81 FR 7161 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the AdvisorShares Athena High Dividend ETF's Investments in Sponsored and Unsponsored American Depositary Receipts
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 27 (February 10, 2016)
Federal Register Volume 81, Issue 27 (February 10, 2016)
| Page Range | 7161-7163 | |
| FR Document | 2016-02603 |
[Federal Register Volume 81, Number 27 (Wednesday, February 10, 2016)] [Notices] [Pages 7161-7163] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-02603] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77050; File No. SR-NYSEArca-2016-23] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the AdvisorShares Athena High Dividend ETF's Investments in Sponsored and Unsponsored American Depositary Receipts February 4, 2016. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on January 29, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. 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 the Substance of the Proposed Rule Change The Exchange proposes to change the description of the AdvisorShares Athena High Dividend ETF's investments in sponsored and unsponsored American Depositary Receipts. The Commission has previously approved listing and trading on the Exchange of shares of the AdvisorShares Athena High Dividend ETF, and such shares are currently listed and traded on the Exchange under NYSE Arca Equities Rule 8.600. The proposed rule change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization 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 those 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 Commission has approved listing and trading on the Exchange of shares (``Shares'') of the AdvisorShares Athena High Dividend ETF (the ``Fund'') \4\ under NYSE Arca Equities Rule 8.600, which governs the listing and trading of Managed Fund Shares. The Fund is an actively managed exchange traded fund. The Shares are offered by the AdvisorShares Trust (the ``Trust'').\5\ Shares of the Fund are currently listed and traded on the Exchange under NYSE Arca Equities Rule 8.600. --------------------------------------------------------------------------- \4\ See Securities Exchange Act Release No. 72665 (July 24, 2014), 79 FR 44236 (July 30, 2014) (SR-NYSEArca-2014-59) (order approving listing and trading on the Exchange of Shares of the Fund) (``Prior Order''). See also Securities Exchange Act Release No. 72298 (June 3, 2014), 79 FR 33024 (June 9, 2014) (SR-NYSEArca-2014- 59) (notice of filing of proposed rule change relating to listing and trading on the Exchange of Shares of the Fund (``Prior Notice'', and together with the Prior Order, the ``Prior Release''). \5\ The Trust is registered under the Investment Company Act of 1940 (``1940 Act''). On February 18, 2014, the Trust filed with the Commission an amendment to its registration statement on Form N-1A under the Securities Act of 1933 (``Securities Act'') and the 1940 Act relating to the Fund (File Nos. 333-157876 and 811-22110) (``Registration Statement''). The description of the operation of the Trust and the Fund herein is based, in part, on the Registration Statement. --------------------------------------------------------------------------- The investment adviser to the Fund is AdvisorShares Investments, LLC (the ``Adviser''). AthenaInvest Advisors LLC (``Sub-Adviser'') is the Fund's sub-adviser. As stated in the Prior Release, the Fund's investment objective is to seek long-term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objective by investing substantially all of the Fund's assets in (1) U.S. and foreign common stock of issuers of any capitalization range, and (2) American Depositary Receipts (``ADRs''), Global Depositary Receipts (``GDRs''), European Depositary Receipts (``EDRs'') and International Depository Receipts (``IDRs'', and together with ADRs, GDRs, and EDRs, ``Depositary Receipts'') that provide investment exposure to global equity markets.\6\ The Prior Release stated that, other than unsponsored ADRs, all U.S. and foreign common stocks and Depositary Receipts in which the Fund will invest will be exchange-traded. The Prior Release further stated [[Page 7162]] that ADRs may be sponsored or unsponsored, but unsponsored ADRs will not exceed 10% of the Fund's net assets.\7\ --------------------------------------------------------------------------- \6\ See note 10 of the Prior Notice. \7\ Id. --------------------------------------------------------------------------- In this proposed rule change, the Exchange proposes to change the description of the Fund's investments in sponsored and unsponsored ADRs. Going forward, U.S. and foreign common stocks in which the Fund will invest will be exchange-traded, and non-exchange-traded ADRs will not exceed 10% of the Fund's net assets.