81 FR 89523 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Provide That the Exchange Would Not Be Required To Report to The Securities Information Processor an Official Closing Price, as Defined Under Rule 123C(1)(e)(i), as an “M” Sale Condition
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 238 (December 12, 2016)
Federal Register Volume 81, Issue 238 (December 12, 2016)
| Page Range | 89523-89525 | |
| FR Document | 2016-29650 |
[Federal Register Volume 81, Number 238 (Monday, December 12, 2016)] [Notices] [Pages 89523-89525] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-29650] ======================================================================= ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79478; File No. SR-NYSE-2016-75] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Provide That the Exchange Would Not Be Required To Report to The Securities Information Processor an Official Closing Price, as Defined Under Rule 123C(1)(e)(i), as an ``M'' Sale Condition December 6, 2016. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that on November 23, 2016, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes this rule change to provide that the Exchange would not be required to report to the securities information processor an Official Closing Price, as defined under Rule 123C(1)(e)(i), as an ``M'' sale condition. The proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange is proposing to provide that the Exchange would not be required to report to the securities information processor (``SIP'') an Official Closing Price, as defined under Rule 123C(1)(e)(i), as an ``M'' sale condition.\4\ This proposed rule change would not change how the Official Closing Price would be determined and disseminated if the Exchange is unable to conduct a closing transaction in one or more securities due to a systems or technical issue, as described in Rules 123C(1)(e)(ii)-(iv). --------------------------------------------------------------------------- \4\ For a description of all sale conditions that are reportable to the SIP, including the ``M'' and ``6'' sale conditions, see the Consolidated Tape System Participant Communications Interface Specification, dated September 15, 2016, at 87 (``SIP Specifications''), available here: https://www.ctaplan.com/publicdocs/ctaplan/notifications/trader-update/cts_input_spec.pdf. --------------------------------------------------------------------------- As set forth in the SIP Specifications, a price reported to the SIP by an exchange under the ``M'' sale condition, which is called the ``Market Center Official Close,'' is not used for purposes of determining a consolidated last sale price or the high or low price of a security and does not include any volume information. Each exchange determines what price could be reported to the SIP as its ``Market Center Official Close.'' To date, the Exchange has not reported to the SIP a price with an ``M'' sale condition. By contrast, a trade reported to the SIP as a Market Center Closing Trade with a ``6'' sale condition includes volume information, is included in the consolidated last sale, and is included in the high or low price of a security. The Exchange reports to the SIP closing auction trades of a round lot or more with a ``6'' sale condition.\5\ --------------------------------------------------------------------------- \5\ For example, under Rule 123C(1)(e)(i), if there were no closing transaction in a security or if a closing transaction is less than one round lot, the Exchange's Official Closing Price will be the most recent last-sale eligible trade on the Exchange in such security on that trading day. By contrast, on NYSE Arca, Inc., under the same circumstances, the Official Closing Price will be the most recent consolidated last sale eligible trade during Core Trading Hours on that trading day. See NYSE Arca Equities, Inc. Rule 1.1(gg)(1)(A). --------------------------------------------------------------------------- Recently, the Exchange amended Rule 123C(1)(e) to specify back-up procedures for determining an Official Closing Price for Exchange- listed securities if it is unable to conduct a closing transaction in one or more securities due to a systems or technical issue.\6\ In that Filing, the Exchange noted that once it implemented changes to how the Exchange determines the Official Closing Price, the Exchange ``will disseminate to the SIP the Official Closing Price as an ``M'' value.'' \7\ --------------------------------------------------------------------------- \6\ See Securities Exchange Act Release Nos. 78015 (June 8, 2016), 81 FR 38747 (June 14, 2016) (SR-NYSE-2016-18; SR-NYSEMKT- 2016-31) (Approval Order) and 77305 (March 7, 2016), 81 FR 12977 (March 11, 2016) (Notice of Filing). \7\ See id. at 12978. See also Securities Exchange Act Release No. 76598 (December 9, 2015), 80 FR 77688 (December 15, 2015) (SR- NYSE-2015-62) (Notice of Filing and Immediate Effectiveness of Proposed Rule Change to define the term ``Official Closing Price''). --------------------------------------------------------------------------- With this proposed rule change, the Exchange is modifying this statement to permit, but not require, the Exchange to report a price with an ``M'' sale condition to the SIP when the Official Closing Price is determined under Rule 123C(1)(e)(i). Specifically, the Exchange does not believe that it should publish an Official Closing Price to the SIP as an ``M'' value if there has not been a last-sale eligible trade in a security on a trading day. For example, based on feedback from industry participants, the Exchange understands