82_FR_23992 82 FR 23893 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change to Bats BZX Rule 14.13, Company Listing Fees, and to the Bats BZX Fee Schedule

82 FR 23893 - Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Withdrawal of a Proposed Rule Change to Bats BZX Rule 14.13, Company Listing Fees, and to the Bats BZX Fee Schedule

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 82, Issue 99 (May 24, 2017)

Page Range23893-23894
FR Document2017-10582

Federal Register, Volume 82 Issue 99 (Wednesday, May 24, 2017) 
[Federal Register Volume 82, Number 99 (Wednesday, May 24, 2017)]
[Notices]
[Pages 23893-23894]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-10582]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80714; File No. SR-BatsBZX-2016-60]


Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of 
Withdrawal of a Proposed Rule Change to Bats BZX Rule 14.13, Company 
Listing Fees, and to the Bats BZX Fee Schedule

May 18, 2017.
    On September 29, 2016, Bats BZX Exchange, Inc. (``Exchange'' or 
``BZX'') filed with the Securities and Exchange

[[Page 23894]]

Commission (``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend (1) the fees set forth 
in BZX Rule 14.13 applicable to securities listed on the Exchange, and 
(2) the fee schedule applicable to Members \3\ and non-Members of the 
Exchange pursuant to Exchange Rules 15.1(a) and (c). BZX designated the 
proposed rule change as immediately effective upon filing with the 
Commission pursuant to Section 19(b)(3)(A) of the Act.\4\ On October 
14, 2016, the Commission published notice of filing of the proposed 
rule change and pursuant to Section 19(b)(3)(C) of the Act: (1) 
Temporarily suspended the proposed rule change; and (2) instituted 
proceedings to determine whether to approve or disapprove the 
proposal.\5\ On April 14, 2017, pursuant to Section 19(b)(2) of the 
Act,\6\ the Commission designated a longer period within which to 
approve or disapprove the proposed rule change.\7\ The Commission 
received three comment letters on the proposal.\8\ On May 17, 2017, the 
Exchange withdrew the proposed rule change (SR-BatsBZX-2016-60).
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ A Member is defined as ``any registered broker or dealer 
that has been admitted to membership in the Exchange.'' See BZX Rule 
1.5(n).
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ See Securities Exchange Act Release No. 79103, 81 FR 72624 
(Oct. 20, 2016).
    \6\ 15 U.S.C. 78s(b)(2).
    \7\ See Securities Exchange Act Release No. 80461, 82 FR 18681 
(Apr. 20, 2017). The Commission designated June 17, 2017, as the 
date by which it should approve or disapprove the proposed rule 
change.
    \8\ See letter to Brent J. Fields, Secretary, Commission, from 
Kyle Murray, Assistant General Counsel, Bats Global Markets, Inc., 
dated November 22, 2016; letter to Brent J. Fields, Secretary, 
Commission, from Douglas A. Cifu, Chief Executive Officer, Virtu 
Financial, Inc., dated December 20, 2016; and letter to Brent J. 
Fields, Secretary, Commission, from Andrew Madar, Senior Associate 
General Counsel, NASDAQ Stock Market LLC, dated January 27, 2017. 
Comment letters are available at: https://www.sec.gov/comments/sr-batsbzx-2016-60/batsbzx201660.shtml.

    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. 2017-10582 Filed 5-23-17; 8:45 am]
 BILLING CODE 8011-01-P

