81 FR 67412 - Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee and Rebate Schedule To Create a Liquidity-Adding Volume Threshold To Benefit From the Current Liquidity Taking Fee in Securities Priced $1.00 or Greater
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 190 (September 30, 2016)
Federal Register Volume 81, Issue 190 (September 30, 2016)
| Page Range | 67412-67414 | |
| FR Document | 2016-23610 |
[Federal Register Volume 81, Number 190 (Friday, September 30, 2016)] [Notices] [Pages 67412-67414] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-23610] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78931; File No. SR-NSX-2016-11] Self-Regulatory Organizations; National Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee and Rebate Schedule To Create a Liquidity-Adding Volume Threshold To Benefit From the Current Liquidity Taking Fee in Securities Priced $1.00 or Greater September 26, 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 20, 2016, National Stock Exchange, Inc. (``NSX'' or the ``Exchange'') 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 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to amend its Fee and Rebate Schedule (the ``Fee Schedule''), issued pursuant to Exchange Rule 16.1, to: (1) Create a monthly, liquidity-adding volume threshold that Equity Trading Permit (``ETP'') Holders \3\ will be required to meet to continue to pay for [sic] the current liquidity-taking fee in securities priced $1.00 or greater and establish a different, higher liquidity-taking fee for ETP Holders that do not meet the new volume threshold; and (2) make ministerial changes to the Fee Schedule. --------------------------------------------------------------------------- \3\ Exchange Rule 1.5E(1) defines ``ETP'' as the Equity Trading Permit issued by the Exchange for effecting approved securities transactions on the Exchange's trading facilities. --------------------------------------------------------------------------- The text of the proposed rule change is available on the Exchange's Web site at http://www.nsx.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 amend its Fee Schedule, issued pursuant to Rule 16.1, with the goal of maximizing the effectiveness of its business model and continuing to provide ETP Holders a cost-effective execution venue. To further incentivize ETP Holders to post liquidity on the NSX Book,\4\ the Exchange is proposing to create a monthly, liquidity-adding volume threshold that an ETP Holder must reach to continue to pay the current liquidity-taking fee for securities priced $1.00 or greater. The Exchange proposes to adopt a different, higher liquidity-taking fee for ETP Holders that do not meet the new liquidity-adding volume threshold. --------------------------------------------------------------------------- \4\ Exchange Rule 1.5N(1) defines ``NSX Book'' as the trading systems' electronic file of orders. --------------------------------------------------------------------------- Currently, the Exchange charges ETP Holders $0.0003 per share executed for liquidity-taking orders in symbols priced at $1.00 or greater. The Exchange proposes to amend its fee schedule to add language in the Transaction Fees and Rebates section of the Fee Schedule and an Explanatory Note 1 which will create two different price structures depending on the amount of liquidity that an ETP Holder adds on the Exchange. Specifically, the Exchange will charge the current ``taker'' fee of $0.0003 per executed share for any marketable liquidity-removing order in securities priced at $1.00 or greater to any ETP Holder that executes at least 50,000 shares of liquidity-adding volume during a calendar month. An ETP Holder that does not execute at least 50,000 shares of liquidity-adding volume during a calendar month will be charged $0.0030 per executed share for any liquidity-removing order in securities priced at $1.00 or greater. After each calendar month, the Exchange will calculate the number of shares of liquidity- adding volume that each ETP Holder executed and apply the appropriate fee for the ETP Holder's liquidity-taking executions that calendar month. The Exchange also proposes to make the ministerial change of adjusting the numbering for Explanatory Notes in light of the addition of proposed Explanatory Note 1. Pursuant to Exchange Rule 16.1(c), the Exchange will ``provide ETP Holders with notice of all relevant dues, fees, assessments and charges of the Exchange'' through the issuance of an Information Circular and will post the Fee Schedule and the instant rule filing on the Exchange's Web site, www.nsx.com. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6(b) of the Act,\5\ in general and, in particular, Section 6(b)(4) of the Act,\6\ which requires that the rules of a national securities exchange provide for the equitable allocation of reasonable dues, fees, and other charges among its members and issuers and other persons using its facilities. The proposed rule change is also consistent with Section 6(b)(5) of the Act,\7\ which requires, among other things, that the rules of a national securities exchange not permit unfair discrimination between customers, issuers, brokers, or dealers, and be designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(4). \7\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange submits that the proposed liquidity-adding volume [[Page 67413]] threshold and associated fee are reasonable and equitable, as required by Section 6(b)(4) of the Act. The Exchange believes that the volume thresholds are reasonable because they have been set at achievable levels that will incentivize ETP Holders trading on the Exchange to add a greater amount of liquidity to the Exchange. This will result in greater price discovery and price improvement for ETP Holders and market participants. Further, the proposed ``taker'' fee of $0.0030 per share for securities priced $1.00 or greater is reasonable because it is within the range of fees that other exchanges charge per executed share for orders removing liquidity in securities priced $1.00 or greater.\8\ --------------------------------------------------------------------------- \8\ See, e.g., Bats BZX Exchange, Inc. (``BZX'') Fee Schedule and the Fee Schedule of the Chicago Stock Exchange, Inc. (``CHX''). As of September 2016, both BZX and CHX charge a fee of $0.0030 per executed share for orders removing liquidity in securities priced $1.00 or greater. --------------------------------------------------------------------------- The liquidity-adding volume threshold is equitable because each ETP Holder has the same opportunity to post liquidity on the Exchange totaling 50,000 shares in order to continue to pay the current $0.0003 per share ``taker'' fee, as opposed to the new, higher taker fee. Thus, the Fee Schedule provides for an equitable program which, the Exchange believes, will operate to encourage increased quoting and trading by ETP Holders on the Exchange. The Exchange notes that in the past it has offered, as a part of its Fee Schedule, a similar minimum, liquidity- adding volume threshold to qualify for a more advantageous ``taker'' fee.\9\ --------------------------------------------------------------------------- \9\ The Exchange has utilized a similar program as a part of its Fee Schedule in the past. That program provided that ``[e]ach ETP Holder will be charged $0.0030 per share for any marketable order that removes liquidity unless the ETP Holder executes at least 50,000 shares of liquidity-adding volume in Auto-Ex Mode per month.'' See Securities Exchange Act Release No. 67816 (September 10, 2012), 77 FR 56886 (September 14, 2012) SR-NSX-2012-14). The Exchange notes that, when this program was previously in effect, the majority of ETP Holders trading on the Exchange qualified for the lower fee tier. --------------------------------------------------------------------------- The Exchange further submits that its proposal that ETP Holders must attain at least 50,000 shares of executed liquidity-adding volume in a calendar month to benefit from the lower ``take'' fee of $0.0003 satisfies the requirements of Section 6(b)(5) of the Act in that it does not permit unfair discrimination between customers, issuers, brokers, or dealers, is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system. Under the proposed changes to the Fee Schedule, all ETP Holders executing orders on the Exchange will have the same opportunity to qualify for the lower priced fee tier through their trading activity adding liquidity on the Exchange, and such changes are thereby designed to meet the requirements of the Section 6(b)(5) that the rules of the Exchange not permit unfair discrimination among ETP Holders and their customers. The Exchange notes that, at present, approximately a dozen ETP Holders would meet the volume threshold of 50,000 shares of liquidity-adding volume to qualify for the current taker fee of $0.0003 per executed share. The Exchange submits that the proposal will promote just and equitable principles of trade by providing a reasonable and attainable volume threshold that will potentially attract more displayed volume on the Exchange. Incentivizing ETP Holders to add more liquidity on the Exchange would inure to the benefit of all market participants seeking additional execution opportunities. In this regard, the proposed Fee Schedule will promote just and equitable principles of trade and operate to remove impediments to and perfect the mechanism of a free and open market and a national market system under Section 6(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Exchange Act. The proposed changes will enhance rather than burden competition by operating to incentivize increased liquidity and improve execution quality on the Exchange through reasonable and equitably allocated economic incentives. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has taken effect upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act \10\ and subparagraph (f)(2) of Rule 19b-4.\11\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A)(ii). \11\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- At any time within 60 days of the filing of such 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 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-NSX-2016-11 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-NSX-2016-11. 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-NSX-2016-11 and should be submitted on or before October 21, 2016. [[Page 67414]] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Brent J. Fields, Secretary. [FR Doc. 2016-23610 Filed 9-29-16; 8:45 am] BILLING CODE 8011-01-P
![67412 Federal Register / Vol. 81, No. 190 / Friday, September 30, 2016 / Notices
Reference Room, 100 F Street NE., threshold that Equity Trading Permit and an Explanatory Note 1 which will
Washington, DC 20549 on official (‘‘ETP’’) Holders 3 will be required to create two different price structures
business days between the hours of meet to continue to pay for [sic] the depending on the amount of liquidity
10:00 a.m. and 3:00 p.m. Copies of such current liquidity-taking fee in securities that an ETP Holder adds on the
filing also will be available for priced $1.00 or greater and establish a Exchange. Specifically, the Exchange
inspection and copying at the principal different, higher liquidity-taking fee for will charge the current ‘‘taker’’ fee of
office of the Exchange. All comments ETP Holders that do not meet the new $0.0003 per executed share for any
received will be posted without change; volume threshold; and (2) make marketable liquidity-removing order in
the Commission does not edit personal ministerial changes to the Fee Schedule. securities priced at $1.00 or greater to
identifying information from The text of the proposed rule change any ETP Holder that executes at least
submissions. You should submit only is available on the Exchange’s Web site 50,000 shares of liquidity-adding
information that you wish to make at http://www.nsx.com, at the principal volume during a calendar month. An
available publicly. All submissions office of the Exchange, and at the ETP Holder that does not execute at
should refer to File Number SR–CBOE– Commission’s Public Reference Room. least 50,000 shares of liquidity-adding
2016–070, and should be submitted on volume during a calendar month will be
or before October 21, 2016. II. Self-Regulatory Organization’s charged $0.0030 per executed share for
Statement of the Purpose of, and any liquidity-removing order in
For the Commission, by the Division of Statutory Basis for, the Proposed Rule
Trading and Markets, pursuant to delegated securities priced at $1.00 or greater.
authority.11
Change After each calendar month, the
Brent J. Fields, In its filing with the Commission, the Exchange will calculate the number of
Secretary. Exchange included statements shares of liquidity-adding volume that
[FR Doc. 2016–23609 Filed 9–29–16; 8:45 am] concerning the purpose of and basis for each ETP Holder executed and apply
BILLING CODE 8011–01–P
the proposed rule change and discussed the appropriate fee for the ETP Holder’s
any comments it received on the liquidity-taking executions that calendar
proposed rule change. The text of these month.
SECURITIES AND EXCHANGE statements may be examined at the The Exchange also proposes to make
COMMISSION places specified in Item IV below. The the ministerial change of adjusting the
Exchange has prepared summaries, set numbering for Explanatory Notes in
[Release No. 34–78931; File No. SR–NSX– forth in sections A, B, and C below, of light of the addition of proposed
2016–11]
the most significant parts of such Explanatory Note 1.
Self-Regulatory Organizations; statements. Pursuant to Exchange Rule 16.1(c),
National Stock Exchange, Inc.; Notice the Exchange will ‘‘provide ETP Holders
A. Self-Regulatory Organization’s with notice of all relevant dues, fees,
of Filing and Immediate Effectiveness Statement of the Purpose of, and
of Proposed Rule Change To Amend assessments and charges of the
Statutory Basis for, the Proposed Rule Exchange’’ through the issuance of an
the Fee and Rebate Schedule To Change
Create a Liquidity-Adding Volume Information Circular and will post the
Threshold To Benefit From the Current 1. Purpose Fee Schedule and the instant rule filing
Liquidity Taking Fee in Securities on the Exchange’s Web site,
The Exchange proposes to amend its
Priced $1.00 or Greater www.nsx.com.
