80 FR 67440 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Unify Procedures for the Handling of Resting Orders in a Security Subject to a Trading Halt, Pause or Suspension on the Exchange
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 211 (November 2, 2015)
Federal Register Volume 80, Issue 211 (November 2, 2015)
| Page Range | 67440-67443 | |
| FR Document | 2015-27792 |
[Federal Register Volume 80, Number 211 (Monday, November 2, 2015)] [Notices] [Pages 67440-67443] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-27792] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76262; File No. SR-CHX-2015-05] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Unify Procedures for the Handling of Resting Orders in a Security Subject to a Trading Halt, Pause or Suspension on the Exchange 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 19, 2015, the Chicago Stock Exchange, Inc. (``CHX'' or ``Exchange'') filed with the Securities and Exchange Commission (``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 Substance of the Proposed Rule Change CHX proposes to amend CHX Rules to unify procedures for the handling of resting orders in a security subject to a trading halt, pause or suspension on the Exchange. CHX has designated this proposed rule change as non-controversial pursuant to Section 19(b)(3)(A) \3\ of the Act and Rule 19b-4(f)(6) \4\ thereunder and has provided the Commission with the notice required by Rule 19b-4(f)(6)(iii).\5\ The text of this proposed rule change is available on the Exchange's Web site at (www.chx.com) and in the Commission's Public Reference Room. --------------------------------------------------------------------------- \3\ 15 U.S.C. 78s(b)(3)(A). \4\ 17 CFR 240.19b-4(f)(6). \5\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- 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 CHX included statements concerning the purpose of and basis for the proposed rule changes and discussed any comments it received on the [[Page 67441]] proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The CHX has prepared summaries, set forth in sections A, B and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend CHX Rules to unify procedures for the handling of resting orders in a security subject to a trading halt, pause or suspension on the Exchange.\6\ Specifically, the Exchange proposes to apply the current procedures for the handling of resting orders in a security subject to a Limit Up-Limit Down (``LULD'') trading pause \7\ to all trading halts on the Exchange (``proposed unification''). --------------------------------------------------------------------------- \6\ The Exchange may initiate a trading halt, pause or suspension for various reasons, including, but not limited to, technical issues with the Matching System or in response to a regulatory halt initiated by the primary listing market. \7\ See CHX Article 20, Rule 2A(c). --------------------------------------------------------------------------- Currently, upon initiation of any trading halt, pause or suspension in a security on the Exchange, the Exchange will take the following actions:Stop all trading in the security; Cancel all resting orders marked Cancel On Halt, as defined under Article 1, Rule 2(b)(1)(B); and Reject all incoming orders; provided valid incoming Sub- second Non-displayed Auction Process Auction Only Orders (``SNAP AOOs''), as defined under Article 1, Rule 2(h)(3),\8\ not marked Cancel On Halt received during a trading halt on the Exchange will be placed in the SNAP AOO Queue, pursuant to Article 18, Rule 1(c)(4),\9\ and not cancelled.\10\ --------------------------------------------------------------------------- \8\ CHX Article 1, Rule 2(h)(3) is effective, but not yet operative. See infra note 10. \9\ CHX Article 20, Rule 8(b)(2)(A) is effective, but not yet operative. See infra note 10. \10\ The proposed rule change to adopt SNAP was recently approved, but is not yet operative. See Securities Exchange Act Release No. 76087 (October 6, 2015), 80 FR 61540 (October 13, 2015). --------------------------------------------------------------------------- However, the Exchange handles resting orders in a security subject to a trading halt, pause or suspension on the Exchange differently depending on whether trading is stopped due to a LULD trading pause. In the case of a LULD trading pause, the Exchange will cancel all resting orders in the subject security, except that SNAP AOOs not marked Cancel On Halt will be placed or remain in the SNAP AOO Queue and not cancelled.\11\ However, for all other trading halts, pauses or suspensions, the Exchange will maintain the resting orders in the subject security, except that orders marked Cancel On Halt will be cancelled.