Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Price List To Increase the Fee for Executions in New York Stock Exchange Crossing Session II, 7271-7273 [2014-02499]
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Federal Register / Vol. 79, No. 25 / Thursday, February 6, 2014 / Notices
discriminatory to limit higher credits for
MPL Orders for which market
participants may otherwise qualify
because it will ensure that all market
participants pay the same fees and
receive the same credits regardless of
Floor broker, DMM, or SLP designation.
The Exchange believes that it is
reasonable to allow MPL Orders to
count toward adding liquidity because it
is consistent with the purpose of those
credits. The Exchange also believes it is
equitable and not unfairly
discriminatory because all market
participants that use the MPL Order
type will pay the same fee and receive
the same credit.
mstockstill on DSK4VPTVN1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,9 the Exchange does not believe
that the proposed rule change will
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
The Exchange believes the proposed
MPL Order fees and credits will
enhance order execution opportunities
for member organizations. Further, the
Exchange believes that providing the
same fees and credits for MPL Orders
that would otherwise apply will
enhance competition between the
Exchange and other exchanges that
currently offer similar order types by
offering investors another option to
access liquidity at the midpoint of the
PBBO.
Finally, the Exchange notes that it
operates in a highly competitive market
in which market participants can
readily favor competing venues if they
deem fee or credit levels at a particular
venue to be unattractive. In such an
environment, the Exchange must
continually review, and consider
adjusting, its fees and credits to remain
competitive with other exchanges. For
these reasons, the Exchange believes
that the proposed rule change reflects
this competitive environment and is
therefore consistent with the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective
upon filing pursuant to Section
9 15
U.S.C. 78f(b)(8).
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18:18 Feb 05, 2014
Jkt 232001
7271
19(b)(3)(A) 10 of the Act and
subparagraph (f)(2) of Rule 19b–4 11
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
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) 12 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
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–2014–11 and should be
submitted on or before February 27,
2014.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposal is
consistent with the Act. Comments may
be submitted by any of the following
methods:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
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–NYSEMKT–2014–11 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
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–2014–11. 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
[FR Doc. 2014–02497 Filed 2–5–14; 8:45 am]
BILLING CODE 8011–01–P
[Release No. 34–71453; File No.
SR–NYSEMKT–2014–13]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Its Price List
To Increase the Fee for Executions in
New York Stock Exchange Crossing
Session II
January 31, 2014.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on January
23, 2014, NYSE MKT LLC (the
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory 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
The Exchange proposes to amend its
Price List to increase the fee for
13 17
10 15
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
12 15 U.S.C. 78s(b)(2)(B).
PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
E:\FR\FM\06FEN1.SGM
06FEN1
7272
Federal Register / Vol. 79, No. 25 / Thursday, February 6, 2014 / Notices
executions in New York Stock Exchange
(‘‘NYSE’’) Crossing Session II. The
Exchange proposes to implement the fee
change effective February 1, 2014. The
text of the proposed rule change is
available on the Exchange’s Web site at
www.nyse.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
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
self-regulatory organization 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
mstockstill on DSK4VPTVN1PROD with NOTICES
The Exchange proposes to amend its
Price List increase the fee for executions
in NYSE Crossing Session II. The
Exchange proposes to implement the fee
change effective February 1, 2014.4
A fee of $0.0002 per share currently
applies to executions in NYSE Crossing
Session II. The Exchange proposes to
increase the fee to $0.0004. Fees for
executions in NYSE Crossing Session II
would continue to be capped at $50,000
per month per member organization.
The proposed change is not otherwise
intended to address any other issues,
and the Exchange is not aware of any
problems that member organizations
would have in complying with the
proposed change.
4 The Exchange notes that it has previously filed
with the Securities and Exchange Commission a
proposed rule change to amend the Price List (File
No. SR–NYSEMKT–2014–11). Exhibit 5 to SR–
NYSEMKT–2014–11 specified an effective date for
the revised Price List of January 27, 2014 (changed
from December 16, 2013). Exhibit 5 to the instant
proposed rule change specifies an effective date of
February 1, 2014 (changed from December 16,
2013). On January 27, 2014, subject to effectiveness
of SR–NYSEMKT–2014–11, the Exchange will
update the Price List to reflect the fee change
reflected in SR–NYSEMKT–2014–11, with an
effective date of January 27, 2014. On February 1,
2014, the Exchange will further update the Price
List to reflect the changes set forth in the instant
proposed rule change, with an effective date of
February 1, 2014.