Fee Schedule, issued pursuant to Rule
16.1, with the goal of maximizing the 2. Statutory Basis
September 26, 2016.
effectiveness of its business model and The Exchange believes that the
Pursuant to Section 19(b)(1) of the
continuing to provide ETP Holders a proposed rule change is consistent with
Securities Exchange Act of 1934 (the
cost-effective execution venue. To the provisions of Section 6(b) of the
‘‘Act’’) 1 and Rule 19b–4 thereunder,2
further incentivize ETP Holders to post Act,5 in general and, in particular,
notice is hereby given that on
liquidity on the NSX Book,4 the Section 6(b)(4) of the Act,6 which
September 20, 2016, National Stock
Exchange is proposing to create a requires that the rules of a national
Exchange, Inc. (‘‘NSX’’ or the
monthly, liquidity-adding volume securities exchange provide for the
‘‘Exchange’’) filed with the Securities
threshold that an ETP Holder must equitable allocation of reasonable dues,
and Exchange Commission
reach to continue to pay the current fees, and other charges among its
(‘‘Commission’’) the proposed rule
liquidity-taking fee for securities priced members and issuers and other persons
change, as described in Items I, II, and
$1.00 or greater. The Exchange proposes using its facilities. The proposed rule
III below, which Items have been
to adopt a different, higher liquidity- change is also consistent with Section
prepared by the Exchange. The
taking fee for ETP Holders that do not 6(b)(5) of the Act,7 which requires,
Commission is publishing this notice to
meet the new liquidity-adding volume among other things, that the rules of a
solicit comments on the proposed rule
threshold. national securities exchange not permit
change from interested persons.
Currently, the Exchange charges ETP unfair discrimination between
I. Self-Regulatory Organization’s Holders $0.0003 per share executed for customers, issuers, brokers, or dealers,
Statement of the Terms of Substance of liquidity-taking orders in symbols and be designed to promote just and
the Proposed Rule Change priced at $1.00 or greater. The Exchange equitable principles of trade, to remove
The Exchange is proposing to amend proposes to amend its fee schedule to impediments to and perfect the
add language in the Transaction Fees
mstockstill on DSK3G9T082PROD with NOTICES
its Fee and Rebate Schedule (the ‘‘Fee mechanism of a free and open market
Schedule’’), issued pursuant to and Rebates section of the Fee Schedule and a national market system.
Exchange Rule 16.1, to: (1) Create a The Exchange submits that the
3 Exchange Rule 1.5E(1) defines ‘‘ETP’’ as the
monthly, liquidity-adding volume Equity Trading Permit issued by the Exchange for
proposed liquidity-adding volume
effecting approved securities transactions on the
11 17 CFR 200.30–3(a)(12). 5 15 U.S.C. 78f(b).
Exchange’s trading facilities.
1 15 U.S.C. 78s(b)(1). 4 Exchange Rule 1.5N(1) defines ‘‘NSX Book’’ as 6 15 U.S.C. 78f(b)(4).
2 17 CFR 240.19b–4. the trading systems’ electronic file of orders. 7 15 U.S.C. 78f(b)(5).
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![Federal Register / Vol. 81, No. 190 / Friday, September 30, 2016 / Notices 67413
threshold and associated fee are all ETP Holders executing orders on the Commission summarily may
reasonable and equitable, as required by Exchange will have the same temporarily suspend such rule change if
Section 6(b)(4) of the Act. The Exchange opportunity to qualify for the lower it appears to the Commission that such
believes that the volume thresholds are priced fee tier through their trading action is necessary or appropriate in the
reasonable because they have been set at activity adding liquidity on the public interest, for the protection of
achievable levels that will incentivize Exchange, and such changes are thereby investors, or otherwise in furtherance of
ETP Holders trading on the Exchange to designed to meet the requirements of the purposes of the Act.
