80 FR 10198 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Pilot Period Applicable to Rule 953.1NY(c), Obvious and Catastrophic Errors, Until October 23, 2015
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 37 (February 25, 2015)
Federal Register Volume 80, Issue 37 (February 25, 2015)
| Page Range | 10198-10200 | |
| FR Document | 2015-03817 |
[Federal Register Volume 80, Number 37 (Wednesday, February 25, 2015)] [Notices] [Pages 10198-10200] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-03817] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74309; File No. SR-NYSEMKT-2015-10] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Pilot Period Applicable to Rule 953.1NY(c), Obvious and Catastrophic Errors, Until October 23, 2015 February 19, 2015. 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 February 18, 2015, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') 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 change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to extend the pilot period applicable to Rule 953.1NY(c), which addresses how the Exchange treats Obvious and Catastrophic Errors during periods of extreme market volatility, until October 23, 2015. The pilot period is currently set to expire on February 20, 2015. The text of the proposed rule change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received [[Page 10199]] on the proposed rule change. The text of those 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 The Exchange proposes to extend the pilot period applicable to Rule 953.1NY(c), which addresses how the Exchange treats Obvious and Catastrophic Errors during periods of extreme market volatility, until October 23, 2015. The pilot period is currently set to expire on February 20, 2015. In April 2013, in connection with the Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of Regulation NMS (the ``Plan''),\3\ the Exchange adopted Rule 953.1NY(c) to provide that options executions would not be adjusted or nullified if the execution occurs during periods of extreme market volatility.\4\ Specifically, Rule 953.1NY(c) provides that, during the pilot period, electronic transactions in options that overlay an NMS Stock that occur during a Limit State or a Straddle State (as defined by the Plan) are not subject to review under Rule 975NY(a) for Obvious Errors or Rule 975NY(d) for Catastrophic Errors. Nothing in Rule 953.1NY(c) prevents electronic transactions in options that overlay an NMS Stock that occur during a Limit State or a Straddle State from being reviewed on Exchange motion pursuant to 975NY(b)(3). --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 67091 (May 31, 2012), 77 FR 33498 (June 6, 2012) (File No. 4-631) (Order Approving, on a Pilot Basis, the Plan). The Plan is designed to prevent trades in individual NMS Stocks from occurring outside of specified Price Bands, which are described in more detail in the Plan. \4\ See Securities and Exchange Act Release No. 69339 (April 8, 2013), 78 FR 22011 (April 12, 2013) (SR-NYSEMKT-2013-10) (``Approval Order''). --------------------------------------------------------------------------- The Plan has been amended several times since inception and was not implemented until February 24, 2014. The Participants to the Plan recently filed to extend the Plan's pilot period until October 23, 2015 (the ``Eighth Amendment'').\5\ The purpose of this proposed extension is to provide time for the Participants to prepare a supplemental assessment and recommendation regarding the Plan and for the public to comment on such assessment for the purpose of determining whether there should be any modifications to the Plan. --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 74110 (January 21, 2015), 80 FR 4321 (January 27, 2015) (File No. 4-631) (notice of proposed Eighth Amendment to the Plan). --------------------------------------------------------------------------- In order to align the pilot period for Rule 953.1NY(c) with the proposed pilot period for the Plan, the Exchange similarly proposes to extend the pilot period until October 23, 2015. The Exchange believes the benefits afforded to market participants under Rule 953.1NY(c) should continue on a pilot basis during the same period as the Plan pilot. The Exchange continues to believe that adding certainty to the execution of orders in Limit or Straddle States would encourage market participants to continue to provide liquidity to the Exchange, and thus, promote a fair and orderly market during those periods. Thus, the Exchange believes that the protections of current Rule 953.1NY(c) should continue while the industry gains further experience operating the Plan. In addition, the Exchange believes that extending the pilot period for Rule 953.1NY(c) would allow the Exchange to continue to collect and evaluate data, as well as to conduct further data analyses, related to this provision. Specifically, in connection with the adoption of Rule 953.1NY(c), the Exchange committed to review the operation of this provision and to analyze the impact of Limit and Straddle States accordingly.\6\ The Exchange agreed to and has been providing to the Commission and the public data for each Straddle State and Limit State in NMS Stocks underlying options traded on the Exchange beginning in April 2013, limited to those option classes that have at least one (1) trade on the Exchange during a Straddle State or Limit State.