Sunshine Act Meeting, 3224-3225 [2016-01129]

Download as PDF 3224 Federal Register / Vol. 81, No. 12 / Wednesday, January 20, 2016 / Notices tkelley on DSK4VPTVN1PROD with NOTICES percentage of total industry customer equity and ETF option ADV contract per day in a month from 1.40% to 1.30% to qualify for the additional Tier 8 rebate does not impose an undue burden on intra-market competition because, today, all Participants may qualify for the Tier 8 Customer and Professional Penny Pilot Options Rebates to Add Liquidity and qualify to earn the note ‘‘c’’ additional rebates. The Exchange will uniformly pay the Tier 8 and additional note ‘‘c’’ rebates to all Participants that transact the qualifying volume, respectively. Customer liquidity is critically important to the market and benefits all market participants. Greater customer liquidity benefits all market participants by providing more trading opportunities and attracting greater participation by specialists and market makers. An increase in the activity of these market participants in turn facilitates tighter spreads. All Participants are eligible for these rebates if they transact the requisite volume. All Participants are eligible for the note ‘‘c’’ incentives if they transact the requisite volume. Also, the Exchange believes that encouraging Participants to add Professional liquidity creates competition among options exchanges, because the Exchange believes that the rebates may cause market participants to select NOM as a venue to send Professional order flow. The Exchange’s proposal to bold the numbers and letters in note ‘‘c’’ do not impose an undue burden on intramarket competition because the amendment is non-substantive. NOM Market Maker Penny Pilot Options Rebate To Add Liquidity Tiers The Exchange’s proposal to amend Tier 6 of the NOM Market Maker Penny Pilot Options Rebate to Add Liquidity to eliminate one of the criteria to qualify for the $0.42 per contract Tier 6 rebate does not impose an undue burden on intra-market competition because the elimination of the qualifying language in Tier 6 of the NOM Market Maker Penny Pilot Options Rebate to Add Liquidity will uniformly apply to all Participants. No Participant will be entitled to the Tier 6 NOM Market Maker Penny Pilot Options Rebate to Add Liquidity by adding Customer, Professional, Firm, Non-NOM Market Maker, and/or Broker-Dealer liquidity in Penny Pilot Options and/or Non-Penny Pilot Options of 1.40% or more of total industry customer equity and ETF option ADV contracts per day in a month. The Exchange believes that offering rebates to these market participants is equitable and not VerDate Sep<11>2014 18:12 Jan 19, 2016 Jkt 238001 unfairly discriminatory in light of their obligations.26 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act.27 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is: (i) Necessary or appropriate in the public interest; (ii) for the protection of investors; or (iii) otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings to determine whether the proposed rule 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: 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 the filing also will 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– NASDAQ–2015–166, and should be submitted on or before February 10, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.28 Robert W. Errett, Deputy Secretary. [FR Doc. 2016–00897 Filed 1–19–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Electronic Comments Sunshine Act Meeting • 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– NASDAQ–2015–166 on the subject line. Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission Investor Advisory Committee will hold a meeting on Thursday, January 21, 2016, in MultiPurpose Room LL–006 at the Commission’s headquarters, 100 F Street NE., Washington, DC. The meeting will begin at 10:00 a.m. (ET) and will be open to the public. Seating will be on a first-come, first-served basis. Doors will open at 9:00 a.m. Visitors will be subject to security checks. The meeting will be webcast on the Commission’s Web site at www.sec.gov. On December 23, 2015, the Commission issued notice of the Committee meeting (Release No. 33– 10000), indicating that the meeting is open to the public (except during that portion of the meeting reserved for an administrative work session during lunch), and inviting the public to submit written comments to the Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NASDAQ–2015–166. 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 26 See 27 15 PO 00000 note 17 above. U.S.C. 78s(b)(3)(A)(ii). Frm 00131 Fmt 4703 Sfmt 4703 28 17 E:\FR\FM\20JAN1.SGM CFR 200.30–3(a)(12). 20JAN1 Federal Register / Vol. 81, No. 12 / Wednesday, January 20, 2016 / Notices Committee. This Sunshine Act notice is being issued because a quorum of the Commission may attend the meeting. The agenda for the meeting includes: remarks from Commissioners; a discussion of fixed income market structure and pre-trade price transparency; a discussion of a draft letter from the Investor as Owner subcommittee regarding Financial Accounting Standards Board proposed amendments to the Statement of Financial Accounting Concepts and Notes to Financial Statements concerning disclosure materiality; an update on crowdfunding rules; a discussion of NASDAQ listing standards—shareholder approval rules; subcommittee reports; and a nonpublic administrative work session during lunch. For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: January 14, 2016. Brent J. Fields, Secretary. [FR Doc. 2016–01129 Filed 1–15–16; 4:15 pm] BILLING CODE 8011–01–P [Release No. 34–76889; File No. SR– NYSEMKT–2015–113] tkelley on DSK4VPTVN1PROD with NOTICES January 13, 2016. 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 31, 2015, NYSE MKT LLC (the ‘‘Exchange’’ or ‘‘NYSE MKT’’) 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. U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. VerDate Sep<11>2014 18:12 Jan 19, 2016 Jkt 238001 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. Purpose Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Market Data Fees for the NYSE Amex Options Product 2 15 The Exchange proposes to amend the fees for NYSE Amex Options Product,4 as set forth on the NYSE Amex Options Proprietary Market Data Fee Schedule (‘‘Fee Schedule’’). The Exchange proposes to establish a multiple data feed fee effective January 1, 2016. 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. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change SECURITIES AND EXCHANGE COMMISSION 1 15 I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend the fees for NYSE Amex Options Product,5 as set forth on the NYSE Amex Options Proprietary Market Data Fee Schedule (‘‘Fee Schedule’’). The Exchange proposes to establish a multiple data feed fee effective January 1, 2016. Specifically, the Exchange proposes to establish a new monthly fee, the ‘‘Multiple Data Feed Fee,’’ that would apply to data recipients that take a data feed for NYSE Amex Options Product in more than two locations. Data recipients taking NYSE Amex Options Product in more than two locations would be charged $200 per additional location per 4 See Securities Exchange Act Release Nos. 76022 (Sept. 29, 2015), 80 FR 60201 (Oct. 5, 2015) (SR– NYSEMKT–2015–68) (Notice). The single fee for the NYSE Amex Options Product set forth on the Fee Schedule is comprised of three data feeds: Amex Options Top, Amex Options Deep, and Amex Options Complex. 5 See Securities Exchange Act Release Nos. 76022 (Sept. 29, 2015), 80 FR 60201 (Oct. 5, 2015) (SR– NYSEMKT–2015–68) (Notice). The single fee for the NYSE Amex Options Product set forth on the Fee Schedule is comprised of three data feeds: Amex Options Top, Amex Options Deep, and Amex Options Complex. PO 00000 Frm 00132 Fmt 4703 Sfmt 4703 3225 product per month. No new reporting would be required.6 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of section 6 of the Act,7 in general, and sections 6(b)(4) and 6(b)(5) of the Act,8 in particular, in that it provides an equitable allocation of reasonable fees among users and recipients of the data and is not designed to permit unfair discrimination among customers, issuers, and brokers. The fees are also equitable and not unfairly discriminatory because they will apply to all data recipients that choose to subscribe to NYSE Amex Options Product. The Exchange believes that it is reasonable to require data recipients to pay a modest additional fee taking a data feed for a market data product in more than two locations, because such data recipients can derive substantial value from being able to consume the product in as many locations as they want. In addition, there are administrative burdens associated with tracking each location at which a data recipient receives the product. The Multiple Data Feed Fee is designed to encourage data recipients to better manage their requests for additional data feeds and to monitor their usage of data feeds. The proposed fee is designed to apply to data feeds received in more than two locations so that each data recipient can have one primary and one backup data location before having to pay a multiple data feed fee. The Exchange notes that this pricing is consistent with similar pricing adopted in 2013 by the Consolidated Tape Association (‘‘CTA’’).9 The Exchange also notes that the OPRA Plan imposes a similar charge of $100 per connection for circuit connections in addition to the primary and backup connections.10 The Exchange notes that NYSE Amex Options Product is entirely optional. 6 Data vendors currently report a unique Vendor Account Number for each location at which they provide a data feed to a data recipient. The Exchange considers each Vendor Account Number a location. For example, if a data recipient has five Vendor Account Numbers, representing five locations, for the receipt of the NYSE Amex Options Product, that data recipient will pay the Multiple Data Feed fee with respect to three of the five locations, or $600. 7 15 U.S.C. 78f(b). 8 15 U.S.C. 78f(b)(4), (5). 9 See Securities Exchange Act Release No. 70010 (July 19, 2013), 78 FR 44984 (July 25, 2013) (SR– CTA/CQ–2013–04). 10 See ‘‘Direct Access Fee,’’ Options Price Reporting Authority Fee Schedule Fee Schedule PRA Plan at https://www.opradata.com/pdf/fee_ schedule.pdf E:\FR\FM\20JAN1.SGM 20JAN1

