81 FR 3489 - Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete Obsolete Rules 1000B-1012B and To Amend Rule 722
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 13 (January 21, 2016)
Federal Register Volume 81, Issue 13 (January 21, 2016)
| Page Range | 3489-3490 | |
| FR Document | 2016-01060 |
[Federal Register Volume 81, Number 13 (Thursday, January 21, 2016)] [Notices] [Pages 3489-3490] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-01060] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76910; File No. SR-Phlx-2016-02] Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delete Obsolete Rules 1000B-1012B and To Amend Rule 722 January 14, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'')\1\, and Rule 19b-4 thereunder,\2\ notice is hereby given that on January 5, 2016, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'') filed with the Securities and Exchange Commission (``SEC'' or ``Commission'') the proposed rule change as described in Items I, II, and III, below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 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 delete obsolete Rules 1000B--1012B, collectively captioned Rules Applicable to Trading of Cash Index Participations, and to amend Rule 722, Miscellaneous Securities Margin Accounts. The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqomxphlx.cchwallstreet.com/, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Cash Index Participations (``CIPs'') were listed on the Exchange in the late 1980s.\3\ A CIP was a security based on the spot value of an index of stocks, of indeterminate duration, and paying its purchasers a proportionate share of dividends declared on the component stocks of the CIP. CIPs are no longer listed or traded on Phlx. Accordingly the Exchange proposes to delete the caption ``Rules Applicable to Trading of Cash Index Participations (Rules 1000B-1012B)'' found immediately before Rule 1000B. It also proposes to delete the text following Rule 1000B and replace it with the word ``Reserved.'' Rules 1001B- 1012B are proposed to be deleted in their entirety. Finally, the Exchange proposes to make a conforming change to Rule 722, Miscellaneous Securities Margin Accounts, by deleting from it the language dealing with margin requirements for CIPs. --------------------------------------------------------------------------- \3\ See Securities Exchange Act Release No. 26709 (April 11, 1989), 54 FR 15280 (April 17, 1989). --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \4\ in general, and furthers the objectives of Section 6(b)(5) of the Act \5\ in particular, in that it is designed to promote just and equitable principles of trade, 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. In particular, this proposed change removes from the Phlx rulebook the Rules Applicable to Trading of Cash Index Participations. These rules are no longer applicable because they deal solely with CIPs which have not been listed or traded on Phlx for many years. Removing these CIP rules from the Phlx rulebook will help eliminate potential member and investor confusion about products listed and traded on Phlx. --------------------------------------------------------------------------- \4\ 15 U.S.C. 78f(b). \5\ 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 not necessary or appropriate in furtherance of the purposes of the Act. The proposed change is not designed to address any competitive issue but would merely remove references to CIPs that are no longer relevant to the Exchange's business in any respect. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \6\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\7\ --------------------------------------------------------------------------- \6\ 15 U.S.C. 78s(b)(3)(a)(iii). \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- 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, [[Page 3490]] including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-Phlx-2016-02 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-Phlx-2016-02. 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-Phlx-2016-02 and should be submitted on or before February 11, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\8\ --------------------------------------------------------------------------- \8\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-01060 Filed 1-20-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 13 / Thursday, January 21, 2016 / Notices 3489
the Commission does not edit personal II. Self-Regulatory Organization’s longer applicable because they deal
identifying information from Statement of the Purpose of, and solely with CIPs which have not been
submissions. You should submit only Statutory Basis for, the Proposed Rule listed or traded on Phlx for many years.
information that you wish to make Change Removing these CIP rules from the Phlx
available publicly. All submissions In its filing with the Commission, the rulebook will help eliminate potential
should refer to File Number SR– Exchange included statements member and investor confusion about
NYSEArca-2016–03 and should be products listed and traded on Phlx.
