80 FR 13927 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 51 (March 17, 2015)

Page Range		13927-13929
FR Document		2015-06010

Federal Register, Volume 80 Issue 51 (Tuesday, March 17, 2015)

[Federal Register Volume 80, Number 51 (Tuesday, March 17, 2015)]
[Notices]
[Pages 13927-13929]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-06010]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74479; File No. SR-MIAX-2015-17]

Self-Regulatory Organizations; Miami International Securities
Exchange LLC; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend Its Fee Schedule

March 11, 2015.
Pursuant to the provisions of 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 March 2, 2015, Miami International Securities
Exchange LLC (``MIAX'' or ``Exchange'') filed with the Securities and
Exchange Commission (``Commission'') a 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 the
Substance of the Proposed Rule Change

The Exchange is filing a proposal to amend its Fee Schedule.
The text of the proposed rule change is available on the Exchange's
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at
MIAX's principal office, 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

[[Page 13928]]

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 Exchange currently has a monthly transaction fee cap of $60,000
for orders that are entered and executed for an account identified by
an Electronic Exchange Member for clearing in the OCC ``Firm'' range
``Monthly Firm Fee Cap''.\3\ The Monthly Firm Fee Cap is based on the
similar fees of another competing options exchange.\4\ The Exchange
proposes to amend the Fee Schedule to delete the Monthly Firm Fee Cap.
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\3\ See Securities Exchange Act Release No. 72583 (July 10,
2014), 79 FR 41612 (July 16, 2014) (SR-MIAX-2014-37).
\4\ See NASDAQ OMX PHLX LLC Pricing Schedule, Section II. See
also Securities Exchange Act Release Nos. 59393 (February 11, 2009).
74 FR 7721 (February 19, 2009) (SR-PHLX-2009-12); 65888 (December 5,
2011), 76 FR 77046 (December 9, 2011) (SR-PHLX-2011-160). See also
NYSE Amex Options Fee Schedule, p. 15.
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The current transaction fees for Firms on the Exchange are: $0.37
per contract for executions in standard option contracts and $0.04 per
contract for mini option contracts in Penny Pilot options classes; and
$0.42 per contract for executions in standard option contracts and
$0.04 per contract for mini option contracts in non-Penny Pilot options
classes. The Exchange currently caps in a single billing month the
total amount of transaction fees for Firms at $60,000.
The Monthly Firm Fee Cap was adopted to create an additional
incentive for Firms to send order flow to the Exchange. Now that the
Exchange is beginning to receive additional order flow from Firms, the
Exchange believes that it is appropriate to remove the Monthly Firm Fee
Cap in order to more closely align the transaction fees of Firms with
non-Firm Members. Therefore, the Exchange now proposes to amend the Fee
Schedule to delete the Monthly Firm Fee Cap. Firms will be subject to
applicable transaction fees provided in the Fee Schedule.\5\
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\5\ See MIAX Options Fee Schedule, Section 1)a)ii) [sic].
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2. Statutory Basis
The Exchange believes that its proposed rule change is consistent
with Section 6(b) of the Act \6\ in general, and furthers the
objectives of Section 6(b)(4) of the Act \7\ in particular, in that it
is an equitable allocation of reasonable fees and other charges among
Exchange members.
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\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4).
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The Exchange believes that the proposal is fair, equitable and not
unreasonably discriminatory. The proposed deletion of the Monthly Firm
Fee Cap is reasonable because the Exchange no longer believes it is
necessary to continue to provide an additional incentive for Firms to
send order flow to the Exchange. The proposed fees are fair and
equitable and not unreasonably discriminatory because they will apply
equally to all Members that have transactions that clear in the Firm
range. All Firms will be subject to the same transaction fee, and
access to the Exchange is offered on terms that are not unfairly
discriminatory. The proposed change should increase the competition
amongst Firms and other types of market participants by eliminating a
fee cap that only applied to Firms. As a result, the transaction fees
for Firms will more closely align with the transaction fees of non-Firm
Members. To the extent that this purpose is achieved, all the
Exchange's market participants should benefit from the increased
competition.

