Self-Regulatory Organizations; the NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update Public Disclosure of Exchange Usage of Market Data, 26844-26846 [2016-10371]
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26844
Federal Register / Vol. 81, No. 86 / Wednesday, May 4, 2016 / Notices
portions of the filing can be accessed via
the Commission’s Web site (https://
www.prc.gov).
The Commission appoints Katalin K.
Clendenin to serve as Public
Representative in this docket.
III. Ordering Paragraphs
It is ordered:
1. The Commission establishes Docket
No. CP2016–157 for consideration of the
matters raised by the Postal Service’s
Notice.
2. Pursuant to 39 U.S.C. 505, Katalin
K. Clendenin 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
May 6, 2016.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Ruth Ann Abrams,
Acting Secretary.
[FR Doc. 2016–10447 Filed 5–3–16; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
the issues contested. Persons who wish
to be notified of a hearing may request
notification by writing to the
Commission’s Secretary.
The Commission: Secretary,
U.S. Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
ADDRESSES:
HaeSung Lee, Attorney-Adviser, at (202)
551–7345 or Chief Counsel’s Office at
(202) 551–6821; SEC, Division of
Investment Management, Chief
Counsel’s Office, 100 F Street NE.,
Washington, DC 20549–8010.
FOR FURTHER INFORMATION CONTACT:
Goldman Sachs Municipal Opportunity
Fund [File No. 811–22248]
Summary: Applicant, a closed-end
investment company, seeks an order
declaring that it has ceased to be an
investment company. Applicant has
never made a public offering of its
securities and does not propose to make
a public offering or engage in business
of any kind.
Filing Dates: The application was
filed on March 21, 2016 and amended
on March 28, 2016.
Applicant’s Address: 71 South
Wacker Drive, Chicago, Illinois 60606.
[Release No. IC–32099]
Gottex Trust [File No. 811–22889]
Notice of Applications for
Deregistration Under Section 8(f) of the
Investment Company Act of 1940
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On March 4, 2016,
applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of $93,525
incurred in connection with the
liquidation were paid by applicant and
applicant’s investment adviser.
Filing Date: The application was filed
on April 4, 2016.
Applicant’s Address: One Boston
Place, Suite 2600, 201 Washington St.,
Boston, Massachusetts 02109.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
April 29, 2016.
The following is a notice of
applications for deregistration under
section 8(f) of the Investment Company
Act of 1940 for the month of April 2016.
A copy of each application may be
obtained via the Commission’s Web site
by searching for the file number, or for
an applicant using the Company name
box, at https://www.sec.gov/search/
search.htm or by calling (202) 551–
8090. An order granting each
application will be issued unless the
SEC orders a hearing. Interested persons
may request a hearing on any
application by writing to the SEC’s
Secretary at the address below and
serving the relevant applicant with a
copy of the request, personally or by
mail. Hearing requests should be
received by the SEC by 5:30 p.m. on
May 24, 2016, and should be
accompanied by proof of service on
applicants, in the form of an affidavit or,
for lawyers, a certificate of service.
Pursuant to Rule 0–5 under the Act,
hearing requests should state the nature
of the writer’s interest, any facts bearing
upon the desirability of a hearing on the
matter, the reason for the request, and
VerDate Sep<11>2014
18:44 May 03, 2016
Jkt 238001
The Hartford Alternative Strategies
Fund [File No. 811–22610]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On November 23,
2015, applicant made a liquidating
distribution to its shareholders, based
on net asset value. Expenses of
approximately $35,000 incurred in
connection with the liquidation were
paid by applicant’s investment adviser.
Filing Date: The application was filed
on April 7, 2016.
Applicant’s Address: 5 Radnor
Corporate Center, Suite 300, 100
Matsonford Road, Radnor, Pennsylvania
19087.
PO 00000
Frm 00072
Fmt 4703
Sfmt 4703
Cheswold Lane Funds [File No. 811–
21891]
Summary: Applicant seeks an order
declaring that it has ceased to be an
investment company. On February 29,
2016, applicant made a liquidating
distribution to its sole remaining
shareholder, based on net asset value.
Applicant incurred no expenses in
connection with the liquidation.
