Federal Register / Vol. 83, No. 136 / Monday, July 16, 2018 / Notices 32929 

1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 

from section 9(a) of the Act requested 

pursuant to the Application or the 

revocation or removal of any temporary 

exemptions granted under the Act in 

connection with the application. 

2. Each Applicant and Covered Person 

will adopt and implement policies and 

procedures reasonably designed to 

ensure that it will comply with the 

terms and conditions of the Orders 

within 60 days of the date of the 

Permanent Order. 

3. CS&Co. will comply with the terms 

and conditions of the Consent. 

4. The Applicants will provide 

written notification to the Chief Counsel 

of the Commission’s Division of 

Investment Management with a copy to 

the Chief Counsel of the Commission’s 

Division of Enforcement of a material 

violation of the terms and conditions of 

the Orders and Consent within 30 days 

of discovery of the material violation. 

Temporary Order 

The Commission has considered the 

matter and finds that Applicants have 

made the necessary showing to justify 

granting a temporary exemption. 

Accordingly, 

It is hereby ordered, pursuant to 

section 9(c) of the Act, that the 

Applicants and any other Covered 

Persons are granted a temporary 

exemption from the provisions of 

section 9(a), effective as of the date of 

the Injunction, solely with respect to the 

Injunction, subject to the 

representations and conditions in the 

application, until the Commission takes 

final action on their application for a 

permanent order. 

By the Commission. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15078 Filed 7–13–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83616; File No. SR– 

NYSEARCA–2018–51] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Modify the NYSE Arca 

Options Fee Schedule 

July 10, 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 July 2, 

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 July 

2, 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 July 2, 2018, 

to provide an incentive for Floor 

Brokers to bring business to the Trading 

Floor in the newly listed options on the 

NYSE FANG+ Index (‘‘NYSE FANG+’’), 

which trades under the symbol FAANG. 

The Exchange proposes to introduce 

rebates for Floor Broker organizations 

that execute a certain number of 

FAANG contract sides on the Exchange 

in a calendar month, based on the 

highest Tier achieved (the ‘‘Rebate’’). 

The volume Tiers, and the associated 

proposed Rebate, are set forth as 

follows: 

FAANG REBATE

Tier Floor broker FAANG executions Rebate 

1 ........................ From 200 to 999 contract sides ........................................................................................................................... ($1,000) 

2 ........................ From 1,000 to 1,999 contract sides ..................................................................................................................... (2,500) 

3 ........................ 2,000 to 19,999 contract sides ............................................................................................................................. (5,000) 

4 ........................ 20,000 or more contract sides .............................................................................................................................. (10,000) 

The Exchange believes the proposed 

Rebate would further the Exchange’s 

goal of introducing new products to the 

marketplace by encouraging trading in 

this index, in particular by encouraging 

Floor Brokers to bring business to the 

Trading Floor, which would in turn, 

benefit all market participants through 

increased liquidity and more 

opportunities to trade. 

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 

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 

introduce a Floor Broker Rebate for 

executing a certain number of options 

contract sides on NYSE FANG+ is 

reasonable, equitable and not unfairly 

discriminatory for the following 

reasons. The Exchange believes the 

proposed rebates, which apply equally 

to all Floor Broker transactions in NYSE 

FANG+, regardless of account type, to 


sradovich on DSK3GMQ082PROD with NOTICES
32930 Federal Register / Vol. 83, No. 136 / Monday, July 16, 2018 / Notices 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(2). 

6 15 U.S.C. 78s(b)(2)(B). 

7 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

be reasonable and equitable because 

business brought to the Trading Floor 

may be on behalf of any market 

participant. In addition, such orders 

benefit all market participants by 

providing more trading opportunities, 

which attracts Market Makers, 

Customers and other participants. An 

increase in activity, in turn, facilitates 

tighter spreads, which may result in a 

corresponding increase in order flow 

from all market participants. 

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 

rebates for Floor Broker organizations 

that achieve the proposed Rebate would 

not place an unfair burden on 

competition as it would apply to all 

similarly situated Floor Brokers, and is 

applicable to business from all account 

types. The Exchange also believes the 

proposed Rebate is procompetitive as it 

would further the Exchange’s goal of 

introducing new products to the 

marketplace and encouraging Floor 

Brokers to bring business to the Trading 

Floor, which would in turn, benefit all 

market participants. Market participants 

that do not wish to trade 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 

proposed Rebate would be applied to all 

similarly situated participants (i.e., 

Floor Brokers), 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) 4 of the Act and 

subparagraph (f)(2) of Rule 19b–4 5

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) 6 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 Number SR– 

NYSEARCA–2018–51 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE, Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEARCA–2018–51. 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–NYSEARCA–2018–51 and 

should be submitted on or before 

August 6, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–15082 Filed 7–13–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83617; File No. SR– 

NYSEAMER–2018–36] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change To Modify the NYSE American 

Options Fee Schedule 

July 10, 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 July 2, 

2018, NYSE American LLC (the 

‘‘Exchange’’ or ‘‘NYSE American’’) 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 selfregulatory 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 American Options Fee Schedule 

(‘‘Fee Schedule’’). The Exchange 

proposes to implement the fee change 

effective July 2, 2018. The proposed 

change is available on the Exchange’s 


sradovich on DSK3GMQ082PROD with NOTICES