Self-Regulatory Organizations; Nasdaq MRX, LLC; Order Approving a Proposed Rule Change To Adopt Complex Order Functionality, 25332-25333 [2019-11330]
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Federal Register / Vol. 84, No. 105 / Friday, May 31, 2019 / Notices
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 after the date of
the filing, or such shorter time as the
Commission may designate, it has
become effective pursuant to 19(b)(3)(A)
of the Act 12 and Rule 19b–4(f)(6) 13
thereunder.
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.
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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:
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–MIAX–2019–25 and should
be submitted on or before June 21, 2019.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11323 Filed 5–30–19; 8:45 am]
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–
MIAX–2019–25 on the subject line.
BILLING CODE 8011–01–P
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–MIAX–2019–25. 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
Self-Regulatory Organizations; Nasdaq
MRX, LLC; Order Approving a
Proposed Rule Change To Adopt
Complex Order Functionality
12 15
U.S.C. 78s(b)(3)(A).
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.
13 17
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16:42 May 30, 2019
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–85935; File No. SR–MRX–
2019–08]
May 24, 2019.
I. Introduction
On April 12, 2019, Nasdaq MRX, LLC
(‘‘MRX’’ or ‘‘Exchange’’) 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 proposal to adopt rules to
provide for the trading of Complex
Orders. The proposed rule change was
published for comment in the Federal
Register on April 23, 2019.3 The
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 85671
(April 17, 2019), 84 FR 16907 (‘‘Notice’’).
1 15
PO 00000
Frm 00102
Fmt 4703
Sfmt 4703
Commission received no comment
letters regarding the proposed rule
change. This order approves the
proposed rule change.
II. Description of the Proposed Rule
Change
MRX proposes to adopt rules
governing the trading of Complex
Orders.4 The proposed rules address,
among other things, the order types,
auction and crossing mechanisms,
trading increments, priority, execution,
opening process, risk protections,
obvious error provisions, and data feeds
for Complex Orders. MRX states that the
proposed Complex Order functionality
is identical to the Complex Order
functionality currently available on
Nasdaq ISE, LLC (‘‘ISE’’), and that the
proposed rules are identical to
corresponding ISE rules.5 As described
more fully in the Notice,6 MRX
proposes to, among other things: (1)
4 The term ‘‘Complex Order’’ includes Complex
Options Orders, Stock-Option Orders, and StockComplex Orders. Complex Options Orders, StockOption Orders, and Stock-Complex Orders are
orders for Complex Options Strategies, StockOption Strategies, and Stock-Complex Strategies,
respectively. See proposed MRX Rule 722(a)(5). A
Complex Options Strategy is the simultaneous
purchase and/or sale of two or more different
options series in the same underlying security, for
the same account, in a ratio that is equal to or
greater than one-to-three (.333) and less than or
equal to three-to-one (3.00) and for the purpose of
executing a particular investment strategy. Only
those Complex Options Strategies with no more
than the applicable number of legs, as determined
by the Exchange on a class-by-class basis, are
eligible for processing. A Stock-Option Strategy is
the purchase or sale of a stated number of units of
an underlying stock or a security convertible into
the underlying stock (‘‘convertible security’’)
coupled with the purchase or sale of options
contract(s) on the opposite side of the market
representing either (A) the same number of units of
the underlying stock or convertible security, or (B)
the number of units of the underlying stock
necessary to create a delta neutral position, but in
no case in a ratio greater than eight-to-one (8.00),
where the ratio represents the total number of units
of the underlying stock or convertible security in
the option leg to the total number of units of the
underlying stock or convertible security in the stock
leg. A Stock-Complex Strategy is the purchase or
sale of a stated number of units of an underlying
stock or a security convertible into the underlying
stock (‘‘convertible security’’) coupled with the
purchase or sale of a Complex Options Strategy on
the opposite side of the market representing either
(A) the same number of units of the underlying
stock or convertible security, or (B) the number of
units of the underlying stock necessary to create a
delta neutral position, but in no case in a ratio
greater than eight-to-one (8.00), where the ratio
represents the total number of units of the
underlying stock or convertible security in the
option legs to the total number of units of the
underlying stock or convertible security in the stock
leg. Only those Stock-Complex Strategies with no
more than the applicable number of legs, as
determined by the Exchange on a class-by-class
basis, are eligible for processing. See proposed MRX
Rules 722(a)(1), (2), and (3).
