1388 Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Notices 

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

2 17 CFR 240.19b–4. 

produce revenue from electricity 

generation sales to cover such a liability. 

Therefore, such liability, if incurred, 

could significantly affect the financial 

resources available to the facility to 

conduct and complete radiological 

decontamination and decommissioning 

activities. Furthermore, the shared 

financial risk exposure to SCE is greatly 

disproportionate to the radiological risk 

posed by SONGS when compared to 

operating reactors. 

The reduced overall risk to the public 

at decommissioning power plants does 

not warrant SCE to carry full operating 

reactor insurance coverage, after the 

requisite spent fuel cooling period has 

elapsed, following final reactor 

shutdown. The licensee’s proposed 

financial protection limits will maintain 

a level of liability insurance coverage 

commensurate with the risk to the 

public. These changes are consistent 

with previous NRC policy and 

exemptions approved for other 

decommissioning reactors. Thus, the 

underlying purpose of the regulations 

will not be adversely affected by 

reductions in the insurance coverage for 

SONGS. 

Accordingly, the proposed exemption 

for SONGS from the primary offsite 

liability insurance and secondary 

financial protection requirements of 10 

CFR 140.11(a)(4) is in the public 

interest. 

Environmental Considerations 

Pursuant to 10 CFR 51.22(c)(25), the 

granting of an exemption from the 

requirements of any regulation in 

Chapter I of 10 CFR is a categorical 

exclusion provided that (i) there is no 

significant hazards consideration; (ii) 

there is no significant change in the 

types or significant increase in the 

amounts of any effluents that may be 

released offsite; (iii) there is no 

significant increase in individual or 

cumulative public or occupational 

radiation exposure; (iv) there is no 

significant construction impact; (v) 

there is no significant increase in the 

potential for or consequences from 

radiological accidents; and (vi) the 

requirements from which an exemption 

is sought are among those identified in 

10 CFR 51.22(c)(25)(vi). 

The NRC staff has determined that 

approval of the exemption request 

involves no significant hazards 

consideration because reducing the 

licensee’s offsite liability requirements 

at the decommissioning San Onofre 

Nuclear Generating Station, Units 2 and 

3, does not (1) involve a significant 

increase in the probability or 

consequences of an accident previously 

evaluated; (2) create the possibility of a 

new or different kind of accident from 

any accident previously evaluated; or 

(3) involve a significant reduction in a 

margin of safety. The exempted 

financial protection regulation is 

unrelated to the operation of SONGS. 

Accordingly, there is no significant 

change in the types or significant 

increase in the amounts of any effluents 

that may be released offsite, and no 

significant increase in individual or 

cumulative public or occupational 

radiation exposure. 

The exempted regulation is not 

associated with construction, so there is 

no significant construction impact. The 

exempted regulation does not concern 

the source term (i.e., potential amount 

of radiation involved an accident) or 

accident mitigation; therefore, there is 

no significant increase in the potential 

for, or consequences from, a radiological 

accident. In addition, there would be no 

significant impacts to biota, water 

resources, historic properties, cultural 

resources, or socioeconomic conditions 

in the region. The requirement for 

offsite liability insurance may be viewed 

as involving surety, insurance, or 

indemnity matters in accordance with 

10 CFR 51.22(c)(25)(vi). 

Therefore, pursuant to 10 CFR 

51.22(b) and 10 CFR 51.22(c)(25), no 

environmental impact statement or 

environmental assessment need be 

prepared in connection with the 

approval of this exemption request. 

IV. Conclusions 

Accordingly, the Commission has 

determined that, pursuant to 10 CFR 

140.8, the exemption is authorized by 

law, and is otherwise in the public 

interest. Therefore, the Commission 

hereby grants SCE exemption from the 

requirement of 10 CFR 140.11(a)(4) to 

permit the licensee to reduce primary 

offsite liability insurance to $100 

million, accompanied by withdrawal 

from participation in the secondary 

insurance pool for offsite liability 

insurance. 

