80 FR 41100 - Sunshine Act; Notice of Public Meeting
RAILROAD RETIREMENT BOARD Federal Register Volume 80, Issue 134 (July 14, 2015)
Federal Register Volume 80, Issue 134 (July 14, 2015)
| Page Range | 41100-41100 | |
| FR Document | 2015-17321 |
[Federal Register Volume 80, Number 134 (Tuesday, July 14, 2015)] [Notices] [Page 41100] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-17321] ----------------------------------------------------------------------- RAILROAD RETIREMENT BOARD Sunshine Act; Notice of Public Meeting Notice is hereby given that the Railroad Retirement Board will hold a meeting on July 29, 2015, 10 a.m., at the Board's meeting room on the 8th floor of its headquarters building, 844 North Rush Street, Chicago, Illinois, 60611. The agenda for this meeting follows: Portion open to the public: (1) Executive Committee Reports (2) Labor Member's Comments on Changes to the Disability Program The person to contact for more information is Martha P. Rico, Secretary to the Board, Phone No. 312-751-4920. Dated: July 10, 2015. Martha P. Rico, Secretary to the Board. [FR Doc. 2015-17321 Filed 7-10-15; 11:15 am] BILLING CODE 7905-01-P
![41100 Federal Register / Vol. 80, No. 134 / Tuesday, July 14, 2015 / Notices
Charles.Mierzwa@RRB.GOV. Written I. Self-Regulatory Organization’s that can create large, unintended
comments should be received within 60 Statement of the Terms of Substance of principal positions that expose NOM
days of this notice. the Proposed Rule Change Market Makers, who are required to
NASDAQ proposes to amend Chapter continuously quote in assigned options,
Charles Mierzwa,
VII, Section 6, entitled ‘‘Market Maker to potentially significant market risk.
Chief of Information Resources Management. Today, the Exchange’s rules permit
[FR Doc. 2015–17244 Filed 7–13–15; 8:45 am]
Quotations,’’ of the rules governing the
NASDAQ Options Market (‘‘NOM’’ or NOM Market Makers to monitor risk
BILLING CODE 7905–01–P
‘‘Exchange’’). The Exchange proposes to arising from multiple executions across
adopt two new NOM Market Maker 3 multiple options series of a single
optional risk protections, a volume- underlying security.6
RAILROAD RETIREMENT BOARD The Exchange is proposing to offer a
based threshold and a multi-trigger
threshold.4 new volume-based and multi-trigger
Sunshine Act; Notice of Public Meeting threshold protection to NOM Market
The text of the proposed rule change
is available on the Exchange’s Web site Makers. The Exchange proposes to
Notice is hereby given that the
at http:// amend NOM’s Rules at Chapter VII,
Railroad Retirement Board will hold a
www.nasdaq.cchwallstreet.com, at the Section 6(f) to establish: (1) A threshold
meeting on July 29, 2015, 10 a.m., at the
principal office of the Exchange, and at used to calculate each NOM Market
Board’s meeting room on the 8th floor
the Commission’s Public Reference Maker’s total volume executed in all
of its headquarters building, 844 North
Room. series of a given underlying security
Rush Street, Chicago, Illinois, 60611.
within a specified time period and
The agenda for this meeting follows: II. Self-Regulatory Organization’s compares that to a pre-determined
Portion open to the public: Statement of the Purpose of, and threshold (‘‘Volume-Based Threshold’’),
Statutory Basis for, the Proposed Rule and (2) a threshold which measures the
(1) Executive Committee Reports
Change number of times the System has
(2) Labor Member’s Comments on
In its filing with the Commission, the triggered 7 based on the Risk Monitor
Changes to the Disability Program
Exchange included statements Mechanism (‘‘Percentage-Based
The person to contact for more concerning the purpose of and basis for Threshold’’) pursuant to Chapter VI,
information is Martha P. Rico, Secretary the proposed rule change and discussed Section 19 and Volume-Based
to the Board, Phone No. 312–751–4920. any comments it received on the Thresholds within a specified time
Dated: July 10, 2015. proposed rule change. The text of these period and compares that total to a pre-
Martha P. Rico, statements may be examined at the determined threshold (‘‘Multi-Trigger
places specified in Item IV below. The Threshold’’).
