Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Relocate the Exchange's Options Exercise and Delivery Rules, 62392-62394 [2018-26143]
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62392
Federal Register / Vol. 83, No. 232 / Monday, December 3, 2018 / Notices
previously stated, they (i) are of a nonsubstantive nature, (ii) are intended to
harmonize the numbering convention 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’
navigation and reading of the rules
across the Affiliated Exchanges.
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 7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 9 normally does not become
operative for 30 days after the date of its
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
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
Exchange’s options exercise and
delivery rules, which the Exchange
believes will improve the organization
and readability of the Exchange’s
Rulebook. Therefore, 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
7 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.
9 17 CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
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8 17
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Jkt 247001
designates the proposed rule change
operative upon filing.11
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.
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–BX–2018–056 and should
be submitted on or before December 24,
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.12
Eduardo A. Aleman,
Assistant Secretary.
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–
BX–2018–056 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
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–BX–2018–056. 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
[FR Doc. 2018–26138 Filed 11–30–18; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–84660; File No. SR–
NASDAQ–2018–094]
Self-Regulatory Organizations; The
Nasdaq Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Relocate
the Exchange’s Options Exercise and
Delivery Rules
November 27, 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
(‘‘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 a proposal
to relocate the Exchange’s options
exercise and delivery rules, currently in
Chapter VIII of the Exchange’s rulebook
(‘‘Rulebook’’), to Options 5, Section 100
in the Rulebook’s shell structure.3
12 17
11 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).
PO 00000
Frm 00103
Fmt 4703
Sfmt 4703
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
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
1 15
E:\FR\FM\03DEN1.SGM
03DEN1
Federal Register / Vol. 83, No. 232 / Monday, December 3, 2018 / Notices
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
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
Exchange’s options exercise and
delivery rules, currently in Chapter VIII
of the Rulebook, to Options 5, Section
100 in the Exchange’s rulebook’s
(‘‘Rulebook’’) shell structure. The
relocation of the options exercise and
delivery rules is part of the Exchange’s
continued effort to promote efficiency
and the structural conformity of its
processes with those of its Affiliated
Exchanges.4 The Exchange believes that
the migration of the options exercise
and delivery rules to their new location
will facilitate the use of the Rulebook by
members of the Exchange who are
members of other Affiliated Exchanges.
Moreover, the proposed changes are of
a non-substantive nature and will not
amend the relocated rules other than to
update their numbers, redesignate the
current ‘‘Supplementary Material’’ as
‘‘Commentary’’, and make conforming
cross-reference changes.
khammond on DSK30JT082PROD with NOTICES
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,5 in general, and furthers the
objectives of Section 6(b)(5) of the Act,6
closer to those of its five sister exchanges, Nasdaq
BX, Inc.; Nasdaq PHLX LLC; Nasdaq ISE, LLC;
Nasdaq GEMX, LLC; and Nasdaq MRX, LLC
(‘‘Affiliated Exchanges’’). See Securities Exchange
Act Release No. 82175 (November 29, 2017), 82 FR
57494 (December 5, 2017) (SR–NASDAQ–2017–
125).
4 See footnote 3.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
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16:52 Nov 30, 2018
Jkt 247001
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 the structural
conformity of the Exchange’s processes
with those of the Affiliated Exchanges
and by making the Exchange’s Rulebook
easier to read and more accessible to its
members. The Exchange believes that
the relocation of the options exercise
and delivery rules and the crossreference updates are of a nonsubstantive nature.
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 numbering 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’
navigation and reading of the rules
across the Affiliated Exchanges.
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 7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
7 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.
8 17
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
62393
Act 9 normally does not become
operative for 30 days after the date of its
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
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
Exchange’s options exercise and
delivery rules, which the Exchange
believes will improve the organization
and readability of the Exchange’s
Rulebook. Therefore, 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.11
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 rule-comments@
sec.gov. Please include File Number SR–
NASDAQ–2018–094 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.
9 17
CFR 240.19b–4(f)(6).
CFR 240.19b–4(f)(6)(iii).
11 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).
10 17
E:\FR\FM\03DEN1.SGM
03DEN1
62394
Federal Register / Vol. 83, No. 232 / Monday, December 3, 2018 / Notices
All submissions should refer to File
Number SR–NASDAQ–2018–094. 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–NASDAQ–2018–094 and
should be submitted on or before
December 24, 2018.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018–26143 Filed 11–30–18; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–84661; File No. SR–
CboeEDGX–2018–055]
khammond on DSK30JT082PROD with NOTICES
Self-Regulatory Organizations; Cboe
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change Relating To
Modify Certain Routing Fees
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
16:52 Nov 30, 2018
Jkt 247001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Cboe EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) is filing with
the Securities and Exchange
Commission (‘‘Commission’’) a
proposed rule change to modify certain
Routing Fees.
The text of the proposed rule change
is also available on the Exchange’s
website (https://www.cboe.com/
AboutCBOE/CBOELegal
RegulatoryHome.aspx), at the
Exchange’s Office of the Secretary, and
at the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
November 27, 2018.
notice is hereby given that on November
13, 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.
