Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Modify the NYSE American Options Fee Schedule, 58794-58795 [2018-25343]
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Federal Register / Vol. 83, No. 225 / Wednesday, November 21, 2018 / Notices
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–CboeBZX–2018–077 and
should be submitted on or before
December 12, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.48
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–25344 Filed 11–20–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; NYSE
American LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Change To Modify the NYSE American
Options Fee Schedule
khammond on DSK30JT082PROD with NOTICES
November 15, 2018.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
November 8, 2018, NYSE American LLC
(the ‘‘Exchange’’ or ‘‘NYSE American’’)
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 selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
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16:08 Nov 20, 2018
Jkt 247001
The Exchange proposes to modify the
NYSE American Options Fee Schedule
(‘‘Fee Schedule’’). The Exchange
proposes to implement the fee change
effective November 8, 2018. The
proposed change is available on the
Exchange’s website at www.nyse.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
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 those 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 parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
[Release No. 34–84603; File No. SR–
NYSEAMER–2018–48]
48 17
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The purpose of this filing is to modify
the Fee Schedule, effective November 8,
2018, to eliminate obsolete charges.
Specifically, the Exchange proposes to
remove now obsolete references to fees
for Mini Options and Binary Return
Derivatives (‘‘ByRDS’’), and to modify
its Royalty Fees to remove products that
the Exchange is no longer licensed to
trade.
The Exchange adopted fees for Mini
Options in 2013, when Mini Options
were first listed.4 In the intervening
years, the Exchange ceased adding new
Mini-Option series, and eventually there
were no Mini-Options trading on the
Exchange. Thus, the Exchange proposes
to remove from the Fee Schedule as
obsolete all references to Mini-Options
and associated fees.5 Given that the
Exchange is removing Mini Options, it
proposes to further streamline the Fee
Schedule by removing as superfluous
the designation of ‘‘Standard’’ as to
4 See, e.g., Securities Exchange Act Release No.
69298 (April 4, 2013), 78 FR 21464 (April 10, 2013)
(NYSEMKT–2013–24).
5 See proposed Fee Schedule, Table of Contents,
Key Terms and Definitions, Sections I.B., I.C., I.F.,
I.I., I.J., I.L., II and III. The Exchange proposes to
hold Section I.B., which currently sets forth fees for
Mini Options, as Reserved.
PO 00000
Frm 00040
Fmt 4703
Sfmt 4703
delineate non-Mini Options and to make
any related conforming changes to
maintain appropriate grammar, sentence
structure, etc.6
The Exchange listed ByRDs for
trading in 2016,7 but ceased adding new
series earlier this year, and no longer
has any ByRDs available for trading.
Thus, the Exchange proposes to remove
from the Fee Schedule as obsolete all
references to ByRDs and associated fees/
credits as well as to make necessary
conforming changes, including deleting
note 5 to Section I.A. and re-numbering
the balance of the notes to this section
to maintain clarity and consistency.8
Section I.K. of the Fee Schedule
contains a table that sets forth the
Royalty Fees that the Exchange charges
market participant for trades in
proprietary products for which the
Exchange has a license, namely: Mini
Nasdaq 100 Index (NDX), Nasdaq 100
Index (MNX), the Russell Index (RUT),
and KBW Bank Index (BKX). The
Exchange proposes to delete the table
and to instead reference a $0.10 per
contract Royalty Fee for BKX, as this
product continues to be licensed to the
Exchange.9
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,10 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,11 in particular,
because it provides for the equitable
allocation of reasonable dues, fees, and
other charges among its members,
issuers and other persons using its
facilities and does not unfairly
discriminate between customers,
issuers, brokers or dealers.
The Exchange believes that the
proposed modifications to the Fee
6 See proposed Fee Schedule, Table of Contents,
Key Terms and Definitions, Sections I.A.-I.G., I.I–
I.J., I.L., II and III.
7 The Exchange adopted ByRDs in 2007 and relaunched trading in ByRDs in March, 2016. See
Securities Exchange Act Release No. 56251 (August
14, 2007), 72 FR 46523 (August 20, 2007)(SR–
Amex–2004–27) (Order approving listing of Fixed
Return Options (‘‘FROs’’)); see also Securities
Exchange Act Release Nos. 71957 (April 16, 2014),
79 FR 22563 (April 22, 2014) (SR–NYSEMKT–
2014–06) (Order approving name change from FROs
to Binary Return Derivatives (ByRDs) and re-launch
of these products, with certain modification, and
amending Obvious Errors rules to include ByRDs);
77014 (February 2, 2016), 81 FR 6566 (February 8,
2016) (SR–NYSEMKT–2016–16) (immediate
effectiveness filing amending amend certain of rules
related to ByRDs).
