Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule, 51897-51899 [2017-24252]

Download as PDF Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Notices their purchases of other products sold by the Exchange. For all of the reasons set forth above, the Exchange does not believe that the proposed rule changes will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. 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.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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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: ethrower on DSK3G9T082PROD with NOTICES 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–2017–113 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–NASDAQ–2017–113. 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NASDAQ–2017–113 and should be submitted on or before November 29, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–24254 Filed 11–7–17; 8:45 am] BILLING CODE 8011–01–P U.S.C. 78s(b)(3)(A)(ii). VerDate Sep<11>2014 17:26 Nov 07, 2017 Jkt 244001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81998; File No. SR–MIAX– 2017–45] Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule November 2, 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 October 30, 2017, Miami International Securities Exchange LLC (‘‘MIAX Options’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The 18 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. PO 00000 Frm 00097 Fmt 4703 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 the MIAX Options Fee Schedule (the ‘‘Fee Schedule’’). The text of the proposed rule change is available on the Exchange’s Web site at https://www.miaxoptions.com/rulefilings, at MIAX’s principal office, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose 1 15 17 15 51897 Sfmt 4703 The Exchange proposes to amend the list of MIAX Select Symbols 3 contained in the Priority Customer Rebate Program (the ‘‘Program’’) 4 of the Exchange’s Fee Schedule to 1. delete the symbol ‘‘SUNE’’ associated with SunEdison, Inc. (‘‘SunEdison’’) and 2. replace the symbol ‘‘BBRY’’ with ‘‘BB’’ associated with BlackBerry Limited (‘‘BlackBerry’’). The Exchange initially created the list of MIAX Select Symbols on March 1, 2014,5 and has added and removed option classes from that list since that 3 The term ‘‘MIAX Select Symbols’’ means options overlying AAL, AAPL, AIG, AMAT, AMD, AMZN, BA, BABA, BBRY, BIDU, BP, C, CAT, CBS, CELG, CLF, CVX, DAL, EBAY, EEM, FB, FCX, GE, GILD, GLD, GM, GOOGL, GPRO, HAL, HTZ, INTC, IWM, JCP, JNJ, JPM, KMI, KO, MO, MRK, NFLX, NOK, NQ, ORCL, PBR, PFE, PG, QCOM, QQQ, RIG, S, SPY, SUNE, T, TSLA, USO, VALE, VXX, WBA, WFC, WMB, WY, X, XHB, XLE, XLF, XLP, XOM, and XOP. 4 See section 1)a)iii) of the Fee Schedule for a complete description of the Program. 5 See Securities Exchange Act Release No. 71700 (March 12, 2014), 79 FR 15188 (March 18, 2014) (SR–MIAX–2014–13). E:\FR\FM\08NON1.SGM 08NON1 51898 Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Notices time.6 On April 26, 2016, the New York Stock Exchange announced that it was delisting SunEdison since it was no longer suitable for listing. SunEdison had announced on the same day that it and certain of its domestic and international subsidiaries had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.7 As a result, the Exchange delisted SunEdison options. Accordingly, the Exchange is amending its Fee Schedule to delete the symbol SUNE from the list of MIAX Select Symbols contained in the Program to correspond with the delisting. This amendment is intended to eliminate any potential confusion and to make it clear to market participants that SunEdison will not be a MIAX Select Symbol contained in the Program as SunEdison options are no longer listed on the Exchange. BlackBerry recently announced that it was transferring its listing from the Nasdaq Global Select Market to the New York Stock Exchange and, as a result, BlackBerry changed its symbol from ‘‘BBRY’’ and is now trading under the new symbol ‘‘BB’’ effective October 16, 2017.8 The Exchange is amending its Fee Schedule to change BlackBerry’s symbol in the MIAX Select Symbols from ‘‘BBRY’’ to ‘‘BB’’ to correspond with this change. This amendment is designed to ensure that there is no confusion amongst market participants that BlackBerry, under its new ticker, will