81 FR 35072 - Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendment No. 3 to the National Market System Plan Governing the Process of Selecting a Plan Processor and Developing a Plan for the Consolidated Audit Trail by BATS Exchange, Inc., BATS-Y Exchange, Inc., BOX Options Exchange LLC, C2 Options Exchange, Incorporated, Chicago Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., EDGA Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory Authority, Inc., International Securities Exchange, LLC, ISE Gemini, LLC, Miami International Securities Exchange LLC, NASDAQ OMX BX, Inc., NASDAQ OMX PHLX LLC, The NASDAQ Stock Market LLC, National Stock Exchange, Inc., New York Stock Exchange LLC, NYSE MKT LLC, and NYSE Arca, Inc.

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 105 (June 1, 2016)

Page Range		35072-35074
FR Document		2016-12779
Federal Register, Volume 81 Issue 105 (Wednesday, June 1, 2016)
[Federal Register Volume 81, Number 105 (Wednesday, June 1, 2016)]
[Notices]
[Pages 35072-35074]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-12779]



[[Page 35072]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77917; File No. 4-668]


Joint Industry Plan; Notice of Filing and Immediate Effectiveness 
of Amendment No. 3 to the National Market System Plan Governing the 
Process of Selecting a Plan Processor and Developing a Plan for the 
Consolidated Audit Trail by BATS Exchange, Inc., BATS-Y Exchange, Inc., 
BOX Options Exchange LLC, C2 Options Exchange, Incorporated, Chicago 
Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., 
EDGA Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory 
Authority, Inc., International Securities Exchange, LLC, ISE Gemini, 
LLC, Miami International Securities Exchange LLC, NASDAQ OMX BX, Inc., 
NASDAQ OMX PHLX LLC, The NASDAQ Stock Market LLC, National Stock 
Exchange, Inc., New York Stock Exchange LLC, NYSE MKT LLC, and NYSE 
Arca, Inc.

May 25, 2016.

I. Introduction

    Pursuant to Section 11A of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given that, 
on March 29, 2016, BATS Exchange, Inc., BATS-Y Exchange, Inc., BOX 
Options Exchange LLC, C2 Options Exchange, Incorporated, Chicago Board 
Options Exchange, Incorporated, Chicago Stock Exchange, Inc., EDGA 
Exchange, Inc., EDGX Exchange, Inc., Financial Industry Regulatory 
Authority, Inc., International Securities Exchange, LLC, ISE Gemini, 
LLC, Miami International Securities Exchange LLC, NASDAQ OMX BX, Inc., 
NASDAQ OMX PHLX LLC, The NASDAQ Stock Market LLC, National Stock 
Exchange, Inc., New York Stock Exchange LLC, NYSE MKT LLC, and NYSE 
Arca, Inc. (collectively, ``SROs'' or ``Participants''), filed with the 
Securities and Exchange Commission (the ``Commission'') a proposal to 
amend the Plan Governing the Process of Selecting a Plan Processor and 
Developing a Plan for the Consolidated Audit Trail (the ``Selection 
Plan'').\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ In this filing, the SROs withdrew the amendment to the 
Selection Plan filed with the Commission on March 11, 2016. See 
Letter from the Participants to Brent J. Fields, Secretary, 
Commission, dated March 11, 2016.
---------------------------------------------------------------------------

    The SROs propose to amend the Selection Plan to add ISE Mercury, 
LLC (``ISE Mercury'') as a Participant to the Selection Plan, and 
replace references to ``Topaz Exchange, LLC'' with references to ``ISE 
Gemini, LLC.'' A copy of the proposed amendment to the Selection Plan 
(``Amendment No. 3'') is attached as Exhibit A hereto. The Commission 
is publishing this notice to solicit comments from interested persons 
on proposed Amendment No. 3 to the Selection Plan.