This exemption is effective upon 

issuance. 

Dated at Rockville, Maryland, this 5th day 

of January 2018. 

For the Nuclear Regulatory Commission. 

Gregory Suber, 

Deputy Division Director, Division of 

Decommissioning, Uranium Recovery and 

Waste Programs, Office of Nuclear Material 

Safety and Safeguards. 

[FR Doc. 2018–00318 Filed 1–10–18; 8:45 am] 

BILLING CODE 7590–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82449; File No. SR–GEMX– 

2017–60] 

Self-Regulatory Organizations; Nasdaq 

GEMX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Various Fees 

and Rebates Set Forth in Section I of 

the Exchanges Schedule of Fees 

January 5, 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 December 

22, 2017, 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 

various fees and rebates set forth in 

Section I of the Exchanges 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 purpose of the proposed rule 

change is to amend various fees and 


srobinson on DSK9F5VC42PROD with NOTICES
Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Notices 1389 

3The term ‘‘Market Makers’’ refers to 

‘‘Competitive Market Makers’’ and ‘‘Primary Market 

Makers’’ collectively. 

4A ‘‘Priority Customer’’ is a person or entity that 

is not a broker/dealer in securities, and does not 

place more than 390 orders in listed options per day 

on average during a calendar month for its own 

beneficial account(s). 

5The Total Affiliated Member ADV category 

includes all volume in all symbols and order types, 

including both maker and taker volume and volume 

executed in the PIM, Facilitation, Solicitation, and 

QCC mechanisms. For purposes of determining a 

member’s eligibility for the volume-based tiers in 

the Total Affiliated Member ADV category, the 

Exchange uses either numeric thresholds that 

measure a member’s absolute volume or, as an 

alternative, a percentage-based calculation that 

considers a member’s volume relative to total 

customer industry volume (i.e., the ‘‘Customer Total 

Consolidated Volume’’). For purposes of measuring 

Total Affiliated Member ADV, Customer Total 

Consolidated Volume means the total volume 

cleared at The Options Clearing Corporation in the 

Customer range in equity and ETF options in that 

month. 

6The Priority Customer Maker ADV category 

includes all Priority Customer volume that adds 

liquidity in all symbols. 

7All eligible volume from affiliated Members will 

be aggregated in determining applicable tiers, 

provided there is at least 75% common ownership 

between the Members as reflected on each 

Member’s Form BD, Schedule A. 

The highest tier threshold attained above applies 

retroactively in a given month to all eligible traded 

contracts and applies to all eligible market 

participants. 

Any day that the market is not open for the entire 

trading day or the Exchange instructs members in 

writing to route their orders to other markets may 

be excluded from the ADV calculation; provided 

that the Exchange will only remove the day for 

members that would have a lower ADV with the 

day included. 

8A ‘‘Non-Nasdaq GEMX Market Maker’’ is a 

market maker as defined in Section 3(a)(38) of the 

Securities Exchange Act of 1934, as amended, 

registered in the same options class on another 

options exchange. 

9Non-Priority Customer includes Market Maker, 

Non-Nasdaq GEMX Market Maker, Firm 

Proprietary, Broker-Dealer, and Professional 

Customer. 

10A ‘‘Firm Proprietary’’ order is an order 

submitted by a member for its own proprietary 

account. 

11A ‘‘Broker-Dealer’’ order is an order submitted 

by a member for a broker-dealer account that is not 

its own proprietary account. 

12A ‘‘Professional Customer’’ is a person or entity 

that is not a broker/dealer and is not a Priority 

Customer. 

rebates set forth in Section I of the 

Exchange’s Schedule of Fees. Each 

proposed change is described in more 

detail below. 

Changes to Maker Rebates and Taker 

Fees Based on Qualifying Tier 

Thresholds 

By way of background, GEMX 

currently provides volume-based maker 

rebates to Market Maker 3 and Priority 

Customer 4 orders in four tiers based on 

a member’s average daily volume 

(‘‘ADV’’) in the following categories: (i) 

Total Affiliated Member ADV 5 and (ii) 

Priority Customer Maker ADV,6 as 

shown in the table below.7 In addition, 

GEMX charges volume-based taker fees 

to market participants based on 

achieving these volume thresholds. 

