82 FR 1767 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE MKT Equities Price List and the NYSE Amex Options Fee Schedule To Modify the Fees Related to Four Bundles of Co-Location Services in Connection With the Exchange's Co-Location Services
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 4 (January 6, 2017)
Federal Register Volume 82, Issue 4 (January 6, 2017)
| Page Range | 1767-1770 | |
| FR Document | 2016-32040 |
[Federal Register Volume 82, Number 4 (Friday, January 6, 2017)] [Notices] [Pages 1767-1770] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-32040] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79717; File No. SR-NYSEMKT-2016-123] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE MKT Equities Price List and the NYSE Amex Options Fee Schedule To Modify the Fees Related to Four Bundles of Co-Location Services in Connection With the Exchange's Co-Location Services December 30, 2016. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on December 19, 2016, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. 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\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE MKT Equities Price List (``Price List'') and the NYSE Amex Options Fee Schedule (``Fee Schedule'') to modify the fees related to four bundles of co-location services (``Partial Cabinet Solution bundles'') in connection with the Exchange's co-location services. The Exchange proposes to implement the fee changes effective January 1, 2017. The proposed change is available on the Exchange's Web site at www.nyse.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 self-regulatory organization 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 those 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 The Exchange proposes to amend the Exchange's Price List and Fee Schedule to modify the fees related to Partial Cabinet Solution bundles in connection with the Exchange's co-location services.\4\ Currently, the Exchange offers Users \5\ that purchase a Partial Cabinet Solution bundle on or before December 31, 2016 a 50% reduction in the monthly recurring charges (``MRC'') for the first 12 months.\6\ The Exchange now proposes to extend that 50% reduction until December 31, 2017. The Exchange proposes to implement the fee changes effective January 1, 2017. --------------------------------------------------------------------------- \4\ The Exchange initially filed rule changes relating to its co-location services with the Securities and Exchange Commission (``Commission'') in 2010. See Securities Exchange Act Release No. 62961 (September 21, 2010), 75 FR 59299 (September 27, 2010) (SR- NYSEAmex-2010-80) (the ``Original Co-location Filing''). The Exchange operates a data center in Mahwah, New Jersey (the ``data center'') from which it provides co-location services to Users. \5\ For purposes of the Exchange's co-location services, a ``User'' means any market participant that requests to receive co- location services directly from the Exchange. See Securities Exchange Act Release No. 76009 (September 29, 2015), 80 FR 60213 (October 5, 2015) (SR-NYSEMKT-2015-67). As specified in the Price List and Fee Schedule, a User that incurs co-location fees for a particular co-location service pursuant thereto would not be subject to co-location fees for the same co-location service charged by the Exchange's affiliates New York Stock Exchange LLC (``NYSE LLC'') and NYSE Arca, Inc. (``NYSE Arca'' and, together with NYSE LLC, the ``Affiliate SROs''). See Securities Exchange Act Release No. 70176 (August 13, 2013), 78 FR 50471 (August 19, 2013) (SR-NYSEMKT-2013- 67). \6\ See Securities Exchange Act Release No. 77071 (Feb. 5, 2016), 81 FR 7382 (Feb. 11, 2016) (SR-NYSEMKT-2015-89). --------------------------------------------------------------------------- The Exchange offers the four Partial Cabinet Solution bundles in order to attract smaller Users, including those with minimal power or cabinet space demands or those for which the costs attendant with having a dedicated [[Page 1768]] cabinet or greater network connection bandwidth are too burdensome.\7\ Under the proposed change, such smaller Users will be able to avail themselves of the reduction until December 31, 2017. Specifically, the Exchange proposes to modify its Price List and Fee Schedule so that they read as follows: --------------------------------------------------------------------------- \7\ See id at 7384. ------------------------------------------------------------------------ Type of service Description Amount of charge ------------------------------------------------------------------------ Partial Cabinet Solution Option A: 1 kW $7,500 initial charge bundles. partial cabinet, per bundle plus Note: A User and its 1 LCN connection monthly charge per Affiliates are limited to one (1 Gb), 1 IP bundle as follows: Partial Cabinet Solution networkFor Users bundle at a time. A User and connection (1 that order on or its Affiliates must have an Gb), 2 fiber before December 31, Aggregate Cabinet Footprint cross 2017: $3,000 monthly of 2 kW or less to qualify connections and for first 12 months for a Partial Cabinet either the of service, and Solution bundle. See Note 2 Network Time $6,000 monthly under ``General Notes''. Protocol Feed or thereafter. Precision Timing For Users Protocol. that order after Option B: 2 kW December 31, 2017: partial cabinet, $6,000 monthly. 