Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Implementation Date of Its Functionality Relating to Midpoint Peg Post-Only Orders and Orders With Midpoint Pegging, 17714-17716 [2017-07308]
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17714
Federal Register / Vol. 82, No. 69 / Wednesday, April 12, 2017 / Notices
which must be filed with the
Commission pursuant to Rule 17d–2
under the Act.17
IV. Conclusion
This Order gives effect to the Plan
filed with the Commission in File No.
4–709. The Parties shall notify all
members affected by the Plan of their
rights and obligations under the Plan.
It is therefore ordered, pursuant to
Section 17(d) of the Act, that the Plan
in File No. 4–709, between FINRA and
BOX, filed pursuant to Rule 17d–2
under the Act, is approved and declared
effective.
It is further ordered, that BOX is
relieved of those responsibilities
allocated to FINRA under the Plan in
File No. 4–709.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–07311 Filed 4–11–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736
mstockstill on DSK30JT082PROD with NOTICES
Extension:
Rule 425, [OMB Control No. 3235–0521,
SEC File No. 270–462]
Notice is hereby given, that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Rule 425 (17 CFR 230.425) under the
Securities Act of 1933 (15 U.S.C. 77a et
seq.) requires the filing of certain
prospectuses and communications
under Rule 135 (17 CFR 230.135) and
Rule 165 (17 CFR 230.165) in
connection with business combination
transactions. The purpose of the rule is
to permit more oral and written
communications with shareholders
about tender offers, mergers and other
business combination transactions on a
more timely basis, so long as the written
communications are filed on the date of
first use. Approximately 7,160 issuers
file communications under Rule 425 at
an estimated 0.25 hours per response for
a total of 1,790 annual burden hours
(0.25 hours per response × 7,160
responses).
Written comments are invited on: (a)
Whether the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information will have
practical utility; (b) the accuracy of the
agency’s estimate of the burden imposed
by the collection of information; (c)
ways to enhance the quality, utility, and
clarity of the information collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
Please direct your written comment to
Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
Dated: April 6, 2017.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–07301 Filed 4–11–17; 8:45 am]
BILLING CODE 8011–01–P
18:45 Apr 11, 2017
Jkt 241001
PO 00000
[Release No. 34–80391; File No. SR–
NASDAQ–2017–034]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Extend the
Implementation Date of Its
Functionality Relating to Midpoint Peg
Post-Only Orders and Orders With
Midpoint Pegging
April 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 March 31,
2017, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ 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 extend the
implementation date of its functionality
relating to Midpoint Peg Post-Only
Orders and Orders with Midpoint
Pegging.
There is no rule text for this proposed
rule change.
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
Nasdaq is filing this proposal to
extend the implementation date of its
functionality relating to Midpoint Peg
17 The Commission also notes that the addition to
or deletion from the Certification of any federal
securities laws, rules, and regulations for which
FINRA would bear responsibility under the Plan for
examining, and enforcing compliance by, Dual
Members, also would constitute an amendment to
the Plan.
18 17 CFR 200.30–3(a)(34).
VerDate Sep<11>2014
SECURITIES AND EXCHANGE
COMMISSION
1 15
2 17
Frm 00090
Fmt 4703
Sfmt 4703
E:\FR\FM\12APN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
12APN1
Federal Register / Vol. 82, No. 69 / Wednesday, April 12, 2017 / Notices
Post-Only Orders and Orders with
Midpoint Pegging. The functionality
relating to Midpoint Peg Post-Only
Orders and Orders with Midpoint
Pegging was approved by the SEC on
November 10, 2016.3
Nasdaq proposed to amend Rule 4702
(Order Types) to change its Midpoint
Peg Post-Only Order, so that, if the
NBBO is crossed, any existing Midpoint
Peg Post-Only Order would be cancelled
and any new Midpoint Peg Post-Only
Order would be rejected. Similarly,
Nasdaq proposed to amend Rule 4703
(Order Attributes) so that, if the Inside
Bid and Inside Offer are crossed, any
existing Order with Midpoint Pegging
would be cancelled and any new Order
with Midpoint Pegging would be
rejected.4
Nasdaq initially proposed to
implement this new functionality on
November 21, 2016.5 However, Nasdaq
decided to delay the implementation of
this new functionality to provide
additional time for systems testing to no
later than March 31, 2017.6
Nasdaq has now determined to delay
the implementation of the functionality
relating to Midpoint Peg Post-Only
Orders and Orders with Midpoint
Pegging to no later than May 31, 2017
to allow additional time for systems
testing. Nasdaq will announce the new
implementation date by an Equity
Trader Alert, which shall be issued
prior to the implementation date.
mstockstill on DSK30JT082PROD with NOTICES
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. The
purpose of this proposal is to inform the
SEC and market participants of the new
implementation date for the
functionality relating to Midpoint Peg
Post-Only Orders and Orders with
Midpoint Pegging. This functionality
was previously proposed in a rule filing
that was submitted to the SEC, and this
3 See Securities Exchange Act Release No. 79290
(November 10, 2016), 81 FR 81184 (November 17,
2016) (SR–NASDAQ–2016–111).