8 See proposed Fee Schedule, Table of Contents,
Sections I.A., I.H., I.M, and III.C., note 1. The
Exchange proposes to hold Section I.H., which
currently sets the Early Adopter Specialist [in
ByRDs], as Reserved.
9 See proposed Fee Schedule, Section I.K.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(4) and (5).
E:\FR\FM\21NON1.SGM
21NON1
Federal Register / Vol. 83, No. 225 / Wednesday, November 21, 2018 / Notices
Schedule, including removing obsolete
references to products that the Exchange
no longer offers or licenses, together
with their associated fees, are
reasonable, equitable, and not unfairly
discriminatory because the changes
provides clarity to the Fee Schedule,
and does not affect any current activity
by any ATP Holder. Relatedly, the
proposed modifications to streamline
the text of the Fee Schedule, including
by removing the modifier ‘‘Standard’’ to
delineate on non-Mini Option, would
likewise add clarity and transparency to
the Fee Schedule making it easier for
market participants to navigate and
comprehend.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,12 the Exchange does not believe
that the proposed rule change would
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
Instead, the proposed change is meant
to add clarity and transparency to the
Fee Schedule to the benefit of all market
participants that trade on the Exchange.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
khammond on DSK30JT082PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 13 of the Act and
subparagraph (f)(2) of Rule 19b–4 14
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such 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
under Section 19(b)(2)(B) 15 of the Act to
determine whether the proposed rule
12 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A).
14 17 CFR 240.19b–4(f)(2).
15 15 U.S.C. 78s(b)(2)(B).
13 15
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16:08 Nov 20, 2018
Jkt 247001
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 rule-comments@
sec.gov. Please include File Number SR–
NYSEAMER–2018–48 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE, Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSEAMER–2018–48. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
internet website (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for website viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSEAMER–2018–48 and
should be submitted on or before
December 12, 2018.
PO 00000
Frm 00041
Fmt 4703
Sfmt 4703
58795
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–25343 Filed 11–20–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84599; File No. SR–
CboeEDGA–2018–017]
Self-Regulatory Organizations; Cboe
EDGA Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change Relating To
Amend the Exchange’s Fee Schedule
Applicable to its Equities Trading
Platform
November 15, 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 November
1, 2018, EDGA Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGA’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe EDGA Exchange, Inc. (‘‘EDGA’’
or the ‘‘Exchange’’) is filing with the
Securities and Exchange Commission
(the ‘‘Commission’’) a proposed rule
change to amend the Exchange’s fee
schedule applicable to its equities
trading platform.
The text of the proposed rule change
is also 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
16 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\21NON1.SGM
21NON1
]]>Agencies
[Federal Register Volume 83, Number 225 (Wednesday, November 21, 2018)]
[Notices]
[Pages 58794-58795]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25343]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84603; File No. SR-NYSEAMER-2018-48]
Self-Regulatory Organizations; NYSE American LLC; Notice of
Filing and Immediate Effectiveness of Proposed Change To Modify the
NYSE American Options Fee Schedule
November 15, 2018.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on November 8, 2018, NYSE American LLC (the ``Exchange'' or
``NYSE American'') 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 self-
regulatory organization. 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\ 15 U.S.C. 78a.
\3\ 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 modify the NYSE American Options Fee
Schedule (``Fee Schedule''). The Exchange proposes to implement the fee
change effective November 8, 2018. The proposed change is available on
the Exchange's website at www.nyse.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 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 those 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 parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of this filing is to modify the Fee Schedule, effective
November 8, 2018, to eliminate obsolete charges. Specifically, the
Exchange proposes to remove now obsolete references to fees for Mini
Options and Binary Return Derivatives (``ByRDS''), and to modify its
Royalty Fees to remove products that the Exchange is no longer licensed
to trade.