1 LCN connection $7,500 initial charge (1 Gb), 1 IP per bundle plus network monthly charge per connection (1 bundle as follows: Gb), 2 fiber For Users cross that order on or connections and before December 31, either the 2017: $3,500 monthly Network Time for first 12 months Protocol Feed or of service, and Precision Timing $7,000 monthly Protocol. thereafter. For Users that order after December 31, 2017: $7,000 monthly. Option C: 1 kW $10,000 initial partial cabinet, charge per bundle 1 LCN connection plus monthly charge (10 Gb), 1 IP per bundle as network follows: connection (10 For Users Gb), 2 fiber that order on or cross before December 31, connections and 2017: $7,000 monthly either the for first 12 months Network Time of service, and Protocol Feed or $14,000 monthly Precision Timing thereafter. Protocol. For Users that order after December 31, 2017: $14,000 monthly. Option D: 2 kW $10,000 initial partial cabinet, charge per bundle 1 LCN connection plus monthly charge (10 Gb), 1 IP per bundle as network follows: connection (10 For Users Gb), 2 fiber that order on or cross before December 31, connections and 2017: $7,500 monthly either the for first 12 months Network Time of service, and Protocol Feed or $15,000 monthly Precision Timing thereafter. Protocol. For Users that order after December 31, 2017: $15,000 monthly. ------------------------------------------------------------------------ The Exchange is not proposing any other changes to the Partial Cabinet Solution bundles other than this proposed extension of the 50% reduction in the MRC. Users that purchase a Partial Cabinet Solution bundle would still be subject to a 90-day minimum commitment, after which period they are subject to a 60-day rolling time period.\8\ --------------------------------------------------------------------------- \8\ See id. --------------------------------------------------------------------------- As is the case with all Exchange co-location arrangements, (i) neither a User nor any of the User's customers would be permitted to submit orders directly to the Exchange unless such User or customer is a member organization, a Sponsored Participant or an agent thereof (e.g., a service bureau providing order entry services); (ii) use of the co-location services proposed herein would be completely voluntary and available to all Users on a non-discriminatory basis; \9\ and (iii) a User would only incur one charge for the particular co-location service described herein, regardless of whether the User connects only to the Exchange or to the Exchange and one or both of its affiliates.\10\ --------------------------------------------------------------------------- \9\ As is currently the case, Users that receive co-location services from the Exchange will not receive any means of access to the Exchange's trading and execution systems that is separate from, or superior to, that of other Users. In this regard, all orders sent to the Exchange enter the Exchange's trading and execution systems through the same order gateway, regardless of whether the sender is co-located in the data center or not. In addition, co-located Users do not receive any market data or data service product that is not available to all Users, although Users that receive co-location services normally would expect reduced latencies in sending orders to, and receiving market data from, the Exchange. \10\ See SR-NYSEMKT-2013-67, supra note 5, at 50471. The Exchange's affiliates have also submitted substantially the same proposed rule change to propose the changes described herein. See SR-NYSE-2016-91 and SR-NYSEArca-2016-168. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\11\ in general, and furthers the objectives of Sections 6(b)(5) of the Act,\12\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b). \12\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule changes provide for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities, and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers, because the Exchange proposes to offer the 50% reduction in the MRC to all Users equally. As is currently the case, the purchase of any colocation service (including Partial Cabinet Solution bundles) is completely voluntary. All Users that order a bundle on or before December 31, 2017 would have their MRC reduced by 50% for the first 12 months. The Exchange believes that extending the 50% reduction in the MRC for Partial Cabinet Solution bundles is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers because the Partial Cabinet Solution bundles would continue to offer four different Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections. Users that require [[Page 1769]] other sizes or combinations of cabinets, network connections and cross connects could still request them. In addition, the Exchange believes that its proposal would remove impediments to, and perfects the mechanisms of, a free and open market and a national market system and, in general, protects investors and the public interest because the proposed extension of the 50% reduction in MRC would continue to make it more cost effective for Users to utilize co-location by creating a convenient way to create a colocation environment, through four Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections. The Exchange expects that such Users would include those with minimal power or cabinet space demands and Users for which the costs attendant with having a dedicated cabinet or greater network connection bandwidth are too burdensome. The Exchange also believes that the proposed rule change is consistent with Section 6(b)(4) of the Act,\13\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \13\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that it is reasonable that Users that order a Partial Cabinet Solution bundle on or before December 31, 2017 would have their MRC reduced by 50% for the first 12 months because it is reasonable to continue to offer such reduction as an incentive to Users to utilize the service. As noted above, the Exchange anticipates that Users of the Partial Cabinet Solution bundles would include those with minimum power or cabinet space demands and Users for which the costs attendant with having a dedicated cabinet or greater network connection bandwidth are too burdensome. The Exchange believes that it is reasonable