add a greater amount of liquidity to the the Section 6(b)(5) that the rules of the IV. Solicitation of Comments
Exchange. This will result in greater Exchange not permit unfair
price discovery and price improvement discrimination among ETP Holders and Interested persons are invited to
for ETP Holders and market their customers. The Exchange notes submit written data, views and
participants. Further, the proposed that, at present, approximately a dozen arguments concerning the foregoing,
‘‘taker’’ fee of $0.0030 per share for ETP Holders would meet the volume including whether the proposed rule
securities priced $1.00 or greater is threshold of 50,000 shares of liquidity- change is consistent with the Act.
reasonable because it is within the range adding volume to qualify for the current Comments may be submitted by any of
of fees that other exchanges charge per taker fee of $0.0003 per executed share. the following methods:
executed share for orders removing The Exchange submits that the Electronic Comments
liquidity in securities priced $1.00 or proposal will promote just and equitable
greater.8 principles of trade by providing a • Use the Commission’s Internet
The liquidity-adding volume comment form (http://www.sec.gov/
reasonable and attainable volume
threshold is equitable because each ETP rules/sro.shtml); or
threshold that will potentially attract
• Send an email to rule-comments@
Holder has the same opportunity to post more displayed volume on the sec.gov. Please include File Number SR–
liquidity on the Exchange totaling Exchange. Incentivizing ETP Holders to NSX–2016–11 on the subject line.
50,000 shares in order to continue to add more liquidity on the Exchange
pay the current $0.0003 per share would inure to the benefit of all market Paper Comments
‘‘taker’’ fee, as opposed to the new, participants seeking additional • Send paper comments in triplicate
higher taker fee. Thus, the Fee Schedule execution opportunities. In this regard, to Secretary, Securities and Exchange
provides for an equitable program the proposed Fee Schedule will promote Commission, 100 F Street NE.,
which, the Exchange believes, will just and equitable principles of trade Washington, DC 20549–1090.
operate to encourage increased quoting and operate to remove impediments to All submissions should refer to File
and trading by ETP Holders on the and perfect the mechanism of a free and Number SR–NSX–2016–11. This file
Exchange. The Exchange notes that in open market and a national market number should be included on the
the past it has offered, as a part of its system under Section 6(b)(5). subject line if email is used. To help the
Fee Schedule, a similar minimum, Commission process and review your
liquidity-adding volume threshold to B. Self-Regulatory Organization’s
Statement on Burden on Competition comments more efficiently, please use
qualify for a more advantageous ‘‘taker’’ only one method. The Commission will
fee.9 The Exchange does not believe that post all comments on the Commission’s
The Exchange further submits that its the proposed rule change will impose Internet Web site (http://www.sec.gov/
proposal that ETP Holders must attain at any burden on competition that is not rules/sro.shtml). Copies of the
least 50,000 shares of executed necessary or appropriate in furtherance submission, all subsequent
liquidity-adding volume in a calendar of the purposes of the Exchange Act. amendments, all written statements
month to benefit from the lower ‘‘take’’ The proposed changes will enhance with respect to the proposed rule
fee of $0.0003 satisfies the requirements rather than burden competition by change that are filed with the
of Section 6(b)(5) of the Act in that it operating to incentivize increased Commission, and all written
does not permit unfair discrimination liquidity and improve execution quality communications relating to the
between customers, issuers, brokers, or on the Exchange through reasonable and proposed rule change between the
dealers, is designed to promote just and equitably allocated economic Commission and any person, other than
equitable principles of trade, to remove incentives. those that may be withheld from the
impediments to and perfect the public in accordance with the
C. Self-Regulatory Organization’s
mechanism of a free and open market provisions of 5 U.S.C. 552, will be
Statement on Comments on the
and a national market system. Under the available for Web site viewing and
Proposed Rule Change Received From
proposed changes to the Fee Schedule, printing in the Commission’s Public
Members, Participants, or Others
8 See, e.g., Bats BZX Exchange, Inc. (‘‘BZX’’) Fee The Exchange has neither solicited Reference Room, 100 F Street NE.,
Schedule and the Fee Schedule of the Chicago nor received written comments on the Washington, DC 20549, on official
Stock Exchange, Inc. (‘‘CHX’’). As of September proposed rule change. business days between the hours of
2016, both BZX and CHX charge a fee of $0.0030 10:00 a.m. and 3:00 p.m. Copies of the
per executed share for orders removing liquidity in III. Date of Effectiveness of the filing also will be available for
securities priced $1.00 or greater.
