental
Assessment.
AGENCY:
To comply with the
requirements of the National
Environmental Policy Act (NEPA), the
Postal Service intends to prepare a
Programmatic Environmental
Assessment (PEA) for the purchase of
commercial off-the-shelf (COTS)
delivery vehicles to accommodate route
growth and replace aged, highmaintenance vehicles over the next
three years. This PEA will evaluate the
environmental impacts of the proposed
action versus the alternatives of leasing
the vehicles in lieu of purchase, and
taking no action.
DATES: Comments should be received no
later than April 3, 2017. In May of 2017,
the Postal Service will publish a Notice
of Availability to announce the
availability of the Draft PEA and solicit
comments on the Draft PEA during a
second 15-day public comment period.
ADDRESSES: Interested parties may
direct comments, questions, or requests
for additional information to: Davon
Collins, Environmental Counsel, U.S.
Postal Service, Room 6333, 475 L’Enfant
Plaza SW., Washington, DC 20260,
telephone (202) 268–4570, email
davon.m.collins@usps.gov.
SUPPLEMENTARY INFORMATION: This
notice concerns a proposed purchase of
commercial off-the-shelf (COTS)
delivery vehicles, and the intent of the
Postal Service, pursuant to the
requirements of the National
Environmental Policy Act (NEPA) of
1969, its implementing procedures at 39
CFR 775, and the President’s Council on
Environmental Quality Regulations (40
CFR parts 1500–1508), to prepare a PEA
to evaluate the environmental impacts
of the proposed action versus the
alternatives of leasing the vehicles in
lieu of purchase, or taking no action.
To stabilize its delivery fleet pending
the development of a longer-term
solution to its vehicle needs, the Postal
Service is considering the purchase of
approximately 25,000 left-hand drive
and right-hand drive COTS delivery
vehicles to accommodate route growth
over the next three years and to replace
approximately 18,000 aged and highmaintenance cost vehicles. The
prospective PEA will be prepared in
accordance with NEPA, and will
consider the physical, biological,
cultural, and socioeconomic
environments. To assist in this process,
the Postal Service is soliciting the
public’s input and comments.
Stanley F. Mires,
Attorney, Federal Compliance.
[FR Doc. 2017–05304 Filed 3–16–17; 8:45 am]
BILLING CODE 7710–12–P
SUMMARY:
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80226; File No. SR–Phlx–
2017–22]
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend the
Data Collection Requirements in Rule
3317
March 13, 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
28, 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
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices
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
Rule 3317 to modify the date of
Appendix B Web site data publication
pursuant to the Regulation NMS Plan to
Implement a Tick Size Pilot Program
(‘‘Plan’’).
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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Rule 3317(b) (Compliance with Data
Collection Requirements) 3 implements
the data collection and Web site
publication requirements of the Plan.4
Commentary .08 to Rule 3317 provides,
among other things, that the
requirement that the Exchange make
certain data publicly available on the
Exchange Web site pursuant to
Appendix B and C to the Plan shall
commence at the beginning of the Pilot
Period,5 and that Phlx shall make data
for the Pre-Pilot Period publicly
3 See Rule 3317(b). See also Securities Exchange
Act Release No. 77458 (March 28, 2016), 81 FR
18919 (April 1, 2016) (SR–Phlx–2016–39).
4 The Participants filed the Plan to comply with
an order issued by the Commission on June 24,
2014. See Letter from Brendon J. Weiss, Vice
President, Intercontinental Exchange, Inc., to
Secretary, Commission, dated August 25, 2014
(‘‘SRO Tick Size Plan Proposal’’). See Securities
Exchange Act Release No 72460 (June 24, 2014), 79
FR 36840 (June 30, 2014); see also Securities
Exchange Act Release No. 74892 (May 6, 2015), 80
FR 27513 (May 13, 2015).
5 Unless otherwise defined herein, capitalized
terms have the meaning ascribed to them in Rule
3317.
