Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Relocate Registration, Qualification Examination and Continuing Education Rules, 60909-60911 [2018-25740]
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Federal Register / Vol. 83, No. 228 / Tuesday, November 27, 2018 / Notices
ACTION:
Notice.
POSTAL SERVICE
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
SUMMARY:
Date of required notice:
November 27, 2018.
DATES:
FOR FURTHER INFORMATION CONTACT:
Elizabeth Reed, 202–268–3179.
The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 20,
2018, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Express Contract 66 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–24, CP2019–25.
SUPPLEMENTARY INFORMATION:
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2018–25716 Filed 11–26–18; 8:45 am]
ACTION:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice:
November 27, 2018.
FOR FURTHER INFORMATION CONTACT:
Elizabeth Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 20,
2018, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 480 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–27, CP2019–28.
SUMMARY:
[FR Doc. 2018–25719 Filed 11–26–18; 8:45 am]
POSTAL SERVICE
BILLING CODE 7710–12–P
Product Change—Priority Mail
Negotiated Service Agreement
ACTION:
Postal ServiceTM.
Notice.
AGENCY:
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
BILLING CODE 7710–12–P
AGENCY:
Product Change—Priority Mail
Negotiated Service Agreement
POSTAL SERVICE
Postal ServiceTM.
Product Change—Priority Mail
Negotiated Service Agreement
Notice.
Postal ServiceTM.
Notice.
AGENCY:
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
SUMMARY:
The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 20,
2018, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 482 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–29, CP2019–30.
The Postal Service gives
notice of filing a request with the Postal
Regulatory Commission to add a
domestic shipping services contract to
the list of Negotiated Service
Agreements in the Mail Classification
Schedule’s Competitive Products List.
DATES: Date of required notice:
November 27, 2018.
FOR FURTHER INFORMATION CONTACT:
Elizabeth Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION: The
United States Postal Service® hereby
gives notice that, pursuant to 39 U.S.C.
3642 and 3632(b)(3), on November 20,
2018, it filed with the Postal Regulatory
Commission a USPS Request to Add
Priority Mail Contract 483 to
Competitive Product List. Documents
are available at www.prc.gov, Docket
Nos. MC2019–30, CP2019–31.
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
Elizabeth Reed,
Attorney, Corporate and Postal Business Law.
[FR Doc. 2018–25723 Filed 11–26–18; 8:45 am]
[FR Doc. 2018–25715 Filed 11–26–18; 8:45 am]
BILLING CODE 7710–12–P
BILLING CODE 7710–12–P
Date of required notice:
November 27, 2018.
DATES:
FOR FURTHER INFORMATION CONTACT:
Elizabeth Reed, 202–268–3179.
SUPPLEMENTARY INFORMATION:
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ACTION:
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60909
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84638; File No. SR–
NASDAQ–2018–093]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change to Relocate
Registration, Qualification Examination
and Continuing Education Rules
November 20, 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 November
14, 2018, The Nasdaq Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I and
II below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to delete from
[sic] the current rules on Registration,
Qualification Examination and
Continuing Education consisting of
Rules 1200, 1210, 1220, 1230, 1240 and
1250 (the ‘‘1200 Series’’ of rules) and to
relocate them into General 4 in the
Exchange’s rulebook’s (‘‘Rulebook’’)
shell structure, as new General 4,
Section 1.3
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaq.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
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Recently, 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, Nasdaq
BX, Inc.; Nasdaq PHLX LLC (‘‘Phlx’’); Nasdaq ISE,
LLC; Nasdaq GEMX, LLC; and Nasdaq MRX, LLC
(‘‘Affiliated Exchanges’’). The shell structure
containing General Equity and Options Rules
currently contains eight chapters which, once
complete, will apply a common set of rules to the
Affiliated Exchanges. See Securities Exchange Act
Release No. 82175 (November 29, 2017), 82 FR
57494 (December 5, 2017) (SR–NASDAQ–2017–
125).
2 17
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60910
Federal Register / Vol. 83, No. 228 / Tuesday, November 27, 2018 / Notices
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
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1. Purpose
The Exchange proposes to delete its
rules on Registration, Qualification
Examinations and Continuing Education
where they are currently found in the
Exchange’s Rulebook and relocate them
to General 4, Regulation, of the ‘‘General
Equity and Options Rules’’ in the
Exchange’s new shell Rulebook, as new
Section 1, Registration, Qualification
and Continuing Education.
