Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend and Reorganize Chapter IV of the GEMX Schedule of Fees, 26726-26728 [2018-12321]
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26726
Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices
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 9 and
subparagraph (f)(6) of Rule 19b–4
thereunder.10
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, Rule
19b–4(f)(6)(iii) 12 permits the
Commission to 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 proposed
rule change may become effective and
operative immediately upon filing. The
Exchange states that it believes the
waiver will further the protection of
investors and the public interest
because it will provide greater
transparency as to various ports
available to market participants. The
Exchange further states that the
proposed rule change will bring greater
clarity to the Schedule of Fees. The
Commission believes that waiver of the
30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change as operative upon
filing.13
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,
9 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.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 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).
amozie on DSK3GDR082PROD with NOTICES1
10 17
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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–
ISE–2018–48 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–ISE–2018–48. 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–ISE–2018–48 and should be
submitted on or before June 29, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–12322 Filed 6–7–18; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83369; File No. SR–GEMX–
2018–18]
Self-Regulatory Organizations; Nasdaq
GEMX, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend and
Reorganize Chapter IV of the GEMX
Schedule of Fees
June 4, 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 May 22,
2018, Nasdaq GEMX, LLC (‘‘GEMX’’ 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 amend and
reorganize Chapter IV of the GEMX
Schedule of Fees.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqgemx.cchwallstreet.com/,
at the principal office of the Exchange,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Chapters IV of the GEMX Schedule of
Fees to: (i) Eliminate the Table of
BILLING CODE 8011–01–P
1 15
14 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00086
Fmt 4703
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
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Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices
Contents; (ii) relocate the Port Fees
currently in Section IV, E to Section IV,
C, retitle these fees ‘‘Ports and Other
Services’’ and amend and reorganize the
current port fees; and (iv) reserve
Section IV, Part E. Each change will be
described in more detail below. The
Exchange believes that the proposed
amendments to the Schedule of Fees
will provide more clarity as to the
current fees. The Exchange notes that no
fee changes are being introduced with
this rule change. The Exchange is
simply reorganizing its rules to conform
to other Nasdaq affiliate markets by
aligning the location and description of
its rules on each market.
amozie on DSK3GDR082PROD with NOTICES1
Table of Contents
The Exchange proposes to eliminate
the Table of Contents in the GEMX
Schedule of Fees. The Table Contents
are unnecessary. The website where the
GEMX rules are listed 3 contains
hyperlinks and a skeleton of the
available rules within the site and
enables market participants to view all
rules in that section.
Port Fees
The Exchange currently lists all Port
Fees within Chapter IV, Part E. The
Exchange proposes to relocate the Port
Fees to Chapter VI, Part C, which is
currently reserved, and retitle those fees
as ‘‘Ports and Other Services.’’ The
Exchange believes that this title more
accurately describes the types of fees
contained in this chapter. The Exchange
proposes to restructure the port fees.
First, the Exchange proposes to add
language at the beginning of this new
chapter to state, ‘‘The below charges are
assessed by GEMX for connectivity to
GEMX.’’ The Exchange believes that this
sentence makes clear that the fees apply
to GEMX. The Exchange proposes to
define a port as ‘‘a logical connection or
session that enables a market participant
to send inbound messages and/or
receive outbound messages from the
Exchange using various communication
protocols.’’ The Exchange believes this
definition will assist members in
distinguishing ports from other
offerings.
The Exchange proposes to restructure
the port fees into 4 categories. The
Exchange proposes to list order and
quote protocols first, order and
execution offerings next, followed by
data ports and other ports as the last
section. The Exchange proposes to list
data offerings that are offered at no cost.
The Exchange believes that aligning its
offerings, where relevant, with other
3 GEMX
rules are located at: https://nasdaqgemx.c
chwallstreet.com/.
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16:53 Jun 07, 2018
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affiliated markets 4 will provide more
transparency as to the offerings for
market participants.
The Exchange proposes to add a new
section (i) and include the following
introductory sentence, ‘‘The following
order and quote protocols are available
on GEMX.’’ The Exchange proposes to
list the order entry protocol port fees for
FIX, SQF, SQF Purge Port and OTTO in
this section. The fees are not being
amended, the existing fees are being
relocated into new section (i).
The Exchange proposes to add a new
section (ii) and include the following
introductory sentence, ‘‘The following
order and execution information is
available to Members.’’ The Exchange
intends to list other port or interface
information into this section that are
available to GEMX Members. The
Exchange is relocating the CTI and FIX
DROP port fees. No changes are being
made to those fees. The Exchange also
proposes to list TradeInfo GEMX
Interface into this section. The Exchange
has recently filed to establish this
Interface within the GEMX rules.5 The
Exchange proposes to note this interface
is available on GEMX at no cost.
The Exchange proposes to add a new
section (iii) and include the following
language, ‘‘The following data port fees
apply in connection with data
subscriptions pursuant to GEMX Rules
at Chapter V. These ports are available
to non-GEMX Members and GEMX
Members.’’ Today, GEMX does not
assess a fee for these ports outlined in
new section (iii). Similar to other
Nasdaq Affiliated Markets the Exchange
proposes to list all of the ports that
Members and Non-Members obtain
today at no cost. The Exchange believes
that listing these ports in addition to the
data subscriptions will bring more
transparency to the Schedule of Fees.
