81 FR 92925 - Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Move the Web Site and Vendor Through Which It Sells and Disseminates Open and Close Volume Data on the CBOE
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 244 (December 20, 2016)
Federal Register Volume 81, Issue 244 (December 20, 2016)
| Page Range | 92925-92927 | |
| FR Document | 2016-30565 |
[Federal Register Volume 81, Number 244 (Tuesday, December 20, 2016)] [Notices] [Pages 92925-92927] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-30565] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79560; File No. SR-CBOE-2016-081] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Move the Web Site and Vendor Through Which It Sells and Disseminates Open and Close Volume Data on the CBOE December 14, 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 December 9, 2016, Chicago Board Options Exchange, Incorporated (the ``Exchange'' or ``CBOE'') 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 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\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- [[Page 92926]] I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The text of the proposed rule change is available on the Exchange's Web site (http://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the Secretary, 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 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 aspects 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 creates volume data for each Exchange-listed option that consists of opening buys and opening sells and closing buys and closing sells.\3\ This opening and closing position data is subdivided by origin code (i.e. customer or firm), and the customer data is further subdivided by order size. The volume data is summarized by day and series (symbol, expiration date, strike price, call or put). This volume data is referred to herein as the ``Open/Close Data.'' A fee schedule for the sale of Open/Close data was codified pursuant to a filing noticed [sic] on January 8, 2007.\4\ --------------------------------------------------------------------------- \3\ An opening buy is a transaction to create or increase a long position, and an opening sell is a transaction to create or increase a short position. A closing buy is a transaction to close out a short position, and a closing sell is a transaction to reduce or eliminate a long position. \4\ See Securities and Exchange Act Release No. 55062 (January 8, 2007), 72 FR 2048 (January 17, 2007) (SR-CBOE-2006-088) [sic]. --------------------------------------------------------------------------- Current Status Currently, Open/Close Data is provided to the vendor Intelligent Financial Systems, LTD (``IFS''). IFS hosts and supports a Web site for Market Data Express, LLC (``MDX''), a wholly owned subsidiary of the Exchange. The MDX Web site (MarketDataExpress.com) offers the Open/ Close Data for sale to CBOE Trading Permit Holders (``TPHs'') and non- TPHs. The fees that MDX assesses for the Open/Close Data are set forth in a price list on MDX's Web site. TPHs and non-TPHs (together, ``Customers'') are charged the same fees for the Open/Close Data. Customers may purchase Open/Close Data on a subscription basis or by ad hoc request. Daily Open/Close Data covering all CBOE securities may be purchased by subscribing to the Daily Update service at a cost of $600 per month. Subscribers to the Daily Update service receive access to a daily data file via download from MDX's Web site. Historical Open/Close Data covering all CBOE securities may be purchased on an ad hoc request basis. The charge for historical Open/ Close Data covering all CBOE securities is $7,200 per year for requests for one to four years of data. Requests for five or more years of historical Open/Close Data receive a 50% discount beginning with the fifth year of data (i.e., MDX charges $7,200 for each of the first four years of data and $3,600 for year five and each subsequent year of data). Alternatively, a Customer may purchase historical Open/Close Data on an individual CBOE security at a cost of $4.50 per security per month. This data is received via download from MDX's Web site. A 50% discount is applied for requests for ten or more years of data, beginning with the tenth year of data. Proposed Change Development, Web site hosting, and customer support relating to the Open/Close data will be transferred to CBOE Livevol, LLC (``Livevol''), a wholly owned subsidiary of the Exchange's parent company, CBOE Holdings, Inc. CBOE will make Open/Close data available on the Livevol Data Shop Web site (datashop.cboe.com). Customer support will be transitioned from [email protected] to [email protected] Open/Close data (and customer support) will be available on both the MDX and Livevol Web sites during a transition period, which began on November 10, 2016 and is ending no later than January 31, 2017. At least two weeks prior to the end of the transition period, the Exchange will announce the end of the transition period via circular. At the end of the transition period, availability of the Open/Close data through the MDX Web site will be retired and the Open/Close data will only be available through the Livevol Web site. The fees related to the Open/ Close Data, including all applicable discounts, will remain the same during the transition period and once Open/Close data is available only through the Livevol Web site. The Exchange is changing the vendor and web address through which the Open/Close Data is purchased and disseminated and adopting a substantively identical fee schedule for Open/Close data on Livevol. At the end of the transition period, Open/ Close data will be removed from the MDX fee schedule. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ``Act'') and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.\5\ Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \6\ requirements that the rules of an exchange be 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 regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. Additionally, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) \7\ requirement that the rules of an exchange not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. Finally, as discussed below, the Exchange believes the proposed rule change is consistent with Section 6(b)(4)8 of the Act, which requires that Exchange rules provide for the equitable allocation of reasonable dues, fees, and other charges among its Trading Permit Holders and other persons using its facilities. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). \7\ Id. --------------------------------------------------------------------------- The proposed rule change addresses where and how Open/Close data is sold and disseminated. The Exchange believes the proposed rule change is equitable and does not permit unfair discrimination between customers, issuers, brokers or dealers, as the Open/Close Data will be available to all customers, including TPHs and other persons purchasing the data, at the same price and in the same manner. During and after the transition, the fees currently in place will continue to apply. [[Page 92927]] B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule will have no impact on competition because there is no change to the fee. The proposed rule change is merely changing the Web site on which the data will be available for purchase and adopting a substantively identical fee schedule for the new Web site. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act \9\ and paragraph (f) of Rule 19b-4 \10\ thereunder. 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. If the Commission takes such action, the Commission will institute proceedings to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f). --------------------------------------------------------------------------- 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-CBOE-2016-081 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-CBOE-2016-081. 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 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-CBOE-2016-081 and should be submitted on or before January 10, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\11\ --------------------------------------------------------------------------- \11\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-30565 Filed 12-19-16; 8:45 am] BILLING CODE 8011-01-P
![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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![92926 Federal Register / Vol. 81, No. 244 / Tuesday, December 20, 2016 / Notices
I. Self-Regulatory Organization’s Trading Permit Holders (‘‘TPHs’’) and Close data is available only through the
Statement of the Terms of Substance of non-TPHs. The fees that MDX assesses Livevol Web site. The Exchange is
the Proposed Rule Change for the Open/Close Data are set forth in changing the vendor and web address
The text of the proposed rule change a price list on MDX’s Web site. TPHs through which the Open/Close Data is
is available on the Exchange’s Web site and non-TPHs (together, ‘‘Customers’’) purchased and disseminated and
(http://www.cboe.com/AboutCBOE/ are charged the same fees for the Open/ adopting a substantively identical fee
CBOELegalRegulatoryHome.aspx), at Close Data. schedule for Open/Close data on
the Exchange’s Office of the Secretary, Customers may purchase Open/Close Livevol. At the end of the transition
and at the Commission’s Public Data on a subscription basis or by ad period, Open/Close data will be
Reference Room. hoc request. Daily Open/Close Data removed from the MDX fee schedule.
covering all CBOE securities may be
II. Self-Regulatory Organization’s purchased by subscribing to the Daily 2. Statutory Basis
Statement of the Purpose of, and Update service at a cost of $600 per The Exchange believes the proposed
Statutory Basis for, the Proposed Rule month. Subscribers to the Daily Update rule change is consistent with the
Change service receive access to a daily data file Securities Exchange Act of 1934 (the
In its filing with the Commission, the via download from MDX’s Web site. ‘‘Act’’) and the rules and regulations
Exchange included statements Historical Open/Close Data covering thereunder applicable to the Exchange
concerning the purpose of and basis for all CBOE securities may be purchased and, in particular, the requirements of
the proposed rule change and discussed on an ad hoc request basis. The charge Section 6(b) of the Act.5 Specifically,
any comments it received on the for historical Open/Close Data covering the Exchange believes the proposed rule
proposed rule change. The text of these all CBOE securities is $7,200 per year change is consistent with the Section
statements may be examined at the for requests for one to four years of data.
6(b)(5) 6 requirements that the rules of
places specified in Item IV below. The Requests for five or more years of
an exchange be designed to prevent
Exchange has prepared summaries, set historical Open/Close Data receive a
fraudulent and manipulative acts and
forth in sections A, B, and C below, of 50% discount beginning with the fifth
practices, to promote just and equitable
the most significant aspects of such year of data (i.e., MDX charges $7,200
principles of trade, to foster cooperation
statements. for each of the first four years of data
and coordination with persons engaged
and $3,600 for year five and each
A. Self-Regulatory Organization’s in regulating, clearing, settling,
subsequent year of data).
