Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Shell Structure for the BX Rulebook, 57492-57494 [2017-26128]
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57492
Federal Register / Vol. 82, No. 232 / Tuesday, December 5, 2017 / Notices
concern market dominant product(s),
applicable statutory and regulatory
requirements include 39 U.S.C. 3622, 39
U.S.C. 3642, 39 CFR part 3010, and 39
CFR part 3020, subpart B. For request(s)
that the Postal Service states concern
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
II. Docketed Proceeding(s)
1. Docket No(s).: MC2018–36 and
CP2018–66; Filing Title: USPS Request
to Add Priority Mail Contract 379 to
Competitive Product List and Notice of
Filing Materials Under Seal; Filing
Acceptance Date: November 29, 2017;
Filing Authority: 39 U.S.C. 3642 and 39
CFR 3020.30 et seq.; Public
Representative: Timothy J. Schwuchow;
Comments Due: December 7, 2017.
2. Docket No(s).: MC2018–37 and
CP2018–67; Filing Title: USPS Request
to Add Priority Mail & First-Class
Package Service Contract 63 to
Competitive Product List and Notice of
Filing Materials Under Seal; Filing
Acceptance Date: November 29, 2017;
Filing Authority: 39 U.S.C. 3642 and 39
CFR 3020.30 et seq.; Public
Representative: Timothy J. Schwuchow;
Comments Due: December 7, 2017.
This notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2017–26198 Filed 12–4–17; 8:45 am]
BILLING CODE 7710–FW–P
Postal ServiceTM.
Notice.
POSTAL SERVICE
Product Change—Priority Mail and
First-Class Package Service
Negotiated Service Agreement
Postal ServiceTM.
ACTION: Notice.
AGENCY:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of notice required under 39
U.S.C. 3642(d)(1): December 5, 2017.
FOR FURTHER INFORMATION CONTACT:
Elizabeth A. Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 29,
2017, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail & First-Class Package
Service Contract 63 to Competitive
Product List. Documents are available at
www.prc.gov, Docket Nos. MC2018–37,
CP2018–67.
SUMMARY:
SECURITIES AND EXCHANGE
COMMISSION
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of notice required under 39
U.S.C. 3642(d)(1): December 5, 2017.
FOR FURTHER INFORMATION CONTACT:
Elizabeth A. Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 29,
2017, it filed with the Postal Regulatory
SUMMARY:
sradovich on DSK3GMQ082PROD with NOTICES
BILLING CODE 7710–12–P
BILLING CODE 7710–12–P
AGENCY:
18:13 Dec 04, 2017
[FR Doc. 2017–26118 Filed 12–4–17; 8:45 am]
[FR Doc. 2017–26119 Filed 12–4–17; 8:45 am]
Product Change—Priority Mail
Negotiated Service Agreement
VerDate Sep<11>2014
Elizabeth A. Reed,
Attorney, Corporate and Postal Business Law.
Elizabeth A. Reed,
Attorney, Corporate and Postal Business Law.
POSTAL SERVICE
ACTION:
Commission a USPS Request to Add
Priority Mail Contract 379 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2018–36, CP2018–66.
Jkt 244001
[Release No. 34–82174; File No. SR–BX–
2017–054]
Self-Regulatory Organizations; Nasdaq
BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Adopt a Shell
Structure for the BX Rulebook
November 29, 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
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00070
Fmt 4703
Sfmt 4703
17, 2017, Nasdaq BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The 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 the Substance
of the Proposed Rule Change
The Exchange proposes to adopt a
shell structure for the BX rulebook
(‘‘Rulebook’’) as part of its initiative to
structure its Rulebook.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqbx.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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On March 9, 2016, Nasdaq, Inc.
acquired the capital stock of U.S.
Exchange Holdings, thereby indirectly
acquiring all of the interests of the
International Securities Exchange, LLC
(now Nasdaq ISE, LLC), ISE Gemini,
LLC (now Nasdaq GEMX, LLC)
(‘‘GEMX’’) and ISE Mercury, LLC (now
Nasdaq MRX, LLC) (‘‘MRX’’).3 The
acquisition resulted in a total of six selfregulatory organization licenses for
Nasdaq, Inc. which, in addition to the
three aforementioned exchanges, also
3 See Securities Exchange Act Release No. 78119
(June 21, 2016), 81 FR 41611 (June 27, 2016) (SR–
ISE–2016–11; SR–ISE Gemini–2016–05; SR–ISE
Mercury–2016–10) (Order Granting Accelerated
Approval of Proposed Rule Changes, Each as
Modified by Amendment No. 1 Thereto, Relating to
a Corporate Transaction in Which Nasdaq, Inc. Will
Become the Indirect Parent of ISE, ISE Gemini, and
ISE Mercury).
