81_FR_68274 81 FR 68083 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Withdrawal of a Proposed Change, as Modified by Amendment Nos. 1 and 2, Establishing Fees Relating to End Users and Amending the Definition of “Affiliate,” as Well as Amending the NYSE Price List To Reflect the Changes

81 FR 68083 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Withdrawal of a Proposed Change, as Modified by Amendment Nos. 1 and 2, Establishing Fees Relating to End Users and Amending the Definition of “Affiliate,” as Well as Amending the NYSE Price List To Reflect the Changes

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 191 (October 3, 2016)

Page Range68083-68084
FR Document2016-23754

Federal Register, Volume 81 Issue 191 (Monday, October 3, 2016) 
[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)]
[Notices]
[Pages 68083-68084]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23754]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78953; File No. SR-NYSE-2016-11]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Withdrawal of a Proposed Change, as Modified by Amendment 
Nos. 1 and 2, Establishing Fees Relating to End Users and Amending the 
Definition of ``Affiliate,'' as Well as Amending the NYSE Price List To 
Reflect the Changes

September 27, 2016.
    On April 4, 2016, New York Stock Exchange LLC (the ``Exchange'' or 
``NYSE'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend the co-location section of the NYSE Price 
List to establish fees relating to end users of certain co-location 
Users in the Exchange's data center and to amend the definition of 
``Affiliate.'' The Commission published the proposed rule change for 
comment in the Federal Register on April 22, 2016.\3\ On April 29, 
2016, the Exchange filed Amendment No. 1 to the proposed rule 
change.\4\ The Commission received two comment letters on the proposed 
rule change.\5\ On June 8, 2016, the Commission extended the time 
period within which to approve the proposed rule change, disapprove the 
proposed

[[Page 68084]]

rule change, or institute proceedings to determine whether to approve 
or disapprove the proposed rule change to July 21, 2016.\6\ On June 24, 
2016, the Exchange submitted a Response Letter and filed Amendment No. 
2 to the proposed rule change. \7\ On July 27, 2016, the Commission 
instituted proceedings pursuant to Exchange Act Section 19(b)(2)(B) to 
determine whether to approve or disapprove the proposed rule change, as 
modified by Amendment Nos. 1 and 2.\8\ The Commission received no 
additional comments on the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 34-77642 (April 18, 
2016), 81 FR 23786 (``Notice'').
    \4\ Amendment No. 1 made technical changes relating to the 
General Notes numbering and references in the Co-location section of 
the Price List. Amendment No. 1 is available on the Commission's Web 
site at https://www.sec.gov/comments/sr-nyse-2016-11/nyse201611-1.pdf.
    \5\ See Letter from Michael Friedman, General Counsel and Chief 
Compliance Officer, Trillium, to Brent J. Fields, Secretary, 
Securities and Exchange Commission, dated May 13, 2016 (``Friedman 
Letter''), and Letter from Eero Pikat to Brent J. Fields, Secretary, 
Securities and Exchange Commission, dated, May 13, 2016 (``Pikat 
Letter'') (together, the ``Comment Letters,'').
     In response to the Comment Letters, the NYSE submitted a 
response (``Response Letter'') and filed Amendment No. 2.
    \6\ See Securities Exchange Act Release No. 34-77976 (June 2, 
2016), 81 FR 36981.
    \7\ In Amendment No. 2 the Exchange proposed that Rebroadcasting 
Users and Transmittal Users would not be charged for their first two 
Multicast End Users and Unicast End Users, respectively, and offers 
additional support for the proposal. Amendment No. 2 was noticed in 
the Commission's Order Instituting Proceedings and is also available 
on the Commission's Web site at https://www.sec.gov/comments/sr-nyse-2016-11/nyse201611-4.pdf.
    \8\ See Securities Exchange Act Release No. 34-78387 (July 21, 
2016); 81 FR 49300.
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    On September 22, 2016, the Exchange withdrew the proposed rule 
change, as modified by Amendment Nos. 1 and 2. (SR-NYSE-2016-11).