II. Description of the Plan

    Set forth in this Section II is the statement of the purpose of 
Amendment No. 3 to the Selection Plan, along with the information 
required by Rule 608(a)(4) and (5) under the Exchange Act,\4\ as 
prepared and submitted by the SROs to the Commission.\5\
---------------------------------------------------------------------------

    \4\ See 17 CFR 242.608(a)(4) and (a)(5).
    \5\ See Letter from the Participants to Brent J. Fields, 
Secretary, Commission, dated March 29, 2016.
---------------------------------------------------------------------------

* * * * *
Background
    The Selection Plan was initially filed with the Commission on 
September 4, 2013,\6\ approved on February 21, 2014,\7\ and 
subsequently amended on June 17, 2015 and September 24, 2015.\8\ The 
Selection Plan governs the process for how the Participants will 
evaluate and select a Plan Processor and develop the National Market 
System Plan Governing the Consolidated Audit Trail Pursuant to Rule 613 
of Regulation NMS under the Exchange Act (``CAT NMS Plan'').
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 70892 (November 15, 
2013), 78 FR 69910 (November 21, 2013) (Notice of the Selection 
Plan).
    \7\ See Securities Exchange Act Release No. 71596 (February 21, 
2014), 79 FR 11152 (February 27, 2014) (Order Approving Selection 
Plan).
    \8\ See Securities Exchange Act Release No. 75192 (June 17, 
2015), 80 FR 36028 (June 23, 2015); Securities Exchange Act Release 
No. 75980 (September 24, 2015), 80 FR 58796 (September 30, 2015).
---------------------------------------------------------------------------

Requirements Pursuant to Rule 608(a)

A. Description of the Amendments to the Selection Plan

    On January 29, 2016, the Commission approved ISE Mercury's 
registration as a national securities exchange pursuant to Section 6 of 
the Exchange Act.\9\ Pursuant to Section II(B) of the Selection Plan, 
the Participants propose amending the Selection Plan to add ISE Mercury 
as a Participant thereto. Section II(B) of the Selection Plan states:

    Any entity approved by the SEC as a national securities exchange 
or national securities association under the Exchange Act after the 
effectiveness of the Plan shall become a Participant by satisfying 
each of the following requirements: (1) Effecting an amendment to 
the Plan by executing a copy of the Plan as then in effect (with the 
only change being the addition of the new Participant's name in 
Section II of the Plan) and submitting such amendment to the SEC for 
approval; and (2) providing each then-current Participant with a 
copy of such executed Plan. The amendment shall be effective when it 
is approved by the SEC in accordance with SEC Rule 608 or otherwise 
becomes effective pursuant to SEC Rule 608.\10\

    \9\ See Securities Exchange Act Release No. 76998 (January 29, 
2016), 81 FR 6066 (February 4, 2016).
    \10\ See Selection Plan, Section II(B), available at 
www.catnmsplan.com.

Accordingly, ISE Mercury has executed a copy of the Selection Plan as 
currently in effect, with the addition of ISE Mercury's name to Section 
II of the Selection Plan, and provided each existing Participant a copy 
of the executed Selection Plan. With this submission, the Participants 
submit the executed Selection Plan to the Commission for approval on 
behalf of ISE Mercury. A copy of the executed version of the Selection 
Plan is attached hereto.\11\
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    \11\ See Exhibit B.
---------------------------------------------------------------------------

    The Participants also propose to amend the Selection Plan to 
replace references to ``Topaz Exchange, LLC'' with references to ``ISE 
Gemini, LLC.'' On February 20, 2014, the Commission approved a proposed 
rule change that authorized Topaz Exchange, LLC to amend its 
Constitution, Certificate of Formation, Limited Liability Company 
Agreement, Rules and Schedule of Fees to change its name to ``ISE 
Gemini, LLC.'' \12\
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    \12\ See Securities Exchange Act Release No. 71586 (February 20, 
2014), 79 FR 10861 (February 26, 2014).
---------------------------------------------------------------------------

    The proposed amendments to the text of the Selection Plan are set 
forth in Exhibit A to this letter.\13\
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    \13\ See Exhibit A.
---------------------------------------------------------------------------

B. Governing or Constituent Documents

    Not applicable.

C. Implementation of Amendment

    The terms of the proposed amendment will become effective upon 
filing pursuant to Rule 608(b)(3)(iii) of the Exchange Act because it 
involves solely technical or ministerial matters. At any time within 
sixty days of the filing of this amendment, the Commission may 
summarily abrogate the amendment and require that it be refiled 
pursuant to paragraph (b)(1) of Rule 608,\14\ if it appears to the 
Commission that such action is necessary or appropriate in the public 
interest, for the protection of investors

[[Page 35073]]

or the maintenance of fair and orderly markets, to remove impediments 
to, and perfect the mechanisms of, a national market system or 
otherwise in furtherance of the purposes of the Exchange Act.
---------------------------------------------------------------------------

    \14\ The Commission notes that if it abrogated an amendment, the 
Commission could require the amendment to be refiled in accordance 
with subparagraph (a)(1) of Rule 608. See 17 CFR 242.608(b)(3)(iii).
---------------------------------------------------------------------------

D. Development and Implementation Phases

    Not applicable.

