81_FR_90250 81 FR 90011 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of the Exchange's Equities Options Platform

81 FR 90011 - Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of the Exchange's Equities Options Platform

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 239 (December 13, 2016)

Page Range90011-90012
FR Document2016-29802

Federal Register, Volume 81 Issue 239 (Tuesday, December 13, 2016) 
[Federal Register Volume 81, Number 239 (Tuesday, December 13, 2016)]
[Notices]
[Pages 90011-90012]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-29802]



[[Page 90011]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79497; File No. SR-BatsEDGX-2016-69]


Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change Related 
to Fees for Use of the Exchange's Equities Options Platform

December 7, 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 30, 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 amend the fee schedule applicable 
to Members \5\ and non-Members of the Exchange pursuant to EDGX Rules 
15.1(a) and (c).
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    \5\ The term ``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 amend its fee schedule for its equity 
options platform (``EDGX Options'') to modify the Exchange's routing 
fee code RR, as further described below. The Exchange currently charges 
flat rate routing fees for executions at away options exchanges \6\ 
that have been placed into groups based on the approximate cost of 
routing to such venues. The grouping of away options exchanges is based 
on the cost of transaction fees assessed by each venue as well as costs 
to the Exchange for routing (i.e., clearing fees, connectivity and 
other infrastructure costs, membership fees, etc.) (collectively, 
``Routing Costs'').
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    \6\ Other options exchanges to which the Exchange routes 
include: Bats BZX Exchange, Inc. (``BZX Options''), BOX Options 
Exchange LLC (``BOX''), Chicago Board Options Exchange, Inc. 
(``CBOE''), C2 Options Exchange, Inc. (``C2''), International 
Securities Exchange, Inc. (``ISE''), ISE Gemini, LLC (``ISE 
Gemini''), ISE Mercury, LLC (``ISE Mercury''), Miami International 
Securities Exchange, LLC (``MIAX''), Nasdaq Options Market LLC 
(``NOM''), Nasdaq OMX BX LLC (``BX Options''), Nasdaq OMX PHLX LLC 
(``PHLX''), NYSE Arca, Inc. (``ARCA''), and NYSE MKT LLC (``AMEX'').
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    With respect to Customer orders in Non-Penny Pilot Securities, the 
Exchange applies one of two fee codes: (1) Fee code RP, which results 
in a fee of $0.25 per contract and applies to all Customer orders 
(including orders in Penny Pilot Securities) routed to and executed at 
AMEX, BOX, BX Options, CBOE, ISE Mercury, MIAX or PHLX; or (2) fee code 
RR, which results in a fee of $1.00 per contract and applies to all 
Customer orders in Non-Penny Pilot Securities routed to and executed at 
ARCA, BZX Options, C2, ISE, ISE Gemini or NOM. The Exchange proposes to 
increase the fee under fee code RR from $1.00 per contract to $1.10 per 
contract to account for additional Routing Costs incurred by the 
Exchange. The Exchange does not propose any change to fee code RP.
    As set forth above, the Exchange's approach to routing fees is to 
set forth through the use of certain flat fees that approximate the 
cost of routing to other options exchanges. The Exchange then monitors 
the fees charged as compared to the costs of its routing services, as 
well as monitoring for specific fee changes by other options exchanges, 
and intends to adjust its flat routing fees and/or groupings to ensure 
that the Exchange's fees do indeed result in a rough approximation of 
overall Routing Costs, and are not significantly higher or lower in any 
area. The increase is proposed primarily in order to account for 
increased Routing Costs incurred by the Exchange.
Implementation Date
    The Exchange proposes to implement this amendment to its fee 
schedule on December 1, 2016.
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.\7\ 
Specifically, the Exchange believes that the proposed rule change is 
consistent with Section 6(b)(4) of the Act,\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.
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    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(4).
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    With respect to the proposed increase under the Exchange's routing 
structure, the Exchange notes that it operates in a highly competitive 
market in which market participants can readily direct order flow to 
competing venues or providers of routing services if they deem fee 
levels to be excessive. As explained above, the Exchange seeks to 
approximate the cost of routing to other options exchanges, including 
other applicable costs to the Exchange for routing, in order to provide 
a simplified and easy to understand pricing model. The Exchange 
believes that a pricing model based on approximate Routing Costs is a 
reasonable, fair and equitable approach to pricing. Specifically, the 
Exchange believes that its proposal to modify fees is fair, equitable 
and reasonable because the fees are generally an approximation of the 
cost to the Exchange for routing orders to such exchanges. The Exchange 
believes that its flat fee structure for orders routed to various 
venues is a fair and equitable approach to pricing, as it will provide 
certainty with respect to execution fees at groups of away options 
exchanges. In order to achieve its flat fee structure, taking all costs 
to the Exchange into account, the Exchange will in some instances 
charge a higher premium to route to certain options exchanges than to 
others. As a general matter, the Exchange believes that the proposed 
fee will allow it to recoup and

