81 FR 80689 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 221 (November 16, 2016)
Federal Register Volume 81, Issue 221 (November 16, 2016)
| Page Range | 80689-80691 | |
| FR Document | 2016-27471 |
[Federal Register Volume 81, Number 221 (Wednesday, November 16, 2016)] [Notices] [Pages 80689-80691] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-27471] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79276; File No SR-CBOE-2016-075] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule November 9, 2016. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that on November 1, 2016, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- [[Page 80690]] I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The text of the proposed rule change is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend its Fees Schedule. Particularly, the Exchange proposes to amend its fees for Firm (origin codes ``F'' and ``L'') facilitation orders. The Fees Schedule currently defines ``Facilitation orders'' as any order in which a Clearing Trading Permit Holder (``F'' origin code) or Non-Trading Permit Holder Affiliate (``L'' origin code) is contra to any other origin code, provided the same executing broker and clearing firm are on both sides of the transaction (for open outcry) or both sides of a paired order (for orders executed electronically).\3\ The Fees Schedule also provides that for facilitation orders (other than Underlying Symbol List A (34) excluding binary options) executed in open outcry, or electronically via the Automated Improvement Mechanism (``AIM'') or as a Qualified Contingent Cross order (``QCC'') or CFLEX transaction, CBOE will assess no Clearing Trading Permit Holder Proprietary transaction fees. The Exchange proposes to amend the Fees Schedule to provide that for facilitation orders executed via AIM (i.e., AIM facilitation contra orders), Firms would be assessed $0.05 per contract and for facilitation orders executed as a QCC order, Firms would be assessed $0.17 per contract. Additionally, the Exchange would amend the Clearing Trading Permit Holder Fee Cap rate table to reflect that AIM facilitation contra orders would now count towards the Clearing Trading Permit Holder Fee Cap (``Fee Cap''). The Exchange notes that AIM and QCC orders are already subject to rebates and therefore, it does not wish to further provide free facilitation on these executions.\4\ The Exchange also notes that other Exchanges do not waive fees for facilitation orders that are executed through an electronic pairing mechanism or as a QCC order.\5\ --------------------------------------------------------------------------- \3\ See CBOE Fees Schedule, Footnote 11. \4\ See e.g., CBOE Fees Schedule, the Volume Incentive Program, which provides credits for customer AIM orders and QCC Rate Table, which provides $0.10 per contract credit for all transaction QCC orders. \5\ See e.g., NASDAQ PHLX Pricing Schedule, Section II, Multiply Listed Options Fees and Section IV Other Transaction Fees, PIXL Pricing. See also, NYSE Amex Options (``Amex'') Fees Schedule, Credits and Key Terms and Definitions and Section I, Options Transaction Fees. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\6\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \7\ requirements that the rules of an exchange be 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with Section 6(b)(4) of the Act,\8\ which requires that Exchange rules provide for the equitable allocation of reasonable dues, fees, and other charges among its Trading Permit Holders and other persons using its facilities. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b). \7\ 15 U.S.C. 78f(b)(5). \8\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that assessing $0.05 per contract for Firm facilitation orders executed via AIM (i.e., AIM facilitation contra orders) is reasonable because it is the same amount assessed to Firms for AIM Solicitation contra orders. The Exchange believes it is equitable and not unfairly discriminatory to no longer waive transaction fees for AIM facilitation contra orders because AIM orders are already eligible for a rebate under the Volume Incentive Program (``VIP''). The Exchange also notes that transaction fees for similar facilitation transactions executed via an electronic pairing system at other exchanges are not waived.\9\ The Exchange believes amending the Fee Cap table to reflect that AIM facilitation contra orders would count towards the Fee Cap is reasonable, equitable and not unfairly discriminatory because the Exchange will now be charging for these transactions (whereas before they were listed as ``$0.00) and because AIM Solicitation contra orders are also applied to the Fee Cap. --------------------------------------------------------------------------- \9\ See supra Note 5. --------------------------------------------------------------------------- The Exchange believes that assessing $0.17 per contract for Firm facilitation orders executed as a QCC order is reasonable because it is the same amount all non-Customer orders are assessed for QCC order executions. The Exchange believes it is equitable and not unfairly discriminatory to no longer waive transaction fees for QCC facilitation contra orders because QCC orders already receive a rebate of $0.10 per contract. The Exchange also notes that transaction fees for similar QCC facilitation orders executed at other exchanges are not waived.