81_FR_45725 81 FR 45590 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule

81 FR 45590 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 135 (July 14, 2016)

Page Range45590-45591
FR Document2016-16602

Federal Register, Volume 81 Issue 135 (Thursday, July 14, 2016)
[Federal Register Volume 81, Number 135 (Thursday, July 14, 2016)]
[Notices]
[Pages 45590-45591]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-16602]



[[Page 45590]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78260; File No. SR-NYSEArca-2016-95]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE 
Arca Options Fee Schedule

July 8, 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 July 1, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE 
Arca'') 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 
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.
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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 the NYSE Arca Options Fee Schedule 
(``Fee Schedule''). The Exchange proposes to implement the fee change 
effective July 1, 2016. The proposed rule change is available on the 
Exchange's Web site at www.nyse.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 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 those statements may be examined at 
the places specified in Item IV below. The Exchange has prepared 
summaries, set forth in sections A, B, and C below, of the most 
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this filing is to modify certain fees charged for 
Options Trading Permits (each an ``OTP'') and to decrease the fee 
charged to registered floor personnel who are not subject to an OTP 
Fee. The Exchange proposes to implement the changes effective July 1, 
2016.
    Currently, the Exchange charges Floor Brokers, Office, and Clearing 
participants a monthly fee of $1,000 for the first OTP and $250 per 
month for each additional OTP.\3\ The Exchange proposes to reduce the 
monthly OTP fee charged to Floor Brokers to $500, which is consistent 
with trading permit fees charged to similarly situated market 
participants on other options markets.\4\ The Exchange would continue 
to charge Office and Clearing participants a monthly OTP Fee of $1,000.
---------------------------------------------------------------------------

    \3\ See Fee Schedule, available here, https://www.nyse.com/publicdocs/nyse/markets/arca-options/NYSE_Arca_Options_Fee_Schedule.pdf.
    \4\ See NYSE Amex Options Fee Schedule, Section III.A. (Monthly 
ATP Fees), available here, https://www.nyse.com/publicdocs/nyse/markets/amex-options/NYSE_Amex_Options_Fee_Schedule.pdf (charging 
Floor Brokers monthly fee of $500 per ATP).
---------------------------------------------------------------------------

    In addition, the Exchange proposes to eliminate the reduced ($250) 
monthly for any of these participants and to delete the language 
stating that additional OTPs utilized by a Floor Broker would not 
enable a second Floor Broker to operate on the Floor. As an initial 
matter, Office and Clearing participants would rarely, if ever, require 
a second OTP, so eliminated the reduced $250 would have little to no 
practical impact on these participants. Regarding Floor Brokers, 
historically each Floor Broker could only log in to a single Floor 
Broker Order Capture Device (``FBOCD''), which provided access to the 
Exchange-sponsored Floor Broker Order Capture System.\5\ This 
limitation was required because the Floor Broker's log-in was used to 
populate ``Executing Broker'' fields within the FBOCD system. Thus, in 
order to conduct business at various locations on the Floor, Floor 
Brokers needed to be able to log in to multiple FBOCD and therefore 
would request additional OTPs. However, these additional OTPs were 
assigned to the same individual Floor Broker and were not used to 
provide for a second Floor Broker to operate on the Floor. In recent 
years, however, the Exchange has upgraded and modified its System such 
that each log-in permits Floor Brokers access to the System from any 
FBOCD, whether located in a Floor Broker's booth or a general access 
device located on the Trading Floor. As a result of this improved 
remote access, Floor Brokers no longer require additional OTPs to 
conduct business on the Floor. Therefore, the Exchange proposes to 
eliminate the provision and the associated reduced Fee.
---------------------------------------------------------------------------

    \5\ The FBOCD is used by Floor Brokerage operations to comply 
with the requirements of Rule 6.67, Order Format and System Entry 
Requirements, namely, the systemization of order details and 
electronic tracking of all events in the life of an order, up to and 
including cancellation or execution.
---------------------------------------------------------------------------

