80 FR 69765 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Requiring Certain Member Organizations To Participate in Business Continuity and Disaster Recovery Plans Testing in Connection With Regulation Systems Compliance and Integrity
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 217 (November 10, 2015)
Federal Register Volume 80, Issue 217 (November 10, 2015)
| Page Range | 69765-69767 | |
| FR Document | 2015-28510 |
[Federal Register Volume 80, Number 217 (Tuesday, November 10, 2015)] [Notices] [Pages 69765-69767] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-28510] [[Page 69765]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76346; File No. SR-NYSE-2015-50] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Requiring Certain Member Organizations To Participate in Business Continuity and Disaster Recovery Plans Testing in Connection With Regulation Systems Compliance and Integrity November 4, 2015. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on October 26, 2015, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') 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 self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to require certain member organizations \4\ (``Members'') to participate in business continuity and disaster recovery plans (``BC/DR Plans'') testing in connection with Regulation Systems Compliance and Integrity (``Regulation SCI'').\5\ The text of the proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. --------------------------------------------------------------------------- \4\ The term ``member organization'' means a ``registered broker or dealer (unless exempt pursuant to the Securities Exchange Act of 1934) (the ``Act'') that is a member of the Financial Industry Regulatory Authority, Inc. (``FINRA'') or another registered securities exchange. Member organizations that transact business with public customers or conduct business on the Floor of the Exchange shall at all times be members of FINRA. A registered broker or dealer must also be approved by the Exchange and authorized to designate an associated natural person to effect transactions on the floor of the Exchange or any facility thereof. This term shall include a natural person so registered, approved and licensed who directly effects transactions on the floor of the Exchange or any facility thereof. See Rule 2(b)(i). The term ``member organization'' also includes any registered broker or dealer that is a member of FINRA or a registered securities exchange, consistent with the requirements of section 2(b)(i) of this Rule, which does not own a trading license and agrees to be regulated by the Exchange as a member organization and which the Exchange has agreed to regulate. See Rule 2(b)(ii). \5\ See Securities Exchange Act Release No. 73639 (November 19, 2014), 79 FR 72252 (December 5, 2014) (``SCI Adopting Release''). --------------------------------------------------------------------------- II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose As adopted by the Commission, Regulation SCI applies to certain self-regulatory organizations (including the Exchange), alternative trading systems (``ATSs''), plan processors, and exempt clearing agencies (collectively, ``SCI entities''), and will require these SCI entities to comply with requirements with respect to the automated systems central to the performance of their regulated activities. Among the requirements of Regulation SCI is Rule 1001(a)(2)(v), which requires the Exchange and other SCI entities to maintain ``[b]usiness continuity and disaster recovery plans that include maintaining backup and recovery capabilities sufficiently resilient and geographically diverse and that are reasonably designed to achieve next business day resumption of trading and two-hour resumption of critical SCI systems following a wide-scale disruption.'' \6\ As a matter of course, the Exchange has put extensive time and resources toward planning for system failures and already maintains robust BC/DR plans consistent with the proposed rule. As set forth below, in connection with Regulation SCI, the Exchange is proposing to require certain Members to participate in testing of the operation of the Exchange's BC/DR plans. --------------------------------------------------------------------------- \6\ 17 CFR 242.1001(a)(2)(v). --------------------------------------------------------------------------- With respect to an SCI entity's BC/DR plans, including its backup systems, paragraph (a) of Rule 1004 of Regulation SCI requires each SCI entity to: ``[e]stablish standards for the designation of those members or participants that the SCI entity reasonably determines are, taken as a whole, the minimum necessary for the maintenance of fair and orderly markets in the event of the activation of such plans.'' \7\ Paragraph (b) of Rule 1004 further requires each SCI entity to ``[d]esignate members or participants pursuant to the standards established in paragraph (a) of [Rule 1004] and require participation by such designated members or participants in scheduled functional and performance testing of the operation of such plans, in the manner and frequency specified by the SCI entity, provided that such frequency shall not be less than once every 12 months.'' \8\ --------------------------------------------------------------------------- \7\ 17 CFR 242.1004(a). \8\ 17 CFR 242.1004(b). --------------------------------------------------------------------------- To comply with Rule 1004 of Regulation SCI, the Exchange proposes to amend current Rule 438,\9\ governing mandatory testing of Exchange backup systems as described below. The requirements of revised Rule 438 would apply to Members of the Exchange's equities market and to Users \10\ of NYSE Bonds.