4 See Securities Exchange Act Release No. 79290
(November 10, 2016), 81 FR 81184 (November 17,
2016) (SR–NASDAQ–2016–111).
5 See Equity Trader Alert #2016–291.
6 See Securities Exchange Act Release No. 80045
(February 15, 2017), 82 FR 11389 (February 22,
2017) (SR–NASDAQ–2017–013).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
VerDate Sep<11>2014
18:45 Apr 11, 2017
Jkt 241001
proposal does not change the substance
of this functionality. Nasdaq is delaying
the implementation date of this
functionality to provide for further
systems testing prior to implementing
this functionality.
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. As noted
above, the purpose of this proposal is to
extend the implementation date for the
functionality relating to Midpoint Peg
Post-Only Orders and Orders with
Midpoint Pegging so that Nasdaq may
perform additional systems testing prior
to implementing this functionality.
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 and Rule 19b–
4(f)(6) thereunder.9
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 10 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 11
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has asked
the Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange previously
announced that it would implement the
functionality relating to Midpoint Peg
Post-Only Orders and Orders with
Midpoint Pegging no later than March
9 17 CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission.
10 17 CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6)(iii).
PO 00000
Frm 00091
Fmt 4703
Sfmt 4703
17715
31, 2017.12 The Exchange now proposes
to delay the implementation date to no
later than May 31, 2017. Waiver of the
30-day operative delay would allow the
Exchange to immediately extend the
implementation date and provide
additional time for systems testing. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposal operative upon filing.13
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–
NASDAQ–2017–034 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NASDAQ–2017–034. 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
12 See
supra note 6.
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).
13 For
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12APN1
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Federal Register / Vol. 82, No. 69 / Wednesday, April 12, 2017 / Notices
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–
NASDAQ–2017–034 and should be
submitted on or before May 3, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–07308 Filed 4–11–17; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #15102 and #15103]
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
This is a notice of an
Administrative declaration of a disaster
for the State of Alaska dated 04/04/
2017.
Incident: Royal Suite Lodge
Apartment Complex Fire.
Incident Period: 02/15/2017.
Effective Date: 04/04/2017.
Physical Loan Application Deadline
Date: 06/05/2017.
Economic Injury (Eidl) Loan
Application Deadline Date: 01/04/2018.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing And
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
mstockstill on DSK30JT082PROD with NOTICES
14 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
18:45 Apr 11, 2017
Jkt 241001
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 .....................................
2.500
BILLING CODE 4710–AD–P
3.150
DEPARTMENT OF STATE
2.500
Catalog of Federal Domestic Assistance
Number 59008)
Dated: April 4, 2017.
Linda E. McMahon,
Administrator.
[FR Doc. 2017–07295 Filed 4–11–17; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF STATE
[Public Notice: 9959]
E.O. 13224 Designation of Abu Anas alGhandour, aka Ahmed Ghandour, aka
Ahmad Ghandour, aka Ahmad Naji alGhandur, aka Abu-Anas, as a Specially
Designated Global Terrorist
Acting under the authority of and in
accordance with section 1(b) of
Executive Order 13224 of September 23,
2001, as amended by Executive Order
13268 of July 2, 2002, and Executive
Order 13284 of January 23, 2003, I
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
Rex W. Tillerson,
Secretary of State.
[FR Doc. 2017–07405 Filed 4–11–17; 8:45 am]
The number assigned to this disaster
for physical damage is 15102 5 and for
economic injury is 15103 0.
The State which received an EIDL
Declaration # is ALASKA
Alaska Disaster #AK–00036
SUMMARY:
hereby determine that the person known
as Abu Anas al-Ghandour, also known
as Ahmed Ghandour, also known as
Ahmad Ghandour, also known as
Ahmad Naji al-Ghandur, also known as
Abu-Anas, committed, or poses a
significant risk of committing, acts of
terrorism that threaten the security of
U.S. nationals or the national security,
foreign policy, or economy of the United
States.
Consistent with the determination in
section 10 of Executive Order 13224 that
prior notice to persons determined to be
subject to the Order who might have a
constitutional presence in the United
States would render ineffectual the
Percent
blocking and other measures authorized
in the Order because of the ability to
transfer funds instantaneously, I
determine that no prior notice needs to
3.750
be provided to any person subject to this
1.875 determination who might have a
constitutional presence in the United
6.300 States, because to do so would render
ineffectual the measures authorized in
3.150 the Order.