Statement of the Purpose of, and Alternatively, a Customer may processing information with respect to,
Statutory Basis for, the Proposed Rule purchase historical Open/Close Data on and facilitating transactions in
Change an individual CBOE security at a cost of securities, to remove impediments to
$4.50 per security per month. This data and perfect the mechanism of a free and
1. Purpose open market and a national market
is received via download from MDX’s
The Exchange creates volume data for Web site. A 50% discount is applied for system, and, in general, to protect
each Exchange-listed option that requests for ten or more years of data, investors and the public interest.
consists of opening buys and opening beginning with the tenth year of data. Additionally, the Exchange believes the
sells and closing buys and closing sells.3 proposed rule change is consistent with
This opening and closing position data Proposed Change the Section 6(b)(5) 7 requirement that
is subdivided by origin code (i.e. Development, Web site hosting, and the rules of an exchange not be designed
customer or firm), and the customer customer support relating to the Open/ to permit unfair discrimination between
data is further subdivided by order size. Close data will be transferred to CBOE customers, issuers, brokers, or dealers.
The volume data is summarized by day Livevol, LLC (‘‘Livevol’’), a wholly Finally, as discussed below, the
and series (symbol, expiration date, owned subsidiary of the Exchange’s Exchange believes the proposed rule
strike price, call or put). This volume parent company, CBOE Holdings, Inc. change is consistent with Section
data is referred to herein as the ‘‘Open/ CBOE will make Open/Close data 6(b)(4)8 of the Act, which requires that
Close Data.’’ A fee schedule for the sale available on the Livevol Data Shop Web Exchange rules provide for the equitable
of Open/Close data was codified site (datashop.cboe.com). Customer allocation of reasonable dues, fees, and
pursuant to a filing noticed [sic] on support will be transitioned from other charges among its Trading Permit
January 8, 2007.4 Support@MarketDataExpress.com to Holders and other persons using its
Current Status support@livevol.com. facilities.
Open/Close data (and customer The proposed rule change addresses
Currently, Open/Close Data is support) will be available on both the where and how Open/Close data is sold
provided to the vendor Intelligent MDX and Livevol Web sites during a and disseminated. The Exchange
Financial Systems, LTD (‘‘IFS’’). IFS transition period, which began on believes the proposed rule change is
hosts and supports a Web site for November 10, 2016 and is ending no equitable and does not permit unfair
Market Data Express, LLC (‘‘MDX’’), a later than January 31, 2017. At least two discrimination between customers,
wholly owned subsidiary of the weeks prior to the end of the transition issuers, brokers or dealers, as the Open/
Exchange. The MDX Web site period, the Exchange will announce the Close Data will be available to all
(MarketDataExpress.com) offers the end of the transition period via circular. customers, including TPHs and other
Open/Close Data for sale to CBOE At the end of the transition period, persons purchasing the data, at the same
availability of the Open/Close data
mstockstill on DSK3G9T082PROD with NOTICES
3 An opening buy is a transaction to create or price and in the same manner. During
increase a long position, and an opening sell is a through the MDX Web site will be and after the transition, the fees
transaction to create or increase a short position. A retired and the Open/Close data will currently in place will continue to
closing buy is a transaction to close out a short only be available through the Livevol apply.
position, and a closing sell is a transaction to Web site. The fees related to the Open/
reduce or eliminate a long position.
4 See Securities and Exchange Act Release No. Close Data, including all applicable 5 15 U.S.C. 78f(b).
55062 (January 8, 2007), 72 FR 2048 (January 17, discounts, will remain the same during 6 15 U.S.C. 78f(b)(5).
2007) (SR–CBOE–2006–088) [sic]. the transition period and once Open/ 7 Id.
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![Federal Register / Vol. 81, No. 244 / Tuesday, December 20, 2016 / Notices 92927
B. Self-Regulatory Organization’s All submissions should refer to File Exchange Act of 1934 (‘‘Act’’) 1 and Rule
Statement on Burden on Competition Number SR–CBOE–2016–081. This file 19b–4 thereunder,2 a proposed rule
The Exchange does not believe the number should be included on the change to amend Exchange Rule 4702 to
proposed rule change will impose any subject line if email is used. To help the adopt a new Retail Post-Only Order. The
burden on competition not necessary or Commission process and review your proposed rule change was published for
appropriate in furtherance of the comments more efficiently, please use comment in the Federal Register on
purposes of the Act. The proposed rule only one method. The Commission will November 1, 2016.3 The Commission
will have no impact on competition post all comments on the Commission’s received one comment letter on the
because there is no change to the fee. Internet Web site (http://www.sec.gov/ proposed rule change.4
The proposed rule change is merely rules/sro.shtml). Copies of the
submission, all subsequent Section 19(b)(2) of the Act 5 provides
changing the Web site on which the data that, within 45 days of the publication
will be available for purchase and amendments, all written statements
with respect to the proposed rule of notice of the filing of a proposed rule
adopting a substantively identical fee change, or within such longer period up
schedule for the new Web site. change that are filed with the
Commission, and all written to 90 days as the Commission may
C. Self-Regulatory Organization’s communications relating to the designate if it finds such longer period
Statement on Comments on the proposed rule change between the to be appropriate and publishes its
Proposed Rule Change Received From Commission and any person, other than reasons for so finding or as to which the
Members, Participants, or Others those that may be withheld from the self-regulatory organization consents,
The Exchange neither solicited nor public in accordance with the the Commission shall either approve the
received comments on the proposed provisions of 5 U.S.C. 552, will be proposed rule change, disapprove the
rule change. available for Web site viewing and proposed rule change, or institute
printing in the Commission’s Public proceedings to determine whether the
III. Date of Effectiveness of the Reference Room, 100 F Street NE., proposed rule change should be
Proposed Rule Change and Timing for Washington, DC 20549 on official
Commission Action disapproved. The 45th day after
business days between the hours of publication of the notice for this
The foregoing rule change has become 10:00 a.m. and 3:00 p.m. Copies of the proposed rule change is December 16,
effective pursuant to Section 19(b)(3)(A) filing also will be available for 2016. The Commission is extending this
of the Act 9 and paragraph (f) of Rule inspection and copying at the principal 45-day time period.
19b–4 10 thereunder. At any time within office of the Exchange. All comments
60 days of the filing of the proposed rule received will be posted without change; The Commission finds that it is
change, the Commission summarily may the Commission does not edit personal appropriate to designate a longer period
temporarily suspend such rule change if identifying information from within which to take action on the
it appears to the Commission that such submissions. You should submit only proposed rule change so that it has
action is necessary or appropriate in the information that you wish to make sufficient time to consider the proposed
public interest, for the protection of available publicly. All submissions rule change. Accordingly, the
investors, or otherwise in furtherance of should refer to File Number SR–CBOE– Commission, pursuant to Section
the purposes of the Act. If the 2016–081 and should be submitted on 19(b)(2) of the Act,6 designates January
Commission takes such action, the or before January 10, 2017. 30, 2017, as the date by which the
Commission will institute proceedings For the Commission, by the Division of Commission shall either approve or
to determine whether the proposed rule Trading and Markets, pursuant to delegated disapprove or institute proceedings to
change should be approved or authority.11 determine whether to disapprove the
disapproved. Robert W. Errett, proposed rule change (File Number SR–
IV. Solicitation of Comments Deputy Secretary. NASDAQ–2016–141).
[FR Doc. 2016–30565 Filed 12–19–16; 8:45 am] For the Commission, by the Division of
Interested persons are invited to
submit written data, views, and BILLING CODE 8011–01–P Trading and Markets, pursuant to delegated
arguments concerning the foregoing, authority.7
including whether the proposed rule Robert W. Errett,
change is consistent with the Act. SECURITIES AND EXCHANGE
Deputy Secretary.
Comments may be submitted by any of COMMISSION
[FR Doc. 2016–30559 Filed 12–19–16; 8:45 am]
the following methods: [Release No. 34–79554; File No. SR– BILLING CODE 8011–01–P
NASDAQ–2016–141]
Electronic Comments
• Use the Commission’s Internet Self-Regulatory Organizations; The
comment form (http://www.sec.gov/ Nasdaq Stock Market LLC; Notice of
rules/sro.shtml); or Designation of a Longer Period for
• Send an email to rule-comments@ Commission Action on a Proposed
sec.gov. Please include File Number SR– Rule Change To Amend Rule 4702 To
CBOE–2016–081 on the subject line. Adopt a New Retail Post-Only Order 1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
Paper Comments December 14, 2016.
mstockstill on DSK3G9T082PROD with NOTICES
3 See Securities Exchange Act Release No. 79163
• Send paper comments in triplicate On October 13, 2016, The Nasdaq (October 26, 2016), 81 FR 75862.
to Secretary, Securities and Exchange Stock Market LLC (‘‘Exchange’’) filed 4 See Letter from Joseph Saluzzi and Sal Arnuk,
Commission, 100 F Street NE., with the Securities and Exchange Partners, Themis Trading LLC, to Brent J. Fields,
Washington, DC 20549–1090. Commission (‘‘Commission’’), pursuant Secretary, Commission, dated November 7, 2016.
to Section 19(b)(1) of the Securities 5 15 U.S.C. 78s(b)(2).
9 15 6 15 U.S.C. 78s(b)(2).
U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f). 11 17 CFR 200.30–3(a)(12). 7 17 CFR 200.30–3(a)(31).
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Document Created: 2018-02-14 09:09:52
Document Modified: 2018-02-14 09:09:52
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 92925 |
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