80 FR 66947 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Options Testing Facility
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 210 (October 30, 2015)
Federal Register Volume 80, Issue 210 (October 30, 2015)
| Page Range | 66947-66949 | |
| FR Document | 2015-27650 |
[Federal Register Volume 80, Number 210 (Friday, October 30, 2015)] [Notices] [Pages 66947-66949] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27650] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76259; File No. SR-NASDAQ-2015-117] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Options Testing Facility October 26, 2015. Pursuant to 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 16, 2015, The NASDAQ Stock Market LLC (``Nasdaq'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the 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. --------------------------------------------------------------------------- \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 amend its Options Pricing at Chapter XV to adopt a new Section 13, entitled ``Testing Facilities'' which describes fees in connection with the use of the Testing Facility (``NTF'') test environment located in Carteret, New Jersey. While the changes proposed herein are effective upon filing, the Exchange has designated that the amendments be operative on October 26, 2015. The text of the proposed rule change is available on the Exchange's Web site at http://nasdaq.cchwallstreet.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 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 Nasdaq proposes to amend its Options Pricing at Chapter XV to adopt a new Section 13, entitled ``Testing Facilities'' to establish fees to subscribe for testing. Currently, Options Participants may test in a virtual trading environment for purposes of testing in Ashburn, Virginia (``Ashburn''), at no cost. The NTF provides subscribers a virtual System environment for testing upcoming Nasdaq releases and product enhancements, as well as testing firm software prior to implementation. The test environment closely approximates the production environment to enable subscribers to test their automated systems that integrate with the Exchange. The Exchange is moving the options test environment from the Ashburn location to Carteret, NJ (``Carteret''), which is also the location of Nasdaq's primary trading System. While Options Participants will be able to continue to utilize the Ashburn facility at no cost until that facility is no longer in use, Options Participants will be able to subscribe to the Carteret test facility for future testing.\3\ --------------------------------------------------------------------------- \3\ The Exchange anticipates that it will sunset the Ashburn trading testing functionality on January 29, 2016. --------------------------------------------------------------------------- The relatively large distance between the Ashburn Testing Facility and the majority of Nasdaq firms results in expensive connectivity costs for customers that connect via telecommunication providers. As a consequence, a large majority of member firms do not connect to Ashburn for NTF connectivity. In an effort to improve the utility of the NTF, Nasdaq is developing a test environment located in Carteret that will provide the same functionality as the testing functionality of Ashburn, yet more closely approximate the live trading environment due to its proximity to the System and upgraded hardware. In particular, the Carteret test environment will take advantage of technology upgrades Nasdaq is making to its trading-related systems. Unlike the Ashburn test environment, the Carteret test environment will provide dedicated connectivity to the facility via a cross-connection to either a member firm's direct connection router in Carteret or its co-location cabinet. Nasdaq notes that, because the Carteret facility also houses the System, subscribers to the Carteret test environment will no longer need to pay for third party connectivity to Ashburn,\4\ provided the sole purpose for connecting to Ashburn is for testing and not also for co-location or disaster recovery. Such member firms may use an existing connection to Carteret to access the NTF through the use of a dedicated switch port and cross connect within the facility. Similar to the equities test facility,\5\ the Exchange will assess a fee for the connection to this virtual trading environment for testing. Specifically, Nasdaq proposes a $1,000 per hand-off, per month fee for connection to the Testing Facility. The hand-off fee includes either a 1Gb or 10Gb switch port and a cross connect to the Testing Facility. Subscribers shall also pay a one-time installation fee of $1,000 per hand-off. --------------------------------------------------------------------------- \4\ Today, member firms pay fees to third party connectivity providers to provide connection from the member firm to Ashburn. \5\ See Nasdaq Rule 7030, concerning equities pricing. --------------------------------------------------------------------------- The connectivity provided under this rule also provides connectivity to the other test environments of NASDAQ OMX PHLX LLC and NASDAQ OMX BX, Inc. Additionally, the connectivity may be utilized for either equities or options testing. If for example a Phlx [sic] member has already paid the $1,000 per hand-off, per month for connection to the Testing Facility in Carteret, there would be no need to pay this fee for options testing. Notwithstanding the foregoing, Nasdaq will also continue to offer certain limited testing capabilities free of charge at Carteret. Options Participants that connect to Cartert's [sic] NTF through a virtual private network (``VPN'') through the internet for site-to-site limited order routing [[Page 66948]] capability only will not be assessed a fee. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \6\ in general, and with Sections 6(b)(4) and 6(b)(5) of the Act,\7\ in particular. Nasdaq believes the proposal is consistent with Section 6(b)(4) of the Act \8\ in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and issuers and other persons using any facility or system which the Exchange operates or controls. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b). \7\ 15 U.S.C. 78f(b)(4) and (5). \8\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The proposed fees are equitably allocated because all Options Participants desiring to connect to the Carteret test environment will be assessed a uniform fee for those services. The Exchange believes that offering subscribers the option to subscribe to either 1Gb or 10Gb for the same fee is an equitable allocation because, unlike the live trading environment, there is no competitive advantage to possessing a higher capacity switch port in the test environment. The test environment is designed to closely mirror the live trading environment for Options Participants, including matching the capacity of each Options Participant's live environment switch port. In the absence of any competitive advantage, charging a uniform fee for both 1Gb and 10Gb switch ports is an equitable allocation of fees. Nasdaq believes that charging a uniform fee will encourage member firms to subscribe to Carteret, and further encourage those that subscribe to use the same hardware as is used by them for connectivity to the live trading environment. The proposed fees are reasonable because they are designed to cover the costs incurred by the Exchange to develop the test facility and the costs incurred by the Exchange to continue to offer the test environment. The proposed fee should allow the Exchange to recoup these costs and also make a profit, while providing Options Participants with a superior test environment that more closely mirrors that of the live trading environment on the Exchange. Nasdaq believes that offering both 1Gb and 10Gb connectivity for the same fee is reasonable as the increased incremental cost it incurs by offering the 10Gb switch port at the lower fee is outweighed by the benefit all subscribers will receive if Options Participants use hardware identical to what they use in the live trading environment, hence furthering the goal of creating a test environment that closely mirrors the live trading environment. Further, the connectivity provided under this rule also provides connectivity to the other test environments of NASDAQ OMX PHLX LLC and NASDAQ OMX BX, Inc. This connectivity may be utilized for either equities or options testing. If for example a Nasdaq member has already paid the $1,000 per hand-off, per month for connection to the Testing Facility in Carteret, there would be no need to pay this fee for options testing. The Exchange also believes the proposal furthers the objectives of Section 6(b)(5) of the Act \9\ in that it is designed to promote just and equitable principles of trade, 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 and is not designed to permit unfair discrimination between customer, issuers, brokers and dealers. Nasdaq does not believe that the proposed fees are unfairly discriminatory to subscribers to 10Gb live trading environment connectivity because, unlike the live trading environment where the capacity of connectivity to Nasdaq may confer a competitive advantage to a market participant and therefore price differentiation is appropriate for the benefit conferred, there is no such benefit conferred in the trade test environment. Nasdaq does not believe that the proposed fees are unfairly discriminatory among subscribers to the Carteret test facility because all Options Participants that subscribe to the service will be assessed the same fees. Because the proposed fees do not discriminate between 1Gb and 10Gb connectivity options, Options Participants are able to subscribe to Carteret without regard to the cost of their switch port capacity election. Nasdaq believes that by not discriminating on this basis it will encourage participants to connect to the Carteret test environment in the same manner as they do to the live trading environment, and thereby help Carteret more closely mirror the live test environment, as discussed above. Providing a more useful and accurate test environment will serve to improve live trading on Nasdaq and the national market system by permitting Options Participants the ability to accurately test changes prior to implementing them in the live trading environment, thereby reducing the likelihood of a potentially disruptive system failure in the live trading environment, which has the potential to affect all market participants. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- Finally, the Exchange will continue to offer Options Participants certain limited testing capabilities free of charge at Carteret through VPN. While this feature offers limited capability in terms of functionality, the Exchange continues to offer a free of charge alternative to Options Participants desiring to utilize the NTF. B. Self-Regulatory Organization's Statement on Burden on Competition Nasdaq does not believe that the proposed rule change will result in any intra-market or inter-market burdens on competition that are not necessary or appropriate in furtherance of the purposes of the Act, as amended. The proposed fees for access to the Carteret test environment more closely approximate the live trading environment, subscribing member firms will be able to more accurately test their trading systems and avoid potentially disruptive system failures in the live trading environment. Despite the fee that will now be assessed to Options Participants for testing, the Exchange believes that Options Participants utilizing this service will