Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Rule 1000-Equities To Reflect That Exchange Systems Will Reject Incoming Orders of Over 1,000,000 Shares That Are Marketable Upon Arrival, 19389-19391 [2015-08198]
Download as PDF
<![CDATA[
Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE 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. More
specifically, the Exchange does not
believe that the proposed rule change
will impose any burden on intramarket
or intermarket competition because this
filing simply seeks to delay the
implementation deadline of SR–CBOE–
2014–067.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
mstockstill on DSK4VPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not:
A. significantly affect the protection
of investors or the public interest;
B. impose any significant burden on
competition; and
C. become operative for 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 11 and Rule 19b–4(f)(6) 12
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. If the
Commission takes such action, the
Commission will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CBOE–2015–034 on the subject line.
SECURITIES AND EXCHANGE
COMMISSION
Paper Comments
[Release No. 34–74650; File No. SR–
NYSEMKT–2015–21]
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CBOE–2015–034. 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
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–CBOE–
2015–034 and should be submitted on
or before May 1, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Brent J. Fields,
Secretary.
[FR Doc. 2015–08202 Filed 4–9–15; 8:45 am]
BILLING CODE 8011–01–P
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Rule 1000—
Equities To Reflect That Exchange
Systems Will Reject Incoming Orders
of Over 1,000,000 Shares That Are
Marketable Upon Arrival
April 6, 2015.
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 March 23,
2015, NYSE MKT LLC (the ‘‘Exchange’’
or ‘‘NYSE MKT’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
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
Rule 1000—Equities to reflect that
Exchange systems will reject incoming
orders of over 1,000,000 shares that are
marketable upon arrival. 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.
1 15
11 15
VerDate Sep<11>2014
20:09 Apr 09, 2015
U.S.C.78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(6).
13 17
Jkt 235001
19389
PO 00000
CFR 200.30–3(a)(12).
Frm 00114
Fmt 4703
Sfmt 4703
E:\FR\FM\10APN1.SGM
10APN1
19390
Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices
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 proposes to amend
Rule 1000—Equities (Automatic
Execution of Limit Orders Against
Orders Reflected in Exchange Published
Quotation) (‘‘Rule 1000’’) to reflect that
Exchange systems will reject incoming
orders of over 1,000,000 shares that are
marketable upon arrival against interest
in Exchange systems.
Currently, Exchange systems accept
orders up to a maximum order size of
25,000,000 shares.4 Rule 1000 provides
that market and limit orders of up to
1,000,000 shares are eligible to initiate
or participate in automatic executions
on the Exchange. However, because an
order of over 1,000,000 shares in size is
ineligible for automatic execution, if
such an order is marketable on arrival,
the Exchange suspends automatic
executions in that security and it is
auto-quoted with a ‘‘slow’’ quote
condition. When a symbol is in a
‘‘slow’’ quote condition, its quote is not
protected under Regulation NMS.5
Orders for more than 1,000,000 shares
that are not marketable upon arrival do
not suspend automatic executions or
cause a slow quote condition. Rather,
non-marketable orders of over 1,000,000
shares in size rest on the Exchange’s
limit order book and are available as
liquidity to interact with incoming
contra-side interest.
The Exchange proposes to amend
Rule 1000 to provide that incoming
orders of over 1,000,000 shares that are
marketable upon arrival would be
rejected. The Exchange believes it is
appropriate to reject marketable orders
ineligible for automatic execution in
order to reduce the potential that the
Exchange would suspend automatic
executions and disseminate a ‘‘slow’’
quote that permits other market centers
to trade through the Exchange’s
quotations in that security. In addition,
the Exchange notes that an order of such
size that is marketable upon arrival may
be an order entry error, and therefore
rejecting the order puts the submitter of
the order on notice of the large size of
the order.
4 See
Rule 1000—Equities.
611 of Regulation NMS requires that
trading centers have policies and procedures
reasonably designed to prevent trade throughs on
that trading center of protected quotations in NMS
Stocks. 17 CFR 242.611(a). Importantly, to be a
protected quotation, it must be an automated
quotation that is the best bid or offer of an
exchange. 17 CFR 242.603(b)(57)(iii).
5 Rule
VerDate Sep<11>2014
20:09 Apr 09, 2015
Jkt 235001
Because of the technology changes
associated with the proposed rule
change, the Exchange proposes to
announce the implementation date via
Trader Update.
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 Section 6(b)(5)
of the Act,7 in particular, because it is
designed to prevent fraudulent and
manipulative acts and practices,
promote just and equitable principles of
trade, remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and protect investors and the
public interest. In particular, the
Exchange believes that rejecting large
orders ineligible for automatic execution
rather than triggering a suspension of
automatic executions in the relevant
security would remove impediments to
and perfect the mechanism of a free and
open market and a national market
system by reducing the potential that
the Exchange would suspend automatic
executions and disseminate a ‘‘slow’’
quote that permits other market centers
to trade through the Exchange’s
quotations in the relevant security. The
Exchange also believes that rejecting
large orders ineligible for automatic
execution would assist with the
maintenance of fair and orderly markets
by helping to mitigate the risk that a
large order that is marketable upon
arrival may be an order entry error, and
therefore rejecting the order puts the
submitter of the order on notice of the
large size of the order. For the same
reasons, the proposal is also designed to
protect investors as well as the public
interest.
