Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Order Granting Approval of Proposed Rule Change, as Modified by Amendment No. 1, Relating to SPY and DIA Options, 53089-53090 [2014-21122]

Download as PDF Federal Register / Vol. 79, No. 172 / Friday, September 5, 2014 / Notices 2. Pursuant to 39 U.S.C. 505, Curtis E. Kidd is appointed to serve as an officer of the Commission to represent the interests of the general public in these proceedings (Public Representative). 3. Comments are due no later than September 8, 2014. 4. The Secretary shall arrange for publication of this order in the Federal Register. By the Commission. Ruth Ann Abrams, Acting Secretary. [FR Doc. 2014–21105 Filed 9–4–14; 8:45 am] BILLING CODE 7710–FW–P DATES: Effective date: September 5, 2014. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on August 28, 2014, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add Priority Mail Express Contract 19 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2014–41, CP2014–74. Stanley F. Mires, Attorney, Federal Requirements. POSTAL SERVICE [FR Doc. 2014–21199 Filed 9–4–14; 8:45 am] Product Change—First-Class Package Service Negotiated Service Agreement Postal ServiceTM. Notice. BILLING CODE 7710–12–P AGENCY: ACTION: SECURITIES AND EXCHANGE COMMISSION The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. DATES: Effective Date: September 5, 2014. FOR FURTHER INFORMATION CONTACT: Elizabeth A. Reed, 202–268–3179. SUPPLEMENTARY INFORMATION: The United States Postal Service® hereby gives notice that, pursuant to 39 U.S.C. 3642 and 3632(b)(3), on August 28, 2014, it filed with the Postal Regulatory Commission a Request of the United States Postal Service to Add First-Class Package Service Contract 37 to Competitive Product List. Documents are available at www.prc.gov, Docket Nos. MC2014–42, CP2014–75. SUMMARY: Stanley F. Mires, Attorney, Federal Requirements. [FR Doc. 2014–21196 Filed 9–4–14; 8:45 am] BILLING CODE 7710–12–P POSTAL SERVICE Product Change—Priority Mail Express Negotiated Service Agreement rmajette on DSK2TPTVN1PROD with NOTICES August 29, 2014. I. Introduction On July 9, 2014, NASDAQ OMX PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’),2 and Rule 19b–4 thereunder,3 a proposed rule change to allow $1 or greater strike price intervals for options on the SPDR® S&P 500® Exchange Traded Fund (‘‘SPY’’) and the SPDR® Dow Jones® Industrial Average Exchange Traded Fund (‘‘DIA’’) for strike prices above $200. On July 22, 2014, the Exchange filed Amendment No. 1 to the proposal. The proposed rule change, as modified by Amendment No. 1, was published for comment in the Federal Register on July 30, 2014.4 The Commission received three comment letters on the proposal.5 This order U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 4 See Securities Exchange Act Release No. 72664 (July 24, 2014), 79 FR 44231 (‘‘Notice’’). 5 See letters to Elizabeth M. Murphy, Secretary, Commission, from Joseph Burtnick, dated July 28, 2014; Michael, dated August 26, 2014; and Colin J. Gerrard, dated August 28, 2014. All three commenters supported the approval of the proposal because it would enhance market participation in SPY options. 2 15 The Postal Service gives notice of filing a request with the Postal Regulatory Commission to add a domestic shipping services contract to the list of Negotiated Service Agreements in the Mail Classification Schedule’s Competitive Products List. SUMMARY: 14:29 Sep 04, 2014 Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Order Granting Approval of Proposed Rule Change, as Modified by Amendment No. 1, Relating to SPY and DIA Options 1 15 Postal ServiceTM. ACTION: Notice. AGENCY: VerDate Mar<15>2010 [Release No. 34–72949; File No. SR–Phlx– 2014–46] Jkt 232001 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 53089 approves the proposed rule change, as modified by Amendment No. 1. II. Description of the Proposed Rule Change Under current Phlx Rule 1012 (Series of Options Open for Trading), the interval of strike prices of series of options on Exchange Traded Fund (‘‘ETF’’) Shares is $1 or greater where the strike price is $200 or less and $5 or greater where the strike price is more than $200.6 The Exchange proposes to narrow those strike intervals by amending Commentary .05(a)(iv)(C) to Rule 1012 to allow trading of SPY and DIA options in $1 strike intervals where the strike price is above $200. With regard to the impact of the proposal on system capacity, the Exchange states that it has analyzed its capacity and represents that it and the Options Price Reporting Authority (‘‘OPRA’’) have the necessary systems capacity to handle any potential additional traffic associated with this proposed rule change.7 In addition, the Exchange states that it believes that its members will not experience a capacity issue as a result of this proposal.8 Furthermore, the Exchange states that it does not believe the proposed rule change will cause fragmentation of liquidity.9 III. Discussion and Commission Findings After careful review, the Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.10 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act,11 which requires, among other things, that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts, 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. The Commission believes that the proposed change may provide the investing public and other market participants more flexibility to closely tailor their investment and 6 See 7 See Commentary .05(a)(iv)(A) to Rule 1012. Notice, supra note 4, at 44232. 