81 FR 23771 - Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Exchange Rule 14.10 Setting Forth Additional Requirements for the Listing of Securities That Are Issued by the Exchange or Any of Its Affiliates
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 78 (April 22, 2016)
Federal Register Volume 81, Issue 78 (April 22, 2016)
| Page Range | 23771-23773 | |
| FR Document | 2016-09319 |
[Federal Register Volume 81, Number 78 (Friday, April 22, 2016)] [Notices] [Pages 23771-23773] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-09319] [[Page 23771]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77638; File No. SR-BatsBYX-2016-05] Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Exchange Rule 14.10 Setting Forth Additional Requirements for the Listing of Securities That Are Issued by the Exchange or Any of Its Affiliates April 18, 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 April 13, 2016, Bats BYX Exchange, Inc. (the ``Exchange'' or ``BYX'') 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 is proposing a rule change to adopt Exchange Rule 14.10 setting forth additional requirements for the listing of securities that are issued by the Exchange or any of its affiliates as well as the monitoring of such securities' trading activity on the Exchange. Proposed Rule 14.10 is based on Bats BZX Exchange, Inc. (``BZX'') Rule 14.3(e), which was recently amended and filed for immediate effectiveness with the Commission.\5\ --------------------------------------------------------------------------- \5\ See SR-BatsBZX-2016-08 (filed for immediate effectiveness on April 13, 2016). See also Securities Exchange Act Release No. 66580 (March 13, 2012), 77 FR 16110 (March 19, 2012) (SR-BATS-2012-012). --------------------------------------------------------------------------- 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 Exchange is proposing to adopt Rule 14.10 setting forth reporting requirements on the Exchange should the Exchange or BYX Affiliate list a security on the Exchange (the ``Affiliate Security''). Proposed Rule 14.10(a)(1) would define ``BYX Affiliate'' as ``the Exchange and any entity that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with the Exchange, where ``control'' means that one entity possesses, directly or indirectly, voting control of the other entity either through ownership of capital stock or other equity securities or through majority representation on the board of directors or other management body of such entity.'' Proposed Rule 14.10(a)(2) would define ``Affiliate Security'' as ``any security issued by a BYX Affiliate or any Exchange-listed option on any such security, with the exception of Portfolio Depositary Receipts as defined in Rule 14.8(d) and Investment Company Units as defined in Rule 14.2.'' \6\ --------------------------------------------------------------------------- \6\ The Exchange notes that BZX Rule 14.3(e)(1)(B) excludes Index Fund Shares as defined under BZX Rule 14.11(c). The Exchange rules do not currently define Index Fund Shares. Therefore, the Exchange proposes to exclude Investment Company Unit as defined under Exchange Rule 14.2 as it believes Investment Company Units to be synonymous with Index Fund Shares. --------------------------------------------------------------------------- In the event that a BYX Affiliate seeks to list an Affiliate Security, paragraph (b)(1) of proposed Rule 14.10 would require that prior to the initial listing of the Affiliate Security on the Exchange, Exchange personnel shall determine that such security satisfies the Exchange's rules for listing, and such finding must be approved by the Regulatory Oversight Committee of the Exchange's Board of Directors. Proposed paragraph (b)(2) of proposed Rule 14.10 would state that throughout the continued listing of the Affiliate Security on the Exchange, the Exchange will prepare a quarterly report for the Regulatory Oversight Committee of the Exchange's Board of Directors and that such report describe the Exchange's monitoring of the Affiliate Security's compliance with the Exchange's listing standards. Sub- paragraph (A) of proposed Rule 14.10(b)(2) would require the report include a description of the Affiliate Security's compliance with the Exchange's minimum share price requirement, and, sub-paragraph (B) would require the report to describe the Affiliate Security's compliance with each of the quantitative continued listing requirements. Sub-paragraph (3) of proposed Rule 14.10(b) would require the Exchange to commission an annual review and report by an independent accounting firm of the compliance of the Affiliate Security with the Exchange's listing requirements. The Exchange would be required to promptly furnish a copy of this annual report to the Regulatory Oversight Committee of the Exchange's Board of Directors. Sub-paragraph (4) of proposed Rule 14.10(b) would state that in the event the Exchange determines that the BYX Affiliate is not in compliance with any of the Exchange's listing standards, the Exchange is required to notify the issuer of such non-compliance promptly and request a plan of compliance. The Exchange would also be required to file a report with the Commission within five business days of providing such notice to the issuer of its non-compliance. The required report would identify the date of the non-compliance, type of non- compliance, and any other material information conveyed to the issuer in the notice of non-compliance. Within five business days of receipt of a plan of compliance from the issuer, the Exchange would again be required to notify the Commission of such receipt, whether the plan of compliance was accepted by the Exchange or what other action was taken with respect to the plan and the time period provided to regain compliance with the Exchange's listing standards, if any. Sub-paragraph (c) of proposed Rule 14.10 would require that throughout the trading of an Affiliate Security on the Exchange, the Exchange prepare a quarterly report on the Affiliate Security for the Regulatory Oversight Committee of the Exchange's Board of Directors that describes the Exchange's monitoring of the trading of the Affiliate Security, including summaries of all related surveillance alerts, complaints, [[Page 23772]] regulatory referrals, trades cancelled or adjusted pursuant to Exchange Rules, investigations, examinations, formal and informal disciplinary actions, exception reports and trading data used to ensure the Affiliate Security's compliance with the Exchange's listing and trading rules. Lastly, paragraph (d) of proposed Rule 14.10 would require the Exchange to promptly provide a copy of the reports required by sub- paragraphs (b) and (c) described above to the Commission. The listing of an Affiliate Security or where an Affiliate Security is traded on the Exchange could potentially create a conflict of interest between the Exchange's self-regulatory responsibility to vigorously oversee the listing and trading of the stock on its market, and its own commercial or economic interests. Such ``self-listing'' may raise questions as to the Exchange's ability to independently and effectively enforce its rules against an affiliate or the operator/ owner of its facility. In addition, such listing has the potential to exacerbate possible conflicts that may arise when the Exchange oversees competitors that may also be listed or traded on the Exchange. The Exchange believes that the proposed rule change, by requiring heightened reporting by the Exchange to the Regulatory Oversight Committee of the Exchange's Board of Directors and the Commission with respect to the Exchange's oversight of the listing and trading on the Exchange of any BYX Affiliate Security, will help protect against any concern that the Exchange will not effectively enforce its rules with respect to the listing and trading of these securities. In addition, the requirements that an independent accounting firm review such issuer's compliance with the Exchange's listing standards adds a degree of independent oversight to the Exchange's regulation of the listing of these securities and should help mitigate against any potential or actual conflicts of interest. The Exchange also believes that these additional requirements contained in the proposed rule change would provide additional assurance that any Affiliate Securities listed and traded on the Exchange by a BYX Affiliate comply with the Exchange's listing standards and trading rules on an on-going basis. Finally, the Exchange believes that the proposed rule change would eliminate any perception of a potential conflict of interest if a BYX Affiliate seeks to list a security on the Exchange or if an Affiliate Security is traded on the Exchange. 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.\7\ Specifically, the proposed change is consistent with Section 6(b)(5) of the Act,\8\ 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, and to remove impediments to, and perfect the mechanism of, a free and open market and a national market system. Specifically, the Exchange believes that the proposed rule change, by requiring heightened reporting by the Exchange to the Regulatory Oversight Committee of the Exchange's Board of Directors and the Commission with respect to oversight of the listing and trading on the Exchange of Affiliate Securities, will help protect against concerns that the Exchange will not effectively enforce its rules with respect to the listing and trading of these securities. In addition, the requirement that an independent accounting firm review such issuer's compliance with the Exchange's listing standards adds a degree of independent oversight to the Exchange's regulation