benefit from the move to Carteret because the test environment is designed to closely mirror the live trading environment for Options Participants, including matching the capacity of each Options Participant's live environment switch port. Subscribing to the test facility is optional. Also, the connectivity provided under this rule also provides connectivity to the other test environments of NASDAQ OMX PHLX LLC and NASDAQ OMX BX, Inc. Members that are already connected for equities testing would not incur an additional charge. This connectivity may be utilized for either equities or options testing. Finally, subscribing to the test facility is optional. Additionally, the Exchange does not believe that the move to Carteret and imposition of connectivity fees to the NTF creates an undue burden on competition because the Exchange will continue to offer Options Participants certain limited testing capabilities free of charge at Carteret through VPN. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. [[Page 66949]] III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.\10\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A)(ii). --------------------------------------------------------------------------- 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: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) 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-NASDAQ-2015-117 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NASDAQ-2015-117. 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-NASDAQ-2015-117, and should be submitted on or before November 20, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-27650 Filed 10-29-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 210 / Friday, October 30, 2015 / Notices 66947
principal office and on its Internet Web at http://nasdaq.cchwallstreet.com, at effort to improve the utility of the NTF,
site at www.nyse.com. All comments the principal office of the Exchange, and Nasdaq is developing a test environment
received will be posted without change; at the Commission’s Public Reference located in Carteret that will provide the
the Commission does not edit personal Room. same functionality as the testing
identifying information from functionality of Ashburn, yet more
II. Self-Regulatory Organization’s
submissions. You should submit only closely approximate the live trading
Statement of the Purpose of, and
information that you wish to make environment due to its proximity to the
Statutory Basis for, the Proposed Rule
available publicly. All submissions System and upgraded hardware. In
Change
should refer to File Number SR– particular, the Carteret test environment
NYSEMKT–2015–70 and should be In its filing with the Commission, the will take advantage of technology
submitted on or before November 20, Exchange included statements upgrades Nasdaq is making to its
2015. concerning the purpose of and basis for trading-related systems. Unlike the
the proposed rule change and discussed Ashburn test environment, the Carteret
For the Commission, by the Division of
Trading and Markets, pursuant to delegated any comments it received on the test environment will provide dedicated
authority.17 proposed rule change. The text of these connectivity to the facility via a cross-
Robert W. Errett, statements may be examined at the connection to either a member firm’s
places specified in Item IV below. The direct connection router in Carteret or
Deputy Secretary.
Exchange has prepared summaries, set its co-location cabinet.
[FR Doc. 2015–27655 Filed 10–29–15; 8:45 am]
forth in sections A, B, and C below, of
BILLING CODE 8011–01–P
the most significant aspects of such Nasdaq notes that, because the
statements. Carteret facility also houses the System,
subscribers to the Carteret test
SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s environment will no longer need to pay
COMMISSION Statement of the Purpose of, and for third party connectivity to Ashburn,4
Statutory Basis for, the Proposed Rule provided the sole purpose for
[Release No. 34–76259; File No. SR–
NASDAQ–2015–117] Change connecting to Ashburn is for testing and
1. Purpose not also for co-location or disaster
Self-Regulatory Organizations; The recovery. Such member firms may use
NASDAQ Stock Market LLC; Notice of Nasdaq proposes to amend its Options an existing connection to Carteret to
Filing and Immediate Effectiveness of Pricing at Chapter XV to adopt a new access the NTF through the use of a
Proposed Rule Change to Options Section 13, entitled ‘‘Testing Facilities’’ dedicated switch port and cross connect
Testing Facility to establish fees to subscribe for testing. within the facility. Similar to the
Currently, Options Participants may test equities test facility,5 the Exchange will
October 26, 2015. in a virtual trading environment for assess a fee for the connection to this
Pursuant to Section 19(b)(1) of the purposes of testing in Ashburn, Virginia
virtual trading environment for testing.
Securities Exchange Act of 1934 (‘‘Ashburn’’), at no cost. The NTF
Specifically, Nasdaq proposes a $1,000
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 provides subscribers a virtual System
per hand-off, per month fee for
notice is hereby given that, on October environment for testing upcoming
connection to the Testing Facility. The
16, 2015, The NASDAQ Stock Market Nasdaq releases and product
hand-off fee includes either a 1Gb or
LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed enhancements, as well as testing firm
10Gb switch port and a cross connect to
with the Securities and Exchange software prior to implementation. The
the Testing Facility. Subscribers shall
Commission (‘‘Commission’’) the test environment closely approximates
also pay a one-time installation fee of
proposed rule change as described in the production environment to enable
$1,000 per hand-off.
