Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make a Number of Non-Substantive Changes to the Rulebook, 43711-43713 [2018-18426]
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Federal Register / Vol. 83, No. 166 / Monday, August 27, 2018 / Notices
Commission to consider matters related
to negotiated service agreement(s). The
request(s) may propose the addition or
removal of a negotiated service
agreement from the market dominant or
the competitive product list, or the
modification of an existing product
currently appearing on the market
dominant or the competitive product
list.
Section II identifies the docket
number(s) associated with each Postal
Service request, the title of each Postal
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request. For each
request, the Commission appoints an
officer of the Commission to represent
the interests of the general public in the
proceeding, pursuant to 39 U.S.C. 505
(Public Representative). Section II also
establishes comment deadline(s)
pertaining to each request.
The public portions of the Postal
Service’s request(s) can be accessed via
the Commission’s website (https://
www.prc.gov). Non-public portions of
the Postal Service’s request(s), if any,
can be accessed through compliance
with the requirements of 39 CFR
3007.301.1
The Commission invites comments on
whether the Postal Service’s request(s)
in the captioned docket(s) are consistent
with the policies of title 39. For
request(s) that the Postal Service states
concern market dominant product(s),
applicable statutory and regulatory
requirements include 39 U.S.C. 3622, 39
U.S.C. 3642, 39 CFR part 3010, and 39
CFR part 3020, subpart B. For request(s)
that the Postal Service states concern
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
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II. Docketed Proceeding(s)
1. Docket No(s).: MC2018–212 and
CP2018–294; Filing Title: USPS Request
to Add Priority Mail Express Contract
64 to Competitive Product List and
Notice of Filing Materials Under Seal;
Filing Acceptance Date: August 21,
2018; Filing Authority: 39 U.S.C. 3642,
39 CFR 3020.30 et seq., and 39 CFR
3015.5; Public Representative: Curtis E.
Kidd; Comments Due: August 29, 2018.
1 See Docket No. RM2018–3, Order Adopting
Final Rules Relating to Non-Public Information,
June 27, 2018, Attachment A at 19–22 (Order No.
4679).
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This Notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2018–18475 Filed 8–24–18; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–83895; File No. SR–BOX–
2018–27]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Make a
Number of Non-Substantive Changes
to the Rulebook
August 21, 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 August
10, 2018, BOX Options Exchange LLC
(the ‘‘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 self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to make a
number of non-substantive changes to
the rulebook. The text of the proposed
rule change is available from the
principal office of the Exchange, at the
Commission’s Public Reference Room
and also on the Exchange’s internet
website at https://boxoptions.com.
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
self-regulatory organization 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 self-regulatory organization has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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43711
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange is proposing to make a
number of non-substantive changes to
the rulebook. Currently, the Exchange’s
rulebook is singularly focused on the
trading of options. The Exchange is now
proposing to amend certain sections of
the rulebook that do not specifically
apply to the trading of options in order
to provide broader rules that apply to
Participants of the Exchange in general.3
The Exchange believes these changes
are necessary to provide the Exchange
with greater flexibility.
First, the Exchange is proposing to
amend the definitions of ‘‘Options
Participant’’ and ‘‘Participant’’ in Rule
100(a)(41). Specifically, the Exchange is
proposing to amend the definitions in
order to cover Participants of the
Exchange regardless of whether they
participate in the trading of options.
Additionally, the Exchange is proposing
that the definition clarify that
Participants register with the Exchange
for purposes of participating in trading
on ‘‘a facility of the Exchange.’’ 4 The
Exchange notes that another options
exchange uses similar non-options
specific language.5
Next, the Exchange is replacing the
term ‘‘Options Participant’’ with
‘‘Participant’’ in a number of rules as
outlined below. Certain Exchange rules
are not options specific and therefore
the Exchange believes it is appropriate
to replace ‘‘Options Participant’’ with
‘‘Participant’’ to provide more general
coverage. The proposed change will
clarify that these Exchange rules apply
to Participants of the Exchange
regardless of whether they participate in
the trading of options.6
The Exchange proposes to amend its
rules as it relates to usage of the term
‘‘Options Participant’’ as follows:
• The Exchange proposes to replace
‘‘Options Participant’’ with
‘‘Participant’’ in Rule 100(a)(4) which
defines associated person or a person
associated with a Participant.