Filing Dates: The application was
filed on April 1, 2016 and amended on
April 27, 2016.
Applicant’s Address: 100 Front Street,
Suite 960, West Conshohocken,
Pennsylvania 19428.
For the Commission, by the Division
of Investment Management, pursuant to
delegated authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10438 Filed 5–3–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77737; File No. SR–
NASDAQ–2016–060]
Self-Regulatory Organizations; the
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Update
Public Disclosure of Exchange Usage
of Market Data
April 28, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 26,
2016, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ or ‘‘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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to update
Exchange Rule 4759 and to amend the
public disclosure of the sources of data
that the Exchange utilizes when
performing (1) order handling and
execution; (2) order routing; and (3)
related compliance processes.
The text of the proposed rule change
is below. Proposed new language is
1
2
15 U.S.C. 78s(b)(1).
17 CFR 240.19b–4.
E:\FR\FM\04MYN1.SGM
04MYN1
Federal Register / Vol. 81, No. 86 / Wednesday, May 4, 2016 / Notices
italicized and deleted language is
bracketed.
*
*
*
*
*
4759. Data Feeds Utilized
26845
The NASDAQ System utilizes the
below proprietary and network
processor feeds for the handling,
routing, and execution of orders, as well
as for the regulatory compliance
processes related to those functions. The
Secondary Source of data is, where
applicable, utilized only in emergency
market conditions and only until those
emergency conditions are resolved.
Market center
Primary source
Secondary source
A—NYSE MKT (AMEX) ....................................
B—NASDAQ OMX BX ......................................
C—NSX .............................................................
D—FINRA ADF .................................................
J—DirectEdge A ................................................
K—DirectEdge X ...............................................
M—[CSX]CHX ...................................................
N—NYSE ...........................................................
P—NYSE Arca ..................................................
T/Q—NASDAQ ..................................................
X—NASDAQ OMX PSX ....................................
Y—BATS Y-Exchange .......................................
Z—BATS Exchange ..........................................
NYSE MKT OpenBook Ultra ............................
BX ITCH 5.0 .....................................................
CQS/UQDF .......................................................
CQS/UQDF .......................................................
BATS PITCH ....................................................
BATS PITCH ....................................................
[CQS/UQDF]CHX Book Feed ..........................
NYSE OpenBook Ultra .....................................
NYSE ARCA XDP ............................................
ITCH 5.0 ...........................................................
PSX ITCH 5.0 ...................................................
BATS PITCH ....................................................
BATS PITCH ....................................................
CQS/UQDF
CQS/UQDF
n/a
n/a
CQS/UQDF
CQS/UQDF
[n/a]CQS/UQDF
CQS/UQDF
CQS/UQDF
CQS/UQDF
CQS/UQDF
CQS/UQDF
CQS/UQDF
*
2. Statutory Basis
the public interest because it provides
additional specificity, clarity and
transparency.
*
*
*
*
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 the
Statutory Basis for, the Proposed Rule
Change
asabaliauskas on DSK3SPTVN1PROD with NOTICES
1. Purpose
The Exchange proposes to update and
amend the table in Exchange Rule 4759
that sets forth on a market-by-market
basis the specific network processor and
proprietary data feeds that the Exchange
utilizes for the handling, routing, and
execution of orders, and for performing
the regulatory compliance checks
related to each of those functions.
Specifically, the table will be
amended to update the symbol for the
Chicago Stock Exchange, Inc. from
‘‘CSX’’ to ‘‘CHX’’, as well as to update
the primary and secondary sources in
the table for CHX. The primary source
will be CHX Book Feed and the former
primary source, CQS/UQDF, will
become the secondary source. The
change to the primary source reflects the
Exchange’s effort to increase the amount
of data it gathers.
