81 FR 4689 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Establishing the NYSE Arca Order Imbalances Proprietary Market Data Product
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 17 (January 27, 2016)
Federal Register Volume 81, Issue 17 (January 27, 2016)
| Page Range | 4689-4691 | |
| FR Document | 2016-01667 |
[Federal Register Volume 81, Number 17 (Wednesday, January 27, 2016)] [Notices] [Pages 4689-4691] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-01667] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-76968; File No. SR-NYSEArca-2016-10] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Establishing the NYSE Arca Order Imbalances Proprietary Market Data Product January 22, 2016. Pursuant to section 19(b)(1)\1\ of the Securities Exchange Act of 1934 (the ``Act''),\2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on January 13, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``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 change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to establish the NYSE Arca Order Imbalances proprietary market data product. 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to establish the NYSE Arca Order Imbalances datafeed as a separate, stand-alone market data product. The NYSE Arca Order Imbalances product would be a real-time datafeed of the information that the Exchange provides in advance of an auction. The Exchange is establishing the NYSE Arca Order Imbalances product in connection with the implementation of Pillar, the Exchange's proposed new technology trading platform.\4\ Pillar is the integrated trading technology platform designed to use a single specification for connecting to the equities and options markets operated by NYSE Arca and its affiliates, New York Stock Exchange LLC (``NYSE'') and NYSE MKT LLC (``NYSE MKT''). NYSE Arca Equities would be the first trading [[Page 4690]] system to migrate to Pillar. Rule 7.35P(a)(4)(C) provides that the Exchange will disseminate Auction Imbalance Information via a proprietary data feed during the times specified in the rule, and through this filing, the Exchange proposes to establish the NYSE Arca Order Imbalances feed as the proprietary data feed to which Rule 7.35P(a)(4)(C) refers. --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release Nos. 74951 (May 13, 2015), 80 FR 28721 (May 19, 2015) (Notice) and 75494 (July 20, 2015), 80 FR 44170 (July 24, 2015) (Order) (SR-NYSEArca-2015-38) (``Pillar I Filing''); 75497 (July 21, 2015), 80 FR 45022 (July 28, 2015) (Notice) and 76267 (Oct. 26, 2015), 80 FR 66951 (Oct. 30, 2015) (Order) (SR-NYSEArca-2015-56)(``Pillar II Filing''); 75467 (July 16, 2015), 80 FR 43515 (July 22, 2015) (Notice) and 76198 (Oct. 20, 2015), 80 FR 65274 (Oct. 26, 2015) (Order) (SR-NYSEArca- 2015-58) (``Pillar III Filing''); and 76085 (Oct. 6, 2015), 80 FR 61513 (Oct. 13, 2015) (Notice) and 76869 (Jan. 11, 2016) (Order) (SR-NYSEArca-2015-86) (``Pillar Auction Filing''). --------------------------------------------------------------------------- Rule 7.35P(a)(4) defines Auction Imbalance Information as the information disseminated by the Exchange for an auction. As set forth in Rule 7.35P, Auction Imbalance information includes, if applicable, the Total Imbalance, Market Imbalance, Indicative Match Price and Matched Volume, each as defined in Rule 7.35P(a). The Auction Imbalance Information would be disseminated on a time frame specified in Rule 7.35P. The NYSE Arca Order Imbalances market data product would provide Auction Imbalance Information with respect to symbols migrated to the Pillar platform. NYSE Arca order imbalance information, as defined in Rule 7.35, is currently available through the NYSE ArcaBook and NYSE Arca Integrated proprietary market data products and would continue to be disseminated on these data feeds when symbols migrate to Pillar.\5\ When a symbol migrates to Pillar, the NYSE Arca order imbalance information available through NYSE ArcaBook and NYSE Arca Integrated proprietary market data products would be based on Rule 7.35P. --------------------------------------------------------------------------- \5\ See Pillar Auction Filing Notice, footnotes 22 and 23. See also Securities Exchange Act Release Nos. 59039 (Dec. 2, 2008), 73 FR 74770 (Dec. 9, 2008) (NYSE ArcaBook); and 65669 (Nov. 2, 2011), 76 FR 69311 (Nov. 8, 2011) (NYSE Arca Integrated Data Feed). --------------------------------------------------------------------------- The Exchange proposes to offer the NYSE Arca Order Imbalances product through networks in the Exchange's Mahwah, New Jersey data center that are available to users of the Exchange's co-location services. The Exchange also would offer the NYSE Arca Order Imbalances product through the Exchange's Secure