81 FR 64520 - Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Bylaws Title

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 182 (September 20, 2016)

Page Range		64520-64521
FR Document		2016-22540
Federal Register, Volume 81 Issue 182 (Tuesday, September 20, 2016)
[Federal Register Volume 81, Number 182 (Tuesday, September 20, 2016)]
[Notices]
[Pages 64520-64521]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-22540]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78868; File No. SR-C2-2016-019]


Self-Regulatory Organizations; C2 Options Exchange, Incorporated; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
to Amend the Bylaws Title

September 14, 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 September 8, 2016, C2 Options Exchange, Incorporated (the 
``Exchange'' or ``C2'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I, II, and III below, which Items have been prepared by the 
Exchange. The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
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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 the 
Substance of the Proposed Rule Change

    The Exchange proposes to amend the title of its Bylaws. The text of 
the proposed rule change is provided below.

[(additions are italicized; deletions are [bracketed])
* * * * *

[FIFTH] SEVENTH AMENDED AND RESTATED BYLAWS OF C2 OPTIONS EXCHANGE, 
INCORPORATED

* * * * *
    The text of the proposed rule change is also available on the 
Exchange's Web site (http://www.c2exchange.com/Legal/ Legal/), 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 proposes to amend the title of its Bylaws to correct 
an inadvertent error. Particularly, the Exchange recently amended its 
Bylaws and changed the title from ``Fourth Amended and Restated Bylaws 
of C2 Options Exchange, Incorporated'' to ``Fifth Amended and Restated 
Bylaws of C2 Options Exchange, Incorporated.'' \3\ The actual title of 
the effective Bylaws at the time however, was ``Sixth Amended and 
Restated Bylaws of C2 Options Exchange, Incorporated.'' As such, the 
title should have been amended to ``Seventh Amended and Restated Bylaws 
of C2 Options Exchange, Incorporated.'' Accordingly, the Exchange 
proposes to amend the title to accurately reflect the correct version 
of the Bylaws. No substantive changes are being made by this proposed 
rule change.
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    \3\ See Securities Exchange Act Release No. 34-78294 (July 12, 
2016) 81 FR 137 [sic] (July 18, 2016) (SR-C2-2016-005).
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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.\4\ Specifically, the 
Exchange believes the proposed rule change is consistent with the 
Section 6(b)(5) \5\ 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) \6\ requirement that the rules of an exchange not be 
designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
    \6\ Id.
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    In particular, the Exchange believes correcting an inadvertent 
error relating to the title of its Bylaws to reflect the actual version 
will avoid potential confusion, thereby removing impediments to, and 
perfecting the mechanism for a free and open market and a national 
market system, and, in general, protecting investors and the public 
interest of market participants. The proposed rule change is merely 
correcting an inaccurate reference in the Bylaws' title and is making 
no substantive changes.

[[Page 64521]]

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

    C2 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. Rather, the proposed rule 
change is merely attempting to correct an inadvertent reference error 
in the Exchange's Bylaws. The proposed rule change has no impact on 
competition.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A) of the Act \7\ and paragraph (f) of Rule 19b-4 \8\ 
thereunder. 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 will institute proceedings to 
determine whether the proposed rule change should be approved or 
disapproved.
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    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-C2-2016-019 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-C2-2016-019. 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-C2-2016-019, and should be 
submitted on or before October 11, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-22540 Filed 9-19-16; 8:45 am]
 BILLING CODE 8011-01-P
64520 Federal Register / Vol. 81, No. 182 / Tuesday, September 20, 2016 / Notices

