[Federal Register Volume 82, Number 211 (Thursday, November 2, 2017)]
[Notices]
[Pages 50926-50927]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-23829]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-81972; File No. SR-NASDAQ-2017-115]
Self-Regulatory Organizations; The Nasdaq Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Remove References to Nasdaq Options Services
October 27, 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 26, 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.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to remove references to Nasdaq Options
Services.
The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaq.cchwallstreet.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 this filing is to remove references to ``Nasdaq
Options Services'' or ``NOS'' and in certain cases replace those
references with a reference to ``Nasdaq Execution Services'' or
``NES.'' The Exchange previously filed a proposed rule change which
replaced Nasdaq Options Services with Nasdaq Execution Services.\3\
Some references to Nasdaq Options Services were not removed from the
Exchange's Rulebook. At this time, the Exchange proposes to remove
those references to ``Nasdaq Options Services'' and ``NOS'' and were
applicable change those references to ``Nasdaq Execution Services'' or
``NES'' if the entity is not already mentioned. Also, the Exchange
proposes to make grammatical changes to the current sentence to
accommodate the removal of the entity.
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\3\ See Securities Exchange Act Release No. 71419 (January 28,
2014), 79 FR 6247 (February 3, 2014)(SR-NASDAQ-2014-007).
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No other changes are being proposed in this filing. The Exchange
represents that these changes are concerned solely with the
administration of the Exchange and do not affect the meaning,
administration, or enforcement of any rules of the Exchange or the
rights, obligations, or privileges of Exchange members or their
associated persons in any way. Accordingly, this filing is being
submitted under Rule 19b-4(f)(3).
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
avoiding confusion with the routing entity. The Exchange proposes to
remove references to ``Nasdaq Options Services'' or ``NOS'' and in
certain cases replace those references with a reference to ``Nasdaq
Execution Services'' or ``NES,'' where applicable. The Exchange
previously filed a proposed rule change which replaced Nasdaq Options
Services with Nasdaq Execution Services.\6\ This proposed change is
non-substantive.
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\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
\6\ See Securities Exchange Act Release No. 71419 (January 28,
2014), 79 FR 6247 (February 3, 2014)(SR-NASDAQ-2014-007).
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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 removal of references to
``Nasdaq Options Services'' or ``NOS'' and, where applicable,
replacement with ``Nasdaq Execution Services'' or ``NES'' will avoid
confusion.
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
Pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-4(f)(3)
thereunder,\8\ the Exchange has designated this proposal as one that is
concerned solely with the administration of the self-regulatory
organization, and therefore has become effective.
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\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(3).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if
[[Page 50927]]
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 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 [email protected]. Please include
File Number SR-NASDAQ-2017-115 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-2017-115. 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. 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-NASDAQ-2017-115 and should
be submitted on or before November 24, 2017.
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\9\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-23829 Filed 11-1-17; 8:45 am]
BILLING CODE 8011-01-P