Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices 37969 

17 15 U.S.C. 78s(b)(3)(A)(ii). 

18 17 CFR 240.19b–4(f)(2). 

19 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. 

4The Exchange originally filed the proposed 

changes on July 21, 2017 (SR–NYSEMKT–2017–47) 

and withdrew such filing on July 27, 2017. 

5See Securities Exchange Act Release No.80283 

(March 21, 2017), 82 FR 15244 (March 27, 2017) 

(SR–NYSEMKT–2017–14). 

6See Securities Exchange Act Release No. 80748 

(May 23, 2017), 82 FR 24764 (May 30, 2017) (SR– 

NYSEMKT 2017–20). 

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,17 and Rule 

19b–4(f)(2) 18 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– 

ISE–2017–77 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–ISE–2017–77. 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 Web site (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 Web site 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; 

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–ISE– 

2017–77 and should be submitted on or 

before September 5, 2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17065 Filed 8–11–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81337; File No. SR– 

NYSEAMER–2017–02] 

Self-Regulatory Organizations; NYSE 

American LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Change in Connection With Its Recent 

Name Change From NYSE MKT LLC to 

NYSE American LLC and the Related 

Rebranding of NYSE Amex Options to 

NYSE American Options 

DATES: August 8, 2017. 

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 27, 

2017, 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 and II 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 in connection 

with its recent name change from NYSE 

MKT LLC (‘‘NYSE MKT’’) to NYSE 

American and the related rebranding of 

NYSE Amex Options to NYSE American 

Options, to make technical and 

conforming changes to the rules of the 

Exchange (‘‘Rules’’) and the NYSE 

American Options Fee Schedule (‘‘Fee 

Schedule’’). The proposed change is 

available on the Exchange’s Web site 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 Exchange proposes, in 

connection with its name change from 

NYSE MKT to NYSE American and the 

related rebranding of NYSE Amex 

Options to NYSE American Options, to 

make technical and conforming changes 

the Rules and Fee Schedule.4

Background 

On March 16, 2017, the Exchange 

filed rule changes with the Commission 

in connection with its name change to 

NYSE American.5 In addition, on May 

19, 2017, the Exchange filed rule 

changes with the Commission 

associated with the rebranding of NYSE 

Amex Options, the Exchange’s facility 

for trading options, to NYSE American 

Options.6 In those filings, the Exchange 

committed to submitting subsequent 

rule filings as necessary to make any 

technical and conforming changes to 

proposed rule changes that were 

pending as of the time of those filings 

or that occurred after such filings but 

before the operative date of the name 


sradovich on DSK3GMQ082PROD with NOTICES
37970 Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices 

7See supra note 5 at 15246 and note 6 at 24765. 

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

9 15 U.S.C. 78f(b)(1). 

10 15 U.S.C. 78f(b)(5). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(3). 13 15 U.S.C. 78s(b)(2)(B). 

change.7 The Exchange’s name change 

became operative on July 24, 2017. 

Accordingly, the Exchange now 

proposes to make technical and 

conforming changes to its Rules and Fee 

Schedule to reflect the name change to 

NYSE American and rebrand from 

NYSE Amex Options to NYSE American 

Options, as detailed below. 

Proposed Changes 

• In Rule 36—Equities, 

Supplementary Materials .21, .23, and 

.70 (Communications Between 

Exchange and Members’ Offices), the 

Exchange proposes to change references 

to ‘‘NYSE Amex Options Trading Floor’’ 

to ‘‘NYSE American Options Trading 

Floor.’’ 

• In the Fee Schedule, under Section 

I. Options Transaction Fees and Credits, 

subpart M.BOLD Mechanism Fees & 

Credits, the Exchange proposes to 

change the reference to ‘‘NYSE Amex 

Options Market Makers’’ to ‘‘NYSE 

American Options Market Makers’’. 

None of the foregoing changes are 

substantive. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Exchange Act 8 in 

general, and with Section 6(b)(1) 9 in 

particular, in that it enables the 

Exchange to be so organized as to have 

the capacity to be able to carry out the 

purposes of the Exchange Act and to 

comply, and to enforce compliance by 

its exchange members and persons 

associated with its exchange members, 

with the provisions of the Exchange Act, 

the rules and regulations thereunder, 

and the rules of the Exchange. 

The proposed rule change is a nonsubstantive change and does not impact 

the governance or ownership of the 

Exchange. The Exchange believes that 

the proposed rule change would enable 

the Exchange to continue to be so 

organized as to have the capacity to 

carry out the purposes of the Exchange 

Act and comply and enforce compliance 

with the provisions of the Exchange Act 

by its members and persons associated 

with its members, because ensuring that 

the Rules and Fee Schedule accurately 

reflect the name of the Exchange and its 

facility for trading options would 

contribute to the orderly operation of 

the Exchange by adding clarity and 

transparency to such documents and 

rules. 

For similar reasons, the Exchange also 

believes that the proposed rule change 

is consistent with Section 6(b)(5) of the 

Act,10 in that it is designed to prevent 

fraudulent and manipulative acts and 

practices, 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 Exchange believes that the 

proposed rule change would remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system by 

ensuring that market participants can 

more easily navigate, understand and 

comply with the Rules and Fee 

Schedule. The Exchange believes that, 

by ensuring that the Rules and Fee 

Schedule accurately reflect the name of 

the Exchange and its options market the 

proposed rule change would reduce 

potential investor or market participant 

confusion. 

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 

proposed rule change is not intended to 

address competitive issues but rather is 

concerned solely with updating the 

Rules and Fee Schedule to reflect its 

name change from NYSE MKT to NYSE 

American and the related rebranding of 

NYSE Amex Options to NYSE American 

Options. 

