Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Introduce Bats Market Close, a Closing Match Process for Non-BZX Listed Securities Under New Exchange Rule 11.28, 55894-55895 [2017-25353]
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<![CDATA[
55894
Federal Register / Vol. 82, No. 225 / Friday, November 24, 2017 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–25357 Filed 11–22–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82108; File No. SR–
BatsBZX–2017–34]
Self-Regulatory Organizations; Bats
BZX Exchange, Inc.; Notice of
Designation of a Longer Period for
Commission Action on Proceedings To
Determine Whether To Approve or
Disapprove a Proposed Rule Change
To Introduce Bats Market Close, a
Closing Match Process for Non-BZX
Listed Securities Under New Exchange
Rule 11.28
November 17, 2017.
On May 5, 2017, Bats BZX Exchange,
Inc. (now known as Cboe BZX
Exchange, Inc.) (‘‘BZX’’ or ‘‘Exchange’’)
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 Bats Market Close, a
closing match process for non-BZX
Listed Securities. The proposed rule
change was published for comment in
the Federal Register on May 22, 2017.3
On July 3, 2017, the Commission
designated a longer period within which
to approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether the proposed rule change
should be disapproved.4 The
Commission received 54 comment
letters on the proposed rule change,
including a response from the
Exchange.5 On August 18, 2017, the
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 80683
(May 16, 2017), 82 FR 23320.
4 See Securities Exchange Act Release No. 81072,
82 FR 31792 (July 10, 2017).
5 See Letters to Brent J. Fields, Secretary,
Commission, from: (1) Donald K. Ross, Jr.,
Executive Chairman, PDQ Enterprise, LLC, dated
June 6, 2017 (‘‘PDQ Letter’’); (2) Edward S. Knight,
Executive Vice President and General Counsel,
Nasdaq, Inc., dated June 12, 2017 (‘‘Nasdaq Letter
1’’); (3) Ray Ross, Chief Technology Officer,
Clearpool Group, dated June 12, 2017 (‘‘Clearpool
Letter’’); (4) Venu Palaparthi, SVP, Compliance,
Regulatory and Government Affairs, Virtu
Financial, dated June 12, 2017 (‘‘Virtu Letter’’); (5)
Theodore R. Lazo, Managing Director and Associate
General Counsel, SIFMA, dated June 13, 2017
(‘‘SIFMA Letter 1’’); (6) Elizabeth K. King, General
sradovich on DSK3GMQ082PROD with NOTICES
1 15
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Counsel and Corporate Secretary, New York Stock
Exchange, dated June 13, 2017 (‘‘NYSE Letter 1’’);
(7) John M. Bowers, Bowers Securities, dated June
14, 2017 (‘‘Bowers Letter’’); (8) Jonathan D. Corpina,
Senior Managing Partner, Meridian Equity Partners,
dated June 16, 2017 (‘‘Meridian Letter’’); (9) Fady
Tanios, Chief Executive Officer, and Brian Fraioli,
Chief Compliance Officer, Americas Executions,
LLC, dated June 16, 2017 (‘‘Americas Executions
Letter’’); (10) Ari M. Rubenstein, Co-Founder and
Chief Executive Officer, GTS Securities LLC, dated
June 22, 2017 (‘‘GTS Securities Letter 1’’); (11) John
Ramsay, Chief Market Policy Officer, Investors
Exchange LLC, dated June 23, 2017 (‘‘IEX Letter’’);
(12) Jay S. Sidhu, Chairman, Chief Executive
Officer, Customers Bancorp, Inc., dated June 27,
2017 (‘‘Customers Bancorp Letter’’); (13) Joanne
Freiberger, Vice President, Treasurer, Masonite
International Corporation, dated June 27, 2017
(‘‘Masonite International Letter’’); (14) David B.