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 Exchange believes the
proposal is consistent with robust competition by increasing the
intramarket competition between Firms and non-Firm Members. The
Exchange believes that the proposal will decrease the competitive
burden on non-Firm Members by removing an additional incentive that
only applied to Firms. As a result, the transaction fees for Firms will
more closely align with the transaction fees of non-Firm Members. To
the extent that this purpose is achieved, all the Exchange's market
participants should benefit from the increased competition. The
Exchange notes that it operates in a highly competitive market in which
market participants can readily favor competing venues if they deem fee
levels at a particular venue to be excessive. In such an environment,
the Exchange must continually adjust its fees to remain competitive
with other exchanges and to attract order flow. The Exchange believes
that the proposal reflects this competitive environment.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\8\ 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.
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\8\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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 rule-comments@sec.gov. Please include
File Number SR-MIAX-2015-17 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-MIAX-2015-17. 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

[[Page 13929]]

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-MIAX-2015-17, and should be submitted on or before April
7, 2015.
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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\
Brent J. Fields,
Secretary.
[FR Doc. 2015-06010 Filed 3-16-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices 13927

IV. Solicitation of Comments For the Commission, by the Division of Office Building, Washington, DC 20503,
Trading and Markets, pursuant to delegated or by sending an email to: Shagufta_
Interested persons are invited to authority.16 Ahmed@omb.eop.gov; and (ii) Pamela
submit written data, views, and Brent J. Fields, Dyson, Director/Chief Information
arguments concerning the foregoing, Secretary. Officer, Securities and Exchange
including whether the proposed rule [FR Doc. 2015–06015 Filed 3–16–15; 8:45 am] Commission, c/o Remi Pavlik-Simon,
change is consistent with the Act. BILLING CODE 8011–01–P 100 F Street NE., Washington, DC
Comments may be submitted by any of 20549, or by sending an email to: PRA_
the following methods: Mailbox@sec.gov. Comments must be
SECURITIES AND EXCHANGE submitted to OMB within 30 days of
Electronic Comments COMMISSION this notice.
• Use the Commission’s Internet Submission for OMB Review;
Dated: March 10, 2015.
comment form (http://www.sec.gov/ Comment Request Brent J. Fields,
rules/sro.shtml); or Secretary.
Upon Written Request, Copies Available
• Send an email to rule-comments@ [FR Doc. 2015–05983 Filed 3–16–15; 8:45 am]
From: Securities and Exchange
sec.gov. Please include File Number SR– BILLING CODE 8011–01–P
Commission, Office of FOIA Services,
NASDAQ–2015–017 on the subject line. 100 F Street NE., Washington, DC
Paper Comments 20549–2736. SECURITIES AND EXCHANGE
Extension: COMMISSION
• Send paper comments in triplicate Rule 24b–1. SEC File No. 270–205; OMB
to Secretary, Securities and Exchange [Release No. 34–74479; File No. SR–MIAX–
Control No. 3235–0194. 2015–17]
Commission, 100 F Street NE., Notice is hereby given that pursuant
Washington, DC 20549–1090. to the Paperwork Reduction Act of 1995 Self-Regulatory Organizations; Miami
All submissions should refer to File (44 U.S.C. 3501 et seq.), the Securities International Securities Exchange LLC;
Number SR–NASDAQ–2015–017. This and Exchange Commission Notice of Filing and Immediate
file number should be included on the (‘‘Commission’’) has submitted to the Effectiveness of a Proposed Rule
subject line if email is used. To help the Office of Management and Budget Change To Amend Its Fee Schedule
