81 FR 41626 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Order Marking
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 123 (June 27, 2016)
Federal Register Volume 81, Issue 123 (June 27, 2016)
| Page Range | 41626-41628 | |
| FR Document | 2016-15074 |
[Federal Register Volume 81, Number 123 (Monday, June 27, 2016)] [Notices] [Pages 41626-41628] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-15074] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78110; File No. SR-CBOE-2016-050] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Order Marking 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 16, 2016, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(6) thereunder.\4\ 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)(iii). \4\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange seeks to update certain order marking requirements. The text of the proposed rule change is provided below. (additions are italicized; deletions are [bracketed]) * * * * * Chicago Board Options Exchange, Incorporated Rules * * * * * Rule 6.9. Solicited Transactions A Trading Permit Holder or TPH organization representing an order respecting an option traded on the Exchange (an ``original order''), including a spread, combination, or straddle order as defined in Rule 6.53, a stock-option order as defined in Rule 1.1(ii), a security future-option order as defined in Rule 1.1(zz), or any other complex order as defined in Rule 6.53C, may solicit a Trading Permit Holder or TPH organization or a non-Trading Permit Holder customer or broker- dealer (the ``solicited person'') to transact in-person or by order (a ``solicited order'') with the original order. In addition, whenever a floor broker who is aware of, but does not represent, an original order solicits one or more persons or orders in response to an original order, the persons solicited and any resulting orders are solicited persons or solicited orders subject to this Rule. Original orders and solicited orders are subject to the following conditions. (a)-(e) No change. (f) All orders initiated as a result of a solicitation must be marked [``SL.''] in a manner and form prescribed by the Exchange and announced via Regulatory Circular. [If the solicited person is on the trading floor and elects to participate by order, the solicited person must retain a copy of the solicited order on the trading floor so long as the order is active.] * * * * * Rule 6.53. Certain Types of Orders Defined One or more of the following order types may be made available on a class-by-class basis. Certain order types may not be made available for all Exchange systems. The classes and/or systems for which the order types shall be available will be as provided in the Rules, as the context may indicate, or as otherwise specified via Regulatory Circular. (a)-(f) No change. (g) Not Held Order. A not held order is an order marked ``not held'', ``take time'' or which bears any qualifying notation giving discretion as to the price or time at which such order is to be executed. An order entrusted to a Floor Broker will be considered a Not Held Order, unless otherwise specified by a Floor Broker's client or the order was received by the Exchange electronically and subsequently routed to a Floor Broker or PAR Official pursuant to the order entry firm's routing instructions. Not Held Orders and/or ``held'' orders must be marked in a manner and form prescribed by the Exchange and announced via Regulatory Circular. * * * * * The text of the proposed rule change is also available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, 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 [[Page 41627]] any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to update order marking requirements applicable to solicited orders under Rule 6.9(f) and Not Held Orders under Rule 6.53(g). Rule 6.9 governs the procedures and priority applicable to the open outcry execution of an order solicited (a ``solicited order'') by a Trading Permit Holder or TPH organization representing an order respecting an option traded on the Exchange (an ``original order'').\5\ Rule 6.9(f) currently provides that orders initiated as a result of a solicitation must be marked ``SL.'' The requirement to mark an order ``SL'' was implemented when paper order tickets were utilized on the floor of the Exchange, and the marking requirement has not been updated since paper order tickets stopped being used. Thus, the Exchange is proposing to update Rule 6.9(f) by proposing that all orders initiated as a result of a solicitation must be marked in a manner and form prescribed by the Exchange and announced via Regulatory Circular.