82 FR 14259 - Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 11.27 To Modify the Date of Appendix B Web Site Data Publication Pursuant to the Regulation NMS Plan To Implement a Tick Size Pilot Program
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 51 (March 17, 2017)
Federal Register Volume 82, Issue 51 (March 17, 2017)
| Page Range | 14259-14261 | |
| FR Document | 2017-05336 |
[Federal Register Volume 82, Number 51 (Friday, March 17, 2017)] [Notices] [Pages 14259-14261] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-05336] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-80220; File No. SR-BatsBYX-2017-05] Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 11.27 To Modify the Date of Appendix B Web Site Data Publication Pursuant to the Regulation NMS Plan To Implement a Tick Size Pilot Program March 13, 2017. 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 February 28, 2017, Bats BYX Exchange, Inc. (the ``Exchange'' or ``BYX'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has designated this proposal as a ``non-controversial'' proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and Rule 19b- 4(f)(6)(iii) thereunder,\4\ which renders it effective upon filing with the Commission. 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. \3\ 15 U.S.C. 78s(b)(3)(A). \4\ 17 CFR 240.19b-4(f)(6)(iii). --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange filed a proposal to amend Rule 11.27 to modify the date of Appendix B Web site data publication pursuant to the Regulation NMS Plan to Implement a Tick Size Pilot Program (``Plan''). The text of the proposed rule change is available at the Exchange's Web site at www.bats.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 parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Rule 11.27(b) (Compliance with Data Collection Requirements) \5\ implements the data collection and Web site publication requirements of the Plan.\6\ Rule 11.27(b).08 provides, among other things, that the requirement that the Exchange or Designated Examining Authority (``DEA'') make certain data publicly available on their Web site pursuant to Appendix B and C to the Plan shall commence at the beginning of the Pilot Period,\7\ and that the Exchange or DEA shall make data for the Pre-Pilot Period publicly available on their Web site pursuant to Appendix B and C to the Plan by February 28, 2017.\8\ --------------------------------------------------------------------------- \5\ See Exchange Rule 11.27(b). See also Securities Exchange Act Release Nos. 77418 (March 22, 2016), 81 FR 17213 (March 28, 2016); and 78795 (September 9, 2016), 81 FR 63508 (September 15, 2016). \6\ The Participants filed the Plan to comply with an order issued by the Commission on June 24, 2014. See Letter from Brendon J. Weiss, Vice President, Intercontinental Exchange, Inc., to Secretary, Commission, dated August 25, 2014 (``SRO Tick Size Plan Proposal''). See Securities Exchange Act Release No. 72460 (June 24, 2014), 79 FR 36840 (June 30, 2014); see also Securities Exchange Act Release No. 74892 (May 6, 2015), 80 FR 27513 (May 13, 2015). \7\ Unless otherwise defined herein, capitalized terms have the meaning ascribed to them in Rule 11.27. \8\ On November 30, 2016, the SEC granted exemptive relief to the Participants, and the Exchange filed proposed rule changes to, among other things, delay the publication of Web site data pursuant to Appendices B and C to the Plan until February 28, 2017, and to delay the ongoing Web site publication by ninety days such that data would be published within 120 calendar days following the end of the month. See Letter from David S. Shillman, Associate Director, Division of Trading and Markets, Commission, to Marcia E. Asquith, Senior Vice President and Corporate Secretary, FINRA dated November 30, 2016; see also Securities Exchange Act Release No. 79534 (December 13, 2016), 81 FR 91965 (December 19, 2016) (Notice of Filing and Immediate Effectiveness of File No. SR-BatsBYX-2016-37). --------------------------------------------------------------------------- The Exchange is proposing amendments to Rule 11.27(b).08 to delay the date by which Pre-Pilot and Pilot Appendix B data is to be made publicly available on the Exchange or DEA's Web site from February 28, 2017, until April 28, 2017.\9\ Appendix C data [[Page 14260]] for the Pre-Pilot Period through the month of January 2017, will be published on the Exchange or DEA's Web site on February 28, 2017, and, thereafter, on the original 30-day schedule. --------------------------------------------------------------------------- \9\ In addition, the Exchange is proposing an amendment to Rule 11.27(a)(6)(B) to clarify that no member, irrespective of whether that member operates a trading center, may execute orders in any Pilot Security in Test Group Three in price increments other than $0.05, unless an exception applies. This proposed amendment makes the rule consistent with the Plan and conforms subparagraph (a)(6)(B) with subparagraph (a)(5)(B). --------------------------------------------------------------------------- In the SRO Tick Size Plan Proposal, the Participants stated that the public data will be made available for free ``on a disaggregated basis by trading center'' on the Web sites of the Participants and the Designated Examining Authorities.\10\ However, market participants have expressed confidentiality concerns regarding this approach for over- the-counter (``OTC'') data.\11\ Thus, the Exchange is filing the instant proposed rule change to provide additional time to assess a means of addressing the confidentiality concerns raised in connection with the publication of Appendix B data related to OTC activity in furtherance of the objectives of the Plan.