Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Date of the Second Amended and Restated Certificate of Incorporation of the Exchange and the Third Amended and Restated Certificate of Incorporation of the Exchange's Parent CHX Holdings, Inc., 2637-2639 [2019-01388]
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Federal Register / Vol. 84, No. 26 / Thursday, February 7, 2019 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85026; File No. SR–
NYSEArca–2018–54]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Designation of
Longer Period for Commission Action
on Proceedings To Determine Whether
To Approve or Disapprove a Proposed
Rule Change To Amend Commentary
.01 to NYSE Arca Rule 8.600–E
Relating to Certain Generic Listing
Standards for Managed Fund Shares
February 1, 2019.
On July 18, 2018, NYSE Arca, Inc.
filed with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to amend certain generic listing
standards for Managed Fund Shares.
The proposed rule change was
published for comment in the Federal
Register on August 7, 2018.3 On
September 19, 2018, pursuant to Section
19(b)(2) of the Act,4 the Commission
designated a longer period within which
to approve the proposed rule change,
disapprove the proposed rule change, or
institute proceedings to determine
whether to approve or disapprove the
proposed rule change.5 On November 1,
2018, the Commission issued an order
instituting proceedings pursuant to
Section 19(b)(2)(B) of the Act 6 to
determine whether to approve or
disapprove the proposed rule change.7
The Commission has received no
comment letters on the proposed rule
change.
Section 19(b)(2) of the Act 8 provides
that, after initiating disapproval
proceedings, the Commission shall issue
an order approving or disapproving the
proposed rule change not later than 180
days after the date of publication of
notice of filing of the proposed rule
change. The Commission may extend
the period for issuing an order
approving or disapproving the proposed
rule change, however, by not more than
60 days if the Commission determines
that a longer period is appropriate and
publishes the reasons for such
determination. In this case, the
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 83759
(August 1, 2018), 83 FR 38753.
4 15 U.S.C. 78s(b)(2).
5 See Securities Exchange Act Release No. 84195,
83 FR 48474 (September 25, 2018).
6 15 U.S.C. 78s(b)(2)(B).
7 See Securities Exchange Act Release No. 84517,
83 FR 55773 (November 7, 2018).
8 15 U.S.C. 78s(b)(2).
2 17
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17:23 Feb 06, 2019
Jkt 247001
proposed rule change was published for
notice and comment in the Federal
Register on August 7, 2018. February 3,
2019, is 180 days from that date, and
April 4, 2019, is 240 days from that
date.
The Commission finds it appropriate
to designate a longer period within
which to issue an order approving or
disapproving the proposed rule change
so that it has sufficient time to consider
the proposed rule change. Accordingly,
the Commission, pursuant to Section
19(b)(2) of the Act,9 designates April 4,
2019, as the date by which the
Commission shall either approve or
disapprove the proposed rule change
(File No. SR–NYSEArca–2018–54).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–01383 Filed 2–6–19; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85034; File No. SR–CHX–
2019–01]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Amend
the Date of the Second Amended and
Restated Certificate of Incorporation of
the Exchange and the Third Amended
and Restated Certificate of
Incorporation of the Exchange’s Parent
CHX Holdings, Inc.
February 1, 2019.
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 January
28, 2019, the Chicago Stock Exchange,
Inc. (‘‘CHX’’ or ‘‘Exchange’’) 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.
2637
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend the
date of the Amended [sic] and Restated
Certificate of Incorporation of the
Exchange (‘‘Exchange Certificate’’) and
the Second [sic] Amended and Restated
Certificate of Incorporation of the
Exchange’s parent CHX Holdings, Inc.
(‘‘Holdings’’ and, such certificate, the
‘‘Holdings Certificate’’). The proposed
rule 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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend the
date of the Exchange Certificate and the
Holdings Certificate.
On October 18, 2018, the Exchange
filed proposed amendments to the
Exchange Certificate, Holdings
Certificate, other governing documents,
the Exchange rules and its fee schedule,
to (1) reflect a name change of the
Exchange to ‘‘NYSE Chicago, Inc.’’ and
a name change of Holdings to ‘‘NYSE
Holdings, Inc.’’; (2) harmonize certain
provisions thereunder with similar
provisions in the governing documents
of the national securities exchange
affiliates of the Exchange and its parent
companies; and (3) make clarifying and
updating changes.4 The Exchange
proposed that the name changes and
other changes described therein would
become operative upon the Exchange
Certificate becoming effective pursuant
9 Id.
10 17
CFR 200.30–3(a)(57).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
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Fmt 4703
Sfmt 4703
4 See SR–CHX–2018–05 (October 18, 2018) (the
‘‘October Filing’’), and Securities Exchange Release
No. 84494 (October 26, 2018), 83 FR 54953
(November 1, 2018) (SR–CHX–2018–05).