9 The Exchange has utilized a similar program as
Proposed Rule Change and Timing for inspection and copying at the principal
a part of its Fee Schedule in the past. That program Commission Action office of the Exchange. All comments
provided that ‘‘[e]ach ETP Holder will be charged The proposed rule change has taken received will be posted without change;
$0.0030 per share for any marketable order that the Commission does not edit personal
mstockstill on DSK3G9T082PROD with NOTICES
removes liquidity unless the ETP Holder executes
effect upon filing pursuant to Section
at least 50,000 shares of liquidity-adding volume in 19(b)(3)(A)(ii) of the Act 10 and identifying information from
Auto-Ex Mode per month.’’ See Securities Exchange subparagraph (f)(2) of Rule 19b–4.11 submissions. You should submit only
Act Release No. 67816 (September 10, 2012), 77 FR At any time within 60 days of the information that you wish to make
56886 (September 14, 2012) SR–NSX–2012–14). available publicly. All submissions
The Exchange notes that, when this program was
filing of such proposed rule change, the
previously in effect, the majority of ETP Holders
should refer to File Number SR–NSX–
trading on the Exchange qualified for the lower fee 10 15 U.S.C. 78s(b)(3)(A)(ii). 2016–11 and should be submitted on or
tier. 11 17 CFR 240.19b–4. before October 21, 2016.
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![67414 Federal Register / Vol. 81, No. 190 / Friday, September 30, 2016 / Notices
For the Commission, by the Division of SUPPLEMENTARY INFORMATION: Section will continue to charge fees calculated
Trading and Markets, pursuant to delegated 1106 of the Act and the Privacy Act 3 on a case-by-case basis to recover our
authority.12 authorize the Commissioner of Social full cost of supplying the information.
Brent J. Fields, Security to promulgate regulations
Additional Information
Secretary. regarding agency records and
[FR Doc. 2016–23610 Filed 9–29–16; 8:45 am] information and to charge fees for Additional information is available on
BILLING CODE 8011–01–P providing information and related our Web site at http://socialsecurity.gov/
services. Our regulations and operating pgm/business.htm or by written request
instructions identify when we will to: Social Security Administration,
charge fees for information.4 Whenever Office of Public Inquiries, Windsor Park
SOCIAL SECURITY ADMINISTRATION we determine a request for information Building, 6401 Security Boulevard,
is for any purpose not directly related to Baltimore, MD 21235.
[Docket No. SSA–2016–0046] the administration of the Social Security
Carolyn W. Colvin,
programs, we require the requester to
Charging Standard Administrative Acting Commissioner of Social Security.
pay the full cost of providing the
Fees for Non-Program Information [FR Doc. 2016–23741 Filed 9–29–16; 8:45 am]
information.
Requests for Detailed Social Security New Information: Based on the most BILLING CODE 4191–02–P
Earnings recent cost analysis, we determined the
AGENCY: Social Security Administration. new standard fee for detailed yearly
Social Security Earnings information is SOCIAL SECURITY ADMINISTRATION
ACTION:Notice of updated schedule of
standardized administrative fees. $115 for each request. We will certify [Docket No. SSA–2016–0045]
the detailed earnings information for an
SUMMARY: On November 8, 2013,1 we additional $33. Note: Certification is Charging Standard Administrative
announced in the Federal Register a usually not necessary. We based this Fees for Non-Program Information
new administrative fee we charge to the updated standard fee on our most recent
cost calculations for supplying this AGENCY: Social Security Administration.
public for detailed yearly Social
information and the standard fee ACTION:Notice of updated schedule of
Security earnings information. We
methodology previously published in standardized administrative fees.
