Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to a Proposal to Update the Public Disclosure of Sources of Data BX Utilizes, 48611-48612 [2015-19879]
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48611
Federal Register / Vol. 80, No. 156 / Thursday, August 13, 2015 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75638; File No. SR–BX–
2015–048]
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change to a Proposal
to Update the Public Disclosure of
Sources of Data BX Utilizes
August 7, 2015.
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 August 5,
2015, NASDAQ OMX BX, Inc. (‘‘BX’’ 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 update
Exchange Rule 4759 and to amend the
public disclosure of the sources of data
that the Exchange utilizes when
performing (1) order handling and
execution; (2) order routing; and (3)
related compliance processes.
The text of the proposed rule change
is below. Proposed new language is in
italics; proposed deletions are
bracketed.
*
*
*
*
*
4759. Data Feeds Utilized
The BX System utilizes the below
proprietary and network processor feeds
[utilized by the System] for the
handling, routing, and execution of
orders, as well as for the regulatory
compliance processes related to those
functions. The Secondary Source of data
is, where applicable, utilized only in
emergency market conditions and only
until those emergency conditions are
resolved.
Market center
Primary source
A—NYSE MKT (AMEX) .........................................................
B—NASDAQ OMX BX ..........................................................
C—NSX .................................................................................
D—FINRA ADF ......................................................................
J—DirectEdge A ....................................................................
K—DirectEdge X ....................................................................
M—CSX .................................................................................
N—NYSE ...............................................................................
P—NYSE Arca .......................................................................
T/Q—NASDAQ ......................................................................
X—NASDAQ OMX PSX ........................................................
Y—BATS Y-Exchange ...........................................................
Z—BATS Exchange ...............................................................
[CQS/UQDF] NYSE MKT OpenBook Ultra ...........................
BX ITCH 5.0 ..........................................................................
CQS/UQDF ............................................................................
CQS/UQDF ............................................................................
[EdgeBook] BATS PITCH ......................................................
[EdgeBook] BATS PITCH ......................................................
CQS/UQDF ............................................................................
NYSE OpenBook Ultra ..........................................................
[ArcaBook Binary uncompacted] NYSE ARCA XDP ............
ITCH 5.0 ................................................................................
PSX ITCH 5.0 ........................................................................
BATS PITCH .........................................................................
BATS PITCH .........................................................................
*
*
*
*
*
(b) Not applicable.
(c) Not applicable.
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 aspects 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 update and
amend the table in Exchange Rule 4759
that sets forth on a market-by-market
basis the specific network processor and
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
16:56 Aug 12, 2015
proprietary data feeds that the Exchange
utilizes for the handling, routing, and
execution of orders, and for performing
the regulatory compliance checks
related to each of those functions.
Specifically, the table will be
amended to include National Stock
Exchange (‘‘NSX’’), which has informed
the UTP Securities Information
Processor (‘‘UTP SIP’’) that, subject to
regulatory approval, it is projecting to
reactivate its status as an operating
participant for quotation and trading of
NASDAQ-listed securities under the
Unlisted Trading Privileges (‘‘UTP’’)
Plan on or about August 31, 2015. The
other changes to the table merely reflect
updates to mirror the current network
processor and proprietary data feeds
utilized by the Exchange for the
handling, routing, and execution of
orders, and for performing the
regulatory compliance checks related to
each of those functions.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,3
in general and with Sections 6(b)(5) of
3 15
4 15
Jkt 235001
PO 00000
Secondary source
the Act,4 in particular in that it is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities, 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 Exchange believes that its
proposal to update the table in
Exchange Rule 4759 to make certain it
is current, as well as to amend the table
to include NSX, would ensure that
Exchange Rule 4759 correctly identifies
and publicly states on a market-bymarket basis all of the specific network
processor and proprietary data feeds
that the Exchange utilizes for the
handling, routing, and execution of
orders, and for performing the
regulatory compliance checks related to
each of those functions, and that the
proposed rule change removes
impediments to and perfects the
U.S.C. 78f.
U.S.C. 78f(b)(5).
Frm 00136
Fmt 4703
Sfmt 4703
[n/a] CQS/UQDF
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n/a
n/a
CQS/UQDF
CQS/UQDF
n/a
CQS/UQDF
CQS/UQDF
CQS/UQDF
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E:\FR\FM\13AUN1.SGM
13AUN1
48612
Federal Register / Vol. 80, No. 156 / Thursday, August 13, 2015 / Notices
mechanism of a free and open market
and protects investors and the public
interest because it provides additional
specificity, clarity and transparency.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
To the contrary, the Exchange believes
the proposal would enhance
competition because including all of the
exchanges enhances transparency and
enables investors to better assess the
quality of the Exchange’s execution and
routing services.
tkelley on DSK3SPTVN1PROD with NOTICES
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
Because the foregoing 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 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) 5 of the Act and Rule 19b4(f)(6) thereunder.6 The Exchange
believes that this proposed rule change
is properly designated as noncontroversial because it enhances clarity
and operational transparency without
modifying members’ rights or
obligations. The Exchange provided
notice of the proposed rule change on
July 27, 2015.
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: (i) Necessary or appropriate in
the public interest; (ii) for the protection
of investors; or (iii) 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 proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
SECURITIES AND EXCHANGE
COMMISSION
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–
BX–2015–048 on the subject line.
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Chapter XV, Section 2 Entitled
‘‘NASDAQ Options Market—Fees and
Rebates’’
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–BX–2015–048. 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–BX–2015–048 and should
be submitted on or before September 3,
2015.
