Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Clarify That an Extranet Access Fee is Not Charged, 1906-1908 [2014-00211]
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Federal Register / Vol. 79, No. 7 / Friday, January 10, 2014 / Notices
Thus, the rule contains two filing and
recordkeeping requirements that
constitute collections of information.
First, rule 17d-1 requires funds that
wish to engage in a joint transaction or
arrangement with affiliates to meet the
procedural requirements for obtaining
exemptive relief from the rule’s
prohibition on joint transactions or
arrangements involving first- or secondtier affiliates. Second, rule 17d–1
permits a portfolio affiliate to enter into
a joint transaction or arrangement with
the fund if a prohibited participant has
a financial interest that the fund’s board
determines is not material and records
the basis for this finding in their
meeting minutes. These requirements of
rule 17d–1 are designed to prevent fund
insiders from managing funds for their
own benefit, rather than for the benefit
of the funds’ shareholders.
Based on an analysis of past filings,
Commission staff estimates that 13
funds file applications under section
17(d) and rule 17d–1 per year. The staff
understands that funds that file an
application generally obtain assistance
from outside counsel to prepare the
application. The cost burden of using
outside counsel is discussed below. The
Commission staff estimates that each
applicant will spend an average of 154
hours to comply with the Commission’s
applications process. The Commission
staff therefore estimates the annual
burden hours per year for all funds
under rule 17d–1’s application process
to be 2002 hours at a cost of $726,206.1
The Commission, therefore, requests
authorization to increase the inventory
of total burden hours per year for all
funds under rule 17d–1 from the current
authorized burden of 1232 hours to
2002 hours. The increase is due to an
increase in the number of funds that
filed applications for exemptions under
rule 17d–1.
As noted above, the Commission staff
understands that funds that file an
application under rule 17d–1 generally
use outside counsel to assist in
mstockstill on DSK4VPTVN1PROD with NOTICES
1 The
Commission staff estimates that a senior
executive, such as the fund’s chief compliance
officer, will spend an average of 62 hours and a
mid-level compliance attorney will spend an
average of 92 hours to comply with this collection
of information: 62 hours + 92 hours = 154 hours.
13 funds × 154 burden hours = 2002 burden hours.
The Commission staff estimate that the chief
compliance officer is paid $441 per hour and the
compliance attorney is paid $310 per hour. ($441
per hour × 62 hours) + ($310 per hour × 92 hours)
= $55,862 per fund. $55,862 × 13 funds = $726,206.
The $441 and $310 per hour figures are based on
salary information compiled by SIFMA’s
Management & Professional Earnings in the
Securities Industry, 2012. The Commission staff has
modified SIFMA’s information to account for an
1800-hour work year and multiplied by 5.35 to
account for bonuses, firm size, employee benefits,
and overhead.
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16:40 Jan 09, 2014
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preparing the application. The staff
estimates that, on average, funds spend
an additional $93,131 for outside legal
services in connection with seeking
Commission approval of affiliated joint
transactions. Thus, the staff estimates
that the total annual cost burden
imposed by the exemptive application
requirements of rule 17d–1 is
$1,210,703.2
We estimate that funds currently do
not rely on the exemption from the term
‘‘financial interest’’ with respect to any
interest that the fund’s board of
directors (including a majority of the
directors who are not interested persons
of the fund) finds to be not material.
Accordingly, we estimate that annually
there will be no transactions under rule
17d–1 that will result in this aspect of
the collection of information.
Based on these calculations, the total
annual hour burden is estimated to be
2002 hours and the total annual cost
burden is estimated to be $1,024,441.
The estimate of average burden hours
is made solely for the purposes of the
Paperwork Reduction Act. The estimate
is not derived from a comprehensive or
even a representative survey or study of
the costs of Commission rules.
Complying with these collections of
information requirement is necessary to
obtain the benefit of relying on rule
17d–1. Responses will not be kept
confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid OMB control number.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information will have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information collected; and (d) ways to
minimize the burden of the collection of
information on respondents, including
through the use of automated collection
techniques or other forms of information
technology. Consideration will be given
to comments and suggestions submitted
in writing within 60 days of this
publication.
Please direct your written comments
to Thomas Bayer, Chief Information
Officer, Securities and Exchange
Commission, C/O Remi Pavlik-Simon,
100 F Street NE., Washington, DC
20549; or send an email to: PRA_
Mailbox@sec.gov.
2 The estimate is based on the following
calculation: $93,131 × 13 funds = $1,210,703.
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Dated: January 6, 2014.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–00212 Filed 1–9–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–71236; File No. SR–PHLX–
2014–01]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Clarify That
an Extranet Access Fee is Not Charged
January 6, 2014.