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available on the Exchange Web site
pursuant to Appendix B and C to the
Plan by February 28, 2017.6
Phlx is proposing amendments to
Commentary .08 to Rule 3317 to delay
the date by which Pre-Pilot and Pilot
Appendix B data is to be made publicly
available on the Exchange’s Web site
from February 28, 2017, until April 28,
2017. Appendix C data for the Pre-Pilot
Period through the month of January
2017 will be published on the
Exchange’s Web site on February 28,
2017, and, thereafter, on the original 30day schedule.7 As some of the data
reporting requirements set forth in Rule
3317 require members to report data to
their Designated Examining Authority
(‘‘DEA’’), which may not be Phlx, the
Exchange is also proposing to add
references in Commentary .08 to reflect
the fact that the Exchange or the DEA
may be publishing such data.
In the SRO Tick Size Plan Proposal,
the Participants stated that the public
data will be made available for free ‘‘on
a disaggregated basis by trading center’’
on the Web sites of the Participants and
the Designated Examining Authorities.8
However, market participants have
expressed confidentiality concerns
regarding this approach for over-thecounter (‘‘OTC’’) data.9 Thus, Phlx is
filing the instant proposed rule change
to provide additional time to assess a
means of addressing the confidentiality
concerns raised in connection with the
publication of Appendix B data related
6 On November 30, 2016, the SEC granted
exemptive relief to the Participants to, among other
things, delay the publication of Web site data
pursuant to Appendices B and C to the Plan until
February 28, 2017, and to delay the ongoing Web
site publication by ninety days such that data
would be published within 120 calendar days
following the end of the month. See Letter from
David S. Shillman, Associate Director, Division of
Trading and Markets, Commission, to Marcia E.
Asquith, Senior Vice President and Corporate
Secretary, FINRA, dated November 30, 2016; see
also Securities Exchange Act Release No. 79545
(December 14, 2016), 81 FR 92916 (December 20,
2016) (SR–Phlx–2016–118).
7 Since, under Rule 3317(b)(4), Phlx is not
independently publishing Market Maker
profitability data collected pursuant to Item I of
Appendix C of the Plan, no corresponding change
to the language of Rule 3317(b)(4) relating to the
timing of the publication of Appendix C data for the
Pilot Period is needed.
8 See Securities Exchange Act Release No. 73511
(November 3, 2014), 79 FR 66423 (November 7,
2014) (Notice of Filing of Proposed National Market
System Plan to Implement a Tick Size Pilot Program
on a One-Year Pilot Basis, File No. 4–657) (‘‘Tick
Size Plan Proposal’’).
9 See letters from Adam C. Cooper, Senior
Managing Director and Chief Legal Officer, Citadel
Securities, to Brent J. Fields, Secretary,
Commission, dated December 21, 2016 (‘‘Citadel
letter’’); and William Hebert, Managing Director,
Financial Information Forum, to Robert W. Errett,
Deputy Secretary, Commission, dated December 21,
2016 (‘‘FIF letter’’).
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14239
to OTC activity in furtherance of the
objectives of the Plan.10 Pursuant to this
amendment, Appendix B data
publication will be delayed until April
28, 2017. The Participants anticipate
filing additional proposed rule changes
to address Appendix B data publication.
Phlx has filed the proposed rule
change for immediate effectiveness. The
operative date of the proposed rule
change will be the date of filing.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,11 in general, and furthers the
objectives of Section 6(b)(5) of the Act,12
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. Phlx
also believes that the proposal is
consistent with Section 6(b)(8) of the
Act,13 which requires that Exchange
rules not impose any burden on
competition that is not necessary or
appropriate.
The Plan is designed to allow the
Commission, market participants, and
the public to study and assess the
impact of increment conventions on the
liquidity and trading of the common
stock of small-capitalization companies.
Phlx believes that this proposal is
consistent with the Act because it is in
furtherance of the objectives of Section
VII(A) of the Plan in that it is designed
to provide the Exchange with additional
time to assess a means of addressing the
confidentiality concerns raised in
connection with the publication of
Appendix B data, to comply with the
Plan’s requirements that the data made
publicly available will not identify the
trading center that generated the data.
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
proposed rule change implements the
provisions of the Plan.
