Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Execution Protections Rule, 5287-5288 [2018-02271]

Download as PDF Federal Register / Vol. 83, No. 25 / Tuesday, February 6, 2018 / Notices to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day after publication of the notice for this proposed rule change is February 2, 2018. The Commission is extending this 45-day time period. The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,5 designates March 19, 2018, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File Number SR– BOX–2017–36). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–02269 Filed 2–5–18; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 2:00 p.m. on Thursday, February 8, 2018. PLACE: Closed Commission Hearing Room 10800. STATUS: This meeting will be closed to the public. MATTERS TO BE CONSIDERED: Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (6), (7), (8), 9(B) and (10) and 17 CFR 200.402(a)(3), (a)(5), (a)(6), (a)(7), (a)(8), (a)(9)(ii) and (a)(10), permit consideration of the scheduled matters at the closed meeting. daltland on DSKBBV9HB2PROD with NOTICES 5 Id. 6 17 Dated: February 1, 2018. Brent J. Fields, Secretary. VerDate Sep<11>2014 19:02 Feb 05, 2018 SECURITIES AND EXCHANGE COMMISSION 1. Purpose [Release No. 34–82609; File No. SR–Phlx– 2018–12] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Execution Protections Rule 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 January 24, 2018, Nasdaq PHLX LLC (‘‘Phlx’’ 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 Substance of the Proposed Rule Change The Exchange proposes to relocate Execution Protections currently located at Phlx Rule 1080(p) to new Phlx Rule 1099 and entitle the rule ‘‘Order Protections.’’ The Exchange proposes to amend certain words within the current rule text to conform the language within this Rule 1080(p). 2 17 Jkt 244001 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 15 CFR 200.30–3(a)(31). The text of the proposed rule change is available on the Exchange’s website at https://nasdaqphlx.cchwallstreet.com/, at the principal office of the Exchange, and at the Commission’s Public Reference Room. BILLING CODE 8011–01–P [FR Doc. 2018–02392 Filed 2–2–18; 11:15 am] January 31, 2018. Sunshine Act Meetings TIME AND DATE: Commissioner Peirce, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matters of the closed meeting will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; and Other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. CONTACT PERSON FOR MORE INFORMATION: For further information and to ascertain what, if any, matters have been added, deleted or postponed; please contact Brent J. Fields from the Office of the Secretary at (202) 551–5400. 5287 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00053 Fmt 4703 Sfmt 4703 The Exchange proposes to relocate Execution Protections currently located at Phlx Rule 1080(p) to new Phlx Rule 1099 and entitle the rule ‘‘Order Protections.’’ The Exchange also proposes to conform certain rule text within the current rule throughout new Rule 1099. The Exchange proposes to utilize the term ‘‘System’’ throughout new Rule 1099 instead of the terms ‘‘Phlx XL’’ or ‘‘system.’’ 3 The Exchange also proposes to remove the term ‘‘Phlx’’ and replace it with the word ‘‘Exchange.’’ These non-substantive rule changes are meant to simply conform terms within the new Rule for consistency. Locating these order protection rules within new Rule 1099 will make them easier to locate and also shorten the length of Rule 1080 for ease of reading that rule. The Exchange also proposes to update cross-references to Rule 1080(p) to Rule 1099.4 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 3 System is defined at Phlx Rule 1000(45). Exchange proposes to amend crossreferences in Rule 1082 (Firm Quotations) and Rule 1098 (Complex Orders on the System). 5 15 U.S.C. 78f(b). 6 15 U.S.C. 78f(b)(5). 4 The E:\FR\FM\06FEN1.SGM 06FEN1 5288 Federal Register / Vol. 83, No. 25 / Tuesday, February 6, 2018 / Notices to make available publicly. All submissions should refer to File Number SR–Phlx–2018–12, and should be submitted on or before February 27, 2018. trade and to protect investors and the public interest by consistently utilizing the term ‘‘System’’ throughout new Rule 1099 instead of the terms ‘‘Phlx XL’’ or ‘‘system.’’ The Exchange also proposes to remove the term ‘‘Phlx’’ and replace it with the word ‘‘Exchange.’’ The Exchange believes that this proposal is consistent with the Act because the Exchange is conforming terms within the new Rule for consistency and relocating these order protection rules within new Rule 1099 to make them easier to locate and also shorten the length of Rule 1080 for ease of reading. The Exchange also proposes to make certain formatting changes within the Rule to conform the text throughout its Rulebook. 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: [FR Doc. 2018–02271 Filed 2–5–18; 8:45 am] 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 Exchange’s proposal does not impose an undue burden on competition because the amendments conform the rule text to text throughout the Rulebook and the proposal relocates the order protection rules to a new Rule 1099 for ease of reference. 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– Phlx–2018–12 on the subject line. The Department of State will conduct an open meeting at 10:00 a.m. on Thursday, March 1, 2018, at the offices of the Radio Technical Commission for Maritime Services (RTCM), 1611 N. Kent Street, Suite 605, Arlington, VA 22209. The primary purpose of the meeting is to prepare for the fifth session of the International Maritime Organization’s (IMO) Sub-Committee on Ship Systems and Equipment to be held at the IMO Headquarters, United Kingdom, March 12–16, 2018. The agenda items to be considered include: —Adoption of the agenda —Decisions of other IMO bodies —Safety objectives and functional requirements of the Guidelines on alternative design and arrangements for SOLAS chapters II–1 and III —Develop new requirements for ventilation of survival crafts —Uniform implementation of paragraph 6.1.1.3 of the LSA Code —Consequential work related to the new Code for ships operating in polar waters —Review SOLAS chapter II–2 and associated codes to minimize the incidence and consequences of fires on ro-ro spaces and special category spaces of new and existing ro-ro passenger ships —Amendments to the FSS Code for CO2 pipelines in under-deck passageways —Amendments to MSC.1/Circ.13151 —Requirements for onboard lifting appliances and anchor handling winches —Revised SOLAS regulations II 1/13 and II–1/13–1 and other related regulations for new ships —Unified interpretation of provisions of IMO safety, security, and environment-related Conventions —Development of guidelines for cold ironing of ships and of amendments 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. daltland on DSKBBV9HB2PROD with NOTICES 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 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may 7 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give 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. The Exchange has satisfied this requirement. 8 17 VerDate Sep<11>2014 19:02 Feb 05, 2018 Jkt 244001 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–Phlx–2018–12. 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 PO 00000 Frm 00054 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Eduardo A. Aleman, Assistant Secretary. BILLING CODE 8011–01–P DEPARTMENT OF STATE [Public Notice: 10304] Notice of Public Meeting 9 17 E:\FR\FM\06FEN1.SGM CFR 200.30–3(a)(12). 06FEN1