1. Purpose
The Exchange proposes to amend its
fee schedule to amend pricing for orders
routed to Cboe EDGA Exchange, Inc.,
(‘‘EDGA’’) for securities at or above
$1.00, which yield fee codes A, I, RA
and RR.3 Particularly, as of November 1,
2018, EDGA implemented pricing
changes for transactions that add and
remove liquidity.4 The filing generally
proposes that orders that add liquidity
3 The Exchange initially filed the proposed fee
changes on November 1, 2018 (SR–CboeEDGX–
2018–050). On business date November 13, 2018,
the Exchange withdrew that filing and submitted
this filing.
4 See SR–CboeEDGA–2018–017.
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
will be assessed a fee of $0.00300 per
share and orders that remove liquidity
will be provided a rebate of $0.00240
per share. Based on the changes in
pricing at EDGA, the Exchange proposes
the pricing changes described below.
First, the Exchange notes that orders
routed to EDGA using ALLB routing
strategy (which yield fee code AA) and
orders routed to EDGA using DIRC
routing strategy (which yield fee code
RR) are currently assessed $0.00030 per
share. The Exchange proposes to
eliminate this fee and instead provide a
rebate of $0.00240 per share for these
orders. Similarly, orders routed to
EDGA (which yield fee code I) are
currently assessed $0.00290 per share,
but the Exchange proposes to eliminate
the fee and instead provide a rebate of
$0.00240 per share. Lastly, the Exchange
notes that orders routed to EDGA that
add liquidity (which yield fee code RA)
are assessed $0.00030 per share. The
Exchange proposes to increase the rate
from $0.00030 per share to $0.00300 per
share.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6 of the Act,5 in general, and
furthers the objectives of Section
6(b)(4),6 in particular, as it is designed
to provide for the equitable allocation of
reasonable dues, fees and other charges
among its Members and other persons
using its facilities.
The Exchange believes the proposed
changes are reasonable because they
reflect a pass-through of the pricing
changes by EDGA described above. The
Exchange further believes the proposed
fee change is non-discriminatory
because it applies uniformly to all
Members. The Exchange lastly notes
that routing through the Exchange is
voluntary and that it operates in a
highly competitive market in which
market participants can readily direct
order flow to competing venues or
providers of routing services if they
deem fee levels to be excessive.
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
Exchange believes the proposed routing
fee changes will not impose an undue
burden on competition because the
Exchange will uniformly assess the
affected routing fees on all Members.
5 15
6 15
E:\FR\FM\03DEN1.SGM
U.S.C. 78f.
U.S.C. 78f(b)(4).
03DEN1
]]>Agencies
[Federal Register Volume 83, Number 232 (Monday, December 3, 2018)]
[Notices]
[Pages 62392-62394]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-26143]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-84660; File No. SR-NASDAQ-2018-094]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Relocate the Exchange's Options Exercise and Delivery Rules
November 27, 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
(``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 proposal to relocate the Exchange's
options exercise and delivery rules, currently in Chapter VIII of the
Exchange's rulebook (``Rulebook''), to Options 5, Section 100 in the
Rulebook's shell structure.\3\
---------------------------------------------------------------------------
\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, Nasdaq
BX, Inc.; Nasdaq PHLX LLC; Nasdaq ISE, LLC; Nasdaq GEMX, LLC; and
Nasdaq MRX, LLC (``Affiliated Exchanges''). See Securities Exchange
Act Release No. 82175 (November 29, 2017), 82 FR 57494 (December 5,
2017) (SR-NASDAQ-2017-125).
---------------------------------------------------------------------------
[[Page 62393]]
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 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 Exchange's options exercise
and delivery rules, currently in Chapter VIII of the Rulebook, to
Options 5, Section 100 in the Exchange's rulebook's (``Rulebook'')
shell structure. The relocation of the options exercise and delivery
rules is part of the Exchange's continued effort to promote efficiency
and the structural conformity of its processes with those of its
Affiliated Exchanges.\4\ The Exchange believes that the migration of
the options exercise and delivery rules to their new location will
facilitate the use of the Rulebook by members of the Exchange who are
members of other Affiliated Exchanges. Moreover, the proposed changes
are of a non-substantive nature and will not amend the relocated rules
other than to update their numbers, redesignate the current
``Supplementary Material'' as ``Commentary'', and make conforming
cross-reference changes.
---------------------------------------------------------------------------
\4\ See footnote 3.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\5\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\6\ 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 the structural conformity of the Exchange's
processes with those of the Affiliated Exchanges and by making the
Exchange's Rulebook easier to read and more accessible to its members.
The Exchange believes that the relocation of the options exercise and
delivery rules and the cross-reference updates are of a non-substantive
nature.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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
numbering 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' navigation and reading of the rules
across the Affiliated Exchanges.
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 \7\ and Rule 19b-
4(f)(6) thereunder.\8\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \9\ normally does not become operative for 30 days after the date
of its 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 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 Exchange's options exercise and delivery rules, which the Exchange
believes will improve the organization and readability of the
Exchange's Rulebook. Therefore, 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.\11\
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ 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-NASDAQ-2018-094 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.
[[Page 62394]]
All submissions should refer to File Number SR-NASDAQ-2018-094. 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-NASDAQ-2018-094 and
should be submitted on or before December 24, 2018.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-26143 Filed 11-30-18; 8:45 am]
BILLING CODE 8011-01-P