The 1200 Series of rules is a common
set of rules among Nasdaq and the
Affiliated Exchanges that were recently
adopted on Nasdaq and on each of the
Affiliated Exchanges.4 The Nasdaq 1200
Series of rules will ultimately, after they
are relocated and pursuant to
subsequent proposed rule changes by
the Affiliated Exchanges, replace the
existing 1200 Series of rules as they
currently appear in each of the
Affiliated Exchanges’ rulebooks, which
will incorporate the relocated Nasdaq
rules by reference.5
The relocation and harmonization of
the 1200 Series is part of the Exchange’s
continued effort to promote efficiency
and conformity of its rules with those of
its Affiliated Exchanges. The Exchange
believes that the placement of the 1200
Series of rules in their new location in
the shell will facilitate the use of the
Rulebook by members of the Exchange
who are also members of one or more
of the Affiliated Exchanges. Moreover,
the proposed changes will not amend
4 See Securities Exchange Act Release Nos. 84386
(October 9, 2018), 83 FR 51988 (October 15, 2018)
(SR–Nasdaq–2018–078); 84353 (October 3, 2018),
83 FR 50999 (October 10, 2018) (SR–BX–2018–047);
84352 (October 3, 2018), 83 FR 50981 (October 10,
2018) (SR–Phlx–2018–61); 84384 (October 9, 2018),
83 FR 52006 (October 15, 2018) (SR–ISE–2018–82);
84448 (October 18, 2018), 83 FR 53669 (October 24,
2018) (SR–GEMX–2018–33); and 84385 (October 9,
2018), 83 FR 52023 (October 15, 2018) (SR–MRX–
2018–31).
5 Due to its trading floor and unique membership
structure which features the concept of a ‘‘member
organization,’’ the Phlx 1200 Series differs slightly
from the 1200 Series adopted on the remaining
Affiliated Exchanges. Consequently, the Phlx 1200
Series will be amended to conform to the 1200
Series of the other Affiliated Exchanges prior to
incorporating the Nasdaq 1200 Series of rules into
the Phlx rulebook.
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the substance of the 1200 Series of rules.
They will simply renumber the rules by
adding ‘‘General 4, Section 1.’’
immediately before the current rule
number. Thus, for example, current
Rule 1210 will be redesignated ‘‘General
4, Section 1.1210’’. Similarly, current
references in the Rulebook to the ‘‘Rule
1200 Series’’ will be changed to the
‘‘General 4, Section 1.1200 Series’’.
Current Exchange rules—both within
the existing 1200 Series of rules and
elsewhere in the Rulebook—that crossreference the current 1200 Series of
rules will also be updated to refer to the
1200 Series of rules as renumbered.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,6 in general, and furthers the
objectives of Section 6(b)(5) of the Act,7
in particular, in that it is designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general to protect
investors and the public interest. The
relocation and renumbering of the 1200
Series of rules and the cross-reference
updates are of a non-substantive nature.
The proposal is intended ultimately to
facilitate the harmonization of the
Exchange’s rules with those of its
Affiliated Exchanges.
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 are of a nonsubstantive nature.
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
6 15
7 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00090
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as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and
subparagraph (f)(6) of Rule 19b–4
thereunder.9
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative for 30 days from the
date of filing. However, Rule 19b–
4(f)(6)(iii) 10 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay in
order to expedite the Exchange’s
reorganization of its Rulebook.11 The
Exchange asserts the waiver would help
promote efficiency and conformity of its
rules with those of its Affiliated
Exchanges. The proposed changes are
non-substantive; they relocate rules that
were adopted by Nasdaq in a prior rule
filing. Waiver of the 30-day operative
delay will enable Nasdaq to reorganize
its Rulebook without delay. Thus, the
Commission believes that the waiver of
the 30-day operative delay is consistent
with the public interest and hereby
waives the 30-day operative delay.12
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:
8 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
the proposed rule change at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Exchange has satisfied this
requirement.
10 17 CFR 240.19b–4(f)(6)(iii).
11 See supra note 3.
12 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
9 17
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Federal Register / Vol. 83, No. 228 / Tuesday, November 27, 2018 / Notices
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–
NASDAQ–2018–093 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.
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All submissions should refer to File
Number SR–NASDAQ–2018–093. 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 the Commission does not
edit personal identifying information
from submissions. You should submit
only information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NASDAQ–2018–093 and should be
submitted on or before December 18,
2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–25740 Filed 11–26–18; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84642; File No. SR–
CboeEDGX–2018–049]
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
of a Proposed Rule Change Relating
To Adopt Complex Reserve Order
Functionality
November 21, 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
8, 2018, Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) proposes to
adopt Complex Reserve Order
functionality.