E. Analysis of Impact on Competition

    Not applicable.

F. Written Understanding or Agreements Relating to Interpretation of, 
or Participation in, Plan

    Not applicable.

G. Statement That the Amendments Have Been Approved by the Plan 
Sponsors

    The Selection Plan provides that, except with respect to the 
addition of new Participants, amendments to the Selection Plan shall be 
effected by means of a written amendment that: (1) Sets forth the 
change, addition, or deletion; (2) is executed by over two-thirds of 
the Participants; and (3) is approved by the SEC pursuant to Rule 608, 
or otherwise becomes effective under Rule 608.\15\ The proposed 
amendment has been executed by all of the Participants and has 
consequently been approved by the SROs.
---------------------------------------------------------------------------

    \15\ See Notice of Selection Plan, supra note 5.
---------------------------------------------------------------------------

    With respect to new Participants, an amendment to the Selection 
Plan may be effected by the new national securities exchange or 
national securities association in accordance with Section II of the 
Selection Plan. As discussed above, ISE Mercury has executed the 
existing version of the Selection Plan, with ISE Mercury's name added 
to Section II, provided each existing Participant a copy of the 
executed Selection Plan, and is providing the Commission with a copy of 
the executed version with this submission.

H. Terms and Conditions of Access

    Not applicable.

I. Method of Determination and Imposition, and Amount of, Fees and 
Charges

    Not applicable.

J. Method and Frequency of Processor Evaluation

    Not applicable.

K. Dispute Resolution

    Not applicable.

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the Amendment No. 
3 to the Selection Plan is consistent with the Act. Comments may be 
submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number 4-668 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number 4-668. 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 Amendment to the Plan that are filed 
with the Commission, and all written communications relating to the 
Amendment to the Plan 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 10:00 a.m. and 
3:00 p.m. Copies of the submission will also be available for 
inspection and copying at the Participants' principal offices. 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 4-668 and should be submitted 
on or before June 22, 2016.

    By the Commission.
Brent J. Fields,
Secretary.

EXHIBIT A

    Additions italicized; deletions bracketed

Plan Processor Evaluation and Selection Plan

II. Participants

(A) List of Participants

    The Participants are as follows:

(1) BATS Exchange, Inc.
(2) BATS Y-Exchange, Inc.
(3) BOX Options Exchange LLC
(4) C2 Options Exchange, Incorporated
(5) Chicago Board Options Exchange, Incorporated
(6) Chicago Stock Exchange, Inc.
(7) EDGA Exchange, Inc.
(8) EDGX Exchange, Inc.
(9) Financial Industry Regulatory Authority, Inc.
(10) International Securities Exchange, LLC
(11) ISE Gemini, LLC
(12) ISE Mercury, LLC
([11]13) Miami International Securities Exchange LLC
([12]14) NASDAQ OMX BX, Inc.
([13]15) NASDAQ OMX PHLX LLC
([14]16) The Nasdaq Stock Market LLC
([15]17) National Stock Exchange, Inc.
([16]18) New York Stock Exchange LLC
([17]19) NYSE MKT LLC
([18]20) NYSE Arca, Inc.
[(19) Topaz Exchange, LLC]
* * * * *
BATS EXCHANGE, INC.

BY:--------------------------------------------------------------------

BATS Y-EXCHANGE, INC.

BY:--------------------------------------------------------------------

BOX OPTIONS EXCHANGE LLC

BY:--------------------------------------------------------------------

C2 OPTIONS EXCHANGE, INCORPORATED

BY:--------------------------------------------------------------------

CHICAGO BOARD OPTIONS EXCHANGE, INCORPORATED

BY:--------------------------------------------------------------------

CHICAGO STOCK EXCHANGE, INC.

BY:--------------------------------------------------------------------

EDGA EXCHANGE, INC.

BY:--------------------------------------------------------------------

EDGX EXCHANGE, INC.

BY:--------------------------------------------------------------------

FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC.

BY:--------------------------------------------------------------------

INTERNATIONAL SECURITIES EXCHANGE, LLC

BY:--------------------------------------------------------------------

ISE GEMINI, LLC

BY:--------------------------------------------------------------------

ISE MERCURY, LLC

BY:--------------------------------------------------------------------

MIAMI INTERNATIONAL SECURITIES EXCHANGE LLC

BY:--------------------------------------------------------------------

NASDAQ OMX BX, INC.

BY:--------------------------------------------------------------------

NASDAQ OMX PHLX LLC

BY:--------------------------------------------------------------------

THE NASDAQ STOCK MARKET LLC

BY:--------------------------------------------------------------------

NATIONAL STOCK EXCHANGE, INC.


[[Page 35074]]


BY:--------------------------------------------------------------------

NEW YORK STOCK EXCHANGE LLC

BY:--------------------------------------------------------------------

NYSE ARCA, INC.

BY:--------------------------------------------------------------------

NYSE MKT LLC

BY:--------------------------------------------------------------------

[TOPAZ EXCHANGE, LLC

BY: _________________]-------------------------------------------------

[FR Doc. 2016-12779 Filed 5-31-16; 8:45 am]
 BILLING CODE 8011-01-P
35072 Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices

SECURITIES AND EXCHANGE Selection Plan, and replace references to amendment to the Plan by executing a copy
COMMISSION ‘‘Topaz Exchange, LLC’’ with references of the Plan as then in effect (with the only
to ‘‘ISE Gemini, LLC.’’ A copy of the change being the addition of the new
[Release No. 34–77917; File No. 4–668] Participant’s name in Section II of the Plan)
proposed amendment to the Selection and submitting such amendment to the SEC
Joint Industry Plan; Notice of Filing Plan (‘‘Amendment No. 3’’) is attached for approval; and (2) providing each then-
and Immediate Effectiveness of as Exhibit A hereto. The Commission is current Participant with a copy of such
Amendment No. 3 to the National publishing this notice to solicit executed Plan. The amendment shall be
Market System Plan Governing the comments from interested persons on effective when it is approved by the SEC in
proposed Amendment No. 3 to the accordance with SEC Rule 608 or otherwise
Process of Selecting a Plan Processor becomes effective pursuant to SEC Rule
and Developing a Plan for the Selection Plan.
608.10
Consolidated Audit Trail by BATS II. Description of the Plan
Exchange, Inc., BATS–Y Exchange, Accordingly, ISE Mercury has executed
Set forth in this Section II is the a copy of the Selection Plan as currently
Inc., BOX Options Exchange LLC, C2
statement of the purpose of Amendment in effect, with the addition of ISE
Options Exchange, Incorporated,
No. 3 to the Selection Plan, along with Mercury’s name to Section II of the
Chicago Board Options Exchange,
the information required by Rule Selection Plan, and provided each
Incorporated, Chicago Stock
608(a)(4) and (5) under the Exchange existing Participant a copy of the
Exchange, Inc., EDGA Exchange, Inc.,
Act,4 as prepared and submitted by the executed Selection Plan. With this
EDGX Exchange, Inc., Financial
SROs to the Commission.5 submission, the Participants submit the
Industry Regulatory Authority, Inc.,
International Securities Exchange, * * * * * executed Selection Plan to the
LLC, ISE Gemini, LLC, Miami Commission for approval on behalf of
Background
International Securities Exchange LLC, ISE Mercury. A copy of the executed
The Selection Plan was initially filed version of the Selection Plan is attached
NASDAQ OMX BX, Inc., NASDAQ OMX
with the Commission on September 4, hereto.11
PHLX LLC, The NASDAQ Stock Market
2013,6 approved on February 21, 2014,7 The Participants also propose to
LLC, National Stock Exchange, Inc.,
and subsequently amended on June 17, amend the Selection Plan to replace
New York Stock Exchange LLC, NYSE
2015 and September 24, 2015.8 The references to ‘‘Topaz Exchange, LLC’’
MKT LLC, and NYSE Arca, Inc.
Selection Plan governs the process for with references to ‘‘ISE Gemini, LLC.’’
May 25, 2016. how the Participants will evaluate and On February 20, 2014, the Commission
select a Plan Processor and develop the approved a proposed rule change that
I. Introduction National Market System Plan Governing authorized Topaz Exchange, LLC to
Pursuant to Section 11A of the the Consolidated Audit Trail Pursuant amend its Constitution, Certificate of
Securities Exchange Act of 1934 to Rule 613 of Regulation NMS under Formation, Limited Liability Company
(‘‘Act’’) 1 and Rule 608 thereunder,2 the Exchange Act (‘‘CAT NMS Plan’’). Agreement, Rules and Schedule of Fees
notice is hereby given that, on March to change its name to ‘‘ISE Gemini,
29, 2016, BATS Exchange, Inc., BATS– Requirements Pursuant to Rule 608(a)
LLC.’’ 12
Y Exchange, Inc., BOX Options A. Description of the Amendments to The proposed amendments to the text