E:\FR\FM\07FEN1.SGM
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2638
Federal Register / Vol. 84, No. 26 / Thursday, February 7, 2019 / Notices
to its filing with the Secretary of State
of the State of Delaware.5
The proposed amendments to the
Exchange Certificate and Holdings
Certificate in the October Filing
included updates to their respective
dates.6 However, the proposed changes
updated the Certificates’ month and
time, but left 2018 as the year. Because
it is now 2019, the Exchange proposes
the following changes:
• In the Exchange Certificate, amend
the signature line to replace ‘‘2018’’
with ‘‘2019’’; and
• In the Holdings Certificate, amend
Article XIV (Effective Time) and the
signature line to replace ‘‘2018’’ with
‘‘2019.’’
The proposed rule change is a nonsubstantive administrative change. The
Exchange proposes that the changes and
described herein would become
operative upon the Exchange Certificate
becoming effective pursuant to its filing
with the Secretary of State of the State
of Delaware.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Exchange Act 7 in
general, and with Section 6(b)(1) 8 in
particular, in that it enables the
Exchange to be so organized as to have
the capacity to be able to carry out the
purposes of the Exchange Act and to
comply, and to enforce compliance by
its exchange members and persons
associated with its exchange members,
with the provisions of the Exchange Act,
the rules and regulations thereunder,
and the rules of the Exchange. The
Exchange also believes that the
proposed rule change is consistent with
Section 6(b)(5) of the Exchange Act 9
because the proposed rule change
would be consistent with and facilitate
a governance and regulatory structure
that it is designed to prevent fraudulent
and manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system and, in
general, to protect investors and the
public interest.
The proposed amendments are nonsubstantive changes that do not impact
5 Id.,
at 54953.
Filing, Exhibit 5A, at 125, and Exhibit
5C, at 152.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(1).
9 15 U.S.C. 78f(b)(5).
6 October
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19:44 Feb 06, 2019
Jkt 247001
the governance or ownership of the
Exchange. The Exchange believes that
the proposed amendments would
reduce potential investor and market
participant confusion and therefore
remove impediments to and perfect the
mechanism of a free and open market
and a national market system by
ensuring that the Exchange Certificate
and Holdings Certificate accurately
reflect the date they are signed and
operative, ensuring that investors and
market participants can more easily
understand the Exchange Certificate and
Holdings Certificate.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Exchange Act.
The proposed rule change is not
designed to address any competitive
issue but rather is concerned solely with
ensuring that the Exchange Certificate
and Holdings Certificate accurately
reflect the date they are signed and
operative.
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 proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 10 and Rule 19b–4(f)(3) 11
thereunder in that the proposed rule
change is concerned solely with the
administration of the Exchange.
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may 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) 12 of the Act to determine
whether the proposed rule change
should be approved or disapproved.
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(3).
12 15 U.S.C. 78s(b)(2)(B).
11 17
PO 00000
Frm 00152
Fmt 4703
Sfmt 4703
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–
CHX–2019–01 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–CHX–2019–01. 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 such
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–CHX–2019–01, and should
be submitted on or before February 28,
2019.
E:\FR\FM\07FEN1.SGM
07FEN1
Federal Register / Vol. 84, No. 26 / Thursday, February 7, 2019 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–01388 Filed 2–6–19; 8:45 am]
BILLING CODE 8011–01–P
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85024; File No. SR–GEMX–
2018–45]
Self-Regulatory Organizations; Nasdaq
GEMX, LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the
Exchange’s Provisions for Excluding a
Day From Its Volume Calculations
February 1, 2019.
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 December
21, 2018, Nasdaq GEMX, LLC (‘‘GEMX’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘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
The Exchange proposes to amend the
Exchange’s provisions for excluding a
day from its volume calculations for
purposes of determining pricing tiers.
The text of the proposed rule change
is available on the Exchange’s website at
https://nasdaqgemx.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
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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19:44 Feb 06, 2019
Jkt 247001
The purpose of the proposed rule
change is to amend the Exchange’s
provisions for excluding a day from its
volume calculations for purposes of
determining pricing tiers. The Exchange
is standardizing its practice for
removing a day from volume
calculations in its Pricing Schedule with
its affiliated options market, Nasdaq
PHLX LLC (‘‘Phlx’’).3 Each change is
discussed below.