5 See Notice, 84 FR at 16907.
6 See note 3, supra.
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Federal Register / Vol. 84, No. 105 / Friday, May 31, 2019 / Notices
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Adopt new MRX Rule 722 to describe
the availability of certain order types for
Complex Orders and the priority and
execution of Complex Orders; 7 (2) add
a defined term, ‘‘Professional
Customer,’’ in MRX Rule 100(a)(54A); 8
(3) amend MRX Rule 714 to exclude
Complex Order transactions from the
anti-internalization protection; 9 (4)
amend MRX Rule 715 to define ‘‘legging
orders’’ and ‘‘QCC with Stock Orders’’
and to revise the Ouch to Trade Options
and Specialized Quote Feed protocols to
include complex instruments; 10 (5) add
a Complex Facilitation Mechanism and
Complex Solicited Order Mechanism to
MRX Rule 716; 11 (6) amend MRX Rule
718(a)(5) to adopt a new Nasdaq MRX
Spread Feed that will provide
information regarding Complex
Orders; 12 (7) amend MRX Rule 720,
relating to the nullification of trades and
obvious errors, to address transactions
in Complex Orders; 13 (8) revise MRX
Rule 721 to provide for Complex
Customer Cross Orders, Complex
Qualified Contingent Cross Orders, and
Qualified Contingent Cross Orders with
Stock; 14 (9) add a new Complex Price
Improvement Mechanism to MRX Rule
7 The Exchange represents that proposed MRX
Rule 722 is identical to ISE Rule 722. See Notice
at 16907. MRX also proposes to amend MRX Rules
702 (Trading Halts) and 710 (Minimum Trading
Increments) to account for Complex Orders. The
Exchange represents that MRX Rules 702 and 710,
as proposed to be amended, are identical to ISE
Rules 702 and 710, respectively. See id. at 16908
and 16910.
8 The Exchange represents that proposed MRX
Rule 100(a)(54A) is identical to ISE Rule
100(a)(54A). See id. at 16910.
9 The Exchange represents that proposed MRX
Rule 714(b)(3)(A) is identical to ISE Rule
714(b)(3)(A). See id.
10 The Exchange represents that the proposed
definitions of ‘‘legging orders’’ and ‘‘QCC with
Stock Orders’’ in proposed MRX Rules 715(k) and
(t) are identical to ISE Rules 715(k) and (t),
respectively. In addition, the Exchange represents
that the proposed amendment to the Ouch to Trade
Options and Specialized Quote Feed protocols in
proposed MRX Rule 715, Supplementary Material
.03(b) and (c) are identical to ISE Rule 715,
Supplementary Material .03(b) and (c). See id.
11 The Exchange represents that the proposed
Complex Facilitation Mechanism and Complex
Solicited Order Mechanism in MRX Rules 716(c)
and (e) are identical to ISE Rules 716(c) and (e),
respectively. In addition, proposed MRX Rules
716(f) and (g), addressing concurrent auctions, are
identical to ISE Rules 716(f) and (g). See id. at
16908–9.
12 The Exchange represents that proposed MRX
Rule 718(a)(5) is identical to ISE Rule 718(a)(5). See
id. at 16910. The Exchange also proposes to amend
the MRX Pricing Schedule to indicate that the
Nasdaq MRX Spread Feed will be available at no
cost. See id. and MRX Options Pricing Schedule,
Sections 6 and 7.
13 The Exchange represents that MRX Rule 720,
as proposed to be amended, is identical to ISE Rule
720. See id.
14 The Exchange represents that these orders are
identical to orders available on ISE. See id. at
16909.
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16:42 May 30, 2019
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723; 15 and (10) adopt new MRX Rule
724 to establish various risk protections
for Complex Orders.16 The proposal also
includes non-substantive and technical
changes related to the adoption of the
Complex Order functionality.
III. Discussion and Commission
Findings
After careful review, the Commission
finds that the proposed rule change is
consistent with the requirements of the
Act,17 and the rules and regulations
thereunder applicable to a national
securities exchange.18 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(5) of the Act,19 which requires,
among other things, that the rules of a
national securities exchange be
designed to prevent fraudulent and
manipulative acts and practices, 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, and
that the rules are not designed to permit
unfair discrimination between
customers, issuers, brokers, or dealers.