of the listing of these securities, which may mitigate any potential or actual conflicts of interest. Further, the additional requirements contained in the proposed rule change would help to provide additional assurance: (i) That any Affiliate Securities listed on the Exchange by a BYX Affiliate comply with the Exchange's listing standards both upon the initial listing of the BYX Affiliate and on an on-going basis; and (ii) regarding the Exchange's monitoring of the trading of the Affiliate Security traded on the Exchange. The Exchange believes that the proposed rule change would eliminate any perception of a potential conflict of interest if a BYX Affiliate seeks to list a security on the Exchange and where an Affiliate Security is traded on the Exchange. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 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 proposed rule change is not designed to address any competitive issues, but rather set forth the Exchange's controls that are in place to address the potential conflicts of interest that may arise in the listing of Affiliate Securities on the Exchange. (C) Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. 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 \9\ and Rule 19b-4(f)(6) thereunder.\10\ 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, 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) of the Act \11\ and Rule 19b- 4(f)(6) thereunder.\12\ --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A)(iii). \10\ 17 CFR 240.19b-4(f)(6). \11\ 15 U.S.C. 78s(b)(3)(A). \12\ 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) under the Act \13\ normally does not become operative for 30 days after the date of filing. However, Rule 19b-4(f)(6)(iii) \14\ 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 proposal may become operative immediately upon filing. The Exchange states that waiver of the operative delay will allow the Exchange to implement the proposed rule change immediately in the event an Affiliate seeks to list on the Exchange or an Affiliate Security is traded on the Exchange. The Exchange further states that providing the reports required by the rule is in the best interest of investors and the public interest because it would provide greater transparency to market participants [[Page 23773]] regarding the controls in place to address the potential conflicts of interest that may arise in the listing and trading of Affiliate Securities on the Exchange. 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.\15\ The Commission hereby grants the Exchange's request and designates the proposal operative upon filing. --------------------------------------------------------------------------- \13\ 17 CFR 240.19b-4(f)(6). \14\ 17 CFR 240.19b-4(f)(6)(iii). \15\ 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 [email protected]. Please include File Number SR&BatsBYX-2016-05 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-BatsBYX-2016-05. 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-BatsBYX-2016-05 and should be submitted on or before May 13, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\16\ --------------------------------------------------------------------------- \16\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-09319 Filed 4-21-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices 23771
SECURITIES AND EXCHANGE II. Self-Regulatory Organization’s Proposed paragraph (b)(2) of proposed
COMMISSION Statement of the Purpose of, and Rule 14.10 would state that throughout
Statutory Basis for, the Proposed Rule the continued listing of the Affiliate
[Release No. 34–77638; File No. SR- Change Security on the Exchange, the Exchange
BatsBYX–2016–05] In its filing with the Commission, the will prepare a quarterly report for the
Exchange included statements Regulatory Oversight Committee of the
Self-Regulatory Organizations; Bats concerning the purpose of and basis for Exchange’s Board of Directors and that
BYX Exchange, Inc.; Notice of Filing the proposed rule change and discussed such report describe the Exchange’s
and Immediate Effectiveness of a any comments it received on the monitoring of the Affiliate Security’s
Proposed Rule Change To Adopt proposed rule change. The text of these compliance with the Exchange’s listing
Exchange Rule 14.10 Setting Forth statements may be examined at the standards. Sub-paragraph (A) of
Additional Requirements for the proposed Rule 14.10(b)(2) would require
places specified in Item IV below. The
Listing of Securities That Are Issued the report include a description of the
Exchange has prepared summaries, set
by the Exchange or Any of Its Affiliates Affiliate Security’s compliance with the
forth in Sections A, B, and C below, of
Exchange’s minimum share price
the most significant parts of such
April 18, 2016. requirement, and, sub-paragraph (B)
statements.
