80 FR 46617 - Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 4703(a)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 150 (August 5, 2015)
Federal Register Volume 80, Issue 150 (August 5, 2015)
| Page Range | 46617-46619 | |
| FR Document | 2015-19134 |
[Federal Register Volume 80, Number 150 (Wednesday, August 5, 2015)] [Notices] [Pages 46617-46619] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19134] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75568; File No. SR-BX-2015-043] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend Rule 4703(a) July 30, 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 July 20, 2015, NASDAQ OMX BX, Inc. (``BX'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 4703(a) to remove the Market Hours Immediate or Cancel Time in Force and to delay implementation of changes to the Good-til-market close Time in Force, which were recently adopted by BX but are not yet implemented. The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqomxbx.cchwallstreet.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 aspects 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 is proposing to amend Rule 4703(a) to remove the Market Hours Immediate or Cancel (``Market Hours IOC'' or ``MIOC'') Time-in-Force and to delay implementation of changes to the Good-til- market close (``GTMC'') Time-in-Force, which were recently adopted by BX but are not yet implemented.\3\ Time-in-Force (``TIF'') is [[Page 46618]] a characteristic of an order that limits the period of time that the System will hold an order for potential execution. An Order that is designated to deactivate immediately after determining whether the Order is marketable may be referred to as having a TIF of ``Immediate or Cancel'' or ``IOC''.\4\ Any Order with a TIF of IOC entered between 9:30 a.m. ET and 4:00 p.m. ET is considered as having a TIF of MIOC.\5\ The MIOC TIF is very similar to the SIOC \6\ TIF, but MIOC designated orders are limited to entry and potential execution only during Regular Market Hours. An order designated with a TIF of MIOC that is entered outside of Regular Market Hours would be returned to the entering member firm without attempting to execute. The Exchange has determined that, based on a lack of market participant desire for a MIOC TIF and the cost that would be incurred in developing and implementing it on the Exchange, it will not implement the MIOC TIF at this juncture. Accordingly, the Exchange is proposing to delete text concerning the MIOC TIF, which is effective but not yet operative. --------------------------------------------------------------------------- \3\ The Exchange notes that the text at issue in this filing concerning the MIOC TIF under Rule 4703(a)(1) is not yet implemented, but was recently inadvertently incorporated into the BX rulebook when the Commission approved certain rules governing the BX equities market in order to provide additional detail and clarity regarding its order type functionality. See Securities Exchange Act Release No. 75291 (June 24, 2015), 80 FR 37698 (July 1, 2015) (SR- BX-2015-015). Notwithstanding its inadvertent inclusion in the rulebook, the rule text concerning the MIOC TIF is not yet effective. The Exchange had anticipated implementing the MIOC and GTMC changes in the second quarter of 2015. See Securities Exchange Act Release No. 74638 (April 2, 2015), 80 FR 18890 (April 8, 2015) (SR-BX-2015-016). \4\ See Rule 4703(a)(1). \5\ Id. \6\ An Order with a TIF of IOC that is entered at any time between 7:00 a.m. ET and 7:00 p.m. ET may be referred to as having a TIF of ``System Hours Immediate or Cancel'' or ``SIOC''. Id. --------------------------------------------------------------------------- The Exchange is also proposing to amend Rule 4703(a)(6) to make it clear that the Exchange will no longer accept GTMC orders for execution after 4:00 p.m. Eastern Time, which are currently accepted and converted to SIOC orders if received after 4:00 p.m. Eastern Time. In April 2015, the Exchange proposed this change to the predecessor rule concerning GTMC orders in a prior filing with the Commission,\7\ and had anticipated implementing the change at some point in the second quarter of 2015. During that time, the Commission approved a rule change that renumbered and clarified the rule.\8\ Accordingly, the Exchange is now amending the renumbered rule to reflect the changes made in the prior filing. The Exchange is also proposing to delay the change to the operation of GTMC orders after 4:00 p.m. Eastern Time, so that this change will now be implemented the week of August 17, 2015 and will complete the implementation the week of August 31, 2015. --------------------------------------------------------------------------- \7\ See Securities Exchange Act Release No. 74638 (April 2, 2015), 80 FR 18890 (April 8, 2015) (SR-BX-2015-016). \8\ The Exchange also made a clarifying change to the rule, which was incorporated into the renumbered rule. Supra note 3. --------------------------------------------------------------------------- The Exchange is also making a minor technical correction to Rule 4703(a)(6) by inserting hyphenation in the term ``Time-in-Force,'' which will make it consistent with its use in other paragraphs of the rule. 2. Statutory Basis BX believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,\9\ in general, and with Section 6(b)(5) of the Act,\10\ in particular, in that the proposal is 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 facilitating 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; and also in that it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. The Exchange believes that, in light of a lack of market participant interest and the costs the Exchange would incur in developing and implementing a MIOC TIF, it would be in the best interest of the market and market participants not to implement the change at this juncture. Implementing a change, which will not be used significantly yet will represent a cost to the Exchange to implement, could ultimately result in increased costs to market participants in the form of increased fees. Accordingly, the Exchange is eliminating the MIOC TIF until such time that the demand for it justifies the expenditure. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f. \10\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed change to Rule 4703(a)(6) is designed 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 because it modifies the rule to reflect a change made to the predecessor rule, which was filed with the Commission as an immediately effective filing to be implemented sometime in the second quarter of 2015. The change, which was subject to the notice and comment process, had not been implemented prior to the rule's renumbering. Accordingly, the proposed change to amend Rule 4703(a)(6) merely modifies the rule text so that it is consistent with the changes made to the predecessor rule. The proposed delay in implementing the changes to the Good-til- market close TIF is designed 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 because it will provide the Exchange with a brief extension to adequately program and test the proposed changes to the TIF. Moreover, the Exchange is delaying implementation of the changes until after the reconstitution of the Russell indexes, which is a day of significant volume in the market and immediately prior to which the Exchange reduces the number of changes made to the System. Accordingly, the proposed delay will serve to reduce risk in the market during a time of significant volume and provide the Exchange adequate time to program and test the proposed changes, thereby protecting investors and the public interest. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Specifically, the Exchange notes that there is little interest in MIOC among market participants on BX, and accordingly removing MIOC before it is implemented will not impact the Exchange's competitiveness among exchanges or other execution venues. In addition, the Exchange does not believe that briefly delaying the changes to the Good-til-market close TIF will place any burden on competition whatsoever because the TIF will continue to be available unchanged until the Exchange has adequately programmed and tested the proposed changes. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received from Members, Participants, or Others No written comments were either solicited or received. 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 \11\ and Rule 19b-4(f)(6) thereunder.\12\ 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 for 30 days from the date on which it [[Page 46619]] 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 \13\ and Rule 19b-4(f)(6) thereunder.\14\ --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(3)(A)(iii). \12\ 17 CFR 240.19b-4(f)(6). \13\ 15 U.S.C. 78s(b)(3)(A). \14\ 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 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 requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \15\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\16\ 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 proposed rule change may become operative immediately. The Exchange represents that market participants have not expressed interest in the MIOC TIF. The Exchange therefore argues that waiver of the operative delay is consistent with the protection of investors and the public interest because it will allow the Exchange to remove the MIOC TIF prior its implementation, thereby serving to avoid investor confusion. The Exchange also reasons that waiving the operative delay would allow the Exchange to make the required technical and operational changes to the GTMC TIF after the reconstitution of the Russell Indexes. Based on the foregoing, the Commission finds that waiving the 30-day operative delay is consistent with the protection of investors and the public interest and hereby designates the proposal operative upon filing.\17\ --------------------------------------------------------------------------- \15\ 17 CFR 240.19b-4(f)(6). \16\ 17 CFR 240.19b-4(f)(6)(iii). \17\ For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule change should be approved or disapproved. 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 [email protected]. Please include File Number SR-BX-2015-043 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-BX-2015-043. 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 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-BX-2015-043, and should be submitted on or before August 26, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\18\ --------------------------------------------------------------------------- \18\ 17 CFR 200.30-3(a)(12), (59). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-19134 Filed 8-4-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 150 / Wednesday, August 5, 2015 / Notices 46617
to Rule 19b–4(f)(6)(iii), the Commission post all comments on the Commission’s comments on the proposed rule change
may designate a shorter time if such Internet Web site (http://www.sec.gov/ from interested persons.
action is consistent with the protection rules/sro.shtml). Copies of the
I. Self-Regulatory Organization’s
of investors and the public interest. The submission, all subsequent
Statement of the Terms of Substance of
Exchange has asked the Commission to amendments, all written statements
with respect to the proposed rule the Proposed Rule Change
waive the 30-day operative delay so that
BATS may implement the proposed rule change that are filed with the The Exchange proposes to amend
change immediately. The Commission Commission, and all written Rule 4703(a) to remove the Market
believes that waiving the 30-day communications relating to the Hours Immediate or Cancel Time in
operative delay is consistent with the proposed rule change between the Force and to delay implementation of
protection of investors and the public Commission and any person, other than changes to the Good-til-market close
interest as it will immediately notify those that may be withheld from the Time in Force, which were recently
members that the currently scheduled public in accordance with the adopted by BX but are not yet
operative date for recent amendments to provisions of 5 U.S.C. 552, will be implemented.
BATS Post Only Orders has changed available for Web site viewing and The text of the proposed rule change
from July 30, 2015.17 Therefore, the printing in the Commission’s Public is available on the Exchange’s Web site
Commission hereby waives the 30-day Reference Room, 100 F Street NE., at http://
operative delay and designates the Washington, DC 20549 on official nasdaqomxbx.cchwallstreet.com, at the
proposed rule change to be operative business days between the hours of principal office of the Exchange, and at
upon filing with the Commission.18 10:00 a.m. and 3:00 p.m. Copies of such the Commission’s Public Reference
At any time within 60 days of the filing also will be available for Room.
filing of the proposed rule change, the inspection and copying at the principal
Commission may summarily offices of the Exchange. All comments II. Self-Regulatory Organization’s
temporarily suspend such rule change if received will be posted without change; Statement of the Purpose of, and
it appears to the Commission that such the Commission does not edit personal Statutory Basis for, the Proposed Rule
action is: (1) Necessary or appropriate in identifying information from Change
the public interest; (2) for the protection submissions. You should submit only In its filing with the Commission, the
of investors; or (3) otherwise in information that you wish to make Exchange included statements
furtherance of the purposes of the Act. available publicly. All submissions concerning the purpose of and basis for
If the Commission takes such action, the should refer to File Number SR–BATS– the proposed rule change and discussed
Commission shall institute proceedings 2015–54, and should be submitted on or any comments it received on the
to determine whether the proposed rule before August 26, 2015. proposed rule change. The text of these
should be approved or disapproved. For the Commission, by the Division of statements may be examined at the
IV. Solicitation of Comments Trading and Markets, pursuant to delegated places specified in Item IV below. The
authority.19 Exchange has prepared summaries, set
Interested persons are invited to Robert W. Errett, forth in sections A, B, and C below, of
submit written data, views, and Deputy Secretary. the most significant aspects of such
arguments concerning the foregoing, statements.
[FR Doc. 2015–19133 Filed 8–4–15; 8:45 am]
including whether the proposed rule
BILLING CODE 8011–01–P
change is consistent with the Act. A. Self-Regulatory Organization’s
Comments may be submitted by any of Statement of the Purpose of, and
the following methods: Statutory Basis for, the Proposed Rule
SECURITIES AND EXCHANGE
Change
Electronic Comments COMMISSION
• Use the Commission’s Internet [Release No. 34–75568; File No. SR–BX–
1. Purpose
comment form (http://www.sec.gov/ 2015–043] The Exchange is proposing to amend
rules/sro.shtml); or Rule 4703(a) to remove the Market
• Send an email to rule-comments@ Self-Regulatory Organizations; Hours Immediate or Cancel (‘‘Market
sec.gov. Please include File Number SR– NASDAQ OMX BX, Inc.; Notice of Filing Hours IOC’’ or ‘‘MIOC’’) Time-in-Force
BATS–2015–54 on the subject line. and Immediate Effectiveness of and to delay implementation of changes
Proposed Rule Change to Amend Rule to the Good-til-market close (‘‘GTMC’’)
Paper Comments 4703(a) Time-in-Force, which were recently
• Send paper comments in triplicate adopted by BX but are not yet
July 30, 2015.
to Brent J. Fields, Secretary, Securities implemented.3 Time-in-Force (‘‘TIF’’) is
Pursuant to Section 19(b)(1) of the
and Exchange Commission, 100 F Street
Securities Exchange Act of 1934
NE., Washington, DC 20549–1090.