Federal Register / Vol. 82, No. 99 / Wednesday, May 24, 2017 / Notices 23893 OPRA is a securities information 4(f)(6)(iii) 19 permits the Commission to Commission, 100 F Street NE., processor that disseminates last sale designate a shorter time if such action Washington, DC 20549–1090. reports and quotations, as well as the is consistent with the protection of All submissions should refer to File number of options contracts traded, investors and the public interest. The Number SR–GEMX–2017–13. This file open interest and end-of-day Exchange has requested that the number should be included on the summaries. Many customers that obtain Commission waive the 30-day operative subject line if email is used. To help the information from OPRA do not also delay so that the Exchange can Commission process and review your purchase proprietary data, but in cases immediately offer subscribers the comments more efficiently, please use in which customers buy both products, historical GEMX Open/Close Trade only one method. The Commission will they may shift purchasing decisions Profile. The Exchange represents that post all comments on the Commission’s based on price changes. OPRA waiver of the 30-day operative delay Internet Web site (http://www.sec.gov/ constrains the price of proprietary data would allow it to provide data to rules/sro.shtml). Copies of the products on options exchanges because customers who have expressed a submission, all subsequent no customer would pay an excessive specific interest in purchasing it. The amendments, all written statements price for these products when they Exchange also represents that the data is with respect to the proposed rule already have data from OPRA. purely historical and only of use to change that are filed with the Similarly, no customer would pay an create and test trading models and Commission, and all written excessive price for Exchange data when analytical strategies, similar data is communications relating to the they have the ability to obtain similar already being provided by the ISE, and proposed rule change between the proprietary data from other exchanges. the purchase of such data is purely Commission and any person, other than It is not necessary that products be optional. The Commission believes that those that may be withheld from the identical in order to be reasonable waiver of the 30-day operative delay is public in accordance with the substitutes for each other. consistent with the protection of provisions of 5 U.S.C. 552, will be For these reasons, the competition for investors and the public interest. available for Web site viewing and order flow and the existence of multiple Therefore, the Commission hereby printing in the Commission’s Public substitutes will constrain prices for the waives the 30-day operative delay and Reference Room, 100 F Street NE., GEMX Trade Profile product. designates the proposed rule change Washington, DC 20549, on official Accordingly, the Exchange does not operative upon filing.20 business days between the hours of believe that the proposed changes will At any time within 60 days of the 10:00 a.m. and 3:00 p.m. Copies of the impair the ability of members or filing of the proposed rule change, the filing also will be available for competing order execution venues to Commission summarily may inspection and copying at the principal maintain their competitive standing in temporarily suspend such rule change if office of the Exchange. All comments the financial markets. it appears to the Commission that such received will be posted without change; C. Self-Regulatory Organization’s action is: (i) Necessary or appropriate in the Commission does not edit personal Statement on Comments on the the public interest; (ii) for the protection identifying information from Proposed Rule Change Received From of investors; or (iii) otherwise in submissions. You should submit only Members, Participants, or Others furtherance of the purposes of the Act. information that you wish to make No written comments were either If the Commission takes such action, the available publicly. All submissions solicited or received. Commission shall institute proceedings should refer to File Number SR–GEMX– to determine whether the proposed rule 2017–13 and should be submitted on or III. Date of Effectiveness of the should be approved or disapproved. before June 14, 2017. Proposed Rule Change and Timing for Commission Action IV. Solicitation of Comments For the Commission, by the Division of Trading and Markets, pursuant to delegated Because the foregoing proposed rule Interested persons are invited to authority.21 change does not: (i) Significantly affect submit written data, views, and Eduardo A. Aleman, the protection of investors or the public arguments concerning the foregoing, Assistant Secretary. interest; (ii) impose any significant including whether the proposed rule [FR Doc. 2017–10590 Filed 5–23–17; 8:45 am] burden on competition; and (iii) become change is consistent with the Act. BILLING CODE 8011–01–P operative for 30 days from the date on Comments may be submitted by any of which it was filed, or such shorter time the following methods: as the Commission may designate, it has Electronic Comments SECURITIES AND EXCHANGE become effective pursuant to Section COMMISSION 19(b)(3)(A)(iii) of the Act 16 and • Use the Commission’s Internet subparagraph (f)(6) of Rule 19b–4 comment form (http://www.sec.gov/ [Release No. 34–80714; File No. SR– thereunder.17 rules/sro.shtml); or BatsBZX–2016–60] A proposed rule change filed under • Send an email to rule-comments@ Rule 19b–4(f)(6) 18 normally does not sec.gov. Please include File Number SR– Self-Regulatory Organizations; Bats become operative for 30 days after the GEMX–2017–13 on the subject line. BZX Exchange, Inc.; Notice of date of filing. However, Rule 19b– Withdrawal of a Proposed Rule Change Paper Comments to Bats BZX Rule 14.13, Company asabaliauskas on DSK3SPTVN1PROD with NOTICES 16 15 U.S.C. 78s(b)(3)(A)(iii). • Send paper comments in triplicate Listing Fees, and to the Bats BZX Fee 17 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– to Secretary, Securities and Exchange Schedule 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file May 18, 2017. 19 17 CFR 240.19b–4(f)(6)(iii). the proposed rule change at least five business days On September 29, 2016, Bats BZX prior to the date of filing of the proposed rule 20 For purposes only of waiving the 30-day Exchange, Inc. (‘‘Exchange’’ or ‘‘BZX’’) change, or such shorter time as designated by the operative delay, the Commission also has Commission. The Exchange has satisfied this considered the proposed rule’s impact on filed with the Securities and Exchange requirement. efficiency, competition, and capital formation. See 18 17 CFR 240.19b–4(f)(6). 15 U.S.C. 78c(f). 21 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 19:43 May 23, 2017 Jkt 241001 PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 E:\FR\FM\24MYN1.SGM 24MYN1

