82_FR_14608 82 FR 14555 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule on the BOX Market LLC (“BOX”) Options Facility

82 FR 14555 - Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule on the BOX Market LLC (“BOX”) Options Facility

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 53 (March 21, 2017)

Page Range14555-14556
FR Document2017-05496

Federal Register, Volume 82 Issue 53 (Tuesday, March 21, 2017)
[Federal Register Volume 82, Number 53 (Tuesday, March 21, 2017)]
[Notices]
[Pages 14555-14556]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-05496]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80246; File No. SR-BOX-2017-09]


Self-Regulatory Organizations; BOX Options Exchange LLC; Notice 
of Filing and Immediate Effectiveness of a Proposed Rule Change To 
Amend the Fee Schedule on the BOX Market LLC (``BOX'') Options Facility

March 15, 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 March 7, 2017, BOX Options Exchange LLC (the ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I, II, and III below, which 
Items have been prepared by the Exchange. The Exchange filed the 
proposed rule change pursuant to Section 19(b)(3)(A)(ii) of the Act,\3\ 
and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposal 
effective upon filing with the Commission. 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.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange is filing with the Securities and Exchange Commission 
(``Commission'') a proposed rule change to amend the Fee Schedule on 
the BOX Market LLC (``BOX'') options facility. While changes to the fee 
schedule pursuant to this proposal will be effective upon filing, the 
changes will become operative on March 8, 2017. The text of the 
proposed rule change is available from the principal office of the 
Exchange, at the Commission's Public Reference Room and also on the 
Exchange's Internet Web site at http://boxexchange.com.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
Sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend the Fee Schedule for trading on BOX. 
Specifically, the Exchange proposes to revise certain qualification 
thresholds in Sections I.B.1 of the BOX Fee Schedule, Primary 
Improvement Order and I.B.2 of the BOX Fee Schedule, the BOX Volume 
Rebate (``BVR'').
Primary Improvement Order
    Under the tiered fee schedule for Primary Improvement Orders, the 
Exchange assesses a per contract execution fee to all Primary 
Improvement Order executions where the corresponding PIP or COPIP Order 
is from the account of a Public Customer. Percentage thresholds are 
calculated on a monthly basis by totaling the Initiating Participant's 
Primary Improvement Order volume submitted to BOX, relative to the 
total national Customer volume in multiply-listed options classes. The 
Exchange proposes to delete current Tier 4 in its entirety and renumber 
the tiers accordingly. The Exchange also proposes to adjust the 
percentage threshold in proposed Tier 4. Specifically, the Exchange 
proposes to change proposed Tier 4 from ``0.800% and Above'' to 
``0.500% and Above.'' The Exchange notes that it is not proposing any 
changes to the fees within the Primary Improvement Order fee structure 
and the quantity submitted will continue to be calculated on a monthly 
basis by totaling the Initiating Participant's Primary Improvement 
Order volume submitted to BOX, relative to the total national Customer 
volume in multiply-listed options classes.
BVR
    Next, the Exchange proposes to adjust certain percentage thresholds 
within the BVR. Under the BVR, the Exchange offers a tiered per 
contract rebate for all Public Customer PIP Orders and COPIP Orders of 
100 and under contracts that do not trade solely with their contra 
order. Percentage thresholds are calculated on a monthly basis by 
totaling the Participant's PIP and COPIP volume submitted to BOX, 
relative to the total national Customer volume in multiply-listed 
options classes. The Exchange proposes to adjust the percentage 
thresholds in Tiers 3 and 4. Specifically, the Exchange proposes to 
change Tier 3 from ``0.340% to 0.799%'' to ``0.340% to 0.499%'' and 
Tier 4 from ``0.800% and Above'' to ``0.500% and Above.'' The Exchange 
notes that is it not proposing any changes to the fees within the BVR. 
The quantity submitted will continue to be calculated on a monthly 
basis by totaling the Participant's PIP and COPIP volume submitted to 
BOX, relative to the total national Customer volume in multiply-listed 
options classes.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of Section 6(b) of the Act, in general, and Section 
6(b)(4) and 6(b)(5)of the Act,\5\ in particular, in that it provides 
for the equitable allocation of reasonable dues, fees, and other 
charges among BOX Participants and other persons using its facilities 
and does not unfairly discriminate between customers, issuers, brokers 
or dealers.
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    \5\ 15 U.S.C. 78f(b)(4) and (5).
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    BOX believes it is reasonable, equitable and not unfairly 
discriminatory to adjust the monthly Percentage Thresholds of National 
Customer Volume in Multiply-Listed Options Classes. The volume 
thresholds with their tiered fees and rebates are meant to incentivize 
Participants to direct order flow to the Exchange to obtain the benefit 
of the lower fee or higher rebate, which in turn benefits all market 
participants by increasing liquidity on the Exchange.
    The Exchange believes the proposed amendments to the Primary 
Improvement Order percentage thresholds are reasonable, equitable and 
not unfairly discriminatory. The proposed changes to the thresholds are 
equitable and not unfairly discriminatory as they are available to all 
BOX Participants that initiate Auction Transactions, and Participants 
may choose whether or not to take

