80 FR 8742 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 80, Issue 32 (February 18, 2015)

Page Range		8742-8744
FR Document		2015-03226

Federal Register, Volume 80 Issue 32 (Wednesday, February 18, 2015)

[Federal Register Volume 80, Number 32 (Wednesday, February 18, 2015)]
[Notices]
[Pages 8742-8744]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2015-03226]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74253; File No. SR-CBOE-2015-014)

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend the Fees Schedule

February 11, 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 February 2, 2015, Chicago Board Options Exchange, Incorporated
(the ``Exchange'' or ``CBOE'') 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
Exchange. The Commission is publishing this notice to

[[Page 8743]]

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 its Fees Schedule. The text of the
proposed rule change is 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
The Exchange proposes to make a number of changes to its Fees
Schedule, effective February 2, 2015.
Removal of Outdated References
First, the Exchange notes that it no longer lists Credit Default
Options or Credit Default Basket Options. As such, the Exchange
proposes to delete from the Fees Schedule all references to these
options, as such references are no longer necessary and are obsolete.
The Exchange also proposes to eliminate outdated references to
``CBSX.'' On April 30, 2014, the CBOE Stock Exchange (``CBSX''),
formerly a stock trading facility of CBOE, ceased trading operations.
On August 7, 2014, the status of any remaining CBSX Trading Permit
Holders was terminated. Accordingly, references to ``CBSX'' are now
obsolete and therefore unnecessary to maintain in the Fees Schedule.
The Exchange proposes to remove all such references to maintain clarity
in the Fees Schedule and avoid potential confusion.
References to ``Underlying Symbol List A''
On December 1, 2014, the Exchange revised its Fees Schedule to
define a list of certain proprietary products that is often
collectively excluded or included in various fees and fee programs.\3\
Specifically, the Exchange adopted the term ``Underlying Symbol List
A'' to refer the following products: OEX, XEO, SPX (including SPXw),
SPXpm, SRO, VIX, VXST, VOLATILITY INDEXES and binary options. Although
a number of references to these options were replaced by the new term
when first adopted, the Exchange inadvertently did not replace all
references to this list with ``Underlying Symbol List A.'' In order to
maintain consistency through the Fees Schedule, the Exchange now seeks
to replace all remaining references to the abovementioned list of
products with the term ``Underlying Symbol List A.''
---------------------------------------------------------------------------

\3\ See Securities Exchange Act Release No. 73832 (December 12,
2014), 79 FR 243 (December 18, 2014) (SR-CBOE-2014-092).
---------------------------------------------------------------------------

PULSe Workstation
The Exchange proposes to make certain amendments to the PULSe
Workstation (``PULSe'') fees. By way of background, the Exchange
charges a fee of $400 per month per Trading Permit Holder (``TPH'')
workstation for the first 10 users and $100 per month for all
subsequent users. TPHs may also make the functionality available to
their customers, which may include non-broker dealer public customers
and non-TPH broker dealers (referred to herein as ``non-TPHs''). For
such non-TPH workstations, the Exchange charges a fee of $400 per month
per workstation.
The Exchange first proposes to clarify and make explicit that the
PULSe fees are assessed on a ``per login ID'' basis. Currently, the
Fees Schedule states that the monthly fee for PULSe TPH workstations is
``$400/month (per TPH workstation for the first 10)'' and ``$100/month
(per each additional TPH workstation)'' and for PULSe non-TPH
workstations ``$400/month (per non-TPH workstation).'' The Exchange
believes the current language, and the use of the term ``workstation'',
may be confusing to market participants. As such, the Exchange seeks to
make clear in the Fees Schedule that the PULSe fees are assessed per
login Id [sic]. The Exchange notes that this proposed change is merely
a clarification and that no substantive changes are being made to how
PULSe fees are assessed.
Next, the Exchange proposes to provide that the $400 per month, per
login ID fee will be applicable to the first 15 login IDs (instead of
the first 10). The Exchange expended significant resources developing
PULSe, and seeks to recoup more of those costs.
Finally, the Exchange seeks to remove outdate [sic] language from
the Notes section of the PULSe fees table. Currently, the Notes section
for both the TPH and non-TPH workstations fees states that the fee is
waived for the first month for the first new user of a TPH and non-TPH,
respectively. Additionally, the Notes section provides that the fee is
waived for the first two months for all new users between August 1,
2014 and December 31, 2014, and that the fee is waived for the month of
August 2014 for all users that became new users in July 2014. As the
above referenced waiver periods have since passed, the Exchange no
longer believes this language is necessary to maintain in the Fees
Schedule. The Exchange notes that the fee will continue to be waived
for the first month of the first new user of a TPH or non-TPH.
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.\4\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \5\ 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 facilitation
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
Section 6(b)(4) of the Act,\6\ which requires that Exchange rules
provide for the equitable allocation of reasonable dues, fees, and
other charges among its Trading Permit Holders and other persons using
its facilities.
---------------------------------------------------------------------------