VerDate Sep<11>2014
18:44 May 03, 2016
Jkt 238001
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,3
in general and with Sections [sic] 6(b)(5)
of the Act,4 in particular in that 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
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
The Exchange believes that its
proposal to amend the table in Exchange
Rule 4759 to update the symbol for the
Chicago Stock Exchange, Inc. and to
amend the primary and secondary
sources of data for CHX that the
Exchange utilizes when performing (1)
order handling and execution; (2) order
routing; and (3) related compliance
processes will ensure that Exchange
Rule 4759 correctly identifies and
publicly states on a market-by-market
basis all of the specific network
processor and proprietary data feeds
that the Exchange utilizes for the
handling, routing, and execution of
orders, and for performing the
regulatory compliance checks related to
each of those functions. The Exchange
also believes that the proposed rule
change removes impediments to and
perfects the mechanism of a free and
open market and protects investors and
3
4
PO 00000
15 U.S.C. 78f.
15 U.S.C. 78f(b)(5).
Frm 00073
Fmt 4703
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
To the contrary, the Exchange believes
the proposal will enhance competition
because including all of the correct
information for the exchanges enhances
transparency and enables investors to
better assess the quality of the
Exchange’s execution and routing
services.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
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) 5 of the Act and Rule 19b–
4(f)(6) thereunder.6
15 U.S.C. 78s(b)(3)(A).
17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
5
6
Continued
Sfmt 4703
E:\FR\FM\04MYN1.SGM
04MYN1
26846
Federal Register / Vol. 81, No. 86 / Wednesday, May 4, 2016 / Notices
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: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) otherwise in
furtherance of the purposes of the Act.
If the Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–NASDAQ–2016–060 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NASDAQ–2016–060. 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 the
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.
VerDate Sep<11>2014
18:44 May 03, 2016
Jkt 238001
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–
NASDAQ–2016–060, and should be
submitted on or before May 25, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10371 Filed 5–3–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77736; File No. SR–
NASDAQ–2016–058]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Nasdaq Rule 7023
April 28, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 18,
2016, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
a proposed rule change as described in
Items I, II and III 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
Nasdaq is proposing to amend Nasdaq
Rule 7023 (NASDAQ Depth-of-Book
Data) to remove free top-of-file (‘‘Top-ofFile’’) data from Nasdaq OpenView.
The text of the proposed rule change
is available at
nasdaq.cchwallstreet.com, at Nasdaq’s
principal office, and at the
Commission’s Public Reference Room.
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00074
Fmt 4703
Sfmt 4703
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Nasdaq 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
Nasdaq Rule 7023 (NASDAQ Depth-ofBook Data). Currently, Nasdaq does not
charge a fee for use of Nasdaq
OpenView Top-of-File data that is
created using Nasdaq OpenView. Topof-File data consists of Nasdaq’s
aggregate best bid and offer quotation
for each security listed on an exchange
other than Nasdaq. Vendors can create
Top-of-File data from Nasdaq OpenView
and offer it to both professionals and
non-professionals either for display or
non-display.
The Exchange proposes to keep Topof-File data as part of Nasdaq
OpenView, but to no longer provide for
free the use of this data (e.g., a
subscriber of Nasdaq OpenView may no
longer create a Top-of-File data product
and provide it for free to other market
participants). All market participants
that opt to receive Nasdaq OpenView
and create a Top-of-File data product
from it will be liable for the Nasdaq
OpenView fee rate applicable to NonProfessional Subscribers 3 or
Professional Subscribers,4 as
appropriate. The monthly fee is
3 See Nasdaq Rule 7023(a)(3)(A). This rule defines
a Non-Professional Subscriber as a natural person
who is not: (1) Registered or qualified in any
capacity with the Commission, the Commodity
Futures Trading Commission, any state securities
agency, any securities exchange or association, or
any commodities or futures contract market or
association; (2) engaged as an ‘‘investment adviser’’
as that term is defined in Section 201(11) of the
Investment Advisers Act of 1940 (whether or not
registered or qualified under that Act); or (3)
employed by a bank or other organization exempt
from registration under federal or state securities
laws to perform functions that would require
registration or qualification if such functions were
performed for an organization not so exempt.
4 See Nasdaq Rule 7023(a)(3)(B). This rule defines
a Professional Subscriber as any subscriber other
than a ‘‘Non-Professional Subscriber,’’ as that term
is defined in Nasdaq Rule 7023(a)(3)(A).