The Exchange proposes to add a new
section (iv) entitled ‘‘Other ports’’ and
relocate the Disaster Recovery Ports into
this section. The Exchange also
proposes to make clear that a Disaster
Recovery Port is available for any port
listed in proposed sections (i)–(iii).
The Exchange proposes to reserve
current Chapter IV, Part E.
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
4 The Exchange offers various services across its
6 affiliated options markets, Nasdaq Phlx LLC,
Nasdaq BX, Inc., The Nasdaq Options Market LLC,
Nasdaq GEMX, LLC, Nasdaq MRX, LLC and Nasdaq
ISE, LLC (‘‘Nasdaq Affiliated Markets’’).
5 See SR–GEMX–2018–17 (not yet published).
6 15 U.S.C. 78f(b).
PO 00000
Frm 00087
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26727
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 ports offered on
GEMX.
The Exchange’s proposal to remove
the Table of Contents, relocate the Port
Fees, retitle and restructure those fees
and reserve Chapter IV, Part E are
administrative. These changes are
consistent with the protection of
investor and the public interest because
the amendments are intended to bring
greater clarity to the Rulebook. The
Exchange’s proposal to reorganize the
port fees into sections and include
pricing for ports that are offered at no
cost is also consistent with the
protection of investor and the public
interest because it will bring greater
transparency to the Exchange’s current
offerings.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,8 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
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 ports offered
on GEMX.
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 9 and
7 15
U.S.C. 78f(b)(5).
U.S.C. 78f(b)(8).
9 15 U.S.C. 78s(b)(3)(A)(iii).
8 15
E:\FR\FM\08JNN1.SGM
08JNN1
26728
Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices
subparagraph (f)(6) of Rule 19b–4
thereunder.10
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, Rule
19b–4(f)(6)(iii) 12 permits the
Commission to 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 proposed
rule change may become effective and
operative immediately upon filing. The
Exchange states that it believes the
waiver will further the protection of
investors and the public interest
because it will provide greater
transparency as to various ports
available to market participants. The
Exchange further states that the
proposed rule change will bring greater
clarity to the Schedule of Fees. The
Commission believes that waiver of the
30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the 30-day
operative delay and designates the
proposed rule change as operative upon
filing.13
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
amozie on DSK3GDR082PROD with NOTICES1
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:
10 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.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 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
16:53 Jun 07, 2018
Jkt 241001
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–2018–18 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–2018–18. 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–GEMX–2018–18 and
should be submitted on or before June
29, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–12321 Filed 6–7–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83365; File No. SR–GEMX–
2018–17]
Self-Regulatory Organizations; Nasdaq
GEMX, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Memorialize Order and
Execution Information Into GEMX Rule
718
June 4, 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 May 23,
2018, Nasdaq GEMX, LLC (‘‘GEMX’’ 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. 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 GEMX Rule 718,
entitled ‘‘Data Feeds.’’
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqgemx.cchwallstreet.com/,
at the principal office of the Exchange,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to add order
and execution information into GEMX
1 15
14 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00088
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E:\FR\FM\08JNN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
08JNN1
]]>Agencies
[Federal Register Volume 83, Number 111 (Friday, June 8, 2018)]
[Notices]
[Pages 26726-26728]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-12321]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83369; File No. SR-GEMX-2018-18]
Self-Regulatory Organizations; Nasdaq GEMX, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend and
Reorganize Chapter IV of the GEMX Schedule of Fees
June 4, 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 May 22, 2018, Nasdaq GEMX, LLC (``GEMX'' 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 amend and reorganize Chapter IV of the
GEMX Schedule of Fees.
The text of the proposed rule change is available on the Exchange's
website at https://nasdaqgemx.cchwallstreet.com/, at the principal
office of the Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Chapters IV of the GEMX Schedule of
Fees to: (i) Eliminate the Table of
[[Page 26727]]
Contents; (ii) relocate the Port Fees currently in Section IV, E to
Section IV, C, retitle these fees ``Ports and Other Services'' and
amend and reorganize the current port fees; and (iv) reserve Section
IV, Part E. Each change will be described in more detail below. The
Exchange believes that the proposed amendments to the Schedule of Fees
will provide more clarity as to the current fees. The Exchange notes
that no fee changes are being introduced with this rule change. The
Exchange is simply reorganizing its rules to conform to other Nasdaq
affiliate markets by aligning the location and description of its rules
on each market.
Table of Contents
The Exchange proposes to eliminate the Table of Contents in the
GEMX Schedule of Fees. The Table Contents are unnecessary. The website
where the GEMX rules are listed \3\ contains hyperlinks and a skeleton
of the available rules within the site and enables market participants
to view all rules in that section.
---------------------------------------------------------------------------
\3\ GEMX rules are located at: https://nasdaqgemx.cchwallstreet.com/.