Griffith, Investor Relations Manager, Orion Group
Holdings, Inc., dated June 27, 2017 (‘‘Orion Group
Letter’’); (15) Kieran O’Sullivan, Chairman,
President and CEO, CTS Corporation, dated June
28, 2017 (‘‘CTS Corporation Letter’’); (16) Sherri
Brillon, Executive Vice-President and Chief
Financial Officer, Encana Corporation, dated June
29, 2017 (‘‘Encana Letter’’); (17) Steven C. Lilly,
Chief Financial Officer, Triangle Capital
Corporation, dated June 29, 2017 (‘‘Triangle Capital
Letter’’); (18) Robert F. McCadden, Executive Vice
President and Chief Financial Officer, Pennsylvania
Real Estate Investment Trust, dated June 29, 2017
(‘‘Pennsylvania REIT Letter’’); (19) Andrew Stevens,
General Counsel, IMC Financial Markets, dated
June 30, 2017 (‘‘IMC Letter’’); (20) Daniel S. Tucker,
Senior Vice President and Treasurer, Southern
Company, dated July 5, 2017 (‘‘Southern Company
Letter’’); (21) Cole Stevens, Investor Relations
Associate, Nobilis Health, dated July 6, 2017
(‘‘Nobilis Health Letter’’); (22) Mehmet Kinak, Head
of Global Equity Market Structure & Electronic
Trading, et. al., T. Rowe Price Associates, Inc.,
dated July 7, 2017 (‘‘T. Rowe Price Letter’’); (23)
David L. Dragics, Senior Vice President, Investor
Relations, CACI International Inc., dated July 7,
2017 (‘‘CACI Letter’’); (24) Mark A. Stegeman,
Senior Vice President & CFO, Turning Point Brands,
Inc., dated July 12, 2017 (‘‘Turning Point Letter’’);
(25) Jon R. Moeller, Vice Chair and Chief Financial
Officer, and Deborah J. Majoras, Chief Legal Officer
and Secretary, The Proctor & Gamble Company,
dated July 12, 2017 (‘‘P&G Letter’’); (26) Christopher
A. Iacovella, Chief Executive Officer, Equity Dealers
of America, dated July 12, 2017 (‘‘EDA Letter’’); (27)
Rob Bernshteyn, Chief Executive Officer, Chairman
Board of Directors, Coupa Software, Inc., dated July
12, 2017 (‘‘Coupa Software Letter’’); (28) Sally J.
Curley, Senior Vice President, Investor Relations,
Cardinal Health, Inc., dated July 14, 2017
(‘‘Cardinal Health Letter’’); (29) Mickey Foster, Vice
President, Investor Relations, FedEx Corporation,
dated July 14, 2017 (‘‘FedEx Letter’’); (30)
Alexander J. Matturri, CEO, S&P Dow Jones Indices,
dated July 18, 2017 (‘‘SPDJI Letter’’); (31) John L.
Killea, Chief Legal Officer, Stewart Information
Services, dated July 19, 2017 (‘‘Stewart Letter’’);
(32) M. Farooq Kathwari, Chairman, President &
CEO, Ethan Allen Interiors, Inc., dated July 24, 2017
(‘‘Ethan Allen Letter’’); (33) Jeff Green, Founder,
Chief Executive Officer and Chairman of the Board
of Directors, The Trade Desk Inc., dated July 26,
2017 (‘‘Trade Desk Letter’’); (34) James J. Angel,
Associate Professor, McDonough School of
Business, Georgetown University, dated July 30,
2017 (‘‘Angel Letter’’); (35) Jon Stonehouse, CEO,
and Tom Staab, CFO, BioCryst Pharmaceuticals,
Inc., dated July 31, 2017 (‘‘BioCryst Letter’’); (36)
Peter Campbell, Chief Financial Officer, Mimecast,
dated July 31, 2017 (‘‘Mimecast Letter’’); (37) Joanne
Moffic-Silver, Executive Vice President, General
Counsel, and Corporate Secretary, Bats Global
Markets, Inc., dated August 2, 2017 (‘‘BZX Letter
1’’); (38) David M. Weisberger, Head of Equities,
PO 00000
Frm 00096
Fmt 4703
Sfmt 4703
Commission instituted proceedings
under Section 19(b)(2)(B) of the
Exchange Act 6 to determine whether to
approve or disapprove the proposed
rule change.7 Since then, the
Commission has received four more
comment letters, including a response
from the Exchange.8
Section 19(b)(2) of the Act 9 provides
that, after initiating proceedings, the
Commission shall issue an order
approving or disapproving the proposed
rule change not later than 180 days after
the date of publication of notice of filing
of the proposed rule change. The
Commission may, however, extend the
period for issuing an order approving or
ViableMkts, dated August 3, 2017 (‘‘ViableMkts
Letter’’); (39) Charles Beck, Chief Financial Officer,
Digimarc Corporation, dated August 3, 2017
(‘‘Digimarc Letter’’); (40) Elizabeth K. King, General
Counsel and Corporate Secretary, New York Stock
Exchange, dated August 9, 2017 (‘‘NYSE Letter 2’’);
(41) Representative Sean P. Duffy and
Representative Gregory W. Meeks, dated August 9,
2017 (‘‘Duffy/Meeks Letter’’); (42) Michael J.
