81 FR 54137 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Rule 24.6

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 157 (August 15, 2016)

Page Range		54137-54139
FR Document		2016-19318

Federal Register, Volume 81 Issue 157 (Monday, August 15, 2016)

[Federal Register Volume 81, Number 157 (Monday, August 15, 2016)]
[Notices]
[Pages 54137-54139]
From the Federal Register Online [www.thefederalregister.org]
[FR Doc No: 2016-19318]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78513; File No. SR-CBOE-2016-058]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change Relating to Rule 24.6

August 9, 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 August 8, 2016, Chicago Board Options Exchange, Incorporated
(the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I and II 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.
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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 seeks to amend Rule 24.6. The text of the proposed
rule change is provided below.

(additions are underlined; deletions are [bracketed])
* * * * *
Chicago Board Options Exchange, Incorporated Rules
* * * * *
Rule 24.6. Days and Hours of Business

(a)-(b) No change
. . . Interpretations and Policies:
.01-.05 No change.
.06 With respect to options on a foreign index that is comprised of
component securities trading in a single country, the Exchange may
determine

[[Page 54138]]

not to open the options for trading when the component securities of
the foreign index are not trading due to a holiday on the foreign
exchange(s) at which the component securities trade. At least once a
year in January, the Exchange will announce via Regulatory Circular the
days on which options on a particular foreign index will be closed
pursuant to this interpretation.
* * * * *
The text of the proposed rule change is also available on the
Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, and at the Commission's Public Reference Room.

