81 FR 87111 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Substantive Changes to the Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 232 (December 2, 2016)

Page Range		87111-87112
FR Document		2016-28933
Federal Register, Volume 81 Issue 232 (Friday, December 2, 2016)
[Federal Register Volume 81, Number 232 (Friday, December 2, 2016)]
[Notices]
[Pages 87111-87112]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-28933]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79411; File No. SR-BatsEDGX-2016-66]


Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To Make 
Non-Substantive Changes to the Fee Schedule

November 28, 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 18, 2016, Bats EDGX Exchange, Inc. (the ``Exchange'' 
or ``EDGX'') 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 
Exchange has designated the proposed rule change as one establishing or 
changing a member due, fee, or other charge imposed by the Exchange 
under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) 
thereunder,\4\ which renders the proposed rule change effective upon 
filing with the Commission. The Commission is publishing this notice to 
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange filed a proposal to make several non-substantive 
changes to the fee schedule applicable to Members \5\ and non-members 
of the Exchange pursuant to Exchange Rules 15.1(a) and (c).
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    \5\ A Member is defined as ``any registered broker or dealer 
that has been admitted to membership in the Exchange.'' See Exchange 
Rule 1.5(n).
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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 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 Exchange proposes to make certain clarifying and non-
substantive changes to its fee schedule in order to improve formatting, 
eliminate certain redundancies, increase overall readability, and 
provide users with straightforward descriptions to augment overall 
comprehensibility and usability of the existing fee schedule. The 
Exchange notes that these changes are purely clerical and do not 
substantively amend any fee or rebate, nor do they alter the manner in 
which the Exchange assesses fees or calculates rebates. The proposed 
changes are simply intended to provide greater transparency to market 
participants regarding how the Exchange assesses fees and calculates 
rebates. Specifically, the Exchange proposes to:
     Capitalize the title of the column setting forth each 
tier's rate under footnotes 1 and 2;
     ensure each tier requiring multiple criteria is conjoined 
using ``; and'' to clarify that all of a tier's criteria must be 
satisfied to receive the applicable rate;
     amend the name under first column of the tiers listed 
under footnote 2 to simply state ``Tier 1'', Tier 2'' to remove added 
language that is clearly set forth in and redundant with the tier's 
title;
     replace the phrases ``equal to or greater than'' and ``of 
at least'' with ``>='' in all required criteria cells under footnotes 1 
and 2.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder that are applicable to a national securities exchange, and, 
in particular, with the requirements of Section 6 of the Act.\6\ 
Specifically, the Exchange believes that the proposed rule change is 
consistent with Sections 6(b)(4) of the Act of the Act [sic],\7\ in 
that it provides for the equitable allocation of reasonable dues, fees 
and other charges among members and other persons using any facility or 
system which the Exchange operates or controls. The Exchange believes 
that the proposed changes are reasonable and equitable because they are 
intended to simplify the Exchange's fee schedule and provide greater 
transparency to market participants regarding how the Exchange assesses 
fees and calculates rebates. The Exchange notes that these changes are 
purely clerical and do not substantively amend any fee or rebate, nor 
do they alter the manner in which the Exchange assesses fees or 
calculates rebates. The Exchange also believes that the proposal is 
non-discriminatory because it applies uniformly to all Members. 
Finally, the Exchange believes that the proposed changes will make the 
fee schedule clearer and eliminate potential investor confusion, 
thereby removing impediments to and

[[Page 87112]]

perfecting the mechanism of a free and open market and a national 
market system, and, in general, protecting investors and the public 
interest.
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    \6\ 15 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
result in any burden on competition that is not necessary or 
appropriate in furtherance of the purposes of the Act, as amended. To 
the contrary, the Exchange believes that the [sic] will not impose any 
burden on competition as the changes are purely clerical and do not 
amend and [sic] fee or rebate.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any written comments from members or other interested parties.