\12\ Pursuant to this amendment, Appendix B data publication will be delayed until April 28, 2017. The Participants anticipate filing an additional proposed rule change in the near future to address the Appendix B data publication. --------------------------------------------------------------------------- \10\ See Securities Exchange Act Release No. 73511 (November 3, 2014), 79 FR 66423 (November 7, 2014) (Notice of Filing of Proposed National Market System Plan to Implement a Tick Size Pilot Program on a One-Year Pilot Basis, File No. 4-657) (``Tick Size Plan Proposal''). \11\ See letters from Adam C. Cooper, Senior Managing Director and Chief Legal Officer, Citadel Securities, to Brent J. Fields, Secretary, Commission, dated December 21, 2016 (``Citadel letter''); and William Hebert, Managing Director, Financial Information Forum, to Robert W. Errett, Deputy Secretary, Commission, dated December 21, 2016 (``FIF letter''). \12\ FINRA, on behalf of the Exchange, also is submitting an exemptive request with the SEC in connection with the instant filing. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act \13\ in general, and furthers the objectives of Section 6(b)(5) of the Act \14\ 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. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b). \14\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Plan is designed to allow the Commission, market participants, and the public to study and assess the impact of increment conventions on the liquidity and trading of the common stock of small- capitalization companies. The Exchange believes that this proposal is consistent with the Act because it is in furtherance of the objectives of Section VII(A) of the Plan in that it is designed to provide the Exchange with additional time to assess a means of addressing the confidentiality concerns raised in connection with the publication of Appendix B data, to comply with the Plan's requirements that the data made publicly available will not identify the trading center that generated the data. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange notes that the proposed rule change implements the provisions of the Plan. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor 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) of the Act \15\ and Rule 19b- 4(f)(6) thereunder.\16\ --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A). \16\ 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii), the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has filed the proposed rule change for immediate effectiveness and has requested that the Commission waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing so that it may become operative on February 28, 2017. The Exchange notes that the proposed rule change is intended to address confidentiality concerns raised in connection with the publication of OTC Appendix B data by permitting the Exchange to delay Web site publication of its Appendix B data from February 28, 2017 to April 28, 2017.\17\ The Exchange notes that the delay would provide additional time to assess a means of addressing the confidentiality concerns. The Exchange notes that it expects Participants to file proposed rule changes related to publishing Appendix B data. --------------------------------------------------------------------------- \17\ See supra note 11. The Commission notes that FINRA has submitted a proposed rule change to delay the publication of OTC Appendix B data. See SR-FINRA-2017-005. --------------------------------------------------------------------------- The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because it will allow the Exchange to delay publication of its Appendix B data until April 28, 2017. As noted above, commenters continue to raise concerns about the publication of OTC Appendix B data.\18\ Delaying publication of Exchange's Appendix B data \19\ will prevent the publication of partial (i.e., Exchange-only) Appendix B data required under the Plan. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative on February 28, 2017.\20\ --------------------------------------------------------------------------- \18\ The Commission notes that FINRA has filed a proposed rule change that is intended to mitigate confidentiality concerns raised by commenters regarding the publication of OTC Appendix B data. See SR-FINRA-2017-006. \19\ The Commission notes that other Participants have proposed to delay the publication of their Appendix B data until April 28, 2017. See SR-BatsBZX-2017-15; SR-BatsEDGA-2017-05; SR-BatsEDGX-2017- 13; SR-BX-2017-016; SR-CHX-2017-05; SR-FINRA-2017-005; SR-IEX-2017- 07; SR-NASDAQ-2017-024; SR-Phlx-2017-22; SR-NYSE-2017-10; SR- NYSEArca-2017-19; SR-NYSEMKT-2017-11. \20\ For purposes only of waiving the operative delay for this proposal, 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, [[Page 14261]] including whether the proposal 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 No. SR-BatsBYX-2017-05 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 No. SR-BatsBYX-2017-05. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of such filing will also 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 No. SR-BatsBYX-2017-05 and should be submitted on or before April 7, 2017. --------------------------------------------------------------------------- \21\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\21\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-05336 Filed 3-16-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices 14259
securities; and Part IIB, which must be SECURITIES AND EXCHANGE Exchange has prepared summaries, set
filed by specialized broker-dealers COMMISSION forth in Sections A, B, and C below, of
registered with the Commission as OTC the most significant parts of such
[Release No. 34–80220; File No. SR–
derivatives dealers; 2 (3) supplemental statements.
