Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices 43595 

70 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). 

5The term ‘‘User’’ is defined as ‘‘any Member or 

Sponsored Participant who is authorized to obtain 

access to the System pursuant to Rule 11.3.’’ See 

Exchange Rule 1.5(cc). 

6See Exchange Rule 11.13(b)(3)(N). 

initiative, which is focused on only one 

MSRB rule. The MSRB notes that it is 

currently monitoring or involved in 

various industry initiatives to 

modernize identifiers. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period of 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the self-regulatory organization 

consents, the Commission will: 

(A) By order approve or disapprove 

such proposed rule change, or 

(B) institute proceedings to determine 

whether the proposed rule change 

should be 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– 

MSRB–2017–06 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–MSRB–2017–06. 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 MSRB. 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–MSRB– 

2017–06 and should be submitted on or 

before October 10, 2017. 

For the Commission, pursuant to delegated 

authority.70

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–19804 Filed 9–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81594; File No. SR– 

BatsBZX–2017–57] 

Self-Regulatory Organizations; Bats 

BZX Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend Rule 

11.13, Order Execution and Routing, 

To Account for IEX as a Primary 

Listing Market and To Amend Certain 

Rules To Reflect the Name Change of 

NYSE MKT to NYSE American 

September 13, 2017. 

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 

September 6, 2017, Bats BZX Exchange, 

Inc. (the ‘‘Exchange’’ or ‘‘BZX’’) 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 

Exchange has designated this proposal 

as a ‘‘non-controversial’’ 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 paragraphs (b)(3)(M) and (N) of 

Rule 11.13, Order Execution and 

Routing, to expand the ability of Users 5

to designate their orders for 

participation in the opening, re-opening 

(following a halt, suspension, or pause), 

or closing process of a primary listing 

market other than the Exchange (NYSE, 

Nasdaq, NYSE MKT, or NYSE Arca) to 

include the Investors Exchange LLC 

(‘‘IEX’’). The Exchange also proposes to 

amend paragraphs (b)(3)(M) and (N) of 

Rule 11.13 as well as Rules 11.24(c)(1) 

and 11.26(a) to reflect the name change 

of NYSE MKT to NYSE American. 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at www.bats.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 

Exchange Rule 11.13(b)(3)(N) 

describes the ROOC routing option, 

under which Users may designate their 

orders for participation in the opening 

or closing process, in addition to the reopening (following a halt, suspension, 

or pause), of a primary listing market 

other than the Exchange, if received 

before the opening/re-opening/closing 

time of such market.6 Under Exchange 

Rule 11.13(b)(3)(M), Users may also 

elect that their orders be routed to 

participate in the primary market’s reopening process, and not its opening or 

closing processes. Any remaining shares 


sradovich on DSKBBY8HB2PROD with NOTICES
43596 Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices 

7The term ‘‘BZX Book’’ is defined as ‘‘the 

System’s electronic file of orders.’’ See Exchange 

Rule 1.5(e). 

8The term ‘‘System routing table’’ refers to the 

proprietary process for determining the specific 

options exchanges to which the System routes 

orders and the order in which it routes them. See 

Exchange Rule 11.13(b)(3). 

9See IEX Trading Alert #2017–05, Listing 

Specifications, Testing Opportunities, and 

Timelines, available at https://iextrading.com/ 

trading/alerts/2017/015/. See also Securities 

Exchange Act Release No. 81316 (August 4, 2017), 

82 FR 37474 (August 10, 2017) (SR–IEX–2017–10) 

(Order approving proposed rule change related in 

auctions in IEX-listed securities, dissemination of 

auction-related data, and provisions governing 

trading halts and pauses). 

10The Exchange also proposes to amend 

paragraph (b)(3)(M) of Rule 11.13 to replace the 

term ‘‘Bats’’ with ‘‘BZX’’ to reflect the correct 

defined term of ‘‘BZX Book’’. See Exchange Rule 

1.5(e). 

11See Securities Exchange Act Release No. 

Securities Exchange Act Release No. 80283 (March 

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

NYSEMKT–2017–14). 

12 15 U.S.C. 78f(b). 

13 15 U.S.C. 78f(b)(5). 

14See supra note 9. 

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

16 17 CFR 240.19b–4. 

are either posted to the BZX Book,7

executed, or routed to destinations on 

the System routing table.8

IEX announced that it intends to 

become a primary listing exchange and 

support IEX-listed companies beginning 

in October 2017.9 At that time, the 

Exchange will enable Users to elect that 

their orders in IEX-listed securities be 

routed to IEX to participate in IEX’s 

opening, re-opening (following a halt, 

suspension, or pause), or closing 

process. Therefore, the Exchange 

proposes to amend paragraphs (b)(3)(M) 

and (N) of Rule 11.13 to include IEX as 

a primary listing market to which Users 

may designate their orders be routed.10

Lastly, the Exchange also proposes 

non-substantive amendments to 

paragraphs (b)(3)(M) and (N) of Rule 

11.13 as well as Rules 11.24(c)(1) and 

11.26(a) to reflect the name change of 

NYSE MKT to NYSE American.11

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 12 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 13

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. As discussed above, IEX 

announced that it intends to become a 

primary listing exchange and support 

IEX-listed companies beginning in 

October 2017.14 Certain Users whose 

orders in IEX-listed securities are resting 

on the BZX Book may wish that their 

order only be routed to participate in 

IEX’s opening, closing, or re-opening 

process. The proposed rule change 

promotes just and equitable principles 

of trade because it would provide such 

Users with additional flexibility with 

regard to their orders in IEX-listed 

securities. 

Lastly, the non-substantive 

amendments to paragraphs (b)(3)(M) 

and (N) of Rule 11.13 as well as Rules 

11.24(c)(1) and 11.26(a) to reflect the 

name change of NYSE MKT to NYSE 

American also removes impediments to 

and perfects the mechanism of a free 

and open market and a national market 

system because it updates the rules to 

reflect the name change and does not 

alter the way in which orders in NYSE 

American listed securities are handled 

and routed. 

(A) Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposal will impose any burden on 

competition not necessary or 

appropriate in furtherance of the 

purposes of the Act. The Exchange 

believes that its proposal would 

increase competition because it offers 

Users an alternative means to route 

orders to participate in IEX’s opening, 

closing, and re-opening following a halt, 

suspension, or pause as if they entered 

orders on that market directly. 

B. 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: (A) Significantly affect 

the protection of investors or the public 

interest; (B) impose any significant 

burden on competition; and (C) by its 

terms, 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) of the 

Act 15 and paragraph (f)(6) of Rule 19b– 

4 thereunder,16 the Exchange has 

designated this rule filing as noncontroversial. The Exchange has given 

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. 

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: (1) Necessary or appropriate in 

the public interest; (2) for the protection 

of investors; or (3) 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– 

BatsBZX–2017–57 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–BatsBZX–2017–57. 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 


sradovich on DSKBBY8HB2PROD with NOTICES
Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 / Notices 43597 

17 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. 80965 

(June 19, 2017), 82 FR 28716 (June 23, 2017) (SR– 

MRX–2017–07). 

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

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

6 15 U.S.C. 78f(b)(8). 

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– 

BatsBZX–2017–57 and should be 

submitted on or before October 10, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–19803 Filed 9–15–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81597; File No. SR–MRX– 

2017–17] 

Self-Regulatory Organizations; Nasdaq 

MRX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Remove Language 

From Chapter 19 of the Rulebook 

September 13, 2017. 

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 August 

31, 2017, Nasdaq MRX, LLC (‘‘MRX’’ 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 remove 

language from Chapter 19 related to a 

systems issue that has been resolved 

with the completed migration of the 

Exchange to Nasdaq INET. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to remove language from 

Chapter 19 related to a systems issue 

that has been resolved with the 

completed migration of the Exchange to 

Nasdaq INET. On June 6, 2017, the 

Exchange filed a proposed rule change 

to amend Chapter 19 to notify members 

of a systems issue related to allocations 

made pursuant to Supplementary 

Material .02(a)–(b) to Rule 1901 (‘‘Flash 

auction’’).3 As explained in that 

proposed rule change, due to a systems 

issue, Flash auction allocations 

pursuant to Supplementary Material 

.02(a)–(b) to Rule 1901 were not being 

provided as described in that rule, and 

instead Primary Market Maker quotes 

were being given a Flash auction 

allocation pursuant to Supplementary 

Material .01(b)–(c) to Rule 713 after 

Priority Customer Orders on the book, 

and ahead of Responses, Professional 

Orders, and other market maker quotes. 

This systems issue has been resolved 

with the Exchange’s migration to 

Nasdaq INET, which was completed on 

Monday, August 21, 2017. As all 

symbols are now trading on INET, 

contracts executed in a Flash auction 

will be allocated correctly pursuant to 

Supplementary Material .02 to Rule 

1901. The Exchange therefore proposes 

to remove the language described above 

from its rulebook. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the requirements of the Act and the 

rules and regulations thereunder that 

are applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6(b) of the Act.4

In particular, the proposal is consistent 

with Section 6(b)(5) of the Act,5 because 

is designed to promote just and 

equitable principles of trade, remove 

impediments to and perfect the 

mechanisms 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 is 

consistent with the protection of 

investors and the public interest 

because the systems issue described in 

Chapter 19 has been resolved. Due to a 

systems issue, allocations in the Flash 

auction were not being done in the 

manner described in Supplementary 

Material .02(a)–(b) to Rule 1901. As a 

temporary measure, the Exchange 

therefore added language to that effect 

to Chapter 19. With the migration of the 

Exchange’s trading system to Nasdaq 

INET, this systems issue has been 

eliminated, and the Exchange therefore 

believes that it is appropriate to remove 

this language from Chapter 19. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,6 the Exchange does not believe 

that the proposed rule change will 

impose any burden on intermarket or 

intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change eliminates 

outdated text reflecting a systems issue 

related to Flash auction allocations, and 

is not designed to have any competitive 

impact. 

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 

Because the 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 


sradovich on DSKBBY8HB2PROD with NOTICES