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 \8\ and paragraph (f) of Rule 19b-4 
thereunder.\9\ 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.
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f).
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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 Comments

     Use 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-BatsEDGX-2016-66 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-BatsEDGX-2016-66. 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 refer to File Number SR-BatsEDGX-2016-66, and should 
be submitted on or before December 23, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Robert W. Errett,
Deputy Secretary.
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    \10\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2016-28933 Filed 12-1-16; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 81, No. 232 / Friday, December 2, 2016 / Notices 87111

inspection and copying at the principal ‘‘Act’’),1 and Rule 19b–4 thereunder,2 overall comprehensibility and usability
office of the Exchange. All comments notice is hereby given that on November of the existing fee schedule. The
received will be posted without change; 18, 2016, Bats EDGX Exchange, Inc. (the Exchange notes that these changes are
the Commission does not edit personal ‘‘Exchange’’ or ‘‘EDGX’’) filed with the purely clerical and do not substantively
identifying information from Securities and Exchange Commission amend any fee or rebate, nor do they
submissions. You should submit only (the ‘‘Commission’’) the proposed rule alter the manner in which the Exchange
information that you wish to make change as described in Items I, II, and assesses fees or calculates rebates. The
available publicly. All submissions III below, which Items have been proposed changes are simply intended
should refer to File Number SR– prepared by the Exchange. The to provide greater transparency to
BatsEDGX–2016–65, and should be Exchange has designated the proposed market participants regarding how the
submitted on or before December 23, rule change as one establishing or Exchange assesses fees and calculates
2016. changing a member due, fee, or other rebates. Specifically, the Exchange
For the Commission, by the Division of charge imposed by the Exchange under proposes to:
Trading and Markets, pursuant to delegated Section 19(b)(3)(A)(ii) of the Act 3 and • Capitalize the title of the column
authority.12 Rule 19b–4(f)(2) thereunder,4 which setting forth each tier’s rate under
Robert W. Errett, renders the proposed rule change footnotes 1 and 2;
effective upon filing with the • ensure each tier requiring multiple
Deputy Secretary.
Commission. The Commission is criteria is conjoined using ‘‘; and’’ to
[FR Doc. 2016–28926 Filed 12–1–16; 8:45 am] clarify that all of a tier’s criteria must be
publishing this notice to solicit
BILLING CODE 8011–01–P
comments on the proposed rule change satisfied to receive the applicable rate;
from interested persons. • amend the name under first column
of the tiers listed under footnote 2 to
SECURITIES AND EXCHANGE I. Self-Regulatory Organization’s simply state ‘‘Tier 1’’, Tier 2’’ to remove
COMMISSION Statement of the Terms of the Substance added language that is clearly set forth
of the Proposed Rule Change in and redundant with the tier’s title;
[Release No. 34–79361A; File No. SR– The Exchange filed a proposal to • replace the phrases ‘‘equal to or
FINRA–2016–043] make several non-substantive changes to greater than’’ and ‘‘of at least’’ with ‘‘≥’’
the fee schedule applicable to in all required criteria cells under