[[Page 90012]]

cover its costs of providing routing services to such exchanges and to 
make some additional profit in exchange for the services it provides. 
The Exchange also believes that the proposed increase to the fee 
structure for orders routed to and executed at these away options 
exchanges is fair and equitable and not unreasonably discriminatory in 
that it applies equally to all Members. Finally, the Exchange notes 
that it intends to consistently evaluate its routing fees, including 
profit and loss attributable to routing, as applicable, in connection 
with the operation of a flat fee routing service, and would consider 
future adjustments to the proposed pricing structure to the extent it 
was recouping a significant profit or loss from routing to away options 
exchanges.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes the proposed amendments to its fee schedule 
would not impose any burden on competition that is not necessary or 
appropriate in furtherance of the purposes of the Act. Rather, the 
proposal is a competitive proposal that is seeking to further the 
growth of the Exchange and to update the Exchange's fees for routing 
orders to away options exchanges based on Routing Costs. Additionally, 
Members may opt to disfavor the Exchange's pricing, including pricing 
for transactions on the Exchange as well as routing fees, if they 
believe that alternatives offer them better value. In particular, with 
respect to routing services, such services are available to Members 
from other broker-dealers as well as other options exchanges. The 
Exchange also notes that Members may choose to mark their orders as 
ineligible for routing to avoid incurring routing fees.\9\ Accordingly, 
the Exchange does not believe that the proposed change will impair the 
ability of Members or competing venues to maintain their competitive 
standing in the financial markets.
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    \9\ See Exchange Rule 21.1(d)(7) (describing ``Book Only'' 
orders) and Exchange Rule 21.9(a)(1) (describing the Exchange's 
routing process, which requires orders to be designated as available 
for routing).
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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 \10\ and paragraph (f) of Rule 19b-4 
thereunder.\11\ 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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    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 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 r[email protected]. Please include 
File Number SR-BatsEDGX-2016-69 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-2016-69. 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-2016-69, and should 
be submitted on or before January 3, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-29802 Filed 12-12-16; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 81, No. 239 / Tuesday, December 13, 2016 / Notices 90011 SECURITIES AND EXCHANGE the most significant parts of such rough approximation of overall Routing COMMISSION statements. Costs, and are not significantly higher or lower in any area. The increase is A. Self-Regulatory Organization’s [Release No. 34–79497; File No. SR– proposed primarily in order to account BatsEDGX–2016–69] Statement of the Purpose of, and for increased Routing Costs incurred by Statutory Basis for, the Proposed Rule the Exchange. Self-Regulatory Organizations; Bats Change EDGX Exchange, Inc.; Notice of Filing Implementation Date 1. Purpose and Immediate Effectiveness of a The Exchange proposes to implement Proposed Rule Change Related to Fees The Exchange proposes to amend its this amendment to its fee schedule on for Use of the Exchange’s Equities fee schedule for its equity options December 1, 2016. Options Platform platform (‘‘EDGX Options’’) to modify the Exchange’s routing fee code RR, as 2. Statutory Basis December 7, 2016. further described below. The Exchange The Exchange believes that the Pursuant to Section 19(b)(1) of the currently charges flat rate routing fees proposed rule change is consistent with Securities Exchange Act of 1934 (the for executions at away options the requirements of the Act and the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 exchanges 6 that have been placed into rules and regulations thereunder that notice is hereby given that on November groups based on the approximate cost of are applicable to a national securities 30, 2016, Bats EDGX Exchange, Inc. (the routing to such venues. The grouping of exchange, and, in particular, with the ‘‘Exchange’’ or ‘‘EDGX’’) filed with the away options exchanges is based on the requirements of Section 6 of the Act.7 Securities and Exchange Commission cost of transaction fees assessed by each Specifically, the Exchange believes that (the ‘‘Commission’’) the proposed rule venue as well as costs to the Exchange the proposed rule change is consistent change as described in Items I, II, and for routing (i.e., clearing fees, with Section 6(b)(4) of the Act,8 in that III below, which Items have been connectivity