80 FR 11713 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 42 (March 4, 2015)
Federal Register Volume 80, Issue 42 (March 4, 2015)
| Page Range | 11713-11715 | |
| FR Document | 2015-04422 |
[Federal Register Volume 80, Number 42 (Wednesday, March 4, 2015)] [Notices] [Pages 11713-11715] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-04422] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74382; File No. SR-NYSEARCA-2015-10] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule February 26, 2015. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on February 18, 2015, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE Arca Options Fee Schedule (``Fee Schedule'') by adding to the Fee Schedule information regarding the number of option issues a Market Maker may have in their assignment in relation to the number of OTPs a Market Maker has. 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 on the proposed rule change. The text [[Page 11714]] 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 amend the Fee Schedule by adding to the Fee Schedule information from Rule 6.35(d)(1)-(4) regarding the number of options issues a Market Maker may have in its assignment in relation to the number of OTPs a Market Maker has. The Fee Schedule sets forth the fees and charges that participants on the Exchange can be expected to pay. However, NYSE Arca Market Makers need to refer to Rule 6.35 (d)(1) to (4) to ascertain the number of OTPs they are required to have depending on the number of option issues in their assignment. The Exchange is proposing to include this information in the Fee Schedule so that Market Makers have a single reference point to ascertain fees associated with their activities on the Exchange.\4\ In particular, because the Exchange charges a fee for each OTP assigned to an OTP Holder or OTP Firm (``OTPs''), the rule text identifies the fee structure by setting forth the number of trading permits that are required of OTPs acting as Market Makers according to the number of options issues included in their appointment. --------------------------------------------------------------------------- \4\ See e.g., NYSE Amex Options Fee Schedule, available here [sic], (Section III.A., Monday [sic] ATP Fees). See also Securities and Exchange Act Release No. 67505 (July 26, 2012), 77 FR 45292 [sic] (July 31, 2012) (SR-NYSEMKT-2012-24) (filing for immediate effectiveness to add information regarding ATP Fees previously found in NYSE Arca Rule 923NY(d)(1)-(4) [sic] to Fee Schedule). --------------------------------------------------------------------------- Rule 6.35 (d)(1) to (4) sets forth the trading appointments of participants acting as Market Makers on the Exchange as follows: (1) Market Makers with 1 OTP may have up to 100 option issues included in their appointment. (2) Market Makers with 2 OTPs may have up to 250 option issues included in their appointment. (3) Market Makers with 3 OTPs may have up to 750 option issues included in their appointment. (4) Market Makers with 4 OTPs may have all option issues traded on the Exchange included in their appointment. The Exchange proposes to add the information from Rule 6.35(d)(1)- (4) to the Fee Schedule under ``NYSE Arca GENERAL OPTIONS and TRADING PERMIT (OTP) FEES,'' subsection ``NYSE Arca Market Makers.'' Because the current fee schedule sets forth the monthly OTP Fees for NYSE Arca Market Makers, the Exchange proposes to delete this text and add the substance of the OTP fees back in a table format, together with the number of option issues permitted in a Market Maker's assignment depending on the OTPs held by such Market Maker as set forth in Rule 6.35(d)(1)-(4). The proposed fee schedule would read as follows: --------------------------------------------------------------------------- \5\ The Commission notes that the Exhibit 5 submitted with this proposed rule change says ``Number of Options Issues Permitted in Market Makers Assignment.'' ------------------------------------------------------------------------ Number of issues permitted Monthly fee per OTP \5\ in Market Maker's quoting assignmentmaker ------------------------------------------------------------------------ $6,000 for 1st OTP........................ Up to 100 option issues. $5,000 for the 2nd OTP.................... Up to 250 option issues. $4,000 for the 3rd OTP.................... Up to 750 option issues. $3,000 for the 4th OTP.................... All option issues traded on the Exchange. $1,000 for the 5th and additional OTPs.... All option issues traded on the Exchange. ------------------------------------------------------------------------ The Exchange is not proposing any change in the number of OTPs required by Market Makers. The Exchange believes its proposed change would make the Fee Schedule more comprehensive, thereby better informing members.