Financial Transaction Infrastructure (SFTI) network, through which all other users and member organizations access the Exchange's trading and execution systems and other proprietary market data products. The Exchange will file a separate rule filing to establish the fees for the NYSE Arca Order Imbalances product. As noted above, the Exchange is establishing the NYSE Arca Order Imbalances product in conjunction with the implementation of Pillar, the Exchange's proposed new technology trading platform,\6\ and the Exchange will announce the date that the product will be available through an NYSE Market Data Notice. --------------------------------------------------------------------------- \6\ See note 4, supra. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) \7\ of the Act, in general, and furthers the objectives of section 6(b)(5) \8\ of the Act, 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, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest, and it is not designed to permit unfair discrimination among customers, brokers, or dealers. This proposal is in keeping with those principles in that it promotes increased transparency through the dissemination of the NYSE Arca Order Imbalances market data product to those interested in receiving it. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange also believes this proposal is consistent with section 6(b)(5) of the Act because it protects investors and the public interest and promotes just and equitable principles of trade by providing investors with new options for receiving market data as requested by market data vendors and purchasers. The proposed rule change would benefit investors by facilitating their prompt access to the real-time information contained in the NYSE Arca Order Imbalances market data product. In adopting Regulation NMS, the Commission granted self-regulatory organizations (``SROs'') and broker dealers increased authority and flexibility to offer new and unique market data to consumers of such data. It was believed that this authority would expand the amount of data available to users and consumers of such data and also spur innovation and competition for the provision of market data. The Exchange believes that the NYSE Arca Order Imbalances market data product is precisely the sort of market data product that the Commission envisioned when it adopted Regulation NMS. The Commission concluded that Regulation NMS would itself further the Act's goals of facilitating efficiency and competition: Efficiency is promoted when broker-dealers who do not need the data beyond the prices, sizes, market center identifications of the NBBO and consolidated last sale information are not required to receive (and pay for) such data. The Commission also believes that efficiency is promoted when broker-dealers may choose to receive (and pay for) additional market data based on their own internal analysis of the need for such data.\9\ --------------------------------------------------------------------------- \9\ See Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005) (``Regulation NMS Adopting Release''). --------------------------------------------------------------------------- The Exchange further notes that the existence of alternatives to the Exchange's product, including order imbalances products offered by the Exchange's affiliates, NYSE and NYSE MKT,\10\ and by the Nasdaq Stock Market (``NASDAQ''),\11\ as well as real-time consolidated data, free delayed consolidated data, and proprietary data from other sources, ensures that the Exchange is not unreasonably discriminatory because vendors and subscribers can elect these alternatives as their individual business cases warrant. This proposed new data feed provides investors with new options for receiving market data, which was a primary goal of the market data amendments adopted by Regulation NMS.\12\ --------------------------------------------------------------------------- \10\ See Securities Act Release Nos. 59543 (March 9, 2009), 74 FR 11159 (March 16, 2009) (SR-NYSE-2008-132) (NYSE Order Imbalances) and 59743 (April 9, 2009), 74 FR 17699 (April 16, 2009) (SR- NYSEAmex-2009-11)(NYSE Amex Order Imbalances, n/k/a NYSE MKT Order Imbalances). \11\ See Nasdaq TotalView-ITCH, http://www.nasdaqtrader.com/Trader.aspx?id=Totalview2 (last visited November 25, 2015)(displays the full order book depth for Nasdaq market participants and also disseminates the Net Order Imbalance Indicator (NOII) for the Nasdaq Opening and Closing Crosses and Nasdaq IPO/Halt Cross). \12\ See Regulation NMS Adopting Release, supra, at 37503. --------------------------------------------------------------------------- The NYSE Arca Order Imbalances market data product will help to protect a free and open market by providing additional data to the marketplace and by giving investors greater choices. In addition, the proposal would not permit unfair discrimination because the product will be available to all of the Exchange's customers and broker-dealers through both SFTI and the Liquidity Center Network. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with section 6(b)(8) of the Act,\13\ 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. Because other exchanges already offer similar products, the Exchange's proposed NYSE Arca Order Imbalances market data product will enhance [[Page 4691]] competition. The NYSE Arca Order Imbalances product will foster competition by providing an alternative to similar products offered by other exchanges, including order imbalances products offered by the Exchange's affiliates, NYSE and NYSE MKT,\14\ and by NASDAQ.\15\ This proposed new data feed provides investors with new options for receiving market data, which was a primary goal of the market data amendments adopted by Regulation NMS.\16\ --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b)(8). \14\ See note 10, supra. \15\ See note 11, supra. \16\ See Regulation NMS Adopting Release, supra, at 37503. --------------------------------------------------------------------------- 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 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 for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to section 19(b)(3)(A) of the Act \17\ and Rule 19b-4(f)(6) thereunder.\18\ --------------------------------------------------------------------------- \17\ 15 U.S.C. 78s(b)(3)(A). \18\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b- 4(f)(6)(iii), the Exchange provided the Commission with written notice of its 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. --------------------------------------------------------------------------- A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the Act \19\ normally does not become operative for 30 days after the date of its filing. However, Rule 19b-4(f)(6)(iii) \20\ permits the Commission to 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 Exchange stated that it anticipates migrating symbols to Pillar beginning February 1, 2016, and that waiver of the operative delay would permit market data that would be available in existing products for symbols that have migrated to Pillar to also be available in a stand-alone product, which would offer an alternative to currently available proprietary data products. The Commission believes the waiver of the operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the operative delay and designates the proposal operative upon filing.\21\ --------------------------------------------------------------------------- \19\ 17 CFR 240.19b-4(f)(6). \20\ 17 CFR 240.19b-4(f)(6)(iii). \21\ For purposes only of waiving the 30-day operative delay, the Commission has also 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 the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings 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 CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NYSEArca-2016-10 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-NYSEArca-2016-10. 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 such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEArca-2016-10, and should be submitted on or before February 17, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\22\ --------------------------------------------------------------------------- \22\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-01667 Filed 1-26-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 17 / Wednesday, January 27, 2016 / Notices 4689
C. Self-Regulatory Organization’s those that may be withheld from the I. Self-Regulatory Organization’s
Statement on Comments on the public in accordance with the Statement of the Terms of Substance of
Proposed Rule Change Received From provisions of 5 U.S.C. 552, will be the Proposed Rule Change
Members, Participants, or Others available for Web site viewing and The Exchange proposes to establish
No written comments were either printing in the Commission’s Public the NYSE Arca Order Imbalances
solicited or received. Reference Room, 100 F Street NE., proprietary market data product. The
Washington, DC 20549, on official proposed rule change is available on the
III. Date of Effectiveness of the
business days between the hours of Exchange’s Web site at www.nyse.com,
Proposed Rule Change and Timing for
10:00 a.m. and 3:00 p.m. Copies of the at the principal office of the Exchange,
Commission Action
filing also will be available for and at the Commission’s Public
The foregoing rule change has become inspection and copying at the principal Reference Room.
