80 FR 66102 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Exchange Rule 6.25
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 208 (October 28, 2015)
Federal Register Volume 80, Issue 208 (October 28, 2015)
| Page Range | 66102-66104 | |
| FR Document | 2015-27343 |
[Federal Register Volume 80, Number 208 (Wednesday, October 28, 2015)] [Notices] [Pages 66102-66104] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27343] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76223; File No. SR-CBOE-2015-097] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Exchange Rule 6.25 October 22, 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 October 21, 2015, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II 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. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to extend a pilot program related to Rule 6.25 (Nullification and Adjustment of Options Transactions including Obvious Errors). The text of the proposed rule change is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant 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 purpose of this filing is to extend the effectiveness of the Exchange's current rule applicable to obvious errors. Interpretation and Policy .01 to Rule 6.25, explained in further detail below, is currently operating on a pilot program set to expire on October 23, 2015. The Exchange proposes to extend the pilot program so that it coincides with the pilot period for the Plan to Address Extraordinary Market Volatility Pursuant to Rule 608 of Regulation NMS under the Act (``Limit Up-Limit Down Plan'' or ``Plan''), including any extensions to the pilot period for the Plan. Currently the Plan Participants have proposed the 9th amendment to the Plan which, if approved, would extend the pilot period of the Plan to April 22, 2016.\3\ --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 75917 (September 14, 2015), 80 FR 56515 (September 18, 2015) (File No. 4-631). --------------------------------------------------------------------------- On April 5, 2013, the Commission approved, on a pilot basis, amendments to Exchange Rule 6.25 that stated that options executions will not be adjusted or nullified if the execution occurs while the underlying security is in a limit or straddle state as defined by the Plan.\4\ Under the terms of this current pilot program, though options executions will generally not be subject to review as an Obvious Error or [[Page 66103]] Catastrophic Error while the underlying security is in a limit or straddle state, such executions may be reviewed by the Exchange should the Exchange decide to do so under its own motion pursuant to sub- paragraph (c)(3) of Rule 6.25, or a bust or adjust pursuant to paragraphs (e) through (j) and Interpretation .05 of Rule 6.25.\5\ --------------------------------------------------------------------------- \4\ Securities Exchange Act Release No. 69328 (April 5, 2013), 78 FR 21642 (April 11, 2013) (SR-CBOE-2013-030). See also Exchange Rule 6.25.01. \5\ Id. --------------------------------------------------------------------------- Pursuant to a comment letter filed in connection with the order approving the establishment of the pilot, the Exchange committed to submit monthly data regarding the program.\6\ In addition, the Exchange agreed to submit an overall analysis of the pilot in conjunction with the data submitted under the Plan and any other data as requested by the Commission.\7\ Pursuant to a rule filing, approved on April 3, 2014, each month, the Exchange committed to provide the Commission, and the public, a dataset containing the data for each straddle and limit state in optionable stocks that had at least one trade on the Exchange.\8\ The Exchange will continue to provide the Commission with this data on a monthly basis from October 2015 through the end of the pilot. For each trade on the Exchange, the Exchange will provide (a) the stock symbol, option symbol, time at the start of the straddle or limit state, an indicator for whether it is a straddle or limit state, and (b) for the trades on the Exchange, the executed volume, time- weighted quoted bid-ask spread, time-weighted average quoted depth at the bid, time-weighted average quoted depth at the offer, high execution price, low execution price, number of trades for which a request for review for error was received during straddle and limit states, an indicator variable for whether those options outlined above have a price change exceeding 30% during the underlying stock's limit or straddle state compared to the last available option price as reported by OPRA before the start of the limit or straddle state (1 if observe 30% and 0 otherwise), and another indicator variable for whether the option price within five minutes of the underlying stock leaving the limit or straddle state (or halt if applicable) is 30% away from the price before the start of the limit or straddle state. --------------------------------------------------------------------------- \6\ See letter from Angelo Evangelou, Associate General Counsel, Chicago Board Options Exchange, Incorporated, date April 4, 2013. \7\ Id. \8\ Securities Exchange Act Release No. 71857 (April 3, 2014), 79 FR 19678 (April 9, 2014) (SR-CBOE-2014-033). --------------------------------------------------------------------------- In addition, the Exchange will provide to the Commission, and the public, assessments relating to the impact of the operation of the obvious error rules during limit and straddle states including: (1) An evaluation of the statistical and economic impact of limit and straddle states on liquidity and market quality in the options markets, and (2) an assessment of whether the lack of obvious error rules in effect during the