Federal Register / Vol. 82, No. 213 / Monday, November 6, 2017 / Notices 51453 

53See Phase Three Extension Order at note 62 

(citing Letter from Mary Lou VonKaenel, Managing 

Director, FIF, to Stephen Luparello, Director, 

Division, Commission, dated March 27, 2015, 

available at http://www.sec.gov/comments/s7-10- 

10/s71010.shtml and Letter from Theodore R. Lazo, 

Managing Director and Associate General Counsel, 

SIFMA to Stephen Luparello, Director, Division, 

Commission, dated April 9, 2015, available at 

http://www.sec.gov/comments/s7-10-10/ 

s71010.shtml). 

54See supra note 7 (citing to the SIFMA and FIF 

letters). 

55The Commission notes that November 15, 2018 

currently is the date by which large industry SRO 

members are required to begin reporting to the CAT 

central repository. See CAT NMS Plan Order, supra 

note 8, at Ex. A, Sec. 6.7(a)(v), 81 FR at 84963. 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 81579 

(September 12, 2017), 82 FR 43584. 

4 15 U.S.C. 78s(b)(2). 

5 15 U.S.C. 78s(b)(2). 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

to the Commission’s issuance of the 

Phase Three Extension Order, FIF and 

SIFMA requested a permanent 

exemption or alternatively a five year 

deferment of the compliance date for 

Phase Three.53 In the Phase Three 

Extension Order, the Commission 

provided a two year exemption, until 

November 1, 2017. At that time, the 

Commission stated its belief that ‘‘two 

years will give the Commission enough 

time to evaluate future developments, 

including any investment in or progress 

on a CAT.’’ Further, FIF and SIFMA 

now have requested a permanent 

exemption, or alternatively a three or 

five year deferment of the compliance 

date for Phase Three.54 The Commission 

believes at this time that an extension to 

November 15, 2018 responds to requests 

from FIF and SIFMA to extend the 

Phase Three compliance date, but 

having a short exemption instead will 

allow broker-dealers to focus on 

implementing the CAT in the near term 

and will allow the Commission to 

revisit the implementation of Phase 

Three as it evaluates future 

developments during this period, 

including progress in implementing the 

CAT.55 During that time, the 

Commission will consider progress in 

implementing the CAT as it determines 

implementation of Phase Three. 

Accordingly, the Commission finds 

that it is consistent with the purposes of 

the Exchange Act to extend the 

compliance date for Phase Three by 

temporarily exempting broker-dealers 

until November 15, 2018 from 

compliance with specified provisions of 

the Rule. Thus, the Recordkeeping and 

Reporting Responsibilities under Rule 

13h–1 will continue to apply with 

respect to: (1) The clearing broker-dealer 

for a large trader, with respect to (a) 

proprietary transactions by a large trader 

broker-dealer; (b) transactions effected 

pursuant to a ‘‘sponsored access’’ 

arrangement; and (c) transactions 

effected pursuant to a ‘‘direct market 

access’’ arrangement; and (2) brokerdealers that carry an account for a large 

trader for Transaction Data other than 

execution time. 

IV. Conclusion 

It is hereby ordered, pursuant to 

Section 13(h)(6) of the Exchange Act 

and Rule 13h–1(g) thereunder, that 

broker-dealers are exempted temporarily 

until November 15, 2018 from the 

recordkeeping and reporting 

requirements of Rule 13h–1(d) and (e) 

except for: (1) Clearing broker-dealers 

for large traders with respect to (a) 

proprietary transactions by a large trader 

broker-dealer, (b) transactions effected 

pursuant to a ‘‘sponsored access’’ 

arrangement, and (c) transactions 

effected pursuant to a ‘‘direct market 

access’’ arrangement; and, for other 

types of transactions, (2) broker-dealers 

that carry an account for a large trader 

for Transaction Data other than 

execution time. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2017–24056 Filed 11–3–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81986; File No. SR– 

NASDAQ–2017–088] 

Self-Regulatory Organizations; The 

Nasdaq Stock Market LLC; Notice of 

Designation of a Longer Period for 

Commission Action on a Proposed 

Rule Change To Amend Rule 4703(a) 

To Allow Members To Designate When 

an Order With a RTFY or SCAN 

Routing Order Attribute Will Be 

Activated 

October 31, 2017. 

On August 30, 2017, The Nasdaq 

Stock Market LLC (‘‘Nasdaq’’) 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 amend Nasdaq Rule 4703(a) to 

allow members to designate when an 

Order with a RTFY or SCAN routing 

Order Attribute will be activated. The 

proposed rule change was published for 

comment in the Federal Register on 

September 18, 2017.3 The Commission 

has received no comment letters on the 

proposed rule change. 

Section 19(b)(2) of the Act 4 provides 

that, within 45 days of the publication 

of notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The 45th day after 

publication of the notice for this 

proposed rule change is November 2, 

2017. The Commission is extending this 

45-day time period. 

The Commission finds that it is 

appropriate to designate a longer period 

within which to take action on the 

proposed rule change so that it has 

sufficient time to consider the proposed 

rule change. Accordingly, the 

Commission, pursuant to Section 

19(b)(2) of the Act,5 designates 

December 17, 2017, as the date by 

which the Commission shall either 

approve or disapprove or institute 

proceedings to determine whether to 

disapprove the proposed rule change 

(File Number SR–NASDAQ–2017–088). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Eduardo A. Aleman, 

Assistant Secretary. 

[FR Doc. 2017–24046 Filed 11–3–17; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–81991; File No. SR–ISE– 

2017–96] 

Self-Regulatory Organizations; Nasdaq 

ISE, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Rule 1614 

October 31, 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 October 

27, 2017, Nasdaq ISE, LLC (‘‘ISE’’ 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 


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