effective pursuant to Section office of the Exchange. All comments
19(b)(3)(A)(ii) of the Act.10 II. Self-Regulatory Organization’s
received will be posted without change; Statement of the Purpose of, and
At any time within 60 days of the
filing of the proposed rule change, the the Commission does not edit personal Statutory Basis for, the Proposed Rule
Commission summarily may identifying information from Change
temporarily suspend such rule change if submissions. You should submit only In its filing with the Commission, the
it appears to the Commission that such information that you wish to make self-regulatory organization included
action is: (i) Necessary or appropriate in available publicly. All submissions statements concerning the purpose of,
the public interest; (ii) for the protection should refer to File Number SR– and basis for, the proposed rule change
of investors; or (iii) otherwise in NASDAQ–2016–003 and should be and discussed any comments it received
furtherance of the purposes of the Act. submitted on or before February 17, on the proposed rule change. The text
If the Commission takes such action, the 2016. of those statements may be examined at
Commission shall institute proceedings For the Commission, by the Division of the places specified in Item IV below.
to determine whether the proposed rule Trading and Markets, pursuant to delegated The Exchange has prepared summaries,
should be approved or disapproved. authority.11 set forth in sections A, B, and C below,
IV. Solicitation of Comments of the most significant parts of such
Brent J. Fields,
statements.
Interested persons are invited to Secretary.
submit written data, views and [FR Doc. 2016–01532 Filed 1–26–16; 8:45 am] A. Self-Regulatory Organization’s
arguments concerning the foregoing, Statement of the Purpose of, and
BILLING CODE 8011–01–P
including whether the proposed rule Statutory Basis for, the Proposed Rule
change is consistent with the Act. Change
Comments may be submitted by any of SECURITIES AND EXCHANGE 1. Purpose
the following methods: COMMISSION The Exchange proposes to establish
Electronic Comments the NYSE Arca Order Imbalances
• Use the Commission’s Internet [Release No. 34–76968; File No. SR– datafeed as a separate, stand-alone
NYSEArca–2016–10] market data product. The NYSE Arca
comment form (http://www.sec.gov/
rules/sro.shtml); or Order Imbalances product would be a
Self-Regulatory Organizations; NYSE
• Send an email to rule-comments@ real-time datafeed of the information
sec.gov. Please include File Number SR– Arca, Inc.; Notice of Filing and that the Exchange provides in advance
NASDAQ–2016–003 on the subject line. Immediate Effectiveness of Proposed of an auction.
Rule Change Establishing the NYSE The Exchange is establishing the
Paper Comments Arca Order Imbalances Proprietary NYSE Arca Order Imbalances product in
• Send paper comments in triplicate Market Data Product connection with the implementation of
to Secretary, Securities and Exchange Pillar, the Exchange’s proposed new
Commission, 100 F Street NE., January 22, 2016. technology trading platform.4 Pillar is
Washington, DC 20549–1090. Pursuant to section 19(b)(1)1 of the the integrated trading technology
All submissions should refer to File Securities Exchange Act of 1934 (the platform designed to use a single
Number SR–NASDAQ–2016–003. This ‘‘Act’’),2 and Rule 19b-4 thereunder,3 specification for connecting to the
file number should be included on the notice is hereby given that on January equities and options markets operated
subject line if email is used. To help the 13, 2016, NYSE Arca, Inc. (the by NYSE Arca and its affiliates, New
Commission process and review your ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with York Stock Exchange LLC (‘‘NYSE’’) and
comments more efficiently, please use the Securities and Exchange NYSE MKT LLC (‘‘NYSE MKT’’). NYSE
only one method. The Commission will Commission (the ‘‘Commission’’) the Arca Equities would be the first trading
