81 FR 92923 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Change Modifying the NYSE Amex Options Fee Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 244 (December 20, 2016)
Federal Register Volume 81, Issue 244 (December 20, 2016)
| Page Range | 92923-92925 | |
| FR Document | 2016-30564 |
[Federal Register Volume 81, Number 244 (Tuesday, December 20, 2016)] [Notices] [Pages 92923-92925] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-30564] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79559; File No. SR-NYSEMKT-2016-115] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Change Modifying the NYSE Amex Options Fee Schedule December 14, 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 December 1, 2016, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') 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 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 to modify the NYSE Amex Options Fee Schedule (``Fee Schedule''). The Exchange proposes to implement the fee change effective December 1, 2016. The proposed 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 purpose of this filing is to amend Section III. C. of the Fee Schedule to adjust the monthly Rights Fees assessed on Specialists, e- Specialists, Directed Order Market Markers (each a ``DOMM), and to provide alternative means to qualify for a discount on the Rights Fees. The Exchange proposes to implement these changes effective on December 1, 2016. Currently, the Exchange charges a Rights Fee on each issue in the allocation of an e-Specialist, DOMM, and Specialist.\4\ The monthly Rights Fee ranges from $75 to $1,500 and is based on the Average National Daily Customer Contracts (``CADV'') per issue. With one exception, the more active an issue, the higher the Rights Fee assessed. The exception is that the Exchange currently charges a higher rate for the lowest-volume issues (i.e., less than 201 CADV) to offset the Exchange's revenue with the cost of listing and maintaining these low-volume issues. --------------------------------------------------------------------------- \4\ See Fee Schedule, Section III. C. (e-Specialist, DOMM and Specialist Monthly Rights Fees) (describing how the Rights Fee is assessed and setting forth the current rates), available here, https://www.nyse.com/publicdocs/nyse/markets/amex-options/ NYSE_Amex_Options_Fee_Schedule.pdf. --------------------------------------------------------------------------- Proposed Modification to the Rights Fees The Exchange proposes to align the Rights Fees with the economic benefit of being the e-Specialist, DOMM, or Specialist in a given issue, based on trading activity in an issue. The Exchange therefore proposes that some rates would decrease (for lower-volume issues) and others would increase (for higher-volume issues). Using the same CADV levels currently in place, the Exchange proposes to amend the Rights Fees as follows: e-Specialist, DOMM, and Specialist Rights Fee ------------------------------------------------------------------------ Average national daily customer contracts per issue Current fee Proposed fee ------------------------------------------------------------------------ 0 to 200................................ $250 $50 201 to 2,000............................ 75 60 2,001 to 5,000.......................... 200 150 5,001 to 15,000......................... 375 375 15,001 to 100,000....................... 750 1,250 Over 100,000............................ 1,500 2,000 ------------------------------------------------------------------------ [[Page 92924]] As shown in the chart above, the Exchange proposes to significantly decrease the Rights Fee for the lowest-volume issues (i.e., between 0- 200 contracts) to better account for the costs to each e-Specialist, DOMM, and Specialist, irrespective of costs and revenue to the Exchange associated with listing an issue. The Exchange also proposes to slightly decrease the Rights Fee for option issues trading between 201- 2,000 CADV and trading between 2,001-5,000 CADV to better align with the cost to the Exchange associated with such issues. The Exchange believes the proposed reduction in the Rights Fee for issues trading under 5,001 CADV would create an incentive for Specialists and e- Specialists to request appointments in these lower-volume issues, which may result in increased liquidity to the benefit of market participants. Similarly, the Exchange believes the proposed reductions would encourage DOMMs to seek to transact more in these less active issues (i.e., to make order flow arrangements with Customers to direct orders in these issues to them), which in turn should increase volume on the Exchange. In addition, the Exchange proposes to increase the Rights Fees associated with the two most active CADV categories of issues to better reflect the economic benefits of being an e-Specialist, DOMM, or Specialist in more actively-traded issues (i.e., option issues trading more than 5,000 CADV). The Exchange believes the proposed modifications to the Rights Fees are appropriate as an e-Specialist, DOMM, or Specialist would have an opportunity to interact with fewer than 201 contracts per day to cover the proposed $50 per month Rights Fees and would have the opportunity to interact with more than 100,000 contracts per day to cover the proposed $2,000 per month Rights Fee. Proposed Discounts to the Rights Fees The Exchange proposes two alternative methods for Specialists, e- Specialists, and DOMMs to qualify for a discount on the monthly Rights Fees. First, as proposed, any Specialist, e-Specialist, or DOMM that participates in the Prepayment Program (outlined in Section I.D. of the Fee Schedule) would be eligible for a 20% discount to their monthly Rights Fees. Alternatively, the Exchange proposes that any Specialist, e-Specialist, or DOMM that achieves one of the Tiers in the Amex Customer Engagement (``ACE'') Program (outlined in Section I.E. of the Fee Schedule) would be eligible for a discount on their Rights Fees, as set forth in the table below. Rights Fee Discount ------------------------------------------------------------------------ Discount on ACE tier rights fees % ------------------------------------------------------------------------ Base \5\................................................ 