81_FR_39848 81 FR 39731 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Penny Pilot Program

81 FR 39731 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Extend the Penny Pilot Program

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 117 (June 17, 2016)

Page Range39731-39732
FR Document2016-14319

Federal Register, Volume 81 Issue 117 (Friday, June 17, 2016)
[Federal Register Volume 81, Number 117 (Friday, June 17, 2016)]
[Notices]
[Pages 39731-39732]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-14319]



[[Page 39731]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78052; File No. SR-BatsEDGX-2016-22]


Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Extend the Penny Pilot Program

June 13, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on June 3, 2016, Bats EDGX Exchange, Inc. (the ``Exchange'' or 
``EDGX'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I and 
II below, which Items have been prepared by the Exchange. The Exchange 
has designated this proposal as a ``non-controversial'' proposed rule 
change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b-
4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6)(iii).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange filed a proposal for the EDGX Options Market (``EDGX 
Options'') to extend through December 31, 2016, the Penny Pilot Program 
(``Penny Pilot'') in options classes in certain issues (``Pilot 
Program'') previously approved by the Commission.\5\
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    \5\ The rules of EDGX Options, including rules applicable to 
EDGX Options' participation in the Penny Pilot, were approved on 
August 7, 2015. See Securities Exchange Act Release No. 75650 
(August 7, 2015), 80 FR 48600 (August 13, 2015) (SR-EDGX-2015-18). 
EDGX Options commenced operations on November 2, 2015.
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    The text of the proposed rule change is available at the Exchange's 
Web site at http://www.batstrading.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 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
    The purpose of this filing is to extend the Penny Pilot, which was 
previously approved by the Commission, through December 31, 2016, and 
to provide revised dates for adding replacement issues to the Pilot 
Program. The Exchange proposes that any Pilot Program issues that have 
been delisted may be replaced on the second trading day following July 
1, 2016. The replacement issues will be selected based on trading 
activity for the most recent six month period excluding the month 
immediately preceding the replacement (i.e., beginning December 1, 
2015, and ending May 31, 2016).
    The Exchange represents that the Exchange has the necessary system 
capacity to continue to support operation of the Penny Pilot. The 
Exchange believes the benefits to public customers and other market 
participants who will be able to express their true prices to buy and 
sell options have been demonstrated to outweigh the increase in quote 
traffic.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with the 
requirements of the Act and the rules and regulations thereunder that 
are applicable to a national securities exchange, and, in particular, 
with the requirements of Section 6(b) of the Act.\6\ In particular, the 
proposal is consistent with Section 6(b)(5) of the Act,\7\ because it 
would promote just and equitable principles of trade, remove 
impediments to, and perfect the mechanism of, a free and open market 
and a national market system. The Exchange believes that the Pilot 
Program promotes just and equitable principles of trade by enabling 
public customers and other market participants to express their true 
prices to buy and sell options. Accordingly, the Exchange believes that 
the proposal is consistent with the Act because it will allow the 
Exchange to extend the Pilot Program prior to its expiration on June 
30, 2016. The Exchange notes that this proposal does not propose any 
new policies or provisions that are unique or unproven, but instead 
relates to the continuation of an existing program that operates on a 
pilot basis.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(5).
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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 purposes of the Act. In this regard, the Exchange 
notes that the rule change is being proposed in order to continue the 
Pilot Program, which is a competitive response to analogous programs 
offered by other options exchanges. The Exchange believes this proposed 
rule change is necessary to permit fair competition among the options 
exchanges.

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

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any written comments from members or other interested parties.

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

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\ 
Because the 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 prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-
4(f)(6)(iii) thereunder.
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    \8\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \9\ 17 CFR 240.19b-4(f)(6).
    \10\ 15 U.S.C. 78s(b)(3)(A).
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does 
not become operative prior to 30 days after the date of the filing.\11\ 
However,

