Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE MKT Rule 19-Equities To Specify in Exchange Rules the Exchange's Use of Data Feeds From National Stock Exchange, Inc. for Order Handling and Execution, Order Routing, and Regulatory Compliance, 69749-69751 [2015-28509]
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Federal Register / Vol. 80, No. 217 / Tuesday, November 10, 2015 / Notices
of an exchange’s execution and routing
services.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed change is not designed to
address any competitive issue but rather
would provide the public and investors
with information about which data
feeds the Exchange uses for execution
and routing decisions.
C. Self-Regulatory Organization's
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and Rule
19b–4(f)(6) thereunder.9 Because the
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
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange has stated that it is
requesting this waiver because NSX
intends to reactivate its status as an
operating Participant of the SIPs, subject
to regulatory approval, and that the
proposed rule change would permit the
Exchange to immediately provide the
enhanced transparency in Exchange
rules regarding which data feeds the
Exchange would use for NSX. The
8 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
9 17
VerDate Sep<11>2014
19:41 Nov 09, 2015
Jkt 238001
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest because this waiver will
enable the Exchange to disclose in a
timely manner that it will be using NSX
SIP data for purpose of fulfilling its
order handling and execution, order
routing, and regulatory compliance
obligations, if and when NSX receives
the necessary regulatory approval to
recommence trading.10 For this reason,
the Commission hereby waives the 30day operative delay requirement and
designates the proposed rule change as
operative upon filing.11
At any time within 60 days of the
filing of such 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. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 12 of the Act to
determine whether the proposed rule
change 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–
NYSEARCA–2015–98 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–NYSEARCA–2015–98. 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
10 In granting this waiver, the Commission does
not express an opinion on whether or not NSX will
receive regulatory approval to recommence trading.
11 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
12 15 U.S.C. 78s(b)(2)(B).
PO 00000
Frm 00118
Fmt 4703
Sfmt 4703
69749
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 such
filing also will be available for
inspection and copying at the principal
offices 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–
NYSEARCA–2015–98, and should be
submitted on or before December 1,
2015.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Brent J. Fields,
Secretary.
[FR Doc. 2015–28511 Filed 11–9–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76345; File No. SR–
NYSEMKT–2015–84]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending NYSE MKT
Rule 19—Equities To Specify in
Exchange Rules the Exchange’s Use of
Data Feeds From National Stock
Exchange, Inc. for Order Handling and
Execution, Order Routing, and
Regulatory Compliance
November 4, 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 October
20, 2015, NYSE MKT LLC (the
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\10NON1.SGM
10NON1
69750
Federal Register / Vol. 80, No. 217 / Tuesday, November 10, 2015 / Notices
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I and II 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
NYSE MKT Rule 19—Equities to specify
in Exchange rules the Exchange’s use of
data feeds from National Stock
Exchange, Inc. for order handling and
execution, order routing, and regulatory
compliance. The text of the proposed
rule change is available on the
Exchange’s Web site at www.nyse.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
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 those 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.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
A. Self-Regulatory Organization's
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
NYSE MKT Rule 19—Equities (‘‘Rule
19’’) to specify in Exchange rules which
data feeds from National Stock
Exchange, Inc. (‘‘NSX’’) that the
Exchange would use for order handling
and execution, order routing, and
regulatory compliance.
On July 18, 2014, the Exchange filed
a proposed rule change that clarified the
Exchange’s use of certain data feeds for
order handling and execution, order
routing, and regulatory compliance.3 As
noted in that filing, the data feeds
available for the purposes of order
3 See Securities Exchange Act Release No. 72709
(July 29, 2014), 79 FR 45513 (Aug. 5, 2014) (SR–
NYSEMKT–2014–62) (‘‘July 2014 Data Feed
Filing’’).
VerDate Sep<11>2014
19:41 Nov 09, 2015
Jkt 238001
handling and execution, order routing,
and regulatory compliance at the
Exchange include the exclusive
securities information processor (‘‘SIP’’)
data feeds.4 On February 24, 2015, the
Exchange adopted Supplementary
Material .01 to Rule 19 to specify which
data feeds that the Exchange uses for the
handling, execution, and routing of
orders, as well as for regulatory
compliance.5
To reflect that, subject to regulatory
approval, NSX intends to reopen trading
and has reactivated its connections to
the SIPs, the Exchange proposes to
amend Supplementary Material .01 to
Rule 19, to specify which data feeds the
Exchange would use for NSX. As
proposed, the Exchange would use the
SIP Data Feed for NSX and would not
have a secondary source.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),6 in general, and furthers the
objectives of Section 6(b)(5),7 in
particular, because 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 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 the proposed rule change removes
impediments to and perfects the
mechanism of a free and open market
because it provides enhanced
transparency to better assess the quality
of an exchange’s execution and routing
services.