BatsBYX–2017–05]
schedules, which must be filed A. Self-Regulatory Organization’s
annually; and (4) a facing page, which Self-Regulatory Organizations; Bats Statement of the Purpose of, and
must be filed with the annual audited BYX Exchange, Inc.; Notice of Filing Statutory Basis for, the Proposed Rule
report of financial statements. Under the and Immediate Effectiveness of a Change
rule, a broker or dealer that computes Proposed Rule Change To Amend
Exchange Rule 11.27 To Modify the 1. Purpose
certain of its capital charges in
accordance with Appendix E to Date of Appendix B Web Site Data Rule 11.27(b) (Compliance with Data
Exchange Act Rule 15c3–1 must file Publication Pursuant to the Regulation Collection Requirements) 5 implements
additional monthly, quarterly, and NMS Plan To Implement a Tick Size the data collection and Web site
annual reports with the Commission. Pilot Program publication requirements of the Plan.6
Rule 11.27(b).08 provides, among other
The Commission estimates that the March 13, 2017. things, that the requirement that the
total hours burden under Rule 17a–5 is Pursuant to Section 19(b)(1) of the Exchange or Designated Examining
approximately 356,020 hours per year Securities Exchange Act of 1934 (the Authority (‘‘DEA’’) make certain data
when annualized, and the total cost ‘‘Act’’),1 and Rule 19b–4 thereunder,2 publicly available on their Web site
burden under Rule 17a–5 is notice is hereby given that on February pursuant to Appendix B and C to the
approximately $45,133,148 per year. 28, 2017, Bats BYX Exchange, Inc. (the Plan shall commence at the beginning of
‘‘Exchange’’ or ‘‘BYX’’) filed with the the Pilot Period,7 and that the Exchange
Written comments are invited on: (a)
Securities and Exchange Commission or DEA shall make data for the Pre-Pilot
Whether the proposed collection of
(‘‘Commission’’) the proposed rule Period publicly available on their Web
information is necessary for the proper change as described in Items I and II
performance of the functions of the site pursuant to Appendix B and C to
below, which Items have been prepared the Plan by February 28, 2017.8
Commission, including whether the by the Exchange. The Exchange has The Exchange is proposing
information shall have practical utility; designated this proposal as a ‘‘non- amendments to Rule 11.27(b).08 to
(b) the accuracy of the Commission’s controversial’’ proposed rule change delay the date by which Pre-Pilot and
estimate of the burden of the proposed pursuant to Section 19(b)(3)(A) of the Pilot Appendix B data is to be made
collection of information; (c) ways to Act 3 and Rule 19b–4(f)(6)(iii) publicly available on the Exchange or
enhance the quality, utility, and clarity thereunder,4 which renders it effective DEA’s Web site from February 28, 2017,
of the information collected; and (d) upon filing with the Commission. The until April 28, 2017.9 Appendix C data
ways to minimize the burden of the Commission is publishing this notice to
collection of information on solicit comments on the proposed rule 5 See Exchange Rule 11.27(b). See also Securities
respondents, including through the use change from interested persons. Exchange Act Release Nos. 77418 (March 22, 2016),
of automated collection techniques or 81 FR 17213 (March 28, 2016); and 78795
I. Self-Regulatory Organization’s (September 9, 2016), 81 FR 63508 (September 15,
other forms of information technology. Statement of the Terms of Substance of 2016).
Consideration will be given to the Proposed Rule Change
6 The Participants filed the Plan to comply with
comments and suggestions submitted in an order issued by the Commission on June 24,
writing within 60 days of this The Exchange filed a proposal to 2014. See Letter from Brendon J. Weiss, Vice
amend Rule 11.27 to modify the date of President, Intercontinental Exchange, Inc., to
publication. Secretary, Commission, dated August 25, 2014
Appendix B Web site data publication (‘‘SRO Tick Size Plan Proposal’’). See Securities
An agency may not conduct or pursuant to the Regulation NMS Plan to Exchange Act Release No. 72460 (June 24, 2014), 79
sponsor, and a person is not required to Implement a Tick Size Pilot Program FR 36840 (June 30, 2014); see also Securities
respond to, a collection of information (‘‘Plan’’). Exchange Act Release No. 74892 (May 6, 2015), 80
under the PRA unless it displays a FR 27513 (May 13, 2015).