[[Page 39732]]

pursuant to Rule 19b-4(f)(6)(iii),\12\ the Commission may designate a 
shorter time if such action is consistent with the protection of 
investors and the public interest. The Exchange has asked the 
Commission to waive the 30-day operative delay so that the proposal may 
become operative immediately upon filing. The Commission believes that 
waiving the 30-day operative delay is consistent with the protection of 
investors and the public interest because doing so will allow the Pilot 
Program to continue without interruption in a manner that is consistent 
with the Commission's prior approval of the extension and expansion of 
the Pilot Program and will allow the Exchange and the Commission 
additional time to analyze the impact of the Pilot Program.\13\ 
Accordingly, the Commission designates the proposed rule change as 
operative upon filing with the Commission.\14\
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    \11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Exchange to give the Commission written notice of the 
Exchange's intent to file the proposed rule change along with a 
brief description and the text of 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 pre-filing requirement.
    \12\ 17 CFR 240.19b-4(f)(6)(iii).
    \13\ See Securities Exchange Act Release No. 61061 (November 24, 
2009), 74 FR 62857 (December 1, 2009) (SR-NYSEArca-2009-44). See 
also supra note 5.
    \14\ For purposes only of waiving the operative delay for this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act. If the Commission 
takes such action, the Commission shall institute proceedings under 
Section 19(b)(2)(B) \15\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
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    \15\ 15 U.S.C. 78s(b)(2)(B).
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IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please 
include File Number SR-BatsEDGX-2016-22 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-BatsEDGX-2016-22. 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-BatsEDGX-2016-22 and should 
be submitted on or before July 8, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-14319 Filed 6-16-16; 8:45 am]
BILLING CODE 8011-01-P



                                                                                Federal Register / Vol. 81, No. 117 / Friday, June 17, 2016 / Notices                                                      39731