0 1....................................................... 0 2....................................................... 0 3....................................................... 20 4....................................................... 30 5....................................................... 40 ------------------------------------------------------------------------ In the event that\\ an e-Specialist, DOMM, or Specialist qualified for both discounts in a given month, only the larger discount would be applied. For instance, a Specialist in one of the Prepayment Programs would be eligible to receive a 20% discount on the Rights Fees every month or, if that same Specialist also qualifies for ACE Tier 4, making it eligible for a 30% discount in a given month, the Specialist would receive a 30% discount to the Rights Fees for that month in lieu of the 20% discount. --------------------------------------------------------------------------- \5\ The Exchange notes that it is proposing to add a Base Tier to the ACE Program in a separate fee filing, also for December 1, 2016. Thus, reference to a Base Tier herein is designed to align with that proposed change. See File No. SR-NYSEMKT-2016-114. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\6\ in general, and furthers the objectives of Sections 6(b)(4) and (5) of the Act,\7\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \6\ 15 U.S.C. 78f(b). \7\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- The Exchange believes that the proposed modifications to the Rights Fees are reasonable, equitable and not unfairly discriminatory for a number of reasons. First, the Rights Fees apply solely to e- Specialists, DOMMs, and Specialists (other Market Makers are not subject to this Fee) and are assessed to account for the enhanced allocation opportunities and economic benefits that inure to these market participants. Second, the monthly Rights Fees are directly related to the number of allocations in the appointment of each e- Specialist, DOMM, or Specialist, which appointments are completely voluntary. Any e-Specialist, DOMM, or Specialist can opt to relinquish any issue in its allocation to reduce its total Rights Fee. In addition, the proposed Rights Fees would be more closely aligned with the economic benefit of being e-Specialist, DOMM, or Specialist in a given issue. For example, an e-Specialist, DOMM, or Specialist would have an opportunity to interact with fewer than 201 contracts per day to cover the proposed $50 per month Rights Fee and would have the opportunity to interact with more than 100,000 contracts per day to cover the proposed $2,000 per month Rights Fee. Further, e-Specialists, DOMMs, and Specialists trading issues with similar activity levels would be subject to the same Rights Fees. The Exchange believes the proposed reduction in the Rights Fee for issues trading under 5,001CADV is reasonable, equitable and not unfairly discriminatory because it would create an incentive for Specialists and e-Specialists to request appointments in these lower- volume issues, which may result in increased liquidity to the benefit of market participants. Similarly, the Exchange believes the proposed reductions would encourage DOMMs to seek to transact more in these less active issues (i.e., to make order flow arrangements with Customers to direct orders in these issues to them), which in turn should increase volume on the Exchange. The Exchange also believes the proposed discounts on the Rights Fees available to e-Specialists, DOMMs, and Specialists are reasonable, equitable and not unfairly discriminatory for a number of reasons. First, the proposed discounts would reduce the overhead costs of e- Specialists, DOMMs, and Specialists (by reducing the monthly Rights Fees), which would, in turn, enhance their ability to provide liquidity to the benefit of all market participants. Second, because Market Makers that are not e-Specialists, DOMMs, or Specialists are not subject to the Rights Fees (as such fees are assessed to account for the enhanced allocation opportunities and economic benefits that inure to these market participants), the proposed discount would not disadvantage Market Makers. In addition, all e-Specialists, DOMMs, and Specialists (as well as any other Market Makers) are eligible to participate in the Prepayment Program, which would enable them to qualify for the proposed 20% discount on the Rights Fees. Further, the proposed discounts available upon satisfying certain Tiers of the ACE Program are not discriminatory as they are open to all e-Specialists, DOMMS, and Specialists, as well as all other Market Makers who may arrange for ``appointment'' status with an Order Flow Provider (``OFP''). [[Page 92925]] Finally, the Exchange is subject to significant competitive forces, as described below in the Exchange's statement regarding the burden on competition. For these reasons, the Exchange believes that the proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\8\ the Exchange does not believe that the proposed rule change would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange believes that the proposed modifications on the Rights Fees would not impose an unfair burden on competition because the proposed Rights Fees would more closely align with the economic benefit of being e-Specialist, DOMM, or Specialist in a given issue. Because other Market Makers are not subject to the Rights Fee, the proposed discount would not disadvantage Market Makers. Instead, the proposed ACE-related discounts would operate to incent each e-Specialist, DOMM, or Specialist to achieve higher ACE Tiers to reduce its own Rights Fee. The Exchange believes that the proposed discounts would encourage e-Specialists, DOMMs, or Specialists to quote and trade competitively in their issues and would reduce the burden on competition among e-Specialists, DOMMs, or Specialists in the most actively-traded issues because e-Specialists, DOMMs, or Specialists that achieve the discounts would have reduced overhead. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues. In such an environment, the Exchange must continually review, and consider adjusting, its fees and credits to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. 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 foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b- 4 \10\ thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- 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) \11\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \11\ 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-NYSEMKT-2016-115 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-NYSEMKT-2016-115. 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-NYSEMKT-2016-115, and should be submitted on or before January 10, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-30564 Filed 12-19-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 244 / Tuesday, December 20, 2016 / Notices 92923
Paper Comments SECURITIES AND EXCHANGE the places specified in Item IV below.
• Send paper comments in triplicate COMMISSION The Exchange has prepared summaries,
to Brent J. Fields, Secretary, Securities set forth in sections A, B, and C below,
[Release No. 34–79559; File No. SR–
and Exchange Commission, 100 F Street NYSEMKT–2016–115]
of the most significant parts of such
NE., Washington, DC 20549–1090. statements.
All submissions should refer to File Self-Regulatory Organizations; NYSE A. Self-Regulatory Organization’s
Number SR–BOX–2016–57. This file MKT LLC; Notice of Filing and Statement of the Purpose of, and the
number should be included on the Immediate Effectiveness of Proposed Statutory Basis for, the Proposed Rule
subject line if email is used. To help the Change Modifying the NYSE Amex Change
Commission process and review your Options Fee Schedule
comments more efficiently, please use 1. Purpose
December 14, 2016.
only one method. The Commission will Pursuant to Section 19(b)(1) 1 of the The purpose of this filing is to amend
post all comments on the Commission’s Securities Exchange Act of 1934 (the Section III. C. of the Fee Schedule to
Internet Web site (http://www.sec.gov/ ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 adjust the monthly Rights Fees assessed
rules/sro.shtml). Copies of the notice is hereby given that, on December on Specialists, e-Specialists, Directed
submission, all subsequent 1, 2016, NYSE MKT LLC (the Order Market Markers (each a ‘‘DOMM),
amendments, all written statements ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with and to provide alternative means to
with respect to the proposed rule the Securities and Exchange qualify for a discount on the Rights
change that are filed with the Commission (the ‘‘Commission’’) the Fees. The Exchange proposes to
Commission, and all written proposed rule change as described in implement these changes effective on
communications relating to the Items I, II, and III below, which Items December 1, 2016.
proposed rule change between the have been prepared by the self- Currently, the Exchange charges a
Commission and any person, other than regulatory organization. The Rights Fee on each issue in the
those that may be withheld from the Commission is publishing this notice to allocation of an e-Specialist, DOMM,
public in accordance with the solicit comments on the proposed rule and Specialist.4 The monthly Rights Fee
provisions of 5 U.S.C. 552, will be change from interested persons. ranges from $75 to $1,500 and is based
available for Web site viewing and
I. Self-Regulatory Organization’s on the Average National Daily Customer
printing in the Commission’s Public
Statement of the Terms of Substance of Contracts (‘‘CADV’’) per issue. With one
Reference Room, 100 F Street NE.,
the Proposed Rule Change exception, the more active an issue, the
Washington, DC 20549 on official
higher the Rights Fee assessed. The
business days between the hours of The Exchange proposes to modify the
NYSE Amex Options Fee Schedule exception is that the Exchange currently
10:00 a.m. and 3:00 p.m. Copies of such
(‘‘Fee Schedule’’). The Exchange charges a higher rate for the lowest-
filing also will be available for
proposes to implement the fee change volume issues (i.e., less than 201 CADV)
inspection and copying at the principal
effective December 1, 2016. The to offset the Exchange’s revenue with
office of the Exchange. All comments
proposed change is available on the the cost of listing and maintaining these
received will be posted without change;
Exchange’s Web site at www.nyse.com, low-volume issues.