\10\ --------------------------------------------------------------------------- \10\ Id. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule changes will impose any burdens on competition that are not necessary or appropriate in furtherance of the purposes of the Act. The Exchange does not believe that the proposed rule change will impose any burden on intramarket competition that is not necessary or appropriate in furtherance of the purposes of the Act because while the Exchange is eliminating its Firm Facilitation fee waiver for AIM and QCC orders, these orders are subject to the benefit of various rebates and will be assessed the same amounts charged to Firms for non-facilitation AIM contra orders and QCC orders, respectively. The Exchange does not believe that the proposed change will cause any unnecessary burden on intermarket competition because the proposed change only affects trading on CBOE. To the extent that the proposed changes make CBOE a more attractive marketplace for market participants at other exchanges, such market participants are welcome to become CBOE market participants. [[Page 80691]] C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \11\ and paragraph (f) of Rule 19b-4 \12\ thereunder. 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 will institute proceedings to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(3)(A). \12\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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 rule-comments@sec.gov. Please include File Number SR-CBOE-2016-075 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. All submissions should refer to File Number SR-CBOE-2016-075. 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 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 referto File Number SR-CBOE-2016-075 and should be submitted on or before December 7, 2016. --------------------------------------------------------------------------- \13\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\13\ Brent J. Fields, Secretary. [FR Doc. 2016-27471 Filed 11-15-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 221 / Wednesday, November 16, 2016 / Notices 80689
ML11333A033), NUREG/CR–7010, ACTION: Notice. concern market dominant product(s),
Volume 1, ‘‘Cable Heat Release, Ignition, applicable statutory and regulatory
and Spread in Tray Installations During SUMMARY: The Commission is noticing a requirements include 39 U.S.C. 3622, 39
Fire (CHRISTIFIRE), Phase 1: Horizontal recent Postal Service filing for the U.S.C. 3642, 39 CFR part 3010, and 39
Trays’’ (ADAMS Accession No. Commission’s consideration concerning CFR part 3020, subpart B. For request(s)
ML12213A056), NUREG/CR–7010, a negotiated service agreement. This that the Postal Service states concern
Volume 2, ‘‘Cable Heat Release, Ignition, notice informs the public of the filing, competitive product(s), applicable
and Spread in Tray Installations During invites public comment, and takes other statutory and regulatory requirements
Fire (CHRISTIFIRE), Phase 2: Vertical administrative steps. include 39 U.S.C. 3632, 39 U.S.C. 3633,
Shafts and Corridors’’ (ADAMS DATES: Comments are due: November 39 U.S.C. 3642, 39 CFR part 3015, and
Accession No. ML13346A045), NUREG– 17, 2016 39 CFR part 3020, subpart B. Comment
2128, ‘‘Electrical Cable Test Results and ADDRESSES: Submit comments deadline(s) for each request appear in
Analysis During Fire Exposure electronically via the Commission’s section II.
(ELECTRA–FIRE), A Consolidation of Filing Online system at http://
II. Docketed Proceeding(s)
Three Major Fire-Induced Circuit and www.prc.gov. Those who cannot submit
Cable Failure Experiments Performed comments electronically should contact 1. Docket No(s).: CP2017–34; Filing
Between 2001 and 2011’’ (ADAMS the person identified in the FOR FURTHER Title: Notice of United States Postal
Accession No. ML13253A087), NUREG/ INFORMATION CONTACT section by Service of Filing a Functionally
CR–7150, Volume 1, ‘‘Joint Assessment telephone for advice on filing Equivalent Global Expedited Package
of Cable Damage and Quantification of alternatives. Services 3 Negotiated Service
Effects from Fire (JACQUE–FIRE)’’ FOR FURTHER INFORMATION CONTACT:
Agreement and Application for Non-
(ADAMS Accession No. ML12313A105), David A. Trissell, General Counsel, at Public Treatment of Materials Filed
NUREG/CR–7150, Volume 2, ‘‘Joint 202–789–6820. Under Seal; Filing Acceptance Date:
Assessment of Cable Damage and November 8, 2016; Filing Authority: 39
SUPPLEMENTARY INFORMATION:
Quantification of Effects from Fire CFR 3015.5; Public Representative:
(JACQUE–FIRE)’’ (ADAMS Accession Table of Contents Lawrence Fenster; Comments Due:
No. ML14141A129). November 17, 2016.
