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)

Page Range		65277-65279
FR Document		2015-27072

Federal Register, Volume 80 Issue 206 (Monday, 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 rule-comments@sec.gov. 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

Federal Register / Vol. 80, No. 206 / Monday, October 26, 2015 / Notices 65277

believes that the proposed rule change to Section 19(b)(2) of the Act,44 to submitted on or before November 16,
does not raise any novel regulatory approve the proposed rule change, as 2015.
considerations and should provide modified by Amendment No. 1, on an
VI. Conclusion
greater specificity with respect to the accelerated basis.
functionality available on the Exchange IT IS THEREFORE ORDERED,
V. Solicitation of Comments on
as symbols are migrated to the Pillar pursuant to Section 19(b)(2) of the
Amendment No. 1
platform. For these reasons, the Act,45 that the proposed rule change
Commission believes that the proposal Interested persons are invited to (SR–NYSEArca–2015–58), as modified
should help to prevent fraudulent and submit written data, views, and by Amendment No. 1 thereto, be, and
manipulative acts and practices, arguments concerning the foregoing, hereby is, approved on an accelerated
promote just and equitable principles of including whether Amendment No. 1 is basis.
trade, remove impediments to and consistent with the Act. Comments may
be submitted by any of the following For the Commission, by the Division of
perfect the mechanism of a free and
Trading and Markets, pursuant to delegated
open market and a national market methods:
authority.46
system, and, in general, protect Electronic Comments Brent J. Fields,
investors and the public interest.
• Use the Commission’s Internet Secretary.
IV. Accelerated Approval of comment form (http://www.sec.gov/ [FR Doc. 2015–27069 Filed 10–23–15; 8:45 am]
Amendment No. 1 rules/sro.shtml); or BILLING CODE 8011–01–P
In Amendment No. 1, the Exchange: • Send an email to rule-comments@
(i) Removes an erroneous reference to sec.gov. Please include File Number SR–
subparagraph (6) from proposed Rule NYSEArca–2015–58 on the subject line. SECURITIES AND EXCHANGE
7.11P(b); (ii) amends proposed Rule COMMISSION
Paper Comments
7.16P(f)(5)(A) to add the phrase ‘‘or
lower than’’ to clarify that short sale • Send paper comments in triplicate [Release No. 34–76201; File No. SR–MIAX–
orders with a working price and/or to Brent J. Fields, Secretary, Securities 2015–59]
display price below the NBB would also and Exchange Commission, 100 F Street
be re-priced to a Permitted Price; (iii) NE., Washington, DC 20549–1090. Self-Regulatory Organizations: Miami
amends proposed Rule 7.16P(f)(5)(C) to All submissions should refer to File International Securities Exchange LLC;
clarify that the Exchange would treat all Number SR–NYSEArca–2015–58. This Notice of Filing and Immediate
odd lot orders ranked Priority 2— file number should be included on the Effectiveness of a Proposed Rule
Display Orders in the same manner as subject line if email is used. To help the Change To Amend Exchange Rule 404
Market Orders and other non-displayed Commission process and review your October 20, 2015.
orders; (iv) amends proposed Rule comments more efficiently, please use
7.16P(f)(5)(D) to provide that all Pegged only one method. The Commission will Pursuant to the provisions of section
Orders and MPL Orders, including post all comments on the Commission’s 19(b)(1) of the Securities Exchange Act
orders marked buy, sell long, and sell Internet Web site (http://www.sec.gov/ of 1934 (‘‘Act’’) 1 and Rule 19b–4
short exempt, would use the national rules/sro.shtml). Copies of the thereunder, 2 notice is hereby given that
best bid or offer (‘‘NBBO’’) instead of the submission, all subsequent on October 15, 2015, Miami
PBBO as the reference price; (v) amend amendments, all written statements International Securities Exchange LLC
proposed Rule 7.18P(b)(6) to specify with respect to the proposed rule (‘‘MIAX’’ or ‘‘Exchange’’) filed with the
that the Exchange would reject all change that are filed with the Securities and Exchange Commission
‘‘incoming order instructions’’ during a Commission, and all written (‘‘Commission’’) a proposed rule change
UTP Regulatory Halt other than those communications relating to the as described in Items I, II, and III below,
specified in proposed Rules 7.18P(b)(1)– proposed rule change between the which Items have been prepared by the
(5); (vi) amend footnote 44 of the Notice Commission and any person, other than Exchange. The Commission is
to add a reference to Limit Immediate- those that may be withheld from the publishing this notice to solicit
or-Cancel (‘‘IOC’’) Orders designated public in accordance with the comments on the proposed rule change
with a minimum trade size (‘‘MTS’’), provisions of 5 U.S.C. 552, will be from interested persons.
change the rule reference for MPL–IOC available for Web site viewing and I. Self-Regulatory Organization’s
Orders from Rule 7.31P(c)(3)(E) to Rule printing in the Commission’s Public Statement of the Terms of the Substance
7.31P(d)(3)(E), and add a reference to Reference Room, 100 F Street NE., of the Proposed Rule Change
Day ISO ALO Orders; and (vii) amends Washington, DC 20549 on official
Rule 7.38P(b)(1) to add that if the limit business days between the hours of The Exchange is filing a proposal to
price of an odd lot order to buy (sell) is 10:00 a.m. and 3:00 p.m. Copies of such amend Exchange Rule 404 to replace the
above (below) the protected best offer filing also will be available for name ‘‘Google Inc.’’ with ‘‘Alphabet
(‘‘PBO’’) (protected best bid (‘‘PBB’’), inspection and copying at the principal Inc.’’
and the PBBO is crossed, it would have office of the Exchange. All comments The text of the proposed rule change
a working price equal to the PBB (PBO) received will be posted without change; is available on the Exchange’s Web site
to ensure that an odd lot order to buy the Commission does not edit personal
asabaliauskas on DSK5VPTVN1PROD with NOTICES

at http://www.miaxoptions.com/filter/
(sell) would not have a working price identifying information from wotitle/rule_filing, at MIAX’s principal
below (above) the PBB (PBO). submissions. You should submit only office, and at the Commission’s Public
The Commission believes that the information that you wish to make Reference Room.
changes proposed in Amendment No. 1 available publicly. All submissions
are non-substantive and further clarify should refer to File Number SR– 45 15 U.S.C. 78s(b)(2).
the operation of the proposed rules NYSEArca-2015–58, and should be 46 17 CFR 200.30–3(a)(12).
governing Pillar. Accordingly, the 1 15 U.S.C. 78s(b)(1).
Commission finds good cause, pursuant 44 15 U.S.C. 78s(b)(2). 2 17 CFR 240.19b–4.

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Federal Register / Vol. 80, No. 206 / Monday, October 26, 2015 / Notices 65279

office of the Exchange. All comments or pause) of a primary listing market option, any remaining shares will either
received will be posted without change; other than the Exchange (NYSE, Nasdaq, be posted to the BATS Book,7 executed,
the Commission does not edit personal NYSE MKT, or NYSE Arca) if received or routed to destinations on the System
identifying information from before the re-opening time of such routing table.8 Should no halt,
submissions. You should submit only market. suspension, or pause occur on the
information that you wish to make The text of the proposed rule change primary listing market, such orders
available publicly. All submissions is available at the Exchange’s Web site would remain on the BATS Book,
should refer to File Number SR–MIAX– at www.batstrading.com, at the executed, or routed to destinations on
2015–59, and should be submitted on or principal office of the Exchange, and at the System routing table.
before November 16, 2015. the Commission’s Public Reference
Room. 2. Statutory Basis
For the Commission, by the Division of
Trading and Markets, pursuant to delegated The Exchange believes that its
II. Self-Regulatory Organization’s
authority. 7 proposal is consistent with Section 6(b)
Statement of the Purpose of, and
Brent J. Fields, of the Act 9 in general, and furthers the
Statutory Basis for, the Proposed Rule
Secretary. Change objectives of Section 6(b)(5) of the Act 10
[FR Doc. 2015–27072 Filed 10–23–15; 8:45 am] in particular, in that it is designed to
BILLING CODE 8011–01–P
In its filing with the Commission, the promote just and equitable principles of
Exchange included statements trade, to foster cooperation and
concerning the purpose of and basis for coordination with persons engaged in
SECURITIES AND EXCHANGE the proposed rule change and discussed facilitating transactions in securities, to
COMMISSION any comments it received on the remove impediments to and perfect the
proposed rule change. The text of these mechanism of a free and open market
[Release No. 34–76197; File No. SR–BATS– statements may be examined at the
2015–87] and a national market system and, in
places specified in Item IV below. The general, to protect investors and the
Self-Regulatory Organizations; BATS Exchange has prepared summaries, set public interest. Certain Users whose
Exchange, Inc.; Notice of Filing and forth in Sections A, B, and C below, of orders are resting on the BATS Book
Immediate Effectiveness of a Proposed the most significant parts of such may wish that their order only be routed
Rule Change To Amend Rule 11.13, statements. to the primary market’s re-opening
Order Execution and Routing A. Self-Regulatory Organization’s process following a halt, suspension or
October 20, 2015. Statement of the Purpose of, and pause, and not the primary market’s
Statutory Basis for, the Proposed Rule opening or closing processes. The
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the Change proposed rule change promotes just and
‘‘Act’’),1 and Rule 19b–4 thereunder,2 equitable principles of trade because it
