81 FR 75460 - Options Price Reporting Authority; Notice of Filing and Immediate Effectiveness of Proposed Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Amend OPRA's Non-Display Use Fees
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 210 (October 31, 2016)
Federal Register Volume 81, Issue 210 (October 31, 2016)
| Page Range | 75460-75462 | |
| FR Document | 2016-26136 |
[Federal Register Volume 81, Number 210 (Monday, October 31, 2016)] [Notices] [Pages 75460-75462] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-26136] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79153; File No. SR-OPRA-2016-02] Options Price Reporting Authority; Notice of Filing and Immediate Effectiveness of Proposed Amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information To Amend OPRA's Non-Display Use Fees October 25, 2016. Pursuant to Section 11A of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given that on September 29, 2016, the Options Price Reporting Authority (``OPRA'') submitted to the Securities and Exchange Commission (``Commission'') an amendment to the Plan for Reporting of Consolidated Options Last Sale Reports and Quotation Information (``OPRA Plan'').\3\ The OPRA Plan Amendment would implement changes to OPRA's Non-Display Use Fees on November 1, 2016. The Commission is publishing this notice to provide interested persons an opportunity to submit written comments on the OPRA Plan amendment. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78k-1. \2\ 17 CFR 242.608. \3\ The OPRA Plan is a national market system plan approved by the Commission pursuant to Section 11A of the Act and Rule 608 thereunder. See Securities Exchange Act Release No. 17638 (March 18, 1981), 22 SEC Docket 484 (March 31, 1981). The full text of the OPRA Plan is available at http://www.opradata.com. The OPRA Plan provides for the collection and dissemination of last sale and quotation information on options that are traded on the participant exchanges. The fourteen participants to the OPRA Plan are BATS BZX Exchange, Inc., BATS EDGX Exchange, Inc., BOX Options Exchange, LLC, Chicago Board Options Exchange, Incorporated, C2 Options Exchange, Incorporated, International Securities Exchange, LLC, ISE Gemini, LLC, ISE Mercury, LLC, Miami International Securities Exchange, LLC, NASDAQ BX, Inc., NASDAQ PHLX LLC, The NASDAQ Stock Market LLC, NYSE MKT LLC, and NYSE Arca, Inc. --------------------------------------------------------------------------- I. Description and Purpose of the Plan Amendment OPRA proposes to amend footnotes 10 and 11 in the OPRA Fee Schedule to clarify the application of OPRA's ``Non-Display Use'' fees in certain respects.\4\ OPRA is not proposing any changes in the Non- Display Use fees themselves, although OPRA does propose to add the word ``Monthly'' to the first phrase in the Non-Display Use Fee entry in the Fee Schedule. --------------------------------------------------------------------------- \4\ OPRA proposed its current Non-Display Use fees in Securities Exchange Act Release No. 77584 (April 12, 2016), 81 FR 22670 (April 18, 2016) (File No. OPRA-2015-01). --------------------------------------------------------------------------- (a) Elimination of the Term ``Datafeed'' OPRA proposes to eliminate the use of the term ``datafeed'' in footnotes 10 and 11. Some OPRA Vendors have argued that the use of the term ``datafeed'' in these footnotes provides a basis for saying that the Non-Display Use fees are not applicable to their downstream OPRA data recipients. That argument is based on a separate OPRA Policy entitled ``Datafeeds.'' \5\ In that Policy, the term ``datafeed'' is defined as ``any uncontrolled retransmission of OPRA market data.'' The argument has been that an OPRA Vendor and its downstream data recipients are not making Non-Display Use of OPRA data if the Vendor ``controls''--that is, entitles--the server on which the Non-Display Use of the OPRA data is made. --------------------------------------------------------------------------- \5\ This Policy is available on the OPRA Web site under the ``Policies'' tab. --------------------------------------------------------------------------- From OPRA's perspective, this is clearly incorrect. The Datafeeds Policy is directed to describing how OPRA data is received, in order to explain the circumstances in which an OPRA data recipient needs to be a party to a ``Vendor Agreement'', a ``Direct Access Rider'' and/or an ``Indirect Access Rider''. The Datafeeds Policy is not relevant to the question of how OPRA