    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. 2016-23754 Filed 9-30-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices 68083 with the protection of investors and the under Section 19(b)(2)(B) 20 of the Act to For the Commission, by the Division of public interest, it has become effective determine whether the proposed rule Trading and Markets, pursuant to delegated pursuant to Section 19(b)(3)(A) of the change should be approved or authority.21 Act and Rule 19b–4(f)(6) thereunder.16 disapproved. Robert W. Errett, A proposed rule change filed under Deputy Secretary. IV. Solicitation of Comments Rule 19b–4(f)(6) 17 normally does not [FR Doc. 2016–23748 Filed 9–30–16; 8:45 am] become operative prior to 30 days after Interested persons are invited to BILLING CODE 8011–01–P the date of the filing. However, pursuant submit written data, views and to Rule 19b–4(f)(6)(iii),18 the arguments concerning the foregoing, Commission may designate a shorter including whether the proposed rule SECURITIES AND EXCHANGE time if such action is consistent with the change is consistent with the Act. COMMISSION protection of investors and the public Comments may be submitted by any of [Release No. 34–78953; File No. SR–NYSE– interest. The Exchange has asked the the following methods: 2016–11] Commission to waive the 30-day Electronic Comments operative delay to make ARC risk Self-Regulatory Organizations; New management protections immediately • Use the Commission’s Internet York Stock Exchange LLC; Notice of available to all Members. While IEX has comment form (http://www.sec.gov/ Withdrawal of a Proposed Change, as proposed certain clarifying changes to rules/sro.shtml); or Modified by Amendment Nos. 1 and 2, Rule 11.380 that do not materially alter • Send an email to rule-comments@ Establishing Fees Relating to End the scope of the rule, the primary sec.gov. Please include File Number SR– Users and Amending the Definition of material change extends the rule beyond IEX–2016–15 on the subject line. ‘‘Affiliate,’’ as Well as Amending the clearing brokers and makes the ARC Paper Comments NYSE Price List To Reflect the optionally available to any Member. IEX Changes has represented above that, if an IEX • Send paper comments in triplicate to Secretary, Securities and Exchange September 27, 2016. Member elects to use the ARC, IEX will inform that Member if its clearing firm Commission, 100 F Street NE., On April 4, 2016, New York Stock also set ARC limits for the Member, in Washington, DC 20549–1090. Exchange LLC (the ‘‘Exchange’’ or which case IEX would apply the lower All submissions should refer to File ‘‘NYSE’’) filed with the Securities and limit. The Commission believes that Number SR–IEX–2016–15. This file Exchange Commission (‘‘Commission’’), extending the ARC functionality to all number should be included on the pursuant to Section 19(b)(1) of the Members will provide them with an subject line if email is used. To help the Securities Exchange Act of 1934 additional tool that can be used as part Commission process and review your (‘‘Act’’) 1 and Rule 19b-4 thereunder,2 a of a Member’s approach to risk comments more efficiently, please use proposed rule change to amend the co- management, which may promote the only one method. The Commission will location section of the NYSE Price List maintenance of fair and orderly markets. post all comments on the Commission’s to establish fees relating to end users of For this reason, the Commission Internet Web site (http://www.sec.gov/ certain co-location Users in the believes that waiver of the operative rules/sro.shtml). Copies of the Exchange’s data center and to amend delay is consistent with the protection submission, all subsequent the definition of ‘‘Affiliate.’’ The of investors and the public interest. amendments, all written statements Commission published the proposed Accordingly, the Commission hereby with respect to the proposed rule rule change for comment in the Federal waives the operative delay and change that are filed with the Register on April 22, 2016.3 On April designates the proposed rule change Commission, and all written 29, 2016, the Exchange filed operative upon filing.19 communications relating to the Amendment No. 1 to the proposed rule proposed rule change between the change.4 The Commission received two At any time within 60 days of the comment letters on the proposed rule Commission and any person, other than filing of the proposed rule change, the change.5 On June 8, 2016, the those that may be withheld from the Commission summarily may Commission extended the time period public in accordance with the temporarily suspend such rule change if within which to approve the proposed provisions of 5 U.S.C. 552, will be it appears to the Commission that such rule change, disapprove the proposed available for Web site viewing and action is necessary or appropriate in the printing in the Commission’s Public public interest, for the protection of 21 17 CFR 200.30–3(a)(12). Reference Room, 100 F Street NE., investors, or otherwise in furtherance of 1 15 U.S.C. 78s(b)(1). Washington, DC 20549, on official the purposes of the Act. If the 2 17 CFR 240.19b–4. business days between the hours of Commission takes such action, the 3 See Securities Exchange Act Release No. 34– 10:00 a.m. and 3:00 p.m. Copies of the 77642 (April 18, 2016), 81 FR 23786 (‘‘Notice’’). Commission shall institute proceedings filing also will be available for 4 Amendment No. 1 made technical changes 16 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– inspection and copying at the principal relating to the General Notes numbering and office of the Exchange. All comments references in the Co-location section of the Price 4(f)(6) requires a self-regulatory organization to give List. Amendment No. 1 is available on the the Commission written notice of its intent to file received will be posted without change; Commission’s Web site at https://www.sec.gov/ the proposed rule change at least five business days the Commission does not edit personal comments/sr-nyse-2016-11/nyse201611-1.pdf. prior to the date of filing of the proposed rule identifying information from 5 See Letter from Michael Friedman, General change, or such shorter time as designated by the Counsel and Chief Compliance Officer, Trillium, to submissions. You should submit only sradovich on DSK3GMQ082PROD with NOTICES Commission. The Exchange has satisfied this Brent J. Fields, Secretary, Securities and Exchange requirement. information that you wish to make Commission, dated May 13, 2016 (‘‘Friedman 17 17 CFR 240.19b–4(f)(6). available publicly. All submissions Letter’’), and Letter from Eero Pikat to Brent J. 18 17 CFR 240.19b–4(f)(6)(iii). should refer to File Number SR–IEX– Fields, Secretary, Securities and Exchange 19 For purposes only of waiving the 30-day 2016–15 and should be submitted on or Commission, dated, May 13, 2016 (‘‘Pikat Letter’’) operative delay, the Commission has also (together, the ‘‘Comment Letters,’’). before October 24, 2016. considered the proposed rule’s impact on In response to the Comment Letters, the NYSE efficiency, competition, and capital formation. See submitted a response (‘‘Response Letter’’) and filed 15 U.S.C. 78c(f). 20 15 U.S.C. 78s(b)(2)(B). Amendment No. 2. VerDate Sep<11>2014 17:56 Sep 30, 2016 Jkt 241001 PO 00000 Frm 00128 Fmt 4703 Sfmt 4703 E:\FR\FM\03OCN1.SGM 03OCN1

