Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Exchange's Pricing Schedule, 55761-55763 [2018-24310]
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Federal Register / Vol. 83, No. 216 / Wednesday, November 7, 2018 / Notices
License Condition 11. In addition,
License Condition No. 18 was amended
to allow three months from the effective
date of License Amendment No. 3 for
the Army to implement the revised final
site-specific ERMPs for Fort Polk, LA,
Fort Riley, KS, and the PTA, HI. Also,
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sample collection, as well as the
February 24, 2010, letter documenting
the contact information for the License
RSO, and the September 5, 2018, letter
documenting the new Army authorizing
official for this license. In addition, the
NRC amended the license to address the
consistent use of acronyms, initialisms,
and formatting, and to correct
grammatical errors and typographical
errors.
The NRC approved and issued
Amendment No. 3 to Source Materials
License No. SUC–1593, held by the
Army for the 16 U.S. military
installations with RCAs with Davy
Crockett DU that authorizes the
possession of DU. License Amendment
No. 3 (ADAMS Accession No.
ML18242A352) was effective as of the
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Dated at Rockville, Maryland, this 1st day
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For the Nuclear Regulatory Commission.
Stephen Koenick,
Chief, Low-Level Waste and Projects Branch,
Division of Decommissioning, Uranium
Recovery and Waste Programs, Office of
Nuclear Material Safety and Safeguards.
[FR Doc. 2018–24277 Filed 11–6–18; 8:45 am]
4. Executive Session—Discussion of
prior agenda items and Board
governance.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Wednesday, November 14, 2018, at 8:30
a.m. (Open)
The Exchange proposes to (a) relocate
the ISE Schedule of Fees and current
Rule 213 to the Exchange’s rulebook’s
(‘‘Rulebook’’) shell structure,3 and (b)
make conforming cross-reference
changes throughout the Rulebook.
The text of the proposed rule change
is available on the Exchange’s website at
https://ise.cchwallstreet.com/, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
1. Remarks of the Chairman of the
Temporary Emergency Committee of the
Board.
2. Remarks of the Postmaster General
and CEO.
3. Approval of Minutes of Previous
Meetings.
4. Committee Reports.
5. FY2018 10K and Financial
Statements.
6. FY2019 IFP and Financing
Resolution.
7. FY2020 Appropriations Request.
8. Quarterly Service Performance
Report.
9. Approval of Annual Report and
Comprehensive Statement.
10. Draft Agenda for February
meetings.
11. Public Comment Period.
CONTACT PERSON FOR MORE INFORMATION:
Acting Secretary of the Board, U.S.
Postal Service, 475 L’Enfant Plaza SW,
Washington, DC 20260–1000.
Telephone: (202) 268–4800.
Michael J. Elston,
Acting Secretary.
[FR Doc. 2018–24487 Filed 11–5–18; 4:15 pm]
BILLING CODE 7710–12–P
[Release No. 34–84522; File No. SR–ISE–
2018–89]
Temporary Emergency Committee of
the Board of Governors; Sunshine Act
Meeting
Tuesday, November
13, 2018, at 10:30 a.m.; and Wednesday,
November 14, 2018, at 8:30 a.m.
PLACE: Washington, DC, at U.S. Postal
Service Headquarters, 475 L’Enfant
Plaza SW, in the Benjamin Franklin
Room.
STATUS: Tuesday, November 13, 2018,
at 10:30 a.m.; Wednesday, November 14,
2018, at 8:30 a.m.—Open.
amozie on DSK3GDR082PROD with NOTICES1
DATES AND TIMES:
Matters To Be Considered
Tuesday, November 13, 2018, at 10:30
a.m. (Closed)
1. Strategic Issues.
2. Financial Matters.
3. Compensation and Personnel
Matters.
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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
SECURITIES AND EXCHANGE
COMMISSION
BILLING CODE 7590–01–P
POSTAL SERVICE
55761
Self-Regulatory Organizations; Nasdaq
ISE, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Relocate the
Exchange’s Pricing Schedule
November 1, 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 October
23, 2018, Nasdaq ISE, LLC (‘‘ISE’’ 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
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00074
Fmt 4703
Sfmt 4703
The Exchange proposes to relocate the
entire ISE Schedule of Fees and Rule
213 to the Exchange’s shell structure;
specifically, the Exchange will relocate
the aforementioned rules to the Options
7 (‘‘Pricing Schedule’’) section of the
shell. In addition, the Exchange will
make conforming cross-reference
changes throughout the Rulebook.
