31824 Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f). 9 17 CFR 200.30–3(a)(12). 

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 Act. The 

Exchange does not believe that the 

proposed change to customer MSCI 

options transaction fees will cause any 

unnecessary burden on intramarket 

competition because, while customers 

are assessed different, and often lower, 

fee rates than other market participants, 

Customer order flow enhances liquidity 

on the Exchange for the benefit of all 

market participants. Moreover, the 

options industry has a long history of 

providing preferential pricing to 

Customers, and the Exchange’s current 

Fees Schedule currently does so in 

many places. Additionally, the 

proposed Customer fee amount will be 

applied equally to all Customers 

(meaning that all Customers will be 

assessed the same amount for MSCI 

Options). The Exchange does not 

believe that the proposed changes to the 

customer MSCI Options transaction fees 

will cause any unnecessary burden on 

intermarket competition because the 

change only affects trading on Cboe 

Options. To the extent that the proposed 

changes make Cboe Options a more 

attractive marketplace for market 

participants at other exchanges, such 

market participants are welcome to 

become Cboe Options market 

participants. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 7 and paragraph (f) of Rule 

19b–4 8 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 

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 Number SR– 

CBOE–2018–049 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–CBOE–2018–049. 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–CBOE–2018–049 and 

should be submitted on or before July 

30, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14549 Filed 7–6–18; 8:45 am] 

BILLING CODE P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; 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 10–Q, SEC File No. 270–49, OMB 

Control No. 3235–0070 

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’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the office of 

Management and Budget for approval of 

extensions on the following: 

Form 10–Q (17 CFR 249.308a) is filed 

by issuers of securities to satisfy their 

quarterly reporting obligations pursuant 

to Section 13 or 15(d) of the Exchange 

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

78o(d)). The information provided by 

Form 10–Q is intended to ensure the 

adequacy of information available to 

investors about an issuer. Form 10–Q 

takes approximately 187.43 hours per 

response to prepare and is filed by 

approximately 22,907 respondents. We 

estimated that 75% of the 

approximately 187.43 hours per 

response (140.57 hours) is prepared by 

the company for an annual reporting 

burden of 3,220,037 hours (140.57 hours 

per response x 22,907 responses). 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 131 / Monday, July 9, 2018 / Notices 31825 

1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3MSCI LMMs would serve as MSCI LMMs during 

the RTH session only. 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication. 

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. 

Please direct your written comment to 

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. 

Dated: July 3, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–14650 Filed 7–6–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83585; File No. SR–CBOE– 

2018–050] 

Self-Regulatory Organizations; Cboe 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Its Fees 

Schedule To Adopt a Financial 

Incentive Program for Lead MarketMakers Appointed in MSCI EAFE Index 

Options and MSCI Emerging Markets 

Index Options 

July 2, 2018. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on July 2, 

2018, Cboe Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘Cboe Options’’) 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 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 its 

Fees Schedule to adopt a financial 

incentive program for Lead MarketMakers appointed in MSCI EAFE Index 

(MXEA) options and MSCI Emerging 

Markets Index (MXEF) options 

(collectively, MSCI options), effective 

July 2, 2018. 

The text of the proposed rule change 

is available on the Exchange’s website 

(http://www.cboe.com/AboutCBOE/ 

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

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 its 

Fees Schedule to adopt a financial 

incentive program for Lead MarketMakers appointed in MSCI EAFE Index 

(MXEA) options and MSCI Emerging 

Markets Index (MXEF) options 

(collectively, MSCI options), effective 

July 2, 2018. More specifically, the 

Exchange proposes to provide a 

financial incentive to any Market-Maker 

that is appointed as a Lead MarketMaker (‘‘LMM’’) in MXEA and/or MXEF 

(‘‘MSCI LMM’’) and meet a heightened 

quoting standard, to be set forth in the 

Fees Schedule.3 MSCI LMM(s) that meet 

the heightened quoting standard (which 

shall be explained herein), will receive 

$20,000 per month/per product. 

By way of background, pursuant to 

Rule 8.15(a), the Exchange may approve 

one or more Market-Makers to act as 

LMMs in a class for which a Designated 

Primary Market-Maker (‘‘DPM’’) has not 

been appointed, for a term of no less 

than the time until the end of the thencurrent expiration cycle. In addition to 

a LMM’s requirement to fulfill all 

obligations of a Market-Maker under the 

Exchange Rules, a LMM must also 

satisfy heightened quoting obligations 

set forth in Rule 8.15(b). 

The Exchange proposes to provide in 

the Fees Schedule that through 

December 31, 2018, if a MSIC LMM 

meets the heightened standard 

described below, the LMM in each class 

will receive $20,000 per month, per 

their respective appointed class. 

Specifically, the LMM will receive 

$20,000 per month/per class if it 

provides continuous electronic quotes 

that meet or exceed the following 

heightened quoting standards in at least 

90% of the MXEA and/or MXEF series 

it must quote pursuant to Rule 8.15(b) 

90% of the time in a given month: 

Premium level 

Expiring 7 days or less Near term 8 days to 60 

days 

Mid term 61 days to 270 

days 

Long term 271 days or 

greater 

Width Size Width Size Width Size Width Size 

$0–$5.00 ........................................................... $3.00 5 $1.50 20 $2.50 15 $5.00 10 

$5.01–$15.00 .................................................... 6.00 3 3.00 15 5.00 10 10.00 7 

$15.01–$50.00 .................................................. 15.00 2 7.50 10 10.00 7 20.00 5 

$50.01–$100.00 ................................................ 25.00 1 15.00 7 20.00 5 30.00 3 

$100.01–$200.00 .............................................. 40.00 1 25.00 3 35.00 3 48.00 2 

Greater Than $200.01 ....................................... 60.00 1 40.00 1 50.00 1 72.00 1 

The Exchange may consider other 

exceptions to this quoting standard 

based on demonstrated legal or 

regulatory requirements or other 

mitigating circumstances. For purposes 

of the financial benefit, MSCI LMM(s) 

will not be obligated to satisfy the 

heightened quoting standard shown 

above. Rather, the MSCI LMM(s) will 

only receive the financial benefit if they 

satisfy the abovementioned heightened 

quoting standard. If a MSCI LMM does 

not meet the heightened quoting 

standard, then it simply will not receive 

the financial benefit for that month. The 


sradovich on DSK3GMQ082PROD with NOTICES