81_FR_43452 81 FR 43325 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 7260 by Extending the Penny Pilot Program Through December 31, 2016

81 FR 43325 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 7260 by Extending the Penny Pilot Program Through December 31, 2016

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 127 (July 1, 2016)

Page Range43325-43326
FR Document2016-15712

Federal Register, Volume 81 Issue 127 (Friday, July 1, 2016)
[Federal Register Volume 81, Number 127 (Friday, July 1, 2016)]
[Notices]
[Pages 43325-43326]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15712]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78172; File No. SR-BOX-2016-24]


Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Amend Rule 7260 by Extending the Penny Pilot Program Through December 
31, 2016

June 28, 2016.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on June 13, 2016, BOX Options Exchange LLC (the ``Exchange'') 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 self-regulatory organization. The Commission 
is publishing this notice to solicit comments on the proposed rule from 
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Rule 7260 by extending the Penny 
Pilot Program through December 31, 2016. The text of the proposed rule 
change is available from the principal office of the Exchange, at the 
Commission's Public Reference Room and also on the Exchange's Internet 
Web site at http://boxexchange.com.

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 self-regulatory organization 
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 self-regulatory organization 
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 extend the effective time period of the 
Penny Pilot Program that is currently scheduled to expire on June 30, 
2016, until December 31, 2016.\3\ The Penny Pilot Program permits 
certain classes to be quoted in penny increments. The minimum price 
variation for all classes included in the Penny Pilot Program, except 
for PowerShares QQQ Trust (``QQQQ'')[supreg], SPDR S&P 500 Exchange 
Traded Funds (``SPY''), and iShares Russell 2000 Index Funds (``IWM''), 
will continue to be $0.01 for all quotations in options series that are 
quoted at less than $3 per contract and $0.05 for all quotations in 
options series that are quoted at $3 per contract or greater. QQQQ, 
SPY, and IWM will continue to be quoted in $0.01 increments for all 
options series.
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    \3\ The Penny Pilot Program has been in effect on the Exchange 
since its inception in May 2012. See Securities Exchange Act Release 
Nos. 66871 (April 27, 2012), 77 FR 26323 (May 3, 2012) (File No. 10-
206, In the Matter of the Application of BOX Options Exchange LLC 
for Registration as a National Securities Exchange Findings, 
Opinion, and Order of the Commission), 67328 (June 29, 2012), 77 FR 
40123 (July 6, 2012) (SR-BOX-2012-007), 68425 (December 13, 2012), 
77 FR 75234 (December 19, 2013) (SR-BOX-2012-021), 69789 (June 18, 
2013), 78 FR 37854 (June 24, 2013) (SR-BOX-2013-31), 71056 (December 
12, 2013), 78 FR 76691 (December 18, 2013) (SR-BOX-2013-56), 72348 
(June 9, 2014), 79 FR 33976 (June 13, 2014) (SR-BOX-2014-17), 73822 
(December 11, 2014), 79 FR 75606 (December 18, 2014) (SR-BOX-2014-
29), and 75295 (June 25, 2015), 80 FR 37690 (July 1, 2015) (SR-BOX-
2015-23). The extension of the effective date and the revision of 
the date to replace issues that have been delisted are the only 
changes to the Penny Pilot Program being proposed at this time.
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    The Exchange may replace, on a semi-annual basis, any Pilot Program 
classes that have been delisted on the second trading day following 
July 1, 2016. The Exchange notes that the replacement classes will be 
selected based on trading activity for the six month period beginning 
December 1, 2015 and ending May 31, 2016 for the July 2016 
replacements. The Exchange will employ the same parameters to 
prospective replacement classes as approved and applicable under the 
Pilot Program, including excluding high-priced underlying securities. 
The Exchange will distribute a Regulatory Circular notifying 
Participants which replacement classes shall be included in the Penny 
Pilot Program.
    BOX is specifically authorized to act jointly with the other 
options exchanges participating in the Pilot Program in identifying any 
replacement class.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of section 6(b) of the Act,\4\ in general, and section 
6(b)(5) of the Act,\5\ in particular, in that it is 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 facilitating transactions in securities, and to 
remove impediments to and perfect the mechanism of a free and open 
market and a national market system, and, in general protect investors 
and the public interest.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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    In particular, the proposed rule change, which extends the Penny 
Pilot until December 31, 2016 and changes the dates for replacing Penny 
Pilot issues that were delisted to the second trading day following 
July 1, 2016, will enable public customers and other market 
participants to express their true prices to buy and sell options for 
the benefit of all market participants. This is consistent with the 
Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance

[[Page 43326]]

of the purposes of the Act. To the contrary, this proposal is pro-
competitive because it allows Penny Pilot issues to continue trading on 
the Exchange. Moreover, the Exchange believes that the proposed rule 
change will allow for further analysis of the Pilot and a determination 
of how the Pilot should be structured in the future; and will serve to 
promote regulatory clarity and consistency, thereby reducing burdens on 
the marketplace and facilitating investor protection. The Pilot is an 
industry wide initiative supported by all other option exchanges. The 
Exchange believes that extending the Pilot will allow for continued 
competition between market participants on the Exchange trading similar 
products as their counterparts on other exchanges, while at the same 
time allowing the Exchange to continue to compete for order flow with 
other exchanges in option issues trading as part of the Pilot.

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

    The Exchange has neither solicited nor received comments on the 
proposed rule change.

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 \6\ and Rule 19b-4(f)(6) thereunder.\7\ 
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 and Rule 19b-
4(f)(6)(iii) thereunder.
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    \6\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \7\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \8\ normally 
does not become operative prior to 30 days after the date of the 
filing.\9\ However, pursuant to Rule 19b-4(f)(6)(iii), 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.\10\ Accordingly, the Commission designates the 
proposed rule change as operative upon filing with the Commission.\11\
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    \8\ 17 CFR 240.19b-4(f)(6).
    \9\ 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.
    \10\ See Securities Exchange Act Release No. 61061 (November 24, 
2009), 74 FR 62857 (December 1, 2009) (SR-NYSEArca-2009-44). See 
also supra note 3.
    \11\ 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).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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) of the Act to determine whether the proposed rule 
change should be approved or disapproved.

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-BOX-2016-24 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-BOX-2016-24. 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 20549-1090 on official business days between the hours 
of 10:00 a.m. and 3:00 p.m. Copies of the filing will also 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-BOX-2016-24 and should be 
submitted on or before July 22, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-15712 Filed 6-30-16; 8:45 am]
BILLING CODE 8011-01-P



                                                                                      Federal Register / Vol. 81, No. 127 / Friday, July 1, 2016 / Notices                                              43325