data is used, specifically the question of whether a particular use of OPRA data constitutes ``Non-Display Use.'' OPRA believes that the Datafeeds Policy is irrelevant to the question of the applicability of Non-Display Use fees. Nonetheless, OPRA recognizes that the use of the term ``datafeed'' in separate OPRA documents with [[Page 75461]] different meanings carries the potential for confusion and that the description of OPRA's fees should be as clear as possible. Accordingly OPRA is proposing to amend footnotes 10 and 11 in its Fee Schedule so that the term ``datafeed'' is no longer used in the footnotes. (b) Exception for Category 1 Non-Display Use by a Single UserID on Behalf of Certain Data Recipients OPRA also proposes to add a sentence in footnote 10 to state that the Category 1 Non-Display Use Fee \6\ does not apply to an OPRA data recipient during a calendar month if the data recipient: ``(i) has a single UserID that uses OPRA data for Non-Display Use and (ii) is not a broker-dealer and does not place more than 390 orders in listed options per day on average during the calendar month (counting orders for this purpose in accordance with the rules of the OPRA Participant exchanges to which it submits orders during the month) for its own beneficial account(s).'' This sentence is intended to provide relief from the Category 1 Non-Display Use Fee for a data recipient that has a single UserID (a single natural person) that uses OPRA data for Category 1 Non-Display Use, unless the OPRA data recipient is acting as a broker- dealer or is submitting orders to the OPRA Participant exchanges at a rate (390 orders per day on average over a calendar month) that indicates that it is making extensive use of OPRA data. Clause (ii) of this sentence is phrased to take advantage of language in the rules of the various OPRA Participant exchanges that uses the ``390 orders per day on average during the calendar month'' concept for purposes of determining whether a person submitting trades to the exchanges is subject to rules applicable to public customers or to professional traders. OPRA understands the rules of the various exchanges to be similar enough in substance to allow for effective and meaningful counting of orders sent to all of the OPRA Participant exchanges, even though these rules are not stated in identical language.\7\ OPRA believes that the same concept provides a reasonable basis for distinguishing data recipients that are appropriately exempted from the Category 1 Non-Display Use fee.\8\ OPRA believes that this exemption from the application of the Category 1 Non-Display Use Fee would be similar to one of the exemptions stated in the OPRA Fee Schedule from the Subscriber Indirect Access Fee, which states that the Subscriber Indirect Access Fee ``shall not apply to a subscriber . . . that receives a data feed transmission on a single, stand-alone computer for the sole purpose of providing a single-screen display of OPRA Data for the subscriber's internal use.'' --------------------------------------------------------------------------- \6\ ``Category 1'' Non-Display Use is defined in footnote 10 to refer to Non-Display Use of OPRA data by a recipient of the data ``on its own behalf.'' \7\ Although the precise language used by the various exchanges to make this distinction varies from one to the next, all of the exchanges use the ``390 orders per day on average during the calendar month'' concept, and their specific provisions for counting orders are similar enough to permit accurate counting of orders across exchanges for the purposes of the distinction described in the text. See, for example, Bats BZX Rules 16.1(a)(46) and Interpretations and Policies .01 to Rule 16.1; BOX Options Exchange LLC Rule 100(a)(50); CBOE Rule 1.1(ggg); ISE Rule 100(a)(37A) and Rule 100(a)(37C); MIAX Rule 100 (definition of ``Priority Customer'' including Interpretation and Policy .01); Nasdaq PHLX LLC Rule 1000(b)(14); and NYSE Arca, Inc. Rule 6.1A(a)(4A). \8\ OPRA believes that it is not appropriate to make the same distinction for Category 2 Non-Display Use fees (Category 2 Non- Display Use is Non-Display Use of OPRA data on behalf of clients of the OPRA data recipient) or for Category 3 Non-Display Use fees (Category 3 Non-Display Use is for the purpose of internally matching buy and sell orders within the OPRA data recipient). --------------------------------------------------------------------------- (c) Clarification With Respect to Non-Display Use Fees and Professional Subscriber Device-Based Fees