[Federal Register Volume 82, Number 22 (Friday, February 3, 2017)]
[Notices]
[Pages 9265-9267]
[FR Doc No: 2017-02261]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79900; File No. SR-BOX-2017-06]

Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Amend Rule 7150 (The Price Improvement Period (``PIP''))

January 30, 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 January 18, 2017, BOX Options Exchange LLC (the ``Exchange'') 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 self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule 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 amend Rule 7150 (The Price Improvement
Period (``PIP'')). The text of the proposed rule change is available
from the principal office of the Exchange, at the Commission's Public
Reference Room and also on the Exchange's Internet Web site at http://boxexchange.com.

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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
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 amend Rule 7150 (The
Price Improvement Period (``PIP'')) to provide that if at the start of
the auction the quoted NBBO spread is less than or equal to a $0.01,
only PIP Orders for less than 50 contracts will be rejected.
    The Exchange recently filed to amend the BOX Rules to make
permanent the pilot programs that permit the Exchange to have no
minimum size requirement for orders entered into the PIP (``PIP Pilot
Program'') and COPIP (``COPIP Pilot Program''), collectively known as
the (``Programs'').\3\ As part of this filing, BOX also modified the
requirements for the PIP to specify where the National Best Bid and
Offer (``NBBO'') spread is less than equal to $0.01, the PIP Order and
corresponding Primary Improvement Order will be rejected.
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    \3\ See Securities Exchange Act Release No. 79531 (December 12,
2016), 81 FR 91227 (December 16, 2016) (SR-BOX-2016-58).
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    The Exchange now proposes to modify the requirements of the PIP to
specify where the NBBO spread is less than or equal to $0.01; only PIP
Orders for less than 50 contracts will be rejected. This is a
competitive filing based on the price improvement auction proposed
rules of the Miami International Securities Exchange, LLC
(``MIAX'').\4\ Specifically, under MIAX Rule 515A(a)(1)(iii), with
respect to Agency Orders that have a size of less than 50 contracts, if
at the receipt of the Agency Order, the NBBO has a bid/ask differential
of $0.01, the System will reject the Agency Order. Further,

Agency Orders with a size of under 50 contracts will be accepted and
processed by the MIAX System when the NBBO bid/ask differential is
greater than $0.01.
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    \4\ See Securities Exchange Act Release No. 79500 (December 7,
2016), 81 FR 90030 (December 13, 2016). See also MIAX Rule
515A.(a)(1)(iii).
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2. Statutory Basis
    The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\5\ in general, and Section
6(b)(5) of the Act,\6\ in particular, in that it is designed to promote
just and equitable principles of trade, remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general protect investors and the public interest.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
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    The proposed rule change will allow PIP auctions of 50 or more
contracts to continue without restriction on NBBO spread. The Exchange
believes this removes impediments to and better provides for a free and
open market. As such, BOX believes the proposed rule change is in the
public interest, and therefore, consistent with the Act. The Exchange
also notes that the proposal would provide increased opportunities for
increased price improvements for these types of orders which will
benefit market participants engaging in the PIP auctions.
    Additionally, as set forth above, the Exchange believes this
proposed change is reasonable and appropriate as it is based on the
rules of another exchange.\7\
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    \7\ See supra note 4.
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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. To the contrary, the proposal
is pro-competitive because it will enable the Exchange to better
compete with another options exchange that allows PIP Orders of more
than 50 contracts to trade when the NBBO spread is $0.01 or less.\8\
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    \8\ Id.
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C. 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 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: (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 \9\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\10\
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    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 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 Commission deems this requirement to have been met.
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
Rule 19b-4(f)(6)(iii) \11\ permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. In its filing with the Commission,
the Exchange requests that the Commission waive the 30-day operative
delay so that the changes can be implemented immediately. The Exchange
states that waiver of the operative delay is consistent with the
protection of investors and the public interest because it will promote
fair competition among the exchanges by allowing the Exchange to adjust
the PIP rules to provide that if at the start of the auction the quoted
NBBO spread is less than or equal to a $0.01, only PIP Orders for less
than 50 contracts will be rejected. The Exchange also states that the
proposed rule change is substantially similar to the rules in place at
another options exchange.\12\ For these reasons, the Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest. Therefore, the
Commission designates the proposed rule change operative upon
filing.\13\
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    \11\ 17 CFR 240.19b-4(f)(6)(iii).
    \12\ See supra note 4.
    \13\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 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_ADDRESS>Please include
File Number SR-BOX-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 20549-1090.

