81_FR_93967 81 FR 93722 - Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove Direct Debit for Market Data Products

81 FR 93722 - Self-Regulatory Organizations; ISE Gemini, 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 Range93722-93723
FR Document2016-30695

Federal Register, Volume 81 Issue 245 (Wednesday, December 21, 2016)
[Federal Register Volume 81, Number 245 (Wednesday, December 21, 2016)]
[Notices]
[Pages 93722-93723]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-30695]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79562; File No. SR-ISEGemini-2016-20]


Self-Regulatory Organizations; ISE Gemini, 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, ISE Gemini, LLC (``ISE Gemini'' 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 209 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 and 206.\6\ The proposed amendment would exclude 
from Rule 209 the fees set forth in Chapter V (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. 79013 (September 30, 
2016), 81 FR 69556 (October 6, 2016) (SR-ISEGemini-2016-12).
    \4\ Exchange fees are noted on the Exchange Schedule of Fees, 
available at: http://www.ise.com/geminifees.
    \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 Gemini Rules 205 (Participant Fees) and 206 
(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.
---------------------------------------------------------------------------

    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 209, in each case for the previous month's 
billing.
---------------------------------------------------------------------------

    \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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[[Page 93723]]

    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\
---------------------------------------------------------------------------

    \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.
---------------------------------------------------------------------------

    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 Gemini 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 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\
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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-ISEGemini-2016-20 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-ISEGemini-2016-20. 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-ISEGemini-2016-20 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. 2016-30695 Filed 12-20-16; 8:45 am]
 BILLING CODE 8011-01-P



                                                    93722                    Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices

                                                    number should be included on the                        ‘‘Commission’’) the proposed rule                     monies due and owing to the Exchange 5
                                                    subject line if email is used. To help the              change as described in Items I and II,                or other charges related to Rules 205
                                                    Commission process and review your                      below, which Items have been prepared                 and 206.6 The proposed amendment
                                                    comments more efficiently, please use                   by the Exchange. The Commission is                    would exclude from Rule 209 the fees
                                                    only one method. The Commission will                    publishing this notice to solicit                     set forth in Chapter V (Market Data) of
                                                    post all comments on the Commission’s                   comments on the proposed rule change                  the Exchange’s Schedule of Fees 7 to
                                                    Internet Web site (http://www.sec.gov/                  from interested persons.                              harmonize the direct debit process
                                                    rules/sro.shtml). Copies of the                                                                               across all Nasdaq Exchanges.8
                                                    submission, all subsequent                              I. Self-Regulatory Organization’s
                                                                                                            Statement of the Terms of Substance of                   The Exchange proposes that this rule
                                                    amendments, all written statements                                                                            change become operative on December
                                                    with respect to the proposed rule                       the Proposed Rule Change
                                                                                                                                                                  1, 2016. On November 23, 2016, the
                                                    change that are filed with the                             The Exchange proposes to remove                    Exchange applied direct debit to its
                                                    Commission, and all written                             direct debit for market data products, as             members for October 2016 billing 9
                                                    communications relating to the                          described in more detail below.                       pursuant to the process currently in
                                                    proposed rule change between the                           The text of the proposed rule change               place. Under the proposed amendment
                                                    Commission and any person, other than                   is available on the Exchange’s Web site               and starting December 2016, the
                                                    those that may be withheld from the                                                                           Exchange will bill the market data fees
                                                                                                            at www.ise.com, at the principal office
                                                    public in accordance with the                                                                                 separately and will continue to direct
                                                                                                            of the Exchange, and at the
                                                    provisions of 5 U.S.C. 552, will be                                                                           debit its members for all of the other
                                                                                                            Commission’s Public Reference Room.
                                                    available for Web site viewing and                                                                            fees that are covered under Rule 209, in
                                                    printing in the Commission’s Public                     II. Self-Regulatory Organization’s                    each case for the previous month’s
                                                    Reference Room, 100 F Street NE.,                       Statement of the Purpose of, and                      billing.
                                                    Washington, DC 20549 on official                        Statutory Basis for, the Proposed Rule
                                                    business days between the hours of                      Change                                                2. Statutory Basis
                                                    10:00 a.m. and 3:00 p.m. Copies of such
                                                                                                              In its filing with the Commission, the                 The Exchange believes that its
                                                    filing also will be available for
                                                    inspection and copying at the principal                 Exchange included statements                          proposal is consistent with Section 6(b)
                                                    office of FINRA. All comments received                  concerning the purpose of and basis for               of the Act,10 in general, and furthers the
                                                    will be posted without change; the                      the proposed rule change and discussed                objectives of Section 6(b)(5) of the Act,11
                                                    Commission does not edit personal                       any comments it received on the                       in particular, in that it is designed to
                                                    identifying information from                            proposed rule change. The text of these               promote just and equitable principles of
                                                    submissions. You should submit only                     statements may be examined at the                     trade, to foster cooperation and
                                                    information that you wish to make                       places specified in Item IV below. The                coordination with persons engaged in
                                                    available publicly. All submissions                     Exchange has prepared summaries, set                  facilitating transactions in securities, to
                                                    should refer to File Number SR–FINRA–                   forth in sections A, B, and C below, of               remove impediments to and perfect the
                                                    2016–045, and should be submitted on                    the most significant aspects of such                  mechanism of a free and open market
                                                    or before January 11, 2017.                             statements.                                           and a national market system, and, in
                                                                                                                                                                  general to protect investors and the
                                                      For the Commission, by the Division of                A. Self-Regulatory Organization’s                     public interest by providing members
                                                    Trading and Markets, pursuant to delegated              Statement of the Purpose of, and
                                                    authority.15                                                                                                  with a harmonized process to pay
                                                                                                            Statutory Basis for, the Proposed Rule                undisputed or final fees, fines, charges
                                                    Eduardo A. Aleman,                                      Change                                                and/or monetary sanctions or monies
                                                    Assistant Secretary.
                                                                                                            1. Purpose                                            due and owing to the Exchange.
                                                    [FR Doc. 2016–30689 Filed 12–20–16; 8:45 am]
                                                    BILLING CODE 8011–01–P                                    The purpose of the proposed rule                      5 This includes, among other things, fines which
                                                                                                            change is to remove direct debit for                  result from the imposition of fines pursuant to
                                                                                                            market data products. Today, the                      Rules 1611, Judgment and Sanction; and 1614,
                                                    SECURITIES AND EXCHANGE                                 Exchange requires all of its members to               Imposition of Fines for Minor Rules Violations.
                                                    COMMISSION                                                                                                    With respect to disciplinary sanctions that are
                                                                                                            provide a clearing account number at                  imposed by either the Business Conduct Committee
                                                    [Release No. 34–79562; File No. SR–                     the National Securities Clearing                      or a Hearing Panel, the Exchange would not debit
                                                    ISEGemini–2016–20]                                      Corporation (‘‘NSCC’’) for purposes of                any monies until such action is final. The Exchange
                                                                                                            permitting the Exchange to debit any                  would not consider an action final until all appeal
                                                    Self-Regulatory Organizations; ISE                                                                            periods have run and/or all appeal timeframes are
                                                                                                            undisputed or final fees, fines, charges              exhausted. With respect to non-disciplinary actions,
                                                    Gemini, LLC; Notice of Filing and                       and/or other monetary sanctions or                    the Exchange would similarly not take action to
                                                    Immediate Effectiveness of Proposed                     monies due and owing to the                           debit a Member account until all appeal periods
                                                    Rule Change To Remove Direct Debit                      Exchange.3 Specifically, Rule 209                     have run and/or all appeal timeframes are
                                                    for Market Data Products                                                                                      exhausted. Any uncontested disciplinary or non-
                                                                                                            currently requires members, and all                   disciplinary actions will be debited, and the
                                                                                                            applicants for registration as such to                amount due will appear on the Member’s invoice
                                                    December 15, 2016.
                                                                                                            provide a clearing account number for                 prior to the actual NSCC debit.
                                                       Pursuant to Section 19(b)(1) of the
                                                                                                            an account at NSCC for purposes of                      6 See ISE Gemini Rules 205 (Participant Fees) and
                                                    Securities Exchange Act of 1934                                                                               206 (Liability for Payment of Fees).
                                                                                                            permitting the Exchange to debit any
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                    (‘‘Act’’),1 and Rule 19b–4 thereunder,2                                                                         7 See note 4.
                                                                                                            undisputed or final fees,4 fines, charges
                                                    notice is hereby given that on December                                                                         8 The NASDAQ Stock Market LLC, The NASDAQ
                                                                                                            and/or other monetary sanctions or                    Options Market LLC, NASDAQ PHLX LLC, and
                                                    1, 2016, ISE Gemini, LLC (‘‘ISE Gemini’’
                                                                                                                                                                  NASDAQ BX, Inc. (the ‘‘Nasdaq Exchanges’’) do not
                                                    or ‘‘Exchange’’) filed with the Securities                                                                    direct debit any fees for market data products.
                                                                                                              3 See Securities Exchange Act Release No. 79013
                                                    and Exchange Commission (‘‘SEC’’ or                     (September 30, 2016), 81 FR 69556 (October 6,           9 The debit for October 2016 billing included all