straddle and limit states are problematic. The Exchange agrees to provide the analysis and data, to the commission, to help evaluate the impact of the pilot program no later than five months prior to the expiration of the pilot program, including any extensions. If the Plan extension is approved, the next data assessment will be submitted no later than December 18, 2015. The Exchange is now proposing to extend the pilot period so that it coincides with the pilot period for the Plan, including any extensions to the pilot period for the Plan. The pilot will no longer have a fixed expiration date. The Exchange believes the benefits to market participants from this provision should continue on a pilot basis to coincide with the Plan. The Exchange continues to believe that adding certainty to the execution of orders in limit or straddle states will encourage market participants to continue to provide liquidity to the Exchange, and, thus, promote a fair and orderly market during these periods. Barring this provision, the provisions of Rule 6.25 would likely apply in many instances during limit and straddle states. The Exchange believes that continuing the pilot will protect against any unanticipated consequences in the options markets during a limit or straddle state. Thus, the Exchange believes that the protections of current Rule should continue while the industry gains further experience operating the Plan. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\9\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \10\ requirements that the rules of an exchange 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 securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \11\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f(b). \10\ 15 U.S.C. 78f(b)(5). \11\ Id. --------------------------------------------------------------------------- In particular, the Exchange further believes that it is necessary and appropriate in the interest of promoting fair and orderly markets to exclude transactions executed during a limit or straddle state from certain aspects of the Exchange Rule 6.25. The Exchange believes the application of the current rule will be impracticable given the lack of a reliable NBBO in the options market during limit and straddle states, and that the resulting actions (i.e., nullified trades or adjusted prices) may not be appropriate given market conditions. The Exchange now proposes to extend the pilot program so that it coincides with the pilot period for the Plan, including any extensions to the pilot period for the Plan. Extension of this pilot would ensure that limit orders that are filled during a limit or straddle state would have certainty of execution in a manner that promotes just and equitable principles of trade, removes impediments to, and perfects the mechanism of a free and open market and a national market system. Thus, the Exchange believes that the protections of the pilot should continue while the industry gains further experience operating the Plan. B. Self-Regulatory Organization's Statement on Burden on Competition CBOE 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. Specifically, the Exchange believes that, by extending the duration of the pilot to coincide with the pilot period for the Plan, the proposed rule change will allow for further analysis of the pilot and a determination of how the pilot shall be structured in the future. In doing so, the proposed rule change will also serve to promote regulatory clarity and consistency, thereby reducing burdens on the marketplace and facilitating investor protection. [[Page 66104]] C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the 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 if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b- 4(f)(6)(iii) thereunder.\13\ --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 17 CFR 240.19b-4(f)(6)(iii). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the text of 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 asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest, as it will allow the obvious error pilot program to continue uninterrupted while the industry gains further experience operating under the Plan, and avoid any investor confusion that could result from a temporary interruption in the pilot program. For this reason, the Commission designates the proposed rule change to be operative upon filing.\14\ --------------------------------------------------------------------------- \14\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-CBOE-2015-097 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-CBOE-2015-097. 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-CBOE-2015-097, and should be submitted on or before November 18, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-27343 Filed 10-27-15; 8:45 am] BILLING CODE 8011-01-P
![66102 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices
program to continue uninterrupted public in accordance with the Options Transactions including Obvious
while the industry gains further provisions of 5 U.S.C. 552, will be Errors). The text of the proposed rule
experience operating under the LULD available for Web site viewing and change is available on the Exchange’s
Plan, and avoid any investor confusion printing in the Commission’s Public Web site (http://www.cboe.com/About
that could result from a temporary Reference Room, 100 F Street NE., CBOE/CBOELegalRegulatory
interruption in the pilot program. For Washington, DC 20549 on official Home.aspx), at the Exchange’s Office of
this reason, the Commission designates business days between the hours of the Secretary, and at the Commission’s
the proposed rule change to be operative 10:00 a.m. and 3:00 p.m. Copies of such Public Reference Room.