23894 Federal Register / Vol. 82, No. 99 / Wednesday, May 24, 2017 / Notices Commission (‘‘Commission’’), pursuant SECURITIES AND EXCHANGE Compliance with the Rule is to Section 19(b)(1) of the Securities COMMISSION mandatory. The Commission will Exchange Act of 1934 (‘‘Act’’) 1 and Rule generally not publish or make available 19b–4 thereunder,2 a proposed rule Proposed Collection; Comment to any person notices or reports received change to amend (1) the fees set forth in Request pursuant to Rule 17a–11. The BZX Rule 14.13 applicable to securities Upon Written Request, Copies Available Commission believes that information listed on the Exchange, and (2) the fee From: Securities and Exchange obtained under Rule 17a–11 relates to a schedule applicable to Members 3 and Commission, Office of FOIA Services, condition report prepared for the use of non-Members of the Exchange pursuant 100 F Street NE., Washington, DC the Commission, other federal 20549–2736. governmental authorities, and securities to Exchange Rules 15.1(a) and (c). BZX industry self-regulatory organizations designated the proposed rule change as Extension: responsible for the regulation or immediately effective upon filing with Rule 17a–11. SEC File. No. 270–94, OMB supervision of financial institutions. the Commission pursuant to Section Control No. 3235–0085. The Commission expects to receive 19(b)(3)(A) of the Act.4 On October 14, Notice is hereby given that pursuant 253 notices from broker-dealers whose 2016, the Commission published notice to the Paperwork Reduction Act of 1995 capital declines below certain specified of filing of the proposed rule change and (44 U.S.C. 3501 et seq.), the Securities levels or who are otherwise pursuant to Section 19(b)(3)(C) of the and Exchange Commission experiencing financial or operational Act: (1) Temporarily suspended the (‘‘Commission’’) is soliciting comments problems and ten notices each year from proposed rule change; and (2) instituted on the existing collection of information national securities exchange or national proceedings to determine whether to provided for in Rule 17a–11 (17 CFR securities association notifying it that a approve or disapprove the proposal.5 240.17a–11) under the Securities member broker-dealer has failed to send On April 14, 2017, pursuant to Section Exchange Act of 1934 (15 U.S.C. 78a et the Commission a notice or transmit a 19(b)(2) of the Act,6 the Commission seq.) (‘‘Exchange Act’’). The report required under the Rule. The designated a longer period within which Commission plans to submit this Commission expects that it will take to approve or disapprove the proposed existing collection of information to the approximately one hour to prepare and rule change.7 The Commission received Office of Management and Budget for transmit each notice. extension and approval. Rule 17a–11 also requires broker- three comment letters on the proposal.8 In response to an operational crisis in dealers engaged in securities lending or On May 17, 2017, the Exchange the securities industry between 1967 repurchase activities to either: (1) File a withdrew the proposed rule change and 1970, the Commission adopted Rule notice with the Commission and their (SR–BatsBZX–2016–60). 