continue to remain in the MIAX Selected Symbols. ethrower on DSK3G9T082PROD with NOTICES 2. Statutory Basis The Exchange believes that its proposal to amend its fee schedule is consistent with Section 6(b) of the Act 9 in general, and furthers the objectives of Section 6(b)(4) of the Act,10 in that it is an equitable allocation of reasonable fees and other charges among Exchange members and other persons using its 6 See Securities Exchange Act Release Nos. 8109 (June 26, 2017), 82 FR 29962 (June 30, 2017) (SR– MIAX–2017–29); 79301 (November 14, 2016), 81 FR 81854 (November 18, 2016) (SR–MIAX–2016–42); 74291(February 18, 2015), 80 FR 9841 (February 24, 2015) (SR–MIAX–2015–09); 74288 (February 18, 2015), 80 FR 9837 (February 24, 2015) (SR–MIAX– 2015–08); 73328 (October 9, 2014), 79 FR 62230 (October 16, 2014) (SR–MIAX–2014–50); 72567 (July 8, 2014), 79 FR 40818 (July 14, 2014) (SR– MIAX–2014–34); 72356 (June 10, 2014), 79 FR 34384 (June 16, 2014) (SR–MIAX–2014–26); 71700 (March 12, 2014), 79 FR 15188 (March 18, 2014) (SR–MIAX–2014–13). 7 See the press release located at https:// ir.theice.com/press/press-releases/nyse-regulation/ 2016/042116suspensionrelease. 8 See the press release located at https:// us.blackberry.com/company/newsroom/ press?id=21b4315. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(4). VerDate Sep<11>2014 17:26 Nov 07, 2017 Jkt 244001 facilities, and 6(b)(5) of the Act,11 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. In particular, the proposal to delete the symbol SUNE from the list of MIAX Select Symbols contained in the Program and to change the symbol from BBRY to BB is consistent with Section 6(b)(4) of the Act because the proposed changes will allow for continued benefit to investors by providing them an updated list of MIAX Select Symbols contained in the Program on the Fee Schedule. In particular, the proposal to change the BlackBerry symbol to its new designation is consistent with the Act because the proposed change is merely updating the corresponding symbol to allow for BlackBerry to continue to remain in the MIAX Select Symbols. The Exchange believes that the proposal to amend an option class that qualifies for the credit for transactions in MIAX Select Symbols is fair, equitable and not unreasonably discriminatory. The Exchange believes that the Program itself is reasonably designed because it incentivizes providers of Priority Customer 12 order flow to send that Priority Customer order flow to the Exchange in order to receive a credit in a manner that enables the Exchange to improve its overall competitiveness and strengthen its market quality for all market participants. The Program, which provides increased incentives in certain tiers in high volume select symbols, is also reasonably designed to increase the competitiveness of the Exchange with other options exchanges that also offer increased incentives to higher volume symbols. The Exchange also believes that its proposal is consistent with Section 6(b)(5) of the Act because it will apply equally to all Priority Customer orders in MIAX Select Symbols in the Program. All similarly situated Priority Customer orders in MIAX Select Symbols are subject to the same rebate schedule, and access to the Exchange is offered on 11 15 U.S.C. 78f(b)(1) and (b)(5). term ‘‘Priority Customer’’ means a person or entity that 1. is not a broker or dealer in securities, and 2. does not place more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s). See Exchange Rule 100. 12 The PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 terms that are not unfairly discriminatory. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is a not a competitive filing but rather is designed to update the list of MIAX Select Symbols contained in the Program in order to avoid potential confusion on the part of market participants. 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 The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act,13 and Rule 19b–4(f)(2) 14 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– MIAX–2017–45 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. 13 15 14 17 E:\FR\FM\08NON1.SGM U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 08NON1 Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Notices All submissions should refer to File Number SR–MIAX–2017–45. 