Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Memorialize Its Order and Execution Information Into Phlx Rule 1070, 22572-22574 [2018-10256]
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22572
Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii),10 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing. The Exchange
states that such waiver will allow it to
update its rules immediately to provide
more information regarding the order
and execution information it offers and
further the protection of investors and
the public interest because it will
provide greater transparency as to the
trade detail available to members. For
this reason, the Commission believes
that waiving the 30-day operative delay
is consistent with the protection of
investors and the public interest and,
therefore, the Commission designates
the proposed rule change to be operative
upon filing.11
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-comments@
sec.gov. Please include File Number SR–
NASDAQ–2018–035 on the subject line.
Commission, 100 F Street NE,
Washington, DC 20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
All submissions should refer to File
Number SR–NASDAQ–2018–035. 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–NASDAQ–2018–035 and
should be submitted on or before June
5, 2018.
[Release No. 34–83196; File No. SR–Phlx–
2018–33]
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–10258 Filed 5–14–18; 8:45 am]
BILLING CODE 8011–01–P
daltland on DSKBBV9HB2PROD with NOTICES
• Send paper comments in triplicate
to Secretary, Securities and Exchange
20:27 May 14, 2018
Jkt 244001
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 April 27,
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
memorialize its order and execution
information into Phlx Rule 1070.
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 the
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.
1. Purpose
The Exchange proposes to
memorialize its order and execution
information into Rule 1070, entitled
9 17
VerDate Sep<11>2014
May 9, 2018.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
Paper Comments
CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
11 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).
Self-Regulatory Organizations; Nasdaq
PHLX LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Memorialize Its Order
and Execution Information Into Phlx
Rule 1070
1 15
12 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00132
Fmt 4703
Sfmt 4703
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\15MYN1.SGM
15MYN1
Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
daltland on DSKBBV9HB2PROD with NOTICES
‘‘Data Feeds.’’ The Exchange proposes to
rename this rule ‘‘Data Feeds and Trade
Information.’’ The Exchange proposes
other grammatical corrections in Rule
1070(a) as well.
Section 1070(b)
First, the Exchange proposes to adopt
a new Rule 1070(b) and relocate the CTI
description into 1070(b)(1) as this
information concerns a member’s
specific trade information as compared
to information available concerning the
Phlx Order Book, which data is
described in 1070(b). The current
description includes examples in the
first sentence which are not being
replicated within the new description,
e.g. trade corrections, trade cancels,
options directory messages, Complex
Order Strategy messages, trading action
messages, and halt and system event
messages. The Exchange is renumbering
to be more consistent throughout Rule
1070 to conform the rule. A similar
change to the numbering is being made
with this proposal with the PHLX Depth
of Market description in Rule 1070(a)(3).
The Exchange is also noting within the
CTI description that it ‘‘contains trade
details specific to that member’’ to bring
more clarity to the information being
provided.
The Exchange proposes to
memorialize TradeInfo in new Rule
1070(b)(2). The Exchange originally
noted in the TradeInfo Filing 3 that
TradeInfo permits a member to: Scan for
all orders in a particular security or all
orders of a particular type, regardless of
their status (open, canceled, executed,
etc.). A subscribing member is able to
cancel open orders at the order, port or
firm mnemonic level. TradeInfo allows
a subscribing member to scan other
order statuses, such as executed,
cancelled, broken, rejected and
suspended orders. A subscribing
member may generate reports of
execution, order or cancel information,
which can be exported into a
spreadsheet for review. TradeInfo
permits a subscribing member to
manage their order flow and mitigate
risk by giving them the ability to view
their orders and executions, as well as
the ability to perform cancels at the port
level. Last, TradeInfo allows a
subscribing member to download
records of their orders and executions
for record-keeping purposes.
The Exchange proposes to align the
description of TradeInfo on Phlx with
the description that was filed for The
Nasdaq Options Market LLC and Nasdaq
3 See Securities Exchange Act Release No. 66284
(February 1, 2012), 77 FR 6162 (February 7, 2012)
(SR–Phlx–2012–04) (‘‘TradeInfo Filing’’).