[[Page 14556]]

advantage of the percentage thresholds and their applicable discounted 
fees. Further, the Exchange believes that the proposed changes are 
reasonable and competitive as they will further incentivize 
Participants to direct order flow to the Exchange, benefiting all 
market participants.
    The Exchange also believes the proposed amendments to the BVR in 
Section I.B.2 of the BOX Fee Schedule are reasonable, equitable and not 
unfairly discriminatory. The BVR was adopted to attract Public Customer 
order flow to the Exchange by offering these Participants incentives to 
submit their Public Customer PIP and COPIP Orders to the Exchange and 
the Exchange believes it is appropriate to now amend the BVR. The 
Exchange believes it is equitable and not unfairly discriminatory to 
amend the BVR, as all Participants have the ability to qualify for a 
rebate, and rebates are provided equally to qualifying Participants. 
Other exchanges employ similar incentive programs; \6\ and the Exchange 
believes that the proposed changes to the volume thresholds are 
reasonable and competitive when compared to incentive structures at 
other exchanges. Finally, the Exchange believes it is reasonable and 
appropriate to continue to provide incentives for Public Customers, 
which will result in greater liquidity and ultimately benefit all 
Participants trading on the Exchange.
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    \6\ See Section B of the PHLX Pricing Schedule entitled 
``Customer Rebate Program;'' ISE Gemini's Qualifying Tier Thresholds 
(page 6 of the ISE Gemini Fee Schedule); and CBOE's Volume Incentive 
Program (VIP).
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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 not necessary or appropriate in 
furtherance of the purposes of the Act. The Exchange is simply 
proposing to amend certain percentage thresholds for Auction 
Transaction fees and rebates in the BOX Fee Schedule. The Exchange 
believes that the volume based rebates and fees increase intermarket 
and intramarket competition by incenting Participants to direct their 
order flow to the exchange, which benefits all participants by 
providing more trading opportunities and improves competition on the 
Exchange.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Exchange Act \7\ and Rule 19b-4(f)(2) 
thereunder,\8\ because it establishes or changes a due, or fee.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
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    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend the rule 
change if it appears to the Commission that the action is necessary or 
appropriate in the public interest, for the protection of investors, or 
would otherwise further 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-BOX-2017-09 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-BOX-2017-09. This file 
number should be included on the subject line if email is used. To help 
the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for Web site viewing and 
printing in the Commission's Public Reference Room, 100 F Street NE., 
Washington, DC 20549 on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-BOX-2017-09, and should be 
submitted on or before April 11, 2017.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-05496 Filed 3-20-17; 8:45 am]
 BILLING CODE 8011-01-P



                                                                                    Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices                                            14555