Chewens, Senior Executive Vice President & Chief
Financial Officer, NBT Bancorp Inc., dated August
11, 2017 (‘‘NBT Bancorp Letter’’); (43) Barry
Zwarenstein, Chief Financial Officer, Five9, Inc.,
dated August 11, 2017 (‘‘Five9 Letter’’); (44)
William A. Backus, Chief Financial Officer &
Treasurer, Balchem Corporation, dated August 15,
2017 (‘‘Balchem Letter’’); (45) Raiford Garrabrant,
Director, Investor Relations, Cree, Inc., dated
August 15, 2017 (‘‘Cree Letter’’); (46) Steven
Paladino, Executive Vice President & Chief
Financial Officer, Henry Schein, Inc., dated August
16, 2017 (‘‘Henry Schein Letter’’); (47) Theodore
Jenkins, Senior Director, Investor Relations and
Communications, Corbus Pharmaceuticals, Inc.,
dated August 17, 2017 (‘‘Corbus Letter’’); (48) Ari
M. Rubenstein, Co-Founder and Chief Executive
Officer, GTS Securities LLC, dated August 17, 2017
(‘‘GTS Securities Letter 2’’); (49) Cameron Bready,
Senior Executive VP, Chief Financial Officer, Global
Payments Inc., dated August 17, 2017 (‘‘Global
Payments Letter’’); (50) Mike Gregoire, CEO, CA
Technologies, dated August 17, 2017 (‘‘CA
Technologies Letter’’); (51) Patrick L. Donnelly,
Executive Vice President & General Counsel, Sirius
XMHoldings Inc., dated August 17, 2017 (‘‘Sirius
Letter’’); (52) Theodore R. Lazo, Managing Director
and Associate General Counsel, SIFMA, dated
August 18, 2017 (‘‘SIFMA Letter 2’’); (53) Donald
Bollerman, dated August 18, 2017 (‘‘Bollerman
Letter’’); and (54) Sarah A. O’Dowd, Senior Vice
President, Chief Legal Officer and Secretary, Lam
Research Corporation, dated August 18, 2017 (‘‘Lam
Letter’’).
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No. 81437,
82 FR 40202 (August 24, 2017).
8 See Letters to Brent J. Fields, Secretary,
Commission, from: (1) Gabrielle Rabinovitch, VP,
Investor Relations, PayPal Holdings, Inc., dated
September 12, 2017 (‘‘PayPal Letter’’); (2) Edward
S. Knight, Executive Vice President and General
Counsel, Nasdaq, Inc., dated September 18, 2017
(‘‘Nasdaq Letter 2’’); (3) Joanne Moffic-Silver,
Executive Vice President, General Counsel, and
Corporate Secretary, Bats Global Markets, Inc.,
dated October 11, 2017 (‘‘BZX Letter 2’’); and (4)
Elizabeth K. King, General Counsel and Corporate
Secretary, New York Stock Exchange, dated
November 3, 2017 (‘‘NYSE Letter 3’’). All comments
on the proposed rule change are available at:
https://www.sec.gov/comments/sr-batsbzx-2017-34/
batsbzx201734.htm.
9 15 U.S.C. 78s(b)(2).
E:\FR\FM\24NON1.SGM
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Federal Register / Vol. 82, No. 225 / Friday, November 24, 2017 / Notices
disapproving the proposed rule change
by not more than 60 days if the
Commission determines that a longer
period is appropriate and publishes the
reasons for such determination. The
proposed rule change was published for
notice and comment in the Federal
Register on May 22, 2017. November 18,
2017 is 180 days from that date, and
January 17, 2018 is 240 days from that
date.
