Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Clerical and Non-Controversial Rule Changes, 13726-13728 [2014-05176]
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13726
Federal Register / Vol. 79, No. 47 / Tuesday, March 11, 2014 / Notices
Exchange places the Exchange at a
`
competitive disadvantage vis-a-vis other
exchanges that offer similar price
improvement mechanisms.
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
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve or disapprove
the proposed rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be 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:
emcdonald on DSK67QTVN1PROD with NOTICES
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–2014–17 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–2014–17. 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
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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 20549–1090, 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
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–2014–17, and should be
submitted on or before April 1, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.65
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–05179 Filed 3–10–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–71650; File No. SR–BOX–
2014–09]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Clerical and NonControversial Rule Changes
March 5, 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 February
26, 2014, BOX Options Exchange LLC
(‘‘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 self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
from interested persons.
65 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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I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to make noncontroversial and clerical amendments
to its rules. The text of the proposed
rule change is available from the
principal office of the Exchange, at the
Commission’s Public Reference Room
and also on the Exchange’s Internet Web
site at https://boxexchange.com.
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 these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization 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 purpose of the proposed rule
change is to amend Rules 7130
(Execution and Price/Time Priority) and
7230 (Limitation on Liability) and
Interpretive Material to Rule 15010
(Order Protection) to make clerical
corrections to the BOX Rulebook.
Additionally, the Exchange proposes to
make non-controversial amendments to
Rules 7110 (Order Entry) and 8050
(Market Maker Quotations).
First, there is a numbering issue
within Rule 7130 which needs to be
corrected. Specifically, 7130(a)(4)(v) is
incorrectly numbered and needs to be
changed to 7130(a)(4)(iv). Although this
numbering issue has been in place since
the inception of the BOX Rulebook,3
BOX recently became aware of it.
Second, on May 9, 2012, BOX filed a
proposed rule change to amend BOX
Rule 7230 4 to clarify and codify certain
provisions within Rule 7230 and to
establish the maximum monthly
compensation amount. The changes to
that filing became operative on May 9,
2012. The purpose of this filing is to
correct clerical and grammatical errors
that were created by that filing.
3 See Securities Exchange Act Release No. 66871
(April 27, 2012) (File No. 10–206).
4 See Securities Exchange Act Release No. 66982
(May 14, 2012), 77 FR 29718 (May 18, 2012) (SR–
BOX–2012–001).
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Federal Register / Vol. 79, No. 47 / Tuesday, March 11, 2014 / Notices
Specifically, in subsection (a)(2), the
Exchange would like to update the two
instances of ‘‘Exchange Related Persons
or Entities’’ to ’’ Exchange Related
Persons and/or Entities’’. Additionally,
in subsection (c), the Exchange would
like to correct the grammatical error by
removing the word ‘‘any’’ from the last
sentence. Lastly, in subsection (d), the
Exchange would like to make another
clerical correction by changing
‘‘Exchange Related Persons and/or
Entity’’ to ‘‘Exchange Related Persons
and/or Entities’’.
Third, the Interpretative Material to
BOX Rule 15010 is incorrectly titled as
‘‘IM–15020–1’’. The Exchange would
like to correct this typographical error
by amending the Interpretative Material
to read ‘‘IM–15010–1’’. Although this
numbering issue has been in place since
the inception of the BOX Rulebook,5
BOX recently became aware of it.
Fourth, the Exchange is proposing to
amend Rule 7110(e)(1)(i) by adding a
provision to the existing order
designation, Good ‘Till Cancelled
(‘‘GTC’’).6 Specifically, the proposal
adds subsection (E) which states that
orders with the GTC designation will be
cancelled in the event of a corporate
action that results in an adjustment to
the terms of an option contract. Further,
the addition of this provision is based
on a filing recently submitted by the
International Securities Exchange, Inc
[sic] (‘‘ISE’’).7
Last, the Exchange is proposing to
remove Rule 8050(d)(3), which states
that within thirty seconds of receipt of
a Customer Order to buy or sell an
option in an amount greater than its
published quotation size, a Market
Maker will execute the entire order or
that portion of the order equal to its
published quotation size and the bid or
offer price will be revised. The
Exchange believes this Rule is obsolete
and no longer applicable because the
BOX system is fully automated and all
orders, including Customer Orders, are
executed automatically and both orders
execute against the full size of the
Market Maker quote in compliance with
Rule 602(c)(3) of Regulation NMS.