(a) Relocation of Rules
As indicated, the Exchange, as part of
its continued effort to promote
efficiency and the conformity of its
processes with those of the Affiliated
Exchanges, and the goal of harmonizing
and uniformizing its rules, proposes to
relocate the Schedule of Fees and ISE
Rule 213 under Options 7, Pricing
Schedule, of the shell structure.
3 In 2017, the Exchange added a shell structure to
its Rulebook with the purpose of improving
efficiency and readability and to align its rules
closer to those of its five sister exchanges, The
Nasdaq Stock Market LLC; Nasdaq BX, Inc.; Nasdaq
PHLX LLC; Nasdaq GEMX, LLC; and Nasdaq MRX,
LLC (‘‘Affiliated Exchanges’’). See Securities
Exchange Act Release No. 82173 (November 29,
2017), 82 FR 57505 (December 5, 2017) (SR–ISE–
2017–102).
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Federal Register / Vol. 83, No. 216 / Wednesday, November 7, 2018 / Notices
Therefore, to improve the readability
of the relocated Pricing Schedule rules,
the Exchange proposes to update their
current ‘‘Preface’’ section and rename it
‘‘Section 1. General Provisions.’’
Next, the Exchange proposes to mark
current ISE Rule 213 as ‘‘Reserved’’ and
relocate its contents and title
(‘‘Collection of Exchange Fees and Other
Claims’’) under Section 2 of the Options
7, Pricing Schedule.
ISE Rule 213 was added to the
Rulebook to permit the Exchange the
collection of undisputed or final fees,
fines, charges and/or other monetary
sanctions or other monies due and
owing to the Exchange or other charges
related to Rules 205, 206, 207, 208, 209,
and 210.4 The Exchange believes that,
unlike other rules in Chapter 2
(‘‘Organization and Administration’’) of
the Rulebook, which generally refer to
the powers of the Board of Directors and
the authority it delegates to Senior
Management of the Exchange, the direct
debit process established in Rule 213
will be better situated among the
relocated rules of the Pricing Schedule.
The Exchange is also proposing to
move all the remaining sections, I
thorough IX, in the current Schedule of
Fees, renumber them as provided in the
table below, and add the word
‘‘Section’’ to each of their titles.
Relatedly, the Exchange will update all
references to the ‘‘Schedule of Fees’’ or
‘‘Fee Schedule’’ in the proposed rule
text and replace them with the term
‘‘Pricing Schedule’’ where appropriate.
Finally, the Exchange will update all
references to ‘‘NASDAQ’’ in proposed
Section 8, I., of the Pricing Schedule
with the word ‘‘Nasdaq,’’ to keep the
proposed rule text consistent with
changes to the names of the Affiliated
Exchanges.5
Options 7—Pricing
schedule
(proposed)
amozie on DSK3GDR082PROD with NOTICES1
Section 1. General
Provisions.
Section 2. Collection
of Exchange Fees
and Other Claims.
Section 3. Regular
Order Fees and
Rebates.
Section 4. Complex
Order Fees and
Rebates.
Schedule of fees
(current)
PREFACE
Rule 213. Collection
of Exchange Fees
and Other Claims.
I. Regular Order Fees
and Rebates.
II. Complex Order
Fees and Rebates.
4 See Securities Exchange Act Release No. 79014
(September 30, 2016), 81 FR 69560 (October 6,
2016) (SR–ISE–2016–24).
5 See Securities Exchange Act Releases No. 81917
(October 23, 2017), 82 FR 49879 (October 27, 2017)
(SR–NASDAQ–2017–111) and No. 81948 (October
25, 2017), 82 FR 50468 (October 31, 2017) (SR–BX–
2017–046).
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Options 7—Pricing
schedule
(proposed)
Schedule of fees
(current)
Section 5. Index Options Fees and Rebates.
Section 6. Other Options Fees and Rebates.
Section 7.
Connectivity Fees.
Section 8. Access
Services.
Section 9. Legal &
Regulatory.
Section 10. Market
Data.
Section 11. Other
Services.
III. Index Options
Fees and Rebates.
IV. Other Options
Fees and Rebates.