10 In connection with its filing to implement a
similar change in its rules, the Financial Industry
Regulatory Authority, Inc. is also is submitting an
exemptive request to the SEC on behalf of all Plan
Participants requesting relief from the relevant
requirements of the Plan.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
13 15 U.S.C. 78f(b)(8).
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Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices
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.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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) of the Act 14 and Rule 19b–
4(f)(6) thereunder.15
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii), the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has filed the proposed rule
change for immediate effectiveness and
has requested that the Commission
waive the requirement that the proposed
rule change not become operative for 30
days after the date of the filing so that
it may become operative on February
28, 2017.
The Exchange notes that the proposed
rule change is intended to address
confidentiality concerns raised in
connection with the publication of OTC
Appendix B data by permitting the
Exchange to delay Web site publication
of its Appendix B data from February
28, 2017 to April 28, 2017.16 The
Exchange notes that the delay would
provide additional time to assess a
means of addressing the confidentiality
concerns. The Exchange notes that it
expects Participants to file proposed
rule changes related to publishing
Appendix B data.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because it will allow the Exchange to
delay publication of its Appendix B data
until April 28, 2017. As noted above,
commenters continue to raise concerns
about the publication of OTC Appendix
14 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
16 See supra note 9. The Commission notes that
FINRA has submitted a proposed rule change to
delay the publication of OTC Appendix B data. See
SR–FINRA–2017–005.
15 17
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B data.17 Delaying publication of
Exchange’s Appendix B data 18 will
prevent the publication of partial (i.e.,
Exchange-only) Appendix B data
required under the Plan. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change to be operative on
February 28, 2017.19
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
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–2017–22 on the subject line.
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–
2017–22, and should be submitted on or
before April 7, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–05341 Filed 3–16–17; 8:45 am]
BILLING CODE 8011–01–P
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–2017–22. 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
17 The Commission notes that FINRA has filed a
proposed rule change that is intended to mitigate
confidentiality concerns raised by commenters
regarding the publication of OTC Appendix B data.
See SR–FINRA–2017–006.
18 The Commission notes that other Participants
have proposed to delay the publication of their
Appendix B data until April 28, 2017. See SR–
BatsBYX–2017–05; SR–BatsBZX–2017–15; SR–
BatsEDGA–2017–05; SR–BatsEDGX–2017–13; SR–
BX–2017–016; SR–CHX–2017–05; SR–FINRA–
2017–005; SR–IEX–2017–07; SR–NASDAQ–2017–
024; SR–NYSE–2017–10; SR–NYSEArca–2017–19;
SR–NYSEMKT–2017–11.
19 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–80223; File No. SR–IEX–
2016–18]
Self-Regulatory Organizations;
Investors Exchange, LLC; Order
Granting Approval to a Proposed Rule
Change To: (i) Amend Rules
11.190(a)(3) and 11.190(b)(8) To Modify
the Operation of the Primary Peg Order
Type; (ii) Amend Rule
11.190(h)(3)(C)(ii) and (D)(ii) Regarding
Price Sliding in Locked and Crossed
Markets To Simplify the Price Sliding
Process for Both Primary Peg Orders
and Discretionary Peg Orders Resting
on or Posting to the Order Book; and
(iii) Make Minor Technical Changes To
Conform Certain Terminology
March 13, 2017.
I. Introduction
On November 29, 2016, the Investors
Exchange LLC (‘‘Exchange’’) filed with
20 17
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CFR 200.30–3(a)(12).
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]]>Agencies
[Federal Register Volume 82, Number 51 (Friday, March 17, 2017)]
[Notices]
[Pages 14238-14240]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-05341]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80226; File No. SR-Phlx-2017-22]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the Data
Collection Requirements in Rule 3317
March 13, 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 28, 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
[[Page 14239]]
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 Rule 3317 to modify the date of
Appendix B Web site data publication pursuant to the Regulation NMS
Plan to Implement a Tick Size Pilot Program (``Plan'').
