81 FR 26607 - Self-Regulatory Organizations; NASDAQ BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update Public Disclosure of Exchange Usage of Market Data

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 85 (May 3, 2016)

Page Range		26607-26609
FR Document		2016-10268

Federal Register, Volume 81 Issue 85 (Tuesday, May 3, 2016)

[Federal Register Volume 81, Number 85 (Tuesday, May 3, 2016)]
[Notices]
[Pages 26607-26609]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2016-10268]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77719; File No. SR-BX-2016-022]

Self-Regulatory Organizations; NASDAQ BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Update Public
Disclosure of Exchange Usage of Market Data

April 27, 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 April 21, 2016, NASDAQ BX, Inc. (``Exchange'') filed with the
Securities and Exchange Commission (``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. 782(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 update Exchange Rule 4759 and to amend the
public disclosure of the sources of data that the Exchange utilizes
when performing (1) order handling and execution; (2) order routing;
and (3) related compliance processes.
The text of the proposed rule change is below. Proposed new
language is italicized and deleted language is bracketed.
* * * * *
4759. Data Feeds Utilized
The BX System utilizes the below proprietary and network processor
feeds for the handling, routing, and execution of orders, as well as
for the regulatory compliance processes related to those functions. The
Secondary Source of data is, where applicable, utilized only in
emergency market conditions and only until those emergency conditions
are resolved.

------------------------------------------------------------------------
Market center Primary source Secondary source
------------------------------------------------------------------------
A--NYSE MKT (AMEX)........... NYSE MKT CQS/UQDF.
OpenBook Ultra.
B--NASDAQ OMX BX............. BX ITCH 5.0..... CQS/UQDF.
C--NSX....................... CQS/UQDF........ n/a.
D--FINRA ADF................. CQS/UQDF........ n/a.
J--DirectEdge A.............. BATS PITCH...... CQS/UQDF.
K--DirectEdge X.............. BATS PITCH...... CQS/UQDF.
M--[CSX] CHX................. [CQS/UQDF] CHX [n/a] CQS/UQDF.
Book Feed.
N--NYSE...................... NYSE OpenBook CQS/UQDF.
Ultra.
P--NYSE Arca................. NYSE ARCA XDP... CQS/UQDF.
T/Q--NASDAQ.................. ITCH 5.0........ CQS/UQDF.
X--NASDAQ OMX PSX............ PSX ITCH 5.0.... CQS/UQDF.
Y--BATS Y-Exchange........... BATS PITCH...... CQS/UQDF.
Z--BATS Exchange............. BATS PITCH...... CQS/UQDF.
------------------------------------------------------------------------

* * * * *
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.

[[Page 26608]]

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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
The Exchange proposes to update and amend the table in Exchange
Rule 4759 that sets forth on a market-by-market basis the specific
network processor and proprietary data feeds that the Exchange utilizes
for the handling, routing, and execution of orders, and for performing
the regulatory compliance checks related to each of those functions.
Specifically, the table will be amended to update the symbol for
the Chicago Stock Exchange, Inc. from ``CSX'' to ``CHX'', as well as to
update the primary and secondary sources in the table for CHX. The
primary source will be CHX Book Feed and the former primary source,
CQS/UQDF, will become the secondary source. The change to the primary
source reflects the Exchange's effort to increase the amount of data it
gathers.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general and with
Sections 6(b)(5) of the Act,\4\ in particular in that 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 regulating, clearing, settling,
processing information with respect to, and 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.
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\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(5).
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The Exchange believes that its proposal to amend the table in
Exchange Rule 4759 to update it for the symbol for the Chicago Stock
Exchange, Inc. and to amend the primary and secondary sources of data
for CHX that the Exchange utilizes when performing (1) order handling
and execution; (2) order routing; and (3) related compliance processes
will ensure that Exchange Rule 4759 correctly identifies and publicly
states on a market-by-market basis all of the specific network
processor and proprietary data feeds that the Exchange utilizes for the
handling, routing, and execution of orders, and for performing the
regulatory compliance checks related to each of those functions. The
Exchange also believes that the proposed rule change removes
impediments to and perfects the mechanism of a free and open market and
protects investors and the public interest because it provides
additional specificity, clarity and transparency.

B. Self-Regulatory Organization's Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. To
the contrary, the Exchange believes the proposal will enhance
competition because including all of the correct information for the
exchanges enhances transparency and enables investors to better assess
the quality of the Exchange's execution and routing services.

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)(iii) of the Act \5\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\6\
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\5\ 15 U.S.C. 78s(b)(3)(a)(iii).
\6\ 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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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.

IV. Solicitation of Comments

Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-BX-2016-022 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-2016-022. 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

[[Page 26609]]

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-2016-022, and should be submitted on or before May 24, 2016.\7\
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\7\ 17 CFR 200.30-3(a)(12).

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10268 Filed 5-2-16; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 85 / Tuesday, May 3, 2016 / Notices 26609

office of the Exchange. All comments date, the Commission has received 6 SECURITIES AND EXCHANGE
received will be posted without change; comment letters on the proposal.4 COMMISSION
the Commission does not edit personal Section 19(b)(2) of the Act 5 provides
identifying information from [File No. 500–1]
that within 45 days of the publication of
submissions. You should submit only notice of the filing of a proposed rule Coyote Resources, Inc., Harbor Island
information that you wish to make
change, or within such longer period up Development Corp., Medical Makeover
available publicly. All submissions
to 90 days as the Commission may Corp. of America, and Shades
should refer to File Number SR–BX–
designate if it finds such longer period Holdings, Inc.; Order of Suspension of
2016–022, and should be submitted on
to be appropriate and publishes its Trading
or before May 24, 2016.7
reasons for so finding, or as to which the
For the Commission, by the Division of April 29, 2016.
self-regulatory organization consents,
Trading and Markets, pursuant to delegated It appears to the Securities and
the Commission shall either approve the
authority. Exchange Commission that there is a
proposed rule change, disapprove the lack of current and accurate information
Robert W. Errett,
proposed rule change, or institute concerning the securities of Coyote
Deputy Secretary. proceedings to determine whether the
[FR Doc. 2016–10268 Filed 5–2–16; 8:45 am]
Resources, Inc. (CIK No. 1392121), a
proposed rule change should be revoked Nevada corporation with its
BILLING CODE 8011–01–P disapproved. The 45th day from the principal place of business listed as
publication of notice of filing of this Davie, Florida with stock quoted on
proposed rule change is May 2, 2016. OTC Link (previously, ‘‘Pink Sheets’’)
SECURITIES AND EXCHANGE
The Commission is extending this 45- operated by OTC Markets Group, Inc.
COMMISSION
day time period. In order to provide the (‘‘OTC Link’’) under the ticker symbol
Commission with sufficient time to COYR, because it has not filed any
[Release No. 34–77720; File No. SR–OCC– consider the proposed rule change, the periodic reports since the period ended
2016–004]
Commission finds it is appropriate to June 30, 2013. On August 19, 2015, a
Self-Regulatory Organizations; The designate a longer period within which delinquency letter was sent by the
Options Clearing Corporation; Notice to take action on the proposed rule Division of Corporation Finance to
of Designation of Longer Period for change. Coyote Resources, Inc. requesting
Commission Action on Proposed Rule Accordingly, the Commission, compliance with its periodic filing
Change Related to the Adoption of an obligations, and Coyote Resources, Inc.
pursuant to Section 19(b)(2) of the Act,6
Options Exchange Risk Control received the delinquency letter on
designates June 16, 2016, as the date by
Standards Policy August 29, 2015, but failed to cure its
