81 FR 88281 - 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 Equity Options Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 235 (December 7, 2016)

Page Range		88281-88282
FR Document		2016-29282
Federal Register, Volume 81 Issue 235 (Wednesday, December 7, 2016)
[Federal Register Volume 81, Number 235 (Wednesday, December 7, 2016)]
[Notices]
[Pages 88281-88282]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-29282]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79438; File No. SR-BatsEDGX-2016-67]


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 Equity Options Fee Schedule

December 1, 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 modify its fee schedule applicable to the 
Exchange's equity options platform (``EDGX Options'') 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:
     Alphabetize defined terms under the ``Definitions'' 
section; \6\
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    \6\ The Exchange does not propose to alphabetize the definitions 
under the Market Data section of its fee schedule as those terms are 
generally grouped with similar terms.
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     amend footnote 3 to include the word ``Tier'' at the end 
of its title;
     amend the title of the column setting forth each tier's 
rate to simply state ``Fee Per Contract'', ``Rebate Per Contract'' or 
``Fee/Rebate Per Contract''), as applicable. Renaming these columns is 
intended to clearly indicate whether the footnote provides a fee and/or 
a rebate. In renaming these columns, the Exchange also proposes to 
remove certain other descriptive language as such language is redundant 
and set forth in the tier's title and list of its applicable fee codes;
     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;
     replace the phrase ``equal to or greater than'' with 
``>='' in all required criteria cells under footnote 1, 2, 3, and 4.
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

[[Page 88282]]

requirements of Section 6 of the Act.\7\ Specifically, the Exchange 
believes that the proposed rule change is consistent with Sections 
6(b)(4) of the Act of the Act [sic],\8\ 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 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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    \7\ 15 U.S.C. 78f.
    \8\ 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 \9\ and paragraph (f) of Rule 19b-4 
thereunder.\10\ 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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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 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-2016-67 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-2016-67. 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-2016-67, and should 
be submitted on or before December 28, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Lynn Powalski,
Deputy Secretary.
[FR Doc. 2016-29282 Filed 12-6-16; 8:45 am]
 BILLING CODE 8011-01-P
Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices 88281

Paper Comments SECURITIES AND EXCHANGE the most significant parts of such
COMMISSION statements.
• Send paper comments in triplicate
to Secretary, Securities and Exchange [Release No. 34–79438; File No. SR– A. Self-Regulatory Organization’s
Commission, 100 F Street NE., BatsEDGX–2016–67] Statement of the Purpose of, and
Washington, DC 20549–1090. Statutory Basis for, the Proposed Rule
Self-Regulatory Organizations; Bats Change
All submissions should refer to File EDGX Exchange, Inc.; Notice of Filing
Number SR–BX–2016–065. This file and Immediate Effectiveness of a 1. Purpose
number should be included on the Proposed Rule Change To Make Non- The Exchange proposes to modify its
subject line if email is used. To help the Substantive Changes to the Equity fee schedule applicable to the
Commission process and review your Options Fee Schedule Exchange’s equity options platform
comments more efficiently, please use (‘‘EDGX Options’’) to make certain
December 1, 2016. clarifying and non-substantive changes
only one method. The Commission will
Pursuant to Section 19(b)(1) of the to its fee schedule in order to improve
post all comments on the Commission’s
Securities Exchange Act of 1934 (the formatting, eliminate certain
Internet Web site (http://www.sec.gov/ ‘‘Act’’),1 and Rule 19b–4 thereunder,2
rules/sro.shtml). Copies of the redundancies, increase overall
notice is hereby given that on November readability, and provide users with
submission, all subsequent 18, 2016, Bats EDGX Exchange, Inc. (the straightforward descriptions to augment
amendments, all written statements ‘‘Exchange’’ or ‘‘EDGX’’) filed with the overall comprehensibility and usability
with respect to the proposed rule Securities and Exchange Commission of the existing fee schedule. The
change that are filed with the (the ‘‘Commission’’) the proposed rule Exchange notes that these changes are
Commission, and all written change as described in Items I, II, and purely clerical and do not substantively
communications relating to the III below, which Items have been amend any fee or rebate, nor do they
proposed rule change between the prepared by the Exchange. The alter the manner in which the Exchange
Commission and any person, other than Exchange has designated the proposed assesses fees or calculates rebates. The
those that may be withheld from the rule change as one establishing or proposed changes are simply intended
public in accordance with the changing a member due, fee, or other to provide greater transparency to
provisions of 5 U.S.C. 552, will be charge imposed by the Exchange under market participants regarding how the
available for Web site viewing and Section 19(b)(3)(A)(ii) of the Act 3 and Exchange assesses fees and calculates
printing in the Commission’s Public Rule 19b–4(f)(2) thereunder,4 which rebates. Specifically, the Exchange
Reference Room, 100 F Street NE., renders the proposed rule change proposes to:
Washington, DC 20549, on official effective upon filing with the • Alphabetize defined terms under
business days between the hours of Commission. The Commission is the ‘‘Definitions’’ section; 6
10:00 a.m. and 3:00 p.m. Copies of the publishing this notice to solicit • amend footnote 3 to include the
filing also will be available for comments on the proposed rule change word ‘‘Tier’’ at the end of its title;
inspection and copying at the principal from interested persons. • amend the title of the column
office of the Exchange. All comments setting forth each tier’s rate to simply
I. Self-Regulatory Organization’s
received will be posted without change; state ‘‘Fee Per Contract’’, ‘‘Rebate Per
Statement of the Terms of the Substance
Contract’’ or ‘‘Fee/Rebate Per Contract’’),
the Commission does not edit personal of the Proposed Rule Change
as applicable. Renaming these columns
identifying information from The Exchange filed a proposal to is intended to clearly indicate whether
submissions. You should submit only make several non-substantive changes to the footnote provides a fee and/or a
information that you wish to make the fee schedule applicable to rebate. In renaming these columns, the
available publicly. All submissions Members 5 and non-members of the Exchange also proposes to remove
should refer to File Number SR–BX– Exchange pursuant to Exchange Rules certain other descriptive language as
2016–065 and should be submitted on 15.1(a) and (c). such language is redundant and set forth
or before December 28, 2016. in the tier’s title and list of its applicable
II. Self-Regulatory Organization’s
For the Commission, by the Division of Statement of the Purpose of, and fee codes;
Trading and Markets, pursuant to delegated Statutory Basis for, the Proposed Rule • ensure each tier requiring multiple
authority.21 Change criteria is conjoined using ‘‘; and’’ to
clarify that all of a tier’s criteria must be
In its filing with the Commission, the satisfied to receive the applicable rate;
Brent J. Fields,
Exchange included statements • replace the phrase ‘‘equal to or
Secretary. concerning the purpose of and basis for greater than’’ with ‘‘≥’’ in all required
[FR Doc. 2016–29291 Filed 12–6–16; 8:45 am] the proposed rule change and discussed criteria cells under footnote 1, 2, 3, and
BILLING CODE 8011–01–P any comments it received on the 4.
proposed rule change. The text of these
statements may be examined at the 2. Statutory Basis
places specified in Item IV below. The The Exchange believes that the
Exchange has prepared summaries, set proposed rule change is consistent with
asabaliauskas on DSK3SPTVN1PROD with NOTICES