\6\ --------------------------------------------------------------------------- \5\ Rule 6.9 specifically sets forth rules governing the priority of a solicited order when the terms of the original order were either disclosed to the trading crowd prior to the solicitation (Rule 6.9(a)(b) and (c)) or disclosed to the trading crowd after the solicitation (Rule 6.9(d)); prohibiting trading based on knowledge of an imminent undisclosed solicited transactions (Rule 6.9(e)); and requiring solicited orders be marked as such (Rule 6.9(f)). \6\ The Exchange proposes to remove the requirement that if the solicited person is on the trading floor and elects to participate by order, the solicited person must retain a copy of the solicited order on the trading floor so long as the order is active. The requirement is no longer relevant as orders are captured in the electronic audit trail. --------------------------------------------------------------------------- The Exchange, through a third-party vendor, is in the process of updating the Exchange provided Floor Broker Workstation (``FBW2'') \7\ and has updated Exchange provided PULSe to enable TPHs to mark solicited orders upon systematization. Additionally, the Exchange is in the process of updating the Public Automatic Routing System (``PAR'') and the Order Management Terminal (``OMT'') to allow orders that are identified as solicited orders to be captured in the electronic audit trail. The Exchange will not implement any solicited order marking requirement changes pursuant to amended Rule 6.9(f) until the enhancements to FBW2, PULSe, PAR, and OMT are complete. --------------------------------------------------------------------------- \7\ See RG16-052. --------------------------------------------------------------------------- Rule 6.53(g) defines a ``Not Held Order'' as an order marked ``not held'', ``take time'' or which bears any qualifying notation giving discretion as to the price or time at which such order is to be executed.\8\ On June 25, 2015, the Securities and Exchange Commission (the ``Commission'') approved a rule filing providing that an order entrusted to a Floor Broker is considered a Not Held Order, unless otherwise specified by a Floor Broker's client or the order was received by the Exchange electronically and subsequently routed to a Floor Broker or PAR Official pursuant to the order entry firm's routing instructions.\9\ --------------------------------------------------------------------------- \8\ A ``Not Held'' order generally is one where the customer gives the Floor Broker discretion in executing the order, both with respect to the time of execution and the price (though the customer may specify a limit price), and the Floor Broker works the order over a period of time to avoid market impact while seeking best execution of the order. \9\ See Securities Exchange Act Release No. 75299 (June 25, 2015), 80 FR 37700 (July 1, 2015) (SR-CBOE-2015-047) (Approval Order). --------------------------------------------------------------------------- Although SR-CBOE-2015-047 provides that orders entrusted to Floor Brokers are by default Not Held Orders, the Exchange currently requires Not Held Orders to be proactively marked as Not Held Orders.\10\ Orders that are not proactively marked as Not Held Orders are treated as ``held'' for regulatory purposes. However, the Exchange is in the process of updating PAR and OMT to instead allow certain orders that are not proactively marked as ``held'' to be considered Not Held Orders, which reflects the fact that orders entrusted to Floor Brokers are by default Not Held Orders. Although it's reasonably implied from current Rule 6.53(g) that an order that is ``held'' would need to be marked in a manner to differentiate them from Not Held Orders, the Exchange proposes to amend Rule 6.53(g) to explicitly provide that Not Held Orders and/or ``held'' orders must be marked in a manner and form prescribed by the Exchange and announced via Regulatory Circular. The Exchange will not modify the current Not Held marking requirements \11\ pursuant to amended Rule 6.53(g) until the enhancements to PAR and OMT are complete. --------------------------------------------------------------------------- \10\ See Regulatory Circular RG15-136. \11\ Id. --------------------------------------------------------------------------- The Exchange will announce the implementation date of this rule filing via Regulatory Circular at least 30 days prior to the implementation date. The implementation date will be within 180 days of the effective date of this filing. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\12\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \13\ requirements that the rules of an exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \14\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). \14\ Id. --------------------------------------------------------------------------- In particular, the proposed amendment to Rule 6.9(f) would promote just and equitable principles of trading by enhancing the Exchange's audit trail. An enhanced audit trail will help the Exchange to regulate these kinds of orders more thoroughly, which should serve to promote just and equitable trading of solicited orders on the Exchange. The Exchange also believes the proposed rule change is consistent with Section 6(b)(1) of the Act,\15\ which provides that the Exchange be organized and have the capacity to be able to carry out the purposes of the Act and to enforce compliance by the Exchange's TPHs and persons associated with its TPHs with the Act, the rules and regulations thereunder, and the rules of the Exchange. With an enhanced audit trail of solicited orders, the Exchange believes it will be able to more comprehensively monitor the trading of solicited orders on the Exchange. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78f(b)(1). --------------------------------------------------------------------------- The proposed addition to Rule 6.53(g) removes impediments to and perfects the mechanism of a free and open market and a national market system, and, in general, protects investors and the public interest by eliminating any [[Page 41628]] potential confusion as to whether TPHs must proactively mark certain orders as ``held'' instead of proactively marking certain orders as Not Held Orders, which reflects the fact that orders entrusted to Floor Brokers are by default Not Held Orders. B. Self-Regulatory Organization's Statement on Burden on Competition CBOE 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 particular, the proposed rule change will not impose any burden on any intramarket competition as it will be applied to similarly situated groups trading on the Exchange equally. The Exchange does not believe the proposed rule change will impose any burden on intermarket competition as the proposed changes merely amends existing TPH obligations related to the marking of solicited orders, ``held'' orders, and Not Held Orders. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: A. Significantly affect the protection of investors or the public interest; B. impose any significant burden on competition; and C. become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act \16\ and Rule 19b-4(f)(6) \17\ thereunder. 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 will institute proceedings to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A). \17\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- 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-CBOE-2016-050 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-CBOE-2016-050. 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-CBOE-2016-050 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. 2016-15074 Filed 6-24-16; 8:45 am] BILLING CODE 8011-01-P
![41626 Federal Register / Vol. 81, No. 123 / Monday, June 27, 2016 / Notices
2012. On February 22, 2016, SECURITIES AND EXCHANGE whenever a floor broker who is aware
Corporation Finance sent a delinquency COMMISSION of, but does not represent, an original
letter to GNBA requesting compliance order solicits one or more persons or
[Release No. 34–78110; File No. SR–CBOE–
with its periodic filing requirements but 2016–050]
orders in response to an original order,
GNBA did not receive the delinquency the persons solicited and any resulting
letter due to its failure to maintain a Self-Regulatory Organizations; orders are solicited persons or solicited
valid address on file with the Chicago Board Options Exchange, orders subject to this Rule. Original
Commission as required by Commission Incorporated; Notice of Filing and orders and solicited orders are subject to
Issuer Address Rules. As of June 16, Immediate Effectiveness of a Proposed the following conditions.
2016, the common stock of GNBA was Rule Change Related to Order Marking (a)–(e) No change.
quoted on OTC Link, had five market (f) All orders initiated as a result of a
June 21, 2016. solicitation must be marked [‘‘SL.’’] in a
makers, and was eligible for the Pursuant to Section 19(b)(1) of the manner and form prescribed by the
‘‘piggyback’’ exception of Exchange Act Securities Exchange Act of 1934 (the Exchange and announced via
Rule 15c2–11(f)(3). ‘‘Act’’),1 and Rule 19b–4 thereunder,2 Regulatory Circular. [If the solicited
It appears to the Commission that notice is hereby given that on June 16, person is on the trading floor and elects
there is a lack of current and accurate 2016, Chicago Board Options Exchange, to participate by order, the solicited
information concerning the securities of Incorporated (the ‘‘Exchange’’ or person must retain a copy of the
Logic Devices, Incorporated (‘‘LOGC’’) ‘‘CBOE’’) filed with the Securities and solicited order on the trading floor so
(CIK No. 802851), a suspended Exchange Commission (the long as the order is active.]
California corporation located in ‘‘Commission’’) the proposed rule
* * * * *
Sunnyvale, California with a class of change as described in Items I, II, and
III below, which Items have been Rule 6.53. Certain Types of Orders
securities registered with the
prepared by the Exchange. The Defined
Commission pursuant to Exchange Act
Exchange filed the proposal as a ‘‘non-
Section 12(g) because it is delinquent in One or more of the following order
controversial’’ proposed rule change
its periodic filings with the types may be made available on a class-
pursuant to Section 19(b)(3)(A)(iii) of
Commission, having not filed any by-class basis. Certain order types may
the Act 3 and Rule 19b–4(f)(6)
periodic reports since it filed a Form not be made available for all Exchange
thereunder.4 The Commission is
10–Q for the period ended June 30, systems. The classes and/or systems for
publishing this notice to solicit
2012. On November 14, 2013, which the order types shall be available
comments on the proposed rule change
Corporation Finance sent a delinquency will be as provided in the Rules, as the
from interested persons.
letter to LOGC requesting compliance context may indicate, or as otherwise
I. Self-Regulatory Organization’s specified via Regulatory Circular.
with its periodic filing requirements but
Statement of the Terms of Substance of (a)–(f) No change.
