81 FR 66111 - Sunshine Act Meeting
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 186 (September 26, 2016)
Federal Register Volume 81, Issue 186 (September 26, 2016)
| Page Range | 66111-66111 | |
| FR Document | 2016-23325 |
[Federal Register Volume 81, Number 186 (Monday, September 26, 2016)] [Notices] [Page 66111] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-23325] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given that, pursuant to the provisions of the Government in the Sunshine Act, Public Law 99-409, the Securities and Exchange Commission will hold an Open Meeting on Wednesday, September 28, 2016, at 10:00 a.m., in the Auditorium, Room L-002. The subject matter of the Open Meeting will be:The Commission will consider whether to adopt rules to establish enhanced standards for the operation and governance of certain clearing agencies pursuant to Section 17A of the Securities Exchange Act of 1934 and Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Commission will consider whether to propose amendments to certain definitions in Rule 17Ad-22 related to clearing agencies pursuant to Section 17A of the Securities Exchange Act of 1934 and Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Commission will consider whether to propose amendments to Rule 15c6-1 under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most broker-dealer transactions from three business days after the trade date to two business days after the trade date. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted, or postponed, please contact Brent J. Fields in the Office of the Secretary at (202) 551-5400. Dated: September 21, 2016. Brent J. Fields, Secretary. [FR Doc. 2016-23325 Filed 9-22-16; 4:15 pm] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 186 / Monday, September 26, 2016 / Notices 66111
on the facts presented and the certain definitions in Rule 17Ad–22 changes were published for comment in
representations made in the Letter. Any related to clearing agencies pursuant to the in the Federal Register on August
different facts or representations may Section 17A of the Securities Exchange 17, 2016.5 The Commission received no
require a different response. Persons Act of 1934 and Title VIII of the Dodd- comments regarding the proposals. This
relying upon this exemptive relief shall Frank Wall Street Reform and Consumer order approves the proposed rule
discontinue transactions involving the Protection Act. changes.
Shares of the Fund, pending • The Commission will consider
whether to propose amendments to Rule II. Description of the Proposals
presentation of the facts for the
Commission’s consideration, in the 15c6–1 under the Securities Exchange NYSE Arca and NYSE MKT each
event that any material change occurs Act of 1934 to shorten the standard require market makers to use risk
with respect to any of the facts or settlement cycle for most broker-dealer limitation mechanisms that
representations made by the Requestors transactions from three business days automatically remove a market maker’s
and, as is the case with all preceding after the trade date to two business days quotes in all series of an options class
letters, particularly with respect to the after the trade date. when the market maker’s risk settings
close alignment between the market At times, changes in Commission are triggered.6 The Exchanges state that
price of Shares and the Fund’s NAV. In priorities require alterations in the the risk settings are designed to mitigate
addition, persons relying on this scheduling of meeting items. the risk of multiple executions against a
exemption are directed to the anti-fraud For further information and to market maker’s quotes occurring
and anti-manipulation provisions of the ascertain what, if any, matters have been simultaneously across multiple series
Exchange Act, particularly Sections 9(a), added, deleted, or postponed, please and multiple options classes.7
10(b), and Rule10b–5 thereunder. contact Brent J. Fields in the Office of According to the Exchanges, the risk
Responsibility for compliance with the Secretary at (202) 551–5400. settings allow market makers to provide
these and any other applicable Dated: September 21, 2016. liquidity across potentially thousands of
provisions of the federal securities laws Brent J. Fields, options series without being at risk of
must rest with the persons relying on Secretary. executing the full cumulative size of all
this exemption. This Order should not of their quotes before being given
[FR Doc. 2016–23325 Filed 9–22–16; 4:15 pm]
be considered a view with respect to adequate opportunity to adjust their
BILLING CODE 8011–01–P
any other question that the proposed quotes.8
transactions may raise, including, but An Electronic Complex Order may
not limited to the adequacy of the execute against quotes or individual
SECURITIES AND EXCHANGE
disclosure concerning, and the orders comprising the Complex Order
COMMISSION
applicability of other federal or state (the ‘‘leg markets’’), or against Electronic
[Release No. 34–78888; File Nos. SR– Complex Orders resting in the
laws to, the proposed transactions. NYSEARCA–2016–109; SR–NYSEMKT– Consolidated Book.9 An incoming
For the Commission, by the Division of 2016–73] Electronic Complex Order will execute
Trading and Markets, pursuant to delegated against customer interest in the leg
authority.6 Self-Regulatory Organizations; NYSE
Arca, Inc.; NYSE MKT LLC; Order markets before executing against resting
Robert W. Errett,
Approving Proposed Rule Changes To Electronic Complex Orders at the same
Deputy Secretary. price (i.e., at the same total net debit or
[FR Doc. 2016–23043 Filed 9–23–16; 8:45 am] Provide for the Rejection of Certain
Electronic Complex Orders credit), provided that the leg market
BILLING CODE 8011–01–P interest can execute the Electronic
September 20, 2016. Complex Order in full or in a
permissible ratio.10 When an Electronic
SECURITIES AND EXCHANGE I. Introduction
COMMISSION On August 3, 2016, NYSE Arca, Inc. 5 See Securities Exchange Act Release Nos. 78546
(‘‘NYSE Arca’’) and NYSE MKT LLC (August 11, 2016), 81 FR 54867 (‘‘NYSE Arca
Sunshine Act Meeting (‘‘NYSE MKT’’) (each an ‘‘Exchange’’ Notice’’); and 78544 (August 11, 2016), 81 FR 54893
(‘‘NYSE MKT Notice’’).
