Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Commentary .02 to NYSE Amex Options Rule 960NY in Order To Extend the Penny Pilot in Options Classes in Certain Issues Through June 30, 2015, 73922-73924 [2014-29103]
Download as PDF
73922
Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices
activities as a DCO clearing swaps that
are not security-based swaps, futures
that are not security futures and
forwards that are not security forwards.
CME notes that the policies of the CFTC
with respect to administering the
Commodity Exchange Act are
comparable to a number of the policies
underlying the Exchange Act, such as
promoting market transparency for overthe-counter derivatives markets,
promoting the prompt and accurate
clearance of transactions and protecting
investors and the public interest.
Because the proposed change is
limited in its effect to products offered
under CME’s authority to act as a DCO,
the proposed change is properly
classified as effecting a change in an
existing service of CME that:
(a) Primarily affects the clearing
operations of CME with respect to
products that are not securities,
including futures that are not security
futures, swaps that are not securitybased swaps or mixed swaps; and
forwards that are not security forwards;
and
(b) does not significantly affect any
securities clearing operations of CME or
any rights or obligations of CME with
respect to securities clearing or persons
using such securities-clearing service.
As such, the change is therefore
consistent with the requirements of
Section 17A of the Exchange Act 7 and
are properly filed under Section
19(b)(3)(A) 8 and Rule 19b–4(f)(4)(ii) 9
thereunder.
mstockstill on DSK4VPTVN1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CME does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition. The proposed amendment
would simply establish independent
position accountability levels for CME’s
USD Malaysian Crude Palm Oil
Calendar Swap. Further, the change is
limited to CME’s derivatives clearing
business and, as such, does not affect
security-based swap clearing activities
of CME in any way and therefore would
not impose any burden on competition
that is inappropriate 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
CME has not solicited, and does not
intend to solicit, comments regarding
this proposed rule change. CME has not
U.S.C. 78q–1.
8 15 U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f)(4)(ii).
received any unsolicited written
comments from interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A) 10 of the Act and paragraph
(f)(4)(ii) of Rule 19b–4 11 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.
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 No. SR–
CME–2014–54 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–CME–2014–54. 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.,
7 15
VerDate Sep<11>2014
16:57 Dec 11, 2014
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 CME and on CME’s Web site at
https://www.cmegroup.com/marketregulation/rule-filings.html.
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–CME–2014–54 and should
be submitted on or before January 2,
2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–29178 Filed 12–11–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73778; File No. SR–
NYSEMKT–2014–99]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Commentary
.02 to NYSE Amex Options Rule 960NY
in Order To Extend the Penny Pilot in
Options Classes in Certain Issues
Through June 30, 2015
December 8, 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 November
26, 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, II, and III below, which Items
have been prepared by the selfregulatory 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 Substance of
the Proposed Rule Change
The Exchange proposes to amend
Commentary .02 to NYSE Amex Options
Rule 960NY in order to extend the
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
10 15
11 17
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U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(4)(ii).
Frm 00044
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12DEN1
Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices
Penny Pilot in options classes in certain
issues (‘‘Pilot Program’’) previously
approved by the Securities and
Exchange Commission (‘‘Commission’’)
through June 30, 2015. 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
mstockstill on DSK4VPTVN1PROD with NOTICES
The Exchange hereby proposes to
amend Commentary .02 to Exchange
Rule 960NY to extend the time period
of the Pilot Program,4 which is currently
scheduled to expire on December 31,
2014, through June 30, 2015. The
Exchange also proposes that the dates to
replace issues in the Pilot Program that
have been delisted be revised to the
second trading day following January 1,
2015.5
This filing does not propose any
substantive changes to the Pilot
Program: All classes currently
participating will remain the same and
all minimum increments will remain
unchanged. The Exchange believes the
benefits to public customers and other
market participants who will be able to
express their true prices to buy and sell
options have been demonstrated to
outweigh the increase in quote traffic.
4 See Securities Exchange Act Release No. 72190
(May 20, 2014), 79 FR 30215 (May 27, 2014) (SR–
NYSEMKT–2014–47).
5 The month immediately preceding a
replacement class’s addition to the Pilot Program
(i.e., December) would not be used for purposes of
the analysis for determining the replacement class.
Thus, a replacement class to be added on the
second trading day following January 1, 2015 would
be identified based on The Option Clearing
Corporation’s trading volume data from June 1,
2014 through November 30, 2014. The Exchange
will announce the replacement issues to the
Exchange’s membership through a Trader Update.