the Commission does not edit personal
identifying information from at the principal office of the Exchange, Proposed Modification to the Rights
submissions. You should submit only and at the Commission’s Public Fees
information that you wish to make Reference Room.
available publicly. All submissions The Exchange proposes to align the
II. Self-Regulatory Organization’s Rights Fees with the economic benefit of
should refer to File Number SR–BOX– Statement of the Purpose of, and
2016–57, and should be submitted on or being the e-Specialist, DOMM, or
Statutory Basis for, the Proposed Rule Specialist in a given issue, based on
before January 10, 2017. Change trading activity in an issue. The
For the Commission, by the Division of In its filing with the Commission, the Exchange therefore proposes that some
Trading and Markets, pursuant to delegated self-regulatory organization included rates would decrease (for lower-volume
authority.39 statements concerning the purpose of, issues) and others would increase (for
Robert W. Errett, and basis for, the proposed rule change higher-volume issues). Using the same
Deputy Secretary. and discussed any comments it received CADV levels currently in place, the
[FR Doc. 2016–30562 Filed 12–19–16; 8:45 am] on the proposed rule change. The text Exchange proposes to amend the Rights
BILLING CODE 8011–01–P of those statements may be examined at Fees as follows:
E-SPECIALIST, DOMM, AND SPECIALIST RIGHTS FEE
Average national daily customer contracts per issue Current fee Proposed fee
0 to 200 .................................................................................................................................................................... $250 $50
201 to 2,000 ............................................................................................................................................................. 75 60
2,001 to 5,000 .......................................................................................................................................................... 200 150
5,001 to 15,000 ........................................................................................................................................................ 375 375
mstockstill on DSK3G9T082PROD with NOTICES
15,001 to 100,000 .................................................................................................................................................... 750 1,250
Over 100,000 ........................................................................................................................................................... 1,500 2,000
39 17 CFR 200.30–3(a)(12). 3 17CFR 240.19b–4. setting forth the current rates), available here,
1 15 U.S.C. 78s(b)(1). 4 SeeFee Schedule, Section III. C. (e-Specialist, https://www.nyse.com/publicdocs/nyse/markets/
2 15 U.S.C. 78a. DOMM and Specialist Monthly Rights Fees) amex-options/NYSE_Amex_Options_Fee_
(describing how the Rights Fee is assessed and Schedule.pdf.
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![Federal Register / Vol. 81, No. 244 / Tuesday, December 20, 2016 / Notices 92925
Finally, the Exchange is subject to III. Date of Effectiveness of the proposed rule change between the
significant competitive forces, as Proposed Rule Change and Timing for Commission and any person, other than
described below in the Exchange’s Commission Action those that may be withheld from the
statement regarding the burden on The foregoing rule change is effective public in accordance with the
competition. upon filing pursuant to Section provisions of 5 U.S.C. 552, will be
For these reasons, the Exchange 19(b)(3)(A) 9 of the Act and available for Web site viewing and
subparagraph (f)(2) of Rule 19b–4 10 printing in the Commission’s Public
believes that the proposal is consistent
thereunder, because it establishes a due, Reference Room, 100 F Street NE.,
with the Act.
fee, or other charge imposed by the Washington, DC 20549 on official
B. Self-Regulatory Organization’s Exchange. business days between the hours of
Statement on Burden on Competition At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of such
filing of such proposed rule change, the filing also will be available for
In accordance with Section 6(b)(8) of Commission summarily may inspection and copying at the principal
the Act,8 the Exchange does not believe temporarily suspend such rule change if office of the Exchange. All comments
that the proposed rule change would it appears to the Commission that such received will be posted without change;
impose any burden on competition that action is necessary or appropriate in the the Commission does not edit personal
is not necessary or appropriate in public interest, for the protection of identifying information from
furtherance of the purposes of the Act. investors, or otherwise in furtherance of submissions. You should submit only
The Exchange believes that the the purposes of the Act. If the information that you wish to make
proposed modifications on the Rights Commission takes such action, the available publicly. All submissions
Fees would not impose an unfair burden Commission shall institute proceedings should refer to File Number SR–
on competition because the proposed under Section 19(b)(2)(B) 11 of the Act to NYSEMKT–2016–115, and should be
Rights Fees would more closely align determine whether the proposed rule submitted on or before January 10, 2017.
with the economic benefit of being e- change should be approved or
For the Commission, by the Division of
Specialist, DOMM, or Specialist in a disapproved.