The Commission finds it appropriate
to designate a longer period within
which to issue an order approving or
disapproving the proposed rule change
so that it has sufficient time to consider
this proposed rule change, the issues
raised in the comment letters that have
been submitted in connection therewith,
and the Exchange’s responses to the
comments. The Commission also notes
that any data received, or analyses or
studies received by the Commission or
performed by Commission staff, will be
posted on the Commission’s Internet
Web site at https://www.sec.gov/
comments/sr-batsbzx-2017-34/batsbzx
201734.htm. Accordingly, the
Commission, pursuant to Section
19(b)(2) of the Act,10 designates January
17, 2018, as the date by which the
Commission should either approve or
disapprove the proposed rule change
(File No. SR–BatsBZX–2017–34).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–25353 Filed 11–22–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82112; File No. SR–BOX–
2017–33]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing of Proposed Rule Change To
Amend the Minimum Order Size for the
Floor Broker Guarantee Provided in
Rule 7600(f)
sradovich on DSK3GMQ082PROD with NOTICES
November 17, 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 November
6, 2017, BOX Options Exchange LLC
(‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
10 Id.
11 17
CFR 200.30–3(a)(57).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
18:19 Nov 22, 2017
Jkt 244001
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. 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
Rule 7600 to amend the minimum order
size for the Floor Broker guarantee
provided in Rule 7600(f). The text of the
proposed rule change is available from
the principal office of the Exchange, at
the Commission’s Public Reference
Room and also on the Exchange’s
Internet Web site at https://
boxexchange.com.
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
self-regulatory organization 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 self-regulatory organization 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
Rule 7600(f). Specifically, the Exchange
is proposing to amend the minimum
order size for the Floor Broker guarantee
provided in Rule 7600(f).
Currently, on the Trading Floor, when
a Floor Broker holds an order of the
eligible order size or greater, the Floor
Broker is entitled to cross a certain
percentage of the order with other
orders that he is holding. The Exchange
may determine, on an option by option
basis, the eligible size for an order that
may be transacted pursuant to Rule
7600(f); however, the eligible order size
may not be less than 500 contracts. The
percentage of the order which a Floor
Broker is entitled to cross, after all equal
or better priced Public Customer bids or
offers on the BOX Book and any nonPublic Customer bids or offers that are
ranked ahead of such Public Customer
bids or offers are filled, is 40% of the
remaining contracts in the order.
The Exchange is now proposing to
decrease the required minimum eligible
PO 00000
Frm 00097
Fmt 4703
Sfmt 4703
55895
order size for the Floor Broker guarantee
from 500 contracts to 50 contracts.3 The
proposed change would align the
eligible order size with that of another
exchange.4 The Exchange notes that it
may still determine the eligible order
size, provided that it is at least 50
contracts. Changes to the eligible order
size will be communicated to
Participants via Regulatory Circular
pursuant to BOX Rule 7600(f)(2).
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 5 in general, and furthers the
objectives of Section 6(b)(5) of the Act 6
in particular, in that it is designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general to protect
investors and the public interest.
Specifically, the Exchange believes that
the proposed change offers Floor
Brokers a greater incentive to execute
transactions on the BOX Trading Floor.
Further, the Exchange believes that the
proposed change is appropriate as a
similar minimum eligible order size is
present at another options exchange
with a trading floor. Further, the
Exchange believes that the proposed
change will benefit market participants
as the decreased minimum eligible
order size may result in more
transactions on the exchange.
In addition, the proposed rule change
would promote a free and open market
by permitting the Exchange to compete
with other options exchanges. In this
regard, competition would result in
benefits to the investing public. As
noted above, the proposed change
would align the eligible order size with
the rules of another options exchange
with an open outcry trading floor.7 As
such, permitting the Exchange to
operate on an even playing field relative
to other exchanges removes
impediments to and perfects the
mechanism for a free and open market
and a national market system.
3 The Exchange notes that Participants have
requested this change. The Exchange believes that
the proposed change will result in more
transactions on the BOX Trading Floor.