B. Self-Regulatory Organization's
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
4 The SIP feeds are disseminated pursuant to
effective joint-industry plans as required by Rule
603(b) of Regulation NMS. 17 CFR 242.603(b). The
three joint-industry plans are: (1) The CTA Plan,
which is operated by the Consolidated Tape
Association and disseminates transaction
information for securities with the primary listing
market on exchanges other than NASDAQ Stock
Market LLC (‘‘Nasdaq’’): (2) The CQ Plan, which
disseminates consolidated quotation information
for securities with their primary listing on
exchanges other than Nasdaq; and (3) the Nasdaq
UTP Plan, which disseminates consolidated
transaction and quotation information for securities
with their primary listing on Nasdaq.
5 See Securities Exchange Act Release No. 74408
(March 2, 2015), 80 FR (March 6, 2015) (SR–
NYSEMKT–2015–11).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00119
Fmt 4703
Sfmt 4703
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed change is not designed to
address any competitive issue but rather
would provide the public and investors
with information about which data
feeds the Exchange uses for execution
and routing decisions.
C. Self-Regulatory Organization's
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and Rule
19b–4(f)(6) thereunder.9 Because the
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
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange has stated that it is
requesting this waiver because NSX
intends to reactivate its status as an
operating Participant of the SIPs, subject
to regulatory approval, and that the
proposed rule change would permit the
Exchange to immediately provide the
enhanced transparency in Exchange
rules regarding which data feeds the
Exchange would use for NSX. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest because this waiver will
enable the Exchange to disclose in a
timely manner that it will be using NSX
SIP data for purpose of fulfilling its
8 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
9 17
E:\FR\FM\10NON1.SGM
10NON1
Federal Register / Vol. 80, No. 217 / Tuesday, November 10, 2015 / Notices
order handling and execution, order
routing, and regulatory compliance
obligations, if and when NSX receives
the necessary regulatory approval to
recommence trading.10 For this reason,
the Commission hereby waives the 30day operative delay requirement and
designates the proposed rule change as
operative upon filing.11
At any time within 60 days of the
filing of such 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. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 12 of the Act to
determine whether the proposed rule
change 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:
asabaliauskas on DSK5VPTVN1PROD with NOTICES
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–
NYSEMKT–2015–84 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–NYSEMKT–2015–84. 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
10 In granting this waiver, the Commission does
not express an opinion on whether or not NSX will
receive regulatory approval to recommence trading.
11 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
12 15 U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
19:41 Nov 09, 2015
Jkt 238001
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 such
filing also will be available for
inspection and copying at the principal
offices 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–
NYSEMKT–2015–84, and should be
submitted on or before December 1,
2015.13
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.
Brent J. Fields,
Secretary.
[FR Doc. 2015–28509 Filed 11–9–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76353; File No. SR–CBOE–
2015–100]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of a
Proposed Rule Change To List and
Trade Options That Overlie a Reduced
Value of the FTSE 100 Index
November 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 October
30, 2015, Chicago Board Options
Exchange, Incorporated (the ‘‘Exchange’’
or ‘‘CBOE’’) filed with the Securities
and Exchange Commission (the
‘‘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.
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
69751
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is proposing to amend
its rules to list and trade options that
overlie a reduced value of the FTSE 100
Index.
The text of the proposed rule change
is available on the Exchange’s Web site
(https://www.cboe.com/AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
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 purpose of this proposed rule
change is to permit the Exchange to list
and trade options that overlie the FTSE
100 Index (‘‘FTSE 100 options’’). FTSE
100 options would be A.M., cash-settled
contracts with European-style exercise.
FTSE 100 Index Design, Methodology
and Dissemination
The FTSE 100 Index is a free floatadjusted market capitalization index
that is designed to measure the
performance of the 100 largest
companies traded on the London Stock
Exchange and valued in the British
pound (‘‘GBP’’).3 The Exchange notes
that the Commission previously
approved for the Exchange,
International Securities Exchange
(‘‘ISE’’), and NYSE Arca, Inc. (‘‘NYSE
3 The FTSE 100 Index is a market-capitalization
weighted index of UK-listed blue chip companies
which is valued on the British pound. The index
is part of the FTSE UK Series and is designed to
measure the performance of the 100 largest
companies traded on the London Stock Exchange
that pass screening for size and liquidity. FTSE 100
constituents are all traded on the London Stock
Exchange’s SETS trading system. See FTSE 100
Index fact sheet (dated August 31, 2015) located at:
https://www.ftse.com/Analytics/FactSheets/Home/
DownloadSingleIssue?issueName=UKX.
