80 FR 80823 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule To Update Certain Fees Assessed Under Section V (Connectivity Fees)
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 248 (December 28, 2015)
Federal Register Volume 80, Issue 248 (December 28, 2015)
| Page Range | 80823-80824 | |
| FR Document | 2015-32538 |
[Federal Register Volume 80, Number 248 (Monday, December 28, 2015)] [Notices] [Pages 80823-80824] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-32538] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76710; File No. SR-BOX-2015-39] Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule To Update Certain Fees Assessed Under Section V (Connectivity Fees) December 21, 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, BOX Options Exchange LLC (the ``Exchange'') 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 filed the proposed rule change pursuant to Section 19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposal 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 the Substance of the Proposed Rule Change The Exchange is filing with the Securities and Exchange Commission (``Commission'') a proposed rule change to amend the Fee Schedule to update certain fees assessed under Section V (Connectivity Fees) on the BOX Market LLC (``BOX'') options facility. Changes to the fee schedule pursuant to this proposal will be effective upon filing. The text of the proposed rule change is available from the principal office of the Exchange, at the Commission's Public Reference Room and also on the Exchange's Internet Web site at http://boxexchange.com. 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 The Exchange proposes to amend the Fee Schedule for trading on BOX to update the connectivity fees that are assessed on market participants. Section V.A. of the BOX Fee Schedule ``Connectivity Fees'', was created to detail the fees applicable to market participants who connect to the BOX market network at Point of Presence (``PoP'') sites.\5\ These sites are owned and operated by third-party external vendors, and the fees listed in this section are meant to encompass the fees that could be charged based on each market participant's particular configuration. BOX does not assess Connectivity Fees; these fees are assessed by the datacenters and are billed directly to the market participant. Connectivity fees can include one-time set-up fees and monthly fees charged by the third-party vendor in exchange for the services provided to the market participant. --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 69909 (July 2, 2013) 78 FR 41174 (July 9, 2013) (SR-BOX-2013-35). --------------------------------------------------------------------------- The Exchange proposes to update the fees applicable for the datacenters where market participants may connect to the BOX network: NY4, owned and operated by Equinix; and 65 Broadway, owned and operated by 365 Main; and the connectivity fees applicable, depending upon connection type. Market participants are currently assessed the following fees when connecting to the BOX network: ---------------------------------------------------------------------------------------------------------------- NY4 65 Broadway ---------------------------------------------------------------------------------------------------------------- One-time One-time Connection type set-up Monthly set-up Monthly ---------------------------------------------------------------------------------------------------------------- POTS........................................................ $100 $25 $50 $25 Ethernet.................................................... N/A N/A 250 225 T1.......................................................... 500 100 N/A N/A Cat 5/6..................................................... 500 245 250 225 COAX........................................................ 500 245 250 200 Single & Multi Mode Fiber................................... 500 350 325 500 Extended Cross Connect...................................... 850 1000 N/A N/A ---------------------------------------------------------------------------------------------------------------- The Exchange proposes to add the Intra-Customer Cross Connect Connection Type for NY4 datacenter and to update the applicable fees as follows: [[Page 80824]] ---------------------------------------------------------------------------------------------------------------- NY4 65 Broadway ---------------------------------------------------------------------------------------------------------------- One-time One-time Connection type set-up Monthly set-up Monthly ---------------------------------------------------------------------------------------------------------------- POTS........................................................ $100 $25 $50 $25 Ethernet.................................................... N/A N/A 250 175 T1.......................................................... 500 100 250 175 Cat 5/6..................................................... 500 245 250 175 COAX........................................................ 500 245 250 200 Single & Multi Mode Fiber................................... 500 350 500 250 Extended Cross Connect...................................... 1000 750 500 400 Intra-Customer Cross Connect................................ 500 0 N/A N/A ---------------------------------------------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of Section 6(b) of the Act, in general, and Section 6(b)(4) and 6(b)(5)of the Act,\6\ in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among BOX Participants and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- The Exchange believes it is reasonable, equitable and not unfairly discriminatory to state that connectivity fees are assessed on all market participants that establish connections to BOX through a third- party and that these fees will be billed directly to the market participant. The Exchange believes that the proposed amendments to Section V.A. of the Fee Schedule are reasonable as they simply reflect the fee changes made by the datacenters, changes which the Exchange has no control over. Further, the Exchange believes that the proposed Connectivity Fees constitute an equitable allocation of fees, and are not unfairly discriminatory, as all similarly situated market participants are charged the same amount depending on the services they receive. 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. The Exchange believes that the proposed amendments to the Fee Schedule will not impose a burden on competition among various Exchange Participants. The proposed change is designed to provide greater specificity and clarity within the Fee Schedule and does not place any Participants at a disadvantage compared to other Participants. Further, the Exchange does not believe this rule change will have an impact on intermarket competition. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Exchange Act \7\ and Rule 19b-4(f)(2) thereunder,\8\ because it establishes or changes a due, or fee. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78s(b)(3)(A)(ii). \8\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend the rule change if it appears to the Commission that the action is necessary or appropriate in the public interest, for the protection of investors, or would otherwise further the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic 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-BOX-2015-39 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-BOX-2015-39. 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 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-BOX-2015-39, and should be submitted on or before January 19, 2016. --------------------------------------------------------------------------- \9\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\9\ Brent J. Fields, Secretary. [FR Doc. 2015-32538 Filed 12-24-15; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 80, No. 248 / Monday, December 28, 2015 / Notices 80823
SUPPLEMENTARY INFORMATION: The pursuant to Section 19(b)(3)(A)(ii) of the A. Self-Regulatory Organization’s
United States Postal Service® hereby Act,3 and Rule 19b–4(f)(2) thereunder,4 Statement of the Purpose of, and
gives notice that, pursuant to 39 U.S.C. which renders the proposal effective Statutory Basis for, the Proposed Rule
3642 and 3632(b)(3), on December 22, upon filing with the Commission. The Change
2015, it filed with the Postal Regulatory Commission is publishing this notice to
Commission a Request of the United solicit comments on the proposed rule 1. Purpose
States Postal Service to Add First-Class change from interested persons. The Exchange proposes to amend the
Package Service Contract 40 to
I. Self-Regulatory Organization’s Fee Schedule for trading on BOX to
Competitive Product List. Documents
are available at www.prc.gov, Docket Statement of the Terms of the Substance update the connectivity fees that are
Nos. MC2016–51, CP2016–66. of the Proposed Rule Change assessed on market participants.
The Exchange is filing with the Section V.A. of the BOX Fee Schedule
Stanley F. Mires,
Securities and Exchange Commission ‘‘Connectivity Fees’’, was created to
Attorney, Federal Compliance.
(‘‘Commission’’) a proposed rule change detail the fees applicable to market
[FR Doc. 2015–32499 Filed 12–24–15; 8:45 am]
to amend the Fee Schedule to update participants who connect to the BOX
BILLING CODE 7710–12–P
certain fees assessed under Section V market network at Point of Presence
(Connectivity Fees) on the BOX Market (‘‘PoP’’) sites.5 These sites are owned
LLC (‘‘BOX’’) options facility. Changes and operated by third-party external
SECURITIES AND EXCHANGE to the fee schedule pursuant to this vendors, and the fees listed in this
COMMISSION proposal will be effective upon filing. section are meant to encompass the fees
[Release No. 34–76710; File No. SR–BOX– The text of the proposed rule change is that could be charged based on each
2015–39] available from the principal office of the market participant’s particular
Exchange, at the Commission’s Public configuration. BOX does not assess
Self-Regulatory Organizations; BOX Reference Room and also on the
Options Exchange LLC; Notice of Connectivity Fees; these fees are
Exchange’s Internet Web site at http:// assessed by the datacenters and are
Filing and Immediate Effectiveness of boxexchange.com.
a Proposed Rule Change To Amend billed directly to the market participant.
the Fee Schedule To Update Certain II. Self-Regulatory Organization’s Connectivity fees can include one-time
Fees Assessed Under Section V Statement of the Purpose of, and set-up fees and monthly fees charged by
(Connectivity Fees) Statutory Basis for, the Proposed Rule the third-party vendor in exchange for
Change the services provided to the market
December 21, 2015. participant.