\6\ --------------------------------------------------------------------------- \6\ Following effectiveness of this proposal, the Exchange plans to file an amendment to Rule 6.35 (Market Maker Appointments), which would include replacing the text of Rule 6.35(d)(1)-(4) with a reference to the Fee Schedule. The proposed change to the Fee Schedule is not contingent upon effectiveness of the changes to Rule 6.35. Until any changes are made to Rule 6.35, the information about the number of option issues permitted in a Market Maker's assignment in relation to the number of OTPs it holds will appear in both the Fee Schedule and Rule 6.35. --------------------------------------------------------------------------- For consistency, the Exchange also proposes to make a non- substantive formatting change to how it presents and formats the information related to OTP fees for Floor Brokers, Office, and Clearing Firms to align with the proposed changes to Market Maker OTP fees. The Exchange believes this proposed change would add clarify [sic] and consistency to the Fee Schedule. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (the ``Act''),\7\ in general, and furthers the objectives of Section 6(b)(4) of the Act,\8\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that the proposed change is reasonable, equitable and not unfairly discriminatory because including in the Fee Schedule the number of permits required of OTP Holders and OTP Firms acting as Market Makers on the Exchange from Rule 6.35 (d)(1) through (4) improves the clarity and transparency of the Fee Schedule, which is to the benefit of all market participants who would be better able to understand the basis for Exchange fees. The Exchange believes that the proposed non-substantive formatting changes, including to re-organize how it presents information regarding OTP fees (e.g., streamlined information from current rule text, together with information from Rule 6.35(d)(1)-(4)), would likewise add to the clarity, transparency and comprehensibility of the Fee Schedule to the benefit of all market participants. 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. As noted above, the Exchange believes the proposed change will enhance to [sic] comprehensibility of the Fee Schedule to the benefit of all market participants, which is pro-competitive. The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues. In such an environment, the Exchange must continually review, and consider adjusting, its fees and credits to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. 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. [[Page 11715]] III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b- 4\10\ thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- At any time within 60 days of the filing of such 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 under Section 19(b)(2)(B) \11\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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 CommentsUse 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-NYSEARCA-2015-10 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-NYSEARCA-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 the filing will also be available for inspection and copying at the NYSE's principal office and on its Internet Web site at www.nyse.com. 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-NYSEARCA-2015-10, and should be submitted on or before March 25, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Jill M. Peterson, Assistant Secretary. [FR Doc. 2015-04422 Filed 3-3-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 42 / Wednesday, March 4, 2015 / Notices 11713
III. Date of Effectiveness of the IV. Solicitation of Comments For the Commission, by the Division of
Proposed Rule Change and Timing for Trading and Markets, pursuant to delegated
Commission Action Interested persons are invited to authority.12
submit written data, views, and Jill M. Peterson,
Because the foregoing proposed rule arguments concerning the foregoing, Assistant Secretary.
change does not: (1) Significantly affect including whether the proposed rule [FR Doc. 2015–04420 Filed 3–3–15; 8:45 am]
the protection of investors or the public change is consistent with the Act. BILLING CODE 8011–01–P
interest; (2) impose any significant Comments may be submitted by any of
burden on competition; and (3) by its the following methods:
terms does not become operative for 30 SECURITIES AND EXCHANGE
days after the date of this filing, or such Electronic Comments COMMISSION
shorter time as the Commission may • Use the Commission’s Internet [Release No. 34–74382; File No. SR–
designate if consistent with the comment form (http://www.sec.gov/ NYSEARCA–2015–10]
protection of investors and the public rules/sro.shtml); or
interest, the proposed rule change has Self-Regulatory Organizations; NYSE
become effective pursuant to Section • Send an email to rule-comments@ Arca, Inc.; Notice of Filing and
19(b)(3)(A) of the Act 9 and Rule 19b– sec.gov. Please include File Number SR– Immediate Effectiveness of Proposed
4(f)(6) thereunder.10 EDGA–2015–12 on the subject line. Rule Change Amending the NYSE Arca
A proposed rule change filed under Paper Comments Options Fee Schedule
Rule 19b–4(f)(6) normally does not February 26, 2015.
