31436 Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See proposed Fee Schedule, NYSE FANG+ 

Index (FAANG) Transaction Fees. 

5See id. The term Market Maker, as used herein, 

includes NYSE Arca Options Market Makers and 

Lead Market Makers (or LMMs). 

6See proposed Fee Schedule, Endnote 2 

(providing that ‘‘[t]he Lead Market Maker Rights 

Fee does not apply to options on the NYSE FANG+ 

Index (FAANG)’’). 

7See proposed Fee Schedule, Endnote 8 

(providing that ‘‘[a]ny volume in options on NYSE 

FANG+ (FAANG) would be included in 

calculations to qualify for any volume-based 

incentives currently being offered on the 

Exchange’’). 

Office of Management and Budget 

(‘‘OMB’’) a request for approval of 

extension of the previously approved 

collection of information provided for in 

Rule 15g–6—Account Statements for 

Penny Stock Customers—(17 CFR 

240.15g–6) under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.). 

Rule 15g–6 requires brokers and 

dealers that sell penny stocks to provide 

their customers monthly account 

statements containing information with 

regard to the penny stocks held in 

customer accounts. The purpose of the 

rule is to increase the level of disclosure 

to investors concerning penny stocks 

generally and specific penny stock 

transactions. 

The Commission estimates that 

approximately 195 broker-dealers will 

spend an average of 78 hours annually 

to comply with this rule. Thus, the total 

compliance burden is approximately 

15,210 burden-hours per year. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

The public may view background 

documentation for this information 

collection at the following website: 

http://www.reginfo.gov. Comments 

should be directed to: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503 or by sending an 

email to: Shagufta_Ahmed@

omb.eop.gov; and (ii) Pamela Dyson, 

Director/Chief Information Officer, 

Securities and Exchange Commission, 

c/o Candace Kenner, 100 F Street NE, 

Washington, DC 20549 or by sending an 

email to PRA_Mailbox@sec.gov. 

Comments must be submitted within 30 

days of this notice. 

Dated: June 28, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14357 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83554; File No. SR– 

NYSEArca–2018–49] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Modify the NYSE Arca 

Options Fee Schedule 

June 28, 2018. 

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 June 27, 

2018, NYSE Arca, Inc. (the ‘‘Exchange’’ 

or ‘‘NYSE Arca’’) 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to modify the 

NYSE Arca Options Fee Schedule (‘‘Fee 

Schedule’’). The Exchange proposes to 

implement the fee change effective June 

27, 2018. 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this filing is to modify 

the Fee Schedule, effective 27, 2018, to 

introduce fees for the newly listed 

options on the NYSE FANG+ Index 

(‘‘NYSE FANG+’’), which will trade 

under the symbol FAANG. 

The Exchange proposes that for fee 

purposes transactions in FAANG 

options would not be treated as adding 

or removing liquidity, but rather that all 

transactions, both manual and 

electronic, be charged by account status. 

As proposed, the Exchange would 

charge $0.35 per contract, per side for 

non-Customer and Professional 

Customer NYSE FANG+ transactions, 

whether executed manually or 

electronically.4 However, the Exchange 

would not charge a fee for any FAANG 

transactions (i) on behalf of Customers 

or (ii) by Market Makers with an 

appointment in NYSE FANG+.5 Market 

Makers that do not have an appointment 

in NYSE FANG+ will be subject to the 

same fee of $0.35 per contract, per side 

for non-Customer and Professional 

Customer NYSE FANG+ transactions. 

Further, the Exchange would not 

impose the Lead Market Maker Rights 

Fees upon allocation in options on 

NYSE FANG+.6 The Exchange notes 

that volume in NYSE FANG+ would be 

included in calculations to qualify for 

any volume-based incentives currently 

being offered on the Exchange, 

including (but not limited to) the NonCustomer, Non-Penny Pilot Posting 

Tiers (as applicable) and the Firm and 

Broker Dealer Monthly Fee Cap.7

The Exchange believes the proposed 

fees for NYSE FANG+ would further the 

Exchange’s goal of introducing new 

products to the marketplace by 

encouraging trading in this index, in 

particular by encouraging Market 

Makers to make a market in these 

products, which would in turn, benefit 

market participants. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act, in general, and 

furthers the objectives of Sections 

6(b)(4) and (5) of the Act, in particular, 

because it provides for the equitable 

allocation of reasonable dues, fees, and 


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Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 31437 