The text of the proposed rule change 7 Unless otherwise defined herein, capitalized
currently valid OMB control number. is available at the Exchange’s Web site terms have the meaning ascribed to them in Rule
Please direct your written comments at www.bats.com, at the principal office 11.27.
to: Pamela Dyson, Director/Chief of the Exchange, and at the 8 On November 30, 2016, the SEC granted
Commission’s Public Reference Room. exemptive relief to the Participants, and the
Information Officer, Securities and Exchange filed proposed rule changes to, among
Exchange Commission, c/o Remi Pavlik- II. Self-Regulatory Organization’s other things, delay the publication of Web site data
Simon, 100 F Street NE., Washington, Statement of the Purpose of, and pursuant to Appendices B and C to the Plan until
February 28, 2017, and to delay the ongoing Web
DC 20549, or send an email to PRA_ Statutory Basis for, the Proposed Rule site publication by ninety days such that data
Mailbox@sec.gov. Change would be published within 120 calendar days
following the end of the month. See Letter from
Dated: March 14, 2017. In its filing with the Commission, the David S. Shillman, Associate Director, Division of
Eduardo A. Aleman, Exchange included statements Trading and Markets, Commission, to Marcia E.
Assistant Secretary. concerning the purpose of and basis for Asquith, Senior Vice President and Corporate
the proposed rule change and discussed Secretary, FINRA dated November 30, 2016; see
[FR Doc. 2017–05362 Filed 3–16–17; 8:45 am] also Securities Exchange Act Release No. 79534
asabaliauskas on DSK3SPTVN1PROD with NOTICES
any comments it received on the (December 13, 2016), 81 FR 91965 (December 19,
BILLING CODE 8011–01–P
proposed rule change. The text of these 2016) (Notice of Filing and Immediate Effectiveness
statements may be examined at the of File No. SR–BatsBYX–2016–37).
9 In addition, the Exchange is proposing an
places specified in Item IV below. The
amendment to Rule 11.27(a)(6)(B) to clarify that no
1 15
member, irrespective of whether that member
2 Part IIB of Form X–17A–5 must be filed by OTC U.S.C. 78s(b)(1). operates a trading center, may execute orders in any
derivatives dealers under Exchange Act Rule 17a– 2 17 CFR 240.19b–4. Pilot Security in Test Group Three in price
12 and is subject to a separate PRA filing (OMB 3 15 U.S.C. 78s(b)(3)(A).
increments other than $0.05, unless an exception
control number 3235–0498). 4 17 CFR 240.19b–4(f)(6)(iii). Continued
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![Federal Register / Vol. 82, No. 51 / Friday, March 17, 2017 / Notices 14261
including whether the proposal is SECURITIES AND EXCHANGE transaction fees at Rule 7018 to add a
consistent with the Act. Comments may COMMISSION reduced fee for providing liquidity on
be submitted by any of the following the BX equity market if certain volume
[Release No. 34–80224; File No. SR–BX–
methods: 2017–017]
requirements are met. The Exchange
operates on the ‘‘taker-maker’’ model,
Electronic Comments whereby it pays rebates to members that
Self-Regulatory Organizations;
• Use the Commission’s Internet NASDAQ BX, Inc.; Notice of Filing and take liquidity and charges fees to
comment form (http://www.sec.gov/ Immediate Effectiveness of Proposed members that provide liquidity.
