81 FR 33720 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the Exchange's Schedule of Fees and Charges To Eliminate the Listing Fee in Connection With Exchange Listing of Certain Exchange Traded Products
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 103 (May 27, 2016)
Federal Register Volume 81, Issue 103 (May 27, 2016)
| Page Range | 33720-33722 | |
| FR Document | 2016-12510 |
[Federal Register Volume 81, Number 103 (Friday, May 27, 2016)] [Notices] [Pages 33720-33722] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-12510] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77883; File No. SR-NYSEArca-2016-69] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the Exchange's Schedule of Fees and Charges To Eliminate the Listing Fee in Connection With Exchange Listing of Certain Exchange Traded Products May 23, 2016. Pursuant to section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on May 10, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') 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 self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the Exchange's Schedule of Fees and Charges (``Fee Schedule'') to eliminate the Listing Fee in connection with Exchange listing of certain Exchange Traded Products, effective May 10, 2016. The proposed rule change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization 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 those 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose Currently, the Exchange's Schedule of Fees and Charges (``Schedule'') provides that an issuer of a new Exchange Traded Product \4\ (with the exception of Managed Fund Shares and Managed Trust Securities) shall pay a ``Listing Fee'' of $7,500 and an issuer of Managed Fund Shares and Managed Trust Securities shall pay a Listing Fee of $10,000. --------------------------------------------------------------------------- \4\ For the purposes of the Schedule, the term ``Exchange Traded Products'' includes securities described in NYSE Arca Equities Rules 5.2(j)(3) (Investment Company Units); 8.100 (Portfolio Depositary Receipts); 8.200 (Trust Issued Receipts); 8.201 (Commodity-Based Trust Shares); 8.202 (Currency Trust Shares); 8.203 (Commodity Index Trust Shares); 8.204 (Commodity Futures Trust Shares); 8.300 (Partnership Units); 8.500 (Trust Units); 8.600 (Managed Fund Shares), and 8.700 (Managed Trust Securities). --------------------------------------------------------------------------- The Exchange proposes to amend the Fee Schedule to eliminate the Listing Fee in connection with Exchange listing of certain Exchange Traded Products (``ETPs'') effective May 10, 2016, as described below. Exchange rules applicable to listing of certain ETPs provide for listing such products pursuant to Rule 19b-4(e) under the Act if they satisfy all criteria--referred to as ``generic'' listing criteria--in the [[Page 33721]] applicable Exchange ETP rule. If an ETP does not satisfy all applicable generic criteria, the Commission must approve or issue a notice of effectiveness with respect to a proposed rule change filed by the Exchange pursuant to Section 19(b) of the Act prior to Exchange listing of such ETP. The Exchange has determined to eliminate the Listing Fee for the following ETPs listed on the Exchange pursuant to Rule 19b-4(e) under the Act, and for which a proposed rule change pursuant to Section 19(b) of the Act is not required to be filed with the Commission: Investment Company Units; Portfolio Depositary Receipts; and Currency Trust Shares (collectively, ``Generically-Listed Exchange Traded Products''). Thus, no Listing Fee will be payable by an issuer of a Generically-Listed Exchange Traded Product, as defined above. Other ETPs--specifically, Trust Issued Receipts,\5\ Commodity-Based Trust Shares, Commodity Index Trust Shares, Commodity Futures Trust Shares, Partnership Units, Trust Units, and non-generically-listed Investment Company Units, Portfolio Depositary Receipts and Currency Trust Shares--would continue to be subject to a Listing Fee of $7,500.\6\ Managed Fund Shares and Managed Trust Securities would continue to be subject to a Listing Fee of $10,000. --------------------------------------------------------------------------- \5\ Commentary .01 to NYSE Arca Equities Rule 8.200 provides generic standards for listing Trust Issued Receipts pursuant to Rule 19b-4(e) under the Act. However, the Exchange does not currently intend to list Trust Issued Receipts under Commentary .01, but instead lists Trust Issued Receipts under Commentary .02 to NYSE Arca Equities Rule 8.200, which does not provide generic standards for listing pursuant to Rule 19b-4(e) under the Act. Before listing any Trust Issued Receipts pursuant to Commentary .01 to NYSE Arca Equities Rule 8.200, the Exchange will first file a proposed rule change with respect to the Listing Fee applicable to any such generically-listed securities. \6\ Exchange rules applicable to Trust Issued Receipts (Commentary .02 to NYSE Arca Equities Rule 8.200); Commodity-Based Trust Shares (NYSE Arca Equities Rule 8.201), Commodity Index Trust Shares (NYSE Arca Equities Rule 8.203), Commodity Futures Trust Shares (NYSE Arca Equities Rule 8.204), Partnership Units (NYSE Arca Equities Rule 8.300), and Trust Units (NYSE Arca Equities Rule 8.500) do not provide for listing pursuant to Rule 19b-4(e) under the Act. --------------------------------------------------------------------------- Elimination