OPRA is also proposing a separate change in footnote 10 to the OPRA Fee Schedule for a purpose relating to the administration of the Non- Display Use Fees. A few OPRA data recipients have tried to suggest that if a device is subject to the Professional Subscriber Device-Based Fees it is immune from Non-Display Use Fees, and that therefore by attaching a display monitor to a server an OPRA data recipient can avoid payment of Non-Display Use Fees even if the server is used for Non-Display Use of OPRA data. OPRA believes that this is clearly incorrect, and that this can be clearly seen in the first sentence of footnote 10 in its current form (``Non-Display Use refers to the accessing, processing or consuming . . . of OPRA market data . . . for a purpose other than in support of the datafeed recipient's display or further internal or external redistribution.'' (Emphasis added.)) Nonetheless, OPRA believes that it is appropriate to make changes in footnote 10 to make clearer that a device is subject both to the Professional Subscriber Device-Based Fees and to Non-Display Use Fees if it is used both to display OPRA data and for Non-Display Use of OPRA data. (d) Addition of the Word ``Monthly'' in the Non-Display Use Fee Entry in the Fee Schedule OPRA proposes to add the word ``Monthly'' to the heading of the Non-Display Use Fee entry in its Fee Schedule, so that the entry reads ``Monthly Non-Display Use Fees.'' The absence of this word was recently brought to the attention of OPRA staff. The word is used in the other entries in OPRA's Fee Schedule that are for monthly fees, and OPRA believes that for clarity the word should be used in this entry as well.\9\ So far as OPRA staff is aware, no OPRA data recipient has relied on the absence of the word to conclude that the Non-Display Use fees are payable on any basis other than monthly. --------------------------------------------------------------------------- \9\ OPRA's original filing for Non-Display Use did clearly identify the fees as monthly. See Securities Exchange Act Release No. 77584, 81 FR 22760 at 22762 (``The OPRA Plan amendment adopted fees for Non-Display Use as follows: A monthly fee of $2,000/ Enterprise for Category 1 . . .; a monthly fee of $2,000/Enterprise for Category 2 . . .; and a monthly fee of $2,000/Platform for Category 3 . . .''). --------------------------------------------------------------------------- (e) Effect on OPRA Revenue of Proposed Changes; Discussions With Data Recipients OPRA does not anticipate any material increase in its revenues as a result of the changes described in this filing--indeed, on balance, OPRA may not experience any increase at all in its revenues as a result of the changes described in this filing. A few OPRA data recipients that have resisted payment of Non-Display Use fees on the basis of the assertion that they are not receiving the data through ``datafeeds'' will no longer be able to make that assertion, possibly resulting in a small increase in OPRA's revenues. On the other hand, there may be recipients of OPRA data that have been paying Category 1 Non-Display Use fees and that may no longer pay them as a result of the express exemption from Category 1 Non-Display Use fees for certain data recipients with a single UserID that use OPRA data for Category 1 Non- Display Use. OPRA believes that the change described in this filing to make more explicit that payment of Device-based Fees does not make Non- Display Use fees inapplicable will have no material effect on its revenues. OPRA believes that the most important of these changes is the deletion of the term ``datafeed'' in the footnotes to its Fee Schedule, not because of its effect on OPRA revenues, but because of concerns expressed to OPRA staff by data recipients that have been paying the Non-Display Use fees [[Page 75462]] and have recently been told that their competitors may not be paying the fees on the basis of the ``datafeed'' argument. OPRA recognizes that equal treatment for persons similarly situated is an essential aspect of its operations, and believes that elimination of the word ``datafeed'' is important to providing equal treatment for persons making Non-Display Use of OPRA data. Similarly, OPRA believes that it is appropriate to provide relief from the Non-Display Fee for all data recipients that make limited Category 1 Non-Display Use of OPRA data within the scope of the exception. Finally, OPRA believes that it is appropriate to reinforce the concept that Non-Display Use Fees would be applicable if Non-Display