Background
To avoid penalizing members when
aberrant low volume days result from
systems or other issues at the Exchange,
or where the Exchange closes early for
holiday observance, the Exchange
currently has language in its Pricing
Schedule allowing it to exclude certain
days from its average daily volume
(‘‘ADV’’) calculations. Currently,
language in the Exchange’s Pricing
Schedule provides that, for purposes of
determining ADV for certain incentive
programs,4 any day that the market is
not open for the entire trading day or
the Exchange instructs members in
writing to route their orders to other
markets may be excluded from such
calculation; provided that the Exchange
will only remove the day for members
that would have a lower ADV with the
day included. The proviso language
(hereinafter, the ‘‘better of rule’’)
ensures that members would only have
the day removed when doing so is
beneficial for the member. As such, the
Exchange only applies the better of rule
to ADV calculations, and not for other
volume-based pricing where members
would not benefit from having the day
excluded (e.g., straight volume
accumulations).
Proposal
In Options 7, Section 1, the Exchange
proposes to adopt subsection (a) with
the title ‘‘Removal of Days for Purposes
of Pricing Tiers,’’ and renumber the
3 See Phlx Pricing Schedule, Options 7, Section
1(b). The Exchange’s other affiliated options
markets, Nasdaq ISE, Nasdaq MRX, Nasdaq BX, and
The Nasdaq Options Market will also file similar
rule change proposals to conform to Phlx’s rule.
4 The current language in the Pricing Schedule
applies to the calculations of Total Affiliated
Member ADV and Priority Customer Maker ADV
used to determine tiered maker rebates and taker
fees for members. See Options 7, Section 3, Table
1 (Qualifying Tier Thresholds).
PO 00000
Frm 00153
Fmt 4703
Sfmt 4703
2639
existing first paragraph (related to fee
disputes) as subsection (b). The
Exchange also proposes to adopt new
language in subsection (a) that is
substantially similar to language
currently in place on Phlx.5
Specifically, as proposed:
(1)(A) Any day that the Exchange
announces in advance that it will not be
open for trading will be excluded from
the options tier calculations set forth in
its Pricing Schedule; and (B) any day
with a scheduled early market close
(‘‘Scheduled Early Close’’) may be
excluded from the options tier
calculations only pursuant to paragraph
(3) below.
(2) The Exchange may exclude the
following days (‘‘Unanticipated
Events’’) from the options tier
calculations only pursuant to paragraph
(3) below, specifically any day that:
(A) The market is not open for the
entire trading day, (B) the Exchange
instructs members in writing to route
their orders to other markets, (C) the
Exchange is inaccessible to members
during the 30-minute period before the
opening of trade due to an Exchange
system disruption, or (D) the Exchange’s
system experiences a disruption that
lasts for more than 60 minutes during
regular trading hours.
(3) If a day is to be excluded as a
result of paragraph (1)(B) or (2) above,
the Exchange will exclude the day from
any member’s monthly options tier
calculations as follows:
(A) The Exchange may exclude from
the ADV calculation any Scheduled
Early Close or Unanticipated Event; or
(B) the Exchange may exclude from
any other applicable options tier
calculation provided for in its Pricing
Schedule (together with (3)(A), ‘‘Tier
Calculations’’) any Scheduled Early
Close or Unanticipated Event.
provided, in each case, that the
Exchange will only remove the day for
members that would have a lower Tier
Calculation with the day included.
The proposed language: (i) Applies
the rule for excluding days to all volume
based calculations rather than specified
incentive programs,6 (ii) expands upon
the existing scenarios where the
Exchange may remove a day to adopt
two additional situations related to
Exchange systems disruptions, (iii)
5 See
note 3 above.
note 4 above. Since the proposed language
will now apply to all current and future programs
administered by the Exchange that are based on
ADV and other applicable volume calculations, the
current rule in Options 7, Section 3 will be replaced
by the proposed language in Section 1(a) with the
modifications described above, including language
providing that the rule will apply to all Tier
Calculations in its Pricing Schedule.
6 See
E:\FR\FM\07FEN1.SGM
07FEN1
]]>Agencies
[Federal Register Volume 84, Number 26 (Thursday, February 7, 2019)]
[Notices]
[Pages 2637-2639]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-01388]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85034; File No. SR-CHX-2019-01]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the Date of the Second Amended and Restated Certificate of
Incorporation of the Exchange and the Third Amended and Restated
Certificate of Incorporation of the Exchange's Parent CHX Holdings,
Inc.
