Federal Register / Vol. 83, No. 154 / Thursday, August 9, 2018 / Notices 39483 

11 Id. 

12 15 U.S.C 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(2). 

14 17 CFR 240.19b–4(f)(4). 15 17 CFR 200.30–3(a)(12). 

align with the cost of delivering the 

proposed subaccount data feature, and 

such fees would be allocated equitably 

among the entities that subscribe for 

access to the subaccount data. 

Specifically, the costs to NSCC for 

providing the feature would include 

building the capability to separate the 

subaccount data from the FAR files sent 

by insurance carriers, segregating such 

data by asset manager, drafting and 

negotiating agreements with asset 

managers relating to receiving the data 

and drafting and negotiating agreements 

with service providers who are 

receiving and distributing subaccount 

data on behalf of asset managers. NSCC 

believes that the costs for adding and 

operating the feature on behalf of asset 

managers would be approximately equal 

to the fees anticipated to be received by 

NSCC from the asset managers for use 

of this feature. In addition, such fees 

would be charged only to those asset 

managers that choose to subscribe to the 

feature. Therefore, by establishing fees 

that align with the cost of delivery of 

this feature and allocating those fees 

equitably among the subscribing asset 

managers, the proposed rule change 

would provide for the equitable 

allocation of reasonable dues, fees and 

other charges among its participants 

consistent with the requirements of 

Section 17A(b)(3)(D) of the Act.11

(B) Clearing Agency’s Statement on 

Burden on Competition 

NSCC does not believe that the 

proposed rule change would have any 

adverse impact, or impose any burden, 

on competition because the proposed 

rule change would add an optional 

feature to NSCC’s services that would 

provide access by asset managers to 

transaction-specific subaccount data 

that is included within the FAR files. As 

an optional feature available for 

subscription, the proposed rule change 

would not disproportionally impact any 

NSCC participants. 

Moreover, because the proposed rule 

change would allow asset managers to 

receive transaction-specific subaccount 

data and use that information to better 

service the funds and assets within 

variable products, NSCC believes the 

proposed rule change would have a 

positive effect on competition among 

asset managers. The proposed feature 

would provide these firms with a 

method of receiving transaction-specific 

subaccount data similar to the 

information that such asset managers 

currently receive with respect to retail 

mutual funds. Receiving transactionspecific subaccount information with 

respect to variable products would 

provide asset managers a better 

understanding of client requirements 

and allow asset managers to adjust their 

products so that they are better suited 

for clients of variable annuities and 

variable life insurance contracts. NSCC 

believes this would enhance 

competition among asset managers by 

enabling each to more quickly provide 

competing products meeting client 

requirements. 

(C) Clearing Agency’s Statement on 

Comments on the Proposed Rule 

Change Received From Members, 

Participants, or Others 

NSCC has not received or solicited 

any written comments relating to this 

proposal. NSCC will notify the 

Commission of any written comments 

received by NSCC. 

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) 12 of the Act and 

subparagraphs (f)(2) 13 and (f)(4) 14 of 

Rule 19b–4 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. 

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– 

NSCC–2018–005 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549. 

All submissions should refer to File 

Number SR–NSCC–2018–005. 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 NSCC and on DTCC’s website 

(http://dtcc.com/legal/sec-rulefilings.aspx). All comments received 

will be posted without change; the 

Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–NSCC– 

2018–005 and should be submitted on 

or before August 30, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–17007 Filed 8–8–18; 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: 

Form ADV–E, SEC File No. 270–318, OMB 

Control No. 3235–0361 

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 (the 


sradovich on DSK3GMQ082PROD with NOTICES
39484 Federal Register / Vol. 83, No. 154 / Thursday, August 9, 2018 / Notices 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78f(b). 

4 15 U.S.C. 78f(b)(5). 

‘‘Commission’’) has submitted to the 

Office of Management and Budget a 

request for extension of the previously 

approved collection of information 

discussed below. 

Form ADV–E (17 CFR 279.8) is the 

cover sheet for certificates of accounting 

filed pursuant to rule 206(4)–2 under 

the Investment Advisers Act of 1940 (17 

CFR 275.206(4)–2). The rule further 

requires that the public accountant file 

with the Commission a Form ADV–E 

and accompanying statement within 

four business days of the resignation, 

dismissal, removal or other termination 

of its engagement. 

The Commission has estimated that 

compliance with the requirement to 

complete Form ADV–E imposes a total 

burden of approximately 0.05 hours (3 

minutes) per respondent. Based on 

current information from advisers 

registered with the Commission, the 

Commission staff estimates that 1,749 

filings will be submitted with respect to 

surprise examinations and 38 filings 

will be submitted with respect to 

termination of accountants. Based on 

these estimates, the total estimated 

annual burden would be 89.35 hours 

((1,749 filings × .05 hours) + (38 filings 

× .05 hours)). 

The information provided on Form 

ADV–E is mandatory. Responses will 

not be kept confidential. An agency may 

not conduct or sponsor a collection of 

information unless it displays a 

currently valid OMB control number. 

No person shall be subject to any 

penalty for failing to comply with a 

collection of information subject to the 

PRA that does not display a valid OMB 

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: August 3, 2018. 

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–16999 Filed 8–8–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–83770; File No. SR–BX– 

2018–035] 

Self-Regulatory Organizations; Nasdaq 

BX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend BX Options 

Rules at Chapter I, Section 1 To Define 

Certain Terms 

August 3, 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 July 23, 

2018, Nasdaq BX, Inc. (‘‘BX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘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 BX 

Options Rules at Chapter I, Section 1 to 

define certain terms. 

The text of the proposed rule change 

is available on the Exchange’s website at 

http://nasdaqbx.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 

BX rules currently do not define an 

‘‘in-the-money’’ or ‘‘out-of-the-money’’ 

option. The Exchange proposes to 

define these terms at Chapter I, Section 

1 to bring greater transparency to BX 

rules. In addition, the Exchange notes 

that the terms, ‘‘in-the-money’’ and 

‘‘out-of-the-money’’ are generally 

accepted terms in the options industry. 

These terms are utilized throughout the 

options industry. The Exchange desires 

for its Participants to have a clear 

understanding of how BXs System 

defines these terms. 

The Exchange proposes to define an 

‘‘in-of-the-money’’ option at Chapter I, 

Section 1(a)(68). The Exchange proposes 

that the term ‘‘in-the-money’’ shall 

mean the following: For call options, all 

strike prices below the offer in the 

underlying security on the primary 

listing market; for put options, all strike 

prices above the bid in the underlying 

security on the primary listing market. 

The Exchange proposes to define an 

‘‘out-of-the-money’’ option at Chapter I, 

Section 1(a)(69). The Exchange proposes 

that the term ‘‘out-of-the-money’’ shall 

mean the following: For call options, all 

strike prices above the offer in the 

underlying security on the primary 

listing market; for put options, all strike 

prices below the bid in the underlying 

security on the primary listing market. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,3 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,4

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest. The 

Exchange’s proposal to define the terms 

‘‘in-the-money’’ and ‘‘out-of-the-money’’ 

options is consistent with the Act and 

protects investors and the public 

interest by bringing greater transparency 

to the Rulebook. In addition, the 

Exchange notes that the terms, ‘‘in-themoney’’ and ‘‘out-of-the-money’’ are 

generally accepted terms in the options 

industry. These terms are utilized 

throughout the options industry. The 

Exchange desires for its Participants to 

have a clear understanding of how BX’s 

System defines these terms. 

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 not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 


sradovich on DSK3GMQ082PROD with NOTICES