Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3203 

39 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6)(iii). 

5See Securities Exchange Act Release No. 79585 

(December 16, 2016), 82 FR 6961 (December 22, 

2016) (SR–BatsEDGX–2016–60; SR–BatsEDGA– 

2016–24; SR–BatsBYX–2017–29; and SR–BatsBYX– 

2016–68). 

6See the Cboe fee schedule available at https:// 

www.cboe.org/general-info/pdfframed?content=/ 

publish/mdxfees/cboe-cds-fees-schedule-for-cboedatafeeds.pdf§ion=SEC_MDX_CSM&title=

Cboe%20CDS%20Fees%20Schedule and the C2 fee 

schedule available at https://www.cboe.org/generalinfo/pdfframed?content=/publish/mdxfees/c2-cdsfees-schedule.pdf§ion=SEC_MDX_CSM&title=

C2%20CDS%20Fees%20Schedule. 

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–ISE–2018–04 and should be 

submitted on or before February 13, 

2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.39

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–01092 Filed 1–22–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82518; File No. SR– 

CboeEDGA–2018–001] 

Self-Regulatory Organizations; Cboe 

EDGA Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Harmonize 

the Definition of Non-Professional User 

in Its Fee Schedule With That of Its 

Affiliates 

January 17, 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 January 8, 

2018, Cboe EDGA Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘EDGA’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Exchange has 

designated this proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A) of the 

Act 3 and Rule 19b–4(f)(6)(iii) 

thereunder,4 which renders it effective 

upon filing with the Commission. 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 filed a proposal to 

amend the Market Data section of its fee 

schedule to harmonize the definition of 

‘‘Non-Professional User’’ with that of its 

affiliates, Cboe Exchange, Inc. (‘‘Cboe’’) 

and Cboe C2 Exchange, Inc. (‘‘C2’’). 

The text of the proposed rule change 

is available at the Exchange’s website at 

www.markets.cboe.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 parts 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 the 

Market Data section of its fee schedule 

to harmonize the definition of ‘‘NonProfessional User’’ with that of its 

affiliates, Cboe and C2. In late 2016, the 

Exchange and its affiliates Cboe EDGX 

Exchange, Inc. (‘‘EDGX’’), Cboe BYX 

Exchange, Inc. (‘‘BYX’’), and Cboe BZX 

Exchange, Inc. (‘‘BZX’’) received 

approval to effect a merger (the 

‘‘Merger’’) of the Exchange’s parent 

company, Bats Global Markets, Inc., the 

parent of EDGA, EDGX, BYX, and BZX 

with CBOE Holding, Inc. (now known as 

Cboe Global Markets, Inc.) the parent 

company of Cboe and C2.5 In order to 

provide consistent rules and 

terminology amongst the Exchange, 

Cboe, and C2, the Exchange proposes to 

amend the definition of ‘‘NonProfessional User’’ to harmonize it with 

that of its affiliates, Cboe and C2. 

The EDGX Option’s fee schedule 

currently defines ‘‘Non-Professional 

User’’ as: 

a natural person who is not: (i) Registered or 

qualified in any capacity with the 

Commission, the Commodity Futures 

Trading Commission, any state securities 

agency, any securities exchange or 

association, or any commodities or futures 

contract market or association; (ii) engaged as 

an ‘‘investment adviser’’ as that term is 

defined in Section 202(a)(11) of the 

Investment Advisers Act of 1940 (whether or 

not registered or qualified under that Act); or 

(iii) employed by a bank or other 

organization exempt from registration under 

federal or state securities laws to perform 

functions that would require registration or 

qualification if such functions were 

performed for an organization not so exempt. 

