Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend the Trading Permit Application Fee, 78541-78543 [2014-30442]
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Federal Register / Vol. 79, No. 249 / Tuesday, December 30, 2014 / Notices
which the decision was based.6 Just as
is the case with a delisting
determination, the proposed rule would
require that the disclosure be made
within four business days of receipt of
Nasdaq’s determination. In cases where
the company fails to make the required
disclosure, Nasdaq would make the
disclosure and a Listing Qualifications
Hearings Panel would consider the
company’s failure to make the required
disclosure when it considers any
subsequent appeal of the denial.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act7 in general, and furthers the
objectives of Section 6(b)(5) of the Act8
in particular, in that it is designed to
promote just and equitable principles of
trade, 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
proposed rule change will impose a
disclosure requirement on companies
that are denied initial listing on Nasdaq,
which will help protect investors and
the public interest by providing
transparency to investors about the
status of a company’s application. The
proposed rule change will not affect a
company’s ability to withdraw its listing
application at any time and will add a
statement about that ability to Nasdaq’s
rules, which will promote just and
equitable principles of trade by
enhancing transparency and allowing
companies to maintain control over the
consideration of their applications.
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. The
proposed rule change will impose an
additional disclosure requirement on a
small universe of companies and is not
expected to affect the number of
companies applying to list on Nasdaq or
mstockstill on DSK4VPTVN1PROD with NOTICES
6 The
rule would not require disclosure if a
company withdraws its listing application before
receiving a written determination from Nasdaq.
Companies withdraw listing applications for many
reasons, including instances where the company is
acquired, determines not to list on an exchange, or
lists on another venue. In addition, Nasdaq does not
believe it can enforce a disclosure requirement after
a company has withdrawn from its process.
Nonetheless, Nasdaq believes that such disclosure
may be appropriate and encourages companies to
make such disclosure.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
VerDate Sep<11>2014
21:42 Dec 29, 2014
Jkt 235001
any other exchange, or any company’s
ability to list.
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
Within 45 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission shall: (a) By order
approve or disapprove such 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–2014–102 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549.
All submissions should refer to File
Number SR–NASDAQ–2014–102. 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
PO 00000
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Fmt 4703
Sfmt 4703
78541
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–
NASDAQ–2014–102 and should be
submitted on or before January 20, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Brent J. Fields,
Secretary.
[FR Doc. 2014–30438 Filed 12–29–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73906; File No. SR–CHX–
2014–20]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change to Amend
the Trading Permit Application Fee
December 22, 2014.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 2 thereunder,
notice is hereby given that on December
15, 2014, the Chicago Stock Exchange,
Inc. (‘‘CHX’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘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
CHX proposes to amend the Trading
Permit application fee. The text of this
proposed rule change is available on the
Exchange’s Web site at (www.chx.com)
and in the Commission’s Public
Reference Room.
9 17
CFR 200.30–3(a)(12).
U.S. C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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78542
Federal Register / Vol. 79, No. 249 / Tuesday, December 30, 2014 / Notices
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
CHX included statements concerning
the purpose of and basis for the
proposed rule changes and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
CHX 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
Section A of the Fee Schedule to
increase the Trading Permit application
fee from $200 to $2,000 per
application.3 The Trading Permit
application fee is essentially a new
Participant application fee, as every
active Participant must hold a Trading
Permit and no Participant may hold
more than one Trading Permit.4 The
Exchange submits that the current fee is
no longer commensurate with the actual
cost associated with the Exchange’s
comprehensive review of Trading
Permit applications. Thus, the Exchange
believes it is appropriate to increase the
Trading Permit application fee to be
identical to similar fees of other national
securities exchanges, like NASDAQ and
NASDAQ BX.5
The Exchange also proposes to
replace the term ‘‘Trading Permit’’ after
‘‘$2000/’’ with the more accurate term
‘‘application,’’ as the fee is currently
assessed per application. For example, a
separate Trading Permit application fee
is, and will continue to be, assessed for
each Trading Permit application
submitted after (1) a withdrawal of an
application by a prospective Participant
or (2) rejection of an application by the
Exchange. The Exchange believes that
this amendment will clarify that if a
prospective Participant submits more
mstockstill on DSK4VPTVN1PROD with NOTICES
3 CHX
Article 1, Rule 1(aa) defines ‘‘Trading
Permit’’ as ‘‘a permit issued by the Exchange,
granting the holder a revocable license to execute
approved securities transactions through the
Exchange’s Trading Facilities, or to have those
transactions executed on its behalf.’’
