Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to Fees for Use of EDGX Exchange, Inc., 47964-47966 [2015-19535]
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47964
Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
Dated at Rockville, Maryland, this 31 day
of July, 2015.
For the Nuclear Regulatory Commission.
A. Louise Lund,
Acting Director, Division of Operating Reactor
Licensing, Office of Nuclear Reactor
Regulation.
[FR Doc. 2015–19587 Filed 8–7–15; 8:45 am]
BILLING CODE 7590–01–P
POSTAL REGULATORY COMMISSION
[Docket No. CP2013–44; Order No. 2635]
New Postal Product
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing a
recent Postal Service filing concerning
an amendment to Priority Mail Express
& Priority Mail Contract 12 negotiated
service agreement. This notice informs
the public of the filing, invites public
comment, and takes other
administrative steps.
DATES: Comments are due: August 11,
2015.
SUMMARY:
seal. The Postal Service seeks to
incorporate by reference the Application
for Non-Public Treatment originally
filed in this docket for the protection of
information that it has filed under seal.
Id.
Amendment 2 revises section I of the
contract by inserting in section I, Terms,
new sections I.F and I.G, and replacing
section II, Annual Adjustment, in its
entirety. Id. Attachment A at 1.
The Postal Service intends for
Amendment 2 to become effective one
business day after the date that the
Commission issues all necessary
regulatory approval. Id. The Postal
Service asserts that the Amendment will
not impair the ability of the contract to
comply with 39 U.S.C. 3633(a). Notice,
Attachment B.
II. Notice of Filings
Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
The Commission invites comments on
whether the changes presented in the
Postal Service’s Notice are consistent
with the policies of 39 U.S.C. 3632,
3633, or 3642, 39 CFR 3015.5, and 39
CFR part 3020, subpart B. Comments are
due no later than August 11, 2015. The
public portions of these filings can be
accessed via the Commission’s Web site
(https://www.prc.gov).
The Commission appoints Lyudmila
Y. Bzhilyanskaya to represent the
interests of the general public (Public
Representative) in this docket.
FOR FURTHER INFORMATION CONTACT:
III. Ordering Paragraphs
ADDRESSES:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Notice of Commission Action
III. Ordering Paragraphs
tkelley on DSK3SPTVN1PROD with NOTICES
I. Introduction
On July 31, 2015, the Postal Service
filed notice that it has agreed to an
Amendment to the existing Priority Mail
Express & Priority Mail Contract 12
negotiated service agreement approved
in this docket.1 In support of its Notice,
the Postal Service includes a redacted
copy of Amendment 2 and a
certification of compliance with 39
U.S.C. 3633(a), as required by 39 CFR
3015.5. Notice at 1.
The Postal Service also filed the
unredacted Amendment 2 and
supporting financial information under
It is ordered:
1. The Commission reopens Docket
No. CP2013–44 for consideration of
matters raised by the Postal Service’s
Notice.
2. Pursuant to 39 U.S.C. 505, the
Commission appoints Lyudmila Y.
Bzhilyanskaya to serve as an officer of
the Commission (Public Representative)
to represent the interests of the general
public in this proceeding.
3. Comments are due no later than
August 11, 2015.
4. The Secretary shall arrange for
publication of this order in the Federal
Register.
By the Commission.
Ruth Ann Abrams,
Acting Secretary.
[FR Doc. 2015–19531 Filed 8–7–15; 8:45 am]
BILLING CODE 7710–FW–P
1 Notice
of United States Postal Service of Change
in Prices Pursuant to Amendment to Priority Mail
Express & Priority Mail Contract 12, July 31, 2015
(Notice).
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75594; File No. SR–EDGX–
2015–35]
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Related to Fees for Use
of EDGX Exchange, Inc.
