Sunshine Act Meeting, 55128 [2013-22040]
Download as PDF
55128
Federal Register / Vol. 78, No. 174 / Monday, September 9, 2013 / Notices
disclosures, discussed above,14 should
also help LMMs’ customers understand
the Program’s effect on LMMs’
incentives and thus will help investors
to make informed decisions in light of
the additional incentives LMMs may
have in providing quotes for these
securities.
Conclusion
It is therefore ordered, that BrokerDealer APs and Non-AP Broker-Dealers
that participate in the Incentive
Program, may rely on the SIA
Exemption pertaining to Section
11(d)(1) and Rule 11d1–2 thereunder,15
subject to the conditions provided in
that exemption, notwithstanding that
Broker-Dealer APs and Non-AP BrokerDealers may receive LMM Payments for
participating in the Incentive Program
as described in your request.
This exemption will expire when the
Incentive Program terminates, and is
subject to modification or revocation at
any time the Commission determines
that such action is necessary or
appropriate in furtherance of the
purposes of the Exchange Act.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–21816 Filed 9–6–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
tkelley on DSK3SPTVN1PROD with NOTICES
the Exchange’s Office of the Secretary,
and at the Commission’s Public
Reference Room.
Dated: September 5, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013–22040 Filed 9–5–13; 4:15 pm]
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
1. Purpose
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70301; File No. SR–C2–
2013–032]
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to the Options
Regulatory Fee
September 3, 2013.
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, September 12, 2013 at
2:00 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), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the Closed
Meeting.
note 10, supra.
note 4, supra.
16 17 CFR 200.30–3(a)(62).
Commissioner Piwowar, as duty
officer, voted to consider the items
listed for the Closed Meeting in a 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.
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 August
21, 2013, C2 Options Exchange,
Incorporated filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
C2 Options Exchange, Incorporated
(the ‘‘Exchange’’ or ‘‘C2’’) proposes to
amend the Options Regulatory Fee. The
text of the proposed rule change is
available on the Exchange’s Web site
(https://www.c2exchange.com/Legal/), at
14 See
15 See
VerDate Mar<15>2010
15:01 Sep 06, 2013
1 15
2 17
Jkt 229001
PO 00000
U.S.C.78s(b)(1).
CFR 240.19b–4.
Frm 00077
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, 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.
The Exchange has reevaluated the
current amount of the Options
Regulatory Fee (‘‘ORF’’) in light of better
than expected trading volume so far in
2013 among other factors. In order to try
to ensure that revenue collected from
the ORF, in combination with other
regulatory fees and fines, does not
exceed the Exchange’s total regulatory
costs, the Exchange proposes to reduce
the ORF from $.002 per contract to zero.
The proposed fee change would be
operative on September 1, 2013. The
Exchange intends to reevaluate the
amount of the ORF again in connection
with its annual budget review.
The ORF is assessed by the Exchange
to each Permit Holder for all options
transactions executed or cleared by the
Permit Holder that are cleared by The
Options Clearing Corporation (‘‘OCC’’)
in the customer range (i.e., transactions
that clear in a customer account at OCC)
regardless of the marketplace of
execution. In other words, the Exchange
imposes the ORF on all customer-range
transactions executed by a Permit
Holder, even if the transactions do not
take place on the Exchange.3 The ORF
also is charged for transactions that are
not executed by a Permit Holder but are
ultimately cleared by a Permit Holder.
3 Exchange rules require each Permit Holder to
record the appropriate account origin code on all
orders at the time of entry in order to allow the
Exchange to properly prioritize and route orders
and assess transaction fees pursuant to the rules of
the Exchange and report resulting transactions to
the OCC. C2 order origin codes are defined in C2
Regulatory Circular RG13–015. The Exchange
represents that it has surveillances in place to verify
that Trading Permit Holders mark orders with the
correct account origin code.
E:\FR\FM\09SEN1.SGM
09SEN1
Agencies
[Federal Register Volume 78, Number 174 (Monday, September 9, 2013)]
[Notices]
[Page 55128]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-22040]
-----------------------------------------------------------------------
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,
September 12, 2013 at 2:00 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), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matters at the Closed Meeting.
Commissioner Piwowar, as duty officer, voted to consider the items
listed for the Closed Meeting in a 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: September 5, 2013.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2013-22040 Filed 9-5-13; 4:15 pm]
BILLING CODE 8011-01-P