As amended, ‘‘Non-Professional User’’ 

would be defined as: 

a natural person or qualifying trust that uses 

Data only for personal purposes and not for 

any commercial purpose and, for a natural 

person who works in the United States, is 

not: (i) Registered or qualified in any capacity 

with the Securities and Exchange 

Commission, the Commodities Futures 

Trading Commission, any state securities 

agency, any securities exchange or 

association, or any commodities or futures 

contract market or association; (ii) engaged as 

an ‘‘investment adviser’’ as that term is 

defined in Section 202(a)(11) of the 

Investment Advisors Act of 1940 (whether or 

not registered or qualified under that Act); or 

(iii) employed by a bank or other 

organization exempt from registration under 

federal or state securities laws to perform 

functions that would require registration or 

qualification if such functions were 

performed for an organization not so exempt; 

or, for a natural person who works outside 

of the United States, does not perform the 

same functions as would disqualify such 

person as a Non-Professional User if he or 

she worked in the United States. 

The revised definition is substantially 

identical to the definition of ‘‘NonProfessional User’ included within the 

Cboe and C2 fee schedules.6 The 

Exchange’s current definition of ‘‘NonProfessional User’’ does differ from that 

contained in the Cboe and C2 fee 

schedules in following minor, nonsubstantive ways. First, the harmonized 

definition will make clear that a NonProfessional User may be a natural 

person or qualifying trust that uses Data 

only for personal purposes and not for 

any commercial purpose. To date, the 

Exchange is not aware of any entity that 


sradovich on DSK3GMQ082PROD with NOTICES
3204 Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 

7 15 U.S.C. 78f. 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(3)(A)(iii). 

10 17 CFR 240.19b–4(f)(6). 11See 15 U.S.C. 78c(f). 

receives an Exchange market data 

product would be deemed a qualifying 

trust and, therefore, has not had to 

determine whether such entity is a 

Professional or Non-Professional User 

under the prior definition. Second, the 

harmonized definition would specify 

that a natural person who works outside 

of the United States would not be 

deemed a Non-Professional User where 

that person does not perform the same 

functions as would disqualify such 

person as a Non-Professional User if he 

or she worked in the United States. The 

definition with regard to natural persons 

who work in the United States are 

substantively identical amongst the old 

and harmonized definition. 

None of these differences impact the 

manner in which the Exchange would 

characterize a User and a Professional or 

Non-Professional. The harmonized 

definition would provide additional 

specificity while harmonizing the 

definition with that of its affiliates. 

Doing so would ensure consistent terms 

amongst the Exchange and its affiliates, 

thereby reducing the potential for 

confusion amongst market data 

subscribers regarding the type of User 

they may be considered by the 

Exchange. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the objectives of Section 6 of the Act,7

in general, and furthers the objectives of 

Section 6(b)(5) of the Act 8 in particular, 

in that it is designed to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, 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 harmonized 

definition of Non-Professional User is 

equitable, reasonable, and removes 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system it would 

provide additional specificity while 

harmonizing the definition with that of 

its affiliates. Doing so would ensure 

consistent terms amongst the Exchange 

and its affiliates, thereby reducing the 

potential for confusion amongst market 

data subscribers regarding the type of 

User they may be considered by the 

Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

The harmonized definition of NonProfessional User would have no impact 

on competition because it does not 

materially alter the definition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 9 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.10 In addition, Rule 19b– 

4(f)(6) requires a self-regulatory 

organization to give the Commission 

written notice of its intent to file the 

proposed rule change, along with a brief 

description and text of the proposed 

rule change, at least five business days 

prior to the date of filing of the 

proposed rule change, or such shorter 

time as designated by the Commission. 

The Exchange has satisfied this 

requirement. 

In its filing, the Exchange requested 

that the Commission waive the 30-day 

operative delay in order to enable the 

Exchange to immediately ensure 

consistent use of terms amongst the 

Exchange and its affiliates, thereby 

reducing the potential for confusion 

amongst market data subscribers 

regarding the type of User they may be 

considered by the Exchange. The 

Commission believes that such waiver is 

consistent with the protection of 

investors and the public interest. 

Therefore, the Commission designates 

the proposed rule change to be operative 

upon filing. For purposes only of 

waiving the 30-day operative delay, the 

Commission has also considered the 

proposed rule’s impact on efficiency, 

competition, and capital formation.11

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– 

CboeEDGA–2018–001 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 CboeEDGA–2018–001. 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 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 83, No. 15 / Tuesday, January 23, 2018 / Notices 3205 

12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 80683 

(May 16, 2017), 82 FR 23320 (‘‘Notice’’). 

