Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Correct a Typographical Error Within Chapter VI, Section 9 of the BX Rules, 17461-17462 [2018-08154]
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Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices
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. 2018–08156 Filed 4–18–18; 8:45 am]
BILLING CODE 8011–01–P
• 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–2018–11 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–2018–11. 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–2018–11and should
be submitted on or before May 10, 2018.
[Release No. 34–83047; File No. SR–BX–
2018–012]
Self-Regulatory Organizations; Nasdaq
BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Correct a
Typographical Error Within Chapter VI,
Section 9 of the BX Rules
April 13, 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 April 10,
2018, Nasdaq BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) 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
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 correct a
typographical error within BX Rule
Chapter VI, Section 9.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqbx.cchwallstreet.com/, at
the principal office of the Exchange, and
at the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
17:49 Apr 18, 2018
Jkt 244001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
The purpose of this rule change is
amend Chapter VI, Section 9, entitled
‘‘Price Improvement Auction
(‘‘PRISM’’)’’ at Section 9(i)(C). The
Exchange proposes to amend the
following sentence:
If the PRISM Order is for the account of a
broker dealer or any other person or entity
that is not a Public Customer and such order
is for 50 option contracts of more, or if the
difference between the NBBO is greater than
$0.01, the Initiating Participant must stop the
entire PRISM Order at a price that is the
better of: (i) The BX BBO price improved by
at least the Minimum Increment on the same
side of the market as the PRISM Order, or (ii)
the PRISM Order’s limit price (if the order is
a limit order), provided in either case that
such price is at or better than the NBBO.
The Exchange proposes to replace the
‘‘of’’ with an ‘‘or.’’ The Exchange
believes that amending the rule will
bring greater clarity to the rule.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,3 in general, and furthers the
objectives of Section 6(b)(5) of the Act,4
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest by correcting a
typographical error within the rule to
bring greater clarity to the rule. The
Exchange inadvertently inserted the
word ‘‘of’’ instead of ‘‘or’’ within
Chapter VI, Section 9(i)(C). This is a
non-substantive correction to the
current rule.
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 inadvertently inserted the
word ‘‘of’’ instead of ‘‘or’’ within
Chapter VI, Section 9(i)(C). This is a
non-substantive correction to the
current rule.
5 17
3 15
1 15
VerDate Sep<11>2014
the most significant aspects of such
statements.
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
daltland on DSKBBV9HB2PROD with NOTICES
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.5
Eduardo A. Aleman,
Assistant Secretary.
17461
PO 00000
Frm 00103
Fmt 4703
4 15
Sfmt 4703
E:\FR\FM\19APN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
19APN1
17462
Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / 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
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 5 and
subparagraph (f)(6) of Rule 19b–4
thereunder.6
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
BX–2018–012 on the subject line.
daltland on DSKBBV9HB2PROD with NOTICES
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–BX–2018–012. This file
5 15
U.S.C. 78s(b)(3)(A)(iii).
6 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 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.
VerDate Sep<11>2014
17:49 Apr 18, 2018
Jkt 244001
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–BX–2018–012 and should
be submitted on or before May 10, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–08154 Filed 4–18–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83046; File No. SR–
NASDAQ–2018–012]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Order
Granting Approval of a Proposed Rule
Change To List and Trade, Under
Nasdaq Rule 5705, the Shares of the
Horizons Russell 2000 Covered Call
ETF
April 13, 2018.
I. Introduction
On February 9, 2018, The Nasdaq
Stock Market LLC (‘‘Nasdaq’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
7 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00104
Fmt 4703
Sfmt 4703
(‘‘Commission’’), pursuant to Section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 a proposed rule change to
list and trade shares (‘‘Shares’’) of the
Horizons Russell 2000 Covered Call ETF
(‘‘Fund’’). The proposed rule change
was published for comment in the
Federal Register on February 28, 2018.3
The Commission received no comments
on the proposal. This order approves the
proposed rule change.
II. Description of the Proposed Rule
Change
The Exchange proposes to list and
trade Shares of the Fund under Rule
5705, which governs the listing and
trading of Index Fund Shares on the
Exchange. The Shares will be offered by
the Fund, which will be a passively
managed exchange-traded fund (‘‘ETF’’)
that seeks to track the performance of
the CBOE Russell 2000 30-Delta
BuyWrite V2 Index (‘‘Benchmark
Index’’).4 The Fund is a series of the
Horizons ETF Trust I (‘‘Trust’’).5
Horizons ETF Management (US), LLC
will serve as the investment adviser
(‘‘Adviser’’) to the Fund.6 Foreside Fund
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 82761
(Feb. 22, 2018), 83 FR 8719 (‘‘Notice’’).
