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”, 57262-57263 [2015-23974]
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57262
Federal Register / Vol. 80, No. 183 / Tuesday, September 22, 2015 / Notices
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 10–222. 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/other.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to IEX’s Form 1 filed with
the Commission, and all written
communications relating to the
application 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. 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 publicly available. All
submissions should refer to File
Number 10–222 and should be
submitted on or before November 6,
2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Brent J. Fields,
Secretary.
[FR Doc. 2015–23972 Filed 9–21–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75931; File No. SR–
NASDAQ–2015–109]
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’’
September 16, 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
September 3, 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
Chapter XV, entitled ‘‘Options Pricing,’’
at Section 2, which governs pricing for
NASDAQ members using the NASDAQ
Options Market (‘‘NOM’’), NASDAQ’s
facility for executing and routing
standardized equity and index options,
to remove references to options on the
Nasdaq-100 Index traded under the
symbol NDX (‘‘NDX’’).
While the changes proposed herein
are effective upon filing, the Exchange
has designated the amendments become
operative on October 1, 2015.
Customer
tkelley on DSK3SPTVN1PROD with NOTICES
Non-Penny Pilot Options (including
NDX 1):
Fee for Adding Liquidity ....................
Fee for Removing Liquidity ...............
Rebate to Add Liquidity ....................
N/A
0.85
0.84
Additionally, for transactions in NDX, a
surcharge of $0.15 per contract is added
to the Fee for Adding Liquidity and the
Fee for Removing Liquidity in NonPenny Pilot Options, except for a
Customer who will not be assessed a
surcharge.
7 17
CFR 200.30–3(a)(71)(i).
VerDate Sep<11>2014
17:39 Sep 21, 2015
$0.45
0.94
N/A
Firm
PO 00000
U.S.C. 78s(b)(1).
Frm 00118
Fmt 4703
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 amend
Chapter XV, Section 2, ‘‘NASDAQ
Options Market—Fees and Rebates’’ to
remove references to NDX, as this index
will be delisted on or before September
30, 2015.
Today, the Exchange assesses fees and
pays rebates related to the NASDAQ
OMX PHLX LLC NDX proprietary index
listed on NOM. The Exchange assesses
the following Non-Penny Pilot fees for
NDX:
Non-NOM
market maker
$0.45
0.94
N/A
The Exchange will delist this
proprietary index and will no longer
assess the above-referenced fees or pay
rebates for NDX. The Exchange proposes
to remove references to NDX from the
fee schedule, including current note 1 in
the fee schedule at Chapter XV, Section
2(1), which relates to NDX transactions.
1 15
Jkt 235001
Professional
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.
$0.45
0.94
N/A
Broker-dealer
$0.35
0.94
N/A
$0.45
0.94
The NDX surcharge of $0.15 per
contract would also no longer be
assessed.
2. Statutory Basis
NASDAQ believes that the proposed
rule change is consistent with the
2 17
Sfmt 4703
NOM market
maker
E:\FR\FM\22SEN1.SGM
CFR 240.19b–4.
22SEN1
Federal Register / Vol. 80, No. 183 / Tuesday, September 22, 2015 / Notices
provisions of Section 6 of the Act,3 in
general, and with Section 6(b)(4) and
6(b)(5) of the Act,4 in particular, in that
it provides for the equitable allocation
of reasonable dues, fees and other
charges among members and issuers and
other persons using any facility or
system which NASDAQ operates or
controls, and is not designed to permit
unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange’s proposal to remove
the references to NDX, not assess fees or
surcharges for NDX or pay rebates for
NDX is reasonable because the
Exchange is seeking to delist this index
from NOM on or before September 30,
2015.
The Exchange’s proposal to remove
the references to NDX, not assess fees or
surcharges for NDX or pay rebates for
NDX is equitable and not unfairly
discriminatory because no market
participant will be able to transact
options in NDX as of the delisting.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
NASDAQ does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act. The Exchange will
delist NDX on or before September 30,
2015 and no longer offer market
participants the opportunity to transact
options in that index on NOM. The
removal of references to NDX from the
fee schedule does not impose an undue
burden on competition because NOM
Participants will not be able to transact
options in NDX on NOM as of the
delisting.
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.
tkelley on DSK3SPTVN1PROD with NOTICES
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)(ii) of the Act.5
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
3 15
U.S.C. 78f.
U.S.C. 78f(b)(4) and (5).
5 15 U.S.C. 78s(b)(3)(A)(ii).
4 15
VerDate Sep<11>2014
17:39 Sep 21, 2015
Jkt 235001
57263
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.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Brent J. Fields,
Secretary.
IV. Solicitation of Comments
[FR Doc. 2015–23974 Filed 9–21–15; 8:45 am]
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–
NASDAQ–2015–109 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–NASDAQ–2015–109. 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–
NASDAQ–2015–109 and should be
submitted on or before October 13,
2015.
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75935; File No. PCAOB–
2015–01]
Public Company Accounting Oversight
Board; Order Granting Approval of
Proposed Rules To Implement the
Reorganization of PCAOB Auditing
Standards and Related Changes to
PCAOB Rules and Attestation, Quality
Control, and Ethics and Independence
Standards
September 17, 2015.
