80 FR 13929 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Modifying the NYSE Amex Options Fee Schedule To Amend the Fees Associated With Booth Space Provided at the Exchange

SECURITIES AND EXCHANGE COMMISSION

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

Page Range		13929-13930
FR Document		2015-06016
Federal Register, Volume 80 Issue 51 (Tuesday, March 17, 2015)
[Federal Register Volume 80, Number 51 (Tuesday, March 17, 2015)]
[Notices]
[Pages 13929-13930]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-06016]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74473; File No. SR-NYSEMKT-2015-12]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Modifying the NYSE Amex 
Options Fee Schedule To Amend the Fees Associated With Booth Space 
Provided at the Exchange

March 11, 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 26, 2015, NYSE MKT LLC (the ``Exchange'' or 
``NYSE MKT'') 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to modify the NYSE Amex Options Fee Schedule 
(``Fee Schedule'') to amend the fees associated with booth space 
provided at the Exchange. The Exchange proposes to implement the fee 
change effective March 1, 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 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 Exchanges proposes to amend the fees associated with booth 
space provided at the Exchange. The purpose of the proposed fee change 
is to ensure a fair and reasonable use of Exchange resources by 
enabling the Exchange to charge for and recoup costs related to hosting 
operations on Exchange premises (e.g., utilities, routine maintenance, 
etc.) based on the size of the space utilized. The Exchange proposes to 
implement the fee change effective March 1, 2015.
    Currently, the Exchange charges $150 per month for each Floor Booth 
utilized at the Exchange. Floor Booths are primarily used by floor 
brokerage firms to perform various functions in support of trading 
activities on the Exchange. The Exchange recently moved the NYSE Amex 
Options Trading Floor into a newly renovated space. In connection with 
this relocation, the Exchange has re-evaluated how it charges for 
physical space on the Exchange. The Exchange believes that a more 
equitable method for charging under the new configuration is one based 
on the amount of space occupied at the Exchange, as opposed per Floor 
Booth(s) utilized. Accordingly, the Exchange proposes to impose a 
monthly fee of $40 per linear foot required to accommodate an entity's 
operations at the Exchange. The Exchange also proposes to change the 
name of the fee from ``Floor Booths'' to ``Booth Premises,'' to more 
accurately reflect the way the fees are calculated.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\4\ in general, and furthers the 
objectives of Sections 6(b)(4) and (5) of the Act,\5\ 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.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4) and (5).
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    The Exchange believes the proposed fee change is reasonable, 
equitable, and non-discriminatory for the following reasons. First, the 
proposed Booth Premises fee would be determined in an objective manner 
based on the each linear foot utilized, which encourages the fair and 
reasonable use of resources by the entities subject to the fee. 
Further, because this proposed fee would be based on clearly defined, 
objective parameters, the fee change would ensure the fair and 
reasonable use of Exchange resources by enabling the Exchange to recoup 
for the costs related to hosting operations on Exchange premises (e.g., 
utilities, routine maintenance, etc.) based on the size of the 
operation.
    For these reasons, the Exchange believes that the proposal is 
consistent with the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\6\ 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. Because the proposed change results in the fair 
and reasonable use of Exchange resources, the Exchange believes this 
change is pro-competitive and would benefit all market participants.
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    \6\ 15 U.S.C. 78f(b)(8).
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    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

[[Page 13930]]

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.

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) \7\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \8\ thereunder, because it establishes a due, fee, or other charge 
imposed by the Exchange.
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    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(2).
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    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) \9\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \9\ 15 U.S.C. 78s(b)(2)(B).
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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 [email protected]. Please include 
File Number SR-NYSEMKT-2015-12 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-NYSEMKT-2015-12. 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-NYSEMKT-2015-12, and should be submitted 
on or before April 7, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-06016 Filed 3-16-15; 8:45 am]
 BILLING CODE 8011-01-P
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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13930 Federal Register / Vol. 80, No. 51 / Tuesday, March 17, 2015 / Notices