forth in Sections A, B, and C below, of the requirements of the Act and the
rules and regulations thereunder that
1 15 U.S.C. 78s(b)(1). are applicable to a national securities
2 17 CFR 240.19b–4. exchange, and, in particular, with the
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2). 6 The Exchange does not propose to alphabetize
5 A Member is defined as ‘‘any registered broker the definitions under the Market Data section of its
or dealer that has been admitted to membership in fee schedule as those terms are generally grouped
21 17 CFR 200.30–3(a)(12), (59). the Exchange.’’ See Exchange Rule 1.5(n). with similar terms.

VerDate Sep<11>2014 17:54 Dec 06, 2016 Jkt 241001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 E:\FR\FM\07DEN1.SGM 07DEN1
88282 Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices

requirements of Section 6 of the Act.7 19b–4 thereunder.10 At any time within available publicly. All submissions
Specifically, the Exchange believes that 60 days of the filing of the proposed rule should refer to File Number SR–
the proposed rule change is consistent change, the Commission summarily may BatsEDGX–2016–67, and should be
with Sections 6(b)(4) of the Act of the temporarily suspend such rule change if submitted on or before December 28,
Act [sic],8 in that it provides for the it appears to the Commission that such 2016.
equitable allocation of reasonable dues, action is necessary or appropriate in the For the Commission, by the Division of
fees and other charges among members public interest, for the protection of Trading and Markets, pursuant to delegated
and other persons using any facility or investors, or otherwise in furtherance of authority.11
system which the Exchange operates or the purposes of the Act. Lynn Powalski,
controls. The Exchange believes that the IV. Solicitation of Comments Deputy Secretary.
proposed changes are reasonable and [FR Doc. 2016–29282 Filed 12–6–16; 8:45 am]
equitable because they are intended to Interested persons are invited to
simplify the Exchange’s fee schedule submit written data, views, and BILLING CODE 8011–01–P

