81 FR 41617 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 123 (June 27, 2016)
Federal Register Volume 81, Issue 123 (June 27, 2016)
| Page Range | 41617-41619 | |
| FR Document | 2016-15076 |
[Federal Register Volume 81, Number 123 (Monday, June 27, 2016)] [Notices] [Pages 41617-41619] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-15076] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78112; File No. SR-BatsEDGX-2016-23] Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees June 21, 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 8, 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, II and III below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) [[Page 41618]] of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change effective upon filing with the Commission. 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. \3\ 15 U.S.C. 78s(b)(3)(A)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members \5\ and non-members of the Exchange pursuant to EDGX Rules 15.1(a) and (c) (``Fee Schedule'') to add fee codes NA and NB. --------------------------------------------------------------------------- \5\ The term ``Member'' is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at 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 Exchange previously filed a proposed rule change with the Commission to include a Non-Displayed \6\ instruction on orders routed to an away Trading Center.\7\ The Exchange intends to implement this functionality on June 1, 2016.\8\ Because other Trading Centers typically provide different rebates or fees with respect to non- displayed liquidity the Exchange proposes to amend its Fee Schedule to add fee codes NA and NB, which would apply to orders routed with a Non- Displayed instruction. Proposed fee code NA would be applied to orders that include a Non-Displayed instruction that are routed to and add liquidity on Bats BZX Exchange, Inc. (``BZX''), the New York Stock Exchange, Inc. (``NYSE''), NYSE Arca, Inc. (``NYSE Arca''), NYSE MKT LLC (``NYSE MKT''), or the Nasdaq Stock Market LLC (``Nasdaq'').\9\ Orders that yield fee code NA would not be charged a fee nor receive a rebate in both securities priced at or above $1.00 or below $1.00. Proposed fee code NB would be applied to orders that include a Non- Displayed instruction and are routed to and add liquidity on any exchange not listed in proposed fee code NA. Orders that yield fee code NB would be charged a fee of $0.0030 per share in securities priced at or above $1.00 and 0.30% of the trade's total dollar value in securities priced below $1.00. --------------------------------------------------------------------------- \6\ See Exchange Rule 11.6(e)(2). \7\ The Exchange notes that the Exchange also amended its rules to route orders with a Reserve Quantity (as defined in Rule 11.6(m)) as such to other Trading Centers. See Securities Exchange Act 77189 (February 19, 2016), 81 FR 9571 (February 25, 2016) (SR-EDGX-2016- 08). Orders to be routed with a Non-Displayed instruction or a Reserve Quantity would be handled in accordance with the rules of the Trading Center to which they are routed. Id. This proposal does not impact orders routed with a Reserve Quantity. \8\ See Bats Announces Support for Hidden Post-to-Away Routed Orders, available at http://cdn.batstrading.com/resources/release_notes/2016/Bats-Announces-Support-for-Hidden-Post-to-Away-Routed-Orders.pdf. \9\ Today, all orders that are routed to post to an away market are routed for display on such market and receive the following rates: (i) Rebate of $0.0015 per share for orders routed to the NYSE; (ii) rebate of $0.0021 per share for Tapes A and C securities and a rebate of $0.0022 per share for Tape B securities for orders routed to NYSE Arca; (iii) rebate of $0.0015 per share for orders routed to NYSE MKT; (iv) rebate of $0.0015 per share for orders routed to Nasdaq; and (v) a rebate of $0.0020 per share for orders routed to BZX. See the Exchange's Fee Schedule available at http://batstrading.com/support/fee_schedule/edga/. These rates generally represent a pass through of the rate that Bats Trading, Inc. (``Bats Trading''), the Exchange's affiliated routing broker-dealer, is provided for adding displayed liquidity at NYSE, NYSE Arca, NYSE MKT, Nasdaq, or BZX when it does not qualify for a volume tiered reduced fee or enhanced rebate. --------------------------------------------------------------------------- Implementation Date The Exchange proposes to implement these amendments to its Fee Schedule effective immediately.\10\ --------------------------------------------------------------------------- \10\ The Exchange initially filed the proposed fee change on May 31, 2016 (SR-BatsEDGX-2016-20). On June 8, 2016, the Exchange withdrew SR-BatsEDGX-2016-20 and submitted this filing. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act,\11\ in general, and furthers the objectives of Section 6(b)(4),\12\ in particular, as it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its Members and other persons using its facilities. The Exchange also notes that it operates in a highly- competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels at a particular venue to be excessive. The proposed rule changes reflect a competitive pricing structure designed to incent market participants to direct their order flow to the Exchange. The Exchange believes that the proposed fee codes are equitable and non-discriminatory in they would apply uniformly to all Members. The Exchange believes the rates remains competitive with those charged by other venues and, therefore, reasonable and equitably allocated to Members. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f. \12\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- In particular, the Exchange believes that the proposed fee codes represent an equitable allocation of reasonable dues, fees, and other charges. The proposed fees are similar to and based on the fees and rebates assessed or provided to Bats Trading when routing to away Trading Centers. For instance, like proposed fee code NA, the NYSE, NYSE Arca, and Nasdaq charge no fee nor provide a rebate for non- displayed orders that add liquidity.\13\ In addition, the exchanges that would be covered by proposed fee code NB charge a fee of up to $0.0030 per share to add liquidity.\14\ In addition, the proposed rate for fee code NB is equal to or greater than similar routing fees charged by other exchanges. For example, the NYSE, NYSE MKT, Nasdaq, and BZX charge a fee of $0.0030 per share and NYSE Arca charges a fee of $0.0035 per share regardless of which destination the order is routed.\15\ --------------------------------------------------------------------------- \13\ See the NYSE fee schedule available at https://www.nyse.com/publicdocs/nyse/markets/nyse/NYSE_Price_List.pdf (dated May 23, 2016); the NYSE Arca fee schedule available at https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/NYSE_Arca_Marketplace_Fees.pdf (dated May 23, 2016); and the Nasdaq fee schedule available at http://www.nasdaqtrader.com/Trader.aspx?id=PriceListTrading2. The Exchange notes that NYSE MKT and BZX provide a rebate of $0.0016 and $0.0017 per share respectively for non-displayed orders that add liquidity. See the NYSE MKT fee schedule available at https://www.nyse.com/publicdocs/nyse/markets/nyse-mkt/NYSE_MKT_Equities_Price_List.pdf (dated May 23, 2016); and the BZX fee schedule available at http://batstrading.com/support/fee_schedule/bzx/. \14\ See the Bats BYX Exchange Inc. fee schedule available at http://batstrading.com/support/fee_schedule/byx/; the Bats EDGA Exchange, Inc. fee schedule available at http://batstrading.com/support/fee_schedule/edga/; and the Nasdaq BX, Inc. fee schedule available at http://www.nasdaqtrader.com/Trader.aspx?id=bx_pricing. The Exchange notes that it currently does not provide for routing orders to post on the Chicago Stock Exchange, Inc. or the National Stock Exchange, Inc. \15\ See supra note 13. Nasdaq charges a fee of $0.0035 per share for routed orders that are directed to another market. See the Nasdaq fee schedule at id. --------------------------------------------------------------------------- [[Page 41619]] The Exchange notes that routing through Bats Trading is voluntary. The Exchange is providing a service to allow Members to post orders with a Non-Displayed instruction to these destinations and that those Members seeking to post such orders to away destinations may connect to those destinations directly and be charged the fee or provided the rebate from that destination. Therefore, the Exchange believes the rates for proposed fee codes NA and NB are equitable and reasonable because they are related to the rates provided by the away exchange and reasonably account for the routing service provided for by the Exchange. Lastly, the Exchange believes that the proposed amendments are non-discriminatory because it applies uniformly to all Members and that the proposed rates are directly related to rates provided by the destinations to which the orders may be routed. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe its proposed amendment to its Fee Schedule would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that the proposed changes represents a significant departure from previous pricing offered by the Exchange or pricing offered by the Exchange's competitors. Additionally, Members may opt to disfavor the Exchange's pricing if they believe that alternatives offer them better value. For example, routing through Bats Trading is voluntary and Members seeking to post such orders to away destinations may connect to those destinations directly and be charged the fee or provide the rebate from that destination. Accordingly, the Exchange does not believe that the proposed changes will impair the ability of Members or competing venues to maintain their competitive standing in the financial markets. The Exchange believes that its proposal would not burden intramarket competition because the proposed rate would apply uniformly to all Members. 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 unsolicited written comments from Members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \16\ and paragraph (f) of Rule 19b-4 thereunder.\17\ 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. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A). \17\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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 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-BatsEDGX-2016-23 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-2016-23. 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-2016-23, and should be submitted on or before July 18, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\18\ --------------------------------------------------------------------------- \18\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-15076 Filed 6-24-16; 8:45 am] BILLING CODE 8011-01-P