upon filing.10 filing also will be available for
At any time within 60 days of the II. Self-Regulatory Organization’s
inspection and copying at the principal
filing of the proposed rule change, the Statement of the Purpose of, and
office of the Exchange. All comments
Commission summarily may Statutory Basis for, the Proposed Rule
received will be posted without change;
temporarily suspend such rule change if Change
the Commission does not edit personal
it appears to the Commission that such identifying information from In its filing with the Commission, the
action is necessary or appropriate in the submissions. You should submit only Exchange included statements
public interest, for the protection of information that you wish to make concerning the purpose of and basis for
investors, or otherwise in furtherance of available publicly. All submissions the proposed rule change and discussed
the purposes of the Act. If the should refer to File Number SR–MIAX– any comments it received on the
Commission takes such action, the 2015–60, and should be submitted on or proposed rule change. The text of these
Commission shall institute proceedings before November 18, 2015. statements may be examined at the
to determine whether the proposed rule For the Commission, by the Division places specified in Item IV below. The
should be approved or disapproved. of Trading and Markets, pursuant to Exchange has prepared summaries, set
IV. Solicitation of Comments delegated authority.11 forth in sections A, B, and C below, of
the most significant aspects of such
Interested persons are invited to Brent J. Fields, statements.
submit written data, views, and Secretary.
arguments concerning the foregoing, [FR Doc. 2015–27356 Filed 10–27–15; 8:45 am]
A. Self-Regulatory Organization’s
including whether the proposed rule Statement of the Purpose of, and
BILLING CODE 8011–01–P
change is consistent with the Act. Statutory Basis for, the Proposed Rule
Comments may be submitted by any of Change
the following methods: SECURITIES AND EXCHANGE 1. Purpose
Electronic Comments COMMISSION
The purpose of this filing is to extend
• Use the Commission’s Internet [Release No. 34–76223; File No. SR–CBOE– the effectiveness of the Exchange’s
comment form (http://www.sec.gov/ 2015–097] current rule applicable to obvious
rules/sro.shtml); or errors. Interpretation and Policy .01 to
• Send an email to rule-comments@ Self-Regulatory Organizations; Rule 6.25, explained in further detail
sec.gov. Please include File Number SR– Chicago Board Options Exchange, below, is currently operating on a pilot
MIAX–2015–60 on the subject line. Incorporated; Notice of Filing and program set to expire on October 23,
Immediate Effectiveness of a Proposed 2015. The Exchange proposes to extend
Paper Comments Rule Change Relating to Exchange the pilot program so that it coincides
• Send paper comments in triplicate Rule 6.25 with the pilot period for the Plan to
to Brent J. Fields, Secretary, Securities Address Extraordinary Market Volatility
October 22, 2015.