VerDate Sep<11>2014
16:57 Dec 11, 2014
Jkt 235001
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 6 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and furthers the
objectives of Section 6(b)(5),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, and to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system. The
Exchange believes that the Pilot
Program promotes just and equitable
principles of trade by enabling public
customers and other market participants
to express their true prices to buy and
sell options. The proposal to extend the
Pilot Program is designed 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
mechanisms of a free and open market
and a national market system, by
allowing the Exchange and the
Commission additional time to analyze
the impact of the Pilot Program while
also allowing the Exchange to continue
to compete for order flow with other
exchanges in option issues trading as
part of the Pilot Program.
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, by extending
the expiration of the Pilot Program, the
proposed rule change will allow for
further analysis of the Pilot Program and
a determination of how the Program
should be structured in the future. 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. The
Pilot Program is an industry wide
initiative supported by all other option
exchanges. The Exchange believes that
extending the Pilot Program will allow
for continued competition between
NYSE Amex Options market
participants trading similar products as
their counterparts on other exchanges,
while at the same time allowing the
6 15
7 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00045
Fmt 4703
Sfmt 4703
73923
Exchange to continue to compete for
order flow with other exchanges in
option issues trading as part of the Pilot
Program.
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 Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) 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 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 and Rule
19b–4(f)(6)(iii) thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 10 normally does not
become operative prior to 30 days after
the date of the filing.11 However,
pursuant to Rule 19b–4(f)(6)(iii),12 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest.
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) 13 of the Act to
determine whether the proposed rule
8 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6).
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) 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 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. The
Exchange has satisfied this pre-filing requirement.
12 17 CFR 240.19b–4(f)(6)(iii).
13 15 U.S.C. 78s(b)(2)(B).
9 17
E:\FR\FM\12DEN1.SGM
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73924
Federal Register / Vol. 79, No. 239 / Friday, December 12, 2014 / Notices
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–
NYSEMKT–2014–99 on the subject line.
Paper Comments
mstockstill on DSK4VPTVN1PROD with NOTICES
• 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–NYSEMKT–2014–99. 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 Section, 100 F Street NE.,
Washington, DC 20549–1090 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing will also be available for
inspection and copying at the NYSE’s
principal office and on its Internet Web
site at www.nyse.com. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NYSEMKT–2014–99 and should be
submitted on or before January 2, 2015.
VerDate Sep<11>2014
16:57 Dec 11, 2014
Jkt 235001
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–29103 Filed 12–11–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73791; File No. SR–Phlx–
2014–66]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Designation of Longer Period for
Commission Action on Proposed Rule
Change To Adopt New Exchange Rule
1081, Solicitation Mechanism, To
Introduce a New Electronic Solicitation
Mechanism
December 8, 2014.
on the proposed rule change. The
Commission finds that it is appropriate
to designate a longer period within
which to take action on the proposed
rule change so that it has sufficient time
to consider and take action on the
Exchange’s proposed rule change.
Accordingly, pursuant to Section
19(b)(2)(A)(ii)(I) of the Act 5 and for the
reasons stated above, the Commission
designates January 29, 2015, as the date
by which the Commission should either
approve or disapprove, or institute
proceedings to determine whether to
disapprove, the proposed rule change
(File No. SR–Phlx–2014–66).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–29182 Filed 12–11–14; 8:45 am]
BILLING CODE 8011–01–P
On October 14, 2014, NASDAQ OMX
PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder,2 a proposed rule
change to adopt new Exchange Rule
1081, Solicitation Mechanism, to
introduce a new electronic solicitation
mechanism pursuant to which a
member can electronically submit all-ornone orders of 500 contracts or more (or,
in the case of mini options, 5000
contracts or more) the member
represents as agent against contra orders
the member solicited. The proposed rule
change was published for comment in
the Federal Register on October 31,
2014.3 The Commission has received no
comment letters on the proposal.
Section 19(b)(2) of the Act 4 provides
that within 45 days of the publication of
notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether these
proposed rule changes should be
disapproved. The 45th day for this filing
is December 15, 2014.
The Commission is extending the 45day time period for Commission action
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73790; File No. SR–ICC–
2014–17]
Self-Regulatory Organizations; ICE
Clear Credit LLC; Order Granting
Approval of Proposed Rule Change To
Revise ICC End-of-Day Price Discovery
Policies and Procedures
December 8, 2014.
I. Introduction
On October 17, 2014, ICE Clear Credit
LLC (‘‘ICC’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change SR–ICC–2014–17 pursuant to
Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19b–4 thereunder.2 The proposed rule
change was published for comment in
the Federal Register on November 3,
2014.3 The Commission received no
comment letters regarding the proposed
change. For the reasons discussed
below, the Commission is granting
approval of the proposed rule change.
