81_FR_2278 81 FR 2268 - Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7015

81 FR 2268 - Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7015

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 10 (January 15, 2016)

Page Range2268-2269
FR Document2016-00644

Federal Register, Volume 81 Issue 10 (Friday, January 15, 2016)
[Federal Register Volume 81, Number 10 (Friday, January 15, 2016)]
[Notices]
[Pages 2268-2269]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-00644]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76868; File No. SR-BX-2015-087]


Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change To Amend 
Rule 7015

January 11, 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 December 29, 2015, NASDAQ OMX BX, Inc. (``BX'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``SEC'' or 
``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 solicit comments on the 
proposed rule change 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 BX Rule 7015 to clarify the 
connectivity options and application of the fees assessed thereunder.
    The text of the proposed rule change is available on the Exchange's 
Web site at http://nasdaqomxbx.cchwallstreet.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 aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Rule 7015 provides the charges BX assesses for equity securities 
market connectivity to systems operated by BX. BX is amending Rule 7015 
in three ways: (1) To clarify the term ``port pair''; (2) to clarify 
the connectivity options available under the rule; and (3) to eliminate 
internet ports as a connectivity option.
    First, BX is proposing to clarify the use of the term ``port 
pair.'' For certain ports under Rule 7015 that are used for either 
trading or data, BX additionally provides a disaster recovery port at 
no cost. Such a disaster recovery port provides connectivity to BX's 
disaster recovery location in the event of a failure of BX's primary 
trading infrastructure. BX has provided disaster recovery ports at no 
cost since 2009 to encourage member firms to maintain such connectivity 
in the event of a market disruption so that the market as a whole could 
continue to operate. In the interest of clarity, the Exchange is 
proposing to eliminate the term port pair and to separately list 
disaster recovery ports as a connectivity option available at no cost 
under the rule.
    Second, BX is reorganizing and adding language to Rule 7015 to list 
all connectivity provided by BX under the rule, which is currently 
subsumed in a connectivity option and related fee. Specifically, the 
Exchange currently offers connectivity for $500 per port, per month for 
each port pair other than Multicast ITCH data feed pairs and TCP ITCH 
data feed pairs. Under the $500 per port, per month connectivity option 
a member firm may subscribe to an OUCH protocol trading port, a FIX 
Trading Port (either a FIX or FIX Lite protocol),\3\ RASH protocol 
trading port, and DROP ports. BX is listing separately each of the 
options available under the rule. BX also offers trading ports that may 
be used only in test mode. Member firms may subscribe to these test 
mode trading ports at no cost, which are exclusively used for testing 
purposes and may not be used for trading in securities in the System. 
The Exchange is adding rule text noting that these test ports may be 
subscribed to under the rule. The Exchange also provides data 
retransmission ports at no cost. Data retransmission ports allow a 
subscriber to replay market data, in the event the data was missed in a 
live feed or for verification purposes. Data retransmission ports only 
allow replay of the current trading day and do not provide data 
concerning prior trading days' data. The Exchange is adding rule text 
noting that data retransmission ports may be subscribed to under the 
rule.
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    \3\ A FIX port is a trading port using a FIX-based 
telecommunication protocol. FIX, an abbreviation for Financial 
Information eXchange, is a standard message protocol that defines an 
electronic message exchange for communicating securities 
transactions between two parties. BX offers two FIX-based trading 
ports, which vary based on messaging formats and capability. BX is 
proposing to list these two protocols as options under the rule that 
a member firm may select when subscribing to a FIX trading port.
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    Third, BX is proposing to eliminate Internet Ports. Internet ports 
are based on outdated technology and BX does not have any subscribers 
to this connectivity method.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
Section 6(b) of the Act,\4\ in general, and furthers the objectives of 
Sections 6(b)(4) and 6(b)(5) of the Act,\5\ in particular, in that it 
provides for the equitable allocation of reasonable dues, fees and 
other charges among members and issuers and other persons using any 
facility or system which BX operates or controls, and 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 regulating, clearing, settling, 
processing information with respect to, and facilitating transactions 
in securities, to

[[Page 2269]]