of the Listing Fee for Generically-Listed Exchange Traded Products would provide [sic] would help correlate the Listing Fee applicable to an issue of ETPs to the resources required to list such ETPs on the Exchange. The Exchange believes it is appropriate to continue to charge a Listing Fee for ETPs for which a proposed rule change pursuant to Section 19(b) of the Act is required to be filed because of the additional time and resources required by Exchange staff to prepare and review such filings and to communicate with issuers and the Commission regarding such filings. Application of a Listing Fee for Managed Fund Shares and Managed Trust Securities is appropriate because the Exchange generally incurs increased costs in connection with the rule-making process, listing administration process, issuer services, and consultative legal services where a proposed rule change pursuant to Section 19(b) of the Act is required to be filed with the Commission. Annual Fees set forth in the Fee Schedule applicable to ETPs would remain unchanged. Notwithstanding the elimination of the Listing Fee applicable to certain ETPs, as described above, the Exchange will continue to be able to fund its regulatory obligations. 2. Statutory Basis NYSE Arca believes that the proposal is consistent with section 6(b) \7\ of the Act, in general, and section 6(b)(4) \8\ of the Act in particular, in that it provides for the equitable allocation of reasonable dues, fees and other charges among its issuers and other persons using its facilities. In addition, the Exchange believes the proposal is consistent with the requirement under section 6(b)(5) \9\ that an exchange have rules that are 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, in general, to protect investors and the public interest; and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. The proposed elimination of the Listing Fee for Generically-Listed ETPs, as described above, is equitable and does not unfairly discriminate between issuers because it would apply uniformly to all Investment Company Units; Portfolio Depositary Receipts; and Currency Trust Shares that are listed generically under Exchange rules. The Exchange believes eliminating the Listing Fee for Generically-Listed ETPs, as described above, and continuing to impose Listing Fees for ETPs that are not generically listed is reasonable given the additional resources required by the Exchange in connection with ETPs requiring a proposed rule change pursuant to section 19(b). The Exchange believes it is appropriate to continue to charge a Listing Fee for ETPs for which a proposed rule change pursuant to section 19(b) of the Act is required to be filed because of the significant additional extensive time, legal and business resources required by Exchange staff to prepare and review such filings and to communicate with issuers and the Commission regarding such filings. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(4). \9\ 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 purpose of the Act. The Exchange believes the proposed rule change would promote competition because it will eliminate the Listing Fee for certain ETPs and will therefore encourage issuers to develop and list additional ETP issues on the Exchange. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to section 19(b)(3)(A) \10\ of the Act and subparagraph (f)(2) of Rule 19b-4 \11\ thereunder. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). \11\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- 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. [[Page 33722]] 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-NYSEArca-2016-69 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-NYSEArca-2016-69. 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-NYSEArca-2016-69 and should be submitted on or before June 17, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-12510 Filed 5-26-16; 8:45 am] BILLING CODE 8011-01-P
![33720 Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices
C. Self-Regulatory Organization’s Commission and any person, other than I. Self-Regulatory Organization’s
Statement on Comments on the those that may be withheld from the Statement of the Terms of Substance of
Proposed Rule Change Received From public in accordance with the the Proposed Rule Change
Members, Participants, or Others provisions of 5 U.S.C. 552, will be The Exchange proposes to amend the
The Exchange has not solicited, and available for Web site viewing and Exchange’s Schedule of Fees and
does not intend to solicit, comments on printing in the Commission’s Public Charges (‘‘Fee Schedule’’) to eliminate
this proposed rule change. The Reference Room, 100 F Street NE., the Listing Fee in connection with
Exchange has not received any written Washington, DC 20549 on official Exchange listing of certain Exchange
comments from members or other business days between the hours of Traded Products, effective May 10,
interested parties. 10:00 a.m. and 3:00 p.m. Copies of such 2016. The proposed rule change is
filing also will be available for available on the Exchange’s Web site at
III. Date of Effectiveness of the
inspection and copying at the principal www.nyse.com, at the principal office of
Proposed Rule Change and Timing for
office of the Exchange. All comments the Exchange, and at the Commission’s
Commission Action
received will be posted without change; Public Reference Room.