4 The Benchmark Index methodology is available
at: https://www.cboe.com/products/strategybenchmark-indexes/buywrite-indexes/cboe-russell2000-30-delta-buywrite-index-bxrd. The Chicago
Board Options Exchange, Incorporated (n/k/a Cboe
Exchange, Inc.) (‘‘CBOE’’) is the index calculation
agent for the Benchmark Index.
5 The Trust is registered with the Commission as
an open-end management investment company and
has filed a post-effective amendment to its
registration statement on Form N–1A (‘‘Registration
Statement’’) on behalf of the Fund. See Registration
Statement for the Trust, filed on June 22, 2017 (File
No. 333–183155). In addition, the Commission has
issued an order granting certain exemptive relief to
the Trust under the 1940 Act. See Investment
Company Act Release No. 31961 (Jan. 19, 2016)
(File No. 812–14461) (‘‘Exemptive Order’’).
6 The Exchange represents that the Adviser is not
a broker-dealer; however, it is affiliated with two
broker-dealers. A fire wall exists around the
respective personnel at the Adviser and affiliated
broker-dealers who have access to information
concerning changes and adjustments to the
composition and/or changes to the Fund’s portfolio.
In addition, such personnel will be subject to
procedures designed to prevent the use and
dissemination of material non-public information
regarding the Fund’s portfolio. The Exchange
represents that in the event (a) the Adviser, any subadviser, or the Index Provider (as discussed herein)
becomes registered as a broker-dealer or is newly
affiliated with a broker dealer, or (b) any new
adviser, sub-adviser, or Index Provider is a
registered broker-dealer or becomes affiliated with
a broker dealer, then the Adviser, sub-adviser or
Index Provider will implement a fire wall with
respect to its relevant personnel or such broker
dealer affiliate, as applicable, regarding access to
information concerning the composition or changes
to the portfolio or concerning changes and
adjustments to the Benchmark Index and will be
2 17
E:\FR\FM\19APN1.SGM
19APN1
]]>Agencies
[Federal Register Volume 83, Number 76 (Thursday, April 19, 2018)]
[Notices]
[Pages 17461-17462]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08154]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83047; File No. SR-BX-2018-012]
Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Correct a
Typographical Error Within Chapter VI, Section 9 of the BX Rules
April 13, 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 April 10, 2018, Nasdaq BX, Inc. (``BX'' or ``Exchange'') 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 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 correct a typographical error within BX
Rule Chapter VI, Section 9.
The text of the proposed rule change is available on the Exchange's
website at https://nasdaqbx.cchwallstreet.com/, at the principal office
of the Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of this rule change is amend Chapter VI, Section 9,
entitled ``Price Improvement Auction (``PRISM'')'' at Section 9(i)(C).
The Exchange proposes to amend the following sentence:
If the PRISM Order is for the account of a broker dealer or any
other person or entity that is not a Public Customer and such order
is for 50 option contracts of more, or if the difference between the
NBBO is greater than $0.01, the Initiating Participant must stop the
entire PRISM Order at a price that is the better of: (i) The BX BBO
price improved by at least the Minimum Increment on the same side of
the market as the PRISM Order, or (ii) the PRISM Order's limit price
(if the order is a limit order), provided in either case that such
price is at or better than the NBBO.
The Exchange proposes to replace the ``of'' with an ``or.'' The
Exchange believes that amending the rule will bring greater clarity to
the rule.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\3\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\4\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest by correcting a typographical error within the rule to
bring greater clarity to the rule. The Exchange inadvertently inserted
the word ``of'' instead of ``or'' within Chapter VI, Section 9(i)(C).
This is a non-substantive correction to the current rule.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f(b).
\4\ 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 Exchange inadvertently
inserted the word ``of'' instead of ``or'' within Chapter VI, Section
9(i)(C). This is a non-substantive correction to the current rule.
[[Page 17462]]
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 \5\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A)(iii).
\6\ 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 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 [email protected]. Please include
File Number SR-BX-2018-012 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.
All submissions should refer to File Number SR-BX-2018-012. 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-BX-2018-012 and should be submitted on
or before May 10, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08154 Filed 4-18-18; 8:45 am]
BILLING CODE 8011-01-P