Commission process and review your (‘‘OMB’’) a request for approval of March 11, 2015.
comments more efficiently, please use extension of the existing collection of Pursuant to the provisions of Section
only one method. The Commission will information provided for in the 19(b)(1) of the Securities Exchange Act
post all comments on the Commission’s following rule: Rule 24b–1 (17 CFR of 1934 (‘‘Act’’),1 and Rule 19b–4
Internet Web site (http://www.sec.gov/ 240.24b–1). thereunder,2 notice is hereby given that
Rule 24b–1 under the Securities
rules/sro.shtml). Copies of the on March 2, 2015, Miami International
Exchange Act of 1934 (15 U.S.C. 78a et Securities Exchange LLC (‘‘MIAX’’ or
submission, all subsequent seq.) requires a national securities
amendments, all written statements ‘‘Exchange’’) filed with the Securities
exchange to keep and make available for and Exchange Commission
with respect to the proposed rule public inspection a copy of its
change that are filed with the (‘‘Commission’’) a proposed rule change
registration statement and exhibits filed as described in Items I, II, and III below,
Commission, and all written with the Commission, along with any
communications relating to the which Items have been prepared by the
amendments thereto. Exchange. The Commission is
proposed rule change between the There are 18 national securities
publishing this notice to solicit
Commission and any person, other than exchanges that spend approximately comments on the proposed rule change
those that may be withheld from the one half hour each complying with this from interested persons.
public in accordance with the rule, for an aggregate total compliance
provisions of 5 U.S.C. 552, will be burden of 9 hours per year. The staff I. Self-Regulatory Organization’s
available for Web site viewing and estimates that the average cost per Statement of the Terms of the Substance
printing in the Commission’s Public respondent is $65.18 per year, of the Proposed Rule Change
Reference Room, 100 F Street NE., calculated as the costs of copying The Exchange is filing a proposal to
Washington, DC 20549 on official ($13.97) plus storage ($51.21), resulting amend its Fee Schedule.
business days between the hours of in a total cost of compliance for the The text of the proposed rule change
10:00 a.m. and 3:00 p.m. Copies of such respondents of $1,173.24. is available on the Exchange’s Web site
filing also will be available for An agency may not conduct or at http://www.miaxoptions.com/filter/
sponsor, and a person is not required to wotitle/rule_filing, at MIAX’s principal
inspection and copying at the principal
respond to, a collection of information office, and at the Commission’s Public
office of the Exchange. All comments
under the PRA unless it displays a Reference Room.
received will be posted without change; currently valid OMB control number.
the Commission does not edit personal The public may view background II. Self-Regulatory Organization’s
identifying information from documentation for this information Statement of the Purpose of, and
submissions. You should submit only collection at the following Web site: Statutory Basis for, the Proposed Rule
information that you wish to make Change
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www.reginfo.gov. Comments should be
available publicly. All submissions directed to: (i) Desk Officer for the In its filing with the Commission, the
should refer to File Number SR– Securities and Exchange Commission, Exchange included statements
NASDAQ–2015–017, and should be Office of Information and Regulatory concerning the purpose of and basis for
submitted on or before April 7, 2015. Affairs, Office of Management and the proposed rule change and discussed
Budget, Room 10102, New Executive
1 15 U.S.C. 78s(b)(1).
16 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.

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13928 Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices

any comments it received on the Section 6(b) of the Act 6 in general, and Exchange believes that the proposal
proposed rule change. The text of these furthers the objectives of Section 6(b)(4) reflects this competitive environment.
statements may be examined at the of the Act 7 in particular, in that it is an
C. Self-Regulatory Organization’s
places specified in Item IV below. The equitable allocation of reasonable fees
Statement on Comments on the
Exchange has prepared summaries, set and other charges among Exchange
Proposed Rule Change Received From
forth in sections A, B, and C below, of members.
the most significant aspects of such The Exchange believes that the Members, Participants, or Others
statements. proposal is fair, equitable and not Written comments were neither
unreasonably discriminatory. The solicited nor received.
A. Self-Regulatory Organization’s proposed deletion of the Monthly Firm
Statement of the Purpose of, and III. Date of Effectiveness of the
Fee Cap is reasonable because the
Statutory Basis for, the Proposed Rule Proposed Rule Change and Timing for
Exchange no longer believes it is
Change Commission Action
necessary to continue to provide an
1. Purpose additional incentive for Firms to send The foregoing rule change has become
order flow to the Exchange. The effective pursuant to Section
The Exchange currently has a
proposed fees are fair and equitable and 19(b)(3)(A)(ii) of the Act.8 At any time
monthly transaction fee cap of $60,000
not unreasonably discriminatory within 60 days of the filing of the
for orders that are entered and executed
because they will apply equally to all proposed rule change, the Commission
for an account identified by an
Members that have transactions that summarily may temporarily suspend
Electronic Exchange Member for
clear in the Firm range. All Firms will such rule change if it appears to the
clearing in the OCC ‘‘Firm’’ range
be subject to the same transaction fee, Commission that such action is
‘‘Monthly Firm Fee Cap’’.3 The Monthly
and access to the Exchange is offered on necessary or appropriate in the public
Firm Fee Cap is based on the similar
fees of another competing options terms that are not unfairly interest, for the protection of investors,
exchange.4 The Exchange proposes to discriminatory. The proposed change or otherwise in furtherance of the
amend the Fee Schedule to delete the should increase the competition purposes of the Act. If the Commission
Monthly Firm Fee Cap. amongst Firms and other types of takes such action, the Commission shall
The current transaction fees for Firms market participants by eliminating a fee institute proceedings to determine
on the Exchange are: $0.37 per contract cap that only applied to Firms. As a whether the proposed rule should be
for executions in standard option result, the transaction fees for Firms will approved or disapproved.
contracts and $0.04 per contract for more closely align with the transaction
IV. Solicitation of Comments
mini option contracts in Penny Pilot fees of non-Firm Members. To the extent
that this purpose is achieved, all the Interested persons are invited to
options classes; and $0.42 per contract
for executions in standard option Exchange’s market participants should submit written data, views, and
contracts and $0.04 per contract for benefit from the increased competition. arguments concerning the foregoing,
mini option contracts in non-Penny including whether the proposed rule
B. Self-Regulatory Organization’s change is consistent with the Act.
Pilot options classes. The Exchange Statement on Burden on Competition
currently caps in a single billing month Comments may be submitted by any of
The Exchange does not believe that the following methods:
the total amount of transaction fees for
the proposed rule change will impose
Firms at $60,000. Electronic Comments
The Monthly Firm Fee Cap was any burden on competition not
necessary or appropriate in furtherance • Use the Commission’s Internet
adopted to create an additional
incentive for Firms to send order flow of the purposes of the Act. The comment form (http://www.sec.gov/
to the Exchange. Now that the Exchange Exchange believes the proposal is rules/sro.shtml); or
consistent with robust competition by • Send an email to rule-comments@
is beginning to receive additional order
increasing the intramarket competition sec.gov. Please include File Number SR–
flow from Firms, the Exchange believes
between Firms and non-Firm Members. MIAX–2015–17 on the subject line.
that it is appropriate to remove the
Monthly Firm Fee Cap in order to more The Exchange believes that the proposal Paper Comments
closely align the transaction fees of will decrease the competitive burden on
non-Firm Members by removing an • Send paper comments in triplicate
Firms with non-Firm Members. to Brent J. Fields, Secretary, Securities
Therefore, the Exchange now proposes additional incentive that only applied to
Firms. As a result, the transaction fees and Exchange Commission, 100 F Street
to amend the Fee Schedule to delete the NE., Washington, DC 20549–1090.
Monthly Firm Fee Cap. Firms will be for Firms will more closely align with
subject to applicable transaction fees the transaction fees of non-Firm All submissions should refer to File
provided in the Fee Schedule.5 Members. To the extent that this Number SR–MIAX–2015–17. This file
purpose is achieved, all the Exchange’s number should be included on the
2. Statutory Basis market participants should benefit from subject line if email is used. To help the
The Exchange believes that its the increased competition. The Commission process and review your
proposed rule change is consistent with Exchange notes that it operates in a comments more efficiently, please use
highly competitive market in which only one method. The Commission will
3 See Securities Exchange Act Release No. 72583 market participants can readily favor post all comments on the Commission’s
(July 10, 2014), 79 FR 41612 (July 16, 2014) (SR– competing venues if they deem fee Internet Web site (http://www.sec.gov/
MIAX–2014–37).
mstockstill on DSK4VPTVN1PROD with NOTICES