Exchange LLC, C2 Options Exchange, the Selection Plan of the Selection Plan are set forth in
Incorporated, Chicago Board Options Exhibit A to this letter.13
On January 29, 2016, the Commission
Exchange, Incorporated, Chicago Stock
approved ISE Mercury’s registration as a B. Governing or Constituent Documents
Exchange, Inc., EDGA Exchange, Inc.,
national securities exchange pursuant to Not applicable.
EDGX Exchange, Inc., Financial
Section 6 of the Exchange Act.9
Industry Regulatory Authority, Inc., C. Implementation of Amendment
Pursuant to Section II(B) of the
International Securities Exchange, LLC,
Selection Plan, the Participants propose The terms of the proposed
ISE Gemini, LLC, Miami International
amending the Selection Plan to add ISE amendment will become effective upon
Securities Exchange LLC, NASDAQ
Mercury as a Participant thereto. filing pursuant to Rule 608(b)(3)(iii) of
OMX BX, Inc., NASDAQ OMX PHLX
Section II(B) of the Selection Plan states: the Exchange Act because it involves
LLC, The NASDAQ Stock Market LLC,
National Stock Exchange, Inc., New Any entity approved by the SEC as a solely technical or ministerial matters.
York Stock Exchange LLC, NYSE MKT national securities exchange or national At any time within sixty days of the
securities association under the Exchange filing of this amendment, the
LLC, and NYSE Arca, Inc. (collectively,
Act after the effectiveness of the Plan shall Commission may summarily abrogate
‘‘SROs’’ or ‘‘Participants’’), filed with become a Participant by satisfying each of the
the Securities and Exchange the amendment and require that it be
following requirements: (1) Effecting an
Commission (the ‘‘Commission’’) a refiled pursuant to paragraph (b)(1) of
proposal to amend the Plan Governing 4 See 17 CFR 242.608(a)(4) and (a)(5).
Rule 608,14 if it appears to the
the Process of Selecting a Plan Processor 5 See Letter from the Participants to Brent J. Commission that such action is
and Developing a Plan for the Fields, Secretary, Commission, dated March 29, necessary or appropriate in the public
Consolidated Audit Trail (the ‘‘Selection 2016. interest, for the protection of investors
6 See Securities Exchange Act Release No. 70892
Plan’’).3 (November 15, 2013), 78 FR 69910 (November 21, 10 See Selection Plan, Section II(B), available at
The SROs propose to amend the 2013) (Notice of the Selection Plan). www.catnmsplan.com.
Selection Plan to add ISE Mercury, LLC 7 See Securities Exchange Act Release No. 71596
11 See Exhibit B.
(‘‘ISE Mercury’’) as a Participant to the
sradovich on DSK3TPTVN1PROD with NOTICES

(February 21, 2014), 79 FR 11152 (February 27, 12 See Securities Exchange Act Release No. 71586
2014) (Order Approving Selection Plan).
8 See Securities Exchange Act Release No. 75192
(February 20, 2014), 79 FR 10861 (February 26,
1 15 U.S.C. 78k–1. 2014).
2 17 (June 17, 2015), 80 FR 36028 (June 23, 2015);
CFR 242.608. 13 See Exhibit A.
3 In this filing, the SROs withdrew the
Securities Exchange Act Release No. 75980 14 The Commission notes that if it abrogated an
(September 24, 2015), 80 FR 58796 (September 30,
amendment to the Selection Plan filed with the 2015). amendment, the Commission could require the
Commission on March 11, 2016. See Letter from the amendment to be refiled in accordance with
Participants to Brent J. Fields, Secretary, 9 See Securities Exchange Act Release No. 76998 subparagraph (a)(1) of Rule 608. See 17 CFR
Commission, dated March 11, 2016. (January 29, 2016), 81 FR 6066 (February 4, 2016). 242.608(b)(3)(iii).