68084 Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices rule change, or institute proceedings to comments on the proposed rule change Service MEI Ports 5 per matching engine determine whether to approve or from interested persons. to which they connect. The Exchange disapprove the proposed rule change to currently assesses the following MEI I. Self-Regulatory Organization’s July 21, 2016.6 On June 24, 2016, the Port fees: (i) $5,000 for Market Maker Statement of the Terms of Substance of Exchange submitted a Response Letter Assignments in up to 5 option classes or the Proposed Rule Change and filed Amendment No. 2 to the up to 10% of option classes by volume; proposed rule change. 7 On July 27, The Exchange is filing a proposal to (ii) $10,000 for Market Maker 2016, the Commission instituted amend the MIAX Options Fee Schedule Assignments in up to 10 option classes proceedings pursuant to Exchange Act (the ‘‘Fee Schedule’’). While changes to or up to 20% of option classes by Section 19(b)(2)(B) to determine the Fee Schedule pursuant to this volume; (iii) $14,000 for Market Maker whether to approve or disapprove the proposal are effective upon filing, the Assignments in up to 40 option classes proposed rule change, as modified by Exchange has designated these changes or up to 35% of option classes by Amendment Nos. 1 and 2.8 The to be operative on October 1, 2016. volume; (iv) $17,500 for Market Maker Commission received no additional The text of the proposed rule change Assignments in up to 100 option classes comments on the proposed rule change. is available on the Exchange’s Web site or up to 50% of option classes by On September 22, 2016, the Exchange at http://www.miaxoptions.com/filter/ volume; and (v) $20,500.00 for Market withdrew the proposed rule change, as wotitle/rule_filing, at MIAX’s principal Maker Assignments in over 100 option modified by Amendment Nos. 1 and 2. office, and at the Commission’s Public classes or over 50% of option classes by (SR–NYSE–2016–11). Reference Room. volume up to all option classes listed on For the Commission, by the Division of MIAX.6 In each of the foregoing II. Self-Regulatory Organization’s categories, the stated fee applies if the Trading and Markets, pursuant to delegated Statement of the Purpose of, and authority.9 less of the two applicable measurements Statutory Basis for, the Proposed Rule is met. For example, a Market Maker Robert W. Errett, Change Deputy Secretary. that wishes to make markets in just one [FR Doc. 2016–23754 Filed 9–30–16; 8:45 am] In its filing with the Commission, the symbol would require the two (2) MEI Exchange included statements Ports in a single matching engine; a BILLING CODE 8011–01–P concerning the purpose of and basis for Market Maker wishing to make markets the proposed rule change and discussed in all symbols traded on MIAX would SECURITIES AND EXCHANGE any comments it received on the require the two (2) MEI Ports in each of COMMISSION proposed rule change. The text of these the Exchange’s matching engines. The statements may be examined at the Exchange also currently charges $50 per [Release No. 34–78950; File No. SR–MIAX– places specified in Item IV below. The month for each additional Limited 2016–33] Exchange has prepared summaries, set Service MEI Port per matching engine forth in sections A, B, and C below, of for Market Makers over and above the Self-Regulatory Organizations; Miami the most significant aspects of such two (2) Limited Service MEI Ports per International Securities Exchange LLC; statements. matching engine that are allocated with Notice of Filing and Immediate the Full Service MEI Ports. The Full Effectiveness of Proposed Rule A. Self-Regulatory Organization’s Service MEI Ports, Limited Service MEI Change To Amend Its Fee Schedule Statement of the Purpose of, and Ports, and the additional Limited Statutory Basis for, the Proposed Rule Service MEI Ports all include access