which the Commission should either delinquencies.
April 27, 2016. approve or disapprove, or institute It appears to the Securities and
proceedings to determine whether to Exchange Commission that there is a
On March 4, 2016, The Options disapprove, the proposed rule change
Clearing Corporation (‘‘OCC’’) filed with lack of current and accurate information
(File No. SR–OCC–2016–004). concerning the securities of Harbor
the Securities and Exchange
Commission (‘‘Commission’’), pursuant For the Commission, by the Division of Island Development Corp. (CIK No.
to Section 19(b)(1) of the Securities Trading and Markets, pursuant to delegated 1490824), a revoked Nevada corporation
Exchange Act of 1934 (‘‘Act’’) 1 and Rule authority.7 with its principal place of business
19b–4 thereunder,2 a proposed rule Robert W. Errett, listed as Opa Locka, Florida with stock
change to adopt a new Options Deputy Secretary.
quoted on OTC Link under the ticker
Exchange Risk Control Standards Policy symbol HIDC, because it has not filed
[FR Doc. 2016–10269 Filed 5–2–16; 8:45 am]
and revise OCC’s Schedule of Fees to any periodic reports since the period
BILLING CODE 8011–01–P ended June 30, 2013. On July 31, 2015,
charge and collect from Clearing
Members a fee of two cents per each a delinquency letter was sent by the
cleared options contract (per side) Division of Corporation Finance to
executed on an options exchange that 4 See Letters from Mark Dehnert, Managing Harbor Island Development Corp.
did not demonstrate sufficient risk Director, Goldman Sachs & Co., and Kyle Czepiel, requesting compliance with its periodic
controls designed to meet the proposed Co-Chief Executive Officer, Goldman Sachs filing obligations, but it did not receive
set of principles-based risk control Execution & Clearing, L.P., dated March 28, 2016, the delinquency letter due to its failure
standards. The proposed rule change
to Secretary, Commission; Lisa J. Fall, President, to maintain a valid address on file with
BOX Options Exchange, dated April 6, 2016, to the Commission as required by
was published for comment in the Brent J. Fields, Secretary, Commission; James G.
Federal Register on March 18, 2016.3 To Commission rules (Rule 301 of
Lundy, Associate General Counsel, ABN AMRO
Clearing Chicago LLC, dated April 8, 2016, to Brent
Regulation S–T, 17 CFR 232.301 and
7 17 J. Fields, Secretary, Commission; Ellen Greene, Section 5.4 of EDGAR Filer Manual).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1). Managing Director, Securities Industry and It appears to the Securities and
2 17 CFR 240.19b–4. OCC also filed this proposal Financial Markets Association, dated April 12, Exchange Commission that there is a
as an advance notice pursuant to Section 802(e)(1) 2016, to Robert W. Errett, Deputy Secretary, lack of current and accurate information
of the Payment, Clearing, and Settlement Commission; Michael J. Simon, Secretary and concerning the securities of Medical
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Supervision Act of 2010 and Rule 19b–4(n)(1) General Counsel, International Securities Exchange, Makeover Corp. of America (CIK No.
under the Exchange Act. 15 U.S.C. 5465(e)(1) and LLC, dated April 20, 2016, to Brent J. Fields,
17 CFR 240.19b–4(n)(1). See Securities Exchange Secretary, Commission; and Edward T. Tilly, Chief
1083944), a void Delaware corporation
Act Release No. 34–77628 (April 15, 2016), 81 FR Executive Officer, Chicago Board Options with its principal place of business
23536 (April 21, 2016) (SR–OCC–2016–801). To Exchange, Inc., dated April 20, 2016, to Brent J. listed as West Palm Beach, Florida with
date, the Commission has not received any stock quoted on OTC Link under the
Fields, Secretary, Commission.
comments on the advance notice.
3 Securities Exchange Act Release No. 34–77358
5 15 U.S.C. 78s(b)(2). ticker symbol MMAM, because it has
(March 14, 2016), 81 FR 14921 (March 18, 2016)
6 15 U.S.C. 78s(b)(2). not filed any periodic reports since the
(File No. SR–OCC–2016–004). 7 17 CFR 200.30–3(a)(31). period ended September 30, 2012. On

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Document Created: 2016-05-03 00:30:22
Document Modified: 2016-05-03 00:30:22

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 26607