register securities to be issued in ‘‘Act’’),1 and Rule 19b-4 thereunder,2 ‘‘Fifth Amended and Restated Bylaws of
connection with an employee benefit notice is hereby given that on C2 Options Exchange, Incorporated.’’ 3
plan. Form S–8 provides verification of September 8, 2016, C2 Options The actual title of the effective Bylaws
compliance with securities law Exchange, Incorporated (the ‘‘Exchange’’ at the time however, was ‘‘Sixth
requirements and assures the public or ‘‘C2’’) filed with the Securities and Amended and Restated Bylaws of C2
availability and dissemination of such Exchange Commission (the Options Exchange, Incorporated.’’ As
information. The likely respondents will ‘‘Commission’’) the proposed rule such, the title should have been
be companies. The information must be change as described in Items I, II, and amended to ‘‘Seventh Amended and
filed with the Commission on occasion. III below, which Items have been Restated Bylaws of C2 Options
Form S–8 is a public document. All prepared by the Exchange. The Exchange, Incorporated.’’ Accordingly,
information provided is mandatory. We Commission is publishing this notice to the Exchange proposes to amend the
estimate that Form S–8 takes solicit comments on the proposed rule title to accurately reflect the correct
approximately 24 hours per response to change from interested persons. version of the Bylaws. No substantive
prepare and is filed by approximately I. Self-Regulatory Organization’s changes are being made by this
2,140 respondents. In addition, we Statement of the Terms of the Substance proposed rule change.
estimate that 50% of the preparation of the Proposed Rule Change
time (12 hours) is completed in-house 2. Statutory Basis
by the filer for a total annual reporting The Exchange proposes to amend the
title of its Bylaws. The text of the The Exchange believes the proposed
burden of 25,680 hours (12 hours per
proposed rule change is provided rule change is consistent with the
response x 2,140 responses)
below. Securities Exchange Act of 1934 (the
An agency may conduct or sponsor, ‘‘Act’’) and the rules and regulations
[(additions are italicized; deletions are
and a person is not required to respond thereunder applicable to the Exchange
[bracketed])
to, a collection of information unless it and, in particular, the requirements of
displays a currently valid control * * * * *
Section 6(b) of the Act.4 Specifically,
number. [FIFTH] SEVENTH AMENDED AND the Exchange believes the proposed rule
The public may view the background RESTATED BYLAWS OF C2 OPTIONS change is consistent with the Section
documentation for this information EXCHANGE, INCORPORATED 6(b)(5) 5 requirements that the rules of
collection at the following Web site, * * * * * an exchange be designed to prevent
www.reginfo.gov . Comments should be The text of the proposed rule change fraudulent and manipulative acts and
directed to: (i) Desk Officer for the is also available on the Exchange’s Web practices, to promote just and equitable
Securities and Exchange Commission, site (http://www.c2exchange.com/ principles of trade, to foster cooperation
Office of Information and Regulatory Legal/), at the Exchange’s Office of the and coordination with persons engaged
Affairs, Office of Management and Secretary, and at the Commission’s in regulating, clearing, settling,
Budget, Room 10102, New Executive Public Reference Room. processing information with respect to,
Office Building, Washington, DC 20503, and facilitating transactions in
or by sending an email to: Shagufta_ II. Self-Regulatory Organization’s securities, to remove impediments to
Ahmed@omb.eop.gov; and (ii) Pamela Statement of the Purpose of, and and perfect the mechanism of a free and
Dyson, Director/Chief Information Statutory Basis for, the Proposed Rule open market and a national market
Officer, Securities and Exchange Change
system, and, in general, to protect
Commission, c/o Remi Pavlik-Simon, In its filing with the Commission, the investors and the public interest.
100 F Street NE., Washington, DC 20549 Exchange included statements Additionally, the Exchange believes the
or send an email to: PRA_Mailbox@ concerning the purpose of and basis for proposed rule change is consistent with
sec.gov. Comments must be submitted to the proposed rule change and discussed the Section 6(b)(5) 6 requirement that
OMB within 30 days of this notice. any comments it received on the the rules of an exchange not be designed
Dated: September 13, 2016. proposed rule change. The text of these to permit unfair discrimination between
statements may be examined at the customers, issuers, brokers, or dealers.
Robert W. Errett,
places specified in Item IV below. The
Deputy Secretary. Exchange has prepared summaries, set In particular, the Exchange believes
[FR Doc. 2016–22541 Filed 9–19–16; 8:45 am] forth in sections A, B, and C below, of correcting an inadvertent error relating
BILLING CODE 8011–01–P the most significant aspects of such to the title of its Bylaws to reflect the
statements. actual version will avoid potential
confusion, thereby removing
SECURITIES AND EXCHANGE A. Self-Regulatory Organization’s impediments to, and perfecting the
COMMISSION Statement of the Purpose of, and mechanism for a free and open market
Statutory Basis for, the Proposed Rule and a national market system, and, in
Change general, protecting investors and the
[Release No. 34–78868; File No. SR–C2–
2016–019] 1. Purpose public interest of market participants.
The proposed rule change is merely
The Exchange proposes to amend the correcting an inaccurate reference in the
Self-Regulatory Organizations; C2 title of its Bylaws to correct an
Options Exchange, Incorporated; Bylaws’ title and is making no
sradovich on DSK3GMQ082PROD with NOTICES