to continue to have a reduced minimum commitment period for the Partial Cabinet Solution bundle to further reduce the cost commitment for such Users as a continued incentive to Users to utilize the new service. For the reasons above, the proposed changes do not unfairly discriminate between or among market participants that are otherwise capable of satisfying any applicable co-location fees, requirements, terms and conditions established from time to time by the Exchange. Finally, the Exchange believes that it is subject to significant competitive forces, as described below in the Exchange's statement regarding the burden on competition. For these reasons, the Exchange believes that the proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\14\ 26 the Exchange believes that the proposed rule change will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because, in addition to the proposed services being completely voluntary, they are available to all Users on an equal basis (i.e. the same products and services are available to all Users, and the extension of the 50% reduction for the MRC for the Partial Cabinet Solution bundles would apply to all Users). --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange believes that extending the 50% reduction in the MRC will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because such access will continue to satisfy User demand for cost effective options for smaller Users that choose to utilize co-location. All Users that order a bundle on or before December 31, 2017 would have their MRC reduced by 50% for the first 12 months. Providing entities with the additional option of the Partial Cabinet Solution bundle will allow them to select the relationship and type of service that better corresponds to their needs and resources. The proposed changes will also enhance competition by making it more cost effective for Users that purchase a Partial Cabinet Solution bundle to utilize co-location by creating a convenient way to create a colocation environment, through Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections at a reduced MRC for the first 12 months. Such Users may choose to pass on such cost savings to their customers. The Exchange operates in a highly competitive market in which exchanges offer co-location services as a means to facilitate the trading and other market activities of those market participants who believe that co-location enhances the efficiency of their operations. Accordingly, fees charged for co-location services are constrained by the active competition for the order flow of, and other business from, such market participants. If a particular exchange charges excessive fees for co-location services, affected market participants will opt to terminate their co-location arrangements with that exchange, and adopt a possible range of alternative strategies, including placing their servers in a physically proximate location outside the exchange's data center (which could be a competing exchange), or pursuing strategies less dependent upon the lower exchange-to-participant latency associated with co-location. Accordingly, the exchange charging excessive fees would stand to lose not only co-location revenues but also the liquidity of the formerly co-located trading firms, which could have additional follow-on effects on the market share and revenue of the affected exchange. In such an environment, the Exchange must continually review, and consider adjusting, its services and related fees and credits to remain competitive with other exchanges. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) \15\ of the Act and subparagraph (f)(2) of Rule 19b-4 \16\ thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78s(b)(3)(A). \16\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- At any time within 60 days of the filing of such 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 under Section 19(b)(2)(B) \17\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \17\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- 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. [[Page 1770]] 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 No. SR-NYSEMKT-2016-123 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-NYSEMKT-2016-123. 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 No. SR-NYSEMKT-2016-123, and should be submitted on or before January 27, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\18\ Eduardo A. Aleman, Assistant Secretary. --------------------------------------------------------------------------- \18\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- [FR Doc. 2016-32040 Filed 1-5-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 4 / Friday, January 6, 2017 / Notices 1767
the Regulation NMS Plan to Address For the Commission, by the Division of II. Self-Regulatory Organization’s
Extraordinary Market Volatility.12 Trading and Markets, pursuant to delegated Statement of the Purpose of, and
Moreover, according to the Exchange, authority.20 Statutory Basis for, the Proposed Rule
the proposal would permit it to widen Eduardo A. Aleman, Change
Auction Collars under the ‘‘fair and Assistant Secretary. In its filing with the Commission, the
orderly’’ provision when the E-Mini [FR Doc. 2016–32037 Filed 1–5–17; 8:45 am] self-regulatory organization included
S&P 500 Futures are not +/-2% from the
BILLING CODE 8011–01–P statements concerning the purpose of,
prior day’s closing price as of 9:00 a.m.
and basis for, the proposed rule change
Eastern Time, but widening the Auction
and discussed any comments it received
Collars would otherwise be warranted.13
SECURITIES AND EXCHANGE on the proposed rule change. The text
The Exchange also states that the ‘‘fair
COMMISSION of those statements may be examined at
and orderly’’ provision would be
invoked for unusual circumstances.14 the places specified in Item IV below.