17a–11 (17 CFR 240.17a–11) under the DEA whenever the total money payable For the Commission, by the Division of Exchange Act on July 11, 1971. The against all securities loaned, subject to Trading and Markets, pursuant to delegated Rule requires broker-dealers that are a reverse repurchase agreement or the authority.9 experiencing financial or operational contract value of all securities borrowed Eduardo A. Aleman, difficulties to provide notice to the or subject to a repurchase agreement, Assistant Secretary. Commission, the broker-dealer’s exceeds 2,500% of tentative net capital; designated examining authority or, alternatively, (2) report monthly [FR Doc. 2017–10582 Filed 5–23–17; 8:45 am] (‘‘DEA’’), and the Commodity Futures their securities lending and repurchase BILLING CODE 8011–01–P Trading Commission (‘‘CFTC’’) if the activities to their DEA in a form broker-dealer is registered with the acceptable to their DEA. CFTC as a futures commission The Commission estimates that, merchant. Rule 17a–11 is an integral annually, six broker-dealers will submit part of the Commission’s financial the monthly stock loan/borrow report. 1 15 U.S.C. 78s(b)(1). responsibility program which enables The Commission estimates each firm 2 17 CFR 240.19b–4. the Commission, a broker-dealer’s DEA, will spend, on average, approximately 3 A Member is defined as ‘‘any registered broker and the CFTC to increase surveillance of one hour per month (or twelve hours or dealer that has been admitted to membership in a broker-dealer experiencing difficulties per year) of employee resources to the Exchange.’’ See BZX Rule 1.5(n). and to obtain any additional prepare and send the report or to 4 15 U.S.C. 78s(b)(3)(A). information necessary to gauge the prepare the information for the FOCUS 5 See Securities Exchange Act Release No. 79103, broker-dealer’s financial or operational report (as required by the firm’s DEA, if 81 FR 72624 (Oct. 20, 2016). condition. 6 15 U.S.C. 78s(b)(2). applicable). Therefore, the Commission Rule 17a–11 also requires over-the- estimates the total annual reporting 7 See Securities Exchange Act Release No. 80461, counter (‘‘OTC’’) derivatives dealers and burden arising from this section of the 82 FR 18681 (Apr. 20, 2017). The Commission broker-dealers that are permitted to amendment will be approximately 72 designated June 17, 2017, as the date by which it should approve or disapprove the proposed rule compute net capital pursuant to hours.1 change. Appendix E to Exchange Act Rule 15c3– Therefore, the total annual reporting 8 See letter to Brent J. Fields, Secretary, 1 to notify the Commission when their burden associated with Rule 17a–11 is Commission, from Kyle Murray, Assistant General tentative net capital drops below certain approximately 335 hours.2 Counsel, Bats Global Markets, Inc., dated November levels. Written comments are invited on: (a) To ensure the provision of these types asabaliauskas on DSK3SPTVN1PROD with NOTICES 22, 2016; letter to Brent J. Fields, Secretary, Whether the proposed collection of Commission, from Douglas A. Cifu, Chief Executive of notices to the Commission, Rule 17a– information is necessary for the proper Officer, Virtu Financial, Inc., dated December 20, 11 requires every national securities performance of the functions of the 2016; and letter to Brent J. Fields, Secretary, exchange or national securities Commission, including whether the Commission, from Andrew Madar, Senior Associate General Counsel, NASDAQ Stock Market LLC, association to notify the Commission information shall have practical utility; dated January 27, 2017. Comment letters are when it learns that a member broker- (b) the accuracy of the Commission’s available at: https://www.sec.gov/comments/sr- dealer has failed to send a notice or batsbzx-2016-60/batsbzx201660.shtml. transmit a report required under the 16 broker-dealers × 12 hours per year = 72 hours. 9 17 CFR 200.30–3(a)(12). Rule. 2 253 + 10 + 72. VerDate Sep<11>2014 19:43 May 23, 2017 Jkt 241001 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 E:\FR\FM\24MYN1.SGM 24MYN1


Document Created: 2017-05-24 01:02:43
Document Modified: 2017-05-24 01:02:43
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 23893 
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