80 FR 28328 - Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Y-Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 95 (May 18, 2015)
Federal Register Volume 80, Issue 95 (May 18, 2015)
| Page Range | 28328-28331 | |
| FR Document | 2015-11879 |
[Federal Register Volume 80, Number 95 (Monday, May 18, 2015)] [Notices] [Pages 28328-28331] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-11879] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-74939; File No. SR-BYX-2015-24] Self-Regulatory Organizations; BATS Y-Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of BATS Y-Exchange, Inc. May 12, 2015. Pursuant to 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 May 1, 2015, BATS Y-Exchange, Inc. (the ``Exchange'' or ``BYX'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other [[Page 28329]] charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 15 U.S.C. 78s(b)(3)(A)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members \5\ and non-members of the Exchange pursuant to BYX Rules 15.1(a) and (c). Changes to the fee schedule pursuant to this proposal are effective upon filing. --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.batstrading.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 Exchange 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 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 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 modify its fee schedule in order to: (1) Amend the rebate associated with removing liquidity from the Exchange; (2) eliminate the NBBO Setter Tier; and (3) simplify pricing related to Physical Connection Fees. Standard Remove Rebate The Exchange currently provides a rebate of $0.0016 per share for Members' orders that remove liquidity from the Exchange, which includes those orders that yield fee codes BB, N, and W. The Exchange proposes to amend its Fee Schedule to decrease the rebate for orders that remove liquidity to $0.0015 per share. NBBO Setter Tier The Exchange currently offers an additional incentive per share for orders from Members that have an ADAV \6\ equal to or greater than 0.30% of the TCV \7\ and that add liquidity on the Exchange and establish a new NBBO. Specifically, the Exchange provides an additional rebate of $0.0001 per share for such orders. The Exchange is proposing to eliminate this additional incentive because it has not achieved the desired effect, despite being designed to incentivize Members to add liquidity that sets the NBBO. As such, the Exchange is proposing to delete the NBBO Setter Tier in footnote 3 and replace it with ``(Reserved.)'' The Exchange is also proposing to delete each reference to footnote 3 in the Fee Codes and Associated Fees section of the fee schedule. --------------------------------------------------------------------------- \6\ ``ADAV'' means average daily volume calculated as the number of shares added per day. \7\ ``TCV'' means total consolidated volume calculated as the volume reported by all exchanges to the consolidated transaction reporting plan for the month for which the fees apply. --------------------------------------------------------------------------- Physical Connection Fees The Exchange currently maintains a presence in two third-party data centers: (i) The primary data center where the Exchange's business is primarily conducted on a daily basis, and (ii) a secondary data center, which is predominantly maintained for business continuity purposes. The Exchange currently assesses fees to Members and non-Members of $1,000 for any 1G physical port connection at either data center and of $2,500 for any 10G physical port connection at either data center. The Exchange also provides market participants with the ability to access the Exchange's network through another data center entry point, or Point of Presence (``PoP''), at a data center other than the Exchange's primary or secondary data center.\8\ The Exchange currently charges $2,000 for any 1G physical port to connect to the Exchange in any data center where the Exchange maintains a PoP other than the Exchange's primary or secondary data center and $5,000 per month for each single physical 10G port provided by the Exchange to any Member or non-member in any data center where the Exchange maintains a PoP other than the Exchange's primary or secondary data center. --------------------------------------------------------------------------- \8\ See Securities Exchange Act Release No. 74050 (January 14, 2015), 80 FR 2989 (January 21, 2015) (SR-BYX-2015-01) (Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for use of BATS Y-Exchange, Inc.). --------------------------------------------------------------------------- The Exchange proposes to simplify its pricing structure by imposing a uniform rate for physical ports regardless of the data center in which the port connection is made. Specifically, the Exchange proposes to charge $1,000 per month for all 1G physical port connections and $2,500 per month for all 10G physical ports in any location where the Exchange offers the ability to connect to Exchange systems, including the secondary data center and any PoP location. In conjunction with the proposed change, the Exchange also proposes minor changes to re-format the chart that sets forth physical connection fees and also proposes to re-locate such chart and the accompanying text such that physical connection fees directly follow logical port fees. Implementation Date The Exchange proposes to implement the amendments to its fee schedule effective immediately. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\9\ in general, and furthers the objectives of Section 6(b)(4),\10\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange also notes that it operates in a highly- competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive. The Exchange believes that the proposed rates are equitable and non-discriminatory in that they apply uniformly to all Members. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f. \10\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- Standard Remove Rebate The Exchange believes that its proposal to decrease the standard rebate for orders that remove liquidity and yield fee codes BB, N, or W represents an equitable allocation of reasonable dues, fees, and other charges among Members and other persons using its facilities because it will reduce costs for the Exchange, thereby allowing the Exchange to apply those costs elsewhere to the benefit of all Members. While adjusting the Exchange's rebate of $0.0016 per share to remove liquidity to $0.0015 per share will obviously result in a reduction in rebates paid per share to Members, the Exchange believes that [[Page 28330]] any potential negative impact of this change will be outweighed by the Exchange's ability to apply the cost savings to other areas of the business, including enhanced rebates, reduced fees, and improved technology on the Exchange. The Exchange also believes that the proposed fee change is non-discriminatory because it would apply uniformly to all Members. NBBO Setter Tier The Exchange believes that the proposed elimination of the NBBO Setter Tier represents an equitable allocation of reasonable dues, fees, and other charges among Members and other persons using its facilities because, as described above, the reduced fees offered by this tier is not affecting Members' behavior in the manner originally conceived by the Exchange. While the Exchange acknowledges the benefit of Members entering orders that set the NBBO, the Exchange has generally determined that it is providing additional rebates for liquidity that would be added on the Exchange regardless of whether the tier existed. By reducing these fees, the Exchange is not only reducing the fees it receives for orders that would set the NBBO without being incentivized to do so, but also missing out on the opportunity to offer other rebates or reduced fees that could incentivize other behavior that would enhance market quality on the Exchange, which would benefit all Members. As such, the Exchange also believes that the proposed elimination of the NBBO Setter Tier would be non-discriminatory in that it currently applies equally to all Members and, upon elimination, would no longer be available to any Members. Further, it will allow the Exchange to explore other ways in which it may enhance market quality for all Members. Physical Connection Fees The Exchange believes that providing uniform rates for all 1G and 10G physical connections to Exchange is reasonable because such change represents a reduction in fees for any Member that connects to the Exchange at a PoP location and no change to fees for any Member located in the Exchange's primary or secondary data center. The Exchange also believes that the proposal is equitably allocated and not unreasonably discriminatory because, as proposed, market participants will be able to access the Exchange at uniform rates regardless of whether such access is at the Exchange's primary or secondary data center location or another location where the Exchange offers access. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe its proposed amendments to its fee schedule would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Standard Remove Rebate The Exchange does not believe that its proposal to amend the standard rebate for orders that remove liquidity from the Exchange would burden competition, but, rather, enhance the Exchange's ability to compete with other market centers. As described above, the Exchange believes that the reduced rebate would allow the Exchange opportunities to use the cost savings in order to enhance other components of the Exchange, including offering enhanced rebates, reduced fees, and improved technology on the Exchange, which the Exchange believes would better equip it to compete with other market centers. NBBO Setter Tier The Exchange does not believe that its proposal to eliminate the NBBO Setter Tier would burden competition, but, rather, enhance the Exchange's ability to compete with other market centers. As described above, the Exchange believes that it is offering a reduction in fees for orders that would be submitted to the Exchange without the reduced fee, which prevents the Exchange from being able to offer other rebates or reduced fees that might be able to enhance market quality to the benefit of all Members. As such, eliminating the NBBO Setter Tier will allow the Exchange other opportunities to enhance market quality on the Exchange and ultimately, better compete with other market centers. Physical Connection Fees The Exchange does not believe that the proposed change to physical port fees represents a significant departure from previous pricing offered by the Exchange or pricing offered by the Exchange's competitors. Rather, as described above, the Exchange is simply normalizing its fees for physical access to the Exchange regardless of the location where a physical connection is made. The offering is consistent with the Exchange's own economic incentives to facilitate as many market participants as possible in connecting to its market. Accordingly, the Exchange does not believe that the proposed change will impair the ability of Members or competing venues to maintain their competitive standing in the financial markets. The Exchange does not believe that its proposal would burden intramarket competition because the fees for physical connections would apply uniformly to all Members. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any written comments from members or other interested parties. 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) of the Act \11\ and paragraph (f) of Rule 19b-4 thereunder.\12\ 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. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(3)(A). \12\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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 rule-comments@sec.gov. Please include File Number SR-BYX-2015-24 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-BYX-2015-24. 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 [[Page 28331]] amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for inspection and copying at the principal offices 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-BYX-2015-24, and should be submitted on or before June 8, 2015. June 5, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-11879 Filed 5-15-15; 8:45 am] BILLING CODE 8011-01-P
![28328 Federal Register / Vol. 80, No. 95 / Monday, May 18, 2015 / Notices
requires, among other things, that the date of the filing. However, pursuant rules/sro.shtml). Copies of the
FINRA rules must be designed to to Rule 19b–4(f)(6)(iii),16 the submission, all subsequent
prevent fraudulent and manipulative Commission may designate a shorter amendments, all written statements
acts and practices, to promote just and time if such action is consistent with the with respect to the proposed rule
equitable principles of trade, and, in protection of investors and the public change that are filed with the
general, to protect investors and the interest. Commission, and all written
public interest. FINRA also believes that FINRA has asked the Commission to communications relating to the
the proposed rule change is consistent waive the 30-day operative delay so that proposed rule change between the
with the provisions of Section the proposal may become operative Commission and any person, other than
15A(b)(11) of the Act.12 Section immediately upon filing. The those that may be withheld from the
15A(b)(11) requires that FINRA rules Commission believes that waiver of the public in accordance with the
include provisions governing the form operative delay is consistent with the provisions of 5 U.S.C. 552, will be
and content of quotations relating to protection of investors and the public available for Web site viewing and
securities sold otherwise than on a interest because such waiver will allow printing in the Commission’s Public
national securities exchange which may the pilot program to continue without Reference Room, 100 F St. NE.,
be distributed or published by any interruption. Therefore, the Commission Washington DC 20549, on official
member or person associated with a designates the proposal as operative business days between the hours of
member, and the persons to whom such upon filing.17 10:00 a.m. and 3:00 p.m. Copies of such
quotations may be supplied. At any time within 60 days of the filing also will be available for
FINRA believes that the extension of filing of the proposed rule change, the inspection and copying at the principal
the Tier Size Pilot for an additional Commission summarily may office of FINRA. All comments received
three months is consistent with the Act temporarily suspend such rule change if will be posted without change; the
in that it would provide the it appears to the Commission that such Commission does not edit personal
Commission and FINRA with additional action is necessary or appropriate in the identifying information from
time to determine whether the pilot tiers public interest, for the protection of submissions. You should submit only
should be made permanent. investors, or otherwise in furtherance of information that you wish to make
the purposes of the Act. If the available publicly. All submissions
B. Self-Regulatory Organization’s Commission takes such action, the
Statement on Burden on Competition should refer to File Number SR–FINRA–
Commission shall institute proceedings 2015–010, and should be submitted on
FINRA does not believe that the to determine whether the proposed rule or before June 8, 2015.
proposed rule change will result in any should be approved or disapproved. For the Commission, by the Division of
burden on competition that is not Trading and Markets, pursuant to delegated
necessary or appropriate in furtherance IV. Solicitation of Comments
authority.18
of the purposes of the Act. Interested persons are invited to
Robert W. Errett,
submit written data, views, and
C. Self-Regulatory Organization’s arguments concerning the foregoing, Deputy Secretary.
Statement on Comments on the including whether the proposed rule [FR Doc. 2015–11869 Filed 5–15–15; 8:45 am]
Proposed Rule Change Received From change is consistent with the Act. BILLING CODE 8011–01–P
Members, Participants, or Others Comments may be submitted by any of
Written comments were neither the following methods:
solicited nor received. SECURITIES AND EXCHANGE
Electronic Comments COMMISSION
III. Date of Effectiveness of the • Use the Commission’s Internet
Proposed Rule Change and Timing for [Release No. 34–74939; File No. SR–BYX–
comment form (http://www.sec.gov/ 2015–24]
Commission Action rules/sro.shtml); or
Because the foregoing proposed rule • Send an email to rule- Self-Regulatory Organizations; BATS
change does not: (i) Significantly affect comments@sec.gov. Please include File Y-Exchange, Inc.; Notice of Filing and
the protection of investors or the public Number SR–FINRA–2015–010 on the Immediate Effectiveness of a Proposed
interest; (ii) impose any significant subject line. Rule Change Related to Fees for Use
burden on competition; and (iii) become of BATS Y-Exchange, Inc.