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 January 2,
2014, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or the ‘‘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 the Substance
of the Proposed Rule Change
The Exchange proposes to clarify that
it does not charge an extranet access fee
(‘‘Extranet Access Fee’’).
The text of the proposed rule change
is below. Proposed new language is
italicized.
*
*
*
*
*
NASDAQ OMX PHLX LLC 1 PRICING
SCHEDULE
*
*
*
*
*
VIII. NASDAQ OMX PSX FEES
*
*
*
*
*
Market Data Distributor Fees
(a)–(c) No change.
Extranet Access
Extranet providers that establish a
connection with the Exchange to offer
direct access connectivity to market
data feeds shall not be assessed a
monthly access fee per recipient
Customer Premises Equipment (‘‘CPE’’)
Configuration. For purposes of this rule,
the term ‘‘Customer Premises
Equipment Configuration’’ shall mean
any line, circuit, router package, or
1 15
2 17
E:\FR\FM\10JAN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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Federal Register / Vol. 79, No. 7 / Friday, January 10, 2014 / Notices
other technical configuration used by an
extranet provider to provide a direct
access connection to Exchange market
data feeds to a recipient’s site.
Administrative Reports
No change.
*
*
*
*
*
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 proposing to clarify
that the Exchange does not charge an
Extranet Access Fee, unlike The
NASDAQ Stock Market LLC
(‘‘NASDAQ’’) 3 or NASDAQ OMX BX,
Inc. (‘‘BX’’) 4.
Specifically, the proposed rule change
provides that extranet providers that
establish a connection with the
Exchange to offer direct access
connectivity to market data feeds will
not be assessed a monthly access fee per
recipient Customer Premises Equipment
(‘‘CPE’’) Configuration.5
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 6 in general, and with Section
6(b)(5) of the Act,7 in particular. The
Exchange believes the proposal furthers
the objectives of Section 6(b)(5) of the
Act 8 in that it is designed to promote
just and equitable principles of trade, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
mstockstill on DSK4VPTVN1PROD with NOTICES
3 See
NASDAQ Rule 7025.
BX Rule 7025.
5 As defined in the proposed rule text, a
‘‘Customer Premises Equipment Configuration’’
means any line, circuit, router package, or other
technical configuration used by an extranet
provider to provide a direct access connection to
Exchange market data feeds to a recipient’s site.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
8 Id.
4 See
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general to protect investors and the
public interest and is not designed to
permit unfair discrimination between
customer, issuers, brokers and dealers.
The Exchange is proposing to add
clarifying language that states that
extranet providers that establish an
extranet connection with the Exchange
to access market data feeds from the
Exchange will not be subject to an
Extranet Access Fee. Accordingly, the
Exchange believes that it is consistent
with the protection of investors and the
public interest to avoid potential market
participant confusion that may be
caused by the omission of the proposed
rule text.
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.
The proposed rule change clarifies that
no fee is being instituted and this
applies across all extranet providers and
none are [sic] compelled to establish a
connection with the Exchange to offer
access connectivity to market data feeds.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor 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) of the Act 9 and
subparagraph (f)(6) of Rule 19b–4
thereunder.10
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b–4(f)(6)(iii),12 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
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
10 17
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1907
operative delay so that the proposal may
become operative immediately upon
filing. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest. The
proposed rule change presents no novel
issues. Waiver will allow the Exchange
to immediately clarify that it does not
charge an extranet access fee, thereby
reducing the potential for confusion. For
these reasons, the Commission hereby
waives the 30-day operative delay and
designates the proposal operative upon
filing.13
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) 14 of the Act 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:
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–PHLX–2014–01 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–PHLX–2014–01. 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
13 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).
14 15 U.S.C. 78s(b)(2)(B).
E:\FR\FM\10JAN1.SGM
10JAN1
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Federal Register / Vol. 79, No. 7 / Friday, January 10, 2014 / Notices
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
offices 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–PHLX–2014–01, and should be
submitted on or before January 31, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–00211 Filed 1–9–14; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF TRANSPORTATION
Federal Motor Carrier Safety
Administration
[Docket No. FMCSA–2013–0174]
Qualification of Drivers; Exemption
Applications; Vision
Federal Motor Carrier Safety
Administration (FMCSA), DOT.
ACTION: Notice of applications for
exemptions; request for comments.