II. Description of the Proposed Rule
Change
ICC is proposing this change to revise
the ICC End-of-Day Price Discovery
Policies and Procedures to incorporate
enhancements to its price discovery
5 15
14 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 73441
(October 27, 2014), 79 FR 64862.
4 15 U.S.C. 78s(b)(2).
PO 00000
Frm 00046
Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(2)(A)(ii)(I).
CFR 200.30–3(a)(31).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Securities Exchange Act Release No. 34–73451
(Oct. 28, 2014), 79 FR 65280 (Nov. 3, 2014) (SR–
ICC–2014–17).
6 17
E:\FR\FM\12DEN1.SGM
12DEN1
Agencies
[Federal Register Volume 79, Number 239 (Friday, December 12, 2014)]
[Notices]
[Pages 73922-73924]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-29103]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-73778; File No. SR-NYSEMKT-2014-99]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending Commentary .02
to NYSE Amex Options Rule 960NY in Order To Extend the Penny Pilot in
Options Classes in Certain Issues Through June 30, 2015
December 8, 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 November 26, 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, 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 Substance
of the Proposed Rule Change
The Exchange proposes to amend Commentary .02 to NYSE Amex Options
Rule 960NY in order to extend the
[[Page 73923]]
Penny Pilot in options classes in certain issues (``Pilot Program'')
previously approved by the Securities and Exchange Commission
(``Commission'') through June 30, 2015. 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange hereby proposes to amend Commentary .02 to Exchange
Rule 960NY to extend the time period of the Pilot Program,\4\ which is
currently scheduled to expire on December 31, 2014, through June 30,
2015. The Exchange also proposes that the dates to replace issues in
the Pilot Program that have been delisted be revised to the second
trading day following January 1, 2015.\5\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 72190 (May 20,
2014), 79 FR 30215 (May 27, 2014) (SR-NYSEMKT-2014-47).
\5\ The month immediately preceding a replacement class's
addition to the Pilot Program (i.e., December) would not be used for
purposes of the analysis for determining the replacement class.
Thus, a replacement class to be added on the second trading day
following January 1, 2015 would be identified based on The Option
Clearing Corporation's trading volume data from June 1, 2014 through
November 30, 2014. The Exchange will announce the replacement issues
to the Exchange's membership through a Trader Update.
---------------------------------------------------------------------------
This filing does not propose any substantive changes to the Pilot
Program: All classes currently participating will remain the same and
all minimum increments will remain unchanged. The Exchange believes the
benefits to public customers and other market participants who will be
able to express their true prices to buy and sell options have been
demonstrated to outweigh the increase in quote traffic.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \6\ of the
Securities Exchange Act of 1934 (the ``Act''), in general, and furthers
the objectives of Section 6(b)(5),\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, and to remove impediments to and perfect the mechanisms of
a free and open market and a national market system. The Exchange
believes that the Pilot Program promotes just and equitable principles
of trade by enabling public customers and other market participants to
express their true prices to buy and sell options. The proposal to
extend the Pilot Program is designed 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 mechanisms of a free and open
market and a national market system, by allowing the Exchange and the
Commission additional time to analyze the impact of the Pilot Program
while also allowing the Exchange to continue to compete for order flow
with other exchanges in option issues trading as part of the Pilot
Program.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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, by extending the expiration of the Pilot Program, the
proposed rule change will allow for further analysis of the Pilot
Program and a determination of how the Program should be structured in
the future. 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. The Pilot Program
is an industry wide initiative supported by all other option exchanges.
The Exchange believes that extending the Pilot Program will allow for
continued competition between NYSE Amex Options market participants
trading similar products as their counterparts on other exchanges,
while at the same time allowing the Exchange to continue to compete for
order flow with other exchanges in option issues trading as part of the
Pilot Program.
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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) 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 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 and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) \10\ normally
does not become operative prior to 30 days after the date of the
filing.\11\ However, pursuant to Rule 19b-4(f)(6)(iii),\12\ 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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\10\ 17 CFR 240.19b-4(f)(6).
\11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
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 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. The
Exchange has satisfied this pre-filing requirement.
\12\ 17 CFR 240.19b-4(f)(6)(iii).
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At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \13\ of the Act to determine whether the proposed
rule
[[Page 73924]]
change should be approved or disapproved.
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\13\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSEMKT-2014-99 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-NYSEMKT-2014-99. 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 Section, 100 F Street
NE., Washington, DC 20549-1090 on official business days between the
hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be
available for inspection and copying at the NYSE's principal office and
on its Internet Web site at www.nyse.com. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSEMKT-2014-99 and should be submitted
on or before January 2, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-29103 Filed 12-11-14; 8:45 am]
BILLING CODE 8011-01-P