81_FR_28199 81 FR 28110 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule

81 FR 28110 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 89 (May 9, 2016)

Page Range28110-28112
FR Document2016-10758

Federal Register, Volume 81 Issue 89 (Monday, May 9, 2016)
[Federal Register Volume 81, Number 89 (Monday, May 9, 2016)]
[Notices]
[Pages 28110-28112]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-10758]


=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77758; File No. SR-CBOE-2016-040]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend the Fees Schedule

May 3, 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 21, 2016, Chicago Board Options Exchange, Incorporated 
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I and II below, which Items have been prepared by the 
Exchange. The Exchange filed the proposal as a ``non-controversial'' 
proposed rule change pursuant to section 19(b)(3)(A)(iii) of the Act 
\3\ and Rule 19b-4(f)(6) thereunder.\4\ 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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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 the Fees Schedule to update 
references to quoting bandwidth. The text of the proposed rule change 
is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the 
Secretary, 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
    The Exchange proposes to amend its Fees Schedule, effective April 
21, 2016.
    The Fees Schedule currently sets forth the quoting bandwidth 
allowance for a Market-Maker Trading Permit. The bandwidth allowance is 
referenced as a maximum number of quotes over the course of the trading 
day (currently 35,640,000). The Exchange notes however, that the 
current reference applies to the Regular Trading Hours session 
(``RTH'') only. In order to avoid confusion and maintain clarity and 
transparency in the rules, the Exchange proposes to add a reference to 
the quoting bandwidth allowance for an Extended Trading Hours \5\ 
(``ETH'') Market-Maker Trading Permit (i.e., 37,500,000 quotes over the 
course of the ETH session).\6\ The Exchanges notes that ETH bandwidth 
applies to all ETH Market-Maker Trading Permits and all ETH Quoting and 
Order Entry Bandwidth Packets. The Exchange also notes that the trading 
hours for RTH and ETH differ and as such, an ETH Market-Maker Trading 
Permit is equivalent to a different maximum number of quotes over the 
course of the trading session.\7\
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    \5\ Extended Trading Hours are from 2:00 a.m. Central time 
(``CT'') to 8:15 a.m. (CT) on Monday through Friday.
    \6\ The Exchange notes that prior to April 18, 2016, the maximum 
bandwidth quoting allowance during ETH was 33,000,000 quotes over 
the course of the ETH session.
    \7\ The rate per second(s) for quoting bandwidth is (and has 
always been) the same for both the RTH and ETH sessions. Because the 
ETH trading session is shorter than the RTH trading session, the 
stated number of quotes over the course of a trading session is less 
for ETH than RTH.
---------------------------------------------------------------------------

    The Exchange next proposes to update the bandwidth currently set 
forth in Fees Schedule. The Fees Schedule currently states that the 
quoting bandwidth allowance for a Market-Maker Trading Permit is 
equivalent to a maximum of 35,640,000 quotes over the course of a 
trading day. The Exchange proposes to clarify that the stated quoting 
bandwidth reflects the maximum number of quotes over the course of a 
trading ``session'' instead of trading ``day.'' Particularly, RTH and 
ETH are separate trading sessions that are part of the same trading 
day. As such, the current expression of RTH bandwidth as quotes over 
the course of a trading ``day'' is inaccurate. Next, the Exchange notes 
that it increased quoting bandwidth allowance, effective April 18, 
2016. The Exchange therefore seeks to make a corresponding amendment to 
the Fees Schedule. Specifically, the Exchange proposes to update the 
reference to the number of maximum quotes from 35,640,000 to 
40,500,000. The Exchange notes that the increase of quoting bandwidth 
allowance applies to all RTH Market-Maker Trading Permits and all RTH 
Quoting and Order Entry Bandwidth Packets.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations thereunder applicable to the Exchange and, in particular, 
the requirements of section 6(b) of the Act.\8\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
section 6(b)(5) \9\ requirements that the rules of an exchange be 
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. Additionally, 
the Exchange believes the proposed rule change is consistent with the 
section 6(b)(5) \10\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
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    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
    \10\ Id.
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    In particular, the Exchange believes that adding a reference to the 
quoting bandwidth allowance during ETH avoids potential confusion and 
maintains transparency in the Fees Schedule, thereby removing