competitive with other exchanges. For file number should be included on the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
the reasons described above, the subject line if email is used. notice is hereby given that on March 2,
Exchange believes that the proposed To help the Commission process and 2015, BOX Options Exchange LLC (the
rule change reflects this competitive review your comments more efficiently, ‘‘Exchange’’) filed with the Securities
environment. please use only one method. The and Exchange Commission
Commission will post all comments on (‘‘Commission’’) the proposed rule
C. Self-Regulatory Organization’s change as described in Items I and II
Statement on Comments on the the Commission’s Internet Web site
(http://www.sec.gov/rules/sro.shtml). below, which Items have been prepared
Proposed Rule Change Received From by the self-regulatory organization. The
Members, Participants, or Others Copies of the submission, all subsequent
amendments, all written statements Commission is publishing this notice to
No written comments were solicited with respect to the proposed rule solicit comments on the proposed rule
or received with respect to the proposed change that are filed with the change from interested persons.
rule change. Commission, and all written I. Self-Regulatory Organization’s
III. Date of Effectiveness of the communications relating to the Statement of the Terms of the Substance
Proposed Rule Change and Timing for proposed rule change between the of the Proposed Rule Change
Commission Action Commission and any person, other than
those that may be withheld from the The Exchange proposes to amend
The foregoing rule change is effective public in accordance with the BOX Rule 7170 (Obvious and
upon filing pursuant to Section provisions of 5 U.S.C. 552, will be Catastrophic Errors) to provide for new
19(b)(3)(A) 7 of the Act and available for Web site viewing and procedures to account for erroneous
subparagraph (f)(2) of Rule 19b–4 8 printing in the Commission’s Public trades occurring from disruptions and/
thereunder, because it establishes a due, Reference Room, 100 F Street NE., or malfunctions of Exchange systems.
fee, or other charge imposed by the The text of the proposed rule change is
Washington, DC 20549, on official
Exchange. available from the principal office of the
business days between the hours of
At any time within 60 days of the Exchange, at the Commission’s Public
10:00 a.m. and 3:00 p.m. Copies of the
filing of such proposed rule change, the Reference Room and also on the
filing will also be available for
Commission summarily may Exchange’s Internet Web site at http://
inspection and copying at the NYSE’s
temporarily suspend such rule change if boxexchange.com.
principal office and on its Internet Web
it appears to the Commission that such site at www.nyse.com. All comments II. Self-Regulatory Organization’s
action is necessary or appropriate in the received will be posted without change; Statement of the Purpose of, and
public interest, for the protection of the Commission does not edit personal Statutory Basis for, the Proposed Rule
investors, or otherwise in furtherance of identifying information from Change
the purposes of the Act. If the submissions. You should submit only
Commission takes such action, the In its filing with the Commission, the
information that you wish to make self-regulatory organization included
Commission shall institute proceedings available publicly. All submissions
under Section 19(b)(2)(B) 9 of the Act to statements concerning the purpose of,
should refer to File Number SR– and basis for, the proposed rule change
determine whether the proposed rule NYSEMKT–2015–12, and should be
change should be approved or and discussed any comments it received
submitted on or before April 7, 2015. on the proposed rule change. The text
disapproved.
For the Commission, by the Division of of these statements may be examined at
IV. Solicitation of Comments Trading and Markets, pursuant to delegated the places specified in Item IV below.
Interested persons are invited to authority.10 The self-regulatory organization has
submit written data, views, and Brent J. Fields, prepared summaries, set forth in
arguments concerning the foregoing, Secretary. Sections A, B, and C below, of the most
including whether the proposed rule [FR Doc. 2015–06016 Filed 3–16–15; 8:45 am] significant aspects of such statements.
change is consistent with the Act. BILLING CODE 8011–01–P A. Self-Regulatory Organization’s
Comments may be submitted by any of Statement of the Purpose of, and
the following methods: Statutory Basis for, the Proposed Rule
SECURITIES AND EXCHANGE Change
Electronic Comments COMMISSION
• Use the Commission’s Internet 1. Purpose
comment form (http://www.sec.gov/ [Release No. 34–74474; File No. SR–BOX– The Exchange proposes to amend
rules/sro.shtml); or 2015–15] BOX Rule 7170 to provide for new
• Send an email to rule- procedures to account for erroneous
comments@sec.gov. Please include File Self-Regulatory Organizations; BOX trades occurring from disruptions and/
Number SR–NYSEMKT–2015–12 on the Options Exchange LLC; Notice of or malfunctions of Exchange systems.
subject line. Filing and Immediate Effectiveness of This is a competitive filing that is based
a Proposed Rule Change To Amend on the rules of NYSE MKT LLC (‘‘NYSE
Paper Comments BOX Rule 7170 To Provide for New MKT’’).3
• Send paper comments in triplicate Procedures To Account for Erroneous Proposed new Rule 7170(m) would
to Secretary, Securities and Exchange Trades Occurring From Disruptions provide that any transactions that arise
mstockstill on DSK4VPTVN1PROD with NOTICES

Commission, 100 F Street NE., and/or Malfunctions of Exchange
Washington, DC 20549–1090. Systems 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
All submissions should refer to File
March 11, 2015. 3 See NYSE MKT Rule 975NY. The proposed rule
Number SR–NYSEMKT–2015–12. This
Pursuant to Section 19(b)(1) of the change is also substantially similar to NYSE Arca,
Securities Exchange Act of 1934 (the Inc. (‘‘NYSE Arca’’) Rule 6.89, Chicago Board
7 15 U.S.C. 78s(b)(3)(A). Options Exchange, Inc. (‘‘CBOE’’) Rule 6.25 and is
8 17 CFR 240.19b–4(f)(2). similar to NASDAQ OMX PHLX, LLC (‘‘Phlx’’) Rule
9 15 U.S.C. 78s(b)(2)(B). 10 17 CFR 200.30–3(a)(12). 1092(c)(ii)(A).

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Document Created: 2015-12-18 12:01:32
Document Modified: 2015-12-18 12:01:32
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 13929