81 FR 10945 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Controversial and Clerical Amendments to Its Rules

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 41 (March 2, 2016)

Page Range		10945-10946
FR Document		2016-04500
Federal Register, Volume 81 Issue 41 (Wednesday, March 2, 2016)
[Federal Register Volume 81, Number 41 (Wednesday, March 2, 2016)]
[Notices]
[Pages 10945-10946]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-04500]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77229; File No. SR-BOX-2016-10]


Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To Make 
Non-Controversial and Clerical Amendments to Its Rules

February 25, 2016.
    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 February 18, 2016, BOX Options Exchange LLC (the ``Exchange'') filed 
with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I and II below, which Items 
have been prepared by the self-regulatory organization. The Commission 
is publishing this notice to solicit comments on the proposed rule from 
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Rule 7310 (Drill-Through Protection) 
to make clerical corrections to the BOX Rulebook. 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 self-regulatory organization 
included statements concerning the purpose of, and basis for, the 
proposed rule change and discussed any comments it received on the 
proposed rule change. The text of these statements may be examined at 
the places specified in Item IV below. The self-regulatory organization 
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 purpose of the proposed rule change is to amend Rule 7310 
(Drill-Through Protection) to make clerical corrections to the BOX 
Rulebook.
    The Exchange proposes to amend Rule 7310 (Drill-Through Protection) 
to make clerical corrections. Specifically, in Rule 7310, regarding the 
Interpretive Materials, the Exchange proposes to replace the inaccurate 
numbering of the Interpretive Materials from ``IM-7300-1'' and ``IM-
7300-2'' to ``IM-7310-1'' and ``IM-7310-2'' respectively.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of Section 6(b) of the Act,\3\ in general, and Section 
6(b)(5) of the Act,\4\ in particular, that it is designed to promote 
just and equitable principles of trade, 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 it is appropriate to make these non-controversial and 
clerical corrections to its rules so that Exchange participants and 
investors have a clear and accurate understanding of the meaning of the 
Exchange's rules. By making clerical corrections, the Exchange is 
eliminating any potential for confusion by simplifying the Exchange 
Rules and ensuring that Participants, regulators and the public can 
more easily navigate the Exchange's Rulebook. The Exchange believes 
that the proposed rule change is not unfairly discriminatory because it 
treats all market participants equally and will not have an adverse 
impact on any market participant.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that this proposed rule change would 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. The proposed change is not 
designed to address any competitive issue but rather to correct 
clerical errors in BOX Rule 7310, thereby reducing confusion and making 
the Exchange's rules easier to understand and navigate. The Exchange 
believes that the proposed rule change will serve to promote regulatory 
clarity and consistency, thereby reducing burdens on the marketplace 
and facilitating investor protection.

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

    The Exchange has 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 Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \5\ and Rule 19b-4(f)(6) thereunder.\6\ 
Because the proposed rule change does not: (i) Significantly affect the 
protection of investors or the public interest; (ii) impose any 
significant burden on competition; and (iii) become operative prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A)

[[Page 10946]]

of the Act and Rule 19b-4(f)(6)(iii) thereunder.
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    \5\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \6\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written 
notice of its intent to file the proposed rule change, along with a 
brief description and the text of the proposed rule change, at least 
five business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission.
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    A proposed rule change filed under Rule 19b-4(f)(6) \7\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\8\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay to allow the 
Exchange to immediately reflect changes to the Exchange's rules which 
will eliminate any potential for confusion and provide clarity on how 
the rules apply. The Commission believes that waiving the 30-day 
operative delay is consistent with the protection of investors and the 
public interest. Therefore, the Commission hereby waives the operative 
delay and designates the proposed rule change operative upon filing.\9\
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    \7\ 17 CFR 240.19b-4(f)(6).
    \8\ 17 CFR 240.19b-4(f)(6)(iii).
    \9\ For purposes only of waiving the operative date of this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
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    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 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 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 Number SR-BOX-2016-10 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-2016-10. 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, on official 
business days between the hours of 10:00 a.m. and 3:00 p.m., located at 
100 F Street NE., Washington, DC 20549. 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-
2016-10 and should be submitted on or before March 23, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-04500 Filed 3-1-16; 8:45 am]
BILLING CODE 8011-01-P
Federal Register / Vol. 81, No. 41 / Wednesday, March 2, 2016 / Notices 10945