\11\ --------------------------------------------------------------------------- \9\ Current Rule 438 generally requires each member and member organization to participate in industry testing of electronic systems designed to prepare for the implementation of decimal trading. The Exchange proposes to delete the text of the current rule as it is obsolete and no longer applicable. \10\ A User means any Member or Member Organization, Sponsored Participant, or Authorized Trader that is authorized to access NYSE Bonds. See Rule 86(a)(2)(M). \11\ NYSE Bonds is the Exchange's electronic system for receiving, processing, executing and reporting bids, offers and executions in bonds. See Rule 86(b)(2)(A). --------------------------------------------------------------------------- First, in paragraph (a) of revised Rule 438, the Exchange proposes to establish standards for the designation of Members that the Exchange reasonably determines are, taken as a whole, the minimum necessary for the maintenance of fair and orderly markets in the event of the activation of the Exchange's business continuity and disaster recovery plans. Second, in paragraph (b) of revised Rule 438, the Exchange proposes to specify that Members that are designated pursuant to paragraph (a) of revised Rule 438 would be required to participate in scheduled functional and performance testing of the Exchange's business continuity and disaster recovery plans, which shall not be less than once every 12 months. Third, in paragraph (c) of revised Rule 438, the Exchange proposes to make [[Page 69766]] clear that Designated Market Makers \12\ and Supplemental Liquidity Providers \13\ that have been determined by the Exchange to contribute a meaningful percentage of the Exchange's overall volume, measured on a quarterly or monthly basis, will be required to participate in scheduled functional and performance testing. The Exchange further proposes that it may also consider other factors in determining the Members that will be required to participate in scheduled functional and performance testing, including average daily volume traded on the Exchange measured on a quarterly or monthly basis, or Members who collectively account for a certain percentage of market share on the Exchange. --------------------------------------------------------------------------- \12\ The term ``Designated Market Maker'' (``DMM'') means an individual member, officer, partner, employee or associated person of a Designated Market Maker Unit who is approved by the Exchange to act in the capacity of a DMM. See Rule 2(i). \13\ The term ``Supplemental Liquidity Provider'' means a member organization that electronically enters proprietary orders or quotes from off the Floor of the Exchange into the systems and facilities of the Exchange and is obligated to maintain two-sided quotes in each assigned security for some part of a trading day. See Rule 107B. --------------------------------------------------------------------------- Fourth, in paragraph (d) of revised Rule 438, the Exchange proposes that at least three (3) months prior to a scheduled functional and performance testing of the Exchange's business continuity and disaster recovery plans, the Exchange will publish the criteria to be used by the Exchange to determine which Members will be required to participate in such testing and notify those Members that are required to participate based on such criteria.\14\ The Exchange believes that the proposed notice requirements are necessary to provide Members with proper advance notice in the event they become subject to the proposed rule. The proposed timeframes would also provide Members with adequate time to prepare for the testing, including any systems changes needed, to connect to the Exchange's backup systems. --------------------------------------------------------------------------- \14\ The Exchange will publish the initial notice to Members no later than November 3, 2015. --------------------------------------------------------------------------- Finally, in paragraph (e) of revised Rule 438, the Exchange proposes to make clear that Members not designated pursuant to standards established in paragraph (a) of revised Rule 438 are permitted to connect to the Exchange's backup systems and may participate in testing of such systems. Proposed paragraph (e) is consistent with Regulation SCI, which