                                                    proposed rule change between the                        I. Self-Regulatory Organization’s                        $0.01 for all quotations in options series
                                                    Commission and any person, other than                   Statement of the Terms of Substance of                   that are quoted at less than $3 per
                                                    those that may be withheld from the                     the Proposed Rule Change                                 contract and $0.05 for all quotations in
                                                    public in accordance with the                             The Exchange proposes to amend                         options series that are quoted at $3 per
                                                    provisions of 5 U.S.C. 552, will be                     Rule 7260 by extending the Penny Pilot                   contract or greater. QQQQ, SPY, and
                                                    available for Web site viewing and                      Program through December 31, 2016.                       IWM will continue to be quoted in $0.01
                                                    printing in the Commission’s Public                     The text of the proposed rule change is                  increments for all options series.
                                                    Reference Room, 100 F Street NE.,                                                                                   The Exchange may replace, on a semi-
                                                                                                            available from the principal office of the
                                                    Washington, DC 20549 on official                                                                                 annual basis, any Pilot Program classes
                                                                                                            Exchange, at the Commission’s Public
                                                                                                                                                                     that have been delisted on the second
                                                    business days between the hours of                      Reference Room and also on the
                                                                                                                                                                     trading day following July 1, 2016. The
                                                    10:00 a.m. and 3:00 p.m. Copies of such                 Exchange’s Internet Web site at http://
                                                                                                                                                                     Exchange notes that the replacement
                                                    filing also will be available for                       boxexchange.com.
                                                                                                                                                                     classes will be selected based on trading
                                                    inspection and copying at the principal                 II. Self-Regulatory Organization’s                       activity for the six month period
                                                    office of the Exchange. All comments                    Statement of the Purpose of, and                         beginning December 1, 2015 and ending
                                                    received will be posted without change;                 Statutory Basis for, the Proposed Rule                   May 31, 2016 for the July 2016
                                                    the Commission does not edit personal                   Change                                                   replacements. The Exchange will
                                                    identifying information from                                                                                     employ the same parameters to
                                                    submissions. You should submit only                       In its filing with the Commission, the
                                                                                                            self-regulatory organization included                    prospective replacement classes as
                                                    information that you wish to make                                                                                approved and applicable under the Pilot
                                                                                                            statements concerning the purpose of,
                                                    available publicly. All submissions                                                                              Program, including excluding high-
                                                                                                            and basis for, the proposed rule change
                                                    should refer to File Number SR–BOX–                                                                              priced underlying securities. The
                                                                                                            and discussed any comments it received
                                                    2016–25, and should be submitted on or                                                                           Exchange will distribute a Regulatory
                                                                                                            on the proposed rule change. The text
                                                    before July 22, 2016.                                   of these statements may be examined at                   Circular notifying Participants which
                                                      For the Commission, by the Division of                the places specified in Item IV below.                   replacement classes shall be included in
                                                    Trading and Markets, pursuant to delegated              The self-regulatory organization has                     the Penny Pilot Program.
                                                    authority.20                                                                                                        BOX is specifically authorized to act
                                                                                                            prepared summaries, set forth in
                                                                                                                                                                     jointly with the other options exchanges
                                                    Robert W. Errett,                                       sections A, B, and C below, of the most
                                                                                                                                                                     participating in the Pilot Program in
                                                    Deputy Secretary.                                       significant aspects of such statements.
                                                                                                                                                                     identifying any replacement class.
                                                    [FR Doc. 2016–15711 Filed 6–30–16; 8:45 am]             A. Self-Regulatory Organization’s
                                                                                                                                                                     2. Statutory Basis
                                                    BILLING CODE 8011–01–P                                  Statement of the Purpose of, and
                                                                                                            Statutory Basis for, the Proposed Rule                      The Exchange believes that the