concerning the purpose of and basis for
submitted on or before February 11, the proposed rule change and discussed B. Self-Regulatory Organization’s
2016. any comments it received on the Statement on Burden on Competition
For the Commission, by the Division of proposed rule change. The text of these The Exchange does not believe that
Trading and Markets, pursuant to delegated statements may be examined at the the proposed rule change will impose
authority.34 places specified in Item IV below. The any burden on competition not
Robert W. Errett, Exchange has prepared summaries, set necessary or appropriate in furtherance
Deputy Secretary. forth in sections A, B, and C below, of of the purposes of the Act. The
[FR Doc. 2016–01063 Filed 1–20–16; 8:45 am] the most significant aspects of such proposed change is not designed to
BILLING CODE 8011–01–P
statements. address any competitive issue but
A. Self-Regulatory Organization’s would merely remove references to CIPs
Statement of the Purpose of, and that are no longer relevant to the
SECURITIES AND EXCHANGE Statutory Basis for, the Proposed Rule Exchange’s business in any respect.
COMMISSION Change C. Self-Regulatory Organization’s
1. Purpose Statement on Comments on the
[Release No. 34–76910; File No. SR–Phlx– Proposed Rule Change Received From
2016–02] Cash Index Participations (‘‘CIPs’’) Members, Participants, or Others
were listed on the Exchange in the late
Self-Regulatory Organizations; 1980s.3 A CIP was a security based on No written comments were either
NASDAQ OMX PHLX LLC; Notice of the spot value of an index of stocks, of solicited or received.
Filing and Immediate Effectiveness of indeterminate duration, and paying its III. Date of Effectiveness of the
Proposed Rule Change To Delete purchasers a proportionate share of Proposed Rule Change and Timing for
Obsolete Rules 1000B–1012B and To dividends declared on the component Commission Action
Amend Rule 722 stocks of the CIP. CIPs are no longer Because the foregoing proposed rule
listed or traded on Phlx. Accordingly change does not: (i) Significantly affect
January 14, 2016.
the Exchange proposes to delete the the protection of investors or the public
Pursuant to Section 19(b)(1) of the caption ‘‘Rules Applicable to Trading of interest; (ii) impose any significant
Securities Exchange Act of 1934 Cash Index Participations (Rules 1000B– burden on competition; and (iii) become
(‘‘Act’’)1, and Rule 19b–4 thereunder,2 1012B)’’ found immediately before Rule operative for 30 days from the date on
notice is hereby given that on January 5, 1000B. It also proposes to delete the text which it was filed, or such shorter time
2016, NASDAQ OMX PHLX LLC following Rule 1000B and replace it as the Commission may designate, it has
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the with the word ‘‘Reserved.’’ Rules become effective pursuant to Section
Securities and Exchange Commission 1001B– 1012B are proposed to be 19(b)(3)(A)(iii) of the Act 6 and
(‘‘SEC’’ or ‘‘Commission’’) the proposed deleted in their entirety. Finally, the subparagraph (f)(6) of Rule 19b–4
rule change as described in Items I, II, Exchange proposes to make a thereunder.7
and III, below, which Items have been conforming change to Rule 722, At any time within 60 days of the
prepared by the Exchange. The Miscellaneous Securities Margin filing of the proposed rule change, the
Commission is publishing this notice to Accounts, by deleting from it the Commission summarily may
solicit comments on the proposed rule language dealing with margin temporarily suspend such rule change if
change from interested persons. requirements for CIPs. it appears to the Commission that such
I. Self-Regulatory Organization’s 2. Statutory Basis action is: (i) Necessary or appropriate in
Statement of the Terms of Substance of the public interest; (ii) for the protection
The Exchange believes that its of investors; or (iii) otherwise in
the Proposed Rule Change proposal is consistent with Section 6(b) furtherance of the purposes of the Act.