[[Page 28111]]

impediments to and perfecting the mechanism of a free open market and a 
national market system, and, in general, protecting investors and the 
public interest. Similarly, as RTH and ETH are separate trading 
sessions (but part of the same trading day), the current reference to 
the RTH bandwidth as a maximum number of quotes over the course of a 
trading ``day'' is no longer accurate and as such, the Exchange 
believes replacing ``trading day'' with ``trading session'' eliminates 
incorrect terminology and avoids potential confusion.
    The Exchange believes that amending the Fees Schedule to accurately 
reflect the increase in quoting bandwidth allowance, alleviates 
confusion, thereby removing impediments to and perfecting the mechanism 
of a free open market and a national market system, and, in general, 
protecting investors and the public interest. The Exchange also notes 
that increasing quoting bandwidth helps ensure that Market-Makers have 
an adequate capacity and ability to continue to make active markets, 
which also removes impediments to and perfects the mechanism of a free 
open market and a national market system, and, in general, protects 
investors and the public interest.

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

    CBOE 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 Exchange does not believe 
that the proposed rule change will impose any burden on intramarket 
competition that is not necessary or appropriate in furtherance of the 
purposes of the Act because the proposed change applies to all Market-
Makers and is merely updating the Fees Schedule to accurately reflect 
an increase in quoting bandwidth, update outdated terminology, and 
reflect what the maximum bandwidth is for ETH. The Exchange believes 
that the proposed rule change will not cause an unnecessary burden on 
intermarket competition because it only applies to trading on CBOE. To 
the extent that the proposed changes make CBOE a more attractive 
marketplace for market participants at other exchanges, such market 
participants are welcome to become CBOE market participants.

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

    The Exchange neither solicited nor received comments on the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing rule 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, provided that the self-regulatory organization 
has given 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,\11\ the proposed rule change has become effective 
pursuant to section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6) 
thereunder.\13\
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    \11\ The Exchange has fulfilled this requirement.
    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \14\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b4(f)(6)(iii),\15\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay so that the proposal 
may become operative immediately upon filing. The Exchange states that 
without a waiver of the operative delay, the Fees Schedule would 
reflect an outdated bandwidth amount, of only one trading session, 
which could cause potential confusion to TPHs. The Commission believes 
that it is consistent with the protection of investors and the public 
interest to waive the 30-day operative delay so the Exchange's Fees 
Schedule may immediately reflect the correct bandwidth fees. For this 
reason, the Commission designates the proposed rule change to be 
operative upon filing.\16\
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    \14\ 17 CFR 240.19b-4(f)(6).
    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ 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 will institute proceedings to 
determine whether the proposed rule change should be approved or 
disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-CBOE-2016-040 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-CBOE-2016-040. 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

[[Page 28112]]

identifying information from submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-CBOE-2016-040 and should be submitted on 
or before May 31, 2016.
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    \17\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10758 Filed 5-6-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                  28110                              Federal Register / Vol. 81, No. 89 / Monday, May 9, 2016 / Notices

