80 FR 65277 - Self-Regulatory Organizations: Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 404

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 206 (October 26, 2015)

[Federal Register Volume 80, Number 206 (Monday, October 26, 2015)]
[Notices]
[Pages 65277-65279]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-27072]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76201; File No. SR-MIAX-2015-59]


Self-Regulatory Organizations: Miami International Securities 
Exchange LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend Exchange Rule 404

October 20, 2015.
    Pursuant to the provisions of 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 October 15, 2015, Miami International 
Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the 
Securities and Exchange Commission (``Commission'') a proposed rule 
change as described in Items I, II, and III 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange is filing a proposal to amend Exchange Rule 404 to 
replace the name ``Google Inc.'' with ``Alphabet Inc.''
    The text of the proposed rule change is available on the Exchange's 
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at 
MIAX's principal office, and at the Commission's Public Reference Room.

[[Page 65278]]

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 Interpretations and Policies .08 
to MIAX Rule 404, entitled Mini Option Contracts, to replace the name 
``Google Inc.'' with ``Alphabet Inc.'' Google Inc. (``Google'') 
recently announced plans to reorganize and create a new public holding 
company, which will be called Alphabet Inc. (``Alphabet''). As a result 
of the holding company reorganization, each share of Class A Common 
Stock (``GOOGL''), on which the Exchange has the ability to list as a 
Mini Option, will automatically convert into an equivalent 
corresponding share of Alphabet Inc. stock. The symbol ``GOOGL'' 
remains unchanged.
    The Exchange is proposing to make this change to Interpretations 
and Policies .08 to enable the Exchange to list and trade Mini Options 
on Google, now Alphabet, Class A shares. The Exchange is proposing to 
make this change because, on October 5, 2015 Google reorganized and as 
a result underwent a name change.
    The purpose of this change is to ensure that Interpretations and 
Policies .08 to Exchange Rule 404 reflects the Exchange's intention to 
be able to list and trade Mini Options on only an exhaustive list of 
underlying securities outlined in Interpretations and Policies .08 to 
Rule 404. As a result, the proposed change will help avoid confusion.
2. Statutory Basis
    MIAX believes that its proposed rule change is consistent with 
section 6(b) of the Act \3\ in general, and furthers the objectives of 
section 6(b)(5) of the Act \4\ in particular, in that it 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 facilitating transactions in 
securities, to remove impediments to and perfect the mechanisms of a 
free and open market and a national market system and, in general, to 
protect investors and the public interest.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
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    In particular, the proposed rule change to change the name Google 
to Alphabet to reflect the new ownership structure is consistent with 
the Act because the proposed change is merely updating the current name 
associated with the stock symbol GOOGL. The proposed change will allow 
for continued benefit to investors by enabling the Exchange to provide 
them with additional investment alternatives.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. In particular, the proposed 
rule change to change the name Google to Alphabet to reflect the new 
ownership structure is consistent with the Act because the proposed 
change is merely updating the current name associated with the stock 
symbol GOOGL. The proposed change will allow for continued benefit to 
investors by enabling the Exchange to provide them with additional 
investment alternatives.

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.

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 after the date of the filing, or such 
shorter time as the Commission may designate, it has become effective 
pursuant to 19(b)(3)(A) of the Act \5\ and Rule 19b-4(f)(6) \6\ 
thereunder.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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.
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    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 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 Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-MIAX-2015-59 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-MIAX-2015-59. 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

[[Page 65279]]

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-MIAX-2015-59, and should be submitted on or before November 16, 
2015.

     For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority. \7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-27072 Filed 10-23-15; 8:45 am]
 BILLING CODE 8011-01-P