    The Exchange also proposes to reduce the Options Floor Access Fee 
(``Access Fee'') that is currently charged to registered personnel who 
work on the Floor, but do not require an OTP as they do not execute 
trades. The Exchange proposes to reduce the monthly Access Fee from 
$130 to $125, which is consistent with fees charged by other options 
exchanges for similarly situated floor personnel.\6\
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    \6\ See supra n. 5 [sic], NYSE Amex Options Fee Schedule, 
Section III.A. (Floor Access Fee) (charging $125 per month for all 
registered Floor personnel that do not pay Monthly ATP Fees).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\7\ in general, and furthers the 
objectives of Sections 6(b)(4) and (5) of the Act,\8\ in particular, 
because it provides for the equitable allocation of reasonable dues, 
fees, and other charges among its members, issuers and other persons 
using its facilities and does not unfairly discriminate between 
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes that modifying the OTP Fee for Floor Brokers 
is reasonable, equitable, and not unfairly discriminatory because the 
reduced fee would apply to all Floor Brokers who, unlike other market 
participants (i.e., Office and Clearing Participants), are restricted 
to conduct business only on a manual basis on the Trading Floor. The 
Exchange believes that the proposed changes would encourage 
competition, including by reducing the overhead costs for Floor Brokers 
so that they may conduct a more competitive business attracting manual 
orders to the Exchange, which additional volume and liquidity would 
benefit all Exchange participants through increased opportunities to 
trade as well as enhancing price discovery. Further, because Office and 
Clearing Participants rarely if ever require a second OTP, the proposed 
removal of the reduced ($250) fee would have little to no impact on 
them. Additionally, the proposed fee changes is [sic] reasonable 
because it is similar to trading permit fees charged by another options 
exchange to similarly situated market participants.\9\
---------------------------------------------------------------------------

    \9\ See supra n. 5 [sic].
---------------------------------------------------------------------------

    The Exchange also believes that the proposed modification in the 
Access

[[Page 45591]]

Fees is reasonable, equitable, and not unfairly discriminatory as the 
Access Fee is charged to all registered personnel that operate on the 
Floor but do not execute transactions. The proposed fee is equitable 
and not discriminatory as it applies equally to all similarly situated 
individuals. Additionally, the proposed fee is reasonable because it is 
similar to fees charged by another options exchange to similarly 
situated floor personnel.\10\
---------------------------------------------------------------------------

    \10\ See supra n. 7 [sic].
---------------------------------------------------------------------------

    For these reasons, the Exchange believes that the proposal is 
consistent with the Act.

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

    In accordance with Section 6(b)(8) of the Act,\11\ the Exchange 
does not believe that the proposed rule change will impose any burden 
on competition that is not necessary or appropriate in furtherance of 
the purposes of the Act. Instead, the Exchange believes that the 
proposed changes would encourage competition, including by reducing the 
overhead costs for Floor Brokers so that they may conduct a more 
competitive business attracting manual orders to the Exchange, which 
would make the Exchange a more competitive venue for, among other 
things, order execution and price discovery.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Exchange notes that it operates in a highly competitive market 
in which market participants can readily favor competing venues. In 
such an environment, the Exchange must continually review, and consider 
adjusting, its fees and credits to remain competitive with other 
exchanges. For the reasons described above, the Exchange believes that 
the proposed rule change reflects this competitive environment.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \12\ of the Act and subparagraph (f)(2) of Rule 
19b-4 \13\ thereunder, because it establishes a due, fee, or other 
charge imposed by the Exchange.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(3)(A).
    \13\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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) \14\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposal 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 No. SR-NYSEArca-2016-95 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 No. SR-NYSEArca-2016-95. 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 No. SR-NYSEArca-2016-95, and should be 
submitted on or before August 4, 2016.
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2016-16602 Filed 7-13-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                    45590                             Federal Register / Vol. 81, No. 135 / Thursday, July 14, 2016 / Notices

