Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Data Feeds Offered to MRX Members, 17459-17461 [2018-08156]
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Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices
designates the proposed rule change as
operative upon filing.16
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.
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–GEMX–2018–12 and
should be submitted on or before May
10, 2018.
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Eduardo A. Aleman,
Assistant Secretary.
daltland on DSKBBV9HB2PROD with NOTICES
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–
GEMX–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–GEMX–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
16 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
VerDate Sep<11>2014
17:49 Apr 18, 2018
Jkt 244001
[FR Doc. 2018–08157 Filed 4–18–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83049; File No. SR–MRX–
2018–11]
Self-Regulatory Organizations; Nasdaq
MRX, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Adopt Data Feeds
Offered to MRX Members
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 4,
2018, Nasdaq MRX, LLC (‘‘MRX’’ 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 adopt data
feeds offered to MRX Members.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqmrx.cchwallstreet.com/, at
the principal office of the Exchange, and
at the Commission’s Public Reference
Room.
17 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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Frm 00101
Fmt 4703
Sfmt 4703
17459
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 the proposed rule
change is to adopt data feeds for MRX.
The Exchange proposes to amend Rule
718, which is currently reserved, to
rename the rule ‘‘Data Feeds’’ and
include a description of each data feed
within the rule. The data feed offerings
are as follows: Nasdaq MRX Depth of
Market Data Feed (‘‘Depth of Market
Feed’’), the Nasdaq MRX Order Feed
(‘‘Order Feed’’), the Nasdaq MRX Top
Quote Feed (‘‘Top Quote Feed’’) and the
Nasdaq MRX Trades Feed (‘‘Trades
Feed’’). A description of each data
offering follows below.
Depth of Market Feed
The Depth of Market Data Feed
provides aggregate quotes and orders at
the top five price levels on MRX, and
provides subscribers with a
consolidated view of tradable prices
beyond the BBO, showing additional
liquidity and enhancing transparency
for MRX traded options. The data
provided for each option series includes
the symbols (series and underlying
security), put or call indicator,
expiration date, the strike price of the
series, and whether the option series is
available for trading on ISE and
identifies if the series is available for
closing transactions only. In addition,
subscribers are provided with total
aggregate quantity, Public Customer
aggregate quantity, Priority Customer
aggregate quantity, price, and side (i.e.,
bid/ask). This information is provided
for each of the top five price levels on
the Depth Feed. The feed also provides
order imbalances on opening/reopening.
Order Feed
The Order feed provides information
on new orders resting on the book (e.g.
price, quantity and market participant
E:\FR\FM\19APN1.SGM
19APN1
17460
Federal Register / Vol. 83, No. 76 / Thursday, April 19, 2018 / Notices
capacity). In addition, the feed also
announces all auctions. The data
provided for each option series includes
the symbols (series and underlying
security), put or call indicator,
expiration date, the strike price of the
series, and whether the option series is
available for trading on MRX and
identifies if the series is available for
closing transactions only. The feed also
provides order imbalances on opening/
reopening.
Top Quote Feed
The Top Quote Feed calculates and
disseminates MRX’s best bid and offer
position, with aggregated size (including
total size in aggregate, Public Customer
size in the aggregate and Priority
Customer size in the aggregate), based
on displayable order and quote interest
in the System. The feed also provides
last trade information along with
opening price, daily trading volume,
high and low prices for the day. The
data provided for each option series
includes the symbols (series and
underlying security), put or call
indicator, expiration date, the strike
price of the series, and whether the
option series is available for trading on
MRX and identifies if the series is
available for closing transactions only.
The feed also provides order imbalances
on opening/reopening.
daltland on DSKBBV9HB2PROD with NOTICES
Trades Feed
The Trades Feed displays last trade
information along with opening price,
daily trading volume, high and low
prices for the day. The data provided for
each option series includes the symbols
(series and underlying security), put or
call indicator, expiration date, the strike
price of the series, and whether the
option series is available for trading on
MRX and identifies if the series is
available for closing transactions only.
These data offerings are currently
being offered at no cost to any market
participant. The Exchange believes that
adopting these data feeds and codifying
them within the Exchange’s Rulebook
will bring greater transparency to its
Rules as well as the data which is
available on the Exchange.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Securities Exchange
Act of 1934 (the ‘‘Act’’), in general, and
furthers the objectives of Section 6(b)(5)
of the Act, in particular, in that it is
designed to promote just and equitable
principles of trade, to remove
impediments to and perfect the
mechanism for a free and open market
and a national market system, and, in
VerDate Sep<11>2014
17:49 Apr 18, 2018
Jkt 244001
general, to protect investors and the
public interest by adopting MRX’s data
feed offerings and codifying them into a
Rule for the benefit of all investors. The
Exchange permits any market
participant to receive these data
offerings at no cost. The Exchange
believes that the proposed rule change
is consistent with the protection of
investors and the public interest as it
describes information relating to the
data available on the Exchange for the
benefit of its members and adds greater
transparency to these offerings.