VerDate Sep<11>2014 21:59 May 31, 2016 Jkt 238001 PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\01JNN1.SGM 01JNN1
Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices 35073

or the maintenance of fair and orderly III. Solicitation of Comments Plan Processor Evaluation and Selection
markets, to remove impediments to, and Plan
perfect the mechanisms of, a national Interested persons are invited to
II. Participants
market system or otherwise in submit written data, views, and
arguments concerning the foregoing, (A) List of Participants
furtherance of the purposes of the
Exchange Act. including whether the Amendment No. The Participants are as follows:
3 to the Selection Plan is consistent (1) BATS Exchange, Inc.
D. Development and Implementation with the Act. Comments may be (2) BATS Y–Exchange, Inc.
Phases submitted by any of the following (3) BOX Options Exchange LLC
methods: (4) C2 Options Exchange, Incorporated
Not applicable. (5) Chicago Board Options Exchange,
E. Analysis of Impact on Competition Electronic Comments Incorporated
(6) Chicago Stock Exchange, Inc.
Not applicable. • Use the Commission’s Internet (7) EDGA Exchange, Inc.
comment form (http://www.sec.gov/ (8) EDGX Exchange, Inc.
F. Written Understanding or Agreements (9) Financial Industry Regulatory Authority,
rules/sro.shtml); or
Relating to Interpretation of, or Inc.
Participation in, Plan • Send an email to rule-comments@ (10) International Securities Exchange, LLC
sec.gov. Please include File Number 4– (11) ISE Gemini, LLC
Not applicable. 668 on the subject line. (12) ISE Mercury, LLC
G. Statement That the Amendments ([11]13) Miami International Securities
Paper Comments Exchange LLC
Have Been Approved by the Plan
([12]14) NASDAQ OMX BX, Inc.
Sponsors • Send paper comments in triplicate
([13]15) NASDAQ OMX PHLX LLC
to Brent J. Fields, Secretary, Securities ([14]16) The Nasdaq Stock Market LLC
The Selection Plan provides that,
and Exchange Commission, 100 F Street ([15]17) National Stock Exchange, Inc.
except with respect to the addition of
NE., Washington, DC 20549–1090. ([16]18) New York Stock Exchange LLC
new Participants, amendments to the
([17]19) NYSE MKT LLC
Selection Plan shall be effected by All submissions should refer to File ([18]20) NYSE Arca, Inc.
means of a written amendment that: (1) Number 4–668. This file number should [(19) Topaz Exchange, LLC]
Sets forth the change, addition, or be included on the subject line if email
* * * * *
deletion; (2) is executed by over two- is used. To help the Commission BATS EXCHANGE, INC.
thirds of the Participants; and (3) is process and review your comments
BY: lllllllllllllllllll
approved by the SEC pursuant to Rule more efficiently, please use only one
BATS Y–EXCHANGE, INC.
608, or otherwise becomes effective method. The Commission will post all
under Rule 608.15 The proposed comments on the Commission’s Internet BY: lllllllllllllllllll
amendment has been executed by all of Web site (http://www.sec.gov/rules/ BOX OPTIONS EXCHANGE LLC
the Participants and has consequently sro.shtml). Copies of the submission, all BY: lllllllllllllllllll
been approved by the SROs. subsequent amendments, all written C2 OPTIONS EXCHANGE, INCORPORATED
With respect to new Participants, an statements with respect to the BY: lllllllllllllllllll
amendment to the Selection Plan may Amendment to the Plan that are filed CHICAGO BOARD OPTIONS EXCHANGE,
be effected by the new national with the Commission, and all written INCORPORATED
securities exchange or national communications relating to the BY: lllllllllllllllllll
securities association in accordance Amendment to the Plan between the CHICAGO STOCK EXCHANGE, INC.
with Section II of the Selection Plan. As Commission and any person, other than BY: lllllllllllllllllll
discussed above, ISE Mercury has those that may be withheld from the
EDGA EXCHANGE, INC.
executed the existing version of the public in accordance with the
BY: lllllllllllllllllll
Selection Plan, with ISE Mercury’s provisions of 5 U.S.C. 552, will be
name added to Section II, provided each available for Web site viewing and EDGX EXCHANGE, INC.
existing Participant a copy of the printing in the Commission’s Public BY: lllllllllllllllllll
executed Selection Plan, and is Reference Room, 100 F Street NE., FINANCIAL INDUSTRY REGULATORY
providing the Commission with a copy Washington, DC 20549 on official AUTHORITY, INC.
of the executed version with this business days between 10:00 a.m. and BY: lllllllllllllllllll
submission. 3:00 p.m. Copies of the submission will INTERNATIONAL SECURITIES EXCHANGE,
also be available for inspection and LLC
H. Terms and Conditions of Access copying at the Participants’ principal BY: lllllllllllllllllll
Not applicable. offices. All comments received will be ISE GEMINI, LLC
posted without change; the Commission BY: lllllllllllllllllll
I. Method of Determination and does not edit personal identifying
Imposition, and Amount of, Fees and ISE MERCURY, LLC
information from submissions. You BY: lllllllllllllllllll
Charges should submit only information that
MIAMI INTERNATIONAL SECURITIES
Not applicable. you wish to make available publicly. All EXCHANGE LLC
submissions should refer to File
J. Method and Frequency of Processor BY: lllllllllllllllllll
Number 4–668 and should be submitted
sradovich on DSK3TPTVN1PROD with NOTICES

