80 FR 27212 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the Fees for NYSE MKT Order Imbalances to Add a Late Fee In Connection With Failure To Submit the Non-Display Use Declaration

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 91 (May 12, 2015)

Page Range		27212-27214
FR Document		2015-11374

Federal Register, Volume 80 Issue 91 (Tuesday, May 12, 2015)

[Federal Register Volume 80, Number 91 (Tuesday, May 12, 2015)]
[Notices]
[Pages 27212-27214]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-11374]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74884; File No. SR-NYSEMKT-2015-35]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending the Fees for
NYSE MKT Order Imbalances to Add a Late Fee In Connection With Failure
To Submit the Non-Display Use Declaration

May 6, 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 April 27, 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 amend the fees for NYSE MKT Order
Imbalances to add a late fee in connection with failure to submit the
non-display use declaration, operative on May 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
The Exchange proposes to amend the fees for NYSE MKT Order
Imbalances, as set forth on the NYSE MKT Equities Proprietary Market
Data Fee Schedule (``Fee Schedule''), to add a late fee in connection
with failure to submit an updated non-display use declaration. The
proposed change to the Fee Schedule would be operative on May 1, 2015.
The Exchange established the current fees for non-display services
for NYSE MKT OpenBook, NYSE MKT Trades and NYSE MKT BBO in April 2013
and amended those fees and added non-display fees for NYSE MKT Order
Imbalances in September 2014.\4\ The

[[Page 27213]]

2013 Non-Display Filing established a requirement that data recipients
that receive real-time NYSE MKT market data subject to Non-Display Use
fees submit a declaration with respect to their use of non-display
data.\5\ In connection with the fee changes in the 2014 Non-Display
Filing, the Exchange required data recipients that receive real-time
NYSE MKT market data subject to Non-Display Use fees to complete and
submit an updated Non-Display Use Declaration by September 1, 2014.\6\
The 2014 Non-Display Filing also established that data recipients are
required to submit an updated annual Non-Display Use Declaration by
January 31st of each year beginning in 2016. In addition, if a data
recipient's use of real-time NYSE MKT market data changes at any time
after the data recipient submits a Non-Display Use Declaration, the
data recipient must inform the Exchange of the change by completing and
submitting at the time of the change an updated declaration reflecting
the change of use.
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\4\ See Securities Exchange Act Release Nos. 69285 (April 3,
2013), 78 FR 21172 (April 9, 2013) (SR-NYSEMKT-2013-32) (``2013 Non-
Display Filing'') and 72020 (Sept. 9, 2014), 79 FR 55040 (Sept. 15,
2014) (SR-NYSEMKT-2014-72) (``2014 Non-Display Filing'').
\5\ The non-display fee structure established in the 2013 Non-
Display Filing replaced a monthly reporting obligation with respect
to non-display devices with the requirement to submit the non-
display use declaration. The Exchange also notes that if a data
recipient only subscribes to products for which there are no non-
display usage fees, e.g., NYSE MKT Realtime Reference Prices, then
no declaration is required.
\6\ The current form of the Non-Display Use Declaration
reflected the changes to the non-display fees set forth in the 2014
Non-Display Filing and replaced the NYSE Euronext Non-Display Use
Declaration established in connection with the 2013 Non-Display
Filing.
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The Exchange notes that if a data recipient does not timely submit
a Non-Display Use Declaration, the Exchange does not have up-to-date
information about the data recipient's data use and therefore may not
be charging the correct fees to the data recipient. In order to
correctly assess fees for the non-display use of NYSE MKT Order
Imbalances, the Exchange needs to have current and accurate information
about the use of NYSE MKT Order Imbalances. The failure of data
recipients to submit the Non-Display Use Declaration on time leads to
potentially incorrect billing and administrative burdens, including
tracking and obtaining late Non-Display Use Declarations and correcting
customer records in connection with late Non-Display Use Declarations.
The purpose of the proposed late fee is to incent data recipients to
submit the Non-Display Use Declaration promptly to avoid the
administrative burdens associated with the late submission of Non-
Display Use Declarations.
The Exchange proposes to establish a Non-Display Declaration Late
Fee of $1,000 per month. The proposed fee would be charged to any data
recipient that pays an Access Fee for NYSE MKT Order Imbalances that
has failed to timely complete and submit a Non-Display Use Declaration.
With respect to the Non-Display Use Declaration that was due by
September 1, 2014, the Non-Display Declaration Late Fee would apply to
NYSE MKT Order Imbalances data recipients that have not submitted the
Non-Display Use Declaration by June 30, 2015, and would apply beginning
July 1, 2015 and for each month thereafter until the data recipient has
completed and submitted the Non-Display Use Declaration. With respect
to the annual Non-Display Use Declaration due by January 31st of each
year beginning in 2016, the Non-Display Declaration Late Fee would
apply to data recipients that fail to complete and submit the annual
Non-Display Use Declaration by the January 31st due date, and would
apply beginning February 1st and for each month thereafter until the
data recipient has completed and submitted the annual Non-Display Use
Declaration.\7\ A Non-Display Use Declaration that is clearly
incomplete would not be considered to have been completed and submitted
to the Exchange on time.
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\7\ The Exchange has established the Non-Display Declaration
Late Fee with respect to NYSE MKT OpenBook and in that filing
adopted endnote 2, which specifies the effective dates for the Non-
Display Declaration Late Fee as described above. See SR-NYSEMKT-
2015-34.
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2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of section 6 of the Act,\8\ in general, and
sections 6(b)(4) and 6(b)(5) of the Act,\9\ in particular, in that it
provides an equitable allocation of reasonable fees among users and
recipients of the data and is not designed to permit unfair
discrimination among customers, issuers, and brokers.
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\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4), (5).
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The Exchange believes that it is reasonable to impose a late fee in
connection with the submission of the Non-Display Use Declaration. In
order to correctly assess fees for the non-display use of NYSE MKT
Order Imbalances, the Exchange needs to have current and accurate
information about the use of NYSE MKT Order Imbalances. The failure of
data recipients to submit the Non-Display Use Declaration on time leads
to potentially incorrect billing and administrative burdens, including
tracking and obtaining late Non-Display Use Declarations and correcting
and following up on payments owed in connection with late Non-Display
Use Declarations. The purpose of the late fee is to incent data
recipients to submit the Non-Display Use Declaration promptly to avoid
the administrative burdens associated with the late submission of Non-
Display Use Declarations. The Non-Display Declaration Late Fee is
equitable and not unfairly discriminatory because it will apply to all
data recipients that choose to subscribe to the NYSE MKT Order
Imbalances feed.
The Non-Display Declaration Late Fee is also consistent with
similar pricing adopted in 2013 by the Consolidated Tape Association
(``CTA'').\10\ The CTA imposes a monthly fee of $2,500 for each of
Network A and Network B for firms that fail to comply with their
reporting obligations in a timely manner.
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\10\ See Securities Exchange Act Release No. 70010 (July 19,
2013), 78 FR 44984 (July 25, 2013)(SR-CTA/CQ-2013-04).
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B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. An exchange's ability to
price its proprietary market data feed products is constrained by
actual competition for the sale of proprietary market data products,
the joint product nature of exchange platforms, and the existence of
alternatives to the Exchange's proprietary data. In addition to being
able to choose which proprietary data products (if any) to use and how
to use them, a user can avoid the late fees that are the subject of
this filing entirely by simply complying with the requisite deadlines.
In setting the proposed fees, the Exchange considered the
competitiveness of the market for proprietary data and all of the
implications of that competition. The Exchange believes that it has
considered all relevant factors and has not considered irrelevant
factors in order to establish fair, reasonable, and not unreasonably
discriminatory fees and an equitable allocation of fees among all
users. The existence of fierce competition to sell proprietary data
products and for order flow, as well as numerous alternatives to the
Exchange's products, including proprietary data from other sources,
ensures that the Exchange cannot set unreasonable fees, or fees that
are unreasonably

[[Page 27214]]

discriminatory, when vendors and subscribers can elect these
alternatives or choose not to purchase a specific proprietary data
product if the attendant fees are not justified by the returns that any
particular vendor or data recipient would achieve through the purchase
(the returns on use being a particularly important aspect of non-
display uses of proprietary data).

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) \11\ of the Act and subparagraph (f)(2) of Rule
19b-4 \12\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 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) \13\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\13\ 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 rule-comments@sec.gov. Please include
File Number SR-NYSEMKT-2015-35 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-2015-35. 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-2015-35 and should be submitted on or before
June 2, 2015.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-11374 Filed 5-11-15; 8:45 am]
BILLING CODE 8011-01-P

27212 Federal Register / Vol. 80, No. 91 / Tuesday, May 12, 2015 / Notices

important aspect of non-display uses of only one method. The Commission will Securities and Exchange Commission
proprietary data). post all comments on the Commission’s (the ‘‘Commission’’) the proposed rule
Internet Web site (http://www.sec.gov/ change as described in Items I, II, and
C. Self-Regulatory Organization’s
rules/sro.shtml). Copies of the III below, which Items have been
Statement on Comments on the
submission, all subsequent prepared by the self-regulatory
Proposed Rule Change Received From amendments, all written statements organization. The Commission is
Members, Participants, or Others with respect to the proposed rule publishing this notice to solicit
No written comments were solicited change that are filed with the comments on the proposed rule change
or received with respect to the proposed Commission, and all written from interested persons.
rule change. communications relating to the
I. Self-Regulatory Organization’s
proposed rule change between the
III. Date of Effectiveness of the Statement of the Terms of Substance of
Commission and any person, other than
Proposed Rule Change and Timing for the Proposed Rule Change
those that may be withheld from the
Commission Action The Exchange proposes to amend the
public in accordance with the
The foregoing rule change is effective provisions of 5 U.S.C. 552, will be fees for NYSE MKT Order Imbalances to
upon filing pursuant to Section available for Web site viewing and add a late fee in connection with failure
19(b)(3)(A) 11 of the Act and printing in the Commission’s Public to submit the non-display use
subparagraph (f)(2) of Rule 19b–4 12 Reference Room, 100 F Street NE., declaration, operative on May 1, 2015.
thereunder, because it establishes a due, Washington, DC 20549 on official The text of the proposed rule change is
fee, or other charge imposed by the business days between the hours of available on the Exchange’s Web site at
Exchange. 10:00 a.m. and 3:00 p.m. Copies of the www.nyse.com, at the principal office of
At any time within 60 days of the filing will also be available for the Exchange, and at the Commission’s
filing of such proposed rule change, the inspection and copying at the NYSE’s Public Reference Room.
Commission summarily may principal office and on its Internet Web II. Self-Regulatory Organization’s
temporarily suspend such rule change if site at www.nyse.com. All comments Statement of the Purpose of, and
it appears to the Commission that such received will be posted without change; Statutory Basis for, the Proposed Rule
action is necessary or appropriate in the the Commission does not edit personal Change
public interest, for the protection of identifying information from
investors, or otherwise in furtherance of submissions. You should submit only In its filing with the Commission, the
the purposes of the Act. If the information that you wish to make self-regulatory organization included
Commission takes such action, the available publicly. All submissions statements concerning the purpose of,
Commission shall institute proceedings should refer to File Number SR– and basis for, the proposed rule change
under Section 19(b)(2)(B) 13 of the Act to NYSEMKT–2015–36 and should be and discussed any comments it received
determine whether the proposed rule submitted on or before June 2, 2015. on the proposed rule change. The text
change should be approved or of those statements may be examined at
For the Commission, by the Division of the places specified in Item IV below.
disapproved. Trading and Markets, pursuant to delegated
authority.14
The Exchange has prepared summaries,
IV. Solicitation of Comments set forth in sections A, B, and C below,
Robert W. Errett,
Interested persons are invited to of the most significant parts of such
Deputy Secretary. statements.
submit written data, views, and [FR Doc. 2015–11373 Filed 5–11–15; 8:45 am]
arguments concerning the foregoing, A. Self-Regulatory Organization’s
BILLING CODE 8011–01–P
including whether the proposed rule Statement of the Purpose of, and the
change is consistent with the Act. Statutory Basis for, the Proposed Rule
Comments may be submitted by any of SECURITIES AND EXCHANGE Change
the following methods: COMMISSION 1. Purpose
Electronic Comments [Release No. 34–74884; File No. SR– The Exchange proposes to amend the
• Use the Commission’s Internet NYSEMKT–2015–35] fees for NYSE MKT Order Imbalances,
comment form (http://www.sec.gov/ as set forth on the NYSE MKT Equities
Self-Regulatory Organizations; NYSE
rules/sro.shtml); or Proprietary Market Data Fee Schedule
MKT LLC; Notice of Filing and
• Send an email to rule-comments@ (‘‘Fee Schedule’’), to add a late fee in
Immediate Effectiveness of Proposed
sec.gov. Please include File Number SR– connection with failure to submit an
Rule Change Amending the Fees for
NYSEMKT–2015–36 on the subject line. updated non-display use declaration.
NYSE MKT Order Imbalances to Add a
The proposed change to the Fee
Paper Comments Late Fee In Connection With Failure To
Schedule would be operative on May 1,
• Send paper comments in triplicate Submit the Non-Display Use
2015.
to Brent J. Fields, Secretary, Securities Declaration The Exchange established the current
and Exchange Commission, 100 F Street May 6, 2015. fees for non-display services for NYSE
NE., Washington, DC 20549–1090. Pursuant to section 19(b)(1) 1 of the MKT OpenBook, NYSE MKT Trades
All submissions should refer to File Securities Exchange Act of 1934 (the and NYSE MKT BBO in April 2013 and
Number SR–NYSEMKT–2015–36. This ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 amended those fees and added non-
mstockstill on DSK4VPTVN1PROD with NOTICES

file number should be included on the notice is hereby given that, on April 27, display fees for NYSE MKT Order
subject line if email is used. To help the 2015, NYSE MKT LLC (the ‘‘Exchange’’ Imbalances in September 2014.4 The
Commission process and review your or ‘‘NYSE MKT’’) filed with the
4 See Securities Exchange Act Release Nos. 69285
comments more efficiently, please use
14 17
(April 3, 2013), 78 FR 21172 (April 9, 2013) (SR–
CFR 200.30–3(a)(12). NYSEMKT–2013–32) (‘‘2013 Non-Display Filing’’)
11 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1).
and 72020 (Sept. 9, 2014), 79 FR 55040 (Sept. 15,
12 17 CFR 240.19b–4(f)(2). 2 15 U.S.C. 78a.
2014) (SR–NYSEMKT–2014–72) (‘‘2014 Non-
13 15 U.S.C. 78s(b)(2)(B). 3 17 CFR 240.19b–4. Display Filing’’).

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27214 Federal Register / Vol. 80, No. 91 / Tuesday, May 12, 2015 / Notices

discriminatory, when vendors and and Exchange Commission, 100 F Street ‘‘Act’’),1 and Rule 19b–4 thereunder,2
subscribers can elect these alternatives NE., Washington, DC 20549–1090. notice is hereby given that on May 5,
or choose not to purchase a specific All submissions should refer to File 2015, C2 Options Exchange,
proprietary data product if the attendant Number SR–NYSEMKT–2015–35. This Incorporated (the ‘‘Exchange’’ or ‘‘C2’’)
fees are not justified by the returns that file number should be included on the filed with the Securities and Exchange
any particular vendor or data recipient subject line if email is used. To help the Commission (the ‘‘Commission’’) the
would achieve through the purchase Commission process and review your proposed rule change as described in
(the returns on use being a particularly comments more efficiently, please use Items I and II below, which Items have
important aspect of non-display uses of only one method. The Commission will been prepared by the Exchange. The
proprietary data). post all comments on the Commission’s Commission is publishing this notice to
Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule
C. Self-Regulatory Organization’s
rules/sro.shtml). Copies of the change from interested persons.
Statement on Comments on the
Proposed Rule Change Received From submission, all subsequent I. Self-Regulatory Organization’s
Members, Participants, or Others amendments, all written statements Statement of the Terms of Substance of
with respect to the proposed rule the Proposed Rule Change
No written comments were solicited change that are filed with the
or received with respect to the proposed Commission, and all written The Exchange proposes to adopt a
rule change. communications relating to the rule relating to the effectiveness of a
proposed rule change between the Permit Holder. The text of the proposed
III. Date of Effectiveness of the
Commission and any person, other than rule change is available on the
Proposed Rule Change and Timing for
those that may be withheld from the Exchange’s Web site (http://
Commission Action
public in accordance with the www.cboe.com/AboutCBOE/
The foregoing rule change is effective provisions of 5 U.S.C. 552, will be CBOELegalRegulatoryHome.aspx), at
upon filing pursuant to section available for Web site viewing and the Exchange’s Office of the Secretary,
19(b)(3)(A) 11 of the Act and printing in the Commission’s Public and at the Commission’s Public
subparagraph (f)(2) of Rule 19b–4 12 Reference Room, 100 F Street NE., Reference Room.
thereunder, because it establishes a due, Washington, DC 20549 on official
fee, or other charge imposed by the II. Self-Regulatory Organization’s
business days between the hours of Statement of the Purpose of, and
Exchange. 10:00 a.m. and 3:00 p.m. Copies of the