to September 27, 2016. Change MIAX’s primary and secondary data Pursuant to the provisions of Section 19(b)(1) of the Securities Exchange Act 1. Purpose centers and its disaster recovery center. of 1934 (‘‘Act’’) 1 and Rule 19b–4 The Exchange originally added the The Exchange proposes to amend the Limited Service MEI Ports to enhance thereunder,2 notice is hereby given that MIAX Options Fee Schedule (the ‘‘Fee on September 15, 2016, Miami the MEI Port connectivity made Schedule’’) to offer two (2) additional available to Market Makers, and International Securities Exchange LLC Limited Service MIAX Express Interface (‘‘MIAX’’ or ‘‘Exchange’’) filed with the subsequently made additional Limited (‘‘MEI’’) Ports to Market Makers. Service MEI Ports available to Market Securities and Exchange Commission Currently, MIAX assesses monthly (‘‘Commission’’) a proposed rule change Makers.7 Limited Service MEI Ports MEI Port Fees on Market Makers based have been well received by Market as described in Items I, II, and III below, upon the number of MIAX matching which Items have been prepared by the Makers since their addition. The engines 3 used by the Market Maker. Exchange now proposes to offer to Exchange. The Commission is Market Makers are allocated two (2) Full Market Makers the ability to purchase publishing this notice to solicit Service MEI Ports 4 and two (2) Limited an additional two (2) Limited Service 6 See Securities Exchange Act Release No. 34– 3 A ‘‘matching engine’’ is a part of the MIAX MEI Ports per matching engine over and 77976 (June 2, 2016), 81 FR 36981. 7 In Amendment No. 2 the Exchange proposed electronic system that processes options quotes and trades on a symbol-by-symbol basis. Some matching Makers are limited to two Full Service MEI Ports that Rebroadcasting Users and Transmittal Users engines will process option classes with multiple per matching engine. would not be charged for their first two Multicast root symbols, and other matching engines will be 5 Limited Service MEI Ports provide Market End Users and Unicast End Users, respectively, and dedicated to one single option root symbol (for Makers with the ability to send eQuotes and quote offers additional support for the proposal. example, options on SPY will be processed by one purge messages only, but not Market Maker Quotes, Amendment No. 2 was noticed in the Commission’s single matching engine that is dedicated only to to the MIAX System. Limited Service MEI Ports are sradovich on DSK3GMQ082PROD with NOTICES Order Instituting Proceedings and is also available SPY). A particular root symbol may only be also capable of receiving administrative on the Commission’s Web site at https:// assigned to a single designated matching engine. A information. Market Makers initially receive two www.sec.gov/comments/sr-nyse-2016-11/ particular root symbol may not be assigned to Limited Service MEI Ports per matching engine. nyse201611-4.pdf. multiple matching engines. 6 See MIAX Fee Schedule, Section 5)d)ii). 8 See Securities Exchange Act Release No. 34– 4 Full Service MEI Ports provide Market Makers 7 See Securities Exchange Act Release No. 70137 78387 (July 21, 2016); 81 FR 49300. with the ability to send Market Maker quotes, (August 8, 2013), 78 FR 49586 (August 14, 2013) 9 17 CFR 200.30–3(a)(12). eQuotes, and quote purge messages to the MIAX (SR–MIAX–2013–39); see also Exchange Act 1 15 U.S.C. 78s(b)(1). System. Full Service MEI Ports are also capable of Release No. 70903 (November 20, 2013), 78 FR 228 2 17 CFR 240.19b–4. receiving administrative information. Market (November 26, 2013) (SR–MIAX–2013–52). VerDate Sep<11>2014 17:56 Sep 30, 2016 Jkt 241001 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 E:\FR\FM\03OCN1.SGM 03OCN1


Document Created: 2018-02-13 14:11:23
Document Modified: 2018-02-13 14:11:23
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 68083 
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