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or the exchange otherwise may hesitate communications relating to the are reasonably designed to prevent any
to, diligently monitor and surveil the proposed rule change between the shareholder from exercising undue
member’s conduct or diligently enforce Commission and any person, other than control over the operation of each of the
its rules and the federal securities laws those that may be withheld from the Exchanges. Furthermore, as stated
with respect to conduct by the member public in accordance with the above, the Commission believes that the
that violates such provisions.81 The provisions of 5 U.S.C. 552, will be proposed Membership Ownership
Commission finds that the proposed available for Web site viewing and Restrictions are reasonably designed to
Member Ownership Restrictions, printing in the Commission’s Public reduce the potential for an Exchanges’
combined with the voting limitations in Reference Room, 100 F Street NE., member to improperly interfere with or
Nasdaq’s governing documents as Washington, DC 20549, on official restrict the ability of the Commission or
discussed above, are consistent with the business days between the hours of the Exchanges to effectively carry out
Act, including Sections 6(b)(1) and 10:00 a.m. and 3:00 p.m. Copies of the their respective regulatory oversight
6(b)(5) of the Act. The Commission filing also will be available for responsibilities under the Act.
believes that the proposed Member inspection and copying at the principal Accordingly, the Commission finds
Ownership Restrictions are reasonably office of the ISE, ISE Gemini, or ISE good cause for approving the proposed
designed to reduce the potential for an Mercury, as applicable. All comments rule changes, as modified by their
Exchanges’ member to improperly received will be posted without change; respective Amendment No. 1, on an
interfere with or restrict the ability of the Commission does not edit personal accelerated basis, pursuant to Section
the Commission or the Exchanges to identifying information from 19(b)(2) of the Act.
effectively carry out their respective submissions. You should submit only VI. Conclusion
regulatory oversight responsibilities information that you wish to make
under the Act. available publicly. All submissions IT IS THEREFORE ORDERED,
should refer to File Numbers SR–ISE– pursuant to Section 19(b)(2) of the Act 86
IV. Solicitation of Comments on that the proposed rule changes (SR–ISE–
2016–11, SR–ISE Gemini–2016–05, or
Amendment No. 1 2016–11; SR–ISE Gemini–2016–05; SR–
SR–ISE Mercury–2016–10, as
Interested persons are invited to applicable, and should be submitted on ISE Mercury–2016–10), as modified by
submit written data, views, and or before July 18, 2016. their respective Amendment No. 1, be,
arguments concerning: Amendment No. and hereby are, approved on an
1 to File Nos. SR–ISE–2016–11, SR–ISE V. Accelerated Approval of Proposed accelerated basis.
Gemini–2016–05, and SR–ISE Mercury– Rule Changes, as Modified by Their For the Commission, by the Division of
2016–10, including whether Respective Amendment No. 1 Trading and Markets, pursuant to delegated
Amendment No. 1 is consistent with the The Commission, pursuant to Section authority.87
Act. Comments may be submitted by 19(b)(2) of the Act,82 finds good cause Brent J. Fields,
any of the following methods: for approving the proposed rule Secretary.
Electronic Comments changes, as modified by their respective [FR Doc. 2016–15067 Filed 6–24–16; 8:45 am]
Amendment No. 1 prior to the thirtieth BILLING CODE 8011–01–P
• Use the Commission’s Internet day after the date of publication of
comment form (http://www.sec.gov/ notice of filing of Amendment No. 1 in
rules/sro.shtml); or the Federal Register. In Amendment SECURITIES AND EXCHANGE
• Send an email to rule-comments@ No. 1, the Exchanges propose to amend COMMISSION
sec.gov. Please include File Number SR– the ISE Holdings COI and U.S. Exchange
ISE–2016–11, SR–ISE Gemini–2016–05, [Release No. 34–78112; File No. SR–
Holdings COI to remove the Ownership BatsEDGX–2016–23]
or SR–ISE Mercury–2016–10, as Limits and Voting Limits and adopt new
applicable, on the subject line. controls on the ownership, transfer, Self-Regulatory Organizations; Bats
Paper Comments assignment, and voting of the capital EDGX Exchange, Inc.; Notice of Filing
• Send paper comments in triplicate stock of U.S. Exchange Holdings and and Immediate Effectiveness of a
to Secretary, Securities and Exchange ISE Holdings.83 Amendment No. 1 also Proposed Rule Change Related to Fees
Commission, 100 F Street NE., made certain conforming changes to the
ISE Holdings COI and U.S. Exchange June 21, 2016.