post all comments on the Commission’s proposed rule change as described in 4 See Securities Exchange Act Release Nos. 74951
Internet Web site (http://www.sec.gov/ Items I and II below, which Items have (May 13, 2015), 80 FR 28721 (May 19, 2015)
rules/sro.shtml). Copies of the been prepared by the self-regulatory (Notice) and 75494 (July 20, 2015), 80 FR 44170
submission, all subsequent organization. The Commission is (July 24, 2015) (Order) (SR–NYSEArca-2015–38)
amendments, all written statements
asabaliauskas on DSK5VPTVN1PROD with NOTICES
(‘‘Pillar I Filing’’); 75497 (July 21, 2015), 80 FR
publishing this notice to solicit 45022 (July 28, 2015) (Notice) and 76267 (Oct. 26,
with respect to the proposed rule comments on the proposed rule change 2015), 80 FR 66951 (Oct. 30, 2015) (Order) (SR–
change that are filed with the
from interested persons. NYSEArca-2015–56)(‘‘Pillar II Filing’’); 75467 (July
Commission, and all written 16, 2015), 80 FR 43515 (July 22, 2015) (Notice) and
communications relating to the 76198 (Oct. 20, 2015), 80 FR 65274 (Oct. 26, 2015)
proposed rule change between the 11 17 CFR 200.30–3(a)(12). (Order) (SR–NYSEArca-2015–58) (‘‘Pillar III
Filing’’); and 76085 (Oct. 6, 2015), 80 FR 61513
Commission and any person, other than 1 15 U.S.C. 78s(b)(1).
(Oct. 13, 2015) (Notice) and 76869 (Jan. 11, 2016)
2 15 U.S.C. 78a.
(Order) (SR–NYSEArca-2015–86) (‘‘Pillar Auction
10 15 U.S.C. 78s(b)(3)(A)(ii). 3 17 CFR 240.19b-4. Filing’’).
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![Federal Register / Vol. 81, No. 17 / Wednesday, January 27, 2016 / Notices 4691
competition. The NYSE Arca Order also be available in a stand-alone proposed rule change between the
Imbalances product will foster product, which would offer an Commission and any person, other than
competition by providing an alternative alternative to currently available those that may be withheld from the
to similar products offered by other proprietary data products. The public in accordance with the
exchanges, including order imbalances Commission believes the waiver of the provisions of 5 U.S.C. 552, will be
products offered by the Exchange’s operative delay is consistent with the available for Web site viewing and
affiliates, NYSE and NYSE MKT,14 and protection of investors and the public printing in the Commission’s Public
by NASDAQ.15 This proposed new data interest. Therefore, the Commission Reference Room, 100 F Street NE.,
feed provides investors with new hereby waives the operative delay and Washington, DC 20549 on official
options for receiving market data, which designates the proposal operative upon business days between the hours of
was a primary goal of the market data filing.21 10:00 a.m. and 3:00 p.m. Copies of such
amendments adopted by Regulation At any time within 60 days of the
filing also will be available for
NMS.16 filing of the proposed rule change, the
Commission summarily may inspection and copying at the principal
C. Self-Regulatory Organization’s temporarily suspend such rule change if office of the Exchange. All comments
Statement on Comments on the it appears to the Commission that such received will be posted without change;
Proposed Rule Change Received from action is necessary or appropriate in the the Commission does not edit personal
Members, Participants, or Others public interest, for the protection of identifying information from
No written comments were solicited investors, or otherwise in furtherance of submissions. You should submit only
or received with respect to the proposed the purposes of the Act. If the information that you wish to make
rule change. Commission takes such action, the available publicly. All submissions
Commission shall institute proceedings should refer to File Number SR–
III. Date of Effectiveness of the NYSEArca–2016–10, and should be
to determine whether the proposed rule
Proposed Rule Change and Timing for submitted on or before February 17,
change should be approved or
Commission Action
disapproved. 2016.
