Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule Effective December 1, 2015, 72457-72458 [2015-29491]

Download as PDF Federal Register / Vol. 80, No. 223 / Thursday, November 19, 2015 / Notices written authorization from that individual for the representative to act on their behalf. The written authorization must also include an original notarized statement or an unsworn declaration, as described above. mstockstill on DSK4VPTVN1PROD with NOTICES AMENDMENT PROCEDURES: Individuals wishing to amend information maintained in the system should direct their requests to the FOIA/ PA Requester Service Center, U.S. Office of Personnel Management, 1900 E Street NW., Room 5415, Washington, DC 20415, or by emailing foia@opm.gov, stating clearly and concisely what information the individuals seek to amend, the reasons for seeking amendment, and the proposed amendments. Some information is not subject to amendment. A determination whether a record may be amended will be made at the time a request is received. Individuals must furnish the following information in writing for their records to be located: 1. Full name, former name, and any other names used. 2. Date and place of birth. 3. Social Security Number. 4. Signature. 5. Information the individual seeks to amend, the reasons for seeking amendment, and the proposed amendments. Individuals requesting access must also comply with OPM’s Privacy Act regulations regarding verification of identity and access to records (5 CFR part 297). In addition, requestors must provide a notarized statement or an unsworn declaration made in accordance with 28 U.S.C. 1746, in the following format: • If executed outside the United States: ‘‘I declare (or certify, verify, or state) under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed on [date]. [signature].’’ • If executed within the United States, its territories, possessions, or commonwealths: ‘‘I declare (or certify, verify, or state) under penalty of perjury that the foregoing is true and correct. Executed on [date]. [signature].’’ Attorneys or other persons acting on behalf of an individual must provide written authorization from that individual for the representative to act on their behalf. The written authorization must also include an original notarized statement or an unsworn declaration, as described above. RECORD SOURCE CATEGORIES: The information contained in this system is derived from incoming and VerDate Sep<11>2014 16:00 Nov 18, 2015 Jkt 238001 outgoing correspondence and internal memoranda. Sources include individuals; state, local, tribal, and foreign government agencies as appropriate; the executive and legislative branches of the Federal Government; the Judiciary; and interested third parties. SYSTEMS EXEMPT FROM CERTAIN PROVISIONS OF THE ACT: A determination as to exemption shall be made at the time a request for access or amendment is received. OPM has promulgated rules in 5 CFR 297.501(c) reserving the right to assert exemptions for these records when received from another agency that could properly claim such exemptions in responding to a request, and reserving the right to refuse access to information compiled in reasonable anticipation of a civil action or litigation. [FR Doc. 2015–29583 Filed 11–18–15; 8:45 am] BILLING CODE 6325–47–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76439; File No. SR– NYSEARCA–2015–112] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule Effective December 1, 2015 November 13, 2015. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on November 9, 2015, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 selfregulatory 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 The Exchange proposes to amend the NYSE Arca Options Fee Schedule (‘‘Fee Schedule’’). The Exchange proposes to implement the fee changes effective December 1, 2015. The text of the proposed rule change is available on the 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00048 Fmt 4703 Sfmt 4703 72457 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 purpose of this filing is to amend the Fee Schedule, effective December 1, 2015. Specifically, the Exchange proposes to decrease certain fees charged to Market Makers, Lead Market Makers, Firms and Broker Dealers, and Professional Customers (collectively, ‘‘Non-Customers’’) for Taking Liquidity in Penny Pilot Issues (‘‘Take Fees’’). Last month the Exchange increased the Take Fees charged to Non-Customers from $0.50 to $0.52 per contract for electronic executions.4 The Exchange now proposes to reduce the Take Fees charged to Non-Customers back to $0.50 per contract after having considered the competitive landscape.5 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,6 in general, and furthers the objectives of Sections 6(b)(4) and (5) of the Act,7 in particular, because it provides for the equitable allocation of reasonable dues, fees, and 4 See File No. SR–NYSEArca–2015–108 (November 2, 2015). 5 See e.g., NASDAQ Options Market—Fees and Rebates, available at: https://www.nasdaqtrader. com/Micro.aspx?id=optionsPricing (charging noncustomers take fees of $0.50 per contract in penny pilot issues other than in certain select symbols, for which the take fee is $0.55). See also MIAX fee schedule, available here: https://www.miaxoptions. com/sites/default/files/MIAX_Options_Fee_ Schedule_10012015C.pdf (charging non-customers take fees of $0.47 per contract in penny pilot issues other than in certain select symbols, for which the take fee is $0.55). The Commission notes that the $0.55 take fee applies only to certain categories of non-customers (i.e. away market makers). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(4) and (5). E:\FR\FM\19NON1.SGM 19NON1 72458 Federal Register / Vol. 80, No. 223 / Thursday, November 19, 2015 / Notices other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. The Exchange believes that the proposed Take Fees for Non-Customers reasonable, equitable and not unfairly discriminatory because they are competitive with fees charged by other exchanges and are designed to attract (and compete for) order flow to the Exchange, which provides a greater opportunity for trading by all market participants.8 Moreover, the Exchange believes the proposed change does not unfairly discriminate because it applies equally to all Non-Customers who are removing liquidity. For these reasons, the Exchange believes that the proposal is consistent with the Act. mstockstill on DSK4VPTVN1PROD with NOTICES B. Self-Regulatory Organization’s Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,9 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. Instead, the Exchange believes that the proposed change would continue to encourage competition and make the Exchange a more competitive venue for, among other things, order execution and price discovery. In addition, the proposed change would impact all affected order types (i.e., Professional Customers, Firm, Broker Dealers) in issues at the same rate. The Exchange does not believe that the proposed change will impair the ability of any market participants or competing order execution venues to maintain their competitive standing in the financial markets. The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues. In such an environment, the Exchange must continually review, and consider adjusting, its fees and credits to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. 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 foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 10 of the Act and subparagraph (f)(2) of Rule 19b–4 11 thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. 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–2015–112 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–2015–112. 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 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 12 15 U.S.C. 78s(b)(2)(B). 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 Section, 100 F Street NE., Washington, DC 20549–1090. Copies of the filing will also be available for inspection and copying at the NYSE’s principal office and on its Internet Web site at www.nyse.com. 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–2015–112 and should be submitted on or before December 10, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Brent J. Fields, Secretary. [FR Doc. 2015–29491 Filed 11–18–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76437; File No. SR–ICC– 2015–018] Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Revise ICC End-ofDay Price Discovery Policies and Procedures November 13, 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 November 5, 2015, ICE Clear Credit LLC (‘‘ICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared primarily by ICC. ICC filed the proposed rule change pursuant to Section 19(b)(3)(A) of the 10 15 supra n. 5. 9 15 U.S.C. 78f(b)(8). VerDate Sep<11>2014 16:00 Nov 18, 2015 Jkt 238001 13 17 11 17 8 See 1 15 PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. E:\FR\FM\19NON1.SGM 19NON1

