Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule, 79126-79127 [2015-31786]

Download as PDF 79126 Federal Register / Vol. 80, No. 243 / Friday, December 18, 2015 / Notices A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76636; File No. SR– NYSEArca–2015–119] 1. Purpose Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE Arca Options Fee Schedule December 14, 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 December 1, 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 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. mstockstill on DSK4VPTVN1PROD with NOTICES 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. 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 VerDate Sep<11>2014 19:20 Dec 17, 2015 Jkt 238001 The Exchange proposes to amend the Fee Schedule, effective December 1, 2015, to eliminate the Floor Broker Order Capture Device Log-In Fee (‘‘LogIn Fee’’). Currently, the Exchange charges a monthly Log-In Fee of $150 per assigned log-in ID per month to access the Exchange-sponsored Floor Broker Order Capture System by means of a Floor Broker Order Capture Device (‘‘FBOCD’’).4 The log-in permits OTP Holder access to the System from any FBOCD, whether located in a Floor Broker’s booth or a general access device located on the Trading Floor. Floor Brokers are required to use the FBOCDs to electronically record the receipt of an order and any events in the life of the order, including execution or cancellation. The Log-In Fee was instituted to cover the cost per log-in charged by data vendors for access to each FBOCD.5 The Exchange is in the process of establishing alternative vendors for FBOCD use, which may impact costs to the Exchange. As a result, the Exchange proposes to eliminate the Log-In Fee at this time. Elimination of this fee would not result in any changes to how the FBOCD functions. 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 other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. The Log-In Fee was designed to recover costs being charged to the Exchange for use of FBOCD. The 4 The Exchange notes that it is not proposing any changes to the monthly charge of $175 for each FBOCD, which is capped at $4,200 in total per device. The FBOCD is used by Floor Brokerage operations to comply with the requirements of Rule 6.67, Order Format and System Entry Requirements, namely, the systemization of order details and electronic tracking of all events in the life of an order, up to and including cancellation or execution. 5 See Securities Exchange Act Release No. 63643 (January 5, 2011) 76 FR 2163 (January 12, 2011) (NYSEArca–2010–123). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(4) and (5). PO 00000 Frm 00099 Fmt 4703 Sfmt 4703 Exchange therefore believes it is reasonable, equitable and not unfairly discriminatory to eliminate the Log-In Fee charged to OTP Holders as the Exchange re-evaluates and potentially restructures the cost of FBOCD use to the Exchange. The Exchange believes the elimination of the Log-In Fee would result in the fair and reasonable use of resources by OTP Holders, particularly Floor Brokers. 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,8 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. Because the proposed change would result in the fair and reasonable use of resources by OTP Holders, particularly Floor Brokers, the Exchange believes the elimination of the Log-In Fee is procompetitive. 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) 9 of the Act and subparagraph (f)(2) of Rule 19b–4 10 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 8 15 U.S.C. 78f(b)(8). U.S.C. 78s(b)(3)(A). 10 17 CFR 240.19b–4(f)(2). 9 15 E:\FR\FM\18DEN1.SGM 18DEN1 Federal Register / Vol. 80, No. 243 / Friday, December 18, 2015 / Notices 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) 11 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: mstockstill on DSK4VPTVN1PROD 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– NYSEArca–2015–119 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. All submissions should refer to File Number SR–NYSEArca–2015–119. 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 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from 11 15 U.S.C. 78s(b)(2)(B). VerDate Sep<11>2014 19:20 Dec 17, 2015 submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR– NYSEArca-2015–119 and should be submitted on or before January 8, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–31786 Filed 12–17–15; 8:45 am] BILLING CODE 8011–01–P will help the Agency to improve where necessary, the delivery of critical financial assistance to disaster victims. Title: Disaster Assistance Customer Satisfaction Survey. Description of Respondents: Disaster Customers satisfaction with service received. Form Number: SBA Form 2313FOC, 2313CSC. Estimated Annual Responses: 2,400. Estimated Annual Hour Burden: 199. Curtis B. Rich, Management Analyst. [FR Doc. 2015–31838 Filed 12–17–15; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Reporting and Recordkeeping Requirements Under OMB Review Small Business Administration. ACTION: 30-Day notice. AGENCY: The Small Business Administration (SBA) is publishing this notice to comply with requirements of the Paperwork Reduction Act (PRA) (44 U.S.C. Chapter 35), which requires agencies to submit proposed reporting and recordkeeping requirements to OMB for review and approval, and to publish a notice in the Federal Register notifying the public that the agency has made such a submission. This notice also allows an additional 30 days for public comments. DATES: Submit comments on or before January 19, 2016. ADDRESSES: Comments should refer to the information collection by name and/ or OMB Control Number and should be sent to: Agency Clearance Officer, Curtis Rich, Small Business Administration, 409 3rd Street SW., 5th Floor, Washington, DC 20416; and SBA Desk Officer, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. FOR FURTHER INFORMATION CONTACT: Curtis Rich, Agency Clearance Officer, (202) 205–7030 curtis.rich@sba.gov. Copies: A copy of the Form OMB 83– 1, supporting statement, and other documents submitted to OMB for review may be obtained from the Agency Clearance Officer. SUPPLEMENTARY INFORMATION: A team of Quality Assurance staff at the Disaster Assistance Center (DASC) will conduct a brief telephone survey of customers to determine their satisfaction with the services received from the (DASC) and the Field Operations Centers. The result SUMMARY: 12 17 Jkt 238001 79127 PO 00000 CFR 200.30–3(a)(12). Frm 00100 Fmt 4703 Sfmt 4703 DEPARTMENT OF STATE [Public Notice: 9389] Advisory Committee on Historical Diplomatic Documentation—Notice of Closed and Open Meetings for 2016 The Advisory Committee on Historical Diplomatic Documentation will meet on March 7, June 6, August 29, and December 12, 2016, in open session to discuss unclassified matters concerning declassification and transfer of Department of State records to the National Archives and Records Administration and the status of the Foreign Relations series. The Committee will meet in open session from 11:00 a.m. until noon in SA–4D Conference Room, Department of State, 2300 E Street NW., Washington DC 20372 (Potomac Navy Hill Annex). RSVP should be sent as directed below: • March 7, not later than February 29, 2016. Requests for reasonable accommodation should be made by February 22, 2016. • June 6, not later than May 30, 2016. Requests for reasonable accommodation should be made by May 23, 2016. • August 29, not later than August 22, 2016. Requests for reasonable accommodation should be made by August 15, 2016. • December 12, not later than December 5, 2016. Requests for reasonable accommodation should be made by November 28, 2016. Closed Sessions. The Committee’s sessions in the afternoon of Monday, March 7, 2016; in the morning of Tuesday, March 8; in the afternoon of Monday, June 6, 2016; in the morning of Tuesday, June 7, 2016; in the afternoon of Monday, August 29, 2016; in the morning of Tuesday, August 30, 2016; in the afternoon of Monday, December 12, 2016; and in the morning of Tuesday, December 13, 2016, will be closed in accordance with Section 10(d) SUMMARY: E:\FR\FM\18DEN1.SGM 18DEN1