(additions are italic; deletions are
[bracketed])
*
*
*
*
*
Rules of Cboe EDGX Exchange, Inc.
*
*
CFR 200.30–3(a)(12).
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2 17
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*
*
Rule 21.20. Complex Orders
(a) No change.
(b) Availability of Types of Complex
Orders. The Exchange will determine
and communicate to Members via
specifications and/or a Regulatory
Circular listing when the complex order
types, among the complex order types
set forth in this Rule, are available for
use on the Exchange. The complex order
types that may be submitted are limit
orders and market orders, and orders
with a Time in Force of GTD, IOC, DAY,
GTC, or OPG as such terms are defined
in Rule 21.1(f).The System also accepts
the following instructions for complex
orders[ will also be accepted by the
Exchange]:
(1)–(3) No change.
(4) (Reserved)
(5) (Reserved)
(6) Complex Reserve Order. A
‘‘Complex Reserve Order’’ is a complex
limit order with both a portion of the
quantity displayed (‘‘Display Quantity’’)
1 15
13 17
*
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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60911
and a reserve portion of the quantity
(‘‘Reserve Quantity’’) not displayed.
Both the Display Quantity and Reserve
Quantity of a Complex Reserve Order
are available for potential execution
pursuant to paragraphs (c) and (d)
below. When entering a Complex
Reserve Order, a User must instruct the
Exchange as to the quantity of the
Complex Reserve Order to be initially
displayed by the System (‘‘Max Floor’’).
If the Display Quantity of a Complex
Reserve Order is fully executed, the
System will, in accordance with the
User’s instruction, replenish the Display
Quantity from the Reserve Quantity
using one of the below replenishment
instructions. If the remainder of a
Complex Reserve Order is less than the
replenishment amount, the System will
display the entire remainder of the
Complex Reserve Order. The System
creates a new timestamp for both the
Display Quantity and Reserve Quantity
of the Complex Reserve Order each time
it is replenished from reserve.
(A) Random Replenishment. An
instruction that a User may attach to a
Complex Reserve Order where the
System randomly replenishes the
Display Quantity for the Complex
Reserve Order with a number of
contracts not outside a replenishment
range, which equals the Max Floor plus
and minus a replenishment value
established by the User when entering a
Complex Reserve Order with a Random
Replenishment instruction.
(B) Fixed Replenishment. For any
Complex Reserve Order for which a User
does not select Random Replenishment,
the System will replenish the Display
Quantity of the Complex Reserve Order
with the number of contracts equal to
the Max Floor (or the entire remainder
of the Complex Reserve Order if it is less
than the replenishment amount).
(c) Trading of Complex Orders. The
Exchange will determine and
communicate to Members via
specifications and/or Regulatory
Circular which complex order origin
codes (i.e., non-broker-dealer customers,
broker-dealers that are not Market
Makers on an options exchange, and/or
Market Makers on an options exchange)
are eligible for entry onto the COB.
Complex orders will be subject to all
other Exchange Rules that pertain to
orders submitted to the Exchange
generally, unless otherwise provided in
this Rule.
(1) No change.
(2) Execution of Complex Orders.
(A)–(E) No change.
(F) Legging. Complex orders up to a
maximum number of legs (determined
by the Exchange on a class-by-class
basis as either two, three, or four legs
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]]>Agencies
[Federal Register Volume 83, Number 228 (Tuesday, November 27, 2018)]
[Notices]
[Pages 60909-60911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-25740]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84638; File No. SR-NASDAQ-2018-093]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to
Relocate Registration, Qualification Examination and Continuing
Education Rules
November 20, 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 November 14, 2018, The Nasdaq Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``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 delete from [sic] the current rules on
Registration, Qualification Examination and Continuing Education
consisting of Rules 1200, 1210, 1220, 1230, 1240 and 1250 (the ``1200
Series'' of rules) and to relocate them into General 4 in the
Exchange's rulebook's (``Rulebook'') shell structure, as new General 4,
Section 1.\3\
---------------------------------------------------------------------------
\3\ Recently, 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,
Nasdaq BX, Inc.; Nasdaq PHLX LLC (``Phlx''); Nasdaq ISE, LLC; Nasdaq
GEMX, LLC; and Nasdaq MRX, LLC (``Affiliated Exchanges''). The shell
structure containing General Equity and Options Rules currently
contains eight chapters which, once complete, will apply a common
set of rules to the Affiliated Exchanges. See Securities Exchange
Act Release No. 82175 (November 29, 2017), 82 FR 57494 (December 5,
2017) (SR-NASDAQ-2017-125).