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; and are not designed to permit 
unfair discrimination between customers, issuers, brokers, or dealers.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4) and (5).
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    The Exchange believes that the clarifying changes to the rule 
protect investors and the public interest because they explicitly 
describe the fees assessed for all ports under the rule. Describing all 
services covered by the rule will serve to avoid investor confusion 
over the scope of what connectivity options are available, and the 
costs of such options. The Exchange notes that it is not adding new 
connectivity options or functionality, but is rather describing more 
specifically what is currently offered under the rule. In this regard, 
the Exchange is adding new rule text that describes all functionality 
available under each subparagraph of the rule and is reorganizing some 
rule text under the rule in an effort to make the rule clearer. The 
Exchange notes that much of the new text concerns testing ports and 
ports used in the event of a disaster or hardware failure. These ports 
help ensure that a fair and orderly market is maintained by allowing 
member firms to test their systems prior to connecting to the live 
trading environment and to provide backup connectivity in the event of 
a failure or disaster. Thus, the Exchange believes the proposed 
clarifying changes are consistent with the protection of investors and 
the public interest.
    The Exchange believes that the proposed deletion of the Internet 
Port connectivity option is reasonable, equitably allocated, and not 
unfairly discriminatory because there are no subscribers to this 
connectivity option, which is based on outdated means of connecting to 
the Exchange. As a consequence, no member firms will be impacted by 
deletion of the connectivity option. The Exchange notes that it is not 
altering the charges assessed for the remaining connectivity options 
under Rule 7015.

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. Specifically, BX is making 
clarifying changes to Rule 7015, which does not impose any burden on 
competition whatsoever. To the contrary, the proposed change 
facilitates competition by clarifying what connectivity options are 
provided by the Exchange, thereby informing other market venues a 
better understanding of what connectivity options are available for BX. 
With that better understanding, other market venues may improve 
existing connectivity options or offer new connectivity options to 
compete with BX. Accordingly, the proposed changes do not inhibit 
market participants' ability to compete among each other, nor do they 
impose any burden on competition among market venues, but rather may 
promote competition among market venues.

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

    Because the foregoing 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, it has become 
effective pursuant to Section 19(b)(3)(A)(ii) of the Act \6\ and 
subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ 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: (i) Necessary or appropriate in the 
public interest; (ii) for the protection of investors; or (iii) 
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.
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    \6\ 15 U.S.C. 78s(b)(3)(a)(ii).
    \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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.
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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-BX-2015-087 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-BX-2015-087. 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-BX-2015-087 and should be 
submitted on or before February 5, 2016.
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    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-00644 Filed 1-14-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                  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
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                                                                                                          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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                                                                                 Federal Register / Vol. 81, No. 10 / Friday, January 15, 2016 / Notices                                                     2269

