Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Designation of a Longer Period for Commission Action on Proposed Rule Change To Establish a Retail Order Process Known as “RTFY”, 69256 [2015-28405]
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69256
Federal Register / Vol. 80, No. 216 / Monday, November 9, 2015 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76335; File No. SR–
NASDAQ–2015–112]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Designation of a Longer Period for
Commission Action on Proposed Rule
Change To Establish a Retail Order
Process Known as ‘‘RTFY’’
On September 21, 2015 The NASDAQ
Stock Market LLC (‘‘NASDAQ’’) 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 adopt a new routing option,
the Retail Order Process (‘‘RTFY’’). The
proposed rule change was published for
comment in the Federal Register on
October 1, 2015.3 The Commission
received two comment letters on the
proposed rule change.4 NASDAQ
submitted a response to these
comments.5
Section 19(b)(2) of the Act 6 provides
that, within 45 days of the publication
of notice of the filing of a proposed rule
change, or within such longer period up
to 90 days as the Commission may
designate if it finds such longer period
to be appropriate and publishes its
reasons for so finding or as to which the
self-regulatory organization consents,
the Commission shall either approve the
proposed rule change, disapprove the
proposed rule change, or institute
proceedings to determine whether the
proposed rule change should be
disapproved. The 45th day for this filing
is November 15, 2015. The Commission
finds that it is appropriate to designate
a longer period within which to take
action on the proposed rule change so
that it has sufficient time to consider the
proposed rule change, the comments
received, and the Nasdaq Response.
Therefore, the Commission is extending
this 45-day time period.
Accordingly, the Commission,
pursuant to section 19(b)(2) of the Act,7
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 75987
(September 25, 2015), 80 FR 59210 (‘‘Notice’’).
4 See letter from Joseph Saluzzi, Themis Trading
LLC, to the Commission, dated September 29, 2015
(‘‘Themis Letter’’); letter from Suzanne Shatto to the
Commission, dated October 6, 2015 (‘‘Shatto
Letter’’).
5 See letter from Jonathan F. Cayne, Senior
Associate General Counsel, NASDAQ, to Brent J.
Fields, Secretary, Commission, dated October 22,
2015 (‘‘NASDAQ Response’’).
6 15 U.S.C. 78s(b)(2).
7 15 U.S.C. 78s(b)(2).
srobinson on DSK5SPTVN1PROD with NOTICES
2 17
19:52 Nov 06, 2015
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Brent J. Fields,
Secretary.
[FR Doc. 2015–28405 Filed 11–6–15; 8:45 am]
November 3, 2015.
VerDate Sep<11>2014
designates December 30, 2015, as the
date by which the Commission should
either approve or disapprove or institute
proceedings to determine whether to
disapprove the proposed rule change
(File No. SR–NASDAQ–2015–112).
Jkt 238001
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76334; File No. SR–ISE–
2015–35]
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
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of 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.
Self-Regulatory Organizations;
International Securities Exchange;
Notice of Filing of Proposed Rule
Change To Comply With the
Requirements of Rule 1004 of
Regulation SCI
A. Self-Regulatory Organization's
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
November 3, 2015.
