80 FR 47976 - Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Revisions to the Electronic Municipal Market Access System, Real-Time Transaction Reporting System and Short-Term Obligation Rate Transparency System
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 153 (August 10, 2015)
Federal Register Volume 80, Issue 153 (August 10, 2015)
| Page Range | 47976-47978 | |
| FR Document | 2015-19539 |
[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)] [Notices] [Pages 47976-47978] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-19539] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-75602; File No. SR-MSRB-2015-06] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Consisting of Revisions to the Electronic Municipal Market Access System, Real-Time Transaction Reporting System and Short-Term Obligation Rate Transparency System 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 23, 2015, the Municipal Securities Rulemaking Board (the ``MSRB'' or ``Board'') filed with the Securities and Exchange Commission (the ``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the MSRB. 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 MSRB filed with the Commission a proposed rule change relating to the MSRB's Electronic Municipal Market Access (``EMMA'') system, Real-time Transaction Reporting System (``RTRS''), and Short-Term Obligation Rate Transparency (``SHORT'') system. The proposed rule change consists of revisions to the facilities for the EMMA system, RTRS, and SHORT system to better align the language of the information facilities to the MSRB's administration of these systems. The proposed rule change adds references to the MSRB's core operational hours, clarifies the twenty-four hours a day, seven days a week (``24/7'') availability of many aspects of the MSRB's systems, and makes minor changes of a technical nature. The MSRB has filed the proposed rule change under Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b- 4(f)(6) \4\ thereunder, as a noncontroversial rule change that renders the proposal effective upon filing. The proposed rule change would be made operative on August 24, 2015. --------------------------------------------------------------------------- \3\ 15 U.S.C. 78s(b)(3)(A)(iii). \4\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- The text of the proposed rule change is available on the MSRB's Web site at www.msrb.org/Rules-and-Interpretations/SEC-Filings/2015-Filings.aspx, at the MSRB's principal office, 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 MSRB 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 MSRB 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 EMMA system is an information facility for the collection and dissemination of municipal securities disclosure documents and related information. The EMMA system includes a public Web site, the EMMA portal, which provides for free public access to disclosures and transparency information for municipal securities. RTRS is an information facility for the collection and dissemination of information about transactions occurring in the municipal securities market. The SHORT system is an information facility for the collection and dissemination of information and disclosure documents about securities bearing interest at short-term rates (auction rate securities and variable-rate demand obligations). The information facilities for the EMMA system, RTRS, and SHORT system serve to outline the high level parameters by which the MSRB operates these systems. The purpose of the proposed rule change is to better align the language of the information facilities for the EMMA system, RTRS, and SHORT system to the MSRB's administration of these systems. The proposed rule change would add references to the MSRB's core operational hours, clarify the 24/7 availability of many aspects of the MSRB's systems and make minor changes of a technical nature to these information facilities. These changes are more fully described below. MSRB Core Operational Hours The MSRB maintains core operational hours for its transparency systems of [[Page 47977]] 7:00 a.m. to 7:00 p.m. Eastern Time on business days, which exclude weekends and holidays identified on the MSRB System Holiday Schedule published on the MSRB Web site. Core operational hours are consistent across the EMMA system, RTRS, and SHORT system and represent those hours when the MSRB's resources will be more readily available as compared with other hours to respond to inquiries and incidents experienced by users of the MSRB's systems. When the MSRB performs system maintenance that risks a reduction in the level of system performance, the MSRB schedules such maintenance whenever possible to occur outside of core operational hours. The MSRB's core operational hours reflect the time period when nearly all information and disclosure documents are submitted to the EMMA system, RTRS, or SHORT system. Over the MSRB's two prior fiscal years ended September 30, 2014, the EMMA system received 97.4% of all submissions of disclosure documents, the RTRS received 99.3% of all submissions of information, and the SHORT system received 99.6% of all submissions of information and 99.8% of all submissions of disclosure documents during the hours of 7:00 a.m. to 7:00 p.m. Eastern Time on business days. The information facilities for the EMMA and SHORT systems currently note that the systems are expected to operate at the highest performance during the hours of 8:30 a.m. to 6:00 p.m. Eastern Time. The RTRS information facility does not specifically reference the timeframe in which the system experiences the highest performance. The proposed rule change would provide that the core operational hours for each system, the EMMA system, RTRS, and SHORT system, are 7:00 a.m. to 7:00 p.m. Eastern Time. 24/7 System Availability Many aspects of the EMMA system, RTRS, and SHORT system have 24/7 availability. Since implementation of the EMMA and SHORT systems, the MSRB has maintained, as 24/7 services, the EMMA portal and the submission processes for submitting disclosure documents to the EMMA and SHORT systems. The RTRS web interface also has been maintained for brokers, dealers and municipal securities dealers (``dealers'') to view their submitted trade data on a 24/7 basis since 2007.