80 FR 79984 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Technical Disconnect Mechanism
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 246 (December 23, 2015)
Federal Register Volume 80, Issue 246 (December 23, 2015)
| Page Range | 79984-79986 | |
| FR Document | 2015-32186 |
[Federal Register Volume 80, Number 246 (Wednesday, December 23, 2015)] [Notices] [Pages 79984-79986] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-32186] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76672; File No. SR-CBOE-2015-113] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Technical Disconnect Mechanism December 17, 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 December 8, 2015, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I, II and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Rule 6.23C related to the Exchange's Technical Disconnect Mechanism. The text of the proposed rule change is provided below. (additions are italicized; deletions are [bracketed]) * * * * * Chicago Board Options Exchange, Incorporated Rules * * * * * Rule 6.23C Technical Disconnect (a) When a CBOE Application Server (``CAS'') loses communication with a Client Application such that a CAS does not receive an appropriate response to a Heartbeat Request within ``x'' period of time, the Technical Disconnect Mechanism will automatically logoff the Trading Permit Holder's affected Client Application and automatically cancel all the Trading Permit Holder's Market-Maker quotes, if applicable, and open orders with a time-in-force of ``day'' resting in the Book (which excludes orders resting on a PAR workstation or order management terminal) (``day orders''), if the Trading Permit Holder enables that optional service, posted through the affected Client Application. The following describes how the Technical Disconnect Mechanism works for each of the Exchange's application programming interfaces (``APIs''): (i)-(ii) No change. (b)-(c) No change. . . . Interpretations and Policies: .01 No change. * * * * * The text of the proposed rule change is also available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Rule 6.23C(a) provides that when a CBOE Application Server (``CAS'') \3\ loses communication with a Client Application \4\ such that a CAS does not receive an appropriate response to a Heartbeat Request \5\ within ``x'' period of time, the Technical Disconnect Mechanism will automatically logoff the Trading Permit Holder's (``TPH'') affected Client Application. If that occurs, the current rule provides that the Technical Disconnect Mechanism, if applicable, will automatically cancel all the TPH's Market-Maker quotes posted through the affected Client [[Page 79985]] Application.\6\ The Technical Disconnect Mechanism is intended to help mitigate the potential risks associated with a loss of communication with a Client Application, such as erroneous or unintended executions for stale quotes that are resting in the CBOE book. This mechanism serves to assist a TPH when a technical or system issue occurs, as well as assist the Exchange in maintaining a fair and orderly market. --------------------------------------------------------------------------- \3\ CBOE currently has numerous CASs serving TPHs. \4\ For relevant purposes, a ``Client Application'' is the system component, such as a CBOE-supported workstation or a TPH's custom trading application, through which a TPH communicates its quotes and/or orders to a CAS. Messages are passed between a Client Application and a CAS. A Market-Maker may send quotes to the Exchange from one or more Client Applications, and a TPH may send orders to the Exchange from one or more Client Applications. \5\ A ``Heartbeat Request'' refers to a message from a CAS to a Client Application to check connectivity and which requires a response from the Client Application in order to avoid logoff. The Heartbeat Request acts as a virtual pulse between a CAS and a Client Application and allows a CAS to continually monitor its connection with a Client Application. Failure to receive a response to a Heartbeat Request within the Heartbeat Response Time is indicative of a technical or system issue. \6\ See Rule 6.23C and Securities Exchange Act Release No. 34- 70039 (July 25, 2013), 78 FR 46395 (July 31, 2013) (SR-CBOE-2013- 071) for further information regarding the Technical Disconnect Mechanism. --------------------------------------------------------------------------- Recently, the Exchange amended Rule 6.23C related to the Technical Disconnect Mechanism to provide TPHs with an optional service that, if enabled by a TPH, will cause the Technical Disconnect Mechanism to also automatically cancel all the TPH's open orders with a time-in-force of ``day'' (``day orders'') posted through the affected Client Application if the CAS loses communication with the Client Application.\7\ This optional service is an additional preventative risk control measure that CBOE is making available to TPHs. It is intended to help further mitigate the potential risks associated with a loss of communication with a TPH's Client Application. If a TPH's Client Application is disconnected for any period of time, it is possible that market conditions upon which it based its day orders may change during that time and make those orders stale. Consequently, any resulting executions of those orders may be erroneous or unintended. --------------------------------------------------------------------------- \7\ See Securities Exchange Act Release No. 34-76489 (November 20, 2015), 80 FR 74149 (November 27, 2015) (SR-CBOE-2015-103). The Exchange has not yet implemented this optional service and will announce the implementation date of the service, including the proposed rule change, by Regulatory Circular. --------------------------------------------------------------------------- The proposed rule change provides that this optional service will automatically cancel open orders with a time-in-force of day that are resting on the book, but not resting on a PAR workstation or order management terminal (``OMT'').