change that are filed with the I. Self-Regulatory Organization’s and accurate understanding of the
Commission, and all written Statement of the Terms of Substance of meaning of the Exchange’s rules. By
communications relating to the the Proposed Rule Change making clerical corrections, the
proposed rule change between the The Exchange proposes to amend Exchange is eliminating any potential
Commission and any person, other than Rule 7310 (Drill-Through Protection) to for confusion by simplifying the
those that may be withheld from the make clerical corrections to the BOX Exchange Rules and ensuring that
public in accordance with the Rulebook. The text of the proposed rule Participants, regulators and the public
provisions of 5 U.S.C. 552, will be change is available from the principal can more easily navigate the Exchange’s
available for Web site viewing and office of the Exchange, at the Rulebook. The Exchange believes that
printing in the Commission’s Public Commission’s Public Reference Room the proposed rule change is not unfairly
Reference Room, 100 F Street NE., and also on the Exchange’s Internet Web discriminatory because it treats all
Washington, DC 20549 on official market participants equally and will not
site at http://boxexchange.com.
business days between the hours of have an adverse impact on any market
10:00 a.m. and 3:00 p.m. Copies of the II. Self-Regulatory Organization’s participant.
filing also will be available for Statement of the Purpose of, and
B. Self-Regulatory Organization’s
inspection and copying at the principal Statutory Basis for, the Proposed Rule
Statement on Burden on Competition
office of the Exchange. All comments Change
The Exchange does not believe that
received will be posted without change; In its filing with the Commission, the
this proposed rule change would
the Commission does not edit personal self-regulatory organization included impose any burden on competition not
identifying information from statements concerning the purpose of, necessary or appropriate in furtherance
submissions. You should submit only and basis for, the proposed rule change of the purposes of the Act. The
information that you wish to make and discussed any comments it received proposed change is not designed to
available publicly. All submissions on the proposed rule change. The text address any competitive issue but rather
should refer to File Number SR– of these statements may be examined at to correct clerical errors in BOX Rule
NYSEArca–2016–30, and should be the places specified in Item IV below. 7310, thereby reducing confusion and
submitted on or before March 23, 2016. The self-regulatory organization has making the Exchange’s rules easier to
For the Commission, by the Division of prepared summaries, set forth in understand and navigate. The Exchange
Trading and Markets, pursuant to delegated Sections A, B, and C below, of the most believes that the proposed rule change
authority.16 significant aspects of such statements. will serve to promote regulatory clarity
Robert W. Errett, A. Self-Regulatory Organization’s and consistency, thereby reducing
Deputy Secretary. Statement of the Purpose of, and burdens on the marketplace and
Statutory Basis for, the Proposed Rule facilitating investor protection.
[FR Doc. 2016–04506 Filed 3–1–16; 8:45 am]
Change C. Self-Regulatory Organization’s
BILLING CODE 8011–01–P
1. Purpose Statement on Comments on the
Proposed Rule Change Received From
The purpose of the proposed rule Members, Participants, or Others
SECURITIES AND EXCHANGE change is to amend Rule 7310 (Drill-
COMMISSION Through Protection) to make clerical The Exchange has neither solicited
corrections to the BOX Rulebook. nor received comments on the proposed
[Release No. 34–77229; File No. SR–BOX– The Exchange proposes to amend rule change.
2016–10] Rule 7310 (Drill-Through Protection) to III. Date of Effectiveness of the
make clerical corrections. Specifically, Proposed Rule Change and Timing for
Self-Regulatory Organizations; BOX in Rule 7310, regarding the Interpretive Commission Action
Options Exchange LLC; Notice of Materials, the Exchange proposes to
Filing and Immediate Effectiveness of The Exchange has filed the proposed
replace the inaccurate numbering of the
a Proposed Rule Change To Make Non- rule change pursuant to Section
Interpretive Materials from ‘‘IM–7300–
Controversial and Clerical 19(b)(3)(A)(iii) of the Act 5 and Rule
1’’ and ‘‘IM–7300–2’’ to ‘‘IM–7310–1’’
Amendments to Its Rules 19b–4(f)(6) thereunder.6 Because the
and ‘‘IM–7310–2’’ respectively.
proposed rule change does not: (i)
February 25, 2016. 2. Statutory Basis Significantly affect the protection of
Pursuant to Section 19(b)(1) of the The Exchange believes that the investors or the public interest; (ii)
Securities Exchange Act of 1934 proposal is consistent with the impose any significant burden on
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 requirements of Section 6(b) of the Act,3 competition; and (iii) become operative
notice is hereby given that on February in general, and Section 6(b)(5) of the prior to 30 days from the date on which
18, 2016, BOX Options Exchange LLC Act,4 in particular, that it is designed to it was filed, or such shorter time as the
(the ‘‘Exchange’’) filed with the promote just and equitable principles of Commission may designate, if
Securities and Exchange Commission trade, remove impediments to and consistent with the protection of
(‘‘Commission’’) the proposed rule perfect the mechanism of a free and investors and the public interest, the
change as described in Items I and II open market and a national market proposed rule change has become
below, which Items have been prepared effective pursuant to Section 19(b)(3)(A)
system, and, in general protect investors
mstockstill on DSK4VPTVN1PROD with NOTICES