TABLE 1—QUALIFYING TIER THRESHOLDS

Tier Total affiliated member ADV Priority customer 

maker ADV 

Tier 1 ............... 0–99,999 .................................................................................................................................................... 0–19,999 

Tier 2 ............... 100,000–224,999, or executes 1% to less than 2% of Customer Total Consolidated Volume ................ 20,000–99,999 

Tier 3 ............... 225,000–349,999, or executes 2% to less than 3% of Customer Total Consolidated Volume ................ 100,000–149,999 

Tier 4 ............... 350,000 or more, or executes 3% or greater of Customer Total Consolidated Volume .......................... 150,000 or more 

Maker Rebates in Penny Symbols and 

SPY 

Currently, the Exchange provides a 

maker rebate to Market Maker orders in 

Penny Symbols and SPY that is $0.30 

per contract in Tier 1, $0.32 per contract 

in Tier 2, $0.34 per contract in Tier 3, 

and $0.45 per contract in Tier 4. The 

Exchange proposes the following 

changes to the maker rebate provided to 

Market Maker orders in Penny Symbols 

and SPY in Tiers 1–3: (i) Decrease the 

maker rebate to $0.28 per contract in 

Tier 1, (ii) decrease the maker rebate to 

$0.30 per contract in Tier 2, and (iii) 

increase the maker rebate to $0.35 per 

contract in Tier 3. 

Currently, the Exchange provides a 

maker rebate to Priority Customer orders 

in Penny Symbols and SPY that is $0.25 

per contract in Tier 1 (or $0.32 per 

contract for members that execute a 

Priority Customer Maker ADV of 5,000 

to 19,999 contracts in a given month), 

$0.40 per contract in Tier 2, $0.48 per 

contract in Tier 3, and $0.53 per 

contract in Tier 4. The Exchange 

proposes to eliminate the higher maker 

rebate provided in Tier 1 for members 

that execute a Priority Customer ADV of 

5,000 to 19,999 contracts in a given 

month. 

Maker Rebates in Non-Penny Symbols 

(Excluding Index Options) 

Currently, the Exchange provides a 

maker rebate to Market Maker orders in 

Non-Penny Symbols (excluding index 

options) that is $0.40 per contract in 

Tier 1, $0.42 per contract in Tier 2, 

$0.50 per contract in Tier 3, and $0.75 

per contract in Tier 4. The Exchange 

proposes to decrease the maker rebate 

provided to Market Maker orders in 

Non-Penny Symbols (excluding index 

options) to $0.45 in Tier 3. 

Currently, the Exchange provides a 

maker rebate to Priority Customer orders 

in Non-Penny Symbols (excluding index 

options) that is $0.75 per contract in 

Tier 1 (or $0.76 per contract for 

members that execute a Priority 

Customer Maker ADV of 5,000 to 19,999 

contracts in a given month), $0.80 per 

contract in Tier 2, $0.85 per contract in 

Tier 3, and $1.05 per contract in Tier 4. 

The Exchange proposes to eliminate the 

higher maker rebate provided in Tier 1 

for members that execute a Priority 

Customer Maker ADV of 5,000 to 19,999 

contracts in a given month. 

Taker Fees in Penny Symbols and SPY 

Currently, the Exchange charges a 

taker fee for Market Makers and NonNasdaq GEMX Market Maker 8 orders in 

Penny Symbols and SPY that is $0.49 

per contract in Tiers 1–3, and $0.48 per 

contract in Tier 4, for trades executed 

against a Non-Priority Customer.9 Firm 

Proprietary,10 Broker-Dealer,11 and 

Professional Customer 12 orders in 

Penny Symbols and SPY are charged a 

$0.49 per contract taker fee for trades 

executed against a Non-Priority 

Customer, regardless of the tier 

achieved. The taker fee is $0.50 per 

contract for all Non-Priority Customer 

orders in Penny Symbols and SPY for 

trades executed against a Priority 

Customer. The Exchange now proposes 

to increase the taker fee charged to NonPriority Customer orders in Penny 

Symbols and SPY to $0.50 per contract 

in Tiers 1–3 for trades executed against 

a Non-Priority Customer. 

