Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 5050 To Extend the Pilot Program That Lists RealDay Options (“RealDay Pilot Program”), 577-579 [2017-28436]
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Federal Register / Vol. 83, No. 3 / Thursday, January 4, 2018 / Notices
ethrower on DSK3G9T082PROD with NOTICES
broker-dealer firms and from thirdparties, which may provide prices free
with a time delay, or ‘‘live’’ with a paid
fee. Major broker-dealer firms will also
provide intraday quotes on swaps of the
type held by the Fund. For Bitcoin
Futures Contracts, such intraday
information is available directly from
the applicable listing exchange. Intraday
price information is also available
through subscription services, such as
Bloomberg and Thomson Reuters,
which can be accessed by authorized
participants and other investors. Pricing
information related to money market
fund shares will be available through
issuer websites and publicly available
quotation services such as Bloomberg,
Markit and Thomson Reuters. Money
market fund shares are not generally
priced or quoted on an intraday basis.
The proposed rule change is designed
to perfect the mechanism of a free and
open market and, in general, to protect
investors and the public interest in that
it will facilitate the listing and trading
of additional types of actively-managed
exchange-traded products that will
enhance competition among market
participants, to the benefit of investors
and the marketplace. As noted above,
the Exchange has in place surveillance
procedures relating to trading in the
Shares and may obtain information via
ISG from other exchanges that are
members of ISG or with which the
Exchange has entered into a
comprehensive surveillance sharing
agreement as well as trade information
for certain fixed income instruments as
reported to FINRA’s TRACE. At least
90% of the weight of the Bitcoin
Derivatives held by the Funds will trade
on markets that are a member of ISG or
affiliated with a member of ISG or with
which the Exchange has in place a
comprehensive surveillance sharing
agreement. In addition, as noted above,
investors will have ready access to
information regarding the Fund’s
holdings, the Intraday Indicative Value,
the Disclosed Portfolio, and quotation
and last sale information for the Shares.
For the above reasons, the Exchange
believes that the proposed rule change
is consistent with the requirements of
Section 6(b)(5) of the Act.
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 purpose of the Act. The Exchange
notes that the proposed rule change,
rather will facilitate the listing and
trading of additional actively-managed
exchange-traded products that will
VerDate Sep<11>2014
16:16 Jan 03, 2018
Jkt 244001
enhance competition among both
market participants and listing venues,
to the benefit of investors and the
marketplace.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
Register, or within such longer period
up to 90 days (i) as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or (ii) as to which
the self-regulatory organization
consents, the Commission will:
A. by order approve or disapprove the
proposed rule change, or
B. institute proceedings to determine
whether the proposed rule change
should be 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–
CboeBZX–2017–013 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–CboeBZX–2017–013. 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 (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
PO 00000
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577
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–CboeBZX–2017–013 and
should be submitted on or before
January 25, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.51
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017–28439 Filed 1–3–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82414; File No. SR–BOX–
2017–38]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Amend
Rule 5050 To Extend the Pilot Program
That Lists RealDay Options (‘‘RealDay
Pilot Program’’)
December 28, 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
21, 2017, BOX Options Exchange LLC
(the ‘‘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 self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
51 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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578
Federal Register / Vol. 83, No. 3 / Thursday, January 4, 2018 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend
Rule 5050 to extend the pilot program
that lists RealDay Options (‘‘RealDay
Pilot Program’’). 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 website at https://
boxoptions.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.
ethrower on DSK3G9T082PROD with NOTICES
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 5050(f) to extend the time period
of the RealDay Pilot Program,3 which is
currently scheduled to expire on
February 2, 2018, through February 2,
2019.
This filing does not propose any
substantive changes to the RealDay Pilot
Program. In the original proposal to
establish the RealDay Pilot Program, the
Exchange stated that if it were to
propose an extension, permanent
approval or termination of the program,
the Exchange would submit, along with
any filing proposing such amendments
to the program, a report containing an
analysis of volume, open interest, and
trading patterns in RealDay Options. In
addition, the Exchange stated that pilot
report would provide analysis of price
volatility and trading activity in
additional option series.
Because the industry has not finished
developing the technology for clearing
and settlement of RealDay Options and
BOX has not launched this product,
3 See Securities Exchange Act Release No. 79936
(February 2, 2017), 82 FR 9886 (February 8, 2017)
(Order Granting Approval of a Proposed Rule
Change To Amend Rule 5050 Series of Options
Contracts Open for Trading To Provide for the
Listing and Trading on the Exchange of RealDay).
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Jkt 244001
there is no meaningful data available to
compile the Pilot Report at this time and
therefore the Exchange did not file a
Pilot Report prior to this extension
request. The Exchange believes it is
appropriate to extend the RealDay Pilot
Program to provide time for the industry
to develop and implement the requisite
technology so that the Exchange can
prepare a meaningful Pilot Report if it
were to propose any further extension,
permanent approval or termination of
the program.
