81 FR 93718 - Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove Direct Debit for Market Data Products

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 245 (December 21, 2016)

Page Range		93718-93719
FR Document		2016-30686
Federal Register, Volume 81 Issue 245 (Wednesday, December 21, 2016)
[Federal Register Volume 81, Number 245 (Wednesday, December 21, 2016)]
[Notices]
[Pages 93718-93719]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30686]



[[Page 93718]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79563; File No. SR-ISE-2016-28]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change To Remove Direct Debit for Market Data Products

December 15, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on December 1, 2016, the International Securities Exchange, LLC 
(``ISE'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``SEC'' or ``Commission'') the proposed rule change as 
described in Items I and II, 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to remove direct debit for market data 
products, as described in more detail below.
    The text of the proposed rule change is available on the Exchange's 
Web site at www.ise.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 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 purpose of the proposed rule change is to remove direct debit 
for market data products. Today, the Exchange requires all of its 
members to provide a clearing account number at the National Securities 
Clearing Corporation (``NSCC'') for purposes of permitting the Exchange 
to debit any undisputed or final fees, fines, charges and/or other 
monetary sanctions or monies due and owing to the Exchange.\3\ 
Specifically, Rule 213 currently requires members, and all applicants 
for registration as such to provide a clearing account number for an 
account at NSCC for purposes of permitting the Exchange to debit any 
undisputed or final fees,\4\ fines, charges and/or other monetary 
sanctions or monies due and owing to the Exchange \5\ or other charges 
related to Rules 205, 206, 207, 208, 209, and 210.\6\ The proposed 
amendment would exclude from Rule 213 the fees set forth in Chapter 
VIII (Market Data) of the Exchange's Schedule of Fees \7\ to harmonize 
the direct debit process across all Nasdaq Exchanges.\8\
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    \3\ See Securities Exchange Act Release No. 79014 (September 30, 
2016), 81 FR 69560 (October 6, 2016) (SR-ISE-2016-24).
    \4\ Exchange fees are noted on the Exchange Schedule of Fees, 
available at: http://www.ise.com/fees.
    \5\ This includes, among other things, fines which result from 
the imposition of fines pursuant to Rules 1611, Judgment and 
Sanction; and 1614, Imposition of Fines for Minor Rules Violations. 
With respect to disciplinary sanctions that are imposed by either 
the Business Conduct Committee or a Hearing Panel, the Exchange 
would not debit any monies until such action is final. The Exchange 
would not consider an action final until all appeal periods have run 
and/or all appeal timeframes are exhausted. With respect to non-
disciplinary actions, the Exchange would similarly not take action 
to debit a Member account until all appeal periods have run and/or 
all appeal timeframes are exhausted. Any uncontested disciplinary or 
non-disciplinary actions will be debited, and the amount due will 
appear on the Member's invoice prior to the actual NSCC debit.
    \6\ See ISE Rules 205 (Access Fees), 206 (Transaction Fees), 207 
(Communication Fees), 208 (Regulatory Fees or Charges), 209 
(Transfer Fees) and 210 (Liability for Payment of Fees).
    \7\ See note 4.
    \8\ The NASDAQ Stock Market LLC, The NASDAQ Options Market LLC, 
NASDAQ PHLX LLC, and NASDAQ BX, Inc. (the ``Nasdaq Exchanges'') do 
not direct debit any fees for market data products.
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    The Exchange proposes that this rule change become operative on 
December 1, 2016. On November 23, 2016, the Exchange applied direct 
debit to its members for October 2016 billing \9\ pursuant to the 
process currently in place. Under the proposed amendment and starting 
December 2016, the Exchange will bill the market data fees separately 
and will continue to direct debit its members for all of the other fees 
that are covered under Rule 213, in each case for the previous month's 
billing.
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    \9\ The debit for October 2016 billing included all outstanding 
fees, including the fees for market data, through October 1, 2016.
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2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act,\10\ in general, and furthers the objectives of Section 
6(b)(5) of the Act,\11\ in particular, in that it is designed to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in 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 by providing members with a 
harmonized process to pay undisputed or final fees, fines, charges and/
or monetary sanctions or monies due and owing to the Exchange.
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    \10\ 15 U.S.C. 78f(b).
    \11\ 15 U.S.C. 78f(b)(5).
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    The Exchange believes that its proposal to remove the fees for 
market data products from the direct debit process is reasonable 
because it will not place any administrative burden on its members who 
are already subject to the same billing process on all other Nasdaq 
exchanges.\12\
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    \12\ See NASDAQ Phlx LLC Rule 909, The NASDAQ Stock Market LLC 
Rule 7007, NASDAQ Options Market LLC Rules at Chapter XV, Section 1, 
NASDAQ BX, Inc. Rule 7011 and BX Option Rules at Chapter XV, Section 
1.
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    The Exchange believes that its proposal to remove the market data 
fees as described above from the direct debit process is equitable and 
not unfairly discriminatory because it will apply to all members in a 
uniform manner.