The Exchange proposes to delete of the Act 4 in general, and furthers the If the Commission takes such action, the
obsolete Rules 1000B—1012B, objectives of Section 6(b)(5) of the Act 5 Commission shall institute proceedings
collectively captioned Rules Applicable in particular, in that it is designed to to determine whether the proposed rule
to Trading of Cash Index Participations, promote just and equitable principles of should be approved or disapproved.
and to amend Rule 722, Miscellaneous trade, to remove impediments to and
perfect the mechanism of a free and IV. Solicitation of Comments
Securities Margin Accounts.
open market and a national market Interested persons are invited to
The text of the proposed rule change system, and, in general to protect submit written data, views, and
is available on the Exchange’s Web site investors and the public interest. In arguments concerning the foregoing,
at http://
asabaliauskas on DSK9F6TC42PROD with NOTICES
particular, this proposed change
nasdaqomxphlx.cchwallstreet.com/, at removes from the Phlx rulebook the 6 15 U.S.C. 78s(b)(3)(a)(iii).
the principal office of the Exchange, and Rules Applicable to Trading of Cash 7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
at the Commission’s Public Reference Index Participations. These rules are no 4(f)(6) requires a self-regulatory organization to give
Room. the Commission written notice of its intent to file
the proposed rule change at least five business days
3 See Securities Exchange Act Release No. 26709
prior to the date of filing of the proposed rule
34 17 CFR 200.30–3(a)(12). (April 11, 1989), 54 FR 15280 (April 17, 1989). change, or such shorter time as designated by the
1 15 U.S.C. 78s(b)(1). 4 15 U.S.C. 78f(b).
Commission. The Exchange has satisfied this
2 17 CFR 240.19b–4. 5 15 U.S.C. 78f(b)(5). requirement.
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![3490 Federal Register / Vol. 81, No. 13 / Thursday, January 21, 2016 / Notices
including whether the proposed rule SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s
change is consistent with the Act. COMMISSION Statement of the Purpose of, and the
Comments may be submitted by any of Statutory Basis for, the Proposed Rule
the following methods: [Release No. 34–76912; File No. SR–NYSE– Change
Electronic Comments 2016–03] 1. Purpose
• Use the Commission’s Internet Self-Regulatory Organizations; New The Exchange proposes to amend the
comment form (http://www.sec.gov/ York Stock Exchange LLC; Notice of fees for NYSE BBO and NYSE Trades
rules/sro.shtml); or Filing and Immediate Effectiveness of market data products,4 as set forth on
the NYSE Proprietary Market Data Fee
• Send an email to rule-comments@ Proposed Rule Change Amending the
Fees for NYSE BBO and NYSE Trades Schedule (‘‘Fee Schedule’’). The
sec.gov. Please include File Number SR–
Exchange proposes to make the
Phlx–2016–02 on the subject line.
January 14, 2016. following fee changes effective January
Paper Comments 4, 2016:
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the • Establish a multiple data feed fee;
• Send paper comments in triplicate
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 • Discontinue fees relating to
to Secretary, Securities and Exchange
notice is hereby given that, on January managed non-display;
Commission, 100 F Street NE.,
Washington, DC 20549–1090. 4, 2016, New York Stock Exchange LLC • Modify the application of the access
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with fee; and
All submissions should refer to File the Securities and Exchange • Reduce the Enterprise Fee.
Number SR–Phlx–2016–02. This file Commission (the ‘‘Commission’’) the
number should be included on the Multiple Data Feed Fee 5
proposed rule change as described in
subject line if email is used. To help the The Exchange proposes to establish a
Items I, II, and III below, which Items
Commission process and review your new monthly fee, the ‘‘Multiple Data
have been prepared by the self-
comments more efficiently, please use Feed Fee,’’ that would apply to data
only one method. The Commission will regulatory organization. The
Commission is publishing this notice to recipients that take a data feed for a
post all comments on the Commission’s market data product in more than two
Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule
locations. Data recipients taking NYSE
rules/sro.shtml). Copies of the change from interested persons.