8 Id. 9 Id. 10 In approving the proposed rule change, the Commission has considered its impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 11 15 U.S.C. 78f(b)(5). E:\FR\FM\05SEN1.SGM 05SEN1 53090 Federal Register / Vol. 79, No. 172 / Friday, September 5, 2014 / Notices hedging decisions in SPY and DIA options, thus allowing them to better manage their risk exposure. In approving this proposal, the Commission notes that the Exchange has represented that it and OPRA have the necessary systems capacity to handle the potential additional traffic associated with this proposed rule change.12 The Exchange further stated that it believes its members will not have a capacity issue as a result of the proposal and that it does not believe this expansion will cause fragmentation of liquidity.13 or about January 4, 2015, and at possible additional exhibitions or venues yet to be determined, is in the national interest. I have ordered that Public Notice of these Determinations be published in the Federal Register. FOR FURTHER INFORMATION CONTACT: For further information, including a list of the imported objects, contact Paul W. Manning, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202–632–6469). The mailing address is U.S. Department of State, SA–5, L/PD, Fifth Floor (Suite 5H03), Washington, DC 20522–0505. IV. Conclusion Dated: August 28, 2014. Kelly Keiderling, Principal Deputy Assistant Secretary, Bureau of Educational and Cultural Affairs, Department of State. It is therefore ordered, pursuant to Section 19(b)(2) of the Act 14 that the proposed rule change (SR–Phlx–2014– 46), as modified by Amendment No. 1, be, and hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–21122 Filed 9–4–14; 8:45 am] [FR Doc. 2014–21184 Filed 9–4–14; 8:45 am] BILLING CODE 4710–05–P [Public Notice 8859] [Public Notice 8860] SUMMARY: Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of Authority No. 234 of October 1, 1999, and Delegation of Authority No. 236–3 of August 28, 2000 (and, as appropriate, Delegation of Authority No. 257 of April 15, 2003), I hereby determine that the objects to be included in the exhibition ‘‘Atua: Sacred Gods from Polynesia,’’ imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to loan agreements with the foreign owners or custodians. I also determine that the exhibition or display of the exhibit objects at the Saint Louis Art Museum, St. Louis, Missouri, from on or about October 12, 2014, until on rmajette on DSK2TPTVN1PROD with NOTICES SUMMARY: 12 See Notice, supra note 4, at 44232. 13 Id. 14 15 U.S.C. 78f(b)(2). 15 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 14:29 Sep 04, 2014 Jkt 232001 [FR Doc. 2014–21183 Filed 9–4–14; 8:45 am] BILLING CODE 4710–05–P OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE Updated Membership Criteria for the Trade and Environment Policy Advisory Committee Office of the United States Trade Representative. ACTION: Amendment of Membership Criteria. DEPARTMENT OF STATE Culturally Significant Objects Imported for Exhibition Determinations: ‘‘Atua: Sacred Gods From Polynesia’’ Dated: August 28, 2014. Kelly Keiderling, Principal Deputy Assistant Secretary, Bureau of Educational and Cultural Affairs, Department of State. AGENCY: DEPARTMENT OF STATE Culturally Significant Objects Imported for Exhibition Determinations: ‘‘Curious Beasts: Animal Prints From ¨ Durer to Goya From The British Museum’’ BILLING CODE 8011–01–P the imported objects, contact Paul W. Manning, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202–632–6469). The mailing address is U.S. Department of State, SA–5, L/PD, Fifth Floor (Suite 5H03), Washington, DC 20522–0505. Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of Authority No. 234 of October 1, 1999, and Delegation of Authority No. 236–3 of August 28, 2000 (and, as appropriate, Delegation of Authority No. 257 of April 15, 2003), I hereby determine that the objects to be included in the exhibition ‘‘Curious ¨ Beasts: Animal Prints from Durer to Goya from The British Museum,’’ imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to a loan agreement with the foreign owner or custodian. I also determine that the exhibition or display of the exhibit objects at the University of San Diego, University Galleries, San Diego, California, from on or about October 3, 2014, until on or about December 14, 2014, and at possible additional exhibitions or venues yet to be determined, is in the national interest. I have ordered that Public Notice of these Determinations be published in the Federal Register. FOR FURTHER INFORMATION CONTACT: For further information, including a list of PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 This notice amends the membership eligibility criteria for the Trade and Environment Policy Advisory Committee (TEPAC) pursuant to the Revised Guidance on the Appointment of Lobbyists to Federal Advisory Committees, Boards and Commissions, published by the Office of Management and Budget (OMB) on August 13, 2014. Federally-registered lobbyists no longer are prohibited from serving on the TEPAC in a representative capacity in light of OMB’s recent policy clarification that the eligibility restriction does not apply to advisory committee members who are specifically appointed to represent the interests of a nongovernmental entity, a recognizable group of persons or nongovernmental entities (an industry sector, labor unions, environmental groups, etc.), or state or local governments. The lobbyist prohibition continues to apply to persons serving on advisory committees in their individual capacity. All other eligibility criteria continue to apply. DATES: These updated membership criteria are effective immediately. FOR FURTHER INFORMATION CONTACT: Julia Friedman, Attorney-Advisor for the Office of the U.S. Trade Representative’s Office of Intergovernmental Affairs and Public Engagement, at (202) 395–6120. SUPPLEMENTARY INFORMATION: SUMMARY: Background Section 135 of the Trade Act of 1974, as amended (19 U.S.C. 2155), established a trade advisory system to E:\FR\FM\05SEN1.SGM 05SEN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 79, Number 172 (Friday, September 5, 2014)]
[Notices]
[Pages 53089-53090]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-21122]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72949; File No. SR-Phlx-2014-46]


Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Order 
Granting Approval of Proposed Rule Change, as Modified by Amendment No. 
1, Relating to SPY and DIA Options

August 29, 2014.

I. Introduction

    On July 9, 2014, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission''), 
pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 
(``Act''),\2\ and Rule 19b-4 thereunder,\3\ a proposed rule change to 
allow $1 or greater strike price intervals for options on the 
SPDR[supreg] S&P 500[supreg] Exchange Traded Fund (``SPY'') and the 
SPDR[supreg] Dow Jones[supreg] Industrial Average Exchange Traded Fund 
(``DIA'') for strike prices above $200. On July 22, 2014, the Exchange 
filed Amendment No. 1 to the proposal. The proposed rule change, as 
modified by Amendment No. 1, was published for comment in the Federal 
Register on July 30, 2014.\4\ The Commission received three comment 
letters on the proposal.\5\ This order approves the proposed rule 
change, as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 72664 (July 24, 
2014), 79 FR 44231 (``Notice'').
    \5\ See letters to Elizabeth M. Murphy, Secretary, Commission, 
from Joseph Burtnick, dated July 28, 2014; Michael, dated August 26, 
2014; and Colin J. Gerrard, dated August 28, 2014. All three 
commenters supported the approval of the proposal because it would 
enhance market participation in SPY options.
---------------------------------------------------------------------------

II. Description of the Proposed Rule Change

    Under current Phlx Rule 1012 (Series of Options Open for Trading), 
the interval of strike prices of series of options on Exchange Traded 
Fund (``ETF'') Shares is $1 or greater where the strike price is $200 
or less and $5 or greater where the strike price is more than $200.\6\ 
The Exchange proposes to narrow those strike intervals by amending 
Commentary .05(a)(iv)(C) to Rule 1012 to allow trading of SPY and DIA 
options in $1 strike intervals where the strike price is above $200.
---------------------------------------------------------------------------

    \6\ See Commentary .05(a)(iv)(A) to Rule 1012.
---------------------------------------------------------------------------

    With regard to the impact of the proposal on system capacity, the 
Exchange states that it has analyzed its capacity and represents that 
it and the Options Price Reporting Authority (``OPRA'') have the 
necessary systems capacity to handle any potential additional traffic 
associated with this proposed rule change.\7\ In addition, the Exchange 
states that it believes that its members will not experience a capacity 
issue as a result of this proposal.\8\ Furthermore, the Exchange states 
that it does not believe the proposed rule change will cause 
fragmentation of liquidity.\9\
---------------------------------------------------------------------------

    \7\ See Notice, supra note 4, at 44232.
    \8\ Id.
    \9\ Id.
---------------------------------------------------------------------------

III. Discussion and Commission Findings

    After careful review, the Commission finds that the proposed rule 
change is consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities 
exchange.\10\ In particular, the Commission finds that the proposed 
rule change is consistent with Section 6(b)(5) of the Act,\11\ which 
requires, among other things, that the rules of a national securities 
exchange be designed to promote just and equitable principles of trade, 
to prevent fraudulent and manipulative acts, 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. The Commission believes that the proposed change may provide 
the investing public and other market participants more flexibility to 
closely tailor their investment and

[[Page 53090]]

hedging decisions in SPY and DIA options, thus allowing them to better 
manage their risk exposure.
---------------------------------------------------------------------------

    \10\ In approving the proposed rule change, the Commission has 
considered its impact on efficiency, competition, and capital 
formation. See 15 U.S.C. 78c(f).
    \11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In approving this proposal, the Commission notes that the Exchange 
has represented that it and OPRA have the necessary systems capacity to 
handle the potential additional traffic associated with this proposed 
rule change.\12\ The Exchange further stated that it believes its 
members will not have a capacity issue as a result of the proposal and 
that it does not believe this expansion will cause fragmentation of 
liquidity.\13\
---------------------------------------------------------------------------

    \12\ See Notice, supra note 4, at 44232.
    \13\ Id.
---------------------------------------------------------------------------

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act 
\14\ that the proposed rule change (SR-Phlx-2014-46), as modified by 
Amendment No. 1, be, and hereby is, approved.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-21122 Filed 9-4-14; 8:45 am]
BILLING CODE 8011-01-P

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