V. Connectivity Fees.
VI. Access Services.
VII. Legal & Regulatory.
VIII. Market Data.
IX. Other Services.
The relocation of the Pricing Schedule
rules will facilitate the use of the
Rulebook by Members 6 of the Exchange,
including those who are members of
other Affiliated Exchanges, and other
market participants. Moreover, the
proposed changes are of a nonsubstantive nature and will not amend
the relocated rules, other than make the
updates previously explained.
(b) Cross-Reference Updates
In connection with the changes
described above, the Exchange proposes
to update all cross-references in the
Rulebook that direct the reader to the
current location of the Pricing Schedule
rules and/or any of their subsections.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,7 in general, and furthers the
objectives of Section 6(b)(5) of the Act,8
in particular, in that it is designed to
promote just and equitable principles of
trade, 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, by
promoting efficiency and structural
conformity of the Exchange’s processes
with those of the Affiliated Exchanges
and to make the Exchange’s Rulebook
easier to read and more accessible to its
Members and market participants. The
Exchange believes that the relocation of
the Pricing Schedule rules, updating the
name ‘‘NASDAQ’’ to ‘‘Nasdaq,’’ and
related cross-reference updates are of a
non-substantive nature.
6 Exchange
Rule 100(a)(30).
U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
7 15
PO 00000
Frm 00075
Fmt 4703
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B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed changes do not impose a
burden on competition because, as
previously stated, they (i) are of a nonsubstantive nature, (ii) are intended to
harmonize the structure of the
Exchange’s rules with those of its
Affiliated Exchanges, and (iii) are
intended to organize the Rulebook in a
way that it will ease the Members’ and
market participants’ navigation and
reading of the rules.
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) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 11 normally does not become
operative for 30 days after the date of its
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
requested that the Commission waive
the 30-day operative delay so that the
proposed rule change may become
operative upon filing. Waiver of the
operative delay would allow the
Exchange to promptly relocate the
Pricing Schedule rules, which the
Exchange believes will improve the
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
10 17
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Federal Register / Vol. 83, No. 216 / Wednesday, November 7, 2018 / Notices
organization and readability of the
Exchange’s Rulebook. The Commission
believes that waiver of the 30-day
operative delay is consistent with the
protection of investors and the public
interest. Accordingly, the Commission
hereby waives the operative delay and
designates the proposed rule change
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 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.
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–2018–89, and should
be submitted on or before November 28,
2018.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Assistant Secretary.
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–
ISE–2018–89 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–2018–89. 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
[FR Doc. 2018–24310 Filed 11–6–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84515; File No. SR–NYSE–
2018–34]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Order
Instituting Proceedings To Determine
Whether To Approve or Disapprove a
Proposed Rule Change To Amend
NYSE Rule 104 Governing
Transactions by Designated Market
Makers
November 1, 2018.
I. Introduction
On July 31, 2018, New York Stock
Exchange LLC (‘‘Exchange’’ or ‘‘NYSE’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to amend NYSE Rule 104
governing transactions by Designated
Market Makers (‘‘DMMs’’). The
proposed rule change was published for
comment in the Federal Register on
August 16, 2018.3 On September 24,
14 17
13 For
purposes only of waiving the 30-day
operative delay, the Commission also has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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Jkt 247001
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 83821
(Aug. 10, 2018), 83 FR 40808 (Aug. 16, 2018)
(‘‘Notice’’).
1 15
PO 00000
Frm 00076
Fmt 4703
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55763
2018, the Commission extended to
November 14, 2018, the time period in
which to approve, disapprove, or
institute proceedings to determine
whether to approve or disapprove, the
proposal.4 The Commission has
received no comments on the proposal.
This order institutes proceedings under
Section 19(b)(2)(B) of the Act 5 to
determine whether to approve or
disapprove the proposal.