\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

In particular, the Exchange always strives for clarity in its rules
and Fees Schedule, so that market participants may best understand how
rules and fees apply. The Exchange believes that the proposed
clarifications and removal of

[[Page 8744]]

outdated language in the Fees Schedule will make the Fees Schedule
easier to read and alleviate potential confusion. The alleviation of
potential confusion will remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, protect investors and the public interest.
The Exchange believes assessing the $400 per month, per login ID
fee to the first 15 login IDs (instead of the first 10) is reasonable
because the Exchange expended significant resources developing PULSe
and desires to recoup more of those costs. The Exchange believes this
proposed rule change is equitable and not unfairly discriminatory
because all TPHs who desire to use PULSe will be subject to this
change.

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 that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed changes to
alleviate confusion are not intended for competitive reasons and only
apply to CBOE. Additionally, the Exchange does not believe the proposed
change to assess the PULSe login Id [sic] fee to the first 15 login Ids
[sic] of a TPH will impose any burden on intramarket competition that
is not necessary or appropriate in furtherance of the purposes of the
Act because the proposed change applies to all Trading Permit Holders.
The Exchange believes this proposal will not cause an unnecessary
burden on intermarket competition because the proposed change was not
motivated by intermarket competition. To the extent that the proposed
changes make CBOE a more attractive marketplace for market participants
at other exchanges, such market participants are welcome to become CBOE
market participants.

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.

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 \7\ and paragraph (f) of Rule 19b-4 \8\
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.
---------------------------------------------------------------------------

\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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 rule-comments@sec.gov. Please include
File Number SR-CBOE-2015-014 on the subject line.

Paper Comments

Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-CBOE-2015-014. 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-2015-014 and should be
submitted on or before March 11, 2015.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-03226 Filed 2-17-15; 8:45 am]
BILLING CODE 8011-01-P

