81 FR 69090 - Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 519C, Mass Cancellation of Trading Interest
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 193 (October 5, 2016)
Federal Register Volume 81, Issue 193 (October 5, 2016)
| Page Range | 69090-69092 | |
| FR Document | 2016-23997 |
[Federal Register Volume 81, Number 193 (Wednesday, October 5, 2016)] [Notices] [Pages 69090-69092] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-23997] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78974; File No. SR-MIAX-2016-34] Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 519C, Mass Cancellation of Trading Interest September 29, 2016. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on September 22, 2016, Miami International Securities Exchange LLC (``MIAX'' or ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') a 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange is filing a proposal to amend Exchange Rule 519C, Mass Cancellation of Trading Interest. The text of the proposed rule change is available on the Exchange's Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at MIAX's principal office, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Rule 519C, Mass Cancellation of Trading Interest, to adopt new section (b) to provide that Exchange staff, upon request from a Member,\4\ may remove all quotations \5\ and cancel all orders \6\ in the System \7\ and block new incoming quotations and orders from entering the System. The block will remain in effect until the Member contacts Exchange staff \8\ to have the block removed. The Exchange is also proposing to make technical amendments to the Rule as described below. --------------------------------------------------------------------------- \4\ The term ``Member'' means an individual or organization approved to exercise trading rights associated with a Trading Permit. Members are deemed ``members'' under the Act. See Exchange Rule 100. \5\ The term ``quotation'' or ``quote'' means a bid or offer entered by a Market Maker that is firm and may update the Market Maker's previous quote, if any. The Rules of the Exchange provide for the use of different types of quotes, including Standard quotes and eQuotes, as more fully described in Exchange Rule 517. A Market Maker may, at times, choose to have multiple types of quotes active in an individual option. See Exchange Rule 100. \6\ The term ``order'' means a firm commitment to buy or sell option contracts. See Exchange Rule 100. \7\ The term ``System'' means the automated trading system used by the Exchange for the trading of securities. See Exchange Rule 100. \8\ The Exchange's Help Desk would receive such communication. The Help Desk is the Exchange's control room consisting of Exchange staff authorized to make certain trading determinations on behalf of the Exchange. The Help Desk shall report to and be supervised by a senior executive officer of the Exchange. See Exchange Rule 100. --------------------------------------------------------------------------- The proposal would allow a Member to submit a request to remove all of its outstanding quotations and cancel all of its open orders and block all new inbound quotations and orders by firm name or Market Participant Identifier (``MPID''). The form of such requests includes, but is not limited to, email or a phone call from authorized individuals. The removal of quotes and the cancellation of orders as described herein does not disconnect Members from the Exchange's System. The Exchange is also proposing to make technical amendments to Exchange Rule 519C. The Exchange proposes to add a new heading entitled ``Cancel'' to the first paragraph, and also proposes to identify the first paragraph with the letter ``(a)'' for clarity and ease of reference. Additionally, the Exchange proposes to make a clarifying change to the wording of the first paragraph. The paragraph currently states that, ``[a] Member may cancel all of its quotations and/or all or any subset of its orders [. . .].'' The Exchange proposes to replace the word ``cancel'' with ``remove'' and to insert the word ``cancel'' after ``and/or,'' as this language more accurately describes the actions being performed by the Exchange. Further, this language is consistent with the rule text of another exchange that offers similar functionality.\9\ Additionally, the Exchange is proposing to insert language indicating that a Member may effect the removal of its quotations and/or the cancellation of its orders, ``by firm name or by Market Participant Identifier (``MPID'')''. --------------------------------------------------------------------------- \9\ See BOX Options Exchange LLC (``BOX''), Rule 7280. --------------------------------------------------------------------------- The purpose of the proposed rule change is to add an additional risk control mechanism for Members. The Exchange has a number of other rules covering risk management processes available to Members and it believes this capability will provide Members with an additional risk management tool and enhance transparency in the Exchange's rules. Additionally, the proposed technical change to the rule adds greater clarity and precision to the rule text. 2. Statutory Basis MIAX believes that its proposed rule change is consistent with Section 6(b) of the Act \10\ in general, and furthers the objectives of Section 6(b)(5) of the Act \11\ in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, to remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78f(b). \11\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The proposed rule adds another risk protection tool for Members and [[Page 69091]] provides that the Exchange may take action on their behalf. The proposed rule protects investors and the public interest by increasing the number of risk protection tools available to Members on the Exchange. The Exchange notes that a similar rule is currently operative on another exchange.\12\ --------------------------------------------------------------------------- \12\ See supra note 9. --------------------------------------------------------------------------- The technical amendments organize the rule text and clarify the actions being performed by the Exchange and are intended to remove impediments to and perfect the mechanisms of a free and open market by adding precision and ease of reference to the Exchange's rules, thus promoting transparency and clarity for Exchange Members. Additionally, harmonizing the language in the rule text to that of another exchange that offers similar functionality will minimize any confusion regarding the actions being performed by the Exchange under the proposed rule. The Exchange notes that the proposed rule change will not relieve Exchange Market Makers of their continuous quoting obligations under Exchange Rule 604 and under Reg NMS Rule 602.\13\ Specifically, any interest that is executable against a Member's quotes and orders that is received by the Exchange prior to the time the removal of quotes or cancellation of orders request is received by the System will automatically execute at the price up to the Member's size. Market Makers that request their quotes be removed will not be relieved of the obligation to provide continuous two-sided quotes on a daily basis, nor will it prohibit the Exchange from taking disciplinary action against a Market Maker for failing to meet their continuous quoting obligation each trading day. --------------------------------------------------------------------------- \13\ 17 CFR 242.602. --------------------------------------------------------------------------- The proposed rule change is intended to remove impediments to and perfect the mechanisms of a free and open market by introducing additional risk protection tools for Exchange Members and by adding precision and ease of reference to the Exchange's rules, thus promoting transparency and clarity for Exchange Members. 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 Act. The Exchange believes the proposed rule change will not impose any burden on intra-market competition because every Member of the Exchange has the opportunity to benefit from the procedure described in the proposed rule. The proposed rule is meant to provide all Members with the same protection in the event the Member is experiencing an issue that would require the Member to withdraw its quotations and cancel its orders from the market and prevent new quotations and orders from being received in order to ensure a fair and orderly market on the Exchange. The Exchange believes the proposed rule change will not impose any burden on inter-market competition because the process of cancellation of quotations and orders on the Exchange is substantially similar to processes currently operative on other exchanges.\14\ --------------------------------------------------------------------------- \14\ See supra note 9. --------------------------------------------------------------------------- For all the reasons stated, the Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days after the date of the filing, or such shorter time as the Commission may designate, it has become effective pursuant to 19(b)(3)(A) of the Act \15\ and Rule 19b-4(f)(6) \16\ thereunder. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A). \16\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule should be approved or disapproved. 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-MIAX-2016-34 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File Number SR-MIAX-2016-34. 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-MIAX-2016-34 and should be submitted on or before October 26, 2016. [[Page 69092]] For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\17\ --------------------------------------------------------------------------- \17\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-23997 Filed 10-4-16; 8:45 am] BILLING CODE 8011-01-P
![69090 Federal Register / Vol. 81, No. 193 / Wednesday, October 5, 2016 / Notices
II. Docketed Proceeding(s) II. Self-Regulatory Organization’s the cancellation of orders as described
Statement of the Purpose of, and herein does not disconnect Members
1. Docket No(s).: CP2016–99; Filing Statutory Basis for, the Proposed Rule from the Exchange’s System.
Title: Notice of the United States Postal Change The Exchange is also proposing to
Service of Filing Modification to Global make technical amendments to
Expedited Package Services 3 In its filing with the Commission, the
Exchange included statements Exchange Rule 519C. The Exchange
Negotiated Service Agreement; Filing proposes to add a new heading entitled
concerning the purpose of and basis for
Acceptance Date: September 28, 2016; ‘‘Cancel’’ to the first paragraph, and also
the proposed rule change and discussed
Filing Authority: 39 CFR 3015.5; Public proposes to identify the first paragraph
any comments it received on the
Representative: Kenneth R. Moeller; with the letter ‘‘(a)’’ for clarity and ease
proposed rule change. The text of these
Comments Due: October 6, 2016. of reference. Additionally, the Exchange
statements may be examined at the
This notice will be published in the places specified in Item IV below. The proposes to make a clarifying change to
Federal Register. Exchange has prepared summaries, set the wording of the first paragraph. The
forth in sections A, B, and C below, of paragraph currently states that, ‘‘[a]
Ruth Ann Abrams, Member may cancel all of its quotations
the most significant aspects of such
Acting Secretary. and/or all or any subset of its orders
statements.