                                                                                                            2016) (SR–ISEGemini–2016–12).                         outstanding fees, including the fees for market data,
                                                      15 17 CFR 200.30–3(a)(12).                              4 Exchange fees are noted on the Exchange           through October 1, 2016.
                                                      1 15 U.S.C. 78s(b)(1).                                                                                        10 15 U.S.C. 78f(b).
                                                                                                            Schedule of Fees, available at: http://www.ise.com/
                                                      2 17 CFR 240.19b–4.                                   geminifees.                                             11 15 U.S.C. 78f(b)(5).




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                                                                              Federal Register / Vol. 81, No. 245 / Wednesday, December 21, 2016 / Notices                                                93723

                                                       The Exchange believes that its                         filing with the Commission, the                      file number should be included on the
                                                    proposal to remove the fees for market                    Exchange requests that the Commission                subject line if email is used. To help the
                                                    data products from the direct debit                       waive the 30-day operative delay. The                Commission process and review your
                                                    process is reasonable because it will not                 Exchange proposes that the new billing               comments more efficiently, please use
                                                    place any administrative burden on its                    process become operative on December                 only one method. The Commission will
                                                    members who are already subject to the                    1, 2016. Starting December 1, 2016, the              post all comments on the Commission’s
                                                    same billing process on all other Nasdaq                  Exchange will bill the market data fees              Internet Web site (http://www.sec.gov/
                                                    exchanges.12                                              separately and will continue to direct               rules/sro.shtml). Copies of the
                                                       The Exchange believes that its                         debit its members for all of the other               submission, all subsequent
                                                    proposal to remove the market data fees                   fees that are covered under Rule 213, in             amendments, all written statements
                                                    as described above from the direct debit                  each case for the previous month’s                   with respect to the proposed rule
                                                    process is equitable and not unfairly                     billing. The Exchange represents that                change that are filed with the
                                                    discriminatory because it will apply to                   waiver of the 30-day operative delay                 Commission, and all written
                                                    all members in a uniform manner.                          would allow it to conform its billing                communications relating to the
                                                    B. Self-Regulatory Organization’s                         process similar to the process in place              proposed rule change between the
                                                    Statement on Burden on Competition                        at the Nasdaq exchanges.16 The                       Commission and any person, other than
                                                                                                              Commission believes that waiving the                 those that may be withheld from the
                                                      The Exchange does not believe that                      30-day operative delay is consistent                 public in accordance with the
                                                    the proposed rule change will impose                      with the protection of investors and the             provisions of 5 U.S.C. 552, will be
                                                    any burden on competition that is not                     public interest. Therefore, the                      available for Web site viewing and
                                                    necessary or appropriate in furtherance                   Commission designates the proposed                   printing in the Commission’s Public
                                                    of the purposes of the Act. With this                     rule change operative upon filing.17                 Reference Room, 100 F Street NE.,
                                                    proposal, the amended debit process                          At any time within 60 days of the                 Washington, DC 20549, on official
                                                    would apply uniformly to all ISE                          filing of the proposed rule change, the              business days between the hours of
                                                    Gemini members.                                           Commission summarily may                             10:00 a.m. and 3:00 p.m. Copies of the
                                                    C. Self-Regulatory Organization’s                         temporarily suspend such rule change if              filing also will be available for
                                                    Statement on Comments on the                              it appears to the Commission that such               inspection and copying at the principal
                                                    Proposed Rule Change Received From                        action is necessary or appropriate in the            office of the Exchange. All comments
                                                    Members, Participants, or Others                          public interest, for the protection of               received will be posted without change;
                                                                                                              investors, or otherwise in furtherance of            the Commission does not edit personal
                                                      No written comments were either                         the purposes of the Act. If the
                                                    solicited or received.                                                                                         identifying information from
                                                                                                              Commission takes such action, the                    submissions. You should submit only
                                                    III. Date of Effectiveness of the                         Commission shall institute proceedings               information that you wish to make
                                                    Proposed Rule Change and Timing for                       to determine whether the proposed rule               available publicly. All submissions
                                                    Commission Action                                         should be approved or disapproved.                   should refer to File Number SR–
                                                       Because the foregoing proposed rule                    IV. Solicitation of Comments                         ISEGemini–2016–20 and should be
                                                    change does not: (i) Significantly affect                   Interested persons are invited to                  submitted on or before January 11, 2017.
                                                    the protection of investors or the public                 submit written data, views, and                        For the Commission, by the Division of
                                                    interest; (ii) impose any significant                     arguments concerning the foregoing,                  Trading and Markets, pursuant to delegated
                                                    burden on competition; and (iii) become                   including whether the proposed rule                  authority.18
                                                    operative for 30 days from the date on                    change is consistent with the Act.                   Eduardo A. Aleman,
                                                    which it was filed, or such shorter time                  Comments may be submitted by any of                  Assistant Secretary.
                                                    as the Commission may designate, it has                   the following methods:                               [FR Doc. 2016–30695 Filed 12–20–16; 8:45 am]
                                                    become effective pursuant to Section
                                                                                                                                                                   BILLING CODE 8011–01–P
                                                    19(b)(3)(A)(iii) of the Act 13 and                        Electronic Comments
                                                    subparagraph (f)(6) of Rule 19b–4                           • Use the Commission’s Internet
                                                    thereunder.14                                             comment form (http://www.sec.gov/                    SECURITIES AND EXCHANGE
                                                       A proposed rule change filed under                     rules/sro.shtml); or                                 COMMISSION
                                                    Rule 19b–4(f)(6) normally does not                          • Send an email to rule-
                                                    become operative for 30 days after the                    comments@sec.gov. Please include File                [Release No. 34–79565; File No. SR–
                                                    date of filing. However, Rule 19b–                        Number SR–ISEGemini–2016–20 on the                   NYSEARCA–2016–163]
                                                    4(f)(6)(iii) 15 permits the Commission to                 subject line.
                                                    designate a shorter time if such action                                                                        Self-Regulatory Organizations; NYSE
                                                    is consistent with the protection of                      Paper Comments                                       Arca, Inc.; Notice of Filing and
                                                    investors and the public interest. In its                   • Send paper comments in triplicate                Immediate Effectiveness of Proposed
                                                                                                              to Secretary, Securities and Exchange                Rule Change Extending Its Program
                                                       12 See NASDAQ Phlx LLC Rule 909, The                   Commission, 100 F Street NE.,                        That Allows Transactions To Take
                                                    NASDAQ Stock Market LLC Rule 7007, NASDAQ                 Washington, DC 20549–1090.                           Place at a Price That Is Below $1 Per
                                                    Options Market LLC Rules at Chapter XV, Section
                                                    1, NASDAQ BX, Inc. Rule 7011 and BX Option                All submissions should refer to File                 Option Contract Until July 5, 2017
                                                    Rules at Chapter XV, Section 1.                           Number SR–ISEGemini–2016–20. This
asabaliauskas on DSK3SPTVN1PROD with NOTICES