\7\ For each of those option classes affected, each data record contains the following information: --------------------------------------------------------------------------- \6\ Specifically, the Exchange committed to: ``(1) Evaluate the options market quality during Limit States and Straddle States; (2) assess the character of incoming order flow and transactions during Limit States and Straddle States; and (3) review any complaints from members and their customers concerning executions during Limit States and Straddle States.'' See Approval Order, 78 FR at 22015. \7\ See Securities Exchange Act Release No. 71870 (April 4, 2014), 79 FR 19692 (April 9, 2014) (SR-NYSEMKT-2014-31). ---------------------------------------------------------------------------Stock symbol, option symbol, time at the start of the Straddle or Limit State, an indicator for whether it is a Straddle or Limit State. For activity on the Exchange: executed volume, time-weighted quoted bid-ask spread, time-weighted average quoted depth at the bid, time-weighted average quoted depth at the offer; high execution price, low execution price; number of trades for which a request for review for error was received during Straddle and Limit States; an indicator variable for whether those options outlined above have a price change exceeding 30% during the underlying stock's Limit or Straddle state compared to the last available option price as reported by OPRA before the start of the Limit or Straddle State (1 if observe 30% and 0 otherwise). Another indicator variable for whether the option price within five minutes of the underlying stock leaving the Limit or Straddle state (or halt if applicable) is 30% away from the price before the start of the Limit or Straddle state. In addition, the Exchange has committed to provide to the Commission by May 29, 2015 assessments relating to the impact of the operation of the Obvious Error rules during Limit and Straddle States as follows: (1) Evaluate the statistical and economic impact of Limit and Straddle States on liquidity and market quality in the options markets; and (2) Assess whether the lack of Obvious Error rules in effect during the Straddle and Limit States are problematic. The Exchange notes that, to date, there have not been any requests for review of Obvious Error of options trades that occur during a Limit or Straddle State in the underlying security. The Exchange believes that the extension of the pilot period of Rule 953.1NY(c) would allow the Exchange to continue to observe the operation of the pilot and conduct its assessments relating to the impact of the operation of the Rule during Limit and Straddle States, which information will continue to be shared with the Commission and the public as set forth above. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with Section 6(b) of the Act \8\ in general, and furthers the objectives of Section 6(b)(5),\9\ in particular, in that it 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. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f (b). \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- Specifically, the proposal to extend the pilot program of Rule 953.1NY(c) until October 23, 2015 would align that pilot program with the Pilot Period for the Plan, as proposed in the Eighth Amendment to the Plan. The Exchange [[Page 10200]] believes that aligning the pilot periods would ensure that trading in options that overlay NMS Stocks continues to be appropriately modified to reflect market conditions that occur during a Limit State or a Straddle State in a manner that promotes just and equitable principles of trade and removes impediments to, and perfects the mechanism of, a free and open market and a national market system. The Exchange believes that the extension of Rule 953.1NY(c) would help encourage market participants to continue to provide liquidity during extraordinary market volatility. Moreover, the Exchange believes that extending the pilot period for Rule 953.1NY(c) would remove impediments to, and perfect the mechanisms of, a free and open market because it would enable the Exchange to continue to continue to conduct its assessments relating to the impact of the operation of the Obvious Error rules during Limit and Straddle States as set forth above, which, in turn, provides the Exchange with more information from which to assess the impact of Rule 953.1NY(c). 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 that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed changes will not impose any burden on competition and will instead provide certainty regarding the treatment and execution of options orders, specifically the treatment of Obvious and Catastrophic Errors during periods of extraordinary volatility in the underlying NMS Stock, and will facilitate appropriate liquidity during a Limit State or Straddle State. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. 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 if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b- 4(f)(6)(iii) thereunder.\11\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). \11\ 17 CFR 240.19b-4(f)(6)(iii). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the 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. --------------------------------------------------------------------------- The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest, as it will allow the obvious error pilot program to continue uninterrupted while the industry gains further experience operating under the Plan, and avoid any investor confusion that could result from a temporary interruption in the pilot program. For this reason, the Commission designates the proposed rule change to be operative upon filing.\12\ --------------------------------------------------------------------------- \12\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 protected]. Please include File Number SR-NYSEMKT-2015-10 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-NYSEMKT-2015-10. 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 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-NYSEMKT-2015-10, and should be submitted on or before March 18, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-03817 Filed 2-24-15; 8:45 am] BILLING CODE 8011-01-P
![10198 Federal Register / Vol. 80, No. 37 / Wednesday, February 25, 2015 / Notices
C. Self-Regulatory Organization’s IV. Solicitation of Comments For the Commission, by the Division of
Statement on Comments on the Trading and Markets, pursuant to delegated
Proposed Rule Change Received From Interested persons are invited to authority.10
Members, Participants, or Others submit written data, views, and Brent J. Fields,
arguments concerning the foregoing, Secretary.