Self-Regulatory Organizations; footnotes 1 and 2.
Financial Industry Regulatory Members 5 and non-members of the
Authority, Inc.; Notice of Filing and Exchange pursuant to Exchange Rules 2. Statutory Basis
Immediate Effectiveness of a Proposed 15.1(a) and (c).
The Exchange believes that the
Rule Change To Provide a Process for II. Self-Regulatory Organization’s proposed rule change is consistent with
an Expedited Proceeding and Adopt a Statement of the Purpose of, and the requirements of the Act and the
Rule To Prohibit Disruptive Quoting Statutory Basis for, the Proposed Rule rules and regulations thereunder that
and Trading Activity Change are applicable to a national securities
In its filing with the Commission, the exchange, and, in particular, with the
November 21, 2016.
Exchange included statements requirements of Section 6 of the Act.6
Correction concerning the purpose of and basis for Specifically, the Exchange believes that
In FR Document No. 2016–28458 the proposed rule change and discussed the proposed rule change is consistent
beginning on page 85650 for Monday, any comments it received on the with Sections 6(b)(4) of the Act of the
November 28, 2016 the 34 Release proposed rule change. The text of these Act [sic],7 in that it provides for the
number was incorrectly stated. The statements may be examined at the equitable allocation of reasonable dues,
correct number is 34–79361. places specified in Item IV below. The fees and other charges among members
Exchange has prepared summaries, set and other persons using any facility or
Robert W. Errett, forth in Sections A, B, and C below, of system which the Exchange operates or
Deputy Secretary. the most significant parts of such controls. The Exchange believes that the
[FR Doc. 2016–28925 Filed 12–1–16; 8:45 am] statements. proposed changes are reasonable and
BILLING CODE 8011–01–P equitable because they are intended to
A. Self-Regulatory Organization’s simplify the Exchange’s fee schedule
Statement of the Purpose of, and and provide greater transparency to
SECURITIES AND EXCHANGE Statutory Basis for, the Proposed Rule market participants regarding how the
COMMISSION Change Exchange assesses fees and calculates
1. Purpose rebates. The Exchange notes that these
[Release No. 34–79411; File No. SR– changes are purely clerical and do not
The Exchange proposes to make substantively amend any fee or rebate,
BatsEDGX–2016–66]
certain clarifying and non-substantive nor do they alter the manner in which
Self-Regulatory Organizations; Bats changes to its fee schedule in order to the Exchange assesses fees or calculates
EDGX Exchange, Inc.; Notice of Filing improve formatting, eliminate certain rebates. The Exchange also believes that
and Immediate Effectiveness of a redundancies, increase overall the proposal is non-discriminatory
readability, and provide users with
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Proposed Rule Change To Make Non- because it applies uniformly to all
Substantive Changes to the Fee straightforward descriptions to augment Members. Finally, the Exchange
Schedule believes that the proposed changes will
1 15 U.S.C. 78s(b)(1).
2 17
make the fee schedule clearer and
November 28, 2016. CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
eliminate potential investor confusion,
Pursuant to Section 19(b)(1) of the 4 17 CFR 240.19b–4(f)(2). thereby removing impediments to and
Securities Exchange Act of 1934 (the 5 A Member is defined as ‘‘any registered broker
6 15 U.S.C. 78f.
or dealer that has been admitted to membership in
12 17 CFR 200.30–3(a)(12). the Exchange.’’ See Exchange Rule 1.5(n). 7 15 U.S.C. 78f(b)(4).