\5\ The proposed rule change would formally highlight that the MSRB maintains these aspects of the EMMA system, RTRS, and SHORT system as 24/7 services. --------------------------------------------------------------------------- \5\ See ``RTRS Web Enhancement: Extended Hours,'' MSRB Notice 2007-26 (August 22, 2007). --------------------------------------------------------------------------- Technological advancements to MSRB transparency systems enable the MSRB to conduct routine maintenance and system upgrades in a manner that is seamless to users. Nonetheless, on rare occasions system maintenance or upgrades may require the MSRB to schedule a system outage, which, to the extent feasible, would be scheduled outside of core operational hours. In addition, in the event of a cyber attack or security issue, the MSRB may need to make components of MSRB transparency systems unavailable to ensure the integrity of the systems. Accordingly, the amendments further clarify the MSRB's ability to make services unavailable outside of core operational hours for required maintenance, upgrades or other purposes, or at other times as needed to ensure the integrity of MSRB systems. Minor Changes of a Technical Nature The proposed rule change includes three minor changes of a technical nature. First, the EMMA system enables users to request periodic email alerts based on the reporting of trade data or availability of disclosure documents for a specific security. The EMMA system's information facility language currently does not reflect all of the information and disclosures for which a user can request an email alert; the proposed rule change clarifies the availability of this service. Second, the information facilities for the EMMA system, RTRS, and SHORT system currently use inconsistent abbreviations for ante meridiem and post meridiem as well as inconsistent references that the time noted shall reflect Eastern Time; the proposed rule change would state all time conventions in a consistent manner. Third, the proposed rule change would correct a reference in the SHORT system information facility regarding future subscription products as the MSRB has since made such subscription products available. 2. Statutory Basis The MSRB believes that the proposed rule change is consistent with the provisions of Section 15B(b)(2)(C) of the Act,\6\ which provides that the MSRB's rules shall: --------------------------------------------------------------------------- \6\ 15 U.S.C. 78o-4(b)(2)(C). 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 facilitating transactions in municipal securities and municipal financial products, to remove impediments to and perfect the mechanism of a free and open market in municipal securities and municipal financial products, and, in general, to protect investors, --------------------------------------------------------------------------- municipal entities, obligated persons, and the public interest. The proposed rule change would contribute to the MSRB's continuing efforts to improve market transparency and to protect investors, municipal entities, obligated persons and the public interest. The MSRB believes that users of MSRB transparency systems will benefit from a clearer understanding of the MSRB's administration of these systems. B. Self-Regulatory Organization's Statement on Burden on Competition The proposed rule change consists of revisions to the information facilities for the EMMA system, RTRS, and SHORT system to better align the language of the information facilities to the MSRB's administration of these systems. The proposed rule change seeks to clarify existing services and make minor changes of a technical nature to the information facilities. The proposed rule change will not modify the manner in which the MSRB administers these systems. Accordingly, the MSRB 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 Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing 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 was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b- 4(f)(6) thereunder.\8\ --------------------------------------------------------------------------- \7\ 15 U.S.C. 78s(b)(3)(A). \8\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- 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 [[Page 47978]] public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-MSRB-2015-06 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549. All submissions should refer to File Number SR-MSRB-2015-06. 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 also will be available for inspection and copying at the principal office of the MSRB. 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-MSRB-2015-06 and should be submitted on or before August 31, 2015. For the Commission, pursuant to delegated authority.\9\ --------------------------------------------------------------------------- \9\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-19539 Filed 8-7-15; 8:45 am] BILLING CODE 8011-01-P
![47976 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
Electronic Comments SECURITIES AND EXCHANGE www.msrb.org/Rules-and-
COMMISSION Interpretations/SEC-Filings/2015-
• Use the Commission’s Internet Filings.aspx, at the MSRB’s principal
comment form (http://www.sec.gov/ [Release No. 34–75602; File No. SR–MSRB–
2015–06]
office, and at the Commission’s Public
rules/sro.shtml); or Reference Room.