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 proposed rule change has become 

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

of the Act 11 and Rule 19b–4(f)(3) 12

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 

under Section 19(b)(2)(B) 13 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– 

NYSEAMER–2017–02 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–NYSEAMER–2017–02. 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 Web site (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 Web site 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; 

the Commission does not edit personal 

identifying information from 

submissions. You should submit only 

information that you wish to make 


sradovich on DSK3GMQ082PROD with NOTICES
Federal Register / Vol. 82, No. 155 / Monday, August 14, 2017 / Notices 37971 

14 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 Nos. 70200 

(August 14, 2013), 74 FR 51242 (August 20, 2013) 

(SR-Topaz-2013–01) (Notice of Filing and 

Immediate Effectiveness of Proposed Rule Change 

to Establish the Schedule of Fees). 

4Members must record the appropriate account 

origin code on all orders at the time of entry in 

order. The Exchange represents that it has 

surveillances in place to verify that members mark 

orders with the correct account origin code. 

5The Exchange uses reports from OCC when 

assessing and collecting the ORF. 

6CMTA or Clearing Member Trade Assignment is 

a form of ‘‘give-up’’ whereby the position will be 

assigned to a specific clearing firm at OCC. 

available publicly. All submissions 

should refer to File Number SR– 

NYSEAMER–2017–02 and should be 

submitted on or before September 5, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–17042 Filed 8–11–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81342; File No. SR–GEMX– 

2017–31] 

Self-Regulatory Organizations; Nasdaq 

GEMX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend GEMX’s 

Schedule of Fees With Respect to the 

Options Regulatory Fee 

August 8, 2017. 

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 26, 

2017, Nasdaq GEMX, LLC (‘‘GEMX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘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 revise 

GEMX’s Schedule of Fees to: (i) More 

closely reflect the manner in which 

GEMX assesses and collects its ORF; 

and (ii) remove rule text related to the 

timing when the Exchange may increase 

or decrease the amount of the ORF. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at www.ise.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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

GEMX initially filed to establish its 

ORF in 2013.3 At this time, the 

Exchange proposes to: (i) More closely 

reflect the manner in which GEMX 

assesses and collects its ORF; and (ii) 

remove rule text related to the timing 

when the Exchange may increase or 

decrease the amount of its ORF. 

The Exchange supports a common 

approach for the assessment and 

collection of ORF among the various 

options exchanges that assess such a fee. 

Furthermore, the Exchange supports 

guidance from the Commission 

regarding regulatory cost structures to 

ensure equal knowledge and treatment 

among options markets assessing ORF. 

Proposal 1—Reflect the Manner in 

Which GEMX Assesses and Collects Its 

ORF 

Currently, GEMX assesses an ORF of 

$0.0010 per contract side. This 

proposed rule change does not seek to 

amend the amount of the ORF. 

Currently, GEMX assesses its ORF for 

each customer option transaction that is 

either: (1) Executed by a member on 

GEMX; or (2) cleared by a GEMX 

member at The Options Clearing 

Corporation (‘‘OCC’’) in the customer 

range,4 even if the transaction was 

executed by a non-member of GEMX, 

regardless of the exchange on which the 

transaction occurs.5 If the OCC clearing 

member is a GEMX member, ORF is 

assessed and collected on all cleared 

customer contracts (after adjustment for 

CMTA 6); and (2) if the OCC clearing 

member is not a GEMX member, ORF is 

collected only on the cleared customer 

contracts executed at GEMX, taking into 

account any CMTA instructions which 

may result in collecting the ORF from a 

non-member. 

By way of example, if Broker A, a 

GEMX member, routes a customer order 

to CBOE and the transaction executes on 

CBOE and clears in Broker A’s OCC 

Clearing account, ORF will be collected 

by GEMX from Broker A’s clearing 

account at OCC via direct debit. While 

this transaction was executed on a 

market other than GEMX, it was cleared 

by a GEMX member in the member’s 

OCC clearing account in the customer 

range, therefore there is a regulatory 

nexus between GEMX and the 

transaction. If Broker A was not a GEMX 

member, then no ORF should be 

assessed and collected because there is 

no nexus; the transaction did not 

execute on GEMX nor was it cleared by 

a GEMX member. 

In the case where a member both 

executes a transaction and clears the 

transaction, the ORF is assessed to and 

collected from the member only. In the 

case where a member executes a 

transaction and a different member 

clears the transaction, the ORF is 

assessed to and collected from the 

member who clears the transaction and 

not the member who executes the 

transaction. In the case where a nonmember executes a transaction at an 

away market and a member clears the 

transaction, the ORF is assessed to and 

collected from the member who clears 

the transaction. In the case where a 

member executes a transaction on 

GEMX and a non-member clears the 

transaction, the ORF is assessed to the 

member that executed the transaction 

and collected from the non-member 

who cleared the transaction. In the case 

where a member executes a transaction 

at an away market and a non-member 

clears the transaction, the ORF is not 

assessed to the member who executed 

the transaction or collected from the 

non-member who cleared the 

transaction because the Exchange does 

not have access to the data to make 

absolutely certain that ORF should 

apply. Further, the data does not allow 

the Exchange to identify the member 

executing the trade at an away market. 

ORF Revenue and Monitoring of ORF 

The Exchange monitors the amount of 

revenue collected from the ORF to 

ensure that it, in combination with other 

regulatory fees and fines, does not 

exceed regulatory costs. In determining 

whether an expense is considered a 

regulatory cost, the Exchange reviews 

all costs and makes determinations if 

there is a nexus between the expense 


sradovich on DSK3GMQ082PROD with NOTICES