8742 Federal Register / Vol. 80, No. 32 / Wednesday, February 18, 2015 / Notices

prevent fraudulent and manipulative to Rule 19b–4(f)(6)(iii),14 the amendments, all written statements
acts and practices, to promote just and Commission may designate a shorter with respect to the proposed rule
equitable principles of trade, and, in time if such action is consistent with the change that are filed with the
general, to protect investors and the protection of investors and the public Commission, and all written
public interest. FINRA also believes that interest. communications relating to the
the proposed rule change is consistent FINRA has asked the Commission to proposed rule change between the
with the provisions of Section waive the 30-day operative delay so that Commission and any person, other than
15A(b)(11) of the Act.10 Section the proposal may become operative those that may be withheld from the
15A(b)(11) requires that FINRA rules immediately upon filing. The public in accordance with the
include provisions governing the form Commission believes that waiver of the provisions of 5 U.S.C. 552, will be
and content of quotations relating to operative delay is consistent with the available for Web site viewing and
securities sold otherwise than on a protection of investors and the public printing in the Commission’s Public
national securities exchange which may interest because such waiver will allow Reference Room, 100 F St. NE.,
be distributed or published by any the pilot program to continue without Washington, DC 20549, on official
member or person associated with a interruption. Therefore, the Commission business days between the hours of
member, and the persons to whom such designates the proposal operative upon 10:00 a.m. and 3:00 p.m. Copies of such
quotations may be supplied. filing.15 filing also will be available for
FINRA believes that the extension of At any time within 60 days of the inspection and copying at the principal
the Tier Size Pilot for an additional filing of the proposed rule change, the office of FINRA. All comments received
three months is consistent with the Act Commission summarily may will be posted without change; the
in that it would provide the temporarily suspend such rule change if Commission does not edit personal
Commission and FINRA with additional it appears to the Commission that such identifying information from
time to determine whether the pilot tiers action is necessary or appropriate in the submissions. You should submit only
should be made permanent. public interest, for the protection of information that you wish to make
investors, or otherwise in furtherance of available publicly. All submissions
B. Self-Regulatory Organization’s the purposes of the Act. If the should refer to File Number SR–FINRA–
Statement on Burden on Competition Commission takes such action, the 2015–002, and should be submitted on
FINRA does not believe that the Commission shall institute proceedings or before March 11, 2015.
proposed rule change will result in any to determine whether the proposed rule
should be approved or disapproved. For the Commission, by the Division of
burden on competition that is not Trading and Markets, pursuant to delegated
necessary or appropriate in furtherance IV. Solicitation of Comments authority.16
of the purposes of the Act. Brent J. Fields,
Interested persons are invited to
C. Self-Regulatory Organization’s submit written data, views, and Secretary.
Statement on Comments on the arguments concerning the foregoing, [FR Doc. 2015–03224 Filed 2–17–15; 8:45 am]
Proposed Rule Change Received From including whether the proposed rule BILLING CODE 8011–01–P
Members, Participants, or Others change is consistent with the Act.
Comments may be submitted by any of
Written comments were neither
the following methods: SECURITIES AND EXCHANGE
solicited nor received.
COMMISSION
Electronic Comments
III. Date of Effectiveness of the
Proposed Rule Change and Timing for • Use the Commission’s Internet [Release No. 34–74253; File No. SR–CBOE–
Commission Action comment form (http://www.sec.gov/ 2015–014)
rules/sro.shtml ); or
Because the foregoing proposed rule • Send an email to rule-comments@ Self-Regulatory Organizations;
change does not: (i) Significantly affect sec.gov. Please include File Number SR– Chicago Board Options Exchange,
the protection of investors or the public FINRA–2015–002 on the subject line. Incorporated; Notice of Filing and
interest; (ii) impose any significant
Paper Comments Immediate Effectiveness of a Proposed
burden on competition; and (iii) become
Rule Change To Amend the Fees
operative for 30 days from the date on • Send paper comments in triplicate Schedule
which it was filed, or such shorter time to Brent J. Fields, Secretary, Securities
as the Commission may designate, it has and Exchange Commission, 100 F Street February 11, 2015.
become effective pursuant to Section NE., Washington, DC 20549–1090. Pursuant to Section 19(b)(1) of the
19(b)(3)(A) of the Act 11 and Rule 19b– All submissions should refer to File Securities Exchange Act of 1934 (the
4(f)(6) thereunder.12 Number SR–FINRA–2015–002. This file ‘‘Act’’),1 and Rule 19b–4 thereunder,2
A proposed rule change filed under number should be included on the notice is hereby given that on February
Rule 19b–4(f)(6) 13 normally does not subject line if email is used. 2, 2015, Chicago Board Options
become operative prior to 30 days after To help the Commission process and Exchange, Incorporated (the ‘‘Exchange’’
the date of the filing. However, pursuant review your comments more efficiently, or ‘‘CBOE’’) filed with the Securities
please use only one method. The and Exchange Commission (the
10 15 U.S.C. 78o–3(b)(11). Commission will post all comments on ‘‘Commission’’) the proposed rule
11 15 U.S.C. 78s(b)(3)(A). the Commission’s Internet Web site
emcdonald on DSK67QTVN1PROD with NOTICES

12 17 CFR 240.19b–4(f)(6). Rule 19b–4(f)(6) change as described in Items I, II, and
(http://www.sec.gov/rules/sro.shtml ). III below, which Items have been
requires a self-regulatory organization to give the
Commission written notice of its intent to file the Copies of the submission, all subsequent prepared by the Exchange. The
proposed rule change at least five business days Commission is publishing this notice to
prior to the date of filing of the proposed rule 14 17CFR 240.19b–4(f)(6)(iii).
change, or such shorter time as designated by the 15 Forpurposes only of waiving the 30-day
16 17 CFR 200.30–3(a)(12).
Commission. The Exchange has satisfied this operative delay, the Commission has considered the
requirement. proposed rule’s impact on efficiency, competition, 1 15 U.S.C. 78s(b)(1).
13 17 CFR 240.19b–4(f)(6). and capital formation. See 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.

