Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 19.6, Series of Options Contracts Open for Trading, 60424-60426 [2017-27350]

Download as PDF 60424 Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Notices POSTAL SERVICE POSTAL SERVICE Under the provisions of the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), the NRC recently submitted a request for renewal of an existing collection of information to OMB for review entitled, NRC Form 445, ‘‘Request for Approval of Official Foreign Travel.’’ The NRC hereby informs potential respondents that an agency may not conduct or sponsor, and that a person is not required to respond to, a collection of information unless it displays a currently valid OMB control number. The NRC published a Federal Register notice with a 60-day comment period on this information collection on September 12, 2017; 82 FR 42842. 1. The title of the information collection: NRC Form 445, ‘‘Request for Approval of Official Foreign Travel.’’ 2. OMB approval number: 3150–0193. 3. Type of submission: Extension. 4. The form number if applicable: NRC Form 445. 5. How often the collection is required or requested: On occasion. 6. Who will be required or asked to respond: Non-Federal consultants, contractors and NRC invited travelers (i.e., non-NRC employees). 7. The estimated number of annual responses: 50. 8. The estimated number of annual respondents: 50. 9. An estimate of the total number of hours needed annually to comply with the information collection requirement or request: 50. 10. Abstract: Form 445, ‘‘Request for Approval of Foreign Travel,’’ is supplied by consultants, contractors, and NRC invited travelers who must travel to foreign countries in the course of conducting business for the NRC. In accordance with 48 CFR 20, ‘‘NRC Acquisition Regulation,’’ contractors traveling to foreign countries are required to complete this form. The information requested includes the name of the Office Director/Regional Administrator or Chairman, as appropriate, the traveler’s identifying information, purpose of travel, listing of the trip coordinators, other NRC travelers and contractors attending the same meeting, and a proposed itinerary. sradovich on DSK3GMQ082PROD with NOTICES II. Background Product Change—Priority Mail Negotiated Service Agreement Product Change—Priority Mail Express Negotiated Service Agreement Dated at Rockville, Maryland, this 14th day of December, 2017. For the Nuclear Regulatory Commission. David Cullison, NRC Clearance Officer, Office of the Chief Information Officer. Postal ServiceTM. Notice. AGENCY: ACTION: ACTION: SUMMARY: 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 20, 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 December 14, 2017, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 391 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–56, CP2018–92. 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 20, 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 December 14, 2017, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Express Contract 55 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–57, CP2018–94. Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. [FR Doc. 2017–27355 Filed 12–19–17; 8:45 am] [FR Doc. 2017–27356 Filed 12–19–17; 8:45 am] BILLING CODE 7710–12–P BILLING CODE 7710–12–P POSTAL SERVICE SECURITIES AND EXCHANGE COMMISSION Product Change—Priority Mail Negotiated Service Agreement Postal ServiceTM. Notice. ACTION: 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 20, 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 December 14, 2017, it filed with the Postal Regulatory Commission a USPS Request to Add Priority Mail Contract 390 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2018–55, CP2018–91. SUMMARY: Elizabeth A. Reed, Attorney, Corporate and Postal Business Law. [FR Doc. 2017–27354 Filed 12–19–17; 8:45 am] BILLING CODE 7590–01–P BILLING CODE 7710–12–P 21:36 Dec 19, 2017 Jkt 244001 SUMMARY: [Release No. 34–82331; File No. SR– CboeEDGX–2017–005] AGENCY: [FR Doc. 2017–27383 Filed 12–19–17; 8:45 am] VerDate Sep<11>2014 Postal ServiceTM. Notice. AGENCY: PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 19.6, Series of Options Contracts Open for Trading December 14, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on December 4, 2017, Cboe EDGX Exchange, Inc. (‘‘Exchange’’ or ‘‘EDGX’’) 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 Exchange has designated this proposal as a ‘‘noncontroversial’’ proposed rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6)(iii) thereunder,4 which renders it effective 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6)(iii). 2 17 E:\FR\FM\20DEN1.SGM 20DEN1 Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Notices upon filing with the Commission. 