Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule Relating to Lead Market Maker Rights Fees, 33247-33249 [2014-13456]
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Federal Register / Vol. 79, No. 111 / Tuesday, June 10, 2014 / Notices
(ii) The proposed rule change will
align the GSD fees and the MBSD fees
with the costs of delivering services.
Therefore, FICC believes the proposed
rule change is consistent with the
requirements of the Securities Exchange
Act of 1934, as amended (‘‘Act’’) and the
rules and regulations thereunder
applicable to FICC, in particular Section
17A(b)(3)(D) of the Act 5, which requires
that the GSD Rules and the MBSD Rules
provide for the equitable allocation of
reasonable dues, fees, and other charges
among its members, respectively.
(B) Clearing Agency’s Statement on
Burden on Competition
FICC does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition. As stated above, the
proposed changes will align the fees in
the GSD Rules and the MBSD Rules
with the costs of delivering services to
its members.
(C) Clearing Agency’s Statement on
Comments on the Proposed Rule
Change Received From Members,
Participants, or Others
FICC has discussed the proposed fee
changes with the majority of the GSD,
MBSD and MBSD EPN members. FICC
will discuss the proposed changes with
the remainder of its members over the
next several weeks. Written comments
relating to the proposed rule change
have not yet been solicited or received.
FICC will notify the Commission of any
written comments received by FICC.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The forgoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 6 and Rule 19b–
4(f)(2) 7 thereunder. 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.
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:
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–
FICC–2014–03 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–FICC–2014–03. 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 FICC. 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–FICC–
2014–03 and should be submitted on or
before July 1, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–13450 Filed 6–9–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72312; File No. SR–
NYSEArca–2014–63]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending the NYSE Arca
Options Fee Schedule Relating to Lead
Market Maker Rights Fees
June 4, 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 May 23,
2014, NYSE Arca, Inc. (the ‘‘Exchange’’
or ‘‘NYSE Arca’’) 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.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend the
NYSE Arca Options Fee Schedule (‘‘Fee
Schedule’’) relating to Lead Market
Maker (‘‘LMM’’) Rights fees. The
Exchange proposes to implement the fee
change effective June 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.
55
1 15
6 15
2 15
U.S.C. 78q–1(b)(3)(D) [sic].
U.S.C. 78s(b)(3)(A)(ii).
7 17 CFR 240.19b–4(f)(2).
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16:55 Jun 09, 2014
8 17
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U.S.C. 78a.
3 17 CFR 240.19b–4.
CFR 200.30–3(a)(12).
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Federal Register / Vol. 79, No. 111 / Tuesday, June 10, 2014 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
emcdonald on DSK67QTVN1PROD with NOTICES
1. Purpose
The purpose of this filing is to modify
the Exchange’s fees so as to provide a
discount to LMMs that have a large
number of issues in their LMM
Allocation.
Currently, LMMs pay a Lead Market
Maker Rights fee on each issue in their
allocation, ranging from $45 per month
to $1,500 per month, depending on the
activity level in the issue. The Monthly
Issue Fee is based on the Average
National Daily Customer Contracts.
The Exchange is proposing that LMMs
that have been allocated 400 or more
issues receive a 50% discount in total
Lead Market Maker Rights fees, from
June 1, 2014 through December 31,
2014.
At the present time, there are
approximately 2,600 different
underlying issues listed on NYSE Arca
Options. The Exchange regularly
receives five to 10 requests to list new
issues each week. The Exchange then
surveys the LMM community to invite
applications for allocation. At present,
most surveys only receive one or two
responses per issue, and a key factor in
applying for allocation is the
profitability of trading in an issue given
the anticipated rights fee.
The Exchange believes that by
providing a discount to LMM firms that
have a large number of issues allocated
to them will encourage LMM firms to
apply for additional allocations. NYSE
Arca proposes to have this discount in
effect for the balance of the year,
reverting back to the current total
amount for all firms in January 2015.
NYSE Arca is not proposing any
additional changes to Floor and
Equipment Fees with this filing.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,4 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,5 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 discount on Lead Market
Maker Rights fees is reasonable as it will
reduce the overhead costs of LMM firms
with a large number of issues in their
allocation. In addition, the proposed
discount is reasonable because it will
help some LMMs meet their obligation
to provide liquidity in a diverse
selection of issues. The increased
number of issues in their allocation will
allow LMM firms to spread their risk
across different industry sectors.
It is also not unfairly discriminatory
to provide a discount to LMM firms
because the reduced overhead costs will
enhance the ability of LMMs to provide
liquidity which will benefit all market
participants.
The discount is also not unfairly
discriminatory because it is available to
any LMM firm that wishes to apply for
appointment in a large number of
issues.
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,6 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 that the
proposed discount reduces the burden
on competition because it will enhance
the ability for LMM firms to quote
competitively in more issues.
The Exchange notes that it operates in
a highly competitive market in which
market participants can readily favor
competing venues, and providing a
discount on LMM Rights fees will allow
LMM Firms to both expand the number
of issues allocated to them and to
reduce the overhead, which, in turn,
encourages liquidity to compete for
business. In such an environment, the
Exchange must continually review, and
consider adjusting, its fees and credits
to remain competitive with other
exchanges. For the reasons described
above, the Exchange believes that the
proposed rule change reflects this
competitive environment.
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) 7 of the Act and
subparagraph (f)(2) of Rule 19b–4 8
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) 9 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEArca–2014–63 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–NYSEArca–2014–63. 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/
7 15
U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4) and (5).
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
9 15 U.S.C. 78s(b)(2)(B).
4 15
VerDate Mar<15>2010
16:55 Jun 09, 2014
8 17
6 15
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Federal Register / Vol. 79, No. 111 / Tuesday, June 10, 2014 / Notices
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–
NYSEArca–2014–63, and should be
submitted on or before July 1, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–13456 Filed 6–9–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72313; File No. SR–
NYSEMKT–2014–48]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Rule
900.3NY(d)(3) in Order To Delete
Reserve Orders and References
Thereto From the Rules
emcdonald on DSK67QTVN1PROD with NOTICES
June 4, 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 May 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 and II
below, which Items have been prepared
by the self-regulatory organization. The
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to amend
Rule 900.3NY(d)(3) in order to delete
Reserve Orders and references thereto
from the rules. 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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange hereby proposes to
amend Rule 900.3NY(d)(3) to delete
‘‘Reserve Order’’ as an order type. The
proposed rule change mirrors a similar
deletion by the NASDAQ Options
Market (‘‘NOM’’).4 Reserve Orders are
limit orders that have both a displayed
size as well as an additional nondisplayed amount. Both the displayed
and non-displayed portions of a Reserve
Order are available for potential
execution against incoming orders. If
the displayed portion of a Reserve Order
is fully executed, the System will
replenish the displayed portion from the
reserve up to the size of the original
displayed amount. A new timestamp is
created for the replenished portion of
the order each time it is replenished
from reserve, while the reserve portion
retains the time-stamp of its original
entry. Due to a lack of demand for
Reserve Orders, the Exchange proposes
to discontinue functionality supporting
the order type. Accordingly, the
Exchange proposes to delete the
10 17
1 15
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16:55 Jun 09, 2014
4 See Securities Exchange Act Release No. 65873
(December 2, 2011); 76 FR 76786 (December 8,
2011) (SR–NASDAQ–2011–164).
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33249
definition of Reserve Order from Rule
900.3NY(d)(3).
The Exchange also proposes to make
corresponding amendments to Rules
935NY Commentary .06,
964NY(b)(2)(A), 964NY(c)(2)(A),
964NY(c)(2)(D), 964NY(c)(2)(E)(iii) and
971.1NY(c)(5)(E) in order to remove
references to Reserve Orders. No
substantive changes are being proposed
to these rules themselves. The Exchange
will announce the implementation date
of this change through a Trader Update.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and furthers the
objectives of Section 6(b)(5),6 in
particular, in that it is 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 facilitating
transactions in securities, and to remove
impediments to and perfect the
mechanism of a free and open market
and a national market system.
Specifically, the Exchange believes that,
by eliminating a little-used order type
and making corresponding changes to
the rules, the proposal will remove
impediments to and perfect the
mechanisms of a free and open market
and add transparency and clarity to the
Exchange’s rules. The Exchange further
believes that deleting corresponding
references to a deleted order type also
removes impediments to and perfects
the mechanism of a free and open
market by ensuring that members,
regulators and the public can more
easily navigate the Exchange’s rulebook
and better understand the orders types
available for trading on the Exchange.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
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. Specifically,
the Exchange believes that the proposed
rule change will relieve a burden on
competition by following another
options market in no longer offering a
seldom used rule type. In doing so, the
proposed rule change will also serve to
promote regulatory clarity and
consistency, thereby reducing burdens
on the marketplace and facilitating
investor protection.
5 15
6 15
E:\FR\FM\10JNN1.SGM
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
10JNN1
]]>Agencies
[Federal Register Volume 79, Number 111 (Tuesday, June 10, 2014)]
[Notices]
[Pages 33247-33249]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-13456]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-72312; File No. SR-NYSEArca-2014-63]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending the NYSE
Arca Options Fee Schedule Relating to Lead Market Maker Rights Fees
June 4, 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 May 23, 2014, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') 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 the
Substance of the Proposed Rule Change
The Exchange proposes to amend the NYSE Arca Options Fee Schedule
(``Fee Schedule'') relating to Lead Market Maker (``LMM'') Rights fees.
The Exchange proposes to implement the fee change effective June 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.
[[Page 33248]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of this filing is to modify the Exchange's fees so as
to provide a discount to LMMs that have a large number of issues in
their LMM Allocation.
Currently, LMMs pay a Lead Market Maker Rights fee on each issue in
their allocation, ranging from $45 per month to $1,500 per month,
depending on the activity level in the issue. The Monthly Issue Fee is
based on the Average National Daily Customer Contracts.
The Exchange is proposing that LMMs that have been allocated 400 or
more issues receive a 50% discount in total Lead Market Maker Rights
fees, from June 1, 2014 through December 31, 2014.
At the present time, there are approximately 2,600 different
underlying issues listed on NYSE Arca Options. The Exchange regularly
receives five to 10 requests to list new issues each week. The Exchange
then surveys the LMM community to invite applications for allocation.
At present, most surveys only receive one or two responses per issue,
and a key factor in applying for allocation is the profitability of
trading in an issue given the anticipated rights fee.
The Exchange believes that by providing a discount to LMM firms
that have a large number of issues allocated to them will encourage LMM
firms to apply for additional allocations. NYSE Arca proposes to have
this discount in effect for the balance of the year, reverting back to
the current total amount for all firms in January 2015.
NYSE Arca is not proposing any additional changes to Floor and
Equipment Fees with this filing.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\4\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\5\ 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.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed discount on Lead Market
Maker Rights fees is reasonable as it will reduce the overhead costs of
LMM firms with a large number of issues in their allocation. In
addition, the proposed discount is reasonable because it will help some
LMMs meet their obligation to provide liquidity in a diverse selection
of issues. The increased number of issues in their allocation will
allow LMM firms to spread their risk across different industry sectors.
It is also not unfairly discriminatory to provide a discount to LMM
firms because the reduced overhead costs will enhance the ability of
LMMs to provide liquidity which will benefit all market participants.
The discount is also not unfairly discriminatory because it is
available to any LMM firm that wishes to apply for appointment in a
large number of issues.
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,\6\ 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 that the proposed discount
reduces the burden on competition because it will enhance the ability
for LMM firms to quote competitively in more issues.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues, and
providing a discount on LMM Rights fees will allow LMM Firms to both
expand the number of issues allocated to them and to reduce the
overhead, which, in turn, encourages liquidity to compete for business.
In such an environment, the Exchange must continually review, and
consider adjusting, its fees and credits to remain competitive with
other exchanges. For the reasons described above, the Exchange believes
that the proposed rule change reflects this competitive environment.
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) \7\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \8\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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) \9\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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-NYSEArca-2014-63 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-NYSEArca-2014-63. 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/
[[Page 33249]]
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-
NYSEArca-2014-63, and should be submitted on or before July 1, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-13456 Filed 6-9-14; 8:45 am]
BILLING CODE 8011-01-P