The Commission believes that the
proposed rules are consistent with the
Act because they are substantially
identical to ISE’s rules governing the
trading of Complex Orders, which the
Commission has reviewed previously.
Because they are substantially identical
to ISE’s Complex Order rules, MRX’s
proposed rules do not raise new or
novel regulatory issues. The
Commission believes that the proposed
rules could assist market participants in
making informed decisions regarding
the trading of Complex Orders on MRX,
including the order types, priority,
auction and crossing mechanisms, and
risk protections available for Complex
Orders traded on MRX.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,20 that the
15 The Exchange represents that the Complex
Price Improvement Mechanism in proposed MRX
Rule 723(e) is identical to ISE Rule 723(e). See id.
16 MRX proposes to adopt the following Complex
Order risk protections: Price Limits, Vertical Spread
Protections, Calendar Spread Protections, Butterfly
and Box Spread Protections, Limit Order Price
Protections, Size Limitations, and Price Level
Protections. The Exchange represents that proposed
MRX Rule 724 is identical to ISE Rule 724. See id.
17 15 U.S.C. 78f.
18 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
19 15 U.S.C. 78f(b)(5).
20 15 U.S.C. 78s(b)(2).
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25333
proposed rule change (SR–MRX–2019–
08) is approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.21
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019–11330 Filed 5–30–19; 8:45 am]
BILLING CODE 8011–01–P
SURFACE TRANSPORTATION BOARD
[Docket No. FD 36305]
Indiana Eastern Railroad, LLC—Lease
and Operation Exemption—CSX
Transportation, Inc.
Indiana Eastern Railroad, LLC (IERR),
a Class III carrier, has filed a verified
notice of exemption under 49 CFR
1150.41 for an extension of its lease
from CSX Transportation, Inc. (CSXT),
for operation of a 43-mile rail line
between milepost CI 61.9 at or near
Richmond, Ind., and milepost CI 18.9 at
or near Fernald, Ohio, in Wayne, Union,
and Franklin Counties, Ind., and Butler
and Hamilton Counties, Ohio (the
Line).1 The verified notice states that
IERR and CSXT have agreed to extend
the expiration date of their lease from
August 25, 2025, to May 6, 2029. IERR
will continue to operate the Line and
CSXT will remain as owner of the Line.
IERR certifies that the projected
annual rail revenues of IERR as a result
of the proposed transaction will not
exceed $5 million and that the
transaction will not result in the
creation of a Class II or a Class I rail
carrier. IERR states that the proposed
transaction does not involve an
interchange commitment.
The earliest this transaction may be
consummated is June 14, 2019, the
effective date of the exemption (30 days
after the verified notice was filed).
If the verified notice contains false or
misleading information, the exemption
is void ab initio. Petitions to revoke the
exemption under 49 U.S.C. 10502(d)
may be filed at any time. The filing of
a petition to revoke will not
automatically stay the effectiveness of
the exemption. Petitions to stay must be
filed no later than June 7, 2019 (at least
seven days before the exemption
becomes effective).
All pleadings, referring to Docket No.
FD 36305, must be filed with the
Surface Transportation Board either via
e-filing or in writing addressed to 395 E
21 17
CFR 200.30–3(a)(12).
2005, IERR obtained authority to lease and
operate the Line. Ind. E. R.R.—Lease & Operation
Exemption—CSX Transp., Inc., FD 34727 (STB
served Aug. 19, 2005).
1 In
E:\FR\FM\31MYN1.SGM
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]]>Agencies
[Federal Register Volume 84, Number 105 (Friday, May 31, 2019)]
[Notices]
[Pages 25332-25333]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-11330]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-85935; File No. SR-MRX-2019-08]
Self-Regulatory Organizations; Nasdaq MRX, LLC; Order Approving a
Proposed Rule Change To Adopt Complex Order Functionality
May 24, 2019.
I. Introduction
On April 12, 2019, Nasdaq MRX, LLC (``MRX'' or ``Exchange'') 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 proposal to adopt rules to provide
for the trading of Complex Orders. The proposed rule change was
published for comment in the Federal Register on April 23, 2019.\3\ The
Commission received no comment letters regarding the proposed rule
change. This order approves the proposed rule change.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 85671 (April 17,
2019), 84 FR 16907 (``Notice'').
