81 FR 2266 - Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rules 27.1, Definitions, and 27.4, Temporary Rule Governing Phase-Out of P and P/A Orders
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 10 (January 15, 2016)
Federal Register Volume 81, Issue 10 (January 15, 2016)
| Page Range | 2266-2268 | |
| FR Document | 2016-00641 |
[Federal Register Volume 81, Number 10 (Friday, January 15, 2016)] [Notices] [Pages 2266-2268] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-00641] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76864; File No. SR-BATS-2015-122] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Rules 27.1, Definitions, and 27.4, Temporary Rule Governing Phase-Out of P and P/A Orders January 11, 2016. 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 28, 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 and II below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b- 4(f)(6)(iii) thereunder,\4\ which renders it 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). \4\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to authorize the BATS Options Market (``BATS Options'') to delete its rule entitled ``Temporary Rule Governing Phase-Out of P and P/A Orders'' and amend any references in the rules to the Plan for the Purpose of Creating and Operating an Intermarket Linkage (``Linkage Plan''). \5\ --------------------------------------------------------------------------- \5\ See Chapter XXVII, Intermarket Linkage Rules, Rule 27.4., Temporary Rule Governing Phase-Out of P and P/A Orders. --------------------------------------------------------------------------- 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. (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 eliminate existing references to the Linkage Plan and also replace any references to the Linkage Plan with references to the Options Order Protection and Locked/Crossed Market Plan (``Plan'') in order to clarify the current rules in effect. On February 4, 2010, the Exchange filed the Plan, joining all other approved options exchanges in adopting the Plan.\6\ The Plan required each options exchange to adopt rules implementing various requirements specified in the Plan. The Plan replaced the former Linkage Plan. The Linkage Plan required Participating Exchanges \7\ to operate a standalone system or ``Linkage'' for sending order-flow between exchanges to limit trade-throughs.\8\ The Options Clearing Corporation (``OCC'') operated the Linkage system (the ``System'').\9\ The Exchange adopted various rules in connection with the Plan to avoid trade- throughs and locked markets, among other things.\10\ The Exchange currently offers private routing directly to away markets. --------------------------------------------------------------------------- \6\ See Securities Exchange Act Release Nos. 61546 (February 19, 2010), 75 FR 8762 (February 25, 2010) (Notice of Filing and Immediate Effectiveness of Amendment to the Options Order Protection and Locked/Crossed Markets Plan to Add the BATS Exchange, Inc. as a Participant). \7\ The term ``Participating Exchanges'' refers to all options exchanges that had been approved to participate in the Linkage Plan. \8\ See footnote 6. \9\ See footnote 6. \10\ See footnote 6. --------------------------------------------------------------------------- The Exchange adopted a temporary rule entitled ``Temporary Rule Governing Phase-Out of P and P/A Orders'' (``Temporary Rule''),\11\ in order to facilitate the participation of certain Participating Exchanges who may require the use of Principal Acting as Agent Orders (``P/A Orders'') \12\ and [[Page 2267]] Principal Orders (``P'') \13\ after implementation of the Plan. Certain Participating Exchanges required a temporary transition period during which they continued to utilize these order types that existed under the Linkage Plan. The Exchange proposed substantially similar rules with that of the other Participating Exchanges to accommodate the possibility of continued use of P/A Orders and P Orders. At this time all Participating Exchanges have discontinued use of the Linkage Plan. The Exchange proposes at this time to delete this Temporary Rule because it is no longer necessary in light of the discontinued use of the Linkage Plan. Additionally, the Exchange proposes to amend Section 17, Definitions, in Chapter XXVII, Intermarket Linkage Rules, to redefine ``Plan'' to comport with the Plan. --------------------------------------------------------------------------- \11\ See Chapter XXVII, Intermarket Linkage Rules, Rule 27.4, ``Temporary Rule Governing Phase-Out of P and P/A Orders''. \12\ A P/A Order is an order for the principal account of a Primary Market Maker (or equivalent entity on another Eligible Exchange that is authorized to represent Public Customer orders), reflecting the terms of a related unexecuted Public Customer order for which the Primary Market Maker is acting as agent. See Chapter XXVII, Rule 27.4(d)(4)(A). \13\ A Principal Order is an order for the principal account of a market maker (or equivalent entity on another Eligible Exchange) and is not a P/A Order. See Chapter XXVII, Rule 27.4(d)(4)(B). --------------------------------------------------------------------------- In addition to the changes set forth above, the Exchange proposes to add the letter ``(a)'' to Rule 27.1 to conform with the typical numbering used in Exchange rules. 