81 FR 30572 - Sunshine Act Meeting

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 95 (May 17, 2016)

Page Range		30572-30573
FR Document		2016-11704

Federal Register, Volume 81 Issue 95 (Tuesday, May 17, 2016)

[Federal Register Volume 81, Number 95 (Tuesday, May 17, 2016)]
[Notices]
[Pages 30572-30573]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-11704]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold a closed meeting on Thursday, May 19, 
2016 at 2 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the 
Commission, and recording secretaries will attend the closed meeting. 
Certain staff members who have an interest in the matters also may be 
present.
    The General Counsel of the Commission, or her designee, has 
certified that, in her opinion, one or more of the exemptions set forth 
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 
200.402(a)(3), (a)(5), (a)(7), (a)(9)(ii) and (10), permit 
consideration of the scheduled matter at the closed meeting.
    Commissioner Piwowar, as duty officer, voted to consider the items 
listed for the closed meeting in closed session.
    The subject matter of the closed meeting will be:

Institution and settlement of injunctive actions;

[[Page 30573]]

Institution and settlement of administrative proceedings;
Resolution of litigation claims;
Formal orders of investigation; and
Other matters relating to enforcement proceedings.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact Brent J. Fields from 
the Office of the Secretary at (202) 551-5400.

    Dated: May 12, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-11704 Filed 5-13-16; 4:15 pm]
BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 95 / Tuesday, May 17, 2016 / Notices 30573

Institution and settlement of notice is hereby given that, on May 2, places specified in Item IV below. The
administrative proceedings; 2016, NASDAQ PHLX LLC (‘‘Phlx’’ or Exchange has prepared summaries, set
Resolution of litigation claims; ‘‘Exchange’’) filed with the Securities forth in sections A, B, and C below, of
Formal orders of investigation; and and Exchange Commission the most significant aspects of such
Other matters relating to enforcement (‘‘Commission’’) the proposed rule statements.
proceedings. change as described in Items I, II, and
A. Self-Regulatory Organization’s
At times, changes in Commission III, below, which Items have been
Statement of the Purpose of, and
priorities require alterations in the prepared by the Exchange. The
Statutory Basis for, the Proposed Rule
scheduling of meeting items. Commission is publishing this notice to
Change
For further information and to solicit comments on the proposed rule
ascertain what, if any, matters have been change from interested persons. 1. Purpose
added, deleted or postponed, please I. Self-Regulatory Organization’s The purpose of the proposed rule
contact Brent J. Fields from the Office of Statement of the Terms of Substance of change is to amend the Exchange’s
the Secretary at (202) 551–5400. the Proposed Rule Change Pricing Schedule at Section B, entitled
Dated: May 12, 2016. The Exchange proposes to amend the ‘‘Customer Rebate Program.’’
Brent J. Fields, Exchange’s Pricing Schedule at Section Specifically, the Exchange is proposing
Secretary. B, entitled ‘‘Customer Rebate Program.’’ to exclude options overlying NDX 3 and
[FR Doc. 2016–11704 Filed 5–13–16; 4:15 pm] The text of the proposed rule change MNX 4 from receiving a Customer 5
BILLING CODE 8011–01–P is available on the Exchange’s Web site rebate.
at http:// Currently, the Exchange has a
nasdaqomxphlx.cchwallstreet.com/, at Customer Rebate Program consisting of
SECURITIES AND EXCHANGE the principal office of the Exchange, and five tiers that pay Customer rebates on
COMMISSION at the Commission’s Public Reference three Categories, A,6 B 7 and C 8 of
Room. transactions.9 A Phlx member qualifies
[Release No. 34–77811; File No. SR–Phlx– for a certain rebate tier based on the
2016–57] II. Self-Regulatory Organization’s percentage of total national customer
Statement of the Purpose of, and volume in multiply-listed options that it
Self-Regulatory Organizations; Statutory Basis for, the Proposed Rule
NASDAQ PHLX LLC; Notice of Filing transacts monthly on Phlx. The
Change Exchange calculates Customer volume
and Immediate Effectiveness of
Proposed Rule Change Related to In its filing with the Commission, the in Multiply Listed Options by totaling
Customer Rebates Exchange included statements electronically-delivered and executed
concerning the purpose of and basis for volume, excluding volume associated
May 11, 2016. the proposed rule change and discussed with electronic Qualified Contingent
Pursuant to Section 19(b)(1) of the any comments it received on the Cross (‘‘QCC’’) Orders,10 as defined in
Securities Exchange Act of 1934 proposed rule change. The text of these Exchange Rule 1080(o).11 The Exchange
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 statements may be examined at the pays the following rebates: 12