This notice shall be published in the
2.500 Federal Register.
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: Municipality of
Anchorage
Contiguous Counties:
Alaska, Chugach REAA, Kenai
Peninsula Borough, MatanuskaSusitna Borough
The Interest Rates are:
SUPPLEMENTARY INFORMATION:
[Public Notice: 9957]
Notice of Determinations; Culturally
Significant Objects Imported for
Exhibition Determinations: ‘‘Keir
Collection of Art of the Islamic World’’
Exhibitions
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), E.O. 12047 of March 27, 1978, the
Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236–3 of August 28, 2000 (and, as
appropriate, Delegation of Authority No.
257–1 of December 11, 2015), I hereby
determine that certain objects to be
included in multiple exhibitions of the
Keir Collection of Art of the Islamic
World, imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to a loan
agreement with the foreign owner or
custodian. I also determine that the
exhibition or display of the exhibit
objects at the Dallas Museum of Art,
E:\FR\FM\12APN1.SGM
12APN1
]]>Agencies
[Federal Register Volume 82, Number 69 (Wednesday, April 12, 2017)]
[Notices]
[Pages 17714-17716]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-07308]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-80391; File No. SR-NASDAQ-2017-034]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend the Implementation Date of Its Functionality Relating to
Midpoint Peg Post-Only Orders and Orders With Midpoint Pegging
April 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 March 31, 2017, The NASDAQ Stock Market LLC (``Nasdaq'' 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 extend the implementation date of its
functionality relating to Midpoint Peg Post-Only Orders and Orders with
Midpoint Pegging.
There is no rule text for this proposed rule change.
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
Nasdaq is filing this proposal to extend the implementation date of
its functionality relating to Midpoint Peg
[[Page 17715]]
Post-Only Orders and Orders with Midpoint Pegging. The functionality
relating to Midpoint Peg Post-Only Orders and Orders with Midpoint
Pegging was approved by the SEC on November 10, 2016.\3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 79290 (November 10,
2016), 81 FR 81184 (November 17, 2016) (SR-NASDAQ-2016-111).
---------------------------------------------------------------------------
Nasdaq proposed to amend Rule 4702 (Order Types) to change its
Midpoint Peg Post-Only Order, so that, if the NBBO is crossed, any
existing Midpoint Peg Post-Only Order would be cancelled and any new
Midpoint Peg Post-Only Order would be rejected. Similarly, Nasdaq
proposed to amend Rule 4703 (Order Attributes) so that, if the Inside
Bid and Inside Offer are crossed, any existing Order with Midpoint
Pegging would be cancelled and any new Order with Midpoint Pegging
would be rejected.\4\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 79290 (November 10,
2016), 81 FR 81184 (November 17, 2016) (SR-NASDAQ-2016-111).
---------------------------------------------------------------------------
Nasdaq initially proposed to implement this new functionality on
November 21, 2016.\5\ However, Nasdaq decided to delay the
implementation of this new functionality to provide additional time for
systems testing to no later than March 31, 2017.\6\
---------------------------------------------------------------------------
\5\ See Equity Trader Alert #2016-291.
\6\ See Securities Exchange Act Release No. 80045 (February 15,
2017), 82 FR 11389 (February 22, 2017) (SR-NASDAQ-2017-013).
---------------------------------------------------------------------------
Nasdaq has now determined to delay the implementation of the
functionality relating to Midpoint Peg Post-Only Orders and Orders with
Midpoint Pegging to no later than May 31, 2017 to allow additional time
for systems testing. Nasdaq will announce the new implementation date
by an Equity Trader Alert, which shall be issued prior to the
implementation date.
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.
The purpose of this proposal is to inform the SEC and market
participants of the new implementation date for the functionality
relating to Midpoint Peg Post-Only Orders and Orders with Midpoint
Pegging. This functionality was previously proposed in a rule filing
that was submitted to the SEC, and this proposal does not change the
substance of this functionality. Nasdaq is delaying the implementation
date of this functionality to provide for further systems testing prior
to implementing this functionality.
---------------------------------------------------------------------------
\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. As noted above, the purpose of
this proposal is to extend the implementation date for the
functionality relating to Midpoint Peg Post-Only Orders and Orders with
Midpoint Pegging so that Nasdaq may perform additional systems testing
prior to implementing this functionality.
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 and Rule 19b-
4(f)(6) thereunder.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \10\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \11\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the proposal may become operative immediately upon filing. The Exchange
previously announced that it would implement the functionality relating
to Midpoint Peg Post-Only Orders and Orders with Midpoint Pegging no
later than March 31, 2017.\12\ The Exchange now proposes to delay the
implementation date to no later than May 31, 2017. Waiver of the 30-day
operative delay would allow the Exchange to immediately extend the
implementation date and provide additional time for systems testing.
The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest.
Therefore, the Commission hereby waives the 30-day operative delay and
designates the proposal operative upon filing.\13\
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6)(iii).
\12\ See supra note 6.
\13\ 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-NASDAQ-2017-034 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NASDAQ-2017-034. 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
[[Page 17716]]
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-NASDAQ-2017-034 and should be submitted on or before May
3, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-07308 Filed 4-11-17; 8:45 am]
BILLING CODE 8011-01-P