August 4, 2015
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 28,
2015, EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) 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 Exchange. The Exchange has
designated the proposed rule change as
one establishing or changing a member
due, fee, or other charge imposed by the
Exchange under Section 19(b)(3)(A)(ii)
of the Act 3 and Rule 19b–4(f)(2)
thereunder,4 which renders the
proposed rule change effective upon
filing with the Commission. 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 filed a proposal to
amend its schedule of fees and rebates
applicable to Members 5 and nonMembers of the Exchange pursuant to
EDGX Rule 15.1(a) and (c) (‘‘Fee
Schedule’’) to remove fee code 5, which
is appended to trades that inadvertently
match against each other and share the
same Market Participant Identifier
(‘‘MPID’’) (‘‘Internalized Trade’’) during
the Pre-Opening 6 and Post-Closing
Sessions.7
The text of the proposed rule change
is available at the Exchange’s Web site
at www.batstrading.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
5 The term ‘‘Member’’ is defined as ‘‘any
registered broker or dealer that has been admitted
to membership in the Exchange.’’ See Exchange
Rule 1.5(n).
6 The ‘‘Pre-Opening Session’’ is defined as ‘‘the
time between 8:00 a.m. and 9:30 a.m. Eastern
Time.’’ See Exchange Rule 1.5(r).
7 The ‘‘Post-Closing Session’’ is defined as ‘‘the
time between 4:00 p.m. and 8:00 p.m. Eastern
Time.’’ See Exchange Rule 1.5(s).
2 17
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10AUN1
Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / 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
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
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant parts of such
statements.
tkelley on DSK3SPTVN1PROD with NOTICES
(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 its
Fee Schedule to remove fee code 5,
which is appended to Internalized
Trade that add or remove liquidity
during the Pre-Opening and PostClosing Sessions. Orders that yield fee
code 5 are changed [sic] a fee of
$0.00045 per share in securities priced
at or above $1.00 and 0.15% of the
dollar value of the trade in securities
priced below $1.00. During Regular
Trading Hours,8 fee code EA is
appended to side of an Internalized
Trade that adds liquidity, while fee code
ER is appended to the side of an
Internalized Trade that removes
liquidity. Going forward, fee codes EA
or ER will also be appended to
Internalized Trades during the PreOpening and Post-Closing Sessions.
Like fee code 5, orders that yield fee
codes EA or ER are charged a fee of
$0.00045 per share in securities priced
at or above $1.00 and 0.15% of the
dollar value of the trade in securities
priced below $1.00.
As a result of the proposed removal of
fee code 5, the Exchange also proposes
to: (i) remove reference to fee code 5
from footnote 7 and; (ii) delete footnote
10. Under footnote 7, if a Member adds
an ADV of at least 10,000,000 shares,
then the Member’s rate for fee codes 5,
EA, or ER decreases to $0.0001 per share
per side. Fee codes EA and ER would
continue to remain eligible for the
reduced fee under footnote 7. Footnote
10 states that a Member’s monthly
volume attributed to fee code 5 will be
allocated accordingly between the
added fee codes and removal fee codes
when determining whether that Member
8 The ‘‘Regular Trading Hours’’ is defined as ‘‘the
time between 9:30 a.m. and 4:00 p.m. Eastern
Time.’’ See Exchange Rule 1.5(y).
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satisfied a certain tier. The Exchange
proposes to delete footnote 10 as it will
no longer be necessary once fee code 5
is deleted.
Implementation Date
The Exchange proposes to implement
these amendments to its Fee Schedule
on August 3, 2015.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of Section 6 of the Act,9
in general, and furthers the objectives of
Section 6(b)(4),10 in particular, as it is
designed to provide for the equitable
allocation of reasonable dues, fees and
other charges among its Members and
other persons using its facilities.