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

In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

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

1. Purpose
The Exchange seeks to add Interpretation and Policy .06 to Rule
24.6 in order to specify that the Exchange may determine not to open
for trading options on a foreign index that is comprised of component
securities trading in a single country when the component securities of
the foreign index are not open for trading due to a holiday on the
foreign exchange or exchanges on which the component securities trade.
Rule 6.1.04 identifies the days on which the Exchange is not open
due to a holiday.\3\ Exchanges in foreign countries also have their own
holiday schedules.\4\ As CBOE lists and trades options that overlie
various foreign indexes,\5\ the components of which trade on foreign
exchanges, CBOE proposes to specify in its Rules that the Exchange may
determine to not open options on foreign indexes when the component
securities of the foreign index are not open for trading due to a
holiday on the foreign exchange; however, the Exchange proposes to
limit the application of this proposal to options on foreign indexes
that are comprised of component securities trading in a single
country.\6\
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\3\ Rule 6.1.04 provides that ``[t]he Board of Directors has
determined that the Exchange will not be open for business on New
Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good
Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving Day
or Christmas Day. The Board has also determined that, when any
holiday observed by the Exchange falls on a Saturday, the Exchange
will not be open for business on the preceding Friday, and that when
any holiday observed by the Exchange falls on a Sunday, the Exchange
will not be open for business on the following Monday, unless
unusual business conditions exist at the time.''
\4\ See e.g., Stock Exchange of Hong Kong Holiday Schedule,
available at: https://www.hkex.com.hk/eng/market/sec_tradinfo/tradcal/nont10.htm and London Stock Exchange Holiday Schedule,
available at: http://www.lseg.com/areas-expertise/our-markets/london-stock-exchange/equities-markets/trading-services/business-days.
\5\ See e.g., Rules 24.2.01, 24.2.02, and 24.2.03.
\6\ The Exchange notes that when there are multiple exchanges in
a single country trading the component securities of a foreign index
the holiday schedule for exchanges within that country are likely to
be the same or similar.
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The Exchange may trade options on various foreign indexes after
trading in all component securities has closed for the day and the
index level is no longer widely disseminated at least once every
fifteen seconds, provided that futures on the applicable indexes are
trading and prices for those contracts may be used as a proxy for the
current index value.\7\ For example, the component securities of the
FTSE China 50 Index open with the start of trading on the Stock
Exchange of Hong Kong (``SEHK'') at approximately 8:30 p.m. (Chicago
time) (prior day) and close with the end of trading on the SEHK at
approximately 3:00 a.m. (Chicago time) (next day). Thus, between 8:30
a.m. and 3:15 p.m. (Chicago time) the FTSE China 50 Index level is a
static value that market participants can access via data vendors.
However, the Exchange continues to trade options on the FTSE China 50
Index (``China 50 options'') from 8:30 a.m. Chicago time to 3:15 a.m.
Chicago time because prices of the E-Mini FTSE China 50 Index futures
trading at the CME may be used as a proxy for the current index
value.\8\ When SEHK is closed because of a holiday, E-Mini FTSE China
50 Index futures remain open and may still be used as a proxy for the
current index value. However, the Exchange may determine to keep China
50 Options (as well as other options on other foreign indexes) closed
because of a holiday on SEHK (or the applicable foreign exchange on
which the index constituents trade).
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\7\ See Rules 24.2.01(a)(8), 24.2.02(a)(8), and 24.2.03(a)(8).
\8\ The trading hours for E-Mini FTSE China 50 Index Futures are
from 5:00 p.m. (Chicago time) to 4:00 p.m. (Chicago time) the
following day, Sunday through Friday. See E-Mini FTSE China 50 Index
Future Contract specifications located at: http://www.cmegroup.com/education/files/e-mini-ftse-china-50-index-futures.pdf. The Exchange