                                                    SECURITIES AND EXCHANGE                                     floor personnel who are not subject to                improved remote access, Floor Brokers
                                                    COMMISSION                                                  an OTP Fee. The Exchange proposes to                  no longer require additional OTPs to
                                                                                                                implement the changes effective July 1,               conduct business on the Floor.
                                                    [Release No. 34–78260; File No. SR–
                                                    NYSEArca–2016–95]
                                                                                                                2016.                                                 Therefore, the Exchange proposes to
                                                                                                                   Currently, the Exchange charges Floor              eliminate the provision and the
                                                    Self-Regulatory Organizations; NYSE                         Brokers, Office, and Clearing                         associated reduced Fee.
                                                    Arca, Inc.; Notice of Filing and                            participants a monthly fee of $1,000 for                 The Exchange also proposes to reduce
                                                    Immediate Effectiveness of Proposed                         the first OTP and $250 per month for                  the Options Floor Access Fee (‘‘Access
                                                    Rule Change To Amend the NYSE Arca                          each additional OTP.3 The Exchange                    Fee’’) that is currently charged to
                                                    Options Fee Schedule                                        proposes to reduce the monthly OTP fee                registered personnel who work on the
                                                                                                                charged to Floor Brokers to $500, which               Floor, but do not require an OTP as they
                                                    July 8, 2016.                                               is consistent with trading permit fees                do not execute trades. The Exchange
                                                       Pursuant to Section 19(b)(1) of the                      charged to similarly situated market                  proposes to reduce the monthly Access
                                                    Securities Exchange Act of 1934 (the                        participants on other options markets.4               Fee from $130 to $125, which is
                                                    ‘‘Act’’),1 and Rule 19b–4 thereunder,2                      The Exchange would continue to charge                 consistent with fees charged by other
                                                    notice is hereby given that on July 1,                      Office and Clearing participants a                    options exchanges for similarly situated
                                                    2016, NYSE Arca, Inc. (the ‘‘Exchange’’                     monthly OTP Fee of $1,000.                            floor personnel.6
                                                    or ‘‘NYSE Arca’’) filed with the                               In addition, the Exchange proposes to
                                                    Securities and Exchange Commission                          eliminate the reduced ($250) monthly                  2. Statutory Basis
                                                    (‘‘Commission’’) the proposed rule                          for any of these participants and to                     The Exchange believes that the
                                                    change as described in Items I, II and III                  delete the language stating that                      proposed rule change is consistent with
                                                    below, which Items have been prepared                       additional OTPs utilized by a Floor                   Section 6(b) of the Act,7 in general, and
                                                    by the Exchange. The Commission is                          Broker would not enable a second Floor                furthers the objectives of Sections
                                                    publishing this notice to solicit                           Broker to operate on the Floor. As an                 6(b)(4) and (5) of the Act,8 in particular,
                                                    comments on the proposed rule change                        initial matter, Office and Clearing                   because it provides for the equitable
                                                    from interested persons.                                    participants would rarely, if ever,                   allocation of reasonable dues, fees, and
                                                                                                                require a second OTP, so eliminated the               other charges among its members,
                                                    I. Self-Regulatory Organization’s                                                                                 issuers and other persons using its
                                                                                                                reduced $250 would have little to no
                                                    Statement of the Terms of Substance of                                                                            facilities and does not unfairly
                                                                                                                practical impact on these participants.
                                                    the Proposed Rule Change                                                                                          discriminate between customers,
                                                                                                                Regarding Floor Brokers, historically
                                                       The Exchange proposes to amend the                       each Floor Broker could only log in to                issuers, brokers or dealers.
                                                    NYSE Arca Options Fee Schedule (‘‘Fee                       a single Floor Broker Order Capture                      The Exchange believes that modifying
                                                    Schedule’’). The Exchange proposes to                       Device (‘‘FBOCD’’), which provided                    the OTP Fee for Floor Brokers is
                                                    implement the fee change effective July                     access to the Exchange-sponsored Floor                reasonable, equitable, and not unfairly
                                                    1, 2016. The proposed rule change is                        Broker Order Capture System.5 This                    discriminatory because the reduced fee
                                                    available on the Exchange’s Web site at                     limitation was required because the                   would apply to all Floor Brokers who,
                                                    www.nyse.com, at the principal office of                    Floor Broker’s log-in was used to                     unlike other market participants (i.e.,
                                                    the Exchange, and at the Commission’s                       populate ‘‘Executing Broker’’ fields                  Office and Clearing Participants), are