\8\ The proposed change, therefore, would include both unsponsored ADRs (which are not exchange- traded) and certain sponsored ADRs that are traded over-the-counter (``OTC'') within the 10% limit to Fund assets that may be invested in non-exchange-traded ADRs. --------------------------------------------------------------------------- \8\ The Adviser and Sub-Adviser represent that the Sub-Adviser will not implement the changes described herein until the instant proposed rule change is operative. --------------------------------------------------------------------------- While sponsored ADRs are usually exchange-traded, certain sponsored ADRs are traded OTC. The Prior Release did not accommodate investments by the Fund in sponsored ADRs that are traded OTC. The proposed change would allow the Fund to invest in both exchange-traded and OTC sponsored ADRs. However, the Fund's investments in unsponsored ADRs and OTC sponsored ADRs will not exceed 10% of the Fund's net assets, in the aggregate. OTC sponsored ADRs will be valued at the last reported sale price from the OTC Bulletin Board or OTC Link LLC on the valuation date. If an OTC sponsored ADR does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. Intra-day and closing price information relating to OTC sponsored ADRs will be available from major market data vendors. In addition, the Prior Release stated that unsponsored ADRs will be valued on the basis of the market closing price on the exchange where the stock of the foreign issuer that underlies the ADR is listed. The Exchange proposes to change this representation to state that unsponsored ADRs will be valued at the last reported sale price from the OTC Bulletin Board or OTC Link LLC on the valuation date. If an unsponsored ADR does not trade on a particular day, then the mean between the last quoted closing bid and asked price will be used. The Sub-Adviser represents that there is no change to the Fund's investment objective. The Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. Except for the changes noted above, all other representations made in the Prior Release remain unchanged. All terms referenced but not defined herein are defined in the Prior Release. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(5) \9\ that an exchange have rules that are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of a free and open market and, in general, to protect investors and the public interest. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule change is designed to prevent fraudulent and manipulative acts and practices in that the Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. The proposed change would include both unsponsored ADRs (which are not exchange-traded) and certain sponsored ADRs that are traded OTC within the 10% limit to Fund assets that may be invested in non-exchange-traded ADRs. The Prior Release did not accommodate investments by the Fund in sponsored ADRs that are traded OTC. The proposed change would provide the Fund with additional flexibility with respect to its investments in sponsored ADRs by allowing the Fund to invest in both exchange-traded and OTC sponsored ADRs. However, the Fund's investments in unsponsored ADRs and OTC sponsored ADRs will not exceed 10% of the Fund's net assets, in the aggregate. The Sub-Adviser represents that there is no change to the Fund's investment objective. The Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. Except for the changes noted above, all other representations made in the Prior Release remain unchanged. The proposed rule change is designed to promote just and equitable principles of trade and to protect investors and the public interest in that the Sub-Adviser represents that there is no change to the Fund's investment objective. As noted above, the Fund's investments in unsponsored ADRs and OTC sponsored ADRs will not exceed 10% of the Fund's net assets, in the aggregate. The proposed rule change is designed to perfect the mechanism of a free and open market and, in general, to protect investors and the public interest in that the Fund will continue to comply with all initial and continued listing requirements under NYSE Arca Equities Rule 8.600. Except for the change noted above, all other representations made in the Rule 19b-4 filing underlying the Prior Release remain unchanged. 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 regarding investments in ADRs will promote competition among actively managed funds that invest in U.S. and foreign common stocks and Depositary Receipts, to the benefit of the investing public. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. 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 from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A). \11\ 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 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. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) \12\ of the Act to [[Page 7163]] determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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-NYSEArca-2016-23 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-NYSEArca-2016-23. 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 such filing also will be available for inspection and copying at the principal offices 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-NYSEArca-2016- 23, and should be submitted on or before March 2, 2016. --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ Robert W. Errett, Deputy Secretary. [FR Doc. 2016-02603 Filed 2-9-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 27 / Wednesday, February 10, 2016 / Notices 7161
Burden per response: 30 minutes. SECURITIES AND EXCHANGE set forth in sections A, B, and C below,
Total average annual burden: 200 COMMISSION of the most significant parts of such
hours. statements.