1. Purpose would provide such Users with
notice is hereby given that on October
9, 2015, BATS Exchange, Inc. (the The Exchange proposes to amend additional flexibility where they wish
‘‘Exchange’’ or ‘‘BATS’’) filed with the Rule 11.13, Order Execution and that their order only be eligible to route
Securities and Exchange Commission Routing, to enable Users to designate to the primary listing market to
(‘‘Commission’’) the proposed rule their orders for participation in the re- participate in the re-opening process
change as described in Items I, II, and opening (following a halt, suspension, following a halt, suspension or pause. In
III below, which Items have been or pause) of a primary listing market addition, and as discussed above, the
prepared by the Exchange. The other than the Exchange (NYSE, Nasdaq, proposed rule change is similar to the
Exchange has designated this proposal NYSE MKT, or NYSE Arca) if received Exchange’s current ROOC routing
as a ‘‘non-controversial’’ proposed rule before the re-opening time of such option.
change pursuant to Section 19(b)(3)(A) market. The Exchange currently offers
the ROOC routing option, under which B. Self-Regulatory Organization’s
of the Act 3 and Rule 19b–4(f)(6) Statement on Burden on Competition
thereunder,4 which renders it effective Users may designate their orders for
upon filing with the Commission. The participation in the opening or closing The Exchange does not believe that
Commission is publishing this notice to process, in addition to the re-opening the proposal will impose any burden on
solicit comments on the proposed rule (following a halt, suspension, or pause), competition not necessary or
change from interested persons. of a primary listing market other than appropriate in furtherance of the
the Exchange, if received before the purposes of the Act. The Exchange
I. Self-Regulatory Organization’s opening/re-opening/closing time of such
Statement of the Terms of the Substance believes that its proposal would
market.6 However, some Users only increase competition because it offers
of the Proposed Rule Change wish that their orders be routed to Users an alternative means to route
The Exchange filed a proposal to participate in the primary market’s re- orders to the primary listing market to
amend Rule 11.13, Order Execution and opening process, and not its opening or participate in the re-opening following a
Routing, to enable Users 5 to designate closing processes. Therefore, the halt, suspension, or pause as if they
their orders for participation in the re- Exchange proposes to enable Users to entered orders on that market directly.
opening (following a halt, suspension, designate their orders for participation
asabaliauskas on DSK5VPTVN1PROD with NOTICES

in the re-opening of a primary listing 7 The term ‘‘BATS Book’’ is defined as ‘‘the
7 17 CFR 200.30–3(a)(12). market. System’s electronic file of orders.’’ See Exchange
1 15 U.S.C. 78s(b)(1).
The proposed optionality would Rule 1.5(e).
2 17 CFR 240.19b–4.
operate like the current ROOC routing 8 The term ‘‘System routing table’’ refers to the
3 15 U.S.C. 78s(b)(3)(A). proprietary process for determining the specific
option, but for routing to the primary
4 17 CFR 240.19b–4(f)(6). options exchanges to which the System routes
5 The term ‘‘User’’ is defined as ‘‘any Member or
listing market’s opening or closing orders and the order in which it routes them. See
Sponsored Participant who is authorized to obtain process. Lastly, like the ROOC routing Exchange Rule 11.13(b)(3).
9 15 U.S.C. 78f(b).
access to the System pursuant to Rule 11.3.’’ See
Exchange Rule 1.5(cc). 6 See Exchange Rule 11.13(b)(3)(N). 10 15 U.S.C. 78f(b)(5).

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Document Created: 2018-02-27 08:56:03
Document Modified: 2018-02-27 08:56:03

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 65277