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–MIAX–2017–45 and should be submitted on or before November 29, 2017. notice is hereby given that on October 26, 2017, Nasdaq PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, 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. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Eduardo A. Aleman, Assistant Secretary. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2017–24252 Filed 11–7–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–81999; File No. SR–Phlx– 2017–85] ethrower on DSK3G9T082PROD with NOTICES Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Price Improvement XL Auction November 2, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 15 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 VerDate Sep<11>2014 17:26 Nov 07, 2017 Jkt 244001 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 1080(n) related to Phlx’s Price Improvement XL (‘‘PIXL’’) auction. The text of the proposed rule change is available on the Exchange’s Web site at https://nasdaqphlx.cchwallstreet.com/ , at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 1. Purpose The Exchange proposes to amend the PIXL rule at 1080(n) to: 1. Include a surrender provision; 2. update a reference to the NBBO to provide specificity to the rule; and 3. correct a typographical error, update a crossreference and relocate rule text. Surrender The Exchange proposes to adopt a surrender provision within Rule 1080(n) for its PIXL auction similar to the surrender provision that is applicable to Nasdaq BX, Inc.’s (‘‘BX’’) surrender provision in the BX price improvement auction (‘‘PRISM’’) at Chapter VI, Section 9. Current PIXL By way of background, today, only one PIXL Auction may be conducted at a time in any given series. Once PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 51899 commenced, an Auction may not be cancelled and would proceed as described herein. To initiate the Auction, the Initiating Member must mark the PIXL Order for Auction processing, and specify either: (a) A single price at which it seeks to execute the PIXL Order (a ‘‘stop price’’); (b) that it is willing to automatically match as principal or as agent on behalf of an Initiating Order the price and size of all PIXL Auction Notifications (‘‘PAN’’) responses, and trading interest (‘‘automatch’’) in which case the PIXL Order will be stopped at the better of the NBBO or the Reference BBO 3 on the Initiating Order side; 4 or (c) that it is willing to either: (i) Stop the entire order at a single stop price and automatch PAN responses and trading interest at a price or prices that improve the stop price to a specified price (a ‘‘No Worse Than’’ or ‘‘NWT’’ price); (ii) stop the entire order at a single stop price and auto-match all PAN responses and trading interest at or better than the stop price; or (iii) stop the entire order at the better of the NBBO or Reference BBO on the Initiating Order side, and automatch PAN responses and trading interest at a price or prices that improve the stop price up to the NWT price. In all cases, if the PBBO on the same side of the market as the PIXL Order represents a limit order on the book, the stop price must be at least one minimum price improvement increment better than the booked limit order’s limit price. Once the Initiating Member has submitted a PIXL Order for processing as described herein, such PIXL Order may not be modified or cancelled.5 Proposed PIXL Amendment At this time, the Exchange proposes to add a paragraph to Rule 1080(n)(ii)(A)(1) stating that, when starting an Auction, the Initiating Member may submit the Initiating Order with a designation of ‘‘surrender’’ to other PIXL participants (‘‘Surrender’’), which will result in the Initiating Member forfeiting priority and trade allocation privileges which he or she is otherwise entitled to as per subsection 3 The Reference BBO shall mean the internal best bid and offer on Phlx. 4 This is accomplished by marking the Initiating Order with a market price. 5 Under no circumstances will the Initiating Member receive an allocation percentage, at the final price point, of more than 50% with one competing quote, order or PAN response or 40% with multiple competing quotes, orders or PAN responses when competing quotes, orders or PAN responses have contracts available for execution. E:\FR\FM\08NON1.SGM 08NON1