4 CHX Article 3, Rule 2(e) provides that ‘‘all
Trading Permits must be held by active Participant
Firms’’ and ‘‘no Participant Firm shall hold more
than one Trading Permit.’’
5 See NASDAQ and NASDAQ BX fee schedules,
both of which assess a $2,000 fee per new member
application.
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21:42 Dec 29, 2014
Jkt 235001
than one Trading Permit application,
regardless of the reason, the prospective
Participant will be assessed the
proposed Trading Permit application fee
for each application. Incidentally, the
Exchange also proposes to adopt
language indicating that the fee is nonrefundable.
The Exchange also proposes to
eliminate the new Participant Firm
registration fee of $200 under Section C.
In light of the proposed increase to the
Trading Permit application fee, the
Exchange believes that the new
Participant Firm registration fee is
unnecessary.
Aside from increasing the Trading
Permit application fee to $2,000 per
application and the elimination of the
new Participant Firm registration fee of
$200, the Exchange does not propose to
substantively modify any other fees,
assessments, credits or rebates.
Operative Date
The Exchange proposes to make this
proposed rule change operative January
2, 2015.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 6 in general, and
furthers the objectives of Sections
6(b)(4) of the Act 7 in particular, as the
proposed rule provides for the equitable
allocation of reasonable dues, fees and
other charges among members and other
persons using its facilities. The
Exchange believes that the proposed
increase of the Trading Permit
application fee from $200 to $2,000 per
application equitably allocates fees
among prospective Participants in a
non-discriminatory manner as it will be
assessed to all prospective Participants.
Similarly, the proposed elimination of
the new Participant Firm registration fee
equitably allocates fees among
prospective Participants in a nondiscriminatory manner as it will no
longer be assessed to any prospective
Participants. Moreover, the proposed
Trading Permit application fee is
reasonable in light of the fact that it is
identical to similar fees of other national
securities exchanges, like NASDAQ and
NASDAQ BX.8
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
U.S. C. 78f.
U.S. C. 78f(b)(4).
8 See supra note 5.
of the purposes of the Act. To the
contrary, the proposed Trading Permit
application fee will enhance
competition as it would be identical to
similar fees of other national securities
exchanges, such as NASDAQ and
NASDAQ BX.9
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 foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A)(ii) of the Act 10 and
subparagraph(f)(2) of Rule 19b–4
thereunder 11 because it establishes or
changes a due, fee or other charge
imposed by the Exchange.
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.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposal 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–
CHX–2014–20 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549.
All submissions should refer to File No.
SR–CHX–2014–20. This file number
should be included on the subject line
if email is used. To help the
6 15
9 Id.
7 15
10 15
PO 00000
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Fmt 4703
11 17
Sfmt 4703
E:\FR\FM\30DEN1.SGM
U.S. C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
30DEN1
Federal Register / Vol. 79, No. 249 / Tuesday, December 30, 2014 / Notices
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 changes 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 CHX. 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 No. SR–CHX–2014–
20 and should be submitted on or before
January 20, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Brent J. Fields,
Secretary.
[FR Doc. 2014–30442 Filed 12–29–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73907; File No. SR–OCC–
2014–24]
Self-Regulatory Organizations; The
Options Clearing Corporation; Notice
of Filing of Proposed Rule Change
Concerning Extended and Overnight
Trading Sessions
mstockstill on DSK4VPTVN1PROD with NOTICES
December 22, 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 December
12, 2014, The Options Clearing
Corporation (‘‘OCC’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Sep<11>2014
21:42 Dec 29, 2014
Jkt 235001
below, which Items have been prepared
by OCC. The Commission is publishing
this notice to solicit comments on the
proposed rule change from interested
persons.
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
This proposed rule change is filed by
OCC in connection with a proposed
change to its operations concerning the
clearance of confirmed trades executes
in extended and overnight trading
sessions (hereinafter, ‘‘overnight trading
sessions’’) offered by exchanges for
which OCC provides clearance and
settlement services.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission,
OCC included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. OCC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of these statements.