and provide greater transparency to arguments concerning the foregoing,
market participants regarding how the including whether the proposed rule
change is consistent with the Act. SECURITIES AND EXCHANGE
Exchange assesses fees and calculates COMMISSION
rebates. The Exchange notes that these Comments may be submitted by any of
changes are purely clerical and do not the following methods: [Release No. 34–79441; File No. SR–C2–
substantively amend any fee or rebate, Electronic Comments 2016–023]
nor do they alter the manner in which
• Use the Commission’s Internet Self-Regulatory Organizations; C2
the Exchange assesses fees or calculates
comment form (http://www.sec.gov/ Options Exchange, Incorporated;
rebates. The Exchange also believes that rules/sro.shtml); or
the proposal is non-discriminatory Notice of Filing and Immediate
• Send an email to rule-comments@ Effectiveness of a Proposed Rule
because it applies uniformly to all sec.gov. Please include File Number SR-
Members. Finally, the Exchange Change Relating to the Penny Pilot
BatsEDGX–2016–67 on the subject line. Program
believes that the proposed changes will
make the fee schedule clearer and Paper Comments December 1, 2016.
eliminate potential investor confusion, • Send paper comments in triplicate Pursuant to Section 19(b)(1) of the
thereby removing impediments to and to Secretary, Securities and Exchange Securities Exchange Act of 1934 (the
perfecting the mechanism of a free and Commission, 100 F Street NE., ‘‘Act’’),1 and Rule 19b–4 thereunder,2
open market and a national market Washington, DC 20549–1090. notice is hereby given that on November
system, and, in general, protecting All submissions should refer to File 23, 2016, C2 Options Exchange,
investors and the public interest. Number SR–BatsEDGX–2016–67. This Incorporated (the ‘‘Exchange’’ or ‘‘C2’’)
B. Self-Regulatory Organization’s file number should be included on the filed with the Securities and Exchange
Statement on Burden on Competition subject line if email is used. To help the Commission (the ‘‘Commission’’) the
Commission process and review your proposed rule change as described in
The Exchange does not believe that comments more efficiently, please use Items I and II below, which Items have
the proposed rule change will result in only one method. The Commission will been prepared by the Exchange. The
any burden on competition that is not post all comments on the Commission’s Exchange filed the proposal as a ‘‘non-
necessary or appropriate in furtherance Internet Web site (http://www.sec.gov/ controversial’’ proposed rule change
of the purposes of the Act, as amended. rules/sro.shtml). Copies of the pursuant to Section 19(b)(3)(A)(iii) of
To the contrary, the Exchange believes submission, all subsequent the Act 3 and Rule 19b–4(f)(6)
that the [sic] will not impose any amendments, all written statements thereunder.4 The Commission is
burden on competition as the changes with respect to the proposed rule publishing this notice to solicit
are purely clerical and do not amend change that are filed with the comments on the proposed rule change
and [sic] fee or rebate. Commission, and all written from interested persons.
C. Self-Regulatory Organization’s communications relating to the
proposed rule change between the I. Self-Regulatory Organization’s
Statement on Comments on the Statement of the Terms of Substance of
Proposed Rule Change Received From Commission and any person, other than
those that may be withheld from the the Proposed Rule Change
Members, Participants, or Others
public in accordance with the The Exchange proposes to extend the
The Exchange has not solicited, and provisions of 5 U.S.C. 552, will be operation of Penny Pilot Program
does not intend to solicit, comments on available for Web site viewing and through June 30, 2017. The text of the
this proposed rule change. The printing in the Commission’s Public proposed rule change is provided
Exchange has not received any written Reference Room, 100 F Street NE., below.
comments from members or other Washington, DC 20549 on official (additions are italicized; deletions are
interested parties. business days between the hours of [bracketed])
10:00 a.m. and 3:00 p.m. Copies of such * * * * *
III. Date of Effectiveness of the
filing also will be available for
Proposed Rule Change and Timing for C2 Options Exchange, Incorporated
inspection and copying at the principal
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Commission Action
office of the Exchange. All comments Rules
The foregoing rule change has become received will be posted without change; * * * * *
effective pursuant to Section 19(b)(3)(A) the Commission does not edit personal
of the Act 9 and paragraph (f) of Rule identifying information from 11 17 CFR 200.30–3(a)(12).
submissions. You should submit only 1 15 U.S.C. 78s(b)(1).
7 15 U.S.C. 78f. information that you wish to make 2 17 CFR 240.19b–4.
8 15 U.S.C. 78f(b)(4). 3 15 U.S.C. 78s(b)(3)(A)(iii).
9 15 U.S.C. 78s(b)(3)(A). 10 17 CFR 240.19b–4(f). 4 17 CFR 240.19b–4(f)(6).

VerDate Sep<11>2014 17:54 Dec 06, 2016 Jkt 241001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\07DEN1.SGM 07DEN1
Document Created: 2016-12-07 05:31:59
Document Modified: 2016-12-07 05:31:59
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 88281