According to the Exchange, using 2016 [Release No. 34–79717; File No. SR– The Exchange has prepared summaries,
as an example, if the proposed rule had NYSEMKT–2016–123] set forth in sections A, B, and C below,
been in place, the Exchange would have of the most significant parts of such
widened Auction Collars on only two Self-Regulatory Organizations; NYSE statements.
days (i.e., June 24, 2016, the day after MKT LLC; Notice of Filing and A. Self-Regulatory Organization’s
the ‘‘Brexit’’ vote, and November 9, Immediate Effectiveness of Proposed Statement of the Purpose of, and
2016, the day after the U.S. Presidential Rule Change To Amend the NYSE MKT Statutory Basis for, the Proposed Rule
election).15 Of these two days, the Equities Price List and the NYSE Amex Change
Exchange would have invoked the ‘‘fair Options Fee Schedule To Modify the
and orderly’’ provision only for Fees Related to Four Bundles of Co- 1. Purpose
November 9 because, by 9:00 a.m., the Location Services in Connection With The Exchange proposes to amend the
futures markets had returned to within the Exchange’s Co-Location Services Exchange’s Price List and Fee Schedule
2% of the prior day’s closing price.16 to modify the fees related to Partial
However, because of the overall volume December 30, 2016. Cabinet Solution bundles in connection
of trading and uncertainty in the market Pursuant to Section 19(b)(1) 1 of the with the Exchange’s co-location
that day, the Exchange believed it was Securities Exchange Act of 1934 (the services.4 Currently, the Exchange offers
appropriate to widen the Auction ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 Users 5 that purchase a Partial Cabinet
Collars.17 notice is hereby given that, on December Solution bundle on or before December
Based on the Exchange’s 31, 2016 a 50% reduction in the
19, 2016, NYSE MKT LLC (the
representations, the Commission monthly recurring charges (‘‘MRC’’) for
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
believes that the proposed rule change, the first 12 months.6 The Exchange now
as modified by Amendment No. 1, the Securities and Exchange
proposes to extend that 50% reduction
would help to promote orderly and Commission (the ‘‘Commission’’) the until December 31, 2017. The Exchange
efficient Core Open Auctions on volatile proposed rule change as described in proposes to implement the fee changes
days and would provide transparency Items I, II, and III below, which Items effective January 1, 2017.
on such days regarding the Core Open have been prepared by the self- The Exchange offers the four Partial
Auction parameters. Based on the regulatory organization. The Cabinet Solution bundles in order to
foregoing, the Commission finds that the Commission is publishing this notice to attract smaller Users, including those
proposed rule change, as modified by solicit comments on the proposed rule with minimal power or cabinet space
Amendment No. 1, is consistent with change from interested persons. demands or those for which the costs
Section 6(b)(5) of the Act 18 and the attendant with having a dedicated
I. Self-Regulatory Organization’s
rules and regulations thereunder
Statement of the Terms of the Substance
applicable to a national securities 4 The Exchange initially filed rule changes
of the Proposed Rule Change relating to its co-location services with the
exchange.
Securities and Exchange Commission
IV. Conclusion The Exchange proposes to amend the (‘‘Commission’’) in 2010. See Securities Exchange
NYSE MKT Equities Price List (‘‘Price Act Release No. 62961 (September 21, 2010), 75 FR
It Is Therefore Ordered, pursuant to 59299 (September 27, 2010) (SR–NYSEAmex–2010–
List’’) and the NYSE Amex Options Fee
Section 19(b)(2) of the Act,19 that the 80) (the ‘‘Original Co-location Filing’’). The
proposed rule change (SR–NYSEArca– Schedule (‘‘Fee Schedule’’) to modify Exchange operates a data center in Mahwah, New
2016–136), as modified by Amendment the fees related to four bundles of co- Jersey (the ‘‘data center’’) from which it provides
location services (‘‘Partial Cabinet co-location services to Users.