• Send an email to rule-comments@ Self-Regulatory Organizations; II. Self-Regulatory Organization’s
sec.gov. Please include File Number SR– Municipal Securities Rulemaking Statement of the Purpose of, and
NASDAQ–2015–087 on the subject line. Board; Notice of Filing and Immediate Statutory Basis for, the Proposed Rule
Effectiveness of a Proposed Rule Change
Paper Comments Change Consisting of Revisions to the
Electronic Municipal Market Access In its filing with the Commission, the
• Send paper comments in triplicate MSRB included statements concerning
to Secretary, Securities and Exchange System, Real-Time Transaction
Reporting System and Short-Term the purpose of and basis for the
Commission, 100 F Street NE., proposed rule change and discussed any
Washington, DC 20549–1090. Obligation Rate Transparency System
comments it received on the proposed
All submissions should refer to File August 4, 2015. rule change. The text of these statements
Number SR–NASDAQ–2015–087. This Pursuant to Section 19(b)(1) of the may be examined at the places specified
file number should be included on the Securities Exchange Act of 1934 (the in Item IV below. The MSRB has
subject line if email is used. To help the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 prepared summaries, set forth in
notice is hereby given that on July 23, Sections A, B, and C below, of the most
Commission process and review your
2015, the Municipal Securities significant aspects of such statements.
comments more efficiently, please use
Rulemaking Board (the ‘‘MSRB’’ or
only one method. The Commission will ‘‘Board’’) filed with the Securities and A. Self-Regulatory Organization’s
post all comments on the Commission’s Exchange Commission (the ‘‘SEC’’ or Statement of the Purpose of, and
Internet Web site (http://www.sec.gov/ ‘‘Commission’’) the proposed rule Statutory Basis for, the Proposed Rule
rules/sro.shtml). Copies of the change as described in Items I, II, and Change
submission, all subsequent III below, which Items have been 1. Purpose
amendments, all written statements prepared by the MSRB. The
with respect to the proposed rule The EMMA system is an information
Commission is publishing this notice to
change that are filed with the facility for the collection and
solicit comments on the proposed rule
Commission, and all written dissemination of municipal securities
change from interested persons.
communications relating to the disclosure documents and related
I. Self-Regulatory Organization’s information. The EMMA system
proposed rule change between the
Statement of the Terms of Substance of includes a public Web site, the EMMA
Commission and any person, other than
the Proposed Rule Change portal, which provides for free public
those that may be withheld from the access to disclosures and transparency
public in accordance with the The MSRB filed with the Commission
a proposed rule change relating to the information for municipal securities.
provisions of 5 U.S.C. 552, will be RTRS is an information facility for the
available for Web site viewing and MSRB’s Electronic Municipal Market
Access (‘‘EMMA’’) system, Real-time collection and dissemination of
printing in the Commission’s Public information about transactions
Reference Room, 100 F Street NE., Transaction Reporting System
(‘‘RTRS’’), and Short-Term Obligation occurring in the municipal securities
Washington, DC 20549, on official market. The SHORT system is an
Rate Transparency (‘‘SHORT’’) system.
business days between the hours of information facility for the collection
The proposed rule change consists of
10:00 a.m. and 3:00 p.m. Copies of the revisions to the facilities for the EMMA and dissemination of information and
filing also will be available for system, RTRS, and SHORT system to disclosure documents about securities
inspection and copying at the principal better align the language of the bearing interest at short-term rates
office of the Exchange. All comments information facilities to the MSRB’s (auction rate securities and variable-rate
received will be posted without change; administration of these systems. The demand obligations). The information
the Commission does not edit personal proposed rule change adds references to facilities for the EMMA system, RTRS,
identifying information from the MSRB’s core operational hours, and SHORT system serve to outline the
submissions. You should submit only clarifies the twenty-four hours a day, high level parameters by which the
information that you wish to make seven days a week (‘‘24/7’’) availability MSRB operates these systems.