---------------------------------------------------------------------------
II. Description of the Proposed Rule Change
MRX proposes to adopt rules governing the trading of Complex
Orders.\4\ The proposed rules address, among other things, the order
types, auction and crossing mechanisms, trading increments, priority,
execution, opening process, risk protections, obvious error provisions,
and data feeds for Complex Orders. MRX states that the proposed Complex
Order functionality is identical to the Complex Order functionality
currently available on Nasdaq ISE, LLC (``ISE''), and that the proposed
rules are identical to corresponding ISE rules.\5\ As described more
fully in the Notice,\6\ MRX proposes to, among other things: (1)
[[Page 25333]]
Adopt new MRX Rule 722 to describe the availability of certain order
types for Complex Orders and the priority and execution of Complex
Orders; \7\ (2) add a defined term, ``Professional Customer,'' in MRX
Rule 100(a)(54A); \8\ (3) amend MRX Rule 714 to exclude Complex Order
transactions from the anti-internalization protection; \9\ (4) amend
MRX Rule 715 to define ``legging orders'' and ``QCC with Stock Orders''
and to revise the Ouch to Trade Options and Specialized Quote Feed
protocols to include complex instruments; \10\ (5) add a Complex
Facilitation Mechanism and Complex Solicited Order Mechanism to MRX
Rule 716; \11\ (6) amend MRX Rule 718(a)(5) to adopt a new Nasdaq MRX
Spread Feed that will provide information regarding Complex Orders;
\12\ (7) amend MRX Rule 720, relating to the nullification of trades
and obvious errors, to address transactions in Complex Orders; \13\ (8)
revise MRX Rule 721 to provide for Complex Customer Cross Orders,
Complex Qualified Contingent Cross Orders, and Qualified Contingent
Cross Orders with Stock; \14\ (9) add a new Complex Price Improvement
Mechanism to MRX Rule 723; \15\ and (10) adopt new MRX Rule 724 to
establish various risk protections for Complex Orders.\16\ The proposal
also includes non-substantive and technical changes related to the
adoption of the Complex Order functionality.
---------------------------------------------------------------------------
\4\ The term ``Complex Order'' includes Complex Options Orders,
Stock-Option Orders, and Stock-Complex Orders. Complex Options
Orders, Stock-Option Orders, and Stock-Complex Orders are orders for
Complex Options Strategies, Stock-Option Strategies, and Stock-
Complex Strategies, respectively. See proposed MRX Rule 722(a)(5). A
Complex Options Strategy is the simultaneous purchase and/or sale of
two or more different options series in the same underlying
security, for the same account, in a ratio that is equal to or
greater than one-to-three (.333) and less than or equal to three-to-
one (3.00) and for the purpose of executing a particular investment
strategy. Only those Complex Options Strategies with no more than
the applicable number of legs, as determined by the Exchange on a
class-by-class basis, are eligible for processing. A Stock-Option
Strategy is the purchase or sale of a stated number of units of an
underlying stock or a security convertible into the underlying stock
(``convertible security'') coupled with the purchase or sale of
options contract(s) on the opposite side of the market representing
either (A) the same number of units of the underlying stock or
convertible security, or (B) the number of units of the underlying
stock necessary to create a delta neutral position, but in no case
in a ratio greater than eight-to-one (8.00), where the ratio
represents the total number of units of the underlying stock or
convertible security in the option leg to the total number of units
of the underlying stock or convertible security in the stock leg. A
Stock-Complex Strategy is the purchase or sale of a stated number of
units of an underlying stock or a security convertible into the
underlying stock (``convertible security'') coupled with the
purchase or sale of a Complex Options Strategy on the opposite side
of the market representing either (A) the same number of units of
the underlying stock or convertible security, or (B) the number of
units of the underlying stock necessary to create a delta neutral
position, but in no case in a ratio greater than eight-to-one
(8.00), where the ratio represents the total number of units of the
underlying stock or convertible security in the option legs to the
total number of units of the underlying stock or convertible
security in the stock leg. Only those Stock-Complex Strategies with
no more than the applicable number of legs, as determined by the
Exchange on a class-by-class basis, are eligible for processing. See
proposed MRX Rules 722(a)(1), (2), and (3).
