Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Make Minor Changes to Rule 1064, Crossing, Facilitation and Solicited Orders, 5796-5798 [2016-01925]
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Federal Register / Vol. 81, No. 22 / Wednesday, February 3, 2016 / Notices
equitable allocation of reasonable dues,
fees, and other charges among its Permit
Holders and other persons using its
facilities. Additionally, the Exchange
believes the proposed rule change is
consistent with the Section 6(b)(5) 6
requirement that the rules of an
exchange not be designed to permit
unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange believes the proposed
fee change is reasonable because it
would help the Exchange offset
increased regulatory costs but would not
result in total regulatory revenue
exceeding total regulatory costs.
Moreover, the Exchange believes the
ORF ensures fairness by assessing
higher fees to those Permit Holders that
require more Exchange regulatory
services based on the amount of
customer options business they
conduct. Regulating customer trading
activity is much more labor intensive
and requires greater expenditure of
human and technical resources than
regulating non-customer trading
activity, which tends to be more
automated and less labor-intensive. As a
result, the costs associated with
administering the customer component
of the Exchange’s overall regulatory
program are materially higher than the
costs associated with administering the
non-customer component (e.g., Permit
Holder proprietary transactions) of its
regulatory program.7 The Exchange
believes the proposed fee change is
equitable and not unfairly
discriminatory in that it is charged to all
Permit Holders on all their transactions
that clear in the customer range at the
OCC.
mstockstill on DSK4VPTVN1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
C2 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 it applies
to all Permit Holders. The proposed
ORF is comparable to fees charged by
other options exchanges for the same or
similar service. The Exchange believes
any burden on competition imposed by
the proposed rule change is outweighed
by the need to help the Exchange
adequately fund its regulatory activities
to ensure compliance with the Exchange
Act.
6 15
U.S.C. 78f(b)(5).
the Exchange changes its method of funding
regulation or if circumstances otherwise change in
the future, the Exchange may decide to modify the
ORF or assess a separate regulatory fee on Permit
Holder proprietary transactions if the Exchange
deems it advisable.
7 If
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19:14 Feb 02, 2016
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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposed
rule change.
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)
of the Act 8 and paragraph (f) of Rule
19b–4 9 thereunder. 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 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 will institute proceedings
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–
C2–2016–001 on the subject line.
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–C2–2016–001. 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 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–C2–
2016–001 and should be submitted on
or before February 24, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–01931 Filed 2–2–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76984; File No. SR–Phlx–
2016–07]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change to Make Minor
Changes to Rule 1064, Crossing,
Facilitation and Solicited Orders
January 28, 2016.
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 January
14, 2016, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘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.
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
8 15
U.S.C. 78s(b)(3)(A).
9 17 CFR 240.19b–4(f).
PO 00000
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Fmt 4703
Sfmt 4703
E:\FR\FM\03FEN1.SGM
03FEN1
Federal Register / Vol. 81, No. 22 / Wednesday, February 3, 2016 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to make
minor changes to Rule 1064, Crossing,
Facilitation and Solicited Orders.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.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
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
mstockstill on DSK4VPTVN1PROD with NOTICES
The purpose of the filing is to
improve the readability of Rule 1064
with a few minor changes. Rule 1064 is
lengthy and covers several complicated,
related topics.
First, the Exchange proposes to add
headings to certain paragraphs to make
it easier to locate each of the following
topics: Crossing,3 Anticipatory
Hedging 4 and Floor Qualified
Contingent Cross.5 Paragraph (b),
Facilitation Orders and paragraph (c),
Solicited Orders, already have headings
so headings would now run consistently
throughout the rule.
Second, the Exchange also proposes
to move the language from two
commentaries into the body of the rule,
also to improve readability. Specifically,
the language in Commentary .03 is being
moved to become the new Rule
1064(a)(iv), because it relates to crossing
orders, which is covered in paragraph
(a). Also, the language in Commentary
.04 is being moved to become the new
Rule 1064(d)(iii), which is related to the
anticipatory hedging provisions
currently in paragraph (d).
1064(a).
1064(d).
5 Rule 1064(e).
4 Rule
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19:14 Feb 02, 2016
Jkt 238001
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 6 in general, and furthers the
objectives of Section 6(b)(5) of the Act 7
in particular, in that it is designed to
protect investors and the public interest
by improving the readability of a
lengthy and complicated rule. The
Exchange believes that the proposed
headings and merging of commentary
language into the main body of the rule
should prevent confusion.
