Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Assessed on Members To Establish a Monthly Trading Rights Fee, 68197 [2019-26838]

Download as PDF Federal Register / Vol. 84, No. 240 / Friday, December 13, 2019 / Notices For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–26840 Filed 12–12–19; 8:45 am] BILLING CODE 8011–01–P BILLING CODE 8011–01–P [Release No. 34–87688; File No. SR– CboeBZX–2019–041] Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Assessed on Members To Establish a Monthly Trading Rights Fee December 9, 2019. On May 2, 2019, Cboe BZX Exchange, Inc. (‘‘BZX’’ or the ‘‘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 proposed rule change to amend the BZX Fee Schedule to establish a monthly Trading Rights Fee to be assessed on Members.3 The proposed rule change was immediately effective upon filing with the Commission pursuant to Section 19(b)(3)(A) of the Act.4 The proposed rule change was published for comment in the Federal Register on May 16, 2019.5 On June 28, 2019, the Commission temporarily suspended the proposed rule change and instituted proceedings to determine whether to approve or disapprove the proposed rule change.6 In response to the BZX OIP, the Commission received three comment letters, including a response letter from the Exchange.7 On November 12, 2019, pursuant to Section 19(b)(2) of the Act,8 the Commission designated a longer period within which to approve or disapprove the proposed rule CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 The Commission notes that BZX initially filed the proposed rule change on April 29, 2019 (SR– CboeBZX–2019–036). On May 2, 2019, BZX withdrew that filing and submitted the present proposal (SR–CboeBZX–2019–041). 4 15 U.S.C. 78s(b)(3)(A). 5 See Securities Exchange Act Release No. 85840 (May 10, 2019), 84 FR 22190. 6 See Securities Exchange Act Release No. 86233, 84 FR 32230 (July 05, 2019) (‘‘BZX OIP’’). 7 See Letters from Theodore R. Lazo, Managing Director and Associate General Counsel, SIFMA, dated July 26, 2019; Tyler Gellasch, Executive Director, Healthy Markets, dated July 26, 2019; and Rebecca Tenuta, Counsel, Cboe Global Markets, dated August 9, 2019. 8 15 U.S.C. 78s(b)(2). jbell on DSKJLSW7X2PROD with NOTICES 1 15 VerDate Sep<11>2014 17:42 Dec 12, 2019 Jkt 250001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Jill M. Peterson, Assistant Secretary. [FR Doc. 2019–26838 Filed 12–12–19; 8:45 am] SECURITIES AND EXCHANGE COMMISSION 10 17 change.9 On November 22, 2019, the Exchange withdrew the proposed rule change (SR–CboeBZX–2019–041). SECURITIES AND EXCHANGE COMMISSION [Release No. 34–87691; File No. SR–Phlx– 2019–52] Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Order Types and Remove and Relocate Certain Rule Text Currently Located Within Rule 1080 December 9, 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 November 26, 2019, Nasdaq PHLX LLC (‘‘Phlx’’ 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 self-regulatory organization. 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 order types and remove and relocate certain rule text currently located within Rule 1080, titled ‘‘Electronic Acceptance of Quotes and Orders. Further, the Exchange proposes to amend Phlx Rules 1000, titled ‘‘Applicability, Definitions and References’’ to add definitions for ‘‘Order Entry Firm’’ and ‘‘Away Best Bid or Offer or ABBO’’ and remove the defined term ‘‘Agency Order.’’ The Exchange proposes to amend Rule 1014, titled ‘‘Obligations of Market Makers,’’ 3 9 See Securities Exchange Act Release No. 87500, 84 FR 63700 (November 18, 2019). The Commission designated January 11, 2020, as the date by which the Commission would approve or disapprove the proposed rule change. 10 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 ROTs include Streaming Quote Traders (‘‘SQTs’’) and Remote Streaming Quote Traders (‘‘RSQTs’’). A ROT is a regular member or a foreign PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 68197 to permit Registered Options Traders (‘‘ROTS’’) and Specialists to enter orders. The Exchange proposes to update cross references within Rule 1017, titled ‘‘Opening in Options.’’ The rule text within Rule 1078, titled ‘‘Allor-None Orders’’ is being relocated to Rule 1080. The order types within Rule 1098 titled ‘‘Complex Orders on the System,’’ and Options 8, Section 32, titled ‘‘Certain Types of Floor-Based (Non-System) Orders Defined’’ are being amended to correspond to changes within Rule 1080 order types. Finally, Options 8, Section 39, at A–3 titled ‘‘All-or-None Option Orders’’ is being amended to update the floor applicability of this order type. The text of the proposed rule change is available on the Exchange’s website at https://nasdaqphlx.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 amend Rule 1080, entitled ‘‘Electronic Acceptance of Quotes and Orders’’ by: currency options participant of the Exchange who has received permission from the Exchange to trade in options for his own account. An SQT is an ROT who has received permission from the Exchange to generate and submit option quotations electronically in options to which such SQT is assigned. An SQT may only submit such quotations while such SQT is physically present on the floor of the Exchange. An SQT may only trade in a market making capacity in classes of options in which the SQT is assigned. An RSQT is an ROT that is a member affiliated with an RSQT with no physical trading floor presence who has received permission from the Exchange to generate and submit option quotations electronically in options to which such RSQT has been assigned. A qualified RSQT may function as a Remote Specialist upon Exchange approval. The Exchange notes that a Specialist, which is defined in Rule 1020, is a Registered Options Trader. For purposes of this rule the Exchange would note ROTs and Specialists, where applicable to be complete. E:\FR\FM\13DEN1.SGM 13DEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 84, Number 240 (Friday, December 13, 2019)]
[Notices]
[Page 68197]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-26838]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-87688; File No. SR-CboeBZX-2019-041]


Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of 
Withdrawal of a Proposed Rule Change To Amend the Fee Schedule Assessed 
on Members To Establish a Monthly Trading Rights Fee

December 9, 2019.
    On May 2, 2019, Cboe BZX Exchange, Inc. (``BZX'' or the 
``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 
proposed rule change to amend the BZX Fee Schedule to establish a 
monthly Trading Rights Fee to be assessed on Members.\3\ The proposed 
rule change was immediately effective upon filing with the Commission 
pursuant to Section 19(b)(3)(A) of the Act.\4\ The proposed rule change 
was published for comment in the Federal Register on May 16, 2019.\5\ 
On June 28, 2019, the Commission temporarily suspended the proposed 
rule change and instituted proceedings to determine whether to approve 
or disapprove the proposed rule change.\6\ In response to the BZX OIP, 
the Commission received three comment letters, including a response 
letter from the Exchange.\7\ On November 12, 2019, pursuant to Section 
19(b)(2) of the Act,\8\ the Commission designated a longer period 
within which to approve or disapprove the proposed rule change.\9\ On 
November 22, 2019, the Exchange withdrew the proposed rule change (SR-
CboeBZX-2019-041).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ The Commission notes that BZX initially filed the proposed 
rule change on April 29, 2019 (SR-CboeBZX-2019-036). On May 2, 2019, 
BZX withdrew that filing and submitted the present proposal (SR-
CboeBZX-2019-041).
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ See Securities Exchange Act Release No. 85840 (May 10, 
2019), 84 FR 22190.
    \6\ See Securities Exchange Act Release No. 86233, 84 FR 32230 
(July 05, 2019) (``BZX OIP'').
    \7\ See Letters from Theodore R. Lazo, Managing Director and 
Associate General Counsel, SIFMA, dated July 26, 2019; Tyler 
Gellasch, Executive Director, Healthy Markets, dated July 26, 2019; 
and Rebecca Tenuta, Counsel, Cboe Global Markets, dated August 9, 
2019.
    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See Securities Exchange Act Release No. 87500, 84 FR 63700 
(November 18, 2019). The Commission designated January 11, 2020, as 
the date by which the Commission would approve or disapprove the 
proposed rule change.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2019-26838 Filed 12-12-19; 8:45 am]
BILLING CODE 8011-01-P

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