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqphlx.cchwallstreet.com/ 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
Rule 3317(b) (Compliance with Data Collection Requirements) \3\
implements the data collection and Web site publication requirements of
the Plan.\4\ Commentary .08 to Rule 3317 provides, among other things,
that the requirement that the Exchange make certain data publicly
available on the Exchange Web site pursuant to Appendix B and C to the
Plan shall commence at the beginning of the Pilot Period,\5\ and that
Phlx shall make data for the Pre-Pilot Period publicly available on the
Exchange Web site pursuant to Appendix B and C to the Plan by February
28, 2017.\6\
---------------------------------------------------------------------------
\3\ See Rule 3317(b). See also Securities Exchange Act Release
No. 77458 (March 28, 2016), 81 FR 18919 (April 1, 2016) (SR-Phlx-
2016-39).
\4\ The Participants filed the Plan to comply with an order
issued by the Commission on June 24, 2014. See Letter from Brendon
J. Weiss, Vice President, Intercontinental Exchange, Inc., to
Secretary, Commission, dated August 25, 2014 (``SRO Tick Size Plan
Proposal''). See Securities Exchange Act Release No 72460 (June 24,
2014), 79 FR 36840 (June 30, 2014); see also Securities Exchange Act
Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015).
\5\ Unless otherwise defined herein, capitalized terms have the
meaning ascribed to them in Rule 3317.
\6\ On November 30, 2016, the SEC granted exemptive relief to
the Participants to, among other things, delay the publication of
Web site data pursuant to Appendices B and C to the Plan until
February 28, 2017, and to delay the ongoing Web site publication by
ninety days such that data would be published within 120 calendar
days following the end of the month. See Letter from David S.
Shillman, Associate Director, Division of Trading and Markets,
Commission, to Marcia E. Asquith, Senior Vice President and
Corporate Secretary, FINRA, dated November 30, 2016; see also
Securities Exchange Act Release No. 79545 (December 14, 2016), 81 FR
92916 (December 20, 2016) (SR-Phlx-2016-118).
---------------------------------------------------------------------------
Phlx is proposing amendments to Commentary .08 to Rule 3317 to
delay the date by which Pre-Pilot and Pilot Appendix B data is to be
made publicly available on the Exchange's Web site from February 28,
2017, until April 28, 2017. Appendix C data for the Pre-Pilot Period
through the month of January 2017 will be published on the Exchange's
Web site on February 28, 2017, and, thereafter, on the original 30-day
schedule.\7\ As some of the data reporting requirements set forth in
Rule 3317 require members to report data to their Designated Examining
Authority (``DEA''), which may not be Phlx, the Exchange is also
proposing to add references in Commentary .08 to reflect the fact that
the Exchange or the DEA may be publishing such data.
---------------------------------------------------------------------------
\7\ Since, under Rule 3317(b)(4), Phlx is not independently
publishing Market Maker profitability data collected pursuant to
Item I of Appendix C of the Plan, no corresponding change to the
language of Rule 3317(b)(4) relating to the timing of the
publication of Appendix C data for the Pilot Period is needed.
---------------------------------------------------------------------------
In the SRO Tick Size Plan Proposal, the Participants stated that
the public data will be made available for free ``on a disaggregated
basis by trading center'' on the Web sites of the Participants and the
Designated Examining Authorities.\8\ However, market participants have
expressed confidentiality concerns regarding this approach for over-
the-counter (``OTC'') data.\9\ Thus, Phlx is filing the instant
proposed rule change to provide additional time to assess a means of
addressing the confidentiality concerns raised in connection with the
publication of Appendix B data related to OTC activity in furtherance
of the objectives of the Plan.\10\ Pursuant to this amendment, Appendix
B data publication will be delayed until April 28, 2017. The
Participants anticipate filing additional proposed rule changes to
address Appendix B data publication.
---------------------------------------------------------------------------
\8\ See Securities Exchange Act Release No. 73511 (November 3,
2014), 79 FR 66423 (November 7, 2014) (Notice of Filing of Proposed
National Market System Plan to Implement a Tick Size Pilot Program
on a One-Year Pilot Basis, File No. 4-657) (``Tick Size Plan
Proposal'').