AGENCY:
FMCSA announces receipt of
applications from 33 individuals for
exemption from the vision requirement
in the Federal Motor Carrier Safety
Regulations. They are unable to meet
the vision requirement in one eye for
various reasons. The exemptions would
enable these individuals to operate
commercial motor vehicles (CMVs) in
interstate commerce without meeting
the prescribed vision requirement in
one eye.
DATES: Comments must be received on
or before February 10, 2014.
mstockstill on DSK4VPTVN1PROD with NOTICES
SUMMARY:
15 17
CFR 200.30–3(a)(12).
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16:40 Jan 09, 2014
Jkt 232001
You may submit comments
bearing the Federal Docket Management
System (FDMS) Docket No. FMCSA–
2013–0174 using any of the following
methods:
• Federal eRulemaking Portal: Go to
https://www.regulations.gov. Follow the
on-line instructions for submitting
comments.
• Mail: Docket Management Facility;
U.S. Department of Transportation, 1200
New Jersey Avenue SE., West Building
Ground Floor, Room W12–140,
Washington, DC 20590–0001.
• Hand Delivery: West Building
Ground Floor, Room W12–140, 1200
New Jersey Avenue SE., Washington,
DC, between 9 a.m. and 5 p.m., Monday
through Friday, except Federal
Holidays.
• Fax: 1–202–493–2251.
Instructions: Each submission must
include the Agency name and the
docket numbers for this notice. Note
that all comments received will be
posted without change to https://
www.regulations.gov, including any
personal information provided. Please
see the Privacy Act heading below for
further information.
Docket: For access to the docket to
read background documents or
comments, go to https://
www.regulations.gov at any time or
Room W12–140 on the ground level of
the West Building, 1200 New Jersey
Avenue SE., Washington, DC between 9
a.m. and 5 p.m., Monday through
Friday, except Federal holidays. The
FDMS is available 24 hours each day,
365 days each year. If you want
acknowledgment that we received your
comments, please include a selfaddressed, stamped envelope or
postcard or print the acknowledgement
page that appears after submitting
comments on-line.
Privacy Act: Anyone may search the
electronic form of all comments
received into any of our dockets by the
name of the individual submitting the
comment (or of the person signing the
comment, if submitted on behalf of an
association, business, labor union, etc.).
You may review DOT’s Privacy Act
Statement for the Federal Docket
Management System (FDMS) published
in the Federal Register on January 17,
2008 (73 FR 3316).
FOR FURTHER INFORMATION CONTACT:
Elaine M. Papp, Chief, Medical
Programs Division, (202) 366–4001,
fmcsamedical@dot.gov, FMCSA,
Department of Transportation, 1200
New Jersey Avenue SE., Room W64–
224, Washington, DC 20590–0001.
Office hours are from 8:30 a.m. to 5
p.m., Monday through Friday, except
Federal holidays.
ADDRESSES:
PO 00000
Frm 00090
Fmt 4703
Sfmt 4703
SUPPLEMENTARY INFORMATION:
Background
Under 49 U.S.C. 31136(e) and 31315,
FMCSA may grant an exemption from
the Federal Motor Carrier Safety
Regulations for a 2-year period if it finds
‘‘such exemption would likely achieve a
level of safety that is equivalent to or
greater than the level that would be
achieved absent such exemption.’’
FMCSA can renew exemptions at the
end of each 2-year period. The 33
individuals listed in this notice have
each requested such an exemption from
the vision requirement in 49 CFR
391.41(b)(10), which applies to drivers
of CMVs in interstate commerce.
Accordingly, the Agency will evaluate
the qualifications of each applicant to
determine whether granting an
exemption will achieve the required
level of safety mandated by statute.
Qualifications of Applicants
Trawn L. Andrews
Mr. Andrews, age 32, has had
amblyopia in his right eye since birth.
The visual acuity in his right eye is 20/
50, and in his left eye, 20/20. Following
an examination in 2013, his optometrist
noted, ‘‘I certify that, in my medical
opinion, this patient has sufficient
vision to operate a commercial motor
vehicle.’’ Mr. Andrews reported that he
has driven straight trucks for 10 years,
accumulating 325,000 miles, and
tractor-trailer combinations for 10 years,
accumulating 325,000 miles. He holds a
Class A Commercial Driver’s License
(CDL) from North Carolina. His driving
record for the last 3 years shows one
crash, for which he was not cited and
to which he did not contribute, and no
convictions for moving violations in a
CMV.
Jeffery A. Benoit
Mr. Benoit, 30, has had amblyopia in
his left eye since childhood. The visual
acuity in his right eye is 20/15, and in
his left eye, 20/150. Following an
examination in 2013, his optometrist
noted, ‘‘In my optometric opinion,
Jeffrey [sic] Benoit has sufficient vision
to operate a commercial vehicle.’’ Mr.