and other infrastructure it provides for the equitable allocation prepared by the Exchange. The costs, membership fees, etc.) of reasonable dues, fees and other Exchange has designated the proposed (collectively, ‘‘Routing Costs’’). charges among members and other rule change as one establishing or With respect to Customer orders in persons using any facility or system changing a member due, fee, or other Non-Penny Pilot Securities, the which the Exchange operates or charge imposed by the Exchange under Exchange applies one of two fee codes: controls. Section 19(b)(3)(A)(ii) of the Act 3 and (1) Fee code RP, which results in a fee With respect to the proposed increase Rule 19b–4(f)(2) thereunder,4 which of $0.25 per contract and applies to all under the Exchange’s routing structure, renders the proposed rule change Customer orders (including orders in the Exchange notes that it operates in a effective upon filing with the Penny Pilot Securities) routed to and highly competitive market in which Commission. The Commission is executed at AMEX, BOX, BX Options, market participants can readily direct publishing this notice to solicit CBOE, ISE Mercury, MIAX or PHLX; or order flow to competing venues or comments on the proposed rule change (2) fee code RR, which results in a fee providers of routing services if they from interested persons. of $1.00 per contract and applies to all deem fee levels to be excessive. As Customer orders in Non-Penny Pilot explained above, the Exchange seeks to I. Self-Regulatory Organization’s Securities routed to and executed at approximate the cost of routing to other Statement of the Terms of the Substance ARCA, BZX Options, C2, ISE, ISE options exchanges, including other of the Proposed Rule Change Gemini or NOM. The Exchange applicable costs to the Exchange for The Exchange filed a proposal to proposes to increase the fee under fee routing, in order to provide a simplified amend the fee schedule applicable to code RR from $1.00 per contract to and easy to understand pricing model. Members 5 and non-Members of the $1.10 per contract to account for The Exchange believes that a pricing Exchange pursuant to EDGX Rules additional Routing Costs incurred by the model based on approximate Routing 15.1(a) and (c). Exchange. The Exchange does not Costs is a reasonable, fair and equitable propose any change to fee code RP. II. Self-Regulatory Organization’s As set forth above, the Exchange’s approach to pricing. Specifically, the Statement of the Purpose of, and approach to routing fees is to set forth Exchange believes that its proposal to Statutory Basis for, the Proposed Rule through the use of certain flat fees that modify fees is fair, equitable and Change approximate the cost of routing to other reasonable because the fees are options exchanges. The Exchange then generally an approximation of the cost In its filing with the Commission, the to the Exchange for routing orders to Exchange included statements monitors the fees charged as compared to the costs of its routing services, as such exchanges. The Exchange believes concerning the purpose of and basis for that its flat fee structure for orders well as monitoring for specific fee the proposed rule change and discussed routed to various venues is a fair and changes by other options exchanges, any comments it received on the equitable approach to pricing, as it will and intends to adjust its flat routing fees proposed rule change. The text of these provide certainty with respect to and/or groupings to ensure that the statements may be examined at the execution fees at groups of away options Exchange’s fees do indeed result in a places specified in Item IV below. The exchanges. In order to achieve its flat fee Exchange has prepared summaries, set 6 Other options exchanges to which the Exchange structure, taking all costs to the forth in Sections A, B, and C below, of routes include: Bats BZX Exchange, Inc. (‘‘BZX Exchange into account, the Exchange pmangrum on DSK3GDR082PROD with NOTICES Options’’), BOX Options Exchange LLC (‘‘BOX’’), will in some instances charge a higher 1 15 U.S.C. 78s(b)(1). Chicago Board Options Exchange, Inc. (‘‘CBOE’’), C2 Options Exchange, Inc. (‘‘C2’’), International premium to route to certain options 2 17 CFR 240.19b–4. Securities Exchange, Inc. (‘‘ISE’’), ISE Gemini, LLC exchanges than to others. As a general 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). (‘‘ISE Gemini’’), ISE Mercury, LLC (‘‘ISE Mercury’’), matter, the Exchange believes that the Miami International Securities Exchange, LLC proposed fee will allow it to recoup and 5 The term ‘‘Member’’ is defined as ‘‘any (‘‘MIAX’’), Nasdaq Options Market LLC (‘‘NOM’’), registered broker or dealer that has been admitted Nasdaq OMX BX LLC (‘‘BX Options’’), Nasdaq OMX 7 15 U.S.C. 78f. to membership in the Exchange.’’ See Exchange PHLX LLC (‘‘PHLX’’), NYSE Arca, Inc. (‘‘ARCA’’), Rule 1.5(n). and NYSE MKT LLC (‘‘AMEX’’). 8 15 U.S.C. 78f(b)(4). VerDate Sep<11>2014 15:08 Dec 12, 2016 Jkt 241001 PO 00000 Frm 00120 Fmt 4703 Sfmt 4703 E:\FR\FM\13DEN1.SGM 13DEN1

90012 Federal Register / Vol. 81, No. 239 / Tuesday, December 13, 2016 / Notices cover its costs of providing routing III. Date of Effectiveness of the inspection and copying at the principal services to such exchanges and to make Proposed Rule Change and Timing for office of the Exchange. All comments some additional profit in exchange for Commission Action received will be posted without change; the services it provides. The Exchange The foregoing rule change has become the Commission does not edit personal also believes that the proposed increase effective pursuant to Section 19(b)(3)(A) identifying information from to the fee structure for orders routed to of the Act 10 and paragraph (f) of Rule submissions. You should submit only and executed at these away options 19b–4 thereunder.11 At any time within information that you wish to make exchanges is fair and equitable and not 60 days of the filing of the proposed rule available publicly. All submissions unreasonably discriminatory in that it change, the Commission summarily may should refer to File Number SR– applies equally to all Members. Finally, temporarily suspend such rule change if BatsEDGX–2016–69, and should be the Exchange notes that it intends to it appears to the Commission that such submitted on or before January 3, 2017. consistently evaluate its routing fees, action is necessary or appropriate in the For the Commission, by the Division of including profit and loss attributable to public interest, for the protection of Trading and Markets, pursuant to delegated routing, as applicable, in connection investors, or otherwise in furtherance of authority.12 with the operation of a flat fee routing the purposes of the Act. Eduardo A. Aleman, service, and would consider future Assistant Secretary. adjustments to the proposed pricing IV. Solicitation of Comments [FR Doc. 2016–29802 Filed 12–12–16; 8:45 am] structure to the extent it was recouping Interested persons are invited to BILLING CODE 8011–01–P a significant profit or loss from routing submit written data, views, and to away options exchanges. arguments concerning the foregoing, including whether the proposed rule SECURITIES AND EXCHANGE B. Self-Regulatory Organization’s change is consistent with the Act. COMMISSION Statement on Burden on Competition Comments may be submitted by any of The Exchange believes the proposed the following methods: [Release No. 34–79499; File No. SR–CBOE– amendments to its fee schedule would 2016–084] Electronic Comments not impose any burden on competition that is not necessary or appropriate in • Use the Commission’s Internet Self-Regulatory Organizations; furtherance of the purposes of the Act. comment form (http://www.sec.gov/ Chicago Board Options Exchange, Rather, the proposal is a competitive rules/sro.shtml); or Incorporated; Notice of Filing of a proposal that is seeking to further the • Send an email to rule-comments@ Proposed Rule Change To Amend growth of the Exchange and to update sec.gov. Please include File Number SR– Exchange Rules Related to the the Exchange’s fees for routing orders to BatsEDGX–2016–69 on the subject line. Automated Improvement Mechanism away options exchanges based on Paper Comments December 7, 2016. Routing Costs. Additionally, Members • Send paper comments in triplicate Pursuant to Section 19(b)(1) of the may opt to disfavor the Exchange’s Securities Exchange Act of 1934 (the to Secretary, Securities and Exchange pricing, including pricing for Commission, 100 F Street NE., ‘‘Act’’),1 and Rule 19b–4 thereunder,2 transactions on the Exchange as well as Washington, DC 20549–1090. notice is hereby given that, on routing fees, if they believe that November 29, 2016, Chicago Board alternatives offer them better value. In All submissions should refer to File Number SR–BatsEDGX–2016–69. This Options Exchange, Incorporated (the particular, with respect to routing ‘‘Exchange’’ or ‘‘CBOE’’) filed with the file number should be included on the services, such services are available to Securities and Exchange Commission subject line if email is used. To help the Members from other broker-dealers as (the ‘‘Commission’’) the proposed rule Commission process and review your well as other options exchanges. The change as described in Items I, II, and comments more efficiently, please use Exchange also notes that Members may III below, which Items have been only one method. The Commission will choose to mark their orders as ineligible prepared by the Exchange. The post all comments on the Commission’s for routing to avoid incurring routing Commission is publishing this notice to Internet Web site (http://www.sec.gov/ fees.9 Accordingly, the Exchange does solicit comments on the proposed rule rules/sro.shtml). Copies of the not believe that the proposed change submission, all subsequent change from interested persons. will impair the ability of Members or amendments, all written statements competing venues to maintain their I. Self-Regulatory Organization’s with respect to the proposed rule Statement of the Terms of Substance of competitive standing in the financial change that are filed with the markets. the Proposed Rule Change Commission, and all written C. Self-Regulatory Organization’s communications relating to the The Exchange seeks to amend Statement on Comments on the proposed rule change between the Exchange Rules related to the Proposed Rule Change Received From Commission and any person, other than Automated Improvement Mechanism. Members, Participants, or Others those that may be withheld from the The text of the proposed rule change is public in accordance with the provided below. The Exchange has not solicited, and provisions of 5 U.S.C. 552, will be (additions are italicized; deletions are does not intend to solicit, comments on available for Web site viewing and [bracketed]) this proposed rule change. The printing in the Commission’s Public Exchange has not received any written * * * * * pmangrum on DSK3GDR082PROD with NOTICES Reference Room, 100 F Street NE., comments from members or other Washington, DC 20549 on official Chicago Board Options Exchange, interested parties. business days between the hours of Incorporated Rules 10:00 a.m. and 3:00 p.m. Copies of such * * * * * 9 See Exchange Rule 21.1(d)(7) (describing ‘‘Book Only’’ orders) and Exchange Rule 21.9(a)(1) filing also will be available for 12 17 CFR 200.30–3(a)(12). (describing the Exchange’s routing process, which 10 15 U.S.C. 78s(b)(3)(A). 1 15 U.S.C. 78s(b)(1). requires orders to be designated as available for routing). 11 17 CFR 240.19b–4(f). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 15:08 Dec 12, 2016 Jkt 241001 PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 E:\FR\FM\13DEN1.SGM 13DEN1


Document Created: 2016-12-13 02:44:59
Document Modified: 2016-12-13 02:44:59
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 90011 
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