Specifically, the Exchange believes it is
equitable, reasonable and nondiscriminatory to delete fee code 5
because, going forward, fee codes EA
and ER will be applied to the applicable
side of an Internalized Trade. The
proposed deletion of fee code 5 does not
amend the fees charged for Internalized
Trades. Members would continue to be
charged identical fees for Internalized
Trades occurring during the PreOpening and Post-Closing sessions as
the fees charged for fee codes EA and ER
are the same as fee code 5. The charge
for Members inadvertently matching
with themselves will continue to be no
more favorable than the Exchange’s
maker/taker spread enabling the
Exchange to continue to discourage
potential wash sales.11 In addition, the
Exchange believes it is equitable and
reasonable to remove a reference to fee
code 5 in footnote 7 and delete footnote
10 as they are no longer necessary in
light of the deletion of fee code 5 from
the Exchange’s Fee Schedule. Lastly, the
Exchange also believes that the
proposed amendment is nondiscriminatory because it applies
uniformly to all Members.
(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. The
proposed changes do not amend the
amount or application of any fee or
rebate. Members would continue to be
charged identical fees for Internalized
Trades occurring during the PreOpening and Post-Closing sessions as
the fees charged for fee codes EA and ER
9 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
11 The Exchange will continue to ensure that the
fees applicable to Internalized Trades are no more
favorable than the Exchange’s prevailing maker/
taker spread.
10 15
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47965
are the same as those fees charged for
orders that yielded fee code 5.
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
Members or other 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)
of the Act 12 and paragraph (f) of Rule
19b–4 thereunder.13 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 Number SR–
EDGX–2015–35 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–EDGX–2015–35. 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
12 15
13 17
E:\FR\FM\10AUN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
10AUN1
47966
Federal Register / Vol. 80, No. 153 / Monday, August 10, 2015 / Notices
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 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–EDGX–
2015–35 and should be submitted on or
before August 31, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–19535 Filed 8–7–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75593; File No. SR–EDGA–
2015–29]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Related to Fees for Use
of EDGA Exchange, Inc.
tkelley on DSK3SPTVN1PROD with NOTICES
August 4, 2015.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 28,
2015, EDGA Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGA’’) 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 Exchange. The Exchange has
designated the proposed rule change as
one establishing or changing a member
due, fee, or other charge imposed by the
Exchange under Section 19(b)(3)(A)(ii)
of the Act 3 and Rule 19b–4(f)(2)
thereunder,4 which renders the
14 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
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Jkt 235001
proposed rule change effective upon
filing with the Commission. 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 filed a proposal to
amend its fees and rebates applicable to
Members 5 of the Exchange pursuant to
EDGA Rule 15.1(a) and (c) (‘‘Fee
Schedule’’) to: (i) To remove fee codes
5, EA, and ER which are appended to
trades that inadvertently match against
each other and share the same Market
Participant Identifier (‘‘MPID’’)
(‘‘Internalized Trade’’); and (ii) amend
the criteria for the MidPoint
Discretionary Order Add Volume Tier.
The text of the proposed rule change
is available at the Exchange’s Web site
at www.batstrading.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
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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to: (i) To
remove fee codes 5, EA, and ER which
are appended to Internalized Trades;
and (ii) amend the criteria for the
MidPoint Discretionary Order Add
Volume Tier.
Fee Codes 5, EA, and ER
The Exchange proposes to remove fee
codes 5, EA, and ER which are
appended to Internalized Trades as well
as footnote 13. During Regular Trading
5 The term ‘‘Member’’ is defined as ‘‘any
registered broker or dealer, or any person associated
with a registered broker or dealer, that has been
admitted to membership in the Exchange. A
Member will have the status of a ‘‘member’’ of the
Exchange as that term is defined in Section 3(a)(3)
of the Act.’’ See Exchange Rule 1.5(n).
PO 00000
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Hours,6 fee code EA is appended to side
of an Internalized Trade that adds
liquidity while fee code ER is appended
to the side of an Internalized Trade that
removes liquidity. Fee code 5 is
appended to Internalized Trades that
add or remove liquidity during the PreOpening 7 and Post-Closing Sessions.8
Orders that yield fee codes 5, EA, or ER
are charged a fee of $0.00015 per share
in securities priced at or above $1.00
and are charged no fee in securities
priced below $1.00. Going forward, each
side of an Internalized Trade will be
subject to the Exchange’s standard fees
or rebates. Under the Exchange’s
standard rates, a rebate of $0.0002 per
share is provided to orders that remove
liquidity in securities priced at or above
$1.00. For orders that add liquidity, a
charge of $0.0005 per share is applied
for orders in securities priced at or
above $1.00, unless the Member
qualifies for a decreased fee. Orders in
securities priced below $1.00 are free,
regardless of whether they add or
remove liquidity.
