Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule, 47782-47784 [2017-22158]
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Federal Register / Vol. 82, No. 197 / Friday, October 13, 2017 / Notices
6(b)(5) of the Act 7 in that they are
designed to promote just and equitable
principles of trade, to remove
impediments to a free and open market
and national market system, and in
general to protect investors and the
public interest. Specifically, the amount
of revenue forgone by this limited
waiver of Nasdaq’s entry fee is not
substantial, and may result in more
companies remaining listed on Nasdaq
in connection with such transactions,
thereby increasing the resources
available for Nasdaq’s listing
compliance program, which helps to
assure that listing standards are
properly enforced and investors are
protected. Consequently, Nasdaq
believes that the potential loss of
revenue from this change will not
hinder its ability to fulfill its regulatory
responsibilities.
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.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Eduardo A. Aleman,
Assistant Secretary.
IV. Solicitation of Comments
[FR Doc. 2017–22159 Filed 10–12–17; 8:45 am]
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq 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 market
for listing services is extremely
competitive and listed companies may
freely choose alternative venues based
on the aggregate fees assessed, and the
value provided by each listing. In such
an environment, Nasdaq must
continually adjust its fees to remain
competitive with other exchanges.
Because other listing venues are
similarly free to modify their own fees
in response, Nasdaq believes that the
degree to which fee changes in this
market may impose any burden on
competition is extremely limited.
Paper Comments
asabaliauskas on DSKBBXCHB2PROD with 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.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.8
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: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
7 15
8 15
U.S.C. 78f(b)(5).
U.S.C. 78s(b)(3)(A)(ii).
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BILLING CODE 8011–01–P
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–2017–096 on the subject line.
• 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–2017–096. 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 such
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–2017–096, and should be
submitted on or before November 3,
2017.
PO 00000
Frm 00096
Fmt 4703
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81836; File No. SR–C2–
2017–026]
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend the Fees Schedule
October 6, 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
September 21, 2017, C2 Options
Exchange, Incorporated (the ‘‘Exchange’’
or ‘‘C2’’) filed with the Securities and
Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I and II,
below, which Items have been prepared
by the Exchange. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(6) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Fees Schedule to correct an inadvertent
marking error made to the Exhibit 5 in
a previous rule filing.
The text of the proposed rule change
is also available on the Exchange’s Web
site (https://www.cboe.com/AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
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
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
1 15
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Federal Register / Vol. 82, No. 197 / Friday, October 13, 2017 / Notices
