80 FR 79126 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 243 (December 18, 2015)

Page Range		79126-79127
FR Document		2015-31786

Federal Register, Volume 80 Issue 243 (Friday, December 18, 2015)

[Federal Register Volume 80, Number 243 (Friday, December 18, 2015)]
[Notices]
[Pages 79126-79127]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-31786]

[[Page 79126]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76636; File No. SR-NYSEArca-2015-119]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending the NYSE
Arca Options Fee Schedule

December 14, 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 December 1, 2015, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

The Exchange proposes to amend the NYSE Arca Options Fee Schedule
(``Fee Schedule''). The Exchange proposes to implement the fee changes
effective December 1, 2015. The proposed rule change is available on
the Exchange's Web site at www.nyse.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change

1. Purpose
The Exchange proposes to amend the Fee Schedule, effective December
1, 2015, to eliminate the Floor Broker Order Capture Device Log-In Fee
(``Log-In Fee'').
Currently, the Exchange charges a monthly Log-In Fee of $150 per
assigned log-in ID per month to access the Exchange-sponsored Floor
Broker Order Capture System by means of a Floor Broker Order Capture
Device (``FBOCD'').\4\ The log-in permits OTP Holder access to the
System from any FBOCD, whether located in a Floor Broker's booth or a
general access device located on the Trading Floor. Floor Brokers are
required to use the FBOCDs to electronically record the receipt of an
order and any events in the life of the order, including execution or
cancellation.
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\4\ The Exchange notes that it is not proposing any changes to
the monthly charge of $175 for each FBOCD, which is capped at $4,200
in total per device. The FBOCD is used by Floor Brokerage operations
to comply with the requirements of Rule 6.67, Order Format and
System Entry Requirements, namely, the systemization of order
details and electronic tracking of all events in the life of an
order, up to and including cancellation or execution.
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The Log-In Fee was instituted to cover the cost per log-in charged
by data vendors for access to each FBOCD.\5\ The Exchange is in the
process of establishing alternative vendors for FBOCD use, which may
impact costs to the Exchange. As a result, the Exchange proposes to
eliminate the Log-In Fee at this time. Elimination of this fee would
not result in any changes to how the FBOCD functions.
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\5\ See Securities Exchange Act Release No. 63643 (January 5,
2011) 76 FR 2163 (January 12, 2011) (NYSEArca-2010-123).
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2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act,\6\ in general, and furthers the
objectives of sections 6(b)(4) and (5) of the Act,\7\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
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\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4) and (5).
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The Log-In Fee was designed to recover costs being charged to the
Exchange for use of FBOCD. The Exchange therefore believes it is
reasonable, equitable and not unfairly discriminatory to eliminate the
Log-In Fee charged to OTP Holders as the Exchange re-evaluates and
potentially restructures the cost of FBOCD use to the Exchange. The
Exchange believes the elimination of the Log-In Fee would result in the
fair and reasonable use of resources by OTP Holders, particularly Floor
Brokers.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.

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

In accordance with section 6(b)(8) of the Act,\8\ 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. Because the proposed change would result in the
fair and reasonable use of resources by OTP Holders, particularly Floor
Brokers, the Exchange believes the elimination of the Log-In Fee is
pro-competitive.
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\8\ 15 U.S.C. 78f(b)(8).
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The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues. In
such an environment, the Exchange must continually review, and consider
adjusting, its fees and credits to remain competitive with other
exchanges. For the reasons described above, the Exchange believes that
the proposed rule change reflects this competitive environment.

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

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

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

The foregoing rule change is effective upon filing pursuant to
section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \10\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(2).
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At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such

[[Page 79127]]

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) \11\ of the Act to
determine whether the proposed rule change should be approved or
disapproved.
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\11\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2015-119 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.