(‘‘Act’’),1 and Rule 19b-4 thereunder,2 3 The Exchange notes that the text at issue in this
All submissions should refer to File notice is hereby given that on July 20, filing concerning the MIOC TIF under Rule
Number SR–BATS–2015–54. This file 4703(a)(1) is not yet implemented, but was recently
2015, NASDAQ OMX BX, Inc. (‘‘BX’’ or inadvertently incorporated into the BX rulebook
number should be included on the ‘‘Exchange’’) filed with the Securities when the Commission approved certain rules
subject line if email is used. To help the and Exchange Commission (‘‘SEC’’ or governing the BX equities market in order to
Commission process and review your
asabaliauskas on DSK5VPTVN1PROD with NOTICES
‘‘Commission’’) the proposed rule provide additional detail and clarity regarding its
comments more efficiently, please use order type functionality. See Securities Exchange
change as described in Items I and II Act Release No. 75291 (June 24, 2015), 80 FR 37698
only one method. The Commission will below, which Items have been prepared (July 1, 2015) (SR–BX–2015–015). Notwithstanding
by the Exchange. The Commission is its inadvertent inclusion in the rulebook, the rule
17 See supra note 7.
publishing this notice to solicit text concerning the MIOC TIF is not yet effective.
18 For purposes only of waiving the operative The Exchange had anticipated implementing the
delay for this proposal, the Commission has MIOC and GTMC changes in the second quarter of
19 17 CFR 200.30–3(a)(12).
considered the proposed rule’s impact on 2015. See Securities Exchange Act Release No.
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See 74638 (April 2, 2015), 80 FR 18890 (April 8, 2015)
15 U.S.C. 78c(f). 2 17 CFR 240.19b-4. (SR–BX–2015–016).
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![Federal Register / Vol. 80, No. 150 / Wednesday, August 5, 2015 / Notices 46619
was filed, or such shorter time as the change should be approved or For the Commission, by the Division of
Commission may designate, if disapproved. Trading and Markets, pursuant to delegated
consistent with the protection of authority.18
investors and the public interest, the IV. Solicitation of Comments Robert W. Errett,
proposed rule change has become Deputy Secretary.
Interested persons are invited to
effective pursuant to Section 19(b)(3)(A) submit written data, views, and [FR Doc. 2015–19134 Filed 8–4–15; 8:45 am]
of the Act 13 and Rule 19b–4(f)(6) arguments concerning the foregoing, BILLING CODE 8011–01–P
thereunder.14 including whether the proposed rule
A proposed rule change filed under change is consistent with the Act.
Comments may be submitted by any of SECURITIES AND EXCHANGE
Rule 19b–4(f)(6) 15 normally does not
the following methods: COMMISSION
become operative prior to 30 days after
the date of the filing. However, pursuant [Release No. 34–75570; File No. SR–Phlx–
to Rule 19b–4(f)(6)(iii),16 the Electronic Comments 2015–49]
Commission may designate a shorter • Use the Commission’s Internet
time if such action is consistent with the Self-Regulatory Organizations;
comment form (http://www.sec.gov/ NASDAQ OMX PHLX LLC; Notice of
protection of investors and the public rules/sro.shtml); or
interest. The Exchange has asked the Designation of a Longer Period for
Commission to waive the 30-day • Send an email to rule-comments@ Commission Action on a Proposed
operative delay so that the proposed sec.gov. Please include File Number SR– Rule Change To Amend and Correct
rule change may become operative BX–2015–043 on the subject line. Rule 1080.07
immediately. The Exchange represents Paper Comments July 30, 2015.