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
asabaliauskas on DSKBBXCHB2PROD with NOTICES
1. Purpose
The Exchange proposes to amend its
Fees Schedule to correct an inadvertent
marking error made to the Exhibit 5 in
a previous rule filing. Specifically, on
April 13, 2017, the Exchange filed a rule
filing, SR–C2–2017–015, which
proposed to eliminate certain PULSe
fees, effective April 3, 2017.5 The
Exchange notes that it mistakenly used
outdated text contained in Section 11 of
the Fees Schedule in the Exhibit 5 of
that filing. Particularly, prior to filing
SR–C2–2017–015, the Exchange had
reduced the monthly fee assessed to
TPHs who either receive or send drop
copies via a PULSe workstation. More
specifically, if a customer receiving
drop copies is a TPH, that TPH
customer (the receiving TPH) is now
charged a fee of $425 per month (down
from $1000 per month), per PULSe
broker from whom it receives drop
copies via PULSe. If a customer
receiving drop copies is a non-TPH, the
PULSe broker (the sending TPH) who
sends drop copies via PULSe to that
customer is now charged a fee of $400
per month (down from $500 per
month).6 The Exhibit 5 filed in SR–C2–
2017–015 however, inadvertently did
not reflect the new prices that had
previously been adopted for Drop Copy
fees (i.e., $425 per month and $400 per
month). Rather it listed the older prices
of $1,000 per month and $500 per
month, respectively. The Exchange
notes that it was not its intention to
revert back to the old pricing and that
no such change was otherwise
5 The Exchange initially filed the proposed fee
change on April 3, 2017 (SR–C2–2017–012). On
April 13, 2017, the Exchange withdrew that filing
and submitted SR–C2–2017–015. See Securities
Exchange Act Release No. 80473 (April 17, 2017),
82 FR 18790 (April 21, 2017) (SR–C2–2017–015).
6 See Securities Exchange Act Release No. 80031
(February 13, 2017), 82 FR 11087 (February 17,
2017) (SR–C2–2017–008). The Exchange notes that
in the filing that adopted the Drop Copy fees, the
appended footnote for the ‘‘Drop Copy (received by
non-TPH customer)’’ fee mistakenly referenced the
fee as $1,000/month instead of $500/month. See
Securities Exchange Act Release No. 79807 (January
17, 2017), 82 FR 8238 (January 24, 2017) (SR–C2–
2017–002).
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Jkt 244001
implemented, referenced or implied in
the 19b–4 of SR–C2–2017–008 or any
other filing since then. Rather it was an
inadvertent mistake that the Exchange
seeks to correct.
Lastly, the Exchange notes that it had
previously renamed the ‘‘OATS
Reporting’’ fee to the ‘‘Equity Order
Reports’’ fee.7 The Exchange
inadvertently did not incorporate the
name change in the Exhibit 5 of SR–C2–
2017–015. The Exchange notes that it
was not its intention to revert back to
the old name and that no such change
was otherwise referenced or implied in
the 19b–4 of SR–C2–2017–008 or any
other filing since then.
Accordingly, the Exchange proposes
to amend the Fees Schedule to reflect
the accurate prices of the Drop Copy
Fees and the accurate name of the
Equity Order Reports fee. No
substantive changes are being made by
the proposed rule change.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.8 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 9 requirements that the rules of
an exchange be 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 regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, 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 Exchange believes correcting an
inadvertent marking error from a
previous rule filing in order to
accurately reflect the Drop Copy prices
and the name of the Equity Order
Reports fee will alleviate potential
confusion, thereby removing
impediments to and perfecting the
mechanism of a free and open market
and a national market system and
protecting investors and the public
interest.
7 Id.
8 15
9 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00097
Fmt 4703
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47783
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. As discussed
above, the proposed change is merely
intended to correct an inadvertent
marking error made in a previous rule
filing, which will alleviate potential
confusion.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
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)(iii) of the Act 10 and
subparagraph (f)(6) Rule 19b–4
thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) 12 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),13 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest. The Exchange requests that the
Commission waive the 30-day operative
delay. The Exchange notes that
currently the Fees Schedule doesn’t
reflect accurate fees relating to Drop
Copy fees and the accurate name of the
Equity Order Reports fee. C2 also
explains that the proposal would allow
immediate correction of the Fees
Schedule, and could avoid potential
confusion to market participants
regarding the applicability of its fees.
The Commission believes that waiving
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange’s intent
to file the proposed rule change, along with a brief
description and 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. The Exchange
has satisfied this requirement.
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
11 17
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47784
Federal Register / Vol. 82, No. 197 / Friday, October 13, 2017 / Notices
the 30-day operative delay is consistent
with the protection of investors and the
public interest as it will allow the
Exchange to accurately represent the
fees it charges and thereby avoid
potential confusion of market
participants. Accordingly, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change operative upon
filing.14
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 will 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–
C2–2017–026 on the subject line.
asabaliauskas on DSKBBXCHB2PROD 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–C2–2017–026. 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
14 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
VerDate Sep<11>2014
18:05 Oct 12, 2017
Jkt 244001
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–C2–
2017–026 and should be submitted on
or before November 3, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–22158 Filed 10–12–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–81838; File No. SR–
NASDAQ–2017–100]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Reduce the
Fees for Certain Investment
Management Entities and Eligible
Portfolio Companies
October 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
September 26, 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, 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.
