Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Withdrawal of Proposed Rule Change, as Modified by Amendment No. 1, To Amend Rules 11.6, 11.8, 11.9, 11.10 and 11.11 of EDGA Exchange, Inc., 43150-43151 [2015-17758]
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43150
Federal Register / Vol. 80, No. 139 / Tuesday, July 21, 2015 / Notices
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative until 30 days after the
date of filing.10 However, Rule 19b–
4(f)(6)(iii) 11 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest.12 The
MSRB has requested that the
Commission designate the proposed
rule change operative upon filing,13 as
specified in Rule 19b–4(f)(6)(iii),14
which would make the proposed rule
change operative on June 30, 2015. The
MSRB has stated that an earlier
operative date would provide
underwriters with certainty regarding
the due date of their first submission on
Form G–45.15
The Commission hereby grants the
MSRB’s request and believes that
designating the proposed rule change
operative upon filing is consistent with
the protection of investors and the
public interest.16 According to the
MSRB, Rule G–45 is designed to enable
the MSRB to collect reliable information
about 529 plans solely for regulatory
purposes and to analyze that
information to better understand the
market and the manner in which assets
are invested.17 The Commission
believes that designating the proposed
rule change operative upon filing is
consistent with the protection of
investors and the public interest
because it will provide underwriters
with certainty regarding the due date of
their initial Form G–45 submission, as
well as help ensure that the MSRB
receives reliable, complete and accurate
filings on Form G–45. In addition, the
proposed rule change is not making any
substantive changes to MSRB rules; it is
only extending the deadline under Rule
G–45 for initial submissions of Form G–
45 by 60 days, until October 28, 2015.
Therefore, the Commission hereby
designates the proposed rule change
operative upon filing.
At any time within 60 days of the
filing of the proposed rule change, the
10 Id.
11 17
CFR 240.19b–4(f)(6)(iii).
addition, Rule 19b–4(f)(6)(iii) requires a selfregulatory organization to give the Commission
written notice of its intent to file a proposed rule
change, along with a brief description and text of
such proposed rule change, at least five business
days prior to the date of filing, or such shorter time
as designated by the Commission. The MSRB
satisfied this requirement on June 23, 2015.
13 See SR–MSRB–2015–05.
14 17 CFR 240.19b–4(f)(6)(iii).
15 See supra note 13.
16 For the purposes only of accelerating the
operative date of this proposal, the Commission has
considered the proposed rule change’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
17 See supra Section II.A.I.
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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.
BILLING CODE 8011–01–P
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–
MSRB–2015–05 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549.
All submissions should refer to File
Number SR–MSRB–2015–05. 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 MSRB. 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–MSRB–
Frm 00100
Fmt 4703
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For the Commission, pursuant to delegated
authority.18
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–17779 Filed 7–20–15; 8:45 am]
IV. Solicitation of Comments
PO 00000
2015–05 and should be submitted on or
before August 11, 2015.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75459; File No. SR–EDGA–
2015–10]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Withdrawal
of Proposed Rule Change, as Modified
by Amendment No. 1, To Amend Rules
11.6, 11.8, 11.9, 11.10 and 11.11 of
EDGA Exchange, Inc.
July 15, 2015.
On February 20, 2015, EDGA
Exchange, Inc. (‘‘Exchange’’ or ‘‘EDGA’’)
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 amend Rules 11.6, 11.8, 11.9,
11.10 and 11.11 to clarify and to include
additional specificity regarding the
current functionality of the Exchange’s
system, including the operation of its
order types and order instructions. On
February 27, 2015, the Exchange filed
Amendment No. 1 to the proposal.3 The
proposed rule change, as modified by
Amendment No. 1, was published for
comment in the Federal Register on
March 10, 2015.4 On April 17, 2015, the
Commission extended the time period
in which to either approve or
disapprove the proposed rule change, as
modified by Amendment No. 1, to June
8, 2015.5 The Commission received no
comment letters on the proposed rule
change, as modified by Amendment No.
1. On June 5, 2015, EDGA withdrew the
proposed rule change, as modified by
Amendment No. 1 (SR–EDGA–2015–
10).
18 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 replaced SR–EDGA–2015–10
and superseded such filing in its entirety.
4 See Securities Exchange Act Release No. 74435
(March 4, 2015), 80 FR 12655.