\12\ --------------------------------------------------------------------------- \11\ See CHX Article 20, Rule 2A(c); see also CHX Article 18, Rule 1(c) (which is effective, but not yet operative); see also supra note 10. \12\ See paragraph .02 of CHX Article 20, Rule 1. --------------------------------------------------------------------------- Upon the initiation of any trading halt, pause or suspension in a security on the Exchange, the Exchange now proposes to cancel all resting orders in the security, while maintaining the current exception for SNAP AOOs not marked Cancel On Halt. To this end, the Exchange proposes various amendments to CHX Rules, as described below. Initially, as a global amendment, the Exchange proposes to replace certain references throughout CHX Rules to trading halts, suspensions and/or pauses, or some combination thereof, with the more uniform ``trading halts, suspensions or pauses.'' The Exchange believes that this consistency will promote clarity of CHX Rules. Specifically, the Exchange proposes to make such amendments to Article 1, Rule 2(b)(1)(B); Article 18, Rule 1(b)(3); Article 20, Rule 1(b) and (d); \13\ and paragraph .02 of Article 20, Rule 1. --------------------------------------------------------------------------- \13\ Incidentally, the Exchange proposes to amend CHX Article 20, Rule 1(b) to replace reference to ``Rules 1(d) and (2)'' with ``CHX Rules'' generally, as trading halts, pauses or suspensions may be effected on the Exchange pursuant to various CHX Rules, including, but not limited to, Article 20, Rules 1(d) and (2). Similarly, the Exchange proposes to amend CHX Article 20, Rule 1(d) to provide that trading may also be halted, paused or suspended on the Exchange, and resumed thereafter, pursuant to other CHX Rules. Specifically, trading halts, pauses or suspensions may be declared and lifted pursuant to the following CHX Rules: Article 20, Rules 1(d), 2, 2A and 10; and Article 22, Rule 6. --------------------------------------------------------------------------- Amended paragraph .02 of Article 20, Rule 1 Current paragraph .02 of Article 20, Rule 1 provides as follows: If trading in one or more issues is suspended or halted, which requires the Exchange to suspend trading in the issue, other than a LULD Trading Pause, all orders in those issues shall remain in the Matching System unless they are cancelled by the Participant that submitted the order. The Matching System shall not accept any orders, or any changes to orders (other than cancellations), in those issues during a trading suspension or halt, subject to Article 18, Rule 1(c). Immediately after the trading halt or suspension has ended, the Matching System shall begin accepting orders and shall match them as provided in Rule 8(d), below. The Exchange now proposes to amend paragraph. 02 to contemplate the proposed unification. The Exchange also proposes to clarify that ``resting'' orders shall be cancelled and that the amended rule applies to trading halts, pauses and suspensions ``on the Exchange,'' which obviates current language providing that the rule applies to trading halts that require the Exchange to suspend trading in the issue. As such, amended paragraph .02 provides as follows: If trading in one or more issues is halted, paused or suspended on the Exchange, all resting orders in those issues shall be cancelled from the Matching System, subject to Article 18, Rule 1(c). The Matching System shall not accept any orders in those issues during a trading halt, pause or suspension, subject to Article 18, Rule 1(c). Immediately after the trading halt, pause or suspension has ended, the Matching System shall begin accepting orders and shall match them as provided in Rule 8(d), below. Amended Article 1, Rule 2(b)(1)(B) (Cancel On Halt) Current Article 1, Rule 2(b)(1)(B) defines ``Cancel On Halt'' as follows: A limit order modifier that requires an order to be automatically cancelled by the Matching System if a trading halt or suspension is declared in that security. The Exchange now proposes to amend the definition to clarify that orders marked Cancel On Halt will be cancelled if a trading halt, pause or suspension is declared in the security ``on the Exchange,'' as certain operational halts declared by away markets may not require the Exchange to suspend trading in the security. Moreover, since the Exchange proposes to cancel all resting orders, except for SNAP AOOs, during a trading halt, pause or suspension, the Exchange proposes to adopt additional language that provides that all limit orders, except for SNAP AOOs, as defined under Article 1, Rule 2(h)(3), shall be deemed to have been received Cancel On Halt, which cannot be overridden by an order sender. The Exchange submits that this is appropriate because the current rules require SNAP AOOs to be placed in, or remain on, the SNAP AOO Queue during a trading halt, pause or suspension and, thus, such queued SNAP AOOs would already be inactive and removed from the SNAP CHX book, without the need for cancellations.