80 FR 47966 - Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGA Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 153 (August 10, 2015)
Federal Register Volume 80, Issue 153 (August 10, 2015)
| Page Range | 47966-47968 | |
| FR Document | 2015-19534 |
[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)] [Notices] [Pages 47966-47968] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19534] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75593; File No. SR-EDGA-2015-29] Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGA Exchange, Inc. August 4, 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 July 28, 2015, EDGA Exchange, Inc. (the ``Exchange'' or ``EDGA'') filed with the Securities and Exchange Commission (``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 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 its fees and rebates applicable to Members \5\ of the Exchange pursuant to EDGA Rule 15.1(a) and (c) (``Fee Schedule'') to: (i) To remove fee codes 5, EA, and ER which are appended to trades that inadvertently match against each other and share the same Market Participant Identifier (``MPID'') (``Internalized Trade''); and (ii) amend the criteria for the MidPoint Discretionary Order Add Volume Tier. --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer, or any person associated with a registered broker or dealer, that has been admitted to membership in the Exchange. A Member will have the status of a ``member'' of the Exchange as that term is defined in Section 3(a)(3) of the Act.'' 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: (i) To remove fee codes 5, EA, and ER which are appended to Internalized Trades; and (ii) amend the criteria for the MidPoint Discretionary Order Add Volume Tier. Fee Codes 5, EA, and ER The Exchange proposes to remove fee codes 5, EA, and ER which are appended to Internalized Trades as well as footnote 13. During Regular Trading Hours,\6\ fee code EA is appended to side of an Internalized Trade that adds liquidity while fee code ER is appended to the side of an Internalized Trade that removes liquidity. Fee code 5 is appended to Internalized Trades that add or remove liquidity during the Pre-Opening \7\ and Post-Closing Sessions.\8\ Orders that yield fee codes 5, EA, or ER are charged a fee of $0.00015 per share in securities priced at or above $1.00 and are charged no fee in securities priced below $1.00. Going forward, each side of an Internalized Trade will be subject to the Exchange's standard fees or rebates. Under the Exchange's standard rates, a rebate of $0.0002 per share is provided to orders that remove liquidity in securities priced at or above $1.00. For orders that add liquidity, a charge of $0.0005 per share is applied for orders in securities priced at or above $1.00, unless the Member qualifies for a decreased fee. Orders in securities priced below $1.00 are free, regardless of whether they add or remove liquidity. --------------------------------------------------------------------------- \6\ The ``Regular Trading Hours'' is defined as ``the time between 9:30 a.m. and 4:00 p.m. Eastern Time.'' See Exchange Rule 1.5(y). \7\ The ``Pre-Opening Session'' is defined as ``the time between 8:00 a.m. and 9:30 a.m. Eastern Time.'' See Exchange Rule 1.5(r). \8\ The ``Post-Closing Session'' is defined as ``the time between 4:00 p.m. and 8:00 p.m. Eastern Time.'' See Exchange Rule 1.5(s). --------------------------------------------------------------------------- The Exchange also proposes to delete footnote 13, which states that a Member's monthly volume attributed to fee code 5 will be allocated accordingly between the added fee codes and removal fee codes when determining whether that Member satisfied a certain tier. The Exchange proposes to delete footnote 13 as it will no longer be necessary once fee code 5 is deleted. MidPoint Discretionary Order Add Volume Tier The Exchange proposes to amend the criteria for the MidPoint Discretionary Order Add Volume Tier. Under the tier, a Member qualifies for a reduced fee of $0.0003 per share where that Member: (i) Adds an ADV of at least 0.20% of the TCV including non-displayed orders that add liquidity; and (ii) adds or removes an ADV of at least 500,000 shares yielding fee codes DM or DT. Fee code DM is applied to non- displayed orders that add liquidity using MidPoint Discretionary Orders \9\ and fee code DT is applied to non-displayed orders that remove liquidity using MidPoint Discretionary Orders. Orders that yield fee code DM or fee code DT that do not meet to the criteria of the MidPoint Discretionary Order Add Volume Tier [[Page 47967]] are charged a fee of $0.00050 per share. The Exchange now proposes to decrease the TCV requirement to require that a Member adds an ADV of at least 0.15% of the TCV including non-displayed orders that add liquidity. Easing the criteria of the MidPoint Discretionary Order Add Volume Tier is intended to further incentive Members to submit an increased number of MidPoint Discretionary Orders to the Exchange, thereby increasing the liquidity on the Exchange at the midpoint of the National Best Bid or Offer (``NBBO''). --------------------------------------------------------------------------- \9\ See Exchange Rule 11.8(e) for a description of MidPoint Discretionary Orders. --------------------------------------------------------------------------- Implementation Date The Exchange proposes to implement these amendments to its Fee Schedule on August 3, 2015. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\10\ in general, and furthers the objectives of Section 6(b)(4),\11\ 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 proposed rule change reflects a competitive pricing structure designed to incent market participants to direct their order flow to the Exchange. The Exchange believes that the proposed rates are equitable and non-discriminatory in that they apply uniformly to all Members. The Exchange believes the fees and credits remain competitive with those charged by other venues and therefore continue to be reasonable and equitably allocated to Members. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f. \11\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- Fee Codes 5, EA, and ER The Exchange believes that its proposal to delete fee codes 5, EA, and ER, as well as footnote 13 represents an equitable allocation of reasonable dues, fees, and other charges among Members and other persons using its facilities. The Exchange notes that other exchanges do not charge separate fees for their member's Internalized Trades, thereby subjecting such trades to their standard fees and rebates.\12\ In addition, the proposed fees for Internalized Trades are designed to continue to discourage Members from inadvertently matching their buy and sell orders with one another. Internalized Trades would now be subject to the Exchange's standard fees or rebates, therefore subjecting such trades to the Exchange's current maker/taker spreads.\13\ The charge for Members inadvertently matching with themselves is equal to and continues to be no more favorable than the Exchange's maker/taker spread, enabling the Exchange to continue to discourage potential wash sales. The Exchange also believes that the proposed amendments are non-discriminatory because they will be apply to all Members uniformly. --------------------------------------------------------------------------- \12\ Both the Nasdaq Stock Market LLC (``Nasdaq'') and the New York Stock Exchange, Inc. (``NYSE'') do not charge separate or different fees for Internalized Trades. See the Nasdaq Price List-- Trading Connectivity, available at http://www.nasdaqtrader.com/Trader.aspx?id=PriceListTrading2 (last visited July 28, 2015); and NYSE Trading Fees available at https://www.nyse.com/markets/nyse/trading-info/fees (last visited July 28, 2015). \13\ The Exchange's standard rates result in a maker/taker spread of $0.0003 per share ($0.0005 (fee)--$0.0002 (rebate) = $0.0003), equal to the total fee for an Internalized Trade that yields fee codes EA and ER ($0.00015 (fee) + $0.00015 (fee) = $0.0003). The Exchange will continue to ensure that the fees applicable to Internalized Trades are no more favorable than the Exchange's prevailing maker/taker spread. --------------------------------------------------------------------------- MidPoint Discretionary Order Add Volume Tier The Exchange believes amending the criteria for the MidPoint Discretionary Order Add Volume Tier represents an equitable allocation of reasonable dues, fees, and other charges among Members and other persons using its facilities because it is designed to further incentivize Members to increase their use of MidPoint Discretionary Orders on EDGA. MidPoint Discretionary Orders increase displayed liquidity on the Exchange while also enhancing execution opportunities at the midpoint of the NBBO. Promotion of displayed liquidity at the NBBO enhances market quality for all Members. Members utilizing MidPoint Discretionary Orders provide liquidity at the midpoint of the NBBO increasing the potential for an order to receive price improvement, and easing the tier's criteria so that Members may be eligible for a decreased fee is a reasonable means by which to encourage the use of such orders. In addition, the Exchange believes that by encouraging the use of MidPoint Discretionary Orders by easing the tier's criteria, Members seeking price improvement would be more motivated to direct their orders to EDGA because they would have a heightened expectation of the availability of liquidity at the midpoint of the NBBO. The Exchange also believes that the proposed amendment to the MidPoint Discretionary Order Add Volume Tier is non-discriminatory because it will be available to all Members. (B) Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes its proposed amendments to its Fee Schedule would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that the proposed change represents a significant departure from previous pricing offered by the Exchange or pricing offered by the Exchange's competitors. Additionally, Members may opt to disfavor the Exchange's pricing if they believe that alternatives offer them better value. 