believes E-Mini FTSE China 50 Index Futures are an appropriate proxy
for China 50 options.
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For example, prior to the launch of China 50 options, SEHK was
closed from the weekend of February 7-8 through the 2016 Lunar New Year
from February 8-10. Although E-Mini FTSE China 50 Index futures can be
used as a proxy, the Exchange may have determined that options
participants would be better served by keeping China 50 options closed
because the holiday caused the underlying index value to be unavailable
for an extended period of time.
With respect to options on foreign indexes specifically, the
Exchange has the authority to set the days and hours of business.\9\
This proposal simply seeks to add Interpretation and Policy .06 to
notify market participants that the Exchange may determine not to open
options on foreign indexes because of a holiday on a foreign exchange.
Furthermore, as proposed, Interpretation and Policy .06 will also
require the Exchange to announce via Regulatory Circular in January of
every year the particular days on which options on particular foreign
indexes will not be open due to a holiday on a foreign exchange or
exchanges. However, there may be holidays between the date this
proposal becomes effective and the following January; thus, the first
announcement will be made via Regulatory Circular within 30 days of
this proposal becoming effective.
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\9\ See Rule 24.6(a) (providing that with respect to options on
foreign indexes, the Board's designee shall determine the days and
hours of business.).
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Although keeping options closed because of a foreign exchange's
holidays will cause users of these particular options to not be able to
trade when the U.S. market is otherwise open, the closures will only
occur a few times a year. Furthermore, users will have sufficient
notice of such closures via the Regulatory Circular that will be
published every January. Finally, this proposal may potentially allow
users to receive better executions because for certain holidays, such
as during the Lunar New Year described above, the closing of the
component securities may not allow Market-Makers to quote as tightly
and aggressively as they would otherwise. In effect, limiting users'
ability to trade particular index options to days on which there is not
a holiday on a foreign exchange may better serve

[[Page 54139]]

users because they will be trading on days in which Market-Makers may
potentially provide tighter markets.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\10\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \11\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \12\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
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\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(5).
\12\ Id.
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In particular, the proposal helps 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
by: (1) Limiting users' ability to trade particular index options to
days on which there is not a holiday on a foreign exchange because
doing so allows users of these index options to trade on days in which
Market-Makers may potentially provide tighter markets and (2) providing
a mechanism for notifying market participants of the days on which
options on a particular foreign index will not be open due to a holiday
on the foreign exchange(s) on which the index constituents trade.

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

CBOE does not believe that the proposed rule change will impose any
burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. The proposal will not impose a
burden on intramarket competition because all participants will be
subject to the same holiday schedule as set forth by the Exchange.
Furthermore, all participants will have adequate notice of the holiday
schedule by virtue of the Exchange publishing a Regulatory Circular in
January of every year that announces such holidays. The proposal will
not impose a burden on intermarket competition because the options
effected by this proposal are options on foreign indexes that are
exclusive to CBOE. Any perceived burden on users of these options is
outweighed by the fact that users may potentially receive better
executions by trading on days on which Market-Makers may potentially be
able to provide tighter markets.