• Send paper comments in triplicate
become operative for 30 days after the Pursuant to Section 19(b)(1) 1 of the
to Secretary, Securities and Exchange
date of filing. However, Rule 19b– Securities Exchange Act of 1934 (the
Commission, 100 F Street NE.,
4(f)(6)(iii) permits the Commission to ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Washington, DC 20549–1090.
designate a shorter time if such action notice is hereby given that, on February
is consistent with the protection of All submissions should refer to File 18, 2015, NYSE Arca, Inc. (the
investors and the public interest. The Number SR–EDGA–2015–12. This file ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
Exchange has asked the Commission to number should be included on the the Securities and Exchange
waive the 30-day operative delay so that subject line if email is used. To help the Commission (the ‘‘Commission’’) the
the proposal may become operative Commission process and review your proposed rule change as described in
immediately upon filing. The comments more efficiently, please use Items I, II, and III below, which Items
Commission believes that waiving the only one method. The Commission will have been prepared by the self-
30-day operative delay is consistent post all comments on the Commission’s regulatory organization. The
with the protection of investors and the Internet Web site (http://www.sec.gov/ Commission is publishing this notice to
public interest as it will allow the rules/sro.shtml). Copies of the solicit comments on the proposed rule
Exchange to avoid potential investor submission, all subsequent change from interested persons.
confusion during the operative delay amendments, all written statements I. Self-Regulatory Organization’s
period by immediately eliminating with respect to the proposed rule Statement of the Terms of Substance of
exchange rules that account for a change that are filed with the the Proposed Rule Change
routing option that the Exchange can no Commission, and all written The Exchange proposes to amend the
longer provide due to LavaFlow ECN’s communications relating to the NYSE Arca Options Fee Schedule (‘‘Fee
cessation of operations.11 Accordingly, proposed rule change between the Schedule’’) by adding to the Fee
the Commission hereby grants the Commission and any person, other than Schedule information regarding the
Exchange’s request and designates the those that may be withheld from the number of option issues a Market Maker
proposal operative upon filing. public in accordance with the may have in their assignment in relation
At any time within 60 days of the provisions of 5 U.S.C. 552, will be to the number of OTPs a Market Maker
filing of the proposed rule change, the available for Web site viewing and has. The text of the proposed rule
Commission summarily may printing in the Commission’s Public change is available on the Exchange’s
temporarily suspend such rule change if Reference Room, 100 F Street NE., Web site at www.nyse.com, at the
it appears to the Commission that such Washington, DC 20549, on official principal office of the Exchange, and at
action is necessary or appropriate in the business days between the hours of the Commission’s Public Reference
public interest, for the protection of 10:00 a.m. and 3:00 p.m. Copies of the Room.
investors, or otherwise in furtherance of filing also will be available for II. Self-Regulatory Organization’s
the purposes of the Act. inspection and copying at the principal Statement of the Purpose of, and
office of the Exchange. All comments Statutory Basis for, the Proposed Rule
9 15 U.S.C. 78s(b)(3)(A). received will be posted without change; Change
10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– the Commission does not edit personal
4(f)(6)(iii) requires a self-regulatory organization to
identifying information from In its filing with the Commission, the
provide the Commission with written notice of its self-regulatory organization included
intent to file the proposed rule change, along with submissions. You should submit only
a brief description and text of the proposed rule statements concerning the purpose of,
information that you wish to make
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change, at least five business days prior to the date and basis for, the proposed rule change
available publicly. All submissions
of filing of the proposed rule change, or such and discussed any comments it received
shorter time as designated by the Commission. The should refer to File Number SR–EDGA– on the proposed rule change. The text
Exchange has met this requirement. 2015–12, and should be submitted on or
11 For purposes only of waiving the 30-day
before March 25, 2015. 12 17 CFR 200.30–3(a)(12).
operative delay, the Commission has also
1 15 U.S.C.78s(b)(1).
considered the proposed rule’s impact on
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 3 17 CFR 240.19b–4.
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of those statements may be examined at GENERAL OPTIONS and TRADING of the Act,8 in particular, because it
the places specified in Item IV below. PERMIT (OTP) FEES,’’ subsection provides for the equitable allocation of
The Exchange has prepared summaries, ‘‘NYSE Arca Market Makers.’’ Because reasonable dues, fees, and other charges
set forth in sections A, B, and C below, the current fee schedule sets forth the among its members, issuers and other
of the most significant parts of such monthly OTP Fees for NYSE Arca persons using its facilities and does not
statements. Market Makers, the Exchange proposes unfairly discriminate between
to delete this text and add the substance customers, issuers, brokers or dealers.