\14\ As such, amended Rule 2(b)(1)(B) provides as follows: --------------------------------------------------------------------------- \14\ See CHX Article 18, Rule 1(c)(2) (which is effective, but not yet operative); see also supra note 10. ``Cancel On Halt'': a limit order modifier that requires an order to be automatically cancelled by the Matching System if a trading halt, pause or suspension is declared in that security by the Exchange. [[Page 67442]] All limit orders, except for SNAP AOOs, as defined under paragraph (h)(3), shall be deemed to have been received Cancel On Halt, which cannot be overridden by an order sender. Amended Article 18, Rule 1(c) (Halt or Pause During the SNAP Cycle) Current Article 18, Rule 1(c)(1) details the actions that would be taken if a trading halt is initiated on the Exchange during a SNAP Cycle.\15\ With respect to the handling of orders resting on the SNAP CHX book, current Rule 1(c)(1) substantively tracks current paragraphs .02 of Article 20, Rule 1 for trading halts, pauses and suspensions that are not LULD trading pauses and Article 20, Rule 2A(c) for LULD trading pauses.\16\ The Exchange now proposes to amend Rule 1(c)(1) to eliminate that distinction. As such, amended Rule 1(c)(1) provides as follows: --------------------------------------------------------------------------- \15\ See CHX Article 18, Rule 1(b) (which is effective, but not yet operative); see also supra note 10. \16\ See supra note 10. SNAP CHX book (A) During stages one or two. If the market snapshot taken pursuant to paragraph (b)(2)(E) or (F) indicates that a material halt, pause or suspension is in effect, the SNAP Cycle shall be aborted and not proceed to stage three or stage five, as applicable. The Exchange shall then cancel all orders resting on the SNAP CHX book, subject to paragraph (c)(2) below. (B) During stages three or four. If the market snapshot taken pursuant to paragraph (b)(3)(B) or (b)(4)(B) indicates that a material halt, pause or suspension is in effect for the subject security, the SNAP Cycle shall be aborted and not proceed to stage five. The Exchange shall then cancel the unexecuted remainders of all orders resting on the SNAP CHX book, subject to paragraph (c)(2) below. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act \17\ in that it would further enable the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Act and to comply, and to enforce compliance by its Participants and persons associated with its Participants, with the provisions of the Act, the rules and regulations thereunder, and the rules of the Exchange, in furtherance of the objectives of Section 6(b)(1),\18\ and it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transaction in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and, in general, by protecting investors and the public interest, in furtherance of the objectives of Section 6(b)(5).\19\ --------------------------------------------------------------------------- \17\ 15 U.S.C. 78f(b). \18\ 15 U.S.C. 78f(b)(1). \19\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- Specifically, the Exchange believes that the proposed unification of the Exchange's procedures regarding resting orders in a security subject to a trading halt, pause or suspension on the Exchange will simplify the Exchange's operational procedures, which will remove impediments to, and perfect the mechanisms of, a free and open market, in furtherance of the objectives of Section 6(b)(5). Moreover, the Exchange believes that the proposed unification and other clarifying amendments, will simplify CHX Rules, which will further enable the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Act and to comply, and to enforce compliance by its Participants and persons associated with its Participants, with the provisions of the Act, the rules and regulations thereunder, and the rules of the Exchange, in furtherance of the objectives of Section 6(b)(1). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, the Exchange believes that the proposed rule change does not implicate any competitive issues as it is intended to simplify and clarify CHX operational procedures with respect to trading halts, pauses and suspensions. 