8See, e.g., Fee Schedule, TRANSACTION FEE 

FOR MANUAL EXECUTIONS—PER CONTRACT 

(providing that non-Customers (i.e., NYSE Arca 

Options Market Makers, Firms and Broker Dealers) 

and Professional Customers are charged a total 

$0.25 per contract for manual executions, while 

Customers are charged $0.00 per contract for 

manual executions). 

9See, e.g., Rules 6.82–O, 6.37A–O, 6.37B–O 

(setting forth heightened quoting obligations). 

10See, e.g., Securities Exchange Act Release No. 

77294 (March 4, 2016), 81 FR 12775 (March 10, 

2016) (SR–NYSEArca–2016–40) (addressing the 

treatment of Binary Return Derivatives—or ByRDs— 

and exempting such transactions from all Exchange 

fees to encourage trading in the product). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(2). 

13 15 U.S.C. 78s(b)(2)(B). 

other charges among its members, 

issuers and other persons using its 

facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes the proposal to 

implement fees for options on NYSE 

FANG+ is reasonable, equitable and not 

unfairly discriminatory for the following 

reasons. The Exchange believes the 

proposed fees, which apply equally to 

electronic and manual (open outcry) 

transactions, on behalf of nonCustomers and Professional Customers, 

on the one hand, and Customers, on the 

other hand, to be reasonable and 

equitable because the proposed 

differentiation among market 

participants for NYSE FANG+ fees is 

consistent with the manner in which the 

Exchange distinguishes among market 

participants for fee purposes in other 

contexts.8 The Exchange believes that 

not imposing fees for NYSE FANG+ 

transactions on behalf of Customers is 

likewise reasonable, equitable and not 

unfairly discriminatory because 

Customer order flow enhances liquidity 

on the Exchange for the benefit of all 

market participants. Specifically, 

Customer liquidity benefits all market 

participants by providing more trading 

opportunities, which attracts Market 

Makers. An increase in the activity of 

Market Makers in turn facilitates tighter 

spreads, which may cause an additional 

corresponding increase in order flow 

from other market participants. 

The Exchange believes that applying 

the same fee on all non-Customer and 

Professional Customer NYSE FANG+ 

option transactions, other than those by 

Market Makers with an appointment in 

NYSE FANG+, is non-discriminatory 

because it applies to all similarly 

situated participants on an equal basis 

that opt to trade the product. Moreover, 

the decision to transact in NYSE FANG+ 

(or, for Market Makers, to seek an 

appointment) is voluntary. The 

Exchange believes that allowing Market 

Makers with an appointment in NYSE 

FANG+ to transact in the product free of 

charge is not unfairly discriminatory 

because Market Makers have heightened 

obligations that are not applicable to 

other non-Customer and Professional 

Customer market participants.9 It is also 

non-discriminatory because all Market 

Makers may apply for an appointment 

in NYSE FANG+ options. Further, 

encouraging Market Makers to seek an 

appointment in, and thus provide 

continuous quotes in, NYSE FANG+ 

would add liquidity to the market and 

provide market participants—both 

Customer and non-Customer alike— 

increased opportunities to trade options 

on NYSE FANG+. The Exchange 

believes that exempting transactions in 

NYSE FANG+ from the monthly Rights 

Fees would likewise encourage trading 

in NYSE FANG+ options, which 

increase in the availability of such 

options would benefit all market 

participants. 