The Exchange adopted fees for Mini Options in 2013, when Mini
Options were first listed.\4\ In the intervening years, the Exchange
ceased adding new Mini-Option series, and eventually there were no
Mini-Options trading on the Exchange. Thus, the Exchange proposes to
remove from the Fee Schedule as obsolete all references to Mini-Options
and associated fees.\5\ Given that the Exchange is removing Mini
Options, it proposes to further streamline the Fee Schedule by removing
as superfluous the designation of ``Standard'' as to delineate non-Mini
Options and to make any related conforming changes to maintain
appropriate grammar, sentence structure, etc.\6\
---------------------------------------------------------------------------
\4\ See, e.g., Securities Exchange Act Release No. 69298 (April
4, 2013), 78 FR 21464 (April 10, 2013) (NYSEMKT-2013-24).
\5\ See proposed Fee Schedule, Table of Contents, Key Terms and
Definitions, Sections I.B., I.C., I.F., I.I., I.J., I.L., II and
III. The Exchange proposes to hold Section I.B., which currently
sets forth fees for Mini Options, as Reserved.
\6\ See proposed Fee Schedule, Table of Contents, Key Terms and
Definitions, Sections I.A.-I.G., I.I-I.J., I.L., II and III.
---------------------------------------------------------------------------
The Exchange listed ByRDs for trading in 2016,\7\ but ceased adding
new series earlier this year, and no longer has any ByRDs available for
trading. Thus, the Exchange proposes to remove from the Fee Schedule as
obsolete all references to ByRDs and associated fees/credits as well as
to make necessary conforming changes, including deleting note 5 to
Section I.A. and re-numbering the balance of the notes to this section
to maintain clarity and consistency.\8\
---------------------------------------------------------------------------
\7\ The Exchange adopted ByRDs in 2007 and re-launched trading
in ByRDs in March, 2016. See Securities Exchange Act Release No.
56251 (August 14, 2007), 72 FR 46523 (August 20, 2007)(SR-Amex-2004-
27) (Order approving listing of Fixed Return Options (``FROs''));
see also Securities Exchange Act Release Nos. 71957 (April 16,
2014), 79 FR 22563 (April 22, 2014) (SR-NYSEMKT-2014-06) (Order
approving name change from FROs to Binary Return Derivatives (ByRDs)
and re-launch of these products, with certain modification, and
amending Obvious Errors rules to include ByRDs); 77014 (February 2,
2016), 81 FR 6566 (February 8, 2016) (SR-NYSEMKT-2016-16) (immediate
effectiveness filing amending amend certain of rules related to
ByRDs).
\8\ See proposed Fee Schedule, Table of Contents, Sections I.A.,
I.H., I.M, and III.C., note 1. The Exchange proposes to hold Section
I.H., which currently sets the Early Adopter Specialist [in ByRDs],
as Reserved.
---------------------------------------------------------------------------
Section I.K. of the Fee Schedule contains a table that sets forth
the Royalty Fees that the Exchange charges market participant for
trades in proprietary products for which the Exchange has a license,
namely: Mini Nasdaq 100 Index (NDX), Nasdaq 100 Index (MNX), the
Russell Index (RUT), and KBW Bank Index (BKX). The Exchange proposes to
delete the table and to instead reference a $0.10 per contract Royalty
Fee for BKX, as this product continues to be licensed to the
Exchange.\9\
---------------------------------------------------------------------------
\9\ See proposed Fee Schedule, Section I.K.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\10\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\11\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed modifications to the Fee
[[Page 58795]]
Schedule, including removing obsolete references to products that the
Exchange no longer offers or licenses, together with their associated
fees, are reasonable, equitable, and not unfairly discriminatory
because the changes provides clarity to the Fee Schedule, and does not
affect any current activity by any ATP Holder. Relatedly, the proposed
modifications to streamline the text of the Fee Schedule, including by
removing the modifier ``Standard'' to delineate on non-Mini Option,
would likewise add clarity and transparency to the Fee Schedule making
it easier for market participants to navigate and comprehend.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\12\ the Exchange
does not believe that the proposed rule change would impose any burden
on competition that is not necessary or appropriate in furtherance of
the purposes of the Act. Instead, the proposed change is meant to add
clarity and transparency to the Fee Schedule to the benefit of all
market participants that trade on the Exchange.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \13\ of the Act and subparagraph (f)(2) of Rule
19b-4 \14\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
At any time within 60 days of the filing of such 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 under
Section 19(b)(2)(B) \15\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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-NYSEAMER-2018-48 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEAMER-2018-48. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (https://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEAMER-2018-48 and should be submitted
on or before December 12, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-25343 Filed 11-20-18; 8:45 am]
BILLING CODE 8011-01-P