\8\ A TPH's day orders resting in the book may automatically execute against incoming quotes or orders and are thus subject to the risk of potential erroneous or unintended executions if the CAS loses communication with the TPH's Client Application, which risk the optional service is intended to mitigate. However, the TPH's day orders resting on a PAR workstation or OMT are subject to manual handling by a broker, agent or PAR official, as applicable, and are not subject to automatic execution against incoming quotes or orders. This manual handling mitigates the risk of potential erroneous or unintended executions of those orders, even during a time when the TPH is disconnected from the CAS, as an individual can determine how to handle the orders in accordance with CBOE's rules. The Exchange believes it is appropriate to have the Technical Disconnect Mechanism cancel only day orders resting on the book but not day orders resting on a PAR workstation or OMT terminal, since manual handling of those orders has already mitigated the applicable risk. --------------------------------------------------------------------------- \8\ See Rule 6.12 regarding CBOE's hybrid order handling system, including when orders may be routed to a PAR workstation or OMT via the order handling system. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\9\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \10\ requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \11\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f(b). \10\ 15 U.S.C. 78f(b)(5). \11\ Id. --------------------------------------------------------------------------- In particular, the proposed rule change helps maintain a fair and orderly market, promotes efficiency and protects investors. While the optional service to have the Technical Disconnect Mechanism cancel a TPH's day orders mitigates the risks of potential erroneous or unintended executions of those orders associated with a loss in communication with a Client Application, those risks have already been mitigated for day orders resting on a PAR workstation or OMT that are subject to manual handling. Thus, the Exchange believes it is reasonable to not have the Technical Disconnect Mechanism cancel those orders and instead allow the broker, agent or PAR Official, as applicable, to handle those orders as the individual deems appropriate in accordance with CBOE's rules. The Exchange also believes that the proposed rule change is designed to not permit unfair discrimination among market participants, as it applies to all TPHs in the same manner. The Exchange believes it is appropriate to apply this optional cancellation functionality to day orders only resting on the book and not day orders resting on a PAR workstation or OMT, because the latter orders are not subject to the same risks of potential erroneous or unintended executions as the former orders. B. Self-Regulatory Organization's Statement on Burden on Competition CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. Specifically, the Exchange does not believe the proposed rule change will cause any burden on intramarket competition because the proposed rule change applies to all TPHs in the same manner. Use of the service to cancel day orders resting on the book in the event the CAS loses communication with a Client Application is voluntary. Additionally, whether a TPH enables the optional service or not, the TPH's day orders resting on a PAR workstation or OMT will continue to be manually handled as they are today, even if the CAS loses communication with a TPH's Client Application. The Exchange believes it is appropriate to apply this optional cancellation functionality to day orders resting only on the book and not on a PAR workstation or OMT, because, as discussed above, those orders are not subject to the same risks of potential erroneous or unintended executions as the orders resting on the book. Further, the Exchange does not believe that such change will impose any burden on intermarket competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change modifies a mechanism available on CBOE's system and applies only to orders resting in CBOE's book. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. [[Page 79986]] III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \12\ and paragraph (f) of Rule 19b-4 \13\ thereunder. 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 will institute proceedings to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(3)(A). \13\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-CBOE-2015-113 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-CBOE-2015-113. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-CBOE-2015-113 and should be submitted on or before January 13, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\14\ --------------------------------------------------------------------------- \14\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-32186 Filed 12-22-15; 8:45 am] BILLING CODE 8011-01-P
![79984 Federal Register / Vol. 80, No. 246 / Wednesday, December 23, 2015 / Notices
records (collectively ‘‘records’’) made or SECURITIES AND EXCHANGE (i)–(ii) No change.
received by it in connection with COMMISSION (b)–(c) No change.
proposed rule changes filed with the . . . Interpretations and Policies:
[Release No. 34–76672; File No. SR–CBOE– .01 No change.