The foregoing rule change has become the Commission does not edit personal
effective pursuant to section 19(b)(3)(A) II. Self-Regulatory Organization’s
identifying information from Statement of the Purpose of, and
of the Act 9 and paragraph (f) of Rule
submissions. You should submit only Statutory Basis for, the Proposed Rule
19b–4 thereunder.10 At any time within
60 days of the filing of the proposed rule information that you wish to make Change
change, the Commission summarily may available publicly. All submissions
In its filing with the Commission, the
temporarily suspend such rule change if should refer to File Number SR– self-regulatory organization included
it appears to the Commission that such BatsBZX–2016–17, and should be statements concerning the purpose of,
action is necessary or appropriate in the submitted on or before June 17, 2016. and basis for, the proposed rule change
public interest, for the protection of For the Commission, by the Division of and discussed any comments it received
investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated on the proposed rule change. The text
the purposes of the Act. authority.11 of those statements may be examined at
IV. Solicitation of Comments Robert W. Errett, the places specified in Item IV below.
Deputy Secretary. The Exchange has prepared summaries,
Interested persons are invited to set forth in sections A, B, and C below,
submit written data, views, and [FR Doc. 2016–12511 Filed 5–26–16; 8:45 am]
of the most significant parts of such
arguments concerning the foregoing, BILLING CODE 8011–01–P
statements.
including whether the proposed rule
change is consistent with the Act. A. Self-Regulatory Organization’s
Comments may be submitted by any of SECURITIES AND EXCHANGE Statement of the Purpose of, and the
the following methods: COMMISSION Statutory Basis for, the Proposed Rule
Change
Electronic Comments
[Release No. 34–77883; File No. SR– 1. Purpose
• Use the Commission’s Internet NYSEArca–2016–69]
comment form (http://www.sec.gov/ Currently, the Exchange’s Schedule of
rules/sro.shtml); or Self-Regulatory Organizations; NYSE Fees and Charges (‘‘Schedule’’) provides
• Send an email to rule-comments@ Arca, Inc.; Notice of Filing and that an issuer of a new Exchange Traded
sec.gov. Please include File Number SR– Immediate Effectiveness of Proposed Product 4 (with the exception of
BatsBZX–2016–17 on the subject line. Managed Fund Shares and Managed
Rule Change Amending the
Trust Securities) shall pay a ‘‘Listing
Paper Comments Exchange’s Schedule of Fees and
Fee’’ of $7,500 and an issuer of Managed
• Send paper comments in triplicate Charges To Eliminate the Listing Fee
Fund Shares and Managed Trust
to Brent J. Fields, Secretary, Securities in Connection With Exchange Listing
Securities shall pay a Listing Fee of
and Exchange Commission, 100 F Street of Certain Exchange Traded Products $10,000.