4 See NASDAQ OMX PHLX LLC Pricing
levels at a particular venue to be rules/sro.shtml). Copies of the
Schedule, Section II. See also Securities Exchange excessive. In such an environment, the submission, all subsequent
Act Release Nos. 59393 (February 11, 2009). 74 FR Exchange must continually adjust its amendments, all written statements
7721 (February 19, 2009) (SR–PHLX–2009–12); fees to remain competitive with other with respect to the proposed rule
65888 (December 5, 2011), 76 FR 77046 (December change that are filed with the
9, 2011) (SR–PHLX–2011–160). See also NYSE
exchanges and to attract order flow. The
Amex Options Fee Schedule, p. 15. Commission, and all written
5 See MIAX Options Fee Schedule, Section 1)a)ii) 6 15 U.S.C. 78f(b).
[sic]. 7 15 U.S.C. 78f(b)(4). 8 15 U.S.C. 78s(b)(3)(A)(ii).

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Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices 13929

communications relating to the I. Self-Regulatory Organization’s utilized. Accordingly, the Exchange
proposed rule change between the Statement of the Terms of Substance of proposes to impose a monthly fee of $40
Commission and any person, other than the Proposed Rule Change per linear foot required to accommodate
those that may be withheld from the The Exchange proposes to modify the an entity’s operations at the Exchange.
public in accordance with the NYSE Amex Options Fee Schedule The Exchange also proposes to change
provisions of 5 U.S.C. 552, will be (‘‘Fee Schedule’’) to amend the fees the name of the fee from ‘‘Floor Booths’’
available for Web site viewing and associated with booth space provided at to ‘‘Booth Premises,’’ to more accurately
printing in the Commission’s Public the Exchange. The Exchange proposes to reflect the way the fees are calculated.
Reference Room, 100 F Street NE., implement the fee change effective 2. Statutory Basis
Washington, DC 20549 on official March 1, 2015. The text of the proposed
business days between the hours of rule change is available on the The Exchange believes that the
10:00 a.m. and 3:00 p.m. Copies of such Exchange’s Web site at www.nyse.com, proposed rule change is consistent with
filing also will be available for at the principal office of the Exchange, Section 6(b) of the Act,4 in general, and
inspection and copying at the principal and at the Commission’s Public furthers the objectives of Sections
office of the Exchange. All comments Reference Room. 6(b)(4) and (5) of the Act,5 in particular,
received will be posted without change; because it provides for the equitable
the Commission does not edit personal II. Self-Regulatory Organization’s allocation of reasonable dues, fees, and
identifying information from Statement of the Purpose of, and other charges among its members,
submissions. You should submit only Statutory Basis for, the Proposed Rule issuers and other persons using its
information that you wish to make Change facilities and does not unfairly
available publicly. All submissions In its filing with the Commission, the discriminate between customers,
should refer to File Number SR–MIAX– self-regulatory organization included issuers, brokers or dealers.
2015–17, and should be submitted on or statements concerning the purpose of, The Exchange believes the proposed
before April 7, 2015. and basis for, the proposed rule change fee change is reasonable, equitable, and
and discussed any comments it received non-discriminatory for the following
For the Commission, by the Division of
on the proposed rule change. The text reasons. First, the proposed Booth
Trading and Markets, pursuant to delegated
authority.9 of those statements may be examined at Premises fee would be determined in an
the places specified in Item IV below. objective manner based on the each
Brent J. Fields,
The Exchange has prepared summaries, linear foot utilized, which encourages