                                                  remove impediments to and perfect the                   by the Exchange, thereby informing                        Electronic Comments
                                                  mechanism of a free and open market                     other market venues a better
                                                  and a national market system, and, in                   understanding of what connectivity                          • Use the Commission’s Internet
                                                  general, to protect investors and the                   options are available for BX. With that                   comment form (http://www.sec.gov/
                                                  public interest; and are not designed to                better understanding, other market                        rules/sro.shtml); or
                                                  permit unfair discrimination between                    venues may improve existing                                 • Send an email to rule-comments@
                                                  customers, issuers, brokers, or dealers.                connectivity options or offer new                         sec.gov. Please include File Number SR–
                                                     The Exchange believes that the                       connectivity options to compete with                      BX–2015–087 on the subject line.
                                                  clarifying changes to the rule protect                  BX. Accordingly, the proposed changes
                                                  investors and the public interest                       do not inhibit market participants’                       Paper Comments
                                                  because they explicitly describe the fees               ability to compete among each other,
                                                  assessed for all ports under the rule.                                                                              • Send paper comments in triplicate
                                                                                                          nor do they impose any burden on
                                                  Describing all services covered by the                                                                            to Secretary, Securities and Exchange
                                                                                                          competition among market venues, but
                                                  rule will serve to avoid investor                       rather may promote competition among                      Commission, 100 F Street NE.,
                                                  confusion over the scope of what                        market venues.                                            Washington, DC 20549–1090.
                                                  connectivity options are available, and                                                                           All submissions should refer to File
                                                  the costs of such options. The Exchange                 C. Self-Regulatory Organization’s
                                                                                                          Statement on Comments on the                              Number SR–BX–2015–087. This file
                                                  notes that it is not adding new
                                                                                                          Proposed Rule Change Received From                        number should be included on the
                                                  connectivity options or functionality,
                                                                                                          Members, Participants, or Others                          subject line if email is used. To help the
                                                  but is rather describing more
                                                  specifically what is currently offered                                                                            Commission process and review your
                                                                                                            No written comments were either                         comments more efficiently, please use
                                                  under the rule. In this regard, the
                                                                                                          solicited or received.                                    only one method. The Commission will
                                                  Exchange is adding new rule text that
                                                  describes all functionality available                   III. Date of Effectiveness of the                         post all comments on the Commission’s
                                                  under each subparagraph of the rule and                 Proposed Rule Change and Timing for                       Internet Web site (http://www.sec.gov/
                                                  is reorganizing some rule text under the                Commission Action                                         rules/sro.shtml). Copies of the
                                                  rule in an effort to make the rule clearer.                                                                       submission, all subsequent
                                                  The Exchange notes that much of the                        Because the foregoing proposed rule                    amendments, all written statements
                                                  new text concerns testing ports and                     change does not: (i) Significantly affect                 with respect to the proposed rule
                                                  ports used in the event of a disaster or                the protection of investors or the public                 change that are filed with the
                                                  hardware failure. These ports help                      interest; (ii) impose any significant                     Commission, and all written
                                                  ensure that a fair and orderly market is                burden on competition; and (iii) become                   communications relating to the
                                                  maintained by allowing member firms                     operative for 30 days from the date on                    proposed rule change between the
                                                  to test their systems prior to connecting               which it was filed, or such shorter time                  Commission and any person, other than
                                                  to the live trading environment and to                  as the Commission may designate, it has
                                                                                                                                                                    those that may be withheld from the
                                                  provide backup connectivity in the                      become effective pursuant to Section
                                                                                                                                                                    public in accordance with the
                                                  event of a failure or disaster. Thus, the               19(b)(3)(A)(ii) of the Act 6 and
                                                                                                                                                                    provisions of 5 U.S.C. 552, will be
                                                  Exchange believes the proposed                          subparagraph (f)(6) of Rule 19b–4
                                                                                                          thereunder.7 At any time within 60 days                   available for Web site viewing and
                                                  clarifying changes are consistent with
                                                                                                          of the filing of the proposed rule change,                printing in the Commission’s Public
                                                  the protection of investors and the
                                                                                                          the Commission summarily may                              Reference Room, 100 F Street NE.,
                                                  public interest.
                                                     The Exchange believes that the                       temporarily suspend such rule change if                   Washington, DC 20549, on official
                                                  proposed deletion of the Internet Port                  it appears to the Commission that such                    business days between the hours of
                                                  connectivity option is reasonable,                      action is: (i) Necessary or appropriate in                10:00 a.m. and 3:00 p.m. Copies of the
                                                  equitably allocated, and not unfairly                   the public interest; (ii) for the protection              filing also will be available for
                                                  discriminatory because there are no                     of investors; or (iii) otherwise in                       inspection and copying at the principal
                                                  subscribers to this connectivity option,                furtherance of the purposes of the Act.                   office of the Exchange. All comments
                                                  which is based on outdated means of                     If the Commission takes such action, the                  received will be posted without change;
                                                  connecting to the Exchange. As a                        Commission shall institute proceedings                    the Commission does not edit personal
                                                  consequence, no member firms will be                    to determine whether the proposed rule                    identifying information from
                                                  impacted by deletion of the connectivity                should be approved or disapproved.                        submissions. You should submit only
                                                  option. The Exchange notes that it is not                                                                         information that you wish to make
                                                                                                          IV. Solicitation of Comments
                                                  altering the charges assessed for the                                                                             available publicly. All submissions
                                                  remaining connectivity options under                      Interested persons are invited to                       should refer to File Number SR–BX–
                                                  Rule 7015.                                              submit written data, views, and                           2015–087 and should be submitted on
                                                  B. Self-Regulatory Organization’s                       arguments concerning the foregoing,                       or before February 5, 2016.
                                                  Statement on Burden on Competition                      including whether the proposed rule                         For the Commission, by the Division of
                                                                                                          change is consistent with the Act.                        Trading and Markets, pursuant to delegated
                                                    The Exchange does not believe that                    Comments may be submitted by any of
                                                  the proposed rule change will impose                                                                              authority.8
                                                                                                          the following methods:
                                                  any burden on competition that is not                                                                             Robert W. Errett,
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  necessary or appropriate in furtherance                   6 15                                                    Deputy Secretary.
                                                                                                                  U.S.C. 78s(b)(3)(a)(ii).
                                                  of the purposes of the Act. Specifically,                 7 17  CFR 240.19b–4(f)(6). In addition, Rule 19b–       [FR Doc. 2016–00644 Filed 1–14–16; 8:45 am]
                                                  BX is making clarifying changes to Rule                 4(f)(6) requires a self-regulatory organization to give   BILLING CODE 8011–01–P
                                                  7015, which does not impose any                         the Commission written notice of its intent to file
                                                  burden on competition whatsoever. To                    the proposed rule change at least five business days
                                                                                                          prior to the date of filing of the proposed rule
                                                  the contrary, the proposed change                       change, or such shorter time as designated by the
                                                  facilitates competition by clarifying                   Commission. The Exchange has satisfied this
                                                  what connectivity options are provided                  requirement.                                                8 17   CFR 200.30–3(a)(12).



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Document Created: 2018-02-02 12:32:06
Document Modified: 2018-02-02 12:32:06
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 2268 

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