February 1, 2019.
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 January 28, 2019, the Chicago Stock Exchange, Inc.
(``CHX'' or ``Exchange'') 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 the
Substance of the Proposed Rule Change
The Exchange proposes to amend the date of the Amended [sic] and
Restated Certificate of Incorporation of the Exchange (``Exchange
Certificate'') and the Second [sic] Amended and Restated Certificate of
Incorporation of the Exchange's parent CHX Holdings, Inc. (``Holdings''
and, such certificate, the ``Holdings Certificate''). The proposed rule
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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend the date of the Exchange Certificate
and the Holdings Certificate.
On October 18, 2018, the Exchange filed proposed amendments to the
Exchange Certificate, Holdings Certificate, other governing documents,
the Exchange rules and its fee schedule, to (1) reflect a name change
of the Exchange to ``NYSE Chicago, Inc.'' and a name change of Holdings
to ``NYSE Holdings, Inc.''; (2) harmonize certain provisions thereunder
with similar provisions in the governing documents of the national
securities exchange affiliates of the Exchange and its parent
companies; and (3) make clarifying and updating changes.\4\ The
Exchange proposed that the name changes and other changes described
therein would become operative upon the Exchange Certificate becoming
effective pursuant
[[Page 2638]]
to its filing with the Secretary of State of the State of Delaware.\5\
---------------------------------------------------------------------------
\4\ See SR-CHX-2018-05 (October 18, 2018) (the ``October
Filing''), and Securities Exchange Release No. 84494 (October 26,
2018), 83 FR 54953 (November 1, 2018) (SR-CHX-2018-05).
\5\ Id., at 54953.
---------------------------------------------------------------------------
The proposed amendments to the Exchange Certificate and Holdings
Certificate in the October Filing included updates to their respective
dates.\6\ However, the proposed changes updated the Certificates' month
and time, but left 2018 as the year. Because it is now 2019, the
Exchange proposes the following changes:
---------------------------------------------------------------------------
\6\ October Filing, Exhibit 5A, at 125, and Exhibit 5C, at 152.
---------------------------------------------------------------------------
In the Exchange Certificate, amend the signature line to
replace ``2018'' with ``2019''; and
In the Holdings Certificate, amend Article XIV (Effective
Time) and the signature line to replace ``2018'' with ``2019.''
The proposed rule change is a non-substantive administrative
change. The Exchange proposes that the changes and described herein
would become operative upon the Exchange Certificate becoming effective
pursuant to its filing with the Secretary of State of the State of
Delaware.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Exchange Act \7\ in general, and with Section
6(b)(1) \8\ in particular, in that it enables the Exchange to be so
organized as to have the capacity to be able to carry out the purposes
of the Exchange Act and to comply, and to enforce compliance by its
exchange members and persons associated with its exchange members, with
the provisions of the Exchange Act, the rules and regulations
thereunder, and the rules of the Exchange. The Exchange also believes
that the proposed rule change is consistent with Section 6(b)(5) of the
Exchange Act \9\ because the proposed rule change would be consistent
with and facilitate a governance and regulatory structure that it is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(1).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The proposed amendments are non-substantive changes that do not
impact the governance or ownership of the Exchange. The Exchange
believes that the proposed amendments would reduce potential investor
and market participant confusion and therefore remove impediments to
and perfect the mechanism of a free and open market and a national
market system by ensuring that the Exchange Certificate and Holdings
Certificate accurately reflect the date they are signed and operative,
ensuring that investors and market participants can more easily
understand the Exchange Certificate and Holdings Certificate.
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 that is not necessary or appropriate
in furtherance of the purposes of the Exchange Act. The proposed rule
change is not designed to address any competitive issue but rather is
concerned solely with ensuring that the Exchange Certificate and
Holdings Certificate accurately reflect the date they are signed and
operative.
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 proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(3) \11\ thereunder in
that the proposed rule change is concerned solely with the
administration of the Exchange.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may 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) \12\ of the Act to determine whether the proposed rule
change should be approved or disapproved.
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\12\ 15 U.S.C. 78s(b)(2)(B).
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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-CHX-2019-01 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-CHX-2019-01. 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 such filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CHX-2019-01, and should be submitted on
or before February 28, 2019.
[[Page 2639]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-01388 Filed 2-6-19; 8:45 am]
BILLING CODE 8011-01-P