Written comments were neither
solicited nor received. including whether the proposed rule [FR Doc. 2015–03815 Filed 2–24–15; 8:45 am]
change is consistent with the Act. BILLING CODE 8011–01–P
III. Date of Effectiveness of the Comments may be submitted by any of
Proposed Rule Change and Timing for the following methods:
Commission Action SECURITIES AND EXCHANGE
Electronic Comments COMMISSION
Because the proposed rule change
does not (i) significantly affect the • Use the Commission’s Internet [Release No. 34–74309; File No. SR–
protection of investors or the public comment form (http://www.sec.gov/ NYSEMKT–2015–10]
interest; (ii) impose any significant rules/sro.shtml); or
burden on competition; and (iii) become Self-Regulatory Organizations; NYSE
operative for 30 days from the date on • Send an email to rule-comments@ MKT LLC; Notice of Filing and
which it was filed, or such shorter time sec.gov. Please include File Number SR– Immediate Effectiveness of Proposed
as the Commission may designate if MIAX–2015–11 on the subject line. Rule Change Extending the Pilot
consistent with the protection of Paper Comments Period Applicable to Rule 953.1NY(c),
investors and the public interest, the Obvious and Catastrophic Errors, Until
proposed rule change has become • Send paper comments in triplicate October 23, 2015
effective pursuant to Section 19(b)(3)(A) to Brent J. Fields, Secretary, Securities
of the Act 7 and Rule 19b–4(f)(6)(iii) February 19, 2015.
and Exchange Commission, 100 F Street
thereunder.8 NE., Washington, DC 20549–1090. Pursuant to Section 19(b)(1) of the
The Exchange has asked the Securities Exchange Act of 1934 (the
Commission to waive the 30-day All submissions should refer to File ‘‘Act’’),1 and Rule 19b–4 thereunder,2
operative delay so that the proposal may Number SR–MIAX–2015–11. This file notice is hereby given that on February
become operative immediately upon number should be included on the 18, 2015, NYSE MKT LLC (the
filing. The Commission believes that subject line if email is used. To help the ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
waiving the 30-day operative delay is Commission process and review your the Securities and Exchange
consistent with the protection of comments more efficiently, please use Commission (‘‘Commission’’) the
investors and the public interest, as it only one method. The Commission will proposed rule change as described in
will allow the obvious error pilot post all comments on the Commission’s Items I and II below, which Items have
program to continue uninterrupted Internet Web site (http://www.sec.gov/ been prepared by the self-regulatory
while the industry gains further rules/sro.shtml). Copies of the organization. The Commission is
experience operating under the Plan to submission, all subsequent publishing this notice to solicit
Address Extraordinary Market amendments, all written statements comments on the proposed rule change
Volatility, and avoid any investor with respect to the proposed rule from interested persons.