As with the original proposal to
establish the RealDay Pilot Program, the
Exchange represents that the Pilot
Report will be submitted within two (2)
months of the end of the extended pilot
period. The Pilot Report will contain the
following volume and open interest data
for RealDay Options:
(1) Daily contract trading volume
aggregated for all trades, for all option
series with less than 31 days until
expiration;
(2) daily contract trading volume
aggregated by expiration date, for all
option series with less than 31 days
until expiration;
(3) daily contract trading volume for
each individual series;
(4) daily open interest aggregated for
all series, for all option series with less
than 31 days until expiration;
(5) daily open interest aggregated for
all series by expiration date, for all
option series with less than 31 days
until expiration;
(6) daily open interest for each
individual series;
(7) statistics on the distribution of
trade sizes;
(8) type of market participant trading
(e.g., contract trading volume for each
market participant type); and
(9) 5-minute returns, level changes,
and trading volume for the S&P 500
Index, VIX, SPY, IVV, and expiring
RealDay options between open and
close for the first and second
Wednesday of the month that is a
trading day and trading days when
standard SPY options expire.
In addition to the pilot report, the
Exchange would periodically provide
the Commission with interim reports of
the information listed in items (1)
through (9) above as required by the
Commission while the pilot is in effect.
These interim reports would also be
provided on a confidential basis.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the Act,4
in general, and Section 6(b)(5) of the
4 15
PO 00000
U.S.C. 78f(b).
Frm 00080
Fmt 4703
Sfmt 4703
Act,5 in particular, in that it is designed
to prevent fraudulent and manipulative
acts and practices, 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. The Exchange believes
that extending the RealDay Pilot
Program promotes just and equitable
principles of trade by permitting market
participants, including market makers,
institutional investors and retail
investors, to introduce new and
innovative products to the marketplace.
Further, the Exchange believes that
extending the RealDay Pilot Program
will allow the industry to fully develop
and implement the requisite technology
for RealDay Options which will allow
the Exchange to launch the Program in
order to gather the requisite data for the
above mentioned pilot report.
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 rule change is not designed to
address any aspect of competition,
whether between the Exchange and its
competitors, or among market
participants. Instead, the proposed rule
change is designed to allow the RealDay
Pilot Program to continue while the
industry develops the technology
needed for RealDay Options.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act and Rule 19b–
4(f)(6) thereunder.6
5 15
U.S.C. 78f(b)(5).
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
6 17
E:\FR\FM\04JAN1.SGM
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Federal Register / Vol. 83, No. 3 / Thursday, January 4, 2018 / Notices
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
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–BOX–2017–38, and should
be submitted on or before January 25,
2018.
IV. Solicitation of Comments
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Robert W. Errett,
Deputy Secretary.
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–
BOX–2017–38 on the subject line.
ethrower on DSK3G9T082PROD with NOTICES
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE, Washington, DC 20549–1090.
All submissions should refer to File
Number SR–BOX–2017–38. 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 (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for 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 such
filing also will be available for
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.
VerDate Sep<11>2014
16:16 Jan 03, 2018
Jkt 244001
[FR Doc. 2017–28436 Filed 1–3–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82423; File No. SR–
CboeEDGA–2017–004]
Self-Regulatory Organizations; Cboe
EDGA Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change Related to
Market Data Fees
December 29, 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
15, 2017, Cboe EDGA Exchange, Inc.
(the ‘‘Exchange’’ or ‘‘EDGA’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II and III below, which Items
have been prepared by the Exchange.
The Exchange has designated the
proposed rule change as one
establishing or changing a member due,
fee, or other charge imposed by the
Exchange under Section 19(b)(3)(A)(ii)
of the Act 3 and Rule 19b–4(f)(2)
thereunder,4 which renders the
proposed rule change effective 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 the Market Data section of its fee
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
579
schedule to lower the Internal
Distribution 5 fees and to adopt per User
fees for the Cboe One Summary Feed.
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 Exchange proposes to amend the
Market Data section of its fee schedule
to lower the fee for Internal Distribution
and to adopt separate fees for
Professional 6 and Non-Professional
Users 7 for the Cboe One Summary Feed.
The Cboe One Feed is an optional
data feed that disseminates, on a real5 A ‘‘Distributor’’ is defined as ‘‘any entity that
receives the Exchange Market Data product directly
from the Exchange or indirectly through another
entity and then distributes it internally or externally
to a third party.’’ See the Exchange’s fee schedule
available at https://markets.cboe.com/us/equities/
membership/fee_schedule/edga/. An ‘‘Internal
Distributor’’ is defined as ‘‘a Distributor that
receives the Exchange Market Data product and
then distributes that data to one or more Users
within the Distributor’s own entity.’’ Id.
6 A ‘‘Professional User’’ is defined as ‘‘any User
other than a Non-Professional User.’’ See the
Exchange’s fee schedule available at https://
markets.cboe.com/us/equities/membership/fee_
schedule/edga/.
7 A ‘‘Non-Professional User’’ is currently defined
as ‘‘a natural person who is not: (i) Registered or
qualified in any capacity with the Commission, the
Commodity Futures Trading Commission, any state
securities agency, any securities exchange or
association, or any commodities or futures contract
market or association; (ii) engaged as an
‘‘investment adviser’’ as that term is defined in
Section 202(a)(11) of the Investment Advisers Act
of 1940 (whether or not registered or qualified
under that Act); or (iii) employed by a bank or other
organization exempt from registration under federal
or state securities laws to perform functions that
would require registration or qualification if such
functions were performed for an organization not so
exempt.’’ Id. See SR–CboeEDGA–2017–003 (filed
December 15, 2017) (amending the definition of
Non-Professional User to harmonize it with that of
its affiliate exchanges, Cboe Exchange, Inc. and C2
Exchange, Inc. as of January 2, 2018).
E:\FR\FM\04JAN1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 3 (Thursday, January 4, 2018)]
[Notices]
[Pages 577-579]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-28436]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82414; File No. SR-BOX-2017-38]
Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend Rule 5050 To Extend the Pilot Program That Lists RealDay Options
(``RealDay Pilot Program'')
December 28, 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 21, 2017, BOX Options Exchange LLC (the ``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 self-regulatory organization. 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.
---------------------------------------------------------------------------
[[Page 578]]
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange proposes to amend Rule 5050 to extend the pilot
program that lists RealDay Options (``RealDay Pilot Program''). 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 website at https://boxoptions.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 5050(f) to extend the time
period of the RealDay Pilot Program,\3\ which is currently scheduled to
expire on February 2, 2018, through February 2, 2019.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 79936 (February 2,
2017), 82 FR 9886 (February 8, 2017) (Order Granting Approval of a
Proposed Rule Change To Amend Rule 5050 Series of Options Contracts
Open for Trading To Provide for the Listing and Trading on the
Exchange of RealDay).
---------------------------------------------------------------------------
This filing does not propose any substantive changes to the RealDay
Pilot Program. In the original proposal to establish the RealDay Pilot
Program, the Exchange stated that if it were to propose an extension,
permanent approval or termination of the program, the Exchange would
submit, along with any filing proposing such amendments to the program,
a report containing an analysis of volume, open interest, and trading
patterns in RealDay Options. In addition, the Exchange stated that
pilot report would provide analysis of price volatility and trading
activity in additional option series.
Because the industry has not finished developing the technology for
clearing and settlement of RealDay Options and BOX has not launched
this product, there is no meaningful data available to compile the
Pilot Report at this time and therefore the Exchange did not file a
Pilot Report prior to this extension request. The Exchange believes it
is appropriate to extend the RealDay Pilot Program to provide time for
the industry to develop and implement the requisite technology so that
the Exchange can prepare a meaningful Pilot Report if it were to
propose any further extension, permanent approval or termination of the
program.
As with the original proposal to establish the RealDay Pilot
Program, the Exchange represents that the Pilot Report will be
submitted within two (2) months of the end of the extended pilot
period. The Pilot Report will contain the following volume and open
interest data for RealDay Options:
(1) Daily contract trading volume aggregated for all trades, for
all option series with less than 31 days until expiration;
(2) daily contract trading volume aggregated by expiration date,
for all option series with less than 31 days until expiration;
(3) daily contract trading volume for each individual series;
(4) daily open interest aggregated for all series, for all option
series with less than 31 days until expiration;
(5) daily open interest aggregated for all series by expiration
date, for all option series with less than 31 days until expiration;
(6) daily open interest for each individual series;
(7) statistics on the distribution of trade sizes;
(8) type of market participant trading (e.g., contract trading
volume for each market participant type); and
(9) 5-minute returns, level changes, and trading volume for the S&P
500 Index, VIX, SPY, IVV, and expiring RealDay options between open and
close for the first and second Wednesday of the month that is a trading
day and trading days when standard SPY options expire.
In addition to the pilot report, the Exchange would periodically
provide the Commission with interim reports of the information listed
in items (1) through (9) above as required by the Commission while the
pilot is in effect. These interim reports would also be provided on a
confidential basis.
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\4\ in general, and Section
6(b)(5) of the Act,\5\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, 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. The Exchange
believes that extending the RealDay Pilot Program promotes just and
equitable principles of trade by permitting market participants,
including market makers, institutional investors and retail investors,
to introduce new and innovative products to the marketplace. Further,
the Exchange believes that extending the RealDay Pilot Program will
allow the industry to fully develop and implement the requisite
technology for RealDay Options which will allow the Exchange to launch
the Program in order to gather the requisite data for the above
mentioned pilot report.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 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 rule change is not
designed to address any aspect of competition, whether between the
Exchange and its competitors, or among market participants. Instead,
the proposed rule change is designed to allow the RealDay Pilot Program
to continue while the industry develops the technology needed for
RealDay Options.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6) thereunder.\6\
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\6\ 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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[[Page 579]]
At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-commen[email protected]. Please include
File Number SR-BOX-2017-38 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-BOX-2017-38. 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 (https://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for 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 such filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. 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-BOX-2017-38, and should be submitted on
or before January 25, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2017-28436 Filed 1-3-18; 8:45 am]
BILLING CODE 8011-01-P
