Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Amending Rule 6.72 To Make the Penny Pilot Program for Options Permanent, 64257 [2013-25291]

Download as PDF Federal Register / Vol. 78, No. 208 / Monday, October 28, 2013 / Notices is consistent with the protection of investors and the public interest. Therefore, the Commission hereby waives the 30-day operative delay and designates the proposal operative upon filing.14 At any time within 60 days of the filing of such 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 15 to determine whether the proposed rule change 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: 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– NYSEMKT–2013–83 and should be submitted on or before November 18, 2013. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2013–25292 Filed 10–25–13; 8:45 am] BILLING CODE 8011–01–P Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an email to rulecomments@sec.gov. Please include File Number SR–NYSEMKT–2013–83 on the subject line. wreier-aviles on DSK5TPTVN1PROD with NOTICES Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSEMKT–2013–83. 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 Commission, and all written communications relating to the proposed rule change between the 14 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 15 15 U.S.C. 78s(b)(2)(B). VerDate Mar<15>2010 14:52 Oct 25, 2013 Jkt 232001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–70733; File No. SR– NYSEArca–2013–42] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change Amending Rule 6.72 To Make the Penny Pilot Program for Options Permanent 64257 Section 19(b)(2) of the Act 5 provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should be disapproved. The 45th day for this filing is October 25, 2013. The Commission is extending this 45-day time period. The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change, which relates to the Penny Pilot Program, so that it has sufficient time to consider this proposed rule change, the Comment Letters that have been submitted in connection with this proposed rule change, and NYSE Arca’s forthcoming Response to the Comment Letters. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act,6 designates December 9, 2013, as the date by which the Commission should either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR–NYSEArca–2013–42). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Kevin M. O’Neill, Deputy Secretary. October 22, 2013. [FR Doc. 2013–25291 Filed 10–25–13; 8:45 am] On August 20, 2013, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend NYSE Arca Rule 6.72 to make permanent the penny program for options (‘‘Penny Pilot Program’’) permanent. The proposed rule change was published for comment in the Federal Register on September 10, 2013.3 The Commission received 8 comment letters on this proposal.4 BILLING CODE 8011–01–P 16 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 70317 (September 4, 2013), 78 FR 55312. 4 See Position Paper from Michael J. Simon, Secretary, International Securities Exchange, LLC (‘‘ISE’’), dated September 19, 2013; and letters to 1 15 PO 00000 Frm 00064 Fmt 4703 Sfmt 9990 Elizabeth M. Murphy, Secretary, Commission, from John M. Liftin, Managing Director and General Counsel, D.E. Shaw & Co., L.P., dated September 30, 2013; Michael J. Simon, Secretary, ISE, dated October 1, 2013; Benjamin R. Londergan, Chief Executive Officer, Group One Trading, L.P., dated October 1, 2013; Jenny L. Golding, Senior Attorney, Legal Division, Chicago Board Options Exchange, Incorporated, dated October 7, 2013; John C. Nagel, Managing Director and General Counsel, Citadel Securities, dated October 15, 2013; Michael J. Simon, Secretary, ISE, dated October 16, 2013; and Harris Bock, Chief Executive Officer, Dynamex Trading LLC, dated October 17, 2013 (collectively ‘‘Comment Letters’’). 5 15 U.S.C. 78s(b)(2). 6 15 U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(31). E:\FR\FM\28OCN1.SGM 28OCN1

Agencies

[Federal Register Volume 78, Number 208 (Monday, October 28, 2013)]
[Notices]
[Page 64257]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-25291]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70733; File No. SR-NYSEArca-2013-42]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change Amending Rule 6.72 To Make the Penny Pilot Program for Options 
Permanent

October 22, 2013.
    On August 20, 2013, NYSE Arca, Inc. (``NYSE Arca'' or the 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to amend NYSE Arca Rule 6.72 to make permanent the 
penny program for options (``Penny Pilot Program'') permanent. The 
proposed rule change was published for comment in the Federal Register 
on September 10, 2013.\3\ The Commission received 8 comment letters on 
this proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 70317 (September 4, 
2013), 78 FR 55312.
    \4\ See Position Paper from Michael J. Simon, Secretary, 
International Securities Exchange, LLC (``ISE''), dated September 
19, 2013; and letters to Elizabeth M. Murphy, Secretary, Commission, 
from John M. Liftin, Managing Director and General Counsel, D.E. 
Shaw & Co., L.P., dated September 30, 2013; Michael J. Simon, 
Secretary, ISE, dated October 1, 2013; Benjamin R. Londergan, Chief 
Executive Officer, Group One Trading, L.P., dated October 1, 2013; 
Jenny L. Golding, Senior Attorney, Legal Division, Chicago Board 
Options Exchange, Incorporated, dated October 7, 2013; John C. 
Nagel, Managing Director and General Counsel, Citadel Securities, 
dated October 15, 2013; Michael J. Simon, Secretary, ISE, dated 
October 16, 2013; and Harris Bock, Chief Executive Officer, Dynamex 
Trading LLC, dated October 17, 2013 (collectively ``Comment 
Letters'').
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is October 25, 2013. The Commission is 
extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change, which relates 
to the Penny Pilot Program, so that it has sufficient time to consider 
this proposed rule change, the Comment Letters that have been submitted 
in connection with this proposed rule change, and NYSE Arca's 
forthcoming Response to the Comment Letters.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates December 9, 2013, as the date by which the 
Commission should either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File No. SR-NYSEArca-2013-42).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-25291 Filed 10-25-13; 8:45 am]
BILLING CODE 8011-01-P