that certain market participants, such as index providers and mutual funds, follow a different method of determining a security's closing price when there have not been any last-sale eligible trades on a trading day. Under these circumstances, the Exchange understands that an Official Closing Price reported to the SIP as an ``M'' sale condition that differs from how an industry market participant may determine such value for its own purposes could lead to confusion if a market participant's systems read the ``M'' value published by the SIP that differs from their calculation. Accordingly, this proposed rule change is intended to provide that the Exchange would not be required to publish an Official Closing Price, as defined in Rule 123C(1)(e)(i), as an ``M'' sale condition to the SIP. And, as noted above, this proposed rule change would not alter how the Official Closing Price [[Page 89524]] would be disseminated under Rules 123C(1)(e)(ii)-(iv). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\8\ in general, and furthers the objectives of Section 6(b)(5) of the Act,\9\ in particular, in that it is 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 facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule change would remove impediments to and perfect the mechanism of a free and open market and a national market system because it would provide transparency that the Exchange's is not required to report a price to the SIP as an ``M'' sale condition. The Exchange believes that the proposed rule change is consistent with the Act because the ``M'' sale condition does not contribute to the consolidated last sale price for a security, the high or low price of a security, or reported volume for a security, and therefore is an informational value. The Exchange further believes that this proposed rule change is consistent with the protection of investors and the public interest because it would reduce confusion by eliminating publication to the SIP of a price that may conflict with how an index provider or mutual fund determines that value for a security if there are no last-sale eligible trades on a trading day. Finally, the Exchange believes that the proposed rule change would remove impediments to and perfect the mechanism of a free and open market and a national market system because it would apply only when the Exchange is fully operational. If the Exchange is unable to conduct a closing transaction due to a systems or technical issue, current Rule 123C(1)(ii)--(iv) would govern, with no change. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is not designed to address any competitive issues, but rather to specify that the Exchange would not be required to report an Official Closing Price to the SIP as an ``M'' sale condition if there has not been a last-sale eligible trade on a trading day. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \10\ and Rule 19b-4(f)(6) thereunder.\11\ Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b- 4(f)(6)(iii) thereunder. --------------------------------------------------------------------------- \10\ 15 U.S.C. 78s(b)(3)(A)(iii). \11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange's intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),\13\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange believes that waiving the operative delay would be consistent with the protection of investors and the public interest because it would make transparent that the Exchange would not report an ``M'' sale condition to the SIP for a security if there has not been a last-sale eligible trade on a trading day. The Exchange further believes that the proposed rule change is consistent with the protection of investors and the public interest because it would not change how an Official Closing Price would be disseminated under Exchange Rule 123C(1)(e)(ii)-(iv). The Commission believes that the proposed rule change is consistent with the protection of investors and the public interest because it clarifies the Exchange's reporting practices while maintaining its procedures for reporting and disseminating an Official Closing Price. Accordingly, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.\14\ --------------------------------------------------------------------------- \12\ 17 CFR 240.19b-4(f)(6). \13\ 17 CFR 240.19b-4(f)(6)(iii). \14\ For purposes only of waiving the operative delay of this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) \15\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-NYSE-2016-75 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 20549-1090. All submissions should refer to File Number SR-NYSE-2016-75. 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 [[Page 89525]] 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 the 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-NYSE-2016-75 and should be submitted on or before January 3, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\16\ --------------------------------------------------------------------------- \16\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2016-29650 Filed 12-9-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 238 / Monday, December 12, 2016 / Notices 89523
Dana.Hickman@RRB.GOV. Comments II. Self-Regulatory Organization’s Recently, the Exchange amended Rule
regarding the information collection Statement of the Purpose of, and 123C(1)(e) to specify back-up
should be addressed to Brian Foster, Statutory Basis for, the Proposed Rule procedures for determining an Official
Railroad Retirement Board, 844 North Change Closing Price for Exchange-listed