NE., Washington, DC 20549–1090. May 23, 2016. The Exchange proposes to amend the
All submissions should refer to File Fee Schedule to eliminate the Listing
Number SR–BatsBZX–2016–17. This file Pursuant to section 19(b)(1) 1 of the Fee in connection with Exchange listing
number should be included on the Securities Exchange Act of 1934 (the of certain Exchange Traded Products
subject line if email is used. To help the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 (‘‘ETPs’’) effective May 10, 2016, as
Commission process and review your notice is hereby given that, on May 10, described below. Exchange rules
comments more efficiently, please use 2016, NYSE Arca, Inc. (the ‘‘Exchange’’ applicable to listing of certain ETPs
only one method. The Commission will or ‘‘NYSE Arca’’) filed with the provide for listing such products
post all comments on the Commission’s Securities and Exchange Commission pursuant to Rule 19b–4(e) under the Act
Internet Web site (http://www.sec.gov/ (the ‘‘Commission’’) the proposed rule if they satisfy all criteria—referred to as
rules/sro.shtml). Copies of the change as described in Items I and II ‘‘generic’’ listing criteria—in the
submission, all subsequent below, which Items have been prepared
amendments, all written statements by the self-regulatory organization. The 4 For the purposes of the Schedule, the term
Commission is publishing this notice to ‘‘Exchange Traded Products’’ includes securities
sradovich on DSK3TPTVN1PROD with NOTICES
with respect to the proposed rule described in NYSE Arca Equities Rules 5.2(j)(3)
change that are filed with the solicit comments on the proposed rule (Investment Company Units); 8.100 (Portfolio
Commission, and all written change from interested persons. Depositary Receipts); 8.200 (Trust Issued Receipts);
communications relating to the 8.201 (Commodity-Based Trust Shares); 8.202
(Currency Trust Shares); 8.203 (Commodity Index
proposed rule change between the 11 17 CFR 200.30–3(a)(12). Trust Shares); 8.204 (Commodity Futures Trust
1 15 U.S.C. 78s(b)(1). Shares); 8.300 (Partnership Units); 8.500 (Trust
9 15 U.S.C. 78s(b)(3)(A). 2 15 U.S.C. 78a.
Units); 8.600 (Managed Fund Shares), and 8.700
10 17 CFR 240.19b–4(f). 3 17 CFR 240.19b–4. (Managed Trust Securities).
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applicable Exchange ETP rule. If an ETP be filed because of the additional time the additional resources required by the
does not satisfy all applicable generic and resources required by Exchange Exchange in connection with ETPs
criteria, the Commission must approve staff to prepare and review such filings requiring a proposed rule change
or issue a notice of effectiveness with and to communicate with issuers and pursuant to section 19(b). The Exchange
respect to a proposed rule change filed the Commission regarding such filings. believes it is appropriate to continue to
by the Exchange pursuant to Section Application of a Listing Fee for charge a Listing Fee for ETPs for which
19(b) of the Act prior to Exchange listing Managed Fund Shares and Managed a proposed rule change pursuant to
of such ETP. Trust Securities is appropriate because section 19(b) of the Act is required to be
The Exchange has determined to the Exchange generally incurs increased filed because of the significant
eliminate the Listing Fee for the costs in connection with the rule- additional extensive time, legal and
following ETPs listed on the Exchange making process, listing administration business resources required by
pursuant to Rule 19b–4(e) under the process, issuer services, and Exchange staff to prepare and review
Act, and for which a proposed rule consultative legal services where a such filings and to communicate with
change pursuant to Section 19(b) of the proposed rule change pursuant to issuers and the Commission regarding
Act is not required to be filed with the Section 19(b) of the Act is required to such filings.
Commission: Investment Company be filed with the Commission.