available publicly. All submissions of many aspects of the MSRB’s systems, The purpose of the proposed rule
should refer to File Number SR– and makes minor changes of a technical change is to better align the language of
NASDAQ–2015–087 and should be nature. The MSRB has filed the the information facilities for the EMMA
submitted on or before August 31, 2015. proposed rule change under Section system, RTRS, and SHORT system to
19(b)(3)(A)(iii) of the Act 3 and Rule the MSRB’s administration of these
For the Commission, by the Division of systems. The proposed rule change
Trading and Markets, pursuant to delegated 19b–4(f)(6) 4 thereunder, as a
noncontroversial rule change that would add references to the MSRB’s
authority.15 core operational hours, clarify the 24/7
renders the proposal effective upon
Robert W. Errett, availability of many aspects of the
filing. The proposed rule change would
Deputy Secretary. be made operative on August 24, 2015. MSRB’s systems and make minor
tkelley on DSK3SPTVN1PROD with NOTICES
[FR Doc. 2015–19538 Filed 8–7–15; 8:45 am] The text of the proposed rule change changes of a technical nature to these
BILLING CODE 8011–01–P is available on the MSRB’s Web site at information facilities. These changes are
more fully described below.
1 15 U.S.C. 78s(b)(1).
2 17
MSRB Core Operational Hours
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii). The MSRB maintains core operational
15 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(6). hours for its transparency systems of
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![47978 Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
public interest, for the protection of For the Commission, pursuant to delegated an ‘‘early stage company’’ listed on the
investors, or otherwise in furtherance of authority.9 Exchange from having to obtain
the purposes of the Act. Robert W. Errett, shareholder approval, under certain
Deputy Secretary. circumstances, before issuing shares of
IV. Solicitation of Comments [FR Doc. 2015–19539 Filed 8–7–15; 8:45 am] common stock, or securities convertible
Interested persons are invited to BILLING CODE 8011–01–P into or exercisable for common stock, to
submit written data, views, and a (1) director, officer 6 or substantial
security holder 7 of the company
arguments concerning the foregoing,
SECURITIES AND EXCHANGE (‘‘Related Party’’ or ‘‘Related Parties’’),
including whether the proposed rule
COMMISSION (2) subsidiary, affiliate or closely-related
change is consistent with the Act. person of a Related Party or (3) company
Comments may be submitted by any of [Release No. 34–75599; File No. SR–NYSE–
2015–02] or entity in which a Related Party has
the following methods: a substantial direct or indirect interest
Electronic Comments Self-Regulatory Organizations; New (together, a ‘‘Proposed Exempted Party’’
York Stock Exchange LLC; Order or ’’ Proposed Exempted Parties’’).8 In
• Use the Commission’s Internet Instituting Proceedings To Determine particular, shareholder approval would
comment form (http://www.sec.gov/ Whether To Disapprove Proposed Rule no longer be required for an ‘‘early stage
rules/sro.shtml); or Change Amending Sections 312.03(b) company,’’ 9 before the issuance of
• Send an email to rule-comments@ and 312.04 of the NYSE Listed shares for cash to a Proposed Exempted
sec.gov. Please include File Number SR– Company Manual To Exempt Early Party, provided that the company’s
Stage Companies From Having To audit committee or a comparable
MSRB–2015–06 on the subject line.
