80 FR 65833 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Modifying the NYSE Amex Options Fee Schedule Related to the Amex Customer Engagement Program

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 207 (October 27, 2015)

Page Range		65833-65835
FR Document		2015-27218

Federal Register, Volume 80 Issue 207 (Tuesday, October 27, 2015)

[Federal Register Volume 80, Number 207 (Tuesday, October 27, 2015)]
[Notices]
[Pages 65833-65835]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-27218]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76208; File No. SR-NYSEMKT-2015-78]

Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Modifying the NYSE Amex
Options Fee Schedule Related to the Amex Customer Engagement Program

October 21, 2015.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on October 15, 2015, NYSE MKT LLC (the ``Exchange'' or
``NYSE MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. 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\ 15 U.S.C. 78a.
\3\ 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 proposes to modify the NYSE Amex Options Fee Schedule
(``Fee Schedule'') related to the Amex Customer Engagement (``ACE'')
Program. The Exchange proposes to implement the fee change effective
October 15, 2015. The text of the proposed rule change is available on
the Exchange's Web site at www.nyse.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 self-regulatory organization
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 those 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 purpose of this filing is to increase the credits available to
participants that achieve Tier 2 of the ACE Program as described below.
Section I.E. of the Fee Schedule describes the ACE Program,\4\
which features five tiers expressed as a percentage of total industry
Customer equity and ETF option average daily volume (``ADV'').\5\ Order
Flow Providers (``OFPs'') receive per contract credits solely for
Electronic Customer volume that the OFP, as agent, submits to the
Exchange.\6\ The ACE Program offers the following two methods for OFPs
to receive credits:
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\4\ See NYSE Amex Options Fee Schedule, available here, https://www.theice.com/publicdocs/nyse/markets/amex-options/NYSE_Amex_Options_Fee_Schedule.pdf.
\5\ In calculating ADV, the Exchange utilizes monthly reports
published by the OCC for equity options and ETF options that show
cleared volume by account type. See OCC Monthly Statistics Reports,
available here, http://www.theocc.com/webapps/monthly-volume-reports
(including for equity options and ETF options volume, subtotaled by
exchange, along with OCC total industry volume). The Exchange
calculates the total OCC volume for equity and ETF options that
clear in the Customer account type and divide this total by the
number of trading days for that month (i.e., any day the Exchange is
open for business). For example, in a month having 21 trading days
where there were 252,000,000 equity option and ETF option contracts
that cleared in the Customer account type, the calculated ADV would
be 12,000,000 (252,000,000/21 = 12,000,000).
\6\ Electronic Customer volume is volume executed electronically
through the Exchange System, on behalf of an individual or
organization that is not a Broker-Dealer and who does not meet the
definition of a Professional Customer.
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1. By calculating, on a monthly basis, the average daily Customer
contract volume an OFP executes Electronically on the Exchange as a
percentage of total average daily industry Customer equity and ETF
options volume; \7\ or
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\7\ See supra n. 5
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2. By calculating, on a monthly basis, the average daily contract
volume an OFP executes Electronically in all participant types (i.e.,
Customer, Firm, Broker-Dealer, NYSE Amex Options Market Maker, Non-NYSE
Amex Options Market Maker, and Professional Customer) on the Exchange,
as a percentage of total average daily industry Customer equity and ETF
option volume,\8\ with the further requirement that a specified
percentage of the minimum volume required to qualify for the Tier must
be Customer volume.
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\8\ Id.
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Upon reaching a higher tier, an OFP would receive for all eligible
Customer

[[Page 65834]]

volume the per contract credit associated with the highest tier
achieved, retroactive to the first contract traded each month,
regardless of which of the two calculation methods the OFP qualifies
under.\9\
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\9\ In the event that an OFP is eligible for credits under both
calculation methods, the OFP would benefit from whichever criterion
results in the highest per contract credit for all the OFP's
eligible ADV. In calculating an OFP's Electronic volume, certain
volumes are excluded (e.g., QCC trades). See Fee Schedule (Section
I.E.), supra n. 4.
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The Exchange proposes to modify the ACE Program by increasing the
credits available for Tier 2 as illustrated in the table below, with
proposed additions appearing italicized and proposed deletions
appearing in brackets:
* * * * *