5 See
supra note 3.
GTC designation can be added to Limit Orders
and remain in the BOX Book until the order: (A)
Trades; (B) is withdrawn by the relevant
responsible trader or BOX at the Options
Participant’s request; (C) is automatically
withdrawn by the Trading Host at market close on
the date specified at the time of order entry; or (D)
is automatically cancelled by the Trading Host on
expiration of the contract month to which the order
is related. See Rule 7110(e)(1)(i).
7 See Securities Exchange Act Release No. 71153
(December 20, 2013), 78 FR 79037 (December 27,
2013) (Notice of Filing and Immediate Effectiveness
of SR–ISE–2013–67).
emcdonald on DSK67QTVN1PROD with NOTICES
6A
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13727
Although this provision is being
removed from the Exchange’s Rulebook,
brokers or dealers are still subject to the
Thirty Second Response Obligation
under Rule 602(c)(3) of Regulation
NMS. The Exchange notes that the BOX
system is programmed to ensure
compliance with such obligation.
Additionally, the removal of this
provision is based on a filing recently
submitted by the ISE.8
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the Act,9
in general, and Section 6(b)(5) of the
Act,10 in particular, [sic] that it is
designed to promote just and equitable
principles of trade, remove
impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general protect investors and the public
interest. The Exchange believes it is
appropriate to make these noncontroversial and clerical corrections to
its rules so that Exchange participants
and investors have a clear and accurate
understanding of the meaning of the
Exchange’s rules. By removing obsolete
rule text as well as making clerical
corrections, the Exchange is eliminating
any potential for confusion by
simplifying the Exchange Rules,
ensuring that Participants, regulators
and the public can more easily navigate
the Exchange’s Rulebook. The
additional provision to the GTC
designation codifies and clarifies what
happens in the event of a corporate
action, and therefore, will serve to
eliminate investor confusion. There is
nothing new or novel with respect to
this order designation and ISE has this
identical provision in its rules.11 The
Exchange believes that the proposed
rule change is not unfairly
discriminatory because it treats all
market participants equally and will not
have an adverse impact on any market
participant.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Most of the proposed rule changes are
non-substantive corrections to the
Exchange’s rules and therefore do not
implicate the competition analysis. The
other proposed rule changes are based
on a recent filing by the ISE.12 As such,
the Exchange does not believe that the
proposed rule change will impose any
8 Id.
9 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
11 See ISE Rule 715(r).
12 See supra note 7.
10 15
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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A) 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
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 15 and Rule 19b–4(f)(6)
thereunder.16
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.
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
13 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
15 15 U.S.C. 78s(b)(3)(A).
16 17 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.
14 17
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13728
Federal Register / Vol. 79, No. 47 / Tuesday, March 11, 2014 / Notices
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
BOX–2014–09 on the subject line.
[File No. 500–1]
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–BOX–2014–09. 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
10:00 a.m. and 3:00 p.m. Copies of such
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–BOX–
2014–09 and should be submitted on or
before April 1, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Kevin M. O’Neill,
Deputy Secretary.
In The Matter Of Global Earth Energy,
Inc.; Order of Suspension of Trading
March 7, 2014.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Global Earth
Energy, Inc. (‘‘Global Earth’’) because,
among other things, of questions
regarding the accuracy and
completeness of Global Earth’s
representations to investors and
prospective investors in Global Earth’s
public filings with the Commission and
Global Earth’s publicly-available press
releases and other public statements. In
particular, there are questions regarding
the accuracy and completeness of
Global Earth’s public assertions relating
to its business transactions with Hawk
Manufacturing Corp. Based on Global
Earth’s most recent Form 10–K annual
report filed for the company’s fiscal year
ended August 31, 2013, Global Earth is
a Nevada corporation based in
Wilmington, North Carolina. As of
March 5, 2014, the company’s common
stock was quoted on OTC Link operated
by OTC Markets Group, Inc. under the
symbol ‘‘GLER.’’