3 For example, Exchange rules dealing with
membership apply to all Participants of the
Exchange as opposed to rules related to trading on
BOX, which is product-specific.
4 BOX is an options trading facility of the
Exchange.
5 See Nasdaq ISE Rule 100(a)(30) defining a
Member as an organization that has been approved
to exercise trading rights associated with Exchange
Rights.
6 The Exchange notes that the Options facility is
the only facility of the Exchange. If the Exchange
decides trade other products it will first file a
proposal with the Commission.
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Federal Register / Vol. 83, No. 166 / Monday, August 27, 2018 / Notices
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rule 1060 (Exchange’s
Cost of Defending Legal Proceedings).7
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 2000 (Right,
Privileges, and Duties of Options
Participants), 2010 (Obligations of
Options Participants, BOX and the
Exchange), 2020 (Participant Eligibility
and Registration), 2040 (Restrictions),
IM–2040–1, 2050 (Application
Procedures for Options Participants or
to become an Associated Person of a
Participant), 2060 (Revocation of
Options Participant Status or
Association with a Participant), 2070
(Voluntary Termination of Rights as an
Options Participant), 2080 (Dues,
Assessments and Other Charges), and
2090 (Affiliation between Exchange and
an Options Participant).8
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 3000 (Just and
Equitable Principles of Trade), IM–
3000–1, 3010 (Adherence to Law), 3020
(Sharing Offices and Wire Connections),
3040 (False Statements), 3050
(Manipulation), 3060 (Gratuities), 3070
(Conduct and Compliance with the
Rules), 3080 (Rumors), 3090 (Prevention
of the Misuse of Material Nonpublic
Information), 3100 (Disciplinary Action
by Other Organizations), 3110 (Other
Restrictions on Participants), 3180
(Mandatory Systems Testing), and 3220
(Disruptive Quoting and Trading
Activity Prohibited).9
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 4160 (Transfer of
Accounts), 4190 (Public Customer
Complaints), and 4200 (Telephone
Solicitation).10
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 10000
(Maintenance, Retention and Furnishing
of Books, Records and Other
Information), 10020 (Financial Reports),
10030 (Audits), 10040 (Automated
Submission of Trade Data), 10050
(Regulatory Cooperation), and 10070
7 See
proposed changes to Rule 1060(a).
proposed changes to Rules 2000, 2010,
2020(a), 2040(a), 2040(f), IM–2040–1, 2050(a)–(e),
and (g), 2060, 2070, 2080, 2090. The Exchange notes
that is also replacing ‘‘Options Participant’’ with
‘‘Participant’’ in the titles of rules 2050, 2060, 2070,
and 2090.
9 See proposed changes to Rules 3000(a), IM–
3000–1, 3010, 3020, 3040, 3050(a) and (b), 3060,
3070(a), 3080, 3090(a), and (c)–(e), 3100, 3110,
3180(a)–(c), 3220(a).
10 See proposed changes to Rules 4160(a),
4160(h), 4160(i), 4190(c) and (d), 4200(c) and (d).
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8 See
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(Anti-Money Laundering Compliance
Program).11
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 10200 (Minimum
Requirements), 10210 (Early Warning’’
Notification Requirements), and 10220
(Power of CRO to Impose
Restrictions).12
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 11000
(Imposition of Suspension), 11010
(Investigation Following Suspension),
11020 (Reinstatement), and 11040
(Termination of Rights by
Suspension).13
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rules 12000
(Disciplinary Jurisdiction), 12010
(Requirement to Furnish Information),
12020 (Investigation), 12030 (Letters of
Consent), 12040 (Charges), 12060
(Hearing), 12110 (Judgement and
Sanction), 12120 (Procedural Matters),
and Rule 12160 (Expedited Suspension
Provision).14
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rule 13000 (Scope of
Series).15
• The Exchange is proposing to
replace ‘‘Options Participant’’ with
‘‘Participant’’ in Rule 14000
(Arbitration).16
Lastly, the Exchange is proposing to
amend Rule 2040(e)(3). Specifically, the
Exchange proposes to remove the term
‘‘BOX’’ and replace it with ‘‘a facility of
the Exchange.’’ The Exchange notes that
BOX is a facility of the Exchange and
therefore the Exchange is not proposing
to substantively change the rule.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),17 in general, and Section 6(b)(5)
of the Act,18 in particular, in that it is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
11 See proposed changes to Rules 10000(a)–(c),
10020, 10030(a)–(c), 10040(a)–(d), 10050(c) and (d),
10070(a) and (b).
12 See proposed changes to Rules 10200, 10210,
10220.
13 See proposed changes to Rules 11000(a) and
(b), 11010(a) and (b), 11020(a) and (c), 11040.
14 See proposed changes to Rules 12000(a)–(c),
12010(a), 12020, 12030(a), 12040(a), 12060(b), (e)
and (f), 12110(a), (c) and (d), 12120(a), 12160(a).
15 See proposed changes to Rule 13000.
16 See proposed changes to Rule 14000(b), (c) and
(e).
17 15 U.S.C. 78f(b).
18 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00079
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trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general to protect investors and the
public interest.
The Exchange believes that the
proposed rule change would remove
impediments to and perfect the
mechanism of a free and open market
and a national market system by
ensuring that market participants can
easily navigate, understand and comply
with the Exchange’s rulebook. The
Exchange believes that the proposed
rule change enables the Exchange to
continue to enforce the Exchange’s
rules. The Exchange believes that none
of the proposed changes discussed
herein alter the application of any rules.
As such, the proposed amendments
would foster cooperation and
coordination with persons engaged in
facilitating transactions in securities and
would remove impediments to and
perfect the mechanism of a free and
open market and a national exchange
system. Further, the Exchange believes
that, by ensuring the rulebook
accurately reflects the intention of the
Exchange’s rules, the proposed rule
change reduces potential investor or
market participant confusion.
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. In this regard
and as indicated above, the Exchange
notes that the proposed changes will not
alter any of the Exchange’s rules.
Therefore, the proposed changes will
have no impact on competition as they
are not designed to address any
competitive issues but rather are
designed to make non-substantive
changes.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule does not (i)
significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
E:\FR\FM\27AUN1.SGM
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Federal Register / Vol. 83, No. 166 / Monday, August 27, 2018 / Notices
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, provided that the selfregulatory organization has given 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,19 the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 20 and
Rule 19b–4(f)(6) thereunder.21
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:
amozie on DSK3GDR082PROD with NOTICES1
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–
BOX–2018–27 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–BOX–2018–27. 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
19 The
Exchange has fulfilled this requirement.
U.S.C. 78s(b)(3)(A).
21 17 CFR 240.19b–4(f)(6).
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, on official business
days between the hours of 10:00 a.m.
and 3:00 p.m., located at 100 F Street
NE, Washington, DC 20549. Copies of
such 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–BOX–2018–27 and should
be submitted on or before September 17,
2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.22
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–18426 Filed 8–24–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
33206; 812–14918]
Cushing Asset Management, LP et al.
August 21, 2018.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice.
AGENCY:
Notice of an application for an order
under section 6(c) of the Investment
Company Act of 1940 (the ‘‘Act’’) for an
exemption from sections 2(a)(32),
5(a)(1), 22(d), and 22(e) of the Act and
rule 22c–1 under the Act, under
sections 6(c) and 17(b) of the Act for an
exemption from sections 17(a)(1) and
17(a)(2) of the Act, and under section
12(d)(1)(J) for an exemption from
sections 12(d)(1)(A) and 12(d)(1)(B) of
the Act. The requested order would
permit (a) index-based series of certain
open-end management investment
companies (‘‘Funds’’) to issue shares
redeemable in large aggregations
(‘‘Creation Units’’); (b) secondary market
transactions in Fund shares to occur at
negotiated market prices rather than at
20 15
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22 17
PO 00000
CFR 200.30–3(a)(12).
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43713
net asset value (‘‘NAV’’); (c) certain
Funds to pay redemption proceeds,
under certain circumstances, more than
seven days after the tender of shares for
redemption; (d) certain affiliated
persons of a Fund to deposit securities
into, and receive securities from, the
Fund in connection with the purchase
and redemption of Creation Units; (e)
certain registered management
investment companies and unit
investment trusts outside of the same
group of investment companies as the
Funds (‘‘Funds of Funds’’) to acquire
shares of the Funds; and (f) certain
Funds to issue Shares in less than
Creation Unit size to investors
participating in a distribution
reinvestment program.
APPLICANTS: Cushing ETF Trust (the
‘‘Trust’’), a Delaware statutory trust
which will register under the Act as an
open-end management investment
company with multiple series, Cushing
Asset Management, LP (the ‘‘Adviser’’),
a Texas limited partnership registered as
an investment adviser under the
Investment Advisers Act of 1940, and
Quasar Distributors, LLC (the
‘‘Distributor’’), a Delaware limited
liability company and broker-dealer
registered under the Securities
Exchange Act of 1934 (‘‘Exchange Act’’).
FILING DATES: The application was filed
on June 8, 2018 and amended on July
25, 2018.
HEARING OR NOTIFICATION OF HEARING: An
order granting the requested relief will
be issued unless the Commission orders
a hearing. Interested persons may
request a hearing by writing to the
Commission’s Secretary and serving
applicants with a copy of the request,
personally or by mail. Hearing requests
should be received by the Commission
by 5:30 p.m. on September 17, 2018,
and should be accompanied by proof of
service on applicants, in the form of an
affidavit, or for lawyers, a certificate of
service. Pursuant to rule 0–5 under the
Act, hearing requests should state the
nature of the writer’s interest, any facts
bearing upon the desirability of a
hearing on the matter, the reason for the
request, and the issues contested.
Persons who wish to be notified of a
hearing may request notification by
writing to the Commission’s Secretary.
ADDRESSES: Secretary, Securities and
Exchange Commission, 100 F Street NE,
Washington, DC 20549–1090;
Applicants: The Trust and the Adviser,
8117 Preston Road, Suite 440, Dallas,
Texas 75225, and the Distributor, 777
East Wisconsin Avenue, 6th Floor,
Milwaukee, Wisconsin 53202.
FOR FURTHER INFORMATION CONTACT:
Benjamin Kalish, Attorney-Adviser, at
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]]>Agencies
[Federal Register Volume 83, Number 166 (Monday, August 27, 2018)]
[Notices]
[Pages 43711-43713]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-18426]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-83895; File No. SR-BOX-2018-27]
Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To Make
a Number of Non-Substantive Changes to the Rulebook
August 21, 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 August 10, 2018, BOX Options Exchange LLC (the ``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 self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule 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 make a number of non-substantive changes
to the rulebook. The text of the proposed rule change is available from
the principal office of the Exchange, at the Commission's Public
Reference Room and also on the Exchange's internet website at https://boxoptions.com.
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 self-regulatory organization
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 self-regulatory organization
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 is proposing to make a number of non-substantive
changes to the rulebook. Currently, the Exchange's rulebook is
singularly focused on the trading of options. The Exchange is now
proposing to amend certain sections of the rulebook that do not
specifically apply to the trading of options in order to provide
broader rules that apply to Participants of the Exchange in general.\3\
The Exchange believes these changes are necessary to provide the
Exchange with greater flexibility.
---------------------------------------------------------------------------
\3\ For example, Exchange rules dealing with membership apply to
all Participants of the Exchange as opposed to rules related to
trading on BOX, which is product-specific.
---------------------------------------------------------------------------
First, the Exchange is proposing to amend the definitions of
``Options Participant'' and ``Participant'' in Rule 100(a)(41).
Specifically, the Exchange is proposing to amend the definitions in
order to cover Participants of the Exchange regardless of whether they
participate in the trading of options. Additionally, the Exchange is
proposing that the definition clarify that Participants register with
the Exchange for purposes of participating in trading on ``a facility
of the Exchange.'' \4\ The Exchange notes that another options exchange
uses similar non-options specific language.\5\
---------------------------------------------------------------------------
\4\ BOX is an options trading facility of the Exchange.
\5\ See Nasdaq ISE Rule 100(a)(30) defining a Member as an
organization that has been approved to exercise trading rights
associated with Exchange Rights.
---------------------------------------------------------------------------
Next, the Exchange is replacing the term ``Options Participant''
with ``Participant'' in a number of rules as outlined below. Certain
Exchange rules are not options specific and therefore the Exchange
believes it is appropriate to replace ``Options Participant'' with
``Participant'' to provide more general coverage. The proposed change
will clarify that these Exchange rules apply to Participants of the
Exchange regardless of whether they participate in the trading of
options.\6\
---------------------------------------------------------------------------
\6\ The Exchange notes that the Options facility is the only
facility of the Exchange. If the Exchange decides trade other
products it will first file a proposal with the Commission.
---------------------------------------------------------------------------
The Exchange proposes to amend its rules as it relates to usage of
the term ``Options Participant'' as follows:
The Exchange proposes to replace ``Options Participant''
with ``Participant'' in Rule 100(a)(4) which defines associated person
or a person associated with a Participant.
[[Page 43712]]
The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rule 1060 (Exchange's Cost of
Defending Legal Proceedings).\7\
---------------------------------------------------------------------------
\7\ See proposed changes to Rule 1060(a).
---------------------------------------------------------------------------
The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 2000 (Right, Privileges,
and Duties of Options Participants), 2010 (Obligations of Options
Participants, BOX and the Exchange), 2020 (Participant Eligibility and
Registration), 2040 (Restrictions), IM-2040-1, 2050 (Application
Procedures for Options Participants or to become an Associated Person
of a Participant), 2060 (Revocation of Options Participant Status or
Association with a Participant), 2070 (Voluntary Termination of Rights
as an Options Participant), 2080 (Dues, Assessments and Other Charges),
and 2090 (Affiliation between Exchange and an Options Participant).\8\
---------------------------------------------------------------------------
\8\ See proposed changes to Rules 2000, 2010, 2020(a), 2040(a),
2040(f), IM-2040-1, 2050(a)-(e), and (g), 2060, 2070, 2080, 2090.
The Exchange notes that is also replacing ``Options Participant''
with ``Participant'' in the titles of rules 2050, 2060, 2070, and
2090.
---------------------------------------------------------------------------
The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 3000 (Just and Equitable
Principles of Trade), IM-3000-1, 3010 (Adherence to Law), 3020 (Sharing
Offices and Wire Connections), 3040 (False Statements), 3050
(Manipulation), 3060 (Gratuities), 3070 (Conduct and Compliance with
the Rules), 3080 (Rumors), 3090 (Prevention of the Misuse of Material
Nonpublic Information), 3100 (Disciplinary Action by Other
Organizations), 3110 (Other Restrictions on Participants), 3180
(Mandatory Systems Testing), and 3220 (Disruptive Quoting and Trading
Activity Prohibited).\9\
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\9\ See proposed changes to Rules 3000(a), IM-3000-1, 3010,
3020, 3040, 3050(a) and (b), 3060, 3070(a), 3080, 3090(a), and (c)-
(e), 3100, 3110, 3180(a)-(c), 3220(a).
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 4160 (Transfer of
Accounts), 4190 (Public Customer Complaints), and 4200 (Telephone
Solicitation).\10\
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\10\ See proposed changes to Rules 4160(a), 4160(h), 4160(i),
4190(c) and (d), 4200(c) and (d).