Adopting Regulation NMS, the
Commission granted self-regulatory
organizations and broker-dealers
increased authority and flexibility to
offer new and unique market data to the
public. It was believed that this
authority would expand the amount of
data available to consumers, and also
spur innovation and competition for the
provision of market data. The Exchange
believes that this proposal is in keeping
with those principles by promoting
increased transparency through the
dissemination of more useful
proprietary data and also by clarifying
its availability to market participants.
The Exchange is making a voluntary
decision to make this data available as
it is not required to furnish this data
under the Act. The Exchange chooses to
make the data available as proposed in
order to improve market quality, to
attract order flow, and to increase
transparency. The Exchange notes that
the data provided on each of these feeds
is the same as data provided by Nasdaq
GEMX, LLC. The Exchange believes that
is in the public interest to make similar
information available with respect to
options traded on MRX. The data
offerings are designed to promote just
and equitable principles of trade by
providing all subscribers with data that
should enable them to make informed
decisions by using the data to assess
current market conditions that directly
affect such decisions. The market data
provided by each of these feeds removes
impediments to, and is designed to
further perfect, the mechanisms of a free
and open market and a national market
system by making the market more
transparent and accessible to market
participants making routing decisions
concerning their options orders.
The market data products are also
designed to protect investors and the
public interest by providing data to
subscribers that is already currently
available on other exchanges and will
enable MRX to compete with such other
exchanges, thereby offering market
participants with additional data in
order to seek the market center with the
best price and the most liquidity on
PO 00000
Frm 00102
Fmt 4703
Sfmt 4703
which to execute their transactions, all
to the benefit of investors and the public
interest, and to the marketplace as a
whole.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act, the Exchange does not believe
that the proposed rule change will
impose any burden on intermarket or
intra-market competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The data feed
offerings are available to any market
participant at no cost. The Exchange’s
proposal seeks to adopt and codify the
data offerings in a Rule for ease of
reference and transparency. The
Exchange believes that the proposed
market data products will enhance
competition in the U.S. options markets
by providing similar data to that which
is currently provided on other options
exchanges.
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 3 and
subparagraph (f)(6) of Rule 19b–4
thereunder.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: (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.
3 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 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.
4 17
E:\FR\FM\19APN1.SGM
19APN1
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
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4 15
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E:\FR\FM\19APN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
19APN1
]]>Agencies
[Federal Register Volume 83, Number 76 (Thursday, April 19, 2018)]
[Notices]
[Pages 17459-17461]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-08156]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83049; File No. SR-MRX-2018-11]
Self-Regulatory Organizations; Nasdaq MRX, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Adopt Data Feeds
Offered to MRX Members
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 4, 2018, Nasdaq MRX, LLC (``MRX'' 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 adopt data feeds offered to MRX Members.
The text of the proposed rule change is available on the Exchange's
website at https://nasdaqmrx.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 the proposed rule change is to adopt data feeds for
MRX. The Exchange proposes to amend Rule 718, which is currently
reserved, to rename the rule ``Data Feeds'' and include a description
of each data feed within the rule. The data feed offerings are as
follows: Nasdaq MRX Depth of Market Data Feed (``Depth of Market
Feed''), the Nasdaq MRX Order Feed (``Order Feed''), the Nasdaq MRX Top
Quote Feed (``Top Quote Feed'') and the Nasdaq MRX Trades Feed
(``Trades Feed''). A description of each data offering follows below.
Depth of Market Feed
The Depth of Market Data Feed provides aggregate quotes and orders
at the top five price levels on MRX, and provides subscribers with a
consolidated view of tradable prices beyond the BBO, showing additional
liquidity and enhancing transparency for MRX traded options. The data
provided for each option series includes the symbols (series and
underlying security), put or call indicator, expiration date, the
strike price of the series, and whether the option series is available
for trading on ISE and identifies if the series is available for
closing transactions only. In addition, subscribers are provided with
total aggregate quantity, Public Customer aggregate quantity, Priority
Customer aggregate quantity, price, and side (i.e., bid/ask). This
information is provided for each of the top five price levels on the
Depth Feed. The feed also provides order imbalances on opening/
reopening.
