81 FR 63241 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of Bats BZX Exchange, Inc.
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 178 (September 14, 2016)
Federal Register Volume 81, Issue 178 (September 14, 2016)
| Page Range | 63241-63243 | |
| FR Document | 2016-22028 |
[Federal Register Volume 81, Number 178 (Wednesday, September 14, 2016)] [Notices] [Pages 63241-63243] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-22028] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78787; File No. SR-BatsBZX-2016-57] Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of Bats BZX Exchange, Inc. September 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 August 31, 2016, Bats BZX Exchange, Inc. (the ``Exchange'' or ``BZX'') 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 Exchange has designated the proposed rule change as one establishing or changing a member due, fee, or other charge imposed by the Exchange under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. \3\ 15 U.S.C. 78s(b)(3)(A)(ii). \4\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend the fee schedule applicable to Members \5\ and non-Members of the Exchange pursuant to BZX Rules 15.1(a) and (c). --------------------------------------------------------------------------- \5\ A Member is defined as ``any registered broker or dealer that has been admitted to membership in the Exchange.'' See Exchange Rule 1.5(n). --------------------------------------------------------------------------- The text of the proposed rule change is available at the Exchange's Web site at www.batstrading.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 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 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 modify its fee schedule applicable to the Exchange's options platform (``BZX Options'') to: (i) Adopt a new Quoting Incentive Program Tier under footnote 5; and (ii) adopt a new NBBO Setter Tier under footnote 4. Quoting Incentive Program (``QIP'') Tier 4 The Exchange currently offers three QIP tiers under footnote 5, which provide an additional rebate per contract for orders that add liquidity to the BZX Options Book \6\ in options classes in which a Member is a Market Maker \7\ registered on BZX Options pursuant to Rule 22.2. The Market Maker must be registered with BZX Options in an average of 20% or more of the associated options series in a class in order to qualify for QIP rebates for that class. The QIP tiers provide an enhanced rebate ranging from $0.02 to $0.05 per contract to qualifying Market Maker orders that yield fee code PM or NM. The Exchange now proposes to add QIP Tier 4 under which a Market Maker may receive an additional rebate of $0.03 per contract, where the Member has an ADAV \8\ in Market Maker orders equal to or greater than 0.40% of average TCV.\9\ --------------------------------------------------------------------------- \6\ See Exchange Rule 16.1(a)(9). \7\ ``Market Maker'' applies to any transaction identified by a Member for clearing in the Market Maker range at the OCC, where such Member is registered with the Exchange as a Market Maker as defined in Rule 16.1(a)(37). \8\ ``ADAV'' means average daily added volume calculated as the number of contracts added. \9\ ``TCV'' means total consolidated volume calculated as the volume reported by all exchanges to the consolidated transaction reporting plan for the month for which the fees apply, excluding volume on any day that the Exchange experiences an Exchange System Disruption and on any day with a scheduled early market close. --------------------------------------------------------------------------- NBBO Setter Tier The Exchange currently offers four NBBO Setter tiers under footnote 4, which provide an additional rebate per contract for non-Customer orders that add liquidity and establish a new National Best Bid or Offer (``NBBO''). The NBBO Setter tiers provide an enhanced rebate ranging from $0.02 to $0.05 per contract to qualifying non-Customer orders that yield fee code PA, PF, PM, PN, NA, NF, NM or NN. The Exchange now proposes to add a new NBBO Setter Tier 4 under which a non-Customer order may receive an additional rebate of $0.03 per contract where the Member has an ADAV in Market Maker orders equal to or greater than 0.40% of average TCV. As a result, the current NBBO Setter Tier 4 will be renamed to NBBO Setter Tier 5. Implementation Date The Exchange proposes to implement these amendments to its fee schedule as of September 1, 2016. [[Page 63242]] 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6 of the Act.\10\ Specifically, the Exchange believes that the proposed rule change is consistent with Section 6(b)(4) of the Act,\11\ in that it provides for the equitable allocation of reasonable dues, fees and other charges among members and other persons using any facility or system which the Exchange operates or controls. The Exchange notes that it operates in a highly competitive market in which market participants can readily direct order flow to competing venues if they deem fee levels to be excessive. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f. \11\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- Volume-based rebates such as those currently maintained on the Exchange have been widely adopted by equities and options exchanges and are equitable because they are open to all Members on an equal basis and provide additional benefits or discounts that are reasonably related to the value to an exchange's market quality associated with higher levels of market activity, such as higher levels of liquidity provision and/or growth patterns, and introduction of higher volumes of orders into the price and volume discovery processes. The Exchange believes that its proposal to add a new QIP Tier 4 under footnote 5 is reasonable, fair and equitable and non- discriminatory, for the reasons set forth above with respect to volume- based pricing generally. In addition, the Exchange believes the amount of the proposed rebate offered under QIP Tier 4 is equitable and reasonable because it is generally in line with the rebates offered pursuant to QIP Tiers 1 to 3. The Exchange also notes that although registration as a Market Maker is required to qualify for QIP, such registration is available to all Members on an equal basis. The Exchange also believes that the proposed tier is reasonable, fair and equitable, and non-discriminatory because it, like the QIP generally, is aimed to incentivize active market making on the Exchange. The Exchange believes that its proposal to add a new NBBO Setter Tier 4 under footnote 4 is reasonable, fair and equitable and non- discriminatory, for the reasons set forth above with respect to volume- based pricing generally. Similar to the pricing tiers discussed above, this incentive is reasonably related to the value to the Exchange's market quality associated with higher levels of market activity, including liquidity provision and the introduction of higher volumes of orders into the price and volume discovery processes. In particular, the enhanced rebate will encourage Market Maker orders at the NBBO, and is therefore directly focused on encouraging aggressively priced liquidity provision on BZX Options. The proposed differentiation between Market Makers and other market participants recognizes the differing contributions made to the liquidity and trading environment on the Exchange by these market participants. Market Makers, unlike other market participants, have obligations to the market and regulatory requirements,\12\ which normally do not apply to other market participants. A Market Maker has the obligation to make continuous markets, engage in course of dealings reasonably calculated to contribute to the maintenance of a fair and orderly market, and not make bids or offers or enter into transactions that are inconsistent with such course of dealings. On the other hand, other market participants do not have such obligations on the Exchange. For the same reasons, the Exchange believes it is reasonable to provide an additional incentive in the form of the proposed new NBBO Setter Tier 4 to Members submitting Market Maker orders. --------------------------------------------------------------------------- \12\ See Exchange Rule 22.5, Obligations of Market Makers. --------------------------------------------------------------------------- (B) Self-Regulatory Organization's Statement on Burden on Competition The Exchange believes the proposed amendments to its fee schedule would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. To the contrary, the Exchange has designed the proposed amendments to its fee schedule in order to enhance its ability to compete with other exchanges. Also, the Exchange believes that the expansion of criteria required to qualify for volume-tiered rebates by the Exchange contributes to rather than burdens competition, as such changes are intended to incentivize participants to increase their participation on the Exchange. Similarly, the introduction of a new QIP and NBBO Setter tier are intended to provide incentives to Market Makers to encourage them to enter orders to the Exchange, and thus is again intended to enhance competition. Additionally, Members may opt to disfavor the Exchange's pricing if they believe that alternatives offer them better value. Accordingly, the Exchange does not believe that the proposed change will impair the ability of Members or competing venues to maintain their competitive standing in the financial markets. Additionally, Members may opt to disfavor the Exchange's pricing if they believe that alternatives offer them better value. Accordingly, the Exchange does not believe that the proposed changes to the Exchange's tiered pricing structure burdens competition, but instead, enhances competition as it is intended to increase the competitiveness of the Exchange. Also, the Exchange believes that the price changes contribute to, rather than burden competition, as such changes are broadly intended to incentivize participants to increase their participation on the Exchange, which will increase the liquidity and market quality on the Exchange, which will then further enhance the Exchange's ability to compete with other exchanges. (C) Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \13\ and paragraph (f) of Rule 19b-4 thereunder.\14\ 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. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78s(b)(3)(A). \14\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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: [[Page 63243]] Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-BatsBZX-2016-57 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-BatsBZX-2016-57. 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 will also be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-BatsBZX-2016-57 and should be submitted on or before October 5, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\15\ --------------------------------------------------------------------------- \15\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-22028 Filed 9-13-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices 63241