                                                    For the Commission, by the Division of                 II. Self-Regulatory Organization’s                    BVR
                                                  Trading and Markets, pursuant to delegated               Statement of the Purpose of, and                         Next, the Exchange proposes to adjust
                                                  authority.15                                             Statutory Basis for, the Proposed Rule                certain percentage thresholds within the
                                                  Eduardo A. Aleman,                                       Change                                                BVR. Under the BVR, the Exchange
                                                  Assistant Secretary.                                                                                           offers a tiered per contract rebate for all
                                                                                                             In its filing with the Commission, the
                                                  [FR Doc. 2017–05501 Filed 3–20–17; 8:45 am]
                                                                                                           Exchange included statements                          Public Customer PIP Orders and COPIP
                                                  BILLING CODE 8011–01–P                                                                                         Orders of 100 and under contracts that
                                                                                                           concerning the purpose of and basis for
                                                                                                                                                                 do not trade solely with their contra
                                                                                                           the proposed rule change and discussed
                                                                                                                                                                 order. Percentage thresholds are
                                                                                                           any comments it received on the
                                                  SECURITIES AND EXCHANGE                                                                                        calculated on a monthly basis by
                                                                                                           proposed rule change. The text of these               totaling the Participant’s PIP and COPIP
                                                  COMMISSION
                                                                                                           statements may be examined at the                     volume submitted to BOX, relative to
                                                                                                           places specified in Item IV below. The                the total national Customer volume in
                                                  [Release No. 34–80246; File No. SR–BOX–                  Exchange has prepared summaries, set
                                                  2017–09]                                                                                                       multiply-listed options classes. The
                                                                                                           forth in Sections A, B, and C below, of               Exchange proposes to adjust the
                                                  Self-Regulatory Organizations; BOX                       the most significant aspects of such                  percentage thresholds in Tiers 3 and 4.
                                                  Options Exchange LLC; Notice of                          statements.                                           Specifically, the Exchange proposes to
                                                  Filing and Immediate Effectiveness of                    A. Self-Regulatory Organization’s                     change Tier 3 from ‘‘0.340% to 0.799%’’
                                                  a Proposed Rule Change To Amend                          Statement of the Purpose of, and                      to ‘‘0.340% to 0.499%’’ and Tier 4 from
                                                  the Fee Schedule on the BOX Market                       Statutory Basis for, the Proposed Rule                ‘‘0.800% and Above’’ to ‘‘0.500% and
                                                  LLC (‘‘BOX’’) Options Facility                           Change                                                Above.’’ The Exchange notes that is it
                                                                                                                                                                 not proposing any changes to the fees
                                                  March 15, 2017.                                          1. Purpose                                            within the BVR. The quantity submitted
                                                                                                                                                                 will continue to be calculated on a
                                                     Pursuant to Section 19(b)(1) of the                     The Exchange proposes to amend the                  monthly basis by totaling the
                                                  Securities Exchange Act of 1934 (the                     Fee Schedule for trading on BOX.                      Participant’s PIP and COPIP volume
                                                  ‘‘Act’’),1 and Rule 19b–4 thereunder,2                   Specifically, the Exchange proposes to                submitted to BOX, relative to the total
                                                  notice is hereby given that on March 7,                  revise certain qualification thresholds in            national Customer volume in multiply-
                                                  2017, BOX Options Exchange LLC (the                      Sections I.B.1 of the BOX Fee Schedule,               listed options classes.
                                                  ‘‘Exchange’’) filed with the Securities                  Primary Improvement Order and I.B.2 of
                                                  and Exchange Commission                                  the BOX Fee Schedule, the BOX Volume                  2. Statutory Basis
                                                  (‘‘Commission’’) the proposed rule                       Rebate (‘‘BVR’’).                                        The Exchange believes that the
                                                  change as described in Items I, II, and                                                                        proposal is consistent with the
                                                  III below, which Items have been                         Primary Improvement Order                             requirements of Section 6(b) of the Act,
                                                  prepared by the Exchange. The                               Under the tiered fee schedule for                  in general, and Section 6(b)(4) and
                                                  Exchange filed the proposed rule change                  Primary Improvement Orders, the                       6(b)(5)of the Act,5 in particular, in that
                                                  pursuant to Section 19(b)(3)(A)(ii) of the               Exchange assesses a per contract                      it provides for the equitable allocation
                                                  Act,3 and Rule 19b–4(f)(2) thereunder,4                  execution fee to all Primary                          of reasonable dues, fees, and other
                                                  which renders the proposal effective                     Improvement Order executions where                    charges among BOX Participants and
                                                  upon filing with the Commission. The                     the corresponding PIP or COPIP Order                  other persons using its facilities and
                                                  Commission is publishing this notice to                  is from the account of a Public                       does not unfairly discriminate between
                                                  solicit comments on the proposed rule                    Customer. Percentage thresholds are                   customers, issuers, brokers or dealers.
                                                  change from interested persons.                          calculated on a monthly basis by                         BOX believes it is reasonable,
                                                                                                           totaling the Initiating Participant’s                 equitable and not unfairly
                                                  I. Self-Regulatory Organization’s                                                                              discriminatory to adjust the monthly
                                                  Statement of the Terms of the Substance                  Primary Improvement Order volume
                                                                                                                                                                 Percentage Thresholds of National
                                                                                                           submitted to BOX, relative to the total
                                                  of the Proposed Rule Change                                                                                    Customer Volume in Multiply-Listed
                                                                                                           national Customer volume in multiply-
                                                                                                                                                                 Options Classes. The volume thresholds
                                                     The Exchange is filing with the                       listed options classes. The Exchange
                                                                                                                                                                 with their tiered fees and rebates are
                                                  Securities and Exchange Commission                       proposes to delete current Tier 4 in its
                                                                                                                                                                 meant to incentivize Participants to
                                                  (‘‘Commission’’) a proposed rule change                  entirety and renumber the tiers                       direct order flow to the Exchange to
                                                  to amend the Fee Schedule on the BOX                     accordingly. The Exchange also                        obtain the benefit of the lower fee or
                                                  Market LLC (‘‘BOX’’) options facility.                   proposes to adjust the percentage                     higher rebate, which in turn benefits all
                                                  While changes to the fee schedule                        threshold in proposed Tier 4.                         market participants by increasing
                                                  pursuant to this proposal will be                        Specifically, the Exchange proposes to                liquidity on the Exchange.
                                                  effective upon filing, the changes will                  change proposed Tier 4 from ‘‘0.800%                     The Exchange believes the proposed
                                                  become operative on March 8, 2017. The                   and Above’’ to ‘‘0.500% and Above.’’                  amendments to the Primary
                                                  text of the proposed rule change is                      The Exchange notes that it is not                     Improvement Order percentage
                                                  available from the principal office of the               proposing any changes to the fees                     thresholds are reasonable, equitable and
                                                  Exchange, at the Commission’s Public                     within the Primary Improvement Order                  not unfairly discriminatory. The
                                                                                                           fee structure and the quantity submitted
mstockstill on DSK3G9T082PROD with NOTICES