August 7, 2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015–19879 Filed 8–12–15; 8:45 am]
[Release No. 34–75647; File No. SR–
NASDAQ–2015–090]
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 31,
2015, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ 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 amend the
Exchange’s transaction fees at Chapter
XV, Section 2 entitled ‘‘NASDAQ
Options Market—Fees and Rebates,’’
which governs pricing for NASDAQ
members using the NASDAQ Options
Market (‘‘NOM’’), NASDAQ’s facility for
executing and routing standardized
equity and index options.
While the changes proposed herein
are effective upon filing, the Exchange
has designated such changes to become
operative on August 3, 3015.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaq.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
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
BILLING CODE 8011–01–P
5 15
U.S.C. 78s(b)(3)(A).
6 17 CFR 240.19b–4(f)(6).
VerDate Sep<11>2014
16:56 Aug 12, 2015
1 15
7 17
Jkt 235001
PO 00000
CFR 200.30–3(a)(12).
Frm 00137
Fmt 4703
2 17
Sfmt 4703
E:\FR\FM\13AUN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b-4.
13AUN1
]]>Agencies
[Federal Register Volume 80, Number 156 (Thursday, August 13, 2015)]
[Notices]
[Pages 48611-48612]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19879]
[[Page 48611]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75638; File No. SR-BX-2015-048]
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to a
Proposal to Update the Public Disclosure of Sources of Data BX Utilizes
August 7, 2015.
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 August 5, 2015, NASDAQ OMX BX, Inc. (``BX'' 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.
---------------------------------------------------------------------------
\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
The Exchange proposes to update Exchange Rule 4759 and to amend the
public disclosure of the sources of data that the Exchange utilizes
when performing (1) order handling and execution; (2) order routing;
and (3) related compliance processes.
The text of the proposed rule change is below. Proposed new
language is in italics; proposed deletions are bracketed.
* * * * *
4759. Data Feeds Utilized
The BX System utilizes the below proprietary and network processor
feeds [utilized by the System] for the handling, routing, and execution
of orders, as well as for the regulatory compliance processes related
to those functions. The Secondary Source of data is, where applicable,
utilized only in emergency market conditions and only until those
emergency conditions are resolved.
------------------------------------------------------------------------
Market center Primary source Secondary source
------------------------------------------------------------------------
A--NYSE MKT (AMEX).......... [CQS/UQDF] NYSE [n/a] CQS/UQDF
MKT OpenBook
Ultra.
B--NASDAQ OMX BX............ BX ITCH 5.0.... CQS/UQDF
C--NSX...................... CQS/UQDF....... n/a
D--FINRA ADF................ CQS/UQDF....... n/a
J--DirectEdge A............. [EdgeBook] BATS CQS/UQDF
PITCH.
K--DirectEdge X............. [EdgeBook] BATS CQS/UQDF
PITCH.
M--CSX...................... CQS/UQDF....... n/a
N--NYSE..................... NYSE OpenBook CQS/UQDF
Ultra.
P--NYSE Arca................ [ArcaBook CQS/UQDF
Binary
uncompacted]
NYSE ARCA XDP.
T/Q--NASDAQ................. ITCH 5.0....... CQS/UQDF
X--NASDAQ OMX PSX........... PSX ITCH 5.0... CQS/UQDF
Y--BATS Y-Exchange.......... BATS PITCH..... CQS/UQDF
Z--BATS Exchange............ BATS PITCH..... CQS/UQDF
------------------------------------------------------------------------
* * * * *
(b) Not applicable.
(c) Not applicable.
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 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 update and amend the table in Exchange
Rule 4759 that sets forth on a market-by-market basis the specific
network processor and proprietary data feeds that the Exchange utilizes
for the handling, routing, and execution of orders, and for performing
the regulatory compliance checks related to each of those functions.
Specifically, the table will be amended to include National Stock
Exchange (``NSX''), which has informed the UTP Securities Information
Processor (``UTP SIP'') that, subject to regulatory approval, it is
projecting to reactivate its status as an operating participant for
quotation and trading of NASDAQ-listed securities under the Unlisted
Trading Privileges (``UTP'') Plan on or about August 31, 2015. The
other changes to the table merely reflect updates to mirror the current
network processor and proprietary data feeds utilized by the Exchange
for the handling, routing, and execution of orders, and for performing
the regulatory compliance checks related to each of those functions.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general and with
Sections 6(b)(5) of the Act,\4\ in particular in that it is designed to
prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, 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.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that its proposal to update the table in
Exchange Rule 4759 to make certain it is current, as well as to amend
the table to include NSX, would ensure that Exchange Rule 4759
correctly identifies and publicly states on a market-by-market basis
all of the specific network processor and proprietary data feeds that
the Exchange utilizes for the handling, routing, and execution of
orders, and for performing the regulatory compliance checks related to
each of those functions, and that the proposed rule change removes
impediments to and perfects the
[[Page 48612]]
mechanism of a free and open market and protects investors and the
public interest because it provides additional specificity, clarity and
transparency.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. To
the contrary, the Exchange believes the proposal would enhance
competition because including all of the exchanges enhances
transparency and enables investors to better assess the quality of the
Exchange's execution and routing services.
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
Because the foregoing 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 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) \5\ of the Act and Rule 19b-
4(f)(6) thereunder.\6\ The Exchange believes that this proposed rule
change is properly designated as non-controversial because it enhances
clarity and operational transparency without modifying members' rights
or obligations. The Exchange provided notice of the proposed rule
change on July 27, 2015.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) 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 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-BX-2015-048 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-BX-2015-048. 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-BX-2015-048 and
should be submitted on or before September 3, 2015.
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2015-19879 Filed 8-12-15; 8:45 am]
BILLING CODE 8011-01-P
