Federal Register / Vol. 82, No. 194 / Tuesday, October 10, 2017 / Notices 47063 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 81344 

(August 8, 2017), 82 FR 37955 (August 14, 2017) 

(SR–NASDAQ–2017–68). 

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

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

6 15 U.S.C. 78s(b)(3)(A)(iii). 

7 17 CFR 240.19b–4(f)(6). 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 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. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81805; File No. SR– 

NASDAQ–2017–099] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Remove 

Obsolete Text From Options 

Regulatory Fee Rule 

October 3, 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 

September 25, 2017, The NASDAQ 

Stock Market LLC (‘‘Nasdaq’’ 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 remove 

obsolete rule text from Chapter XV, 

Section 5, entitled ‘‘NASDAQ Options 

Regulatory Fee.’’ 

The text of the proposed rule change 

is set forth below. Proposed deletions 

are enclosed in [brackets]. 

* * * * * 

NASDAQ Stock Market Rules 

* * * * * 

Options Rules 

* * * * * 

Chapter XV Options Pricing 

* * * * * 

Sec. 5 NASDAQ Options Regulatory Fee 

NOM Participants will be assessed an 

Options Regulatory Fee of [$0.0021 per 

contract side. 

Effective August 1, 2017, the ORF 

shall be ]$0.0027 per contract side. 

The Options Regulatory Fee (‘‘ORF’’) 

is assessed by NOM to each NOM 

Participant for options transactions 

cleared by OCC in the Customer range 

where: (1) The execution occurs on 

NOM or (2) the execution occurs on 

another exchange and is cleared by a 

NOM Participant. The ORF is collected 

by OCC on behalf of NOM from (1) 

NOM clearing members for all Customer 

transactions they clear or (2) nonmembers for all Customer transactions 

they clear that were executed on NOM. 

NOM uses reports from OCC when 

assessing and collecting ORF. The 

Exchange will notify Participants via an 

Options Trader Alert of any change in 

the amount of the fee at least 30 

calendar days prior to the effective date 

of the change. 

NOM Participants who do not transact 

an equities business on the NASDAQ 

Stock Market LLC in a calendar year 

will receive a refund of the fees 

specified in Rule 7003(b) upon written 

notification to the Exchange along with 

documentation evidencing that no 

equities business was conducted on The 

NASDAQ Stock Market for that calendar 

year. The Exchange will accept refund 

requests up until sixty (60) days after 

the end of the calendar year. 

* * * * * 

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 Exchange recently amended its 

Options Regulatory Fee or ‘‘ORF’’ at 

Chapter XV, Section 5.3 At that time the 

rule text reflected the current fee and 

the proposed amendment which took 

effect on August 1, 2017. For clarity and 

ease of reference, the Exchange proposes 

to remove the outdated reference to the 

prior ORF. 

This rule change is non-substantive 

and merely serves to update the rule 

text. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,4 in general, and furthers the 

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

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general to protect 

investors and the public interest, by 

removing obsolete rule text. 

The Exchange proposes to remove 

outdated references to ORF prior to 

August 1, 2017. The Exchange believes 

this rule change will provide clarity and 

ease of reference when Participants 

review the ORF rule. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed change is a non-substantive 

amendment to remove obsolete rule 

text. 

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 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 6 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.7

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 


sradovich on DSK3GMQ082PROD with NOTICES
47064 Federal Register / Vol. 82, No. 194 / Tuesday, October 10, 2017 / Notices 

8 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. 81341 

(August 14, 2017), 82 FR 37946 (August 8, 2017) 

(SR–BX–2017–032). 

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

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

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– 

NASDAQ–2017–099 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–NASDAQ–2017–099. 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– 

NASDAQ–2017–099 and should be 

submitted on or before October 31, 

2017. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2017–21672 Filed 10–6–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81804; File No. SR–BX– 

2017–040] 

Self-Regulatory Organizations; 

NASDAQ BX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Remove Obsolete Text 

From Options Regulatory Fee Rule 

October 3, 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 

September 25, 2017, NASDAQ BX, Inc. 

(‘‘BX’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I, 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 remove 

obsolete rule text from Chapter XV, 

Section 5, entitled ‘‘BX Options 

Regulatory Fee.’’ 

The text of the proposed rule change 

is set forth below. Proposed deletions 

are enclosed in [brackets]. 

* * * * * 

Rules of NASDAQ BX 

* * * * * 

Options Rules 

* * * * * 

Chapter XV Options Pricing 

* * * * * 

Sec. 5 BX Options Regulatory Fee 

BX Participants will be assessed an 

Options Regulatory Fee of [$0.0004 per 

contract side. 

Effective August 1, 2017, the ORF 

shall be ]$0.0005 per contract side. 

The Options Regulatory Fee (‘‘ORF’’) 

is assessed by BX to each BX Participant 

for options transactions cleared by OCC 

in the Customer range where: (1) The 

execution occurs on BX or (2) the 

execution occurs on another exchange 

and is cleared by a BX Participant. The 

ORF is collected by OCC on behalf of 

BX from (1) BX clearing members for all 

Customer transactions they clear or (2) 

non-members for all Customer 

transactions they clear that were 

executed on BX. BX uses reports from 

OCC when assessing and collecting 

ORF. The Exchange will notify 

Participants via an Options Trader Alert 

of any change in the amount of the fee 

at least 30 calendar days prior to the 

effective date of the change. 

* * * * * 

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 Exchange recently amended its 

Options Regulatory Fee or ‘‘ORF’’ at 

Chapter XV, Section 5.3 At that time the 

rule text reflected the current fee and 

the proposed amendment which took 

effect on August 1, 2017. For clarity and 

ease of reference, the Exchange proposes 

to remove the outdated reference to the 

prior ORF. 

This rule change is non-substantive 

and merely serves to update the rule 

text. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,4 in general, and furthers the 

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

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 


sradovich on DSK3GMQ082PROD with NOTICES