Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Mini Options, 27014-27016 [2014-10778]
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27014
Federal Register / Vol. 79, No. 91 / Monday, May 12, 2014 / Notices
Reserve Orders. For liquidity ‘‘Takers’’
the Exchange is proposing to eliminate
a rebate of $0.0017 per executed share
and charge a fee of $0.0001, or $0.0002
for removing any Zero Display Reserve
Order. The Exchange anticipates that
eliminating the rebates paid to ETP
Holders removing liquidity places it in
a unique competitive position among
equity exchanges. Similarly, the
Exchange submits that its proposal to
reduce the fee for routed orders from
$0.0025 to $0.0020 enhances its position
as a cost-efficient trading venue and
supports the Exchange’s belief that its
proposed pricing model promotes rather
than burdens competition.
The Exchange submits that the
proposed fee changes aspire to enhance
the Exchange’s competitive position by
offering a cost-efficient, high-quality
execution venue that provides for
pricing that responds to the concerns
expressed by market participants and
others about the impact of rebates on the
selection of execution venue. The
Exchange submits that its proposal
poses no burden on competition and, in
fact, seeks to foster greater competition
among trading venues.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited or
received written comments on the
proposed rule change from ETP Holders
or others.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has taken
effect upon filing pursuant to Section
19(b)(3)(A)(ii) of the Act 10 and
subparagraph (f)(2) of Rule 19b–4.11 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.
emcdonald on DSK67QTVN1PROD with NOTICES
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:
10 15
11 17
U.S.C. 78s(b)(3)(A)(ii).
CFR.240.19b–4.
VerDate Mar<15>2010
18:00 May 09, 2014
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–
NSX–2014–12 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NSX–2014–12. 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 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–NSX–
2014–12 and should be submitted on or
before June 2, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–10779 Filed 5–9–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72105; File No. SR–
NASDAQ–2014–043]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Mini Options
May 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 April 24,
2014, The NASDAQ Stock Market LLC
(‘‘NASDAQ’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I and II below, which Items
have been prepared by NASDAQ. 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
NASDAQ proposes to amend
Supplementary Material .08 to Chapter
IV, Section 6 (Series of Options
Contracts Open for Trading), entitled
‘‘Mini Options Contracts’’ on The
NASDAQ Options Market (‘‘NOM’’),
NASDAQ’s facility for executing and
routing standardized equity and index
options. Specifically, the Exchange
proposes to replace the reference to
‘‘GOOG’’ to ‘‘GOOGL.’’
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
www.nasdaq.cchwallstreet.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
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.
1 15
12 17
Jkt 232001
PO 00000
CFR 200.30–3(a)(12).
Frm 00082
Fmt 4703
Sfmt 4703
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\12MYN1.SGM
12MYN1
Federal Register / Vol. 79, No. 91 / Monday, May 12, 2014 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Supplementary Material .08 to Chapter
IV, Section 6, regarding Mini Options
traded on NASDAQ, to replace the
reference to ‘‘GOOG’’ to ‘‘GOOGL.’’ This
filing is similar to filings made by the
International Securities Exchange, LLC
(‘‘ISE’’), BOX Options Exchange LLC
(‘‘BOX’’) and the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’).3
The Exchange is proposing to make a
change to Supplementary Material .08 to
enable the continued trading of Mini
Options on Google’s class A shares. The
Exchange is proposing to make this
change because, on April 2, 2014,
Google issued a new class of shares
(class C) to its shareholders in lieu of a
cash dividend payment. The new
Google Class C shares were given the
old Google ticker symbol, ‘‘GOOG,’’ and
the new [sic] class A shares have been
given a new ticker symbol of ‘‘GOOGL.’’
The Exchange is proposing to change
the Google ticker referenced in Chapter
IV, Section 6 from ‘‘GOOG’’ to
‘‘GOOGL.’’
The purpose of this change is to
ensure that Supplementary Material .08
to Chapter IV, Section 6 properly
reflects the intention and practice of the
Exchange to trade Mini Options on only
an exhaustive list of underlying
securities outlined in Supplementary
Material .08 to Chapter IV, Section 6.
This change is meant to continue the
inclusion of class A shares of Google in
the current list of underlying securities
that Mini Options can be traded on,
while making it clear that class C shares
of Google are not part of that list as that
class of options has not been approved
for Mini Options trading. As a result,
the proposed change will also help
avoid confusion.
emcdonald on DSK67QTVN1PROD with NOTICES
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
3 See Securities Exchange Release Nos. 71873
(April 4, 2014), 79 FR 19953 (April 10, 2014) (SR–
BOX–2014–13); 71848 (April 2, 2014), 79 FR 19405
(April 8, 2014) (SR–CBOE–2014–030); SR–ISE–
2014–021 (not yet published).