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \20\ and Rule 19b- 4(f)(6) thereunder.\21\ --------------------------------------------------------------------------- \20\ 15 U.S.C. 78s(b)(3)(A). \21\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), CHX 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 requested that the Commission waive the requirement that the rule change, by its terms, not become operative for 30 days after the date of the filing as set forth in Rule 19b- 4(f)(6)(iii),\22\ so that the proposal may become immediately operative upon filing. The Exchange anticipates its recently approved SNAP functionality will become operative during the thirty day pre-operative waiting period for this filing.\23\ The Commission believes that waiver of the operative delay is consistent with the protection of investors and the public interest because it eliminates a source of potential for confusion regarding the Exchange's rules governing SNAP-related trading halt, pause and suspension procedures. Therefore, the Commission hereby waives the thirty-day operative delay and designates the proposal effective upon filing.\24\ --------------------------------------------------------------------------- \22\ 17 CFR 240.19b-4(f)(6)(iii). \23\ See supra note 10. \24\ For purposes of waiving the 30-day operative delay, the Commission has 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 Comments Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File NumberSR-CHX-2015-05 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. [[Page 67443]] All submissions should refer to File Number SR-CHX-2015-05. 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 20549-1090. Copies of the filing will also be available for inspection and copying at the Exchange's principal office. 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-CHX-2015-05 and should be submitted on or before November 23, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\25\ Robert W. Errett, Deputy Secretary. --------------------------------------------------------------------------- \25\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2015-27792 Filed 10-30-15; 8:45 am] BILLING CODE 8011-01-P
![67440 Federal Register / Vol. 80, No. 211 / Monday, November 2, 2015 / Notices
minimize the burden of collections on includes a component for administrative Information Collection Request (ICR)
respondents, including the use of expenses as well as a component to
automated collection techniques or cover costs shared by all employers. The Title: Employer’s Quarterly Report of
other forms of information technology. regulations prescribing the manner and Contributions Under the RUIA.
Comments to the RRB or OIRA must conditions for remitting the OMB Control Number: 3220–0012.
contain the OMB control number of the contributions and for adjusting Form(s) submitted: DC–1.
ICR. For proper consideration of your overpayments or underpayments of
comments, it is best if the RRB and contributions are contained in 20 CFR Type of request: Reinstatement
OIRA receive them within 30 days of 345. without change of a previously
the publication date. RRB Form DC–1, Employer’s approved collection.
Under Section 8 of the Railroad Quarterly Report of Contributions under Affected public: Private Sector:
Unemployment Insurance Act (RUIA), the Railroad Unemployment Insurance Businesses or other for-profits.
as amended by the Railroad Act, is used by railroad employers to
Unemployment Improvement Act of Abstract: Railroad employers are
report and remit their quarterly
1988 (Pub. L. 100–647), the RRB contributions to the RRB. Employers can required to make contributions to the
determines the amount of an employer’s use either the manual version of the Railroad Unemployment Insurance fund
contribution, primarily on the basis of form or its Internet equivalent. One quarterly or annually equal to a
the RUIA benefits paid, both response is requested quarterly of each percentage of the creditable
unemployment and sickness, to the respondent and completion is compensation paid to each employee.
employees of the railroad employer. mandatory. The information furnished on the report
These experienced-based contributions Previous Requests for Comments: The accompanying the remittance is used to
take into account the frequency, RRB has already published the initial determine correctness of the amount
volume, and duration of the employees’ 60-day notice (80 FR 41099 on July 14, paid.
unemployment and sickness benefits. 2015) required by 44 U.S.C. 3506(c)(2). Changes proposed: The RRB proposes
Each employer’s contribution rate That request elicited no comments. no changes to Form DC–1.