Pursuant to Section 19(b)(1) of the In its filing with the Commission, the
Securities Exchange Act of 1934 (the Exchange included statements The Exchange proposes to update the
‘‘Act’’),1 and Rule 19b–4 thereunder,2 concerning the purpose of and basis for fees applicable for the datacenters
notice is hereby given that on December the proposed rule change and discussed where market participants may connect
15, 2015, BOX Options Exchange LLC any comments it received on the to the BOX network: NY4, owned and
(the ‘‘Exchange’’) filed with the proposed rule change. The text of these operated by Equinix; and 65 Broadway,
Securities and Exchange Commission statements may be examined at the owned and operated by 365 Main; and
(‘‘Commission’’) the proposed rule places specified in Item IV below. The the connectivity fees applicable,
change as described in Items I, II, and Exchange has prepared summaries, set depending upon connection type.
III below, which Items have been forth in Sections A, B, and C below, of Market participants are currently
prepared by the Exchange. The the most significant aspects of such assessed the following fees when
Exchange filed the proposed rule change statements. connecting to the BOX network:
NY4 65 Broadway
One-time One-time
Connection type Monthly Monthly
set-up set-up
POTS ............................................................................................................................... $100 $25 $50 $25
Ethernet ........................................................................................................................... N/A N/A 250 225
T1 ..................................................................................................................................... 500 100 N/A N/A
Cat 5/6 ............................................................................................................................. 500 245 250 225
COAX ............................................................................................................................... 500 245 250 200
Single & Multi Mode Fiber ............................................................................................... 500 350 325 500
Extended Cross Connect ................................................................................................. 850 1000 N/A N/A
The Exchange proposes to add the and to update the applicable fees as
Intra-Customer Cross Connect follows:
Connection Type for NY4 datacenter
mstockstill on DSK4VPTVN1PROD with NOTICES
1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78s(b)(3)(A)(ii). 5 See Securities Exchange Act Release No. 69909
2 17 CFR 240.19b–4. 4 17 CFR 240.19b–4(f)(2). (July 2, 2013) 78 FR 41174 (July 9, 2013) (SR–BOX–
2013–35).
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![80824 Federal Register / Vol. 80, No. 248 / Monday, December 28, 2015 / Notices
NY4 65 Broadway
One-time One-time
Connection type Monthly Monthly
set-up set-up
POTS ............................................................................................................................... $100 $25 $50 $25
Ethernet ........................................................................................................................... N/A N/A 250 175
T1 ..................................................................................................................................... 500 100 250 175
Cat 5/6 ............................................................................................................................. 500 245 250 175
COAX ............................................................................................................................... 500 245 250 200
Single & Multi Mode Fiber ............................................................................................... 500 350 500 250
Extended Cross Connect ................................................................................................. 1000 750 500 400
Intra-Customer Cross Connect ........................................................................................ 500 0 N/A N/A
2. Statutory Basis change will have an impact on Commission, 100 F Street NE.,
The Exchange believes that the intermarket competition. Washington, DC 20549–1090.
proposal is consistent with the C. Self-Regulatory Organization’s All submissions should refer to File
requirements of Section 6(b) of the Act, Statement on Comments on the Number SR–BOX–2015–39. This file
in general, and Section 6(b)(4) and Proposed Rule Change Received From number should be included on the
6(b)(5)of the Act,6 in particular, in that Members, Participants, or Others subject line if email is used. To help the
it provides for the equitable allocation Commission process and review your
No written comments were either
of reasonable dues, fees, and other comments more efficiently, please use
solicited or received.