rules/sro.shtml); or Rule Change To Amend the Currently, a member that adds liquidity
Exchange’s Transaction Fees at Rule through a displayed order and that does
• Send an email to rule-comments@ not qualify for one of the current
sec.gov. Please include File No. SR– 7018
reduced fees would be assessed a charge
BatsBYX–2017–05 on the subject line. March 13, 2017. of $0.0020 per share executed. With this
Paper Comments Pursuant to Section 19(b)(1) of the proposal, the Exchange proposes to
Securities Exchange Act of 1934 charge $0.0018 per share executed for a
• Send paper comments in triplicate (‘‘Act’’),1 and Rule 19b–4 thereunder,2 displayed order entered by a member
to Secretary, Securities and Exchange notice is hereby given that on March 1, that adds liquidity equal to or exceeding
Commission, 100 F Street NE., 2017, NASDAQ BX, Inc. (‘‘BX’’ or the member’s Growth Target. The
Washington, DC 20549–1090. ‘‘Exchange’’) filed with the Securities Growth Target is defined as the liquidity
and Exchange Commission (‘‘SEC’’ or the member added in January 2017 as a
All submissions should refer to File No. ‘‘Commission’’) the proposed rule percent of total Consolidated Volume
SR–BatsBYX–2017–05. This file number change as described in Items I, II, and plus 0.04% of total Consolidated
should be included on the subject line III, below, which Items have been Volume.3 As such, if the member added
if email is used. To help the prepared by the Exchange. The liquidity that represented 0.10% of total
Commission process and review your Commission is publishing this notice to Consolidated Volume in January, the
comments more efficiently, please use solicit comments on the proposed rule member’s Growth Target would be
only one method. The Commission will change from interested persons. 0.14% of total Consolidated Volume. A
post all comments on the Commission’s member that added 0.14% of total
Internet Web site (http://www.sec.gov/ I. Self-Regulatory Organization’s
Statement of the Terms of Substance of Consolidated Volume in March would
rules/sro.shtml). Copies of the therefore qualify for the reduced fee in
submission, all subsequent the Proposed Rule Change
March.4
amendments, all written statements The Exchange proposes to amend the The purpose of this reduced fee is to
with respect to the proposed rule Exchange’s transaction fees at Rule 7018 incentivize members to add additional
change that are filed with the to add a new charge for providing liquidity to the Exchange, thereby
Commission, and all written liquidity on the BX equity market. increasing the market quality of the
communications relating to the The text of the proposed rule change Exchange and benefitting all
proposed rule change between the is available on the Exchange’s Web site participants.
Commission and any person, other than at http://nasdaqbx.cchwallstreet.com/,
those that may be withheld from the at the principal office of the Exchange, 2. Statutory Basis
public in accordance with the and at the Commission’s Public The Exchange believes that its
provisions of 5 U.S.C. 552, will be Reference Room. proposal is consistent with Section 6(b)
available for Web site viewing and II. Self-Regulatory Organization’s of the Act,5 in general, and furthers the
printing in the Commission’s Public Statement of the Purpose of, and objectives of Sections 6(b)(4) and 6(b)(5)
Reference Room, 100 F Street NE., Statutory Basis for, the Proposed Rule of the Act,6 in particular, in that it
Washington, DC 20549, on official Change provides for the equitable allocation of
business days between the hours of reasonable dues, fees and other charges
10:00 a.m. and 3:00 p.m. Copies of such In its filing with the Commission, the among members and issuers and other
filing will also be available for Exchange included statements persons using any facility, and is not
inspection and copying at the principal concerning the purpose of and basis for designed to permit unfair
office of the Exchange. All comments the proposed rule change and discussed discrimination between customers,
received will be posted without change; any comments it received on the issuers, brokers, or dealers.
the Commission does not edit personal proposed rule change. The text of these The Exchange believes the proposed
identifying information from statements may be examined at the fee of $0.0018 per share executed is
submissions. You should submit only places specified in Item IV below. The reasonable. The charge for adding
information that you wish to make Exchange has prepared summaries, set
available publicly. All submissions forth in sections A, B, and C below, of 3 Rule 7018(a) defines ‘‘Consolidated Volume’’ as
the most significant aspects of such the total consolidated volume reported to all
should refer to File No. SR–BatsBYX– consolidated transaction reporting plans by all
2017–05 and should be submitted on or statements. exchanges and trade reporting facilities during a
before April 7, 2017. A. Self-Regulatory Organization’s month in equity securities, excluding executed
orders with a size of less than one round lot. For
For the Commission, by the Division of Statement of the Purpose of, and purposes of calculating Consolidated Volume and
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Trading and Markets, pursuant to delegated Statutory Basis for, the Proposed Rule the extent of a member’s trading activity, the date
authority.21 Change of the annual reconstitution of the Russell
Investments Indexes shall be excluded from both
Eduardo A. Aleman, 1. Purpose total Consolidated Volume and the member’s
Assistant Secretary. trading activity.
The purpose of the proposed rule 4 If a member was not active in the month of
[FR Doc. 2017–05336 Filed 3–16–17; 8:45 am]
change is to amend the Exchange’s January, its Growth Target would be 0.04% for
BILLING CODE 8011–01–P purposes of determining the eligibility for this fee.
1 15 U.S.C. 78s(b)(1). 5 15 U.S.C. 78f(b).
21 17 CFR 200.30–3(a)(12). 2 17 CFR 240.19b–4. 6 15 U.S.C. 78f(b)(4) and (5).
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Document Created: 2017-03-17 02:48:50
Document Modified: 2017-03-17 02:48:50
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
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| Section | Notices | |
| FR Citation | 82 FR 14259 |
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