inadvertent error. Particularly, the substantive changes.
Notice of Filing and Immediate Exchange recently amended its Bylaws
Effectiveness of a Proposed Rule and changed the title from ‘‘Fourth
Change to Amend the Bylaws Title Amended and Restated Bylaws of C2
3 See Securities Exchange Act Release No. 34–

78294 (July 12, 2016) 81 FR 137 [sic] (July 18, 2016)
September 14, 2016. Options Exchange, Incorporated’’ to (SR–C2–2016–005).
4 15 U.S.C. 78f(b).
Pursuant to Section 19(b)(1) of the 1 15 U.S.C. 78s(b)(1). 5 15 U.S.C. 78f(b)(5).
Securities Exchange Act of 1934 (the 2 17 CFR 240.19b–4. 6 Id.

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Federal Register / Vol. 81, No. 182 / Tuesday, September 20, 2016 / Notices 64521

B. Self-Regulatory Organization’s number should be included on the (‘‘Exchange’’ or ‘‘CBOE’’) filed with the
Statement on Burden on Competition subject line if email is used. To help the Securities and Exchange Commission
C2 does not believe that the proposed Commission process and review your (‘‘Commission’’) the proposed rule
rule change will impose any burden on comments more efficiently, please use change as described in Items I, II, and
competition that is not necessary or only one method. The Commission will III below, which Items have been
appropriate in furtherance of the post all comments on the Commission’s prepared by the Exchange. The
purposes of the Act. Rather, the Internet Web site (http://www.sec.gov/ Commission is publishing this notice to
proposed rule change is merely rules/sro.shtml). Copies of the solicit comments on the proposed rule
attempting to correct an inadvertent submission, all subsequent change from interested persons.
reference error in the Exchange’s amendments, all written statements
I. Self-Regulatory Organization’s
Bylaws. The proposed rule change has with respect to the proposed rule
Statement of the Terms of Substance of
no impact on competition. change that are filed with the
the Proposed Rule Change
Commission, and all written
C. Self-Regulatory Organization’s communications relating to the The Exchange proposes to enhance
Statement on Comments on the proposed rule change between the current and adopt new price protection
Proposed Rule Change Received From Commission and any person, other than mechanisms and risk controls for orders
Members, Participants, or Others those that may be withheld from the and quotes.
public in accordance with the The text of the proposed rule change
The Exchange neither solicited nor
provisions of 5 U.S.C. 552, will be is available on the Exchange’s Web site
received comments on the proposed
available for Web site viewing and (http://www.cboe.com/AboutCBOE/
rule change.
printing in the Commission’s Public CBOELegalRegulatoryHome.aspx), at
III. Date of Effectiveness of the Reference Room, 100 F Street NE., the Exchange’s Office of the Secretary,
Proposed Rule Change and Timing for Washington, DC 20549 on official and at the Commission’s Public
Commission Action business days between the hours of Reference Room.
The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of such II. Self-Regulatory Organization’s
effective pursuant to Section 19(b)(3)(A) filing also will be available for Statement of the Purpose of, and
of the Act 7 and paragraph (f) of Rule inspection and copying at the principal Statutory Basis for, the Proposed Rule
19b–4 8 thereunder. At any time within office of the Exchange. All comments Change
60 days of the filing of the proposed rule received will be posted without change;
the Commission does not edit personal In its filing with the Commission, the
change, the Commission summarily may Exchange included statements
temporarily suspend such rule change if identifying information from