                                                  unless it displays a currently valid OMB                 and at the Commission’s Public                          Schedule currently states that the
                                                  control number.                                          Reference Room.                                         quoting bandwidth allowance for a
                                                     PBGC estimates that an average of 900                                                                         Market-Maker Trading Permit is
                                                                                                           II. Self-Regulatory Organization’s
                                                  appellants per year will respond to this                                                                         equivalent to a maximum of 35,640,000
                                                                                                           Statement of the Purpose of, and
                                                  collection of information. PBGC further                                                                          quotes over the course of a trading day.
                                                                                                           Statutory Basis for, the Proposed Rule
                                                  estimates that the average annual                                                                                The Exchange proposes to clarify that
                                                                                                           Change
                                                  burden of this collection of information                                                                         the stated quoting bandwidth reflects
                                                  is about forty-five minutes and $52 per                     In its filing with the Commission, the               the maximum number of quotes over the
                                                  appellant, with an average total annual                  Exchange included statements                            course of a trading ‘‘session’’ instead of
                                                  burden of 643 hours and $46,680.                         concerning the purpose of and basis for                 trading ‘‘day.’’ Particularly, RTH and
                                                                                                           the proposed rule change and discussed                  ETH are separate trading sessions that
                                                    Issued in Washington, DC, this 2 day of
                                                                                                           any comments it received on the                         are part of the same trading day. As
                                                  May 2016.
                                                                                                           proposed rule change. The text of these                 such, the current expression of RTH
                                                  Judith Starr,                                            statements may be examined at the                       bandwidth as quotes over the course of
                                                  General Counsel, Pension Benefit Guaranty                places specified in Item IV below. The
                                                  Corporation.
                                                                                                                                                                   a trading ‘‘day’’ is inaccurate. Next, the
                                                                                                           Exchange has prepared summaries, set                    Exchange notes that it increased quoting
                                                  [FR Doc. 2016–10813 Filed 5–6–16; 8:45 am]               forth in sections A, B, and C below, of                 bandwidth allowance, effective April
                                                  BILLING CODE 7709–02–P                                   the most significant aspects of such                    18, 2016. The Exchange therefore seeks
                                                                                                           statements.                                             to make a corresponding amendment to
                                                                                                           A. Self-Regulatory Organization’s                       the Fees Schedule. Specifically, the
                                                  SECURITIES AND EXCHANGE                                  Statement of the Purpose of, and                        Exchange proposes to update the
                                                  COMMISSION                                               Statutory Basis for, the Proposed Rule                  reference to the number of maximum
                                                                                                           Change                                                  quotes from 35,640,000 to 40,500,000.
                                                  [Release No. 34–77758; File No. SR–CBOE–
                                                  2016–040]                                                                                                        The Exchange notes that the increase of
                                                                                                           1. Purpose                                              quoting bandwidth allowance applies to
                                                  Self-Regulatory Organizations;                              The Exchange proposes to amend its                   all RTH Market-Maker Trading Permits
                                                  Chicago Board Options Exchange,                          Fees Schedule, effective April 21, 2016.                and all RTH Quoting and Order Entry
                                                  Incorporated; Notice of Filing and                          The Fees Schedule currently sets forth               Bandwidth Packets.
                                                  Immediate Effectiveness of a Proposed                    the quoting bandwidth allowance for a                   2. Statutory Basis
                                                  Rule Change To Amend the Fees                            Market-Maker Trading Permit. The
                                                  Schedule                                                 bandwidth allowance is referenced as a                     The Exchange believes the proposed
                                                                                                           maximum number of quotes over the                       rule change is consistent with the
                                                  May 3, 2016.                                             course of the trading day (currently                    Securities Exchange Act of 1934 (the
                                                     Pursuant to section 19(b)(1) of the                   35,640,000). The Exchange notes                         ‘‘Act’’) and the rules and regulations
                                                  Securities Exchange Act of 1934 (the                     however, that the current reference                     thereunder applicable to the Exchange
                                                  ‘‘Act’’),1 and Rule 19b–4 thereunder,2                   applies to the Regular Trading Hours                    and, in particular, the requirements of
                                                  notice is hereby given that on April 21,                 session (‘‘RTH’’) only. In order to avoid               section 6(b) of the Act.8 Specifically, the
                                                  2016, Chicago Board Options Exchange,                    confusion and maintain clarity and                      Exchange believes the proposed rule
                                                  Incorporated (the ‘‘Exchange’’ or                        transparency in the rules, the Exchange                 change is consistent with the section
                                                  ‘‘CBOE’’) filed with the Securities and                  proposes to add a reference to the                      6(b)(5) 9 requirements that the rules of
                                                  Exchange Commission (the                                 quoting bandwidth allowance for an                      an exchange be designed to prevent
                                                  ‘‘Commission’’) the proposed rule                        Extended Trading Hours 5 (‘‘ETH’’)                      fraudulent and manipulative acts and
                                                  change as described in Items I and II                    Market-Maker Trading Permit (i.e.,                      practices, to promote just and equitable
                                                  below, which Items have been prepared                    37,500,000 quotes over the course of the                principles of trade, to foster cooperation
                                                  by the Exchange. The Exchange filed the                  ETH session).6 The Exchanges notes that                 and coordination with persons engaged
                                                  proposal as a ‘‘non-controversial’’                      ETH bandwidth applies to all ETH                        in regulating, clearing, settling,
                                                  proposed rule change pursuant to                         Market-Maker Trading Permits and all                    processing information with respect to,
                                                  section 19(b)(3)(A)(iii) of the Act 3 and                ETH Quoting and Order Entry                             and facilitating transactions in
                                                  Rule 19b–4(f)(6) thereunder.4 The                        Bandwidth Packets. The Exchange also                    securities, to remove impediments to
                                                  Commission is publishing this notice to                  notes that the trading hours for RTH and                and perfect the mechanism of a free and
                                                  solicit comments on the proposed rule                    ETH differ and as such, an ETH Market-                  open market and a national market
                                                  change from interested persons.                          Maker Trading Permit is equivalent to a                 system, and, in general, to protect
                                                                                                           different maximum number of quotes                      investors and the public interest.
                                                  I. Self-Regulatory Organization’s                        over the course of the trading session.7                Additionally, the Exchange believes the
                                                  Statement of the Terms of Substance of                      The Exchange next proposes to                        proposed rule change is consistent with
                                                  the Proposed Rule Change                                 update the bandwidth currently set                      the section 6(b)(5) 10 requirement that
                                                    The Exchange proposes to amend the                     forth in Fees Schedule. The Fees                        the rules of an exchange not be designed
                                                  Fees Schedule to update references to                                                                            to permit unfair discrimination between
                                                  quoting bandwidth. The text of the                          5 Extended Trading Hours are from 2:00 a.m.
                                                                                                                                                                   customers, issuers, brokers, or dealers.
                                                                                                           Central time (‘‘CT’’) to 8:15 a.m. (CT) on Monday          In particular, the Exchange believes
                                                  proposed rule change is available on the                 through Friday.
                                                  Exchange’s Web site (http://                                6 The Exchange notes that prior to April 18, 2016,
                                                                                                                                                                   that adding a reference to the quoting
mstockstill on DSK3G9T082PROD with NOTICES