----------------------------------------------------------------------------------------------------------------
ACE program--standard options Credits payable on customer volume only
--------------------------------------------------------------------------------------------------
Total electronic
ADV (of which 20%
or greater of the
Customer electronic minimum qualifying 1 Year 3 Year
Tier ADV as a % of volume for each Customer enhanced enhanced
industry customer OR tier must be volume customer customer
equity and ETF customer) as a % of credits volume volume
Options ADV industry customer credits credits
equity and ETF
options ADV
----------------------------------------------------------------------------------------------------------------
1............ 0.00% to 0.60%..... ....... N/A................ $0.00 $0.00 $0.00
2............ >0.60% to 0.80%.... ....... N/A................ ($0.13) [($0.13)] [($0.13)]
($0.15) ($0.16)
3............ >0.80% to 1.25%.... ....... 1.50% to 2.50% of ($0.14) ($0.16) ($0.18)
which 20% or
greater of 1.50%
must be Customer.
4............ >1.25 to 1.75%..... ....... >2.50% to 3.50% of ($0.17) ($0.19) ($0.21)
which 20% or
greater of 2.50%
must be Customer.
5............ >1.75%............. ....... >3.50% of which 20% ($0.19) ($0.21) ($0.23)
or greater of 3.5%
must be Customer.
----------------------------------------------------------------------------------------------------------------

The proposed amendments to the ACE Program are designed to enhance
the rebates, which the Exchange believes would attract more volume and
liquidity to the Exchange to the benefit of Exchange participants
through increased opportunities to trade as well as enhancing price
discovery.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\10\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\11\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
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\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(4) and (5).
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The Exchange believes that the proposed changes to the ACE Program
are reasonable, equitable and not unfairly discriminatory because the
credits offered are based on the amount of business transacted on the
Exchange. In addition, the Exchange believes that the proposed
amendments to the ACE Program are reasonable, equitable and not
unfairly discriminatory because they would enhance the incentives to
OFPs to transact Customer orders on the Exchange, which would benefit
all market participants by providing more trading opportunities and
tighter spreads, even to those market participants that do not
participate in the ACE Program. Additionally, the Exchange believes the
proposed changes to the ACE Program are consistent with the Act because
they may attract greater volume and liquidity to the Exchange, which
would benefit all market participants by providing tighter quoting and
better prices, all of which perfects the mechanism for a free and open
market and national market system.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.

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

In accordance with Section 6(b)(8) of the Act,\12\ 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. The Exchange believes the proposed amendments
to the ACE Program are pro-competitive as the proposed increased
rebates may encourage OFPs to direct Customer order flow to the
Exchange and any resulting increase in volume and liquidity to the
Exchange would benefit all of Exchange participants through increased
opportunities to trade as well as enhancing price discovery.
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\12\ 15 U.S.C. 78f(b)(8).
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The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues. In
such an environment, the Exchange must continually review, and consider
adjusting, its fees and credits to remain competitive with other
exchanges. For the reasons described above, the Exchange believes that
the proposed rule change reflects this competitive environment.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

No written comments were solicited or received with respect to the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \13\ of the Act and subparagraph (f)(2) of Rule
19b-4 \14\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(2).
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At any time within 60 days of the filing of such 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 under
Section 19(b)(2)(B) \15\ of the Act to determine whether the proposed
rule

[[Page 65835]]

change should be approved or disapproved.
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\15\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSEMKT-2015-78 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-NYSEMKT-2015-78. 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 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-NYSEMKT-2015-78, and should
be submitted on or before November 17, 2015.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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\16\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2015-27218 Filed 10-26-15; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 80, No. 207 / Tuesday, October 27, 2015 / Notices 65833