Benoit reported that he has driven
tractor-trailer combinations for 7 years,
accumulating 147,000 miles. He holds a
Class A CDL from Vermont. His driving
record for the last 3 years shows no
crashes and no convictions for moving
violations in a CMV.
Norvan D. Brown
Mr. Brown, 61, has a prosthetic left
eye due to a traumatic incident in 2010.
The visual acuity in his right eye is 20/
20, and in his left eye, no light
E:\FR\FM\10JAN1.SGM
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]]>Agencies
[Federal Register Volume 79, Number 7 (Friday, January 10, 2014)]
[Notices]
[Pages 1906-1908]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-00211]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-71236; File No. SR-PHLX-2014-01]
Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Clarify
That an Extranet Access Fee is Not Charged
January 6, 2014.
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 January 2, 2014, NASDAQ OMX PHLX LLC (``Phlx'' or the ``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 the
Substance of the Proposed Rule Change
The Exchange proposes to clarify that it does not charge an
extranet access fee (``Extranet Access Fee'').
The text of the proposed rule change is below. Proposed new
language is italicized.
* * * * *
NASDAQ OMX PHLX LLC \1\ PRICING SCHEDULE
* * * * *
VIII. NASDAQ OMX PSX FEES
* * * * *
Market Data Distributor Fees
(a)-(c) No change.
Extranet Access
Extranet providers that establish a connection with the Exchange to
offer direct access connectivity to market data feeds shall not be
assessed a monthly access fee per recipient Customer Premises Equipment
(``CPE'') Configuration. For purposes of this rule, the term ``Customer
Premises Equipment Configuration'' shall mean any line, circuit, router
package, or
[[Page 1907]]
other technical configuration used by an extranet provider to provide a
direct access connection to Exchange market data feeds to a recipient's
site.
Administrative Reports
No change.
* * * * *
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 proposing to clarify that the Exchange does not
charge an Extranet Access Fee, unlike The NASDAQ Stock Market LLC
(``NASDAQ'') \3\ or NASDAQ OMX BX, Inc. (``BX'') \4\.
---------------------------------------------------------------------------
\3\ See NASDAQ Rule 7025.
\4\ See BX Rule 7025.
---------------------------------------------------------------------------
Specifically, the proposed rule change provides that extranet
providers that establish a connection with the Exchange to offer direct
access connectivity to market data feeds will not be assessed a monthly
access fee per recipient Customer Premises Equipment (``CPE'')
Configuration.\5\
---------------------------------------------------------------------------
\5\ As defined in the proposed rule text, a ``Customer Premises
Equipment Configuration'' means any line, circuit, router package,
or other technical configuration used by an extranet provider to
provide a direct access connection to Exchange market data feeds to
a recipient's site.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and with Section 6(b)(5) of the Act,\7\
in particular. The Exchange believes the proposal furthers the
objectives of Section 6(b)(5) of the Act \8\ in that it is designed to
promote just and equitable principles of trade, 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 and is not designed to permit unfair discrimination between
customer, issuers, brokers and dealers. The Exchange is proposing to
add clarifying language that states that extranet providers that
establish an extranet connection with the Exchange to access market
data feeds from the Exchange will not be subject to an Extranet Access
Fee. Accordingly, the Exchange believes that it is consistent with the
protection of investors and the public interest to avoid potential
market participant confusion that may be caused by the omission of the
proposed rule text.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
\8\ Id.
---------------------------------------------------------------------------
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. The
proposed rule change clarifies that no fee is being instituted and this
applies across all extranet providers and none are [sic] compelled to
establish a connection with the Exchange to offer access connectivity
to market data feeds.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor 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) of the Act \9\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\10\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b-4(f)(6)(iii),\12\ 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 Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest. The proposed rule
change presents no novel issues. Waiver will allow the Exchange to
immediately clarify that it does not charge an extranet access fee,
thereby reducing the potential for confusion. For these reasons, the
Commission hereby waives the 30-day operative delay and designates the
proposal operative upon filing.\13\
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\11\ 17 CFR 240.19b-4(f)(6).
\12\ 17 CFR 240.19b-4(f)(6)(iii).
\13\ 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).
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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) \14\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\14\ 15 U.S.C. 78s(b)(2)(B).
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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-PHLX-2014-01 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-PHLX-2014-01. 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
[[Page 1908]]
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 offices 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-PHLX-2014-01, and should be
submitted on or before January 31, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-00211 Filed 1-9-14; 8:45 am]
BILLING CODE 8011-01-P