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00098
Fmt 4703
Sfmt 4703
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to reduce the
fees for certain Investment Management
Entities and Eligible Portfolio
Companies.
While these amendments are effective
upon filing, the Exchange has
designated the proposed amendments to
be operative on January 1, 2018.
The text of the proposed rule change
is set forth below. Proposed new
language is italicized; deleted text is in
brackets.
*
*
*
*
*
5910. The Nasdaq Global Market
(Including the Nasdaq Global Select
Market)
*
*
*
*
*
IM–5910–1. All-Inclusive Annual
Listing Fee
(a)–(c) No change.
(d) The All-Inclusive Annual Listing
Fee will be calculated on total shares
outstanding according to the following
schedules:
(1)–(3) No change.
(4) Limited Partnerships [(effective
January 1, 2017)]:
Up to 75 million shares $37,500
75+ to 100 million shares $50,000
100+ to 125 million shares $62,500
125+ to 150 million shares $67,500
Over 150 million shares $77,500
(5) Investment Management Entities
and Eligible Portfolio Companies
(effective January 1, 2018):
Nasdaq will apply a 50% fee discount
to the annual fee otherwise owed under
paragraph (d)(1) of this rule for Eligible
Portfolio Companies and Investment
Management Entities that have one or
more Eligible Portfolio Companies. For
purposes of this rule, an ‘‘Investment
Management Entity’’ is a company listed
on Nasdaq or another national
securities exchange that manages
private investment vehicles not
registered under the Investment
Company Act. An ‘‘Eligible Portfolio
Company’’ of an Investment
Management Entity is a Nasdaq-listed
Company in which an Investment
Management Entity has owned at least
20% of the common stock on a
continuous basis since prior to that
company’s initial listing.
In order to qualify for this discount in
any calendar year, a Company, other
than a new listing, must submit
satisfactory proof to Nasdaq no later
than December 31st of the prior year
that it satisfies the requirements
specified above. A new listing that
satisfies these requirements is eligible
for the discount upon listing.
E:\FR\FM\13OCN1.SGM
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]]>Agencies
[Federal Register Volume 82, Number 197 (Friday, October 13, 2017)]
[Notices]
[Pages 47782-47784]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-22158]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-81836; File No. SR-C2-2017-026]
Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Amend the Fees Schedule
October 6, 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 September 21, 2017, C2 Options Exchange, Incorporated (the
``Exchange'' or ``C2'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I and II, below, which Items have been prepared by the
Exchange. The Exchange filed the proposal as a ``non-controversial''
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act
\3\ and Rule 19b-4(f)(6) thereunder.\4\ 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its Fees Schedule to correct an
inadvertent marking error made to the Exhibit 5 in a previous rule
filing.
The text of the proposed rule change is also available on the
Exchange's Web site (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, 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
[[Page 47783]]
the proposed rule change and discussed any comments it received on the
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend its Fees Schedule to correct an
inadvertent marking error made to the Exhibit 5 in a previous rule
filing. Specifically, on April 13, 2017, the Exchange filed a rule
filing, SR-C2-2017-015, which proposed to eliminate certain PULSe fees,
effective April 3, 2017.\5\ The Exchange notes that it mistakenly used
outdated text contained in Section 11 of the Fees Schedule in the
Exhibit 5 of that filing. Particularly, prior to filing SR-C2-2017-015,
the Exchange had reduced the monthly fee assessed to TPHs who either
receive or send drop copies via a PULSe workstation. More specifically,
if a customer receiving drop copies is a TPH, that TPH customer (the
receiving TPH) is now charged a fee of $425 per month (down from $1000
per month), per PULSe broker from whom it receives drop copies via
PULSe. If a customer receiving drop copies is a non-TPH, the PULSe
broker (the sending TPH) who sends drop copies via PULSe to that
customer is now charged a fee of $400 per month (down from $500 per
month).\6\ The Exhibit 5 filed in SR-C2-2017-015 however, inadvertently
did not reflect the new prices that had previously been adopted for
Drop Copy fees (i.e., $425 per month and $400 per month). Rather it
listed the older prices of $1,000 per month and $500 per month,
respectively. The Exchange notes that it was not its intention to
revert back to the old pricing and that no such change was otherwise
implemented, referenced or implied in the 19b-4 of SR-C2-2017-008 or
any other filing since then. Rather it was an inadvertent mistake that
the Exchange seeks to correct.