subject line if email is used. To help the change as described in Items I, II and III Quoting Incentive Program (‘‘QIP’’)
Commission process and review your below, which Items have been prepared Tier 4
comments more efficiently, please use by the Exchange. The Exchange has
only one method. The Commission will designated the proposed rule change as The Exchange currently offers three
post all comments on the Commission’s one establishing or changing a member QIP tiers under footnote 5, which
Internet Web site (http://www.sec.gov/ due, fee, or other charge imposed by the provide an additional rebate per
rules/sro.shtml). Copies of the Exchange under Section 19(b)(3)(A)(ii) contract for orders that add liquidity to
submission, all subsequent of the Act 3 and Rule 19b–4(f)(2) the BZX Options Book 6 in options
amendments, all written statements thereunder,4 which renders the classes in which a Member is a Market
with respect to the proposed rule Maker 7 registered on BZX Options
proposed rule change effective upon
change that are filed with the pursuant to Rule 22.2. The Market
filing with the Commission. The
Commission, and all written Maker must be registered with BZX
communications relating to the Commission is publishing this notice to
Options in an average of 20% or more
proposed rule change between the solicit comments on the proposed rule
of the associated options series in a
Commission and any person, other than change from interested persons.
class in order to qualify for QIP rebates
those that may be withheld from the I. Self-Regulatory Organization’s for that class. The QIP tiers provide an
public in accordance with the Statement of the Terms of Substance of enhanced rebate ranging from $0.02 to
provisions of 5 U.S.C. 552, will be the Proposed Rule Change $0.05 per contract to qualifying Market
available for Web site viewing and Maker orders that yield fee code PM or
printing in the Commission’s Public The Exchange filed a proposal to NM. The Exchange now proposes to add
Reference Room, 100 F Street NE., amend the fee schedule applicable to QIP Tier 4 under which a Market Maker
Washington, DC 20549, on official Members 5 and non-Members of the may receive an additional rebate of
business days between the hours of Exchange pursuant to BZX Rules 15.1(a) $0.03 per contract, where the Member
10:00 a.m. and 3:00 p.m. Copies of such and (c).
filing will also be available for has an ADAV 8 in Market Maker orders
inspection and copying at the principal The text of the proposed rule change equal to or greater than 0.40% of
office of the Exchange. All comments is available at the Exchange’s Web site average TCV.9
received will be posted without change; at www.batstrading.com, at the
NBBO Setter Tier
the Commission does not edit personal principal office of the Exchange, and at
identifying information from the Commission’s Public Reference The Exchange currently offers four
submissions. You should submit only Room. NBBO Setter tiers under footnote 4,
information that you wish to make which provide an additional rebate per
II. Self-Regulatory Organization’s
available publicly. All submissions contract for non-Customer orders that
Statement of the Purpose of, and
should refer to File Number SR– add liquidity and establish a new
BatsBZX–2016–56 and should be Statutory Basis for, the Proposed Rule
Change National Best Bid or Offer (‘‘NBBO’’).
submitted on or before October 5, 2016. The NBBO Setter tiers provide an
For the Commission, by the Division of In its filing with the Commission, the enhanced rebate ranging from $0.02 to
Trading and Markets, pursuant to delegated Exchange included statements $0.05 per contract to qualifying non-
authority.14 concerning the purpose of and basis for Customer orders that yield fee code PA,
Brent J. Fields, the proposed rule change and discussed PF, PM, PN, NA, NF, NM or NN. The
Secretary. any comments it received on the Exchange now proposes to add a new
[FR Doc. 2016–22033 Filed 9–13–16; 8:45 am] proposed rule change. The text of these NBBO Setter Tier 4 under which a non-
BILLING CODE 8011–01–P statements may be examined at the Customer order may receive an
places specified in Item IV below. The additional rebate of $0.03 per contract
Exchange has prepared summaries, set where the Member has an ADAV in
SECURITIES AND EXCHANGE Market Maker orders equal to or greater
forth in Sections A, B, and C below, of
COMMISSION than 0.40% of average TCV. As a result,
the most significant parts of such
[Release No. 34–78787; File No. SR– statements. the current NBBO Setter Tier 4 will be
BatsBZX–2016–57] renamed to NBBO Setter Tier 5.
(A) Self-Regulatory Organization’s
Self-Regulatory Organizations; Bats Statement of the Purpose of, and Implementation Date
BZX Exchange, Inc.; Notice of Filing Statutory Basis for, the Proposed Rule
and Immediate Effectiveness of a The Exchange proposes to implement
Change these amendments to its fee schedule as
Proposed Rule Change Related to Fees
for Use of Bats BZX Exchange, Inc. 1. Purpose of September 1, 2016.
September 8, 2016. The Exchange proposes to modify its 6 See Exchange Rule 16.1(a)(9).
Pursuant to Section 19(b)(1) of the fee schedule applicable to the 7 ‘‘Market Maker’’ applies to any transaction
Securities Exchange Act of 1934 (the Exchange’s options platform (‘‘BZX identified by a Member for clearing in the Market
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Maker range at the OCC, where such Member is
Options’’) to: (i) Adopt a new Quoting registered with the Exchange as a Market Maker as
asabaliauskas on DSK3SPTVN1PROD with NOTICES
notice is hereby given that on August Incentive Program Tier under footnote defined in Rule 16.1(a)(37).
31, 2016, Bats BZX Exchange, Inc. (the 5; and (ii) adopt a new NBBO Setter Tier 8 ‘‘ADAV’’ means average daily added volume
‘‘Exchange’’ or ‘‘BZX’’) filed with the under footnote 4. calculated as the number of contracts added.
Securities and Exchange Commission 9 ‘‘TCV’’ means total consolidated volume
(‘‘Commission’’) the proposed rule calculated as the volume reported by all exchanges
3 15U.S.C. 78s(b)(3)(A)(ii). to the consolidated transaction reporting plan for
4 17CFR 240.19b–4(f)(2). the month for which the fees apply, excluding
14 17 CFR 200.30–3(a)(12). 5 A Member is defined as ‘‘any registered broker volume on any day that the Exchange experiences
1 15 U.S.C. 78s(b)(1). or dealer that has been admitted to membership in an Exchange System Disruption and on any day
2 17 CFR 240.19b–4. the Exchange.’’ See Exchange Rule 1.5(n). with a scheduled early market close.
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![Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices 63243
Electronic Comments SECURITIES AND EXCHANGE and at the Commission’s Public
COMMISSION Reference Room.
• Use the Commission’s Internet
comment form (http://www.sec.gov/ [Release No. 34–78601; File No. SR– II. Self-Regulatory Organization’s
rules/sro.shtml); or NYSEArca–2016–113] Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
• Send an email to rule-comments@ Self-Regulatory Organizations; NYSE Change
sec.gov. Please include File Number SR– Arca, Inc.; Notice of Filing and
BatsBZX–2016–57 on the subject line. Immediate Effectiveness of Proposed In its filing with the Commission, the
Rule Change Extending the Pilot Exchange included statements
Paper Comments concerning the purpose of and basis for
Period for the Exchange’s Retail
the proposed rule change and discussed
• Send paper comments in triplicate Liquidity Program
any comments it received on the
to Secretary, Securities and Exchange August 17, 2016. proposed rule change. The text of these
Commission, 100 F Street NE., statements may be examined at the
Washington, DC 20549–1090. Correction
places specified in Item IV below. The
In notice document 2016–20062, Exchange has prepared summaries, set
All submissions should refer to File
appearing on pages 57632–57634 in the forth in sections A, B, and C below, of
Number SR–BatsBZX–2016–57. This file
Issue of Tuesday, August 23, 2016, make the most significant aspects of such
number should be included on the the following correction:
subject line if email is used. To help the statements.
On page 57634, in the third column,
Commission process and review your beginning on the fifteenth line, the entry A. Self-Regulatory Organization’s
comments more efficiently, please use ‘‘September 12, 2016’’ should read Statement of the Purpose of, and
only one method. The Commission will ‘‘September 13, 2016’’. Statutory Basis for, the Proposed Rule
post all comments on the Commission’s [FR Doc. C1–2016–20062 Filed 9–12–16; 11:15 am]
Change
Internet Web site (http://www.sec.gov/ BILLING CODE 1505–01–D 1. Purpose
rules/sro.shtml). Copies of the
submission, all subsequent The Exchange proposes to amend its
amendments, all written statements SECURITIES AND EXCHANGE Fees Schedule. Specifically, the
with respect to the proposed rule COMMISSION Exchange proposes to (1) increase the
change that are filed with the payment to the Designated Primary
[Release No. 34–78786; File No. SR–CBOE– Market-Maker(s) appointed in FTSE 100
Commission, and all written 2016–066]
communications relating to the Index (‘‘UKXM’’) and the China 50
Index ‘‘(FXTM’’) and (2) eliminate the
proposed rule change between the Self-Regulatory Organizations; transaction fee for Professional
Commission and any person, other than Chicago Board Options Exchange, Customers and Voluntary Professionals
those that may be withheld from the Incorporated; Notice of Filing and (‘‘W’’ origin code) (‘‘Professionals’’) for
public in accordance with the Immediate Effectiveness of a Proposed all manual transactions in all penny and
provisions of 5 U.S.C. 552, will be Rule Change To Amend the Fees non-penny equity, index (excluding
available for Web site viewing and Schedule Underlying Symbol List A 3), ETF and
printing in the Commission’s Public September 8, 2016. ETN options classes.
Reference Room, 100 F Street NE., Pursuant to section 19(b)(1) of the Currently, the Exchange offers a
Washington, DC 20549, on official Securities Exchange Act of 1934 (the compensation plan to the DPM(s)
business days between the hours of ‘‘Act’’),1 and Rule 19b–4 thereunder,2 appointed in FXTM or UKXM to offset
10:00 a.m. and 3:00 p.m. Copies of such notice is hereby given that on the initial DPM costs. More specifically,
filing will also be available for September 1, 2016, Chicago Board Footnote 43 to the Fees Schedule
inspection and copying at the principal Options Exchange, Incorporated (the provides that DPM(s) appointed for an
office of the Exchange. All comments ‘‘Exchange’’ or ‘‘CBOE’’) filed with the entire month in either FXTM or UKXM
received will be posted without change; Securities and Exchange Commission will receive a payment of $5,000 per
the Commission does not edit personal (the ‘‘Commission’’) the proposed rule class per month through December 31,
identifying information from change as described in Items I, II, and 2016. The Payment was adopted to
submissions. You should submit only III below, which Items have been offset the initial DPM costs. The
information that you wish to make prepared by the Exchange. The Exchange notes that the startup and
available publicly. All submissions Commission is publishing this notice to ongoing costs to support these products
should refer to File Number SR- solicit comments on the proposed rule still exceeds the current DPM payment.
BatsBZX–2016–57 and should be change from interested persons. As such, the Exchange proposes to
submitted on or before October 5, 2016. increase the payment to $7,500 per class
I. Self-Regulatory Organization’s per month in order to help offset the
For the Commission, by the Division of Statement of the Terms of Substance of ongoing costs.
Trading and Markets, pursuant to delegated the Proposed Rule Change Next, the Exchange proposes to
authority.15 The Exchange proposes to amend its reduce the transaction fee for
Brent J. Fields,
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Fees Schedule. The text of the proposed Professionals for all manual transactions
Secretary. rule change is available on the in all penny and non-penny equity,
[FR Doc. 2016–22028 Filed 9–13–16; 8:45 am] Exchange’s Web site (http:// index (excluding Underlying Symbol
BILLING CODE 8011–01–P www.cboe.com/AboutCBOE/ List A), ETF and ETN options classes to
CBOELegalRegulatoryHome.aspx), at $0.00 per contract. Currently,
the Exchange’s Office of the Secretary, Professionals are assessed $0.25 per
contract for manual executions in those
1 15 U.S.C. 78s(b)(1).
15 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. 3 See CBOE Fees Schedule, Footnote 34.
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Document Created: 2016-09-14 02:27:09
Document Modified: 2016-09-14 02:27:09
| 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 63241 |
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