Annual Fees set forth in the Fee B. Self-Regulatory Organization’s
Units; Portfolio Depositary Receipts;
Schedule applicable to ETPs would Statement on Burden on Competition
and Currency Trust Shares (collectively,
‘‘Generically-Listed Exchange Traded remain unchanged. The Exchange does not believe that
Products’’). Thus, no Listing Fee will be Notwithstanding the elimination of the proposed rule change will impose
payable by an issuer of a Generically- the Listing Fee applicable to certain any burden on competition that is not
Listed Exchange Traded Product, as ETPs, as described above, the Exchange necessary or appropriate in furtherance
defined above. will continue to be able to fund its of the purpose of the Act. The Exchange
Other ETPs—specifically, Trust regulatory obligations. believes the proposed rule change
Issued Receipts,5 Commodity-Based 2. Statutory Basis would promote competition because it
Trust Shares, Commodity Index Trust will eliminate the Listing Fee for certain
NYSE Arca believes that the proposal ETPs and will therefore encourage
Shares, Commodity Futures Trust is consistent with section 6(b) 7 of the
Shares, Partnership Units, Trust Units, issuers to develop and list additional
Act, in general, and section 6(b)(4) 8 of ETP issues on the Exchange.
and non-generically-listed Investment
the Act in particular, in that it provides
Company Units, Portfolio Depositary C. Self-Regulatory Organization’s
for the equitable allocation of reasonable
Receipts and Currency Trust Shares— Statement on Comments on the
dues, fees and other charges among its
would continue to be subject to a Listing Proposed Rule Change Received From
issuers and other persons using its
Fee of $7,500.6 Managed Fund Shares Members, Participants, or Others
facilities. In addition, the Exchange
and Managed Trust Securities would believes the proposal is consistent with
continue to be subject to a Listing Fee No written comments were solicited
the requirement under section 6(b)(5) 9 or received with respect to the proposed
of $10,000.
that an exchange have rules that are rule change.
Elimination of the Listing Fee for
designed to prevent fraudulent and
Generically-Listed Exchange Traded III. Date of Effectiveness of the
manipulative acts and practices, to
Products would provide [sic] would Proposed Rule Change and Timing for
promote just and equitable principles of
help correlate the Listing Fee applicable Commission Action
trade, to foster cooperation and
to an issue of ETPs to the resources
coordination with persons engaged in The foregoing rule change is effective
required to list such ETPs on the
regulating, clearing, settling, processing upon filing pursuant to section
Exchange. The Exchange believes it is
information with respect to, and 19(b)(3)(A) 10 of the Act and
appropriate to continue to charge a
facilitating transactions in securities, to subparagraph (f)(2) of Rule 19b–4 11
Listing Fee for ETPs for which a
remove impediments to, and perfect the thereunder.
proposed rule change pursuant to
mechanism of a free and open market At any time within 60 days of the
Section 19(b) of the Act is required to
and, in general, to protect investors and filing of the proposed rule change, the
5 Commentary .01 to NYSE Arca Equities Rule
the public interest; and are not designed Commission summarily may
8.200 provides generic standards for listing Trust to permit unfair discrimination between temporarily suspend such rule change if
Issued Receipts pursuant to Rule 19b–4(e) under the customers, issuers, brokers, or dealers. it appears to the Commission that such
Act. However, the Exchange does not currently The proposed elimination of the Listing action is: (i) Necessary or appropriate in
intend to list Trust Issued Receipts under
Commentary .01, but instead lists Trust Issued
Fee for Generically-Listed ETPs, as the public interest; (ii) for the protection
Receipts under Commentary .02 to NYSE Arca described above, is equitable and does of investors; or (iii) otherwise in
Equities Rule 8.200, which does not provide generic not unfairly discriminate between furtherance of the purposes of the Act.
standards for listing pursuant to Rule 19b–4(e) issuers because it would apply If the Commission takes such action, the
under the Act. Before listing any Trust Issued
Receipts pursuant to Commentary .01 to NYSE Arca
uniformly to all Investment Company Commission shall institute proceedings
Equities Rule 8.200, the Exchange will first file a Units; Portfolio Depositary Receipts; to determine whether the proposed rule
proposed rule change with respect to the Listing and Currency Trust Shares that are should be approved or disapproved.
Fee applicable to any such generically-listed listed generically under Exchange rules.
securities.