2. Statutory Basis The Exchange believes that its proposal is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b) of the Act.\14\ In particular, the proposal is consistent with Section 6(b)(5) of the Act \15\ because it is 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 facilitating transactions in securities, to remove impediments to, and perfect the mechanism of, a free and open market and a national market system and, in general, to protect investors and the public interest by proposing the elimination of the Temporary Rule, which reflects usage of the former Linkage Plan that has been replaced by the Plan. The Exchange believes that elimination of the reference to the Temporary Rule will help to avoid potential confusion by Members and other market participants because the Linkage Plan is and has been in full effect for some time, and, therefore, the Temporary Rule is outdated and unnecessary. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b). \15\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- (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 proposal will simply eliminate the Temporary Rule, which is outdated and no longer necessary for the reasons described above. Accordingly, the Exchange does not believe that the proposal has any competitive effect. (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 written comments from members or other interested parties. 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 \16\ and Rule 19b-4(f)(6) thereunder.\17\ 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 for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6) thereunder.\18\ --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A)(iii). \17\ 17 CFR 240.19b-4(f)(6). \18\ In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and 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. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative for 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) permits the Commission to 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 so that the Exchange may eliminate its Temporary Rule, which has been replaced by the Plan. The Commission believes that removal of the obsolete rule could avoid potential confusion by Members and other market participants. Based on the foregoing, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest.\19\ The Commission hereby grants the Exchange's request and designates the proposal operative upon filing. --------------------------------------------------------------------------- \19\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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 CommentsUse 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 No. SR-BATS-2015-122 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-2015-122. 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 [[Page 2268]] 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-2015-122 and should be submitted on or before February 5, 2016. --------------------------------------------------------------------------- \20\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\20\ Robert W. Errett, Deputy Secretary. [FR Doc. 2016-00641 Filed 1-14-16; 8:45 am] BILLING CODE 8011-01-P
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Comments may be submitted by any of SECURITIES AND EXCHANGE proposed rule change. The text of these
the following methods: COMMISSION statements may be examined at the
places specified in Item IV below. The
Electronic Comments [Release No. 34–76864; File No. SR–BATS–
Exchange has prepared summaries, set
2015–122]
• Use the Commission’s Internet forth in Sections A, B, and C below, of
comment form (http://www.sec.gov/ Self-Regulatory Organizations; BATS the most significant parts of such
rules/sro.shtml); or Exchange, Inc.; Notice of Filing and statements.
Immediate Effectiveness of a Proposed (A) Self-Regulatory Organization’s
• Send an email to rule-comments@ Rule Change to Rules 27.1, Definitions,
sec.gov. Please include File Number SR– Statement of the Purpose of, and
and 27.4, Temporary Rule Governing Statutory Basis for, the Proposed Rule
NYSE–2016–06 on the subject line. Phase-Out of P and P/A Orders Change
Paper Comments January 11, 2016. 1. Purpose
• Send paper comments in triplicate Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the The purpose of the proposed rule
to Secretary, Securities and Exchange change is to eliminate existing
‘‘Act’’),1 and Rule 19b–4 thereunder,2
Commission, 100 F Street NE., references to the Linkage Plan and also
notice is hereby given that on December
Washington, DC 20549–1090. replace any references to the Linkage
28, 2015, BATS Exchange, Inc. (the
All submissions should refer to File ‘‘Exchange’’ or ‘‘BATS’’) filed with the Plan with references to the Options
Number SR–NYSE–2016–06. This file Securities and Exchange Commission Order Protection and Locked/Crossed
number should be included on the (‘‘Commission’’) the proposed rule Market Plan (‘‘Plan’’) in order to clarify
subject line if email is used. To help the change as described in Items I and II the current rules in effect.