confusion that could result from a
change that are filed with the I. Self-Regulatory Organization’s
temporary interruption in the pilot
Commission, and all written Statement of the Terms of the Substance
program. For this reason, the
communications relating to the of the Proposed Rule Change
Commission designates the proposed
rule change to be operative upon filing.9 proposed rule change between the The Exchange proposes to extend the
At any time within 60 days of the Commission and any person, other than pilot period applicable to Rule
filing of the proposed rule change, the those that may be withheld from the 953.1NY(c), which addresses how the
Commission summarily may public in accordance with the Exchange treats Obvious and
temporarily suspend such rule change if provisions of 5 U.S.C. 552, will be Catastrophic Errors during periods of
it appears to the Commission that such available for Web site viewing and extreme market volatility, until October
action is necessary or appropriate in the printing in the Commission’s Public 23, 2015. The pilot period is currently
public interest, for the protection of Reference Room, 100 F Street NE., set to expire on February 20, 2015. The
investors, or otherwise in furtherance of Washington, DC 20549 on official text of the proposed rule change is
the purposes of the Act. If the business days between the hours of available on the Exchange’s Web site at
Commission takes such action, the 10:00 a.m. and 3:00 p.m. Copies of such www.nyse.com, at the principal office of
Commission shall institute proceedings filing also will be available for the Exchange, and at the Commission’s
to determine whether the proposed rule inspection and copying at the principal Public Reference Room.
should be approved or disapproved. office of the Exchange. All comments II. Self-Regulatory Organization’s
received will be posted without change; Statement of the Purpose of, and
7 15 U.S.C. 78s(b)(3)(A).
8 17
the Commission does not edit personal Statutory Basis for, the Proposed Rule
CFR 240.19b–4(f)(6)(iii). As required under
Rule 19b–4(f)(6)(iii), the Exchange provided the identifying information from Change
Commission with written notice of its intent to file submissions. You should submit only
asabaliauskas on DSK5VPTVN1PROD with NOTICES
the proposed rule change, along with a brief
In its filing with the Commission, the
information that you wish to make self-regulatory organization included
description and the text of the proposed rule
change, at least five business days prior to the date
available publicly. All submissions statements concerning the purpose of,
of filing of the proposed rule change, or such should refer to File Number SR–MIAX– and basis for, the proposed rule change
shorter time as designated by the Commission. 2015–11, and should be submitted on or and discussed any comments it received
9 For purposes only of waiving the 30-day
before March 18, 2015.
operative delay, the Commission has also
10 17 CFR 200.30–3(a)(12).
considered the proposed rule’s impact on
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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![10200 Federal Register / Vol. 80, No. 37 / Wednesday, February 25, 2015 / Notices
believes that aligning the pilot periods proposed rule change has become and Exchange Commission, 100 F Street
would ensure that trading in options effective pursuant to Section 19(b)(3)(A) NE., Washington, DC 20549–1090.
that overlay NMS Stocks continues to be of the Act 10 and Rule 19b–4(f)(6)(iii) All submissions should refer to File
appropriately modified to reflect market thereunder.11 Number SR–NYSEMKT–2015–10. This
conditions that occur during a Limit The Exchange has asked the file number should be included on the
State or a Straddle State in a manner Commission to waive the 30-day subject line if email is used. To help the
that promotes just and equitable operative delay so that the proposal may Commission process and review your
principles of trade and removes become operative immediately upon comments more efficiently, please use
impediments to, and perfects the filing. The Commission believes that only one method. The Commission will
mechanism of, a free and open market waiving the 30-day operative delay is post all comments on the Commission’s
and a national market system. The consistent with the protection of Internet Web site (http://www.sec.gov/
Exchange believes that the extension of investors and the public interest, as it rules/sro.shtml). Copies of the
Rule 953.1NY(c) would help encourage will allow the obvious error pilot submission, all subsequent
market participants to continue to program to continue uninterrupted amendments, all written statements
provide liquidity during extraordinary while the industry gains further with respect to the proposed rule
market volatility. experience operating under the Plan, change that are filed with the
Moreover, the Exchange believes that and avoid any investor confusion that Commission, and all written
extending the pilot period for Rule could result from a temporary communications relating to the
953.1NY(c) would remove impediments interruption in the pilot program. For proposed rule change between the