encourages ``SCI entities to permit non-designated members or participants to participate in the testing of the SCE entity's BC/DR plans if they request to do so.'' \15\ --------------------------------------------------------------------------- \15\ See SCI Adopting Release, supra note 5 at 72350. --------------------------------------------------------------------------- The Exchange notes that it encourages all Members to connect to the Exchange's backup systems and to participate in testing of such systems. However, in adopting the requirements in revised Rule 438, the rule will subject only those Members to mandatory testing that the Exchange believes are, taken as a whole, the minimum necessary to maintain fair and orderly markets. The Exchange believes that designating Members to participate in mandatory testing because they, for example, account for a significant portion of the Exchange's overall volume or maintain exclusive responsibilities with respect to Exchange-listed securities is a reasonable means to ensure the maintenance of a fair and orderly market on the Exchange. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\16\ in general, and furthers the objectives of Sections 6(b)(5) of the Act,\17\ in particular, because 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78f(b). \17\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposal will ensure that the Members necessary to ensure the maintenance of a fair and orderly market are properly designated consistent with Rule 1004 of Regulation SCI. Specifically, as proposed, the Exchange will adopt clear and objective criteria with respect to the designation of Members that are required to participate in the testing of the Exchange's BC/DR plans, as well as appropriate notification regarding such designation. As set forth in the SCI Adopting Release, ``SROs have the authority, and legal responsibility, under Section 6 of the Exchange Act, to adopt and enforce rules (including rules to comply with Regulation SCI's requirements relating to BC/DR testing) applicable to their members or participants that are designed to, among other things, 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.'' \18\ The Exchange believes that this proposal is consistent with such authority and legal responsibility. --------------------------------------------------------------------------- \18\ See SCI Adopting Release, supra note 5 at 72350. --------------------------------------------------------------------------- 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 not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, the proposal is not a competitive proposal but rather is necessary for the Exchange's compliance with Regulation SCI. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \19\ and Rule 19b-4(f)(6) thereunder.\20\ 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 prior to 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 and Rule 19b- 4(f)(6)(iii) thereunder. A proposed rule change filed under Rule 19b- 4(f)(6) \21\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),\22\ the Commission may [[Page 69767]] designate a shorter time if such action is consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \19\ 15 U.S.C. 78s(b)(3)(A)(iii). \20\ 17 CFR 240.19b-4(f)(6). \21\ 17 CFR 240.19b-4(f)(6). \22\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- 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 Exchange to incorporate changes required under Regulation SCI, such as establishing standards for designating BCP/DR participants, prior to the November 3, 2015 compliance date. Accordingly, the Commission designates the proposed rule change to be operative upon filing.\23\ --------------------------------------------------------------------------- \23\ 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 such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) \24\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \24\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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-NYSE-2015-50 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-NYSE-2015-50. 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 Section, 100 F Street NE., Washington, DC 20549-1090. Copies of the filing will also be available for inspection and copying at the NYSE's principal office and on its Internet Web site at www.nyse.com. 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-NYSE-2015-50 and should be submitted on or before December 1, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\25\ --------------------------------------------------------------------------- \25\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2015-28510 Filed 11-9-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 217 / Tuesday, November 10, 2015 / Notices 69765
SECURITIES AND EXCHANGE text of the proposed rule change is ‘‘[e]stablish standards for the
COMMISSION available on the Exchange’s Web site at designation of those members or
www.nyse.com, at the principal office of participants that the SCI entity