                                                  www.cboe.com/AboutCBOE/                                  the maximum bandwidth quoting allowance during          bandwidth allowance during ETH
                                                  CBOELegalRegulatoryHome.aspx), at                        ETH was 33,000,000 quotes over the course of the        avoids potential confusion and
                                                  the Exchange’s Office of the Secretary,                  ETH session.                                            maintains transparency in the Fees
                                                                                                              7 The rate per second(s) for quoting bandwidth is
                                                                                                                                                                   Schedule, thereby removing
                                                    1 15
                                                                                                           (and has always been) the same for both the RTH
                                                         U.S.C. 78s(b)(1).                                 and ETH sessions. Because the ETH trading session
                                                    2 17 CFR 240.19b–4.                                                                                             8 15 U.S.C. 78f(b).
                                                                                                           is shorter than the RTH trading session, the stated
                                                    3 15 U.S.C. 78s(b)(3)(A)(iii).                                                                                  9 15 U.S.C. 78f(b)(5).
                                                                                                           number of quotes over the course of a trading
                                                    4 17 CFR 240.19b–4(f)(6).                              session is less for ETH than RTH.                        10 Id.




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                                                                                  Federal Register / Vol. 81, No. 89 / Monday, May 9, 2016 / Notices                                              28111

                                                  impediments to and perfecting the                       C. Self-Regulatory Organization’s                        At any time within 60 days of the
                                                  mechanism of a free open market and a                   Statement on Comments on the                          filing of the proposed rule change, the
                                                  national market system, and, in general,                Proposed Rule Change Received From                    Commission summarily may
                                                  protecting investors and the public                     Members, Participants, or Others                      temporarily suspend such rule change if
                                                  interest. Similarly, as RTH and ETH are                                                                       it appears to the Commission that such
                                                                                                            The Exchange neither solicited nor
                                                  separate trading sessions (but part of the                                                                    action is necessary or appropriate in the
                                                                                                          received comments on the proposed
                                                  same trading day), the current reference                                                                      public interest, for the protection of
                                                                                                          rule change.
                                                  to the RTH bandwidth as a maximum                                                                             investors, or otherwise in furtherance of
                                                  number of quotes over the course of a                   III. Date of Effectiveness of the                     the purposes of the Act. If the
                                                                                                          Proposed Rule Change and Timing for                   Commission takes such action, the
                                                  trading ‘‘day’’ is no longer accurate and
                                                                                                          Commission Action                                     Commission will institute proceedings
                                                  as such, the Exchange believes replacing
                                                                                                                                                                to determine whether the proposed rule
                                                  ‘‘trading day’’ with ‘‘trading session’’                   Because the foregoing rule does not (i)
                                                                                                                                                                change should be approved or
                                                  eliminates incorrect terminology and                    significantly affect the protection of
                                                                                                                                                                disapproved.
                                                  avoids potential confusion.                             investors or the public interest; (ii)
                                                                                                          impose any significant burden on                      IV. Solicitation of Comments
                                                     The Exchange believes that amending
                                                                                                          competition; and (iii) become operative                 Interested persons are invited to
                                                  the Fees Schedule to accurately reflect
                                                                                                          for 30 days from the date on which it                 submit written data, views, and
                                                  the increase in quoting bandwidth
                                                                                                          was filed, or such shorter time as the                arguments concerning the foregoing,
                                                  allowance, alleviates confusion, thereby                Commission may designate if consistent
                                                  removing impediments to and                                                                                   including whether the proposed rule
                                                                                                          with the protection of investors and the              change is consistent with the Act.
                                                  perfecting the mechanism of a free open                 public interest, provided that the self-              Comments may be submitted by any of
                                                  market and a national market system,                    regulatory organization has given the                 the following methods:
                                                  and, in general, protecting investors and               Commission written notice of its intent
                                                  the public interest. The Exchange also                  to file the proposed rule change at least             Electronic Comments
                                                  notes that increasing quoting bandwidth                 five business days prior to the date of                 • Use the Commission’s Internet
                                                  helps ensure that Market-Makers have                    filing of the proposed rule change or                 comment form (http://www.sec.gov/
                                                  an adequate capacity and ability to                     such shorter time as designated by the                rules/sro.shtml); or
                                                  continue to make active markets, which                  Commission,11 the proposed rule                         • Send an email to rule-comments@
                                                  also removes impediments to and                         change has become effective pursuant to               sec.gov. Please include File Number SR–
                                                  perfects the mechanism of a free open                   section 19(b)(3)(A) of the Act 12 and                 CBOE–2016–040 on the subject line.
                                                  market and a national market system,                    Rule 19b–4(f)(6) thereunder.13                        Paper Comments
                                                  and, in general, protects investors and                    A proposed rule change filed under
                                                  the public interest.                                    Rule 19b–4(f)(6) 14 normally does not                    • Send paper comments in triplicate
                                                                                                          become operative prior to 30 days after               to Secretary, Securities and Exchange
                                                  B. Self-Regulatory Organization’s                       the date of the filing. However, pursuant             Commission, 100 F Street NE.,
                                                  Statement on Burden on Competition                      to Rule 19b4(f)(6)(iii),15 the Commission             Washington, DC 20549–1090.
                                                                                                          may designate a shorter time if such                  All submissions should refer to File
                                                     CBOE does not believe that the                                                                             Number SR–CBOE–2016–040. This file
                                                                                                          action is consistent with the protection
                                                  proposed rule change will impose any                                                                          number should be included on the
                                                                                                          of investors and the public interest. The
                                                  burden on competition that is not                       Exchange has asked the Commission to                  subject line if email is used. To help the
                                                  necessary or appropriate in furtherance                 waive the 30-day operative delay so that              Commission process and review your
                                                  of the purposes of the Act. The                         the proposal may become operative                     comments more efficiently, please use
                                                  Exchange does not believe that the                      immediately upon filing. The Exchange                 only one method. The Commission will
                                                  proposed rule change will impose any                    states that without a waiver of the                   post all comments on the Commission’s
                                                  burden on intramarket competition that                  operative delay, the Fees Schedule                    Internet Web site (http://www.sec.gov/
                                                  is not necessary or appropriate in                      would reflect an outdated bandwidth                   rules/sro.shtml). Copies of the
                                                  furtherance of the purposes of the Act                  amount, of only one trading session,                  submission, all subsequent
                                                  because the proposed change applies to                  which could cause potential confusion                 amendments, all written statements
                                                  all Market-Makers and is merely                         to TPHs. The Commission believes that                 with respect to the proposed rule
                                                  updating the Fees Schedule to                           it is consistent with the protection of               change that are filed with the
                                                  accurately reflect an increase in quoting               investors and the public interest to                  Commission, and all written
                                                  bandwidth, update outdated                              waive the 30-day operative delay so the               communications relating to the
                                                  terminology, and reflect what the                       Exchange’s Fees Schedule may                          proposed rule change between the
                                                  maximum bandwidth is for ETH. The                       immediately reflect the correct                       Commission and any person, other than
                                                  Exchange believes that the proposed                     bandwidth fees. For this reason, the                  those that may be withheld from the
                                                  rule change will not cause an                           Commission designates the proposed                    public in accordance with the
                                                  unnecessary burden on intermarket                       rule change to be operative upon                      provisions of 5 U.S.C. 552, will be
                                                                                                          filing.16                                             available for Web site viewing and
                                                  competition because it only applies to
                                                                                                                                                                printing in the Commission’s Public
                                                  trading on CBOE. To the extent that the
                                                                                                            11 The  Exchange has fulfilled this requirement.    Reference Room, 100 F Street NE.,
                                                  proposed changes make CBOE a more                                                                             Washington, DC 20549 on official
mstockstill on DSK3G9T082PROD with NOTICES