                                                  Reference Room and also on the                                                                                 proposed changes to the thresholds are
                                                  Exchange’s Internet Web site at http://                  will continue to be calculated on a                   equitable and not unfairly
                                                  boxexchange.com.                                         monthly basis by totaling the Initiating              discriminatory as they are available to
                                                                                                           Participant’s Primary Improvement                     all BOX Participants that initiate
                                                    1 15 U.S.C. 78s(b)(1).
                                                                                                           Order volume submitted to BOX,                        Auction Transactions, and Participants
                                                    2 17 CFR 240.19b–4.                                    relative to the total national Customer               may choose whether or not to take
                                                    3 15 U.S.C. 78s(b)(3)(A)(ii).                          volume in multiply-listed options
                                                    4 17 CFR 240.19b–4(f)(2).                              classes.                                                5 15   U.S.C. 78f(b)(4) and (5).



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                                                  14556                         Federal Register / Vol. 82, No. 53 / Tuesday, March 21, 2017 / Notices

                                                  advantage of the percentage thresholds                  III. Date of Effectiveness of the                        printing in the Commission’s Public
                                                  and their applicable discounted fees.                   Proposed Rule Change and Timing for                      Reference Room, 100 F Street NE.,
                                                  Further, the Exchange believes that the                 Commission Action                                        Washington, DC 20549 on official
                                                  proposed changes are reasonable and                        The foregoing rule change has become                  business days between the hours of
                                                  competitive as they will further                        effective pursuant to Section                            10:00 a.m. and 3:00 p.m. Copies of such
                                                  incentivize Participants to direct order                19(b)(3)(A)(ii) of the Exchange Act 7 and                filing also will be available for
                                                  flow to the Exchange, benefiting all                    Rule 19b–4(f)(2) thereunder,8 because it                 inspection and copying at the principal
                                                  market participants.                                    establishes or changes a due, or fee.                    office of the Exchange. All comments
                                                     The Exchange also believes the                          At any time within 60 days of the                     received will be posted without change;
                                                  proposed amendments to the BVR in                       filing of the proposed rule change, the                  the Commission does not edit personal
                                                  Section I.B.2 of the BOX Fee Schedule                   Commission summarily may                                 identifying information from
                                                  are reasonable, equitable and not                       temporarily suspend the rule change if                   submissions. You should submit only
                                                  unfairly discriminatory. The BVR was                    it appears to the Commission that the                    information that you wish to make
                                                  adopted to attract Public Customer order                action is necessary or appropriate in the                available publicly. All submissions
                                                  flow to the Exchange by offering these                  public interest, for the protection of                   should refer to File Number SR–BOX–
                                                  Participants incentives to submit their                 investors, or would otherwise further                    2017–09, and should be submitted on or
                                                  Public Customer PIP and COPIP Orders                    the purposes of the Act. If the                          before April 11, 2017.
                                                  to the Exchange and the Exchange                        Commission takes such action, the                          For the Commission, by the Division of
                                                  believes it is appropriate to now amend                 Commission shall institute proceedings                   Trading and Markets, pursuant to delegated
                                                  the BVR. The Exchange believes it is                    to determine whether the proposed rule                   authority.9
                                                  equitable and not unfairly                              should be approved or disapproved.                       Eduardo A. Aleman,
                                                  discriminatory to amend the BVR, as all
                                                                                                          IV. Solicitation of Comments                             Assistant Secretary.
                                                  Participants have the ability to qualify
                                                  for a rebate, and rebates are provided                                                                           [FR Doc. 2017–05496 Filed 3–20–17; 8:45 am]
                                                                                                            Interested persons are invited to