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 10000 (Maintenance,
Retention and Furnishing of Books, Records and Other Information),
10020 (Financial Reports), 10030 (Audits), 10040 (Automated Submission
of Trade Data), 10050 (Regulatory Cooperation), and 10070 (Anti-Money
Laundering Compliance Program).\11\
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\11\ See proposed changes to Rules 10000(a)-(c), 10020,
10030(a)-(c), 10040(a)-(d), 10050(c) and (d), 10070(a) and (b).
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 10200 (Minimum
Requirements), 10210 (Early Warning'' Notification Requirements), and
10220 (Power of CRO to Impose Restrictions).\12\
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\12\ See proposed changes to Rules 10200, 10210, 10220.
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 11000 (Imposition of
Suspension), 11010 (Investigation Following Suspension), 11020
(Reinstatement), and 11040 (Termination of Rights by Suspension).\13\
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\13\ See proposed changes to Rules 11000(a) and (b), 11010(a)
and (b), 11020(a) and (c), 11040.
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rules 12000 (Disciplinary
Jurisdiction), 12010 (Requirement to Furnish Information), 12020
(Investigation), 12030 (Letters of Consent), 12040 (Charges), 12060
(Hearing), 12110 (Judgement and Sanction), 12120 (Procedural Matters),
and Rule 12160 (Expedited Suspension Provision).\14\
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\14\ See proposed changes to Rules 12000(a)-(c), 12010(a),
12020, 12030(a), 12040(a), 12060(b), (e) and (f), 12110(a), (c) and
(d), 12120(a), 12160(a).
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rule 13000 (Scope of Series).\15\
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\15\ See proposed changes to Rule 13000.
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The Exchange is proposing to replace ``Options
Participant'' with ``Participant'' in Rule 14000 (Arbitration).\16\
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\16\ See proposed changes to Rule 14000(b), (c) and (e).
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Lastly, the Exchange is proposing to amend Rule 2040(e)(3).
Specifically, the Exchange proposes to remove the term ``BOX'' and
replace it with ``a facility of the Exchange.'' The Exchange notes that
BOX is a facility of the Exchange and therefore the Exchange is not
proposing to substantively change the rule.
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Securities Exchange Act of 1934
(the ``Act''),\17\ in general, and Section 6(b)(5) of the Act,\18\ in
particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system, and, in general to protect investors and the
public interest.
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\17\ 15 U.S.C. 78f(b).
\18\ 15 U.S.C. 78f(b)(5).
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The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system by ensuring that market participants can
easily navigate, understand and comply with the Exchange's rulebook.
The Exchange believes that the proposed rule change enables the
Exchange to continue to enforce the Exchange's rules. The Exchange
believes that none of the proposed changes discussed herein alter the
application of any rules. As such, the proposed amendments would foster
cooperation and coordination with persons engaged in facilitating
transactions in securities and would remove impediments to and perfect
the mechanism of a free and open market and a national exchange system.
Further, the Exchange believes that, by ensuring the rulebook
accurately reflects the intention of the Exchange's rules, the proposed
rule change reduces potential investor or market participant confusion.
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. In this regard and as indicated
above, the Exchange notes that the proposed changes will not alter any
of the Exchange's rules. Therefore, the proposed changes will have no
impact on competition as they are not designed to address any
competitive issues but rather are designed to make non-substantive
changes.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule does not (i) significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative
[[Page 43713]]
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, provided that the self-regulatory
organization has given 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,\19\ the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \20\ and Rule 19b-
4(f)(6) thereunder.\21\
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\19\ The Exchange has fulfilled this requirement.
\20\ 15 U.S.C. 78s(b)(3)(A).
\21\ 17 CFR 240.19b-4(f)(6).
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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-BOX-2018-27 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-BOX-2018-27. 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, on official business days
between the hours of 10:00 a.m. and 3:00 p.m., located at 100 F Street
NE, Washington, DC 20549. Copies of such 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-BOX-2018-27 and should be
submitted on or before September 17, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\22\
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\22\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-18426 Filed 8-24-18; 8:45 am]
BILLING CODE 8011-01-P