[Release No. 34–77050; File No. SR–
Request for comments: Comments NYSEArca–2016–23] A. Self-Regulatory Organization’s
submitted in response to this notice will Statement of the Purpose of, and
Self-Regulatory Organizations; NYSE Statutory Basis for, the Proposed Rule
be summarized and/or included in the
Arca, Inc.; Notice of Filing and Change
request for OMB approval. Comments Immediate Effectiveness of Proposed
are invited on: (a) Whether the Rule Change Relating to the 1. Purpose
collection of information is necessary AdvisorShares Athena High Dividend The Commission has approved listing
for the proper performance of the ETF’s Investments in Sponsored and and trading on the Exchange of shares
functions of the agency, including Unsponsored American Depositary (‘‘Shares’’) of the AdvisorShares Athena
whether the information shall have Receipts High Dividend ETF (the ‘‘Fund’’) 4
practical utility; (b) the accuracy of the under NYSE Arca Equities Rule 8.600,
agency’s estimate of the burden of the February 4, 2016.
which governs the listing and trading of
collection of information; (c) ways to Pursuant to Section 19(b)(1) 1 of the
Managed Fund Shares. The Fund is an
enhance the quality, utility, and clarity Securities Exchange Act of 1934 (the
actively managed exchange traded fund.
of the information to be collected; (d) ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
The Shares are offered by the
ways to minimize the burden of the notice is hereby given that, on January
AdvisorShares Trust (the ‘‘Trust’’).5
29, 2016, NYSE Arca, Inc. (the
collection of information on Shares of the Fund are currently listed
‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
respondents, including through the use and traded on the Exchange under
the Securities and Exchange
of automated collection techniques or NYSE Arca Equities Rule 8.600.
Commission (the ‘‘Commission’’) the
other forms of information technology; The investment adviser to the Fund is
proposed rule change as described in
and (e) estimates of capital or start-up AdvisorShares Investments, LLC (the
Items I and II below, which Items have
costs and costs of operation, ‘‘Adviser’’). AthenaInvest Advisors LLC
been prepared by the self-regulatory
maintenance, and purchase of services (‘‘Sub-Adviser’’) is the Fund’s sub-
organization. The Commission is
to provide information. Burden means adviser.
publishing this notice to solicit As stated in the Prior Release, the
the total time, effort, or financial comments on the proposed rule change
resources expended by persons to Fund’s investment objective is to seek
from interested persons. long-term capital appreciation. Under
generate, maintain, retain, disclose or
I. Self-Regulatory Organization’s normal market conditions, the Fund
provide information to or for a Federal
Statement of the Terms of the Substance seeks to achieve its investment objective
agency. This includes the time needed
of the Proposed Rule Change by investing substantially all of the
to review instructions; to develop, Fund’s assets in (1) U.S. and foreign
acquire, install, and utilize technology The Exchange proposes to change the
description of the AdvisorShares common stock of issuers of any
and systems for the purpose of capitalization range, and (2) American
collecting, validating, and verifying Athena High Dividend ETF’s
investments in sponsored and Depositary Receipts (‘‘ADRs’’), Global
information, processing and Depositary Receipts (‘‘GDRs’’), European
maintaining information, and disclosing unsponsored American Depositary
Receipts. The Commission has Depositary Receipts (‘‘EDRs’’) and
and providing information; to train International Depository Receipts
previously approved listing and trading
personnel and to be able to respond to (‘‘IDRs’’, and together with ADRs, GDRs,
on the Exchange of shares of the
a collection of information, to search and EDRs, ‘‘Depositary Receipts’’) that
AdvisorShares Athena High Dividend
data sources, to complete and review provide investment exposure to global
ETF, and such shares are currently
the collection of information; and to listed and traded on the Exchange under equity markets.6 The Prior Release
transmit or otherwise disclose the NYSE Arca Equities Rule 8.600. The stated that, other than unsponsored
information. proposed rule change is available on the ADRs, all U.S. and foreign common
An agency may not conduct or Exchange’s Web site at www.nyse.com, stocks and Depositary Receipts in which
sponsor, and a person is not required to at the principal office of the Exchange, the Fund will invest will be exchange-
respond to, a collection of information and at the Commission’s Public traded. The Prior Release further stated
unless it displays a currently valid OMB Reference Room. 4 See Securities Exchange Act Release No. 72665
control number. II. Self-Regulatory Organization’s (July 24, 2014), 79 FR 44236 (July 30, 2014) (SR–
Statement of the Purpose of, and NYSEArca–2014–59) (order approving listing and
Dominic J. Mancini, trading on the Exchange of Shares of the Fund)
Deputy Administrator, Office of Information Statutory Basis for, the Proposed Rule (‘‘Prior Order’’). See also Securities Exchange Act
and Regulatory Affairs. Change Release No. 72298 (June 3, 2014), 79 FR 33024 (June
9, 2014) (SR–NYSEArca–2014–59) (notice of filing
[FR Doc. 2016–02688 Filed 2–9–16; 8:45 am] In its filing with the Commission, the of proposed rule change relating to listing and
BILLING CODE P self-regulatory organization included trading on the Exchange of Shares of the Fund
statements concerning the purpose of, (‘‘Prior Notice’’, and together with the Prior Order,
and basis for, the proposed rule change the ‘‘Prior Release’’).