---------------------------------------------------------------------------
Port Fees
The Exchange currently lists all Port Fees within Chapter IV, Part
E. The Exchange proposes to relocate the Port Fees to Chapter VI, Part
C, which is currently reserved, and retitle those fees as ``Ports and
Other Services.'' The Exchange believes that this title more accurately
describes the types of fees contained in this chapter. The Exchange
proposes to restructure the port fees. First, the Exchange proposes to
add language at the beginning of this new chapter to state, ``The below
charges are assessed by GEMX for connectivity to GEMX.'' The Exchange
believes that this sentence makes clear that the fees apply to GEMX.
The Exchange proposes to define a port as ``a logical connection or
session that enables a market participant to send inbound messages and/
or receive outbound messages from the Exchange using various
communication protocols.'' The Exchange believes this definition will
assist members in distinguishing ports from other offerings.
The Exchange proposes to restructure the port fees into 4
categories. The Exchange proposes to list order and quote protocols
first, order and execution offerings next, followed by data ports and
other ports as the last section. The Exchange proposes to list data
offerings that are offered at no cost. The Exchange believes that
aligning its offerings, where relevant, with other affiliated markets
\4\ will provide more transparency as to the offerings for market
participants.
---------------------------------------------------------------------------
\4\ The Exchange offers various services across its 6 affiliated
options markets, Nasdaq Phlx LLC, Nasdaq BX, Inc., The Nasdaq
Options Market LLC, Nasdaq GEMX, LLC, Nasdaq MRX, LLC and Nasdaq
ISE, LLC (``Nasdaq Affiliated Markets'').
---------------------------------------------------------------------------
The Exchange proposes to add a new section (i) and include the
following introductory sentence, ``The following order and quote
protocols are available on GEMX.'' The Exchange proposes to list the
order entry protocol port fees for FIX, SQF, SQF Purge Port and OTTO in
this section. The fees are not being amended, the existing fees are
being relocated into new section (i).
The Exchange proposes to add a new section (ii) and include the
following introductory sentence, ``The following order and execution
information is available to Members.'' The Exchange intends to list
other port or interface information into this section that are
available to GEMX Members. The Exchange is relocating the CTI and FIX
DROP port fees. No changes are being made to those fees. The Exchange
also proposes to list TradeInfo GEMX Interface into this section. The
Exchange has recently filed to establish this Interface within the GEMX
rules.\5\ The Exchange proposes to note this interface is available on
GEMX at no cost.
---------------------------------------------------------------------------
\5\ See SR-GEMX-2018-17 (not yet published).
---------------------------------------------------------------------------
The Exchange proposes to add a new section (iii) and include the
following language, ``The following data port fees apply in connection
with data subscriptions pursuant to GEMX Rules at Chapter V. These
ports are available to non-GEMX Members and GEMX Members.'' Today, GEMX
does not assess a fee for these ports outlined in new section (iii).
Similar to other Nasdaq Affiliated Markets the Exchange proposes to
list all of the ports that Members and Non-Members obtain today at no
cost. The Exchange believes that listing these ports in addition to the
data subscriptions will bring more transparency to the Schedule of
Fees.
The Exchange proposes to add a new section (iv) entitled ``Other
ports'' and relocate the Disaster Recovery Ports into this section. The
Exchange also proposes to make clear that a Disaster Recovery Port is
available for any port listed in proposed sections (i)-(iii).
The Exchange proposes to reserve current Chapter IV, Part E.
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 ports offered on GEMX.
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\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
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The Exchange's proposal to remove the Table of Contents, relocate
the Port Fees, retitle and restructure those fees and reserve Chapter
IV, Part E are administrative. These changes are consistent with the
protection of investor and the public interest because the amendments
are intended to bring greater clarity to the Rulebook. The Exchange's
proposal to reorganize the port fees into sections and include pricing
for ports that are offered at no cost is also consistent with the
protection of investor and the public interest because it will bring
greater transparency to the Exchange's current offerings.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\8\ 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 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 ports offered on GEMX.
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\8\ 15 U.S.C. 78f(b)(8).
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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 \9\ and
[[Page 26728]]
subparagraph (f)(6) of Rule 19b-4 thereunder.\10\
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\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 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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A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally
does not become operative prior to 30 days after the date of the
filing. However, Rule 19b-4(f)(6)(iii) \12\ permits the Commission to
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 proposed
rule change may become effective and operative immediately upon filing.
The Exchange states that it believes the waiver will further the
protection of investors and the public interest because it will provide
greater transparency as to various ports available to market
participants. The Exchange further states that the proposed rule change
will bring greater clarity to the Schedule of Fees. The Commission
believes that waiver of the 30-day operative delay is consistent with
the protection of investors and the public interest. Therefore, the
Commission hereby waives the 30-day operative delay and designates the
proposed rule change as operative upon filing.\13\
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\11\ 17 CFR 240.19b-4(f)(6).
\12\ 17 CFR 240.19b-4(f)(6)(iii).
\13\ 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: (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-GEMX-2018-18 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-2018-18. 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-GEMX-2018-18 and should be submitted on
or before June 29, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-12321 Filed 6-7-18; 8:45 am]
BILLING CODE 8011-01-P