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of Global Earth.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of Global Earth is suspended
for the period from 9:30 a.m. EST on
March 7, 2014, through 11:59 p.m. EDT
on March 20, 2014.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014–05342 Filed 3–7–14; 11:15 am]
BILLING CODE 8011–01–P
BILLING CODE 8011–01–P
17:22 Mar 10, 2014
[FR Doc. 2014–05341 Filed 3–7–14; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 500–1]
In the Matter of Suburban Minerals
Corp.; Order of Suspension of Trading
March 7, 2014.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Suburban
Minerals Corp. because of questions
regarding the accuracy of publicly
available information about the
company’s operations.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of the above-listed
company.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed company is
suspended for the period from 9:30 a.m.
EST on March 7, 2014, through 11:59
p.m. EDT on March 20, 2014.
By the Commission.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014–05343 Filed 3–7–14; 11:15 am]
BILLING CODE 8011–01–P
[File No. 500–1]
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #13897]
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Broadcast
Live Digital Corp. because of questions
regarding the accuracy of publicly
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
By the Commission.
Jill M. Peterson,
Assistant Secretary.
SECURITIES AND EXCHANGE
COMMISSION
March 7, 2014.
17 17
available information about the
company’s operations.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of the above-listed
company.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed company is
suspended for the period from 9:30 a.m.
EST on March 7, 2014, through 11:59
p.m. EDT on March 20, 2014.
In the Matter of Broadcast Live Digital
Corp.; Order of Suspension of Trading
[FR Doc. 2014–05176 Filed 3–10–14; 8:45 am]
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SECURITIES AND EXCHANGE
COMMISSION
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Maine Disaster #ME–00042 Declaration
of Economic Injury
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
This is a notice of an
Economic Injury Disaster Loan (EIDL)
SUMMARY:
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]]>Agencies
[Federal Register Volume 79, Number 47 (Tuesday, March 11, 2014)]
[Notices]
[Pages 13726-13728]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-05176]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-71650; File No. SR-BOX-2014-09]
Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of Proposed Clerical and Non-
Controversial Rule Changes
March 5, 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 February 26, 2014, BOX Options Exchange LLC (``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 self-regulatory organization. The Commission
is publishing this notice to solicit comments on the proposed rule 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 Substance
of the Proposed Rule Change
The Exchange proposes to make non-controversial and clerical
amendments to its rules. The text of the proposed rule change is
available from the principal office of the Exchange, at the
Commission's Public Reference Room and also on the Exchange's Internet
Web site at https://boxexchange.com.
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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
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 purpose of the proposed rule change is to amend Rules 7130
(Execution and Price/Time Priority) and 7230 (Limitation on Liability)
and Interpretive Material to Rule 15010 (Order Protection) to make
clerical corrections to the BOX Rulebook. Additionally, the Exchange
proposes to make non-controversial amendments to Rules 7110 (Order
Entry) and 8050 (Market Maker Quotations).
First, there is a numbering issue within Rule 7130 which needs to
be corrected. Specifically, 7130(a)(4)(v) is incorrectly numbered and
needs to be changed to 7130(a)(4)(iv). Although this numbering issue
has been in place since the inception of the BOX Rulebook,\3\ BOX
recently became aware of it.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 66871 (April 27,
2012) (File No. 10-206).
---------------------------------------------------------------------------
Second, on May 9, 2012, BOX filed a proposed rule change to amend
BOX Rule 7230 \4\ to clarify and codify certain provisions within Rule
7230 and to establish the maximum monthly compensation amount. The
changes to that filing became operative on May 9, 2012. The purpose of
this filing is to correct clerical and grammatical errors that were
created by that filing.
[[Page 13727]]
Specifically, in subsection (a)(2), the Exchange would like to update
the two instances of ``Exchange Related Persons or Entities'' to ''
Exchange Related Persons and/or Entities''. Additionally, in subsection
(c), the Exchange would like to correct the grammatical error by
removing the word ``any'' from the last sentence. Lastly, in subsection
(d), the Exchange would like to make another clerical correction by
changing ``Exchange Related Persons and/or Entity'' to ``Exchange
Related Persons and/or Entities''.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 66982 (May 14,
2012), 77 FR 29718 (May 18, 2012) (SR-BOX-2012-001).
---------------------------------------------------------------------------
Third, the Interpretative Material to BOX Rule 15010 is incorrectly
titled as ``IM-15020-1''. The Exchange would like to correct this
typographical error by amending the Interpretative Material to read
``IM-15010-1''. Although this numbering issue has been in place since
the inception of the BOX Rulebook,\5\ BOX recently became aware of it.