E:\FR\FM\04MYN1.SGM
04MYN1
]]>Agencies
[Federal Register Volume 81, Number 86 (Wednesday, May 4, 2016)]
[Notices]
[Pages 26844-26846]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10371]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77737; File No. SR-NASDAQ-2016-060]
Self-Regulatory Organizations; the NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Update Public Disclosure of Exchange Usage of Market Data
April 28, 2016.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on April 26, 2016, The NASDAQ Stock Market LLC (``Nasdaq'' or
``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
The Exchange proposes to update Exchange Rule 4759 and to amend the
public disclosure of the sources of data that the Exchange utilizes
when performing (1) order handling and execution; (2) order routing;
and (3) related compliance processes.
The text of the proposed rule change is below. Proposed new
language is
[[Page 26845]]
italicized and deleted language is bracketed.
* * * * *
4759. Data Feeds Utilized
The NASDAQ System utilizes the below proprietary and network
processor feeds for the handling, routing, and execution of orders, as
well as for the regulatory compliance processes related to those
functions. The Secondary Source of data is, where applicable, utilized
only in emergency market conditions and only until those emergency
conditions are resolved.
------------------------------------------------------------------------
Market center Primary source Secondary source
------------------------------------------------------------------------
A--NYSE MKT (AMEX).............. NYSE MKT OpenBook CQS/UQDF
Ultra.
B--NASDAQ OMX BX................ BX ITCH 5.0....... CQS/UQDF
C--NSX.......................... CQS/UQDF.......... n/a
D--FINRA ADF.................... CQS/UQDF.......... n/a
J--DirectEdge A................. BATS PITCH........ CQS/UQDF
K--DirectEdge X................. BATS PITCH........ CQS/UQDF
M--[CSX]CHX..................... [CQS/UQDF]CHX Book [n/a]CQS/UQDF
Feed.
N--NYSE......................... NYSE OpenBook CQS/UQDF
Ultra.
P--NYSE Arca.................... NYSE ARCA XDP..... CQS/UQDF
T/Q--NASDAQ..................... ITCH 5.0.......... CQS/UQDF
X--NASDAQ OMX PSX............... PSX ITCH 5.0...... CQS/UQDF
Y--BATS Y-Exchange.............. BATS PITCH........ CQS/UQDF
Z--BATS Exchange................ BATS PITCH........ CQS/UQDF
------------------------------------------------------------------------
* * * * *
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to update and amend the table in Exchange
Rule 4759 that sets forth on a market-by-market basis the specific
network processor and proprietary data feeds that the Exchange utilizes
for the handling, routing, and execution of orders, and for performing
the regulatory compliance checks related to each of those functions.
Specifically, the table will be amended to update the symbol for
the Chicago Stock Exchange, Inc. from ``CSX'' to ``CHX'', as well as to
update the primary and secondary sources in the table for CHX. The
primary source will be CHX Book Feed and the former primary source,
CQS/UQDF, will become the secondary source. The change to the primary
source reflects the Exchange's effort to increase the amount of data it
gathers.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general and with
Sections [sic] 6(b)(5) of the Act,\4\ in particular in that 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
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that its proposal to amend the table in
Exchange Rule 4759 to update the symbol for the Chicago Stock Exchange,
Inc. and to amend the primary and secondary sources of data for CHX
that the Exchange utilizes when performing (1) order handling and
execution; (2) order routing; and (3) related compliance processes will
ensure that Exchange Rule 4759 correctly identifies and publicly states
on a market-by-market basis all of the specific network processor and
proprietary data feeds that the Exchange utilizes for the handling,
routing, and execution of orders, and for performing the regulatory
compliance checks related to each of those functions. The Exchange also
believes that the proposed rule change removes impediments to and
perfects the mechanism of a free and open market and protects investors
and the public interest because it provides additional specificity,
clarity and transparency.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. To
the contrary, the Exchange believes the proposal will enhance
competition because including all of the correct information for the
exchanges enhances transparency and enables investors to better assess
the quality of the Exchange's execution and routing services.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
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) \5\ of the Act and Rule 19b-
4(f)(6) thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(f)(6). 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.
---------------------------------------------------------------------------
[[Page 26846]]
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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-NASDAQ-2016-060 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-NASDAQ-2016-060. 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 the 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-NASDAQ-2016-060, and should
be submitted on or before May 25, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10371 Filed 5-3-16; 8:45 am]
BILLING CODE 8011-01-P