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

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. With this proposal, the 
amended debit process would apply uniformly to all ISE members.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant

[[Page 93719]]

burden on competition; and (iii) become operative for 30 days from the 
date on which it was filed, or such shorter time as the Commission may 
designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) 
of the Act \13\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\14\
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    \13\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \14\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file the proposed rule change at 
least five business days prior to the date of filing of the proposed 
rule change, or such shorter time as designated by the Commission. 
The Commission deems this requirement to have been met.
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does 
not become operative for 30 days after the date of filing. However, 
Rule 19b-4(f)(6)(iii) \15\ permits the Commission to designate a 
shorter time if such action is consistent with the protection of 
investors and the public interest. In its filing with the Commission, 
the Exchange requests that the Commission waive the 30-day operative 
delay. The Exchange proposes that the new billing process become 
operative on December 1, 2016. Starting December 1, 2016, the Exchange 
will bill the market data fees separately and will continue to direct 
debit its members for all of the other fees that are covered under Rule 
213, in each case for the previous month's billing. The Exchange 
represents that waiver of the 30-day operative delay would allow it to 
conform its billing process similar to the process in place at the 
Nasdaq exchanges.\16\ The Commission believes that waiving the 30-day 
operative delay is consistent with the protection of investors and the 
public interest. Therefore, the Commission designates the proposed rule 
change operative upon filing.\17\
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    \15\ 17 CFR 240.19b-4(f)(6)(iii).
    \16\ See NASDAQ Phlx LLC Rule 909, The NASDAQ Stock Market LLC 
Rule 7007, NASDAQ Options Market LLC Rules at Chapter XV, Section 1, 
NASDAQ BX, Inc. Rule 7011 and BX Option Rules at Chapter XV, Section 
1.
    \17\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
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    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 shall institute proceedings to 
determine whether the proposed rule should be approved or disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-ISE-2016-28 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-ISE-2016-28. 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-ISE-2016-28 and should be 
submitted on or before January 11, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\18\
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    \18\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-30686 Filed 12-20-16; 8:45 am]
 BILLING CODE 8011-01-P
93718 Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices

SECURITIES AND EXCHANGE Exchange requires all of its members to each case for the previous month’s
COMMISSION provide a clearing account number at billing.
the National Securities Clearing
[Release No. 34–79563; File No. SR–ISE– 2. Statutory Basis
2016–28] Corporation (‘‘NSCC’’) for purposes of
permitting the Exchange to debit any The Exchange believes that its
Self-Regulatory Organizations; undisputed or final fees, fines, charges proposal is consistent with Section 6(b)
International Securities Exchange, and/or other monetary sanctions or of the Act,10 in general, and furthers the
LLC; Notice of Filing and Immediate monies due and owing to the objectives of Section 6(b)(5) of the Act,11
Effectiveness of Proposed Rule Exchange.3 Specifically, Rule 213 in particular, in that it is designed to
Change To Remove Direct Debit for currently requires members, and all promote just and equitable principles of
Market Data Products applicants for registration as such to trade, to foster cooperation and
provide a clearing account number for coordination with persons engaged in
December 15, 2016. an account at NSCC for purposes of facilitating transactions in securities, to
Pursuant to Section 19(b)(1) of the permitting the Exchange to debit any remove impediments to and perfect the
Securities Exchange Act of 1934 undisputed or final fees,4 fines, charges mechanism of a free and open market
(‘‘Act’’),1 and Rule 19b-4 thereunder,2 and/or other monetary sanctions or and a national market system, and, in
notice is hereby given that on December monies due and owing to the Exchange 5 general to protect investors and the
1, 2016, the International Securities public interest by providing members
or other charges related to Rules 205,
Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’) with a harmonized process to pay
206, 207, 208, 209, and 210.6 The
filed with the Securities and Exchange undisputed or final fees, fines, charges
proposed amendment would exclude
Commission (‘‘SEC’’ or ‘‘Commission’’) and/or monetary sanctions or monies
from Rule 213 the fees set forth in
the proposed rule change as described due and owing to the Exchange.
Chapter VIII (Market Data) of the
in Items I and II, below, which Items The Exchange believes that its
Exchange’s Schedule of Fees 7 to
have been prepared by the Exchange. proposal to remove the fees for market
harmonize the direct debit process
The Commission is publishing this data products from the direct debit
notice to solicit comments on the across all Nasdaq Exchanges.8
process is reasonable because it will not
proposed rule change from interested The Exchange proposes that this rule place any administrative burden on its
persons. change become operative on December members who are already subject to the
1, 2016. On November 23, 2016, the same billing process on all other Nasdaq
I. Self-Regulatory Organization’s Exchange applied direct debit to its
Statement of the Terms of Substance of exchanges.12
members for October 2016 billing 9 The Exchange believes that its
the Proposed Rule Change pursuant to the process currently in proposal to remove the market data fees
The Exchange proposes to remove place. Under the proposed amendment as described above from the direct debit
direct debit for market data products, as and starting December 2016, the process is equitable and not unfairly
described in more detail below. Exchange will bill the market data fees discriminatory because it will apply to
The text of the proposed rule change separately and will continue to direct all members in a uniform manner.
is available on the Exchange’s Web site debit its members for all of the other
at www.ise.com, at the principal office fees that are covered under Rule 213, in B. Self-Regulatory Organization’s
of the Exchange, and at the Statement on Burden on Competition
Commission’s Public Reference Room. 3 See Securities Exchange Act Release No. 79014 The Exchange does not believe that
(September 30, 2016), 81 FR 69560 (October 6, the proposed rule change will impose
II. Self-Regulatory Organization’s 2016) (SR–ISE–2016–24).
Statement of the Purpose of, and 4 Exchange fees are noted on the Exchange
any burden on competition that is not
Statutory Basis for, the Proposed Rule Schedule of Fees, available at: http://www.ise.com/ necessary or appropriate in furtherance
Change fees. of the purposes of the Act. With this
5 This includes, among other things, fines which proposal, the amended debit process
In its filing with the Commission, the result from the imposition of fines pursuant to would apply uniformly to all ISE
Exchange included statements Rules 1611, Judgment and Sanction; and 1614,
members.
concerning the purpose of and basis for Imposition of Fines for Minor Rules Violations.
the proposed rule change and discussed With respect to disciplinary sanctions that are C. Self-Regulatory Organization’s
imposed by either the Business Conduct Committee
any comments it received on the or a Hearing Panel, the Exchange would not debit Statement on Comments on the
proposed rule change. The text of these any monies until such action is final. The Exchange Proposed Rule Change Received From
statements may be examined at the would not consider an action final until all appeal Members, Participants, or Others
places specified in Item IV below. The periods have run and/or all appeal timeframes are
exhausted. With respect to non-disciplinary actions, No written comments were either
Exchange has prepared summaries, set the Exchange would similarly not take action to solicited or received.
forth in sections A, B, and C below, of debit a Member account until all appeal periods
the most significant aspects of such have run and/or all appeal timeframes are III. Date of Effectiveness of the
statements. exhausted. Any uncontested disciplinary or non- Proposed Rule Change and Timing for
disciplinary actions will be debited, and the Commission Action
A. Self-Regulatory Organization’s amount due will appear on the Member’s invoice
Statement of the Purpose of, and prior to the actual NSCC debit. Because the foregoing proposed rule
6 See ISE Rules 205 (Access Fees), 206
Statutory Basis for, the Proposed Rule change does not: (i) Significantly affect
(Transaction Fees), 207 (Communication Fees), 208
the protection of investors or the public
asabaliauskas on DSK3SPTVN1PROD with NOTICES