Agencies

[Federal Register Volume 82, Number 215 (Wednesday, November 8, 2017)]
[Notices]
[Pages 51897-51899]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-24252]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-81998; File No. SR-MIAX-2017-45]


Self-Regulatory Organizations; Miami International Securities 
Exchange LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend Its Fee Schedule

November 2, 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 October 30, 2017, Miami International Securities Exchange LLC 
(``MIAX Options'' or ``Exchange'') filed with the Securities and 
Exchange Commission (``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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is filing a proposal to amend the MIAX Options Fee 
Schedule (the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's 
Web site at https://www.miaxoptions.com/rule-filings, at MIAX's 
principal office, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend the list of MIAX Select Symbols \3\ 
contained in the Priority Customer Rebate Program (the ``Program'') \4\ 
of the Exchange's Fee Schedule to 1. delete the symbol ``SUNE'' 
associated with SunEdison, Inc. (``SunEdison'') and 2. replace the 
symbol ``BBRY'' with ``BB'' associated with BlackBerry Limited 
(``BlackBerry'').
---------------------------------------------------------------------------

    \3\ The term ``MIAX Select Symbols'' means options overlying 
AAL, AAPL, AIG, AMAT, AMD, AMZN, BA, BABA, BBRY, BIDU, BP, C, CAT, 
CBS, CELG, CLF, CVX, DAL, EBAY, EEM, FB, FCX, GE, GILD, GLD, GM, 
GOOGL, GPRO, HAL, HTZ, INTC, IWM, JCP, JNJ, JPM, KMI, KO, MO, MRK, 
NFLX, NOK, NQ, ORCL, PBR, PFE, PG, QCOM, QQQ, RIG, S, SPY, SUNE, T, 
TSLA, USO, VALE, VXX, WBA, WFC, WMB, WY, X, XHB, XLE, XLF, XLP, XOM, 
and XOP.
    \4\ See section 1)a)iii) of the Fee Schedule for a complete 
description of the Program.
---------------------------------------------------------------------------

    The Exchange initially created the list of MIAX Select Symbols on 
March 1, 2014,\5\ and has added and removed option classes from that 
list since that

[[Page 51898]]

time.\6\ On April 26, 2016, the New York Stock Exchange announced that 
it was delisting SunEdison since it was no longer suitable for listing. 
SunEdison had announced on the same day that it and certain of its 
domestic and international subsidiaries had filed voluntary petitions 
for reorganization under Chapter 11 of the U.S. Bankruptcy Code.\7\
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    \5\ See Securities Exchange Act Release No. 71700 (March 12, 
2014), 79 FR 15188 (March 18, 2014) (SR-MIAX-2014-13).
    \6\ See Securities Exchange Act Release Nos. 8109 (June 26, 
2017), 82 FR 29962 (June 30, 2017) (SR-MIAX-2017-29); 79301 
(November 14, 2016), 81 FR 81854 (November 18, 2016) (SR-MIAX-2016-
42); 74291(February 18, 2015), 80 FR 9841 (February 24, 2015) (SR-
MIAX-2015-09); 74288 (February 18, 2015), 80 FR 9837 (February 24, 
2015) (SR-MIAX-2015-08); 73328 (October 9, 2014), 79 FR 62230 
(October 16, 2014) (SR-MIAX-2014-50); 72567 (July 8, 2014), 79 FR 
40818 (July 14, 2014) (SR-MIAX-2014-34); 72356 (June 10, 2014), 79 
FR 34384 (June 16, 2014) (SR-MIAX-2014-26); 71700 (March 12, 2014), 
79 FR 15188 (March 18, 2014) (SR-MIAX-2014-13).
    \7\ See the press release located at https://ir.theice.com/press/press-releases/nyse-regulation/2016/042116suspensionrelease.
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    As a result, the Exchange delisted SunEdison options. Accordingly, 
the Exchange is amending its Fee Schedule to delete the symbol SUNE 
from the list of MIAX Select Symbols contained in the Program to 
correspond with the delisting. This amendment is intended to eliminate 
any potential confusion and to make it clear to market participants 
that SunEdison will not be a MIAX Select Symbol contained in the 
Program as SunEdison options are no longer listed on the Exchange.
    BlackBerry recently announced that it was transferring its listing 
from the Nasdaq Global Select Market to the New York Stock Exchange 
and, as a result, BlackBerry changed its symbol from ``BBRY'' and is 
now trading under the new symbol ``BB'' effective October 16, 2017.\8\ 
The Exchange is amending its Fee Schedule to change BlackBerry's symbol 
in the MIAX Select Symbols from ``BBRY'' to ``BB'' to correspond with 
this change. This amendment is designed to ensure that there is no 
confusion amongst market participants that BlackBerry, under its new 
ticker, will continue to remain in the MIAX Selected Symbols.
---------------------------------------------------------------------------