                                                                                                            Change                                                   proposal is consistent with the
                                                    SECURITIES AND EXCHANGE                                                                                          requirements of section 6(b) of the Act,4
                                                                                                            1. Purpose                                               in general, and section 6(b)(5) of the
                                                    COMMISSION
                                                                                                               The Exchange proposes to extend the                   Act,5 in particular, in that it is designed
                                                    [Release No. 34–78172; File No. SR–BOX–                 effective time period of the Penny Pilot                 to prevent fraudulent and manipulative
                                                    2016–24]                                                Program that is currently scheduled to                   acts and practices, to promote just and
                                                                                                            expire on June 30, 2016, until December                  equitable principles of trade, to foster
                                                    Self-Regulatory Organizations; BOX                      31, 2016.3 The Penny Pilot Program                       cooperation and coordination with
                                                    Options Exchange LLC; Notice of                         permits certain classes to be quoted in                  persons engaged in facilitating
                                                    Filing and Immediate Effectiveness of                   penny increments. The minimum price                      transactions in securities, and to remove
                                                    a Proposed Rule Change To Amend                         variation for all classes included in the                impediments to and perfect the
                                                    Rule 7260 by Extending the Penny                        Penny Pilot Program, except for                          mechanism of a free and open market
                                                    Pilot Program Through December 31,                      PowerShares QQQ Trust (‘‘QQQQ’’)®,                       and a national market system, and, in
                                                                                                            SPDR S&P 500 Exchange Traded Funds                       general protect investors and the public
                                                    2016
                                                                                                            (‘‘SPY’’), and iShares Russell 2000 Index                interest.
                                                    June 28, 2016.                                          Funds (‘‘IWM’’), will continue to be                        In particular, the proposed rule
                                                                                                                                                                     change, which extends the Penny Pilot
                                                       Pursuant to section 19(b)(1) of the                     3 The Penny Pilot Program has been in effect on       until December 31, 2016 and changes
                                                    Securities Exchange Act of 1934                         the Exchange since its inception in May 2012. See        the dates for replacing Penny Pilot
                                                    (‘‘Act’’),1 and Rule 19b–4 thereunder,2                 Securities Exchange Act Release Nos. 66871 (April
                                                                                                                                                                     issues that were delisted to the second
                                                                                                            27, 2012), 77 FR 26323 (May 3, 2012) (File No. 10–
                                                    notice is hereby given that on June 13,                 206, In the Matter of the Application of BOX             trading day following July 1, 2016, will
                                                    2016, BOX Options Exchange LLC (the                     Options Exchange LLC for Registration as a               enable public customers and other
                                                    ‘‘Exchange’’) filed with the Securities                 National Securities Exchange Findings, Opinion,          market participants to express their true
                                                    and Exchange Commission                                 and Order of the Commission), 67328 (June 29,
                                                                                                            2012), 77 FR 40123 (July 6, 2012) (SR–BOX–2012–
                                                                                                                                                                     prices to buy and sell options for the
                                                    (‘‘Commission’’) the proposed rule                      007), 68425 (December 13, 2012), 77 FR 75234             benefit of all market participants. This
                                                    change as described in Items I, and II                  (December 19, 2013) (SR–BOX–2012–021), 69789             is consistent with the Act.
                                                    below, which Items have been prepared                   (June 18, 2013), 78 FR 37854 (June 24, 2013) (SR–
                                                                                                                                                                     B. Self-Regulatory Organization’s
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                                                                            BOX–2013–31), 71056 (December 12, 2013), 78 FR
                                                    by the self-regulatory organization. The                76691 (December 18, 2013) (SR–BOX–2013–56),              Statement on Burden on Competition
                                                    Commission is publishing this notice to                 72348 (June 9, 2014), 79 FR 33976 (June 13, 2014)
                                                    solicit comments on the proposed rule                   (SR–BOX–2014–17), 73822 (December 11, 2014), 79            The Exchange does not believe that
                                                    from interested persons.                                FR 75606 (December 18, 2014) (SR–BOX–2014–29),           the proposed rule change will impose
                                                                                                            and 75295 (June 25, 2015), 80 FR 37690 (July 1,          any burden on competition not
                                                                                                            2015) (SR–BOX–2015–23). The extension of the
                                                                                                            effective date and the revision of the date to replace
                                                                                                                                                                     necessary or appropriate in furtherance
                                                      20 17 CFR 200.30–3(a)(12).
                                                                                                            issues that have been delisted are the only changes
                                                      1 15 U.S.C. 78s(b)(1).                                                                                          4 15
                                                                                                            to the Penny Pilot Program being proposed at this                U.S.C. 78f(b).
                                                      2 17 CFR 240.19b–4.                                   time.                                                     5 15   U.S.C. 78f(b)(5).