and Exchange Commission, 100 F Street Pursuant to Rule 608 of Regulation NMS
NE., Washington, DC 20549–1090. Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the under the Act (‘‘Limit Up-Limit Down
All submissions should refer to File Plan’’ or ‘‘Plan’’), including any
‘‘Act’’),1 and Rule 19b–4 thereunder,2
Number SR–MIAX–2015–60. This file extensions to the pilot period for the
notice is hereby given that on October
number should be included on the Plan. Currently the Plan Participants
21, 2015, Chicago Board Options
subject line if email is used. To help the have proposed the 9th amendment to
Exchange, Incorporated (the ‘‘Exchange’’
Commission process and review your the Plan which, if approved, would
or ‘‘CBOE’’) filed with the Securities
comments more efficiently, please use extend the pilot period of the Plan to
and Exchange Commission (the
only one method. The Commission will April 22, 2016.3
‘‘Commission’’) the proposed rule
post all comments on the Commission’s On April 5, 2013, the Commission
change as described in Items I and II
Internet Web site (http://www.sec.gov/ approved, on a pilot basis, amendments
below, which Items have been prepared
rules/sro.shtml). Copies of the to Exchange Rule 6.25 that stated that
by the Exchange. The Commission is
submission, all subsequent options executions will not be adjusted
publishing this notice to solicit
amendments, all written statements or nullified if the execution occurs
comments on the proposed rule change
with respect to the proposed rule while the underlying security is in a
from interested persons.
change that are filed with the limit or straddle state as defined by the
Commission, and all written I. Self-Regulatory Organization’s Plan.4 Under the terms of this current
communications relating to the Statement of the Terms of the Substance pilot program, though options
proposed rule change between the of the Proposed Rule Change
mstockstill on DSK4VPTVN1PROD with NOTICES
executions will generally not be subject
Commission and any person, other than The Exchange proposes to extend a to review as an Obvious Error or
those that may be withheld from the pilot program related to Rule 6.25
3 See Securities Exchange Act Release No. 75917
10 For
(Nullification and Adjustment of (September 14, 2015), 80 FR 56515 (September 18,
purposes only of waiving the 30-day
operative delay, the Commission has also 2015) (File No. 4–631).
11 17 CFR 200.30–3(a)(12).
considered the proposed rule’s impact on 4 Securities Exchange Act Release No. 69328
1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See (April 5, 2013), 78 FR 21642 (April 11, 2013) (SR–
15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. CBOE–2013–030). See also Exchange Rule 6.25.01.
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![66104 Federal Register / Vol. 80, No. 208 / Wednesday, October 28, 2015 / Notices
C. Self-Regulatory Organization’s IV. Solicitation of Comments For the Commission, by the Division of
Statement on Comments on the Trading and Markets, pursuant to delegated
Proposed Rule Change Received From Interested persons are invited to authority.15
Members, Participants, or Others submit written data, views, and Brent J. Fields,
arguments concerning the foregoing, Secretary.
The Exchange neither solicited nor
received comments on the proposed including whether the proposed rule [FR Doc. 2015–27343 Filed 10–27–15; 8:45 am]
rule change. change is consistent with the Act. BILLING CODE 8011–01–P
Comments may be submitted by any of
III. Date of Effectiveness of the the following methods:
Proposed Rule Change and Timing for
Commission Action Electronic Comments DEPARTMENT OF STATE
[Public Notice: 9332; No. 2014–4 ]
Because the proposed rule change • Use the Commission’s Internet
does not (i) significantly affect the comment form (http://www.sec.gov/
protection of investors or the public Determination
rules/sro.shtml); or
interest; (ii) impose any significant The Foreign Missions Act (FMA),
burden on competition; and (iii) become • Send an email to rule-comments@
codified at 22 U.S.C. 4301–4316,
operative for 30 days from the date on sec.gov. Please include File Number SR–
authorizes the Secretary of State to
which it was filed, or such shorter time CBOE–2015–097 on the subject line.
approve the terms and conditions on
as the Commission may designate if Paper Comments which benefits are provided to foreign
consistent with the protection of missions and to make compliance with
investors and the public interest, the • Send paper comments in triplicate those terms and conditions by foreign
proposed rule change has become to Secretary, Securities and Exchange missions mandatory. 22 U.S.C. 4304(a),
effective pursuant to Section 19(b)(3)(A) Commission, 100 F Street NE., (b). Furthermore, the FMA provides that
of the Act 12 and Rule 19b–4(f)(6)(iii) Washington, DC 20549–1090. the ‘‘[t]erms and conditions established
thereunder.13 by the Secretary under this section may
The Exchange has asked the All submissions should refer to File
include . . . a requirement to pay to the
Commission to waive the 30-day Number SR–CBOE–2015–097. This file
Secretary a surcharge or fee.’’ 22 U.S.C.