Change (Regulatory Fees or Charges), 209 (Transfer Fees)
and 210 (Liability for Payment of Fees). interest; (ii) impose any significant
1. Purpose 7 See note 4.
10 15 U.S.C. 78f(b).
The purpose of the proposed rule 8 The NASDAQ Stock Market LLC, The NASDAQ

change is to remove direct debit for Options Market LLC, NASDAQ PHLX LLC, and 11 15 U.S.C. 78f(b)(5).
NASDAQ BX, Inc. (the ‘‘Nasdaq Exchanges’’) do not 12 See NASDAQ Phlx LLC Rule 909, The
market data products. Today, the direct debit any fees for market data products. NASDAQ Stock Market LLC Rule 7007, NASDAQ
9 The debit for October 2016 billing included all Options Market LLC Rules at Chapter XV, Section
1 15 U.S.C. 78s(b)(1). outstanding fees, including the fees for market data, 1, NASDAQ BX, Inc. Rule 7011 and BX Option
2 17 CFR 240.19b–4. through October 1, 2016. Rules at Chapter XV, Section 1.

VerDate Sep<11>2014 18:38 Dec 20, 2016 Jkt 241001 PO 00000 Frm 00064 Fmt 4703 Sfmt 4703 E:\FR\FM\21DEN1.SGM 21DEN1
Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices 93719

burden on competition; and (iii) become IV. Solicitation of Comments For the Commission, by the Division of
operative for 30 days from the date on Trading and Markets, pursuant to delegated
which it was filed, or such shorter time Interested persons are invited to authority.18
as the Commission may designate, it has submit written data, views, and Eduardo A. Aleman,
become effective pursuant to Section arguments concerning the foregoing, Assistant Secretary.
19(b)(3)(A)(iii) of the Act 13 and including whether the proposed rule [FR Doc. 2016–30686 Filed 12–20–16; 8:45 am]
subparagraph (f)(6) of Rule 19b–4 change is consistent with the Act.
BILLING CODE 8011–01–P
thereunder.14 Comments may be submitted by any of
A proposed rule change filed under the following methods:
Rule 19b–4(f)(6) normally does not Electronic Comments SECURITIES AND EXCHANGE
become operative for 30 days after the COMMISSION
date of filing. However, Rule 19b– • Use the Commission’s Internet
4(f)(6)(iii) 15 permits the Commission to comment form (http://www.sec.gov/ [Release No. 34–79586; File No. SR–
designate a shorter time if such action rules/sro.shtml); or NYSEArca–2013–107]
is consistent with the protection of
• Send an email to rule-
investors and the public interest. In its Self-Regulatory Organizations; NYSE
filing with the Commission, the comments@sec.gov. Please include File
Number SR–ISE–2016–28 on the subject Arca, Inc.; Order Granting an
Exchange requests that the Commission Extension to Limited Exemption From
waive the 30-day operative delay. The line.
Rule 612(c) of Regulation NMS in
Exchange proposes that the new billing Paper Comments Connection With the Exchange’s Retail
process become operative on December Liquidity Program Until June 30, 2017
1, 2016. Starting December 1, 2016, the • Send paper comments in triplicate
Exchange will bill the market data fees to Secretary, Securities and Exchange December 16, 2016.
separately and will continue to direct Commission, 100 F Street NE., On December 23, 2013, the Securities
debit its members for all of the other Washington, DC 20549–1090. and Exchange Commission
fees that are covered under Rule 213, in (‘‘Commission’’) issued an order
each case for the previous month’s All submissions should refer to File
Number SR–ISE–2016–28. This file pursuant to its authority under Rule
billing. The Exchange represents that 612(c) of Regulation NMS (‘‘Sub-Penny
waiver of the 30-day operative delay number should be included on the
subject line if email is used. To help the Rule’’) 1 that granted NYSE Arca, Inc.
would allow it to conform its billing (‘‘Exchange’’) a limited exemption from
process similar to the process in place Commission process and review your
comments more efficiently, please use the Sub-Penny Rule in connection with
at the Nasdaq exchanges.16 The the operation of the Exchange’s Retail
Commission believes that waiving the only one method. The Commission will
Liquidity Program (‘‘Program’’).2 The
30-day operative delay is consistent post all comments on the Commission’s
limited exemption was granted
with the protection of investors and the Internet Web site (http://www.sec.gov/
concurrently with the Commission’s
public interest. Therefore, the rules/sro.shtml). Copies of the approval of the Exchange’s proposal to
Commission designates the proposed submission, all subsequent adopt the Program for a one-year pilot
rule change operative upon filing.17 amendments, all written statements term.3 The exemption was granted
At any time within 60 days of the with respect to the proposed rule coterminous with the effectiveness of
filing of the proposed rule change, the change that are filed with the the pilot Program; both the pilot
Commission summarily may Commission, and all written Program and exemption are scheduled
temporarily suspend such rule change if communications relating to the to expire on December 31, 2016.4
it appears to the Commission that such proposed rule change between the
action is necessary or appropriate in the Commission and any person, other than 18 17 CFR 200.30–3(a)(12).
public interest, for the protection of those that may be withheld from the 1 17 CFR 242.612(c).
investors, or otherwise in furtherance of public in accordance with the 2 See Securities Exchange Act Release No. 71176