4 See CBOE Rule 6.74(d). The Exchange notes that
CBOE Rule 6.74(d) also refers to facilitation and
solicitation orders. The Exchange does not currently
differentiate between facilitated orders or solicited
orders on the BOX Trading Floor.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
7 See CBOE Rule 6.74(d).
E:\FR\FM\24NON1.SGM
24NON1
]]>Agencies
[Federal Register Volume 82, Number 225 (Friday, November 24, 2017)]
[Notices]
[Pages 55894-55895]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-25353]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82108; File No. SR-BatsBZX-2017-34]
Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of
Designation of a Longer Period for Commission Action on Proceedings To
Determine Whether To Approve or Disapprove a Proposed Rule Change To
Introduce Bats Market Close, a Closing Match Process for Non-BZX Listed
Securities Under New Exchange Rule 11.28
November 17, 2017.
On May 5, 2017, Bats BZX Exchange, Inc. (now known as Cboe BZX
Exchange, Inc.) (``BZX'' or ``Exchange'') 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 Bats Market Close, a
closing match process for non-BZX Listed Securities. The proposed rule
change was published for comment in the Federal Register on May 22,
2017.\3\ On July 3, 2017, the Commission designated a longer period
within which to approve the proposed rule change, disapprove the
proposed rule change, or institute proceedings to determine whether the
proposed rule change should be disapproved.\4\ The Commission received
54 comment letters on the proposed rule change, including a response
from the Exchange.\5\ On August 18, 2017, the Commission instituted
proceedings under Section 19(b)(2)(B) of the Exchange Act \6\ to
determine whether to approve or disapprove the proposed rule change.\7\
Since then, the Commission has received four more comment letters,
including a response from the Exchange.\8\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 80683 (May 16,
2017), 82 FR 23320.
\4\ See Securities Exchange Act Release No. 81072, 82 FR 31792
(July 10, 2017).
\5\ See Letters to Brent J. Fields, Secretary, Commission, from:
(1) Donald K. Ross, Jr., Executive Chairman, PDQ Enterprise, LLC,
dated June 6, 2017 (``PDQ Letter''); (2) Edward S. Knight, Executive
Vice President and General Counsel, Nasdaq, Inc., dated June 12,
2017 (``Nasdaq Letter 1''); (3) Ray Ross, Chief Technology Officer,
Clearpool Group, dated June 12, 2017 (``Clearpool Letter''); (4)
Venu Palaparthi, SVP, Compliance, Regulatory and Government Affairs,
Virtu Financial, dated June 12, 2017 (``Virtu Letter''); (5)
Theodore R. Lazo, Managing Director and Associate General Counsel,
SIFMA, dated June 13, 2017 (``SIFMA Letter 1''); (6) Elizabeth K.
King, General Counsel and Corporate Secretary, New York Stock
Exchange, dated June 13, 2017 (``NYSE Letter 1''); (7) John M.
Bowers, Bowers Securities, dated June 14, 2017 (``Bowers Letter'');
(8) Jonathan D. Corpina, Senior Managing Partner, Meridian Equity
Partners, dated June 16, 2017 (``Meridian Letter''); (9) Fady
Tanios, Chief Executive Officer, and Brian Fraioli, Chief Compliance
Officer, Americas Executions, LLC, dated June 16, 2017 (``Americas
Executions Letter''); (10) Ari M. Rubenstein, Co-Founder and Chief
Executive Officer, GTS Securities LLC, dated June 22, 2017 (``GTS
Securities Letter 1''); (11) John Ramsay, Chief Market Policy
Officer, Investors Exchange LLC, dated June 23, 2017 (``IEX
Letter''); (12) Jay S. Sidhu, Chairman, Chief Executive Officer,
Customers Bancorp, Inc., dated June 27, 2017 (``Customers Bancorp
Letter''); (13) Joanne Freiberger, Vice President, Treasurer,
Masonite International Corporation, dated June 27, 2017 (``Masonite
International Letter''); (14) David B. Griffith, Investor Relations
Manager, Orion Group Holdings, Inc., dated June 27, 2017 (``Orion
Group Letter''); (15) Kieran O'Sullivan, Chairman, President and
CEO, CTS Corporation, dated June 28, 2017 (``CTS Corporation
Letter''); (16) Sherri Brillon, Executive Vice-President and Chief
Financial Officer, Encana Corporation, dated June 29, 2017 (``Encana
Letter''); (17) Steven C. Lilly, Chief Financial Officer, Triangle
Capital Corporation, dated June 29, 2017 (``Triangle Capital
Letter''); (18) Robert F. McCadden, Executive Vice President and
Chief Financial Officer, Pennsylvania Real Estate Investment Trust,
dated June 29, 2017 (``Pennsylvania REIT Letter''); (19) Andrew
Stevens, General Counsel, IMC Financial Markets, dated June 30, 2017
(``IMC Letter''); (20) Daniel S. Tucker, Senior Vice President and
Treasurer, Southern Company, dated July 5, 2017 (``Southern Company
Letter''); (21) Cole Stevens, Investor Relations Associate, Nobilis
Health, dated July 6, 2017 (``Nobilis Health Letter''); (22) Mehmet
Kinak, Head of Global Equity Market Structure & Electronic Trading,
et. al., T. Rowe Price Associates, Inc., dated July 7, 2017 (``T.