Exchange also proposes to adopt new SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
Exchange Rule 11.1(a)(1) to define COMMISSION Statement of the Purpose of, and
Effective Start Time, an order Statutory Basis for, the Proposed Rule
instruction that would allow Members 3 [Release No. 34–76208; File No. SR– Change
to indicate a time upon which their NYSEMKT–2015–78] 1. Purpose
order may become eligible for
Self-Regulatory Organizations; NYSE The purpose of this filing is to
execution. The proposed rule change
increase the credits available to
was published for comment in the MKT LLC; Notice of Filing and
participants that achieve Tier 2 of the
Federal Register on September 10, Immediate Effectiveness of Proposed
ACE Program as described below.
2015.4 Rule Change Modifying the NYSE Section I.E. of the Fee Schedule
Section 19(b)(2) of the Act 5 provides Amex Options Fee Schedule Related to describes the ACE Program,4 which
the Amex Customer Engagement features five tiers expressed as a
that, within 45 days of the publication
Program percentage of total industry Customer
of notice of the filing of a proposed rule
change, or within such longer period up October 21, 2015. equity and ETF option average daily
to 90 days as the Commission may volume (‘‘ADV’’).5 Order Flow Providers
Pursuant to Section 19(b)(1) 1 of the (‘‘OFPs’’) receive per contract credits
designate if it finds such longer period
Securities Exchange Act of 1934 (the solely for Electronic Customer volume
to be appropriate and publishes its
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 that the OFP, as agent, submits to the
reasons for so finding or as to which the notice is hereby given that, on October
self-regulatory organization consents, Exchange.6 The ACE Program offers the
15, 2015, NYSE MKT LLC (the following two methods for OFPs to
the Commission shall either approve the ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with receive credits:
proposed rule change, disapprove the the Securities and Exchange 1. By calculating, on a monthly basis,
proposed rule change, or institute Commission (the ‘‘Commission’’) the the average daily Customer contract
proceedings to determine whether the proposed rule change as described in volume an OFP executes Electronically
proposed rule change should be Items I, II, and III below, which Items on the Exchange as a percentage of total
disapproved. The Commission is have been prepared by the self- average daily industry Customer equity
extending this 45-day time period. The regulatory organization. The and ETF options volume; 7 or
Commission finds that it is appropriate Commission is publishing this notice to 2. By calculating, on a monthly basis,
to designate a longer period within solicit comments on the proposed rule the average daily contract volume an
which to take action on the proposed change from interested persons. OFP executes Electronically in all
rule change so that it has sufficient time participant types (i.e., Customer, Firm,
to consider the proposed rule change. I. Self-Regulatory Organization’s Broker-Dealer, NYSE Amex Options
Statement of the Terms of the Substance Market Maker, Non-NYSE Amex
Accordingly, the Commission, of the Proposed Rule Change Options Market Maker, and Professional
pursuant to Section 19(b)(2) of the Act,6 Customer) on the Exchange, as a
designates December 9, 2015, as the date The Exchange proposes to modify the percentage of total average daily
by which the Commission shall either NYSE Amex Options Fee Schedule industry Customer equity and ETF
approve or disapprove or institute (‘‘Fee Schedule’’) related to the Amex option volume,8 with the further
proceedings to determine whether to Customer Engagement (‘‘ACE’’) requirement that a specified percentage
disapprove the proposed rule change Program. The Exchange proposes to of the minimum volume required to
(File Number SR–BATS–2015–69). implement the fee change effective qualify for the Tier must be Customer
October 15, 2015. The text of the volume.
For the Commission, by the Division of
proposed rule change is available on the Upon reaching a higher tier, an OFP
Trading and Markets, pursuant to delegated
Exchange’s Web site at www.nyse.com, would receive for all eligible Customer
authority.7
at the principal office of the Exchange,
Brent J. Fields, and at the Commission’s Public 4 See NYSE Amex Options Fee Schedule,

Secretary. Reference Room. available here, https://www.theice.com/publicdocs/
nyse/markets/amex-options/NYSE_Amex_Options_
[FR Doc. 2015–27222 Filed 10–26–15; 8:45 am]
II. Self-Regulatory Organization’s Fee_Schedule.pdf.
BILLING CODE 8011–01–P 5 In calculating ADV, the Exchange utilizes
Statement of the Purpose of, and monthly reports published by the OCC for equity
Statutory Basis for, the Proposed Rule options and ETF options that show cleared volume
Change by account type. See OCC Monthly Statistics
Reports, available here, http://www.theocc.com/
In its filing with the Commission, the webapps/monthly-volume-reports (including for
equity options and ETF options volume, subtotaled
self-regulatory organization included by exchange, along with OCC total industry
statements concerning the purpose of, volume). The Exchange calculates the total OCC
and basis for, the proposed rule change volume for equity and ETF options that clear in the
and discussed any comments it received Customer account type and divide this total by the
number of trading days for that month (i.e., any day
on the proposed rule change. The text the Exchange is open for business). For example, in
3 The term ‘‘Member’’ is defined as ‘‘any
of those statements may be examined at a month having 21 trading days where there were
the places specified in Item IV below. 252,000,000 equity option and ETF option contracts
registered broker or dealer that has been admitted that cleared in the Customer account type, the
to membership in the Exchange.’’ See Exchange The Exchange has prepared summaries, calculated ADV would be 12,000,000 (252,000,000/
tkelley on DSK3SPTVN1PROD with NOTICES