The Exchange believes eliminating the IV. Solicitation of Comments
6 Exchange rules applicable to Trust Issued
sradovich on DSK3TPTVN1PROD with NOTICES
Receipts (Commentary .02 to NYSE Arca Equities Listing Fee for Generically-Listed ETPs, Interested persons are invited to
Rule 8.200); Commodity-Based Trust Shares (NYSE as described above, and continuing to submit written data, views, and
Arca Equities Rule 8.201), Commodity Index Trust impose Listing Fees for ETPs that are arguments concerning the foregoing,
Shares (NYSE Arca Equities Rule 8.203), not generically listed is reasonable given including whether the proposed rule
Commodity Futures Trust Shares (NYSE Arca
Equities Rule 8.204), Partnership Units (NYSE Arca
change is consistent with the Act.
7 15 U.S.C. 78f(b).
Equities Rule 8.300), and Trust Units (NYSE Arca
8 15 U.S.C. 78f(b)(4). 10 15 U.S.C. 78s(b)(3)(A).
Equities Rule 8.500) do not provide for listing
pursuant to Rule 19b–4(e) under the Act. 9 15 U.S.C. 78f(b)(5). 11 17 CFR 240.19b–4(f)(2).
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![33722 Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices
Comments may be submitted by any of SECURITIES AND EXCHANGE places specified in Item IV below. The
the following methods: COMMISSION Exchange has prepared summaries, set
forth in sections A, B, and C below, of
Electronic Comments [Release No. 34–77886; File No. SR–
the most significant parts of such
BatsBYX–2016–08]
• Use the Commission’s Internet statements.
comment form (http://www.sec.gov/ Self-Regulatory Organizations; Bats A. Self-Regulatory Organization’s
rules/sro.shtml); or BYX Exchange, Inc.; Notice of Filing Statement of the Purpose of, and the
and Immediate Effectiveness of a Statutory Basis for, the Proposed Rule
• Send an email to rule-comments@
Proposed Change to the Market Data Change
sec.gov. Please include File Number SR–
Section of Its Fee Schedule
NYSEArca–2016–69 on the subject line. 1. Purpose
May 23, 2016. The Exchange proposes to amend the
Paper Comments
Pursuant to section 19(b)(1) of the Market Data section of its fee schedule
• Send paper comments in triplicate Securities Exchange Act of 1934 (the to: (i) Decrease the External Distribution
to, Secretary, Securities and Exchange ‘‘Act’’),1 and Rule 19b–4 thereunder,2 and User fees for the BYX Top and BYX
Commission, 100 F Street NE., notice is hereby given that on May 17, Last Sale feeds; and (ii) amend the New
Washington, DC 20549–1090. 2016, Bats BYX Exchange, Inc. (the External Distributor Credit for the BYX
‘‘Exchange’’ or ‘‘BYX’’) filed with the Top, BYX Last Sale, and Bats One
All submissions should refer to File Securities and Exchange Commission Feeds.
Number SR–NYSEArca–2016–69. This (‘‘Commission’’) the proposed rule
file number should be included on the change as described in Items I, II and III BYX Top and Last Sale Fees
subject line if email is used. To help the below, which Items have been prepared BYX Top is a market data feed that
Commission process and review your by the Exchange. The Exchange has includes top of book quotations and
comments more efficiently, please use designated the proposed rule change as execution information for all equity
only one method. The Commission will one establishing or changing a member securities traded on the Exchange.5 BYX
post all comments on the Commission’s due, fee, or other charge imposed by the Last Sale is a market data feed that
Internet Web site (http://www.sec.gov/ Exchange under section 19(b)(3)(A)(ii) includes last sale information for all
rules/sro.shtml). Copies of the of the Act 3 and Rule 19b–4(f)(2) equity securities traded on Exchange.6
submission, all subsequent thereunder,4 which renders the The Exchange proposes to decrease the
amendments, all written statements proposed rule change effective upon External Distribution and User fees for
with respect to the proposed rule filing with the Commission. The the BYX Top and BYX Last Sale feeds.7
change that are filed with the Commission is publishing this notice to The Exchange currently charges an
Commission, and all written solicit comments on the proposed rule External Distributor 8 of BYX Last Sale
communications relating to the change from interested persons. a flat fee of $1,250 per month. The
Exchange also separately charges an
proposed rule change between the I. Self-Regulatory Organization’s External Distributor of BYX Top a flat
Commission and any person, other than Statement of the Terms of Substance of fee of $1,250 per month.9 The Exchange
those that may be withheld from the the Proposed Rule Change
public in accordance with the The Exchange filed a proposal to 5 See Exchange Rule 11.22(d).