Commission process and review your below, which Items have been prepared On February 4, 2010, the Exchange
comments more efficiently, please use by the Exchange. The Exchange has filed the Plan, joining all other approved
only one method. The Commission will designated this proposal as a ‘‘non- options exchanges in adopting the
post all comments on the Commission’s controversial’’ proposed rule change Plan.6 The Plan required each options
pursuant to Section 19(b)(3)(A) of the exchange to adopt rules implementing
Internet Web site (http://www.sec.gov/
Act 3 and Rule 19b–4(f)(6)(iii) various requirements specified in the
rules/sro.shtml). Copies of the
thereunder,4 which renders it effective Plan. The Plan replaced the former
submission, all subsequent upon filing with the Commission. The Linkage Plan. The Linkage Plan required
amendments, all written statements Commission is publishing this notice to Participating Exchanges 7 to operate a
with respect to the proposed rule solicit comments on the proposed rule standalone system or ‘‘Linkage’’ for
change that are filed with the change from interested persons. sending order-flow between exchanges
Commission, and all written to limit trade-throughs.8 The Options
communications relating to the I. Self-Regulatory Organization’s
Statement of the Terms of Substance of Clearing Corporation (‘‘OCC’’) operated
proposed rule change between the the Linkage system (the ‘‘System’’).9 The
Commission and any person, other than the Proposed Rule Change
Exchange adopted various rules in
those that may be withheld from the The Exchange filed a proposal to connection with the Plan to avoid trade-
public in accordance with the authorize the BATS Options Market throughs and locked markets, among
provisions of 5 U.S.C. 552, will be (‘‘BATS Options’’) to delete its rule other things.10 The Exchange currently
available for Web site viewing and entitled ‘‘Temporary Rule Governing offers private routing directly to away
printing in the Commission’s Public Phase-Out of P and P/A Orders’’ and markets.
Reference Room, 100 F Street NE., amend any references in the rules to the The Exchange adopted a temporary
Washington, DC 20549 on official Plan for the Purpose of Creating and rule entitled ‘‘Temporary Rule
business days between the hours of Operating an Intermarket Linkage Governing Phase-Out of P and P/A
10:00 a.m. and 3:00 p.m. Copies of the (‘‘Linkage Plan’’). 5 Orders’’ (‘‘Temporary Rule’’),11 in order
The text of the proposed rule change
filing also will be available for to facilitate the participation of certain
is available at the Exchange’s Web site
inspection and copying at the principal Participating Exchanges who may
at www.batstrading.com, at the
offices of the Exchange. All comments require the use of Principal Acting as
principal office of the Exchange, and at
received will be posted without change; Agent Orders (‘‘P/A Orders’’) 12 and
the Commission’s Public Reference
the Commission does not edit personal Room. 6 See Securities Exchange Act Release Nos. 61546
identifying information from (February 19, 2010), 75 FR 8762 (February 25, 2010)
submissions. You should submit only II. Self-Regulatory Organization’s
(Notice of Filing and Immediate Effectiveness of
information that you wish to make Statement of the Purpose of, and Amendment to the Options Order Protection and
available publicly. All submissions Statutory Basis for, the Proposed Rule Locked/Crossed Markets Plan to Add the BATS
should refer to File Number SR–NYSE– Change Exchange, Inc. as a Participant).
7 The term ‘‘Participating Exchanges’’ refers to all
2016–06, and should be submitted on or In its filing with the Commission, the options exchanges that had been approved to
before February 5, 2016. Exchange included statements participate in the Linkage Plan.
concerning the purpose of and basis for 8 See footnote 6.