LOGC did not receive the delinquency
the Proposed Rule Change (g) Not Held Order. A not held order
letter due to its failure to maintain a
The Exchange seeks to update certain is an order marked ‘‘not held’’, ‘‘take
valid address on file with the time’’ or which bears any qualifying
Commission as required by Commission order marking requirements. The text of
the proposed rule change is provided notation giving discretion as to the price
Issuer Address Rules. As of June 16, or time at which such order is to be
2016, the common stock of LOGC was below.
(additions are italicized; deletions are executed. An order entrusted to a Floor
quoted on OTC Link, had five market Broker will be considered a Not Held
makers, and was eligible for the [bracketed])
Order, unless otherwise specified by a
‘‘piggyback’’ exception of Exchange Act * * * * * Floor Broker’s client or the order was
Rule 15c2–11(f)(3). Chicago Board Options Exchange,
received by the Exchange electronically
Incorporated Rules
The Commission is of the opinion that and subsequently routed to a Floor
* * * * * Broker or PAR Official pursuant to the
the public interest and the protection of
investors require a suspension of trading Rule 6.9. Solicited Transactions order entry firm’s routing instructions.
in the securities of the above-listed Not Held Orders and/or ‘‘held’’ orders
A Trading Permit Holder or TPH
companies. Therefore, it is ordered, must be marked in a manner and form
organization representing an order
pursuant to Section 12(k) of the prescribed by the Exchange and
respecting an option traded on the
Securities Exchange Act of 1934, that announced via Regulatory Circular.
Exchange (an ‘‘original order’’),
trading in the securities of the above- including a spread, combination, or * * * * *
listed companies is suspended for the straddle order as defined in Rule 6.53, The text of the proposed rule change
period from 9:30 a.m. EDT on June 23, a stock-option order as defined in Rule is also available on the Exchange’s Web
2016, through 11:59 p.m. EDT on July 7, 1.1(ii), a security future-option order as site (http://www.cboe.com/AboutCBOE/
2016. defined in Rule 1.1(zz), or any other CBOELegalRegulatoryHome.aspx), at
complex order as defined in Rule 6.53C, the Exchange’s Office of the Secretary,
By the Commission. and at the Commission’s Public
may solicit a Trading Permit Holder or
Jill M. Peterson, TPH organization or a non-Trading Reference Room.
Assistant Secretary. Permit Holder customer or broker-dealer II. Self-Regulatory Organization’s
mstockstill on DSK3G9T082PROD with NOTICES
[FR Doc. 2016–15214 Filed 6–23–16; 11:15 am] (the ‘‘solicited person’’) to transact in- Statement of the Purpose of, and
BILLING CODE 8011–01–P person or by order (a ‘‘solicited order’’) Statutory Basis for, the Proposed Rule
with the original order. In addition, Change
1 15 U.S.C. 78s(b)(1). In its filing with the Commission, the
2 17 CFR 240.19b–4. Exchange included statements
3 15 U.S.C. 78s(b)(3)(A)(iii). concerning the purpose of and basis for
4 17 CFR 240.19b–4(f)(6). the proposed rule change and discussed
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![41628 Federal Register / Vol. 81, No. 123 / Monday, June 27, 2016 / Notices
potential confusion as to whether TPHs IV. Solicitation of Comments For the Commission, by the Division of
must proactively mark certain orders as Trading and Markets, pursuant to delegated
‘‘held’’ instead of proactively marking Interested persons are invited to authority.18
certain orders as Not Held Orders, submit written data, views, and Robert W. Errett,
which reflects the fact that orders arguments concerning the foregoing, Deputy Secretary.
entrusted to Floor Brokers are by default including whether the proposed rule [FR Doc. 2016–15074 Filed 6–24–16; 8:45 am]
Not Held Orders. change is consistent with the Act. BILLING CODE 8011–01–P
Comments may be submitted by any of
B. Self-Regulatory Organization’s
the following methods:
Statement on Burden on Competition SECURITIES AND EXCHANGE
CBOE does not believe that the Electronic Comments COMMISSION
proposed rule change will impose any • Use the Commission’s Internet [Release Nos. 33–10102; 34–78127; File No.
burden on competition that is not comment form (http://www.sec.gov/ 265–28]
necessary or appropriate in furtherance rules/sro.shtml); or
of the purposes of the Act. In particular, Investor Advisory Committee Meeting
the proposed rule change will not • Send an email to rule-
impose any burden on any intramarket comments@sec.gov. Please include File AGENCY: Securities and Exchange
competition as it will be applied to Number SR–CBOE–2016–050 on the Commission.