[Release No. 34–76346; File No. SR–NYSE–
the Exchange, and at the Commission’s reasonably determines are, taken as a
2015–50]
Public Reference Room. whole, the minimum necessary for the
Self-Regulatory Organizations; New II. Self-Regulatory Organization’s maintenance of fair and orderly markets
York Stock Exchange LLC; Notice of Statement of the Purpose of, and in the event of the activation of such
Filing and Immediate Effectiveness of Statutory Basis for, the Proposed Rule plans.’’ 7 Paragraph (b) of Rule 1004
Proposed Rule Change Requiring Change further requires each SCI entity to
Certain Member Organizations To ‘‘[d]esignate members or participants
Participate in Business Continuity and In its filing with the Commission, the pursuant to the standards established in
Disaster Recovery Plans Testing in self-regulatory organization included paragraph (a) of [Rule 1004] and require
Connection With Regulation Systems statements concerning the purpose of, participation by such designated
Compliance and Integrity and basis for, the proposed rule change members or participants in scheduled
and discussed any comments it received functional and performance testing of
November 4, 2015. on the proposed rule change. The text the operation of such plans, in the
Pursuant to Section 19(b)(1) 1 of the of those statements may be examined at manner and frequency specified by the
Securities Exchange Act of 1934 (the the places specified in Item IV below. SCI entity, provided that such frequency
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 The Exchange has prepared summaries, shall not be less than once every 12
notice is hereby given that on October set forth in sections A, B, and C below, months.’’ 8
26, 2015, New York Stock Exchange of the most significant parts of such
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed statements. To comply with Rule 1004 of
with the Securities and Exchange Regulation SCI, the Exchange proposes
A. Self-Regulatory Organization's to amend current Rule 438,9 governing
Commission (the ‘‘Commission’’) the Statement of the Purpose of, and the
proposed rule change as described in mandatory testing of Exchange backup
Statutory Basis for, the Proposed Rule systems as described below. The
Items I and II below, which Items have Change
been prepared by the self-regulatory requirements of revised Rule 438 would
organization. The Commission is 1. Purpose apply to Members of the Exchange’s
publishing this notice to solicit equities market and to Users 10 of NYSE
As adopted by the Commission,
comments on the proposed rule change Bonds.11
Regulation SCI applies to certain self-
from interested persons. regulatory organizations (including the First, in paragraph (a) of revised Rule
I. Self-Regulatory Organization’s Exchange), alternative trading systems 438, the Exchange proposes to establish
Statement of the Terms of Substance of (‘‘ATSs’’), plan processors, and exempt standards for the designation of
the Proposed Rule Change clearing agencies (collectively, ‘‘SCI Members that the Exchange reasonably
entities’’), and will require these SCI determines are, taken as a whole, the
The Exchange proposes to require entities to comply with requirements minimum necessary for the
certain member organizations 4 with respect to the automated systems maintenance of fair and orderly markets
(‘‘Members’’) to participate in business central to the performance of their in the event of the activation of the
continuity and disaster recovery plans regulated activities. Among the Exchange’s business continuity and
(‘‘BC/DR Plans’’) testing in connection requirements of Regulation SCI is Rule disaster recovery plans.
with Regulation Systems Compliance 1001(a)(2)(v), which requires the
and Integrity (‘‘Regulation SCI’’).5 The Second, in paragraph (b) of revised
Exchange and other SCI entities to Rule 438, the Exchange proposes to
1 15
maintain ‘‘[b]usiness continuity and specify that Members that are
U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
disaster recovery plans that include designated pursuant to paragraph (a) of
3 17 CFR 240.19b–4. maintaining backup and recovery revised Rule 438 would be required to
4 The term ‘‘member organization’’ means a capabilities sufficiently resilient and participate in scheduled functional and
‘‘registered broker or dealer (unless exempt geographically diverse and that are performance testing of the Exchange’s
pursuant to the Securities Exchange Act of 1934) reasonably designed to achieve next
(the ‘‘Act’’) that is a member of the Financial business continuity and disaster
Industry Regulatory Authority, Inc. (‘‘FINRA’’) or
business day resumption of trading and recovery plans, which shall not be less
another registered securities exchange. Member two-hour resumption of critical SCI than once every 12 months.
organizations that transact business with public systems following a wide-scale
customers or conduct business on the Floor of the disruption.’’ 6 As a matter of course, the Third, in paragraph (c) of revised Rule
Exchange shall at all times be members of FINRA.