Agencies

[Federal Register Volume 80, Number 223 (Thursday, November 19, 2015)]
[Notices]
[Pages 72457-72458]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-29491]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76439; File No. SR-NYSEARCA-2015-112]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE 
Arca Options Fee Schedule Effective December 1, 2015

November 13, 2015.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on November 9, 2015, NYSE Arca, Inc. (the ``Exchange'' or 
``NYSE Arca'') 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 self-regulatory 
organization. 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\ 15 U.S.C. 78a.
    \3\ 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 the NYSE Arca Options Fee Schedule 
(``Fee Schedule''). The Exchange proposes to implement the fee changes 
effective December 1, 2015. 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 purpose of this filing is to amend the Fee Schedule, effective 
December 1, 2015. Specifically, the Exchange proposes to decrease 
certain fees charged to Market Makers, Lead Market Makers, Firms and 
Broker Dealers, and Professional Customers (collectively, ``Non-
Customers'') for Taking Liquidity in Penny Pilot Issues (``Take 
Fees''). Last month the Exchange increased the Take Fees charged to 
Non-Customers from $0.50 to $0.52 per contract for electronic 
executions.\4\ The Exchange now proposes to reduce the Take Fees 
charged to Non-Customers back to $0.50 per contract after having 
considered the competitive landscape.\5\
---------------------------------------------------------------------------

    \4\ See File No. SR-NYSEArca-2015-108 (November 2, 2015).
    \5\ See e.g., NASDAQ Options Market--Fees and Rebates, available 
at: https://www.nasdaqtrader.com/Micro.aspx?id=optionsPricing 
(charging non-customers take fees of $0.50 per contract in penny 
pilot issues other than in certain select symbols, for which the 
take fee is $0.55). See also MIAX fee schedule, available here: 
https://www.miaxoptions.com/sites/default/files/MIAX_Options_Fee_Schedule_10012015C.pdf (charging non-customers take 
fees of $0.47 per contract in penny pilot issues other than in 
certain select symbols, for which the take fee is $0.55). The 
Commission notes that the $0.55 take fee applies only to certain 
categories of non-customers (i.e. away market makers).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\6\ in general, and furthers the 
objectives of Sections 6(b)(4) and (5) of the Act,\7\ in particular, 
because it provides for the equitable allocation of reasonable dues, 
fees, and

[[Page 72458]]

other charges among its members, issuers and other persons using its 
facilities and does not unfairly discriminate between customers, 
issuers, brokers or dealers.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed Take Fees for Non-Customers 
reasonable, equitable and not unfairly discriminatory because they are 
competitive with fees charged by other exchanges and are designed to 
attract (and compete for) order flow to the Exchange, which provides a 
greater opportunity for trading by all market participants.\8\ 
Moreover, the Exchange believes the proposed change does not unfairly 
discriminate because it applies equally to all Non-Customers who are 
removing liquidity.
---------------------------------------------------------------------------

    \8\ See supra n. 5.
---------------------------------------------------------------------------

    For these reasons, the Exchange believes that the proposal is 
consistent with the Act.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\9\ 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.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    Instead, the Exchange believes that the proposed change would 
continue to encourage competition and make the Exchange a more 
competitive venue for, among other things, order execution and price 
discovery. In addition, the proposed change would impact all affected 
order types (i.e., Professional Customers, Firm, Broker Dealers) in 
issues at the same rate. The Exchange does not believe that the 
proposed change will impair the ability of any market participants or 
competing order execution venues to maintain their competitive standing 
in the financial markets.
    The Exchange notes that it operates in a highly competitive market 
in which market participants can readily favor competing venues. In 
such an environment, the Exchange must continually review, and consider 
adjusting, its fees and credits to remain competitive with other 
exchanges. For the reasons described above, the Exchange believes that 
the proposed rule change reflects this competitive environment.

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 foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \10\ of the Act and subparagraph (f)(2) of Rule 
19b-4 \11\ thereunder, because it establishes a due, fee, or other 
charge imposed by the Exchange.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

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-2015-112 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-2015-112. 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 Section, 100 F Street 
NE., Washington, DC 20549-1090. Copies of the filing will also be 
available for inspection and copying at the NYSE's principal office and 
on its Internet Web site at www.nyse.com. 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-2015-112 and should be 
submitted on or before December 10, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\13\
Brent J. Fields,
Secretary.
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2015-29491 Filed 11-18-15; 8:45 am]
BILLING CODE 8011-01-P
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