The Exchange also proposes to delete
footnote 13, which states that a
Member’s monthly volume attributed to
fee code 5 will be allocated accordingly
between the added fee codes and
removal fee codes when determining
whether that Member satisfied a certain
tier. The Exchange proposes to delete
footnote 13 as it will no longer be
necessary once fee code 5 is deleted.
MidPoint Discretionary Order Add
Volume Tier
The Exchange proposes to amend the
criteria for the MidPoint Discretionary
Order Add Volume Tier. Under the tier,
a Member qualifies for a reduced fee of
$0.0003 per share where that Member:
(i) Adds an ADV of at least 0.20% of the
TCV including non-displayed orders
that add liquidity; and (ii) adds or
removes an ADV of at least 500,000
shares yielding fee codes DM or DT. Fee
code DM is applied to non-displayed
orders that add liquidity using MidPoint
Discretionary Orders 9 and fee code DT
is applied to non-displayed orders that
remove liquidity using MidPoint
Discretionary Orders. Orders that yield
fee code DM or fee code DT that do not
meet to the criteria of the MidPoint
Discretionary Order Add Volume Tier
6 The ‘‘Regular Trading Hours’’ is defined as ‘‘the
time between 9:30 a.m. and 4:00 p.m. Eastern
Time.’’ See Exchange Rule 1.5(y).
7 The ‘‘Pre-Opening Session’’ is defined as ‘‘the
time between 8:00 a.m. and 9:30 a.m. Eastern
Time.’’ See Exchange Rule 1.5(r).
8 The ‘‘Post-Closing Session’’ is defined as ‘‘the
time between 4:00 p.m. and 8:00 p.m. Eastern
Time.’’ See Exchange Rule 1.5(s).
9 See Exchange Rule 11.8(e) for a description of
MidPoint Discretionary Orders.
E:\FR\FM\10AUN1.SGM
10AUN1
]]>Agencies
[Federal Register Volume 80, Number 153 (Monday, August 10, 2015)]
[Notices]
[Pages 47964-47966]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19535]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75594; File No. SR-EDGX-2015-35]
Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change Related to
Fees for Use of EDGX Exchange, Inc.
August 4, 2015
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on July 28, 2015, EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') 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 Exchange. The
Exchange has designated the proposed rule change as one establishing or
changing a member due, fee, or other charge imposed by the Exchange
under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2)
thereunder,\4\ which renders the proposed rule change effective upon
filing with the Commission. 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange filed a proposal to amend its schedule of fees and
rebates applicable to Members \5\ and non-Members of the Exchange
pursuant to EDGX Rule 15.1(a) and (c) (``Fee Schedule'') to remove fee
code 5, which is appended to trades that inadvertently match against
each other and share the same Market Participant Identifier (``MPID'')
(``Internalized Trade'') during the Pre-Opening \6\ and Post-Closing
Sessions.\7\
---------------------------------------------------------------------------
\5\ The term ``Member'' is defined as ``any registered broker or
dealer that has been admitted to membership in the Exchange.'' See
Exchange Rule 1.5(n).
\6\ The ``Pre-Opening Session'' is defined as ``the time between
8:00 a.m. and 9:30 a.m. Eastern Time.'' See Exchange Rule 1.5(r).
\7\ The ``Post-Closing Session'' is defined as ``the time
between 4:00 p.m. and 8:00 p.m. Eastern Time.'' See Exchange Rule
1.5(s).
---------------------------------------------------------------------------
The text of the proposed rule change is available at the Exchange's
Web site at www.batstrading.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.