charge administrative fees to recover our
full costs when we provide information the Federal Register. A requester can SUMMARY: On August 22, 2012,1 we
and related services for non-program obtain certified and non-certified announced in the Federal Register a
purposes. We are announcing an update detailed yearly Social Security earnings schedule of standardized administrative
to the previously published fee ($136) information by completing the Form fees we charge to the public. We charge
for detailed yearly Social Security SSA–7050, Request for Social Security these fees to recover our full costs when
earnings information.2 Earnings Information. A requester can we provide information and related
The updated standard fee schedule is continue to obtain non-certified, yearly services for non-program purposes. We
part of our continuing effort to earnings totals (Form SSA–7004, are announcing an update to the
standardize fees for non-program Request for a Social Security Statement) previously published schedule of
information requests. We reserve the through our free online service my standardized administrative fees.2
right to review and update the Social Security, http:// The updated standard fee schedule is
published standard fees as necessary, socialsecurity.gov/myaccount/, a part of our continuing effort to
but no less than every two years, to personal online account for Social standardize fees for non-program
ensure the agency recovers the full cost Security information and services. information requests. Standard fees
of providing non-program services. Online Social Security Statements provide consistency and ensure we
Standard fees provide consistency and display uncertified, yearly earnings, free recover the full cost of supplying
ensure we recover the full cost of of charge, and do not show any information when we receive a request
supplying information when we receive employer information. Certified yearly for a purpose not directly related to the
a request for a purpose not directly Social Security earnings totals cost $33, administration of a program under the
related to the administration of a available by completing Form SSA– Social Security Act (Act).
program under the Social Security Act 7050.
DATES: The changes described in this
(Act). We will continue to evaluate all
standard fees at least every two years to notice are effective for requests we
DATES: The changes described in this receive on or after October 1, 2016.
ensure we capture the full costs
notice are effective for requests we associated with providing information FOR FURTHER INFORMATION CONTACT:
receive on or after October 1, 2016. for non-program purposes. We require Kristina Poist, Social Security
FOR FURTHER INFORMATION CONTACT: nonrefundable advance payment of the Administration, Office of Finance, 6401
Kristina Poist, Social Security standard fee by check, money order, or Security Boulevard, Baltimore, MD
Administration, Office of Finance, 6401 credit card. We do not accept cash. Only 21235–6401, (410) 597–1977. For
Security Boulevard, Baltimore, MD one form of payment is acceptable in the information on eligibility or filing for
21235–6401, (410) 597–1977. For full amount of the standard fee. If we benefits, visit our Internet site, Social
information on eligibility or filing for revise any of the standard fees, we will Security Online, at http://
benefits, call our national toll-free publish another notice in the Federal socialsecurity.gov, or call our national
mstockstill on DSK3G9T082PROD with NOTICES
number, 1–800–772–1213 or TTY 1– Register. For other non-program toll-free number, 1–800–772–1213 or
800–325–0778, or visit our Internet site, requests for information not addressed TTY 1–800–325–0778.
Social Security Online, at http:// here or within the current schedule of SUPPLEMENTARY INFORMATION: Section
socialsecurity.gov. standardized administrative fees, we 1106 of the Act and the Privacy Act 3
12 17 CFR 200.30–3(a)(12). 3 42 1 77 FR 50757, Aug. 22, 2012.
U.S.C. 1306 and 5 U.S.C. 552a, respectively.
1 78 FR 67210, November 8, 2013. 4 See 2 79 FR 59341, October 1, 2014.
20 CFR 402.170, 402.175; Program
2 79 FR 66445, November 7, 2014. Operations Manual System (POMS) GN 03311.005. 3 42 U.S.C. 1306 and 5 U.S.C. 552a, respectively.
VerDate Sep<11>2014 20:49 Sep 29, 2016 Jkt 238001 PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 E:\FR\FM\30SEN1.SGM 30SEN1](https://thefederalregister.org/doc/81_FR_67602/page/3.svg)
Document Created: 2018-02-09 13:34:10
Document Modified: 2018-02-09 13:34:10
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| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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