Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal of a Proposed Rule Change, as Modified by Partial Amendment No. 1 and Partial Amendment No. 2, Amending Rule 13-Equities and Related Rules Governing Order Types and Modifiers; Correction, 20273 [2015-08629]

Download as PDF Federal Register / Vol. 80, No. 72 / Wednesday, April 15, 2015 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–74643A; File No. SR– NYSEMKT–2014–95] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal of a Proposed Rule Change, as Modified by Partial Amendment No. 1 and Partial Amendment No. 2, Amending Rule 13—Equities and Related Rules Governing Order Types and Modifiers; Correction I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change April 9, 2015. Securities and Exchange Commission. ACTION: Notice; correction. AGENCY: The Securities and Exchange Commission published a document in the Federal Register on April 9, 2015, concerning a Notice of Withdrawal of a Proposed Rule Change, as Modified by Partial Amendment No. 1 and Partial Amendment No. 2, Amending Rule 13— Equities and Related Rules Governing Order Types and Modifiers. The document contained a typographical error. SUMMARY: FOR FURTHER INFORMATION CONTACT: Steve Kuan, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, (202) 551–5624. Correction In the Federal Register of April 9, FR Doc. 2015–8108, on page 19102, in the 13th line in the third column, correct the date ‘‘February 26, 2014’’ to ‘‘February 26, 2015.’’ Dated: April 9, 2015. Brent J. Fields, Secretary. BILLING CODE 8011–01–P [Release No. 34–74694; File No. SR– NYSEArca–2015–28] tkelley on DSK3SPTVN1PROD with 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 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. Purpose SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Modifying the NYSE Arca Options Fee Schedule To Adopt Fees for Certain Manual Transactions in Options Overlying IWM Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the The Exchange proposes to adopt fees for certain Manual transactions in options overlying IWM (the iShares Russell 2000 ETF). The Exchange proposes to implement the fee change effective April 3, 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change [FR Doc. 2015–08629 Filed 4–14–15; 8:45 am] April 9, 2015. ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on April 3, 2015, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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. The purpose of this filing is to adopt fees for certain manual transactions in options overlying IWM (the iShares Russell 2000 ETF). The Exchange proposes to implement the fee change effective April 3, 2015. Currently, manual trades in IWM are subject to the same fees as any other listed option that is traded manually. However, the Exchange is proposing to offer special pricing to encourage increased manual trading in the product and to offset losses of manual transactions associated with options in 2 15 1 15 U.S.C. 78s(b)(1). VerDate Sep<11>2014 17:29 Apr 14, 2015 3 17 Jkt 235001 PO 00000 U.S.C. 78a. CFR 240.19b–4. Frm 00077 Fmt 4703 Sfmt 4703 20273 the iShares Russell Index (RUT), which is exclusively trading on another venue. Accordingly, for Manual transactions in IWM executed by NYSE Arca Market Makers, Firms and Broker Dealers (collectively, the ‘‘IWM Participants’’), the Exchange proposes to charge $0.125 per contract.4 The Exchange also proposes to offer IWM Participants certain incentives for increased monthly volumes of manual transactions in IWM. Specifically, the Exchange proposes to instead offer the enhanced rates of (a) $0.075 for each contract in excess of 74,999 contracts; and (b) $0.025 for each contract in excess of 99,999 contracts, for Manual executions in IWM transacted during the month.5 As is the case today, Customers (including Professional Customers) will not be charged for manual transactions in IWM. The Exchange notes that Firm Facilitations,6 Strategy Executions 7 and Qualified Contingent Crosses are excluded from the proposed fee change and would not count towards calculations of the total monthly Manual transactions in IWM. Further, after calculating fees associated with Manual transactions in IWM, at the end of the month, the Exchange will round to the nearest penny when applicable. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,8 in general, and furthers the objectives of Sections 6(b)(4) and (5) of the Act,9 in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly 4 The Exchange notes that there is currently no Lead Market Maker (‘‘LMM’’) in IWM and, thus, the proposed fee reduction does not apply to LMMs. In the event that the Exchange appoints an LMM in IWM, the Exchange would address how the proposed fee reduction would apply to the LMM in a subsequent filing. 5 Id. 6 As defined in the Fee Schedule, a Firm Facilitation is any transaction involving a Firm proprietary trading account that has a customer of that same Firm on the contra side of the transaction, or a broker dealer facilitating a Customer order, where the broker dealer and the Customer both clear through the same clearing firm and the broker dealer clears in the customer range. See Fee Schedule, Endnote 7, available here, https:// www.nyse.com/publicdocs/nyse/markets/arcaoptions/NYSE_Arca_Options_Fee_Schedule.pdf 7 As set forth in the Fee Schedule, Strategy Executions are transactions involving (a) reversals and conversions, (b) box spreads, (c) short stock interest spreads, (d) merger spreads, and (e) jelly rolls. See id., ‘‘LIMIT OF FEES ON OPTIONS STRATEGY EXECUTIONS’’. 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(4) and (5). E:\FR\FM\15APN1.SGM 15APN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 80, Number 72 (Wednesday, April 15, 2015)]
[Notices]
[Page 20273]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-08629]



[[Page 20273]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74643A; File No. SR-NYSEMKT-2014-95]


Self-Regulatory Organizations; NYSE MKT LLC; Notice of Withdrawal 
of a Proposed Rule Change, as Modified by Partial Amendment No. 1 and 
Partial Amendment No. 2, Amending Rule 13--Equities and Related Rules 
Governing Order Types and Modifiers; Correction

April 9, 2015.
AGENCY: Securities and Exchange Commission.

ACTION: Notice; correction.

-----------------------------------------------------------------------

SUMMARY: The Securities and Exchange Commission published a document in 
the Federal Register on April 9, 2015, concerning a Notice of 
Withdrawal of a Proposed Rule Change, as Modified by Partial Amendment 
No. 1 and Partial Amendment No. 2, Amending Rule 13--Equities and 
Related Rules Governing Order Types and Modifiers. The document 
contained a typographical error.

FOR FURTHER INFORMATION CONTACT: Steve Kuan, Division of Trading and 
Markets, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549, (202) 551-5624.

Correction

    In the Federal Register of April 9, FR Doc. 2015-8108, on page 
19102, in the 13th line in the third column, correct the date 
``February 26, 2014'' to ``February 26, 2015.''

    Dated: April 9, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-08629 Filed 4-14-15; 8:45 am]
 BILLING CODE 8011-01-P

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