I. Introduction
The purpose of this draft test plan is This notice will be published in the
II. Docketed Proceeding(s)
to better understand the fire-induced Federal Register.
failure modes of instrumentation cables I. Introduction Stacy L. Ruble,
and evaluate the potential effect those The Commission gives notice that the Secretary.
failure modes could have on plant Postal Service filed request(s) for the [FR Doc. 2016–27443 Filed 11–15–16; 8:45 am]
instrumentation circuits (i.e., circuit, Commission to consider matters related BILLING CODE 7710–FW–P
component, and/or system response). to negotiated service agreement(s). The
Specifically, this research is intended to request(s) may propose the addition or
better quantify the signal leakage removal of a negotiated service
characteristics that may occur before agreement from the market dominant or
catastrophic failure in instrumentation SECURITIES AND EXCHANGE
the competitive product list, or the COMMISSION
circuits. modification of an existing product
The NRC is requesting public currently appearing on the market
comment in order to receive feedback [Release No. 34–79276; File No SR–CBOE–
dominant or the competitive product 2016–075]
from the widest range of interested list.
parties and to ensure that all Section II identifies the docket
information relevant to developing this Self-Regulatory Organizations;
number(s) associated with each Postal Chicago Board Options Exchange,
document is available to the NRC staff. Service request, the title of each Postal
This document is not intended for Incorporated; Notice of Filing and
Service request, the request’s acceptance Immediate Effectiveness of a Proposed
interim use. The NRC will review public date, and the authority cited by the
comments received on the document, Rule Change To Amend the Fees
Postal Service for each request. For each Schedule
incorporate suggested changes as request, the Commission appoints an
necessary, and make the final test plan officer of the Commission to represent November 9, 2016.
available. the interests of the general public in the Pursuant to Section 19(b)(1) of the
Dated at Rockville, Maryland, this 4th day proceeding, pursuant to 39 U.S.C. 505 Securities Exchange Act of 1934 (the
of November, 2016. (Public Representative). Section II also ‘‘Act’’),1 and Rule 19b–4 thereunder,2
For the Nuclear Regulatory Commission. establishes comment deadline(s) notice is hereby given that on November
Mark Henry Salley, pertaining to each request. 1, 2016, Chicago Board Options
Chief, Fire and External Hazard Analysis The public portions of the Postal Exchange, Incorporated (the ‘‘Exchange’’
Branch, Division of Risk Analysis, Office of Service’s request(s) can be accessed via or ‘‘CBOE’’) filed with the Securities
Nuclear Regulatory Research. the Commission’s Web site (http:// and Exchange Commission (the
[FR Doc. 2016–27721 Filed 11–15–16; 8:45 am] www.prc.gov). Non-public portions of ‘‘Commission’’) the proposed rule
the Postal Service’s request(s), if any, change as described in Items I, II, and
asabaliauskas on DSK3SPTVN1PROD with NOTICES
BILLING CODE 7590–01–P
can be accessed through compliance III below, which Items have been
with the requirements of 39 CFR prepared by the Exchange. The
POSTAL REGULATORY COMMISSION 3007.40. Commission is publishing this notice to
The Commission invites comments on solicit comments on the proposed rule
[Docket No. CP2017–34] whether the Postal Service’s request(s) change from interested persons.
in the captioned docket(s) are consistent
New Postal Product
with the policies of title 39. For 1 15 U.S.C. 78s(b)(1).
AGENCY: Postal Regulatory Commission. request(s) that the Postal Service states 2 17 CFR 240.19b–4.
VerDate Sep<11>2014 16:23 Nov 15, 2016 Jkt 241001 PO 00000 Frm 00059 Fmt 4703 Sfmt 4703 E:\FR\FM\16NON1.SGM 16NON1](https://thefederalregister.org/doc/81_FR_80910/page/1.svg)
![Federal Register / Vol. 81, No. 221 / Wednesday, November 16, 2016 / Notices 80691
C. Self-Regulatory Organization’s communications relating to the I. Self-Regulatory Organization’s
Statement on Comments on the proposed rule change between the Statement of the Terms of Substance of
Proposed Rule Change Received From Commission and any person, other than the Proposed Rule Change
Members, Participants, or Others those that may be withheld from the
public in accordance with the The Exchange is filing a proposal to
The Exchange neither solicited nor
provisions of 5 U.S.C. 552, will be amend Exchange Rule 519A, Risk
received comments on the proposed
available for Web site viewing and Protection Monitor.
rule change.
printing in the Commission’s Public The text of the proposed rule change
III. Date of Effectiveness of the is available on the Exchange’s Web site
Reference Room, 100 F Street NE.,
Proposed Rule Change and Timing for at http://www.miaxoptions.com/filter/
Washington, DC 20549, on official
Commission Action
business days between the hours of wotitle/rule_filing, at MIAX’s principal
The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of such office, and at the Commission’s Public
effective pursuant to Section 19(b)(3)(A) filing also will be available for Reference Room.