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. Fee Codes 5, EA, and ER The Exchange believes that its proposal to delete fee codes 5, EA, and ER, as well as footnote 13 will not burden intermarket or intramarket competition as Internalized Trades would be subject to the Exchange's standard fee sand rebates resulting in rates for Internalized Trades that are equal to and no more favorable than Members achieving the maker/taker spreads between the Exchange's standard add and remove rates. The Exchange believes that its proposal would not burden intramarket competition because the proposed rebate would apply uniformly to all Members. MidPoint Discretionary Order Add Volume Tier The Exchange believes that its proposal to ease the criteria for the MidPoint Discretionary Order Add Volume Tier would increase intermarket competition because it would further incentivize Members to send an increased amount MidPoint Discretionary Orders to the Exchange in order to qualify for the tier's decreased fee. The Exchange believes that its proposal would neither increase nor decrease intramarket competition because the MidPoint Discretionary Order Add Volume Tier would apply uniformly to all Members and the ability of some Members to meet the tier would only benefit other Members by contributing to increased liquidity at the midpoint of the NBBO and better market quality at the Exchange. [[Page 47968]] (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 unsolicited 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 \14\ and paragraph (f) of Rule 19b-4 thereunder.\15\ 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. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 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 [email protected]. Please include File Number SR-EDGA-2015-29 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-EDGA-2015-29. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available for inspection and copying at the 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-EDGA-2015-29 and should be submitted on or before August 31, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\16\ --------------------------------------------------------------------------- \16\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-19534 Filed 8-7-15; 8:45 am] BILLING CODE 8011-01-P
![47966 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
Commission, and all written proposed rule change effective upon Hours,6 fee code EA is appended to side
communications relating to the filing with the Commission. The of an Internalized Trade that adds
proposed rule change between the Commission is publishing this notice to liquidity while fee code ER is appended
Commission and any person, other than solicit comments on the proposed rule to the side of an Internalized Trade that
those that may be withheld from the change from interested persons. removes liquidity. Fee code 5 is
public in accordance with the appended to Internalized Trades that
I. Self-Regulatory Organization’s
provisions of 5 U.S.C. 552, will be add or remove liquidity during the Pre-
Statement of the Terms of Substance of
available for Web site viewing and Opening 7 and Post-Closing Sessions.8
the Proposed Rule Change
printing in the Commission’s Public Orders that yield fee codes 5, EA, or ER
Reference Room, 100 F Street NE., The Exchange filed a proposal to are charged a fee of $0.00015 per share
Washington, DC 20549, on official amend its fees and rebates applicable to in securities priced at or above $1.00
business days between the hours of Members 5 of the Exchange pursuant to and are charged no fee in securities
10:00 a.m. and 3:00 p.m. Copies of the EDGA Rule 15.1(a) and (c) (‘‘Fee priced below $1.00. Going forward, each
filing will also be available for Schedule’’) to: (i) To remove fee codes side of an Internalized Trade will be
inspection and copying at the principal 5, EA, and ER which are appended to subject to the Exchange’s standard fees
office of the Exchange. All comments trades that inadvertently match against or rebates. Under the Exchange’s
received will be posted without change; each other and share the same Market standard rates, a rebate of $0.0002 per
the Commission does not edit personal Participant Identifier (‘‘MPID’’) share is provided to orders that remove
identifying information from (‘‘Internalized Trade’’); and (ii) amend liquidity in securities priced at or above
submissions. You should submit only the criteria for the MidPoint $1.00. For orders that add liquidity, a
information that you wish to make Discretionary Order Add Volume Tier. charge of $0.0005 per share is applied
available publicly. All submissions The text of the proposed rule change for orders in securities priced at or
should refer to File Number SR–EDGX– is available at the Exchange’s Web site above $1.00, unless the Member
2015–35 and should be submitted on or at www.batstrading.com, at the qualifies for a decreased fee. Orders in
before August 31, 2015. principal office of the Exchange, and at securities priced below $1.00 are free,
the Commission’s Public Reference regardless of whether they add or
For the Commission, by the Division of
Trading and Markets, pursuant to delegated Room. remove liquidity.