Percentage thresholds of national customer volume in
multiply-listed equity and ETF options classes,
Customer rebate tiers Category A Category B Category C
excluding spy options
(monthly)

Tier 1 ....................................... 0.00%–0.60% ......................................................................... $0.00 $0.00 $0.00
Tier 2 ....................................... Above 0.60%–1.10% .............................................................. 0.10 0.10 0.17
Tier 3 ....................................... Above 1.10%–1.60% .............................................................. 0.15 0.12 0.17
Tier 4 ....................................... Above 1.60%–2.50% .............................................................. 0.20 0.16 0.22
Tier 5 ....................................... Above 2.50% .......................................................................... 0.21 0.17 0.22

1 15 U.S.C. 78s(b)(1). Orders that execute against a PIXL Initiating Order trade, as that term is defined in Rule 1080(o)(3),
2 17 CFR 240.19b–4. are paid a rebate of $0.14 per contract. Rebates on coupled with a contra-side order or orders totaling
3 NDX represents options on the Nasdaq 100 Customer PIXL Orders are capped at 4,000 contracts an equal number of contracts. See Rule 1080(o).
Index traded under the symbol NDX (‘‘NDX’’). per order for Simple PIXL Orders. 11 Members and member organizations under
8 Category C rebates are paid to members
4 MNX represents options on the one-tenth value common ownership may aggregate their Customer
executing electronically-delivered Customer volume for purposes of calculating the Customer
of the Nasdaq 100 Index traded under the symbol
Complex Orders in Penny Pilot Options and Non- Rebate Tiers and receiving rebates. Common
MNX (‘‘MNX’’).
5 The term ‘‘Customer’’ applies to any transaction
Penny Pilot Options in Section II symbols. Rebates ownership means members or member
are paid on Customer PIXL Complex Orders in organizations under 75% common ownership or
that is identified by a member or member Section II symbols that execute against non-
organization for clearing in the Customer range at control. See the Preface of the Pricing Schedule.
Initiating Order interest. Customer Complex PIXL 12 SPY is included in the calculation of Customer
The Options Clearing Corporation which is not for Orders that execute against a Complex PIXL
the account of a broker or dealer or for the account Initiating Order are not paid a rebate under any volume in Multiply Listed Options that are
of a ‘‘Professional’’ (as that term is defined in Rule circumstances. The Category C Rebate is paid [sic] electronically-delivered and executed for purposes
1000(b)(14)). when an electronically-delivered Customer of the Customer Rebate Program, however, the
6 Category A rebates are paid to members Complex Order, including Customer Complex PIXL rebates do not apply to electronic executions in
jstallworth on DSK7TPTVN1PROD with NOTICES

executing electronically-delivered Customer Simple Order, executes against another electronically- SPY. Additionally, the Exchange pays a $0.02 per
Orders in Penny Pilot Options and Customer delivered Customer Complex Order. Rebates on contract Category A and B rebate and a $0.03 per
Simple Orders in Non-Penny Pilot Options in Customer PIXL Orders are capped at 4,000 contracts contract Category C rebate in addition to the
Section II symbols. per order leg for Complex PIXL Orders. applicable Tier 2 and 3 rebate to a Specialist or
7 Category B rebates are paid on Customer PIXL 9 See Section B of the Pricing Schedule. Market Maker or its member or member
Orders in Section II symbols that execute against 10 A QCC Order is comprised of an originating organization affiliate under Common Ownership
non-Initiating Order interest. In the instance where order to buy or sell at least 1,000 contracts, or provided the Specialist or Market Maker has
member organizations qualify for Tier 4 or higher 10,000 contracts in the case of Mini Options, that reached the Monthly Market Maker Cap, as defined
in the Customer Rebate Program, Customer PIXL is identified as being part of a qualified contingent in Section II. See Section B of the Pricing Schedule.

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Document Created: 2018-02-07 15:05:32
Document Modified: 2018-02-07 15:05:32

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 30572