Notice is hereby given that, pursuant and, together, the ‘‘Exchanges’’) filed 6 See NYSE Arca Notice, 81 FR at 54868; and
to the provisions of the Government in with the Securities and Exchange NYSE MKT Notice, 81 FR at 54893. Pursuant to
the Sunshine Act, Public Law 99–409, Commission (the ‘‘Commission’’), NYSE Arca Rule 6.40(b)(3), (c)(3), and (d)(3), and
the Securities and Exchange pursuant to Section 19(b)(1) 1 of the NYSE MKT Rule 928(b)(3), (c)(3), and (d)(3), the
Securities Exchange Act of 1934 (the Exchanges establish a time period during which
Commission will hold an Open Meeting their respective Systems calculate: (1) The number
on Wednesday, September 28, 2016, at ‘‘Act’’),2 and Rule 19b–4 thereunder,3 of trades executed by a market maker in a specified
10:00 a.m., in the Auditorium, Room proposed rule changes to amend NYSE options class; (2) the volume of contracts executed
L–002. Arca Rule 6.91(b) and NYSE MKT Rule by a market maker in a specified options class; or
980(d), respectively, to allow the (3) the percentage of a market maker’s quoted size
The subject matter of the Open in specified options class (the ‘‘risk settings’’).
Meeting will be: Exchanges to reject certain Electronic When a market maker has breached its risk settings
• The Commission will consider Complex Orders.4 The proposed rule (i.e., has traded more than the contract or volume
whether to adopt rules to establish limit or cumulative percentage limit of a class
enhanced standards for the operation 1 15 U.S.C. 78s(b)(1). during the specified measurement interval), each
2 15 U.S.C. 78a. Exchange’s System cancels all of the market maker’s
and governance of certain clearing 3 17 CFR 240.19b–4. quotes in that class until the market maker notifies
mstockstill on DSK3G9T082PROD with NOTICES
agencies pursuant to Section 17A of the 4 NYSE Arca Rule 6.91 defines ‘‘Electronic the Exchange that it will resume submitting quotes.
Securities Exchange Act of 1934 and Complex Order’’ to mean, for purposes of that rule,
See id. See also NYSE Arca Rule 6.40, Commentary
Title VIII of the Dodd-Frank Wall Street .02; and NYSE MKT Rule 980NY, Commentary .02.
‘‘any Complex Order as defined in Rule 6.62(e) or 7 See NYSE Arca Notice, 81 FR at 54868; and
Reform and Consumer Protection Act. any Stock/Option Order or Stock/Complex Order as
NYSE MKT Notice, 81 FR at 54894.
• The Commission will consider defined in Rule 6.62(h) that is entered into the
8 See id.
NYSE Arca System.’’ NYSE MKT Rule 980 defines
whether to propose amendments to ‘‘Electronic Complex Order’’ to mean, for purposes 9 See id. See also NYSE Arca Rule 6.91(a)(2)(ii);
of that rule, ‘‘any Complex Order as defined in Rule and NYSE MKT Rule 980NY(c)(ii).
6 17 CFR 200.30–3(a)(6) and (9). 900.3NY(e) that is entered into the System.’’ 10 See id.
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Document Created: 2018-02-09 13:23:13
Document Modified: 2018-02-09 13:23:13
| 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 66111 |
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