Further, the proposal to include any 

volume in NYSE FANG+ in the 

calculations to qualify for any volumebased incentives offered on the 

Exchange would further the Exchange’s 

goal of introducing new products to the 

marketplace by encouraging trading in 

these products. To the extent that the 

proposed change incentivizes any 

market participants to direct their order 

flow to the Exchange, all market 

participants would benefit from 

increased liquidity and trading 

opportunities on the Exchange. Finally, 

the Exchange notes that offering market 

participants incentives to trade in 

certain newly offered products is not 

new or novel.10

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act, the Exchange does not believe 

that the proposed rule change would 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange believes the proposed 

transaction fees for NYSE FANG+ 

would not place an unfair burden on 

competition as it would apply to all 

similarly situated non-Customer/nonMarket Maker participants. The 

Exchange also believes the proposed 

pricing for NYSE FANG+ is 

procompetitive as it would further the 

Exchange’s goal of introducing new 

products to the marketplace and 

encouraging Market Makers to make a 

market in these products, which would 

in turn, benefit market participants. 

Market participants that do not wish to 

trade in or seek an appointment in 

NYSE FANG+ are not obliged to do so. 

The Exchange does not believe that 

the proposed change will impair the 

ability of any market participants or 

competing order execution venues to 

maintain their competitive standing in 

the financial markets. Further, the fees 

would be applied to all similarly 

situated participants (i.e., nonCustomers and Professional Customers), 

and, as such, the proposed change 

would not impose a disparate burden on 

competition either among or between 

classes of market participants. 

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 foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 11 of the Act and 

subparagraph (f)(2) of Rule 19b–4 12

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such 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 

under Section 19(b)(2)(B) 13 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

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

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File No. SR– 

NYSEArca–2018–49 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 


amozie on DSK3GDR082PROD with NOTICES1
31438 Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 

14 17 CFR 200.30–3(a)(12). 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File No. 

SR–NYSEArca–2018–49. 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 No. 

SR–NYSEArca–2018–49, and should be 

submitted on or before July 26, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14363 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–156, OMB Control No. 

3235–0288] 

Submission for OMB Review; 

Comment Request 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Form 20–F 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collection of information 

discussed below. 

Form 20–F (17 CFR 249.220f) is used 

to register securities of foreign private 

issuers pursuant to Section 12 of the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) (15 U.S.C. 78l) or as 

annual and transitional reports pursuant 

to Sections 13 and 15(d) of the Exchange 

Act (15 U.S.C. 78m(a) and 78o(d)). The 

information required in the Form 20–F 

is used by investors in making 

investment decisions with respect to the 

securities of such foreign private 

issuers. We estimate that Form 20–F 

takes approximately 2,649.52 hours per 

response and is filed by approximately 

725 respondents. We estimate that 25% 

of the 2,649.52 hours per response 

(662.3806 hours) is prepared by the 

issuer for a total reporting burden of 

480,226 (662.3806 hours per response × 

725 responses). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Candace Kenner, 100 F 

Street NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: June 28, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14359 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Regulation G, SEC File No. 270–518, OMB 

Control No. 3235–0576 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collection of information 

discussed below. 

Regulation G (17 CFR 244.100– 

244.102) under the Securities Exchange 

Act of 1934 (the ‘‘Exchange Act’’) (15 

U.S.C. 78a et seq.) requires publicly 

reporting companies that disclose or 

releases financial information in a 

manner that is calculated or presented 

other than in accordance with generally 

accepted accounting principles 

(‘‘GAAP’’) to provide a reconciliation of 

the non-GAAP financial information to 

the most directly comparable GAAP 

financial measure. Regulation G 

implemented the requirements of 

Section 401 of the Sarbanes-Oxley Act 

of 2002 (15 U.S.C. 7261). We estimate 

that approximately 14,000 public 

companies must comply with 

Regulation G approximately six times a 

year for a total of 84,000 responses 

annually. We estimated that it takes 

approximately 0.5 hours per response 

(84,000 × 0.5 hours) for a total reporting 

burden of 42,000 hours annually. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: Shagufta_

Ahmed@omb.eop.gov; and (ii) Pamela 

Dyson, Director/Chief Information 

Officer, Securities and Exchange 

Commission, c/o Candace Kenner, 100 F 

Street NE, Washington, DC 20549 or 

send an email to: PRA_Mailbox@

sec.gov. Comments must be submitted to 

OMB within 30 days of this notice. 

Dated: June 28, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14361 Filed 7–3–18; 8:45 am] 

BILLING CODE 8011–01–P 


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