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
<![CDATA[
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]
=======================================================================
-----------------------------------------------------------------------
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).
---------------------------------------------------------------------------
[FR Doc. 2015-29491 Filed 11-18-15; 8:45 am]
BILLING CODE 8011-01-P