At any time within 60 days of the Statutory Basis for, the Proposed Rule
filing will also be available for Change
filing of such proposed rule change, the inspection and copying at the NYSE’s
Commission summarily may principal office and on its Internet Web In its filing with the Commission, the
temporarily suspend such rule change if site at www.nyse.com. All comments Exchange included statements
it appears to the Commission that such received will be posted without change; concerning the purpose of and basis for
action is necessary or appropriate in the the Commission does not edit personal the proposed rule change and discussed
public interest, for the protection of identifying information from any comments it received on the
investors, or otherwise in furtherance of submissions. You should submit only proposed rule change. The text of these
the purposes of the Act. If the information that you wish to make statements may be examined at the
Commission takes such action, the available publicly. All submissions places specified in Item IV below. The
Commission shall institute proceedings should refer to File Number SR– Exchange has prepared summaries, set
under section 19(b)(2)(B) 13 of the Act to NYSEMKT–2015–35 and should be forth in sections A, B, and C below, of
determine whether the proposed rule submitted on or before June 2, 2015. the most significant aspects of such
change should be approved or statements.
disapproved. For the Commission, by the Division of
Trading and Markets, pursuant to delegated A. Self-Regulatory Organization’s
IV. Solicitation of Comments authority.14 Statement of the Purpose of, and
Interested persons are invited to Robert W. Errett, Statutory Basis for, the Proposed Rule
submit written data, views, and Deputy Secretary. Change
arguments concerning the foregoing, [FR Doc. 2015–11374 Filed 5–11–15; 8:45 am] 1. Purpose
including whether the proposed rule BILLING CODE 8011–01–P
The Exchange proposes to adopt a
change is consistent with the Act.
rule governing the effectiveness of
Comments may be submitted by any of
SECURITIES AND EXCHANGE Permit Holder status. In particular, the
the following methods:
COMMISSION Exchange proposes to add language to
Electronic Comments its rules to codify the requirement that
[Release No. 34–74888; File No. SR–C2– each applicant, to be a Permit Holder,
• Use the Commission’s Internet 2015–011]
comment form (http://www.sec.gov/ must become effective in that status
rules/sro.shtml); or Self-Regulatory Organizations; C2 within 90 days of the date of the
• Send an email to rule-comments@ Options Exchange, Incorporated; applicant’s approval. The Exchange also
sec.gov. Please include File Number SR– Notice of Filing and Immediate proposes to clarify that a Permit Holder
NYSEMKT–2015–35 on the subject line. Effectiveness of a Proposed Rule shall become effective upon (i)
mstockstill on DSK4VPTVN1PROD with NOTICES

Change Relating to the Effectiveness satisfying applicable requirements to
Paper Comments obtain a Trading Permit and (ii) the
of a Permit Holder
• Send paper comments in triplicate release of a Trading Permit to that
to Brent J. Fields, Secretary, Securities May 6, 2015. Permit Holder by the Registration
Pursuant to Section 19(b)(1) of the Services Department (‘‘RSD’’).
11 15 U.S.C. 78s(b)(3)(A). Securities Exchange Act of 1934 (the
12 17 CFR 240.19b–4(f)(2). 1 15 U.S.C. 78s(b)(1).
13 15 U.S.C. 78s(b)(2)(B). 14 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.

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Document Created: 2015-12-16 07:54:52
Document Modified: 2015-12-16 07:54:52

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 27212