Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule Concerning MSCI EAFE Index Options and MSCI Emerging Markets Index Options, 31823-31824 [2018-14549]
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Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices
100 F Street NE, Washington, DC
20549–2736
sradovich on DSK3GMQ082PROD with NOTICES
Extension:
Form 40–F, SEC File No. 270–335, OMB
Control No. 3235–0381
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Form 40–F (17 CFR 249.240f) is used
by certain Canadian issuers to register a
class of securities under Section 12 of
the Securities Exchange Act of 1934
(‘‘Exchange Act’’) (15 U.S.C. 78l) or as
an annual report pursuant to Section
13(a) or 15 (d) of the Exchange Act (15
U.S.C. 78m(a) or 78o(d)). The
information required in the Form 40–F
is used by investors in making
investment decisions with respect to the
securities of such Canadian companies.
We estimate that Form 40–F takes
approximately 429.93 hours per
response and is filed by approximately
132 respondents. We estimate that 25%
of the 429.93 hours per response (107.48
hours) is prepared by the issuer for a
total reporting burden of 14,187 (107.48
hours per response × 132 responses).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden imposed by the collection
of information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid
control number.
Please direct your written comment to
Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Candace
Kenner, 100 F Street NE, Washington,
DC 20549 or send an email to: PRA_
Mailbox@sec.gov.
VerDate Sep<11>2014
18:00 Jul 06, 2018
Jkt 244001
Dated: July 3, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–14653 Filed 7–6–18; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–83584; File No. SR–CBOE–
2018–049]
Self-Regulatory Organizations; Cboe
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend Its Fees
Schedule Concerning MSCI EAFE
Index Options and MSCI Emerging
Markets Index Options
July 2, 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 July 2,
2018, Cboe Exchange, Inc. (the
‘‘Exchange’’ or ‘‘Cboe Options’’) filed
with the Securities and Exchange
Commission (the ‘‘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 amend its
Fees Schedule. The text of the proposed
rule change is available on the
Exchange’s website (https://
www.cboe.com/AboutCBOE/CBOELegal
RegulatoryHome.aspx), at the
Exchange’s Office of the Secretary, 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.
PO 00000
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00109
Fmt 4703
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
1 15
31823
Sfmt 4703
The Exchange proposes to amend its
Fees Schedule, effective July 2, 2018.
Particularly, the Exchange is proposing
to adopt a customer transaction fee for
MSCI EAFE Index (MXEA) options and
MSCI Emerging Markets Index (MXEF)
options (‘‘MSCI Options’’). Currently,
the Exchange does not assess any
customer transaction fees for MSCI
options. The Exchange is proposing to
adopt a $0.25 per contract fee for
customer transaction fees for
transactions in MSCI Options. The
Exchange notes that the proposed fee
amount is in line with customer
transaction fees assessed on other index
products.3
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with Section 6(b)(4)
of the Act,5 which provides that
Exchange rules may provide for the
equitable allocation of reasonable dues,
fees, and other charges among its
Trading Permit Holders and other
persons using its facilities.
In particular, the proposed change is
reasonable because the proposed fee
amount is within the range of amounts
assessed on other index products (e.g.,
OEX Weeklys, XEO Weeklys and Sector
Indexes).6 The proposed change to the
customer MSCI options transaction fees
is equitable and not unfairly
discriminatory because it applies
uniformly to all customer transactions
in MSCI options. The Exchange also
believes it’s reasonable, equitable and
not unfairly discriminatory that the
proposed fee amount is still less than
the amount assessed for MSCI options
for other market participants because
Customer order flow enhances liquidity
on the Exchange for the benefit of all
market participants.
3 See Cboe Options Fees Schedule, Index Options
Rate Table and Specified Proprietary Index Options
Rate Table.
4 15 U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4).
6 See Cboe Options Fees Schedule, Specified
Proprietary Index Options Rate Table—Underlying
Symbol List A and Sector Indexes.
E:\FR\FM\09JYN1.SGM
09JYN1
31824
Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
Exchange does not believe that the
proposed change to customer MSCI
options transaction fees will cause any
unnecessary burden on intramarket
competition because, while customers
are assessed different, and often lower,
fee rates than other market participants,
Customer order flow enhances liquidity
on the Exchange for the benefit of all
market participants. Moreover, the
options industry has a long history of
providing preferential pricing to
Customers, and the Exchange’s current
Fees Schedule currently does so in
many places. Additionally, the
proposed Customer fee amount will be
applied equally to all Customers
(meaning that all Customers will be
assessed the same amount for MSCI
Options). The Exchange does not
believe that the proposed changes to the
customer MSCI Options transaction fees
will cause any unnecessary burden on
intermarket competition because the
change only affects trading on Cboe
Options. To the extent that the proposed
changes make Cboe Options a more
attractive marketplace for market
participants at other exchanges, such
market participants are welcome to
become Cboe Options market
participants.
sradovich on DSK3GMQ082PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 7 and paragraph (f) of Rule
19b–4 8 thereunder. 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
7 15
8 17
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
VerDate Sep<11>2014
18:00 Jul 06, 2018
Jkt 244001
change 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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–14549 Filed 7–6–18; 8:45 am]
BILLING CODE P
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
Proposed Collection; Comment
Request
• 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–
CBOE–2018–049 on the subject line.