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Exchange's
website at https://nasdaq.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
[[Page 60910]]
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 delete its rules on Registration,
Qualification Examinations and Continuing Education where they are
currently found in the Exchange's Rulebook and relocate them to General
4, Regulation, of the ``General Equity and Options Rules'' in the
Exchange's new shell Rulebook, as new Section 1, Registration,
Qualification and Continuing Education.
The 1200 Series of rules is a common set of rules among Nasdaq and
the Affiliated Exchanges that were recently adopted on Nasdaq and on
each of the Affiliated Exchanges.\4\ The Nasdaq 1200 Series of rules
will ultimately, after they are relocated and pursuant to subsequent
proposed rule changes by the Affiliated Exchanges, replace the existing
1200 Series of rules as they currently appear in each of the Affiliated
Exchanges' rulebooks, which will incorporate the relocated Nasdaq rules
by reference.\5\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release Nos. 84386 (October 9,
2018), 83 FR 51988 (October 15, 2018) (SR-Nasdaq-2018-078); 84353
(October 3, 2018), 83 FR 50999 (October 10, 2018) (SR-BX-2018-047);
84352 (October 3, 2018), 83 FR 50981 (October 10, 2018) (SR-Phlx-
2018-61); 84384 (October 9, 2018), 83 FR 52006 (October 15, 2018)
(SR-ISE-2018-82); 84448 (October 18, 2018), 83 FR 53669 (October 24,
2018) (SR-GEMX-2018-33); and 84385 (October 9, 2018), 83 FR 52023
(October 15, 2018) (SR-MRX-2018-31).
\5\ Due to its trading floor and unique membership structure
which features the concept of a ``member organization,'' the Phlx
1200 Series differs slightly from the 1200 Series adopted on the
remaining Affiliated Exchanges. Consequently, the Phlx 1200 Series
will be amended to conform to the 1200 Series of the other
Affiliated Exchanges prior to incorporating the Nasdaq 1200 Series
of rules into the Phlx rulebook.
---------------------------------------------------------------------------
The relocation and harmonization of the 1200 Series is part of the
Exchange's continued effort to promote efficiency and conformity of its
rules with those of its Affiliated Exchanges. The Exchange believes
that the placement of the 1200 Series of rules in their new location in
the shell will facilitate the use of the Rulebook by members of the
Exchange who are also members of one or more of the Affiliated
Exchanges. Moreover, the proposed changes will not amend the substance
of the 1200 Series of rules. They will simply renumber the rules by
adding ``General 4, Section 1.'' immediately before the current rule
number. Thus, for example, current Rule 1210 will be redesignated
``General 4, Section 1.1210''. Similarly, current references in the
Rulebook to the ``Rule 1200 Series'' will be changed to the ``General
4, Section 1.1200 Series''. Current Exchange rules--both within the
existing 1200 Series of rules and elsewhere in the Rulebook--that
cross-reference the current 1200 Series of rules will also be updated
to refer to the 1200 Series of rules as renumbered.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\6\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\7\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general to protect investors and the public interest.
The relocation and renumbering of the 1200 Series of rules and the
cross-reference updates are of a non-substantive nature. The proposal
is intended ultimately to facilitate the harmonization of the
Exchange's rules with those of its Affiliated Exchanges.
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\6\ 15 U.S.C. 78f(b).
\7\ 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 are
of a non-substantive nature.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \8\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\9\
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\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days from the date of filing. However, Rule
19b-4(f)(6)(iii) \10\ permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange has asked the Commission to waive the
30-day operative delay in order to expedite the Exchange's
reorganization of its Rulebook.\11\ The Exchange asserts the waiver
would help promote efficiency and conformity of its rules with those of
its Affiliated Exchanges. The proposed changes are non-substantive;
they relocate rules that were adopted by Nasdaq in a prior rule filing.
Waiver of the 30-day operative delay will enable Nasdaq to reorganize
its Rulebook without delay. Thus, the Commission believes that the
waiver of the 30-day operative delay is consistent with the public
interest and hereby waives the 30-day operative delay.\12\
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\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ See supra note 3.
\12\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is 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:
[[Page 60911]]
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-NASDAQ-2018-093 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-NASDAQ-2018-093. 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 the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NASDAQ-2018-093 and should be submitted on or before
December 18, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
Eduardo A. Aleman,
Assistant Secretary.
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\13\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2018-25740 Filed 11-26-18; 8:45 am]
BILLING CODE 8011-01-P