Exchange has put extensive time and 438, the Exchange proposes to make
A registered broker or dealer must also be approved
by the Exchange and authorized to designate an resources toward planning for system
7 17 CFR 242.1004(a).
associated natural person to effect transactions on failures and already maintains robust 8 17
the floor of the Exchange or any facility thereof. CFR 242.1004(b).
BC/DR plans consistent with the 9 Current Rule 438 generally requires each
This term shall include a natural person so
registered, approved and licensed who directly
proposed rule. As set forth below, in member and member organization to participate in
effects transactions on the floor of the Exchange or connection with Regulation SCI, the industry testing of electronic systems designed to
any facility thereof. See Rule 2(b)(i). The term Exchange is proposing to require certain prepare for the implementation of decimal trading.
‘‘member organization’’ also includes any registered The Exchange proposes to delete the text of the
asabaliauskas on DSK5VPTVN1PROD with NOTICES
Members to participate in testing of the
broker or dealer that is a member of FINRA or a current rule as it is obsolete and no longer
registered securities exchange, consistent with the
operation of the Exchange’s BC/DR applicable.
requirements of section 2(b)(i) of this Rule, which plans. 10 A User means any Member or Member
does not own a trading license and agrees to be With respect to an SCI entity’s BC/DR Organization, Sponsored Participant, or Authorized
regulated by the Exchange as a member plans, including its backup systems, Trader that is authorized to access NYSE Bonds.
organization and which the Exchange has agreed to See Rule 86(a)(2)(M).
regulate. See Rule 2(b)(ii).
paragraph (a) of Rule 1004 of Regulation 11 NYSE Bonds is the Exchange’s electronic
5 See Securities Exchange Act Release No. 73639 SCI requires each SCI entity to: system for receiving, processing, executing and
(November 19, 2014), 79 FR 72252 (December 5, reporting bids, offers and executions in bonds. See
2014) (‘‘SCI Adopting Release’’). 6 17 CFR 242.1001(a)(2)(v). Rule 86(b)(2)(A).
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![Federal Register / Vol. 80, No. 217 / Tuesday, November 10, 2015 / Notices 69767
designate a shorter time if such action comments more efficiently, please use prepared by the Exchange. The
is consistent with the protection of only one method. The Commission will Exchange filed the proposal as a ‘‘non-
investors and the public interest. post all comments on the Commission’s controversial’’ proposed rule change
The Exchange has asked the Internet Web site (http://www.sec.gov/ pursuant to Section 19(b)(3)(A)(iii) of
Commission to waive the 30-day rules/sro.shtml). Copies of the the Act 3 and Rule 19b–4(f)(6)
operative delay so that the proposal may submission, all subsequent thereunder.4 The Commission is
become operative immediately upon amendments, all written statements publishing this notice to solicit
filing. The Commission believes that with respect to the proposed rule comments on the proposed rule change
waiving the 30-day operative delay is change that are filed with the from interested persons.
consistent with the protection of Commission, and all written
investors and the public interest as it communications relating to the I. Self-Regulatory Organization’s
will allow the Exchange to incorporate proposed rule change between the Statement of the Terms of the Substance
changes required under Regulation SCI, Commission and any person, other than of the Proposed Rule Change
such as establishing standards for those that may be withheld from the
designating BCP/DR participants, prior CBOE proposes to replace the
public in accordance with the
to the November 3, 2015 compliance provisions of 5 U.S.C. 552, will be reference to ‘‘Google, Inc.’’ with
date. Accordingly, the Commission available for Web site viewing and ‘‘Alphabet, Inc.’’ in Interpretation and
designates the proposed rule change to printing in the Commission’s Public Policy .22 to Rule 5.5.
be operative upon filing.23 Reference Section, 100 F Street NE., The text of the proposed rule change
At any time within 60 days of the Washington, DC 20549–1090. Copies of is available on the Exchange’s Web site
filing of such proposed rule change, the the filing will also be available for (http://www.cboe.com/AboutCBOE/
Commission summarily may inspection and copying at the NYSE’s CBOELegalRegulatoryHome.aspx), at
temporarily suspend such rule change if principal office and on its Internet Web the Exchange’s Office of the Secretary,
it appears to the Commission that such site at www.nyse.com. All comments and at the Commission.