operative delay so that the proposal may number should be included on the
4304(c)(1). The FMA also authorizes the
become operative immediately upon subject line if email is used. To help the Secretary to make any provision of the
filing. The Commission believes that Commission process and review your FMA applicable to international
waiving the 30-day operative delay is comments more efficiently, please use organizations (as defined in 22 U.S.C.
consistent with the protection of only one method. The Commission will 4309(b)) when the Secretary determines
investors and the public interest, as it post all comments on the Commission’s that such application is necessary to
will allow the obvious error pilot Internet Web site (http://www.sec.gov/ carry out the policy and objectives set
program to continue uninterrupted rules/sro.shtml). Copies of the forth in the FMA. 22 U.S.C. 4309(a).
while the industry gains further submission, all subsequent Therefore, pursuant to the authority
experience operating under the Plan, amendments, all written statements vested in me by the FMA, in particular,
and avoid any investor confusion that with respect to the proposed rule 22 U.S.C. 4304(b), and Delegation of
could result from a temporary
change that are filed with the Authority No. 198 of September 16,
interruption in the pilot program. For
Commission, and all written 1992, I hereby determine that it is
this reason, the Commission designates
communications relating to the reasonably necessary to protect the
the proposed rule change to be operative
proposed rule change between the interests of the United States to require
upon filing.14
At any time within 60 days of the Commission and any person, other than foreign missions and international
filing of the proposed rule change, the those that may be withheld from the organizations, and, in each case, their
Commission summarily may public in accordance with the staff members (each a ‘‘Beneficiary’’ and
temporarily suspend such rule change if provisions of 5 U.S.C. 552, will be collectively, ‘‘Beneficiaries’’) to pay a
it appears to the Commission that such available for Web site viewing and surcharge or fee in instances where a
action is necessary or appropriate in the printing in the Commission’s Public Beneficiary creates resource demands
public interest, for the protection of Reference Room, 100 F Street NE., on the Office of Foreign Missions (OFM)
investors, or otherwise in furtherance of Washington, DC 20549 on official by: (1) Requesting the replacement of
the purposes of the Act. If the business days between the hours of OFM-issued products; (2) failing to
Commission takes such action, the comply with the Department’s
10:00 a.m. and 3:00 p.m. Copies of such
Commission shall institute proceedings requirements relating to the acquisition
filing also will be available for
to determine whether the proposed rule or maintenance of liability insurance,
inspection and copying at the principal license tags, or title and registration
should be approved or disapproved. office of the Exchange. All comments documents for motor vehicles, vessels,
received will be posted without change; and aircraft; or (3) otherwise failing to
12 15 U.S.C. 78s(b)(3)(A).
13 17
the Commission does not edit personal comply with the terms on which the
CFR 240.19b–4(f)(6)(iii). As required under
Rule 19b–4(f)(6)(iii), the Exchange provided the identifying information from Department has required Beneficiaries
Commission with written notice of its intent to file submissions. You should submit only to obtain or forego benefits under the
the proposed rule change, along with a brief information that you wish to make
mstockstill on DSK4VPTVN1PROD with NOTICES
description and the text of the proposed rule
FMA.
change, at least five business days prior to the date
available publicly. All submissions The authority to regulate the
of filing of the proposed rule change, or such should refer to File Number SR–CBOE– provision of foreign mission benefits
shorter time as designated by the Commission. 2015–097, and should be submitted on under the FMA has been delegated to
14 For purposes only of waiving the 30-day
or before November 18, 2015. the Director of OFM (Delegation of
operative delay, the Commission has also
considered the proposed rule’s impact on Authority No. 214, October 5, 1994).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 15 17 CFR 200.30–3(a)(12).
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Document Created: 2018-02-27 08:58:02
Document Modified: 2018-02-27 08:58:02
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 80 FR 66102 |
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