Use is being made of OPRA data, even if the Non-Display Use is being made on a device that is subject to Professional Subscriber Device-Based Fees, again in furtherance of the fundamental concept that persons similarly situated should be treated equally. The text of the amendment to the OPRA Plan is available at OPRA, the Commission's Public Reference Room, the OPRA Web site at http://opradata.com, and on the Commission's Web site at www.sec.gov. II. Implementation of the OPRA Plan Amendment Pursuant to paragraph (b)(3)(i) of Rule 608 of Regulation NMS under the Act, OPRA designated this amendment as establishing or changing fees or other charges collected on behalf of all of the OPRA Participant exchanges in connection with access to or use of OPRA facilities. OPRA proposes to implement the revisions in the Non-Display Use Fee footnotes that are described in this amendment on November 1, 2016. According to OPRA, implementation of the revisions as of that date will permit OPRA to provide persons that may be affected by these changes with thirty days' notice of the changes. The Commission may summarily abrogate the amendment within sixty days of its filing and require refiling and approval of the amendment by Commission order pursuant to Rule 608(b)(2) under the Act \10\ if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or the maintenance of fair and orderly markets, to remove impediments to, and perfect the mechanisms of, a national market system, or otherwise in furtherance of the purposes of the Act.\11\ --------------------------------------------------------------------------- \10\ See 17 CFR 242.608(b)(2). \11\ See 17 CFR 242.608(b)(3)(iii). --------------------------------------------------------------------------- III. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the OPRA Plan amendment 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 No. SR-OPRA-2016-02 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-OPRA-2016-02. 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 OPRA Plan amendment that are filed with the Commission, and all written communications relating to the OPRA Plan amendment 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 office of OPRA. 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-OPRA-2016-02 and should be submitted on or before November 21, 2016. By the Commission. Brent J. Fields, Secretary. [FR Doc. 2016-26136 Filed 10-28-16; 8:45 am] BILLING CODE 8011-01-P
![75460 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices
designated this rule filing as non- Reference Room, 100 F Street NE., Amendment would implement changes
controversial. The Exchange has given Washington, DC 20549 on official to OPRA’s Non-Display Use Fees on
the Commission written notice of its business days between the hours of November 1, 2016. The Commission is
intent to file the proposed rule change, 10:00 a.m. and 3:00 p.m. Copies of such publishing this notice to provide
along with a brief description and text filing also will be available for interested persons an opportunity to
of the proposed rule change at least five inspection and copying at the principal submit written comments on the OPRA
business days prior to the date of filing office of the Exchange. All comments Plan amendment.
of the proposed rule change, or such received will be posted without change;
shorter time as designated by the the Commission does not edit personal I. Description and Purpose of the Plan
Commission. identifying information from Amendment
At any time within 60 days of the submissions. You should submit only OPRA proposes to amend footnotes 10
filing of the proposed rule change, the information that you wish to make and 11 in the OPRA Fee Schedule to
Commission summarily may available publicly. All submissions clarify the application of OPRA’s ‘‘Non-
temporarily suspend such rule change if should refer to File Number SR– Display Use’’ fees in certain respects.4
it appears to the Commission that such BatsEDGX–2016–54, and should be OPRA is not proposing any changes in
action is: (1) Necessary or appropriate in submitted on or before November 21, the Non-Display Use fees themselves,
the public interest; (2) for the protection 2016. although OPRA does propose to add the
of investors; or (3) otherwise in For the Commission, by the Division of word ‘‘Monthly’’ to the first phrase in
furtherance of the purposes of the Act. Trading and Markets, pursuant to delegated the Non-Display Use Fee entry in the
If the Commission takes such action, the authority.30 Fee Schedule.