For the Commission, by the Division of 9 See footnote 6.
Trading and Markets, pursuant to delegated
the proposed rule change and discussed
10 See footnote 6.
any comments it received on the
mstockstill on DSK4VPTVN1PROD with NOTICES
authority.9 11 See Chapter XXVII, Intermarket Linkage Rules,
Robert W. Errett, 1 15
Rule 27.4, ‘‘Temporary Rule Governing Phase-Out
U.S.C. 78s(b)(1). of P and P/A Orders’’.
Deputy Secretary. 2 17 CFR 240.19b–4. 12 A P/A Order is an order for the principal
3 15 U.S.C. 78s(b)(3)(A).
[FR Doc. 2016–00642 Filed 1–14–16; 8:45 am] account of a Primary Market Maker (or equivalent
4 17 CFR 240.19b–4(f)(6)(iii).
BILLING CODE 8011–01–P
entity on another Eligible Exchange that is
5 See Chapter XXVII, Intermarket Linkage Rules, authorized to represent Public Customer orders),
Rule 27.4., Temporary Rule Governing Phase-Out of reflecting the terms of a related unexecuted Public
9 17 CFR 200.30–3(a)(12). P and P/A Orders. Customer order for which the Primary Market
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![2268 Federal Register / Vol. 81, No. 10 / Friday, January 15, 2016 / Notices
proposed rule change between the options and application of the fees month for each port pair other than
Commission and any person, other than assessed thereunder. Multicast ITCH data feed pairs and TCP
those that may be withheld from the The text of the proposed rule change ITCH data feed pairs. Under the $500
public in accordance with the is available on the Exchange’s Web site per port, per month connectivity option
provisions of 5 U.S.C. 552, will be at http:// a member firm may subscribe to an
available for Web site viewing and nasdaqomxbx.cchwallstreet.com, at the OUCH protocol trading port, a FIX
printing in the Commission’s Public principal office of the Exchange, and at Trading Port (either a FIX or FIX Lite
Reference Room, 100 F Street NE., the Commission’s Public Reference protocol),3 RASH protocol trading port,
Washington, DC 20549, on official Room. and DROP ports. BX is listing separately
business days between the hours of each of the options available under the
II. Self-Regulatory Organization’s rule. BX also offers trading ports that
10:00 a.m. and 3:00 p.m. Copies of such
Statement of the Purpose of, and may be used only in test mode. Member
filing will also be available for
Statutory Basis for, the Proposed Rule firms may subscribe to these test mode
inspection and copying at the principal
Change trading ports at no cost, which are
office of the Exchange. All comments
received will be posted without change; In its filing with the Commission, the exclusively used for testing purposes
the Commission does not edit personal Exchange included statements and may not be used for trading in
identifying information from concerning the purpose of and basis for securities in the System. The Exchange
submissions. You should submit only the proposed rule change and discussed is adding rule text noting that these test
information that you wish to make any comments it received on the ports may be subscribed to under the
available publicly. All submissions proposed rule change. The text of these rule. The Exchange also provides data
should refer to File No. SR–BATS– statements may be examined at the retransmission ports at no cost. Data
2015–122 and should be submitted on places specified in Item IV below. The retransmission ports allow a subscriber
or before February 5,2016. Exchange has prepared summaries, set to replay market data, in the event the
forth in sections A, B, and C below, of data was missed in a live feed or for
For the Commission, by the Division of
Trading and Markets, pursuant to delegated the most significant aspects of such verification purposes. Data
authority.20 statements. retransmission ports only allow replay
of the current trading day and do not
Robert W. Errett, A. Self-Regulatory Organization’s provide data concerning prior trading
Deputy Secretary. Statement of the Purpose of, and days’ data. The Exchange is adding rule
[FR Doc. 2016–00641 Filed 1–14–16; 8:45 am] Statutory Basis for, the Proposed Rule text noting that data retransmission
BILLING CODE 8011–01–P Change ports may be subscribed to under the
1. Purpose rule.
Third, BX is proposing to eliminate
SECURITIES AND EXCHANGE Rule 7015 provides the charges BX Internet Ports. Internet ports are based
COMMISSION assesses for equity securities market on outdated technology and BX does not
connectivity to systems operated by BX. have any subscribers to this
[Release No. 34–76868; File No. SR–BX– BX is amending Rule 7015 in three
2015–087] connectivity method.
ways: (1) To clarify the term ‘‘port pair’’;
(2) to clarify the connectivity options 2. Statutory Basis
Self-Regulatory Organizations;
available under the rule; and (3) to The Exchange believes the proposed
NASDAQ OMX BX, Inc.; Notice of Filing
eliminate internet ports as a rule change is consistent with Section
and Immediate Effectiveness of
connectivity option. 6(b) of the Act,4 in general, and furthers
Proposed Rule Change To Amend Rule
First, BX is proposing to clarify the the objectives of Sections 6(b)(4) and
7015
use of the term ‘‘port pair.’’ For certain 6(b)(5) of the Act,5 in particular, in that
January 11, 2016. ports under Rule 7015 that are used for it provides for the equitable allocation
Pursuant to Section 19(b)(1) of the either trading or data, BX additionally of reasonable dues, fees and other
Securities Exchange Act of 1934 provides a disaster recovery port at no charges among members and issuers and
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 cost. Such a disaster recovery port other persons using any facility or
notice is hereby given that on December provides connectivity to BX’s disaster system which BX operates or controls,
29, 2015, NASDAQ OMX BX, Inc. (‘‘BX’’ recovery location in the event of a and is designed to prevent fraudulent
or ‘‘Exchange’’) filed with the Securities failure of BX’s primary trading and manipulative acts and practices, to
and Exchange Commission (‘‘SEC’’ or infrastructure. BX has provided disaster promote just and equitable principles of
‘‘Commission’’) the proposed rule recovery ports at no cost since 2009 to trade, to foster cooperation and
change as described in Items I, II, and encourage member firms to maintain coordination with persons engaged in
III, below, which Items have been such connectivity in the event of a regulating, clearing, settling, processing
prepared by the Exchange. The market disruption so that the market as information with respect to, and
Commission is publishing this notice to a whole could continue to operate. In facilitating transactions in securities, to
solicit comments on the proposed rule the interest of clarity, the Exchange is
change from interested persons. proposing to eliminate the term port 3 A FIX port is a trading port using a FIX-based
pair and to separately list disaster telecommunication protocol. FIX, an abbreviation
I. Self-Regulatory Organization’s recovery ports as a connectivity option for Financial Information eXchange, is a standard
Statement of the Terms of Substance of message protocol that defines an electronic message
mstockstill on DSK4VPTVN1PROD with NOTICES
available at no cost under the rule. exchange for communicating securities transactions
the Proposed Rule Change Second, BX is reorganizing and between two parties. BX offers two FIX-based
The Exchange proposes to amend BX adding language to Rule 7015 to list all trading ports, which vary based on messaging
Rule 7015 to clarify the connectivity connectivity provided by BX under the formats and capability. BX is proposing to list these
two protocols as options under the rule that a
rule, which is currently subsumed in a member firm may select when subscribing to a FIX
20 17 CFR 200.30–3(a)(12). connectivity option and related fee. trading port.
1 15 U.S.C. 78s(b)(1). Specifically, the Exchange currently 4 15 U.S.C. 78f(b).
2 17 CFR 240.19b–4. offers connectivity for $500 per port, per 5 15 U.S.C. 78f(b)(4) and (5).
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Document Created: 2018-02-02 12:32:00
Document Modified: 2018-02-02 12:32:00
| 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 | 81 FR 2266 |
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