                                                SECURITIES AND EXCHANGE                                 the proposed rule change and discussed                   prior to its expiration on June 30, 2016.
                                                COMMISSION                                              any comments it received on the                          The Exchange notes that this proposal
                                                                                                        proposed rule change. The text of these                  does not propose any new policies or
                                                [Release No. 34–78052; File No. SR–                     statements may be examined at the                        provisions that are unique or unproven,
                                                BatsEDGX–2016–22]                                       places specified in Item IV below. The                   but instead relates to the continuation of
                                                                                                        Exchange has prepared summaries, set                     an existing program that operates on a
                                                Self-Regulatory Organizations; Bats
                                                                                                        forth in Sections A, B, and C below, of                  pilot basis.
                                                EDGX Exchange, Inc.; Notice of Filing
                                                                                                        the most significant parts of such
                                                and Immediate Effectiveness of a                                                                                 B. Self-Regulatory Organization’s
                                                                                                        statements.
                                                Proposed Rule Change To Extend the                                                                               Statement on Burden on Competition
                                                Penny Pilot Program                                     A. Self-Regulatory Organization’s
                                                                                                                                                                   The Exchange does not believe that
                                                                                                        Statement of the Purpose of, and the
                                                June 13, 2016.                                                                                                   the proposed rule change will impose
                                                                                                        Statutory Basis for, the Proposed Rule
                                                   Pursuant to Section 19(b)(1) of the                                                                           any burden on competition that is not
                                                                                                        Change
                                                Securities Exchange Act of 1934 (the                                                                             necessary or appropriate in furtherance
                                                ‘‘Act’’),1 and Rule 19b–4 thereunder,2                  1. Purpose                                               of the purposes of the Act. In this
                                                notice is hereby given that on June 3,                     The purpose of this filing is to extend               regard, the Exchange notes that the rule
                                                2016, Bats EDGX Exchange, Inc. (the                     the Penny Pilot, which was previously                    change is being proposed in order to
                                                ‘‘Exchange’’ or ‘‘EDGX’’) filed with the                approved by the Commission, through                      continue the Pilot Program, which is a
                                                Securities and Exchange Commission                      December 31, 2016, and to provide                        competitive response to analogous
                                                (‘‘Commission’’) the proposed rule                      revised dates for adding replacement                     programs offered by other options
                                                change as described in Items I and II                   issues to the Pilot Program. The                         exchanges. The Exchange believes this
                                                below, which Items have been prepared                   Exchange proposes that any Pilot                         proposed rule change is necessary to
                                                by the Exchange. The Exchange has                       Program issues that have been delisted                   permit fair competition among the
                                                designated this proposal as a ‘‘non-                    may be replaced on the second trading                    options exchanges.
                                                controversial’’ proposed rule change                    day following July 1, 2016. The                          C. Self-Regulatory Organization’s
                                                pursuant to Section 19(b)(3)(A) of the                  replacement issues will be selected                      Statement on Comments on the
                                                Act 3 and Rule 19b–4(f)(6)(iii)                         based on trading activity for the most                   Proposed Rule Change Received From
                                                thereunder,4 which renders it effective                 recent six month period excluding the                    Members, Participants or Others
                                                upon filing with the Commission. The                    month immediately preceding the
                                                Commission is publishing this notice to                 replacement (i.e., beginning December                      The Exchange has not solicited, and
                                                solicit comments on the proposed rule                   1, 2015, and ending May 31, 2016).                       does not intend to solicit, comments on
                                                change from interested persons.                            The Exchange represents that the                      this proposed rule change. The
                                                                                                        Exchange has the necessary system                        Exchange has not received any written
                                                I. Self-Regulatory Organization’s                       capacity to continue to support                          comments from members or other
                                                Statement of the Terms of Substance of                  operation of the Penny Pilot. The                        interested parties.
                                                the Proposed Rule Change                                Exchange believes the benefits to public                 III. Date of Effectiveness of the
                                                   The Exchange filed a proposal for the                customers and other market participants                  Proposed Rule Change and Timing for
                                                EDGX Options Market (‘‘EDGX                             who will be able to express their true                   Commission Action
                                                Options’’) to extend through December                   prices to buy and sell options have been
                                                31, 2016, the Penny Pilot Program                       demonstrated to outweigh the increase                       The Exchange has filed the proposed
                                                (‘‘Penny Pilot’’) in options classes in                 in quote traffic.                                        rule change pursuant to Section
                                                certain issues (‘‘Pilot Program’’)                                                                               19(b)(3)(A)(iii) of the Act 8 and Rule
                                                                                                        2. Statutory Basis                                       19b–4(f)(6) thereunder.9 Because the
                                                previously approved by the
                                                Commission.5                                               The Exchange believes that its                        proposed rule change does not: (i)
                                                   The text of the proposed rule change                 proposal is consistent with the                          Significantly affect the protection of
                                                is available at the Exchange’s Web site                 requirements of the Act and the rules                    investors or the public interest; (ii)
                                                at http://www.batstrading.com/, at the                  and regulations thereunder that are                      impose any significant burden on
                                                principal office of the Exchange, and at                applicable to a national securities                      competition; and (iii) become operative
                                                the Commission’s Public Reference                       exchange, and, in particular, with the                   prior to 30 days from the date on which
                                                Room.                                                   requirements of Section 6(b) of the Act.6                it was filed, or such shorter time as the
                                                                                                        In particular, the proposal is consistent                Commission may designate if consistent
                                                II. Self-Regulatory Organization’s                      with Section 6(b)(5) of the Act,7 because                with the protection of investors and the
                                                Statement of the Purpose of, and                        it would promote just and equitable                      public interest, the proposed rule
                                                Statutory Basis for, the Proposed Rule                  principles of trade, remove                              change has become effective pursuant to
                                                Change                                                  impediments to, and perfect the                          Section 19(b)(3)(A) of the Act 10 and
                                                  In its filing with the Commission, the                mechanism of, a free and open market                     Rule 19b–4(f)(6)(iii) thereunder.
                                                Exchange included statements                            and a national market system. The                           A proposed rule change filed under
                                                concerning the purpose of and basis for                 Exchange believes that the Pilot                         Rule 19b–4(f)(6) normally does not
                                                                                                        Program promotes just and equitable                      become operative prior to 30 days after
                                                  1 15  U.S.C. 78s(b)(1).                               principles of trade by enabling public                   the date of the filing.11 However,
                                                  2 17  CFR 240.19b–4.                                  customers and other market participants
sradovich on DSK3TPTVN1PROD with NOTICES




                                                   3 15 U.S.C. 78s(b)(3)(A).                            to express their true prices to buy and                    8 15  U.S.C. 78s(b)(3)(A)(iii).
                                                   4 17 CFR 240.19b–4(f)(6)(iii).                       sell options. Accordingly, the Exchange                    9 17  CFR 240.19b–4(f)(6).
                                                                                                                                                                   10 15 U.S.C. 78s(b)(3)(A).
                                                   5 The rules of EDGX Options, including rules
                                                                                                        believes that the proposal is consistent
                                                applicable to EDGX Options’ participation in the        with the Act because it will allow the                     11 17 CFR 240.19b–4(f)(6). In addition, Rule

                                                Penny Pilot, were approved on August 7, 2015. See                                                                19b–4(f)(6)(iii) requires the Exchange to give the
                                                Securities Exchange Act Release No. 75650 (August
                                                                                                        Exchange to extend the Pilot Program                     Commission written notice of the Exchange’s intent
                                                7, 2015), 80 FR 48600 (August 13, 2015) (SR–                                                                     to file the proposed rule change along with a brief
                                                                                                          6 15   U.S.C. 78f(b).
                                                EDGX–2015–18). EDGX Options commenced                                                                            description and the text of the proposed rule
                                                operations on November 2, 2015.                           7 15   U.S.C. 78f(b)(5).                                                                         Continued