Commission shall institute proceedings Brent J. Fields,
to determine whether the proposed rule (a) Elimination of the Term ‘‘Datafeed’’
Secretary.
should be approved or disapproved. [FR Doc. 2016–26134 Filed 10–28–16; 8:45 am]
OPRA proposes to eliminate the use
of the term ‘‘datafeed’’ in footnotes 10
IV. Solicitation of Comments BILLING CODE 8011–01–P
and 11. Some OPRA Vendors have
Interested persons are invited to argued that the use of the term
submit written data, views, and ‘‘datafeed’’ in these footnotes provides a
SECURITIES AND EXCHANGE
arguments concerning the foregoing, basis for saying that the Non-Display
COMMISSION
including whether the proposed rule Use fees are not applicable to their
change is consistent with the Act. [Release No. 34–79153; File No. SR–OPRA– downstream OPRA data recipients. That
Comments may be submitted by any of 2016–02] argument is based on a separate OPRA
the following methods: Policy entitled ‘‘Datafeeds.’’ 5 In that
Options Price Reporting Authority;
Electronic Comments Notice of Filing and Immediate Policy, the term ‘‘datafeed’’ is defined as
‘‘any uncontrolled retransmission of
• Use the Commission’s Internet Effectiveness of Proposed Amendment
OPRA market data.’’ The argument has
comment form (http://www.sec.gov/ to the Plan for Reporting of
Consolidated Options Last Sale been that an OPRA Vendor and its
rules/sro.shtml); or downstream data recipients are not
• Send an email to rule-comments@ Reports and Quotation Information To
making Non-Display Use of OPRA data
sec.gov. Please include File Number SR– Amend OPRA’s Non-Display Use Fees
if the Vendor ‘‘controls’’—that is,
BatsEDGX–2016–54 on the subject line. October 25, 2016. entitles—the server on which the Non-
Paper Comments Pursuant to Section 11A of the Display Use of the OPRA data is made.
• Send paper comments in triplicate Securities Exchange Act of 1934 From OPRA’s perspective, this is
to Secretary, Securities and Exchange (‘‘Act’’) 1 and Rule 608 thereunder,2 clearly incorrect. The Datafeeds Policy
Commission, 100 F Street NE., notice is hereby given that on is directed to describing how OPRA data
September 29, 2016, the Options Price is received, in order to explain the
Washington, DC 20549–1090.
Reporting Authority (‘‘OPRA’’) circumstances in which an OPRA data
All submissions should refer to File submitted to the Securities and recipient needs to be a party to a
Number SR–BatsEDGX–2016–54. This Exchange Commission (‘‘Commission’’) ‘‘Vendor Agreement’’, a ‘‘Direct Access
file number should be included on the an amendment to the Plan for Reporting Rider’’ and/or an ‘‘Indirect Access
subject line if email is used. To help the of Consolidated Options Last Sale Rider’’. The Datafeeds Policy is not
Commission process and review your Reports and Quotation Information relevant to the question of how OPRA
comments more efficiently, please use (‘‘OPRA Plan’’).3 The OPRA Plan data is used, specifically the question of
only one method. The Commission will
whether a particular use of OPRA data
post all comments on the Commission’s 30 17 CFR 200.30–3(a)(12). constitutes ‘‘Non-Display Use.’’ OPRA
Internet Web site (http://www.sec.gov/ 1 15 U.S.C. 78k–1. believes that the Datafeeds Policy is
rules/sro.shtml). Copies of the 2 17 CFR 242.608.
irrelevant to the question of the
submission, all subsequent 3 The OPRA Plan is a national market system plan
approved by the Commission pursuant to Section applicability of Non-Display Use fees.
