82 FR 8479 - Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Examination Requirement for CHX Market Maker Authorized Traders
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 15 (January 25, 2017)
Federal Register Volume 82, Issue 15 (January 25, 2017)
| Page Range | 8479-8481 | |
| FR Document | 2017-01607 |
[Federal Register Volume 82, Number 15 (Wednesday, January 25, 2017)] [Notices] [Pages 8479-8481] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-01607] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-79822; File No. SR-CHX-2017-01] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Examination Requirement for CHX Market Maker Authorized Traders January 18, 2017. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\, and Rule 19b-4 \2\ thereunder, notice is hereby given that on January 6, 2017 the Chicago Stock Exchange, Inc. (``CHX'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change CHX proposes to amend the Rules of the Exchange (``CHX Rules'') to modify the examination requirement for CHX Market Maker Authorized Traders (``MMATs''). The text of this proposed rule change is available on the Exchange's Web site at (www.chx.com) and in 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 CHX included statements concerning the purpose of and basis for the proposed rule changes [sic] 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 CHX 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 Changes 1. Purpose The Exchange proposes to amend CHX Rules to modify the examination requirement for CHX Market Maker Authorized Traders (``MMATs''). Specifically, the Exchange proposes to eliminate the requirement that prospective MMATs successfully complete the CHX Market Maker Authorized Trader Exam, which is an examination currently maintained and administered by the Exchange for prospective MMATs. In lieu of the CHX Market Maker Authorized Trader Exam, the Exchange proposes to require prospective MMATs to successfully complete the Series 57 Securities Trader Examination \3\ and any other training and/or certification programs as may be required the Exchange. --------------------------------------------------------------------------- \3\ A Representative (as defined under CHX Article 6, Rule 2(b)) that is engaged in securities trading activities, on either an agency or principal basis, for the Participant (as defined under CHX Article 1, Rule 1(s)) with which the Representative is associated, must register with the Exchange as a Securities Trader and pass the Series 57 Securities Trader Examination. See CHX Article 6, Rule 3(a)(1). --------------------------------------------------------------------------- The Exchange notes that the proposed rule change would harmonize the Exchange's MMAT examination requirement with the MMAT examination requirements of other national securities exchanges that require prospective MMATs (or equivalents) to successfully complete the Series 57 Securities Trader Examination.\4\ --------------------------------------------------------------------------- \4\ See, e.g., NYSE Arca Equities Rule 7.21(b)(2). Other markets do not explicitly recognize an MMAT registration category but require any person engaged in the purchase or sale of securities or other similar instruments for the account of a member organization, which would include market maker traders, to be registered as a Securities Trader and pass the Series 57 Securities Trader Examination. See e.g., paragraph .10 of the Supplementary Material under NYSE Rule 345; see also, e.g., NASDAQ PHLX Rule 613(f)(2). --------------------------------------------------------------------------- Background Current Article 16, Rule 3(b) provides the registration requirements for MMATs. Thereunder, current paragraph (b)(2) provides that to be eligible for registration as an MMAT, a person must be registered with the Exchange as provided in Article 6 and complete any other training and/or certification programs as may be required. Moreover, current paragraph .01(b) of the Interpretations and Policies of Article 6, Rule 3 provides that prior to the Exchange approving a Participant's request to register an individual as an MMAT, such individual must successfully complete the Market Maker Authorized Trader Exam. In order to further streamline and bring consistency to the qualification and registration requirements for MMATs (or equivalents) across different markets, the Exchange now proposes to eliminate the Market Maker Authorized Trader Exam and instead require prospective MMATs to successfully complete the Series 57 Securities Trader Examination in order to satisfy the Exchange's MMAT examination requirement. To this end, the Exchange proposes to delete current paragraph .01(b) of the Interpretations and Policies of Article 6, Rule 3 in its entirety and amend current Article 16, Rule 3(b)(2) to provide as follows: To be eligible for registration as a MMAT, a person must successfully complete the Series 57 Securities Trader Examination and any other training and/or certification programs as may be required by the Exchange. The Exchange does not propose to amend or modify any other requirements related to MMATs or Market Makers in general. [[Page 8480]] 2. Statutory Basis The Exchange believes that proposed rule change is consistent with Section 6(b) of the Act \5\ in general and Section 6(b)(5) of the Act \6\ in particular, which requires, among other things, that the Exchange's rules be 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 facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, protect investors and the public interest. --------------------------------------------------------------------------- \5\ 15 U.S.C. 78f(b). \6\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- In particular, the Exchange believes that the proposed rule change will remove impediments to and perfect the mechanism of a free and open market and a national market system by promoting consistency and uniformity among different markets \7\ regarding the qualification and registration requirements for individuals engaged in market making activities. For those individuals that are engaged in market making activities across different markets, the proposed rule change will result in efficiencies with respect to such individuals' registration and compliance efforts. --------------------------------------------------------------------------- \7\ See supra note 4. --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement of Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The Exchange believes that the proposed rule change will reduce the regulatory burden placed on market participants engaged in market making activities across different markets. The Exchange believes that the harmonization of the MMAT examination requirements across the various markets will reduce burdens on competition by removing impediments to participation in the national market system. C. Self-Regulatory Organization's Statement on Comments Regarding the Proposed Rule Changes Received From Members, Participants or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Changes and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6)(iii) thereunder.\9\ Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \10\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\11\ --------------------------------------------------------------------------- \8\ 15 U.S.C. 78s(b)(3)(A)(iii). \9\ 17 CFR 240.19b-4(f)(6). \10\ 15 U.S.C. 78s(b)(3)(A)(iii). \11\ In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 17 CFR 240.19b-4(f)(6). --------------------------------------------------------------------------- A proposed rule change filed under Rule 19b-4(f)(6) \12\ normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b-4(f)(6)(iii),\13\ the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. In this filing, the Exchange has asked that the Commission waive the requirement that the proposed rule change not become operative for 30 days after the date of the filing so that it may become operative on January 9, 2017. --------------------------------------------------------------------------- \12\ Id. \13\ Id. --------------------------------------------------------------------------- The Exchange notes that the proposal meets the required qualifications for effectiveness on filing under Section 19(b)(3)(A) of the Act \14\ and paragraph (f)(6) of Rule 19b-4 thereunder.\15\ As such, the Exchange has designated this rule filing as non-controversial under Section 19(b)(3)(A) of the Act \16\ and paragraph (f)(6) of Rule 19b-4 thereunder.\17\ Specifically, the Exchange notes that the waiver is appropriate as it would be unduly burdensome to prospective MMATs, especially those who have already passed the Series 57 Securities Trader Examination, to require them to take the CHX Market Maker Authorized Trader Exam weeks or days before the proposed rule change is to become operative. Moreover, based on the same reasons, waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78s(b)(3)(A). \15\ 17 CFR 240.19b-4. \16\ 15 U.S.C. 78s(b)(3)(A). \17\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest while not imposing any significant burden on competition because it will make the Chx's qualification and registration requirements for MMATs consistent with the qualification requirements of the other markets. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposed rule change to be operative on January 9, 2017.\18\ --------------------------------------------------------------------------- \18\ For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) of the Act 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 proposal is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File No. SR-CHX-2017-01 on the subject line. Paper Comments Send paper comments in triplicate to Robert W. Errett, Deputy Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File No. SR-CHX-2017-01. 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 [[Page 8481]] Commission, and all written communications relating to the proposed rule changes between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the CHX. 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-CHX-2017-01 and should be submitted on or before February 15, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-01607 Filed 1-24-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 15 / Wednesday, January 25, 2017 / Notices 8479
comments more efficiently, please use Items I and II below, which Items have and/or certification programs as may be
only one method. The Commission will been prepared by the Exchange. The required the Exchange.
post all comments on the Commission’s Commission is publishing this notice to The Exchange notes that the proposed
Internet Web site (http://www.sec.gov/ solicit comments on the proposed rule rule change would harmonize the
rules/sro.shtml). Copies of the change from interested persons. Exchange’s MMAT examination
submission, all subsequent requirement with the MMAT
amendments, all written statements I. Self-Regulatory Organization’s examination requirements of other
with respect to the proposed rule Statement of the Terms of Substance of national securities exchanges that
change that are filed with the the Proposed Rule Change require prospective MMATs (or
Commission, and all written CHX proposes to amend the Rules of equivalents) to successfully complete
communications relating to the the Series 57 Securities Trader
the Exchange (‘‘CHX Rules’’) to modify
proposed rule change between the Examination.4
the examination requirement for CHX
Commission and any person, other than
Market Maker Authorized Traders Background
those that may be withheld from the
(‘‘MMATs’’). The text of this proposed
public in accordance with the Current Article 16, Rule 3(b) provides
provisions of 5 U.S.C. 552, will be rule change is available on the
the registration requirements for
available for Web site viewing and Exchange’s Web site at (www.chx.com)
MMATs. Thereunder, current paragraph
printing in the Commission’s Public and in the Commission’s Public
(b)(2) provides that to be eligible for
Reference Room, 100 F Street NE., Reference Room.
registration as an MMAT, a person must
Washington, DC 20549, on official II. Self-Regulatory Organization’s be registered with the Exchange as
business days between the hours of Statement of the Purpose of, and provided in Article 6 and complete any
10:00 a.m. and 3:00 p.m. Copies of the Statutory Basis for, the Proposed Rule other training and/or certification
filing also will be available for Change programs as may be required. Moreover,
inspection and copying at the principal current paragraph .01(b) of the
office of the Exchange. All comments In its filing with the Commission, the Interpretations and Policies of Article 6,
received will be posted without change; CHX included statements concerning Rule 3 provides that prior to the
the Commission does not edit personal the purpose of and basis for the Exchange approving a Participant’s
identifying information from proposed rule changes [sic] and request to register an individual as an
submissions. You should submit only discussed any comments it received on MMAT, such individual must
information that you wish to make the proposed rule change. The text of successfully complete the Market Maker
available publicly. All submissions these statements may be examined at Authorized Trader Exam.
should refer to File Number SR–CBOE– the places specified in Item IV below. In order to further streamline and
2017–003 and should be submitted on The CHX has prepared summaries, set bring consistency to the qualification
or before February 15, 2017. forth in sections A, B and C below, of and registration requirements for
For the Commission, by the Division of the most significant aspects of such MMATs (or equivalents) across different
Trading and Markets, pursuant to delegated statements. markets, the Exchange now proposes to
authority.14 eliminate the Market Maker Authorized
Eduardo A. Aleman, A. Self-Regulatory Organization’s
Trader Exam and instead require
Statement of the Purpose of, and
Assistant Secretary. prospective MMATs to successfully
Statutory Basis for, the Proposed Rule
[FR Doc. 2017–01604 Filed 1–24–17; 8:45 am] complete the Series 57 Securities Trader
Changes
BILLING CODE 8011–01–P Examination in order to satisfy the
1. Purpose Exchange’s MMAT examination
requirement. To this end, the Exchange
SECURITIES AND EXCHANGE The Exchange proposes to amend proposes to delete current paragraph
COMMISSION CHX Rules to modify the examination .01(b) of the Interpretations and Policies
requirement for CHX Market Maker of Article 6, Rule 3 in its entirety and
[Release No. 34–79822; File No. SR–CHX–
Authorized Traders (‘‘MMATs’’). amend current Article 16, Rule 3(b)(2) to
2017–01]
Specifically, the Exchange proposes to provide as follows:
Self-Regulatory Organizations; eliminate the requirement that
To be eligible for registration as a MMAT,
Chicago Stock Exchange, Inc.; Notice prospective MMATs successfully a person must successfully complete the
of Filing and Immediate Effectiveness complete the CHX Market Maker Series 57 Securities Trader Examination and
of Proposed Rule Change To Modify Authorized Trader Exam, which is an any other training and/or certification
the Examination Requirement for CHX examination currently maintained and programs as may be required by the
Market Maker Authorized Traders administered by the Exchange for Exchange.
prospective MMATs. In lieu of the CHX The Exchange does not propose to
January 18, 2017. Market Maker Authorized Trader Exam,
Pursuant to Section 19(b)(1) of the amend or modify any other
the Exchange proposes to require requirements related to MMATs or
Securities Exchange Act of 1934 prospective MMATs to successfully
(‘‘Act’’) 1, and Rule 19b–4 2 thereunder, Market Makers in general.
complete the Series 57 Securities Trader
notice is hereby given that on January 6, Examination 3 and any other training 4 See, e.g., NYSE Arca Equities Rule 7.21(b)(2).
2017 the Chicago Stock Exchange, Inc.
Other markets do not explicitly recognize an
mstockstill on DSK3G9T082PROD with NOTICES
(‘‘CHX’’ or the ‘‘Exchange’’) filed with 3 A Representative (as defined under CHX Article MMAT registration category but require any person
the Securities and Exchange 6, Rule 2(b)) that is engaged in securities trading engaged in the purchase or sale of securities or
Commission (‘‘Commission’’) the activities, on either an agency or principal basis, for other similar instruments for the account of a
proposed rule change as described in the Participant (as defined under CHX Article 1, member organization, which would include market
Rule 1(s)) with which the Representative is maker traders, to be registered as a Securities Trader
associated, must register with the Exchange as a and pass the Series 57 Securities Trader
14 17 CFR 200.30–3(a)(12). Securities Trader and pass the Series 57 Securities Examination. See e.g., paragraph .10 of the
1 15 U.S.C. 78s(b)(1). Trader Examination. See CHX Article 6, Rule Supplementary Material under NYSE Rule 345; see
2 17 CFR 240.19b–4. 3(a)(1). also, e.g., NASDAQ PHLX Rule 613(f)(2).
VerDate Sep<11>2014 20:29 Jan 24, 2017 Jkt 241001 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\25JAN1.SGM 25JAN1](https://thefederalregister.org/doc/82_FR_8494/page/1.svg)
![Federal Register / Vol. 82, No. 15 / Wednesday, January 25, 2017 / Notices 8481
Commission, and all written pursuant to Section 19(b)(3)(A)(ii) of the through the Solicitation Auction
communications relating to the Act,3 and Rule 19b–4(f)(2) thereunder,4 mechanism 6 and the Exchange is
proposed rule changes between the which renders the proposal effective submitting this filing to clarify the fees
Commission and any person, other than upon filing with the Commission. The that are applicable to these transactions.
those that may be withheld from the Commission is publishing this notice to Generally, Complex Order
public in accordance with the solicit comments on the proposed rule transactions are subject to the fees and
provisions of 5 U.S.C. 552, will be change from interested persons. credits set forth in Section III (Complex
available for Web site viewing and I. Self-Regulatory Organization’s Order Transaction Fees) of the BOX Fee
printing in the Commission’s Public Statement of the Terms of the Substance Schedule while transactions executed
Reference Room, 100 F Street NE., of the Proposed Rule Change through the Facilitation and Solicitation
Washington, DC 20549 on official auction mechanisms are subject to
business days between the hours of The Exchange is filing with the Sections I (Exchange Fees) and II
10:00 a.m. and 3:00 p.m. Copies of the Securities and Exchange Commission (Liquidity Fees and Credits). The
filing also will be available for (‘‘Commission’’) a proposed rule change Exchange proposes to add language that
inspection and copying at the principal to amend the Fee Schedule to on the clarifies that Complex Order
office of the CHX. All comments BOX Market LLC (‘‘BOX’’) options transactions executed through Auction
received will be posted without change; facility. While changes to the fee Mechanisms 7 will be subject to Sections
the Commission does not edit personal schedule pursuant to this proposal will I (Exchange Fees) and II (Liquidity Fees
identifying information from be effective upon filing, the changes will and Credits).
submissions. You should submit only become operative on January 9, 2017.
Under Section I (Exchange Fees), the
information that you wish to make The text of the proposed rule change is
available from the principal office of the Exchange proposes the following fees
available publicly. All submissions for Complex Order transactions
should refer to File No. SR–CHX–2017– Exchange, at the Commission’s Public
Reference Room and also on the executed through the Solicitation
01 and should be submitted on or before auction mechanism. For Agency
February 15, 2017. Exchange’s Internet Web site at http://
boxexchange.com. Orders 8 and Solicitation Orders,
For the Commission, by the Division of Professional Customers, Broker Dealers
Trading and Markets, pursuant to delegated II. Self-Regulatory Organization’s and Market Makers will be charged
authority.19 Statement of the Purpose of, and $0.15 in Penny and Non-Penny Pilot
Eduardo A. Aleman, Statutory Basis for, the Proposed Rule Classes, and Public Customers will not
Assistant Secretary. Change be charged. For Responses in the
[FR Doc. 2017–01607 Filed 1–24–17; 8:45 am] In its filing with the Commission, the Solicitation Auction, all account types
BILLING CODE 8011–01–P Exchange included statements will be charged $0.25 for Penny Pilot
concerning the purpose of and basis for Classes and $0.40 for Non-Penny Pilot
the proposed rule change and discussed Classes.
SECURITIES AND EXCHANGE any comments it received on the The Exchange then proposes to treat
COMMISSION proposed rule change. The text of these Complex Order transactions executed
statements may be examined at the through the Solicitation mechanism in
[Release No. 34–79832; File No. SR–BOX– places specified in Item IV below. The the same manner as single legged
2017–01]
Exchange has prepared summaries, set Solicitation transactions for liquidity
Self-Regulatory Organizations; BOX forth in Sections A, B, and C below, of fees and credits, which are applied in
Options Exchange LLC; Notice of the most significant aspects of such addition to any applicable exchange fees
Filing and Immediate Effectiveness of statements. as described in Section I of the Fee
a Proposed Rule Change To Amend Schedule. The fee structure for liquidity
A. Self-Regulatory Organization’s
the Fee Schedule on the BOX Market fees and credits for Complex Orders
Statement of the Purpose of, and
LLC (‘‘BOX’’) Options Facility executed through the Solicitation
Statutory Basis for, the Proposed Rule
mechanisms will be as follows:
Change
January 18, 2017.
Pursuant to Section 19(b)(1) of the 1. Purpose simultaneous purchase and/or sale of two or more
Securities Exchange Act of 1934 (the different options series in the same underlying
The Exchange proposes to amend security, for the same account, in a ratio that is
‘‘Act’’),1 and Rule 19b–4 thereunder,2 Section III (Complex Order Transaction equal to or greater than one-to-three (.333) and less
notice is hereby given that on January 5, Fees) to specify that all Complex Order than or equal to three-to-one (3.00) and for the
2017, BOX Options Exchange LLC (the transactions executed through the purpose of executing a particular investment
‘‘Exchange’’) filed with the Securities strategy.
Exchange’s auction mechanisms will be 6 See Securities [sic] Release No. 79557
and Exchange Commission subject to Section I (Exchange Fees) and (December 14, 2016), 81 FR 92919 (December 20,
(‘‘Commission’’) the proposed rule II (Liquidity Fees and Credits) of the 2016) (Notice of Filing and Immediate Effectiveness
change as described in Items I, II, and BOX Fee Schedule. The Exchange SR–BOX–2016–57).
III below, which Items have been recently amended its rules to permit 7 BOX’s auction mechanisms include the Price
prepared by the Exchange. The Improvement Period (‘‘PIP’’), Complex Order Price
Complex Order 5 transactions to execute Improvement Period (‘‘COPIP’’), Facilitation
Exchange filed the proposed rule change Auction and Solicitation Auction.
3 15 U.S.C. 78s(b)(3)(A)(ii). 8 An Agency Order is the block-size order that an
mstockstill on DSK3G9T082PROD with NOTICES
19 17 CFR 200.30–3(a)(12). 4 17 CFR 240.19b–4(f)(2). Order Flow Provider ‘‘OFP’’ seeks to facilitate as
1 15 U.S.C. 78s(b)(1). 5 As defined in Rule 7240(a)(5), the term agent through the Facilitation Auction or
2 17 CFR 240.19b–4. ‘‘Complex Order’’ means any order involving the Solicitation Auction mechanism.
VerDate Sep<11>2014 20:29 Jan 24, 2017 Jkt 241001 PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\25JAN1.SGM 25JAN1](https://thefederalregister.org/doc/82_FR_8494/page/3.svg)
Document Created: 2017-01-25 00:08:50
Document Modified: 2017-01-25 00:08:50
| 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 8479 |
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR