Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To List and Trade Shares of the First Trust Bitcoin Strategy ETF and the First Trust Inverse Bitcoin Strategy ETF, Each a Series of the First Trust Exchange-Traded Fund VII, Under Rule 14.11(i), Managed Fund Shares, 3789 [2018-01416]

Download as PDF Federal Register / Vol. 83, No. 18 / Friday, January 26, 2018 / Notices professionals who will generally submit a higher number of orders than Priority Customers. The Exchange therefore believes that it is equitable and not unfairly discriminatory to provide more favorable pricing to Priority Customer orders in the one instance described above. 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 fee change is an overhaul of the Exchange’s pricing model that is designed to incentivize members to bring additional order flow to the Exchange, and create a more active and quality market in MRX-listed options. The Exchange therefore believes that the proposed rule change is a product of the competitive environment in the options industry. The Exchange operates in a highly competitive market in which market participants can readily favor competing venues if they deem fee levels at a particular venue to be excessive, or rebate opportunities available at other venues to be more favorable. In such an environment, the Exchange must continually adjust its fees to remain competitive with other exchanges. Because competitors are free to modify their own fees in response, and because market participants may readily adjust their order routing practices, the Exchange believes that the degree to which fee changes in this market may impose any burden on competition is extremely limited. daltland on DSKBBV9HB2PROD with NOTICES C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act,25 and Rule 19b–4(f)(2) 26 thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in 25 15 26 17 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). VerDate Sep<11>2014 20:14 Jan 25, 2018 Jkt 244001 3789 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. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.27 Eduardo A. Aleman, Assistant Secretary. 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: [FR Doc. 2018–01353 Filed 1–25–18; 8:45 am] 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– MRX–2018–01 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–MRX–2018–01. 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 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–MRX–2018–01 and should be submitted on or before February 16, 2018. PO 00000 Frm 00117 Fmt 4703 Sfmt 9990 BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–82561; File No. SR– CboeBZX–2017–021] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To List and Trade Shares of the First Trust Bitcoin Strategy ETF and the First Trust Inverse Bitcoin Strategy ETF, Each a Series of the First Trust Exchange-Traded Fund VII, Under Rule 14.11(i), Managed Fund Shares January 22, 2018. On December 19, 2017, Cboe BZX Exchange, Inc. (‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade shares of the First Trust Bitcoin Strategy ETF and the First Trust Inverse Bitcoin Strategy ETF, each a series of the First Trust Exchange-Traded Fund VII, under Rule 14.11(i), Managed Fund Shares. The proposed rule change was published for comment in the Federal Register on January 8, 2018.3 The Commission received three comment letters on the proposed rule change.4 On January 19, 2018, the Exchange withdrew the proposed rule change (SR–CboeBZX–2017–021). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.5 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–01416 Filed 1–25–18; 8:45 am] BILLING CODE 8011–01–P 27 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 82429 (Jan. 2, 2018), 83 FR 929 (Jan. 8, 2018). 4 See Letters from Anita Desai (Jan. 4, 2018); Carl Summersett (Jan. 4, 2018); and Stephen Knell (Jan. 9, 2018). All comments on the proposed rule change are available on the Commission’s website at: https://www.sec.gov/comments/sr-cboebzx-2017021/cboebzx2017021.htm. 5 17 CFR 200.30–3(a)(12). 1 15 E:\FR\FM\26JAN1.SGM 26JAN1

Agencies

[Federal Register Volume 83, Number 18 (Friday, January 26, 2018)]
[Notices]
[Page 3789]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-01416]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82561; File No. SR-CboeBZX-2017-021]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Withdrawal of a Proposed Rule Change To List and Trade Shares of the 
First Trust Bitcoin Strategy ETF and the First Trust Inverse Bitcoin 
Strategy ETF, Each a Series of the First Trust Exchange-Traded Fund 
VII, Under Rule 14.11(i), Managed Fund Shares

January 22, 2018.
    On December 19, 2017, Cboe BZX Exchange, Inc. (``Exchange'') filed 
with the Securities and Exchange Commission (``Commission''), pursuant 
to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Exchange 
Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to list 
and trade shares of the First Trust Bitcoin Strategy ETF and the First 
Trust Inverse Bitcoin Strategy ETF, each a series of the First Trust 
Exchange-Traded Fund VII, under Rule 14.11(i), Managed Fund Shares. The 
proposed rule change was published for comment in the Federal Register 
on January 8, 2018.\3\ The Commission received three comment letters on 
the proposed rule change.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 82429 (Jan. 2, 
2018), 83 FR 929 (Jan. 8, 2018).
    \4\ See Letters from Anita Desai (Jan. 4, 2018); Carl Summersett 
(Jan. 4, 2018); and Stephen Knell (Jan. 9, 2018). All comments on 
the proposed rule change are available on the Commission's website 
at: https://www.sec.gov/comments/sr-cboebzx-2017-021/cboebzx2017021.htm.
---------------------------------------------------------------------------

    On January 19, 2018, the Exchange withdrew the proposed rule change 
(SR-CboeBZX-2017-021).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-01416 Filed 1-25-18; 8:45 am]
 BILLING CODE 8011-01-P
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