4 15 U.S.C. 78f(b).
VerDate Mar<15>2010
18:00 May 09, 2014
Jkt 232001
27015
6(b)(5) 5 requirements that the rules of
an exchange be designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, 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.
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 6 requirement that
the rules of an exchange not be designed
to permit unfair discrimination between
customers, issuers, brokers, or dealers.
In particular, the proposed rule change
to change the Google class A ticker to
its new designation is consistent with
the Act because the proposed change is
merely updating the corresponding
ticker to allow for continued mini
option trading on Google’s class A
shares. The proposed change will allow
for continued benefit to investors by
providing them with additional
investment alternatives.
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii) 10 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 as it
will help to ensure that market
participants are properly informed as to
the underlying securities eligible for
trading of Mini Options contracts on the
Exchange. For this reason, the
Commission designates the proposed
rule change to be operative upon
filing.11
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of 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 either
solicited or received.
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:
II. Date of Effectiveness of the Proposed
Rule Change and Timing for
Commission Action
Because the proposed rule change
does not (i) significantly affect the
protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate 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 7 and Rule 19b–4(f)(6)
thereunder.8
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
5 15
U.S.C. 78f(b)(5).
6 Id.
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the 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.
9 17 CFR 240.19b–4(f)(6).
8 17
PO 00000
Frm 00083
Fmt 4703
Sfmt 4703
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–NASDAQ–2014–043 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NASDAQ–2014–043. 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
10 17
CFR 240.19b–4(f)(6)(iii).
purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
11 For
E:\FR\FM\12MYN1.SGM
12MYN1
27016
Federal Register / Vol. 79, No. 91 / Monday, May 12, 2014 / Notices
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 the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NASDAQ–2014–043 and should be
submitted on or before June 2, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–10778 Filed 5–9–14; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX BX, Inc. Relating to Mini Options
emcdonald on DSK67QTVN1PROD with NOTICES
May 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 April 24,
2014, NASDAQ OMX BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘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
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Mar<15>2010
18:00 May 09, 2014
Jkt 232001
The Exchange proposes to amend
Supplementary Material .08 to Chapter
IV, Section 6 (Series of Options
Contracts Open for Trading), entitled
‘‘Mini Options Contracts.’’ Specifically,
the Exchange proposes to replace the
reference to ‘‘GOOG’’ to ‘‘GOOGL.’’
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxbx.cchwallstreet.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
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.
1. Purpose
[Release No. 34–72104; File No. SR–BX–
2014–020]
1 15
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
12 17
comments on the proposed rule change
from interested persons.
The Exchange proposes to amend
Supplementary Material .08 to Chapter
IV, Section 6, regarding Mini Options
traded on BX, to replace the reference to
‘‘GOOG’’ to ‘‘GOOGL.’’ This filing is
similar to filings made by the
International Securities Exchange, LLC
(‘‘ISE’’), BOX Options Exchange LLC
(‘‘BOX’’) and the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’).3
The Exchange is proposing to make a
change to Supplementary Material .08 to
enable the continued trading of Mini
Options on Google’s class A shares. The
Exchange is proposing to make this
change because, on April 2, 2014,
Google issued a new class of shares
(class C) to its shareholders in lieu of a
cash dividend payment. The new
Google Class C shares were given the
3 See Securities Exchange Release Nos. 71873
(April 4, 2014), 79 FR 19953 (April 10, 2014) (SR–
BOX–2014–13); 71848 (April 2, 2014), 79 FR 19405
(April 8, 2014) (SR–CBOE–2014–030); SR–ISE–
2014–021 (not yet published).
PO 00000
Frm 00084
Fmt 4703
Sfmt 4703
old Google ticker symbol, ‘‘GOOG,’’ and
the new [sic] class A shares have been
given a new ticker symbol of ‘‘GOOGL.’’
The Exchange is proposing to change
the Google ticker referenced in Chapter
IV, Section 6 from ‘‘GOOG’’ to
‘‘GOOGL.’’
The purpose of this change is to
ensure that Supplementary Material .08
to Chapter IV, Section 6 properly
reflects the intention and practice of the
Exchange to trade Mini Options on only
an exhaustive list of underlying
securities outlined in Supplementary
Material .08 to Chapter IV, Section 6.
This change is meant to continue the
inclusion of class A shares of Google in
the current list of underlying securities
that Mini Options can be traded on,
while making it clear that class C shares
of Google are not part of that list as that
class of options has not been approved
for Mini Options trading. As a result,
the proposed change will also help
avoid confusion.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.4 Specifically,
the Exchange believes the proposed rule
change is consistent with the Section
6(b)(5) 5 requirements that the rules of
an exchange be designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, 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.