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[Federal Register Volume 80, Number 243 (Friday, December 18, 2015)]
[Notices]
[Pages 79126-79127]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-31786]



[[Page 79126]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76636; File No. SR-NYSEArca-2015-119]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Amending the NYSE 
Arca Options Fee Schedule

December 14, 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 December 1, 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 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 the Fee Schedule, effective December 
1, 2015, to eliminate the Floor Broker Order Capture Device Log-In Fee 
(``Log-In Fee'').
    Currently, the Exchange charges a monthly Log-In Fee of $150 per 
assigned log-in ID per month to access the Exchange-sponsored Floor 
Broker Order Capture System by means of a Floor Broker Order Capture 
Device (``FBOCD'').\4\ The log-in permits OTP Holder access to the 
System from any FBOCD, whether located in a Floor Broker's booth or a 
general access device located on the Trading Floor. Floor Brokers are 
required to use the FBOCDs to electronically record the receipt of an 
order and any events in the life of the order, including execution or 
cancellation.
---------------------------------------------------------------------------

    \4\ The Exchange notes that it is not proposing any changes to 
the monthly charge of $175 for each FBOCD, which is capped at $4,200 
in total per device. The FBOCD is used by Floor Brokerage operations 
to comply with the requirements of Rule 6.67, Order Format and 
System Entry Requirements, namely, the systemization of order 
details and electronic tracking of all events in the life of an 
order, up to and including cancellation or execution.
---------------------------------------------------------------------------

    The Log-In Fee was instituted to cover the cost per log-in charged 
by data vendors for access to each FBOCD.\5\ The Exchange is in the 
process of establishing alternative vendors for FBOCD use, which may 
impact costs to the Exchange. As a result, the Exchange proposes to 
eliminate the Log-In Fee at this time. Elimination of this fee would 
not result in any changes to how the FBOCD functions.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 63643 (January 5, 
2011) 76 FR 2163 (January 12, 2011) (NYSEArca-2010-123).
---------------------------------------------------------------------------

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 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 Log-In Fee was designed to recover costs being charged to the 
Exchange for use of FBOCD. The Exchange therefore believes it is 
reasonable, equitable and not unfairly discriminatory to eliminate the 
Log-In Fee charged to OTP Holders as the Exchange re-evaluates and 
potentially restructures the cost of FBOCD use to the Exchange. The 
Exchange believes the elimination of the Log-In Fee would result in the 
fair and reasonable use of resources by OTP Holders, particularly Floor 
Brokers.
    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,\8\ 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. Because the proposed change would result in the 
fair and reasonable use of resources by OTP Holders, particularly Floor 
Brokers, the Exchange believes the elimination of the Log-In Fee is 
pro-competitive.
---------------------------------------------------------------------------

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

    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) \9\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \10\ thereunder, because it establishes a due, fee, or other charge 
imposed by the Exchange.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 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

[[Page 79127]]

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) \11\ of the Act to 
determine whether the proposed rule change should be approved or 
disapproved.
---------------------------------------------------------------------------

    \11\ 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-2015-119 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.

All submissions should refer to File Number SR-NYSEArca-2015-119. 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 on official business days between the hours 
of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available 
for inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-NYSEArca-2015-119 and should 
be submitted on or before January 8, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------


Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-31786 Filed 12-17-15; 8:45 am]
 BILLING CODE 8011-01-P
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