                                                  equally to qualifying Participants. Other               submit written data, views, and                          BILLING CODE 8011–01–P
                                                  exchanges employ similar incentive                      arguments concerning the foregoing,
                                                  programs; 6 and the Exchange believes                   including whether the proposed rule
                                                  that the proposed changes to the volume                                                                          SECURITIES AND EXCHANGE
                                                                                                          change is consistent with the Act.
                                                  thresholds are reasonable and                                                                                    COMMISSION
                                                                                                          Comments may be submitted by any of
                                                  competitive when compared to                            the following methods:                                   [Release No. 34–80259; File No. 4–707]
                                                  incentive structures at other exchanges.
                                                  Finally, the Exchange believes it is                    Electronic Comments                                      Self-Regulatory Organizations; ISE
                                                  reasonable and appropriate to continue                    • Use the Commission’s Internet                        Mercury, LLC; Notice of Filing of
                                                  to provide incentives for Public                        comment form (http://www.sec.gov/                        Proposed Minor Rule Violation Plan
                                                  Customers, which will result in greater                 rules/sro.shtml); or
                                                  liquidity and ultimately benefit all                      • Send an email to rule-comments@                      March 16, 2017.
                                                  Participants trading on the Exchange.                   sec.gov. Please include File Number SR–                     Pursuant to Section 19(d)(1) of the
                                                                                                          BOX–2017–09 on the subject line.                         Securities Exchange Act of 1934
                                                  B. Self-Regulatory Organization’s                                                                                (‘‘Act’’) 1 and Rule 19d–1(c)(2)
                                                  Statement on Burden on Competition                      Paper Comments                                           thereunder,2 notice is hereby given that
                                                    The Exchange does not believe that                      • Send paper comments in triplicate                    on March 9, 2017, ISE Mercury, LLC
                                                  the proposed rule change will impose                    to Secretary, Securities and Exchange                    (‘‘Exchange’’) filed with the Securities
                                                  any burden on competition not                           Commission, 100 F Street NE.,                            and Exchange Commission
                                                  necessary or appropriate in furtherance                 Washington, DC 20549–1090.                               (‘‘Commission’’) a proposed minor rule
                                                  of the purposes of the Act. The                         All submissions should refer to File                     violation plan (‘‘MRVP’’) with sanctions
                                                  Exchange is simply proposing to amend                   Number SR–BOX–2017–09. This file                         not exceeding $2,500 which would not
                                                  certain percentage thresholds for                       number should be included on the                         be subject to the provisions of Rule 19d–
                                                  Auction Transaction fees and rebates in                 subject line if email is used. To help the               1(c)(1) of the Act 3 requiring that a self-
                                                  the BOX Fee Schedule. The Exchange                      Commission process and review your                       regulatory organization (‘‘SRO’’)
                                                  believes that the volume based rebates                  comments more efficiently, please use                    promptly file notice with the
                                                  and fees increase intermarket and                       only one method. The Commission will                     Commission of any final disciplinary
                                                  intramarket competition by incenting                    post all comments on the Commission’s                    action taken with respect to any person
                                                  Participants to direct their order flow to              Internet Web site (http://www.sec.gov/                   or organization.4 In accordance with
                                                  the exchange, which benefits all                        rules/sro.shtml). Copies of the
                                                  participants by providing more trading                  submission, all subsequent                                 9 17  CFR 200.30–3(a)(12).
                                                                                                                                                                     1 15  U.S.C. 78s(d)(1).
                                                  opportunities and improves competition                  amendments, all written statements
                                                                                                                                                                      2 17 CFR 240.19d–1(c)(2).
                                                  on the Exchange.                                        with respect to the proposed rule                           3 17 CFR 240.19d–1(c)(1).