Agencies

[Federal Register Volume 83, Number 25 (Tuesday, February 6, 2018)]
[Notices]
[Pages 5287-5288]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-02271]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82609; File No. SR-Phlx-2018-12]


Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Relocate the 
Execution Protections Rule

January 31, 2018.
    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 January 24, 2018, Nasdaq PHLX LLC (``Phlx'' 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 Substance 
of the Proposed Rule Change

    The Exchange proposes to relocate Execution Protections currently 
located at Phlx Rule 1080(p) to new Phlx Rule 1099 and entitle the rule 
``Order Protections.'' The Exchange proposes to amend certain words 
within the current rule text to conform the language within this Rule 
1080(p).
    The text of the proposed rule change is available on the Exchange's 
website at https://nasdaqphlx.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
    The Exchange proposes to relocate Execution Protections currently 
located at Phlx Rule 1080(p) to new Phlx Rule 1099 and entitle the rule 
``Order Protections.'' The Exchange also proposes to conform certain 
rule text within the current rule throughout new Rule 1099.
    The Exchange proposes to utilize the term ``System'' throughout new 
Rule 1099 instead of the terms ``Phlx XL'' or ``system.'' \3\ The 
Exchange also proposes to remove the term ``Phlx'' and replace it with 
the word ``Exchange.'' These non-substantive rule changes are meant to 
simply conform terms within the new Rule for consistency.
---------------------------------------------------------------------------

    \3\ System is defined at Phlx Rule 1000(45).
---------------------------------------------------------------------------

    Locating these order protection rules within new Rule 1099 will 
make them easier to locate and also shorten the length of Rule 1080 for 
ease of reading that rule.
    The Exchange also proposes to update cross-references to Rule 
1080(p) to Rule 1099.\4\
---------------------------------------------------------------------------

    \4\ The Exchange proposes to amend cross-references in Rule 1082 
(Firm Quotations) and Rule 1098 (Complex Orders on the System).
---------------------------------------------------------------------------

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

[[Page 5288]]

trade and to protect investors and the public interest by consistently 
utilizing the term ``System'' throughout new Rule 1099 instead of the 
terms ``Phlx XL'' or ``system.'' The Exchange also proposes to remove 
the term ``Phlx'' and replace it with the word ``Exchange.'' The 
Exchange believes that this proposal is consistent with the Act because 
the Exchange is conforming terms within the new Rule for consistency 
and relocating these order protection rules within new Rule 1099 to 
make them easier to locate and also shorten the length of Rule 1080 for 
ease of reading.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange also proposes to make certain formatting changes 
within the Rule to conform the text throughout its Rulebook.

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 Exchange's proposal does 
not impose an undue burden on competition because the amendments 
conform the rule text to text throughout the Rulebook and the proposal 
relocates the order protection rules to a new Rule 1099 for ease of 
reference.

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\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give 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. 
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    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 ru[email protected]. Please include 
File Number SR-Phlx-2018-12 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-Phlx-2018-12. 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-Phlx-2018-12, and should be submitted on 
or before February 27, 2018.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-02271 Filed 2-5-18; 8:45 am]
 BILLING CODE 8011-01-P
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