would require the report to describe the
Pursuant to Section 19(b)(1) of the Affiliate Security’s compliance with
(A) Self-Regulatory Organization’s
Securities Exchange Act of 1934 (the each of the quantitative continued
Statement of the Purpose of, and
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Statutory Basis for, the Proposed Rule listing requirements.
notice is hereby given that on April 13, Change Sub-paragraph (3) of proposed Rule
2016, Bats BYX Exchange, Inc. (the 14.10(b) would require the Exchange to
‘‘Exchange’’ or ‘‘BYX’’) filed with the 1. Purpose commission an annual review and
Securities and Exchange Commission The Exchange is proposing to adopt report by an independent accounting
(‘‘Commission’’) the proposed rule Rule 14.10 setting forth reporting firm of the compliance of the Affiliate
change as described in Items I and II requirements on the Exchange should Security with the Exchange’s listing
below, which Items have been prepared the Exchange or BYX Affiliate list a requirements. The Exchange would be
by the Exchange. The Exchange has security on the Exchange (the ‘‘Affiliate required to promptly furnish a copy of
designated this proposal as a ‘‘non- Security’’). Proposed Rule 14.10(a)(1) this annual report to the Regulatory
controversial’’ proposed rule change would define ‘‘BYX Affiliate’’ as ‘‘the Oversight Committee of the Exchange’s
pursuant to Section 19(b)(3)(A) of the Exchange and any entity that directly or Board of Directors.
Act 3 and Rule 19b–4(f)(6)(iii) indirectly, through one or more Sub-paragraph (4) of proposed Rule
thereunder,4 which renders it effective intermediaries, controls, is controlled 14.10(b) would state that in the event
upon filing with the Commission. The by, or is under common control with the the Exchange determines that the BYX
Commission is publishing this notice to Exchange, where ‘‘control’’ means that Affiliate is not in compliance with any
solicit comments on the proposed rule one entity possesses, directly or of the Exchange’s listing standards, the
change from interested persons. indirectly, voting control of the other Exchange is required to notify the issuer
entity either through ownership of of such non-compliance promptly and
I. Self-Regulatory Organization’s request a plan of compliance. The
capital stock or other equity securities
Statement of the Terms of Substance of Exchange would also be required to file
or through majority representation on
the Proposed Rule Change a report with the Commission within
the board of directors or other
The Exchange is proposing a rule management body of such entity.’’ five business days of providing such
Proposed Rule 14.10(a)(2) would define notice to the issuer of its non-
change to adopt Exchange Rule 14.10
‘‘Affiliate Security’’ as ‘‘any security compliance. The required report would
setting forth additional requirements for
issued by a BYX Affiliate or any identify the date of the non-compliance,
the listing of securities that are issued
Exchange-listed option on any such type of non-compliance, and any other
by the Exchange or any of its affiliates
security, with the exception of Portfolio material information conveyed to the
as well as the monitoring of such
Depositary Receipts as defined in Rule issuer in the notice of non-compliance.
securities’ trading activity on the Within five business days of receipt of
Exchange. Proposed Rule 14.10 is based 14.8(d) and Investment Company Units
as defined in Rule 14.2.’’ 6 a plan of compliance from the issuer,
on Bats BZX Exchange, Inc. (‘‘BZX’’) the Exchange would again be required
Rule 14.3(e), which was recently In the event that a BYX Affiliate seeks
to list an Affiliate Security, paragraph to notify the Commission of such
amended and filed for immediate receipt, whether the plan of compliance
effectiveness with the Commission.5 (b)(1) of proposed Rule 14.10 would
require that prior to the initial listing of was accepted by the Exchange or what
The text of the proposed rule change the Affiliate Security on the Exchange, other action was taken with respect to
is available at the Exchange’s Web site Exchange personnel shall determine the plan and the time period provided
at www.batstrading.com, at the that such security satisfies the to regain compliance with the
principal office of the Exchange, and at Exchange’s rules for listing, and such Exchange’s listing standards, if any.
the Commission’s Public Reference finding must be approved by the Sub-paragraph (c) of proposed Rule
Room. 14.10 would require that throughout the
Regulatory Oversight Committee of the
trading of an Affiliate Security on the
Exchange’s Board of Directors.
mstockstill on DSK4VPTVN1PROD with NOTICES
1 15 U.S.C. 78s(b)(1). Exchange, the Exchange prepare a
2 17 CFR 240.19b–4. 6 The Exchange notes that BZX Rule 14.3(e)(1)(B) quarterly report on the Affiliate Security
3 15 U.S.C. 78s(b)(3)(A).
excludes Index Fund Shares as defined under BZX for the Regulatory Oversight Committee
4 17 CFR 240.19b–4(f)(6)(iii).
Rule 14.11(c). The Exchange rules do not currently of the Exchange’s Board of Directors that
5 See SR–BatsBZX–2016–08 (filed for immediate define Index Fund Shares. Therefore, the Exchange describes the Exchange’s monitoring of
effectiveness on April 13, 2016). See also Securities proposes to exclude Investment Company Unit as
Exchange Act Release No. 66580 (March 13, 2012), defined under Exchange Rule 14.2 as it believes
the trading of the Affiliate Security,
77 FR 16110 (March 19, 2012) (SR–BATS–2012– Investment Company Units to be synonymous with including summaries of all related
012). Index Fund Shares. surveillance alerts, complaints,
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![Federal Register / Vol. 81, No. 78 / Friday, April 22, 2016 / Notices 23773
regarding the controls in place to communications relating to the solicit comments on the proposed rule
address the potential conflicts of proposed rule change between the change from interested persons.
interest that may arise in the listing and Commission and any person, other than
I. Self-Regulatory Organization’s
trading of Affiliate Securities on the those that may be withheld from the
Statement of the Terms of the Substance
Exchange. Based on the foregoing, the public in accordance with the
of the Proposed Rule Change
Commission believes that waiving the provisions of 5 U.S.C. 552, will be
30-day operative delay is consistent available for Web site viewing and The Exchange proposes to establish
with the protection of investors and the printing in the Commission’s Public fees relating to end users and amend the
public interest.15 The Commission Reference Room, 100 F Street NE., definition of ‘‘affiliate,’’ as well as to
hereby grants the Exchange’s request Washington, DC 20549, on official amend the co-location section of the
and designates the proposal operative business days between the hours of Arca Options Fee Schedule (the
upon filing. 10:00 a.m. and 3:00 p.m. Copies of the ‘‘Options Fee Schedule’’) and, through
At any time within 60 days of the filing also will be available for its wholly owned subsidiary NYSE Arca
filing of the proposed rule change, the inspection and copying at the principal Equities, Inc. (‘‘NYSE Arca Equities’’),
Commission summarily may office of the Exchange. All comments the NYSE Arca Equities Schedule of
temporarily suspend such rule change if received will be posted without change; Fees and Charges for Exchange Services
it appears to the Commission that such the Commission does not edit personal (the ‘‘Equities Fee Schedule’’ and,
action is necessary or appropriate in the identifying information from together with the Options Fee Schedule,
public interest, for the protection of submissions. You should submit only the ‘‘Fee Schedules’’) to reflect the
investors, or otherwise in furtherance of information that you wish to make changes. The Exchange proposes that
the purposes of the Act. If the available publicly. All submissions the changes be effective the first of the
Commission takes such action, the should refer to File Number SR– month following approval by the
Commission shall institute proceedings BatsBYX–2016–05 and should be Securities and Exchange Commission
to determine whether the proposed rule submitted on or before May 13, 2016. (‘‘Commission’’).
should be approved or disapproved.
For the Commission, by the Division of The proposed rule change is available
IV. Solicitation of Comments Trading and Markets, pursuant to delegated on the Exchange’s Web site at
Interested persons are invited to authority.16 www.nyse.com, at the principal office of
submit written data, views, and Robert W. Errett, the Exchange, and at the Commission’s
arguments concerning the foregoing, Deputy Secretary. Public Reference Room.
including whether the proposed rule [FR Doc. 2016–09319 Filed 4–21–16; 8:45 am] II. Self-Regulatory Organization’s
change is consistent with the Act. BILLING CODE 8011–01–P Statement of the Purpose of, and
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
the following methods: Change
SECURITIES AND EXCHANGE
Electronic Comments In its filing with the Commission, the
COMMISSION
• Use the Commission’s Internet self-regulatory organization included
comment form (http://www.sec.gov/ statements concerning the purpose of,
[Release No. 34–77641; File No. SR–
rules/sro.shtml); or NYSEARCA–2016–19] and basis for, the proposed rule change
• Send an email to rule- and discussed any comments it received
comments@sec.gov. Please include File Self-Regulatory Organizations; NYSE on the proposed rule change. The text
Number SR&BatsBYX–2016–05 on the Arca, Inc.; Notice of Filing of Proposed of those statements may be examined at
subject line. Rule Change Establishing Fees the places specified in Item IV below.
Paper Comments Relating to End Users and Amending The Exchange has prepared summaries,
the Definition of ‘‘Affiliate,’’ as Well as set forth in sections A, B, and C below,
• Send paper comments in triplicate Amending the Arca Options Fee of the most significant parts of such
to Secretary, Securities and Exchange Schedule and the NYSE Arca Equities statements.
Commission, 100 F Street NE., Schedule of Fees and Charges for
Washington, DC 20549–1090. A. Self-Regulatory Organization’s
Exchange Services to Reflect the Statement of the Purpose of, and
All submissions should refer to File Changes
Number SR–BatsBYX–2016–05. This Statutory Basis for, the Proposed Rule
file number should be included on the April 18, 2016. Change
subject line if email is used. To help the Pursuant to Section 19(b)(1) 1 of the 1. Purpose
Commission process and review your Securities Exchange Act of 1934 (the
comments more efficiently, please use The Exchange proposes to establish
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 fees relating to certain end users and
only one method. The Commission will notice is hereby given that, on April 4,
post all comments on the Commission’s amend the definition of ‘‘affiliate,’’ as
2016, NYSE Arca, Inc. (the ‘‘Exchange’’ well as to amend the co-location 4
Internet Web site (http://www.sec.gov/ or ‘‘NYSE Arca’’) filed with the
rules/sro.shtml). Copies of the section of the Fee Schedules to reflect
Securities and Exchange Commission the changes. The Exchange proposes
submission, all subsequent (the ‘‘Commission’’) the proposed rule
amendments, all written statements that the changes be effective the first of
change as described in Items I and II
with respect to the proposed rule
mstockstill on DSK4VPTVN1PROD with NOTICES
below, which Items have been prepared 4 The Exchange initially filed rule changes
change that are filed with the by the self-regulatory organization. The relating to its co-location services with the
Commission, and all written Commission is publishing this notice to Securities and Exchange Commission
(‘‘Commission’’) in 2010. See Securities Exchange
15 For purposes only of waiving the 30-day Act Release No. 63275 (November 8, 2010), 75 FR
16 17 CFR 200.30–3(a)(12).
operative delay, the Commission has also 70048 (November 16, 2010) (SR–NYSEArca–2010–
1 15 U.S.C. 78s(b)(1).
considered the proposed rule’s impact on 100). The Exchange operates a data center in
2 15 U.S.C. 78a.
efficiency, competition, and capital formation. See Mahwah, New Jersey (the ‘‘data center’’) from
15 U.S.C. 78c(f). 3 17 CFR 240.19b–4. which it provides co-location services to Users.
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Document Created: 2017-08-22 23:37:51
Document Modified: 2017-08-22 23:37:51
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 23771 |
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