                                                  C. Self-Regulatory Organization’s                       change that are filed with the                              4 The Commission adopted amendments to

                                                  Statement on Comments on the                            Commission, and all written                              paragraph (c) of Rule 19d–1 to allow SROs to
                                                  Proposed Rule Change Received From                      communications relating to the                           submit for Commission approval plans for the
                                                                                                          proposed rule change between the                         abbreviated reporting of minor disciplinary
                                                  Members, Participants, or Others                                                                                 infractions. See Securities Exchange Act Release
mstockstill on DSK3G9T082PROD with NOTICES




                                                                                                          Commission and any person, other than                    No. 21013 (June 1, 1984), 49 FR 23828 (June 8,
                                                    No written comments were either                       those that may be withheld from the                      1984). Any disciplinary action taken by an SRO
                                                  solicited or received.                                  public in accordance with the                            against any person for violation of a rule of the SRO
                                                                                                          provisions of 5 U.S.C. 552, will be                      which has been designated as a minor rule violation
                                                    6 See Section B of the PHLX Pricing Schedule                                                                   pursuant to such a plan filed with and declared
                                                  entitled ‘‘Customer Rebate Program;’’ ISE Gemini’s
                                                                                                          available for Web site viewing and                       effective by the Commission shall not be considered
                                                  Qualifying Tier Thresholds (page 6 of the ISE                                                                    ‘‘final’’ for purposes of Section 19(d)(1) of the Act
                                                                                                            7 15   U.S.C. 78s(b)(3)(A)(ii).
                                                  Gemini Fee Schedule); and CBOE’s Volume                                                                          if the sanction imposed consists of a fine not
                                                  Incentive Program (VIP).                                  8 17   CFR 240.19b–4(f)(2).                            exceeding $2,500 and the sanctioned person has not



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Document Created: 2017-03-21 01:09:22
Document Modified: 2017-03-21 01:09:22
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 Citation82 FR 14555 

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