the purposes of the Act. If the provisions of 5 U.S.C. 552, will be (Dec. 23, 2013), 78 FR 79524 (Dec. 30, 2013) (SR–
Commission takes such action, the NYSEArca–2013–107) (‘‘Order’’).
available for Web site viewing and 3 See id.
Commission shall institute proceedings printing in the Commission’s Public 4 The pilot term of the Program was originally
to determine whether the proposed rule Reference Room, 100 F Street NE., scheduled to end on April 14, 2015, but the
should be approved or disapproved. Washington, DC 20549, on official Exchange initially extended the term through
September 30, 2015, see Securities Exchange Act
business days between the hours of Release No. 74572 (Mar. 24, 2015), 80 FR 16705
13 15 U.S.C. 78s(b)(3)(A)(iii).
14 17
10:00 a.m. and 3:00 p.m. Copies of the (Mar. 30, 2015) (NYSEArca–2015–22), and then,
CFR 240.19b–4(f)(6). In addition, Rule 19b– through various extensions, through December 31,
4(f)(6) requires a self-regulatory organization to give filing also will be available for
2016. See Securities Exchange Act Release Nos.
the Commission written notice of its intent to file inspection and copying at the principal 75994 (Sept. 28, 2015), 80 FR 59834 (Oct. 2, 2015)
the proposed rule change at least five business days office of the Exchange. All comments (SR–NYSEArca–2015–84), 77236 (Feb. 25, 2016), 81
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
received will be posted without change; FR 10943 (Mar. 2, 2016) (SR–NYSEArca–2016–30),
77425 (Mar. 23, 2016), 81 FR 17523 (Mar. 29, 2016)
Commission. The Commission deems this the Commission does not edit personal (SR–NYSEArca–2016–47), and 78601 (Aug. 17,
requirement to have been met. identifying information from
asabaliauskas on DSK3SPTVN1PROD with NOTICES

2016), 81 FR 57632 (Aug. 23, 2016) (SR–NYSEArca–
15 17 CFR 240.19b–4(f)(6)(iii).
submissions. You should submit only 2016–113). Each time the pilot term of the Program
16 See NASDAQ Phlx LLC Rule 909, The
information that you wish to make was extended, the Commission also granted the
NASDAQ Stock Market LLC Rule 7007, NASDAQ Exchange’s request to extend the Sub-Penny
Options Market LLC Rules at Chapter XV, Section available publicly. All submissions exemption. See Securities Exchange Act Release
1, NASDAQ BX, Inc. Rule 7011 and BX Option should refer to File Number SR–ISE– Nos. 74609 (Mar. 30, 2015), 80 FR 18272 (Apr. 3,
Rules at Chapter XV, Section 1. 2016–28 and should be submitted on or 2015); 76021 (Sept. 29, 2015), 80 FR 60207 (Oct. 5,
17 For purposes only of waiving the 30-day 2015); 77437 (Mar. 24, 2016), 81 FR 17752 (Mar. 30,
operative delay, the Commission has considered the before January 11, 2017. 2016); and 78677 (Aug. 25, 2016), 81 FR 60037
proposed rule’s impact on efficiency, competition, (Aug. 31, 2016). The current exemption expires
and capital formation. See 15 U.S.C. 78c(f). December 31, 2016.

VerDate Sep<11>2014 18:38 Dec 20, 2016 Jkt 241001 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 E:\FR\FM\21DEN1.SGM 21DEN1
Document Created: 2018-02-14 09:12:11
Document Modified: 2018-02-14 09:12:11
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 93718