80_FR_37462 80 FR 37337 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Amending Rule 6.42 To Extend Its Penny Pilot Until June 30, 2016

80 FR 37337 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating To Amending Rule 6.42 To Extend Its Penny Pilot Until June 30, 2016

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 125 (June 30, 2015)

Page Range37337-37338
FR Document2015-15983

Federal Register, Volume 80 Issue 125 (Tuesday, June 30, 2015)
[Federal Register Volume 80, Number 125 (Tuesday, June 30, 2015)]
[Notices]
[Pages 37337-37338]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-15983]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75287; File No. SR-CBOE-2015-060]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change Relating To Amending Rule 6.42 To Extend Its Penny 
Pilot Until June 30, 2016

June 24, 2015.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on June 17, 2015, Chicago Board Options Exchange, Incorporated 
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I and II below, which Items have been prepared by the 
Exchange. The Exchange filed the proposal as a ``non-controversial'' 
proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 
\3\ and Rule 19b-4(f)(6) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The text of the proposed rule change is available on the Exchange's 
Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), 
at the Exchange's Office of the Secretary, 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 aspects 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 Penny Pilot Program (the ``Pilot Program'') is scheduled to 
expire on June 30, 2015. CBOE proposes to extend the Pilot Program 
until June 30, 2016. CBOE believes that extending the Pilot Program 
will allow for further analysis of the Pilot Program and a 
determination of how the Pilot Program should be structured in the 
future.
    During this extension of the Pilot Program, CBOE proposes that it 
may replace any option class that is currently included in the Pilot 
Program and that has been delisted with the next most actively traded, 
multiply listed option class that is not yet participating in the Pilot 
Program (``replacement class''). Any replacement class would be 
determined based on national average daily volume in the preceding six 
months,\5\ and would be added on the second trading day following July 
1, 2015 and January 1, 2016. CBOE will employ the same parameters to 
prospective replacement classes as approved and applicable in 
determining the existing classes in the Pilot Program, including 
excluding high-priced underlying securities.\6\ CBOE will announce to 
its Trading Permit Holders by circular any replacement classes in the 
Pilot Program.
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    \5\ The month immediately preceding a replacement class's 
addition to the Pilot Program (i.e., June) would not be used for 
purposes of the six-month analysis. Thus, a replacement class to be 
added on the second trading day following July 1, 2015 would be 
identified based on The Option Clearing Corporation's trading volume 
data from December 1, 2014 through May 31, 2015.
    \6\ See Securities Exchange Act Release No. 60864 (October 22, 
2009), 74 FR 55876 (October 29, 2009) (SR-CBOE-2009-76).
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    CBOE is specifically authorized to act jointly with the other 
options exchanges participating in the Pilot Program in identifying any 
replacement class.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of Section 6(b) of the Act.\7\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \8\ requirements that the rules of an exchange be 
designed to prevent fraudulent and manipulative acts and practices, to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in regulating, clearing, 
settling, processing information with respect to, and facilitation 
transactions in securities, to remove impediments to and perfect the 
mechanism of a free and open market and a national market system, and, 
in general, to protect investors and the public interest. Additionally, 
the Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \9\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers. In particular, the proposed rule change allows for 
an extension of the Pilot Program for the benefit of market 
participants.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
    \9\ Id.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    CBOE 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. Specifically, the Exchange 
believes that, by extending the expiration of the Pilot Program, the 
proposed rule change will allow for further analysis of the Pilot 
Program and a determination of how the Program shall be structured in 
the future. In doing so, the proposed rule change will also serve to 
promote regulatory clarity and consistency, thereby reducing burdens on 
the marketplace and facilitating investor protection. In addition, the 
Exchange has been authorized to act jointly in extending the Pilot 
Program and believes the other exchanges will be filing similar 
extensions.

[[Page 37338]]

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

    The Exchange neither solicited nor received comments on the 
proposed rule change.