amendments, all written statements
11A of the Act and Rule 608 thereunder. See Nonetheless, OPRA recognizes that
with respect to the proposed rule Securities Exchange Act Release No. 17638 (March the use of the term ‘‘datafeed’’ in
change that are filed with the 18, 1981), 22 SEC Docket 484 (March 31, 1981). The separate OPRA documents with
Commission, and all written full text of the OPRA Plan is available at http://
communications relating to the www.opradata.com. The OPRA Plan provides for
sradovich on DSK3GMQ082PROD with NOTICES
the collection and dissemination of last sale and Securities Exchange, LLC, NASDAQ BX, Inc.,
proposed rule change between the quotation information on options that are traded on NASDAQ PHLX LLC, The NASDAQ Stock Market
Commission and any person, other than the participant exchanges. The fourteen participants LLC, NYSE MKT LLC, and NYSE Arca, Inc.
those that may be withheld from the to the OPRA Plan are BATS BZX Exchange, Inc., 4 OPRA proposed its current Non-Display Use
public in accordance with the BATS EDGX Exchange, Inc., BOX Options fees in Securities Exchange Act Release No. 77584
Exchange, LLC, Chicago Board Options Exchange, (April 12, 2016), 81 FR 22670 (April 18, 2016) (File
provisions of 5 U.S.C. 552, will be Incorporated, C2 Options Exchange, Incorporated, No. OPRA–2015–01).
available for Web site viewing and International Securities Exchange, LLC, ISE Gemini, 5 This Policy is available on the OPRA Web site
printing in the Commission’s Public LLC, ISE Mercury, LLC, Miami International under the ‘‘Policies’’ tab.
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![75462 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices
and have recently been told that their market system, or otherwise in By the Commission.
competitors may not be paying the fees furtherance of the purposes of the Act.11 Brent J. Fields,
on the basis of the ‘‘datafeed’’ argument. Secretary.
OPRA recognizes that equal treatment III. Solicitation of Comments
[FR Doc. 2016–26136 Filed 10–28–16; 8:45 am]
for persons similarly situated is an Interested persons are invited to BILLING CODE 8011–01–P
essential aspect of its operations, and submit written data, views, and
believes that elimination of the word arguments concerning the foregoing,
‘‘datafeed’’ is important to providing including whether the OPRA Plan SECURITIES AND EXCHANGE
equal treatment for persons making amendment is consistent with the Act. COMMISSION
Non-Display Use of OPRA data. Comments may be submitted by any of
Similarly, OPRA believes that it is the following methods:
appropriate to provide relief from the [Release No. 34–79152; File No. SR–OPRA–
Electronic Comments 2016–01]
Non-Display Fee for all data recipients
that make limited Category 1 Non-
• Use the Commission’s Internet Options Price Reporting Authority;
Display Use of OPRA data within the
comment form (http://www.sec.gov/ Notice of Filing and Immediate
scope of the exception. Finally, OPRA
rules/sro.shtml); or Effectiveness of Proposed Amendment
believes that it is appropriate to
reinforce the concept that Non-Display • Send an email to rule-comments@ to the Plan for Reporting of
Use Fees would be applicable if Non- sec.gov. Please include File No. SR– Consolidated Options Last Sale
Display Use is being made of OPRA OPRA–2016–02 on the subject line. Reports and Quotation Information To
data, even if the Non-Display Use is Amend the Professional Subscriber
Paper Comments Device-Based Fees and Policies with
being made on a device that is subject
to Professional Subscriber Device-Based • Send paper comments in triplicate Respect to Device-Based Fees
Fees, again in furtherance of the to Secretary, Securities and Exchange October 25, 2016.
fundamental concept that persons Commission, 100 F Street NE.,
similarly situated should be treated Washington, DC 20549–1090. Pursuant to Section 11A of the
equally. Securities Exchange Act of 1934
All submissions should refer to File (‘‘Act’’) 1 and Rule 608 thereunder,2
The text of the amendment to the Number SR–OPRA–2016–02. This file
OPRA Plan is available at OPRA, the notice is hereby given that on
number should be included on the September 29, 2016, the Options Price
Commission’s Public Reference Room, subject line if email is used. To help the
the OPRA Web site at http:// Reporting Authority (‘‘OPRA’’)
Commission process and review your submitted to the Securities and
opradata.com, and on the Commission’s
comments more efficiently, please use Exchange Commission (‘‘Commission’’)
Web site at www.sec.gov.