All submissions should refer to File Number SR-NYSEArca-2015-119. 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 on official business days between the hours
of 10:00 a.m. and 3:00 p.m. Copies of the filing will also 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-NYSEArca-2015-119 and should
be submitted on or before January 8, 2016.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-31786 Filed 12-17-15; 8:45 am]
BILLING CODE 8011-01-P

79126 Federal Register / Vol. 80, No. 243 / Friday, December 18, 2015 / Notices

SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s Exchange therefore believes it is
COMMISSION Statement of the Purpose of, and the reasonable, equitable and not unfairly
Statutory Basis for, the Proposed Rule discriminatory to eliminate the Log-In
[Release No. 34–76636; File No. SR– Change Fee charged to OTP Holders as the
NYSEArca–2015–119] Exchange re-evaluates and potentially
1. Purpose
restructures the cost of FBOCD use to
Self-Regulatory Organizations; NYSE The Exchange proposes to amend the the Exchange. The Exchange believes
Arca, Inc.; Notice of Filing and Fee Schedule, effective December 1, the elimination of the Log-In Fee would
Immediate Effectiveness of Proposed 2015, to eliminate the Floor Broker result in the fair and reasonable use of
Rule Change Amending the NYSE Arca Order Capture Device Log-In Fee (‘‘Log- resources by OTP Holders, particularly
In Fee’’). Floor Brokers.
Options Fee Schedule
Currently, the Exchange charges a For these reasons, the Exchange
December 14, 2015. monthly Log-In Fee of $150 per assigned believes that the proposal is consistent
log-in ID per month to access the with the Act.
Pursuant to section 19(b)(1) 1 of the Exchange-sponsored Floor Broker Order
Securities Exchange Act of 1934 (the B. Self-Regulatory Organization’s
Capture System by means of a Floor
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Statement on Burden on Competition
Broker Order Capture Device
notice is hereby given that, on December (‘‘FBOCD’’).4 The log-in permits OTP In accordance with section 6(b)(8) of
1, 2015, NYSE Arca, Inc. (the Holder access to the System from any the Act,8 the Exchange does not believe
‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with FBOCD, whether located in a Floor that the proposed rule change will
the Securities and Exchange Broker’s booth or a general access impose any burden on competition that
Commission (the ‘‘Commission’’) the device located on the Trading Floor. is not necessary or appropriate in
proposed rule change as described in Floor Brokers are required to use the furtherance of the purposes of the Act.
Items I, II, and III below, which Items FBOCDs to electronically record the Because the proposed change would
have been prepared by the self- receipt of an order and any events in the result in the fair and reasonable use of
regulatory organization. The life of the order, including execution or resources by OTP Holders, particularly
Commission is publishing this notice to cancellation. Floor Brokers, the Exchange believes the
solicit comments on the proposed rule The Log-In Fee was instituted to cover elimination of the Log-In Fee is pro-
change from interested persons. the cost per log-in charged by data competitive.
vendors for access to each FBOCD.5 The The Exchange notes that it operates in
I. Self-Regulatory Organization’s Exchange is in the process of a highly competitive market in which
Statement of the Terms of Substance of establishing alternative vendors for market participants can readily favor
the Proposed Rule Change FBOCD use, which may impact costs to competing venues. In such an
the Exchange. As a result, the Exchange environment, the Exchange must
The Exchange proposes to amend the continually review, and consider
proposes to eliminate the Log-In Fee at
NYSE Arca Options Fee Schedule (‘‘Fee this time. Elimination of this fee would adjusting, its fees and credits to remain
Schedule’’). The Exchange proposes to not result in any changes to how the competitive with other exchanges. For
implement the fee changes effective FBOCD functions. the reasons described above, the
December 1, 2015. The proposed rule Exchange believes that the proposed
change is available on the Exchange’s 2. Statutory Basis rule change reflects this competitive
Web site at www.nyse.com, at the The Exchange believes that the environment.
principal office of the Exchange, and at proposed rule change is consistent with
C. Self-Regulatory Organization’s
the Commission’s Public Reference section 6(b) of the Act,6 in general, and
Statement on Comments on the
Room. furthers the objectives of sections 6(b)(4)
Proposed Rule Change Received From
and (5) of the Act,7 in particular,
II. Self-Regulatory Organization’s Members, Participants, or Others
because it provides for the equitable
Statement of the Purpose of, and allocation of reasonable dues, fees, and No written comments were solicited
Statutory Basis for, the Proposed Rule other charges among its members, or received with respect to the proposed
Change issuers and other persons using its rule change.
In its filing with the Commission, the facilities and does not unfairly III. Date of Effectiveness of the
discriminate between customers, Proposed Rule Change and Timing for
self-regulatory organization included
issuers, brokers or dealers. Commission Action
statements concerning the purpose of,
The Log-In Fee was designed to
and basis for, the proposed rule change recover costs being charged to the The foregoing rule change is effective
and discussed any comments it received Exchange for use of FBOCD. The upon filing pursuant to section
on the proposed rule change. The text 19(b)(3)(A) 9 of the Act and
of those statements may be examined at 4 The Exchange notes that it is not proposing any subparagraph (f)(2) of Rule 19b–4 10
the places specified in Item IV below. changes to the monthly charge of $175 for each thereunder, because it establishes a due,
The Exchange has prepared summaries, FBOCD, which is capped at $4,200 in total per fee, or other charge imposed by the
device. The FBOCD is used by Floor Brokerage
set forth in sections A, B, and C below, operations to comply with the requirements of Rule
Exchange.
of the most significant parts of such 6.67, Order Format and System Entry Requirements, At any time within 60 days of the
mstockstill on DSK4VPTVN1PROD with NOTICES

statements. namely, the systemization of order details and filing of such proposed rule change, the
electronic tracking of all events in the life of an Commission summarily may
order, up to and including cancellation or
execution.
temporarily suspend such rule change if
5 See Securities Exchange Act Release No. 63643 it appears to the Commission that such
(January 5, 2011) 76 FR 2163 (January 12, 2011)
1 15 U.S.C. 78s(b)(1). (NYSEArca–2010–123). 8 15 U.S.C. 78f(b)(8).
2 15 U.S.C. 78a. 6 15 U.S.C. 78f(b). 9 15 U.S.C. 78s(b)(3)(A).
3 17 CFR 240.19b–4. 7 15 U.S.C. 78f(b)(4) and (5). 10 17 CFR 240.19b–4(f)(2).

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Federal Register / Vol. 80, No. 243 / Friday, December 18, 2015 / Notices 79127

action is necessary or appropriate in the submissions. You should submit only will help the Agency to improve where
public interest, for the protection of information that you wish to make necessary, the delivery of critical
investors, or otherwise in furtherance of available publicly. All submissions financial assistance to disaster victims.
the purposes of the Act. If the should refer to File Number SR– Title: Disaster Assistance Customer
Commission takes such action, the NYSEArca-2015–119 and should be Satisfaction Survey.
Commission shall institute proceedings submitted on or before January 8, 2016. Description of Respondents: Disaster
under section 19(b)(2)(B) 11 of the Act to For the Commission, by the Division of
Customers satisfaction with service
determine whether the proposed rule Trading and Markets, pursuant to delegated received.
change should be approved or authority.12 Form Number: SBA Form 2313FOC,
disapproved. 2313CSC.
Robert W. Errett, Estimated Annual Responses: 2,400.
IV. Solicitation of Comments Estimated Annual Hour Burden: 199.
Deputy Secretary.
Interested persons are invited to
[FR Doc. 2015–31786 Filed 12–17–15; 8:45 am] Curtis B. Rich,
submit written data, views, and
arguments concerning the foregoing, BILLING CODE 8011–01–P Management Analyst.
including whether the proposed rule [FR Doc. 2015–31838 Filed 12–17–15; 8:45 am]
change is consistent with the Act. BILLING CODE 8025–01–P
Comments may be submitted by any of SMALL BUSINESS ADMINISTRATION
the following methods:
Reporting and Recordkeeping DEPARTMENT OF STATE
Electronic Comments Requirements Under OMB Review
• Use the Commission’s Internet [Public Notice: 9389]
AGENCY: Small Business Administration.
comment form (http://www.sec.gov/ Advisory Committee on Historical
ACTION: 30-Day notice.
rules/sro.shtml); or
Diplomatic Documentation—Notice of
• Send an email to rule-comments@ SUMMARY: The Small Business Closed and Open Meetings for 2016
sec.gov. Please include File Number SR– Administration (SBA) is publishing this
NYSEArca–2015–119 on the subject notice to comply with requirements of SUMMARY: The Advisory Committee on
line. the Paperwork Reduction Act (PRA) (44 Historical Diplomatic Documentation
Paper Comments U.S.C. Chapter 35), which requires will meet on March 7, June 6, August
agencies to submit proposed reporting 29, and December 12, 2016, in open
• Send paper comments in triplicate session to discuss unclassified matters
and recordkeeping requirements to
to Brent J. Fields, Secretary, Securities concerning declassification and transfer
OMB for review and approval, and to
and Exchange Commission, 100 F Street of Department of State records to the
publish a notice in the Federal Register
NE., Washington, DC 20549. National Archives and Records
notifying the public that the agency has
All submissions should refer to File made such a submission. This notice Administration and the status of the
Number SR–NYSEArca–2015–119. This also allows an additional 30 days for Foreign Relations series.
file number should be included on the public comments. The Committee will meet in open
subject line if email is used. To help the session from 11:00 a.m. until noon in
DATES: Submit comments on or before
Commission process and review your SA–4D Conference Room, Department
comments more efficiently, please use January 19, 2016.
of State, 2300 E Street NW., Washington
only one method. The Commission will ADDRESSES: Comments should refer to
DC 20372 (Potomac Navy Hill Annex).
post all comments on the Commission’s the information collection by name and/ RSVP should be sent as directed below:
Internet Web site (http://www.sec.gov/ or OMB Control Number and should be • March 7, not later than February 29,
rules/sro.shtml). Copies of the sent to: Agency Clearance Officer, Curtis 2016. Requests for reasonable
submission, all subsequent Rich, Small Business Administration, accommodation should be made by
amendments, all written statements 409 3rd Street SW., 5th Floor, February 22, 2016.
with respect to the proposed rule Washington, DC 20416; and SBA Desk • June 6, not later than May 30, 2016.
change that are filed with the Officer, Office of Information and Requests for reasonable accommodation
Commission, and all written Regulatory Affairs, Office of should be made by May 23, 2016.
communications relating to the Management and Budget, New • August 29, not later than August 22,
proposed rule change between the Executive Office Building, Washington, 2016. Requests for reasonable
Commission and any person, other than DC 20503. accommodation should be made by
those that may be withheld from the FOR FURTHER INFORMATION CONTACT: August 15, 2016.
public in accordance with the Curtis Rich, Agency Clearance Officer, • December 12, not later than
provisions of 5 U.S.C. 552, will be (202) 205–7030 curtis.rich@sba.gov. December 5, 2016. Requests for
available for Web site viewing and Copies: A copy of the Form OMB 83– reasonable accommodation should be
printing in the Commission’s Public 1, supporting statement, and other made by November 28, 2016.
Reference Section, 100 F Street NE., documents submitted to OMB for Closed Sessions. The Committee’s
Washington, DC 20549 on official review may be obtained from the sessions in the afternoon of Monday,
business days between the hours of Agency Clearance Officer. March 7, 2016; in the morning of
10:00 a.m. and 3:00 p.m. Copies of the SUPPLEMENTARY INFORMATION: A team of Tuesday, March 8; in the afternoon of
mstockstill on DSK4VPTVN1PROD with NOTICES

filing will also be available for Quality Assurance staff at the Disaster Monday, June 6, 2016; in the morning
inspection and copying at the principal Assistance Center (DASC) will conduct of Tuesday, June 7, 2016; in the
office of the Exchange. All comments a brief telephone survey of customers to afternoon of Monday, August 29, 2016;
received will be posted without change; determine their satisfaction with the in the morning of Tuesday, August 30,
the Commission does not edit personal services received from the (DASC) and 2016; in the afternoon of Monday,
identifying information from the Field Operations Centers. The result December 12, 2016; and in the morning
of Tuesday, December 13, 2016, will be
11 15 U.S.C. 78s(b)(2)(B). 12 17 CFR 200.30–3(a)(12). closed in accordance with Section 10(d)

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Document Created: 2015-12-18 01:38:51
Document Modified: 2015-12-18 01:38:51

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 79126