80 FR 80428 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to ALLB Routing and Other Fees for Use of BATS Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 247 (December 24, 2015)
Federal Register Volume 80, Issue 247 (December 24, 2015)
| Page Range | 80428-80430 | |
| FR Document | 2015-32384 |
[Federal Register Volume 80, Number 247 (Thursday, December 24, 2015)] [Notices] [Pages 80428-80430] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-32384] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76688; File No. SR-BATS-2015-114] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to ALLB Routing and Other Fees for Use of BATS Exchange, Inc. December 18, 2015. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on December 15, 2015, BATS Exchange, Inc. (the ``Exchange'' or ``BATS'') 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 Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change effective upon filing with the Commission. 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. \3\ 15 U.S.C. 78s(b)(3)(A)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members \5\ and non-members of the Exchange pursuant to BATS Rules 15.1(a) and (c) (``Fee Schedule'') to adopt fees for the recently adopted ALLB routing strategy. The Exchange also proposes to amend the Fee Codes and Associated Fees table of the Fee Schedule to indicate the amount of the fees and rebates as five decimal points, rather than four decimal points, by adding a zero to the end of each fee and rebate. --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange. A Member will have the status of a ``member'' of the Exchange as that term is defined in Section 3(a)(3) of the Act.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.batstrading.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant parts of such statements. [[Page 80429]] A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose ALLB Routing Fees The Exchange proposes to adopt fees for the ALLB routing strategy. In sum, ALLB is a routing option under which the order checks the System \6\ for available shares and is then sent to the BATS Y- Exchange, Inc. (``BYX''), EDGA Exchange, Inc. (``EDGA''), and the EDGX Exchange, Inc. (``EDGX'' collectively with the Exchange, BYX, and EDGA, the ``BGM Affiliated Exchanges'').\7\ Specifically, an order subject to the ALLB routing option would execute first against liquidity on the BATS Book.\8\ Any remainder would then be routed to BYX, EDGA, and/or EDGX in accordance with the System routing table.\9\ --------------------------------------------------------------------------- \6\ The term ``System'' is defined as ``the electronic communications and trading facility designated by the Board through which securities orders of Users are consolidated for ranking, execution and, when applicable, routing away.'' See Exchange Rule 1.5(aa). \7\ See Exchange Rule 11.13(b)(3)(O). See also Securities Exchange Act Release No. 76455 (November 17, 2015), 80 FR 73009 (November 23, 2015) (SR-BATS-2015-97). \8\ The term ``BATS Book'' is defined as ``the System's electronic file of orders.'' See Exchange Rule 1.5(e). \9\ The term ``System routing table'' refers to the proprietary process for determining the specific trading venues to which the System routes orders and the order in which it routes them. See Exchange Rule 11.13(b)(3). --------------------------------------------------------------------------- The Exchange now proposes to adopt three new fee codes, AA, AX, and AY and related fees for the ALLB routing strategy. These fee codes would enable the Exchange to pass through the rate that BATS Trading, Inc. (``BATS Trading''), the Exchange's affiliated routing broker- dealer, would be charged for routing orders to BYX, EDGA, and EDGX.\10\ Each of the proposed fee codes are described as follows: --------------------------------------------------------------------------- \10\ Orders using the ALLB routing option that execute on the Exchange would be subject to the Exchange's standard fees and rebates, unless the Member achieves a volume tiered reduced fee or enhanced rebate. ---------------------------------------------------------------------------Fee Code AA. Order routed to EDGA using the ALLB routing strategy would yield fee code AA and receive a rebate of $0.00200 per share in securities priced at or above $1.00. Under proposed footnote 15, orders yielding fee code AA in securities priced below $1.00 would be charged no fee nor would they receive a rebate. Fee Code AX. Order routed to EDGX using the ALLB routing strategy would yield fee code AY and be charged a fee of $0.00290 per share in securities priced at or above $1.00. Under proposed footnote 16, orders yielding fee code AX in securities priced below $1.00 would be charged a fee of 0.30% of the transaction's dollar value. Fee Code AY. Order routed to BYX using the ALLB routing strategy would yield fee code AY and receive a rebate of $0.00150 per share in securities priced at or above $1.00. Under proposed footnote 17, orders yielding fee code AY in securities priced below $1.00 would be charged a fee of 0.10% of the transaction's dollar value. BATS Trading will pass through the above rates to the Exchange and the Exchange, in turn, will pass through that exact rate to its Members. The proposed rates would enable the Exchange to equitably allocate its costs among all Members utilizing the ALLB routing strategy. Fee Codes and Associated Fees Table The Exchange also proposes to amend the Fee Codes and Associated Fees table to indicate the amount of the fees and rebates as five decimal points, rather than four decimal points, by adding a zero to the end of each fee and rebate, to reflect the order pricing format on the Exchange's Web site.