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE, Washington, DC
20549–2736
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–CBOE–2018–049. 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–CBOE–2018–049 and
should be submitted on or before July
30, 2018.
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
Extension:
Form 10–Q, SEC File No. 270–49, OMB
Control No. 3235–0070
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the office of
Management and Budget for approval of
extensions on the following:
Form 10–Q (17 CFR 249.308a) is filed
by issuers of securities to satisfy their
quarterly reporting obligations pursuant
to Section 13 or 15(d) of the Exchange
Act (‘‘Exchange Act’’) (15 U.S.C. 78m or
78o(d)). The information provided by
Form 10–Q is intended to ensure the
adequacy of information available to
investors about an issuer. Form 10–Q
takes approximately 187.43 hours per
response to prepare and is filed by
approximately 22,907 respondents. We
estimated that 75% of the
approximately 187.43 hours per
response (140.57 hours) is prepared by
the company for an annual reporting
burden of 3,220,037 hours (140.57 hours
per response x 22,907 responses).
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
9 17
E:\FR\FM\09JYN1.SGM
CFR 200.30–3(a)(12).
09JYN1
]]>Agencies
[Federal Register Volume 83, Number 131 (Monday, July 9, 2018)]
[Notices]
[Pages 31823-31824]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14549]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83584; File No. SR-CBOE-2018-049]
Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend
Its Fees Schedule Concerning MSCI EAFE Index Options and MSCI Emerging
Markets Index Options
July 2, 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 July 2, 2018, Cboe Exchange, Inc. (the ``Exchange'' or ``Cboe
Options'') filed with the Securities and Exchange Commission (the
``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 amend its Fees Schedule. The text of the
proposed rule change is available on the Exchange's website (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's
Office of the Secretary, 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 its Fees Schedule, effective July 2,
2018. Particularly, the Exchange is proposing to adopt a customer
transaction fee for MSCI EAFE Index (MXEA) options and MSCI Emerging
Markets Index (MXEF) options (``MSCI Options''). Currently, the
Exchange does not assess any customer transaction fees for MSCI
options. The Exchange is proposing to adopt a $0.25 per contract fee
for customer transaction fees for transactions in MSCI Options. The
Exchange notes that the proposed fee amount is in line with customer
transaction fees assessed on other index products.\3\
---------------------------------------------------------------------------
\3\ See Cboe Options Fees Schedule, Index Options Rate Table and
Specified Proprietary Index Options Rate Table.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\4\ Specifically, the
Exchange believes the proposed rule change is consistent with Section
6(b)(4) of the Act,\5\ which provides that Exchange rules may provide
for the equitable allocation of reasonable dues, fees, and other
charges among its Trading Permit Holders and other persons using its
facilities.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
In particular, the proposed change is reasonable because the
proposed fee amount is within the range of amounts assessed on other
index products (e.g., OEX Weeklys, XEO Weeklys and Sector Indexes).\6\
The proposed change to the customer MSCI options transaction fees is
equitable and not unfairly discriminatory because it applies uniformly
to all customer transactions in MSCI options. The Exchange also
believes it's reasonable, equitable and not unfairly discriminatory
that the proposed fee amount is still less than the amount assessed for
MSCI options for other market participants because Customer order flow
enhances liquidity on the Exchange for the benefit of all market
participants.
---------------------------------------------------------------------------
\6\ See Cboe Options Fees Schedule, Specified Proprietary Index
Options Rate Table--Underlying Symbol List A and Sector Indexes.
---------------------------------------------------------------------------
[[Page 31824]]
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 that is not necessary or appropriate
in furtherance of the purposes of the Act. The Exchange does not
believe that the proposed change to customer MSCI options transaction
fees will cause any unnecessary burden on intramarket competition
because, while customers are assessed different, and often lower, fee
rates than other market participants, Customer order flow enhances
liquidity on the Exchange for the benefit of all market participants.
Moreover, the options industry has a long history of providing
preferential pricing to Customers, and the Exchange's current Fees
Schedule currently does so in many places. Additionally, the proposed
Customer fee amount will be applied equally to all Customers (meaning
that all Customers will be assessed the same amount for MSCI Options).
The Exchange does not believe that the proposed changes to the customer
MSCI Options transaction fees will cause any unnecessary burden on
intermarket competition because the change only affects trading on Cboe
Options. To the extent that the proposed changes make Cboe Options a
more attractive marketplace for market participants at other exchanges,
such market participants are welcome to become Cboe Options market
participants.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \7\ and paragraph (f) of Rule 19b-4 \8\
thereunder. 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 change should be approved or
disapproved.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------
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-CBOE-2018-049 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-CBOE-2018-049. 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-CBOE-2018-049 and should be submitted on
or before July 30, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-14549 Filed 7-6-18; 8:45 am]
BILLING CODE P