4See Securities Exchange Act Release No. 81072, 

82 FR 31792 (July 10, 2017). 

5See Letters to Brent J. Fields, Secretary, 

Commission, from: (1) Donald K. Ross, Jr., 

Executive Chairman, PDQ Enterprise, LLC, dated 

June 6, 2017 (‘‘PDQ Letter’’); (2) Edward S. Knight, 

Executive Vice President and General Counsel, 

Nasdaq, Inc., dated June 12, 2017 (‘‘Nasdaq Letter 

1’’); (3) Ray Ross, Chief Technology Officer, 

Clearpool Group, dated June 12, 2017 (‘‘Clearpool 

Letter’’); (4) Venu Palaparthi, SVP, Compliance, 

Regulatory and Government Affairs, Virtu 

Financial, dated June 12, 2017 (‘‘Virtu Letter’’); (5) 

Theodore R. Lazo, Managing Director and Associate 

General Counsel, SIFMA, dated June 13, 2017 

(‘‘SIFMA Letter 1’’); (6) Elizabeth K. King, General 

Counsel and Corporate Secretary, New York Stock 

Exchange (‘‘NYSE’’), dated June 13, 2017 (‘‘NYSE 

Letter 1’’); (7) John M. Bowers, Bowers Securities, 

dated June 14, 2017 (‘‘Bowers Letter’’); (8) Jonathan 

D. Corpina, Senior Managing Partner, Meridian 

Equity Partners, dated June 16, 2017 (‘‘Meridian 

Letter’’); (9) Fady Tanios, Chief Executive Officer, 

and Brian Fraioli, Chief Compliance Officer, 

Americas Executions, LLC, dated June 16, 2017 

(‘‘Americas Executions Letter’’); (10) Ari M. 

Rubenstein, Co-Founder and Chief Executive 

Officer, GTS Securities LLC, dated June 22, 2017 

(‘‘GTS Securities Letter 1’’); (11) John Ramsay, Chief 

Market Policy Officer, Investors Exchange LLC, 

dated June 23, 2017 (‘‘IEX Letter’’); (12) Jay S. 

Sidhu, Chairman, Chief Executive Officer, 

Customers Bancorp, Inc., dated June 27, 2017 

(‘‘Customers Bancorp Letter’’); (13) Joanne 

Freiberger, Vice President, Treasurer, Masonite 

International Corporation, dated June 27, 2017 

(‘‘Masonite International Letter’’); (14) David B. 

Griffith, Investor Relations Manager, Orion Group 

Holdings, Inc., dated June 27, 2017 (‘‘Orion Group 

Letter’’); (15) Kieran O’Sullivan, Chairman, 

President and CEO, CTS Corporation, dated June 

28, 2017 (‘‘CTS Corporation Letter’’); (16) Sherri 

Brillon, Executive Vice-President and Chief 

Financial Officer, Encana Corporation, dated June 

29, 2017 (‘‘Encana Letter’’); (17) Steven C. Lilly, 

Chief Financial Officer, Triangle Capital 

Corporation, dated June 29, 2017 (‘‘Triangle Capital 

Letter’’); (18) Robert F. McCadden, Executive Vice 

President and Chief Financial Officer, Pennsylvania 

Real Estate Investment Trust, dated June 29, 2017 

(‘‘Pennsylvania REIT Letter’’); (19) Andrew Stevens, 

General Counsel, IMC Financial Markets, dated 

June 30, 2017 (‘‘IMC Letter’’); (20) Daniel S. Tucker, 

Senior Vice President and Treasurer, Southern 

Company, dated July 5, 2017 (‘‘Southern Company 

Letter’’); (21) Cole Stevens, Investor Relations 

Associate, Nobilis Health, dated July 6, 2017 

(‘‘Nobilis Health Letter’’); (22) Mehmet Kinak, Head 

of Global Equity Market Structure & Electronic 

Trading, et al., T. Rowe Price Associates, Inc., dated 

July 7, 2017 (‘‘T. Rowe Price Letter’’); (23) David L. 