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

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

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

Because the foregoing proposed rule change does not: (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 \13\ and Rule 19b-
4(f)(6) thereunder.\14\
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file 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 requirement.
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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.

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 rule-comments@sec.gov. Please include
File Number SR-CBOE-2016-058 on the subject line.

Paper Comments

Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CBOE-2016-058. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2016-058 and should be
submitted on or before September 6, 2016.

For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-19318 Filed 8-12-16; 8:45 am]
BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 157 / Monday, August 15, 2016 / Notices 54137

proposal that is seeking to further the of the Act 20 and paragraph (f) of Rule submissions. You should submit only
growth of the Exchange. The Exchange 19b–4 thereunder.21 At any time within information that you wish to make
has structured certain fees and rebates 60 days of the filing of the proposed rule available publicly. All submissions
proposed herein to attract certain change, the Commission summarily may should refer to File Number SR-
additional volume in both Customer and temporarily suspend such rule change if BatsBZX–2016–44 and should be
certain Non-Customer orders, however, it appears to the Commission that such submitted on or before September 6,
the Exchange believes that its pricing for action is necessary or appropriate in the 2016.
all capacities is competitive with that public interest, for the protection of For the Commission, by the Division of
offered by other options exchanges. investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated
Additionally, Members may opt to the purposes of the Act. authority.22
disfavor the Exchange’s pricing if they Robert W. Errett,
IV. Solicitation of Comments
believe that alternatives offer them Deputy Secretary.
better value. Accordingly, the Exchange Interested persons are invited to
submit written data, views, and [FR Doc. 2016–19320 Filed 8–12–16; 8:45 am]
does not believe that the proposed
change will impair the ability of arguments concerning the foregoing, BILLING CODE 8011–01–P

Members or competing venues to including whether the proposed rule
maintain their competitive standing in change is consistent with the Act.
Comments may be submitted by any of SECURITIES AND EXCHANGE
the financial markets. Additionally,
the following methods: COMMISSION
Members may opt to disfavor the
Exchange’s pricing if they believe that Electronic Comments [Release No. 34–78513; File No. SR–CBOE–
alternatives offer them better value. 2016–058]
Accordingly, the Exchange does not • Use the Commission’s Internet
believe that the proposed changes to the comment form (http://www.sec.gov/ Self-Regulatory Organizations;
Exchange’s tiered pricing structure rules/sro.shtml); or Chicago Board Options Exchange,
burdens competition, but instead • Send an email to rule-comments@ Incorporated; Notice of Filing and
enhances competition by increasing the sec.gov. Please include File Number SR- Immediate Effectiveness of a Proposed
competitiveness of the Exchange. The BatsBZX–2016–44 on the subject line. Rule Change Relating to Rule 24.6
Exchange believes that the price Paper Comments August 9, 2016.
changes contribute to, rather than
• Send paper comments in triplicate Pursuant to Section 19(b)(1) of the
burden competition, as such changes are Securities Exchange Act of 1934 (the
to Secretary, Securities and Exchange
broadly intended to incentivize ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Commission, 100 F Street NE.,
participants to increase their notice is hereby given that on August 8,
Washington, DC 20549–1090.
participation on the Exchange, which 2016, Chicago Board Options Exchange,
will increase the liquidity and market All submissions should refer to File
Number SR-BatsBZX–2016–44. This file Incorporated (the ‘‘Exchange’’ or
quality on the Exchange and further ‘‘CBOE’’) filed with the Securities and
enhance the Exchange’s ability to number should be included on the
subject line if email is used. To help the Exchange Commission (the
compete with other exchanges. ‘‘Commission’’) the proposed rule
With regard to the proposed logical Commission process and review your
comments more efficiently, please use change as described in Items I and II
port fee amendment, the Exchange
only one method. The Commission will below, which Items have been prepared
believes that fees for connectivity are
post all comments on the Commission’s by the Exchange. The Commission is
constrained by the robust competition
Internet Web site (http://www.sec.gov/ publishing this notice to solicit
for order flow among exchanges and
rules/sro.shtml). Copies of the comments on the proposed rule change
non-exchange markets. Further,
submission, all subsequent from interested persons.
excessive fees for connectivity,
including logical port fees, would serve amendments, all written statements I. Self-Regulatory Organization’s
to impair an exchange’s ability to with respect to the proposed rule Statement of the Terms of Substance of
compete for order flow rather than change that are filed with the the Proposed Rule Change
burdening competition. The Exchange Commission, and all written
communications relating to the The Exchange seeks to amend Rule
also does not believe the proposed rule 24.6. The text of the proposed rule
change would impact intramarket proposed rule change between the
Commission and any person, other than change is provided below.
competition as it would apply to all
those that may be withheld from the (additions are underlined; deletions are
Members and non-Members equally.
public in accordance with the [bracketed])
(C) Self-Regulatory Organization’s provisions of 5 U.S.C. 552, will be * * * * *
Statement on Comments on the available for Web site viewing and Chicago Board Options Exchange,
Proposed Rule Change Received From printing in the Commission’s Public Incorporated Rules
Members, Participants or Others Reference Room, 100 F Street, NE., * * * * *
The Exchange has not solicited, and Washington, DC 20549, on official Rule 24.6. Days and Hours of Business
does not intend to solicit, comments on business days between the hours of (a)–(b) No change
this proposed rule change. The 10:00 a.m. and 3:00 p.m. Copies of such . . . Interpretations and Policies:
Exchange has not received any written filing will also be available for .01–.05 No change.
sradovich on DSK3GMQ082PROD with NOTICES