VerDate Mar<15>2010
18:18 Feb 05, 2014
Jkt 232001
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,5 in general, and
furthers the objectives of Sections
6(b)(4) and 6(b)(5) of the Act,6 in
particular, because it provides for the
equitable allocation of reasonable dues,
fees, and other charges among its
members, issuers and other persons
using its facilities and does not unfairly
discriminate between customers,
issuers, brokers or dealers.
The Exchange believes that the
proposed increase in the fee for NYSE
Crossing Session II transactions is
reasonable because it would more
closely align the rate with the other
rates within the Price List. The increase
would also align the rate with the
corresponding fee in the NYSE Price
List for Crossing Session II transactions,
which NYSE has also proposed to
increase from $0.0002 to $0.0004.7 The
Exchange also believes that the
proposed increase in the fee for NYSE
Crossing Session II transactions is
equitable and not unfairly
discriminatory because such fees would
apply to executions of all member
organizations in NYSE Crossing Session
II and because such fees would continue
to be capped at $50,000 per member
organization per month.
Finally, the Exchange believes that it
is subject to significant competitive
forces, as described below in the
Exchange’s statement regarding the
burden on competition.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,8 the Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
The increase in the fee for executions
in NYSE Crossing Session II would not
burden competition because it would
apply to all member organizations and
because fees for member organizations
that are particularly active in NYSE
Crossing Session II would continue to
be capped at $50,000 per member
organization per month. The proposed
increase would also align the fee with
the corresponding fee in the NYSE Price
U.S.C. 78f(b).
U.S.C. 78f(b)(4) and (5).
7 See SR–NYSE–2014–06.
8 15 U.S.C. 78f(b)(8).
List that is applicable to Crossing
Session II transactions.9
Finally, the Exchange notes that it
operates in a highly competitive market
in which market participants can
readily favor competing venues if they
deem fee levels at a particular venue to
be excessive or rebate opportunities
available at other venues to be more
favorable. In such an environment, the
Exchange must continually adjust its
fees and rebates to remain competitive
with other exchanges and with
alternative trading systems that have
been exempted from compliance with
the statutory standards applicable to
exchanges. Because competitors are free
to modify their own fees and credits in
response, and because market
participants may readily adjust their
order routing practices, the Exchange
believes that the degree to which fee
changes in this market may impose any
burden on competition is extremely
limited. As a result of all of these
considerations, the Exchange does not
believe that the proposed changes will
impair the ability of member
organizations or competing order
execution venues to maintain their
competitive standing in the financial
markets.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 10 of the Act and
subparagraph (f)(2) of Rule 19b–4 11
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
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) 12 of the Act to
determine whether the proposed rule
5 15
9 See
6 15
10 15
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
supra note 7.
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
12 15 U.S.C. 78s(b)(2)(B).
E:\FR\FM\06FEN1.SGM
06FEN1
Federal Register / Vol. 79, No. 25 / Thursday, February 6, 2014 / Notices
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:
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–02499 Filed 2–5–14; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Public Notice 8623]
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–
NYSEMKT–2014–13 on the subject line.
60-Day Notice of Proposed Information
Collection: Generic Clearance for the
Collection of Qualitative Feedback on
Agency Service Delivery
Paper Comments
The Department of State is
seeking Office of Management and
Budget (OMB) approval for the
information collection described below.
In accordance with the Paperwork
Reduction Act of 1995, we are
requesting comments on this collection
from all interested individuals and
organizations. The purpose of this
notice is to allow 60 days for public
comment preceding submission of the
collection to OMB.
DATES: The Department will accept
comments from the public up to April
7, 2014.
ADDRESSES: You may submit comments
by any of the following methods:
• Web: Persons with access to the
Internet may use the Federal Docket
Management System (FDMS) to
comment on this notice by going to
www.Regulations.gov. You can search
for the document by entering ‘‘Public
Notice 8623’’ in the Search bar. If
necessary, use the Narrow by Agency
filter option on the Results page.
• Email: ciupekra@state.gov.
You must include the DS form
number (if applicable), information
collection title, and the OMB control
number in any correspondence.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed collection
instrument and supporting documents,
to Raymond Ciupek, Department of
State, Office of Directives Management,
1800 G St. NW., Suite 2400,
Washington, DC 20522–2202, who may
be reached at ciupekra@state.gov.
SUPPLEMENTARY INFORMATION:
• Title of Information Collection:
Generic Clearance for the Collection of
SUMMARY:
mstockstill on DSK4VPTVN1PROD with NOTICES
• 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–2014–13. 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 Section, 100 F Street NE.,
Washington, DC 20549–1090, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing will also be available for
inspection and copying at the NYSE’s
principal office and on its Internet Web
site at www.nyse.com. 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–2014–13 and should be
submitted on or before February 27,
2014.
VerDate Mar<15>2010
18:18 Feb 05, 2014
Notice of request for public
comment.
ACTION:
Jkt 232001
13 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00110
Fmt 4703
Sfmt 4703
7273
Qualitative Feedback on Agency Service
Delivery.
• OMB Control Number: 1405–0193.
• Type of Request: Extension of an
approved collection.
• Originating Office: Office of
Directives Management, A/GIS/DIR.
• Form Number: Various public
surveys and comment cards.
• Respondents: Individuals
responding to Department of State
customer service evaluation requests.
• Estimated Number of Respondents:
50,000.
• Estimated Number of Responses:
50,000.
• Average Time per Response: 5
minutes
• Total Estimated Burden Time: 4,167
hours.
• Frequency: Once per request.
• Obligation to Respond: Voluntary.
We are soliciting public comments to
permit the Department to:
• Evaluate whether the proposed
information collection is necessary for
the proper functions of the Department.
• Evaluate the accuracy of our
estimate of the time and cost burden for
this proposed collection, including the
validity of the methodology and
assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected.
• Minimize the reporting burden on
those who are to respond, including the
use of automated collection techniques
or other forms of information
technology.
Please note that comments submitted
in response to this Notice are public
record. Before including any detailed
personal information, you should be
aware that your comments as submitted,
including your personal information,
will be available for public review.
Abstract of proposed collection: The
information collection activity will
garner qualitative customer feedback in
an efficient, timely manner, in
accordance with the Administration’s
commitment to improving service
delivery. This qualitative feedback will
provide insights into customer
perceptions, experiences and
expectations, provide an early warning
of issues with service, or focus attention
on areas where communication, training
or changes in operations might improve
delivery of products or services. These
collections will allow for ongoing,
collaborative and actionable
communications between the Agency
and its customers. It will also allow
feedback to contribute directly to the
improvement of program management.
Feedback collected under this generic
clearance will provide useful
E:\FR\FM\06FEN1.SGM
06FEN1
]]>Agencies
[Federal Register Volume 79, Number 25 (Thursday, February 6, 2014)]
[Notices]
[Pages 7271-7273]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-02499]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-71453; File No. SR-NYSEMKT-2014-13]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending Its Price List
To Increase the Fee for Executions in New York Stock Exchange Crossing
Session II
January 31, 2014.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on January 23, 2014, NYSE MKT LLC (the ``Exchange'' or
``NYSE MKT'') filed with the Securities and Exchange Commission (the
``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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 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 amend its Price List to increase the fee
for
[[Page 7272]]
executions in New York Stock Exchange (``NYSE'') Crossing Session II.
The Exchange proposes to implement the fee change effective February 1,
2014. The text of the proposed rule change is available on the
Exchange's Web site at www.nyse.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.