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. The
proposed rule change is not intended to
address competitive issues but rather to
prevent unnecessary suspension of
automatic executions on the Exchange’s
marketplace and reduce the likelihood
that large, marketable orders may be an
order entry error.
6 15
7 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00115
Fmt 4703
Sfmt 4703
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.10
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(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 .13
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:
8 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
10 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 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.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 15 U.S.C. 78s(b)(3)(C).
9 17
E:\FR\FM\10APN1.SGM
10APN1
Federal Register / Vol. 80, No. 69 / Friday, April 10, 2015 / Notices
Electronic Comments
SMALL BUSINESS ADMINISTRATION
• 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–2015–21 on the subject line.
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
mstockstill on DSK4VPTVN1PROD with NOTICES
All submissions should refer to File
Number SR–NYSEMKT–2015–21. 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 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–2015–21 and should be
submitted on or before May 1, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Brent J. Fields,
Secretary.
[FR Doc. 2015–08198 Filed 4–9–15; 8:45 am]
BILLING CODE 8011–01–P
CFR 200.30–3(a)(59).
VerDate Sep<11>2014
20:09 Apr 09, 2015
Tennessee Disaster #TN–00087
Jkt 235001
U.S. Small Business
Administration.
This is a Notice of the
Presidential declaration of a major
disaster for Public Assistance Only for
the State of Tennessee (FEMA–4211–
DR), dated 04/02/2015.
Incident: Severe winter storm and
flooding.
Incident Period: 02/15/2015 through
02/22/2015.
Effective Date: 04/02/2015.
Physical Loan Application Deadline
Date: 06/01/2015.
Economic Injury (EIDL) Loan
Application Deadline Date: 01/04/2016.
Submit completed loan
applications to U.S. Small Business
Administration Processing and
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
ADDRESSES:
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT:
Notice is
hereby given that as a result of the
President’s major disaster declaration on
04/02/2015, Private Non-Profit
organizations that provide essential
services of governmental nature may file
disaster loan applications at the address
listed above or other locally announced
locations.
The following areas have been
determined to be adversely affected by
the disaster:
Primary Counties: Anderson; Bedford;
Bledsoe; Blount; Campbell; Clay;
Coffee; Cumberland; Fentress; Giles;
Grainger; Grundy; Hamblen; Hancock;
Hardeman; Jefferson; Knox; Lawrence;
Loudon; Marshall; Mcminn; Mcnairy;
Meigs; Monroe; Moore; Morgan;
Obion; Overton; Putnam; Roane;
Scott; Sevier; Van Buren; Warren;
White.
SUPPLEMENTARY INFORMATION:
The Interest Rates are:
Percent
For Physical Damage:
Non-Profit Organizations With
Credit Available Elsewhere .....
Non-Profit Organizations Without
Credit Available Elsewhere .....
For Economic Injury:
Frm 00116
Fmt 4703
Sfmt 4703
Non-Profit Organizations Without
Credit Available Elsewhere .....
2.625
(Catalog of Federal Domestic Assistance
Numbers 59002 and 59008)
Notice.
SUMMARY:
PO 00000
Percent
The number assigned to this disaster for
physical damage is 14261B and for economic
injury is 14262B.
AGENCY:
ACTION:
Paper Comments
14 17
[Disaster Declaration #14261 and #14262]
19391
2.625
2.625
James E. Rivera,
Associate Administrator for Disaster
Assistance.
[FR Doc. 2015–08334 Filed 4–9–15; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
Announcement of Growth Accelerator
Fund Competition
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
The U.S. Small Business
Administration (SBA) announces the
2015 Growth Accelerator Fund
Competition, pursuant to the America
Competes Act, to identify the nation’s
most innovative accelerators and similar
organizations and award them cash
prizes they may use to fund their
operations costs and allow them to bring
startup companies to scale and new
ideas to life.
DATES: The submission period for
entries begins 12:00 p.m. EDT, April 10,
2015 and ends June 1, 2015 at 11:59
p.m. EDT. Winners will be announced
no later than August 24, 2015.
FOR FURTHER INFORMATION CONTACT:
Nareg Sagherian, Office of Investment
and Innovation, U.S. Small Business
Administration, 409 Third Street SW.,
6th Floor, Washington, DC 20416, (202)
205–7576, accelerators@sba.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Competition Details
1. Subject of Competition: The SBA is
seeking to identify the nation’s most
innovative and promising small
business accelerators and incubators in
order to infuse them with additional
resource capital that ultimately
stimulates the growth and development
of startups from within the
entrepreneurial communities they serve.