[FR Doc. 2016–24017 Filed 10–4–16; 8:45 am] [. . .].’’ The Exchange proposes to
BILLING CODE 7710–FW–P A. Self-Regulatory Organization’s replace the word ‘‘cancel’’ with
Statement of the Purpose of, and the ‘‘remove’’ and to insert the word
Statutory Basis for, the Proposed Rule ‘‘cancel’’ after ‘‘and/or,’’ as this language
Change more accurately describes the actions
SECURITIES AND EXCHANGE 1. Purpose being performed by the Exchange.
COMMISSION Further, this language is consistent with
The Exchange proposes to amend
the rule text of another exchange that
Rule 519C, Mass Cancellation of
[Release No. 34–78974; File No. SR–MIAX– offers similar functionality.9
Trading Interest, to adopt new section
2016–34] Additionally, the Exchange is proposing
(b) to provide that Exchange staff, upon
to insert language indicating that a
Self-Regulatory Organizations; Miami request from a Member,4 may remove all
Member may effect the removal of its
International Securities Exchange LLC; quotations 5 and cancel all orders 6 in
the System 7 and block new incoming quotations and/or the cancellation of its
Notice of Filing and Immediate orders, ‘‘by firm name or by Market
Effectiveness of a Proposed Rule quotations and orders from entering the
System. The block will remain in effect Participant Identifier (‘‘MPID’’)’’.
Change To Amend Exchange Rule The purpose of the proposed rule
519C, Mass Cancellation of Trading until the Member contacts Exchange
change is to add an additional risk
Interest staff 8 to have the block removed. The
control mechanism for Members. The
Exchange is also proposing to make
technical amendments to the Rule as Exchange has a number of other rules
September 29, 2016.
described below. covering risk management processes
Pursuant to Section 19(b)(1) 1 of the available to Members and it believes
The proposal would allow a Member
Securities Exchange Act of 1934 to submit a request to remove all of its this capability will provide Members
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3 outstanding quotations and cancel all of with an additional risk management tool
notice is hereby given that, on its open orders and block all new and enhance transparency in the
September 22, 2016, Miami inbound quotations and orders by firm Exchange’s rules. Additionally, the
International Securities Exchange LLC name or Market Participant Identifier proposed technical change to the rule
(‘‘MIAX’’ or ‘‘Exchange’’) filed with the (‘‘MPID’’). The form of such requests adds greater clarity and precision to the
Securities and Exchange Commission includes, but is not limited to, email or rule text.
(‘‘Commission’’) a proposed rule change a phone call from authorized
as described in Items I, II, and III below, 2. Statutory Basis
individuals. The removal of quotes and
which Items have been prepared by the MIAX believes that its proposed rule
Exchange. The Commission is 4 The term ‘‘Member’’ means an individual or change is consistent with Section 6(b) of
publishing this notice to solicit organization approved to exercise trading rights the Act 10 in general, and furthers the
comments on the proposed rule change associated with a Trading Permit. Members are objectives of Section 6(b)(5) of the Act 11
from interested persons. deemed ‘‘members’’ under the Act. See Exchange in particular, in that it is designed to
Rule 100.
5 The term ‘‘quotation’’ or ‘‘quote’’ means a bid or prevent fraudulent and manipulative
I. Self-Regulatory Organization’s
offer entered by a Market Maker that is firm and acts and practices, to promote just and
Statement of the Terms of Substance of may update the Market Maker’s previous quote, if equitable principles of trade, to foster
the Proposed Rule Change any. The Rules of the Exchange provide for the use cooperation and coordination with
of different types of quotes, including Standard
The Exchange is filing a proposal to quotes and eQuotes, as more fully described in persons engaged in facilitating
amend Exchange Rule 519C, Mass Exchange Rule 517. A Market Maker may, at times, transactions in securities, to remove
Cancellation of Trading Interest. choose to have multiple types of quotes active in impediments to and perfect the
an individual option. See Exchange Rule 100. mechanisms of a free and open market
The text of the proposed rule change 6 The term ‘‘order’’ means a firm commitment to
and a national market system and, in
buy or sell option contracts. See Exchange Rule 100.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
is available on the Exchange’s Web site general, to protect investors and the
7 The term ‘‘System’’ means the automated
at http://www.miaxoptions.com/filter/ public interest.