Because the proposed rule change
IV. Solicitation of Comments For the Commission, by the Division of
does not (i) significantly affect the
Trading and Markets, pursuant to delegated
protection of investors or the public Interested persons are invited to
authority.22
interest; (ii) impose any significant submit written data, views, and
burden on competition; and (iii) become arguments concerning the foregoing, Brent J. Fields,
operative for 30 days from the date on including whether the proposed rule Secretary.
which it was filed, or such shorter time change is consistent with the Act. [FR Doc. 2016–01667 Filed 1–26–16; 8:45 am]
as the Commission may designate, it has Comments may be submitted by any of BILLING CODE 8011–01–P
become effective pursuant to section the following methods:
19(b)(3)(A) of the Act 17 and Rule 19b- Electronic Comments
4(f)(6) thereunder.18 SECURITIES AND EXCHANGE
A proposed rule change filed • Use the Commission’s Internet COMMISSION
pursuant to Rule 19b-4(f)(6) under the comment form (http://www.sec.gov/
Act 19 normally does not become rules/sro.shtml); or
operative for 30 days after the date of its • Send an email to rule-comments@ [Release No. 34–76946; File No. SR–
sec.gov. Please include File Number SR– NASDAQ–2016–006]
filing. However, Rule 19b-4(f)(6)(iii) 20
permits the Commission to designate a NYSEArca–2016–10 on the subject line.
Self-Regulatory Organizations; The
shorter time if such action is consistent Paper Comments NASDAQ Stock Market LLC; Notice of
with the protection of investors and the
• Send paper comments in triplicate Filing and Immediate Effectiveness of
public interest. The Exchange has asked Proposed Rule Change To Amend
to Brent J. Fields, Secretary, Securities
the Commission to waive the 30-day Subsection (a)(7) of Rule 7003,
and Exchange Commission, 100 F Street
operative delay so that the proposal may Registration and Processing Fees
NE., Washington, DC 20549–1090.
become operative immediately upon
filing. The Exchange stated that it All submissions should refer to File
January 21, 2016.
anticipates migrating symbols to Pillar Number SR–NYSEArca–2016–10. This
file number should be included on the Pursuant to Section 19(b)(1) of the
beginning February 1, 2016, and that
subject line if email is used. To help the Securities Exchange Act of 1934
waiver of the operative delay would
permit market data that would be Commission process and review your (‘‘Act’’),1 and Rule 19b–4 2 thereunder,
available in existing products for comments more efficiently, please use notice is hereby given that, on January
symbols that have migrated to Pillar to only one method. The Commission will 13, 2016, The NASDAQ Stock Market
post all comments on the Commission’s LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed
14 See note 10, supra. Internet Web site (http://www.sec.gov/ with the Securities and Exchange
15 See note 11, supra. rules/sro.shtml). Copies of the Commission (‘‘SEC’’ or ‘‘Commission’’)
16 See Regulation NMS Adopting Release, supra, submission, all subsequent the proposed rule change as described
at 37503. amendments, all written statements in Items I, II, and III below, which Items
17 15 U.S.C. 78s(b)(3)(A).
with respect to the proposed rule have been prepared by the Exchange.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
18 17 CFR 240.19b–4(f)(6). As required under Rule
change that are filed with the The Commission is publishing this
19b-4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file Commission, and all written notice to solicit comments on the
the proposed rule change, along with a brief communications relating to the proposed rule change from interested
description and the text of the proposed rule persons.
change, at least five business days prior to the date 21 For purposes only of waiving the 30-day
of filing of the proposed rule change, or such operative delay, the Commission has also
shorter time as designated by the Commission. considered the proposed rule’s impact on
22 17 CFR 200.30–3(a)(12).
19 17 CFR 240.19b–4(f)(6). 1 15 U.S.C. 78s(b)(1).
efficiency, competition, and capital formation. See
20 17 CFR 240.19b–4(f)(6)(iii). 15 U.S.C. 78c(f). 2 17 CFR 240.19b–4.
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Document Created: 2018-02-02 12:40:07
Document Modified: 2018-02-02 12:40:07
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 4689 |
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