authority.14 II. Self-Regulatory Organization’s The Exchange also proposes to delete
Robert W. Errett, Statement of the Purpose of, and footnote 13, which states that a
Deputy Secretary. Statutory Basis for, the Proposed Rule Member’s monthly volume attributed to
[FR Doc. 2015–19535 Filed 8–7–15; 8:45 am] Change fee code 5 will be allocated accordingly
between the added fee codes and
BILLING CODE 8011–01–P In its filing with the Commission, the removal fee codes when determining
Exchange included statements whether that Member satisfied a certain
concerning the purpose of and basis for tier. The Exchange proposes to delete
SECURITIES AND EXCHANGE the proposed rule change and discussed
COMMISSION footnote 13 as it will no longer be
any comments it received on the necessary once fee code 5 is deleted.
[Release No. 34–75593; File No. SR–EDGA– proposed rule change. The text of these
2015–29] statements may be examined at the MidPoint Discretionary Order Add
places specified in Item IV below. The Volume Tier
Self-Regulatory Organizations; EDGA Exchange has prepared summaries, set The Exchange proposes to amend the
Exchange, Inc.; Notice of Filing and forth in Sections A, B, and C below, of criteria for the MidPoint Discretionary
Immediate Effectiveness of a Proposed the most significant parts of such Order Add Volume Tier. Under the tier,
Rule Change Related to Fees for Use statements. a Member qualifies for a reduced fee of
of EDGA Exchange, Inc. $0.0003 per share where that Member:
(A) Self-Regulatory Organization’s
August 4, 2015. (i) Adds an ADV of at least 0.20% of the
Statement of the Purpose of, and
Pursuant to Section 19(b)(1) of the TCV including non-displayed orders
Statutory Basis for, the Proposed Rule that add liquidity; and (ii) adds or
Securities Exchange Act of 1934 (the Change
‘‘Act’’),1 and Rule 19b–4 thereunder,2 removes an ADV of at least 500,000
notice is hereby given that on July 28, 1. Purpose shares yielding fee codes DM or DT. Fee
2015, EDGA Exchange, Inc. (the The Exchange proposes to: (i) To code DM is applied to non-displayed
‘‘Exchange’’ or ‘‘EDGA’’) filed with the remove fee codes 5, EA, and ER which orders that add liquidity using MidPoint
Securities and Exchange Commission are appended to Internalized Trades; Discretionary Orders 9 and fee code DT
(‘‘Commission’’) the proposed rule and (ii) amend the criteria for the is applied to non-displayed orders that
change as described in Items I, II and III MidPoint Discretionary Order Add remove liquidity using MidPoint
below, which Items have been prepared Volume Tier. Discretionary Orders. Orders that yield
by the Exchange. The Exchange has fee code DM or fee code DT that do not
Fee Codes 5, EA, and ER meet to the criteria of the MidPoint
designated the proposed rule change as
The Exchange proposes to remove fee Discretionary Order Add Volume Tier
one establishing or changing a member
due, fee, or other charge imposed by the codes 5, EA, and ER which are
6 The ‘‘Regular Trading Hours’’ is defined as ‘‘the
Exchange under Section 19(b)(3)(A)(ii) appended to Internalized Trades as well time between 9:30 a.m. and 4:00 p.m. Eastern
of the Act 3 and Rule 19b–4(f)(2) as footnote 13. During Regular Trading Time.’’ See Exchange Rule 1.5(y).
tkelley on DSK3SPTVN1PROD with NOTICES
thereunder,4 which renders the 7 The ‘‘Pre-Opening Session’’ is defined as ‘‘the
5 The term ‘‘Member’’ is defined as ‘‘any time between 8:00 a.m. and 9:30 a.m. Eastern
14 17 registered broker or dealer, or any person associated Time.’’ See Exchange Rule 1.5(r).