Items I, II, and III below, which Items subscribers to test their automated
have been prepared by the Exchange. systems that integrate with the The connectivity provided under this
The Commission is publishing this Exchange. rule also provides connectivity to the
notice to solicit comments on the The Exchange is moving the options other test environments of NASDAQ
proposed rule change from interested test environment from the Ashburn OMX PHLX LLC and NASDAQ OMX
persons. location to Carteret, NJ (‘‘Carteret’’), BX, Inc. Additionally, the connectivity
which is also the location of Nasdaq’s may be utilized for either equities or
I. Self-Regulatory Organization’s primary trading System. While Options options testing. If for example a Phlx
Statement of the Terms of the Substance Participants will be able to continue to [sic] member has already paid the
of the Proposed Rule Change utilize the Ashburn facility at no cost $1,000 per hand-off, per month for
The Exchange proposes to amend its until that facility is no longer in use, connection to the Testing Facility in
Options Pricing at Chapter XV to adopt Options Participants will be able to Carteret, there would be no need to pay
a new Section 13, entitled ‘‘Testing subscribe to the Carteret test facility for this fee for options testing.
Facilities’’ which describes fees in future testing.3 Notwithstanding the foregoing,
connection with the use of the Testing The relatively large distance between Nasdaq will also continue to offer
Facility (‘‘NTF’’) test environment the Ashburn Testing Facility and the certain limited testing capabilities free
located in Carteret, New Jersey. majority of Nasdaq firms results in of charge at Carteret. Options
While the changes proposed herein expensive connectivity costs for Participants that connect to Cartert’s
are effective upon filing, the Exchange customers that connect via [sic] NTF through a virtual private
has designated that the amendments be telecommunication providers. As a network (‘‘VPN’’) through the internet
tkelley on DSK3SPTVN1PROD with NOTICES
operative on October 26, 2015. consequence, a large majority of for site-to-site limited order routing
The text of the proposed rule change member firms do not connect to
is available on the Exchange’s Web site Ashburn for NTF connectivity. In an 4 Today, member firms pay fees to third party
connectivity providers to provide connection from
17 17 CFR 200.30–3(a)(12). 3 The Exchange anticipates that it will sunset the the member firm to Ashburn.
1 15 U.S.C. 78s(b)(1). Ashburn trading testing functionality on January 29, 5 See Nasdaq Rule 7030, concerning equities
2 17 CFR 240.19b–4. 2016. pricing.
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III. Date of Effectiveness of the Washington, DC 20549 on official has designated that the amendments be
Proposed Rule Change and Timing for business days between the hours of operative on October 26, 2015.
Commission Action 10:00 a.m. and 3:00 p.m. Copies of such The text of the proposed rule change
filing also will be available for is available on the Exchange’s Web site
The foregoing rule change has become
inspection and copying at the principal at http://
effective pursuant to Section
office of the Exchange. All comments nasdaqomxbx.cchwallstreet.com/, at the
19(b)(3)(A)(ii) of the Act.10
received will be posted without change; principal office of the Exchange, and at
At any time within 60 days of the
the Commission does not edit personal the Commission’s Public Reference
filing of the proposed rule change, the Room.
Commission summarily may identifying information from
temporarily suspend such rule change if submissions. You should submit only II. Self-Regulatory Organization’s
it appears to the Commission that such information that you wish to make Statement of the Purpose of, and
action is: (i) Necessary or appropriate in available publicly. All submissions Statutory Basis for, the Proposed Rule
the public interest; (ii) for the protection should refer to File Number SR– Change
of investors; or (iii) otherwise in NASDAQ–2015–117, and should be
submitted on or before November 20, In its filing with the Commission, the
furtherance of the purposes of the Act. Exchange included statements
If the Commission takes such action, the 2015.