A. Self-Regulatory Organization’s
of the OTP fees back in a table format,
Statement of the Purpose of, and The Exchange believes that the
together with the number of option
Statutory Basis for, the Proposed Rule proposed change is reasonable,
issues permitted in a Market Maker’s
Change equitable and not unfairly
assignment depending on the OTPs held
discriminatory because including in the
1. Purpose by such Market Maker as set forth in
Fee Schedule the number of permits
The Exchange proposes to amend the Rule 6.35(d)(1)–(4). The proposed fee
schedule would read as follows: required of OTP Holders and OTP Firms
Fee Schedule by adding to the Fee acting as Market Makers on the
Schedule information from Rule Exchange from Rule 6.35 (d)(1) through
Number of issues
6.35(d)(1)–(4) regarding the number of Monthly fee per permitted 5 in Market (4) improves the clarity and
options issues a Market Maker may have OTP Maker’s quoting transparency of the Fee Schedule,
in its assignment in relation to the assignmentmaker which is to the benefit of all market
number of OTPs a Market Maker has. participants who would be better able to
The Fee Schedule sets forth the fees $6,000 for 1st OTP Up to 100 option
issues. understand the basis for Exchange fees.
and charges that participants on the
$5,000 for the 2nd Up to 250 option The Exchange believes that the
Exchange can be expected to pay. OTP. issues.
However, NYSE Arca Market Makers proposed non-substantive formatting
$4,000 for the 3rd Up to 750 option
need to refer to Rule 6.35 (d)(1) to (4) changes, including to re-organize how it
OTP. issues.
to ascertain the number of OTPs they $3,000 for the 4th All option issues traded presents information regarding OTP fees
are required to have depending on the OTP. on the Exchange. (e.g., streamlined information from
number of option issues in their $1,000 for the 5th All option issues traded current rule text, together with
assignment. The Exchange is proposing and additional on the Exchange. information from Rule 6.35(d)(1)–(4)),
to include this information in the Fee OTPs. would likewise add to the clarity,
Schedule so that Market Makers have a transparency and comprehensibility of
The Exchange is not proposing any the Fee Schedule to the benefit of all
single reference point to ascertain fees
change in the number of OTPs required market participants.
associated with their activities on the
by Market Makers. The Exchange
Exchange.4 In particular, because the B. Self-Regulatory Organization’s
believes its proposed change would
Exchange charges a fee for each OTP Statement on Burden on Competition
make the Fee Schedule more
assigned to an OTP Holder or OTP Firm
comprehensive, thereby better
(‘‘OTPs’’), the rule text identifies the fee The Exchange does not believe that
informing members.6
structure by setting forth the number of For consistency, the Exchange also the proposed rule change will impose
trading permits that are required of proposes to make a non-substantive any burden on competition that is not
OTPs acting as Market Makers according formatting change to how it presents necessary or appropriate in furtherance
to the number of options issues and formats the information related to of the purposes of the Act. As noted
included in their appointment. OTP fees for Floor Brokers, Office, and above, the Exchange believes the
Rule 6.35 (d)(1) to (4) sets forth the Clearing Firms to align with the proposed change will enhance to [sic]
trading appointments of participants proposed changes to Market Maker OTP comprehensibility of the Fee Schedule
acting as Market Makers on the fees. The Exchange believes this to the benefit of all market participants,
Exchange as follows: proposed change would add clarify [sic] which is pro-competitive.
(1) Market Makers with 1 OTP may
and consistency to the Fee Schedule. The Exchange notes that it operates in
have up to 100 option issues included
in their appointment. 2. Statutory Basis a highly competitive market in which
(2) Market Makers with 2 OTPs may market participants can readily favor
The Exchange believes that the competing venues. In such an
have up to 250 option issues included proposed rule change is consistent with
in their appointment. environment, the Exchange must
Section 6(b) of the Securities Exchange
(3) Market Makers with 3 OTPs may continually review, and consider
Act of 1934 (the ‘‘Act’’),7 in general, and
have up to 750 option issues included adjusting, its fees and credits to remain
furthers the objectives of Section 6(b)(4)
in their appointment. competitive with other exchanges. For
(4) Market Makers with 4 OTPs may 5 The Commission notes that the Exhibit 5
the reasons described above, the
have all option issues traded on the submitted with this proposed rule change says Exchange believes that the proposed
Exchange included in their ‘‘Number of Options Issues Permitted in Market rule change reflects this competitive
appointment. Makers Assignment.’’ environment.