provisions of 5 U.S.C. 552, will be amend the Market Data section of its fee 6 See Exchange Rule 11.22(g).
available for Web site viewing and schedule to: (i) Decrease the External
7 The Exchange notes that Bats EDGA Exchange,
printing in the Commission’s Public Inc. (‘‘EDGA’’) and Bats EDGX Exchange, Inc.
Distribution and User fees for the BYX (‘‘EDGX’’) also filed proposed rule changes with
Reference Room, 100 F Street NE., Top and BYX Last Sale feeds; and (ii) Commission to amend similar fees for their
Washington, DC 20549 on official amend the New External Distributor respective Top and Last Sale market data products.
business days between the hours of See File Nos. SR–BatsEDGA–2016–09 and SR–
Credit for the BYX Top, BYX Last Sale, BatsEDGX–2016–18. The Exchange represents that
10:00 a.m. and 3:00 p.m. Copies of the and Bats One Feeds. the proposed fees will continue to not cause the
filing also will be available for The text of the proposed rule change combined cost of subscribing to EDGX, EDGA, BYX,
inspection and copying at the principal is available at the Exchange’s Web site and Bats BZX Exchange Inc.’s (‘‘BZX’’) individual
Top and Last Sale feeds to be greater than those
office of the Exchange. All comments at www.batstrading.com, at the currently charged to subscribe to the Bats One Feed.
received will be posted without change; principal office of the Exchange, and at See Securities Exchange Act Release Nos. 74285
the Commission does not edit personal the Commission’s Public Reference (February 18, 2015), 80 FR 9828 (February 24, 2015)
Room. (SR–BATS–2015–11); 74283 (February 18, 2015), 80
identifying information from FR 9809 (February 24, 2015) (SR–EDGA–2015–09);
submissions. You should submit only II. Self-Regulatory Organization’s 74282 (February 17, 2015), 80 FR 9487 (February
information that you wish to make 23, 2015) (SR–EDGX–2015–09); and 74284
Statement of the Purpose of, and (February 18, 2015), 80 FR 9792 (February 24, 2015)
available publicly. All submissions Statutory Basis for, the Proposed Rule (SR–BYX–2015–09) (‘‘Initial Bats One Feed Fee
should refer to File Number SR– Change Filings’’). In these filings, the Exchange represented
NYSEArca–2016–69 and should be that the cost of subscribing to each of the
In its filing with the Commission, the underlying individual feeds necessary to create the
submitted on or before June 17, 2016. Exchange included statements Bats One Feed would not be greater than the cost
For the Commission, by the Division of concerning the purpose of and basis for of subscribing to the Bats One Feed. Id.
8 An ‘‘External Distributor’’ of an Exchange
Trading and Markets, pursuant to delegated the proposed rule change and discussed Market Data product is defined as ‘‘a Distributor
sradovich on DSK3TPTVN1PROD with NOTICES
authority.12 any comments it received on the that receives the Exchange Market Data product and
Robert W. Errett, proposed rule change. The text of these then distributes that data to a third party or one or
statements may be examined at the more Users outside the Distributor’s own entity.’’
Deputy Secretary. See the Exchange Fee Schedule available at http://
[FR Doc. 2016–12510 Filed 5–26–16; 8:45 am] batstrading.com/support/fee_schedule/byx/.
1 15 U.S.C. 78s(b)(1). 9 Subscribers to either BYX Top or BYX Last Sale
BILLING CODE 8011–01–P 2 17 CFR 240.19b–4. are able to receive, upon request and at no
3 15 U.S.C. 78s(b)(3)(A)(ii).
additional cost, BYX Last Sale or BYX Top, as
12 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(2). applicable.
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Document Created: 2018-02-07 15:10:16
Document Modified: 2018-02-07 15:10:16
| 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 33720 |
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