\5\ See Notice, 84 FR at 16907.
\6\ See note 3, supra.
\7\ The Exchange represents that proposed MRX Rule 722 is
identical to ISE Rule 722. See Notice at 16907. MRX also proposes to
amend MRX Rules 702 (Trading Halts) and 710 (Minimum Trading
Increments) to account for Complex Orders. The Exchange represents
that MRX Rules 702 and 710, as proposed to be amended, are identical
to ISE Rules 702 and 710, respectively. See id. at 16908 and 16910.
\8\ The Exchange represents that proposed MRX Rule 100(a)(54A)
is identical to ISE Rule 100(a)(54A). See id. at 16910.
\9\ The Exchange represents that proposed MRX Rule 714(b)(3)(A)
is identical to ISE Rule 714(b)(3)(A). See id.
\10\ The Exchange represents that the proposed definitions of
``legging orders'' and ``QCC with Stock Orders'' in proposed MRX
Rules 715(k) and (t) are identical to ISE Rules 715(k) and (t),
respectively. In addition, the Exchange represents that the proposed
amendment to the Ouch to Trade Options and Specialized Quote Feed
protocols in proposed MRX Rule 715, Supplementary Material .03(b)
and (c) are identical to ISE Rule 715, Supplementary Material .03(b)
and (c). See id.
\11\ The Exchange represents that the proposed Complex
Facilitation Mechanism and Complex Solicited Order Mechanism in MRX
Rules 716(c) and (e) are identical to ISE Rules 716(c) and (e),
respectively. In addition, proposed MRX Rules 716(f) and (g),
addressing concurrent auctions, are identical to ISE Rules 716(f)
and (g). See id. at 16908-9.
\12\ The Exchange represents that proposed MRX Rule 718(a)(5) is
identical to ISE Rule 718(a)(5). See id. at 16910. The Exchange also
proposes to amend the MRX Pricing Schedule to indicate that the
Nasdaq MRX Spread Feed will be available at no cost. See id. and MRX
Options Pricing Schedule, Sections 6 and 7.
\13\ The Exchange represents that MRX Rule 720, as proposed to
be amended, is identical to ISE Rule 720. See id.
\14\ The Exchange represents that these orders are identical to
orders available on ISE. See id. at 16909.
\15\ The Exchange represents that the Complex Price Improvement
Mechanism in proposed MRX Rule 723(e) is identical to ISE Rule
723(e). See id.
\16\ MRX proposes to adopt the following Complex Order risk
protections: Price Limits, Vertical Spread Protections, Calendar
Spread Protections, Butterfly and Box Spread Protections, Limit
Order Price Protections, Size Limitations, and Price Level
Protections. The Exchange represents that proposed MRX Rule 724 is
identical to ISE Rule 724. See id.
---------------------------------------------------------------------------
III. Discussion and Commission Findings
After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act,\17\ and the
rules and regulations thereunder applicable to a national securities
exchange.\18\ In particular, the Commission finds that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\19\ which
requires, among other things, that the rules of a national securities
exchange be designed to prevent fraudulent and manipulative acts and
practices, 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, and that the rules are not designed to permit unfair
discrimination between customers, issuers, brokers, or dealers. The
Commission believes that the proposed rules are consistent with the Act
because they are substantially identical to ISE's rules governing the
trading of Complex Orders, which the Commission has reviewed
previously. Because they are substantially identical to ISE's Complex
Order rules, MRX's proposed rules do not raise new or novel regulatory
issues. The Commission believes that the proposed rules could assist
market participants in making informed decisions regarding the trading
of Complex Orders on MRX, including the order types, priority, auction
and crossing mechanisms, and risk protections available for Complex
Orders traded on MRX.
---------------------------------------------------------------------------
\17\ 15 U.S.C. 78f.
\18\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
\19\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
IV. Conclusion
It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\20\ that the proposed rule change (SR-MRX-2019-08) is approved.
---------------------------------------------------------------------------
\20\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------
\21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Deputy Secretary.
[FR Doc. 2019-11330 Filed 5-30-19; 8:45 am]
BILLING CODE 8011-01-P