II. Summary of the Proposed Rule
Change
The Exchange proposes to amend
NYSE Rule 104, which governs the
dealings and responsibilities of
Designated Market Makers (‘‘DMMs’’)
on the Exchange.6 According to the
Exchange, the proposal would
consolidate and restructure current
Rules 104(g), (h), and (i), which would
be deleted and incorporated into a new
subsection (g) titled ‘‘Transactions by
DMMs.’’ 7
Rule 104 currently defines four types
of DMM transactions. Current Rule
104(g) defines Neutral Transactions,
Non-Conditional Transactions, and
Prohibited Transactions, and current
Rule 104(h) defines Conditional
Transactions.8 The Exchange proposes
to eliminate the definitions of Neutral
Transactions, Non-Conditional
Transactions, and Prohibited
Transactions and to amend the rules
regarding Conditional Transactions and
rename them ‘‘Aggressing Transactions’’
under an amended Rule 104(g).9
The Exchange proposes to define an
Aggressing Transaction in proposed
Rule 104(g)(1)(A) as a DMM unit
transaction that is (1) a purchase (sale)
that reaches across the market to trade
as the contra-side to the Exchange
published offer (bid); and (2) priced
above (below) the last differently-priced
trade on the Exchange and above
(below) the last differently-priced
published offer (bid) on the Exchange.10
According to the Exchange, under
proposed Rule 104(g)(1)(B), an
Aggressing Transaction during the last
ten seconds prior to the scheduled close
of trading that would result in a new
consolidated high (low) price for a
security during that trading day would
be prohibited, unless the transaction
would bring the price of the security
4 See Securities Exchange Act Release No. 84276
(Sep. 24, 2018), 83 FR 49143 (Sep. 28, 2018).
5 15 U.S.C. 78s(b)(2)(B).
6 Details of the proposal rule change can be found
in the Notice. See Notice, supra note 3.
7 See id. at 40809–10.
8 See id. at 40808–09 (describing current
provisions regarding these transaction types).
9 See id. at 40809–10.
10 See id. at 40810.
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]]>Agencies
[Federal Register Volume 83, Number 216 (Wednesday, November 7, 2018)]
[Notices]
[Pages 55761-55763]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-24310]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84522; File No. SR-ISE-2018-89]
Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Relocate the
Exchange's Pricing Schedule
November 1, 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 October 23, 2018, Nasdaq ISE, LLC (``ISE'' 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 (a) relocate the ISE Schedule of Fees and
current Rule 213 to the Exchange's rulebook's (``Rulebook'') shell
structure,\3\ and (b) make conforming cross-reference changes
throughout the Rulebook.
---------------------------------------------------------------------------
\3\ In 2017, the Exchange added a shell structure to its
Rulebook with the purpose of improving efficiency and readability
and to align its rules closer to those of its five sister exchanges,
The Nasdaq Stock Market LLC; Nasdaq BX, Inc.; Nasdaq PHLX LLC;
Nasdaq GEMX, LLC; and Nasdaq MRX, LLC (``Affiliated Exchanges'').
See Securities Exchange Act Release No. 82173 (November 29, 2017),
82 FR 57505 (December 5, 2017) (SR-ISE-2017-102).
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Exchange's
website at https://ise.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 relocate the entire ISE Schedule of Fees
and Rule 213 to the Exchange's shell structure; specifically, the
Exchange will relocate the aforementioned rules to the Options 7
(``Pricing Schedule'') section of the shell. In addition, the Exchange
will make conforming cross-reference changes throughout the Rulebook.
(a) Relocation of Rules
As indicated, the Exchange, as part of its continued effort to
promote efficiency and the conformity of its processes with those of
the Affiliated Exchanges, and the goal of harmonizing and uniformizing
its rules, proposes to relocate the Schedule of Fees and ISE Rule 213
under Options 7, Pricing Schedule, of the shell structure.
[[Page 55762]]
Therefore, to improve the readability of the relocated Pricing
Schedule rules, the Exchange proposes to update their current
``Preface'' section and rename it ``Section 1. General Provisions.''
Next, the Exchange proposes to mark current ISE Rule 213 as
``Reserved'' and relocate its contents and title (``Collection of
Exchange Fees and Other Claims'') under Section 2 of the Options 7,
Pricing Schedule.
ISE Rule 213 was added to the Rulebook to permit the Exchange the
collection of undisputed or final fees, fines, charges and/or other
monetary sanctions or other monies due and owing to the Exchange or
other charges related to Rules 205, 206, 207, 208, 209, and 210.\4\ The
Exchange believes that, unlike other rules in Chapter 2 (``Organization
and Administration'') of the Rulebook, which generally refer to the
powers of the Board of Directors and the authority it delegates to
Senior Management of the Exchange, the direct debit process established
in Rule 213 will be better situated among the relocated rules of the
Pricing Schedule.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 79014 (September 30,
2016), 81 FR 69560 (October 6, 2016) (SR-ISE-2016-24).