asabaliauskas on DSK9F6TC42PROD with NOTICES2
5 The Trust is registered under the Investment
and discussed any comments it received Company Act of 1940 (‘‘1940 Act’’). On February
on the proposed rule change. The text 18, 2014, the Trust filed with the Commission an
of those statements may be examined at amendment to its registration statement on Form N–
the places specified in Item IV below. 1A under the Securities Act of 1933 (‘‘Securities
Act’’) and the 1940 Act relating to the Fund (File
The Exchange has prepared summaries, Nos. 333–157876 and 811–22110) (‘‘Registration
Statement’’). The description of the operation of the
1 15 U.S.C. 78s(b)(1). Trust and the Fund herein is based, in part, on the
2 15 U.S.C. 78a. Registration Statement.
3 17 CFR 240.19b–4. 6 See note 10 of the Prior Notice.
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![Federal Register / Vol. 81, No. 27 / Wednesday, February 10, 2016 / Notices 7163
determine whether the proposed rule For the Commission, by the Division of Exchange has prepared summaries, set
change should be approved or Trading and Markets, pursuant to delegated forth in sections A, B, and C below, of
disapproved. authority.13 the most significant aspects of such
Robert W. Errett, statements.
IV. Solicitation of Comments Deputy Secretary.
A. Self-Regulatory Organization’s
Interested persons are invited to [FR Doc. 2016–02603 Filed 2–9–16; 8:45 am]
Statement of the Purpose of, and
submit written data, views, and BILLING CODE 8011–01–P
Statutory Basis for, the Proposed Rule
arguments concerning the foregoing, Change
including whether the proposed rule
change is consistent with the Act. SECURITIES AND EXCHANGE 1. Purpose
Comments may be submitted by any of COMMISSION The Exchange proposes to amend BX
the following methods: [Release No. 34–77053; File No. SR–BX– Options Rule at Chapter XV, Section 5,
Electronic Comments 2016–007] which is currently reserved, to adopt an
ORF.3
• Use the Commission’s Internet Self-Regulatory Organizations; In order to offset the cost of the
comment form (http://www.sec.gov/ NASDAQ OMX BX, Inc.; Notice of Filing Exchange’s regulatory programs, the
rules/sro.shtml); or and Immediate Effectiveness of Exchange proposes to [sic] an ORF of
• Send an email to rule-comments@ Proposed Rule Change to Adopt an $0.0003 per contract. The ORF would be
sec.gov. Please include File Number SR– Options Regulatory Fee assessed by the Exchange to each BX
NYSEArca–2016–23 on the subject line. February 4, 2016.