Rush Street, Chicago, Illinois 60611– In its filing with the Commission, the securities if it is unable to conduct a
1275 or emailed to Brian.Foster@ self-regulatory organization included closing transaction in one or more
RRB.GOV. Written comments should be statements concerning the purpose of, securities due to a systems or technical
received within 60 days of this notice. and basis for, the proposed rule change issue.6 In that Filing, the Exchange
and discussed any comments it received noted that once it implemented changes
Brian D. Foster, to how the Exchange determines the
on the proposed rule change. The text
Clearance Officer. of those statements may be examined at Official Closing Price, the Exchange
[FR Doc. 2016–29602 Filed 12–9–16; 8:45 am] the places specified in Item IV below. ‘‘will disseminate to the SIP the Official
BILLING CODE 7905–01–P The Exchange has prepared summaries, Closing Price as an ‘‘M’’ value.’’ 7
set forth in sections A, B, and C below, With this proposed rule change, the
of the most significant parts of such Exchange is modifying this statement to
statements. permit, but not require, the Exchange to
SECURITIES AND EXCHANGE report a price with an ‘‘M’’ sale
A. Self-Regulatory Organization’s condition to the SIP when the Official
COMMISSION
Statement of the Purpose of, and the Closing Price is determined under Rule
Statutory Basis for, the Proposed Rule 123C(1)(e)(i). Specifically, the Exchange
[Release No. 34–79478; File No. SR–NYSE– Change does not believe that it should publish
2016–75]
1. Purpose an Official Closing Price to the SIP as an
Self-Regulatory Organizations; New ‘‘M’’ value if there has not been a last-
The Exchange is proposing to provide
York Stock Exchange LLC; Notice of sale eligible trade in a security on a
that the Exchange would not be required
Filing and Immediate Effectiveness of trading day. For example, based on
to report to the securities information
Proposed Rule Change To Provide feedback from industry participants, the
processor (‘‘SIP’’) an Official Closing
That the Exchange Would Not Be Exchange understands that certain
Price, as defined under Rule
market participants, such as index
Required To Report to The Securities 123C(1)(e)(i), as an ‘‘M’’ sale condition.4
providers and mutual funds, follow a
Information Processor an Official This proposed rule change would not
change how the Official Closing Price different method of determining a
Closing Price, as Defined Under Rule
would be determined and disseminated security’s closing price when there have
123C(1)(e)(i), as an ‘‘M’’ Sale Condition
if the Exchange is unable to conduct a not been any last-sale eligible trades on
December 6, 2016. closing transaction in one or more a trading day. Under these
securities due to a systems or technical circumstances, the Exchange
Pursuant to Section 19(b)(1) 1 of the understands that an Official Closing
Securities Exchange Act of 1934 (the issue, as described in Rules
123C(1)(e)(ii)–(iv). Price reported to the SIP as an ‘‘M’’ sale
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 condition that differs from how an
notice is hereby given that on November As set forth in the SIP Specifications,
a price reported to the SIP by an industry market participant may
23, 2016, New York Stock Exchange determine such value for its own
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed exchange under the ‘‘M’’ sale condition,
which is called the ‘‘Market Center purposes could lead to confusion if a
with the Securities and Exchange market participant’s systems read the
Official Close,’’ is not used for purposes
Commission (the ‘‘Commission’’) the ‘‘M’’ value published by the SIP that
of determining a consolidated last sale
proposed rule change as described in differs from their calculation.
price or the high or low price of a
Items I and II below, which Items have security and does not include any Accordingly, this proposed rule
been prepared by the self-regulatory volume information. Each exchange change is intended to provide that the
organization. The Commission is determines what price could be reported Exchange would not be required to
publishing this notice to solicit to the SIP as its ‘‘Market Center Official publish an Official Closing Price, as
comments on the proposed rule change Close.’’ To date, the Exchange has not defined in Rule 123C(1)(e)(i), as an ‘‘M’’
from interested persons. reported to the SIP a price with an ‘‘M’’ sale condition to the SIP. And, as noted
sale condition. above, this proposed rule change would
I. Self-Regulatory Organization’s
By contrast, a trade reported to the not alter how the Official Closing Price
Statement of the Terms of Substance of
the Proposed Rule Change SIP as a Market Center Closing Trade
with a ‘‘6’’ sale condition includes closing transaction is less than one round lot, the
Exchange’s Official Closing Price will be the most
The Exchange proposes this rule volume information, is included in the recent last-sale eligible trade on the Exchange in
change to provide that the Exchange consolidated last sale, and is included such security on that trading day. By contrast, on
would not be required to report to the in the high or low price of a security. NYSE Arca, Inc., under the same circumstances, the
The Exchange reports to the SIP closing Official Closing Price will be the most recent
securities information processor an consolidated last sale eligible trade during Core
Official Closing Price, as defined under auction trades of a round lot or more Trading Hours on that trading day. See NYSE Arca
Rule 123C(1)(e)(i), as an ‘‘M’’ sale with a ‘‘6’’ sale condition.5 Equities, Inc. Rule 1.1(gg)(1)(A).
6 See Securities Exchange Act Release Nos. 78015
condition. The proposed rule change is
4 For a description of all sale conditions that are (June 8, 2016), 81 FR 38747 (June 14, 2016) (SR–
available on the Exchange’s Web site at
mstockstill on DSK3G9T082PROD with NOTICES
reportable to the SIP, including the ‘‘M’’ and ‘‘6’’ NYSE–2016–18; SR–NYSEMKT–2016–31)
www.nyse.com, at the principal office of sale conditions, see the Consolidated Tape System (Approval Order) and 77305 (March 7, 2016), 81 FR
the Exchange, and at the Commission’s Participant Communications Interface 12977 (March 11, 2016) (Notice of Filing).
Public Reference Room. Specification, dated September 15, 2016, at 87 (‘‘SIP 7 See id. at 12978. See also Securities Exchange
Specifications’’), available here: https://www. Act Release No. 76598 (December 9, 2015), 80 FR
ctaplan.com/publicdocs/ctaplan/notifications/ 77688 (December 15, 2015) (SR–NYSE–2015–62)
1 15 U.S.C. 78s(b)(1). trader-update/cts_input_spec.pdf. (Notice of Filing and Immediate Effectiveness of
2 15 U.S.C. 78a. 5 For example, under Rule 123C(1)(e)(i), if there Proposed Rule Change to define the term ‘‘Official
3 17 CFR 240.19b–4. were no closing transaction in a security or if a Closing Price’’).
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![Federal Register / Vol. 81, No. 238 / Monday, December 12, 2016 / Notices 89525
Internet Web site (http://www.sec.gov/ amend NYSE Arca Equities Rules 7.35 SECURITIES AND EXCHANGE
rules/sro.shtml). Copies of the (Auctions), 7.10 (Clearly Erroneous COMMISSION
submission, all subsequent Executions), 7.31 (Orders and
[Release No. 34–79486; File No. SR–BOX–
amendments, all written statements Modifiers), and 7.11 (Limit Up—Limit 2016–54]
with respect to the proposed rule Down Plan and Trading Pauses in
change that are filed with the Individual Securities Due to Self-Regulatory Organizations; BOX
Commission, and all written Extraordinary Market Volatility). The Options Exchange LLC; Notice of
communications relating to the proposed rule change was published for Filing and Immediate Effectiveness of
proposed rule change between the comment in the Federal Register on a Proposed Rule Change To Amend
Commission and any person, other than the Fee Schedule on the BOX Market
October 24, 2016.3 The Commission
those that may be withheld from the LLC (‘‘BOX’’) Options Facility
received no comments on the proposed
public in accordance with the
provisions of 5 U.S.C. 552, will be rule change. December 6, 2016.
available for Web site viewing and Section 19(b)(2) of the Act 4 provides Pursuant to Section 19(b)(1) of the
printing in the Commission’s Public that, within 45 days of the publication Securities Exchange Act of 1934 (the
Reference Room, 100 F Street NE., of notice of the filing of a proposed rule ‘‘Act’’),1 and Rule 19b–4 thereunder,2
Washington, DC 20549 on official change, or within such longer period up notice is hereby given that on November
business days between the hours of to 90 days as the Commission may 23, 2016, BOX Options Exchange LLC
10:00 a.m. and 3:00 p.m. Copies of the designate if it finds such longer period (the ‘‘Exchange’’) filed with the
filing also will be available for to be appropriate and publishes its Securities and Exchange Commission
inspection and copying at the principal reasons for so finding or as to which the (‘‘Commission’’) the proposed rule
office of the Exchange. All comments self-regulatory organization consents, change as described in Items I, II, and
received will be posted without change; the Commission shall either approve the III below, which Items have been
the Commission does not edit personal proposed rule change, disapprove the prepared by the Exchange. The
identifying information from proposed rule change, or institute Exchange filed the proposed rule change
submissions. You should submit only pursuant to Section 19(b)(3)(A)(ii) of the
proceedings to determine whether the
information that you wish to make Act,3 and Rule 19b–4(f)(2) thereunder,4
available publicly. All submissions proposed rule change should be
which renders the proposal effective
should refer to File Number SR–NYSE– disapproved. The 45th day after
upon filing with the Commission. The
2016–75 and should be submitted on or publication of the notice for this
Commission is publishing this notice to
before January 3, 2017. proposed rule change is December 8,
solicit comments on the proposed rule
2016. The Commission is extending this change from interested persons.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated 45-day time period.
authority.16 The Commission finds that it is I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
Eduardo A. Aleman, appropriate to designate a longer period
of the Proposed Rule Change
Assistant Secretary. within which to take action on the
[FR Doc. 2016–29650 Filed 12–9–16; 8:45 am] proposed rule change so that it has The Exchange is filing with the
BILLING CODE 8011–01–P sufficient time to consider the proposed Securities and Exchange Commission
rule change. Accordingly, the (‘‘Commission’’) a proposed rule change
Commission, pursuant to Section to amend the Fee Schedule on the BOX
SECURITIES AND EXCHANGE 19(b)(2) of the Act,5 designates January Market LLC (‘‘BOX’’) options facility.
COMMISSION 22, 2017 as the date by which the While changes to the fee schedule
pursuant to this proposal will be
[Release No. 34–79480; File No. SR– Commission shall either approve or
effective upon filing, the changes will
NYSEArca–2016–130] disapprove or institute proceedings to
become operative on December 1, 2016.
determine whether to disapprove the
Self-Regulatory Organizations; NYSE The text of the proposed rule change is
proposed rule change (File Number SR– available from the principal office of the
Arca, Inc.; Notice of Designation of a NYSEArca–2016–130).
Longer Period for Commission Action Exchange, at the Commission’s Public
on Proposed Rule Change Amending For the Commission, by the Division of Reference Room and also on the
NYSE Arca Equities Rules 7.35 Trading and Markets, pursuant to delegated Exchange’s Internet Web site at http://
(Auctions), 7.10 (Clearly Erroneous authority.6 boxexchange.com.
Executions), 7.31 (Orders and Eduardo A. Aleman, II. Self-Regulatory Organization’s
Modifiers), and 7.11 (Limit Up—Limit Assistant Secretary. Statement of the Purpose of, and
Down Plan and Trading Pauses in [FR Doc. 2016–29652 Filed 12–9–16; 8:45 am] Statutory Basis for, the Proposed Rule
Individual Securities Due to BILLING CODE 8011–01–P Change
Extraordinary Market Volatility)
In its filing with the Commission, the
December 6, 2016. Exchange included statements
On October 4, 2016, NYSE Arca, Inc. concerning the purpose of and basis for
(‘‘NYSE Arca’’) filed with the Securities the proposed rule change and discussed
and Exchange Commission any comments it received on the
mstockstill on DSK3G9T082PROD with NOTICES
(‘‘Commission’’), pursuant to Section proposed rule change. The text of these
19(b)(1) of the Securities Exchange Act statements may be examined at the
of 1934 (‘‘Act’’) 1 and Rule 19b–4 places specified in Item IV below. The
thereunder,2 a proposed rule change to 3 See Securities Exchange Act Release No. 79107
(October 18, 2016), 81 FR 73159. 1 15 U.S.C. 78s(b)(1).
16 17 4 15 U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4.
1 15 U.S.C. 78s(b)(1). 5 Id. 3 15 U.S.C. 78s(b)(3)(A)(ii).
2 17 CFR 240.19b–4. 6 17 CFR 200.30–3(a)(31). 4 17 CFR 240.19b–4(f)(2).
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Document Created: 2018-02-14 09:05:49
Document Modified: 2018-02-14 09:05:49
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