                                                                                                            12 15  U.S.C. 78s(b)(3)(A).
                                                  attractive marketplace for market                          13 17 CFR 240.19b–4(f)(6).                         business days between the hours of
                                                  participants at other exchanges, such                      14 17 CFR 240.19b–4(f)(6).                         10:00 a.m. and 3:00 p.m. Copies of the
                                                  market participants are welcome to                         15 17 CFR 240.19b–4(f)(6)(iii).
                                                                                                                                                                filing also will be available for
                                                  become CBOE market participants.                           16 For purposes only of waiving the 30-day
                                                                                                                                                                inspection and copying at the principal
                                                                                                          operative delay, the Commission has also
                                                                                                          considered the proposed rule’s impact on
                                                                                                                                                                office of the Exchange. All comments
                                                                                                          efficiency, competition, and capital formation. See   received will be posted without change;
                                                                                                          15 U.S.C. 78c(f).                                     the Commission does not edit personal


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                                                  28112                             Federal Register / Vol. 81, No. 89 / Monday, May 9, 2016 / Notices

                                                  identifying information from                              Amadi Anene by phone or email. His                       You may submit comments to the
                                                  submissions. You should submit only                       contact information is Amadi Anene,                   Office of Medical Services, U.S.
                                                  information that you wish to make                         Senior Advisor to the Administrator,                  Department of State by the following
                                                  available publicly. All submissions                       409 Third Street SW., Washington, DC                  methods:
                                                  should refer to File Number SR–CBOE–                      20416, Phone, 202–205–0067 or email,                     • Web: Persons with access to the
                                                  2016–040 and should be submitted on                       amadi.anene@sba.gov.                                  Internet may comment on this notice by
                                                  or before May 31, 2016.                                     Additionally, if you need                           going to www.Regulations.gov. You can
                                                    For the Commission, by the Division of
                                                                                                            accommodations because of a disability                search for the document by entering
                                                  Trading and Markets, pursuant to delegated                or require additional information, please             ‘‘Docket Number: DOS–2016–0026’’ in
                                                  authority.17                                              contact Amadi Anene at the information                the Search field. Then click the
                                                  Robert W. Errett,                                         above.                                                ‘‘Comment Now’’ button and complete
                                                  Deputy Secretary.                                         Miguel L’ Heureux,                                    the comment form.
                                                  [FR Doc. 2016–10758 Filed 5–6–16; 8:45 am]                White House Liaison.
                                                                                                                                                                     • Email: Catherine M. Kazmin at
                                                                                                                                                                  kazmincm@state.gov. You must include
                                                  BILLING CODE 8011–01–P                                    [FR Doc. 2016–10546 Filed 5–6–16; 8:45 am]
                                                                                                                                                                  Emergency Submission Comment on
                                                                                                            BILLING CODE 8025–01–P
                                                                                                                                                                  ‘‘Employee Self Certification And
                                                                                                                                                                  Ability To Perform In Emergencies’’
                                                  SMALL BUSINESS ADMINISTRATION                                                                                   (ESCAPE) Program in the subject line of
                                                                                                            DEPARTMENT OF STATE                                   your message.
                                                  Council on Underserved Communities
                                                  Advisory Board                                            [Public Notice: 9552]                                    You must include the DS form
                                                                                                                                                                  number (if applicable), information
                                                  AGENCY: U.S. Small Business                               Notice of Information Collection Under                collection title, and the OMB control
                                                  Administration.                                           OMB Emergency Review: Employee                        number in any correspondence.
                                                  ACTION: Notice of open Federal Advisory                   Self Certification and Ability To                     FOR FURTHER INFORMATION CONTACT:
                                                  Committee meetings.                                       Perform in Emergencies (ESCAPE)                       Direct requests for additional
                                                                                                            Program                                               information regarding the collection
                                                  SUMMARY:   The SBA is issuing this notice                                                                       listed in this notice, including requests
                                                  to announce the location, date, time and                        Notice of request for emergency
                                                                                                            ACTION:
                                                                                                            OMB approval and public comment.                      for copies of the proposed collection
                                                  agenda for the initial meeting of the                                                                           instrument and supporting documents
                                                  Council on Underserved Communities                                                                              to Catherine M. Kazmin who may be
                                                                                                            SUMMARY:    The Department of State has
                                                  (CUC) Advisory Board.                                                                                           reached on 703–875–5413 or at
                                                                                                            submitted the information collection
                                                  DATES: The meeting will be held on                        request described below to the Office of              kazmincm@state.gov.
                                                  Tuesday, May 24th at 1:00 pm EST.                         Management and Budget (OMB) for                       SUPPLEMENTARY INFORMATION:
                                                  ADDRESSES: These meeting will be held                     review and approval in accordance with                   • Title of Information Collection:
                                                  at the U.S. Small Business                                the emergency review procedures of the                Employee Self Certification And Ability
                                                  Administration, in the Administrator’s                    Paperwork Reduction Act of 1995 (5                    To Perform In Emergencies (ESCAPE)
                                                  Large Conference Room, located at 409                     CFR 1320.13). The purpose of this                     Program.
                                                  3rd St. SW., Suite 7000, Washington, DC                   notice is to allow for public comment                    • OMB Control Number: None.
                                                  20416.                                                    from all interested individuals and                      • Type of Request: Emergency
                                                  SUPPLEMENTARY INFORMATION: Pursuant                       organizations. Emergency review and                   Review.
                                                  to section 10(a) of the Federal Advisory                  approval of this collection has been                     • Originating Office: Office of
                                                  Committee Act (5 U.S.C. Appendix 2),                      requested from OMB by May 23, 2016.                   Medical Services (MED).
                                                  SBA announces the meeting of the                          If granted, the emergency approval is                    • Form Number: DS–6570.
                                                  Council on Underserved Communities                        only valid for 180 days. The Department                  • Respondents: Non-federal
                                                  Advisory Board. This Board provides                       plans to follow this emergency request                individuals being considered for
                                                  advice and counsel to the SBA                             with a submission for a 3 year approval               contracted assignments at ESCAPE-
                                                  Administrator and Associate                               through OMB’s normal PRA clearance                    designated posts.
                                                  Administrator. CUC members will                           process (5 CFR 1320.10).                                 • Estimated Number of Respondents:
                                                  examine the obstacles facing small                        DATES: All public comments must be                    200 annually.
                                                  businesses in underserved communities                     received by May 16, 2016.                                • Estimated Number of Responses:
                                                  and recommend to SBA policy and                           ADDRESSES: Direct any comments on                     200 annually.
                                                  programmatic changes to help                              this emergency request to both the                       • Average Time per Response: 30
                                                  strengthen SBA’s programs and services                    Department of State Desk Officer in the               minutes.
                                                  to these communities.                                     Office of Information and Regulatory                     • Total Estimated Burden Time: 100
                                                     The purpose of this meeting is to                      Affairs at the Office of Management and               hours annually.
                                                  discuss following issues pertaining to                    Budget (OMB) and to the Office of                        • Frequency: One time per
                                                  the CUC Advisory Board.:                                  Medical Services, U.S. Department of                  deployment to ESCAPE post.
                                                  —Provide information on key SBA                           State. All public comments must be                       • Obligation to respond: Mandatory.
                                                     programs                                               received by May 16, 2016.                                We are soliciting public comments to
                                                  —Board Assignments                                           You may submit comments to OMB                     permit the Department to:
                                                  —Determine the 2016 CUC Agenda                                                                                     • Evaluate whether the proposed
mstockstill on DSK3G9T082PROD with NOTICES




                                                                                                            by the following methods:
                                                  FOR FURTHER INFORMATION CONTACT: The                         • Email: oira_submission@                          information collection is necessary for
                                                  meeting is open to the public however                     omb.eop.gov. You must include the DS                  the proper functions of the Department.
                                                  advance notice of attendance is                           form number, information collection                      • Evaluate the accuracy of our
                                                  requested. Anyone wishing to be a                         title, and OMB control number in the                  estimate of the time and cost burden of
                                                  listening participant must contact                        subject line of your message.                         this proposed collection, including the
                                                                                                               • Fax: 202–395–5806. Attention: Desk               validity of the methodology and
                                                    17 17   CFR 200.30–3(a)(12).                            Officer for Department of State.                      assumptions used.


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Document Created: 2018-02-07 14:49:54
Document Modified: 2018-02-07 14:49:54
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 28110 

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