to, and perfect the mechanisms of, a free this reason, the Commission designates Commission and any person, other than
and open market because it would the proposed rule change to be operative those that may be withheld from the
enable the Exchange to continue to upon filing.12 public in accordance with the
continue to conduct its assessments At any time within 60 days of the
provisions of 5 U.S.C. 552, will be
relating to the impact of the operation filing of the proposed rule change, the
available for Web site viewing and
of the Obvious Error rules during Limit Commission summarily may
printing in the Commission’s Public
and Straddle States as set forth above, temporarily suspend such rule change if
Reference Room, 100 F Street NE.,
which, in turn, provides the Exchange it appears to the Commission that such
Washington, DC 20549 on official
with more information from which to action is necessary or appropriate in the
business days between the hours of
assess the impact of Rule 953.1NY(c). public interest, for the protection of
10:00 a.m. and 3:00 p.m. Copies of such
investors, or otherwise in furtherance of
B. Self-Regulatory Organization’s the purposes of the Act. If the filing also will be available for
Statement on Burden on Competition Commission takes such action, the inspection and copying at the principal
Commission shall institute proceedings office of the Exchange. All comments
The Exchange does not believe that
to determine whether the proposed rule received will be posted without change;
the proposed rule change will impose
should be approved or disapproved. the Commission does not edit personal
any burden on competition that is not
identifying information from
necessary or appropriate in furtherance IV. Solicitation of Comments submissions. You should submit only
of the purposes of the Act. The
Interested persons are invited to information that you wish to make
proposed changes will not impose any
submit written data, views, and available publicly. All submissions
burden on competition and will instead
arguments concerning the foregoing, should refer to File Number SR–
provide certainty regarding the
including whether the proposed rule NYSEMKT–2015–10, and should be
treatment and execution of options
change is consistent with the Act. submitted on or before March 18, 2015.
orders, specifically the treatment of
Obvious and Catastrophic Errors during Comments may be submitted by any of For the Commission, by the Division of
periods of extraordinary volatility in the the following methods: Trading and Markets, pursuant to delegated
authority.13
underlying NMS Stock, and will Electronic Comments
facilitate appropriate liquidity during a Brent J. Fields,
• Use the Commission’s Internet Secretary.
Limit State or Straddle State.
comment form (http://www.sec.gov/ [FR Doc. 2015–03817 Filed 2–24–15; 8:45 am]
C. Self-Regulatory Organization’s rules/sro.shtml); or
Statement on Comments on the • Send an email to rule- BILLING CODE 8011–01–P
Proposed Rule Change Received From comments@sec.gov. Please include File
Members, Participants, or Others Number SR–NYSEMKT–2015–10 on the SECURITIES AND EXCHANGE
subject line.
No written comments were solicited COMMISSION
or received with respect to the proposed Paper Comments [File No. 500–1]
rule change. • Send paper comments in triplicate
III. Date of Effectiveness of the to Brent J. Fields, Secretary, Securities In the Matter of Calypte Biomedical
Proposed Rule Change and Timing for Corporation, EC Development, Inc.,
Commission Action 10 15 U.S.C. 78s(b)(3)(A). and Information Architects
11 17 CFR 240.19b–4(f)(6)(iii). As required under Corporation (n/k/a Dakota Creative
Because the proposed rule change Rule 19b–4(f)(6)(iii), the Exchange provided the Group Corporation); Order of
does not (i) significantly affect the Commission with written notice of its intent to file
asabaliauskas on DSK5VPTVN1PROD with NOTICES
the proposed rule change, along with a brief Suspension of Trading
protection of investors or the public
description and the text of the proposed rule
interest; (ii) impose any significant change, at least five business days prior to the date February 20, 2015.
burden on competition; and (iii) become of filing of the proposed rule change, or such It appears to the Securities and
operative for 30 days from the date on shorter time as designated by the Commission. Exchange Commission that there is a
12 For purposes only of waiving the 30-day
which it was filed, or such shorter time lack of current and accurate information
operative delay, the Commission has also
as the Commission may designate if considered the proposed rule’s impact on concerning the securities of Calypte
consistent with the protection of efficiency, competition, and capital formation. See
investors and the public interest, the 15 U.S.C. 78c(f). 13 17 CFR 200.30–3(a)(12).
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Document Created: 2015-12-18 13:08:40
Document Modified: 2015-12-18 13:08:40
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 80 FR 10198 |
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