26726 Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices 

9 15 U.S.C. 78s(b)(3)(A)(iii). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 9 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.10

A proposed rule change filed under 

Rule 19b–4(f)(6) 11 normally does not 

become operative prior to 30 days after 

the date of the filing. However, Rule 

19b–4(f)(6)(iii) 12 permits the 

Commission to designate a shorter time 

if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become effective and 

operative immediately upon filing. The 

Exchange states that it believes the 

waiver will further the protection of 

investors and the public interest 

because it will provide greater 

transparency as to various ports 

available to market participants. The 

Exchange further states that the 

proposed rule change will bring greater 

clarity to the Schedule of Fees. The 

Commission believes that waiver of the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest. Therefore, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposed rule change as operative upon 

filing.13

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

ISE–2018–48 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–ISE–2018–48. 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 (http://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–ISE–2018–48 and should be 

submitted on or before June 29, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12322 Filed 6–7–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83369; File No. SR–GEMX– 

2018–18] 

Self-Regulatory Organizations; Nasdaq 

GEMX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend and 

Reorganize Chapter IV of the GEMX 

Schedule of Fees 

June 4, 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 May 22, 

2018, Nasdaq GEMX, LLC (‘‘GEMX’’ 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 amend and 

reorganize Chapter IV of the GEMX 

Schedule of Fees. 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://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 

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 

Chapters IV of the GEMX Schedule of 

Fees to: (i) Eliminate the Table of 


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Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices 26727 

3 GEMX rules are located at: http://nasdaqgemx.c

chwallstreet.com/. 

4The Exchange offers various services across its 

6 affiliated options markets, Nasdaq Phlx LLC, 

Nasdaq BX, Inc., The Nasdaq Options Market LLC, 

Nasdaq GEMX, LLC, Nasdaq MRX, LLC and Nasdaq 

ISE, LLC (‘‘Nasdaq Affiliated Markets’’). 

5See SR–GEMX–2018–17 (not yet published). 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78f(b)(8). 

9 15 U.S.C. 78s(b)(3)(A)(iii). 

Contents; (ii) relocate the Port Fees 

currently in Section IV, E to Section IV, 

C, retitle these fees ‘‘Ports and Other 

Services’’ and amend and reorganize the 

current port fees; and (iv) reserve 

Section IV, Part E. Each change will be 

described in more detail below. The 

Exchange believes that the proposed 

amendments to the Schedule of Fees 

will provide more clarity as to the 

current fees. The Exchange notes that no 

fee changes are being introduced with 

this rule change. The Exchange is 

simply reorganizing its rules to conform 

to other Nasdaq affiliate markets by 

aligning the location and description of 

its rules on each market. 

Table of Contents 

The Exchange proposes to eliminate 

the Table of Contents in the GEMX 

Schedule of Fees. The Table Contents 

are unnecessary. The website where the 

GEMX rules are listed 3 contains 

hyperlinks and a skeleton of the 

available rules within the site and 

enables market participants to view all 

rules in that section. 

Port Fees 

The Exchange currently lists all Port 

Fees within Chapter IV, Part E. The 

Exchange proposes to relocate the Port 

Fees to Chapter VI, Part C, which is 

currently reserved, and retitle those fees 

as ‘‘Ports and Other Services.’’ The 

Exchange believes that this title more 

accurately describes the types of fees 

contained in this chapter. The Exchange 

proposes to restructure the port fees. 

First, the Exchange proposes to add 

language at the beginning of this new 

chapter to state, ‘‘The below charges are 

assessed by GEMX for connectivity to 

GEMX.’’ The Exchange believes that this 

sentence makes clear that the fees apply 

to GEMX. The Exchange proposes to 

define a port as ‘‘a logical connection or 

session that enables a market participant 

to send inbound messages and/or 

receive outbound messages from the 

Exchange using various communication 

protocols.’’ The Exchange believes this 

definition will assist members in 

distinguishing ports from other 

offerings. 

The Exchange proposes to restructure 

the port fees into 4 categories. The 

Exchange proposes to list order and 

quote protocols first, order and 

execution offerings next, followed by 

data ports and other ports as the last 

section. The Exchange proposes to list 

data offerings that are offered at no cost. 

The Exchange believes that aligning its 

offerings, where relevant, with other 

affiliated markets 4 will provide more 

transparency as to the offerings for 

market participants. 

The Exchange proposes to add a new 

section (i) and include the following 

introductory sentence, ‘‘The following 

order and quote protocols are available 

on GEMX.’’ The Exchange proposes to 

list the order entry protocol port fees for 

FIX, SQF, SQF Purge Port and OTTO in 

this section. The fees are not being 

amended, the existing fees are being 

relocated into new section (i). 