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                                                39732                            Federal Register / Vol. 81, No. 117 / Friday, June 17, 2016 / Notices

                                                pursuant to Rule 19b–4(f)(6)(iii),12 the                Paper Comments                                          SECURITIES AND EXCHANGE
                                                Commission may designate a shorter                                                                              COMMISSION
                                                time if such action is consistent with the                • Send paper comments in triplicate
                                                protection of investors and the public                  to Secretary, Securities and Exchange                   [Release No. 34–78056; File No. SR–OCC–
                                                interest. The Exchange has asked the                    Commission, 100 F Street NE.,                           2016–004]
                                                Commission to waive the 30-day                          Washington, DC 20549–1090.
                                                operative delay so that the proposal may                                                                        Self-Regulatory Organizations; The
                                                                                                        All submissions should refer to File
                                                become operative immediately upon                                                                               Options Clearing Corporation; Order
                                                                                                        Number SR–BatsEDGX–2016–22. This
                                                filing. The Commission believes that                                                                            Instituting Proceedings To Determine
                                                                                                        file number should be included on the
                                                waiving the 30-day operative delay is                                                                           Whether To Approve or Disapprove a
                                                consistent with the protection of                       subject line if email is used. To help the              Proposed Rule Change Related to the
                                                investors and the public interest                       Commission process and review your                      Adoption of an Options Exchange Risk
                                                because doing so will allow the Pilot                   comments more efficiently, please use                   Control Standards Policy
                                                Program to continue without                             only one method. The Commission will
                                                interruption in a manner that is                        post all comments on the Commission’s                   June 13, 2016.
                                                consistent with the Commission’s prior                  Internet Web site (http://www.sec.gov/                  I. Introduction
                                                approval of the extension and expansion                 rules/sro.shtml.) Copies of the
                                                of the Pilot Program and will allow the                 submission, all subsequent                                On March 4, 2016, The Options
                                                Exchange and the Commission                             amendments, all written statements                      Clearing Corporation (‘‘OCC’’) filed with
                                                additional time to analyze the impact of                with respect to the proposed rule                       the Securities and Exchange
                                                the Pilot Program.13 Accordingly, the                                                                           Commission (‘‘Commission’’), pursuant
                                                                                                        change that are filed with the
                                                Commission designates the proposed                                                                              to Section 19(b)(1) of the Securities
                                                                                                        Commission, and all written
                                                rule change as operative upon filing                                                                            Exchange Act of 1934 (‘‘Act’’) 1 and Rule
                                                                                                        communications relating to the                          19b–4 thereunder,2 a proposed rule
                                                with the Commission.14                                  proposed rule change between the
                                                   At any time within 60 days of the                                                                            change to adopt a new Options
                                                                                                        Commission and any person, other than                   Exchange Risk Control Standards Policy
                                                filing of the proposed rule change, the                 those that may be withheld from the
                                                Commission summarily may                                                                                        and revise its Schedule of Fees to
                                                                                                        public in accordance with the                           impose on clearing members a fee of
                                                temporarily suspend such rule change if
                                                                                                        provisions of 5 U.S.C. 552, will be                     two cents per cleared options contract
                                                it appears to the Commission that such
                                                action is necessary or appropriate in the               available for Web site viewing and                      (per side) executed on an options
                                                public interest, for the protection of                  printing in the Commission’s Public                     exchange that did not demonstrate
                                                investors, or otherwise in furtherance of               Reference Room, 100 F Street NE.,                       sufficient risk controls designed to meet
                                                the purposes of the Act. If the                         Washington, DC 20549, on official                       the proposed set of principles-based risk
                                                Commission takes such action, the                       business days between the hours of                      control standards. The proposed rule
                                                Commission shall institute proceedings                  10:00 a.m. and 3:00 p.m. Copies of the                  change was published for comment in
                                                under Section 19(b)(2)(B) 15 of the Act to              filing also will be available for                       the Federal Register on March 18,
                                                determine whether the proposed rule                     inspection and copying at the principal                 2016.3 The Commission received six
                                                change should be approved or                            office of the Exchange. All comments                    comment letters on the proposed rule
                                                disapproved.                                            received will be posted without change;                 change.4 On April 27, 2016, the
                                                                                                        the Commission does not edit personal                   Commission designated a longer period
                                                IV. Solicitation of Comments                                                                                    within which to approve the proposed
                                                                                                        identifying information from
                                                  Interested persons are invited to                     submissions. You should submit only                     rule change, disapprove the proposed
                                                submit written data, views, and                         information that you wish to make                       rule change, or institute proceedings to
                                                arguments concerning the foregoing,                     available publicly. All submissions                     determine whether to approve or
                                                including whether the proposed rule
                                                                                                        should refer to File Number SR–
                                                change is consistent with the Act.                                                                                1 15  U.S.C. 78s(b)(1).
                                                Comments may be submitted by any of                     BatsEDGX–2016–22 and should be                            2 17  CFR 240.19b–4.
                                                the following methods:                                  submitted on or before July 8, 2016.                       3 See Securities Exchange Act Release No. 34–