CFR 200.30–3(a)(12). 8 The ‘‘Post-Closing Session’’ is defined as ‘‘the
1 15 U.S.C. 78s(b)(1).
with a registered broker or dealer, that has been
admitted to membership in the Exchange. A time between 4:00 p.m. and 8:00 p.m. Eastern
2 17 CFR 240.19b–4.
Member will have the status of a ‘‘member’’ of the Time.’’ See Exchange Rule 1.5(s).
3 15 U.S.C. 78s(b)(3)(A)(ii).
Exchange as that term is defined in Section 3(a)(3) 9 See Exchange Rule 11.8(e) for a description of
4 17 CFR 240.19b–4(f)(2). of the Act.’’ See Exchange Rule 1.5(n). MidPoint Discretionary Orders.
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![47968 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
(C) Self-Regulatory Organization’s Commission and any person, other than with language indicating the fees for
Statement on Comments on the those that may be withheld from the NASDAQ Last Sale Plus (‘‘NLS Plus’’),
Proposed Rule Change Received From public in accordance with the a comprehensive data feed offered by
Members, Participants or Others provisions of 5 U.S.C. 552, will be NASDAQ OMX Information LLC.3
The Exchange has not solicited, and available for Web site viewing and The text of the proposed rule change
does not intend to solicit, comments on printing in the Commission’s Public is available on the Exchange’s Web site
this proposed rule change. The Reference Room, 100 F Street NE., at http://nasdaq.cchwallstreet.com, at
Exchange has not received any Washington, DC 20549, on official the principal office of the Exchange, and
unsolicited written comments from business days between the hours of at the Commission’s Public Reference
Members or other interested parties. 10:00 a.m. and 3:00 p.m. Copies of the Room.
filing will also be available for
III. Date of Effectiveness of the II. Self-Regulatory Organization’s
inspection and copying at the principal
Proposed Rule Change and Timing for Statement of the Purpose of, and
office of the Exchange. All comments
Commission Action Statutory Basis for, the Proposed Rule
received will be posted without change;
Change
The foregoing rule change has become the Commission does not edit personal
effective pursuant to Section 19(b)(3)(A) identifying information from In its filing with the Commission, the
of the Act 14 and paragraph (f) of Rule submissions. You should submit only Exchange included statements
19b–4 thereunder.15 At any time within information that you wish to make concerning the purpose of and basis for
60 days of the filing of the proposed rule available publicly. All submissions the proposed rule change and discussed
change, the Commission summarily may should refer to File Number SR–EDGA– any comments it received on the
temporarily suspend such rule change if 2015–29 and should be submitted on or proposed rule change. The text of these
it appears to the Commission that such before August 31, 2015. statements may be examined at the
action is necessary or appropriate in the For the Commission, by the Division of
places specified in Item IV below. The
public interest, for the protection of Trading and Markets, pursuant to delegated Exchange has prepared summaries, set
investors, or otherwise in furtherance of authority.16 forth in sections A, B, and C below, of
the purposes of the Act. Robert W. Errett, the most significant aspects of such
Deputy Secretary. statements.