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 filed a proposal to amend Rule 19.6, Series of Options Contracts Open for Trading. The text of the proposed rule change is available at the Exchange’s website at www.markets.cboe.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 parts of such statements. (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change sradovich on DSK3GMQ082PROD with NOTICES 1. Purpose The purpose of this filing is to amend Rule 19.6 to modify the strike setting regime for IVV, SPY, and DIA options. Specifically, for IVV, SPY, and DIA options the Exchange proposes to explicitly allow $1 strike price intervals. The Exchange believes that the proposed rule change would make IVV, SPY, and DIA options easier for investors and traders to use and more tailored to their investment needs, as well as to better align BZX’s strike regime with other options exchange. The Exchange notes that this proposal is based on the rules of BOX Options Exchange LLC (‘‘Box’’) and the Cboe Exchange, Inc. (f/k/a Chicago Board Options Exchange, Inc.) (Cboe).5 Rule 19.6(d)(4) provides that: The interval between strike prices of series of options on Fund Shares approved for options trading pursuant to Rule 19.3(i) shall be fixed at a price per share which is reasonably close to the price per share at which the underlying security is traded in the primary market at or about the same time such series of options is first open for trading on BZX Options, or at such intervals as may have been established on another options exchange prior to the initiation of trading on BZX Options.6 Rule 19.6.02(a) provides: BZX Options may list $1 Strike Prices on any other option classes if those classes are specifically designated by other national securities exchanges that employ a similar $1 Strike Price Program under their respective rules.7 Pursuant to Rule 19.6.02(a) and the last clause in Rule 19.6(d)(4), IVV, SPY, and DIA options may be listed in $1 strike price intervals when another options exchange lists $1 strikes. The Exchange seeks to amend Rule 19.6(d)(4) to explicitly allow $1 strike price intervals regardless of whether another exchange has already listed series of IVV, SPY, and DIA options. The SPY and IVV exchange-traded funds (‘‘ETFs’’) are designed to roughly track the performance of the S&P 500 Index. The DIA ETF is designed to roughly track the performance of the Dow Jones Industrial Average (‘‘DJIA’’) with the price of SPY and IVV designed to roughly approximate 1/10th of the price of the S&P 500 Index and the price of DIA designed to roughly approximate 1/100th of the price of the DJIA. Accordingly, SPY and IVV strike prices reflect a value roughly equal to 1/10th of the value of the S&P 500 Index and DIA strike prices reflect a value roughly equal to 1/100th of the value of the DJIA with each having a multiplier of $100. For example, if the S&P 500 Index is at 1972.56, SPY options might have a value of approximately 197.26 with a notional value of $19,726. If the DJIA is at 16,569.98, DIA options may have a value of 165.70 with a notional value of $16,570. In general, SPY, IVV, and DIA options provide retail investors and traders with the benefit of trading the broad market in a manageably sized contract. As options with an ETP underlying, SPY, IVV, and DIA options are listed in the same manner as equity options under the Rules. Unlike other options exchanges, BZX rules do not specifically identify the strike price interval for IVV, SPY, and DIA options. This proposed rule change seeks to match the strike setting regime for IVV, SPY, and DIA options available on other options exchanges.8 Due to the Exchange’s current ability to list $1 strikes in IVV, SPY, and DIA options when another options exchange lists such strikes, this proposed rule change is unlikely to augment the 6 See Rule 19.6(d)(4). Rule 19.6.02(a). 8 See Box Rule IM–5050–1 and Cboe Rule 5.5.08(b). 7 See 5 See Box Rule IM–5050–1 and Cboe Rule 5.5.08(b). VerDate Sep<11>2014 21:36 Dec 19, 2017 Jkt 244001 PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 60425 potential total number of options series available on the Exchange. However, the Exchange believes it and the Options Price Reporting Authority (‘‘OPRA’’) have the necessary systems capacity to handle any potential additional traffic associated with this proposed rule change. The Exchange also believes that Trading Permit Holders will not have a capacity issue due to the proposed rule change. In addition, the Exchange represents that it does not believe that this expansion will cause fragmentation of liquidity. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act. Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. In particular, the proposed rule change will allow investors to more easily use SPY, IVV, DIA options, which protects investors and the public interest. The Exchange also believes the proposed rule change is consistent with Section 6(b)(1) of the Act, which provides that the Exchange be organized and have the capacity to be able to carry out the purposes of the Act and the rules and regulations thereunder, and the rules of the Exchange. The Exchange does not believe that the proposed rule would create additional capacity issues or affect market functionality. The Exchange believes that the proposed rule change, like other strike price programs currently offered by the Exchange, will benefit investors by giving them increased flexibility to more closely tailor their investment and hedging decisions. Moreover, the E:\FR\FM\20DEN1.SGM 20DEN1 60426 Federal Register / Vol. 82, No. 243 / Wednesday, December 20, 2017 / Notices proposed rule change is consistent with the rules of other exchanges.9 (B) Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Rather, the Exchange believes that the proposed rule change will result in additional investment options and opportunities to achieve the investment and trading objectives of market participants seeking efficient trading and hedging vehicles, to the benefit of investors, market participants, and the marketplace in general. Additionally, this proposed rule change seeks to match the strike setting regime for IVV, SPY, and DIA options available on other options exchanges; thus, the proposed rule change may alleviate any potential burden on competition.10 sradovich on DSK3GMQ082PROD with NOTICES (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 Because the foregoing proposed rule change does not: (A) Significantly affect the protection of investors or the public interest; (B) impose any significant burden on competition; and (C) by its terms, 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) of the Act 11 and paragraph (f)(6) of Rule 19b– 4 thereunder,12 the Exchange has designated this rule filing as noncontroversial. The Exchange has given the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. 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: (1) Necessary or appropriate in 9 See Box Rule IM–5050–1 and Cboe Rule 5.5.08(b). 10 Id. 11 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b–4. VerDate Sep<11>2014 21:36 Dec 19, 2017 Jkt 244001 the public interest; (2) for the protection of investors; or (3) 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– CboeEDGX–2017–005 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–CboeEDGX–2017–005. 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 website (http://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 website 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 PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 Number SR–CboeEDGX–2017–005 and should be submitted on or before January 10, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017–27350 Filed 12–19–17; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Investment Company Act Release No. 32939; 812–14785] Ausdal Financial Partners, Inc. and Ausdal Unit Investment Trust December 14, 2017. Securities and Exchange Commission (‘‘Commission’’). ACTION: Notice. AGENCY: Notice of an application under (a) section 6(c) of the Investment Company Act of 1940 (‘‘Act’’) for an exemption from sections 2(a)(32), 2(a)(35), 14(a), 19(b), 22(d) and 26(a)(2)(C) of the Act and rules 19b–1 and rule 22c–1 thereunder and (b) sections 11(a) and 11(c) of the Act for approval of certain exchange and rollover privileges. Applicants: Ausdal Financial Partners, Inc. (‘‘Ausdal’’) and Ausdal Unit Investment Trust.1 Summary of Application: Applicants request an order to permit certain unit investment trusts (‘‘UIT’’) to: (a) impose sales charges on a deferred basis and waive the deferred sales charge in certain cases; (b) offer unitholders certain exchange and rollover options; (c) publicly offer units without requiring the Depositor to take for its own account $100,000 worth of units; and (d) distribute capital gains resulting from the sale of portfolio securities within a reasonable time after receipt. Filing Dates: The application was filed on June 20, 2017, and amended on October 27, 2017. Hearing or Notification of Hearing: An order granting the requested relief will be issued unless the Commission orders a hearing. Interested persons may 13 17 CFR 200.30–3(a)(12). also request relief for future registered unit investment trusts (collectively, with Ausdal Unit Investment Trust, the ‘‘Trusts’’) and series of the Trusts (‘‘Series’’) that are sponsored by Ausdal or any entity controlling, controlled by or under common control with Ausdal (together with Ausdal, the ‘‘Depositor’’). Any future Trust and Series that relies on the requested order will comply with the terms and conditions of the application. All existing entities that currently intend to rely on the requested order are named as applicants. 1 Applicants E:\FR\FM\20DEN1.SGM 20DEN1

