81_FR_67602 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

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)

Page Range67412-67414
FR Document2016-23610

Federal Register, Volume 81 Issue 190 (Friday, September 30, 2016) 
[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]


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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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange 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.
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    \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.
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    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.
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    \4\ Exchange Rule 1.5N(1) defines ``NSX Book'' as the trading 
systems' electronic file of orders.
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    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.
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    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).
    \7\ 15 U.S.C. 78f(b)(5).
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    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\
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    \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.
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    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\
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    \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.
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    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\
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    \10\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \11\ 17 CFR 240.19b-4.
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    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 Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-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\
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    \12\ 17 CFR 200.30-3(a)(12).
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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). VerDate Sep<11>2014 20:49 Sep 29, 2016 Jkt 238001 PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 E:\FR\FM\30SEN1.SGM 30SEN1

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. VerDate Sep<11>2014 20:49 Sep 29, 2016 Jkt 238001 PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 E:\FR\FM\30SEN1.SGM 30SEN1

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


Document Created: 2018-02-09 13:34:10
Document Modified: 2018-02-09 13:34:10
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 67412 
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