Rowe Price Letter''); (23) David L. Dragics, Senior Vice President,
Investor Relations, CACI International Inc., dated July 7, 2017
(``CACI Letter''); (24) Mark A. Stegeman, Senior Vice President &
CFO, Turning Point Brands, Inc., dated July 12, 2017 (``Turning
Point Letter''); (25) Jon R. Moeller, Vice Chair and Chief Financial
Officer, and Deborah J. Majoras, Chief Legal Officer and Secretary,
The Proctor & Gamble Company, dated July 12, 2017 (``P&G Letter'');
(26) Christopher A. Iacovella, Chief Executive Officer, Equity
Dealers of America, dated July 12, 2017 (``EDA Letter''); (27) Rob
Bernshteyn, Chief Executive Officer, Chairman Board of Directors,
Coupa Software, Inc., dated July 12, 2017 (``Coupa Software
Letter''); (28) Sally J. Curley, Senior Vice President, Investor
Relations, Cardinal Health, Inc., dated July 14, 2017 (``Cardinal
Health Letter''); (29) Mickey Foster, Vice President, Investor
Relations, FedEx Corporation, dated July 14, 2017 (``FedEx
Letter''); (30) Alexander J. Matturri, CEO, S&P Dow Jones Indices,
dated July 18, 2017 (``SPDJI Letter''); (31) John L. Killea, Chief
Legal Officer, Stewart Information Services, dated July 19, 2017
(``Stewart Letter''); (32) M. Farooq Kathwari, Chairman, President &
CEO, Ethan Allen Interiors, Inc., dated July 24, 2017 (``Ethan Allen
Letter''); (33) Jeff Green, Founder, Chief Executive Officer and
Chairman of the Board of Directors, The Trade Desk Inc., dated July
26, 2017 (``Trade Desk Letter''); (34) James J. Angel, Associate
Professor, McDonough School of Business, Georgetown University,
dated July 30, 2017 (``Angel Letter''); (35) Jon Stonehouse, CEO,
and Tom Staab, CFO, BioCryst Pharmaceuticals, Inc., dated July 31,
2017 (``BioCryst Letter''); (36) Peter Campbell, Chief Financial
Officer, Mimecast, dated July 31, 2017 (``Mimecast Letter''); (37)
Joanne Moffic-Silver, Executive Vice President, General Counsel, and
Corporate Secretary, Bats Global Markets, Inc., dated August 2, 2017
(``BZX Letter 1''); (38) David M. Weisberger, Head of Equities,
ViableMkts, dated August 3, 2017 (``ViableMkts Letter''); (39)
Charles Beck, Chief Financial Officer, Digimarc Corporation, dated
August 3, 2017 (``Digimarc Letter''); (40) Elizabeth K. King,
General Counsel and Corporate Secretary, New York Stock Exchange,
dated August 9, 2017 (``NYSE Letter 2''); (41) Representative Sean
P. Duffy and Representative Gregory W. Meeks, dated August 9, 2017
(``Duffy/Meeks Letter''); (42) Michael J. Chewens, Senior Executive
Vice President & Chief Financial Officer, NBT Bancorp Inc., dated
August 11, 2017 (``NBT Bancorp Letter''); (43) Barry Zwarenstein,
Chief Financial Officer, Five9, Inc., dated August 11, 2017 (``Five9
Letter''); (44) William A. Backus, Chief Financial Officer &
Treasurer, Balchem Corporation, dated August 15, 2017 (``Balchem
Letter''); (45) Raiford Garrabrant, Director, Investor Relations,
Cree, Inc., dated August 15, 2017 (``Cree Letter''); (46) Steven
Paladino, Executive Vice President & Chief Financial Officer, Henry
Schein, Inc., dated August 16, 2017 (``Henry Schein Letter''); (47)
Theodore Jenkins, Senior Director, Investor Relations and
Communications, Corbus Pharmaceuticals, Inc., dated August 17, 2017
(``Corbus Letter''); (48) Ari M. Rubenstein, Co-Founder and Chief
Executive Officer, GTS Securities LLC, dated August 17, 2017 (``GTS
Securities Letter 2''); (49) Cameron Bready, Senior Executive VP,
Chief Financial Officer, Global Payments Inc., dated August 17, 2017