I. Introduction
On June 17, 2015, the Public
Company Accounting Oversight Board
(the ‘‘Board’’ or the ‘‘PCAOB’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’),
pursuant to section 107(b) 1 of the
Sarbanes-Oxley Act of 2002 (the
‘‘Sarbanes-Oxley Act’’) and section
19(b) 2 of the Securities Exchange Act of
1934 (the ‘‘Exchange Act’’), proposed
rules to adopt amendments to
implement the reorganization of PCAOB
auditing standards and related changes
to PCAOB rules and attestation, quality
control, and ethics and independence
standards (collectively, the ‘‘Proposed
Rules’’ or ‘‘Proposed Reorganization’’).3
The Proposed Rules were published for
comment in the Federal Register on
June 25, 2015.4 At the time the notice
was issued, the Commission designated
a longer period to act on the Proposed
Rules, until September 23, 2015.5 The
Commission received four comment
letters in response to the notice.6 This
order approves the Proposed Rules.
6 17
CFR 200.30–3(a)(12).
U.S.C. 7217(b).
2 15 U.S.C. 78s(b).
3 The Board originally proposed in March 2013
(‘‘Original Proposal’’) what became the Proposed
Rules. See PCAOB Release No. 2013–002 (March,
26, 2013). The Board also issued a supplemental
request for comment in May 2014 (‘‘Supplemental
Request’’). See PCAOB Release No. 2014–001 (May
7, 2014).
4 See Release No. 34–75251 (June 19, 2015), 80 FR
36602 (June 25, 2015).
5 Ibid.
6 See Comment letters from Suzanne H. Shatto,
June 27, 2015, Deloitte & Touche LLP, July 8, 2015,
Michael McMurtry, July 28, 2015, and Stephen G.
Wills, August 17, 2015, available at https://
1 15
E:\FR\FM\22SEN1.SGM
Continued
22SEN1
]]>Agencies
[Federal Register Volume 80, Number 183 (Tuesday, September 22, 2015)]
[Notices]
[Pages 57262-57263]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-23974]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75931; File No. SR-NASDAQ-2015-109]
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''
September 16, 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 September 3, 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.
---------------------------------------------------------------------------
\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 amend Chapter XV, entitled ``Options
Pricing,'' at Section 2, which governs pricing for NASDAQ members using
the NASDAQ Options Market (``NOM''), NASDAQ's facility for executing
and routing standardized equity and index options, to remove references
to options on the Nasdaq-100 Index traded under the symbol NDX
(``NDX'').
While the changes proposed herein are effective upon filing, the
Exchange has designated the amendments become operative on October 1,
2015.
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 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 amend Chapter XV, Section 2, ``NASDAQ
Options Market--Fees and Rebates'' to remove references to NDX, as this
index will be delisted on or before September 30, 2015.
Today, the Exchange assesses fees and pays rebates related to the
NASDAQ OMX PHLX LLC NDX proprietary index listed on NOM. The Exchange
assesses the following Non-Penny Pilot fees for NDX:
--------------------------------------------------------------------------------------------------------------------------------------------------------
Non-NOM market NOM market
Customer Professional Firm maker maker Broker-dealer
--------------------------------------------------------------------------------------------------------------------------------------------------------
Non-Penny Pilot Options (including NDX \1\):
Fee for Adding Liquidity............................ N/A $0.45 $0.45 $0.45 $0.35 $0.45
Fee for Removing Liquidity.......................... 0.85 0.94 0.94 0.94 0.94 0.94
Rebate to Add Liquidity............................. 0.84 N/A N/A N/A N/A ..............
--------------------------------------------------------------------------------------------------------------------------------------------------------
Additionally, for transactions in NDX, a surcharge of $0.15 per
contract is added to the Fee for Adding Liquidity and the Fee for
Removing Liquidity in Non-Penny Pilot Options, except for a Customer
who will not be assessed a surcharge.
The Exchange will delist this proprietary index and will no longer
assess the above-referenced fees or pay rebates for NDX. The Exchange
proposes to remove references to NDX from the fee schedule, including
current note 1 in the fee schedule at Chapter XV, Section 2(1), which
relates to NDX transactions. The NDX surcharge of $0.15 per contract
would also no longer be assessed.
2. Statutory Basis
NASDAQ believes that the proposed rule change is consistent with
the
[[Page 57263]]
provisions of Section 6 of the Act,\3\ in general, and with Section
6(b)(4) and 6(b)(5) of the Act,\4\ in particular, in that it provides
for the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which NASDAQ operates or controls, and is not designed to permit
unfair discrimination between customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange's proposal to remove the references to NDX, not assess
fees or surcharges for NDX or pay rebates for NDX is reasonable because
the Exchange is seeking to delist this index from NOM on or before
September 30, 2015.
The Exchange's proposal to remove the references to NDX, not assess
fees or surcharges for NDX or pay rebates for NDX is equitable and not
unfairly discriminatory because no market participant will be able to
transact options in NDX as of the delisting.
B. Self-Regulatory Organization's Statement on Burden on Competition
NASDAQ does not believe that the proposed rule change will impose
any burden on competition not necessary or appropriate in furtherance
of the purposes of the Act. The Exchange will delist NDX on or before
September 30, 2015 and no longer offer market participants the
opportunity to transact options in that index on NOM. The removal of
references to NDX from the fee schedule does not impose an undue burden
on competition because NOM Participants will not be able to transact
options in NDX on NOM as of the delisting.
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
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\5\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
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-NASDAQ-2015-109 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-NASDAQ-2015-109. 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-NASDAQ-2015-109 and should
be submitted on or before October 13, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Brent J. Fields,
Secretary.
[FR Doc. 2015-23974 Filed 9-21-15; 8:45 am]
BILLING CODE 8011-01-P