Agencies

[Federal Register Volume 82, Number 243 (Wednesday, December 20, 2017)]
[Notices]
[Pages 60424-60426]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-27350]


=======================================================================
-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82331; File No. SR-CboeEDGX-2017-005]


Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Amend Rule 19.6, Series of Options Contracts Open for Trading

December 14, 2017.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on December 4, 2017, Cboe EDGX Exchange, Inc. (``Exchange'' or 
``EDGX'') 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 Exchange 
has designated this proposal as a ``non-controversial'' proposed rule 
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective

[[Page 60425]]

upon filing with the Commission. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange filed a proposal to amend Rule 19.6, Series of Options 
Contracts Open for Trading.
    The text of the proposed rule change is available at the Exchange's 
website at www.markets.cboe.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 parts of such 
statements.

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

1. Purpose
    The purpose of this filing is to amend Rule 19.6 to modify the 
strike setting regime for IVV, SPY, and DIA options. Specifically, for 
IVV, SPY, and DIA options the Exchange proposes to explicitly allow $1 
strike price intervals. The Exchange believes that the proposed rule 
change would make IVV, SPY, and DIA options easier for investors and 
traders to use and more tailored to their investment needs, as well as 
to better align BZX's strike regime with other options exchange. The 
Exchange notes that this proposal is based on the rules of BOX Options 
Exchange LLC (``Box'') and the Cboe Exchange, Inc. (f/k/a Chicago Board 
Options Exchange, Inc.) (Cboe).\5\
---------------------------------------------------------------------------

    \5\ See Box Rule IM-5050-1 and Cboe Rule 5.5.08(b).
---------------------------------------------------------------------------

    Rule 19.6(d)(4) provides that:

    The interval between strike prices of series of options on Fund 
Shares approved for options trading pursuant to Rule 19.3(i) shall 
be fixed at a price per share which is reasonably close to the price 
per share at which the underlying security is traded in the primary 
market at or about the same time such series of options is first 
open for trading on BZX Options, or at such intervals as may have 
been established on another options exchange prior to the initiation 
of trading on BZX Options.\6\
---------------------------------------------------------------------------

    \6\ See Rule 19.6(d)(4).

---------------------------------------------------------------------------
    Rule 19.6.02(a) provides:

    BZX Options may list $1 Strike Prices on any other option 
classes if those classes are specifically designated by other 
national securities exchanges that employ a similar $1 Strike Price 
Program under their respective rules.\7\
---------------------------------------------------------------------------

    \7\ See Rule 19.6.02(a).

Pursuant to Rule 19.6.02(a) and the last clause in Rule 19.6(d)(4), 
IVV, SPY, and DIA options may be listed in $1 strike price intervals 
when another options exchange lists $1 strikes. The Exchange seeks to 
amend Rule 19.6(d)(4) to explicitly allow $1 strike price intervals 
regardless of whether another exchange has already listed series of 
IVV, SPY, and DIA options.
    The SPY and IVV exchange-traded funds (``ETFs'') are designed to 
roughly track the performance of the S&P 500 Index. The DIA ETF is 
designed to roughly track the performance of the Dow Jones Industrial 
Average (``DJIA'') with the price of SPY and IVV designed to roughly 
approximate 1/10th of the price of the S&P 500 Index and the price of 
DIA designed to roughly approximate 1/100th of the price of the DJIA. 
Accordingly, SPY and IVV strike prices reflect a value roughly equal to 
1/10th of the value of the S&P 500 Index and DIA strike prices reflect 
a value roughly equal to 1/100th of the value of the DJIA with each 
having a multiplier of $100. For example, if the S&P 500 Index is at 
1972.56, SPY options might have a value of approximately 197.26 with a 
notional value of $19,726. If the DJIA is at 16,569.98, DIA options may 
have a value of 165.70 with a notional value of $16,570. In general, 
SPY, IVV, and DIA options provide retail investors and traders with the 
benefit of trading the broad market in a manageably sized contract. As 
options with an ETP underlying, SPY, IVV, and DIA options are listed in 
the same manner as equity options under the Rules.
    Unlike other options exchanges, BZX rules do not specifically 
identify the strike price interval for IVV, SPY, and DIA options. This 
proposed rule change seeks to match the strike setting regime for IVV, 
SPY, and DIA options available on other options exchanges.\8\
---------------------------------------------------------------------------