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 self-regulatory organization
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend its Price List increase the fee for
executions in NYSE Crossing Session II. The Exchange proposes to
implement the fee change effective February 1, 2014.\4\
---------------------------------------------------------------------------
\4\ The Exchange notes that it has previously filed with the
Securities and Exchange Commission a proposed rule change to amend
the Price List (File No. SR-NYSEMKT-2014-11). Exhibit 5 to SR-
NYSEMKT-2014-11 specified an effective date for the revised Price
List of January 27, 2014 (changed from December 16, 2013). Exhibit 5
to the instant proposed rule change specifies an effective date of
February 1, 2014 (changed from December 16, 2013). On January 27,
2014, subject to effectiveness of SR-NYSEMKT-2014-11, the Exchange
will update the Price List to reflect the fee change reflected in
SR-NYSEMKT-2014-11, with an effective date of January 27, 2014. On
February 1, 2014, the Exchange will further update the Price List to
reflect the changes set forth in the instant proposed rule change,
with an effective date of February 1, 2014.
---------------------------------------------------------------------------
A fee of $0.0002 per share currently applies to executions in NYSE
Crossing Session II. The Exchange proposes to increase the fee to
$0.0004. Fees for executions in NYSE Crossing Session II would continue
to be capped at $50,000 per month per member organization.
The proposed change is not otherwise intended to address any other
issues, and the Exchange is not aware of any problems that member
organizations would have in complying with the proposed change.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and furthers the
objectives of Sections 6(b)(4) and 6(b)(5) of the Act,\6\ in
particular, because it provides for the equitable allocation of
reasonable dues, fees, and other charges among its members, issuers and
other persons using its facilities and does not unfairly discriminate
between customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed increase in the fee for
NYSE Crossing Session II transactions is reasonable because it would
more closely align the rate with the other rates within the Price List.
The increase would also align the rate with the corresponding fee in
the NYSE Price List for Crossing Session II transactions, which NYSE
has also proposed to increase from $0.0002 to $0.0004.\7\ The Exchange
also believes that the proposed increase in the fee for NYSE Crossing
Session II transactions is equitable and not unfairly discriminatory
because such fees would apply to executions of all member organizations
in NYSE Crossing Session II and because such fees would continue to be
capped at $50,000 per member organization per month.
---------------------------------------------------------------------------
\7\ See SR-NYSE-2014-06.
---------------------------------------------------------------------------
Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\8\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
The increase in the fee for executions in NYSE Crossing Session II
would not burden competition because it would apply to all member
organizations and because fees for member organizations that are
particularly active in NYSE Crossing Session II would continue to be
capped at $50,000 per member organization per month. The proposed
increase would also align the fee with the corresponding fee in the
NYSE Price List that is applicable to Crossing Session II
transactions.\9\
---------------------------------------------------------------------------
\9\ See supra note 7.
---------------------------------------------------------------------------
Finally, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues if they deem fee levels at a particular venue to be
excessive or rebate opportunities available at other venues to be more
favorable. In such an environment, the Exchange must continually adjust
its fees and rebates to remain competitive with other exchanges and
with alternative trading systems that have been exempted from
compliance with the statutory standards applicable to exchanges.
Because competitors are free to modify their own fees and credits in
response, and because market participants may readily adjust their
order routing practices, the Exchange believes that the degree to which
fee changes in this market may impose any burden on competition is
extremely limited. As a result of all of these considerations, the
Exchange does not believe that the proposed changes will impair the
ability of member organizations or competing order execution venues to
maintain their competitive standing in the financial markets.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \10\ of the Act and subparagraph (f)(2) of Rule
19b-4 \11\ thereunder, because it establishes a due, fee, or other
charge imposed by the Exchange.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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) \12\ of the Act to determine whether the proposed
rule
[[Page 7273]]
change should be approved or disapproved.
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\12\ 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-NYSEMKT-2014-13 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-NYSEMKT-2014-13. 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 Section, 100 F Street
NE., Washington, DC 20549-1090, on official business days between the
hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be
available for inspection and copying at the NYSE's principal office and
on its Internet Web site at www.nyse.com. 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-2014-13 and should be submitted
on or before February 27, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-02499 Filed 2-5-14; 8:45 am]
BILLING CODE 8011-01-P