IV. Solicitation of Comments
[FR Doc. 2015–19534 Filed 8–7–15; 8:45 am] A. Self-Regulatory Organization’s
Interested persons are invited to Statement of the Purpose of, and
BILLING CODE 8011–01–P
submit written data, views, and Statutory Basis for, the Proposed Rule
arguments concerning the foregoing, Change
including whether the proposed rule SECURITIES AND EXCHANGE
change is consistent with the Act. COMMISSION 1. Purpose
Comments may be submitted by any of The purpose of this proposal is to
the following methods: [Release No. 34–75600; File No. SR–
NASDAQ–2015–088] amend Rule 7039 with language
Electronic Comments indicating the fees for NLS Plus. NLS
Self-Regulatory Organizations; The Plus allows data distributors to access
• Use the Commission’s Internet the three last sale products offered by
comment form (http://www.sec.gov/ NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of each of NASDAQ OMX’s three U.S.
rules/sro.shtml); or equity markets.4 Thus, in offering NLS
• Send an email to rule-comments@ Proposed Rule Change Regarding
NASDAQ Last Sale Plus Plus, NASDAQ OMX Information LLC is
sec.gov. Please include File Number SR–
acting as a redistributor of last sale
EDGA–2015–29 on the subject line. August 4, 2015. products already offered by NASDAQ,
Paper Comments Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
• Send paper comments in triplicate
3 NASDAQ OMX Information LLC is a subsidiary
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 of The NASDAQ OMX Group, Inc. (‘‘NASDAQ
to Brent J. Fields, Secretary, Securities notice is hereby given that on July 24, OMX’’).
and Exchange Commission, 100 F Street 2015, The NASDAQ Stock Market LLC 4 The NASDAQ OMX U.S. equity markets include
NE., Washington, DC 20549–1090. (‘‘NASDAQ’’ or ‘‘Exchange’’) filed with
The NASDAQ Stock Market (‘‘NASDAQ’’),
NASDAQ OMX BX (‘‘BX’’), and NASDAQ OMX
All submissions should refer to File the Securities and Exchange PSX (‘‘PSX’’) (together known as the ‘‘NASDAQ
Number SR–EDGA–2015–29. This file Commission (‘‘SEC’’ or ‘‘Commission’’) OMX equity markets’’). PSX and BX will shortly file
number should be included on the the proposed rule change as described companion proposals regarding data feeds similar
subject line if email is used. To help the to NLS Plus. NASDAQ’s last sale product, NASDAQ
in Items I, II, and III, below, which Items Last Sale, includes last sale information from the
Commission process and review your have been prepared by the Exchange. FINRA/NASDAQ Trade Reporting Facility
comments more efficiently, please use The Commission is publishing this (‘‘FINRA/NASDAQ TRF’’), which is jointly
only one method. The Commission will notice to solicit comments on the operated by NASDAQ and the Financial Industry
post all comments on the Commission’s Regulatory Authority (‘‘FINRA’’). See Securities
proposed rule change from interested Exchange Act Release No. 71350 (January 17, 2014),
Internet Web site (http://www.sec.gov/ persons. 79 FR 4218 (January 24, 2014) (SR–FINRA–2014–
rules/sro.shtml). Copies of the 002). For proposed rule changes submitted with
submission, all subsequent I. Self-Regulatory Organization’s respect to NASDAQ Last Sale, BX Last Sale, and
amendments, all written statements Statement of the Terms of Substance of PSX Last Sale, see, e.g., Securities Exchange Act
with respect to the proposed rule the Proposed Rule Change Release Nos. 57965 (June 16, 2008), 73 FR 35178,
(June 20, 2008) (SR–NASDAQ–2006–060) (order
tkelley on DSK3SPTVN1PROD with NOTICES
change that are filed with the The Exchange proposes to amend approving NASDAQ Last Sale data feeds pilot);
Commission, and all written Rule 7039 (NASDAQ Last Sale and 61112 (December 4, 2009), 74 FR 65569, (December
communications relating to the NASDAQ Last Sale Plus Data Feeds) 10, 2009) (SR–BX–2009–077) (notice of filing and
immediate effectiveness regarding BX Last Sale data
proposed rule change between the feeds); and 62876 (September 9, 2010), 75 FR
16 17 CFR 200.30–3(a)(12). 56624, (September 16, 2010) (SR–Phlx–2010–120)
14 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). (notice of filing and immediate effectiveness
15 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. regarding PSX Last Sale data feeds).
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Document Created: 2015-12-15 12:11:52
Document Modified: 2015-12-15 12:11:52
| 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 47966 |
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