Dragics, Senior Vice President, Investor Relations, 

CACI International Inc., dated July 7, 2017 (‘‘CACI 

Letter’’); (24) Mark A. Stegeman, Senior Vice 

President & CFO, Turning Point Brands, Inc., dated 

July 12, 2017 (‘‘Turning Point Letter’’); (25) Jon R. 

Moeller, Vice Chair and Chief Financial Officer, and 

Deborah J. Majoras, Chief Legal Officer and 

Secretary, The Proctor & Gamble Company, dated 

July 12, 2017 (‘‘P&G Letter’’); (26) Christopher A. 

Iacovella, Chief Executive Officer, Equity Dealers of 

America, dated July 12, 2017 (‘‘EDA Letter’’); (27) 

Rob Bernshteyn, Chief Executive Officer, Chairman 

Board of Directors, Coupa Software, Inc., dated July 

12, 2017 (‘‘Coupa Software Letter’’); (28) Sally J. 

Curley, Senior Vice President, Investor Relations, 

Cardinal Health, Inc., dated July 14, 2017 

(‘‘Cardinal Health Letter’’); (29) Mickey Foster, Vice 

President, Investor Relations, FedEx Corporation, 

dated July 14, 2017 (‘‘FedEx Letter’’); (30) 

Alexander J. Matturri, CEO, S&P Dow Jones Indices, 

dated July 18, 2017 (‘‘SPDJI Letter’’); (31) John L. 

Killea, Chief Legal Officer, Stewart Information 

Services, dated July 19, 2017 (‘‘Stewart Letter’’); 

(32) M. Farooq Kathwari, Chairman, President & 

CEO, Ethan Allen Interiors, Inc., dated July 24, 2017 

(‘‘Ethan Allen Letter’’); (33) Jeff Green, Founder, 

Chief Executive Officer and Chairman of the Board 

of Directors, The Trade Desk Inc., dated July 26, 

2017 (‘‘Trade Desk Letter’’); (34) James J. Angel, 

Associate Professor, McDonough School of 

Business, Georgetown University, dated July 30, 

2017 (‘‘Angel Letter’’); (35) Jon Stonehouse, CEO, 

and Tom Staab, CFO, BioCryst Pharmaceuticals, 

Inc., dated July 31, 2017 (‘‘BioCryst Letter’’); (36) 

Peter Campbell, Chief Financial Officer, Mimecast, 

dated July 31, 2017 (‘‘Mimecast Letter’’); (37) Joanne 

Moffic-Silver, Executive Vice President, General 

Counsel, and Corporate Secretary, Bats Global 

Markets, Inc., dated August 2, 2017 (‘‘BZX Letter 

1’’); (38) David M. Weisberger, Head of Equities, 

ViableMkts, dated August 3, 2017 (‘‘ViableMkts 

Letter’’); (39) Charles Beck, Chief Financial Officer, 

Digimarc Corporation, dated August 3, 2017 

(‘‘Digimarc Letter’’); (40) Elizabeth K. King, General 

Counsel and Corporate Secretary, NYSE, dated 

August 9, 2017 (‘‘NYSE Letter 2’’); (41) 

Representative Sean P. Duffy and Representative 

Gregory W. Meeks, dated August 9, 2017 (‘‘Duffy/ 

Meeks Letter’’); (42) Michael J. Chewens, Senior 

Executive Vice President & Chief Financial Officer, 

NBT Bancorp Inc., dated August 11, 2017 (‘‘NBT 

Bancorp Letter’’); (43) Barry Zwarenstein, Chief 

Financial Officer, Five9, Inc., dated August 11, 2017 

(‘‘Five9 Letter’’); (44) William A. Backus, Chief 

Financial Officer & Treasurer, Balchem Corporation, 

dated August 15, 2017 (‘‘Balchem Letter’’); (45) 