Taker Fees in Non-Penny Symbols 

(Excluding Index Options) 

Currently, the Exchange charges a 

taker fee for Non-Priority Customer 

orders in Non-Penny Symbols 


srobinson on DSK9F5VC42PROD with NOTICES
1390 Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Notices 

13 ‘‘Responses to Crossing Order’’ is any contraside interest (i.e., orders & quotes) submitted after 

the commencement of an auction in the Exchange’s 

Facilitation Mechanism, Solicited Order 

Mechanism, Block Order Mechanism or Price 

Improvement Mechanism (‘‘PIM’’). 

14 15 U.S.C. 78f(b). 

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

16See MIAX PEARL Fee Schedule, Section 1)a). 

See also Nasdaq Options Market (‘‘NOM’’) Rules, 

Chapter XV Options Pricing, Sec. 2(1). NOM offers 

its market makers tiered rebates to add liquidity 

that range from $0.20 to $0.42 per contract in penny 

pilot options. In non-penny pilot options, the rebate 

to add liquidity for NOM market makers is $0.30 

per contract if participants add NOM market maker 

liquidity in non-penny pilot options of 10,000 or 

more ADV contracts per day in a month. See NOM 

Rules, Chapter XV Options Pricing, Sec. 2(1). 

17See NOM Rules, Chapter XV, Sec. 2(1). See also 

MIAX PEARL Fee Schedule, Section 1)a) (assessing 

all MIAX PEARL participants (other than priority 

customers) taker fees of up to $0.50 per contract in 

penny classes). 

18See MIAX PEARL Fee Schedule, Section 1(a). 

See also NOM Rules, Chapter XV, Sec. 2(1) 

(charging a fee for removing liquidity in non-penny 

pilot options that is $0.85 per contract for 

customers and professionals, and $1.10 per contract 

for all other NOM participants). 

(excluding index options) that is $0.89 

per contract for trades executed against 

a Non-Priority Customer, regardless of 

the tier achieved. The taker fee is $1.10 

per contract for all Non-Priority 

Customer orders in Non-Penny Symbols 

(excluding index options) for trades 

executed against a Priority Customer. 

The Exchange now proposes to increase 

the taker fee charged to Non-Priority 

Customer orders in Non-Penny Symbols 

(excluding index options) to $0.99 per 

contract in Tiers 1–3 and $0.94 per 

contract in Tier 4, in each case for trades 

executed against a Non-Priority 

Customer. 

Currently, the Exchange charges a 

taker fee for Priority Customer orders in 

Non-Penny Symbols (excluding index 

options) that is $0.82 per contract in 

Tier 1, and $0.81 per contract for Tiers 

2–4, for trades executed against a NonPriority Customer. The taker fee is $0.85 

per contract for all Priority Customer 

orders in Non-Penny Symbols 

(excluding index options) for trades 

executed against a Priority Customer. 

The Exchange now proposes to increase 

the taker fee charged to Priority 

Customer orders in Non-Penny Symbols 

(excluding index options) to $0.85 per 

contract in Tiers 1–3 and $0.82 per 

contract in Tier 4, in each case for trades 

executed against a Non-Priority 

Customer. 

Changes to the Fee for Responses to 

Crossing Orders (Excluding PIM) 

GEMX currently charges a fee for 

Responses to Crossing Orders 13

(excluding PIM orders). In Penny 

Symbols and SPY, this fee is $0.49 per 

contract for Non-Priority Customer 

orders and $0.45 per contract for 

Priority Customer orders. In Non-Penny 

Symbols (excluding index options), this 

fee is $0.89 per contract for Non-Priority 

Customer orders and $0.82 per contract 

for Priority Customer orders. 