[[Page 47965]]
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 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend its Fee Schedule to remove fee code
5, which is appended to Internalized Trade that add or remove liquidity
during the Pre-Opening and Post-Closing Sessions. Orders that yield fee
code 5 are changed [sic] a fee of $0.00045 per share in securities
priced at or above $1.00 and 0.15% of the dollar value of the trade in
securities priced below $1.00. During Regular Trading Hours,\8\ fee
code EA is appended to side of an Internalized Trade that adds
liquidity, while fee code ER is appended to the side of an Internalized
Trade that removes liquidity. Going forward, fee codes EA or ER will
also be appended to Internalized Trades during the Pre-Opening and
Post-Closing Sessions. Like fee code 5, orders that yield fee codes EA
or ER are charged a fee of $0.00045 per share in securities priced at
or above $1.00 and 0.15% of the dollar value of the trade in securities
priced below $1.00.
---------------------------------------------------------------------------
\8\ The ``Regular Trading Hours'' is defined as ``the time
between 9:30 a.m. and 4:00 p.m. Eastern Time.'' See Exchange Rule
1.5(y).
---------------------------------------------------------------------------
As a result of the proposed removal of fee code 5, the Exchange
also proposes to: (i) remove reference to fee code 5 from footnote 7
and; (ii) delete footnote 10. Under footnote 7, if a Member adds an ADV
of at least 10,000,000 shares, then the Member's rate for fee codes 5,
EA, or ER decreases to $0.0001 per share per side. Fee codes EA and ER
would continue to remain eligible for the reduced fee under footnote 7.
Footnote 10 states that a Member's monthly volume attributed to fee
code 5 will be allocated accordingly between the added fee codes and
removal fee codes when determining whether that Member satisfied a
certain tier. The Exchange proposes to delete footnote 10 as it will no
longer be necessary once fee code 5 is deleted.
Implementation Date
The Exchange proposes to implement these amendments to its Fee
Schedule on August 3, 2015.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\9\ in general, and
furthers the objectives of Section 6(b)(4),\10\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its Members and other persons using its
facilities. Specifically, the Exchange believes it is equitable,
reasonable and non-discriminatory to delete fee code 5 because, going
forward, fee codes EA and ER will be applied to the applicable side of
an Internalized Trade. The proposed deletion of fee code 5 does not
amend the fees charged for Internalized Trades. Members would continue
to be charged identical fees for Internalized Trades occurring during
the Pre-Opening and Post-Closing sessions as the fees charged for fee
codes EA and ER are the same as fee code 5. The charge for Members
inadvertently matching with themselves will continue to be no more
favorable than the Exchange's maker/taker spread enabling the Exchange
to continue to discourage potential wash sales.\11\ In addition, the
Exchange believes it is equitable and reasonable to remove a reference
to fee code 5 in footnote 7 and delete footnote 10 as they are no
longer necessary in light of the deletion of fee code 5 from the
Exchange's Fee Schedule. Lastly, the Exchange also believes that the
proposed amendment is non-discriminatory because it applies uniformly
to all Members.
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\9\ 15 U.S.C. 78f.
\10\ 15 U.S.C. 78f(b)(4).
\11\ The Exchange will continue to ensure that the fees
applicable to Internalized Trades are no more favorable than the
Exchange's prevailing maker/taker spread.
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(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. The proposed changes do not amend the
amount or application of any fee or rebate. Members would continue to
be charged identical fees for Internalized Trades occurring during the
Pre-Opening and Post-Closing sessions as the fees charged for fee codes
EA and ER are the same as those fees charged for orders that yielded
fee code 5.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from Members or other 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) of the Act \12\ and paragraph (f) of Rule 19b-4
thereunder.\13\ 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.
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\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f).
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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-EDGX-2015-35 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-EDGX-2015-35. 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
[[Page 47966]]
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 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-EDGX-2015-35 and should be
submitted on or before August 31, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
Robert W. Errett,
Deputy Secretary.
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\14\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2015-19535 Filed 8-7-15; 8:45 am]
BILLING CODE 8011-01-P