Raiford Garrabrant, Director, Investor Relations, 

Cree, Inc., dated August 15, 2017 (‘‘Cree Letter’’); 

(46) Steven Paladino, Executive Vice President & 

Chief Financial Officer, Henry Schein, Inc., dated 

August 16, 2017 (‘‘Henry Schein Letter’’); (47) 

Theodore Jenkins, Senior Director, Investor 

Relations and Communications, Corbus 

Pharmaceuticals, Inc., dated August 17, 2017 

(‘‘Corbus Letter’’); (48) Ari M. Rubenstein, CoFounder and Chief Executive Officer, GTS 

Securities LLC, dated August 17, 2017 (‘‘GTS 

Securities Letter 2’’); (49) Cameron Bready, Senior 

Executive VP, Chief Financial Officer, Global 

Payments Inc., dated August 17, 2017 (‘‘Global 

Payments Letter’’); (50) Mike Gregoire, CEO, CA 

Technologies, dated August 17, 2017 (‘‘CA 

Technologies Letter’’); (51) Patrick L. Donnelly, 

Executive Vice President & General Counsel, Sirius 

XMHoldings Inc., dated August 17, 2017 (‘‘Sirius 

Letter’’); (52) Theodore R. Lazo, Managing Director 

and Associate General Counsel, SIFMA, dated 

August 18, 2017 (‘‘SIFMA Letter 2’’); (53) Donald 

Bollerman, dated August 18, 2017 (‘‘Bollerman 

Letter’’); and (54) Sarah A. O’Dowd, Senior Vice 

President, Chief Legal Officer and Secretary, Lam 

Research Corporation, dated August 18, 2017 (‘‘Lam 

Letter’’). 

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

7See Securities Exchange Act Release No. 81437, 

82 FR 40202 (August 24, 2017) (‘‘OIP’’). In the OIP, 

the Commission specifically requested comment on 

eight series of questions. See id. at 40210–11. 

8See Letters to Brent J. Fields, Secretary, 

Commission, from: (1) Gabrielle Rabinovitch, VP, 

Investor Relations, PayPal Holdings, Inc., dated 

September 12, 2017 (‘‘PayPal Letter’’); (2) Edward 

S. Knight, Executive Vice President and General 

Counsel, Nasdaq, Inc., dated September 18, 2017 

(‘‘Nasdaq Letter 2’’); (3) Joanne Moffic-Silver, 

Executive Vice President, General Counsel, and 

Continued 

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 CboeEDGA–2018–001 and 

should be submitted on or before 

February 13, 2018. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2018–01089 Filed 1–22–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–82522; File No. SR– 

BatsBZX–2017–34] 

Self-Regulatory Organizations; Bats 

BZX Exchange, Inc.; Notice of Filing of 

Amendment No. 1 and Order Granting 

Approval of a Proposed Rule Change, 

as Modified by Amendment No. 1, To 

Introduce Cboe Market Close, a 

Closing Match Process for Non-BZX 

Listed Securities Under New Exchange 

Rule 11.28 

January 17, 2018. 

I. Introduction 

On May 5, 2017, Bats BZX Exchange, 

Inc. (now known as Cboe BZX 

Exchange, Inc.) (‘‘BZX’’ or ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to adopt Bats Market Close, a 

closing match process for non-BZX 

Listed Securities. The proposed rule 

change was published for comment in 

the Federal Register on May 22, 2017.3

On July 3, 2017, the Commission 

designated a longer period within which 

to approve the proposed rule change, 

disapprove the proposed rule change, or 

institute proceedings to determine 

whether the proposed rule change 

should be disapproved.4 The 

Commission received 54 comment 

letters on the proposed rule change, 

including a response from the 

Exchange.5 On August 18, 2017, the 

Commission instituted proceedings 

under Section 19(b)(2)(B) of the Act 6 to 

determine whether to approve or 

disapprove the proposed rule change.7

Thereafter, the Commission received 

nine more comment letters, including 

three responses from the Exchange.8 On 


sradovich on DSK3GMQ082PROD with NOTICES