Commission or in connection with its 2015–113]
index CDS clearance and settlement * * * * *
services as required to be maintained Self-Regulatory Organizations; The text of the proposed rule change
under Rule 17a–1(a) and (b).14 In the Chicago Board Options Exchange, is also available on the Exchange’s Web
Written Request, CME further represents Incorporated; Notice of Filing and site (http://www.cboe.com/AboutCBOE/
that it will produce such records and Immediate Effectiveness of a Proposed CBOELegalRegulatoryHome.aspx), at
Rule Change Relating to the Technical the Exchange’s Office of the Secretary,
furnish such information at the request
Disconnect Mechanism and at the Commission’s Public
of any representative of the
Reference Room.
Commission, and will maintain such December 17, 2015.
records for a period of 5 years from the Pursuant to Section 19(b)(1) of the II. Self-Regulatory Organization’s
effective date of the withdrawal of Securities Exchange Act of 1934 Statement of the Purpose of, and
CME’s registration as a clearing (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Statutory Basis for, the Proposed Rule
agency.15 As noted above, no comments notice is hereby given that, on December Change
were received in response to the 8, 2015, Chicago Board Options In its filing with the Commission, the
published notice of CME’s Written Exchange, Incorporated (the ‘‘Exchange’’ Exchange included statements
Request to withdraw from registration as or ‘‘CBOE’’) filed with the Securities concerning the purpose of and basis for
a clearing agency, which included and Exchange Commission the proposed rule change and discussed
CME’s representations regarding (‘‘Commission’’) the proposed rule any comments it received on the
maintenance of records and record change as described in Items I, II and III proposed rule change. The text of these
production, as well as CME’s below, which Items have been prepared statements may be examined at the
representations regarding any potential by the Exchange. The Commission is places specified in Item IV below. The
for claims associated with its clearing publishing this notice to solicit Exchange has prepared summaries, set
agency registration. comments on the proposed rule change forth in sections A, B, and C below, of
from interested persons. the most significant aspects of such
III. Conclusion statements.
I. Self-Regulatory Organization’s
It is therefore ordered, pursuant to Statement of the Terms of Substance of A. Self-Regulatory Organization’s
Section 19(a)(3) of the Exchange Act,16 the Proposed Rule Change Statement of the Purpose of, and
that: The Exchange proposes to amend Statutory Basis for, the Proposed Rule
Rule 6.23C related to the Exchange’s Change
(1) Effective December 17, 2015,
CME’s registration as a clearing agency Technical Disconnect Mechanism. The 1. Purpose
under Section 17A of the Exchange Act text of the proposed rule change is
provided below. Rule 6.23C(a) provides that when a
is withdrawn and (additions are italicized; deletions are CBOE Application Server (‘‘CAS’’) 3
(2) For a period of 5 years from the [bracketed]) loses communication with a Client
effective date of withdrawal of * * * * * Application 4 such that a CAS does not
registration as a clearing agency, CME Chicago Board Options Exchange, receive an appropriate response to a
will maintain all the records required to Incorporated Rules Heartbeat Request 5 within ‘‘x’’ period of
be maintained pursuant to Rule 17A– time, the Technical Disconnect
* * * * *
1(a) and (b) which are in CME’s Rule 6.23C Technical Disconnect Mechanism will automatically logoff the
possession and will produce such Trading Permit Holder’s (‘‘TPH’’)
(a) When a CBOE Application Server
records upon the request of any affected Client Application. If that
(‘‘CAS’’) loses communication with a
representative of the Commission. occurs, the current rule provides that
Client Application such that a CAS does
the Technical Disconnect Mechanism, if
By the Commission. not receive an appropriate response to a
applicable, will automatically cancel all
Heartbeat Request within ‘‘x’’ period of
Robert W. Errett, the TPH’s Market-Maker quotes posted
time, the Technical Disconnect
Deputy Secretary. Mechanism will automatically logoff the through the affected Client
[FR Doc. 2015–32192 Filed 12–22–15; 8:45 am] Trading Permit Holder’s affected Client 3 CBOE currently has numerous CASs serving
BILLING CODE 8011–01–P Application and automatically cancel TPHs.