Rule 1004 requires the establishment
of standards for the designation of those
members the Exchange reasonably
determines are, taken as a whole, the
minimum necessary for the
maintenance of a fair and orderly
market should the Exchange’s business
continuity and disaster recovery plans
be activated. Rule 1004 also requires the
Exchange to designate members
pursuant to those standards and require
participation by such members in
scheduled functional and performance
testing of the operation of such plans, in
the manner and frequency specified by
the Exchange, provided that such
frequency shall not be less than once
every 12 months. Therefore, in
accordance with Rule 1004, the
Exchange proposes to designate all
PMMs 3 and Linkage Handlers,4 as the
minimum necessary for the
maintenance of a fair and orderly
market should the Exchange’s DR Plans
be activated. This proposed rule also
mandates participation by designated
members in scheduled functional and
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 October
23, 2015, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange Commission the proposed
rule change as described in Items I, II,
and III below, which Items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
ISE proposes to designate all members
that function as Primary Market Makers
(‘‘PMMs’’) and Linkage Handlers
(collectively ‘‘designated members’’) as
necessary for the maintenance of a fair
and orderly market should business
continuity and disaster recovery plans
(collectively ‘‘DR Plans’’) be activated,
and proposes to require designated
members to participate in scheduled
functional and performance testing of
the operation of such DR Plans by
amending amend Rules 803, Obligations
of Market Makers, and 1903, Order
Routing to Other Exchanges. The text of
the proposed rule change is available on
the Exchange’s Web site at
www.ise.com, at the principal office of
8 17
CFR 200.30–3(a)(31).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00069
Fmt 4703
Sfmt 4703
1. Purpose
3 A PMM posts two-sided continuous quotations
in all of the options classes to which it is appointed
and undertakes special responsibilities for
maintaining fair and orderly markets. PMM
memberships are represented by PMM Trading
Rights. The options classes trading on the ISE are
divided into groups or ‘‘bins’’, each with one PMM.
One PMM member may, however, represent more
than one bin.
4 A Linkage Handler is a broker that is unaffiliated
with the Exchange with which the Exchange has
contracted with to provide routing services, by
routing certain orders, to other exchanges as agent
in connection with the Options Order Protection
and Locked/Crossed Market Plan. See .03 to
Supplementary Material to Rule 1901.
E:\FR\FM\09NON1.SGM
09NON1
]]>Agencies
[Federal Register Volume 80, Number 216 (Monday, November 9, 2015)]
[Notices]
[Page 69256]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28405]
[[Page 69256]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-76335; File No. SR-NASDAQ-2015-112]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Designation of a Longer Period for Commission Action on
Proposed Rule Change To Establish a Retail Order Process Known as
``RTFY''
November 3, 2015.
On September 21, 2015 The NASDAQ Stock Market LLC (``NASDAQ'')
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
adopt a new routing option, the Retail Order Process (``RTFY''). The
proposed rule change was published for comment in the Federal Register
on October 1, 2015.\3\ The Commission received two comment letters on
the proposed rule change.\4\ NASDAQ submitted a response to these
comments.\5\
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 75987 (September 25,
2015), 80 FR 59210 (``Notice'').
\4\ See letter from Joseph Saluzzi, Themis Trading LLC, to the
Commission, dated September 29, 2015 (``Themis Letter''); letter
from Suzanne Shatto to the Commission, dated October 6, 2015
(``Shatto Letter'').
\5\ See letter from Jonathan F. Cayne, Senior Associate General
Counsel, NASDAQ, to Brent J. Fields, Secretary, Commission, dated
October 22, 2015 (``NASDAQ Response'').
---------------------------------------------------------------------------
Section 19(b)(2) of the Act \6\ provides that, within 45 days of
the publication of notice of the filing of a proposed rule change, or
within such longer period up to 90 days as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or as to which the self-regulatory organization
consents, the Commission shall either approve the proposed rule change,
disapprove the proposed rule change, or institute proceedings to
determine whether the proposed rule change should be disapproved. The
45th day for this filing is November 15, 2015. The Commission finds
that it is appropriate to designate a longer period within which to
take action on the proposed rule change so that it has sufficient time
to consider the proposed rule change, the comments received, and the
Nasdaq Response. Therefore, the Commission is extending this 45-day
time period.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------
Accordingly, the Commission, pursuant to section 19(b)(2) of the
Act,\7\ designates December 30, 2015, as the date by which the
Commission should either approve or disapprove or institute proceedings
to determine whether to disapprove the proposed rule change (File No.
SR-NASDAQ-2015-112).
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------
Brent J. Fields,
Secretary.
[FR Doc. 2015-28405 Filed 11-6-15; 8:45 am]
BILLING CODE 8011-01-P