\9\ See letters from Adam C. Cooper, Senior Managing Director
and Chief Legal Officer, Citadel Securities, to Brent J. Fields,
Secretary, Commission, dated December 21, 2016 (``Citadel letter'');
and William Hebert, Managing Director, Financial Information Forum,
to Robert W. Errett, Deputy Secretary, Commission, dated December
21, 2016 (``FIF letter'').
\10\ In connection with its filing to implement a similar change
in its rules, the Financial Industry Regulatory Authority, Inc. is
also is submitting an exemptive request to the SEC on behalf of all
Plan Participants requesting relief from the relevant requirements
of the Plan.
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Phlx has filed the proposed rule change for immediate
effectiveness. The operative date of the proposed rule change will be
the date of filing.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\11\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\12\ 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. Phlx also believes that the proposal is consistent with
Section 6(b)(8) of the Act,\13\ which requires that Exchange rules not
impose any burden on competition that is not necessary or appropriate.
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\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
\13\ 15 U.S.C. 78f(b)(8).
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The Plan is designed to allow the Commission, market participants,
and the public to study and assess the impact of increment conventions
on the liquidity and trading of the common stock of small-
capitalization companies. Phlx believes that this proposal is
consistent with the Act because it is in furtherance of the objectives
of Section VII(A) of the Plan in that it is designed to provide the
Exchange with additional time to assess a means of addressing the
confidentiality concerns raised in connection with the publication of
Appendix B data, to comply with the Plan's requirements that the data
made publicly available will not identify the trading center that
generated the data.
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 proposed rule change
implements the provisions of the Plan.
[[Page 14240]]
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) of the Act \14\ and Rule 19b-
4(f)(6) thereunder.\15\
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\14\ 15 U.S.C. 78s(b)(3)(A).
\15\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative prior to 30 days after the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has filed
the proposed rule change for immediate effectiveness and has requested
that the Commission waive the requirement that the proposed rule change
not become operative for 30 days after the date of the filing so that
it may become operative on February 28, 2017.
The Exchange notes that the proposed rule change is intended to
address confidentiality concerns raised in connection with the
publication of OTC Appendix B data by permitting the Exchange to delay
Web site publication of its Appendix B data from February 28, 2017 to
April 28, 2017.\16\ The Exchange notes that the delay would provide
additional time to assess a means of addressing the confidentiality
concerns. The Exchange notes that it expects Participants to file
proposed rule changes related to publishing Appendix B data.
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\16\ See supra note 9. The Commission notes that FINRA has
submitted a proposed rule change to delay the publication of OTC
Appendix B data. See SR-FINRA-2017-005.
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The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest
because it will allow the Exchange to delay publication of its Appendix
B data until April 28, 2017. As noted above, commenters continue to
raise concerns about the publication of OTC Appendix B data.\17\
Delaying publication of Exchange's Appendix B data \18\ will prevent
the publication of partial (i.e., Exchange-only) Appendix B data
required under the Plan. Therefore, the Commission hereby waives the
30-day operative delay and designates the proposed rule change to be
operative on February 28, 2017.\19\
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\17\ The Commission notes that FINRA has filed a proposed rule
change that is intended to mitigate confidentiality concerns raised
by commenters regarding the publication of OTC Appendix B data. See
SR-FINRA-2017-006.
\18\ The Commission notes that other Participants have proposed
to delay the publication of their Appendix B data until April 28,
2017. See SR-BatsBYX-2017-05; SR-BatsBZX-2017-15; SR-BatsEDGA-2017-
05; SR-BatsEDGX-2017-13; SR-BX-2017-016; SR-CHX-2017-05; SR-FINRA-
2017-005; SR-IEX-2017-07; SR-NASDAQ-2017-024; SR-NYSE-2017-10; SR-
NYSEArca-2017-19; SR-NYSEMKT-2017-11.
\19\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 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-2017-22 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-2017-22. 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-2017-22, and should be
submitted on or before April 7, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
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\20\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05341 Filed 3-16-17; 8:45 am]
BILLING CODE 8011-01-P