similarly situated groups trading on the subject line. ACTION: Notice of meeting of Securities
Exchange equally. The Exchange does and Exchange Commission Dodd-Frank
Paper Comments Investor Advisory Committee.
not believe the proposed rule change
will impose any burden on intermarket • Send paper comments in triplicate SUMMARY: The Securities and Exchange
competition as the proposed changes to Secretary, Securities and Exchange Commission Investor Advisory
merely amends existing TPH obligations Commission, 100 F Street NE., Committee, established pursuant to
related to the marking of solicited Washington, DC 20549–1090. Section 911 of the Dodd-Frank Wall
orders, ‘‘held’’ orders, and Not Held Street Reform and Consumer Protection
Orders. All submissions should refer to File
Number SR–CBOE–2016–050. This file Act of 2010, is providing notice that it
C. Self-Regulatory Organization’s number should be included on the will hold a public meeting. The public
Statement on Comments on the is invited to submit written statements
subject line if email is used. To help the
Proposed Rule Change Received From to the Committee.
Commission process and review your
Members, Participants, or Others DATES: The meeting will be held on
comments more efficiently, please use
Thursday, July 14, 2016 from 9:00 a.m.
The Exchange neither solicited nor only one method. The Commission will
until 3:30 p.m. (ET). Written statements
received comments on the proposed post all comments on the Commission’s
should be received on or before July 14,
rule change. Internet Web site (http://www.sec.gov/ 2016.
III. Date of Effectiveness of the rules/sro.shtml). Copies of the
ADDRESSES: The meeting will be held in
Proposed Rule Change and Timing for submission, all subsequent
Multi-Purpose Room LL–006 at the
Commission Action amendments, all written statements Commission’s headquarters, 100 F
with respect to the proposed rule Street NE., Washington, DC 20549. The
Because the foregoing proposed rule change that are filed with the
change does not: meeting will be webcast on the
Commission, and all written Commission’s Web site at www.sec.gov.
A. Significantly affect the protection communications relating to the
of investors or the public interest; Written statements may be submitted by
proposed rule change between the any of the following methods:
B. impose any significant burden on Commission and any person, other than
competition; and those that may be withheld from the Electronic Statements
C. become operative for 30 days from public in accordance with the D Use the Commission’s Internet
the date on which it was filed, or such provisions of 5 U.S.C. 552, will be submission form (http://www.sec.gov/
shorter time as the Commission may available for Web site viewing and rules/other.shtml); or
designate, it has become effective printing in the Commission’s Public D Send an email message to rules-
pursuant to Section 19(b)(3)(A) of the comments@sec.gov. Please include File
Reference Room, 100 F Street NE.,
Act 16 and Rule 19b–4(f)(6) 17 No. 265–28 on the subject line; or
Washington, DC 20549 on official
thereunder. At any time within 60 days
business days between the hours of Paper Statements
of the filing of the proposed rule change,
the Commission summarily may 10:00 a.m. and 3:00 p.m. Copies of the D Send paper statements to Brent J.
temporarily suspend such rule change if filing also will be available for Fields, Secretary, Securities and
it appears to the Commission that such inspection and copying at the principal Exchange Commission, 100 F Street NE.,
action is necessary or appropriate in the office of the Exchange. All comments Washington, DC 20549–1090.
public interest, for the protection of received will be posted without change; All submissions should refer to File No.
investors, or otherwise in furtherance of the Commission does not edit personal 265–28. This file number should be
the purposes of the Act. If the identifying information from included on the subject line if email is
Commission takes such action, the submissions. You should submit only
mstockstill on DSK3G9T082PROD with NOTICES
used. To help us process and review
Commission will institute proceedings information that you wish to make your statement more efficiently, please
to determine whether the proposed rule available publicly. All submissions use only one method.
change should be approved or should refer to File Number SR–CBOE– Statements also will be available for
disapproved. 2016–050 and should be submitted on Web site viewing and printing in the
or before July 18, 2016. Commission’s Public Reference Room,
16 15 U.S.C. 78s(b)(3)(A).
17 17 CFR 240.19b–4(f)(6). 18 17 CFR 200.30–3(a)(12).
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Document Created: 2016-06-25 02:06:41
Document Modified: 2016-06-25 02:06:41
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