No. 1, be, and hereby is, approved. 5 For purposes of the Exchange’s co-location
Solution bundles’’) in connection with services, a ‘‘User’’ means any market participant
12 See id. at 71128. the Exchange’s co-location services. The that requests to receive co-location services directly
13 See Amendment No. 1, supra note 5. Exchange proposes to implement the fee from the Exchange. See Securities Exchange Act
Release No. 76009 (September 29, 2015), 80 FR
14 See id.
changes effective January 1, 2017. The 60213 (October 5, 2015) (SR–NYSEMKT–2015–67).
15 See id. The Exchange filed proposed rule
proposed change is available on the As specified in the Price List and Fee Schedule, a
changes to temporarily widen Auction Collars for
the Core Open Auction on these two days. See Exchange’s Web site at www.nyse.com, User that incurs co-location fees for a particular co-
at the principal office of the Exchange, location service pursuant thereto would not be
Securities Exchange Act Release Nos. 78152 (June
subject to co-location fees for the same co-location
sradovich on DSK3GMQ082PROD with NOTICES
24, 2016), 81 FR 42781 (June 30, 2016) (SR– and at the Commission’s Public service charged by the Exchange’s affiliates New
NYSEArca–2016–90) and 79275 (November 9,
2016), 81 FR 80703 (November 16, 2016) (SR–
Reference Room. York Stock Exchange LLC (‘‘NYSE LLC’’) and NYSE
Arca, Inc. (‘‘NYSE Arca’’ and, together with NYSE
NYSEArca–2016–146).
16 See Amendment No. 1, supra note 5.
LLC, the ‘‘Affiliate SROs’’). See Securities Exchange
Act Release No. 70176 (August 13, 2013), 78 FR
17 See id.
50471 (August 19, 2013) (SR–NYSEMKT–2013–67).
18 15 U.S.C. 78f(b)(5). 1 15 U.S.C. 78s(b)(1). 6 See Securities Exchange Act Release No. 77071
19 15 U.S.C. 78s(b)(2). 2 15 U.S.C. 78a. (Feb. 5, 2016), 81 FR 7382 (Feb. 11, 2016) (SR–
20 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. NYSEMKT–2015–89).
VerDate Sep<11>2014 18:06 Jan 05, 2017 Jkt 241001 PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 E:\FR\FM\06JAN1.SGM 06JAN1](https://thefederalregister.org/doc/82_FR_1771/page/1.svg)
![1770 Federal Register / Vol. 82, No. 4 / Friday, January 6, 2017 / Notices
Comments may be submitted by any of SECURITIES AND EXCHANGE Applicant’s Address: 44 River Road,
the following methods: COMMISSION Suite A, Wayland, Massachusetts 01778.
Electronic Comments AllianceBernstein Income Fund, Inc.
[Release No. IC–32407] [File No. 811–05207]
• Use the Commission’s Internet
Notice of Applications For Summary: Applicant, a closed-end
comment form (http://www.sec.gov/ investment company, seeks an order
rules/sro.shtml); or Deregistration Under Section 8(f) of the
Investment Company Act of 1940 declaring that it has ceased to be an
• Send an email to rule-comments@ investment company. Applicant has
sec.gov. Please include File No. SR– December 30, 2016. transferred its assets to AB Income
NYSEMKT–2016–123 on the subject The following is a notice of Fund, a series of AB Bond Fund, Inc.,
line. applications for deregistration under and, on April 22, 2016, made a final
section 8(f) of the Investment Company distribution to its shareholders based on
Paper Comments net asset value. Expenses of $723,279
Act of 1940 for the month of December
• Send paper comments in triplicate 2016. A copy of each application may be incurred in connection with the
to Secretary, Securities and Exchange obtained via the Commission’s Web site reorganization were paid by applicant
Commission, 100 F Street NE., by searching for the file number, or for and applicant’s investment adviser.
an applicant using the Company name Filing Date: The application was filed
Washington, DC 20549–1090.
box, at http://www.sec.gov/search/ on November 18, 2016.