action is necessary or appropriate in the received will be posted without change;
public interest, for the protection of the Commission does not edit personal II. Self-Regulatory Organization’s
investors, or otherwise in furtherance of identifying information from Statement of the Purpose of, and
the purposes of the Act. If the submissions. You should submit only Statutory Basis for, the Proposed Rule
Commission takes such action, the information that you wish to make Change
Commission shall institute proceedings available publicly. All submissions In its filing with the Commission, the
under Section 19(b)(2)(B) 24 of the Act to should refer to File Number SR–NYSE– Exchange included statements
determine whether the proposed rule 2015–50 and should be submitted on or
concerning the purpose of and basis for
change should be approved or before December 1, 2015.
the proposed rule change and discussed
disapproved. For the Commission, by the Division of any comments it received on the
IV. Solicitation of Comments Trading and Markets, pursuant to delegated proposed rule change. The text of these
authority.25
Interested persons are invited to statements may be examined at the
Brent J. Fields, places specified in Item IV below. The
submit written data, views, and Secretary.
arguments concerning the foregoing, Exchange has prepared summaries, set
[FR Doc. 2015–28510 Filed 11–9–15; 8:45 am] forth in sections A, B, and C below, of
including whether the proposed rule
change is consistent with the Act. BILLING CODE 8011–01–P the most significant aspects of such
Comments may be submitted by any of statements.
the following methods: SECURITIES AND EXCHANGE A. Self-Regulatory Organization's
Electronic Comments COMMISSION Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
• Use the Commission’s Internet [Release No. 34–76341; File No. SR–CBOE–
2015–098] Change
comment form (http://www.sec.gov/
rules/sro.shtml); or 1. Purpose
• Send an email to rule- Self-Regulatory Organizations;
comments@sec.gov. Please include File Chicago Board Options Exchange, The purpose of this filing is to update
Number SR–NYSE–2015–50 on the Incorporated; Notice of Filing and Interpretation and Policy .22 to Rule 5.5
subject line. Immediate Effectiveness of a Proposed in order to reflect the new name for a
Rule Change Relating to Mini Options class that is eligible for Mini-option
Paper Comments
November 4, 2015. contracts. Specifically, Rule 5.5.22
• Send paper comments in triplicate permits the Exchange to list Mini-option
Pursuant to Section 19(b)(1) of the
to Brent J. Fields, Secretary, Securities contracts on five option classes,
Securities Exchange Act of 1934 (the
and Exchange Commission, 100 F Street including Google, Inc. (‘‘Google’’).
‘‘Act’’),1 and Rule 19b–4 thereunder,2
NE., Washington, DC 20549–1090. Google recently reorganized and created
notice is hereby given that on October
All submissions should refer to File 22, 2015, Chicago Board Options a new public holding company called
Number SR–NYSE–2015–50. This file Exchange, Incorporated (the ‘‘Exchange’’ Alphabet, Inc. (‘‘Alphabet’’). The
number should be included on the symbol ‘‘GOOGL’’ remains unchanged.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
or ‘‘CBOE’’) filed with the Securities
subject line if email is used. To help the and Exchange Commission (the As a result, the Exchange proposes to
Commission process and review your ‘‘Commission’’) the proposed rule amend Rule 5.5.22 by replacing the
change as described in Items I, II, and name ‘‘Google, Inc.’’ with ‘‘Alphabet,
23 For purposes only of waiving the 30-day
III below, which Items have been Inc.’’ No other changes are being
operative delay, the Commission has also proposed by this filing.
considered the proposed rule’s impact on
25 17 CFR 200.30–3(a)(12).
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f). 1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78s(b)(3)(A)(iii).
24 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4. 4 17 CFR 240.19b–4(f)(6).
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Document Created: 2018-03-01 11:25:07
Document Modified: 2018-03-01 11:25:07
| 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 69765 |
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