Obtain Shareholder Approval Before committee comprised solely of
Paper Comments Issuing Shares for Cash to Related independent directors reviews and
Parties, Affiliates of Related Parties or approves of all such transactions prior
• Send paper comments in triplicate Entities in Which a Related Party Has to their completion. Today, shareholder
to Secretary, Securities and Exchange a Substantial Interest approval would be required prior to the
Commission, 100 F Street NE., issuance of shares, among other things,
Washington, DC 20549. August 4, 2015. where the number of shares to be issued
I. Introduction to the Proposed Exempted Party exceeds
All submissions should refer to File
either 1% of the number of shares of
Number SR–MSRB–2015–06. This file On April 16, 2015, New York Stock common stock or 1% of the voting
number should be included on the Exchange LLC (‘‘NYSE’’ or the power outstanding before the issuance
subject line if email is used. To help the ‘‘Exchange’’) filed with the Securities (or 5% of the number of shares or voting
Commission process and review your and Exchange Commission power, if the Related Party is classified
comments more efficiently, please use (‘‘Commission’’), pursuant to Section as such solely because it is a substantial
only one method. The Commission will 19(b)(1) of the Securities Exchange Act security holder, and the issuance relates
post all comments on the Commission’s of 1934 (‘‘Act’’) 1 and Rule 19b–4 to a sale of stock for cash, at a price at
Internet Web site (http://www.sec.gov/ thereunder,2 a proposed rule change to least as great as each of the book and
rules/sro.shtml). Copies of the exempt early stage companies from market value of the company’s common
submission, all subsequent having to obtain shareholder approval stock).10
amendments, all written statements before issuing shares to related parties,
with respect to the proposed rule affiliates of related parties or entities in 6 Section 312.04(h) of the Manual states that the
change that are filed with the which a related party has a substantial term ‘‘officer’’ has the same meaning as defined by
interest. The proposed rule change was the Commission in Rule 16a–1(f) under the Act.
Commission, and all written 7 Section 312.04(e) of the Manual states that an
communications relating to the published for comment in the Federal
interest consisting of less than either 5% percent of
proposed rule change between the Register on May 6, 2015.3 The the number of shares of common stock or 5% of the
Commission and any person, other than Commission received no comment voting power outstanding of a company or entity
letters on the proposal. On June 18, shall not be considered a substantial interest or
those that may be withheld from the cause the holder of such an interest to be regarded
public in accordance with the 2015, the Commission designated a as a substantial security holder.
provisions of 5 U.S.C. 552, will be longer period for Commission action on 8 The Commission notes that there is an
available for Web site viewing and the proposed rule change, until August inconsistency between the proposed rule text in
printing in the Commission’s Public 4, 2015.4 This order institutes Exhibit 5 and the proposed shareholder approval
proceedings under Section 19(b)(2)(B) of exception discussed in the Notice. The proposed
Reference Room, 100 F Street NE., rule text in Exhibit 5 states that the exception only
Washington, DC 20549 on official the Act 5 to determine whether to applies to Related Parties, which is defined in
business days between the hours of disapprove the proposed rule change. Section 312.03(b)(1) of the Manual. However, the
Notice clearly states that the proposed rule change
10:00 a.m. and 3:00 p.m. Copies of the II. Description of the Proposal is meant to apply to all Proposed Exempted Parties,
filing also will be available for The Exchange proposes to amend as set forth in Sections 312.03(b)(1), (2), and (3) of
inspection and copying at the principal the Manual, not just Related Parties under Section
Sections 312.03(b) and 312.04 of the 312.03(b)(1) of the Manual. See Notice, supra note
office of the MSRB. All comments NYSE Listed Company Manual 3, at 26119.
received will be posted without change; (‘‘Manual’’) to provide an exemption to 9 See supra notes 11 through 13 and
the Commission does not edit personal accompanying text.
identifying information from 10 The Exchange states that neither The NASDAQ
tkelley on DSK3SPTVN1PROD with NOTICES
9 17 CFR 200.30–3(a)(12).
submissions. You should submit only 1 15 Stock Market LLC (‘‘NASDAQ’’) nor NYSE MKT
U.S.C. 78s(b)(1).
LLC has a rule comparable to Section 312.03(b)
information that you wish to make 2 17 CFR 240.19b–4.
requiring listed companies to obtain shareholder
available publicly. All submissions 3 See Securities Exchange Act Release No. 74849
approval prior to 1% (or in certain cases 5%) share
(April 30, 2015), 80 FR 26118 (‘‘Notice’’). issuances in cash sales to a Proposed Exempted
should refer to File Number SR–MSRB– 4 See Securities Exchange Act Release No. 75248
Party. See Notice, supra note 3, at 26120. Thus, the
2015–06 and should be submitted on or (June 18, 2015), 80 FR 36385 (June 24, 2015). Exchange believes the proposed rule change is
before August 31, 2015. 5 15 U.S.C. 78s(b)(2)(B). necessary to enable the Exchange to compete with
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Document Created: 2015-12-15 12:12:05
Document Modified: 2015-12-15 12:12:05
| 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 47976 |
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