6 Following effectiveness of this proposal, the
The Exchange proposes to add the
information from Rule 6.35(d)(1)–(4) to Exchange plans to file an amendment to Rule 6.35 C. Self-Regulatory Organization’s
(Market Maker Appointments), which would Statement on Comments on the
the Fee Schedule under ‘‘NYSE Arca include replacing the text of Rule 6.35(d)(1)–(4)
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with a reference to the Fee Schedule. The proposed Proposed Rule Change Received From
4 See e.g., NYSE Amex Options Fee Schedule, change to the Fee Schedule is not contingent upon Members, Participants, or Others
available here [sic], (Section III.A., Monday [sic] effectiveness of the changes to Rule 6.35. Until any
ATP Fees). See also Securities and Exchange Act changes are made to Rule 6.35, the information No written comments were solicited
Release No. 67505 (July 26, 2012), 77 FR 45292 [sic] about the number of option issues permitted in a or received with respect to the proposed
(July 31, 2012) (SR–NYSEMKT–2012–24) (filing for Market Maker’s assignment in relation to the
number of OTPs it holds will appear in both the Fee
rule change.
immediate effectiveness to add information
regarding ATP Fees previously found in NYSE Arca Schedule and Rule 6.35.
Rule 923NY(d)(1)-(4) [sic] to Fee Schedule). 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(4).
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![Federal Register / Vol. 80, No. 42 / Wednesday, March 4, 2015 / Notices 11715
III. Date of Effectiveness of the proposed rule change between the thereunder,4 which renders it effective
Proposed Rule Change and Timing for Commission and any person, other than upon filing with the Commission. The
Commission Action those that may be withheld from the Commission is publishing this notice to
The foregoing rule change is effective public in accordance with the solicit comments on the proposed rule
upon filing pursuant to Section provisions of 5 U.S.C. 552, will be change from interested persons.
19(b)(3)(A) 9 of the Act and available for Web site viewing and
I. Self-Regulatory Organization’s
subparagraph (f)(2) of Rule 19b–410 printing in the Commission’s Public
Statement of the Terms of Substance of
thereunder, because it establishes a due, Reference Room, 100 F Street NE.,
the Proposed Rule Change
fee, or other charge imposed by the Washington, DC 20549, on official
Exchange. business days between the hours of The Exchange filed a proposal to
At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the amend Rule 11.11, Routing to Away
filing of such proposed rule change, the filing will also be available for Trading Centers, to delete references to
Commission summarily may inspection and copying at the NYSE’s the ROLF routing option, which routed
temporarily suspend such rule change if principal office and on its Internet Web orders to LavaFlow ECN.
it appears to the Commission that such site at www.nyse.com. All comments The text of the proposed rule change
action is necessary or appropriate in the received will be posted without change; is available at the Exchange’s Web site
public interest, for the protection of the Commission does not edit personal at www.batstrading.com, at the
investors, or otherwise in furtherance of identifying information from principal office of the Exchange, and at
the purposes of the Act. If the submissions. You should submit only the Commission’s Public Reference
Commission takes such action, the information that you wish to make Room.