---------------------------------------------------------------------------
The Exchange is also proposing to move all the remaining sections,
I thorough IX, in the current Schedule of Fees, renumber them as
provided in the table below, and add the word ``Section'' to each of
their titles. Relatedly, the Exchange will update all references to the
``Schedule of Fees'' or ``Fee Schedule'' in the proposed rule text and
replace them with the term ``Pricing Schedule'' where appropriate.
Finally, the Exchange will update all references to ``NASDAQ'' in
proposed Section 8, I., of the Pricing Schedule with the word
``Nasdaq,'' to keep the proposed rule text consistent with changes to
the names of the Affiliated Exchanges.\5\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Releases No. 81917 (October 23,
2017), 82 FR 49879 (October 27, 2017) (SR-NASDAQ-2017-111) and No.
81948 (October 25, 2017), 82 FR 50468 (October 31, 2017) (SR-BX-
2017-046).
------------------------------------------------------------------------
Options 7--Pricing schedule (proposed) Schedule of fees (current)
------------------------------------------------------------------------
Section 1. General Provisions............. PREFACE
Section 2. Collection of Exchange Fees and Rule 213. Collection of
Other Claims. Exchange Fees and Other
Claims.
Section 3. Regular Order Fees and Rebates. I. Regular Order Fees and
Rebates.
Section 4. Complex Order Fees and Rebates. II. Complex Order Fees and
Rebates.
Section 5. Index Options Fees and Rebates. III. Index Options Fees and
Rebates.
Section 6. Other Options Fees and Rebates. IV. Other Options Fees and
Rebates.
Section 7. Connectivity Fees.............. V. Connectivity Fees.
Section 8. Access Services................ VI. Access Services.
Section 9. Legal & Regulatory............. VII. Legal & Regulatory.
Section 10. Market Data................... VIII. Market Data.
Section 11. Other Services................ IX. Other Services.
------------------------------------------------------------------------
The relocation of the Pricing Schedule rules will facilitate the
use of the Rulebook by Members \6\ of the Exchange, including those who
are members of other Affiliated Exchanges, and other market
participants. Moreover, the proposed changes are of a non-substantive
nature and will not amend the relocated rules, other than make the
updates previously explained.
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\6\ Exchange Rule 100(a)(30).
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(b) Cross-Reference Updates
In connection with the changes described above, the Exchange
proposes to update all cross-references in the Rulebook that direct the
reader to the current location of the Pricing Schedule rules and/or any
of their subsections.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\7\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\8\ in particular, in that it is designed to promote
just and equitable principles of trade, 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,
by promoting efficiency and structural conformity of the Exchange's
processes with those of the Affiliated Exchanges and to make the
Exchange's Rulebook easier to read and more accessible to its Members
and market participants. The Exchange believes that the relocation of
the Pricing Schedule rules, updating the name ``NASDAQ'' to ``Nasdaq,''
and related cross-reference updates are of a non-substantive nature.
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\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The proposed changes do not
impose a burden on competition because, as previously stated, they (i)
are of a non-substantive nature, (ii) are intended to harmonize the
structure of the Exchange's rules with those of its Affiliated
Exchanges, and (iii) are intended to organize the Rulebook in a way
that it will ease the Members' and market participants' navigation and
reading of the rules.
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) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \11\ normally does not become operative for 30 days after the date
of its 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 requested that the Commission waive the 30-day operative delay so
that the proposed rule change may become operative upon filing. Waiver
of the operative delay would allow the Exchange to promptly relocate
the Pricing Schedule rules, which the Exchange believes will improve
the
[[Page 55763]]
organization and readability of the Exchange's Rulebook. The Commission
believes that waiver of the 30-day operative delay is consistent with
the protection of investors and the public interest. Accordingly, the
Commission hereby waives the operative delay and designates the
proposed rule change 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 also has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule 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:
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-ISE-2018-89 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-2018-89. 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-2018-89, and should be submitted on
or before November 28, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
Eduardo A. Aleman,
Assistant Secretary.
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\14\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2018-24310 Filed 11-6-18; 8:45 am]
BILLING CODE 8011-01-P