concerning the purpose of and basis for
Commission shall institute proceedings For the Commission, by the Division of the proposed rule change and discussed
to determine whether the proposed rule Trading and Markets, pursuant to delegated any comments it received on the
should be approved or disapproved. authority.11
proposed rule change. The text of these
Robert W. Errett, statements may be examined at the
IV. Solicitation of Comments Deputy Secretary. places specified in Item IV below. The
Interested persons are invited to [FR Doc. 2015–27650 Filed 10–29–15; 8:45 am] Exchange has prepared summaries, set
submit written data, views, and BILLING CODE 8011–01–P forth in sections A, B, and C below, of
arguments concerning the foregoing, the most significant aspects of such
including whether the proposed rule statements.
change is consistent with the Act. SECURITIES AND EXCHANGE
Comments may be submitted by any of COMMISSION A. Self-Regulatory Organization’s
the following methods: Statement of the Purpose of, and
[Release No. 34–76258; File No. SR–BX– Statutory Basis for, the Proposed Rule
Electronic Comments 2015–059] Change
• Use the Commission’s Internet 1. Purpose
Self-Regulatory Organizations;
comment form (http://www.sec.gov/
NASDAQ OMX BX, Inc.; Notice of Filing BX proposes to amend its Options
rules/sro.shtml); or
and Immediate Effectiveness of Pricing at Chapter XV to adopt a new
• Send an email to rule-comments@
Proposed Rule Change to Options Section 9, entitled ‘‘Testing Facilities’’
sec.gov. Please include File Number SR–
Testing Facility to establish fees to subscribe for testing.
NASDAQ–2015–117 on the subject line.
Currently, Options Participants may test
Paper Comments October 26, 2015.
in a virtual trading environment for
Pursuant to Section 19(b)(1) of the purposes of testing in Ashburn, Virginia
• Send paper comments in triplicate Securities Exchange Act of 1934
to Brent J. Fields, Secretary, Securities (‘‘Ashburn’’), at no cost. The NTF
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 provides subscribers a virtual System
and Exchange Commission, 100 F Street notice is hereby given that, on October
NE., Washington, DC 20549–1090. environment for testing upcoming BX
16, 2015, NASDAQ OMX BX, Inc. (‘‘BX’’ releases and product enhancements, as
All submissions should refer to File or ‘‘Exchange’’) filed with the Securities well as testing firm software prior to
Number SR–NASDAQ–2015–117. This and Exchange Commission implementation. The test environment
file number should be included on the (‘‘Commission’’) the proposed rule closely approximates the production
subject line if email is used. To help the change as described in Items I, II, and environment to enable subscribers to
Commission process and review your III below, which Items have been test their automated systems that
comments more efficiently, please use prepared by the Exchange. The integrate with the Exchange.
only one method. The Commission will Commission is publishing this notice to The Exchange is moving the options
post all comments on the Commission’s solicit comments on the proposed rule test environment from the Ashburn
Internet Web site (http://www.sec.gov/ change from interested persons. location to Carteret, NJ (‘‘Carteret’’),
rules/sro.shtml). Copies of the which is also the location of BX’s
submission, all subsequent I. Self-Regulatory Organization’s
Statement of the Terms of the Substance primary trading System. While Options
amendments, all written statements Participants will be able to continue to
with respect to the proposed rule of the Proposed Rule Change
utilize the Ashburn facility at no cost
change that are filed with the The Exchange proposes to amend its until that facility is no longer in use,
Commission, and all written Options Pricing at Chapter XV to adopt Options Participants will be able to
communications relating to the a new Section 9, entitled ‘‘Testing subscribe to the Carteret test facility for
proposed rule change between the Facilities’’ which describes fees in future testing.3
Commission and any person, other than connection with the use of the Testing The relatively large distance between
those that may be withheld from the Facility (‘‘NTF’’) test environment the Ashburn Testing Facility and the
tkelley on DSK3SPTVN1PROD with NOTICES
public in accordance with the located in Carteret, New Jersey. majority of BX firms results in
provisions of 5 U.S.C. 552, will be While the changes proposed herein expensive connectivity costs for
available for Web site viewing and are effective upon filing, the Exchange customers that connect via
printing in the Commission’s Public
Reference Room, 100 F Street NE., 11 17 CFR 200.30–3(a)(12). 3 The Exchange anticipates that it will sunset the
1 15 U.S.C. 78s(b)(1). Ashburn trading testing functionality on January 29,
10 15 U.S.C. 78s(b)(3)(A)(ii). 2 17 CFR 240.19b–4. 2016.
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Document Created: 2015-12-14 15:29:38
Document Modified: 2015-12-14 15:29:38
| 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 66947 |
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