VerDate Sep<11>2014
20:27 May 14, 2018
Jkt 244001
BX, Inc., where this service is also
offered.4 The proposed description on
those markets provided that TradeInfo
permits a member to: (i) Search all
orders submitted in a particular security
or all orders of a particular type,
regardless of their status (open,
canceled, executed, etc.); (ii)
cancellation of open orders at the order,
port or firm mnemonic level; and (iii) a
view of orders and executions; and
download of orders and executions for
recordkeeping purposes. The Exchange
proposes to add to this description that
TradeInfo is a user interface, as
compared to a data stream, to add more
detail to the description. While some
descriptive language is being removed
from the rules, such as permitting a
subscribing member to scan other order
statuses, such as executed, cancelled,
broken, rejected and suspended orders,
the Exchange believes that this language
is covered in the current description in
that the text indicates that all orders
may be searched regardless of their
status. Similarly, the description which
provides that a subscribing member may
generate reports of execution, order or
cancel information, which can be
exported into a spreadsheet for review
is covered in that the Exchange notes
that a view of the orders and execution
may be downloaded. Finally, the
Exchange proposes to rename
‘‘TradeInfo’’ as ‘‘TradeInfo PHLX
Interface’’ to make it consistent with the
naming of this offering on NOM and BX.
The Exchange considers it appropriate
to memorialize the order and execution
information available on Phlx within a
rule so that members may understand
the trade information which is available
on the Exchange as it pertains to a firm’s
trading information. This data is
available to all members regarding that
members’ transactions. Pricing for all
ports is included in the Exchange’s
Pricing Schedule at VII, B.5
Rule1070(a)
The Exchange proposes minor
changes to Rule 1070(a)(1) and (2) to
change the language to indicate the Top
of PHLX Options and PHLX Orders each
separately are data feeds and removing
the ‘‘A’’ before the description. As
mentioned above, the numbering is also
being amended with the PHLX Depth of
Market description within Rule
1070(a)(3).
4 See Securities Exchange Act Release Nos. 65180
(August 22, 2011), 76 FR 53521 (August 26, 2011)
(SR–NASDAQ–2011–111); and 60826 (October 14,
2009), 74 FR 54605 (October 22, 2009) (SR–BX–
2009–062).
5 See also SR–Phlx–2018–34 (not yet published)
which proposes conforming changes to the fee
schedule.
PO 00000
Frm 00133
Fmt 4703
Sfmt 4703
22573
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’’),6 in general, and
furthers the objectives of Section 6(b)(5)
of the Act,7 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 providing greater
transparency as to the order and
execution information offered on Phlx.
The Exchange notes that it described
TradeInfo in a prior rule change.8 The
Exchange believes that memorializing
this information within a rule and
updating the information will provide
market participants with a list of
information available specific to their
trading on Phlx. The Exchange believes
that this proposal is consistent with the
Act because it provides information on
the content available to market
participants regarding the trades they
execute on Phlx.
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, rather
the Exchange is seeking to provide
greater transparency within its rules
with respect to the various order and
execution information offered on Phlx.
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 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, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
8 See note 3.
7 15
E:\FR\FM\15MYN1.SGM
15MYN1
22574
Federal Register / Vol. 83, No. 94 / Tuesday, May 15, 2018 / Notices
effective pursuant to Section 19(b)(3)(A)
of the Act 9 and Rule 19b–4(f)(6)
thereunder.10
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii),10 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing. The Exchange
states that such waiver will allow it to
update its rules immediately to provide
more information regarding the order
and execution information it offers and
further the protection of investors and
the public interest because it will
provide greater transparency as to the
trade detail available to members. For
this reason, the Commission believes
that waiving the 30-day operative delay
is consistent with the protection of
investors and the public interest and,
therefore, the Commission designates
the proposed rule change to be operative
upon filing.11
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:
daltland on DSKBBV9HB2PROD with NOTICES
9 15
U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the Exchange to give the
Commission written notice the Exchange’s 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.
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
11 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
20:27 May 14, 2018
Jkt 244001
Electronic Comments
SMALL BUSINESS ADMINISTRATION
• 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–2018–33 on the subject line.