E:\FR\FM\05DEN1.SGM
05DEN1
Federal Register / Vol. 82, No. 232 / Tuesday, December 5, 2017 / Notices
include The Nasdaq Stock Market LLC
(‘‘Nasdaq’’), Nasdaq PHLX LLC (‘‘Phlx’’)
and BX (collectively, ‘‘Nasdaq
Entities’’).
The Exchange is planning to conform
the chapters of the various Nasdaq
Entity rulebooks for efficiency, and
conformity of certain Nasdaq Entity
processes. The Exchange believes that
aligning the rules of the Nasdaq Entities
will assist market participants in
navigating the various rulebooks.
Specifically, the Exchange proposes to
add a shell structure which would
reside alongside the current rulebook.
The proposed shell would outline the
various chapters of the future rulebook
and contains new chapter numbering. A
similar shell would be filed to add the
same structure to each of the other
Nasdaq Entities. The proposed chapters
would be similar for each shell filed for
each of the Nasdaq Entities. In
subsequent rule changes, each of the
Nasdaq Entities would file rule changes
to move their current rules into the
various chapters of the proposed shells
for all six markets and delete the
migrated rule from the current location
in the Rulebook.4 The proposed shell
would contain a general rule section
and product specific sections, in this
case equities and options, which would
encompass all the rules of the Exchange.
The Exchange believes this new
structure would align the Nasdaq
Entities’ rulebooks for ease of use by
Members, who are members of more
than one Nasdaq Entity. This proposal
would not amend the current Rulebook
and is therefore not a substantive
change. A Member would continue to be
able to view the current Rulebook
alongside the proposed reorganized
Rulebook. Subsequent rule changes will
be filed to move the rule text into the
shell Rulebook.
sradovich on DSK3GMQ082PROD with NOTICES
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, by
starting the process of organizing its
rules in a manner which is clear and
consistent across the Nasdaq Entities.
4 When relocating the current rule text into the
new shell, the Exchange shall not amend the rule
text but simply move existing rule text.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
VerDate Sep<11>2014
18:13 Dec 04, 2017
Jkt 244001
The Exchange believes that coordinating
the chapters of the rulebooks among the
Nasdaq Entities will provide Members,
who are members of more than one
Nasdaq Entity, with consistency and
ease of reference in locating rules.
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 not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed changes do not impose a
burden on competition because the
proposed amendments are nonsubstantive, are intended to start the
process to organize the rules of the
Exchange in a manner that will be more
user-friendly to Nasdaq Entity members.
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
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 7 and
subparagraph (f)(6) of Rule 19b–4
thereunder.8
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative for 30 days after the
date of its filing. However, Rule
19b–4(f)(6)(iii) 9 permits the
Commission to designate a shorter time
if such action is consistent with the
protection of investors and the public
interest. The Exchange has requested
that the Commission waive the 30-day
operative delay so that the proposed
rule change will become operative upon
filing. The Exchange states that such
waiver will enable the Exchange to start
the process to reorganize the rulebooks
of the Nasdaq Entities. The Commission
7 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the 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.
9 17 CFR 240.19b–4(f)(6)(iii).
8 17
PO 00000
Frm 00071
Fmt 4703
Sfmt 4703
57493
believes that waiver of the 30-day
operative delay is consistent with the
protection of investors and the public
interest because the proposal does not
raise any novel issues and waiver will
allow the Exchange to begin the
reorganization of its Rulebook without
delay. Therefore, the Commission
hereby waives the operative delay and
designates the proposed rule change
operative upon filing.10
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:
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–
BX–2017–054 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–BX–2017–054. 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
10 For purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
E:\FR\FM\05DEN1.SGM
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57494
Federal Register / Vol. 82, No. 232 / Tuesday, December 5, 2017 / Notices
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–BX–2017–054, and should
be submitted on or before December 26,
2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–26128 Filed 12–4–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82175; File No. SR–
NASDAQ–2017–125]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Adopt a
Shell Structure for the Nasdaq
Rulebook
sradovich on DSK3GMQ082PROD with NOTICES
November 29, 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
17, 2017, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
11 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
18:13 Dec 04, 2017
Jkt 244001
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to adopt a
shell structure for the Nasdaq rulebook
(‘‘Rulebook’’) as part of its initiative to
structure its Rulebook.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaq.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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On March 9, 2016, Nasdaq, Inc.
acquired the capital stock of U.S.