                                                    Public Reference Room.                                      within the FBOCD system. Thus, in                     restricted to conduct business only on a
                                                                                                                order to conduct business at various                  manual basis on the Trading Floor. The
                                                    II. Self-Regulatory Organization’s
                                                                                                                locations on the Floor, Floor Brokers                 Exchange believes that the proposed
                                                    Statement of the Purpose of, and
                                                                                                                needed to be able to log in to multiple               changes would encourage competition,
                                                    Statutory Basis for, the Proposed Rule
                                                                                                                FBOCD and therefore would request                     including by reducing the overhead
                                                    Change
                                                                                                                additional OTPs. However, these                       costs for Floor Brokers so that they may
                                                       In its filing with the Commission, the                   additional OTPs were assigned to the                  conduct a more competitive business
                                                    self-regulatory organization included                       same individual Floor Broker and were                 attracting manual orders to the
                                                    statements concerning the purpose of,                       not used to provide for a second Floor                Exchange, which additional volume and
                                                    and basis for, the proposed rule change                     Broker to operate on the Floor. In recent             liquidity would benefit all Exchange
                                                    and discussed any comments it received                      years, however, the Exchange has                      participants through increased
                                                    on the proposed rule change. The text                       upgraded and modified its System such                 opportunities to trade as well as
                                                    of those statements may be examined at                      that each log-in permits Floor Brokers                enhancing price discovery. Further,
                                                    the places specified in Item IV below.                      access to the System from any FBOCD,                  because Office and Clearing Participants
                                                    The Exchange has prepared summaries,                        whether located in a Floor Broker’s                   rarely if ever require a second OTP, the
                                                    set forth in sections A, B, and C below,                    booth or a general access device located              proposed removal of the reduced ($250)
                                                    of the most significant parts of such                       on the Trading Floor. As a result of this             fee would have little to no impact on
                                                    statements.                                                                                                       them. Additionally, the proposed fee
                                                    A. Self-Regulatory Organization’s
                                                                                                                   3 See Fee Schedule, available here, https://       changes is [sic] reasonable because it is
                                                                                                                www.nyse.com/publicdocs/nyse/markets/arca-            similar to trading permit fees charged by
                                                    Statement of the Purpose of, and the                        options/NYSE_Arca_Options_Fee_Schedule.pdf.
                                                    Statutory Basis for, the Proposed Rule                         4 See NYSE Amex Options Fee Schedule, Section
                                                                                                                                                                      another options exchange to similarly
                                                    Change                                                      III.A. (Monthly ATP Fees), available here, https://   situated market participants.9
                                                                                                                                                                         The Exchange also believes that the
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                                                                                www.nyse.com/publicdocs/nyse/markets/amex-
                                                    1. Purpose                                                  options/NYSE_Amex_Options_Fee_Schedule.pdf            proposed modification in the Access
                                                                                                                (charging Floor Brokers monthly fee of $500 per
                                                       The purpose of this filing is to modify                  ATP).                                                   6 See supra n. 5 [sic], NYSE Amex Options Fee
                                                    certain fees charged for Options Trading                       5 The FBOCD is used by Floor Brokerage
                                                                                                                                                                      Schedule, Section III.A. (Floor Access Fee)
                                                    Permits (each an ‘‘OTP’’) and to                            operations to comply with the requirements of Rule
                                                                                                                                                                      (charging $125 per month for all registered Floor
                                                    decrease the fee charged to registered                      6.67, Order Format and System Entry Requirements,
                                                                                                                namely, the systemization of order details and        personnel that do not pay Monthly ATP Fees).
                                                                                                                                                                        7 15 U.S.C. 78f(b).
                                                                                                                electronic tracking of all events in the life of an
                                                      1 15   U.S.C. 78s(b)(1).                                                                                          8 15 U.S.C. 78f(b)(4) and (5).
                                                                                                                order, up to and including cancellation or
                                                      2 17   CFR 240.19b–4.                                     execution.                                              9 See supra n. 5 [sic].