of the Act 11 and paragraph (f) of Rule inspection and copying at the principal
19b–4 12 thereunder. At any time within II. Self-Regulatory Organization’s
office of the Exchange. All comments Statement of the Purpose of, and
60 days of the filing of the proposed rule received will be posted without change;
change, the Commission summarily may Statutory Basis for, the Proposed Rule
the Commission does not edit personal Change
temporarily suspend such rule change if
identifying information from
it appears to the Commission that such
action is necessary or appropriate in the submissions. You should submit only In its filing with the Commission, the
public interest, for the protection of information that you wish to make Exchange included statements
investors, or otherwise in furtherance of available publicly. All submissions concerning the purpose of and basis for
the purposes of the Act. If the should referto File Number SR–CBOE– the proposed rule change and discussed
Commission takes such action, the 2016–075 and should be submitted on any comments it received on the
Commission will institute proceedings or before December 7, 2016. proposed rule change. The text of these
to determine whether the proposed rule For the Commission, by the Division of statements may be examined at the
change should be approved or Trading and Markets, pursuant to delegated places specified in Item IV below. The
disapproved. authority.13 Exchange has prepared summaries, set
Brent J. Fields,
forth in sections A, B, and C below, of
IV. Solicitation of Comments the most significant aspects of such
Interested persons are invited to Secretary.
statements.
submit written data, views, and [FR Doc. 2016–27471 Filed 11–15–16; 8:45 am]
arguments concerning the foregoing, BILLING CODE 8011–01–P A. Self-Regulatory Organization’s
including whether the proposed rule Statement of the Purpose of, and
change is consistent with the Act. Statutory Basis for, the Proposed Rule
Comments may be submitted by any of SECURITIES AND EXCHANGE Change
the following methods: COMMISSION 1. Purpose
Electronic Comments
[Release No. 34–79272; File No. SR–MIAX– The Exchange proposes to amend
• Use the Commission’s Internet 2016–39] Exchange Rule 519A, Risk Protection
comment form (http://www.sec.gov/ Monitor, to mandate the use of the Risk
rules/sro.shtml); or Self-Regulatory Organizations; Miami Protection Monitor by Members, and to
• Send an email to rule-comments@ International Securities Exchange LLC; state clearly in the rule that Members
sec.gov. Please include File Number SR– Notice of Filing and Immediate may establish multiple RPM Settings, as
CBOE–2016–075 on the subject line. Effectiveness of a Proposed Rule defined below.
Paper Comments Change To Amend Exchange Rule
519A, Risk Protection Monitor Current Functionality
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities November 9, 2016. Currently, using the Risk Protection
and Exchange Commission, 100 F Street Monitor, the Exchange’s System 3
NE., Washington, DC 20549. Pursuant to the provisions of Section maintains a counting program
All submissions should refer to File 19(b)(1) of the Securities Exchange Act (‘‘counting program’’) for each
Number SR–CBOE–2016–075. This file of 1934 (‘‘Act’’) 1 and Rule 19b–4 participating Member that counts the
number should be included on the thereunder,2 notice is hereby given that number of orders entered and the
subject line if email is used. To help the on October 31, 2016, Miami number of contracts traded via an order
Commission process and review your International Securities Exchange LLC entered by a Member on the Exchange
comments more efficiently, please use (‘‘MIAX’’ or ‘‘Exchange’’) filed with the within a specified time period that has
only one method. The Commission will Securities and Exchange Commission been established by the Member (the
post all comments on the Commission’s (‘‘Commission’’) a proposed rule change ‘‘specified time period’’). The maximum
Internet Web site (http://www.sec.gov/ as described in Items I and II below, duration of the specified time period is
which Items have been prepared by the
asabaliauskas on DSK3SPTVN1PROD with NOTICES
rules/sro.shtml). Copies of the established by the Exchange and
submission, all subsequent Exchange. The Commission is announced via a Regulatory Circular.
amendments, all written statements publishing this notice to solicit The current maximum duration of the
with respect to the proposed rule comments on the proposed rule change specified time period is a trading
change that are filed with the from interested persons. session.
Commission, and all written
13 17 CFR 200.30–3(a)(12). 3 The term ‘‘System’’ means the automated
11 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). trading system used by the Exchange for the trading
12 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. of securities. See Exchange Rule 100.
VerDate Sep<11>2014 16:23 Nov 15, 2016 Jkt 241001 PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 E:\FR\FM\16NON1.SGM 16NON1](https://thefederalregister.org/doc/81_FR_80910/page/3.svg)
Document Created: 2016-11-16 00:57:27
Document Modified: 2016-11-16 00:57:27
| 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 80689 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR