Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rules Related to Obvious Errors, 45006-45008 [2015-18538]
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Federal Register / Vol. 80, No. 144 / Tuesday, July 28, 2015 / Notices
licensees pursuant to title 10 of the
Code of Federal Regulations part
50.54(f). The information requested
includes seismic and flooding hazard
reevaluations to determine if further
regulatory action is necessary,
walkdowns to confirm compliance with
the current licensing basis and provide
input to the hazard reevaluations, and
analysis of the Emergency Preparedness
capability with respect to staffing and
communication ability during a
prolonged multiunit event. The NRC
will use the information provided by
licensees to determine if additional
regulatory action is necessary.
III. Specific Requests for Comments
The NRC is seeking comments that
address the following questions:
1. Is the proposed collection of
information necessary for the NRC to
properly perform its functions? Does the
information have practical utility?
2. Is the estimate of the burden of the
information collection accurate?
3. Is there a way to enhance the
quality, utility, and clarity of the
information to be collected?
4. How can the burden of the
information collection on respondents
be minimized, including the use of
automated collection techniques or
other forms of information technology?
Dated at Rockville, Maryland, this 21st day
of July 2015.
For the Nuclear Regulatory Commission.
Tremaine U. Donnell,
Senior Specialist, FOIA, Privacy, and
Information Collection Branch, Customer
Service Division, Office of Information
Services.
[FR Doc. 2015–18408 Filed 7–27–15; 8:45 am]
BILLING CODE 7590–01–P
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
By the Commission.
Ruth Ann Abrams,
Acting Secretary.
[FR Doc. 2015–18426 Filed 7–27–15; 8:45 am]
BILLING CODE 7710–FW–P
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
SECURITIES AND EXCHANGE
COMMISSION
Table of Contents
[Release No. 34–75513; File No. SR–C2–
2015–018]
I. Introduction
II. Notice of Commission Action
III. Ordering Paragraphs
I. Introduction
On July 20, 2015, the Postal Service
filed notice that it has entered into an
additional Global Reseller Expedited
Package Contracts 2 (GREP 2) negotiated
service agreement (Agreement).1
To support its Notice, the Postal
Service filed a copy of the Agreement,
a copy of the Governors’ Decision
authorizing the product, a certification
of compliance with 39 U.S.C. 3633(a),
and an application for non-public
treatment of certain materials. It also
filed supporting financial workpapers.
II. Notice of Commission Action
The Commission establishes Docket
No. CP2015–106 for consideration of
matters raised by the Notice.
The Commission invites comments on
whether the Postal Service’s filing is
consistent with 39 U.S.C. 3632, 3633, or
3642, 39 CFR part 3015, and 39 CFR
part 3020, subpart B. Comments are due
no later than July 29, 2015. The public
portions of the filing can be accessed via
the Commission’s Web site (https://
www.prc.gov).
The Commission appoints Lyudmila
Y. Bzhilyanskaya to serve as Public
Representative in this docket.
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend Exchange Rules
Related to Obvious Errors
July 23, 2015.
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 July 15,
2015, C2 Options Exchange,
Incorporated (the ‘‘Exchange’’ or ‘‘C2’’)
filed with the Securities and Exchange
Commission (the ‘‘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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange seeks to amend its rules
related to obvious errors. The text of the
proposed rule change is provided
below.
(additions are italicized; deletions are
[bracketed])
*
*
*
*
*
C2 Options Exchange, Incorporated Rules
POSTAL REGULATORY COMMISSION
III. Ordering Paragraphs
[Docket No. CP2015–106; Order No. 2603]
*
Rule 6.15 Nullification and Adjustment of
Options Transactions Including Obvious
Errors
The Commission is noticing a
recent Postal Service filing concerning
an additional Global Reseller Expedited
Package Contracts 2 negotiated service
agreement. This notice informs the
public of the filing, invites public
comment, and takes other
administrative steps.
DATES: Comments are due: July 29,
2015.
It is ordered:
1. The Commission establishes Docket
No. CP2015–106 for consideration of the
matters raised by the Postal Service’s
Notice.
2. Pursuant to 39 U.S.C. 505,
Lyudmila Y. Bzhilyanskaya is appointed
to serve as an officer of the Commission
to represent the interests of the general
public in this proceeding (Public
Representative).
3. Comments are due no later than
July 29, 2015.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
1 Notice of United States Postal Service of Filing
a Functionally Equivalent Global Reseller
Expedited Package 2 Negotiated Service Agreement,
July 20, 2015 (Notice).
New Postal Product
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
asabaliauskas on DSK5VPTVN1PROD with NOTICES
SUMMARY:
ADDRESSES:
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*
*
*
*
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*
.06 Verifiable Disruptions or Malfunctions
of Exchange Systems: Electronic transactions
arising out of a ‘‘verifiable disruption or
malfunction’’ in the use or operation of any
Exchange automated quotation,
dissemination, execution, or communication
system will either be nullified or adjusted by
an Official. Transactions that qualify for
price adjustment will be adjusted to
Theoretical Price, as defined in paragraph (b)
above.
*
*
*
*
*
The text of the proposed rule change
is also available on the Exchange’s Web
1 15
2 17
E:\FR\FM\28JYN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
28JYN1
Federal Register / Vol. 80, No. 144 / Tuesday, July 28, 2015 / Notices
site (https://www.cboe.com/AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange is seeking to amend its
rules related to obvious errors.
Specifically, the Exchange is seeking to
add Interpretation and Policy .06 to
provide the Exchange the ability to
nullify or adjust transactions arising out
of a verifiable disruption or malfunction
of Exchange systems.
Similar to Chicago Board Options
Exchange, Inc. (‘‘CBOE’’) Rule 6.25.05,
the proposed rule would allow an
Exchange Official to nullify or adjust a
transaction that arises out of a verifiable
disruption or malfunction in the use or
operation of any Exchange automated
quotation, dissemination, execution, or
communication system.3 For example, if
a malfunctioning exchange system
caused orders to be generated and
executed without instructions from a
Trading Permit Holder, the proposed
rule would allow the Exchange to
nullify the transactions. Transactions
that qualify for price adjustment will be
adjusted to Theoretical Price, as defined
in paragraph (b) of Rule 6.15.
The Exchange believes that it is
appropriate to provide the flexibility
and authority provided for in the
proposed rule so as not to limit the
Exchange’s ability to plan for and
respond to unforeseen systems problems
or malfunctions. The proposed rule
change would provide the Exchange
with the same authority that other
Exchanges have to nullify or adjust
trades in the event of a ‘‘verifiable
disruption or malfunction’’ in the use or
3 The proposed rule removes reference to open
outcry as C2 is an all-electronic exchange.
VerDate Sep<11>2014
19:17 Jul 27, 2015
Jkt 235001
operation of its systems.4 For this
reason, the Exchange believes that, in
the interest of maintaining a fair and
orderly market and for the protection of
investors, authority to nullify or adjust
trades in these circumstances,
consistent with the authority on other
exchanges, is warranted.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.5 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 6 requirements that the rules of
an exchange 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 regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, to remove impediments to
and perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest.
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 7 requirement that
the rules of an exchange not be designed
to permit unfair discrimination between
customers, issuers, brokers, or dealers.
In particular, the Exchange believes
that the proposed rule change would
remove impediments to and perfect the
mechanism of a free and open market
and national market system and
promote a fair and orderly market
because it would provide authority for
the Exchange to nullify or adjust trades
that may have resulted from a verifiable
systems disruption or malfunction. The
Exchange believes that it is appropriate
to provide the flexibility and authority
provided for in the proposed rule so as
not to limit the Exchange’s ability to
plan for and respond to unforeseen
systems problems or malfunctions that
may result in harm to the public.
Allowing for the nullification or
modification of transactions that result
from verifiable disruptions and/or
malfunctions of Exchanges systems will
offer market participants on C2 a level
of relief presently not available. The
Exchange notes that the proposed rule
4 See CBOE Rule 6.25.05, NASDAQ OMX PHLX,
LLC (‘‘Phlx’’) Rule 1092(k) and NYSE Arca, Inc.
(‘‘Arca’’) Rule 6.89.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
7 Id.
PO 00000
Frm 00084
Fmt 4703
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45007
change is based on CBOE rules and is
substantially similar to rules of Phlx,
and Arca.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
C2 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. Rather, the
Exchange believes that the proposed
rule change is pro-competitive because
it will align the Exchange’s rules with
the rules of other markets, including
CBOE, Arca, and Phlx. By adopting the
proposed rule, the Exchange will be in
a position to treat transactions that are
a result of a verifiable systems issue or
malfunction in a manner similar to
other exchanges.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not:
A. Significantly affect the protection
of investors or the public interest;
B. impose any significant burden on
competition; and
C. become operative for 30 days from
the date on which it was filed, or such
shorter time as the Commission may
designate, it has become effective
pursuant to Section 19(b)(3)(A) of the
Act 8 and Rule 19b–4(f)(6) 9 thereunder.
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 will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and the text of 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.
9 17
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45008
Federal Register / Vol. 80, No. 144 / Tuesday, July 28, 2015 / Notices
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:
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
C2–2015–018 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–C2–2015–018. 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 (https://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–C2–
2015–018, and should be submitted on
or before August 18, 2015.
19:17 Jul 27, 2015
Jkt 235001
[FR Doc. 2015–18599 Filed 7–24–15; 4:15 pm]
BILLING CODE 8011–01–P
BILLING CODE P
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold an Open Meeting
on Friday, July 31, 2015, at 1 p.m., in
the Auditorium (L–002) at the
Commission’s headquarters building, to
hear oral argument in an appeal by the
Respondents Raymond J. Lucia
Companies, Inc. (‘‘RJLC’’) and Raymond
J. Lucia, Sr. (‘‘Lucia’’), and a crossappeal by the Division of Enforcement,
from an initial decision of an
administrative law judge.
On December 6, 2013, the law judge
found that RJLC violated Sections
206(1), 206(2), and 206(4) of the
Investment Advisers Act of 1940 by
misleading prospective clients about its
Buckets of Money retirement wealth
management strategy, and that Lucia
aided and abetted and caused RJLC’s
violations. For these violations, the law
judge barred Lucia from associating
with an investment adviser, broker, or
dealer; revoked RJLC’s and Lucia’s
investment adviser registrations;
ordered RJLC and Lucia to cease and
desist from further violations of the
Advisers Act; and imposed civil
penalties of $250,000 on RJLC and
$50,000 on Lucia. The law judge also
found that RJLC did not violate, and
Lucia did not aid and abet and cause a
violation of, Advisers Act Rule 206(4)–
1(a)(5) concerning fraudulent
advertisements by investment advisers.
The Respondents appealed the law
judge’s findings of violation and the
sanctions imposed, and the Division
cross-appealed the law judge’s Rule
206(4)–1(a)(5) findings. The issues
likely to be considered at oral argument
include, among other things, whether
Respondents violated the antifraud
provisions as alleged and, if so, the
extent to which they should be
sanctioned for those violations.
For further information, please
contact the Office of the Secretary at
(202) 551–5400.
10 17
VerDate Sep<11>2014
Dated: July 24, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–18538 Filed 7–27–15; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
asabaliauskas on DSK5VPTVN1PROD with NOTICES
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Robert W. Errett,
Deputy Secretary.
PO 00000
CFR 200.30–3(a)(12).
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SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on Thursday, July 30, 2015 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or her designee, has
certified that, in her opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (a)(5), (a)(7),
(9)(ii) and (a)(10), permit consideration
of the scheduled matter at the Closed
Meeting.
Commissioner Piwowar, as duty
officer, voted to consider the items
listed for the Closed Meeting in closed
session.
The subject matter of the Closed
Meeting will be:
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings; and
Other matters relating to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact the Office of the Secretary at
(202) 551–5400.
Dated: July 23, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015–18571 Filed 7–24–15; 11:15 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #14330 and #14331]
Oklahoma Disaster Number OK–00092
U.S. Small Business
Administration.
ACTION: Amendment 8.
AGENCY:
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]]>Agencies
[Federal Register Volume 80, Number 144 (Tuesday, July 28, 2015)]
[Notices]
[Pages 45006-45008]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18538]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75513; File No. SR-C2-2015-018]
Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Amend Exchange Rules Related to Obvious Errors
July 23, 2015.
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 July 15, 2015, C2 Options Exchange, Incorporated (the
``Exchange'' or ``C2'') filed with the Securities and Exchange
Commission (the ``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
The Exchange seeks to amend its rules related to obvious errors.
The text of the proposed rule change is provided below.
(additions are italicized; deletions are [bracketed])
* * * * *
C2 Options Exchange, Incorporated Rules
* * * * *
Rule 6.15 Nullification and Adjustment of Options Transactions
Including Obvious Errors
* * * * *
.06 Verifiable Disruptions or Malfunctions of Exchange Systems:
Electronic transactions arising out of a ``verifiable disruption or
malfunction'' in the use or operation of any Exchange automated
quotation, dissemination, execution, or communication system will
either be nullified or adjusted by an Official. Transactions that
qualify for price adjustment will be adjusted to Theoretical Price,
as defined in paragraph (b) above.
* * * * *
The text of the proposed rule change is also available on the
Exchange's Web
[[Page 45007]]
site (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at
the Exchange's Office of the Secretary, and at the Commission's Public
Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant 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 is seeking to amend its rules related to obvious
errors. Specifically, the Exchange is seeking to add Interpretation and
Policy .06 to provide the Exchange the ability to nullify or adjust
transactions arising out of a verifiable disruption or malfunction of
Exchange systems.
Similar to Chicago Board Options Exchange, Inc. (``CBOE'') Rule
6.25.05, the proposed rule would allow an Exchange Official to nullify
or adjust a transaction that arises out of a verifiable disruption or
malfunction in the use or operation of any Exchange automated
quotation, dissemination, execution, or communication system.\3\ For
example, if a malfunctioning exchange system caused orders to be
generated and executed without instructions from a Trading Permit
Holder, the proposed rule would allow the Exchange to nullify the
transactions. Transactions that qualify for price adjustment will be
adjusted to Theoretical Price, as defined in paragraph (b) of Rule
6.15.
---------------------------------------------------------------------------
\3\ The proposed rule removes reference to open outcry as C2 is
an all-electronic exchange.
---------------------------------------------------------------------------
The Exchange believes that it is appropriate to provide the
flexibility and authority provided for in the proposed rule so as not
to limit the Exchange's ability to plan for and respond to unforeseen
systems problems or malfunctions. The proposed rule change would
provide the Exchange with the same authority that other Exchanges have
to nullify or adjust trades in the event of a ``verifiable disruption
or malfunction'' in the use or operation of its systems.\4\ For this
reason, the Exchange believes that, in the interest of maintaining a
fair and orderly market and for the protection of investors, authority
to nullify or adjust trades in these circumstances, consistent with the
authority on other exchanges, is warranted.
---------------------------------------------------------------------------
\4\ See CBOE Rule 6.25.05, NASDAQ OMX PHLX, LLC (``Phlx'') Rule
1092(k) and NYSE Arca, Inc. (``Arca'') Rule 6.89.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\5\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \6\ requirements that the rules of an exchange 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 regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \7\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
\7\ Id.
---------------------------------------------------------------------------
In particular, the Exchange believes that the proposed rule change
would remove impediments to and perfect the mechanism of a free and
open market and national market system and promote a fair and orderly
market because it would provide authority for the Exchange to nullify
or adjust trades that may have resulted from a verifiable systems
disruption or malfunction. The Exchange believes that it is appropriate
to provide the flexibility and authority provided for in the proposed
rule so as not to limit the Exchange's ability to plan for and respond
to unforeseen systems problems or malfunctions that may result in harm
to the public. Allowing for the nullification or modification of
transactions that result from verifiable disruptions and/or
malfunctions of Exchanges systems will offer market participants on C2
a level of relief presently not available. The Exchange notes that the
proposed rule change is based on CBOE rules and is substantially
similar to rules of Phlx, and Arca.
B. Self-Regulatory Organization's Statement on Burden on Competition
C2 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. Rather, the Exchange believes
that the proposed rule change is pro-competitive because it will align
the Exchange's rules with the rules of other markets, including CBOE,
Arca, and Phlx. By adopting the proposed rule, the Exchange will be in
a position to treat transactions that are a result of a verifiable
systems issue or malfunction in a manner similar to other exchanges.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not:
A. Significantly affect the protection of investors or the public
interest;
B. impose any significant burden on competition; and
C. become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, it has
become effective pursuant to Section 19(b)(3)(A) of the Act \8\ and
Rule 19b-4(f)(6) \9\ thereunder. 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 will institute proceedings to determine whether the proposed
rule change should be approved or disapproved.
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\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and the text of 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.
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[[Page 45008]]
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 (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-C2-2015-018 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-C2-2015-018. 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 (https://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-C2-2015-018, and should be
submitted on or before August 18, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18538 Filed 7-27-15; 8:45 am]
BILLING CODE P
