Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MIAX Options Rules 301, Just and Equitable Principles of Trade; Rule 308, Exemptions From Position Limits; Rule 404, Series of Option Contracts Open for Trading; Rule 514, Priority of Quotes and Orders; Rule 1325, Telemarketing; and Rule 1400, Definitions, 23477-23479 [2017-10312]

Download as PDF Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices mstockstill on DSK30JT082PROD with NOTICES 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 the date of filing. The Exchange notes that the proposed rule change is intended to mitigate confidentiality concerns raised in connection with section VII(A) of the Plan, which provides that the data made publicly available will not identify the Trading Center that generated the data. The Exchange states that the additional time would allow consideration of a methodology to mitigate concerns related to the publication of Appendix B data.15 The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because it will synchronize the timing for publication of Appendix B data for all Participants, which should enhance the consistency and usefulness of the data.16 Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative on the date of filing.17 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 15 The Commission recently approved a FINRA proposal to implement an aggregated, anonymous grouped masking methodology for the publication of Appendix B data related to OTC trading activity. See Securities Exchange Release No. 80551, (April 28, 2017), 82 FR 20948 (May 4, 2017). See also Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Marcia E. Asquith, Executive Vice President FINRA, dated April 28, 2017. 16 The Commission recently granted exemptive relief to the Participants delay the publication of their Appendix B data until August 31, 2017. See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Jennifer Piorko Mitchell, Vice President and Deputy Corporate Secretary, FINRA, dated April 28, 2017. The Commission notes that other Participants have submitted proposed rule changes to delay the publication of Appendix B data until August 31, 2017. See e.g., SR–BatsBYX–2017–10; SR– BatsEDGA–2017–10; SR–BatsEDGX–2017–19; SR– BX–2017–022; SR–CHX–2017–07; SR–FINRA– 2017–010; SR–IEX–2017–12; SR–NASDAQ–2017– 044; SR–Phlx–2017–33; SR–NYSE–2017–19; SR– NYSEArca-2017–49; SR–NYSEMKT–2017–24. 17 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). VerDate Sep<11>2014 23:17 May 19, 2017 Jkt 241001 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– BatsBZX–2017–31 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–BatsBZX–2017–31. 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 (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for 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– BatsBZX–2017–31 and should be submitted on or before June 12, 2017. PO 00000 Frm 00308 Fmt 4703 Sfmt 4703 23477 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–10309 Filed 5–19–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–80690; File No. SR–MIAX– 2017–21] Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MIAX Options Rules 301, Just and Equitable Principles of Trade; Rule 308, Exemptions From Position Limits; Rule 404, Series of Option Contracts Open for Trading; Rule 514, Priority of Quotes and Orders; Rule 1325, Telemarketing; and Rule 1400, Definitions May 16, 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 May 15, 2017, Miami International Securities Exchange, LLC (‘‘MIAX Options’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I, II, and III 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 is filing a proposal to amend Exchange Rule 301, Just and Equitable Principles of Trade; Rule 308, Exemptions from Position Limits; Rule 404, Series of Option Contracts Open for Trading; Rule 514, Priority of Quotes and Orders; Rule 1325, Telemarketing; and Rule 1400, Definitions. The text of the proposed rule change is available on the Exchange’s Web site at http://www.miaxoptions.com/rulefilings, at MIAX’s principal office, and at the Commission’s Public Reference Room. 18 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\22MYN1.SGM 22MYN1 23478 Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / Notices 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. mstockstill on DSK30JT082PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Exchange Rules 301.02, 308(a)(7)(vi), 308(b)(6),404.02(d), 514(e)(2), 1325(n)(20), and 1400(l) to make minor non-substantive corrective changes. First, the Exchange propose to amend Exchange Rule 301, Just and Equitable Principles of Trade, Interpretations and Policies .02, to convert the numerical list item identifiers to alphabetical identifiers to properly conform to the hierarchical heading scheme used throughout the Exchange’s rulebook. Additionally, there are two alphabetical identifiers, ‘‘A’’ and ‘‘B’’, located further in the paragraph which must be converted to numerical identifiers ‘‘1’’ and ‘‘2’’ respectively, to align to the hierarchical heading scheme of the Exchange’s Rulebook. Therefore, the Exchange proposes to replace the numerical identifiers with alphabetical identifiers located in the beginning of the paragraph, and to then in turn replace the alphabetical identifiers with numerical identifiers for the references which occur later in the paragraph. Second, the Exchange proposes to amend Exchange Rule 308, Exemptions from Position Limits, to correct an incorrect cross reference. Exchange Rule 308(a)(7)(vi) states that a ‘‘Member on its own behalf or on behalf of a designated aggregation unit pursuant to Rule 308(a)(iv) shall also report . . . ’’. The reference to paragraph (a)(iv) of Rule 308 is incorrect as 308(a)(7)(iv) is the correct section, which is titled Effect on Aggregation of Account Positions. Therefore, the Exchange proposes to replace the reference to paragraph (a)(iv) with (a)(7)(iv). Additionally, the Exchange proposes to amend paragraph (b)(6) of Rule 308 to replace the alphabetical list identifiers (‘‘A’’ through ‘‘D’’) with romanette identifiers VerDate Sep<11>2014 23:17 May 19, 2017 Jkt 241001 ‘‘i’’ through ‘‘iv’’ respectively, to align to the hierarchical heading scheme of the Exchange’s Rulebook. Third, the Exchange proposes to amend Exchange Rule 404, Series of Option Contracts Open for Trading, Interpretations and Policies .02, Short Term Option Series Program, to correct a typographical error in paragraph (d). The fourth sentence in the paragraph begins, ‘‘Market makers,’’ whereas ‘‘makers’’ should be capitalized. Therefore, the Exchange proposes to amend the rule to replace the term ‘‘Market makers’’ with ‘‘Market Makers.’’ Fourth, the Exchange proposes to amend Exchange Rule 514, Priority of Quotes and Orders, to correct an invalid cross reference in paragraph (e)(2) of the Rule. Exchange Rule 514(e)(2) describes ‘‘Market Maker non-priority quotes, (as described in Rule 517(b)(1)(ii)) and Market Maker orders in both assigned and non-assigned classes.’’ The reference to paragraph 517(b)(1)(ii) is incorrect as 517(b)(1)(ii) describes the Priority Quote Width Standard, whereas 517(b)(1)(iii) describes Non-Priority Quotes. Therefore, the Exchange proposes to replace the reference to 517(b)(1)(ii) with 517(b)(1)(iii). Fifth, the Exchange proposes to amend Exchange Rule 1325, Telemarketing, to correct a typographical error in paragraph (n) subsection (20) where the word telemarketer is incorrectly spelled ‘‘telelmarketer.’’ Lastly, the Exchange proposes to amend Exchange Rule 1400, Definitions, to make a minor non-substantive correction to paragraph (l). Exchange Rule 1400(l) provides the definition of the OPRA Plan as, ‘‘the plan filed with the SEC pursuant to Section 11Aa(1)(C)(iii) of the Exchange Act, approved by the SEC and declared effective as of January 22, 1976, as from time to time amended.’’ The reference to 11Aa(1)(C)(iii) is incorrect as the correct citation format is 11A(a)(1)(C)(iii). Therefore, the Exchange propose to replace 11Aa(1)(C)(iii) with 11A(a)(1)(C)(iii). 2. Statutory Basis MIAX believes that its proposed rule change is consistent with Section 6(b) of the Act 3 in general, and furthers the objectives of Section 6(b)(5) of the Act 4 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with 3 15 4 15 PO 00000 U.S.C. 78f(b). U.S.C. 78f(b)(5). Frm 00309 Fmt 4703 Sfmt 4703 persons engaged in facilitating transactions in securities, to remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. The Exchange believes the proposed rule changes promote just and equitable principles of trade and removes impediments to and perfects the mechanism of a free and open market and a national market system because the proposed rule change corrects errors in the hierarchical heading scheme to provide uniformity in the Exchange’s rulebook; corrects incorrect cross references; and corrects minor typographical errors. The Exchange notes that the proposed changes do not alter the application of each rule. As such, the proposed amendments would foster cooperation and coordination with persons engaged in facilitating transactions in securities and would remove impediments to and perfect the mechanism of a free and open market and national exchange system. In particular, the Exchange believes that the proposed rule changes will provide greater clarity to Members 5 and the public regarding the Exchange’s Rules. It is in the public interest for rules to be accurate and concise so as to eliminate the potential for confusion. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change will have no impact on competition as it is not designed to address any competitive issues but rather to add additional clarity to existing rules and to remedy minor non-substantive issues in the text of various rules identified in this proposal. The Exchange does not believe that the proposed rule changes will impose any burden on intermarket competition as the Rules apply equally to all Exchange Members. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. 5 The term ‘‘Member’’ means an individual or organization approved to exercise the trading rights associated with a Trading Permit. Members are deemed ‘‘members’’ under the Exchange Act. See Exchange Rule 100. E:\FR\FM\22MYN1.SGM 22MYN1 Federal Register / Vol. 82, No. 97 / Monday, May 22, 2017 / 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 after the date of the filing, or such shorter time as the Commission may designate, it has become effective pursuant to 19(b)(3)(A) of the Act 6 and Rule 19b–4(f)(6) 7 thereunder. 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– MIAX–2017–21 on the subject line. mstockstill on DSK30JT082PROD 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–MIAX–2017–21. 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 (http://www.sec.gov/ rules/sro.shtml). Copies of the 6 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 7 17 VerDate Sep<11>2014 23:17 May 19, 2017 Jkt 241001 23479 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–MIAX– 2017–21 and should be submitted on or before June 12, 2017. designated this proposal as a ‘‘noncontroversial’’ proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6)(iii) thereunder,4 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Eduardo A. Aleman, Assistant Secretary. 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 parts of such statements. [FR Doc. 2017–10312 Filed 5–19–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–80689; File No. SR– BatsEDGX–2017–19] Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rule 11.22 of Bats EDGX Exchange, Inc. To Modify the Date of Appendix B Web Site Data Publication Pursuant to the Regulation NMS Plan To Implement a Tick Size Pilot Program May 16, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on May 4, 2017, Bats EDGX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00310 Fmt 4703 Sfmt 4703 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rule 11.22 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 at the Exchange’s Web site at www.bats.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 A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose Rule 11.22(b) (Compliance with Data Collection Requirements) 5 implements the data collection and Web site publication requirements of the Plan.6 Rule 11.22(b).08 provides, among other things, that the requirement that the 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6)(iii). 5 See Exchange Rule 11.22(b). See also Securities Exchange Act Release Nos. 77416 (March 22, 2016), 81 FR 17225 (March 28, 2016); and 78798 (September 9, 2016), 81 FR 63532 (September 15, 2016). 6 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). 4 17 E:\FR\FM\22MYN1.SGM 22MYN1