\11\ The Exchange notes that none of these changes amend any fee or rebate, nor do they alter the manner in which it assesses fees or calculates rebates. --------------------------------------------------------------------------- \11\ The Exchange notes that fee code D already indicates its related fee as five decimal points. --------------------------------------------------------------------------- Implementation Date The Exchange proposes to implement this amendment to its Fee Schedule on January 4, 2016, but the proposed fee codes and their associated rates will not be available until January 8, 2016, the date upon which it announced to Members that it would implement the ALLB routing strategy.\12\ --------------------------------------------------------------------------- \12\ See BATS Announces ALLB Routing Option, available at http://cdn.batstrading.com/resources/release_notes/2015/BATS-ALL-BATS-Routing-Strategy-Release-Schedule-Updated.pdf. The Exchange notes that the Fee Schedule's date was amended to January 4, 2016 in file no. SR-BATS-2015-115 (December 8, 2015). --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\13\ in general, and furthers the objectives of Section 6(b)(4),\14\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange believes that its proposed rates represent an equitable allocation of reasonable dues, fees, and other charges among Members and other persons using its facilities because the Exchange does not levy additional fees or offer additional rebates for orders that it routes to BYX, EDGA, and EDGX through BATS Trading. The Exchange believes that its proposed pass through rate for orders that yield fee codes AA, AX or AY is equitable and reasonable because it accounts for the rate that BATS Trading would be subject to for orders it routes and are executed on BYX, EDGA, and EDGX. In addition, the proposal allows the Exchange to pass-through to its Members the rate for orders that are routed to BYX, EDGA, and EDGX using the ALLB routing strategy. Furthermore, the Exchange notes that routing through BATS Trading is voluntary. Lastly, the Exchange also believes that the proposed amendment is non-discriminatory because it applies uniformly to all Members. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f. \14\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that the changes to the Fee Codes and Associated Fees table of the Fee Schedule are reasonable because they are designed to provide greater transparency to Members with regard to how the Exchange assesses fees and calculates rebates. The Exchange notes that none of the proposed changes are designed to amend any fee, nor alter the manner in which it assesses fees or calculates rebates. These changes to the Fee Schedule are intended to make the Fee Schedule clearer and less confusing for investors and eliminate potential investor confusion, thereby removing impediments to and perfecting the mechanism of a free and open market and a national market system, and, in general, protecting investors and the public interest. B. Self-Regulatory Organization's Statement on Burden on Competition This proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that this change represents a significant departure from previous pricing offered by the Exchange or pricing offered by the Exchange's competitors. Additionally, Members may opt to disfavor the Exchange's pricing if they believe that alternatives offer them better value. Accordingly, the Exchange does not believe that the proposed changes will impair the ability of Members or competing venues to maintain their competitive standing in the financial markets. The Exchange believes that its proposal to pass through the rates that BATS Trading [[Page 80430]] would be subject to for orders routing to BYX, EDGA, and EDGX using the ALLB routing strategy to Members would increase intermarket competition because it offers customers an alternative means to route orders to those venues. In addition, the proposed pricing would not provide any advantage to Users when routing to BYX, EDGA, and EDGX as compared to other methods of routing or connectivity available to Users by the Exchange because the proposed rates are identical to what the Member would be subject to if it routed to those venues directly. The Exchange believes that its proposal would not burden intramarket competition because the proposed rate would apply uniformly to all Members. The Exchange believes that the changes to the Fee Codes and Associated Fees table of the Fee Schedule would not affect intermarket nor intramarket competition because none of these changes are designed to amend any fee or alter the manner in which the Exchange assesses fees or calculates rebates. These changes are intended to provide greater clarity to Members with regard to how the Exchange access fees and calculates rebates. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from Members or other interested parties. 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 \15\ and paragraph (f) of Rule 19b-4 thereunder.\16\ 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. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A). \16\ 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 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 No. SR-BATS-2015-114 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 No. SR-BATS-2015-114. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing 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 No. SR-BATS-2015-114 and should be submitted on or before January 14, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2015-32384 Filed 12-23-15; 8:45 am] BILLING CODE 8011-01-P
![80428 Federal Register / Vol. 80, No. 247 / Thursday, December 24, 2015 / Notices
of the Act 12 and Rule 19b–4(f)(6) 13 All submissions should refer to File 15, 2015, BATS Exchange, Inc. (the
thereunder. The Exchange has requested Number SR–MIAX–2015–71. This file ‘‘Exchange’’ or ‘‘BATS’’) filed with the
that the Commission waive the thirty- number should be included on the Securities and Exchange Commission
day operative delay so that the proposal subject line if email is used. To help the (‘‘Commission’’) the proposed rule
may become operative as of January 4, Commission process and review your change as described in Items I, II, and
2016. The Exchange states that waiving comments more efficiently, please use III below, which Items have been
the thirty-day delay would enable it to only one method. The Commission will prepared by the Exchange. The
implement the Securities Trader and post all comments on the Commission’s Exchange has designated the proposed
Securities Trader Principal registration Internet Web site (http://www.sec.gov/ rule change as one establishing or
categories, and their respective rules/sro.shtml). changing a member due, fee, or other
examination and continuing education Copies of the submission, all charge imposed by the Exchange under
requirements, at the same time as subsequent amendments, all written Section 19(b)(3)(A)(ii) of the Act 3 and
FINRA and the other national securities statements with respect to the proposed Rule 19b–4(f)(2) thereunder,4 which
exchanges. The Commission believes rule change that are filed with the renders the proposed rule change
that waiving the thirty day delay is Commission, and all written effective upon filing with the
consistent with the protection of communications relating to the Commission. The Commission is
investors and the public interest. proposed rule change between the publishing this notice to solicit
Therefore, the Commission hereby Commission and any person, other than comments on the proposed rule change
waives the thirty-day operative delay those that may be withheld from the from interested persons.
and designates the proposal operative as public in accordance with the
provisions of 5 U.S.C. 552, will be I. Self-Regulatory Organization’s
of January 4, 2016.14
available for Web site viewing and Statement of the Terms of Substance of
At any time within 60 days of the
printing in the Commission’s Public the Proposed Rule Change
filing of the proposed rule change, the
Commission summarily may Reference Room, 100 F Street NE., The Exchange filed a proposal to
temporarily suspend such rule change if Washington, DC 20549, on official amend the fee schedule applicable to
it appears to the Commission that such business days between the hours of Members 5 and non-members of the
action is necessary or appropriate in the 10:00 a.m. and 3:00 p.m. Copies of the Exchange pursuant to BATS Rules
public interest, for the protection of filing also will be available for 15.1(a) and (c) (‘‘Fee Schedule’’) to
investors, or otherwise in furtherance of inspection and copying at the principal adopt fees for the recently adopted
the purposes of the Act. If the office of the Exchange. All comments ALLB routing strategy. The Exchange
Commission takes such action, the received will be posted without change; also proposes to amend the Fee Codes
Commission shall institute proceedings the Commission does not edit personal
and Associated Fees table of the Fee
to determine whether the proposed rule identifying information from
Schedule to indicate the amount of the
should be approved or disapproved. submissions. You should submit only
fees and rebates as five decimal points,
information that you wish to make
IV. Solicitation of Comments rather than four decimal points, by
available publicly. All submissions
adding a zero to the end of each fee and
Interested persons are invited to should refer to File Number SR–MIAX–
rebate.
submit written data, views, and 2015–71 and should be submitted on or
before January 14, 2016. The text of the proposed rule change
arguments concerning the foregoing, is available at the Exchange’s Web site
including whether the proposed rule For the Commission, by the Division of at www.batstrading.com, at the
change is consistent with the Act. Trading and Markets, pursuant to delegated
authority.15 principal office of the Exchange, and at
Comments may be submitted by any of the Commission’s Public Reference
the following methods: Robert W. Errett,
Room.