Exchange Holdings, thereby indirectly
acquiring all of the interests of the
International Securities Exchange, LLC
(now Nasdaq ISE, LLC), ISE Gemini,
LLC (now Nasdaq GEMX, LLC)
(‘‘GEMX’’) and ISE Mercury, LLC (now
Nasdaq MRX, LLC) (‘‘MRX’’).3 The
acquisition resulted in a total of six selfregulatory organization licenses for
Nasdaq, Inc. which, in addition to the
three aforementioned exchanges, also
include Nasdaq, Nasdaq PHLX LLC
(‘‘Phlx’’) and Nasdaq BX, Inc. (‘‘BX’’)
(collectively, ‘‘Nasdaq Entities’’).
The Exchange is planning to conform
the chapters of the various Nasdaq
Entity rulebooks for efficiency, and
conformity of certain Nasdaq Entity
processes. The Exchange believes that
aligning the rules of the Nasdaq Entities
will assist market participants in
navigating the various rulebooks.
3 See Securities Exchange Act Release No. 78119
(June 21, 2016), 81 FR 41611 (June 27, 2016) (SR–
ISE–2016–11; SR–ISE Gemini–2016–05; SR–ISE
Mercury–2016–10) (Order Granting Accelerated
Approval of Proposed Rule Changes, Each as
Modified by Amendment No. 1 Thereto, Relating to
a Corporate Transaction in Which Nasdaq, Inc. Will
Become the Indirect Parent of ISE, ISE Gemini, and
ISE Mercury).
PO 00000
Frm 00072
Fmt 4703
Sfmt 4703
Specifically, the Exchange proposes to
add a shell structure which would
reside alongside the current rulebook.
The proposed shell would outline the
various chapters of the future rulebook
and contains new chapter numbering. A
similar shell would be filed to add the
same structure to each of the other
Nasdaq Entities. The proposed chapters
would be similar for each shell filed for
each of the Nasdaq Entities. In
subsequent rule changes, each of the
Nasdaq Entities would file rule changes
to move their current rules into the
various chapters of the proposed shells
for all six markets and delete the
migrated rule from the current location
in the Rulebook.4 The proposed shell
would contain a general rule section
and product specific sections, in this
case equities and options, which would
encompass all the rules of the Exchange.
The Exchange believes this new
structure would align the Nasdaq
Entities’ rulebooks for ease of use by
Members, who are members of more
than one Nasdaq Entity. This proposal
would not amend the current Rulebook
and is therefore not a substantive
change. A Member would continue to be
able to view the current Rulebook
alongside the proposed reorganized
Rulebook. Subsequent rule changes will
be filed to move the rule text into the
shell Rulebook.
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, by
starting the process of organizing its
rules in a manner which is clear and
consistent across the Nasdaq Entities.
The Exchange believes that coordinating
the chapters of the rulebooks among the
Nasdaq Entities will provide Members,
who are members of more than one
Nasdaq Entity, with consistency and
ease of reference in locating rules.
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 not
necessary or appropriate in furtherance
4 When relocating the current rule text into the
new shell, the Exchange shall not amend the rule
text but simply move existing rule text.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
E:\FR\FM\05DEN1.SGM
05DEN1
]]>Agencies
[Federal Register Volume 82, Number 232 (Tuesday, December 5, 2017)]
[Notices]
[Pages 57492-57494]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26128]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82174; File No. SR-BX-2017-054]
Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Adopt a Shell
Structure for the BX Rulebook
November 29, 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 17, 2017, Nasdaq BX, Inc. (``BX'' or ``Exchange'') filed
with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange proposes to adopt a shell structure for the BX
rulebook (``Rulebook'') as part of its initiative to structure its
Rulebook.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqbx.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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
On March 9, 2016, Nasdaq, Inc. acquired the capital stock of U.S.
Exchange Holdings, thereby indirectly acquiring all of the interests of
the International Securities Exchange, LLC (now Nasdaq ISE, LLC), ISE
Gemini, LLC (now Nasdaq GEMX, LLC) (``GEMX'') and ISE Mercury, LLC (now
Nasdaq MRX, LLC) (``MRX'').\3\ The acquisition resulted in a total of
six self-regulatory organization licenses for Nasdaq, Inc. which, in
addition to the three aforementioned exchanges, also
[[Page 57493]]
include The Nasdaq Stock Market LLC (``Nasdaq''), Nasdaq PHLX LLC
(``Phlx'') and BX (collectively, ``Nasdaq Entities'').
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 78119 (June 21,
2016), 81 FR 41611 (June 27, 2016) (SR-ISE-2016-11; SR-ISE Gemini-
2016-05; SR-ISE Mercury-2016-10) (Order Granting Accelerated
Approval of Proposed Rule Changes, Each as Modified by Amendment No.
1 Thereto, Relating to a Corporate Transaction in Which Nasdaq, Inc.
Will Become the Indirect Parent of ISE, ISE Gemini, and ISE
Mercury).
---------------------------------------------------------------------------
The Exchange is planning to conform the chapters of the various
Nasdaq Entity rulebooks for efficiency, and conformity of certain
Nasdaq Entity processes. The Exchange believes that aligning the rules
of the Nasdaq Entities will assist market participants in navigating
the various rulebooks. Specifically, the Exchange proposes to add a
shell structure which would reside alongside the current rulebook. The
proposed shell would outline the various chapters of the future
rulebook and contains new chapter numbering. A similar shell would be
filed to add the same structure to each of the other Nasdaq Entities.
The proposed chapters would be similar for each shell filed for each of
the Nasdaq Entities. In subsequent rule changes, each of the Nasdaq
Entities would file rule changes to move their current rules into the
various chapters of the proposed shells for all six markets and delete
the migrated rule from the current location in the Rulebook.\4\ The
proposed shell would contain a general rule section and product
specific sections, in this case equities and options, which would
encompass all the rules of the Exchange.
---------------------------------------------------------------------------
\4\ When relocating the current rule text into the new shell,
the Exchange shall not amend the rule text but simply move existing
rule text.
---------------------------------------------------------------------------
The Exchange believes this new structure would align the Nasdaq
Entities' rulebooks for ease of use by Members, who are members of more
than one Nasdaq Entity. This proposal would not amend the current
Rulebook and is therefore not a substantive change. A Member would
continue to be able to view the current Rulebook alongside the proposed
reorganized Rulebook. Subsequent rule changes will be filed to move the
rule text into the shell Rulebook.
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,
by starting the process of organizing its rules in a manner which is
clear and consistent across the Nasdaq Entities. The Exchange believes
that coordinating the chapters of the rulebooks among the Nasdaq
Entities will provide Members, who are members of more than one Nasdaq
Entity, with consistency and ease of reference in locating rules.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 not necessary or appropriate in
furtherance of the purposes of the Act. The proposed changes do not
impose a burden on competition because the proposed amendments are non-
substantive, are intended to start the process to organize the rules of
the Exchange in a manner that will be more user-friendly to Nasdaq
Entity members.
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
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 \7\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\8\
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\7\ 15 U.S.C. 78s(b)(3)(A)(iii).
\8\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the 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.
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A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of its filing. However,
Rule 19b-4(f)(6)(iii) \9\ permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange has requested that the Commission
waive the 30-day operative delay so that the proposed rule change will
become operative upon filing. The Exchange states that such waiver will
enable the Exchange to start the process to reorganize the rulebooks of
the Nasdaq Entities. The Commission believes that waiver of the 30-day
operative delay is consistent with the protection of investors and the
public interest because the proposal does not raise any novel issues
and waiver will allow the Exchange to begin the reorganization of its
Rulebook without delay. Therefore, the Commission hereby waives the
operative delay and designates the proposed rule change operative upon
filing.\10\
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\9\ 17 CFR 240.19b-4(f)(6)(iii).
\10\ For purposes only of waiving the 30-day operative delay,
the Commission also 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: (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:
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-BX-2017-054 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-BX-2017-054. 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
[[Page 57494]]
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-BX-
2017-054, and should be submitted on or before December 26, 2017.
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\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-26128 Filed 12-4-17; 8:45 am]
BILLING CODE 8011-01-P