by the self-regulatory organization. The and the public interest. The Exchange 5 15 U.S.C. 78s(b)(3)(A)(iii).
Commission is publishing this notice to believes it is appropriate to make these 6 17 CFR 240.19b–4(f)(6). As required under Rule
solicit comments on the proposed rule non-controversial and clerical 19b–4(f)(6)(iii), the Exchange provided the
from interested persons. corrections to its rules so that Exchange Commission with written notice of its intent to file
participants and investors have a clear the proposed rule change, along with a brief
description and the text of the proposed rule
16 17 CFR 200.30–3(a)(12), (59). change, at least five business days prior to the date
1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78f(b). of filing of the proposed rule change, or such
2 17 CFR 240.19b–4. 4 15 U.S.C. 78f(b)(5). shorter time as designated by the Commission.

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10946 Federal Register / Vol. 81, No. 41 / Wednesday, March 2, 2016 / Notices

of the Act and Rule 19b–4(f)(6)(iii) subject line if email is used. To help the the proposed rule change as described
thereunder. Commission process and review your in Items I, II, and III below, which Items
A proposed rule change filed under comments more efficiently, please use have been prepared by the Exchange.
Rule 19b–4(f)(6) 7 normally does not only one method. The Commission will The Commission is publishing this
become operative prior to 30 days after post all comments on the Commission’s notice to solicit comments on the
the date of the filing. However, pursuant Internet Web site (http://www.sec.gov/ proposed rule change from interested
to Rule 19b–4(f)(6)(iii),8 the Commission rules/sro.shtml). Copies of the persons.
may designate a shorter time if such submission, all subsequent
action is consistent with the protection amendments, all written statements I. Self-Regulatory Organization’s
of investors and the public interest. The with respect to the proposed rule Statement of the Terms of Substance of
Exchange has asked the Commission to change that are filed with the the Proposed Rule Change
waive the 30-day operative delay to Commission, and all written Nasdaq is proposing changes to
allow the Exchange to immediately communications relating to the amend Nasdaq Rule 7018(a), governing
reflect changes to the Exchange’s rules proposed rule change between the fees and credits assessed for execution
which will eliminate any potential for Commission and any person, other than and routing of securities.
confusion and provide clarity on how those that may be withheld from the The text of the proposed rule change
the rules apply. The Commission public in accordance with the is available at nasdaq.cchwallstreet
believes that waiving the 30-day provisions of 5 U.S.C. 552, will be .com, at Nasdaq’s principal office, and
operative delay is consistent with the available for Web site viewing and at the Commission’s Public Reference
protection of investors and the public printing in the Commission’s Public Room.
interest. Therefore, the Commission Reference Room, on official business
hereby waives the operative delay and II. Self-Regulatory Organization’s
days between the hours of 10:00 a.m.
designates the proposed rule change Statement of the Purpose of, and
and 3:00 p.m., located at 100 F Street
operative upon filing.9 Statutory Basis for, the Proposed Rule
NE., Washington, DC 20549. Copies of
At any time within 60 days of the Change
such filing also will be available for
filing of the proposed rule change, the inspection and copying at the principal In its filing with the Commission,
Commission summarily may office of the Exchange. All comments Nasdaq included statements concerning
temporarily suspend such rule change if received will be posted without change; the purpose of, and basis for, the
it appears to the Commission that such the Commission does not edit personal proposed rule change and discussed any
action is necessary or appropriate in the identifying information from comments it received on the proposed
public interest, for the protection of submissions. You should submit only rule change. The text of those
investors, or otherwise in furtherance of information that you wish to make statements may be examined at the
the purposes of the Act. If the available publicly. All submissions places specified in Item IV below. The
Commission takes such action, the should refer to File Number SR–BOX– Exchange has prepared summaries, set
Commission shall institute proceedings 2016–10 and should be submitted on or forth in sections A, B, and C below, of
to determine whether the proposed rule before March 23, 2016. the most significant parts of such
should be approved or disapproved. For the Commission, by the Division of statements.
IV. Solicitation of Comments Trading and Markets, pursuant to delegated A. Self-Regulatory Organization’s
authority.10
Interested persons are invited to Statement of the Purpose of, and
Robert W. Errett, Statutory Basis for, the Proposed Rule
submit written data, views and Deputy Secretary.
arguments concerning the foregoing, Change
[FR Doc. 2016–04500 Filed 3–1–16; 8:45 am]
including whether the proposed rule 1. Purpose
BILLING CODE 8011–01–P
change is consistent with the Act.
The Exchange proposes to amend
Comments may be submitted by any of
Nasdaq Rule 7018(a), governing fees and
the following methods: SECURITIES AND EXCHANGE credits assessed for execution and
Electronic Comments COMMISSION routing of securities listed on Nasdaq,3
• Use the Commission’s Internet [Release No. 34–77239; File No. SR– listed on the New York Stock Exchange
comment form (http://www.sec.gov/ NASDAQ–2016–027] (‘‘NYSE’’) 4 and listed on exchanges
rules/sro.shtml); or other than Nasdaq and NYSE 5
• Send an email to rule-comments@ Self-Regulatory Organizations; The (collectively, the ‘‘Tapes’’).
sec.gov. Please include File Number SR– NASDAQ Stock Market LLC; Notice of Specifically, the purpose of the
BOX–2016–10 on the subject line. Filing and Immediate Effectiveness of proposed rule change is to indicate that
Proposed Rule Change To Amend Nasdaq will not charge a fee for the use
Paper Comments Nasdaq Rule 7018 of its recently approved routing option,
• Send paper comments in triplicate the Retail Order Process (‘‘RTFY’’),6
February 25, 2016.
to Secretary, Securities and Exchange regardless of where the execution
Commission, 100 F Street NE., Pursuant to Section 19(b)(1) of the occurs.7 The RTFY order routing option
Washington, DC 20549–1090. Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 2 thereunder, 3 Nasdaq Rule 7018(a)(1).
All submissions should refer to File notice is hereby given that, on February 4 Nasdaq Rule 7018(a)(2).
Number SR–BOX–2016–10. This file
mstockstill on DSK4VPTVN1PROD with NOTICES

22, 2016, The NASDAQ Stock Market 5 Nasdaq Rule 7018(a)(3).
number should be included on the LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed 6 See Securities Exchange Act Release No. 76335

with the Securities and Exchange (Nov. 3, 2015), 80 FR 69256 (Nov. 9, 2015) (SR–
7 17 CFR 240.19b–4(f)(6). NASDAQ–2015–112).
8 17 CFR 240.19b–4(f)(6)(iii).
Commission (‘‘SEC’’ or ‘‘Commission’’) 7 The Exchange proposed RTFY because retail
9 For purposes only of waiving the operative date order firms often send non-marketable order flow
10 17 CFR 200.30–3(a)(12).
of this proposal, the Commission has considered (i.e., orders that are not executable against the best
1 15 U.S.C. 78s(b)(1).
the proposed rule’s impact on efficiency, prices available in the market place based on their
competition, and capital formation. 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4. limit price) to post and display on exchanges. Some

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Document Created: 2018-02-02 15:04:25
Document Modified: 2018-02-02 15:04:25
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		81 FR 10945