All submissions should refer to File Number SR-BOX-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, on official
business days between the hours of 10:00 a.m. and 3:00 p.m., located at
100 F Street NE., Washington, DC 20549. Copies of such 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-BOX-
2017-06 and should be submitted on or before February 24, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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    \14\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-02261 Filed 2-2-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 83, Number 14 (Monday, January 22, 2018)]
[Notices]
[Pages 3010-3011]
[FR Doc No: 2018-01043]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

[Docket No. USCG-2017-0949]

Collection of Information Under Review by Office of Management
and Budget; OMB Control Number: 1625-0106

AGENCY: Coast Guard, DHS.

ACTION: Thirty-day notice requesting comments.

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SUMMARY: In compliance with the Paperwork Reduction Act of 1995 the
U.S. Coast Guard is forwarding an Information Collection Request (ICR),
abstracted below, to the Office of Management and Budget (OMB), Office
of Information and Regulatory Affairs (OIRA), requesting approval for
reinstatement, without change, of the following collection of
information: 1625-0106, Unauthorized Entry into Cuban Territorial
Waters. Our ICR describes the information we seek to collect from the
public. Review and comments by OIRA ensure we only impose paperwork
burdens commensurate with our performance of duties.

DATES: Comments must reach the Coast Guard and OIRA on or before
February 21, 2018.

ADDRESSES: You may submit comments identified by Coast Guard docket
number [USCG-2017-0949] to the Coast Guard using the Federal
eRulemaking Portal at http://www.regulations.gov. Alternatively, you
may submit comments to OIRA using one of the following means:
    (1) Email: [email protected].
    (2) Mail: OIRA, 725 17th Street NW, Washington, DC 20503, attention
Desk Officer for the Coast Guard.
    A copy of the ICR is available through the docket on the internet
at http://www.regulations.gov. Additionally, copies are available from:
Commandant (CG-612), Attn: Paperwork Reduction Act Manager, U.S. Coast
Guard, 2703 Martin Luther King Jr. Ave. SE, Stop 7710, Washington, DC
20593-7710.

FOR FURTHER INFORMATION CONTACT: Contact Mr. Anthony Smith, Office of
Information Management, telephone<PHONE_NUMBER>, or fax<PHONE_NUMBER>,
for questions on these documents.

SUPPLEMENTARY INFORMATION:

Public Participation and Request for Comments

    This Notice relies on the authority of the Paperwork Reduction Act
of 1995; 44 U.S.C. Chapter 35, as amended. An ICR is an application to
OIRA seeking the approval, extension, or renewal of a Coast Guard
collection of information (Collection). The ICR contains information
describing the Collection's purpose, the Collection's likely burden on
the affected public, an explanation of the necessity of the Collection,
and other important information describing the Collection. There is one
ICR for each Collection. The Coast Guard invites

comments on whether this ICR should be granted based on the Collection
being necessary for the proper performance of Departmental functions.
In particular, the Coast Guard would appreciate comments addressing:
(1) The practical utility of the Collection; (2) the accuracy of the
estimated burden of the Collection; (3) ways to enhance the quality,
utility, and clarity of information subject to the Collection; and (4)
ways to minimize the burden of the Collection on respondents, including
the use of automated collection techniques or other forms of
information technology. These comments will help OIRA determine whether
to approve the ICR referred to in this Notice.
    We encourage you to respond to this request by submitting comments
and related materials. Comments to Coast Guard or OIRA must contain the
OMB Control Number of the ICR. They must also contain the docket number
of this request, [USCG-2017-0949], and must be received by February 21,
2018.