trading system used by the Exchange for the trading
wotitle/rule_filing, at MIAX’s principal of securities. See Exchange Rule 100. The proposed rule adds another risk
office, and at the Commission’s Public 8 The Exchange’s Help Desk would receive such
protection tool for Members and
Reference Room. communication. The Help Desk is the Exchange’s
control room consisting of Exchange staff
9 See BOX Options Exchange LLC (‘‘BOX’’), Rule
authorized to make certain trading determinations
1 15 U.S.C. 78s(b)(1). 7280.
on behalf of the Exchange. The Help Desk shall
2 15 U.S.C. 78a. 10 15 U.S.C. 78f(b).
report to and be supervised by a senior executive
3 17 CFR 240.19b–4. officer of the Exchange. See Exchange Rule 100. 11 15 U.S.C. 78f(b)(5).
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![69092 Federal Register / Vol. 81, No. 193 / Wednesday, October 5, 2016 / Notices
For the Commission, by the Division of received no comments on the proposed difficult to efficiently trade and
Trading and Markets, pursuant to delegated rule changes, as amended. This order potentially less attractive to certain
authority.17 approves the proposed rule changes, as investors.9 Accordingly, the ICE Board
Robert W. Errett, modified by Amendment No. 2. approved pursuing a 5-for-1 stock split
Deputy Secretary. by way of a stock dividend, pursuant to
II. Description of the Proposed Rule
[FR Doc. 2016–23997 Filed 10–4–16; 8:45 am] which the holders of record of shares of
Change
BILLING CODE 8011–01–P Common Stock would receive, by way
The Exchanges propose to revise the of a dividend, four shares of Common
ICE Certificate 6 to increase the total Stock for each share of Common Stock
SECURITIES AND EXCHANGE number of authorized shares of ICE held by such holder (‘‘Stock Dividend’’).
COMMISSION common stock, par value $0.01 per The Exchanges state that the ICE Board’s
share (‘‘Common Stock’’), and to make approval of the Stock Dividend was
[Release No. 34–78992; File Nos. SR–NYSE–
2016–57; SR–NYSEMKT–2016–80; SR–
other, non-substantive changes. More contingent upon Commission and ICE
NYSEArca–2016–119] specifically, the Exchanges propose to stockholder approval of the proposed
make the following amendments to the amendments to the ICE Certificate.
Self-Regulatory Organizations; New ICE Certificate: Further, the Exchanges state that the
York Stock Exchange LLC; NYSE MKT • In Article IV, Section A, the total number of shares of Common Stock
LLC; NYSE Arca, Inc.; Order Approving number of shares of stock that ICE is proposed to be issued in the Stock
Proposed Rule Change, as Modified by authorized to issue would be changed Dividend exceeds ICE’s authorized but
Amendment No. 2 Thereto, Amending from 600,000,000 to 1,600,000,000 unissued shares of Common Stock. The
and Restating the Second Amended shares, and the portion of that total proposed rule changes would increase
and Restated Certificate of constituting Common Stock would be ICE’s authorized shares of Common
Incorporation of the Exchanges’ changed from 500,000,000 to Stock and shares of capital stock to
Ultimate Parent Company, 1,500,000,000 shares. allow ICE to effectuate the Stock
Intercontinental Exchange, Inc. • In Article V, Section A.5, the Dividend.