Evaluation on or before June 22, 2016. NASDAQ OMX BX, INC.
BY: lllllllllllllllllll
Not applicable. By the Commission.
NASDAQ OMX PHLX LLC
K. Dispute Resolution Brent J. Fields,
BY: lllllllllllllllllll
Secretary.
Not applicable. THE NASDAQ STOCK MARKET LLC
EXHIBIT A BY: lllllllllllllllllll
15 See Notice of Selection Plan, supra note 5. Additions italicized; deletions bracketed NATIONAL STOCK EXCHANGE, INC.

VerDate Sep<11>2014 21:59 May 31, 2016 Jkt 238001 PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 E:\FR\FM\01JNN1.SGM 01JNN1
35074 Federal Register / Vol. 81, No. 105 / Wednesday, June 1, 2016 / Notices

BY: lllllllllllllllllll the proposed rule change and discussed obligation on Phlx to gather information
NEW YORK STOCK EXCHANGE LLC any comments it received on the on the members’ legal business
BY: lllllllllllllllllll proposed rule change. The text of these structure. Specifically, Phlx was
NYSE ARCA, INC. statements may be examined at the obligated to maintain a heighted
BY: lllllllllllllllllll places specified in Item IV below. The vigilance on the structure, ownership,
NYSE MKT LLC
Exchange has prepared summaries, set and change of control in a partnership
forth in sections A, B, and C below, of in order to ensure the financial integrity
BY: lllllllllllllllllll
the most significant aspects of such of its ownership and members ability to
[TOPAZ EXCHANGE, LLC statements. honor their trades and obligations. Rule
BY: lllllllllllllllll] 900.1(b) and 900.1(d) articulates
A. Self-Regulatory Organization’s
[FR Doc. 2016–12779 Filed 5–31–16; 8:45 am] obligations of partners and general
Statement of the Purpose of, and
BILLING CODE 8011–01–P partners as they relate to the Exchange
Statutory Basis for, the Proposed Rule
that are no longer relevant as the
Change
partnership no longer conveys specific
SECURITIES AND EXCHANGE 1. Purpose obligations that are distinct from any
COMMISSION The Exchange proposes to modify other member organization. Rule 910(j)
[Release No. 34–77916; File No. SR–Phlx– certain Phlx membership rules in order relates to liabilities that were unique to
2016–38] to harmonize them with Nasdaq and BX the partnership, as a member, which are
rules and to modernize the Exchange’s no longer applicable today.
Self-Regulatory Organizations; Rulebook. Specifically, Exchange Today, permits are issued to Exchange
NASDAQ PHLX LLC; Notice of Filing proposes to amend Rule 900.1 entitled, members and member organizations.
and Immediate Effectiveness of ‘‘General Powers and Duties of The Exchange no longer needs to
Proposed Rule Change To Amend Membership Department’’ by differentiate among types of entities
Rules 900.1, 910, and 921 eliminating sections (b) and (d) which because the permit structure conveys no
are the provisions regarding ownership to the member. These
May 25, 2016.
partnerships as distinct membership membership rules related to
Pursuant to Section 19(b)(1) of the partnerships are no longer applicable
Securities Exchange Act of 1934 classifications. The exchange also
proposes to eliminate the provisions today. The distinctions regarding the
(‘‘Act’’),1 and Rule 19b–4 thereunder,2 admission of a member or member
notice is hereby given that, on May 12, regarding partnerships from Rule 910(j),
Qualifications [sic] as Member organization as a partnership, as
2016, NASDAQ PHLX LLC (‘‘Phlx’’ or compared to another ownership
‘‘Exchange’’) filed with the Securities Organization. The Exchange will reserve
those sections of the rules in order to structure, are no longer relevant.
and Exchange Commission The Exchange also proposes to
(‘‘Commission’’) the proposed rule allow for future membership needs.
Sections of each of these Rules were replace the references to the ‘‘Board of
change as described in Items I, II, and Directors’’ with the ‘‘Membership
III, below, which Items have been more relevant to the Phlx membership
review process prior to demutualization Department’’ as part of Rule 910(h). The
prepared by the Exchange. The responsibilities of the Board of Directors
Commission is publishing this notice to in 2004 and specifically related to the
review of partnerships and no longer have changed. Consequently, the Board
solicit comments on the proposed rule of Directors is no longer actively
change from interested persons. reflect the information needed as part of
the membership review. These involved in the membership process,
I. Self-Regulatory Organization’s provisions were retained following which is now operated in the same way
Statement of the Terms of Substance of changes to the Exchange Bylaws in as Nasdaq’s and BX’s and the review of
the Proposed Rule Change 2009, yet no longer were relevant to the the qualifications of Member
regulatory needs of the Exchange. The Organizations is handled by the
The Exchange proposes to amend the
proposed changes related to ownership Membership Department, as defined in
following Rules: 900.1, General Powers
structures of partnerships that the Rule 1(p). This rule has become
and Duties of Membership Department;
Exchange no longer needs as discussed outdated and no longer reflects current
910, Qualifications [sic] as Member
in greater detail below. An additional business practices.
Organization; and 921, Qualifications
[sic]; Designation of Executive amendment relates to the organizational The final change relates to Rule
Representative. changes that occurred following 921(b); Phlx seeks to harmonize 921(b)
The text of the proposed rule change demutualization such that with the existing Nasdaq and BX Rule
is available on the Exchange’s Web site responsibilities that formerly were 1150 by not requiring an executive
at http:// handled by the Board of Directors are representative to provide evidence of
nasdaqomxphlx.cchwallstreet.com/, at now a responsibility of the Membership their acceptance of designation in
the principal office of the Exchange, and Department. The final change to Rule writing. The membership form will
at the Commission’s Public Reference 921 entitled, ‘‘Qualification; Designation continue to require the designation of
Room. of Executive Representative’’ is the Executive Representative, but will
proposed to align Phlx rules with no longer require the designated person
II. Self-Regulatory Organization’s existing NASDAQ and BX rule 1150. to provide their signature. The
Statement of the Purpose of, and The membership distinctions in Rule elimination of the evidence of
Statutory Basis for, the Proposed Rule 900.1(b) and (d) and Rule 910(j) were acceptance provision of 921(b) does not
sradovich on DSK3TPTVN1PROD with NOTICES

Change applicable when Phlx offered seats to its impose any burden on competition
In its filing with the Commission, the members, prior to demutualization, yet rather it aligns the requirements of
Exchange included statements remained in the rules after this was PHLX with that of Nasdaq and BX.
concerning the purpose of and basis for concluded in 2004. Before 2. Statutory Basis
demutualization, Phlx seats conveyed
1 15 U.S.C. 78s(b)(1). ownership of the Exchange, in addition The Exchange believes that its
2 17 CFR 240.19b–4. to access, which created a greater proposal is consistent with Section 6(b)

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Document Created: 2018-02-08 07:27:17
Document Modified: 2018-02-08 07:27:17
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 35072