Paper Comments
operative for 30 days from the date on
which it was filed, or such shorter time • Send paper comments in triplicate May 12, 2015.
to Brent J. Fields, Secretary, Securities Pursuant to Section 19(b)(1) of the
as the Commission may designate, it has
and Exchange Commission, 100 F Street Securities Exchange Act of 1934
become effective pursuant to Section
NE., Washington, DC 20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2
19(b)(3)(A) of the Act 13 and Rule 19b–
All submissions should refer to File notice is hereby given that on May 1,
4(f)(6) thereunder.14
A proposed rule change filed under Number SR–FINRA–2015–010. This file 2015, BATS Y-Exchange, Inc. (the
Rule 19b–4(f)(6) 15 normally does not number should be included on the ‘‘Exchange’’ or ‘‘BYX’’) filed with the
Securities and Exchange Commission
become operative prior to 30 days after subject line if email is used. To help the
(‘‘SEC’’ or ‘‘Commission’’) the proposed
Commission process and review your
rule change as described in Items I, II,
12 15 U.S.C. 78o–3(b)(11). comments more efficiently, please use
asabaliauskas on DSK5VPTVN1PROD with NOTICES
13 15 U.S.C. 78s(b)(3)(A). and III below, which Items have been
only one method. The Commission will
14 17 CFR 240.19b–4(f)(6). Rule 19b–4(f)(6) prepared by the Exchange. The
post all comments on the Commission’s
requires a self-regulatory organization to give the Exchange has designated the proposed
Commission written notice of its intent to file the Internet Web site (http://www.sec.gov/
rule change as one establishing or
proposed rule change at least five business days
prior to the date of filing of the proposed rule 16 17CFR 240.19b–4(f)(6)(iii).
changing a member due, fee, or other
change, or such shorter time as designated by the 17 Forpurposes only of waiving the 30-day
18 17 CFR 200.30–3(a)(12).
Commission. The Exchange has satisfied this operative delay, the Commission has considered the
requirement. proposed rule’s impact on efficiency, competition, 1 15 U.S.C. 78s(b)(1).
15 17 CFR 240.19b–4(f)(6). and capital formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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![Federal Register / Vol. 80, No. 95 / Monday, May 18, 2015 / Notices 28331
amendments, all written statements (‘‘NYSE’’ or the ‘‘Exchange’’) filed with their terms have become void and are of
with respect to the proposed rule the Securities and Exchange no further force and effect as a result of
change that are filed with the Commission (the ‘‘Commission’’) the the sale by ICE of Euronext in June
Commission, and all written proposed rule change as described in 2014, upon consummation of which
communications relating to the Items I and II below, which Items have ICE, ICE Holdings and NYSE Holdings
proposed rule change between the been prepared by the self-regulatory ceased to control Euronext.4 The
Commission and any person, other than organization. The Commission is Exchange also requests approval of
those that may be withheld from the publishing this notice to solicit conforming changes to the
public in accordance with the comments on the proposed rule change Independence Policy.5
provisions of 5 U.S.C. 552, will be from interested persons. The Exchange believes the proposed
available for Web site viewing and changes are desirable to avoid the
printing in the Commission’s Public I. Self-Regulatory Organization’s potential for confusion that could arise
Reference Room, 100 F Street NE., Statement of the Terms of Substance of if ICE, ICE Holdings and NYSE Holdings
Washington, DC 20549 on official the Proposed Rule Change were to retain in their constituent
business days between the hours of The Exchange proposes to amend the documents or in the Independence
10:00 a.m. and 3:00 p.m. Copies of such constituent documents of its Policy provisions that are no longer
filing also will be available for intermediate parent companies NYSE operative.
inspection and copying at the principal Holdings LLC, a Delaware limited Background
offices of the Exchange. All comments liability company (‘‘NYSE Holdings’’),
received will be posted without change; and Intercontinental Exchange In 2007, the Exchange’s direct parent,
the Commission does not edit personal Holdings, Inc., a Delaware corporation NYSE Group Inc. (‘‘NYSE Group’’),
identifying information from (‘‘ICE Holdings’’), and its ultimate entered into a business combination
submissions. You should submit only parent company, Intercontinental transaction with Euronext N.V.
information that you wish to make Exchange, Inc., a Delaware corporation (‘‘Euronext’’) in which NYSE Group and
available publicly. All submissions (‘‘ICE’’), to eliminate certain provisions Euronext became wholly owned
should refer to File Number SR–BYX– that by their terms have become void subsidiaries of a newly formed
2015–24, and should be submitted on or and are of no further force and effect as company, NYSE Euronext, a Delaware
before June 8, 2015. June 5, 2015. a result of the sale by ICE of Euronext corporation. The Certificate of
N.V. (‘‘Euronext’’) in June 2014. The Incorporation and Bylaws of NYSE
For the Commission, by the Division of
Trading and Markets, pursuant to delegated Exchange also seeks approval of Euronext included provisions (a)
authority.13 conforming changes to the requiring NYSE Euronext and its board
Robert W. Errett, Independence Policy of the Board of of directors to give due consideration to
requirements of European law and
Deputy Secretary. Directors of ICE (the ‘‘Independence
regulation applicable to the operation of
[FR Doc. 2015–11879 Filed 5–15–15; 8:45 am] Policy’’). The text of the proposed rule
Euronext’s European business; (b)
BILLING CODE 8011–01–P change is available on the Exchange’s
requiring NYSE Euronext and its board
Web site at www.nyse.com, at the
of directors to cause Euronext’s
principal office of the Exchange, and at
subsidiaries to operate in compliance
SECURITIES AND EXCHANGE the Commission’s Public Reference
with applicable law and regulation and
COMMISSION Room.
to cooperate with European regulators;
[Release No. 34–74928; File No. SR–NYSE– II. Self-Regulatory Organization’s (c) relating to board compositions and
2015–18] Statement of the Purpose of, and similar matters; and (d) prohibiting the
Statutory Basis for, the Proposed Rule amendment of such provisions without
Self-Regulatory Organizations; New Change a supermajority vote of the directors in
York Stock Exchange LLC; Notice of light of Euronext’s minority
Filing and Immediate Effectiveness of In its filing with the Commission, the
representation on the board
Proposed Rule Change Amending the self-regulatory organization included
(collectively, the ‘‘European
Constituent Documents of Its statements concerning the purpose of,
Provisions’’). NYSE Euronext’s
Intermediate Parent Companies NYSE and basis for, the proposed rule change
Holdings LLC., Intercontinental and discussed any comments it received 4 ICE, a public company listed on the Exchange,
Exchange, Inc., To Eliminate Certain on the proposed rule change. The text owns 100% of ICE Holdings, which in turn owns
Provisions That by Their Terms Have of those statements may be examined at 100% of NYSE Holdings. Through ICE Holdings,
the places specified in Item IV below. NYSE Holdings and NYSE Group, Inc., ICE
Become Void and Are of No Further indirectly owns (1) 100% of the equity interest of
Force and Effect as a Result of the The Exchange has prepared summaries, three registered national securities exchanges and
Sale by ICE of Euronext N.V. in June set forth in sections A, B, and C below, self-regulatory organizations (together, the ‘‘NYSE
2014 and Make Conforming Changes of the most significant parts of such Exchanges’’)—the Exchange, NYSE Arca, Inc.
statements. (‘‘NYSE Arca’’) and NYSE MKT LLC (‘‘NYSE
to the Independence Policy of the MKT’’)—and (2) 100% of the equity interest of
Board of Directors of ICE A. Self-Regulatory Organization’s NYSE Market (DE), Inc., NYSE Regulation, Inc.,
NYSE Arca L.L.C. and NYSE Arca Equities, Inc. ICE
May 12, 2015. Statement of the Purpose of, and the also indirectly owns a majority interest in NYSE
Pursuant to Section 19(b)(1) 1 of the Statutory Basis for, the Proposed Rule Amex Options LLC. See Exchange Act Release No.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Securities Exchange Act of 1934 (the Change 70210 (August 15, 2013), 78 FR 51758 (August 21,
2013) (SR–NYSE–2013–42; SR–NYSEMKT–2013–
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 1. Purpose 50; SR–NYSEArca–2013–62) (‘‘Release No. 70210’’)
notice is hereby given that on May 1, (approving proposed rule change relating to a
2015, New York Stock Exchange LLC The Exchange requests approval to corporate transaction in which NYSE Euronext will
amend the constituent documents of its become a wholly owned subsidiary of
intermediate parent companies NYSE IntercontinentalExchange Group, Inc.).
13 17 CFR 200.30–3(a)(12). 5 The Exchange’s affiliates NYSE Arca and NYSE
1 15 U.S.C. 78s(b)(1). Holdings and ICE Holdings, and of its MKT have also submitted the same proposed rule
2 15 U.S.C. 78a. ultimate parent company, ICE, to change. See SR–NYSEMKT–2015–32 and SR–
3 17 CFR 240.19b–4. eliminate certain provisions that by NYSEArca–2015–33.
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Document Created: 2015-12-16 07:39:21
Document Modified: 2015-12-16 07:39:21
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 28328 |
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