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                                                                                   Federal Register / Vol. 81, No. 135 / Thursday, July 14, 2016 / Notices                                                         45591

                                                    Fees is reasonable, equitable, and not                   fee, or other charge imposed by the                           filing also will be available for
                                                    unfairly discriminatory as the Access                    Exchange.                                                     inspection and copying at the principal
                                                    Fee is charged to all registered                            At any time within 60 days of the                          office of the Exchange. All comments
                                                    personnel that operate on the Floor but                  filing of such proposed rule change, the                      received will be posted without change;
                                                    do not execute transactions. The                         Commission summarily may                                      the Commission does not edit personal
                                                    proposed fee is equitable and not                        temporarily suspend such rule change if                       identifying information from
                                                    discriminatory as it applies equally to                  it appears to the Commission that such                        submissions. You should submit only
                                                    all similarly situated individuals.                      action is necessary or appropriate in the                     information that you wish to make
                                                    Additionally, the proposed fee is                        public interest, for the protection of                        available publicly. All submissions
                                                    reasonable because it is similar to fees                 investors, or otherwise in furtherance of                     should refer to File No. SR–NYSEArca–
                                                    charged by another options exchange to                   the purposes of the Act. If the                               2016–95, and should be submitted on or
                                                    similarly situated floor personnel.10                    Commission takes such action, the                             before August 4, 2016.
                                                       For these reasons, the Exchange                       Commission shall institute proceedings
                                                                                                                                                                              For the Commission, by the Division of
                                                    believes that the proposal is consistent                 under Section 19(b)(2)(B) 14 of the Act to                    Trading and Markets, pursuant to delegated
                                                    with the Act.                                            determine whether the proposed rule                           authority.15
                                                                                                             change should be approved or                                  Jill M. Peterson,
                                                    B. Self-Regulatory Organization’s                        disapproved.
                                                    Statement on Burden on Competition                                                                                     Assistant Secretary.
                                                                                                             IV. Solicitation of Comments                                  [FR Doc. 2016–16602 Filed 7–13–16; 8:45 am]
                                                       In accordance with Section 6(b)(8) of                   Interested persons are invited to                           BILLING CODE 8011–01–P
                                                    the Act,11 the Exchange does not believe                 submit written data, views, and
                                                    that the proposed rule change will                       arguments concerning the foregoing,
                                                    impose any burden on competition that                    including whether the proposal is
                                                    is not necessary or appropriate in                                                                                     SMALL BUSINESS ADMINISTRATION
                                                                                                             consistent with the Act. Comments may
                                                    furtherance of the purposes of the Act.                  be submitted by any of the following
                                                    Instead, the Exchange believes that the                                                                                Boathouse Capital II, LP, License No.
                                                                                                             methods:                                                      03/03–0264; Notice Seeking Exemption
                                                    proposed changes would encourage
                                                    competition, including by reducing the                   Electronic Comments                                           Under Section 312 of the Small
                                                                                                                                                                           Business Investment Act, Conflicts of
                                                    overhead costs for Floor Brokers so that                   • Use the Commission’s Internet                             Interest
                                                    they may conduct a more competitive                      comment form (http://www.sec.gov/
                                                    business attracting manual orders to the                 rules/sro.shtml); or                                             Notice is hereby given that Boathouse
                                                    Exchange, which would make the                             • Send an email to rule-comments@                           Capital II, L.P., 353 West Lancaster
                                                    Exchange a more competitive venue for,                   sec.gov. Please include File No. SR–                          Avenue, Suite 200, Wayne, PA 19087, a
                                                    among other things, order execution and                  NYSEArca–2016–95 on the subject line.                         Federal Licensee under the Small
                                                    price discovery.                                                                                                       Business Investment Act of 1958, as