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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ 
Because the proposed rule change does not: (i) Significantly affect the 
protection of investors or the public interest; (ii) impose any 
significant burden on competition; and (iii) become operative prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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    \10\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \11\ 17 CFR 240.19b-4(f)(6).
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    A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally 
does not become operative prior to 30 days after the date of the 
filing.\13\ However, pursuant to Rule 19b-4(f)(6)(iii),\14\ the 
Commission may designate a shorter time if such action is consistent 
with the protection of investors and the public interest. The Exchange 
has asked the Commission to waive the 30-day operative delay so that 
the proposal may become operative immediately upon filing. The 
Commission believes that waiving the 30-day operative delay is 
consistent with the protection of investors and the public interest 
because doing so will allow the Pilot Program to continue without 
interruption in a manner that is consistent with the Commission's prior 
approval of the extension and expansion of the Pilot Program and will 
allow the Exchange and the Commission additional time to analyze the 
impact of the Pilot Program.\15\ Accordingly, the Commission designates 
the proposed rule change as operative upon filing with the 
Commission.\16\
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    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Exchange to give the Commission written notice of the 
Exchange's intent to file the proposed rule change along with a 
brief description and the text of the proposed rule change, at least 
five business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission. The 
Exchange has satisfied this pre-filing requirement.
    \14\ 17 CFR 240.19b-4(f)(6)(iii).
    \15\ See Securities Exchange Act Release No. 61061 (November 24, 
2009), 74 FR 62857 (December 1, 2009) (SR-NYSEArca-2009-44).
    \16\ For purposes only of waiving the operative delay for this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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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) \17\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \17\ 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-CBOE-2015-060 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-CBOE-2015-060. 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 20549-1090 on official business days between the hours 
of 10:00 a.m. and 3:00 p.m. Copies of the 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-CBOE-2015-060 and should be 
submitted on or before July 21, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-15983 Filed 6-29-15; 8:45 am]
 BILLING CODE 8011-01-P



                                                                                       Federal Register / Vol. 80, No. 125 / Tuesday, June 30, 2015 / Notices                                         37337