Washington, DC 20549–1090. Pursuant to Section 19(b)(1) of the
All submissions should refer to File Holdings COI in connection with the
removal of the Ownership Limits and Securities Exchange Act of 1934 (the
Numbers SR–ISE–2016–11, SR–ISE ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Gemini–2016–05, SR–ISE Mercury– Voting Limits.84 In addition, each of the
Exchanges proposes to amend one of notice is hereby given that on June 8,
2016–10, as applicable. This file number 2016, Bats EDGX Exchange, Inc. (the
should be included on the subject line their existing rules limiting the
affiliation between ISE, ISE Gemini, or ‘‘Exchange’’ or ‘‘EDGX’’) filed with the
if email is used. To help the Securities and Exchange Commission
Commission process and review your ISE Mercury and their respective
members by adopting the Member (‘‘Commission’’) the proposed rule
comments more efficiently, please use change as described in Items I, II and III
only one method. The Commission will Ownership Restrictions.85 As discussed
more fully above, the Commission below, which Items have been prepared
post all comments on the Commission’s by the Exchange. The Exchange has
Internet Web site (http://www.sec.gov/ believes that the amended Ownership
Limits and Voting Limits, along with the designated the proposed rule change as
rules/sro.shtml). Copies of the
mstockstill on DSK3G9T082PROD with NOTICES
ancillary modifications related thereto, one establishing or changing a member
submission, all subsequent due, fee, or other charge imposed by the
amendments, all written statements Exchange under Section 19(b)(3)(A)(ii)
82 15 U.S.C. 78s(b)(2).
with respect to the proposed rule 83 See supra Section III.B (Ownership Limits and
change that are filed with the Voting Limits). 86 15 U.S.C. 78f(b)(2).
Commission, and all written 84 See supra notes 54 and 64. 87 17 CFR 200.30–3(a)(12).
85 See supra Section III.D (Member Ownership 1 15 U.S.C. 78s(b)(1).
81 See id. Restriction). 2 17 CFR 240.19b–4.
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The Exchange notes that routing unsolicited written comments from business days between the hours of
through Bats Trading is voluntary. The Members or other interested parties. 10:00 a.m. and 3:00 p.m. Copies of the
Exchange is providing a service to allow filing also will be available for
III. Date of Effectiveness of the
Members to post orders with a Non- inspection and copying at the principal
Proposed Rule Change and Timing for
Displayed instruction to these office of the Exchange. All comments
Commission Action
destinations and that those Members received will be posted without change;
seeking to post such orders to away The foregoing rule change has become the Commission does not edit personal
destinations may connect to those effective pursuant to Section 19(b)(3)(A) identifying information from
destinations directly and be charged the of the Act 16 and paragraph (f) of Rule submissions. You should submit only
fee or provided the rebate from that 19b–4 thereunder.17 At any time within information that you wish to make
destination. Therefore, the Exchange 60 days of the filing of the proposed rule available publicly. All submissions
believes the rates for proposed fee codes change, the Commission summarily may should refer to File Number SR–
NA and NB are equitable and reasonable temporarily suspend such rule change if BatsEDGX–2016–23, and should be
because they are related to the rates it appears to the Commission that such submitted on or before July 18, 2016.
provided by the away exchange and action is necessary or appropriate in the For the Commission, by the Division of
reasonably account for the routing public interest, for the protection of Trading and Markets, pursuant to delegated
service provided for by the Exchange. investors, or otherwise in furtherance of authority.18
Lastly, the Exchange believes that the the purposes of the Act. Robert W. Errett,
proposed amendments are non- IV. Solicitation of Comments Deputy Secretary.