all the Trading Permit Holder’s Market- 4 For relevant purposes, a ‘‘Client Application’’ is
Maker quotes, if applicable, and open the system component, such as a CBOE-supported
orders with a time-in-force of ‘‘day’’ workstation or a TPH’s custom trading application,
resting in the Book (which excludes through which a TPH communicates its quotes and/
or orders to a CAS. Messages are passed between
orders resting on a PAR workstation or a Client Application and a CAS. A Market-Maker
order management terminal) (‘‘day may send quotes to the Exchange from one or more
orders’’), if the Trading Permit Holder Client Applications, and a TPH may send orders to
enables that optional service, posted the Exchange from one or more Client Applications.
5 A ‘‘Heartbeat Request’’ refers to a message from
through the affected Client Application. a CAS to a Client Application to check connectivity
tkelley on DSK3SPTVN1PROD with NOTICES
The following describes how the and which requires a response from the Client
Technical Disconnect Mechanism works Application in order to avoid logoff. The Heartbeat
for each of the Exchange’s application Request acts as a virtual pulse between a CAS and
a Client Application and allows a CAS to
14 See Written Request at 5, note 15. See also 17 programming interfaces (‘‘APIs’’): continually monitor its connection with a Client
CFR 240.17a–1(a) and (b).
Application. Failure to receive a response to a
15 See Written Request at 5, note 15. 1 15 U.S.C. 78s(b)(1). Heartbeat Request within the Heartbeat Response
16 15 U.S.C. 78s(a)(3). 2 17 CFR 240.19b–4. Time is indicative of a technical or system issue.
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![79986 Federal Register / Vol. 80, No. 246 / Wednesday, December 23, 2015 / Notices
III. Date of Effectiveness of the Reference Room, 100 F Street NE., II. Self-Regulatory Organization’s
Proposed Rule Change and Timing for Washington, DC 20549, on official Statement of the Purpose of, and
Commission Action business days between the hours of Statutory Basis for, the Proposed Rule
The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of the Change
effective pursuant to Section 19(b)(3)(A) filing also will be available for In its filing with the Commission, the
of the Act 12 and paragraph (f) of Rule inspection and copying at the principal Exchange included statements
19b–4 13 thereunder. At any time within office of the Exchange. All comments
concerning the purpose of and basis for
60 days of the filing of the proposed rule received will be posted without change;
the proposed rule change and discussed
change, the Commission summarily may the Commission does not edit personal
any comments it received on the
temporarily suspend such rule change if identifying information from
proposed rule change. The text of these
it appears to the Commission that such submissions. You should submit only
statements may be examined at the
action is necessary or appropriate in the information that you wish to make
places specified in Item IV below. The
public interest, for the protection of available publicly. All submissions
Exchange has prepared summaries, set
investors, or otherwise in furtherance of should refer to File Number SR–CBOE–
forth in sections A, B, and C below, of
the purposes of the Act. If the 2015–113 and should be submitted on
the most significant aspects of such
Commission takes such action, the or before January 13, 2016.
statements.