comments from members or other inspection and copying at the principal .06 With respect to options on a
interested parties. office of the Exchange. All comments foreign index that is comprised of
received will be posted without change; component securities trading in a single
III. Date of Effectiveness of the
the Commission does not edit personal country, the Exchange may determine
Proposed Rule Change and Timing for
identifying information from
Commission Action 22 17 CFR 200.30–3(a)(12).
The foregoing rule change has become 20 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1).
effective pursuant to Section 19(b)(3)(A) 21 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4.

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Federal Register / Vol. 81, No. 157 / Monday, August 15, 2016 / Notices 54139

users because they will be trading on Furthermore, all participants will have Electronic Comments
days in which Market-Makers may adequate notice of the holiday schedule
potentially provide tighter markets. by virtue of the Exchange publishing a • Use the Commission’s Internet
Regulatory Circular in January of every comment form (http://www.sec.gov/
2. Statutory Basis rules/sro.shtml); or
year that announces such holidays. The
The Exchange believes the proposed proposal will not impose a burden on • Send an email to rule-comments@
rule change is consistent with the intermarket competition because the sec.gov. Please include File Number SR–
Securities Exchange Act of 1934 (the options effected by this proposal are CBOE–2016–058 on the subject line.
‘‘Act’’) and the rules and regulations options on foreign indexes that are
thereunder applicable to the Exchange exclusive to CBOE. Any perceived Paper Comments
and, in particular, the requirements of burden on users of these options is
Section 6(b) of the Act.10 Specifically, outweighed by the fact that users may • Send paper comments in triplicate
the Exchange believes the proposed rule potentially receive better executions by to Secretary, Securities and Exchange
change is consistent with the Section trading on days on which Market- Commission, 100 F Street NE.,
6(b)(5) 11 requirements that the rules of Makers may potentially be able to Washington, DC 20549–1090.
an exchange be designed to prevent provide tighter markets.
fraudulent and manipulative acts and All submissions should refer to File
practices, to promote just and equitable C. Self-Regulatory Organization’s Number SR–CBOE–2016–058. This file
principles of trade, to foster cooperation Statement on Comments on the number should be included on the
and coordination with persons engaged Proposed Rule Change Received From subject line if email is used. To help the
in regulating, clearing, settling, Members, Participants, or Others Commission process and review your
processing information with respect to, comments more efficiently, please use
and facilitating transactions in The Exchange neither solicited nor only one method. The Commission will
securities, to remove impediments to received comments on the proposed post all comments on the Commission’s
and perfect the mechanism of a free and rule change. Internet Web site (http://www.sec.gov/
open market and a national market III. Date of Effectiveness of the rules/sro.shtml). Copies of the
system, and, in general, to protect Proposed Rule Change and Timing for submission, all subsequent
investors and the public interest. Commission Action amendments, all written statements
Additionally, the Exchange believes the with respect to the proposed rule
proposed rule change is consistent with Because the foregoing proposed rule change that are filed with the
the Section 6(b)(5) 12 requirement that change does not: (i) Significantly affect Commission, and all written
the rules of an exchange not be designed the protection of investors or the public communications relating to the
to permit unfair discrimination between interest; (ii) impose any significant
proposed rule change between the
customers, issuers, brokers, or dealers. burden on competition; and (iii) become
Commission and any person, other than
In particular, the proposal helps to operative for 30 days from the date on
those that may be withheld from the
remove impediments to and perfect the which it was filed, or such shorter time
as the Commission may designate, it has public in accordance with the
mechanism of a free and open market
and a national market system, and, in become effective pursuant to Section provisions of 5 U.S.C. 552, will be
general, to protect investors and the 19(b)(3)(A) of the Act 13 and Rule 19b– available for Web site viewing and
public interest by: (1) Limiting users’ 4(f)(6) thereunder.14 printing in the Commission’s Public
ability to trade particular index options Reference Room, 100 F Street NE.,
At any time within 60 days of the Washington, DC 20549 on official
to days on which there is not a holiday filing of the proposed rule change, the
on a foreign exchange because doing so business days between the hours of
Commission summarily may
allows users of these index options to 10:00 a.m. and 3:00 p.m. Copies of the
temporarily suspend such rule change if
trade on days in which Market-Makers filing also will be available for
it appears to the Commission that such
may potentially provide tighter markets inspection and copying at the principal
action is necessary or appropriate in the
and (2) providing a mechanism for office of the Exchange. All comments
public interest, for the protection of
notifying market participants of the days received will be posted without change;
investors, or otherwise in furtherance of
on which options on a particular foreign the Commission does not edit personal
the purposes of the Act.
index will not be open due to a holiday identifying information from
on the foreign exchange(s) on which the IV. Solicitation of Comments submissions. You should submit only
index constituents trade. information that you wish to make
Interested persons are invited to
B. Self-Regulatory Organization’s submit written data, views, and available publicly. All submissions
Statement on Burden on Competition arguments concerning the foregoing, should refer to File Number SR–CBOE–
including whether the proposed rule 2016–058 and should be submitted on
CBOE does not believe that the
proposed rule change will impose any change is consistent with the Act. or before September 6, 2016.
burden on competition that is not Comments may be submitted by any of For the Commission, by the Division of
necessary or appropriate in furtherance the following methods: Trading and Markets, pursuant to delegated
of the purposes of the Act. The proposal authority.15
sradovich on DSK3GMQ082PROD with NOTICES

will not impose a burden on intramarket 13 15 U.S.C. 78s(b)(3)(A). Robert W. Errett,
competition because all participants 14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
Deputy Secretary.
will be subject to the same holiday 4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file [FR Doc. 2016–19318 Filed 8–12–16; 8:45 am]
schedule as set forth by the Exchange. the proposed rule change at least five business days BILLING CODE 8011–01–P
prior to the date of filing of the proposed rule
10 15 U.S.C. 78f(b). change, or such shorter time as designated by the
11 15 U.S.C. 78f(b)(5).
Commission. The Exchange has satisfied this 15 17 CFR 200.30–3(a)(12).
12 Id. requirement.

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Document Created: 2016-08-13 02:22:24
Document Modified: 2016-08-13 02:22:24

Category		Regulatory Information
Collection		Federal Register
sudoc Class		AE 2.7: GS 4.107: AE 2.106:
Publisher		Office of the Federal Register, National Archives and Records Administration
Section		Notices
FR Citation		81 FR 54137