                                                    office of the Exchange. All comments                     II. Self-Regulatory Organization’s                     2. Statutory Basis
                                                    received will be posted without change;                  Statement of the Purpose of, and
                                                    the Commission does not edit personal                    Statutory Basis for, the Proposed Rule                    The Exchange believes the proposed
                                                    identifying information from                             Change                                                 rule change is consistent with the
                                                    submissions. You should submit only                                                                             Securities Exchange Act of 1934 (the
                                                                                                                In its filing with the Commission, the
                                                    information that you wish to make                        Exchange included statements                           ‘‘Act’’) and the rules and regulations
                                                    available publicly. All submissions                      concerning the purpose of and basis for                thereunder applicable to the Exchange
                                                    should refer to File Number SR–C2–                       the proposed rule change and discussed                 and, in particular, the requirements of
                                                    2015–015 and should be submitted on                      any comments it received on the                        Section 6(b) of the Act.7 Specifically,
                                                    or before July 21,2015.                                  proposed rule change. The text of these                the Exchange believes the proposed rule
                                                      For the Commission, by the Division of                 statements may be examined at the                      change is consistent with the Section
                                                    Trading and Markets, pursuant to delegated               places specified in Item IV below. The                 6(b)(5) 8 requirements that the rules of
                                                    authority.15                                             Exchange has prepared summaries, set                   an exchange be designed to prevent
                                                    Robert W. Errett,                                        forth in sections A, B, and C below, of                fraudulent and manipulative acts and
                                                    Deputy Secretary.                                        the most significant aspects of such                   practices, to promote just and equitable
                                                    [FR Doc. 2015–15976 Filed 6–29–15; 8:45 am]              statements.                                            principles of trade, to foster cooperation
                                                    BILLING CODE 8011–01–P
                                                                                                             A. Self-Regulatory Organization’s                      and coordination with persons engaged
                                                                                                             Statement of the Purpose of, and the                   in regulating, clearing, settling,
                                                                                                             Statutory Basis for, the Proposed Rule                 processing information with respect to,
                                                    SECURITIES AND EXCHANGE                                                                                         and facilitation transactions in
                                                                                                             Change
                                                    COMMISSION                                                                                                      securities, to remove impediments to
                                                                                                             1. Purpose                                             and perfect the mechanism of a free and
                                                    [Release No. 34–75287; File No. SR–CBOE–
                                                    2015–060]                                                   The Penny Pilot Program (the ‘‘Pilot                open market and a national market
                                                                                                             Program’’) is scheduled to expire on                   system, and, in general, to protect
                                                    Self-Regulatory Organizations;                           June 30, 2015. CBOE proposes to extend                 investors and the public interest.
                                                    Chicago Board Options Exchange,                          the Pilot Program until June 30, 2016.                 Additionally, the Exchange believes the
                                                    Incorporated; Notice of Filing and                       CBOE believes that extending the Pilot                 proposed rule change is consistent with
                                                    Immediate Effectiveness of a Proposed                    Program will allow for further analysis                the Section 6(b)(5) 9 requirement that
                                                    Rule Change Relating To Amending                         of the Pilot Program and a                             the rules of an exchange not be designed
                                                    Rule 6.42 To Extend Its Penny Pilot                      determination of how the Pilot Program
                                                    Until June 30, 2016                                                                                             to permit unfair discrimination between
                                                                                                             should be structured in the future.
                                                                                                                During this extension of the Pilot                  customers, issuers, brokers, or dealers.
                                                    June 24, 2015.
                                                                                                             Program, CBOE proposes that it may                     In particular, the proposed rule change
                                                       Pursuant to Section 19(b)(1) of the                   replace any option class that is currently             allows for an extension of the Pilot
                                                    Securities Exchange Act of 1934 (the                     included in the Pilot Program and that                 Program for the benefit of market
                                                    ‘‘Act’’) 1 and Rule 19b–4 thereunder,2                   has been delisted with the next most                   participants.
                                                    notice is hereby given that on June 17,                  actively traded, multiply listed option
                                                    2015, Chicago Board Options Exchange,                                                                           B. Self-Regulatory Organization’s
                                                                                                             class that is not yet participating in the             Statement on Burden on Competition
                                                    Incorporated (the ‘‘Exchange’’ or                        Pilot Program (‘‘replacement class’’).
                                                    ‘‘CBOE’’) filed with the Securities and                  Any replacement class would be                           CBOE does not believe that the
                                                    Exchange Commission (the                                 determined based on national average                   proposed rule change will impose any
                                                    ‘‘Commission’’) the proposed rule                        daily volume in the preceding six
                                                    change as described in Items I and II                                                                           burden on competition that is not
                                                                                                             months,5 and would be added on the                     necessary or appropriate in furtherance
                                                    below, which Items have been prepared                    second trading day following July 1,
                                                    by the Exchange. The Exchange filed the                                                                         of the purposes of the Act. Specifically,
                                                                                                             2015 and January 1, 2016. CBOE will                    the Exchange believes that, by extending
                                                    proposal as a ‘‘non-controversial’’                      employ the same parameters to
                                                    proposed rule change pursuant to                                                                                the expiration of the Pilot Program, the
                                                                                                             prospective replacement classes as                     proposed rule change will allow for
                                                    Section 19(b)(3)(A)(iii) of the Act 3 and                approved and applicable in determining
                                                    Rule 19b–4(f)(6) thereunder.4 The                                                                               further analysis of the Pilot Program and
                                                                                                             the existing classes in the Pilot Program,
                                                    Commission is publishing this notice to                                                                         a determination of how the Program
                                                                                                             including excluding high-priced
                                                    solicit comments on the proposed rule                                                                           shall be structured in the future. In
                                                                                                             underlying securities.6 CBOE will
                                                    change from interested persons.                          announce to its Trading Permit Holders                 doing so, the proposed rule change will
                                                                                                             by circular any replacement classes in                 also serve to promote regulatory clarity
                                                    I. Self-Regulatory Organization’s
                                                                                                             the Pilot Program.                                     and consistency, thereby reducing
                                                    Statement of the Terms of Substance of
                                                    the Proposed Rule Change                                    CBOE is specifically authorized to act              burdens on the marketplace and
                                                                                                             jointly with the other options exchanges               facilitating investor protection. In
                                                       The text of the proposed rule change                                                                         addition, the Exchange has been
                                                                                                             participating in the Pilot Program in
                                                    is available on the Exchange’s Web site                                                                         authorized to act jointly in extending
                                                                                                             identifying any replacement class.
                                                    (http://www.cboe.com/AboutCBOE/                                                                                 the Pilot Program and believes the other
                                                    CBOELegalRegulatoryHome.aspx), at                           5 The month immediately preceding a                 exchanges will be filing similar
asabaliauskas on DSK5VPTVN1PROD with NOTICES




                                                    the Exchange’s Office of the Secretary,                  replacement class’s addition to the Pilot Program      extensions.
                                                    and at the Commission’s Public                           (i.e., June) would not be used for purposes of the
                                                    Reference Room.                                          six-month analysis. Thus, a replacement class to be
                                                                                                             added on the second trading day following July 1,
                                                      15 17
                                                                                                             2015 would be identified based on The Option
                                                            CFR 200.30–3(a)(12).                             Clearing Corporation’s trading volume data from
                                                      1 15 U.S.C. 78s(b)(1).                                 December 1, 2014 through May 31, 2015.
                                                      2 17 CFR 240.19b–4.                                                                                            7 15    U.S.C. 78f(b).
                                                                                                                6 See Securities Exchange Act Release No. 60864
                                                      3 15 U.S.C. 78s(b)(3)(A)(iii).                                                                                 8 15    U.S.C. 78f(b)(5).
                                                                                                             (October 22, 2009), 74 FR 55876 (October 29, 2009)
                                                      4 17 CFR 240.19b–4(f)(6).                              (SR–CBOE–2009–76).                                      9 Id.