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 not
necessary or appropriate in furtherance
of the purposes of the Act. Because the
proposal merely reorganizes a rule, it
has no impact on either inter-market or
intra-market competition.
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
1. Purpose
3 Rule
2. Statutory Basis
Because the foregoing 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 for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A)(iii) of the Act 8 and
subparagraph (f)(6) of Rule 19b–4
thereunder.9
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
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
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) requires a self-regulatory organization to give
the Commission written notice of its intent to file
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.
7 15
PO 00000
Frm 00095
Fmt 4703
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5797
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:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–Phlx–2016–07 on the
subject line.
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–Phlx–2016–07. 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 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–Phlx–
2016–07, and should be submitted on or
before February 24, 2016.
E:\FR\FM\03FEN1.SGM
03FEN1
5798
Federal Register / Vol. 81, No. 22 / Wednesday, February 3, 2016 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–01925 Filed 2–2–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–76981; File No. SR–
NYSEArca–2016–20]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Reflect Changes to
the Investment Strategy for the
PowerShares S&P 500® Downside
Hedged Portfolio
January 28, 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 January
26, 2016, 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 and II 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes a rule change
to reflect changes to the investment
strategy for the PowerShares S&P 500®
Downside Hedged Portfolio (the
‘‘Fund’’). 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.
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
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19:14 Feb 02, 2016
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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 Commission previously approved
listing and trading on the Exchange of
shares (‘‘Shares’’) of the Fund, a series
of the PowerShares Actively Managed
Exchange-Traded Fund Trust (the
‘‘Trust’’),4 under NYSE Arca Equities
Rule 8.600, which governs the listing
and trading of Managed Fund Shares.
Shares of the Fund have commenced
listing and trading on the Exchange.
The Shares are offered by the Trust,
a statutory trust organized under the
laws of the State of Delaware and
registered with the Commission as an
open-end management investment
company.5 The investment advisor to
the Fund is Invesco PowerShares
Capital Management LLC (the
‘‘Adviser’’).
In this proposed rule change, the
Exchange proposes to reflect changes to
the investment strategy that the Adviser
utilizes in seeking to achieve the Fund’s
investment objective, as described
below.6
The Prior Release stated that,
according to the Registration Statement,
the Fund is an actively managed
exchange-traded fund that will seek to
achieve positive total returns in rising or
falling markets that are not directly
4 See Securities Exchange Act Release No. 68158
(Nov. 5, 2012), 77 FR 67412 (Nov. 9, 2012) (SR–
NYSEArca–2012–101) (‘‘Prior Order’’). See also
Securities Exchange Act Release No. 67881 (Sept.
18, 2012), 77 FR 58889 (Sept. 24, 2012) (SR–
NYSEArca–2012–101) (‘‘Prior Notice,’’ and together
with the Prior Order, the ‘‘Prior Release’’).
5 The Trust is registered under the Investment
Company Act of 1940 (15 U.S.C. 80a–1) (‘‘1940
Act’’). The Trust intends to file a prospectus
supplement with the Commission or a post-effective
amendment to its registration statement on Form N–
1A under the Securities Act of 1933 (15 U.S.C. 77a)
(‘‘Securities Act’’), and under the 1940 Act relating
to the Fund (File Nos. 333–147622 and 811–22148)
(‘‘Registration Statement’’) to reflect the changes
requested in the proposed rule change upon
effectiveness of the rule change. The description of
the operation of the Trust and the Fund herein will
be reflected in any such filing. In addition, the
Commission has issued an order granting certain
exemptive relief to the Trust under the1940 Act.
See Investment Company Act Release No. 28171
(Feb. 27, 2008) (File No. 812–13386) (‘‘Exemptive
Order’’).
6 The changes described herein will be effective
contingent upon filing of a prospectus supplement
or upon effectiveness of the Trust’s most recent
post-effective amendment to its Registration
Statement. See note 5, supra. The Adviser
represents that the Adviser will not implement the
changes described herein until the instant proposed
rule change is operative.
PO 00000
Frm 00096
Fmt 4703
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correlated to broad equity or fixed
income market returns. According to the
Registration Statement, the Fund seeks
to achieve its investment objective by
using a quantitative, rules-based
investment strategy designed to provide
returns that correspond to the
performance of the S&P 500 Dynamic
VEQTOR Index (the ‘‘Benchmark’’). The
Registration Statement also stated that
the allocation among the Fund’s
investments generally will approximate
the allocation among the components of
the Benchmark.