submissions. You should submit only concerning the purpose of and basis for
it appears to the Commission that such the proposed rule change and discussed
action is necessary or appropriate in the information that you wish to make
available publicly. All submissions any comments it received on the
public interest, for the protection of proposed rule change. The text of these
investors, or otherwise in furtherance of should refer to File Number SR–C2–
2016–019, and should be submitted on statements may be examined at the
the purposes of the Act. If the places specified in Item IV below. The
Commission takes such action, the or before October 11, 2016.
Exchange has prepared summaries, set
Commission will institute proceedings For the Commission, by the Division of forth in sections A, B, and C below, of
to determine whether the proposed rule Trading and Markets, pursuant to delegated the most significant aspects of such
change should be approved or authority.9
statements.
disapproved. Robert W. Errett,
Deputy Secretary. A. Self-Regulatory Organization’s
IV. Solicitation of Comments Statement of the Purpose of, and the
[FR Doc. 2016–22540 Filed 9–19–16; 8:45 am]
Interested persons are invited to BILLING CODE 8011–01–P
Statutory Basis for, the Proposed Rule
submit written data, views, and Change
arguments concerning the foregoing, 1. Purpose
including whether the proposed rule SECURITIES AND EXCHANGE
change is consistent with the Act. COMMISSION The Exchange has in place various
Comments may be submitted by any of price check mechanisms and risk
[Release No. 34–78839; File No. SR–CBOE– controls that are designed to prevent
the following methods: 2016–053] incoming orders and quotes from
Electronic Comments automatically executing at potentially
Self-Regulatory Organizations;
• Use the Commission’s Internet Chicago Board Options Exchange,
erroneous prices or to assist Trading
comment form (http://www.sec.gov/ Permit Holders (‘‘TPHs’’) with managing
Incorporated; Notice of Filing of a
rules/sro.shtml); or their risk.3 These mechanisms and
Proposed Rule Change Relating to
• Send an email to rule-comments@ controls are designed to help maintain
Price Protection Mechanisms and Risk
sec.gov. Please include File Number SR– a fair and orderly market by mitigating
Controls
C2–2016–019 on the subject line. potential risks associated with orders
September 14, 2016. trading at prices that are extreme and
Paper Comments potentially erroneous, or in extremely
Pursuant to Section 19(b)(1) of the
• Send paper comments in triplicate Securities Exchange Act of 1934 large and potentially erroneous
to Secretary, Securities and Exchange
sradovich on DSK3GMQ082PROD with NOTICES

(‘‘Act’’),1 and Rule 19b–4 thereunder,2 volumes, that may be harmful to market
Commission, 100 F Street NE., notice is hereby given that on participants. The Exchange proposes to
Washington, DC 20549–1090. September 1, 2016, Chicago Board
All submissions should refer to File Options Exchange, Incorporated 3 See, e.g., Rule 6.12(a)(3) through (5) (limit order

Number SR–C2–2016–019. This file price parameters), 6.13(b)(v) (market-width and
drill through price check parameters), 6.14 (price
9 17 CFR 200.30–3(a)(12). protections), 6.53C, Interpretation and Policy .08
7 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). (price check parameters for complex orders), and
8 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. 8.18 (Quote Risk Monitor Mechanism (‘‘QRM’’)).

VerDate Sep<11>2014 17:13 Sep 19, 2016 Jkt 238001 PO 00000 Frm 00094 Fmt 4703 Sfmt 4703 E:\FR\FM\20SEN1.SGM 20SEN1
Document Created: 2018-02-09 13:20:40
Document Modified: 2018-02-09 13:20:40
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 64520