                                                       13 15 U.S.C. 78s(b)(3)(A)(iii).
                                                                                                                                                                   December 15, 2016.
                                                       14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–         16 See NASDAQ Phlx LLC Rule 909, The
                                                                                                                                                                      Pursuant to Section 19(b)(1) 1 of the
                                                    4(f)(6) requires a self-regulatory organization to give   NASDAQ Stock Market LLC Rule 7007, NASDAQ            Securities Exchange Act of 1934 (the
                                                    the Commission written notice of its intent to file       Options Market LLC Rules at Chapter XV, Section      ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
                                                    the proposed rule change at least five business days      1, NASDAQ BX, Inc. Rule 7011 and BX Option
                                                    prior to the date of filing of the proposed rule          Rules at Chapter XV, Section 1.
                                                                                                                                                                     18 17 CFR 200.30–3(a)(12).
                                                    change, or such shorter time as designated by the            17 For purposes only of waiving the 30-day
                                                                                                                                                                     1 15 U.S.C.78s(b)(1).
                                                    Commission. The Commission deems this                     operative delay, the Commission has considered the
                                                    requirement to have been met.                             proposed rule’s impact on efficiency, competition,     2 15 U.S.C. 78a.
                                                       15 17 CFR 240.19b–4(f)(6)(iii).                        and capital formation. See 15 U.S.C. 78c(f).           3 17 CFR 240.19b–4.




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Document Created: 2018-02-14 09:11:38
Document Modified: 2018-02-14 09:11:38
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 93722 

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