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                                                    37338                          Federal Register / Vol. 80, No. 125 / Tuesday, June 30, 2015 / Notices

                                                    C. Self-Regulatory Organization’s                       Commission designates the proposed                     printing in the Commission’s Public
                                                    Statement on Comments on the                            rule change as operative upon filing                   Reference Room, 100 F Street, NE.,
                                                    Proposed Rule Change Received From                      with the Commission.16                                 Washington, DC 20549–1090 on official
                                                    Members, Participants, or Others                           At any time within 60 days of the                   business days between the hours of
                                                      The Exchange neither solicited nor                    filing of such proposed rule change, the               10:00 a.m. and 3:00 p.m. Copies of the
                                                    received comments on the proposed                       Commission summarily may                               filing also will be available for
                                                    rule change.                                            temporarily suspend such rule change if                inspection and copying at the principal
                                                                                                            it appears to the Commission that such                 office of the Exchange. All comments
                                                    III. Date of Effectiveness of the                       action is necessary or appropriate in the              received will be posted without change;
                                                    Proposed Rule Change and Timing for                     public interest, for the protection of                 the Commission does not edit personal
                                                    Commission Action                                       investors, or otherwise in furtherance of              identifying information from
                                                       The Exchange has filed the proposed                  the purposes of the Act. If the                        submissions. You should submit only
                                                    rule change pursuant to Section                         Commission takes such action, the                      information that you wish to make
                                                    19(b)(3)(A)(iii) of the Act 10 and Rule                 Commission shall institute proceedings                 available publicly. All submissions
                                                    19b–4(f)(6) thereunder.11 Because the                   under Section 19(b)(2)(B) 17 of the Act to             should refer to File Number SR–CBOE–
                                                    proposed rule change does not: (i)                      determine whether the proposed rule                    2015–060 and should be submitted on
                                                    Significantly affect the protection of                  change should be approved or                           or before July 21, 2015.
                                                    investors or the public interest; (ii)                  disapproved.                                             For the Commission, by the Division of
                                                    impose any significant burden on                        IV. Solicitation of Comments                           Trading and Markets, pursuant to delegated
                                                    competition; and (iii) become operative                                                                        authority.18
                                                    prior to 30 days from the date on which                   Interested persons are invited to                    Robert W. Errett,
                                                    it was filed, or such shorter time as the               submit written data, views, and
                                                                                                                                                                   Deputy Secretary.
                                                    Commission may designate, if                            arguments concerning the foregoing,
                                                                                                                                                                   [FR Doc. 2015–15983 Filed 6–29–15; 8:45 am]
                                                    consistent with the protection of                       including whether the proposed rule
                                                                                                            change is consistent with the Act.                     BILLING CODE 8011–01–P
                                                    investors and the public interest, the
                                                    proposed rule change has become                         Comments may be submitted by any of
                                                    effective pursuant to Section 19(b)(3)(A)               the following methods:
                                                                                                                                                                   SECURITIES AND EXCHANGE
                                                    of the Act and Rule 19b–4(f)(6)(iii)                    Electronic Comments                                    COMMISSION
                                                    thereunder.                                               • Use the Commission’s Internet
                                                       A proposed rule change filed under                                                                          [Release No. 34–75281; File No. SR–
                                                                                                            comment form (http://www.sec.gov/                      NYSEMKT–2015–43]
                                                    Rule 19b–4(f)(6) 12 normally does not
                                                                                                            rules/sro.shtml); or
                                                    become operative prior to 30 days after                   • Send an email to rule-comments@                    Self-Regulatory Organizations; NYSE
                                                    the date of the filing.13 However,                                                                             MKT LLC; Notice of Filing and
                                                                                                            sec.gov. Please include File Number SR–
                                                    pursuant to Rule 19b–4(f)(6)(iii),14 the                                                                       Immediate Effectiveness of Proposed
                                                                                                            CBOE–2015–060 on the subject line.
                                                    Commission may designate a shorter                                                                             Rule Change Amending Commentary
                                                    time if such action is consistent with the              Paper Comments                                         .02 to NYSE Amex Options Rule 960NY
                                                    protection of investors and the public                    • Send paper comments in triplicate                  in Order To Extend the Penny Pilot in
                                                    interest. The Exchange has asked the                    to Secretary, Securities and Exchange                  Options Classes in Certain Issues
                                                    Commission to waive the 30-day                          Commission, 100 F Street, NE.,                         Through June 30, 2016
                                                    operative delay so that the proposal may                Washington, DC 20549–1090.
                                                    become operative immediately upon                       All submissions should refer to File                   June 24, 2015.
                                                    filing. The Commission believes that                    Number SR–CBOE–2015–060. This file                        Pursuant to section 19(b)(1) 1 of the
                                                    waiving the 30-day operative delay is                   number should be included on the                       Securities Exchange Act of 1934 (the
                                                    consistent with the protection of                       subject line if email is used. To help the             ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
                                                    investors and the public interest                       Commission process and review your                     notice is hereby given that on June 15,
                                                    because doing so will allow the Pilot                   comments more efficiently, please use                  2015, NYSE MKT LLC (the ‘‘Exchange’’
                                                    Program to continue without                             only one method. The Commission will                   or ‘‘NYSE MKT’’) filed with the
                                                    interruption in a manner that is                        post all comments on the Commission’s                  Securities and Exchange Commission
                                                    consistent with the Commission’s prior                  Internet Web site (http://www.sec.gov/                 (the ‘‘Commission’’) the proposed rule
                                                    approval of the extension and expansion                 rules/sro.shtml). Copies of the                        change as described in Items I and II
                                                    of the Pilot Program and will allow the                 submission, all subsequent                             below, which Items have been prepared
                                                    Exchange and the Commission                             amendments, all written statements                     by the self-regulatory organization. The
                                                    additional time to analyze the impact of                with respect to the proposed rule                      Commission is publishing this notice to
                                                    the Pilot Program.15 Accordingly, the                   change that are filed with the                         solicit comments on the proposed rule
                                                                                                            Commission, and all written                            change from interested persons.
                                                      10 15  U.S.C. 78s(b)(3)(A)(iii).
                                                      11 17  CFR 240.19b–4(f)(6).
                                                                                                            communications relating to the                         I. Self-Regulatory Organization’s
                                                      12 17 CFR 240.19b–4(f)(6).                            proposed rule change between the                       Statement of the Terms of Substance of
                                                      13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–     Commission and any person, other than                  the Proposed Rule Change
                                                    4(f)(6)(iii) requires the Exchange to give the          those that may be withheld from the                       The Exchange proposes to amend
                                                    Commission written notice of the Exchange’s intent      public in accordance with the
asabaliauskas on DSK5VPTVN1PROD with NOTICES