Participant for all options transactions
executed or cleared by the BX
Paper Comments Pursuant to Section 19(b)(1) of the
Participant that are cleared by The
Securities Exchange Act of 1934
• Send paper comments in triplicate Options Clearing Corporation (‘‘OCC’’)
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
to Secretary, Securities and Exchange in the Customer range, i.e., transactions
notice is hereby given that on January
Commission, 100 F Street NE., that clear in the Customer account of the
21, 2016, NASDAQ OMX BX, Inc. (‘‘BX’’
Washington, DC 20549–1090. BX Participant’s clearing firm at OCC,
or ‘‘Exchange’’) filed with the Securities
regardless of the marketplace of
All submissions should refer to File and Exchange Commission (‘‘SEC’’ or
execution. The Exchange would impose
Number SR–NYSEArca–2016–23. This ‘‘Commission’’) the proposed rule
the ORF on all options transactions
file number should be included on the change as described in Items I, II, and
executed by a BX Participant, even if the
subject line if email is used. To help the III, below, which Items have been
transactions do not take place on BX.4
Commission process and review your prepared by the Exchange. The
The ORF would also be assessed on
comments more efficiently, please use Commission is publishing this notice to
transactions that are not executed by a
only one method. The Commission will solicit comments on the proposed rule
BX Participants [sic] but are ultimately
post all comments on the Commission’s change from interested persons.
cleared by a BX Participant. For
Internet Web site (http://www.sec.gov/ I. Self-Regulatory Organization’s example, if a BX Participant executed a
rules/sro.shtml). Copies of the Statement of the Terms of Substance of transaction and a BX Participant cleared
submission, all subsequent the Proposed Rule Change the transaction, the ORF would be
amendments, all written statements assessed to the BX Participant who
The Exchange proposes to institute a
with respect to the proposed rule executed the transaction. Also, if a non-
new transaction based ‘‘Options
change that are filed with the BX Participant executed a transaction
Regulatory Fee’’ or ‘‘ORF.’’
Commission, and all written While fee changes pursuant to this and a BX Participant cleared the
communications relating to the proposal are effective upon filing, the transaction, the ORF would be assessed
proposed rule change between the Exchange has designated these changes to the BX Participant who cleared the
Commission and any person, other than to be operative on February 1, 2016. transaction.
those that may be withheld from the The text of the proposed rule change The Exchange believes it is
public in accordance with the is available on the Exchange’s Web site appropriate to charge the ORF only to
provisions of 5 U.S.C. 552, will be at http:// transactions that clear as Customer at
available for Web site viewing and nasdaqomxbx.cchwallstreet.com/, at the OCC. The Exchange believes that its
printing in the Commission’s Public principal office of the Exchange, and at broad regulatory responsibilities with
Reference Room, 100 F Street NE., the Commission’s Public Reference respect to BX Participants’ activities
Washington, DC 20549 on official Room. supports applying the ORF to
business days between the hours of transactions cleared but not executed by
10:00 a.m. and 3:00 p.m. Copies of such II. Self-Regulatory Organization’s a BX Participant. The Exchange’s
filing also will be available for Statement of the Purpose of, and regulatory responsibilities are the same
inspection and copying at the principal Statutory Basis for, the Proposed Rule regardless of whether a BX Participant
offices of the Exchange. All comments Change executes a transaction or clears a
received will be posted without change; In its filing with the Commission, the transaction executed on its behalf. The
the Commission does not edit personal Exchange included statements
identifying information from
asabaliauskas on DSK9F6TC42PROD with NOTICES2
3 The Exchange does not currently assess a
concerning the purpose of and basis for
submissions. You should submit only registered representative fee to its members.
the proposed rule change and discussed 4 The ORF would apply to all customer orders
information that you wish to make any comments it received on the executed by a BX Participant on BX. Exchange rules
available publicly. All submissions proposed rule change. The text of these require each BX Participant to submit trade
should refer to File Number SR– statements may be examined at the information in order to allow the Exchange to
NYSEArca–2016–23, and should be places specified in Item IV below. The properly prioritize and match orders and quotations
submitted on or before March 2, 2016. and report resulting transactions to the OCC. See
Exchange Rules Chapter V, Section 7. The Exchange
1 15 U.S.C. 78s(b)(1). represents that it has surveillances in place to verify
13 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. that BX Participants comply with the Rule.
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Document Created: 2016-02-10 00:19:17
Document Modified: 2016-02-10 00:19:17
| 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 7161 |
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