Self-Regulatory Organizations; NYSEArca, Inc.; Notice of Withdrawal of Proposed Rule Change Amending NYSE Arca Rule 6.72 To Make the Penny Pilot Program for Options Permanent, 71014-71015 [2013-28423]
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Federal Register / Vol. 78, No. 229 / Wednesday, November 27, 2013 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(ii) of the Act 13 and Rule
19b–4(f)(6) thereunder.14 Because the
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, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)
thereunder.15
A proposed rule change filed under
Rule 19b–4(f)(6) 16 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(ii),17 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest. The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange stated that this
proposal establishes rules that enhance
an existing test, which is designed to
ensure that securities in a halted state
are released in an orderly manner and
that there are no order imbalances in a
security emerging from a halt. In
addition, the Exchange stated that the
proposal is designed to protect market
participants from seemingly erroneous
pricing of securities for resumption of
trading. Thus, the Exchange believes
that it is in the interest of protecting
investors to provide the amended
process, which will eliminate the
possibility of such a disruption, at the
earliest time possible. For these reasons,
the Commission believes that waiving
the 30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission designates the proposed
rule change to be operative upon
filing.18
13 15
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires the Exchange to give the
Commission written notice of the Exchange’s intent
to file the proposed rule change, along with a brief
description and 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.
15 17 CFR 240.19b–4(f)(6)(ii).
16 17 CFR 240.19b–4(f)(6).
17 17 CFR 240.19b–4(f)(6)(ii).
18 For purposes only of waiving the 30-day
operative delay, the Commission has also
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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
under Section 19(b)(2)(B) 19 of the Act to
determine whether the proposed rule
should be approved or disapproved.
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–2013–143 and should be
submitted on or before December 18,
2013.
IV. Solicitation of Comments
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Kevin M. O’Neill,
Deputy Secretary.
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–2013–143 on the subject line.
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–NASDAQ–2013–143. 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
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
19 15 U.S.C. 78s(b)(2)(B).
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[FR Doc. 2013–28416 Filed 11–26–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70918; File No. SR–
NYSEArca–2013–42]
Self-Regulatory Organizations;
NYSEArca, Inc.; Notice of Withdrawal
of Proposed Rule Change Amending
NYSE Arca Rule 6.72 To Make the
Penny Pilot Program for Options
Permanent
November 21, 2013.
I. Introduction
On August 20, 2013, NYSEArca, Inc.
(‘‘NYSEArca’’ 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 NYSEArca Rule 6.72
to make permanent the penny quoting
program for options (‘‘Penny Trading
Program’’ or ‘‘Program’’). The proposed
rule change was published for comment
in the Federal Register on September
10, 2013.3 The Commission received 11
comment letters on this proposal.4 On
20 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,
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,
1 15
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Federal Register / Vol. 78, No. 229 / Wednesday, November 27, 2013 / Notices
October 22, 2013, the Commission
extended to December 9, 2013, the time
period in which to approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether to
disapprove the proposed rule change.5
On November 20, 2013, NYSEArca
withdrew the proposed rule change
(SR–NYSEArca–2013–42).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–28423 Filed 11–26–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–70917; File No. SR–CME–
2013–24]
Self-Regulatory Organizations;
Chicago Mercantile Exchange Inc.;
Notice of Filing of Proposed Rule
Change Regarding the Designation of
a Primary Backup Data Center
November 21, 2013.
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 November
15, 2013, Chicago Mercantile Exchange
Inc. (‘‘CME’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change described in Items I, II and III,
below, which items have been prepared
primarily by CME. The Commission is
publishing this notice to solicit
comments on the proposed rule change
for interested persons.
emcdonald on DSK67QTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CME proposes to activate its New
York Data Center (‘‘1NE Data Center’’) as
its primary backup data center. The 1NE
Data Center currently operates in part as
a tertiary data center for CME. The 1NE
Managing Director and General Counsel, Citadel
Securities, dated October 15, 2013; Michael J.
Simon, Secretary, ISE, dated October 16, 2013;
Harris Bock, Chief Executive Officer, Dynamex
Trading LLC, dated October 17, 2013; Jeffrey
Kaufman, Managing Partner, Lakeshore Securities
LP, dated October 25, 2013; Gerald D. O’Connell,
Chief Compliance Officer, Susquehanna
International Group, LLP, dated October 30, 2013;
and Ronald M Pittelkau, MNR Executions, LLC,
dated November 7, 2013.
5 See Securities Exchange Act Release No. 70733,
78 FR 64257 (October 28, 2013).
6 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
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Data Center will be redesigned and
become the primary backup data center
in place of CME’s current backup data
center, the Remote Data Center (‘‘RDC’’).
The proposed change does not involve
any changes to CME’s rulebook.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CME included statements concerning
the purpose 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. CME 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
As a derivatives clearing organization
(‘‘DCO’’) registered with the Commodity
Futures Trading Commission (‘‘CFTC’’),
CME has an obligation to establish and
maintain a business continuity and
disaster recovery plan. The procedures
associated with this plan are intended to
ensure that CME has sufficient physical,
technological and personnel resources
to enable the timely recovery and
resumption of operations following
disruptions. Maintaining backup data
centers is one component of these
procedures.
With this filing, CME proposes to
activate its New York Data Center (‘‘1NE
Data Center’’) as its primary backup data
center. The 1NE Data Center currently
operates in part as a tertiary data center
for CME. The 1NE Data Center will be
redesigned and will become the primary
backup data center in place of CME’s
current backup data center, the Remote
Data Center (‘‘RDC’’). The 1NE Data
Center will be an ‘‘all disaster recovery
data center’’ housing the primary backup for electronic trading, clearing, and
regulatory infrastructures. It will also
continue to house CME’s New York
trading floor and office staff systems as
well.
CME believes the proposed change
will increase the reliability and security
of its backup facilities. First, the new
back-up facility is located in a distinct
geographic area from CME’s primary
facility and therefore CME Group would
have capabilities to mitigate risks
associated with a large scale disruption
associated with only one geographical
area (for example, a weather event). In
addition, because CME Group’s new
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71015
datacenter strategy employs single IP
connectivity, customers will no longer
have to change their configurations or
take any additional steps to connect to
the backup datacenter and therefore the
switch from CME Group’s production to
back-up data center will be seamless for
CME Group’s customers.
CME believes that implementation of
the proposed change will therefore
allow it to continue to maintain a robust
and effective business continuity
program. The proposed change does not
involve any changes to CME’s rulebook.
CME currently plans to operationalize
the new 1 NE Data Center as soon as all
required regulatory approvals are
obtained. CME is currently making
preparations to implement the change as
of November 25, 2013. CME notes that
it has also submitted the proposed
changes to the CFTC in a separate filing,
CME Submission 13–379, as an
‘‘Advance Notice’’ filing pursuant to
CFTC Regulation 40.10(a).
CME believes the proposed rule
changes are consistent with the
requirements of the Act including
Section 17A of the Act.3 The proposed
rule changes involve enhancements to
CME’s business continuity and disaster
recovery plan procedures and, as such,
are designed to promote the prompt and
accurate clearance and settlement of
securities transactions and, to the extent
applicable, derivatives agreements,
contracts, and transactions, to assure the
safeguarding of securities and funds
which are in the custody or control of
the clearing agency or for which it is
responsible, and, in general, to protect
investors and the public interest
consistent with Section 17A(b)(3)(F) of
the Act.4 The proposed rule changes
designate a new location as CME’s
primary backup data center in the event
of a disruption. The area that is
proposed to be designated as the new
back-up area currently operates as a
tertiary data center for CME. This
proposed new back-up facility is not
located near CME’s primary facilities.
This means that CME will be able to
mitigate risks associated with a large
scale disruption associated with only
one geographical area (for example, a
weather event). In addition, because
CME’s new datacenter strategy employs
single IP connectivity, customers will
no longer have to change their
configurations or take any additional
steps to connect to the backup
datacenter and therefore the switch from
CME’s production to back-up data
center will be seamless for CME’s
customers. Further, the new backup
3 15
4 15
E:\FR\FM\27NON1.SGM
U.S.C. 78q–1.
U.S.C. 78q–1(b)(3)(F).
27NON1
]]>Agencies
[Federal Register Volume 78, Number 229 (Wednesday, November 27, 2013)]
[Notices]
[Pages 71014-71015]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-28423]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-70918; File No. SR-NYSEArca-2013-42]
Self-Regulatory Organizations; NYSEArca, Inc.; Notice of
Withdrawal of Proposed Rule Change Amending NYSE Arca Rule 6.72 To Make
the Penny Pilot Program for Options Permanent
November 21, 2013.
I. Introduction
On August 20, 2013, NYSEArca, Inc. (``NYSEArca'' 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 NYSEArca Rule 6.72 to make permanent the
penny quoting program for options (``Penny Trading Program'' or
``Program''). The proposed rule change was published for comment in the
Federal Register on September 10, 2013.\3\ The Commission received 11
comment letters on this proposal.\4\ On
[[Page 71015]]
October 22, 2013, the Commission extended to December 9, 2013, the time
period in which to approve the proposed rule change, disapprove the
proposed rule change, or institute proceedings to determine whether to
disapprove the proposed rule change.\5\
---------------------------------------------------------------------------
\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, 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; Harris Bock, Chief Executive Officer, Dynamex Trading LLC,
dated October 17, 2013; Jeffrey Kaufman, Managing Partner, Lakeshore
Securities LP, dated October 25, 2013; Gerald D. O'Connell, Chief
Compliance Officer, Susquehanna International Group, LLP, dated
October 30, 2013; and Ronald M Pittelkau, MNR Executions, LLC, dated
November 7, 2013.
\5\ See Securities Exchange Act Release No. 70733, 78 FR 64257
(October 28, 2013).
---------------------------------------------------------------------------
On November 20, 2013, NYSEArca withdrew the proposed rule change
(SR-NYSEArca-2013-42).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-28423 Filed 11-26-13; 8:45 am]
BILLING CODE 8011-01-P