VerDate Sep<11>2014 19:32 Feb 17, 2015 Jkt 235001 PO 00000 Frm 00154 Fmt 4703 Sfmt 4703 E:\FR\FM\18FEN1.SGM 18FEN1

Federal Register / Vol. 80, No. 32 / Wednesday, February 18, 2015 / Notices 8743

solicit comments on the proposed rule References to ‘‘Underlying Symbol List first 15 login IDs (instead of the first 10).
change from interested persons. A’’ The Exchange expended significant
On December 1, 2014, the Exchange resources developing PULSe, and seeks
I. Self-Regulatory Organization’s to recoup more of those costs.
Statement of the Terms of Substance of revised its Fees Schedule to define a list
of certain proprietary products that is Finally, the Exchange seeks to remove
the Proposed Rule Change outdate [sic] language from the Notes
often collectively excluded or included
in various fees and fee programs.3 section of the PULSe fees table.
The Exchange proposes to amend its
Specifically, the Exchange adopted the Currently, the Notes section for both the
Fees Schedule. The text of the proposed TPH and non-TPH workstations fees
rule change is available on the term ‘‘Underlying Symbol List A’’ to
refer the following products: OEX, XEO, states that the fee is waived for the first
Exchange’s Web site (http:// month for the first new user of a TPH
www.cboe.com/AboutCBOE/ SPX (including SPXw), SPXpm, SRO,
VIX, VXST, VOLATILITY INDEXES and and non-TPH, respectively.
CBOELegalRegulatoryHome.aspx), at Additionally, the Notes section provides
the Exchange’s Office of the Secretary, binary options. Although a number of
references to these options were that the fee is waived for the first two
and at the Commission’s Public months for all new users between
Reference Room. replaced by the new term when first
adopted, the Exchange inadvertently did August 1, 2014 and December 31, 2014,
II. Self-Regulatory Organization’s not replace all references to this list and that the fee is waived for the month
with ‘‘Underlying Symbol List A.’’ In of August 2014 for all users that became
Statement of the Purpose of, and
order to maintain consistency through new users in July 2014. As the above
Statutory Basis for, the Proposed Rule
the Fees Schedule, the Exchange now referenced waiver periods have since
Change
seeks to replace all remaining references passed, the Exchange no longer believes
In its filing with the Commission, the to the abovementioned list of products this language is necessary to maintain in
Exchange included statements with the term ‘‘Underlying Symbol List the Fees Schedule. The Exchange notes
concerning the purpose of and basis for A.’’ that the fee will continue to be waived
the proposed rule change and discussed for the first month of the first new user
PULSe Workstation of a TPH or non-TPH.
any comments it received on the
proposed rule change. The text of these The Exchange proposes to make 2. Statutory Basis
statements may be examined at the certain amendments to the PULSe
Workstation (‘‘PULSe’’) fees. By way of The Exchange believes the proposed
places specified in Item IV below. The rule change is consistent with the
Exchange has prepared summaries, set background, the Exchange charges a fee
of $400 per month per Trading Permit Securities Exchange Act of 1934 (the
forth in sections A, B, and C below, of ‘‘Act’’) and the rules and regulations
the most significant aspects of such Holder (‘‘TPH’’) workstation for the first
10 users and $100 per month for all thereunder applicable to the Exchange
statements. and, in particular, the requirements of
subsequent users. TPHs may also make
A. Self-Regulatory Organization’s the functionality available to their Section 6(b) of the Act.4 Specifically,
Statement of the Purpose of, and customers, which may include non- the Exchange believes the proposed rule
Statutory Basis for, the Proposed Rule broker dealer public customers and non- change is consistent with the Section
Change TPH broker dealers (referred to herein as 6(b)(5) 5 requirements that the rules of
‘‘non-TPHs’’). For such non-TPH an exchange be designed to prevent
1. Purpose workstations, the Exchange charges a fee fraudulent and manipulative acts and
of $400 per month per workstation. practices, to promote just and equitable
The Exchange proposes to make a principles of trade, to foster cooperation
number of changes to its Fees Schedule, The Exchange first proposes to clarify
and make explicit that the PULSe fees and coordination with persons engaged
effective February 2, 2015. in regulating, clearing, settling,
are assessed on a ‘‘per login ID’’ basis.
Removal of Outdated References Currently, the Fees Schedule states that processing information with respect to,
the monthly fee for PULSe TPH and facilitation transactions in
First, the Exchange notes that it no workstations is ‘‘$400/month (per TPH securities, to remove impediments to
longer lists Credit Default Options or workstation for the first 10)’’ and ‘‘$100/ and perfect the mechanism of a free and
Credit Default Basket Options. As such, month (per each additional TPH open market and a national market
the Exchange proposes to delete from workstation)’’ and for PULSe non-TPH system, and, in general, to protect
the Fees Schedule all references to these workstations ‘‘$400/month (per non- investors and the public interest.
options, as such references are no longer TPH workstation).’’ The Exchange Additionally, the Exchange believes the
necessary and are obsolete. believes the current language, and the proposed rule change is consistent with
The Exchange also proposes to use of the term ‘‘workstation’’, may be Section 6(b)(4) of the Act,6 which
eliminate outdated references to confusing to market participants. As requires that Exchange rules provide for
‘‘CBSX.’’ On April 30, 2014, the CBOE such, the Exchange seeks to make clear the equitable allocation of reasonable
Stock Exchange (‘‘CBSX’’), formerly a in the Fees Schedule that the PULSe dues, fees, and other charges among its
fees are assessed per login Id [sic]. The Trading Permit Holders and other
stock trading facility of CBOE, ceased
Exchange notes that this proposed persons using its facilities.
trading operations. On August 7, 2014, In particular, the Exchange always
the status of any remaining CBSX change is merely a clarification and that
no substantive changes are being made strives for clarity in its rules and Fees
emcdonald on DSK67QTVN1PROD with NOTICES

Trading Permit Holders was terminated. Schedule, so that market participants
Accordingly, references to ‘‘CBSX’’ are to how PULSe fees are assessed.
Next, the Exchange proposes to may best understand how rules and fees
now obsolete and therefore unnecessary apply. The Exchange believes that the
provide that the $400 per month, per
to maintain in the Fees Schedule. The proposed clarifications and removal of
login ID fee will be applicable to the
Exchange proposes to remove all such
references to maintain clarity in the 3 See Securities Exchange Act Release No. 73832 4 15 U.S.C. 78f(b).
Fees Schedule and avoid potential (December 12, 2014), 79 FR 243 (December 18, 5 15 U.S.C. 78f(b)(5).
confusion. 2014) (SR–CBOE–2014–092). 6 15 U.S.C. 78f(b)(4).

VerDate Sep<11>2014 19:32 Feb 17, 2015 Jkt 235001 PO 00000 Frm 00155 Fmt 4703 Sfmt 4703 E:\FR\FM\18FEN1.SGM 18FEN1

8744 Federal Register / Vol. 80, No. 32 / Wednesday, February 18, 2015 / Notices

outdated language in the Fees Schedule 19b–4 8 thereunder. At any time within received will be posted without change;
will make the Fees Schedule easier to 60 days of the filing of the proposed rule the Commission does not edit personal
read and alleviate potential confusion. change, the Commission summarily may identifying information from
The alleviation of potential confusion temporarily suspend such rule change if submissions. You should submit only
will remove impediments to and perfect it appears to the Commission that such information that you wish to make
the mechanism of a free and open action is necessary or appropriate in the available publicly. All submissions
market and a national market system, public interest, for the protection of should refer to File Number SR–CBOE–
and, in general, protect investors and investors, or otherwise in furtherance of 2015–014 and should be submitted on
the public interest. the purposes of the Act. If the or before March 11, 2015.
The Exchange believes assessing the Commission takes such action, the
$400 per month, per login ID fee to the Commission will institute proceedings For the Commission, by the Division of
to determine whether the proposed rule Trading and Markets, pursuant to delegated
first 15 login IDs (instead of the first 10)
change should be approved or authority.9
is reasonable because the Exchange
expended significant resources disapproved. Brent J. Fields,
developing PULSe and desires to recoup IV. Solicitation of Comments Secretary.
more of those costs. The Exchange [FR Doc. 2015–03226 Filed 2–17–15; 8:45 am]
believes this proposed rule change is Interested persons are invited to
BILLING CODE 8011–01–P
equitable and not unfairly submit written data, views, and
discriminatory because all TPHs who arguments concerning the foregoing,
including whether the proposed rule
desire to use PULSe will be subject to SECURITIES AND EXCHANGE
change is consistent with the Act.
this change. COMMISSION
Comments may be submitted by any of
B. Self-Regulatory Organization’s the following methods:
Statement on Burden on Competition [Release No. 34–74258; File No. SR–
Electronic Comments NASDAQ–2015–008]
The Exchange does not believe that • Use the Commission’s Internet
the proposed rule change will impose comment form (http://www.sec.gov/ Self-Regulatory Organizations; The
any burden on competition that is not rules/sro.shtml ); or NASDAQ Stock Market LLC; Notice of
necessary or appropriate in furtherance • Send an email to rule-comments@ Filing and Immediate Effectiveness of
of the purposes of the Act. The sec.gov. Please include File Number SR– Proposed Rule Change To Modify
proposed changes to alleviate confusion CBOE–2015–014 on the subject line. NASDAQ Rule 7018 Fees
are not intended for competitive reasons
and only apply to CBOE. Additionally, Paper Comments February 11, 2015.
the Exchange does not believe the • Send paper comments in triplicate
Pursuant to Section 19(b)(1) of the
proposed change to assess the PULSe to Brent J. Fields, Secretary, Securities
login Id [sic] fee to the first 15 login Ids Securities Exchange Act of 1934
and Exchange Commission, 100 F Street
[sic] of a TPH will impose any burden NE., Washington, DC 20549–1090. (‘‘Act’’),1 and Rule 19b–4 thereunder,2
on intramarket competition that is not notice is hereby given that on February
All submissions should refer to File
necessary or appropriate in furtherance 2, 2015, The NASDAQ Stock Market
Number SR–CBOE-2015–014. This file
of the purposes of the Act because the number should be included on the LLC (‘‘NASDAQ’’ or the ‘‘Exchange’’)
proposed change applies to all Trading subject line if email is used. To help the filed with the Securities and Exchange
Permit Holders. The Exchange believes Commission process and review your Commission (‘‘Commission’’) a
this proposal will not cause an comments more efficiently, please use proposed rule change as described in
unnecessary burden on intermarket only one method. The Commission will Items I, II and III below, which Items
competition because the proposed post all comments on the Commission’s have been prepared by the Exchange.
change was not motivated by Internet Web site (http://www.sec.gov/ The Commission is publishing this
intermarket competition. To the extent rules/sro.shtml ). Copies of the notice to solicit comments on the
that the proposed changes make CBOE submission, all subsequent proposed rule change from interested
a more attractive marketplace for market amendments, all written statements persons.
participants at other exchanges, such with respect to the proposed rule
market participants are welcome to I. Self-Regulatory Organization’s
change that are filed with the
become CBOE market participants. Statement of the Terms of Substance of
Commission, and all written
communications relating to the the Proposed Rule Change
C. Self-Regulatory Organization’s
Statement on Comments on the proposed rule change between the NASDAQ is proposing to modify
Proposed Rule Change Received From Commission and any person, other than NASDAQ Rule 7018 fees assessed for
Members, Participants, or Others those that may be withheld from the execution and routing securities listed
public in accordance with the on NASDAQ, the New York Stock
The Exchange neither solicited nor provisions of 5 U.S.C. 552, will be
received comments on the proposed Exchange (‘‘NYSE’’) and on exchanges
available for Web site viewing and
rule change. other than NASDAQ and NYSE.
printing in the Commission’s Public
Reference Room, 100 F Street NE., The text of the proposed rule change
III. Date of Effectiveness of the
emcdonald on DSK67QTVN1PROD with NOTICES

Washington, DC 20549 on official is available at nasdaq.cchwallstreet.com
Proposed Rule Change and Timing for
Commission Action business days between the hours of at NASDAQ’s principal office, and at
10:00 a.m. and 3:00 p.m. Copies of the the Commission’s Public Reference
The foregoing rule change has become filing also will be available for Room.
effective pursuant to Section 19(b)(3)(A) inspection and copying at the principal
of the Act 7 and paragraph (f) of Rule office of the Exchange. All comments 9 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
7 15 U.S.C. 78s(b)(3)(A). 8 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4.

VerDate Sep<11>2014 19:32 Feb 17, 2015 Jkt 235001 PO 00000 Frm 00156 Fmt 4703 Sfmt 4703 E:\FR\FM\18FEN1.SGM 18FEN1

Document Created: 2018-02-16 11:10:35
Document Modified: 2018-02-16 11:10:35

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 8742