                                                                                                             Paper Comments
                                                       The Exchange notes that it operates in                                                                              amended (‘‘the Act’’), in connection
                                                    a highly competitive market in which                       • Send paper comments in triplicate                         with the financing of CalNet Technology
                                                    market participants can readily favor                    to Secretary, Securities and Exchange                         Group, Inc., 420 3rd Ave NW., Hickory,
                                                    competing venues. In such an                             Commission, 100 F Street NE.,                                 NC 28601, has sought an exemption
                                                    environment, the Exchange must                           Washington, DC 20549–1090.                                    under Section 312 of the Act and 13
                                                    continually review, and consider                         All submissions should refer to File No.                      CFR 107.730 financings which
                                                    adjusting, its fees and credits to remain                SR–NYSEArca–2016–95. This file                                constitute conflicts of interest of the
                                                    competitive with other exchanges. For                    number should be included on the                              Small Business Administration (‘‘SBA’’)
                                                    the reasons described above, the                         subject line if email is used. To help the                    Rules and Regulations. Boathouse
                                                    Exchange believes that the proposed                      Commission process and review your                            Capital II, LP proposes to provide debt
                                                    rule change reflects this competitive                    comments more efficiently, please use                         financing to CalNet Technology Group,
                                                    environment.                                             only one method. The Commission will                          Inc., owned by Boathouse Capital, LP,
                                                                                                             post all comments on the Commission’s                         an associate as defined in Sec. 105.50 of
                                                    C. Self-Regulatory Organization’s                        Internet Web site (http://www.sec.gov/
                                                    Statement on Comments on the                                                                                           the regulations. Therefore this
                                                                                                             rules/sro.shtml). Copies of the                               transaction is considered a conflict of
                                                    Proposed Rule Change Received From                       submission, all subsequent
                                                    Members, Participants, or Others                                                                                       interest requiring SBA’s prior written
                                                                                                             amendments, all written statements                            exemption.
                                                      No written comments were solicited                     with respect to the proposed rule                                Notice is hereby given that any
                                                    or received with respect to the proposed                 change that are filed with the                                interested person may submit written
                                                    rule change.                                             Commission, and all written                                   comments on the transaction, within
                                                                                                             communications relating to the                                fifteen days of the date of this
                                                    III. Date of Effectiveness of the                        proposed rule change between the                              publication, to the Associate
                                                    Proposed Rule Change and Timing for                      Commission and any person, other than                         Administrator for Investment, U.S.
                                                    Commission Action                                        those that may be withheld from the                           Small Business Administration, 409
                                                      The foregoing rule change is effective                 public in accordance with the                                 Third Street SW., Washington, DC
                                                                                                             provisions of 5 U.S.C. 552, will be
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    upon filing pursuant to Section                                                                                        20416.
                                                    19(b)(3)(A) 12 of the Act and                            available for Web site viewing and
                                                                                                             printing in the Commission’s Public                           Mark Walsh,
                                                    subparagraph (f)(2) of Rule 19b–4 13
                                                    thereunder, because it establishes a due,                Reference Room, 100 F Street NE.,                             Associate Administrator for Office of
                                                                                                             Washington, DC 20549, on official                             Investment and Innovation.
                                                      10 See                                                 business days between the hours of                            [FR Doc. 2016–16701 Filed 7–13–16; 8:45 am]
                                                             supra n. 7 [sic].
                                                      11 15 U.S.C. 78f(b)(8).                                10:00 a.m. and 3:00 p.m. Copies of the                        BILLING CODE 8025–01–P
                                                      12 15 U.S.C. 78s(b)(3)(A).
                                                      13 17 CFR 240.19b–4(f)(2).                                  14 15   U.S.C. 78s(b)(2)(B).                               15 17   CFR 200.30–3(a)(12).



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Document Created: 2016-07-14 01:55:20
Document Modified: 2016-07-14 01:55:20
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 45590 

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