(A) Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
1. Purpose
This proposed rule change is being
filed in connection with a proposed
change to OCC’s operations concerning
the clearance of confirmed trades
executed in overnight trading sessions
offered by exchanges for which OCC
provides clearance and settlement
services. OCC currently clears overnight
trading activity for CBOE Futures
Exchange, LLC (‘‘CFE’’).3 The total
number of trades submitted to OCC from
overnight trading sessions is nominal,
typically less than 3,000 contracts per
session. However, OCC has recently
observed an industry trend whereby
exchanges are offering overnight trading
sessions beyond traditional hours.
Exchanges offering overnight trading
sessions have indicated that such
sessions benefit market participants by
providing additional price transparency
and hedging opportunities for products
traded in such sessions, which, in turn,
3 ELX Futures LP (‘‘ELX’’) previously submitted
overnight trading activity to OCC, but currently
does not submit trades from overnight trading
sessions to OCC. OCC will re-evaluate ELX’s risk
controls in the event ELX re-institutes its overnight
trading sessions.
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78543
promotes market stability.4 In light of
this trend, OCC proposes to implement
a framework for clearing trades executed
in such sessions that includes: (1)
Qualification criteria used to approve
clearing members for overnight trading
sessions, (2) systemic controls to
identify trades executed during
overnight trading sessions by clearing
members not approved for such
sessions, (3) enhancements to OCC’s
overnight monitoring of trades
submitted by exchanges during
overnight trading sessions, (4)
enhancements to OCC’s credit controls
with respect to monitoring clearing
members’ credit risk during overnight
trading sessions, including procedures
for contacting an exchange offering
overnight trading sessions in order to
invoke use of the exchange’s kill switch,
and (5) taking appropriate disciplinary
action against clearing members who
attempt to clear during overnight
trading session without first obtaining
requisite approvals. These changes
(described in greater detail below) are
designed to reduce and mitigate the
risks associated with clearing trades
executed in overnight trading sessions.
In addition, the only products that will
be eligible for overnight trading sessions
are index options and index futures
products.
OCC’s standards for determining
whether to provide clearing services for
overnight trading sessions offered by an
exchange and the implementation of a
framework are designed to work in
conjunction with the risk controls of the
exchanges that offer overnight trading
sessions. OCC would confirm an
exchange’s risk controls as well as its
staffing levels as they relate to overnight
trading sessions to determine if OCC
may reasonably rely on such risk
controls to reduce risk presented to OCC
by the exchange’s overnight trading
sessions. Such exchange risk controls
will consist of: (1) Price reasonability
checks, (2) controls to prevent orders
from being executed beyond a certain
percentage (determined by the
exchange) from the initial execution
price, (3) activity based protections
which focus on risk beyond price, such
as a high number of trades occurring in
a set period of time, and (4) kill switch
capabilities, which may be initiated by
the exchange and can cancel all open
quotes or all orders of a particular
participant. OCC believes that
confirming the existence of applicable
pre-trade risk controls as well as
overnight staffing at the relevant
exchanges is essential to mitigating risks
4 See CFE–2014–010 at https://cfe.cboe.com/
publish/CFErulefilings/SR-CFE-2014-010.pdf.
E:\FR\FM\30DEN1.SGM
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]]>Agencies
[Federal Register Volume 79, Number 249 (Tuesday, December 30, 2014)]
[Notices]
[Pages 78541-78543]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-30442]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-73906; File No. SR-CHX-2014-20]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
to Amend the Trading Permit Application Fee
December 22, 2014.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on December 15, 2014, the Chicago Stock Exchange, Inc. (``CHX'' or
the ``Exchange'') filed with the Securities and Exchange Commission
(``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\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CHX proposes to amend the Trading Permit application fee. The text
of this proposed rule change is available on the Exchange's Web site at
(www.chx.com) and in the Commission's Public Reference Room.