THE BURDEN ESTIMATE FOR THE ICR IS AS FOLLOWS
Annual Time Burden
Form No. responses (minutes) (hours)
DC–1 (Paper Copy) ..................................................................................................................... 1,235 25 515
DC–1 (Internet) ............................................................................................................................ 1,365 25 569
Total ...................................................................................................................................... 2,600 ........................ 1,084
Additional Information or Comments: SECURITIES AND EXCHANGE I. Self-Regulatory Organization’s
Copies of the forms and supporting COMMISSION Statement of the Terms of Substance of
documents can be obtained from Dana the Proposed Rule Change
Hickman at (312) 751–4981 or [Release No. 34–76262; File No. SR–CHX–
2015–05] CHX proposes to amend CHX Rules to
Dana.Hickman@RRB.GOV. unify procedures for the handling of
Comments regarding the information Self-Regulatory Organizations; resting orders in a security subject to a
collection should be addressed to Chicago Stock Exchange, Inc.; Notice trading halt, pause or suspension on the
Charles Mierzwa, Railroad Retirement of Filing and Immediate Effectiveness Exchange. CHX has designated this
Board, 844 North Rush Street, Chicago, of Proposed Rule Change To Unify proposed rule change as non-
Illinois, 60611–2092 or Procedures for the Handling of Resting controversial pursuant to Section
Charles.Mierzwa@RRB.GOV and to the Orders in a Security Subject to a 19(b)(3)(A) 3 of the Act and Rule 19b–
OMB Desk Officer for the RRB, Fax: Trading Halt, Pause or Suspension on 4(f)(6) 4 thereunder and has provided
202–395–6974, Email address: OIRA_ the Exchange the Commission with the notice
Submission@omb.eop.gov. required by Rule 19b–4(f)(6)(iii).5 The
October 26, 2015. text of this proposed rule change is
Charles Mierzwa, Pursuant to Section 19(b)(1) of the available on the Exchange’s Web site at
Chief of Information Resources Management. Securities Exchange Act of 1934 (www.chx.com) and in the
[FR Doc. 2015–27826 Filed 10–30–15; 8:45 am]
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2 Commission’s Public Reference Room.
notice is hereby given that, on October
BILLING CODE 7905–01–P
19, 2015, the Chicago Stock Exchange, II. Self-Regulatory Organization’s
Inc. (‘‘CHX’’ or ‘‘Exchange’’) filed with Statement of the Purpose of, and
the Securities and Exchange Statutory Basis for, the Proposed Rule
Commission (‘‘Commission’’) the Change
proposed rule change as described in
asabaliauskas on DSK5VPTVN1PROD with NOTICES
In its filing with the Commission, the
Items I and II below, which Items have CHX included statements concerning
been prepared by the Exchange. The the purpose of and basis for the
Commission is publishing this notice to proposed rule changes and discussed
solicit comments on the proposed rule any comments it received on the
change from interested persons.
3 15 U.S.C. 78s(b)(3)(A).
1 15 U.S.C. 78s(b)(1). 4 17 CFR 240.19b–4(f)(6).
2 17 CFR 240.19b–4. 5 17 CFR 240.19b–4(f)(6)(iii).
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![Federal Register / Vol. 80, No. 211 / Monday, November 2, 2015 / Notices 67443
All submissions should refer to File 16, 2015, New York Stock Exchange pursuant to the Rule must contain the
Number SR–CHX–2015–05. This file LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed following information:
number should be included on the with the Securities and Exchange • Time and date of the transaction;
subject line if email is used. To help the Commission (the ‘‘Commission’’) the • stock symbol of the listed security;
Commission process and review your proposed rule change as described in • number of shares;
comments more efficiently, please use Items I, II, and III below, which Items • price;
only one method. The Commission will have been prepared by the self- • marketplace where the transaction
post all comments on the Commission’s regulatory organization. The was executed;
Internet Web site (http://www.sec.gov/ Commission is publishing this notice to • an indication whether the
rules/sro.shtml). Copies of the solicit comments on the proposed rule transaction was a buy (B), sell (S) or
submission, all subsequent change from interested persons. cross (C);
amendments, all written statements • an indication whether the
with respect to the proposed rule I. Self-Regulatory Organization’s
transaction was executed as principal or
change that are filed with the Statement of the Terms of Substance of
agent; and
the Proposed Rule Change
Commission, and all written • the name of the contra-side broker-
communications relating to the The Exchange proposes to delete Rule dealer to the trade.4
proposed rule change between the 410B governing reporting requirements Rule 410B was adopted in 1992. At
Commission and any person, other than for off-Exchange transactions. The text the time, transactions in NYSE-listed
those that may be withheld from the of the proposed rule change is available stocks effected outside of business hours
public in accordance with the on the Exchange’s Web site at or in foreign markets were not reported
provisions of 5 U.S.C. 552, will be www.nyse.com, at the principal office of to the Consolidated Tape and, with the
available for Web site viewing and the Exchange, and at the Commission’s exception of program trading
printing in the Commission’s Public Public Reference Room. information, were not reported to the
Reference Room, 100 F Street NE., Exchange. The Exchange (then the New
Washington, DC 20549–1090. Copies of II. Self-Regulatory Organization’s York Stock Exchange, Inc.) believed that
the filing will also be available for Statement of the Purpose of, and ‘‘all transactions in NYSE-listed stocks
inspection and copying at the Statutory Basis for, the Proposed Rule that are not reported to the Consolidated
Exchange’s principal office. All Change Tape should be reported to the
comments received will be posted In its filing with the Commission, the Exchange in order to provide an
without change; the Commission does self-regulatory organization included accurate record of overall trading
not edit personal identifying activity in NYSE-listed stocks.’’ 5 The
statements concerning the purpose of,
information from submissions. You Rule 410B reporting requirement would
and basis for, the proposed rule change
should submit only information that thus ‘‘augment and enhance’’ the
and discussed any comments it received
you wish to make available publicly. All Exchange’s ability to ‘‘surveil for and
on the proposed rule change. The text
submissions should refer to File investigate, among other matters, insider
of those statements may be examined at
Number SR–CHX–2015–05 and should trading, frontrunning and manipulative
the places specified in Item IV below.