                                                    to file the proposed rule change along with a brief                                                            Commentary .02 to NYSE Amex Options
                                                    description and the text of the proposed rule
                                                                                                            provisions of 5 U.S.C. 552, will be                    Rule 960NY in order to extend the
                                                    change, at least five business days prior to the date   available for Web site viewing and                     Penny Pilot in options classes in certain
                                                    of filing of the proposed rule change, or such
                                                    shorter time as designated by the Commission. The          16 For purposes only of waiving the operative
                                                                                                                                                                   issues (‘‘Pilot Program’’) previously
                                                    Exchange has satisfied this pre-filing requirement.     delay for this proposal, the Commission has
                                                      14 17 CFR 240.19b–4(f)(6)(iii).                                                                                18 17 CFR 200.30–3(a)(12).
                                                                                                            considered the proposed rule’s impact on
                                                                                                                                                                     1 15 U.S.C. 78s(b)(1).
                                                      15 See Securities Exchange Act Release No. 61061      efficiency, competition, and capital formation. See
                                                    (November 24, 2009), 74 FR 62857 (December 1,           15 U.S.C. 78c(f).                                        2 15 U.S.C. 78a.

                                                    2009) (SR–NYSEArca–2009–44).                               17 15 U.S.C. 78s(b)(2)(B).                            3 17 CFR 240.19b–4.




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Document Created: 2018-02-22 11:17:21
Document Modified: 2018-02-22 11:17:21
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation80 FR 37337 

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