reference to ‘‘this Section A of ARTICLE According to the Exchanges, the
September 29, 2016. VI’’ would be corrected to refer to ‘‘this proposed changes to the ICE Certificate
I. Introduction Section A of ARTICLE V’’. would not alter the limitations on voting
• References to the ‘‘Second and ownership set forth in Section V of
On August 17, 2016, each of New Amended and Restated Certificate of the ICE Certificate.10 Such limitations
York Stock Exchange LLC (‘‘NYSE’’), Incorporation’’ would be changed were introduced at the time of ICE’s
NYSE MKT LLC (‘‘NYSE MKT’’), and throughout to refer to the ‘‘Third acquisition of the Exchanges, to
NYSE Arca, Inc. (‘‘NYSE Arca’’ and, Amended and Restated Certificate of ‘‘minimize the potential that a person
with NYSE and NYSE MKT, the Incorporation,’’ and related technical could improperly interfere with or
‘‘Exchanges’’) filed with the Securities and conforming changes would be made restrict the ability of the Commission,
and Exchange Commission to the recitals and signature page of the the Exchange, or its subsidiaries to
(‘‘Commission’’), pursuant to Section ICE Certificate. effectively carry out their regulatory
19(b)(1) of the Securities Exchange Act The Exchanges state that the proposed oversight responsibilities under the
of 1934 (‘‘Act’’) 1 and Rule 19b–4 amendments to the ICE Certificate were Act.’’ 11
thereunder,2 a proposed rule change to approved by the board of directors of
amend and restate the Second Amended ICE (‘‘ICE Board’’) on August 1, 2016.7 III. Discussion and Commission
and Restated Certificate of Incorporation The Exchanges further state that the Findings
(‘‘ICE Certificate’’) of the Exchanges’ amendments to the ICE Certificate After careful review, the Commission
ultimate parent company, would be effective when filed with the finds that the proposed rule changes, as
Intercontinental Exchange, Inc. (‘‘ICE’’), Department of State of Delaware, which modified by Amendment No. 2, are
to increase ICE’s authorized share would not occur until approval of the consistent with the Act and the rules
capital and to make other, non- amendments by the stockholders of ICE and regulations thereunder applicable to
substantive changes. The proposed rule is obtained at a Special Meeting of a national securities exchange.12
changes were published for comment in Stockholders on October 12, 2016.8 The Commission finds that the
the Federal Register on August 30, According to the Exchanges, the proposed rule changes by the Exchanges
2016.3 On August 25, 2016, the trading price of ICE’s Common Stock to modify the ICE Certificate are
Exchanges each filed Amendment No. 1 has risen significantly since ICE’s initial consistent with the requirements of
to its respective proposed rule change.4 public offering in 2005, and the ICE Section 6 of the Act and the rules and
On August 29, 2016, the Exchanges each Board believes that such price regulations thereunder applicable to a
filed Amendment No. 2 to its respective appreciation may impact the liquidity of national securities exchange.13 In
proposed rule change.5 The Commission ICE’s Common Stock, making it more
9 See id.
17 17 CFR 200.30–3(a)(12). does not materially alter the substance of the 10 See id.
1 15 U.S.C. 78s(b)(1).
proposed rule changes or raise unique or novel 11 See Securities Exchange Act Release No. 70210
2 17 CFR 240.19b–4. regulatory issues, Amendment No. 2 is not subject (August 15, 2013), 78 FR 51758 (August 21, 2013)
3 See Securities Exchange Act Release Nos. 78661 to notice and comment. (SR–NYSE–2013–42; SR–NYSEMKT–2013–50; and
asabaliauskas on DSK3SPTVN1PROD with NOTICES
(August 24, 2016), 81 FR 59699 (August 30, 2016) 6 ICE owns 100% of the equity interest of SR–NYSEArca–2013–62), at 51760.
(‘‘NYSE Notice’’); 78663 (August 24, 2016), 81 FR Intercontinental Exchange Holdings, Inc., which in 12 In approving the proposed rule changes, the
59696 (August 30, 2016); and 78662 (August 24, turn owns 100% of the equity interest of NYSE Commission has considered their impact on
2016), 81 FR 59674 (August 30, 2016). Holdings LLC. NYSE Holdings LLC owns 100% of efficiency, competition, and capital formation. See
4 On August 26, 2016, the Exchanges withdrew the equity interest of NYSE Group, Inc., which in 15 U.S.C. 78c(f).
Amendment No. 1. turn directly owns 100% of the equity interest of 13 Certain provisions of the ICE Certificate are
5 Amendment No. 2 made technical, non- each Exchange. ICE is a publicly traded company considered rules of NYSE, NYSE MKT, and NYSE
substantive changes to the ICE Certificate to remove listed on the NYSE. Arca if they are stated policies, practices, or
7 See, e.g., NYSE Notice, supra note 3.
unnecessary underlining and to italicize a comma. interpretations, as defined in Rule 19b–4 under the
Because Amendment No. 2 adds clarification and 8 See id. Act, of NYSE, NYSE MKT, and NYSE Arca, and
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Document Created: 2016-10-05 03:29:12
Document Modified: 2016-10-05 03:29:12
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 69090 |
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