                                                                                                          For the Commission, by the Division of                77358 (March 14, 2016), 81 FR 14921 (March 18,
                                                Electronic Comments                                                                                             2016) (File No. SR–OCC–2016–004) (‘‘Notice’’).
                                                                                                        Trading and Markets, pursuant to delegated
                                                  • Use the Commission’s Internet
                                                                                                                                                                   4 See Letters from Mark Dehnert, Managing
                                                                                                        authority.16                                            Director, Goldman Sachs & Co., and Kyle Czepiel,
                                                comment form (http://www.sec.gov/                       Robert W. Errett,                                       Co-Chief Executive Officer, Goldman Sachs
                                                rules/sro.shtml); or                                                                                            Execution & Clearing, L.P. (collectively, ‘‘Goldman
                                                                                                        Deputy Secretary.
                                                  • Send an email to rule-comments@                                                                             Sachs’’), dated March 28, 2016, to Secretary,
                                                sec.gov. Please include File Number SR–                 [FR Doc. 2016–14319 Filed 6–16–16; 8:45 am]             Commission (‘‘Goldman Sachs Letter’’); Lisa J. Fall,
                                                                                                                                                                President, BOX Options Exchange (‘‘BOX’’), dated
                                                BatsEDGX–2016–22 on the subject line.                   BILLING CODE 8011–01–P
                                                                                                                                                                April 6, 2016, to Brent J. Fields, Secretary,
                                                                                                                                                                Commission (‘‘BOX Letter’’); James G. Lundy,
                                                change, at least five business days prior to the date                                                           Associate General Counsel, ABN AMRO Clearing
                                                of filing of the proposed rule change, or such                                                                  Chicago LLC (‘‘AACC’’), dated April 8, 2016, to
                                                shorter time as designated by the Commission. The                                                               Brent J. Fields, Secretary, Commission (‘‘AACC
                                                Exchange has satisfied this pre-filing requirement.                                                             Letter’’); Ellen Greene, Managing Director,
                                                   12 17 CFR 240.19b–4(f)(6)(iii).
                                                                                                                                                                Securities Industry and Financial Markets
                                                   13 See Securities Exchange Act Release No. 61061                                                             Association (‘‘SIFMA’’), dated April 12, 2016, to
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                                                (November 24, 2009), 74 FR 62857 (December 1,                                                                   Robert W. Errett, Deputy Secretary, Commission
                                                2009) (SR–NYSEArca–2009–44). See also supra                                                                     (‘‘SIFMA Letter’’); Michael J. Simon, Secretary and
                                                note 5.                                                                                                         General Counsel, International Securities Exchange,
                                                   14 For purposes only of waiving the operative                                                                LLC (‘‘ISE’’), dated April 20, 2016, to Brent J. Fields,
                                                delay for this proposal, the Commission has                                                                     Secretary, Commission(‘‘ISE Letter’’); and Edward
                                                considered the proposed rule’s impact on                                                                        T. Tilly, Chief Executive Officer, Chicago Board
                                                efficiency, competition, and capital formation. See                                                             Options Exchange, Inc. (‘‘CBOE’’), dated April 20,
                                                15 U.S.C. 78c(f).                                                                                               2016, to Brent J. Fields, Secretary, Commission
                                                   15 15 U.S.C. 78s(b)(2)(B).                             16 17   CFR 200.30–3(a)(12).                          (‘‘CBOE Letter’’).



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Document Created: 2016-06-17 01:04:42
Document Modified: 2016-06-17 01:04:42
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 39731 

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