    \8\ See the press release located at https://us.blackberry.com/company/newsroom/press?id=21b4315.
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2. Statutory Basis
    The Exchange believes that its proposal to amend its fee schedule 
is consistent with Section 6(b) of the Act \9\ in general, and furthers 
the objectives of Section 6(b)(4) of the Act,\10\ in that it is an 
equitable allocation of reasonable fees and other charges among 
Exchange members and other persons using its facilities, and 6(b)(5) of 
the Act,\11\ 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.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
    \11\ 15 U.S.C. 78f(b)(1) and (b)(5).
---------------------------------------------------------------------------

    In particular, the proposal to delete the symbol SUNE from the list 
of MIAX Select Symbols contained in the Program and to change the 
symbol from BBRY to BB is consistent with Section 6(b)(4) of the Act 
because the proposed changes will allow for continued benefit to 
investors by providing them an updated list of MIAX Select Symbols 
contained in the Program on the Fee Schedule. In particular, the 
proposal to change the BlackBerry symbol to its new designation is 
consistent with the Act because the proposed change is merely updating 
the corresponding symbol to allow for BlackBerry to continue to remain 
in the MIAX Select Symbols.
    The Exchange believes that the proposal to amend an option class 
that qualifies for the credit for transactions in MIAX Select Symbols 
is fair, equitable and not unreasonably discriminatory. The Exchange 
believes that the Program itself is reasonably designed because it 
incentivizes providers of Priority Customer \12\ order flow to send 
that Priority Customer order flow to the Exchange in order to receive a 
credit in a manner that enables the Exchange to improve its overall 
competitiveness and strengthen its market quality for all market 
participants. The Program, which provides increased incentives in 
certain tiers in high volume select symbols, is also reasonably 
designed to increase the competitiveness of the Exchange with other 
options exchanges that also offer increased incentives to higher volume 
symbols.
---------------------------------------------------------------------------

    \12\ The term ``Priority Customer'' means a person or entity 
that 1. is not a broker or dealer in securities, and 2. does not 
place more than 390 orders in listed options per day on average 
during a calendar month for its own beneficial account(s). See 
Exchange Rule 100.
---------------------------------------------------------------------------

    The Exchange also believes that its proposal is consistent with 
Section 6(b)(5) of the Act because it will apply equally to all 
Priority Customer orders in MIAX Select Symbols in the Program. All 
similarly situated Priority Customer orders in MIAX Select Symbols are 
subject to the same rebate schedule, and access to the Exchange is 
offered on terms that are not unfairly discriminatory.

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

    The Exchange does not believe that the proposed rule change will 
result in any burden on competition that is not necessary or 
appropriate in furtherance of the purposes of the Act. The proposed 
rule change is a not a competitive filing but rather is designed to 
update the list of MIAX Select Symbols contained in the Program in 
order to avoid potential confusion on the part of market participants.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act,\13\ and Rule 19b-4(f)(2) \14\ 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.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \14\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-MIAX-2017-45 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.


[[Page 51899]]


All submissions should refer to File Number SR-MIAX-2017-45. 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. Persons submitting 
comments are cautioned that we do not redact or edit personal 
identifying information from comment submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number SR-MIAX-2017-45 and should be 
submitted on or before November 29, 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. 2017-24252 Filed 11-7-17; 8:45 am]
 BILLING CODE 8011-01-P
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