---------------------------------------------------------------------------
\5\ See supra note 3.
---------------------------------------------------------------------------
Fourth, the Exchange is proposing to amend Rule 7110(e)(1)(i) by
adding a provision to the existing order designation, Good `Till
Cancelled (``GTC'').\6\ Specifically, the proposal adds subsection (E)
which states that orders with the GTC designation will be cancelled in
the event of a corporate action that results in an adjustment to the
terms of an option contract. Further, the addition of this provision is
based on a filing recently submitted by the International Securities
Exchange, Inc [sic] (``ISE'').\7\
---------------------------------------------------------------------------
\6\ A GTC designation can be added to Limit Orders and remain in
the BOX Book until the order: (A) Trades; (B) is withdrawn by the
relevant responsible trader or BOX at the Options Participant's
request; (C) is automatically withdrawn by the Trading Host at
market close on the date specified at the time of order entry; or
(D) is automatically cancelled by the Trading Host on expiration of
the contract month to which the order is related. See Rule
7110(e)(1)(i).
\7\ See Securities Exchange Act Release No. 71153 (December 20,
2013), 78 FR 79037 (December 27, 2013) (Notice of Filing and
Immediate Effectiveness of SR-ISE-2013-67).
---------------------------------------------------------------------------
Last, the Exchange is proposing to remove Rule 8050(d)(3), which
states that within thirty seconds of receipt of a Customer Order to buy
or sell an option in an amount greater than its published quotation
size, a Market Maker will execute the entire order or that portion of
the order equal to its published quotation size and the bid or offer
price will be revised. The Exchange believes this Rule is obsolete and
no longer applicable because the BOX system is fully automated and all
orders, including Customer Orders, are executed automatically and both
orders execute against the full size of the Market Maker quote in
compliance with Rule 602(c)(3) of Regulation NMS. Although this
provision is being removed from the Exchange's Rulebook, brokers or
dealers are still subject to the Thirty Second Response Obligation
under Rule 602(c)(3) of Regulation NMS. The Exchange notes that the BOX
system is programmed to ensure compliance with such obligation.
Additionally, the removal of this provision is based on a filing
recently submitted by the ISE.\8\
---------------------------------------------------------------------------
\8\ Id.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\9\ in general, and Section
6(b)(5) of the Act,\10\ in particular, [sic] that it is designed to
promote just and equitable principles of trade, remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and, in general protect investors and the public
interest. The Exchange believes it is appropriate to make these non-
controversial and clerical corrections to its rules so that Exchange
participants and investors have a clear and accurate understanding of
the meaning of the Exchange's rules. By removing obsolete rule text as
well as making clerical corrections, the Exchange is eliminating any
potential for confusion by simplifying the Exchange Rules, ensuring
that Participants, regulators and the public can more easily navigate
the Exchange's Rulebook. The additional provision to the GTC
designation codifies and clarifies what happens in the event of a
corporate action, and therefore, will serve to eliminate investor
confusion. There is nothing new or novel with respect to this order
designation and ISE has this identical provision in its rules.\11\ The
Exchange believes that the proposed rule change is not unfairly
discriminatory because it treats all market participants equally and
will not have an adverse impact on any market participant.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(5).
\11\ See ISE Rule 715(r).
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B. Self-Regulatory Organization's Statement on Burden on Competition
Most of the proposed rule changes are non-substantive corrections
to the Exchange's rules and therefore do not implicate the competition
analysis. The other proposed rule changes are based on a recent filing
by the ISE.\12\ As such, the Exchange does not believe that the
proposed rule change will impose any burden on competition not
necessary or appropriate in furtherance of the purposes of the Act.
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\12\ See supra note 7.
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C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
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) 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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \15\ and Rule 19b-
4(f)(6) thereunder.\16\
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6).
\15\ 15 U.S.C. 78s(b)(3)(A).
\16\ 17 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.
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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.
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
[[Page 13728]]
Send an email to rule-comments@sec.gov. Please include
File Number SR-BOX-2014-09 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-BOX-2014-09. 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
10:00 a.m. and 3:00 p.m. Copies of such 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-BOX-2014-09 and should be
submitted on or before April 1, 2014.
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\17\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\17\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-05176 Filed 3-10-14; 8:45 am]
BILLING CODE 8011-01-P