Commission will institute proceedings For the Commission, by the Division of
to determine whether the proposed rule Trading and Markets, pursuant to delegated A. Self-Regulatory Organization’s
change should be approved or authority.14 Statement of the Purpose of, and
disapproved. Robert W. Errett, Statutory Basis for, the Proposed Rule
Deputy Secretary. Change
IV. Solicitation of Comments
[FR Doc. 2015–32186 Filed 12–22–15; 8:45 am] 1. Purpose
Interested persons are invited to BILLING CODE 8011–01–P
submit written data, views and The Exchange proposes to amend its
arguments concerning the foregoing, Fee Schedule to: (i) Increase the
including whether the proposed rule SECURITIES AND EXCHANGE transaction fees for transactions in
change is consistent with the Act. COMMISSION standard options in non-Penny Pilot
Comments may be submitted by any of classes for Public Customers 3 that are
[Release No. 34–76674; File No. SR–MIAX– not a Priority Customer,4 Non-MIAX
the following methods:
2015–70]
Market Makers, Non-Member Broker-
Electronic Comments Dealers, and Firms,5 and (ii) increase
Self-Regulatory Organizations; Miami
• Use the Commission’s Internet the transaction fees for transactions in
International Securities Exchange LLC;
comment form (http://www.sec.gov/ standard options in Penny Pilot classes
Notice of Filing and Immediate
rules/sro.shtml); or for Firms. The Exchange also proposes
• Send an email to rule-comments@ Effectiveness of a Proposed Rule
Change To Amend Its Fee Schedule to modify the transaction fees for
sec.gov. Please include File Number SR– transactions for Public Customers that
CBOE–2015–113 on the subject line. December 17, 2015. are not a Priority Customer, Non-MIAX
Paper Comments Pursuant to the provisions of Section Market Makers, Non-Member Broker-
19(b)(1) of the Securities Exchange Act Dealers and Firms that achieve certain
• Send paper comments in triplicate of 1934 (‘‘Act’’) 1 and Rule 19b–4 Priority Customer Rebate Program 6
to Secretary, Securities and Exchange thereunder,2 notice is hereby given that volume tiers. The proposed changes are
Commission, 100 F Street NE., on December 4, 2015, Miami based on the similar fees of other
Washington, DC 20549–1090. International Securities Exchange LLC competing options exchanges.7
All submissions should refer to File (‘‘MIAX’’ or ‘‘Exchange’’) filed with the The Exchange is also proposing
Number SR–CBOE–2015–113. This file Securities and Exchange Commission proportional fee changes applicable to
number should be included on the (‘‘Commission’’) a proposed rule change Mini-Options in non-Penny Pilot
subject line if email is used. To help the as described in Items I, II, and III below, classes, except that such fees applicable
Commission process and review your which Items have been prepared by the to Firms will be increased from $0.04 to
comments more efficiently, please use Exchange. The Commission is $0.07 per contract, as described below.
only one method. The Commission will publishing this notice to solicit The Mini-Options transaction fee in
post all comments on the Commission’s comments on the proposed rule change
Internet Web site (http://www.sec.gov/ from interested persons. 3 The term ‘‘Public Customer’’ means a person
rules/sro.shtml). Copies of the that is not a broker or dealer in securities. See
submission, all subsequent I. Self-Regulatory Organization’s Exchange Rule 100.
amendments, all written statements Statement of the Terms of Substance of 4 The term ‘‘Priority Customer’’ means a person
with respect to the proposed rule the Proposed Rule Change or entity that (i) is not a broker or dealer in
securities, and (ii) does not place more than 390
change that are filed with the The Exchange is filing a proposal to orders in listed options per day on average during
Commission, and all written amend the MIAX Options Fee Schedule a calendar month for its own beneficial accounts(s).
communications relating to the (the ‘‘Fee Schedule’’). 5 This fee is assessed to an Electronic Exchange
proposed rule change between the The text of the proposed rule change Member (‘‘EEM’’) that enters an order that is
executed for an account identified by the EEM for
Commission and any person, other than is available on the Exchange’s Web site clearing in the OCC ‘‘Firm’’ range. See Fee
those that may be withheld from the at http://www.miaxoptions.com/filter/ Schedule, Section 1)a)ii). The term ‘‘Electronic
tkelley on DSK3SPTVN1PROD with NOTICES
public in accordance with the wotitle/rule_filing, at MIAX’s principal Exchange Member’’ means the holder of a Trading
provisions of 5 U.S.C. 552, will be office, and at the Commission’s Public Permit who is not a Market Maker. Electronic
Exchange Members are deemed ‘‘members’’ under
available for Web site viewing and Reference Room. the Exchange Act. See Exchange Rule 100.
printing in the Commission’s Public 6 See Fee Schedule, Section 1)a)iii).
14 17 CFR 200.30–3(a)(12). 7 See NASDAQ OMX PHLX LLC Pricing
12 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). Schedule, Section II; and Chicago Board Options
13 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. Exchange, Incorporated, Fees Schedule, p. 1.
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Document Created: 2018-03-02 09:21:16
Document Modified: 2018-03-02 09:21:16
| 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 79984 |
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