Commission shall institute proceedings available publicly. All submissions II. Self-Regulatory Organization’s
under Section 19(b)(2)(B) 11 of the Act to should refer to File Number SR– Statement of the Purpose of, and
determine whether the proposed rule NYSEARCA–2015–10, and should be Statutory Basis for, the Proposed Rule
change should be approved or submitted on or before March 25, 2015. Change
disapproved. For the Commission, by the Division of In its filing with the Commission, the
IV. Solicitation of Comments Trading and Markets, pursuant to delegated Exchange included statements
authority.12
Interested persons are invited to concerning the purpose of and basis for
Jill M. Peterson, the proposed rule change and discussed
submit written data, views, and Assistant Secretary.
arguments concerning the foregoing, any comments it received on the
including whether the proposed rule
[FR Doc. 2015–04422 Filed 3–3–15; 8:45 am] proposed rule change. The text of these
change is consistent with the Act. BILLING CODE 8011–01–P statements may be examined at the
Comments may be submitted by any of places specified in Item IV below. The
the following methods: Exchange has prepared summaries, set
SECURITIES AND EXCHANGE forth in Sections A, B, and C below, of
Electronic Comments COMMISSION the most significant parts of such
• Use the Commission’s Internet [Release No. 34–74381; File No. SR–EDGX–
statements.
comment form (http://www.sec.gov/ 2015–11] A. Self-Regulatory Organization’s
rules/sro.shtml); or Statement of the Purpose of, and the
• Send an email to rule-comments@ Self-Regulatory Organizations; EDGX Statutory Basis for, the Proposed Rule
sec.gov. Please include File Number SR– Exchange, Inc.; Notice of Filing and Change
NYSEARCA–2015–10 on the subject Immediate Effectiveness of a Proposed
line. Rule Change To Amend Rule 11.11, 1. Purpose
Paper Comments Routing to Away Trading Centers, To The Exchange proposes to amend
Delete References to the ROLF Rule 11.11, Routing to Away Trading
• Send paper comments in triplicate Routing Option, Which Routed Orders Centers, to delete references under
to Secretary, Securities and Exchange to LavaFlow ECN subparagraph (7) to the ROLF routing
Commission, 100 F Street NE., option, which routed to LavaFlow ECN.
Washington, DC 20549–1090. February 26, 2015.
These changes are being proposed in
All submissions should refer to File Pursuant to Section 19(b)(1) of the response to LavaFlow ECN ceasing
Number SR–NYSEARCA–2015–10. This Securities Exchange Act of 1934 (the market operations on Friday, January
file number should be included on the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 30, 2015. Under Rule 11.11(g)(7), an
subject line if email is used. notice is hereby given that on February order utilizing the ROLF routing option
To help the Commission process and 23, 2015, EDGX Exchange, Inc. (the first checked the System 5 for available
review your comments more efficiently, ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
shares and was then routed to the
please use only one method. The Securities and Exchange Commission
LavaFlow ECN. If shares remained
Commission will post all comments on (‘‘Commission’’) the proposed rule
unexecuted after being routed, they
the Commission’s Internet Web site change as described in Items I and II
were cancelled, unless otherwise
(http://www.sec.gov/rules/sro.shtml). below, which Items have been prepared
instructed by the User.6 As of February
Copies of the submission, all subsequent by the Exchange. The Exchange has
amendments, all written statements designated this proposal as a ‘‘non- 4 17 CFR 240.19b–4(f)(6)(iii).
mstockstill on DSK4VPTVN1PROD with NOTICES
with respect to the proposed rule controversial’’ proposed rule change 5 Exchange Rule 1.5(cc) defines ‘‘System’’ as ‘‘the
change that are filed with the pursuant to Section 19(b)(3)(A) of the electronic communications and trading facility
Commission, and all written Act 3 and Rule 19b–4(f)(6)(iii) designated by the Board through which securities
orders of Users are consolidated for ranking,
communications relating to the execution and, when applicable, routing away.’’
12 17 CFR 200.30–3(a)(12). 6 The term ‘‘User’’ is defined as ‘‘any Member or
9 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). Sponsored Participant who is authorized to obtain
10 17 CFR 240.19b–4(f)(2). 2 17 CFR 240.19b–4.
access to the System pursuant to Rule 11.3.’’ See
11 15 U.S.C. 78s(b)(2)(B). 3 15 U.S.C. 78s(b)(3)(A). Exchange Rule 1.5(ee).
VerDate Sep<11>2014 18:11 Mar 03, 2015 Jkt 235001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 E:\FR\FM\04MRN1.SGM 04MRN1](https://thefederalregister.org/doc/80_FR_11755/page/3.svg)
Document Created: 2018-02-21 09:31:57
Document Modified: 2018-02-21 09:31:57
| 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 11713 |
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