The Exchange now proposes to 

increase this fee to $0.50 per contract for 

all market participants in Penny 

Symbols and SPY, and $1.00 per 

contract for all market participants in 

Non-Penny Symbols (excluding index 

options). 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,14 in general, and furthers the 

objectives of Sections 6(b)(4) and 6(b)(5) 

of the Act,15 in particular, in that it 

provides for the equitable allocation of 

reasonable dues, fees, and other charges 

among members and issuers and other 

persons using any facility, and is not 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. 

Changes to Maker Rebates and Taker 

Fees Based on Qualifying Tier 

Thresholds 

The Exchange believes that it is 

reasonable to make the proposed 

changes to the maker rebates provided 

to Market Maker and Priority Customer 

orders in Penny Symbols and SPY, and 

in Non-Penny Symbols (excluding index 

options), as further discussed above. 

While the Exchange is primarily 

decreasing or eliminating the maker 

rebates currently provided to certain 

Market Maker and Priority Customer 

orders (except for increasing the Tier 3 

maker rebate for Market Maker orders in 

Penny Symbols and SPY), the maker 

rebates provided to Market Makers and 

Priority Customers generally remain 

more favorable than the maker rebates 

provided to all other GEMX market 

participants. As such, the Exchange 

believes that the proposed changes to 

the Market Maker and Priority Customer 

maker rebates will continue to 

incentivize these market participants to 

send additional order flow to GEMX, 

thereby creating additional liquidity to 

the benefit of members and investors 

that trade on the Exchange. 

Furthermore, with the proposed changes 

to the Market Maker rebate amounts, the 

tiered maker rebates (i.e., ranging from 

$0.28 to $0.45 per contract for Penny 

Symbols and SPY, and from $0.40 to 

$0.75 per contract for Non-Penny 

Symbols (excluding index options)) 

remain competitive with similar rebates 

provided by other options exchanges. 

For example, MIAX PEARL offers its 

market makers tiered makers rebates 

that range from $0.25 to $0.48 per 

contract for penny classes, and from 

$0.30 to $0.70 per contract for nonpenny classes.16

The Exchange also believes that the 

proposed changes to the maker rebates 

as described above are equitable and not 

unfairly discriminatory. As has 

historically been the case, Market Maker 

and Priority Customer orders will 

continue to earn more favorable maker 

rebates in order to encourage that order 

flow. Market Makers have different 

requirements and obligations to the 

Exchange that other market participants 

do not (such as quoting requirements). 

In addition, a Priority Customer is by 

definition not a broker or dealer in 

securities, and does not place more than 

390 orders in listed options per day on 

average during a calendar month for its 

own beneficial account(s). This 

limitation does not apply to participants 

whose behavior is substantially similar 

to that of market professionals, 

including Professional Customers, who 

will generally submit a higher number 

of orders than Priority Customers. As 

such, Priority Customer orders remain 

entitled to more favorable pricing than 

other market participants. 

The Exchange believes that it is 

reasonable to increase the taker fees 

charged to all Non-Priority Customer 

orders in Penny Symbols and SPY from 

$0.49 to $0.50 per contract in Tiers 1– 

3 because the proposed change is a 

modest increase in fees. Furthermore, 

the proposed taker fees are within the 

range of similar fees currently charged 

by other options exchanges, including 

NOM, which assesses all NOM 

participants (including customers) a fee 

for removing liquidity of up to $0.50 per 

contract in penny pilot options.17

Similarly, the Exchange believes that 

the proposed increase in the taker fees 

assessed to all market participant orders 

in Non-Penny Symbols (excluding index 

options) as discussed above is 

reasonable as the increased fees (ranging 

from $0.94 to $0.99 per contract for all 

Non-Priority Customers, and from $0.82 

to $0.85 per contract for all Priority 

Customers) are still within the range of 

(or lower than) similar fees currently 

charged by other options exchanges. For 

example, MIAX PEARL charges tiered 

taker fees for non-penny classes ranging 

from $1.02 to $1.05 per contract for all 

MIAX PEARL non-priority customer 

orders, and from $0.84 to $0.87 per 

contract for priority customer orders.18

Furthermore, the Exchange believes 

that the proposed increase in the taker 

fees for Penny Symbols and SPY, and 

for Non-Penny Symbols (excluding 


srobinson on DSK9F5VC42PROD with NOTICES
Federal Register / Vol. 83, No. 8 / Thursday, January 11, 2018 / Notices 1391 