Disaster Declaration #15509; COLORADO
Disaster Number CO–00090]
Paper Comments
AGENCY:
• 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–2018–33. 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–2018–33 and should
be submitted on or before June 5, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–10256 Filed 5–14–18; 8:45 am]
BILLING CODE 8011–01–P
Declaration of Economic Injury;
Administrative Declaration of an
Economic Injury Disaster for the State
of Colorado
U.S. Small Business
Administration.
ACTION: Notice.
This is a notice of an
Economic Injury Disaster Loan (EIDL)
declaration for the State of Colorado,
dated 05/07/2018.
Incident: Drought.
Incident Period: 01/02/2018 through
04/15/2018.
DATES: Issued on 05/07/2018.
Economic Injury (EIDL) Loan
Application Deadline Date: 02/07/2019.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW, Suite 6050,
Washington, DC 20416, (202) 205–6734.
SUPPLEMENTARY INFORMATION: Notice is
hereby given that as a result of the
Administrator’s EIDL declaration,
applications for economic injury
disaster loans may be filed at the
address listed above or other locally
announced locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: San Juan.
Contiguous Counties:
Colorado: Dolores, Hinsdale, La Plata,
Montezuma, Ouray, San Miguel.
The Interest Rates are:
SUMMARY:
Percent
Businesses and Small Agricultural
Cooperatives without Credit
Available Elsewhere ..................
Non-Profit Organizations without
Credit Available Elsewhere .......
PO 00000
CFR 200.30–3(a)(12).
Frm 00134
Fmt 4703
Sfmt 9990
2.500
The number assigned to this disaster
for economic injury is 155090.
The State which received an EIDL
Declaration # is COLORADO.
(Catalog of Federal Domestic Assistance
Number 59008)
Dated: May 7, 2018.
Linda E. McMahon,
Administrator.
[FR Doc. 2018–10361 Filed 5–14–18; 8:45 am]
12 17
3.385
BILLING CODE 8025–01–P
E:\FR\FM\15MYN1.SGM
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]]>Agencies
[Federal Register Volume 83, Number 94 (Tuesday, May 15, 2018)]
[Notices]
[Pages 22572-22574]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-10256]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83196; File No. SR-Phlx-2018-33]
Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Memorialize Its
Order and Execution Information Into Phlx Rule 1070
May 9, 2018.
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 April 27, 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 memorialize its order and execution
information into Phlx Rule 1070.
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 the
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to memorialize its order and execution
information into Rule 1070, entitled
[[Page 22573]]
``Data Feeds.'' The Exchange proposes to rename this rule ``Data Feeds
and Trade Information.'' The Exchange proposes other grammatical
corrections in Rule 1070(a) as well.
Section 1070(b)
First, the Exchange proposes to adopt a new Rule 1070(b) and
relocate the CTI description into 1070(b)(1) as this information
concerns a member's specific trade information as compared to
information available concerning the Phlx Order Book, which data is
described in 1070(b). The current description includes examples in the
first sentence which are not being replicated within the new
description, e.g. trade corrections, trade cancels, options directory
messages, Complex Order Strategy messages, trading action messages, and
halt and system event messages. The Exchange is renumbering to be more
consistent throughout Rule 1070 to conform the rule. A similar change
to the numbering is being made with this proposal with the PHLX Depth
of Market description in Rule 1070(a)(3). The Exchange is also noting
within the CTI description that it ``contains trade details specific to
that member'' to bring more clarity to the information being provided.
The Exchange proposes to memorialize TradeInfo in new Rule
1070(b)(2). The Exchange originally noted in the TradeInfo Filing \3\
that TradeInfo permits a member to: Scan for all orders in a particular
security or all orders of a particular type, regardless of their status
(open, canceled, executed, etc.). A subscribing member is able to
cancel open orders at the order, port or firm mnemonic level. TradeInfo
allows a subscribing member to scan other order statuses, such as
executed, cancelled, broken, rejected and suspended orders. A
subscribing member may generate reports of execution, order or cancel
information, which can be exported into a spreadsheet for review.
TradeInfo permits a subscribing member to manage their order flow and
mitigate risk by giving them the ability to view their orders and
executions, as well as the ability to perform cancels at the port
level. Last, TradeInfo allows a subscribing member to download records
of their orders and executions for record-keeping purposes.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 66284 (February 1,
2012), 77 FR 6162 (February 7, 2012) (SR-Phlx-2012-04) (``TradeInfo
Filing'').