E:\FR\FM\10NON1.SGM
10NON1
]]>Agencies
[Federal Register Volume 80, Number 217 (Tuesday, November 10, 2015)]
[Notices]
[Pages 69749-69751]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28509]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-76345; File No. SR-NYSEMKT-2015-84]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change Amending NYSE MKT Rule
19--Equities To Specify in Exchange Rules the Exchange's Use of Data
Feeds From National Stock Exchange, Inc. for Order Handling and
Execution, Order Routing, and Regulatory Compliance
November 4, 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 October 20, 2015, NYSE MKT LLC (the
[[Page 69750]]
``Exchange'' or ``NYSE MKT'') filed with the Securities and Exchange
Commission (``SEC'' or ``Commission'') the proposed rule change as
described in Items I and II 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 NYSE MKT Rule 19--Equities to
specify in Exchange rules the Exchange's use of data feeds from
National Stock Exchange, Inc. for order handling and execution, order
routing, and regulatory compliance. The text of the proposed rule
change is available on the Exchange's Web site at www.nyse.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 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 those 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend NYSE MKT Rule 19--Equities (``Rule
19'') to specify in Exchange rules which data feeds from National Stock
Exchange, Inc. (``NSX'') that the Exchange would use for order handling
and execution, order routing, and regulatory compliance.
On July 18, 2014, the Exchange filed a proposed rule change that
clarified the Exchange's use of certain data feeds for order handling
and execution, order routing, and regulatory compliance.\3\ As noted in
that filing, the data feeds available for the purposes of order
handling and execution, order routing, and regulatory compliance at the
Exchange include the exclusive securities information processor
(``SIP'') data feeds.\4\ On February 24, 2015, the Exchange adopted
Supplementary Material .01 to Rule 19 to specify which data feeds that
the Exchange uses for the handling, execution, and routing of orders,
as well as for regulatory compliance.\5\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 72709 (July 29,
2014), 79 FR 45513 (Aug. 5, 2014) (SR-NYSEMKT-2014-62) (``July 2014
Data Feed Filing'').
\4\ The SIP feeds are disseminated pursuant to effective joint-
industry plans as required by Rule 603(b) of Regulation NMS. 17 CFR
242.603(b). The three joint-industry plans are: (1) The CTA Plan,
which is operated by the Consolidated Tape Association and
disseminates transaction information for securities with the primary
listing market on exchanges other than NASDAQ Stock Market LLC
(``Nasdaq''): (2) The CQ Plan, which disseminates consolidated
quotation information for securities with their primary listing on
exchanges other than Nasdaq; and (3) the Nasdaq UTP Plan, which
disseminates consolidated transaction and quotation information for
securities with their primary listing on Nasdaq.
\5\ See Securities Exchange Act Release No. 74408 (March 2,
2015), 80 FR (March 6, 2015) (SR-NYSEMKT-2015-11).
---------------------------------------------------------------------------
To reflect that, subject to regulatory approval, NSX intends to
reopen trading and has reactivated its connections to the SIPs, the
Exchange proposes to amend Supplementary Material .01 to Rule 19, to
specify which data feeds the Exchange would use for NSX. As proposed,
the Exchange would use the SIP Data Feed for NSX and would not have a
secondary source.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (the ``Act''),\6\ in general, and
furthers the objectives of Section 6(b)(5),\7\ in particular, because
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 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 the proposed rule change removes impediments to and
perfects the mechanism of a free and open market because it provides
enhanced transparency to better assess the quality of an exchange's
execution and routing services.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed change is not
designed to address any competitive issue but rather would provide the
public and investors with information about which data feeds the
Exchange uses for execution and routing decisions.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
Because the 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 prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if consistent with the protection of
investors and the public interest, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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\8\ 15 U.S.C. 78s(b)(3)(A)(iii).
\9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Exchange has stated that it is requesting this waiver
because NSX intends to reactivate its status as an operating
Participant of the SIPs, subject to regulatory approval, and that the
proposed rule change would permit the Exchange to immediately provide
the enhanced transparency in Exchange rules regarding which data feeds
the Exchange would use for NSX. The Commission believes that waiving
the 30-day operative delay is consistent with the protection of
investors and the public interest because this waiver will enable the
Exchange to disclose in a timely manner that it will be using NSX SIP
data for purpose of fulfilling its
[[Page 69751]]
order handling and execution, order routing, and regulatory compliance
obligations, if and when NSX receives the necessary regulatory approval
to recommence trading.\10\ For this reason, the Commission hereby
waives the 30-day operative delay requirement and designates the
proposed rule change as operative upon filing.\11\
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\10\ In granting this waiver, the Commission does not express an
opinion on whether or not NSX will receive regulatory approval to
recommence trading.
\11\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of such 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. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \12\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\12\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSEMKT-2015-84 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-NYSEMKT-2015-84. 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 such filing also will be available
for inspection and copying at the principal offices 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-NYSEMKT-2015-
84, and should be submitted on or before December 1, 2015.\13\
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\13\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.
Brent J. Fields,
Secretary.
[FR Doc. 2015-28509 Filed 11-9-15; 8:45 am]
BILLING CODE 8011-01-P