Deputy Secretary.
Electronic Comments II. Self-Regulatory Organization’s
[FR Doc. 2015–32387 Filed 12–23–15; 8:45 am]
• Use the Commission’s Internet BILLING CODE 8011–01–P Statement of the Purpose of, and
comment form (http://www.sec.gov/ Statutory Basis for, the Proposed Rule
rules/sro.shtml); or Change
• Send an email to rule-comments@ SECURITIES AND EXCHANGE
sec.gov. Please include File Number SR- In its filing with the Commission, the
COMMISSION
MIAX–2015–71 on the subject line. Exchange included statements
[Release No. 34–76688; File No. SR–BATS– concerning the purpose of and basis for
Paper Comments 2015–114] the proposed rule change and discussed
• Send paper comments in triplicate Self-Regulatory Organizations; BATS
any comments it received on the
to Brent J. Fields, Secretary, Securities proposed rule change. The text of these
Exchange, Inc.; Notice of Filing and statements may be examined at the
and Exchange Commission, 100 F Street Immediate Effectiveness of a Proposed
NE., Washington, DC 20549–1090. places specified in Item IV below. The
Rule Change Related to ALLB Routing Exchange has prepared summaries, set
12 15
and Other Fees for Use of BATS forth in Sections A, B, and C below, of
U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
Exchange, Inc. the most significant parts of such
4(f)(6) requires a self-regulatory organization to give December 18, 2015. statements.
the Commission written notice of its intent to file
mstockstill on DSK4VPTVN1PROD with NOTICES
the proposed rule change at least five business days Pursuant to Section 19(b)(1) of the
prior to the date of filing of the proposed rule Securities Exchange Act of 1934 (the 3 15 U.S.C. 78s(b)(3)(A)(ii).
change, or such shorter time as designated by the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 4 17 CFR 240.19b–4(f)(2).
Commission. The Exchange has satisfied this 5 The term ‘‘Member’’ is defined as ‘‘any
requirement.
notice is hereby given that on December
registered broker or dealer that has been admitted
14 For purposes of waiving the 30-day operative to membership in the Exchange. A Member will
15 17 CFR 200.30–3(a)(12).
delay, the Commission has considered the proposed have the status of a ‘‘member’’ of the Exchange as
1 15 U.S.C. 78s(b)(1).
rule’s impact on efficiency, competition, and capital that term is defined in Section 3(a)(3) of the Act.’’
formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. See Exchange Rule 1.5(n).
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![80430 Federal Register / Vol. 80, No. 247 / Thursday, December 24, 2015 / Notices
would be subject to for orders routing to Comments may be submitted by any of SECURITIES AND EXCHANGE
BYX, EDGA, and EDGX using the ALLB the following methods: COMMISSION
routing strategy to Members would
increase intermarket competition Electronic Comments [Release No. 34–76690; File No. SR–
because it offers customers an NYSEARCA–2015–121]
• Use the Commission’s Internet
alternative means to route orders to comment form (http://www.sec.gov/ Self-Regulatory Organizations; NYSE
those venues. In addition, the proposed rules/sro.shtml); or Arca, Inc.; Notice of Filing of Proposed
pricing would not provide any Rule Change To Amend Rule 1.1(s) To
advantage to Users when routing to • Send an email to rule-comments@
sec.gov. Please include File No. SR– Provide for Price Collar Thresholds for
BYX, EDGA, and EDGX as compared to Trading Halt Auctions
other methods of routing or connectivity BATS–2015–114 on the subject line.
available to Users by the Exchange Paper Comments December 18, 2015.