Secretary. the fair and reasonable use of resources
set forth in sections A, B, and C below,
[FR Doc. 2015–06010 Filed 3–16–15; 8:45 am] by the entities subject to the fee.
of the most significant parts of such
BILLING CODE 8011–01–P
statements. Further, because this proposed fee
would be based on clearly defined,
A. Self-Regulatory Organization’s objective parameters, the fee change
SECURITIES AND EXCHANGE Statement of the Purpose of, and would ensure the fair and reasonable
COMMISSION Statutory Basis for, the Proposed Rule use of Exchange resources by enabling
Change the Exchange to recoup for the costs
[Release No. 34–74473; File No. SR– 1. Purpose related to hosting operations on
NYSEMKT–2015–12] Exchange premises (e.g., utilities,
The Exchanges proposes to amend the
routine maintenance, etc.) based on the
Self-Regulatory Organizations; NYSE fees associated with booth space
size of the operation.
MKT LLC; Notice of Filing and provided at the Exchange. The purpose For these reasons, the Exchange
Immediate Effectiveness of Proposed of the proposed fee change is to ensure believes that the proposal is consistent
Rule Change Modifying the NYSE a fair and reasonable use of Exchange with the Act.
Amex Options Fee Schedule To Amend resources by enabling the Exchange to
the Fees Associated With Booth Space charge for and recoup costs related to B. Self-Regulatory Organization’s
Provided at the Exchange hosting operations on Exchange Statement on Burden on Competition
premises (e.g., utilities, routine In accordance with Section 6(b)(8) of
March 11, 2015 maintenance, etc.) based on the size of the Act,6 the Exchange does not believe
Pursuant to Section 19(b)(1) 1 of the the space utilized. The Exchange that the proposed rule change will
Securities Exchange Act of 1934 (the proposes to implement the fee change impose any burden on competition that
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 effective March 1, 2015. is not necessary or appropriate in
notice is hereby given that, on February Currently, the Exchange charges $150 furtherance of the purposes of the Act.
26, 2015, NYSE MKT LLC (the per month for each Floor Booth utilized Because the proposed change results in
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with at the Exchange. Floor Booths are the fair and reasonable use of Exchange
the Securities and Exchange primarily used by floor brokerage firms resources, the Exchange believes this
Commission (the ‘‘Commission’’) the to perform various functions in support change is pro-competitive and would
proposed rule change as described in of trading activities on the Exchange. benefit all market participants.
Items I, II, and III below, which Items The Exchange recently moved the NYSE The Exchange notes that it operates in
have been prepared by the self- Amex Options Trading Floor into a a highly competitive market in which
regulatory organization. The newly renovated space. In connection market participants can readily favor
mstockstill on DSK4VPTVN1PROD with NOTICES

Commission is publishing this notice to with this relocation, the Exchange has competing venues. In such an
solicit comments on the proposed rule re-evaluated how it charges for physical environment, the Exchange must
change from interested persons. space on the Exchange. The Exchange continually review, and consider
believes that a more equitable method adjusting, its fees and credits to remain
9 17 CFR 200.30–3(a)(12). for charging under the new
1 15 U.S.C. 78s(b)(1). configuration is one based on the 4 15 U.S.C. 78f(b).
2 15 U.S.C. 78a. amount of space occupied at the 5 15 U.S.C. 78f(b)(4) and (5).
3 17 CFR 240.19b–4. Exchange, as opposed per Floor Booth(s) 6 15 U.S.C. 78f(b)(8).

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Document Created: 2015-12-18 12:01:20
Document Modified: 2015-12-18 12:01:20

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 13927