only one method. The Commission will an amendment to the Plan for Reporting
II. Implementation of the OPRA Plan post all comments on the Commission’s of Consolidated Options Last Sale
Amendment Internet Web site (http://www.sec.gov/
Reports and Quotation Information
rules/sro.shtml). Copies of the
Pursuant to paragraph (b)(3)(i) of Rule (‘‘OPRA Plan’’).3 The OPRA Plan
submission, all subsequent
608 of Regulation NMS under the Act, Amendment would implement changes
amendments, all written statements
OPRA designated this amendment as to the Professional Subscriber Device-
with respect to the OPRA Plan
establishing or changing fees or other amendment that are filed with the Based Fee effective January 1, 2017. The
charges collected on behalf of all of the Commission, and all written OPRA Plan Amendment would also
OPRA Participant exchanges in communications relating to the OPRA implement minor clarifying changes to
connection with access to or use of Plan amendment between the the Policies with Respect to Device-
OPRA facilities. OPRA proposes to Commission and any person, other than Based Fees, effective immediately. The
implement the revisions in the Non- those that may be withheld from the Commission is publishing this notice to
Display Use Fee footnotes that are public in accordance with the provide interested persons an
described in this amendment on provisions of 5 U.S.C. 552, will be opportunity to submit written
November 1, 2016. According to OPRA, available for Web site viewing and comments on the OPRA Plan
implementation of the revisions as of printing in the Commission’s Public amendment.
that date will permit OPRA to provide Reference Room, 100 F Street NE.,
persons that may be affected by these Washington, DC 20549, on official 1 15 U.S.C. 78k–1.
changes with thirty days’ notice of the business days between the hours of 2 17 CFR 242.608.
changes. 10:00 a.m. and 3:00 p.m. Copies of such
3 The OPRA Plan is a national market system plan
approved by the Commission pursuant to Section
The Commission may summarily filing also will be available for 11A of the Act and Rule 608 thereunder. See
abrogate the amendment within sixty inspection and copying at the principal Securities Exchange Act Release No. 17638 (March
days of its filing and require refiling and office of OPRA. All comments received 18, 1981), 22 S.E.C. Docket 484 (March 31, 1981).
approval of the amendment by will be posted without change; the The full text of the OPRA Plan is available at http://
www.opradata.com. The OPRA Plan provides for
Commission order pursuant to Rule Commission does not edit personal the collection and dissemination of last sale and
608(b)(2) under the Act 10 if it appears identifying information from quotation information on options that are traded on
to the Commission that such action is submissions. You should submit only the participant exchanges. The fourteen participants
sradovich on DSK3GMQ082PROD with NOTICES
necessary or appropriate in the public information that you wish to make to the OPRA Plan are BATS Exchange, Inc., BOX
Options Exchange, LLC, Chicago Board Options
interest, for the protection of investors, available publicly. All submissions Exchange, Incorporated, C2 Options Exchange,
or the maintenance of fair and orderly should refer to File Number SR–OPRA– Incorporated, EDGX Exchange, Inc., International
markets, to remove impediments to, and 2016–02 and should be submitted on or Securities Exchange, LLC, ISE Gemini, LLC, ISE
perfect the mechanisms of, a national before November 21, 2016. Mercury,LLC, Miami International Securities
Exchange, LLC, NASDAQ OMX BX, Inc., NASDAQ
OMX PHLX LLC, The NASDAQ Stock Market LLC,
10 See 17 CFR 242.608(b)(2). 11 See 17 CFR 242.608(b)(3)(iii). NYSE MKT LLC, and NYSE Arca, Inc.
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Document Created: 2018-02-02 12:13:30
Document Modified: 2018-02-02 12:13:30
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| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 81 FR 75460 |
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