Secretary to the Board.
Exchange has prepared summaries, set Volume-Based Threshold
[FR Doc. 2015–17321 Filed 7–10–15; 11:15 am]
forth in sections A, B, and C below, of
BILLING CODE 7905–01–P
the most significant aspects of such In connection with offering these two
statements. new threshold protections, a NOM
Market Maker would provide a specified
A. Self-Regulatory Organization’s time period and volume threshold by
SECURITIES AND EXCHANGE Statement of the Purpose of, and which the Exchange’s System would
COMMISSION Statutory Basis for, the Proposed Rule automatically remove the NOM Market
Change Maker’s quotes and orders in an options
[Release No. 34–75391; File No. SR– 1. Purpose class, depending on the threshold
NASDAQ–2015–061] utilized, submitted through designated
The purpose of the filing is to adopt
NOM protocols, as specified by the
Self-Regulatory Organizations; The two new risk protections for NOM
Exchange. The Exchange counts
NASDAQ Stock Market LLC; Notice of Market Maker’s to monitor marketplace
Specialized Quote Feed (‘‘SQF’’) 8
Filing and Immediate Effectiveness of risk. These protections are intended to
quotes and OTTO 9 orders only in
Proposed Rule Change Relating to the assist NOM Market Makers to control
determining the number of contracts
Volume-Based and Multi-Trigger their trading risks.5 Quoting across
traded and removed by the System.10
Thresholds many series in an option creates the The Volume-Based Threshold will
possibility of ‘‘rapid fire’’ executions determine, during a specified time
July 8, 2015.
3 The term ‘‘NOM Market Maker’’ means a
period established by the NOM Market
Pursuant to Section 19(b)(1) of the
Participant that has registered as a Market Maker on
Securities Exchange Act of 1934 NOM pursuant to Chapter VII, Section 2, and must
6 See NOM Chapter VI, Section 19, ‘‘Risk Monitor
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 also remain in good standing pursuant to Chapter Mechanism.’’
notice is hereby given that on June 23, VII, Section 4. 7 A trigger is defined as the event which causes
2015, The NASDAQ Stock Market LLC 4 Market Makers will be required to continue to the System to automatically remove all quotes and
utilize the Risk Monitor Mechanism in Chapter VI, orders in all options series in an underlying issue.
(‘‘NASDAQ’’ or ‘‘Exchange’’) filed with 8 SQF permits the receipt of quotes. SQF Auction
Section 19, as is the case today.
the Securities and Exchange 5 Pursuant to NOM Rules at Chapter VII, Section Responses and market sweeps are also not
Commission (‘‘SEC’’ or ‘‘Commission’’) 5, entitled ‘‘Obligations of Market Makers’’, in included.
the proposed rule change as described 9 OTTO immediate or cancel orders will not be
asabaliauskas on DSK5VPTVN1PROD with NOTICES
registering as a market maker, an Options
in Items I, II, and III, below, which Items Participant commits himself to various obligations. included. OTTO provides a method for subscribers
Transactions of a NOM Market Maker must to send orders and receive status updates on those
have been prepared by NASDAQ. The constitute a course of dealings reasonably orders. OTTO accepts limit orders from System
Commission is publishing this notice to calculated to contribute to the maintenance of a fair subscribers, and if there is a matching order, the
solicit comments on the proposed rule and orderly market, and Market Makers should not orders will execute. Non-matching orders are added
change from interested persons. make bids or offers or enter into transactions that to the limit order book, a database of available limit
are inconsistent with such course of dealings. orders, where they are matched.
Further, all Market Makers are designated as 10 Financial Information Exchange (‘‘FIX’’) Orders
1 15 U.S.C. 78s(b)(1). specialists on NOM for all purposes under the Act are not counted in determining the number of
2 17 CFR 240.19b–4. or rules thereunder. See Chapter VII, Section 2. contracts traded and removed by the System.
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Document Created: 2018-02-23 09:19:16
Document Modified: 2018-02-23 09:19:16
| 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 41100 |
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