discriminatory because it applies [FR Doc. 2016–15076 Filed 6–24–16; 8:45 am]
uniformly to all Members and that the Interested persons are invited to
BILLING CODE 8011–01–P
proposed rates are directly related to submit written data, views, and
rates provided by the destinations to arguments concerning the foregoing,
which the orders may be routed. including whether the proposed rule SECURITIES AND EXCHANGE
change is consistent with the Act. COMMISSION
B. Self-Regulatory Organization’s Comments may be submitted by any of
Statement on Burden on Competition the following methods: [Release No. 34–78107; File No. SR–BX–
2016–036]
The Exchange does not believe its Electronic Comments
proposed amendment to its Fee • Use the Commission’s Internet Self-Regulatory Organizations;
Schedule would impose any burden on comment form (http://www.sec.gov/ NASDAQ BX, Inc.; Notice of Filing and
competition that is not necessary or rules/sro.shtml); or Immediate Effectiveness of Proposed
appropriate in furtherance of the • Send an email to rule-comments@ Rule Change To Provide a Process for
purposes of the Act. The Exchange does sec.gov. Please include File Number SR– an Expedited Suspension Proceeding
not believe that the proposed changes BatsEDGX–2016–23 on the subject line. and Adopt a Rule To Prohibit
represents a significant departure from Disruptive Options Quoting and
previous pricing offered by the Paper Comments Trading Activity
Exchange or pricing offered by the • Send paper comments in triplicate
June 21, 2016.
Exchange’s competitors. Additionally, to Secretary, Securities and Exchange
Members may opt to disfavor the Pursuant to Section 19(b)(1) of the
Commission, 100 F Street NE.,
Exchange’s pricing if they believe that Securities Exchange Act of 1934 (the
Washington, DC 20549–1090.
alternatives offer them better value. For ‘‘Act’’),1 and Rule 19b–4 thereunder,2
All submissions should refer to File notice is hereby given that on June 17,
example, routing through Bats Trading Number SR–BatsEDGX–2016–23. This
is voluntary and Members seeking to 2016, NASDAQ BX, Inc. (‘‘BX’’ or
file number should be included on the ‘‘Exchange’’) filed with the Securities
post such orders to away destinations subject line if email is used. To help the
may connect to those destinations and Exchange Commission
Commission process and review your (‘‘Commission’’) the proposed rule
directly and be charged the fee or comments more efficiently, please use
provide the rebate from that destination. change as described in Items I, II and III
only one method. The Commission will below, which Items have been prepared
Accordingly, the Exchange does not post all comments on the Commission’s
believe that the proposed changes will by the Exchange. The Commission is
Internet Web site (http://www.sec.gov/ publishing this notice to solicit
impair the ability of Members or rules/sro.shtml). Copies of the
competing venues to maintain their comments on the proposed rule change
submission, all subsequent from interested persons.
competitive standing in the financial amendments, all written statements
markets. The Exchange believes that its with respect to the proposed rule I. Self-Regulatory Organization’s
proposal would not burden intramarket change that are filed with the Statement of the Terms of Substance of
competition because the proposed rate Commission, and all written the Proposed Rule Change
would apply uniformly to all Members. communications relating to the The Exchange proposes to adopt a
C. Self-Regulatory Organization’s proposed rule change between the new options rule to clearly prohibit
Statement on Comments on the Commission and any person, other than disruptive quoting and trading activity
Proposed Rule Change Received From those that may be withheld from the on the Exchange, as further described
Members, Participants, or Others public in accordance with the below.
mstockstill on DSK3G9T082PROD with NOTICES
provisions of 5 U.S.C. 552, will be The text of the proposed rule change
The Exchange has not solicited, and available for Web site viewing and is available on the Exchange’s Web site
does not intend to solicit, comments on printing in the Commission’s Public at http://
this proposed rule change. The Reference Room, 100 F Street NE., nasdaqomxbx.cchwallstreet.com/, at the
Exchange has not received any Washington, DC 20549, on official
18 17 CFR 200.30–3(a)(12).
16 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1).
to another market. See the Nasdaq fee schedule at
id. 17 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4.
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Document Created: 2016-06-25 02:06:32
Document Modified: 2016-06-25 02:06:32
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 41617 |
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