    \8\ See Box Rule IM-5050-1 and Cboe Rule 5.5.08(b).
---------------------------------------------------------------------------

    Due to the Exchange's current ability to list $1 strikes in IVV, 
SPY, and DIA options when another options exchange lists such strikes, 
this proposed rule change is unlikely to augment the potential total 
number of options series available on the Exchange. However, the 
Exchange believes it and the Options Price Reporting Authority 
(``OPRA'') have the necessary systems capacity to handle any potential 
additional traffic associated with this proposed rule change. The 
Exchange also believes that Trading Permit Holders will not have a 
capacity issue due to the proposed rule change. In addition, the 
Exchange represents that it does not believe that this expansion will 
cause fragmentation of liquidity.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act. Specifically, the Exchange 
believes the proposed rule change is consistent with the Section 
6(b)(5) requirements that the rules of an exchange be designed to 
prevent fraudulent and manipulative acts and practices, to promote just 
and equitable principles of trade, to foster cooperation and 
coordination with persons engaged in regulating, clearing, settling, 
processing information with respect to, and facilitating transactions 
in securities, to remove impediments to and perfect the mechanism of a 
free and open market and a national market system, and, in general, to 
protect investors and the public interest. Additionally, the Exchange 
believes the proposed rule change is consistent with the Section 
6(b)(5) requirement that the rules of an exchange not be designed to 
permit unfair discrimination between customers, issuers, brokers, or 
dealers.
    In particular, the proposed rule change will allow investors to 
more easily use SPY, IVV, DIA options, which protects investors and the 
public interest. The Exchange also believes the proposed rule change is 
consistent with Section 6(b)(1) of the Act, which provides that the 
Exchange be organized and have the capacity to be able to carry out the 
purposes of the Act and the rules and regulations thereunder, and the 
rules of the Exchange. The Exchange does not believe that the proposed 
rule would create additional capacity issues or affect market 
functionality. The Exchange believes that the proposed rule change, 
like other strike price programs currently offered by the Exchange, 
will benefit investors by giving them increased flexibility to more 
closely tailor their investment and hedging decisions. Moreover, the

[[Page 60426]]

proposed rule change is consistent with the rules of other 
exchanges.\9\
---------------------------------------------------------------------------

    \9\ See Box Rule IM-5050-1 and Cboe Rule 5.5.08(b).
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. Rather, the Exchange 
believes that the proposed rule change will result in additional 
investment options and opportunities to achieve the investment and 
trading objectives of market participants seeking efficient trading and 
hedging vehicles, to the benefit of investors, market participants, and 
the marketplace in general. Additionally, this proposed rule change 
seeks to match the strike setting regime for IVV, SPY, and DIA options 
available on other options exchanges; thus, the proposed rule change 
may alleviate any potential burden on competition.\10\
---------------------------------------------------------------------------

    \10\ Id.
---------------------------------------------------------------------------

(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

    Because the foregoing proposed rule change does not: (A) 
Significantly affect the protection of investors or the public 
interest; (B) impose any significant burden on competition; and (C) by 
its terms, 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) of the Act \11\ and 
paragraph (f)(6) of Rule 19b-4 thereunder,\12\ the Exchange has 
designated this rule filing as non-controversial. The Exchange has 
given the Commission written notice of its intent to file the proposed 
rule change, along with a brief description and text of the proposed 
rule change at least five business days prior to the date of filing of 
the proposed rule change, or such shorter time as designated by the 
Commission.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

    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: (1) 
Necessary or appropriate in the public interest; (2) for the protection 
of investors; or (3) 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-CboeEDGX-2017-005 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-CboeEDGX-2017-005. 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 website (http://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 website 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-CboeEDGX-2017-005 and should be 
submitted on or before January 10, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-27350 Filed 12-19-17; 8:45 am]
 BILLING CODE 8011-01-P