The Adviser now represents that,
rather than employing a quantitative,
rules-based strategy designed to provide
returns that correspond to the
performance of the Benchmark, the
Fund will use a quantitative, rulesbased strategy that is designed to
outperform the Benchmark rather than
match it.
The Adviser will continue to invest
the Fund in the same instruments as are
contained in the Benchmark, as
discussed in the Prior Release. However,
the Adviser now represents that the
Fund will use portfolio management
strategies in seeking to achieve its
investment objective that allocate the
Fund’s assets in a manner that may not
correspond to the Benchmark. The
Adviser also now represents that, going
forward, the Fund will seek to
outperform the Benchmark rather than
match it.
The Exchange notes that the Prior
Release stated that, according to the
Registration Statement, the Fund may
invest a portion of its assets in highquality money market instruments,
cash, and cash equivalents to provide
liquidity, to collateralize its futures
contracts investments, or to track the
Benchmark during times when the
Benchmark moves its entire allocation
to cash. The Exchange also proposes to
change this representation to state that
the Fund may invest a portion of its
assets in high-quality money market
instruments, cash, and cash equivalents
to provide liquidity, to collateralize its
futures contracts investments, or during
periods of heightened volatility when
the Adviser believes that it is in the best
interest of the Fund to do so. Because
the Fund, going forward, would seek to
outperform rather than match the
Benchmark, the Fund would no longer
utilize high quality money market
instruments, cash and cash equivalents
for the purpose of tracking the
Benchmark.
The Adviser represents that there is
no change to the Fund’s investment
objective. The Fund will continue to
invest in the securities and financial
instruments identified in the Prior
E:\FR\FM\03FEN1.SGM
03FEN1
]]>Agencies
[Federal Register Volume 81, Number 22 (Wednesday, February 3, 2016)]
[Notices]
[Pages 5796-5798]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-01925]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-76984; File No. SR-Phlx-2016-07]
Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to Make
Minor Changes to Rule 1064, Crossing, Facilitation and Solicited Orders
January 28, 2016.
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 January 14, 2016, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
[[Page 5797]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to make minor changes to Rule 1064, Crossing,
Facilitation and Solicited Orders.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqomxphlx.cchwallstreet.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 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 the filing is to improve the readability of Rule
1064 with a few minor changes. Rule 1064 is lengthy and covers several
complicated, related topics.
First, the Exchange proposes to add headings to certain paragraphs
to make it easier to locate each of the following topics: Crossing,\3\
Anticipatory Hedging \4\ and Floor Qualified Contingent Cross.\5\
Paragraph (b), Facilitation Orders and paragraph (c), Solicited Orders,
already have headings so headings would now run consistently throughout
the rule.
---------------------------------------------------------------------------
\3\ Rule 1064(a).
\4\ Rule 1064(d).
\5\ Rule 1064(e).
---------------------------------------------------------------------------
Second, the Exchange also proposes to move the language from two
commentaries into the body of the rule, also to improve readability.
Specifically, the language in Commentary .03 is being moved to become
the new Rule 1064(a)(iv), because it relates to crossing orders, which
is covered in paragraph (a). Also, the language in Commentary .04 is
being moved to become the new Rule 1064(d)(iii), which is related to
the anticipatory hedging provisions currently in paragraph (d).
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and furthers the objectives of Section
6(b)(5) of the Act \7\ in particular, in that it is designed to protect
investors and the public interest by improving the readability of a
lengthy and complicated rule. The Exchange believes that the proposed
headings and merging of commentary language into the main body of the
rule should prevent confusion.
---------------------------------------------------------------------------
\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 not necessary or appropriate in
furtherance of the purposes of the Act. Because the proposal merely
reorganizes a rule, it has no impact on either inter-market or intra-
market competition.
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
Because the foregoing 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 for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A)(iii) of the Act \8\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\9\
---------------------------------------------------------------------------
\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)
requires a self-regulatory organization to give the Commission
written notice of its intent to file 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.
---------------------------------------------------------------------------
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:
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-Phlx-2016-07 on the subject line.
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-Phlx-2016-07. 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 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-Phlx-2016-07, and should be
submitted on or before February 24, 2016.
[[Page 5798]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-01925 Filed 2-2-16; 8:45 am]
BILLING CODE 8011-01-P