Rule 1.5(n). set forth in sections A, B, and C below, 21 = 12,000,000).
4 See Securities Exchange Act Release No. 75832 of the most significant parts of such 6 Electronic Customer volume is volume executed

(September 3, 2015), 80 FR 54614 (SR–BATS–2015– statements. electronically through the Exchange System, on
behalf of an individual or organization that is not
69).
a Broker-Dealer and who does not meet the
5 15 U.S.C. 78s(b)(2). 1 15 U.S.C. 78s(b)(1). definition of a Professional Customer.
6 Id. 2 15 U.S.C. 78a. 7 See supra n. 5
7 17 CFR 200.30–3(a)(31). 3 17 CFR 240.19b–4. 8 Id.

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65834 Federal Register / Vol. 80, No. 207 / Tuesday, October 27, 2015 / Notices

volume the per contract credit of the two calculation methods the OFP table below, with proposed additions
associated with the highest tier qualifies under.9 appearing italicized and proposed
achieved, retroactive to the first contract The Exchange proposes to modify the deletions appearing in brackets:
traded each month, regardless of which ACE Program by increasing the credits * * * * *
available for Tier 2 as illustrated in the

ACE program—standard options Credits payable on customer volume only

Total electronic ADV (of which 20% 1 Year 3 Year
Tier Customer electronic ADV as a % of or greater of the minimum quali- Customer enhanced enhanced
industry customer equity and ETF OR fying volume for each tier must be volume customer customer
Options ADV customer) as a % of industry cus- credits volume volume
tomer equity and ETF options ADV credits credits

1 ........ 0.00% to 0.60% .............................. ............ N/A .................................................. $0.00 $0.00 $0.00
2 ........ >0.60% to 0.80% ............................ ............ N/A .................................................. ($0.13) [($0.13)] [($0.13)]
($0.15) ($0.16)
3 ........ >0.80% to 1.25% ............................ ............ 1.50% to 2.50% of which 20% or ($0.14) ($0.16) ($0.18)
greater of 1.50% must be Cus-
tomer.
4 ........ >1.25 to 1.75% ............................... ............ >2.50% to 3.50% of which 20% or ($0.17) ($0.19) ($0.21)
greater of 2.50% must be Cus-
tomer.
5 ........ >1.75% ............................................ ............ >3.50% of which 20% or greater of ($0.19) ($0.21) ($0.23)
3.5% must be Customer.