All submissions should refer to File No. search.htm or by calling (202) 551– Applicant’s Address: 1345 Avenue of
SR–NYSEMKT–2016–123. This file 8090. An order granting each the Americas, New York, NY 10105.
number should be included on the application will be issued unless the Destra Investment Trust II [File No.
subject line if email is used. To help the SEC orders a hearing. Interested persons 811–22523]
Commission process and review your may request a hearing on any
comments more efficiently, please use Summary: Applicant seeks an order
application by writing to the SEC’s declaring that it has ceased to be an
only one method. The Commission will Secretary at the address below and investment company. Applicant has
post all comments on the Commission’s serving the relevant applicant with a transferred its assets to Destra
Internet Web site (http://www.sec.gov/ copy of the request, personally or by Investment Trust, and, on September 30,
rules/sro.shtml). Copies of the mail. Hearing requests should be 2016, made a final distribution to its
submission, all subsequent received by the SEC by 5:30 p.m. on shareholders based on net asset value.
amendments, all written statements January 24, 2017, and should be Expenses of $32,000 incurred in
with respect to the proposed rule accompanied by proof of service on connection with the reorganization were
change that are filed with the applicants, in the form of an affidavit or, paid by applicant’s investment adviser.
Commission, and all written for lawyers, a certificate of service. Filing Date: The application was filed
communications relating to the Pursuant to Rule 0–5 under the Act, on November 22, 2016.
proposed rule change between the hearing requests should state the nature Applicant’s Address: One North
Commission and any person, other than of the writer’s interest, any facts bearing Wacker Drive, 48th Floor, Chicago, IL
those that may be withheld from the upon the desirability of a hearing on the 60606.
public in accordance with the matter, the reason for the request, and
the issues contested. Persons who wish Realty Capital Income Funds Trust
provisions of 5 U.S.C. 552, will be
to be notified of a hearing may request [File No. 811–22785]
available for Web site viewing and
printing in the Commission’s Public notification by writing to the Summary: Applicant seeks an order
Reference Room, 100 F Street NE., Commission’s Secretary. declaring that it has ceased to be an
Washington, DC 20549 on official ADDRESS: The Commission: Secretary, investment company. Applicant has
business days between the hours of U.S. Securities and Exchange transferred its assets to SCM Trust, and,
10:00 a.m. and 3:00 p.m. Copies of such Commission, 100 F Street NE., on November 7, 2016, made a final
filing also will be available for Washington, DC 20549–1090. distribution to its shareholders based on
inspection and copying at the principal net asset value. Expenses of $82,000
FOR FURTHER INFORMATION CONTACT:
office of the Exchange. All comments incurred in connection with the
Hae-Sung Lee, Attorney-Adviser, at reorganization were paid by applicant’s
received will be posted without change; (202) 551–7345 or Chief Counsel’s
the Commission does not edit personal investment adviser.
Office at (202) 551–6821; SEC, Division Filing Date: The application was filed
identifying information from of Investment Management, Chief on November 22, 2016.
submissions. You should submit only Counsel’s Office, 100 F Street NE., Applicant’s Address: 405 Park
information that you wish to make Washington, DC 20549–8010. Avenue, 14th Floor, New York, NY
available publicly. All submissions 10022.
should refer to File No. SR–NYSEMKT– Davlin Philanthropic Funds [File No.
2016–123, and should be submitted on 811–22178] AIP Series Trust [File No. 811–22789]
or before January 27, 2017. Summary: Applicant seeks an order Summary: Applicant seeks an order
For the Commission, by the Division of declaring that it has ceased to be an declaring that it has ceased to be an
Trading and Markets, pursuant to delegated investment company. On September 30, investment company. On May 25, 2016,
2016, applicant made a liquidating
sradovich on DSK3GMQ082PROD with NOTICES
authority.18 applicant made a liquidating
distribution to its shareholders, based distribution to its shareholders, based
Eduardo A. Aleman,
on net asset value. Expenses of $5,159 on net asset value. Expenses of $9,264
Assistant Secretary. incurred in connection with the incurred in connection with the
[FR Doc. 2016–32040 Filed 1–5–17; 8:45 am] liquidation were paid by applicant’s liquidation were paid by applicant.
BILLING CODE 8011–01–P investment adviser. Filing Dates: The application was
Filing Date: The application was filed filed on October 28, 2016, and amended
18 17 CFR 200.30–3(a)(12). on October 18, 2016. on November 28, 2016.
VerDate Sep<11>2014 18:06 Jan 05, 2017 Jkt 241001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\06JAN1.SGM 06JAN1](https://thefederalregister.org/doc/82_FR_1771/page/4.svg)
Document Created: 2017-01-06 01:30:22
Document Modified: 2017-01-06 01:30:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 82 FR 1767 |
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