Additionally, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 6 requirement that
the rules of an exchange not be designed
to permit unfair discrimination between
customers, issuers, brokers, or dealers.
In particular, the proposed rule change
to change the Google class A ticker to
its new designation is consistent with
the Act because the proposed change is
merely updating the corresponding
ticker to allow for continued mini
option trading on Google’s class A
shares. The proposed change will allow
for continued benefit to investors by
4 15
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
6 Id.
E:\FR\FM\12MYN1.SGM
12MYN1
]]>Agencies
[Federal Register Volume 79, Number 91 (Monday, May 12, 2014)]
[Notices]
[Pages 27014-27016]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-10778]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-72105; File No. SR-NASDAQ-2014-043]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Mini Options
May 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 April 24, 2014, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I and II below, which Items have been prepared by NASDAQ. 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 Substance
of the Proposed Rule Change
NASDAQ proposes to amend Supplementary Material .08 to Chapter IV,
Section 6 (Series of Options Contracts Open for Trading), entitled
``Mini Options Contracts'' on The NASDAQ Options Market (``NOM''),
NASDAQ's facility for executing and routing standardized equity and
index options. Specifically, the Exchange proposes to replace the
reference to ``GOOG'' to ``GOOGL.''
The text of the proposed rule change is available on the Exchange's
Web site at https://www.nasdaq.cchwallstreet.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 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.
[[Page 27015]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Supplementary Material .08 to
Chapter IV, Section 6, regarding Mini Options traded on NASDAQ, to
replace the reference to ``GOOG'' to ``GOOGL.'' This filing is similar
to filings made by the International Securities Exchange, LLC
(``ISE''), BOX Options Exchange LLC (``BOX'') and the Chicago Board
Options Exchange, Incorporated (``CBOE'').\3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Release Nos. 71873 (April 4, 2014),
79 FR 19953 (April 10, 2014) (SR-BOX-2014-13); 71848 (April 2,
2014), 79 FR 19405 (April 8, 2014) (SR-CBOE-2014-030); SR-ISE-2014-
021 (not yet published).
---------------------------------------------------------------------------
The Exchange is proposing to make a change to Supplementary
Material .08 to enable the continued trading of Mini Options on
Google's class A shares. The Exchange is proposing to make this change
because, on April 2, 2014, Google issued a new class of shares (class
C) to its shareholders in lieu of a cash dividend payment. The new
Google Class C shares were given the old Google ticker symbol,
``GOOG,'' and the new [sic] class A shares have been given a new ticker
symbol of ``GOOGL.'' The Exchange is proposing to change the Google
ticker referenced in Chapter IV, Section 6 from ``GOOG'' to ``GOOGL.''
The purpose of this change is to ensure that Supplementary Material
.08 to Chapter IV, Section 6 properly reflects the intention and
practice of the Exchange to trade Mini Options on only an exhaustive
list of underlying securities outlined in Supplementary Material .08 to
Chapter IV, Section 6. This change is meant to continue the inclusion
of class A shares of Google in the current list of underlying
securities that Mini Options can be traded on, while making it clear
that class C shares of Google are not part of that list as that class
of options has not been approved for Mini Options trading. As a result,
the proposed change will also help avoid confusion.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations thereunder applicable to the Exchange and, in particular,
the requirements of Section 6(b) of the Act.\4\ Specifically, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \5\ requirements that the rules of an exchange be
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, 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. Additionally,
the Exchange believes the proposed rule change is consistent with the
Section 6(b)(5) \6\ requirement that the rules of an exchange not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers. In particular, the proposed rule change to change
the Google class A ticker to its new designation is consistent with the
Act because the proposed change is merely updating the corresponding
ticker to allow for continued mini option trading on Google's class A
shares. The proposed change will allow for continued benefit to
investors by providing them with additional investment alternatives.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
\6\ Id.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
II. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the proposed rule change does not (i) significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days from the date on which it was filed, or such shorter time as the
Commission may designate 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 \7\ and Rule 19b-4(f)(6)
thereunder.\8\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the 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.
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative for 30 days after the date of filing.
However, pursuant to Rule 19b-4(f)(6)(iii) \10\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest.
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
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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
as it will help to ensure that market participants are properly
informed as to the underlying securities eligible for trading of Mini
Options contracts on the Exchange. For this reason, the Commission
designates the proposed rule change to be operative upon filing.\11\
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\11\ For purposes only of waiving the 30-day operative delay,
the Commission has also 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 the 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
Send an email to rule-comments@sec.gov. Please include
File Number SR-NASDAQ-2014-043 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-NASDAQ-2014-043. 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
[[Page 27016]]
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 the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-NASDAQ-2014-043 and should
be submitted on or before June 2, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-10778 Filed 5-9-14; 8:45 am]
BILLING CODE 8011-01-P