The proposed amendments to the the ACE Program. Additionally, the continually review, and consider
ACE Program are designed to enhance Exchange believes the proposed changes adjusting, its fees and credits to remain
the rebates, which the Exchange to the ACE Program are consistent with competitive with other exchanges. For
believes would attract more volume and the Act because they may attract greater the reasons described above, the
liquidity to the Exchange to the benefit volume and liquidity to the Exchange, Exchange believes that the proposed
of Exchange participants through which would benefit all market rule change reflects this competitive
increased opportunities to trade as well participants by providing tighter environment.
as enhancing price discovery. quoting and better prices, all of which
C. Self-Regulatory Organization’s
perfects the mechanism for a free and
2. Statutory Basis Statement on Comments on the
open market and national market
The Exchange believes that the Proposed Rule Change Received From
system.
proposed rule change is consistent with For these reasons, the Exchange Members, Participants, or Others
Section 6(b) of the Act,10 in general, and believes that the proposal is consistent No written comments were solicited
furthers the objectives of Sections with the Act. or received with respect to the proposed
6(b)(4) and (5) of the Act,11 in particular, rule change.
because it provides for the equitable B. Self-Regulatory Organization’s
Statement on Burden on Competition III. Date of Effectiveness of the
allocation of reasonable dues, fees, and
In accordance with Section 6(b)(8) of Proposed Rule Change and Timing for
other charges among its members,
the Act,12 the Exchange does not believe Commission Action
issuers and other persons using its
facilities and does not unfairly that the proposed rule change will The foregoing rule change is effective
discriminate between customers, impose any burden on competition that upon filing pursuant to Section
issuers, brokers or dealers. is not necessary or appropriate in 19(b)(3)(A) 13 of the Act and
The Exchange believes that the furtherance of the purposes of the Act. subparagraph (f)(2) of Rule 19b–4 14
proposed changes to the ACE Program The Exchange believes the proposed thereunder, because it establishes a due,
are reasonable, equitable and not amendments to the ACE Program are fee, or other charge imposed by the
unfairly discriminatory because the pro-competitive as the proposed Exchange.
credits offered are based on the amount increased rebates may encourage OFPs At any time within 60 days of the
of business transacted on the Exchange. to direct Customer order flow to the filing of such proposed rule change, the
In addition, the Exchange believes that Exchange and any resulting increase in Commission summarily may
the proposed amendments to the ACE volume and liquidity to the Exchange temporarily suspend such rule change if
Program are reasonable, equitable and would benefit all of Exchange it appears to the Commission that such
not unfairly discriminatory because they participants through increased action is necessary or appropriate in the
would enhance the incentives to OFPs opportunities to trade as well as public interest, for the protection of
to transact Customer orders on the enhancing price discovery. investors, or otherwise in furtherance of
Exchange, which would benefit all The Exchange notes that it operates in the purposes of the Act. If the
market participants by providing more a highly competitive market in which Commission takes such action, the
trading opportunities and tighter market participants can readily favor Commission shall institute proceedings
tkelley on DSK3SPTVN1PROD with NOTICES

spreads, even to those market competing venues. In such an under Section 19(b)(2)(B) 15 of the Act to
participants that do not participate in environment, the Exchange must determine whether the proposed rule
9 In the event that an OFP is eligible for credits certain volumes are excluded (e.g., QCC trades). See 12 15 U.S.C. 78f(b)(8).
under both calculation methods, the OFP would Fee Schedule (Section I.E.), supra n. 4. 13 15 U.S.C. 78s(b)(3)(A).
benefit from whichever criterion results in the 10 15 U.S.C. 78f(b). 14 17 CFR 240.19b–4(f)(2).
highest per contract credit for all the OFP’s eligible 11 15 U.S.C. 78f(b)(4) and (5). 15 15 U.S.C. 78s(b)(2)(B).
ADV. In calculating an OFP’s Electronic volume,

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Federal Register / Vol. 80, No. 207 / Tuesday, October 27, 2015 / Notices 65835