Order Feed
The Order feed provides information on new orders resting on the
book (e.g. price, quantity and market participant
[[Page 17460]]
capacity). In addition, the feed also announces all auctions. The data
provided for each option series includes the symbols (series and
underlying security), put or call indicator, expiration date, the
strike price of the series, and whether the option series is available
for trading on MRX and identifies if the series is available for
closing transactions only. The feed also provides order imbalances on
opening/reopening.
Top Quote Feed
The Top Quote Feed calculates and disseminates MRX's best bid and
offer position, with aggregated size (including total size in
aggregate, Public Customer size in the aggregate and Priority Customer
size in the aggregate), based on displayable order and quote interest
in the System. The feed also provides last trade information along with
opening price, daily trading volume, high and low prices for the day.
The data provided for each option series includes the symbols (series
and underlying security), put or call indicator, expiration date, the
strike price of the series, and whether the option series is available
for trading on MRX and identifies if the series is available for
closing transactions only. The feed also provides order imbalances on
opening/reopening.
Trades Feed
The Trades Feed displays last trade information along with opening
price, daily trading volume, high and low prices for the day. The data
provided for each option series includes the symbols (series and
underlying security), put or call indicator, expiration date, the
strike price of the series, and whether the option series is available
for trading on MRX and identifies if the series is available for
closing transactions only.
These data offerings are currently being offered at no cost to any
market participant. The Exchange believes that adopting these data
feeds and codifying them within the Exchange's Rulebook will bring
greater transparency to its Rules as well as the data which is
available on the Exchange.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Securities Exchange Act of 1934 (the ``Act''),
in general, and furthers the objectives of Section 6(b)(5) of the Act,
in particular, in that it is designed to promote just and equitable
principles of trade, to remove impediments to and perfect the mechanism
for a free and open market and a national market system, and, in
general, to protect investors and the public interest by adopting MRX's
data feed offerings and codifying them into a Rule for the benefit of
all investors. The Exchange permits any market participant to receive
these data offerings at no cost. The Exchange believes that the
proposed rule change is consistent with the protection of investors and
the public interest as it describes information relating to the data
available on the Exchange for the benefit of its members and adds
greater transparency to these offerings.
Adopting Regulation NMS, the Commission granted self-regulatory
organizations and broker-dealers increased authority and flexibility to
offer new and unique market data to the public. It was believed that
this authority would expand the amount of data available to consumers,
and also spur innovation and competition for the provision of market
data. The Exchange believes that this proposal is in keeping with those
principles by promoting increased transparency through the
dissemination of more useful proprietary data and also by clarifying
its availability to market participants. The Exchange is making a
voluntary decision to make this data available as it is not required to
furnish this data under the Act. The Exchange chooses to make the data
available as proposed in order to improve market quality, to attract
order flow, and to increase transparency. The Exchange notes that the
data provided on each of these feeds is the same as data provided by
Nasdaq GEMX, LLC. The Exchange believes that is in the public interest
to make similar information available with respect to options traded on
MRX. The data offerings are designed to promote just and equitable
principles of trade by providing all subscribers with data that should
enable them to make informed decisions by using the data to assess
current market conditions that directly affect such decisions. The
market data provided by each of these feeds removes impediments to, and
is designed to further perfect, the mechanisms of a free and open
market and a national market system by making the market more
transparent and accessible to market participants making routing
decisions concerning their options orders.
The market data products are also designed to protect investors and
the public interest by providing data to subscribers that is already
currently available on other exchanges and will enable MRX to compete
with such other exchanges, thereby offering market participants with
additional data in order to seek the market center with the best price
and the most liquidity on which to execute their transactions, all to
the benefit of investors and the public interest, and to the
marketplace as a whole.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act, the Exchange does
not believe that the proposed rule change will impose any burden on
intermarket or intra-market competition that is not necessary or
appropriate in furtherance of the purposes of the Act. The data feed
offerings are available to any market participant at no cost. The
Exchange's proposal seeks to adopt and codify the data offerings in a
Rule for ease of reference and transparency. The Exchange believes that
the proposed market data products will enhance competition in the U.S.
options markets by providing similar data to that which is currently
provided on other options exchanges.
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 \3\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\4\
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\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 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.
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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.
[[Page 17461]]
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-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.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\5\
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\5\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-08156 Filed 4-18-18; 8:45 am]
BILLING CODE 8011-01-P