19BOX charges a fee for responses in the 

solicitation or facilitation auction mechanisms for 

all account types that is $0.25 per contract (for 

penny pilot classes) and $0.40 per contract (for nonpenny pilot classes). See BOX Fee Schedule, 

Section I.C. As set forth in the BOX Fee Schedule, 

‘‘[r]esponses to Facilitation and Solicitation Orders 

executed in these mechanisms shall be charged the 

‘‘add’’ fee.’’ Id. at Section III.B, second bullet. For 

all account types, this fee (i.e., the Fee for Adding 

Liquidity) is $0.25 (for penny pilot classes) and 

$0.75 (for non-penny pilot classes). Id. Thus, BOX 

may charge a fee for responses in its solicitation or 

facilitation auction mechanisms of up to $0.50 per 

contract (for penny pilot classes) and $1.15 per 

contract (for non-penny pilot classes). 

20 15 U.S.C. 78s(b)(3)(A)(ii). 

21 17 CFR 240.19b–4(f)(2). 

22 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

index options), is equitable and not 

unfairly discriminatory because the 

proposed changes will apply uniformly 

to all similarly-situated market 

participants. 

Changes to the Fee for Responses to 

Crossing Orders (Excluding PIM) 

The Exchange believes that the 

proposed fees for Responses to Crossing 

Orders (excluding PIM orders), which 

are being increased for all market 

participants to $0.50 per contract in 

Penny Symbols and SPY, and $1.00 per 

contract in Non-Penny Symbols 

(excluding index options), are 

reasonable because they remain 

competitive with similar fees assessed 

by other options exchanges, including, 

for example, BOX Options Exchange 

(‘‘BOX’’), which charges up to $0.50 and 

$1.15 per contract for responses in its 

solicitation or facilitation auction 

mechanisms for penny pilot and nonpenny pilot classes, respectively.19 As 

such, the Exchange believes that the 

response fees proposed herein are set at 

levels that the Exchange believes will 

remain attractive to market participants 

that trade on GEMX. 

Finally, the Exchange believes that 

the proposed fees for Responses to 

Crossing Orders (excluding PIM orders) 

are equitable and not unfairly 

discriminatory because they would 

uniformly apply to all similarly-situated 

market participants. 

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. As discussed 

above, the Exchange believes that the 

proposed fees and rebates in Section I 

of the Exchange’s Schedule of Fees 

remain competitive with similar fees 

and rebates offered on other options 

exchanges. The Exchange operates in a 

highly competitive market in which 

market participants can readily favor 

competing venues if they deem fee 

levels at a particular venue to be 

excessive, or rebate opportunities 

available at other venues to be more 

favorable. In such an environment, the 

Exchange must continually adjust its 

fees to remain competitive. Because 

competitors are free to modify their own 

fees in response, and because market 

participants may readily adjust their 

order routing practices, the Exchange 

believes that the degree to which fee 

changes in this market may impose any 

burden on competition is extremely 

limited. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act,20 and Rule 

19b–4(f)(2) 21 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: (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–2017–60 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–2017–60. 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–2017–60 and 

should be submitted on or before 

February 1, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–00308 Filed 1–10–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82450; File No. SR– 

CboeBZX–2017–019] 

Self-Regulatory Organizations; Cboe 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change Related to 

Market Data Fees 

January 5, 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 December 

28, 2017, Cboe BZX Exchange, Inc. (the 


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