---------------------------------------------------------------------------
The Exchange proposes to align the description of TradeInfo on Phlx
with the description that was filed for The Nasdaq Options Market LLC
and Nasdaq BX, Inc., where this service is also offered.\4\ The
proposed description on those markets provided that TradeInfo permits a
member to: (i) Search all orders submitted in a particular security or
all orders of a particular type, regardless of their status (open,
canceled, executed, etc.); (ii) cancellation of open orders at the
order, port or firm mnemonic level; and (iii) a view of orders and
executions; and download of orders and executions for recordkeeping
purposes. The Exchange proposes to add to this description that
TradeInfo is a user interface, as compared to a data stream, to add
more detail to the description. While some descriptive language is
being removed from the rules, such as permitting a subscribing member
to scan other order statuses, such as executed, cancelled, broken,
rejected and suspended orders, the Exchange believes that this language
is covered in the current description in that the text indicates that
all orders may be searched regardless of their status. Similarly, the
description which provides that a subscribing member may generate
reports of execution, order or cancel information, which can be
exported into a spreadsheet for review is covered in that the Exchange
notes that a view of the orders and execution may be downloaded.
Finally, the Exchange proposes to rename ``TradeInfo'' as ``TradeInfo
PHLX Interface'' to make it consistent with the naming of this offering
on NOM and BX.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release Nos. 65180 (August 22,
2011), 76 FR 53521 (August 26, 2011) (SR-NASDAQ-2011-111); and 60826
(October 14, 2009), 74 FR 54605 (October 22, 2009) (SR-BX-2009-062).
---------------------------------------------------------------------------
The Exchange considers it appropriate to memorialize the order and
execution information available on Phlx within a rule so that members
may understand the trade information which is available on the Exchange
as it pertains to a firm's trading information. This data is available
to all members regarding that members' transactions. Pricing for all
ports is included in the Exchange's Pricing Schedule at VII, B.\5\
---------------------------------------------------------------------------
\5\ See also SR-Phlx-2018-34 (not yet published) which proposes
conforming changes to the fee schedule.
---------------------------------------------------------------------------
Rule1070(a)
The Exchange proposes minor changes to Rule 1070(a)(1) and (2) to
change the language to indicate the Top of PHLX Options and PHLX Orders
each separately are data feeds and removing the ``A'' before the
description. As mentioned above, the numbering is also being amended
with the PHLX Depth of Market description within Rule 1070(a)(3).
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''),\6\ in general, and furthers the objectives of Section 6(b)(5)
of the Act,\7\ 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
providing greater transparency as to the order and execution
information offered on Phlx. The Exchange notes that it described
TradeInfo in a prior rule change.\8\ The Exchange believes that
memorializing this information within a rule and updating the
information will provide market participants with a list of information
available specific to their trading on Phlx. The Exchange believes that
this proposal is consistent with the Act because it provides
information on the content available to market participants regarding
the trades they execute on Phlx.
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\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
\8\ See note 3.
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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, rather the Exchange is
seeking to provide greater transparency within its rules with respect
to the various order and execution information offered on Phlx.
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 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, if consistent with the protection of
investors and the public interest, the proposed rule change has become
[[Page 22574]]
effective pursuant to Section 19(b)(3)(A) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice the
Exchange's 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.
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A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative for 30 days after the date of filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\10\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Exchange states that
such waiver will allow it to update its rules immediately to provide
more information regarding the order and execution information it
offers and further the protection of investors and the public interest
because it will provide greater transparency as to the trade detail
available to members. For this reason, the Commission believes that
waiving the 30-day operative delay is consistent with the protection of
investors and the public interest and, therefore, the Commission
designates the proposed rule change to be operative upon filing.\11\
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ 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).
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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 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 [email protected]. Please include
File Number SR-Phlx-2018-33 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-2018-33. 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-2018-33 and should be submitted on
or before June 5, 2018.
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\12\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-10256 Filed 5-14-18; 8:45 am]
BILLING CODE 8011-01-P