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                                                    43326                             Federal Register / Vol. 81, No. 127 / Friday, July 1, 2016 / Notices

                                                    of the purposes of the Act. To the                      pursuant to Rule 19b–4(f)(6)(iii), the                  Electronic Comments
                                                    contrary, this proposal is pro-                         Commission may designate a shorter
                                                    competitive because it allows Penny                     time if such action is consistent with the                • Use the Commission’s Internet
                                                    Pilot issues to continue trading on the                 protection of investors and the public                  comment form (http://www.sec.gov/
                                                    Exchange. Moreover, the Exchange                        interest. The Exchange has asked the                    rules/sro.shtml); or
                                                    believes that the proposed rule change                  Commission to waive the 30-day                            • Send an email to rule-comments@
                                                    will allow for further analysis of the                  operative delay so that the proposal may                sec.gov. Please include File Number SR–
                                                    Pilot and a determination of how the                    become operative immediately upon                       BOX–2016–24 on the subject line.
                                                    Pilot should be structured in the future;               filing. The Commission believes that
                                                    and will serve to promote regulatory                                                                            Paper Comments
                                                                                                            waiving the 30-day operative delay is
                                                    clarity and consistency, thereby                        consistent with the protection of                         • Send paper comments in triplicate
                                                    reducing burdens on the marketplace                     investors and the public interest                       to Secretary, Securities and Exchange
                                                    and facilitating investor protection. The               because doing so will allow the Pilot                   Commission, 100 F Street NE.,
                                                    Pilot is an industry wide initiative                    Program to continue without                             Washington, DC 20549–1090.
                                                    supported by all other option                           interruption in a manner that is
                                                    exchanges. The Exchange believes that                   consistent with the Commission’s prior                  All submissions should refer to File
                                                    extending the Pilot will allow for                      approval of the extension and expansion                 Number SR–BOX–2016–24. This file
                                                    continued competition between market                    of the Pilot Program and will allow the                 number should be included on the
                                                    participants on the Exchange trading                    Exchange and the Commission                             subject line if email is used. To help the
                                                    similar products as their counterparts                  additional time to analyze the impact of                Commission process and review your
                                                    on other exchanges, while at the same                   the Pilot Program.10 Accordingly, the                   comments more efficiently, please use
                                                    time allowing the Exchange to continue                  Commission designates the proposed                      only one method. The Commission will
                                                    to compete for order flow with other                    rule change as operative upon filing                    post all comments on the Commission’s
                                                    exchanges in option issues trading as                                                                           Internet Web site (http://www.sec.gov/
                                                                                                            with the Commission.11
                                                    part of the Pilot.                                                                                              rules/sro.shtml). Copies of the
                                                                                                               At any time within 60 days of the                    submission, all subsequent
                                                    C. Self-Regulatory Organization’s                       filing of such proposed rule change, the
                                                    Statement on Comments on the                                                                                    amendments, all written statements
                                                                                                            Commission summarily may                                with respect to the proposed rule
                                                    Proposed Rule Change Received From                      temporarily suspend such rule change if
                                                    Members, Participants, or Others                                                                                change that are filed with the
                                                                                                            it appears to the Commission that such                  Commission, and all written
                                                      The Exchange has neither solicited                    action is necessary or appropriate in the               communications relating to the
                                                    nor received comments on the proposed                   public interest, for the protection of                  proposed rule change between the
                                                    rule change.                                            investors, or otherwise in furtherance of               Commission and any person, other than
                                                    III. Date of Effectiveness of the                       the purposes of the Act. If the                         those that may be withheld from the
                                                    Proposed Rule Change and Timing for                     Commission takes such action, the                       public in accordance with the
                                                    Commission Action                                       Commission shall institute proceedings                  provisions of 5 U.S.C. 552, will be
                                                                                                            under section 19(b)(2)(B) of the Act to                 available for Web site viewing and
                                                       The Exchange has filed the proposed                  determine whether the proposed rule                     printing in the Commission’s Public
                                                    rule change pursuant to section                         change should be approved or                            Reference Room, 100 F Street NE.,
                                                    19(b)(3)(A)(iii) of the Act 6 and Rule                  disapproved.                                            Washington, DC 20549–1090 on official
                                                    19b–4(f)(6) thereunder.7 Because the
                                                                                                            IV. Solicitation of Comments                            business days between the hours of
                                                    proposed rule change does not: (i)
                                                    Significantly affect the protection of                                                                          10:00 a.m. and 3:00 p.m. Copies of the
                                                    investors or the public interest; (ii)                    Interested persons are invited to                     filing will also be available for
                                                    impose any significant burden on                        submit written data, views, and                         inspection and copying at the principal
                                                    competition; and (iii) become operative                 arguments concerning the foregoing,                     office of the Exchange. All comments
                                                    prior to 30 days from the date on which                 including whether the proposed rule                     received will be posted without change;
                                                    it was filed, or such shorter time as the               change is consistent with the Act.                      the Commission does not edit personal
                                                    Commission may designate, if                            Comments may be submitted by any of                     identifying information from
                                                    consistent with the protection of                       the following methods:                                  submissions. You should submit only
                                                    investors and the public interest, the                                                                          information that you wish to make
                                                    proposed rule change has become                         Commission written notice of the Exchange’s intent      available publicly. All submissions
                                                    effective pursuant to section 19(b)(3)(A)               to file the proposed rule change along with a brief     should refer to File Number SR–BOX–
                                                                                                            description and the text of the proposed rule           2016–24 and should be submitted on or
                                                    of the Act and Rule 19b–4(f)(6)(iii)                    change, at least five business days prior to the date
                                                    thereunder.                                             of filing of the proposed rule change, or such
                                                                                                                                                                    before July 22, 2016.
                                                       A proposed rule change filed under                   shorter time as designated by the Commission. The         For the Commission, by the Division of
                                                    Rule 19b–4(f)(6) 8 normally does not                    Exchange has satisfied this pre-filing requirement.     Trading and Markets, pursuant to delegated
                                                                                                               10 See Securities Exchange Act Release No. 61061
                                                    become operative prior to 30 days after                                                                         authority.12
                                                                                                            (November 24, 2009), 74 FR 62857 (December 1,
                                                    the date of the filing.9 However,                       2009) (SR–NYSEArca–2009–44). See also supra             Robert W. Errett,
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                                                                            note 3.                                                 Deputy Secretary.
                                                      6 15  U.S.C. 78s(b)(3)(A)(iii).                          11 For purposes only of waiving the operative
                                                                                                                                                                    [FR Doc. 2016–15712 Filed 6–30–16; 8:45 am]
                                                      7 17  CFR 240.19b–4(f)(6).                            delay for this proposal, the Commission has
                                                      8 17 CFR 240.19b–4(f)(6).                                                                                     BILLING CODE 8011–01–P
                                                                                                            considered the proposed rule’s impact on
                                                      9 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–      efficiency, competition, and capital formation. See
                                                    4(f)(6)(iii) requires the Exchange to give the          15 U.S.C. 78c(f).                                         12 17   CFR 200.30–3(a)(12).




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Document Created: 2016-07-14 11:38:11
Document Modified: 2016-07-14 11:38:11
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 43325 

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