charges among BOX Participants and only one method. The Commission will
other persons using its facilities and III. Date of Effectiveness of the
post all comments on the Commission’s
does not unfairly discriminate between Proposed Rule Change and Timing for
Internet Web site (http://www.sec.gov/
customers, issuers, brokers or dealers. Commission Action
rules/sro.shtml). Copies of the
The Exchange believes it is The foregoing rule change has become
reasonable, equitable and not unfairly submission, all subsequent
effective pursuant to Section amendments, all written statements
discriminatory to state that connectivity 19(b)(3)(A)(ii) of the Exchange Act 7 and
fees are assessed on all market with respect to the proposed rule
Rule 19b–4(f)(2) thereunder,8 because it change that are filed with the
participants that establish connections establishes or changes a due, or fee.
to BOX through a third-party and that Commission, and all written
At any time within 60 days of the communications relating to the
these fees will be billed directly to the filing of the proposed rule change, the
market participant. The Exchange proposed rule change between the
Commission summarily may
believes that the proposed amendments Commission and any person, other than
temporarily suspend the rule change if
to Section V.A. of the Fee Schedule are those that may be withheld from the
it appears to the Commission that the
reasonable as they simply reflect the fee action is necessary or appropriate in the public in accordance with the
changes made by the datacenters, public interest, for the protection of provisions of 5 U.S.C. 552, will be
changes which the Exchange has no investors, or would otherwise further available for Web site viewing and
control over. the purposes of the Act. If the printing in the Commission’s Public
Further, the Exchange believes that Commission takes such action, the Reference Room, 100 F Street NE.,
the proposed Connectivity Fees Commission shall institute proceedings Washington, DC 20549 on official
constitute an equitable allocation of to determine whether the proposed rule business days between the hours of
fees, and are not unfairly should be approved or disapproved. 10:00 a.m. and 3:00 p.m. Copies of such
discriminatory, as all similarly situated filing also will be available for
market participants are charged the IV. Solicitation of Comments inspection and copying at the principal
same amount depending on the services Interested persons are invited to office of the Exchange. All comments
they receive. submit written data, views, and received will be posted without change;
B. Self-Regulatory Organization’s arguments concerning the foregoing, the Commission does not edit personal
Statement on Burden on Competition including whether the proposed rule identifying information from
change is consistent with the Act. submissions. You should submit only
The Exchange does not believe that Comments may be submitted by any of
the proposed rule change will impose information that you wish to make
the following methods: available publicly. All submissions
any burden on competition not
necessary or appropriate in furtherance Electronic Comments should refer to File Number SR–BOX–
of the purposes of the Act. The 2015–39, and should be submitted on or
• Use the Commission’s Internet
Exchange believes that the proposed before January 19, 2016.
comment form (http://www.sec.gov/
amendments to the Fee Schedule will rules/sro.shtml); or For the Commission, by the Division of
not impose a burden on competition • Send an email to rule-comments@ Trading and Markets, pursuant to delegated
among various Exchange Participants. sec.gov. Please include File Number SR– authority.9
mstockstill on DSK4VPTVN1PROD with NOTICES
The proposed change is designed to BOX–2015–39 on the subject line. Brent J. Fields,
provide greater specificity and clarity
Paper Comments Secretary.
within the Fee Schedule and does not
[FR Doc. 2015–32538 Filed 12–24–15; 8:45 am]
place any Participants at a disadvantage • Send paper comments in triplicate
compared to other Participants. Further, to Secretary, Securities and Exchange BILLING CODE 8011–01–P
the Exchange does not believe this rule
7 15 U.S.C. 78s(b)(3)(A)(ii).
6 15 U.S.C. 78f(b)(4) and (5). 8 17 CFR 240.19b–4(f)(2). 9 17 CFR 200.30–3(a)(12).
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Document Created: 2018-03-02 09:24:00
Document Modified: 2018-03-02 09:24:00
| 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 80823 |
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