Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Adopt New Rules That Describe the Trading of Complex Orders on the Exchange, 41079-41080 [2017-18241]

Download as PDF Federal Register / Vol. 82, No. 166 / Tuesday, August 29, 2017 / Notices impose any burden on intramarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. IEX also notes that it does not have exclusive arrangements with third-party vendors with respect to optional access to discounted products and services from third-party vendors. IEX believes that multiple third-party vendors offer similar services and listed companies will not be required to accept any discounted products and services as a condition to listing. IEX listed companies are free to purchase similar products and services from other vendors, or not to use any such products and services, instead of accepting the products and services described herein offered by the Exchange. Thus, even if IEX were to list a large number of companies, it nonetheless does not believe that the proposed rule change will adversely impact competition for such products and services. 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the date of publication of this notice in the Federal Register or within such longer period up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) by order approve or disapprove such proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments sradovich on DSK3GMQ082PROD with NOTICES 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: 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–IEX–2017–20. 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–IEX– 2017–20 and should be submitted on or before September 19, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–18242 Filed 8–28–17; 8:45 am] BILLING CODE 8011–01–P 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– IEX–2017–20 on the subject line. VerDate Sep<11>2014 18:45 Aug 28, 2017 Jkt 241001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81468; File No. SR– BatsEDGX–2017–29] Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Designation of Longer Period for Commission Action on Proposed Rule Change To Adopt New Rules That Describe the Trading of Complex Orders on the Exchange August 23, 2017. On June 30, 2017, Bats EDGX Exchange, Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to adopt new rules that describe the trading of complex orders on the Exchange’s equity options platform. The proposed rule change was published for comment in the Federal Register on July 19, 2017.3 The Commission has received no comment letters regarding the proposal. Section 19(b)(2) of the Act 4 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day for this filing is September 2, 2017. The Commission is extending the 45day time period for Commission action on the proposed rule change. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider and take action on the Exchange’s proposed rule change. Accordingly, pursuant to Section 19(b)(2) of the Act 5 and for the reasons stated above, the Commission designates October 17, 2017, as the date by which the Commission should either approve or disapprove, or institute proceedings to determine whether to 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 81137 (July 13, 2017), 82 FR 33170. 4 15 U.S.C. 78s(b)(2). 5 15 U.S.C. 78s(b)(2). 2 17 11 17 PO 00000 CFR 200.30–3(a)(12). Frm 00098 Fmt 4703 Sfmt 4703 41079 E:\FR\FM\29AUN1.SGM 29AUN1 41080 Federal Register / Vol. 82, No. 166 / Tuesday, August 29, 2017 / Notices disapprove, the proposed rule change (File No. SR–BatsEDGX–2017–29). SECURITIES AND EXCHANGE COMMISSION For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Eduardo A. Aleman, Assistant Secretary. [Release Nos. 33–10407; 34–81476/August 24, 2017] [FR Doc. 2017–18241 Filed 8–28–17; 8:45 am] I. Background The Commission collects fees under various provisions of the securities laws. Section 6(b) of the Securities Act of 1933 (‘‘Securities Act’’) requires the Commission to collect fees from issuers on the registration of securities.1 Section 13(e) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) requires the Commission to collect fees on specified repurchases of securities.2 Section 14(g) of the Exchange Act requires the Commission to collect fees on specified proxy solicitations and statements in corporate control transactions.3 These provisions require the Commission to make annual adjustments to the applicable fee rates. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION sradovich on DSK3GMQ082PROD with NOTICES Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold a closed meeting on Thursday, August 31, 2017 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (a)(10), permit consideration of the scheduled matters at the closed meeting. Commissioner Piwowar, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matters of the closed meeting will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; Adjudicatory matters; Resolution of litigation claims; and Other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed; please contact Brent J. Fields from the Office of the Secretary at (202) 551–5400. Dated: August 24, 2017. Brent J. Fields, Secretary. [FR Doc. 2017–18350 Filed 8–25–17; 11:15 am] BILLING CODE 8011–01–P 6 17 CFR 200.30–3(a)(31). VerDate Sep<11>2014 18:45 Aug 28, 2017 Jkt 241001 Order Making Fiscal Year 2018 Annual Adjustments to Registration Fee Rates II. Fiscal Year 2018 Annual Adjustment to Fee Rates Section 6(b)(2) of the Securities Act requires the Commission to make an annual adjustment to the fee rate applicable under Section 6(b).4 The annual adjustment to the fee rate under Section 6(b) of the Securities Act also sets the annual adjustment to the fee rates under Sections 13(e) and 14(g) of the Exchange Act.5 Section 6(b)(2) sets forth the method for determining the annual adjustment to the fee rate under Section 6(b) for fiscal year 2018. Specifically, the Commission must adjust the fee rate under Section 6(b) to a ‘‘rate that, when applied to the baseline estimate of the aggregate maximum offering prices for [fiscal year 2018], is reasonably likely to produce aggregate fee collections under [Section 6(b)] that are equal to the target fee collection amount for [fiscal year 2018].’’ That is, the adjusted rate is determined by dividing the ‘‘target fee collection amount’’ for fiscal year 2018 by the ‘‘baseline estimate of the aggregate maximum offering prices’’ for fiscal year 2018. Section 6(b)(6)(A) specifies that the ‘‘target fee collection amount’’ for fiscal 1 15 U.S.C. 77f(b). 2 15 U.S.C. 78m(e). 3 15 U.S.C. 78n(g). 4 15 U.S.C. 77f(b)(2). The annual adjustments are designed to adjust the fee rate in a given fiscal year so that, when applied to the aggregate maximum offering price at which securities are proposed to be offered for the fiscal year, it is reasonably likely to produce total fee collections under Section 6(b) equal to the ‘‘target fee collection amount’’ specified in Section 6(b)(6)(A) for that fiscal year. 5 15 U.S.C. 78m(e)(4) and 15 U.S.C. 78n(g)(4). PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 year 2018 is $620,000,000. Section 6(b)(6)(B) defines the ‘‘baseline estimate of the aggregate maximum offering prices’’ for fiscal year 2018 as ‘‘the baseline estimate of the aggregate maximum offering price at which securities are proposed to be offered pursuant to registration statements filed with the Commission during [fiscal year 2018] as determined by the Commission, after consultation with the Congressional Budget Office and the Office of Management and Budget . . . .’’ To make the baseline estimate of the aggregate maximum offering price for fiscal year 2018, the Commission is using a methodology that has been used in prior fiscal years and that was developed in consultation with the Congressional Budget Office (‘‘CBO’’) and Office of Management and Budget (‘‘OMB’’).6 Using this methodology, the Commission determines the ‘‘baseline estimate of the aggregate maximum offering price’’ for fiscal year 2018 to be $4,981,648,951,511. Based on this estimate, the Commission calculates the fee rate for fiscal 2018 to be $124.50 per million. This adjusted fee rate applies to Section 6(b) of the Securities Act, as well as to Sections 13(e) and 14(g) of the Exchange Act. III. Effective Dates of the Annual Adjustments The fiscal year 2018 annual adjustments to the fee rates applicable under Section 6(b) of the Securities Act and Sections 13(e) and 14(g) of the Exchange Act will be effective on October 1, 2017.7 IV. Conclusion Accordingly, pursuant to Section 6(b) of the Securities Act and Sections 13(e) and 14(g) of the Exchange Act,8 It is hereby ordered that the fee rates applicable under Section 6(b) of the Securities Act and Sections 13(e) and 14(g) of the Exchange Act shall be $124.50 per million effective on October 1, 2017. 6 Appendix A explains how we determined the ‘‘baseline estimate of the aggregate maximum offering price’’ for fiscal year 2018 using our methodology, and then shows the arithmetical process of calculating the fiscal year 2018 annual adjustment based on that estimate. The appendix includes the data used by the Commission in making its ‘‘baseline estimate of the aggregate maximum offering price’’ for fiscal year 2018. 7 15 U.S.C. 77f(b)(4), 15 U.S.C. 78m(e)(6) and 15 U.S.C. 78n(g)(6). 8 15 U.S.C. 77f(b), 78m(e) and 78n(g). E:\FR\FM\29AUN1.SGM 29AUN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 82, Number 166 (Tuesday, August 29, 2017)]
[Notices]
[Pages 41079-41080]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-18241]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81468; File No. SR-BatsEDGX-2017-29]


Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice 
of Designation of Longer Period for Commission Action on Proposed Rule 
Change To Adopt New Rules That Describe the Trading of Complex Orders 
on the Exchange

August 23, 2017.
    On June 30, 2017, Bats EDGX Exchange, Inc. (the ``Exchange'' or 
``EDGX'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to adopt new rules that describe the trading of 
complex orders on the Exchange's equity options platform. The proposed 
rule change was published for comment in the Federal Register on July 
19, 2017.\3\ The Commission has received no comment letters regarding 
the proposal.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 81137 (July 13, 
2017), 82 FR 33170.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \4\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is September 2, 2017.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission is extending the 45-day time period for Commission 
action on the proposed rule change. The Commission finds that it is 
appropriate to designate a longer period within which to take action on 
the proposed rule change so that it has sufficient time to consider and 
take action on the Exchange's proposed rule change.
    Accordingly, pursuant to Section 19(b)(2) of the Act \5\ and for 
the reasons stated above, the Commission designates October 17, 2017, 
as the date by which the Commission should either approve or 
disapprove, or institute proceedings to determine whether to

[[Page 41080]]

disapprove, the proposed rule change (File No. SR-BatsEDGX-2017-29).
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-18241 Filed 8-28-17; 8:45 am]
 BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.