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87112 Federal Register / Vol. 81, No. 232 / Friday, December 2, 2016 / Notices

perfecting the mechanism of a free and All submissions should refer to File notice is hereby given that on November
open market and a national market Number SR–BatsEDGX–2016–66. This 17, 2016, Bats EDGA Exchange, Inc. (the
system, and, in general, protecting file number should be included on the ‘‘Exchange’’ or ‘‘EDGA’’) filed with the
investors and the public interest. subject line if email is used. To help the Securities and Exchange Commission
Commission process and review your (‘‘Commission’’) the proposed rule
B. Self-Regulatory Organization’s
comments more efficiently, please use change as described in Items I and II
Statement on Burden on Competition
only one method. The Commission will below, which Items have been prepared
The Exchange does not believe that post all comments on the Commission’s by the Exchange. The Exchange has
the proposed rule change will result in Internet Web site (http://www.sec.gov/ designated this proposal as a ‘‘non-
any burden on competition that is not rules/sro.shtml). Copies of the controversial’’ proposed rule change
necessary or appropriate in furtherance submission, all subsequent pursuant to Section 19(b)(3)(A) of the
of the purposes of the Act, as amended. amendments, all written statements Act 3 and Rule 19b–4(f)(6)(iii)
To the contrary, the Exchange believes with respect to the proposed rule thereunder,4 which renders it effective
that the [sic] will not impose any change that are filed with the upon filing with the Commission. The
burden on competition as the changes Commission, and all written Commission is publishing this notice to
are purely clerical and do not amend communications relating to the solicit comments on the proposed rule
and [sic] fee or rebate. proposed rule change between the change from interested persons.
C. Self-Regulatory Organization’s Commission and any person, other than
I. Self-Regulatory Organization’s
Statement on Comments on the those that may be withheld from the
Statement of the Terms of Substance of
Proposed Rule Change Received From public in accordance with the
the Proposed Rule Change
Members, Participants, or Others provisions of 5 U.S.C. 552, will be
available for Web site viewing and The Exchange filed a proposal to
The Exchange has not solicited, and printing in the Commission’s Public make a ministerial change to Exchange
does not intend to solicit, comments on Reference Room, 100 F Street NE., Rules 11.10(a)(4)(D), 11.14(g)(4), and
this proposed rule change. The Washington, DC 20549 on official 11.21(a)(7)(A)(i)(2).
Exchange has not received any written business days between the hours of The text of the proposed rule change
comments from members or other 10:00 a.m. and 3:00 p.m. Copies of such is available at the Exchange’s Web site
interested parties. filing also will be available for at www.batstrading.com, at the
III. Date of Effectiveness of the inspection and copying at the principal principal office of the Exchange, and at
Proposed Rule Change and Timing for office of the Exchange. All comments the Commission’s Public Reference
Commission Action received will be posted without change; Room.
the Commission does not edit personal II. Self-Regulatory Organization’s
The foregoing rule change has become
identifying information from Statement of the Purpose of, and
effective pursuant to Section 19(b)(3)(A)
submissions. You should submit only Statutory Basis for, the Proposed Rule
of the Act 8 and paragraph (f) of Rule
information that you wish to make Change
19b–4 thereunder.9 At any time within
available publicly. All submissions
60 days of the filing of the proposed rule In its filing with the Commission, the
should refer to File Number SR–
change, the Commission summarily may Exchange included statements
BatsEDGX–2016–66, and should be
temporarily suspend such rule change if concerning the purpose of and basis for
submitted on or before December 23,
it appears to the Commission that such the proposed rule change and discussed
2016.
action is necessary or appropriate in the any comments it received on the
public interest, for the protection of For the Commission, by the Division of proposed rule change. The text of these
investors, or otherwise in furtherance of Trading and Markets, pursuant to delegated statements may be examined at the
authority.10
the purposes of the Act. places specified in Item IV below. The
Robert W. Errett,
IV. Solicitation of Comments Exchange has prepared summaries, set
Deputy Secretary. forth in Sections A, B, and C below, of
Interested persons are invited to [FR Doc. 2016–28933 Filed 12–1–16; 8:45 am] the most significant parts of such
submit written data, views, and BILLING CODE 8011–01–P statements.
arguments concerning the foregoing,
including whether the proposed rule A. Self-Regulatory Organization’s
change is consistent with the Act. SECURITIES AND EXCHANGE Statement of the Purpose of, and the
Comments may be submitted by any of COMMISSION Statutory Basis for, the Proposed Rule
the following methods: Change
[Release No. 34–79412; File No. SR–
Electronic Comments BatsEDGA–2016–28] 1. Purpose
• Use the Commission’s Internet The Exchange proposes to make a
Self-Regulatory Organizations; Bats
comment form (http://www.sec.gov/ ministerial change to Exchange Rules
EDGA Exchange, Inc.; Notice of Filing
rules/sro.shtml); or 11.10(a)(4)(D), 11.14(g)(4), and
and Immediate Effectiveness of a
• Send an email to rule-comments@ 11.21(a)(7)(A)(i)(2). First, the Exchange
Proposed Rule Change To Make a
sec.gov. Please include File Number SR– proposes to amend Rule 11.10(a)(4)(D)
Ministerial Change to Exchange Rules
BatsEDGX–2016–66 on the subject line. to correct a typographical error by
11.10, 11.14, and 11.21
asabaliauskas on DSK3SPTVN1PROD with NOTICES

replacing EDGX with EDGA. Second,
Paper Comments November 28, 2016. the Exchange proposes to remove an
• Send paper comments in triplicate Pursuant to Section 19(b)(1) of the erroneous reference to Rule 11.12
to Secretary, Securities and Exchange Securities Exchange Act of 1934 (the within Rule 11.14(g)(4). The Exchange
Commission, 100 F Street NE., ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notes that it previously revised Chapter
Washington, DC 20549–1090. XI of its rules, including the
10 17 CFR 200.30–3(a)(12).
8 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). 3 15 U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. 4 17 CFR 240.19b–4(f)(6)(iii).

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Document Created: 2018-02-14 09:01:52
Document Modified: 2018-02-14 09:01:52
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 87111