Trading and Markets, pursuant to delegated
given issue. Because other Market IV. Solicitation of Comments authority.12
Makers are not subject to the Rights Fee, Interested persons are invited to Robert W. Errett,
the proposed discount would not submit written data, views, and Deputy Secretary.
disadvantage Market Makers. Instead, arguments concerning the foregoing, [FR Doc. 2016–30564 Filed 12–19–16; 8:45 am]
the proposed ACE-related discounts including whether the proposed rule BILLING CODE 8011–01–P
would operate to incent each e- change is consistent with the Act.
Specialist, DOMM, or Specialist to Comments may be submitted by any of
achieve higher ACE Tiers to reduce its the following methods: SECURITIES AND EXCHANGE
own Rights Fee. The Exchange believes COMMISSION
that the proposed discounts would Electronic Comments
encourage e-Specialists, DOMMs, or • Use the Commission’s Internet
comment form (http://www.sec.gov/ [Release No. 34–79560; File No. SR–CBOE–
Specialists to quote and trade
rules/sro.shtml); or 2016–081]
competitively in their issues and would
reduce the burden on competition • Send an email to rule-comments@
sec.gov. Please include File Number SR– Self-Regulatory Organizations;
among e-Specialists, DOMMs, or Chicago Board Options Exchange,
Specialists in the most actively-traded NYSEMKT–2016–115 on the subject
line. Incorporated; Notice of Filing and
issues because e-Specialists, DOMMs, or Immediate Effectiveness of a Proposed
Specialists that achieve the discounts Paper Comments Rule Change To Move the Web Site
would have reduced overhead. • Send paper comments in triplicate and Vendor Through Which It Sells and
The Exchange notes that it operates in to Secretary, Securities and Exchange Disseminates Open and Close Volume
a highly competitive market in which Commission, 100 F Street NE., Data on the CBOE
market participants can readily favor Washington, DC 20549–1090.
December 14, 2016.
competing venues. In such an All submissions should refer to File
environment, the Exchange must Number SR–NYSEMKT–2016–115. This Pursuant to Section 19(b)(1) of the
continually review, and consider file number should be included on the Securities Exchange Act of 1934 (the
adjusting, its fees and credits to remain subject line if email is used. To help the ‘‘Act’’),1 and Rule 19b–4 thereunder,2
competitive with other exchanges. For Commission process and review your notice is hereby given that on December
the reasons described above, the comments more efficiently, please use 9, 2016, Chicago Board Options
Exchange believes that the proposed only one method. The Commission will Exchange, Incorporated (the ‘‘Exchange’’
rule change reflects this competitive post all comments on the Commission’s or ‘‘CBOE’’) filed with the Securities
environment. Internet Web site (http://www.sec.gov/ and Exchange Commission (the
rules/sro.shtml). Copies of the ‘‘Commission’’) the proposed rule
C. Self-Regulatory Organization’s submission, all subsequent change as described in Items I, II, and
Statement on Comments on the amendments, all written statements III below, which Items have been
mstockstill on DSK3G9T082PROD with NOTICES
Proposed Rule Change Received From with respect to the proposed rule prepared by the Exchange. The
Members, Participants, or Others change that are filed with the Commission is publishing this notice to
Commission, and all written solicit comments on the proposed rule
No written comments were solicited communications relating to the change from interested persons.
or received with respect to the proposed
rule change. 9 15 U.S.C. 78s(b)(3)(A). 12 17 CFR 200.30–3(a)(12).
10 17 CFR 240.19b–4(f)(2). 1 15 U.S.C. 78s(b)(1).
8 15 U.S.C. 78f(b)(8). 11 15 U.S.C. 78s(b)(2)(B). 2 17 CFR 240.19b–4.
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Document Created: 2018-02-14 09:10:11
Document Modified: 2018-02-14 09:10:11
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| FR Citation | 81 FR 92923 |
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