For the purposes of this competition,
Growth Accelerators include
accelerators, incubators, co-working
startup communities, shared tinkerspaces or other models to accomplish
similar goals. Regardless of the specific
model employed, Growth Accelerators
focus on helping entrepreneurs and
their startups speed the launch, growth
E:\FR\FM\10APN1.SGM
10APN1
]]>Agencies
[Federal Register Volume 80, Number 69 (Friday, April 10, 2015)]
[Notices]
[Pages 19389-19391]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-08198]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-74650; File No. SR-NYSEMKT-2015-21]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending Rule 1000--
Equities To Reflect That Exchange Systems Will Reject Incoming Orders
of Over 1,000,000 Shares That Are Marketable Upon Arrival
April 6, 2015.
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 March 23, 2015, NYSE MKT LLC (the ``Exchange'' or ``NYSE
MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the self-regulatory
organization. The 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 Rule 1000--Equities to reflect that
Exchange systems will reject incoming orders of over 1,000,000 shares
that are marketable upon arrival. The text of the proposed rule change
is available on the Exchange's Web site at www.nyse.com, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
[[Page 19390]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Rule 1000--Equities (Automatic
Execution of Limit Orders Against Orders Reflected in Exchange
Published Quotation) (``Rule 1000'') to reflect that Exchange systems
will reject incoming orders of over 1,000,000 shares that are
marketable upon arrival against interest in Exchange systems.
Currently, Exchange systems accept orders up to a maximum order
size of 25,000,000 shares.\4\ Rule 1000 provides that market and limit
orders of up to 1,000,000 shares are eligible to initiate or
participate in automatic executions on the Exchange. However, because
an order of over 1,000,000 shares in size is ineligible for automatic
execution, if such an order is marketable on arrival, the Exchange
suspends automatic executions in that security and it is auto-quoted
with a ``slow'' quote condition. When a symbol is in a ``slow'' quote
condition, its quote is not protected under Regulation NMS.\5\ Orders
for more than 1,000,000 shares that are not marketable upon arrival do
not suspend automatic executions or cause a slow quote condition.
Rather, non-marketable orders of over 1,000,000 shares in size rest on
the Exchange's limit order book and are available as liquidity to
interact with incoming contra-side interest.
---------------------------------------------------------------------------
\4\ See Rule 1000--Equities.
\5\ Rule 611 of Regulation NMS requires that trading centers
have policies and procedures reasonably designed to prevent trade
throughs on that trading center of protected quotations in NMS
Stocks. 17 CFR 242.611(a). Importantly, to be a protected quotation,
it must be an automated quotation that is the best bid or offer of
an exchange. 17 CFR 242.603(b)(57)(iii).
---------------------------------------------------------------------------
The Exchange proposes to amend Rule 1000 to provide that incoming
orders of over 1,000,000 shares that are marketable upon arrival would
be rejected. The Exchange believes it is appropriate to reject
marketable orders ineligible for automatic execution in order to reduce
the potential that the Exchange would suspend automatic executions and
disseminate a ``slow'' quote that permits other market centers to trade
through the Exchange's quotations in that security. In addition, the
Exchange notes that an order of such size that is marketable upon
arrival may be an order entry error, and therefore rejecting the order
puts the submitter of the order on notice of the large size of the
order.
Because of the technology changes associated with the proposed rule
change, the Exchange proposes to announce the implementation date via
Trader Update.
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 Section 6(b)(5) of the Act,\7\ in particular, because it
is designed to prevent fraudulent and manipulative acts and practices,
promote just and equitable principles of trade, remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and protect investors and the public interest. In
particular, the Exchange believes that rejecting large orders
ineligible for automatic execution rather than triggering a suspension
of automatic executions in the relevant security would remove
impediments to and perfect the mechanism of a free and open market and
a national market system by reducing the potential that the Exchange
would suspend automatic executions and disseminate a ``slow'' quote
that permits other market centers to trade through the Exchange's
quotations in the relevant security. The Exchange also believes that
rejecting large orders ineligible for automatic execution would assist
with the maintenance of fair and orderly markets by helping to mitigate
the risk that a large order that is marketable upon arrival may be an
order entry error, and therefore rejecting the order puts the submitter
of the order on notice of the large size of the order. For the same
reasons, the proposal is also designed to protect investors as well as
the public interest.
---------------------------------------------------------------------------
\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. The proposed rule change is
not intended to address competitive issues but rather to prevent
unnecessary suspension of automatic executions on the Exchange's
marketplace and reduce the likelihood that large, marketable orders may
be an order entry error.
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.\10\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6).
\10\ 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 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.
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \11\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(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.
---------------------------------------------------------------------------
\11\ 17 CFR 240.19b-4(f)(6).
\12\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
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 .\13\
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
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:
[[Page 19391]]
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-2015-21 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 20549-1090.
All submissions should refer to File Number SR-NYSEMKT-2015-21. 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 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-2015-21 and should be submitted on or before May
1, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(59).
---------------------------------------------------------------------------
Brent J. Fields,
Secretary.
[FR Doc. 2015-08198 Filed 4-9-15; 8:45 am]
BILLING CODE 8011-01-P