5 See Securities Exchange Act Release No. 74763
(April 17, 2015), 80 FR 22751 (April 23, 2015).
1 15
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Federal Register / Vol. 80, No. 139 / Tuesday, July 21, 2015 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Robert W. Errett,
Deputy Secretary.
SECURITIES AND EXCHANGE
COMMISSION
[FR Doc. 2015–17758 Filed 7–20–15; 8:45 am]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Customer Rebate Program, Multiply
Listed Options, and Singly-Listed
Options
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75457; File No. SR–EDGX–
2015–08]
[Release No. 34–75455; File No. SR–Phlx–
2015–61]
July 15, 2015.
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Notice of Withdrawal
of Proposed Rule Change, as Modified
by Amendment No. 1, To Amend Rules
11.6, 11.8, 11.9, 11.10 and 11.11 of
EDGX Exchange, Inc.
July 15, 2015.
On February 20, 2015, EDGX
Exchange, Inc. (‘‘Exchange’’ or ‘‘EDGX’’)
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 amend Rules 11.6, 11.8, 11.9,
11.10 and 11.11 to clarify and to include
additional specificity regarding the
current functionality of the Exchange’s
system, including the operation of its
order types and order instructions. On
February 27, 2015, the Exchange filed
Amendment No. 1 to the proposal.3 The
proposed rule change, as modified by
Amendment No. 1, was published for
comment in the Federal Register on
March 10, 2015.4 On April 17, 2015, the
Commission extended the time period
in which to either approve or
disapprove the proposed rule change, as
modified by Amendment No. 1, to June
8, 2015.5 The Commission received no
comment letters on the proposed rule
change, as modified by Amendment No.
1. On June 5, 2015, EDGX withdrew the
proposed rule change, as modified by
Amendment No. 1 (SR–EDGX–2015–
08).
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–17756 Filed 7–20–15; 8:45 am]
asabaliauskas on DSK5VPTVN1PROD with NOTICES
BILLING CODE 8011–01–P
6 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 replaced SR–EDGX–2015–08
and superseded such filing in its entirety.
4 See Securities Exchange Act Release No. 74439
(March 4, 2015), 80 FR 12666.
5 See Securities Exchange Act Release No. 74762
(April 17, 2015), 80 FR 22753 (April 23, 2015).
6 17 CFR 200.30–3(a)(12).
1 15
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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 July 1,
2015, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II,
and III, below, which Items have been
prepared by the Exchange. 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 modify the
Phlx Pricing Schedule (‘‘Pricing
Schedule’’). Specifically, the Exchange
proposes to amend pricing in Section B,
entitled ‘‘Customer Rebate Program,’’ 3
Section II, entitled ‘‘Multiply Listed
Options Fees,’’ 4 and Section III, entitled
‘‘Singly Listed Options,’’ 5 of the Pricing
Schedule. The Exchange proposes these
amendments in order to: (i) Increase the
rebates specifically for Tier 4 and Tier
5 (Category B) electronic Complex 6 and
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 The term ‘‘Customer’’ applies to any transaction
that is identified by a member or member
organization for clearing in the Customer range at
The Options Clearing Corporation (‘‘OCC’’) which
is not for the account of broker or dealer or for the
account of a ‘‘Professional’’ (as that term is defined
in Rule 1000(b)(14).
4 This includes options overlying equities,
exchange traded funds (‘‘ETFs’’), exchange traded
notes (‘‘ETNs’’) and indexes which are Multiply
Listed.
5 This includes options overlying foreign
exchange (‘‘FX’’), equities, ETFs, ETNs, and indexes
not listed on another exchange.
6 A Complex Order is any order involving the
simultaneous purchase and/or sale of two or more
different options series in the same underlying
security, priced at a net debit or credit based on the
relative prices of the individual components, for the
same account, for the purpose of executing a
particular investment strategy. Furthermore, a
Complex Order can also be a stock-option order,
which is an order to buy or sell a stated number
of units of an underlying stock or ETF coupled with
the purchase or sale of options contract(s). See
Exchange Rule 1080, Commentary .07(a)(i).