---------------------------------------------------------------------------
\5\ The Exchange initially filed the proposed fee change on
April 3, 2017 (SR-C2-2017-012). On April 13, 2017, the Exchange
withdrew that filing and submitted SR-C2-2017-015. See Securities
Exchange Act Release No. 80473 (April 17, 2017), 82 FR 18790 (April
21, 2017) (SR-C2-2017-015).
\6\ See Securities Exchange Act Release No. 80031 (February 13,
2017), 82 FR 11087 (February 17, 2017) (SR-C2-2017-008). The
Exchange notes that in the filing that adopted the Drop Copy fees,
the appended footnote for the ``Drop Copy (received by non-TPH
customer)'' fee mistakenly referenced the fee as $1,000/month
instead of $500/month. See Securities Exchange Act Release No. 79807
(January 17, 2017), 82 FR 8238 (January 24, 2017) (SR-C2-2017-002).
---------------------------------------------------------------------------
Lastly, the Exchange notes that it had previously renamed the
``OATS Reporting'' fee to the ``Equity Order Reports'' fee.\7\ The
Exchange inadvertently did not incorporate the name change in the
Exhibit 5 of SR-C2-2017-015. The Exchange notes that it was not its
intention to revert back to the old name and that no such change was
otherwise referenced or implied in the 19b-4 of SR-C2-2017-008 or any
other filing since then.
---------------------------------------------------------------------------
\7\ Id.
---------------------------------------------------------------------------
Accordingly, the Exchange proposes to amend the Fees Schedule to
reflect the accurate prices of the Drop Copy Fees and the accurate name
of the Equity Order Reports fee. No substantive changes are being made
by the proposed rule change.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\8\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \9\ requirements that the rules of an exchange be
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 regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes correcting an inadvertent marking error from
a previous rule filing in order to accurately reflect the Drop Copy
prices and the name of the Equity Order Reports fee will alleviate
potential confusion, thereby removing impediments to and perfecting the
mechanism of a free and open market and a national market system and
protecting investors and the public interest.
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. As discussed above, the
proposed change is merely intended to correct an inadvertent marking
error made in a previous rule filing, which will alleviate potential
confusion.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange neither solicited nor received comments on the
proposed rule change.
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)(iii) of the Act \10\ and
subparagraph (f)(6) Rule 19b-4 thereunder.\11\
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\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's intent to file the proposed rule change, along with a
brief description and 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. The
Exchange has satisfied this requirement.
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A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange requests
that the Commission waive the 30-day operative delay. The Exchange
notes that currently the Fees Schedule doesn't reflect accurate fees
relating to Drop Copy fees and the accurate name of the Equity Order
Reports fee. C2 also explains that the proposal would allow immediate
correction of the Fees Schedule, and could avoid potential confusion to
market participants regarding the applicability of its fees. The
Commission believes that waiving
[[Page 47784]]
the 30-day operative delay is consistent with the protection of
investors and the public interest as it will allow the Exchange to
accurately represent the fees it charges and thereby avoid potential
confusion of market participants. Accordingly, the Commission hereby
waives the 30-day operative delay and designates the proposed rule
change operative upon filing.\14\
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\12\ 17 CFR 240.19b-4(f)(6).
\13\ 17 CFR 240.19b-4(f)(6)(iii).
\14\ 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).
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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 will 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-C2-2017-026 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-C2-2017-026. 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-C2-2017-026 and should be
submitted on or before November 3, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-22158 Filed 10-12-17; 8:45 am]
BILLING CODE 8011-01-P