(``Global Payments Letter''); (50) Mike Gregoire, CEO, CA
Technologies, dated August 17, 2017 (``CA Technologies Letter'');
(51) Patrick L. Donnelly, Executive Vice President & General
Counsel, Sirius XMHoldings Inc., dated August 17, 2017 (``Sirius
Letter''); (52) Theodore R. Lazo, Managing Director and Associate
General Counsel, SIFMA, dated August 18, 2017 (``SIFMA Letter 2'');
(53) Donald Bollerman, dated August 18, 2017 (``Bollerman Letter'');
and (54) Sarah A. O'Dowd, Senior Vice President, Chief Legal Officer
and Secretary, Lam Research Corporation, dated August 18, 2017
(``Lam Letter'').
\6\ 15 U.S.C. 78s(b)(2)(B).
\7\ See Securities Exchange Act Release No. 81437, 82 FR 40202
(August 24, 2017).
\8\ See Letters to Brent J. Fields, Secretary, Commission, from:
(1) Gabrielle Rabinovitch, VP, Investor Relations, PayPal Holdings,
Inc., dated September 12, 2017 (``PayPal Letter''); (2) Edward S.
Knight, Executive Vice President and General Counsel, Nasdaq, Inc.,
dated September 18, 2017 (``Nasdaq Letter 2''); (3) Joanne Moffic-
Silver, Executive Vice President, General Counsel, and Corporate
Secretary, Bats Global Markets, Inc., dated October 11, 2017 (``BZX
Letter 2''); and (4) Elizabeth K. King, General Counsel and
Corporate Secretary, New York Stock Exchange, dated November 3, 2017
(``NYSE Letter 3''). All comments on the proposed rule change are
available at: https://www.sec.gov/comments/sr-batsbzx-2017-34/batsbzx201734.htm.
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Section 19(b)(2) of the Act \9\ provides that, after initiating
proceedings, the Commission shall issue an order approving or
disapproving the proposed rule change not later than 180 days after the
date of publication of notice of filing of the proposed rule change.
The Commission may, however, extend the period for issuing an order
approving or
[[Page 55895]]
disapproving the proposed rule change by not more than 60 days if the
Commission determines that a longer period is appropriate and publishes
the reasons for such determination. The proposed rule change was
published for notice and comment in the Federal Register on May 22,
2017. November 18, 2017 is 180 days from that date, and January 17,
2018 is 240 days from that date.
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\9\ 15 U.S.C. 78s(b)(2).
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The Commission finds it appropriate to designate a longer period
within which to issue an order approving or disapproving the proposed
rule change so that it has sufficient time to consider this proposed
rule change, the issues raised in the comment letters that have been
submitted in connection therewith, and the Exchange's responses to the
comments. The Commission also notes that any data received, or analyses
or studies received by the Commission or performed by Commission staff,
will be posted on the Commission's Internet Web site at https://www.sec.gov/comments/sr-batsbzx-2017-34/batsbzx201734.htm. Accordingly,
the Commission, pursuant to Section 19(b)(2) of the Act,\10\ designates
January 17, 2018, as the date by which the Commission should either
approve or disapprove the proposed rule change (File No. SR-BatsBZX-
2017-34).
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\10\ Id.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(57).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-25353 Filed 11-22-17; 8:45 am]
BILLING CODE 8011-01-P