BBO or NYSE Trades in more than two
submission, all subsequent I. Self-Regulatory Organization’s locations would be charged $200 per
amendments, all written statements Statement of the Terms of Substance of additional location per product per
with respect to the proposed rule the Proposed Rule Change month. No new reporting would be
change that are filed with the required.6
Commission, and all written The Exchange proposes to amend the
communications relating to the fees for NYSE BBO and NYSE Trades to: Managed Non-Display Fees
proposed rule change between the (1) Establish a multiple data feed fee; (2) Non-Display Use of NYSE market data
Commission and any person, other than discontinue fees relating to managed means accessing, processing, or
those that may be withheld from the non-display; (3) modify the application consuming NYSE market data delivered
public in accordance with the of the access fee; and (4) reduce the via direct and/or Redistributor 7 data
provisions of 5 U.S.C. 552, will be Enterprise Fee. The proposed rule feeds for a purpose other than in
available for Web site viewing and change is available on the Exchange’s support of a data recipient’s display
printing in the Commission’s Public Web site at www.nyse.com, at the usage or further internal or external
Reference Room, 100 F Street NE.,
principal office of the Exchange, and at
Washington, DC 20549, on official 4 See Securities Exchange Act Release Nos. 61914
the Commission’s Public Reference
business days between the hours of (Apr. 14, 2010), 74 FR 21077 (Apr. 22, 2010) (SR–
Room.
10:00 a.m. and 3:00 p.m. Copies of the NYSE–2010–30) (notice—NYSE BBO); 62181 (May
filing also will be available for 26, 2010), 75 FR 31488 (June 3, 2010) (SR–NYSE–
II. Self-Regulatory Organization’s 2010–30) (approval order—NYSE BBO); 59309 (Jan.
inspection and copying at the principal Statement of the Purpose of, and 28, 2009), 74 FR 6073 (Feb. 4, 2009) (SR–NYSE–
office of the Exchange. All comments Statutory Basis for, the Proposed Rule 2009–04) (notice—NYSE Trades); and 59309 (Mar.
received will be posted without change; Change 19, 2009), 74 FR 13293 (Mar. 26, 2009) (approval
the Commission does not edit personal order—NYSE Trades) (SR–NYSE–2009–04) and
62038 (May 5, 2010), 75 FR 26825 (May 12, 2010)
identifying information from In its filing with the Commission, the (SR–NYSE–2010–22).
submissions. You should submit only self-regulatory organization included 5 The text of footnote 6 in Exhibit 5 of this
information that you wish to make statements concerning the purpose of, proposed rule change was previously filed under a
available publicly. All submissions and basis for, the proposed rule change separate filing. See SR–NYSE–2016–02 (Proposed
Rule Change to Amend the Fees for NYSE
should refer to File Number SR–Phlx– and discussed any comments it received OpenBook).
2016–02 and should be submitted on or on the proposed rule change. The text 6 Data vendors currently report a unique Vendor
before February 11, 2016. of those statements may be examined at Account Number for each location at which they
the places specified in Item IV below. provide a data feed to a data recipient. The
For the Commission, by the Division of Exchange considers each Vendor Account Number
asabaliauskas on DSK9F6TC42PROD with NOTICES
Trading and Markets, pursuant to delegated The Exchange has prepared summaries, a location. For example, if a data recipient has five
authority.8 set forth in sections A, B, and C below, Vendor Account Numbers, representing five
Robert W. Errett, of the most significant parts of such locations, for the receipt of the NYSE BBO product,
that data recipient will pay the Multiple Data Feed
Deputy Secretary. statements. fee with respect to three of the five locations.
[FR Doc. 2016–01060 Filed 1–20–16; 8:45 am] 7 ‘‘Redistributor’’ means a vendor or any other
BILLING CODE 8011–01–P 1 15
person that provides an NYSE data product to a
U.S.C.78s(b)(1).
data recipient or to any system that a data recipient
2 15 U.S.C. 78a. uses, irrespective of the means of transmission or
8 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. access.
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Document Created: 2018-02-02 12:33:43
Document Modified: 2018-02-02 12:33:43
| 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 3489 |
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