because the proposed rates are identical Pursuant to Section 19(b)(1) 1 of the
to what the Member would be subject to • Send paper comments in triplicate Securities Exchange Act of 1934 (the
if it routed to those venues directly. The to Secretary, Securities and Exchange ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Exchange believes that its proposal Commission, 100 F Street NE., notice is hereby given that, on December
would not burden intramarket Washington, DC 20549–1090. 7, 2015, NYSE Arca, Inc. (the
competition because the proposed rate All submissions should refer to File No. ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
would apply uniformly to all Members. SR–BATS–2015–114. This file number the Securities and Exchange
The Exchange believes that the Commission (the ‘‘Commission’’) the
should be included on the subject line
changes to the Fee Codes and proposed rule change as described in
if email is used. To help the
Associated Fees table of the Fee Items I and II below, which Items have
Schedule would not affect intermarket Commission process and review your
comments more efficiently, please use been prepared by the self-regulatory
nor intramarket competition because organization. The Commission is
none of these changes are designed to only one method. The Commission will
post all comments on the Commission’s publishing this notice to solicit
amend any fee or alter the manner in comments on the proposed rule change
which the Exchange assesses fees or Internet Web site (http://www.sec.gov/
from interested persons.
calculates rebates. These changes are rules/sro.shtml). Copies of the
intended to provide greater clarity to submission, all subsequent I. Self-Regulatory Organization’s
Members with regard to how the amendments, all written statements Statement of the Terms of Substance of
Exchange access fees and calculates with respect to the proposed rule the Proposed Rule Change
rebates. change that are filed with the The Exchange proposes to amend
Commission, and all written Rule 1.1(s) to provide for price collar
C. Self-Regulatory Organization’s communications relating to the
Statement on Comments on the thresholds for Trading Halt Auctions.
proposed rule change between the The text of the proposed rule change is
Proposed Rule Change Received From Commission and any person, other than
Members, Participants or Others available on the Exchange’s Web site at
those that may be withheld from the www.nyse.com, at the principal office of
The Exchange has not solicited, and public in accordance with the the Exchange, and at the Commission’s
does not intend to solicit, comments on provisions of 5 U.S.C. 552, will be Public Reference Room.
this proposed rule change. The available for Web site viewing and
Exchange has not received any printing in the Commission’s Public II. Self-Regulatory Organization’s
unsolicited written comments from Reference Room, 100 F Street NE., Statement of the Purpose of, and
Members or other interested parties. Washington, DC 20549, on official Statutory Basis for, the Proposed Rule
business days between the hours of Change
III. Date of Effectiveness of the
Proposed Rule Change and Timing for 10:00 a.m. and 3:00 p.m. Copies of such In its filing with the Commission, the
Commission Action filing will also be available for self-regulatory organization included
inspection and copying at the principal statements concerning the purpose of,
The foregoing rule change has become office of the Exchange. All comments and basis for, the proposed rule change
effective pursuant to Section 19(b)(3)(A) and discussed any comments it received
received will be posted without change;
of the Act 15 and paragraph (f) of Rule on the proposed rule change. The text
the Commission does not edit personal
19b–4 thereunder.16 At any time within of those statements may be examined at
identifying information from
60 days of the filing of the proposed rule the places specified in Item IV below.
submissions. You should submit only
change, the Commission summarily may The Exchange has prepared summaries,
information that you wish to make
temporarily suspend such rule change if set forth in sections A, B, and C below,
available publicly. All submissions
it appears to the Commission that such of the most significant parts of such
action is necessary or appropriate in the should refer to File No. SR–BATS–
2015–114 and should be submitted on statements.
public interest, for the protection of
investors, or otherwise in furtherance of or before January 14, 2016. A. Self-Regulatory Organization’s
the purposes of the Act. For the Commission, by the Division of Statement of the Purpose of, and the
Trading and Markets, pursuant to delegated Statutory Basis for, the Proposed Rule
IV. Solicitation of Comments Change
authority.17
mstockstill on DSK4VPTVN1PROD with NOTICES
Interested persons are invited to
1. Purpose
submit written data, views, and Robert W. Errett,
arguments concerning the foregoing, The Exchange proposes to amend
Deputy Secretary.
including whether the proposed rule Rule 1.1(s) to provide for price collar
[FR Doc. 2015–32384 Filed 12–23–15; 8:45 am]
change is consistent with the Act.
BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1).
15 15 U.S.C. 78s(b)(3)(A). 2 15 U.S.C. 78a.
16 17 CFR 240.19b–4(f). 17 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4.
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Document Created: 2015-12-24 02:24:57
Document Modified: 2015-12-24 02:24:57
| 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 80428 |
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