Agencies

[Federal Register Volume 82, Number 97 (Monday, May 22, 2017)]
[Notices]
[Pages 23477-23479]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-10312]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80690; File No. SR-MIAX-2017-21]


Self-Regulatory Organizations; Miami International Securities 
Exchange LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend MIAX Options Rules 301, Just and 
Equitable Principles of Trade; Rule 308, Exemptions From Position 
Limits; Rule 404, Series of Option Contracts Open for Trading; Rule 
514, Priority of Quotes and Orders; Rule 1325, Telemarketing; and Rule 
1400, Definitions

May 16, 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 May 15, 2017, Miami International Securities Exchange, LLC 
(``MIAX Options'' or ``Exchange'') filed with the Securities and 
Exchange Commission (``Commission'') a proposed rule change as 
described in Items I, II, and III 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 is filing a proposal to amend Exchange Rule 301, Just 
and Equitable Principles of Trade; Rule 308, Exemptions from Position 
Limits; Rule 404, Series of Option Contracts Open for Trading; Rule 
514, Priority of Quotes and Orders; Rule 1325, Telemarketing; and Rule 
1400, Definitions.
    The text of the proposed rule change is available on the Exchange's 
Web site at http://www.miaxoptions.com/rule-filings, at MIAX's 
principal office, and at the Commission's Public Reference Room.

[[Page 23478]]