PO 00000
1 15
2 17
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43151
Complex PIXL 7 Orders 8; (ii) increase
the assessment of Multiply Listed
Options fees for non-Penny Pilot 9
Options for electronic Professional,10
Broker-Dealer,11 and Firm 12 orders; (iii)
delete Customer Rebate Tier 2 and Tier
3 from notes 13 [sic] and 14 dealing
with Common Ownership; 13 and (iv)
increase the assessment of Singly-Listed
FX options 14 fees for Professional,
Broker-Dealer, and Firm orders.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.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
Exchange 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. The
7 PIXLSM is the Exchange’s price improvement
mechanism known as Price Improvement XL or
PIXL. See Rule 1080(n).
8 A transaction resulting from an order that was
electronically delivered utilizes Phlx XL. See
Exchange Rules 1014 and 1080. Electronically
delivered orders do not include orders transacted
on the Exchange floor. A transaction resulting from
an order that is non-electronically-delivered is
represented on the trading floor by a floor broker.
See Exchange Rule 1063. All orders are either
electronically or non-electronically delivered.
9 The Penny Pilot was established in January 2007
and was last extended in 2015. See Securities
Exchange Act Release Nos. 55153 (January 23,
2007), 72 FR 4553 (January 31, 2007) (SR–Phlx–
2006–74) (notice of filing and approval order
establishing Penny Pilot); and 75286 (June 24, 2015)
(SR–Phlx–2015–54) (notice of filing and immediate
effectiveness extending the Penny Pilot through
June 30, 2016). Non-Penny Pilot Options are
options other than Penny Pilot Options listed on the
Exchange (e.g. AAPL, BAC, EEM, FB, FXI, IWM,
QQQ, TWTR, VXX and XLF), which can be found
at https://www.nasdaqtrader.com/
Micro.aspx?id=phlx.
10 The term ‘‘Professional’’ means any person or
entity that (i) is not a broker or dealer in securities,
and (ii) places more than 390 orders in listed
options per day on average during a calendar month
for its own beneficial account(s). See Rule
1000(b)(14).
11 The term ‘‘Broker-Dealer’’ applies to any
transaction which is not subject to any of the other
transaction fees applicable within a particular
category.
12 The term ‘‘Firm’’ applies to any transaction that
is identified by a member or member organization
for clearing in the Firm range at The Options
Clearing Corporation.
13 The term ‘‘Common Ownership’’ means
members or member organizations under 75%
common ownership or control.
14 FX options include XDB, XDE, XDN, XDS,
XDA, XDM, XEH, XEV, XDZ, XDC, and XDV.
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]]>Agencies
[Federal Register Volume 80, Number 139 (Tuesday, July 21, 2015)]
[Notices]
[Pages 43150-43151]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-17758]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75459; File No. SR-EDGA-2015-10]
Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of
Withdrawal of Proposed Rule Change, as Modified by Amendment No. 1, To
Amend Rules 11.6, 11.8, 11.9, 11.10 and 11.11 of EDGA Exchange, Inc.
July 15, 2015.
On February 20, 2015, EDGA Exchange, Inc. (``Exchange'' or
``EDGA'') 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 amend Rules 11.6, 11.8, 11.9, 11.10 and 11.11
to clarify and to include additional specificity regarding the current
functionality of the Exchange's system, including the operation of its
order types and order instructions. On February 27, 2015, the Exchange
filed Amendment No. 1 to the proposal.\3\ The proposed rule change, as
modified by Amendment No. 1, was published for comment in the Federal
Register on March 10, 2015.\4\ On April 17, 2015, the Commission
extended the time period in which to either approve or disapprove the
proposed rule change, as modified by Amendment No. 1, to June 8,
2015.\5\ The Commission received no comment letters on the proposed
rule change, as modified by Amendment No. 1. On June 5, 2015, EDGA
withdrew the proposed rule change, as modified by Amendment No. 1 (SR-
EDGA-2015-10).
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Amendment No. 1 replaced SR-EDGA-2015-10 and superseded such
filing in its entirety.
\4\ See Securities Exchange Act Release No. 74435 (March 4,
2015), 80 FR 12655.
\5\ See Securities Exchange Act Release No. 74763 (April 17,
2015), 80 FR 22751 (April 23, 2015).
[[Page 43151]]
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-17758 Filed 7-20-15; 8:45 am]
BILLING CODE 8011-01-P