The Exchange proposes to add a new 

section (ii) and include the following 

introductory sentence, ‘‘The following 

order and execution information is 

available to Members.’’ The Exchange 

intends to list other port or interface 

information into this section that are 

available to GEMX Members. The 

Exchange is relocating the CTI and FIX 

DROP port fees. No changes are being 

made to those fees. The Exchange also 

proposes to list TradeInfo GEMX 

Interface into this section. The Exchange 

has recently filed to establish this 

Interface within the GEMX rules.5 The 

Exchange proposes to note this interface 

is available on GEMX at no cost. 

The Exchange proposes to add a new 

section (iii) and include the following 

language, ‘‘The following data port fees 

apply in connection with data 

subscriptions pursuant to GEMX Rules 

at Chapter V. These ports are available 

to non-GEMX Members and GEMX 

Members.’’ Today, GEMX does not 

assess a fee for these ports outlined in 

new section (iii). Similar to other 

Nasdaq Affiliated Markets the Exchange 

proposes to list all of the ports that 

Members and Non-Members obtain 

today at no cost. The Exchange believes 

that listing these ports in addition to the 

data subscriptions will bring more 

transparency to the Schedule of Fees. 

The Exchange proposes to add a new 

section (iv) entitled ‘‘Other ports’’ and 

relocate the Disaster Recovery Ports into 

this section. The Exchange also 

proposes to make clear that a Disaster 

Recovery Port is available for any port 

listed in proposed sections (i)–(iii). 

The Exchange proposes to reserve 

current Chapter IV, Part E. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Securities Exchange 

Act of 1934 (the ‘‘Act’’),6 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,7 in particular, in that it is 

designed to promote just and equitable 

principles of trade, to remove 

impediments to and perfect the 

mechanism for a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest, by providing greater 

transparency as to the ports offered on 

GEMX. 

The Exchange’s proposal to remove 

the Table of Contents, relocate the Port 

Fees, retitle and restructure those fees 

and reserve Chapter IV, Part E are 

administrative. These changes are 

consistent with the protection of 

investor and the public interest because 

the amendments are intended to bring 

greater clarity to the Rulebook. The 

Exchange’s proposal to reorganize the 

port fees into sections and include 

pricing for ports that are offered at no 

cost is also consistent with the 

protection of investor and the public 

interest because it will bring greater 

transparency to the Exchange’s current 

offerings. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,8 the Exchange does not believe 

that the proposed rule change will 

impose any burden on intermarket or 

intra-market competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange’s proposal does not impose an 

undue burden on competition, rather 

the Exchange is seeking to provide 

greater transparency within its rules 

with respect to the various ports offered 

on GEMX. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 9 and 


amozie on DSK3GDR082PROD with NOTICES1
26728 Federal Register / Vol. 83, No. 111 / Friday, June 8, 2018 / Notices 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

subparagraph (f)(6) of Rule 19b–4 

thereunder.10

A proposed rule change filed under 

Rule 19b–4(f)(6) 11 normally does not 

become operative prior to 30 days after 

the date of the filing. However, Rule 

19b–4(f)(6)(iii) 12 permits the 

Commission to designate a shorter time 

if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposed 

rule change may become effective and 

operative immediately upon filing. The 

Exchange states that it believes the 

waiver will further the protection of 

investors and the public interest 

because it will provide greater 

transparency as to various ports 

available to market participants. The 

Exchange further states that the 

proposed rule change will bring greater 

clarity to the Schedule of Fees. The 

Commission believes that waiver of the 

30-day operative delay is consistent 

with the protection of investors and the 

public interest. Therefore, the 

Commission hereby waives the 30-day 

operative delay and designates the 

proposed rule change as operative upon 

filing.13

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

GEMX–2018–18 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–GEMX–2018–18. 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 (http://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–GEMX–2018–18 and 

should be submitted on or before June 

29, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–12321 Filed 6–7–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83365; File No. SR–GEMX– 

2018–17] 

Self-Regulatory Organizations; Nasdaq 

GEMX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Memorialize Order and 

Execution Information Into GEMX Rule 

718 

June 4, 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 May 23, 

2018, Nasdaq GEMX, LLC (‘‘GEMX’’ 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. Regulatory Organization’s Statement 

of the Terms of Substance of the 

Proposed Rule Change 

The Exchange proposes to 

memorialize its order and execution 

information into GEMX Rule 718, 

entitled ‘‘Data Feeds.’’ 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://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 

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 add order 

and execution information into GEMX 


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