that market participants have not On June 5, 2015, NASDAQ OMX
expressed interest in the MIOC TIF. The • Send paper comments in triplicate PHLX LLC (the ‘‘Exchange’’ or ‘‘Phlx’’)
Exchange therefore argues that waiver of to Secretary, Securities and Exchange filed with the Securities and Exchange
the operative delay is consistent with Commission, 100 F Street, NE., Commission (‘‘Commission’’), pursuant
the protection of investors and the Washington, DC 20549–1090. to Section 19(b)(1) of the Securities
public interest because it will allow the Exchange Act of 1934 (‘‘Act’’) 1 and Rule
All submissions should refer to File
Exchange to remove the MIOC TIF prior 19b–4 thereunder,2 a proposed rule
Number SR–BX–2015–043. This file
its implementation, thereby serving to change to amend and correct several
number should be included on the
avoid investor confusion. The Exchange provisions in Phlx Rule 1080.07, which
subject line if email is used. To help the
also reasons that waiving the operative governs the trading of Complex Orders
Commission process and review your
delay would allow the Exchange to on Phlx XL. The proposed rule change
comments more efficiently, please use
make the required technical and was published for comment in the
operational changes to the GTMC TIF only one method. The Commission will
post all comments on the Commission’s Federal Register on June 23, 2015.3 The
after the reconstitution of the Russell Commission received no comments
Indexes. Based on the foregoing, the Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the regarding the proposal.
Commission finds that waiving the 30- Section 19(b)(2) of the Act 4 provides
day operative delay is consistent with submission, all subsequent
amendments, all written statements that within 45 days of the publication of
the protection of investors and the notice of the filing of a proposed rule
public interest and hereby designates with respect to the proposed rule
change that are filed with the change, or within such longer period up
the proposal operative upon filing.17 to 90 days as the Commission may
Commission, and all written
At any time within 60 days of the communications relating to the designate if it finds such longer period
filing of the proposed rule change, the proposed rule change between the to be appropriate and publishes its
Commission summarily may Commission and any person, other than reasons for so finding or as to which the
temporarily suspend such rule change if those that may be withheld from the self-regulatory organization consents,
it appears to the Commission that such public in accordance with the the Commission shall either approve the
action is necessary or appropriate in the provisions of 5 U.S.C. 552, will be proposed rule change, disapprove the
public interest, for the protection of available for Web site viewing and proposed rule change, or institute
investors, or otherwise in furtherance of printing in the Commission’s Public proceedings to determine whether the
the purposes of the Act. If the Reference Room, 100 F Street, NE., proposed rule change should be
Commission takes such action, the Washington, DC 20549 on official disapproved. The 45th day for this filing
Commission shall institute proceedings business days between the hours of is August 7, 2015.
to determine whether the proposed rule 10:00 a.m. and 3:00 p.m. Copies of such The Commission is extending the 45-
filing also will be available for day period for Commission action on
13 15 U.S.C. 78s(b)(3)(A). inspection and copying at the principal the proposed rule change. The
14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
offices of the Exchange. All comments Commission finds that it is appropriate
4(f)(6)(iii) requires the Exchange to give the to designate a longer period within
Commission written notice of the Exchange’s intent received will be posted without change;
to file the proposed rule change, along with a brief the Commission does not edit personal which to take action on the proposed
description and text of the proposed rule change, identifying information from rule change. In particular, the extension
asabaliauskas on DSK5VPTVN1PROD with NOTICES
at least five business days prior to the date of filing
submissions. You should submit only of time will ensure that the Commission
of the proposed rule change, or such shorter time has sufficient time to consider and take
as designated by the Commission. The Exchange information that you wish to make
has satisfied this requirement. available publicly. All submissions action on the Exchange’s proposal.
15 17 CFR 240.19b–4(f)(6).
should refer to File Number SR–BX– 1 15
16 17 CFR 240.19b–4(f)(6)(iii). U.S.C. 78s(b)(1).
2015–043, and should be submitted on 2 17
17 For purposes only of waiving the 30-day CFR 240.19b–4.
or before August 26, 2015. 3 See Securities Exchange Act Release No. 75189
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition, (June 17, 2015), 80 FR 35997.
and capital formation. See 15 U.S.C. 78c(f). 18 17 CFR 200.30–3(a)(12), (59). 4 15 U.S.C. 78s(b)(2).
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Document Created: 2018-02-23 10:53:22
Document Modified: 2018-02-23 10:53:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| FR Citation | 80 FR 46617 |
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