[[Page 78542]]
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 CHX included statements
concerning the purpose of and basis for the proposed rule changes and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The CHX 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 Section A of the Fee Schedule to
increase the Trading Permit application fee from $200 to $2,000 per
application.\3\ The Trading Permit application fee is essentially a new
Participant application fee, as every active Participant must hold a
Trading Permit and no Participant may hold more than one Trading
Permit.\4\ The Exchange submits that the current fee is no longer
commensurate with the actual cost associated with the Exchange's
comprehensive review of Trading Permit applications. Thus, the Exchange
believes it is appropriate to increase the Trading Permit application
fee to be identical to similar fees of other national securities
exchanges, like NASDAQ and NASDAQ BX.\5\
---------------------------------------------------------------------------
\3\ CHX Article 1, Rule 1(aa) defines ``Trading Permit'' as ``a
permit issued by the Exchange, granting the holder a revocable
license to execute approved securities transactions through the
Exchange's Trading Facilities, or to have those transactions
executed on its behalf.''
\4\ CHX Article 3, Rule 2(e) provides that ``all Trading Permits
must be held by active Participant Firms'' and ``no Participant Firm
shall hold more than one Trading Permit.''
\5\ See NASDAQ and NASDAQ BX fee schedules, both of which assess
a $2,000 fee per new member application.
---------------------------------------------------------------------------
The Exchange also proposes to replace the term ``Trading Permit''
after ``$2000/'' with the more accurate term ``application,'' as the
fee is currently assessed per application. For example, a separate
Trading Permit application fee is, and will continue to be, assessed
for each Trading Permit application submitted after (1) a withdrawal of
an application by a prospective Participant or (2) rejection of an
application by the Exchange. The Exchange believes that this amendment
will clarify that if a prospective Participant submits more than one
Trading Permit application, regardless of the reason, the prospective
Participant will be assessed the proposed Trading Permit application
fee for each application. Incidentally, the Exchange also proposes to
adopt language indicating that the fee is non-refundable.
The Exchange also proposes to eliminate the new Participant Firm
registration fee of $200 under Section C. In light of the proposed
increase to the Trading Permit application fee, the Exchange believes
that the new Participant Firm registration fee is unnecessary.
Aside from increasing the Trading Permit application fee to $2,000
per application and the elimination of the new Participant Firm
registration fee of $200, the Exchange does not propose to
substantively modify any other fees, assessments, credits or rebates.
Operative Date
The Exchange proposes to make this proposed rule change operative
January 2, 2015.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \6\ in general, and furthers the
objectives of Sections 6(b)(4) of the Act \7\ in particular, as the
proposed rule provides for the equitable allocation of reasonable dues,
fees and other charges among members and other persons using its
facilities. The Exchange believes that the proposed increase of the
Trading Permit application fee from $200 to $2,000 per application
equitably allocates fees among prospective Participants in a non-
discriminatory manner as it will be assessed to all prospective
Participants. Similarly, the proposed elimination of the new
Participant Firm registration fee equitably allocates fees among
prospective Participants in a non-discriminatory manner as it will no
longer be assessed to any prospective Participants. Moreover, the
proposed Trading Permit application fee is reasonable in light of the
fact that it is identical to similar fees of other national securities
exchanges, like NASDAQ and NASDAQ BX.\8\
---------------------------------------------------------------------------
\6\ 15 U.S. C. 78f.
\7\ 15 U.S. C. 78f(b)(4).
\8\ See supra note 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. To the contrary, the
proposed Trading Permit application fee will enhance competition as it
would be identical to similar fees of other national securities
exchanges, such as NASDAQ and NASDAQ BX.\9\
---------------------------------------------------------------------------
\9\ Id.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
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)(ii) of the Act \10\ and subparagraph(f)(2) of Rule
19b-4 thereunder \11\ because it establishes or changes a due, fee or
other charge imposed by the Exchange.
---------------------------------------------------------------------------
\10\ 15 U.S. C. 78s(b)(3)(A)(ii).
\11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposal 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-CHX-2014-20 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549.
All submissions should refer to File No. SR-CHX-2014-20. This file
number should be included on the subject line if email is used. To help
the
[[Page 78543]]
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 changes 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 CHX. 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 No. SR-CHX-2014-20 and should be
submitted on or before January 20, 2015.
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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Brent J. Fields,
Secretary.
[FR Doc. 2014-30442 Filed 12-29-14; 8:45 am]
BILLING CODE 8011-01-P