Agencies

[Federal Register Volume 81, Number 12 (Wednesday, January 20, 2016)]
[Notices]
[Pages 3224-3225]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-01129]


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SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission Investor Advisory Committee will hold a meeting 
on Thursday, January 21, 2016, in Multi-Purpose Room LL-006 at the 
Commission's headquarters, 100 F Street NE., Washington, DC. The 
meeting will begin at 10:00 a.m. (ET) and will be open to the public. 
Seating will be on a first-come, first-served basis. Doors will open at 
9:00 a.m. Visitors will be subject to security checks. The meeting will 
be webcast on the Commission's Web site at www.sec.gov.
    On December 23, 2015, the Commission issued notice of the Committee 
meeting (Release No. 33-10000), indicating that the meeting is open to 
the public (except during that portion of the meeting reserved for an 
administrative work session during lunch), and inviting the public to 
submit written comments to the

[[Page 3225]]

Committee. This Sunshine Act notice is being issued because a quorum of 
the Commission may attend the meeting.
    The agenda for the meeting includes: remarks from Commissioners; a 
discussion of fixed income market structure and pre-trade price 
transparency; a discussion of a draft letter from the Investor as Owner 
subcommittee regarding Financial Accounting Standards Board proposed 
amendments to the Statement of Financial Accounting Concepts and Notes 
to Financial Statements concerning disclosure materiality; an update on 
crowdfunding rules; a discussion of NASDAQ listing standards--
shareholder approval rules; subcommittee reports; and a nonpublic 
administrative work session during lunch.
    For further information, please contact the Office of the Secretary 
at (202) 551-5400.

    Dated: January 14, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-01129 Filed 1-15-16; 4:15 pm]
BILLING CODE 8011-01-P
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