Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Exercise Limits, 35623-35625 [2014-14536]
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Federal Register / Vol. 79, No. 120 / Monday, June 23, 2014 / Notices
regarding each Fund’s Intraday
Indicative Values and Underlying
Benchmark, as well as quotation and
last sale information for each Fund’s
Paired Class Shares.
The proposed rule change is designed
to perfect the mechanism of a free and
open market and, in general, to protect
investors and the public interest in that
it will facilitate the listing and trading
of an additional type of exchange-traded
product that will enhance competition
among market participants, to the
benefit of investors and the marketplace.
In addition, as noted above, investors
will have ready access to information
regarding each Fund’s Intraday
Indicative Values and Underlying
Benchmark, as well as quotation and
last sale information for each Fund’s
Paired Class Shares.
For the above reasons, NASDAQ
believes the proposed rule change is
consistent with the requirements of
Section 6(b)(5) of the Act.
emcdonald on DSK67QTVN1PROD with NOTICES
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 not
necessary or appropriate in furtherance
of the purposes of the Act. To the
contrary, the Exchange believes that no
burden exists in that no other Exchange
has a listing rule regarding this product.
Paired Class Shares represent a
significant improvement over a product
that is no longer traded, PTS, because of
the periodic distributions, periodic
index resets, and active market
monitoring of Paired Class Shares.
These unique factors allow Paired Class
Shares to provide investors with: (i) A
reduction of persistent or cumulative
deviations in share trading price to
actual index performance; (ii) improved
correlations over the life of the
securities between percentage changes
in the index and the percentage changes
in the share price of the shares; and (iii)
significant reduction of the need to
liquidate the issuer in response to large
movements in its related index, which
represent significant benefits to traders
and investors.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 days of the date of
publication of this notice in the Federal
VerDate Mar<15>2010
17:33 Jun 20, 2014
Jkt 232001
Register or within such longer period
up to 90 days after publication (i) as the
Commission may designate 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:
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–2014–065 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–2014–065. 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
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
35623
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NASDAQ–2014–065, and should be
submitted on or before July 14, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.60
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–14540 Filed 6–20–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72406; File No. SR–BX–
2014–033]
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to
Exercise Limits
June 17, 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 June 11,
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
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to correct rule
text related to an options rule at Chapter
III, Section 9, pertaining to Exercise
Limits.
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
60 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\23JNN1.SGM
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35624
Federal Register / Vol. 79, No. 120 / Monday, June 23, 2014 / Notices
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
emcdonald on DSK67QTVN1PROD with NOTICES
1. Purpose
The purpose of the proposed rule
change is to amend an error in rule text
in Chapter III, Section 9 (Exercise
Limits) that was inadvertently inserted
into a recent rule change.3 The
Exchange recently amended rules
pertaining to the trading of options
overlying NASDAQ OMX PHLX LLC
(‘‘Phlx’’) proprietary indexes and Phlx
U.S. Dollar-Settled Foreign Currencies
on BX.4 Specifically, the Exchange
amended the exercise rules at Section 9
of Chapter III to provide that, ‘‘no
Options Participant shall exercise, for
any account in which it has an interest
or for the account of any Customer, a
long position in any options contract
where such Options Participant or
Customer, acting alone or in concert
with others, directly or indirectly, has or
will have . . . exceed the applicable
position limit fixed from time-to-time by
PHLX with respect to U.S. DollarSettled Foreign Currency Options.’’ 5
The word ‘‘position’’ should have
instead referred to ‘‘exercise’’ because
the rule is applicable to exercise limits.
The Exchange is proposing to correct
this error in rule text to avoid confusion.
Additionally, the Exchange is
proposing to amend the word ‘‘exceed’’
in two places in the rule to ‘‘exceeded’’
for consistency.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 6 in general, and furthers the
objectives of Section 6(b)(5) of the Act 7
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, to remove
impediments to and perfect the
mechanism of a free and open market
3 See Securities Exchange Act Release No. 71977
(April 21, 2014), 79 FR 23023 (April 25, 2014) (SR–
BX–2014–019).
4 Id.
5 Id.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
VerDate Mar<15>2010
17:33 Jun 20, 2014
Jkt 232001
and a national market system and, in
general, to protect investors and the
public interest.
The Exchange believes that correcting
the error in the rule text will make the
rule clear to Participants. The insertion
of the word ‘‘position’’ was in error as
the rule relates to exercise limits. The
Exchange’s proposal to amend the word
to ‘‘exercise’’ will correct this error.
Also, amending the words ‘‘exceed’’ to
‘‘exceeded’’ within the rule text will
conform the wording in the rule for
clarity.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
The proposed rule change seeks to
correct an error in rule text and make
other clarifying changes to conform rule
text to avoid confusion.
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.
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 8 and Rule 19b–
4(f)(6) thereunder.9 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, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 10 and Rule 19b–
4(f)(6) thereunder.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
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
10 15 U.S.C. 78s(b)(3)(A).
11 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.
9 17
PO 00000
Frm 00113
Fmt 4703
Sfmt 4703
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved. The
Exchange has provided the Commission
written notice of its 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.
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–
BX–2014–033 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–BX–2014–033. 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
E:\FR\FM\23JNN1.SGM
23JNN1
35625
Federal Register / Vol. 79, No. 120 / Monday, June 23, 2014 / Notices
submissions. You should submit only
information that you wish to make
available publicly.
All submissions should refer to File
Number SR–BX–2014–033 and should
be submitted on or before July 14, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–14536 Filed 6–20–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72408; File No. SR–MIAX–
2014–28]
Self-Regulatory Organizations: Notice
of Filing of a Proposed Rule Change by
Miami International Securities
Exchange LLC To Amend Rule 515
June 17, 2014.
Pursuant to the provisions of 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 June 5, 2014, Miami International
Securities Exchange LLC (‘‘MIAX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) a proposed rule change
as described in Items I, II, and III below,
which Items have been prepared by the
Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
emcdonald on DSK67QTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing a proposal to
amend Exchange Rule 515.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.miaxoptions.com/filter/
wotitle/rule_filing, at MIAX’s principal
office, 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
12 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Mar<15>2010
17:33 Jun 20, 2014
Jkt 232001
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Rule 515(c)(2) in order to provide that
the liquidity refresh pause will be
terminated early and normal trading
will resume if during a liquidity refresh
pause, the ABBO on the same side of the
market as the initiating order crosses the
original NBBO price on the opposite
side of the market. The proposed change
is designed to codify existing
functionality during the liquidity
refresh pause. The proposed change will
allow the liquidity refresh pause to
terminate and normal trading resume
without delay, thus freeing up the
initiating order and any same side
joiners received during the timer, when
the market has changed in a manner that
renders the initiating order and same
side joiners no longer marketable. Once
normal trading resumes, the initiating
order and any same side joiners held
within the liquidity refresh pause would
be free to compete for executions with
the new revised same side ABBO at
additional price points which may lead
to additional execution opportunities.
The following examples describe how
a new revised same side ABBO that
crosses the original NBBO on the
opposite side of the market will
terminate the Liquidity Refresh Pause
early.
EXAMPLE 1—SAME SIDE ABBO TERMINATES THE LIQUIDITY REFRESH
PAUSE EARLY
Market
ABBO
PLMM
LMM 1
LMM 2
RMM 1
Bid
1.00
1.00
1.00
1.00
1.00
(10)
(10)
(10)
(10)
(10)
Ask
1.14
1.10
1.12
1.15
1.16
(10)
(10)
(10)
(10)
(10)
• Order 1: Buy limit of 1.13 for 20
contacts with a price protection
instruction of 3 MPVs
• NBBO at time of arrival = 1.00 (50)
× 1.10 (10)
• Order 1 is price protected at 1.13
(which is 1.10 + 3 MPV = 1.13)
Æ Order 1 trades 10 contracts with
PLMM @1.10
Æ Liquidity Refresh Pause is triggered
because the MBO of 1.10 was alone at
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
NBBO and PLMM’s 1.10 offer was
exhausted
D MBBO 1.10 (10) × 1.12 (10)
D Liquidity Refresh message is
broadcasted on the Exchange’s data
feeds: Buy 10 contracts, exhausted MBO
of 1.10
Æ ABB updates to 1.12 for 10
contracts; ABBO = 1.12 (10) × 1.14 (10)
Æ Liquidity Refresh Pause is
terminated early due to the ABB
improving the original NBO of 1.10.
Æ Order 1 trades 10 contracts with
LMM1 @1.12. Order 1 has been fully
executed.
Æ New MBBO: 1.00 (40) × 1.15 (10).
New NBBO: 1.12(10) × 1.15(10)
EXAMPLE 2—SAME SIDE ABBO TERMINATES THE LIQUIDITY REFRESH
PAUSE EARLY
Market
ABBO
PLMM
LMM 1
LMM 2
RMM 1
Bid
1.00
1.00
1.00
1.00
1.00
(10)
(10)
(10)
(10)
(10)
Ask
1.14
1.10
1.12
1.15
1.16
(10)
(10)
(20)
(10)
(10)
• Order 1: Buy limit of 1.13 for 20
contacts with a price protection
instruction of 3 MPVs
• NBBO at time of arrival = 1.00 (50)
× 1.10 (10)
• Order 1 is price protected at 1.13
(which is 1.10 + 3 MPV = 1.13)
Æ Order 1 trades 10 contracts with
PLMM @1.10
Æ Liquidity Refresh Pause is triggered
because the MBO of 1.10 was alone at
NBBO and PLMM’s 1.10 offer was
exhausted
D MBBO 1.10 (10) × 1.12 (20)
D Liquidity Refresh message is
broadcasted on the Exchange’s data
feeds: Buy 10 contracts, exhausted MBO
of 1.10 3
Æ ABB updates to 1.12 for 10
contracts; ABBO = 1.12 (10) × 1.14 (10)
Æ Liquidity Refresh Pause is
terminated early due to the ABB
improving the original NBO of 1.10.
Æ Order 1 trades 10 contracts with
LMM1 @1.12. Order 1 has been fully
executed.
Æ LMM1’s remaining 10 contracts
would be managed and reposted as firm
at 1.13. New MBBO: 1.00 (40) × 1.13
(10). New NBBO: 1.12(10) × 1.13(10)
As mentioned above, the proposed
change is designed to codify existing
functionality that terminates the
liquidity refresh pause early if during a
liquidity refresh pause, the ABBO on
3 Note that the pricing information contained in
the Liquidity Refresh message (Buy 10 contracts,
exhausted MBO of 1.10) corresponds to the MBB
(1.10 (10)).
E:\FR\FM\23JNN1.SGM
23JNN1
]]>Agencies
[Federal Register Volume 79, Number 120 (Monday, June 23, 2014)]
[Notices]
[Pages 35623-35625]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-14536]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-72406; File No. SR-BX-2014-033]
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Exercise Limits
June 17, 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 June 11, 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 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
The Exchange proposes to correct rule text related to an options
rule at Chapter III, Section 9, pertaining to Exercise Limits.
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
[[Page 35624]]
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to amend an error in
rule text in Chapter III, Section 9 (Exercise Limits) that was
inadvertently inserted into a recent rule change.\3\ The Exchange
recently amended rules pertaining to the trading of options overlying
NASDAQ OMX PHLX LLC (``Phlx'') proprietary indexes and Phlx U.S.
Dollar-Settled Foreign Currencies on BX.\4\ Specifically, the Exchange
amended the exercise rules at Section 9 of Chapter III to provide that,
``no Options Participant shall exercise, for any account in which it
has an interest or for the account of any Customer, a long position in
any options contract where such Options Participant or Customer, acting
alone or in concert with others, directly or indirectly, has or will
have . . . exceed the applicable position limit fixed from time-to-time
by PHLX with respect to U.S. Dollar-Settled Foreign Currency Options.''
\5\ The word ``position'' should have instead referred to ``exercise''
because the rule is applicable to exercise limits. The Exchange is
proposing to correct this error in rule text to avoid confusion.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 71977 (April 21,
2014), 79 FR 23023 (April 25, 2014) (SR-BX-2014-019).
\4\ Id.
\5\ Id.
---------------------------------------------------------------------------
Additionally, the Exchange is proposing to amend the word
``exceed'' in two places in the rule to ``exceeded'' for consistency.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and furthers the objectives of Section
6(b)(5) of the Act \7\ 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, 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.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that correcting the error in the rule text
will make the rule clear to Participants. The insertion of the word
``position'' was in error as the rule relates to exercise limits. The
Exchange's proposal to amend the word to ``exercise'' will correct this
error. Also, amending the words ``exceed'' to ``exceeded'' within the
rule text will conform the wording in the rule for clarity.
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act. The proposed rule change seeks to correct an error in rule
text and make other clarifying changes to conform rule text to avoid
confusion.
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.
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 \8\ and Rule 19b-4(f)(6) thereunder.\9\ 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, it has become effective pursuant to
Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6)
thereunder.\11\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6).
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 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.
---------------------------------------------------------------------------
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. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
The Exchange has provided the Commission written notice of its 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.
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-BX-2014-033 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-BX-2014-033. 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
[[Page 35625]]
submissions. You should submit only information that you wish to make
available publicly.
All submissions should refer to File Number SR-BX-2014-033 and
should be submitted on or before July 14, 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. 2014-14536 Filed 6-20-14; 8:45 am]
BILLING CODE 8011-01-P