Submitting Comments

    We encourage you to submit comments through the Federal eRulemaking
Portal at http://www.regulations.gov. If your material cannot be
submitted using http://www.regulations.gov, contact the person in the
FOR FURTHER INFORMATION CONTACT section of this document for alternate
instructions. Documents mentioned in this notice, and all public
comments, are in our online docket at http://www.regulations.gov and
can be viewed by following that website's instructions. Additionally,
if you go to the online docket and sign up for email alerts, you will
be notified when comments are posted.
    We accept anonymous comments. All comments received will be posted
without change to http://www.regulations.gov and will include any
personal information you have provided. For more about privacy and the
docket, you may review a Privacy Act notice regarding the Federal
Docket Management System in the March 24, 2005, issue of the Federal
Register (70 FR 15086).
    OIRA posts its decisions on ICRs online at http://www.reginfo.gov/public/do/PRAMain after the comment period for each ICR. An OMB Notice
of Action on each ICR will become available via a hyperlink in the OMB
Control Number: 1625-0106.

Previous Request for Comments

    This request provides a 30-day comment period required by OIRA. The
Coast Guard published the 60-day notice (82 FR 48837, October 20, 2017)
required by 44 U.S.C. 3506(c)(2). That Notice elicited no comments.
Accordingly, no changes have been made to the Collections.

Information Collection Request

    Title: Unauthorized Entry into Cuban Territorial Waters.
    OMB Control Number: 1625-0106.
    Summary: The Coast Guard, pursuant to Presidential proclamation and
order of the Secretary of Homeland Security, is requiring U.S. vessels,
and vessels without nationality, less than 100 meters, located within
the internal waters or the 12 nautical mile territorial sea of the
United States, that thereafter enter Cuban territorial waters, to apply
for and receive a Coast Guard permit.
    Need: The information is collected to regulate departure from U.S.
territorial waters of U.S. vessels, and vessels without nationality,
and entry thereafter into Cuban territorial waters. The need to
regulate this vessel traffic supports ongoing efforts to enforce the
Cuban embargo, which is designed to bring about an end to the current
government and a peaceful transition to democracy. Accordingly, only
applicants that demonstrate prior U.S. government approval for exports
to and transactions with Cuba will be issued a Coast Guard permit.
    The permit regulation requires that applicants hold United States
Department of Commerce, Bureau of Industry and Security (BIS) and U.S.
Department of Treasury the Office of Foreign Assets Control (OFAC)
licenses that permit exports to and transactions with Cuba. The USCG
permit process thus allows the agency to collect information from
applicants about their status vis-[agrave]-vis BIS and OFAC licenses
and monitor compliance with BIS and OFAC regulations. These two
agencies administer statutes and regulations that proscribe exports to
(BIS) and transactions with (OFAC) Cuba. Accordingly, in order to
assist BIS and OFAC in the enforcement of these license requirements,
as directed by the President and the Secretary of Homeland Security,
the Coast Guard is requiring certain U.S. vessels, and vessels without
nationality, to demonstrate that they hold these licenses before they
depart for Cuban waters.
    Forms: CG-3300, Application for Permit to Enter Cuban Territorial
Seas.
    Respondents: Owners and operators of vessels.
    Frequency: On occasion.
    Hour Burden Estimate: The estimated burden has increased to 351
hours per year due to an increase in applicants after the normalization
of relations with the Cuban government.

    Authority: The Paperwork Reduction Act of 1995; 44 U.S.C.
Chapter 35, as amended.

    Dated: January 16, 2018.
James D. Roppel,
Acting Chief, U.S. Coast Guard, Office of Information Management.
[FR Doc. 2018-01043 Filed 1-19-18; 8:45 am]
 BILLING CODE 9110-04-P