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
    The Exchange proposes to amend Exchange Rules 301.02, 
308(a)(7)(vi), 308(b)(6),404.02(d), 514(e)(2), 1325(n)(20), and 1400(l) 
to make minor non-substantive corrective changes.
    First, the Exchange propose to amend Exchange Rule 301, Just and 
Equitable Principles of Trade, Interpretations and Policies .02, to 
convert the numerical list item identifiers to alphabetical identifiers 
to properly conform to the hierarchical heading scheme used throughout 
the Exchange's rulebook. Additionally, there are two alphabetical 
identifiers, ``A'' and ``B'', located further in the paragraph which 
must be converted to numerical identifiers ``1'' and ``2'' 
respectively, to align to the hierarchical heading scheme of the 
Exchange's Rulebook. Therefore, the Exchange proposes to replace the 
numerical identifiers with alphabetical identifiers located in the 
beginning of the paragraph, and to then in turn replace the 
alphabetical identifiers with numerical identifiers for the references 
which occur later in the paragraph.
    Second, the Exchange proposes to amend Exchange Rule 308, 
Exemptions from Position Limits, to correct an incorrect cross 
reference. Exchange Rule 308(a)(7)(vi) states that a ``Member on its 
own behalf or on behalf of a designated aggregation unit pursuant to 
Rule 308(a)(iv) shall also report . . . ''. The reference to paragraph 
(a)(iv) of Rule 308 is incorrect as 308(a)(7)(iv) is the correct 
section, which is titled Effect on Aggregation of Account Positions. 
Therefore, the Exchange proposes to replace the reference to paragraph 
(a)(iv) with (a)(7)(iv). Additionally, the Exchange proposes to amend 
paragraph (b)(6) of Rule 308 to replace the alphabetical list 
identifiers (``A'' through ``D'') with romanette identifiers ``i'' 
through ``iv'' respectively, to align to the hierarchical heading 
scheme of the Exchange's Rulebook.
    Third, the Exchange proposes to amend Exchange Rule 404, Series of 
Option Contracts Open for Trading, Interpretations and Policies .02, 
Short Term Option Series Program, to correct a typographical error in 
paragraph (d). The fourth sentence in the paragraph begins, ``Market 
makers,'' whereas ``makers'' should be capitalized. Therefore, the 
Exchange proposes to amend the rule to replace the term ``Market 
makers'' with ``Market Makers.''
    Fourth, the Exchange proposes to amend Exchange Rule 514, Priority 
of Quotes and Orders, to correct an invalid cross reference in 
paragraph (e)(2) of the Rule. Exchange Rule 514(e)(2) describes 
``Market Maker non-priority quotes, (as described in Rule 
517(b)(1)(ii)) and Market Maker orders in both assigned and non-
assigned classes.'' The reference to paragraph 517(b)(1)(ii) is 
incorrect as 517(b)(1)(ii) describes the Priority Quote Width Standard, 
whereas 517(b)(1)(iii) describes Non-Priority Quotes. Therefore, the 
Exchange proposes to replace the reference to 517(b)(1)(ii) with 
517(b)(1)(iii).
    Fifth, the Exchange proposes to amend Exchange Rule 1325, 
Telemarketing, to correct a typographical error in paragraph (n) 
subsection (20) where the word telemarketer is incorrectly spelled 
``telelmarketer.''
    Lastly, the Exchange proposes to amend Exchange Rule 1400, 
Definitions, to make a minor non-substantive correction to paragraph 
(l). Exchange Rule 1400(l) provides the definition of the OPRA Plan as, 
``the plan filed with the SEC pursuant to Section 11Aa(1)(C)(iii) of 
the Exchange Act, approved by the SEC and declared effective as of 
January 22, 1976, as from time to time amended.'' The reference to 
11Aa(1)(C)(iii) is incorrect as the correct citation format is 
11A(a)(1)(C)(iii). Therefore, the Exchange propose to replace 
11Aa(1)(C)(iii) with 11A(a)(1)(C)(iii).
2. Statutory Basis
    MIAX believes that its proposed rule change is consistent with 
Section 6(b) of the Act \3\ in general, and furthers the objectives of 
Section 6(b)(5) of the Act \4\ in particular, in that it is designed to 
prevent fraudulent and manipulative acts and practices, to promote just 
and equitable principles of trade, to foster cooperation and 
coordination with persons engaged in facilitating transactions in 
securities, to remove impediments to and perfect the mechanisms of a 
free and open market and a national market system and, in general, to 
protect investors and the public interest.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes the proposed rule changes promote just and 
equitable principles of trade and removes impediments to and perfects 
the mechanism of a free and open market and a national market system 
because the proposed rule change corrects errors in the hierarchical 
heading scheme to provide uniformity in the Exchange's rulebook; 
corrects incorrect cross references; and corrects minor typographical 
errors. The Exchange notes that the proposed changes do not alter the 
application of each rule. As such, the proposed amendments would foster 
cooperation and coordination with persons engaged in facilitating 
transactions in securities and would remove impediments to and perfect 
the mechanism of a free and open market and national exchange system. 
In particular, the Exchange believes that the proposed rule changes 
will provide greater clarity to Members \5\ and the public regarding 
the Exchange's Rules. It is in the public interest for rules to be 
accurate and concise so as to eliminate the potential for confusion.
---------------------------------------------------------------------------

    \5\ The term ``Member'' means an individual or organization 
approved to exercise the trading rights associated with a Trading 
Permit. Members are deemed ``members'' under the Exchange Act. See 
Exchange Rule 100.
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. The proposed rule change 
will have no impact on competition as it is not designed to address any 
competitive issues but rather to add additional clarity to existing 
rules and to remedy minor non-substantive issues in the text of various 
rules identified in this proposal.
    The Exchange does not believe that the proposed rule changes will 
impose any burden on intermarket competition as the Rules apply equally 
to all Exchange Members.

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

    Written comments were neither solicited nor received.

[[Page 23479]]

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 after the date of the filing, or such 
shorter time as the Commission may designate, it has become effective 
pursuant to 19(b)(3)(A) of the Act \6\ and Rule 19b-4(f)(6) \7\ 
thereunder.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-MIAX-2017-21 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-MIAX-2017-21. 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 (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for 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-MIAX-2017-21 and should be 
submitted on or before June 12, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-10312 Filed 5-19-17; 8:45 am]
 BILLING CODE 8011-01-P