be submitted on or before November 23, activities’’ and ‘‘provide a more
The Exchange has prepared summaries,
2015. complete audit trail and depiction of
set forth in sections A, B, and C below,
For the Commission, by the Division of of the most significant parts of such member trading in each NYSE-listed
Trading and Markets, pursuant to delegated statements. stock, which should facilitate
authority.25 surveillance by the Exchange in NYSE-
Robert W. Errett, A. Self-Regulatory Organization’s listed stocks.’’ 6
Deputy Secretary. Statement of the Purpose of, and the Despite the significant changes to the
[FR Doc. 2015–27792 Filed 10–30–15; 8:45 am] Statutory Basis for, the Proposed Rule marketplace and the regulatory
BILLING CODE 8011–01–P
Change landscape in the ensuing decades, Rule
1. Purpose 410B has not been substantively
amended since it was adopted.7
SECURITIES AND EXCHANGE The Exchange proposes to delete Rule
COMMISSION 410B, which sets forth certain regulatory Changes to Regulatory Landscape
reporting requirements for member or On July 30, 2007, the NASD, NYSE,
[Release No. 34–76277; File No. SR–NYSE–
2015–48]
member organizations effecting off- and NYSE Regulation, Inc. (‘‘NYSE
Exchange transactions in Exchange Regulation’’) consolidated their member
Self-Regulatory Organizations; New listed securities that are not reported to firm regulation operations to create the
York Stock Exchange LLC; Notice of the Consolidated Tape, and to make Financial Industry Regulatory
Filing of Proposed Rule Change conforming amendments to Rule 9217 to Authority, Inc. (‘‘FINRA’’), and entered
Deleting Rule 410B Governing delete a reference to Rule 410B. into a plan to allocate to FINRA
Reporting Requirements for Off- Background regulatory responsibility for common
Exchange Transactions rules and common members (‘‘17d–2
Rule 410B
October 27, 2015. 4 See Rule 410B.
Currently, Rule 410B requires
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Pursuant to Section 19(b)(1) 1 of the 5 See Securities Exchange Act Release No. 31358
Securities Exchange Act of 1934 (the members or member organizations to (October 26, 1992), 57 FR 1294 (January 6, 1992)
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 report to the Exchange transactions in (SR–NYSE–91–45) (‘‘Rule 410B Approval Order’’).
notice is hereby given that, on October NYSE-listed securities effected for the 6 See id., 57 FR at 1294.
account of a member or member 7 Rule 410B was amended in 2007 in connection
25 17 organization, or for the account of a with a filing updating the definition of program
CFR 200.30–3(a)(12). trading in Rule 80A.40(b) to make conforming
1 15 U.S.C. 78s(b)(1). customer of a member or member changes to the rule. See Securities Exchange Act
2 15 U.S.C. 78a. organization, that are not reported to the Release No. 55793 (May 22, 2007), 72 FR 29567
3 17 CFR 240.19b–4. Consolidated Tape. Reports prepared (May 29, 2007) (SR–NYSE–2007–34).
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Document Created: 2018-03-01 11:30:28
Document Modified: 2018-03-01 11:30:28
| 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 67440 |
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