change should be approved or For the Commission, by the Division of SECURITIES AND EXCHANGE
disapproved. Trading and Markets, pursuant to delegated COMMISSION
authority.16
IV. Solicitation of Comments Brent J. Fields, [Release No. 34–76210; File No. SR–EDGA–
2015–36]
Secretary.
Interested persons are invited to
[FR Doc. 2015–27218 Filed 10–26–15; 8:45 am] Self-Regulatory Organizations; EDGA
submit written data, views, and
arguments concerning the foregoing, BILLING CODE 8011–01–P Exchange, Inc.; Notice of Designation
including whether the proposed rule of a Longer Period for Commission
change is consistent with the Act. Action on a Proposed Rule Change To
SECURITIES AND EXCHANGE Amend Rules 1.5(s), 11.1(a)(1), 11.6
Comments may be submitted by any of
COMMISSION and 11.8
the following methods:
Electronic Comments Sunshine Act Meeting October 21, 2015.
On September 3, 2015, EDGA
• Use the Commission’s Internet Notice is hereby given, pursuant to Exchange, Inc. (the ‘‘Exchange’’ or
comment form (http://www.sec.gov/ the provisions of the Government in the ‘‘EDGA’’) filed with the Securities and
rules/sro.shtml); or Sunshine Act, Public Law 94–409, that Exchange Commission (‘‘Commission’’),
the Securities and Exchange pursuant to Section 19(b)(1) of the
• Send an email to rule-comments@
Commission will hold a Closed Meeting Securities Exchange Act of 1934
sec.gov. Please include File Number SR– on Thursday, October 29, 2015 at 12:00 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a
NYSEMKT–2015–78 on the subject line. p.m. proposed rule change to amend rules
Paper Comments Commissioners, Counsel to the related to the Pre-Opening Session,
Commissioners, the Secretary to the including revising: (1) Exchange Rule
• Send paper comments in triplicate Commission, and recording secretaries 1.5(s) to state that the Pre-Opening
to Secretary, Securities and Exchange will attend the Closed Meeting. Certain Session will start at 7:00 a.m. rather
Commission, 100 F Street NE., staff members who have an interest in than 8:00 a.m. Eastern Time and (2)
Washington, DC 20549–1090. the matters also may be present. Exchange Rule 11.1(a)(1) regarding the
All submissions should refer to File hours of trading and trading days of the
The General Counsel of the Exchange to account for the Pre-
Number SR–NYSEMKT–2015–78. This Commission, or her designee, has Opening Session starting at 7:00 a.m.
file number should be included on the certified that, in her opinion, one or Eastern Time. The Exchange also
subject line if email is used. To help the more of the exemptions set forth in 5 proposes to adopt a new order
Commission process and review your U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) instruction, Effective Start Time,
comments more efficiently, please use and 17 CFR 200.402(a)(3), (5), (7), 9(ii) including revising: (1) Exchange Rule
only one method. The Commission will and (10), permit consideration of the 11.6 to define Effective Start Time as an
post all comments on the Commission’s scheduled matter at the Closed Meeting. order instruction that would allow
Internet Web site (http://www.sec.gov/ Commissioner Stein, as duty officer, Members 3 to indicate a time upon
rules/sro.shtml). Copies of the voted to consider the items listed for the which their order may become eligible
submission, all subsequent Closed Meeting in closed session. for execution and (2) Exchange Rule
amendments, all written statements 11.8 to identify the order types that may
The subject matter of the Closed
with respect to the proposed rule utilize an Effective Start Time order
Meeting will be:
change that are filed with the instruction. The proposed rule change
Commission, and all written Institution and settlement of
was published for comment in the
communications relating to the injunctive actions;
Federal Register on September 10,
proposed rule change between the Institution and settlement of 2015.4
Commission and any person, other than administrative proceedings; Section 19(b)(2) of the Act 5 provides
those that may be withheld from the Adjudicatory matters; that, within 45 days of the publication
public in accordance with the of notice of the filing of a proposed rule
provisions of 5 U.S.C. 552, will be Opinion;
change, or within such longer period up
available for Web site viewing and Post argument discussion; and to 90 days as the Commission may
printing in the Commission’s Public Other matters relating to enforcement designate if it finds such longer period
Reference Room, 100 F Street NE., proceedings. to be appropriate and publishes its
Washington, DC 20549 on official At times, changes in Commission reasons for so finding or as to which the
business days between the hours of priorities require alterations in the self-regulatory organization consents,
10:00 a.m. and 3:00 p.m. Copies of such scheduling of meeting items. the Commission shall either approve the
filing also will be available for proposed rule change, disapprove the
inspection and copying at the principal For further information and to proposed rule change, or institute
office of the Exchange. All comments ascertain what, if any, matters have been proceedings to determine whether the
received will be posted without change; added, deleted or postponed, please proposed rule change should be
the Commission does not edit personal contact the Office of the Secretary at
identifying information from (202) 551–5400. 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
submissions. You should submit only Dated: October 22, 2015.
tkelley on DSK3SPTVN1PROD with NOTICES

3 The term ‘‘Member’’ is defined as ‘‘any
information that you wish to make Brent J. Fields, registered broker or dealer that has been admitted
available publicly. All submissions Secretary. to membership in the Exchange.’’ See Exchange
should refer to File Number SR– [FR Doc. 2015–27394 Filed 10–23–15; 11:15 am] Rule 1.5(n).
4 See Securities Exchange Act Release No. 75835
NYSEMKT–2015–78, and should be BILLING CODE 8011–01–P
(September 3, 2015), 80 FR 54635 (SR–EDGA–
submitted on or before November 17, 2015–36).
2015. 16 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78s(b)(2).

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Document Created: 2015-12-14 15:36:11
Document Modified: 2015-12-14 15:36:11

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 65833