Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rule 7.33 To Conform the Exchange's Rules to Industry-Wide Standards for Recording the Capacity in Which an ETP Holder Executes a Transaction, 15141-15143 [2016-06239]
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Federal Register / Vol. 81, No. 54 / Monday, March 21, 2016 / Notices
would not participate to the extent that
they might have otherwise participated.
The Exchange believes that certain
systems disruptions could preclude
some member organizations from
submitting orders to the Exchange even
if such issue is not actually a complete
systems outage.
Finally, the Exchange believes that
the proposal is equitable and not
unfairly discriminatory because the
methodology for the monthly
calculations would apply equally to all
member organizations and to all volume
tiers. The Exchange notes that, although
unlikely, there is some possibility that
a certain small proportion of member
organizations may have a higher ADV as
a percentage of average daily volume
with their activity included from days
where the Exchange experiences a
system disruption. The Exchange
believes that the proposal would still be
equitable and not unfairly
discriminatory given that the impacted
universe is potentially quite small and
that the proposal would benefit the
overwhelming majority of market
participants and would make the overall
cost of trading on the Exchange more
predictable for the membership as a
whole.
For the foregoing 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,13 the Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
The Exchange believes that, with
respect to monthly calculations for
rebates, there are very few instances
where the exclusion would be invoked,
and if invoked, would have little or no
impact on trading decisions or
execution quality. On the contrary, the
Exchange believes that the proposal
fosters competition by avoiding a
penalty to member organizations for
days when trading on the Exchange is
disrupted for a significant portion of the
day and would result in lower total
costs to end users, a positive outcome of
competitive markets. Further, other
options exchanges have adopted rules
that are substantially similar to the
change in ADV calculation being
proposed by the Exchange.14
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) 15 of the Act and
subparagraph (f)(2) of Rule 19b–4 16
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) 17 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–
NYSEMKT–2016–33 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–NYSEMKT–2016–33. 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/
13 15
U.S.C. 78s(b)(3)(A).
16 17 CFR 240.19b–4(f)(2).
17 15 U.S.C. 78s(b)(2)(B).
U.S.C. 78f(b)(8).
note 5, supra.
14 See
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17:46 Mar 18, 2016
Jkt 238001
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–
NYSEMKT–2016–33 and should be
submitted on or before April 11, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–06229 Filed 3–18–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77374; File No. SR–
NYSEARCA–2016–42]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending NYSE Arca
Equities Rule 7.33 To Conform the
Exchange’s Rules to Industry-Wide
Standards for Recording the Capacity
in Which an ETP Holder Executes a
Transaction
March 15, 2016.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on March 4,
2016, NYSE Arca, Inc. (the ‘‘Exchange’’
or ‘‘NYSE Arca’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
18 17
15 15
PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
15141
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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15142
Federal Register / Vol. 81, No. 54 / Monday, March 21, 2016 / Notices
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 to amend
NYSE Arca Equities Rule 7.33 to
conform the Exchange’s rules to
industry-wide standards for recording
the capacity in which an ETP Holders
[sic] executes a transaction. 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
Statutory Basis for, the Proposed Rule
Change
mstockstill on DSK4VPTVN1PROD with NOTICES
1. Purpose
NYSE Arca Equities Rule 7.33 (‘‘Rule
7.33’’) currently provides that ETP
Holders may enter proprietary orders
and agency orders for the account of a
customer into the NYSE Arca
Marketplace 4 and that proprietary
orders are subject to the same display
and execution processes as agency
orders. Rule 7.33 further provides that
an ETP Holder entering a proprietary
order shall mark the order with the
appropriate designator to identify the
order as proprietary.
As proposed, Rule 7.33 would be
amended to add a clause specifying that
ETP Holders must input accurate
information into the NYSE Arca
Marketplace, including, but not limited
to, identifying the capacity in which the
ETP Holder entered each order, as
follows: principal, agency, or riskless
4 The term ‘‘NYSE Arca Marketplace’’ is defined
in NYSE Arca Equities Rule 1.1.
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17:46 Mar 18, 2016
Jkt 238001
principal.5 The Exchange would delete
the current clause relating to the entry
of proprietary orders and agency orders
for the account of a customer and the
clause providing that ETP Holders
entering proprietary orders mark the
order with the appropriate designator to
identify the order as proprietary as
redundant. The Exchange proposes to
retain the clause providing that
proprietary orders would be subject to
the same display and execution
processes as agency orders.
By requiring ETP Holders to identify
the capacity in which they enter an
order, the Exchange would be
harmonizing its order entry
requirements with those of other
national securities exchanges.6 The
proposed changes would not alter an
ETP Holder’s obligation to meet order
audit trail system requirements, as set
forth in the Rule 7400 Series (Order
Audit Trail System).
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,7 in general, and
furthers the objectives of Section 6(b)(5)
of the Act,8 in particular, because it is
designed to promote just and equitable
principles of trade and to remove
impediments to and perfect the
mechanism of a free and open market
and a national market system. The
Exchange believes that the proposed
rule change would remove impediments
to and perfect the mechanism of a free
and open market and national market
system because it would provide greater
harmonization between order entry on
the Exchange and other marketplaces,
resulting in greater uniformity and more
efficient order entry to enable ETP
Holders to use the same order-marking
conventions across all equities markets.
As such, the proposed rule change
would foster cooperation and
coordination with persons engaged in
5 In general, the term ‘‘capacity’’ refers to whether
a broker-dealer acts as agent, i.e., directly on behalf
of a customer, or whether the broker-dealer acts as
principal, i.e., for its own account, in a transaction.
A riskless principal transaction is one where a
broker-dealer receives a customer order and then
immediately executes an identical order in the
marketplace, while taking on the role of principal,
in order to fill the customer order pursuant to NYSE
Arca Equities Rule 5320.
6 See, e.g., BATS Exchange, Inc. (‘‘BATS’’) Rule
11.21; BATS Y-Exchange, Inc. (‘‘BATS–Y’’) Rule
11.21; EDGA Exchange, Inc. (‘‘EDGA’’) Rule 11.5;
EDGX Exchange, Inc. Rule 11.5; and NASDAQ
Stock Market LLC (‘‘NASDAQ’’) Rule 4611(a)(6).
The Exchange’s affiliates New York Stock Exchange
LLC (‘‘NYSE’’) and NYSE MKT LL [sic] (‘‘NYSE
MKT’’) impose the same marking requirements on
clearing member organizations. See NYSE Rule
132.30(9) & NYSE MKT Rule 132.30(9).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
facilitating transactions in securities and
would remove impediments to and
perfect the mechanism of a free and
open market and a national market
system.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is not intended to
address competitive issues, but rather it
is designed to provide greater
harmonization between the Exchange
and other markets in the marking of
orders, resulting in more uniform and
efficient order entry.
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
Because the 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) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10
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 shall 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
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of 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.
10 17
E:\FR\FM\21MRN1.SGM
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Federal Register / Vol. 81, No. 54 / Monday, March 21, 2016 / Notices
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–2016–42 on the subject
line.
mstockstill on DSK4VPTVN1PROD with NOTICES
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–NYSEARCA–2016–42. 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–
NYSEARCA–2016–42 and should be
submitted on or before April 11, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–06239 Filed 3–18–16; 8:45 am]
BILLING CODE 8011–01–P
11 17
CFR 200.30–3(a)(12).
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17:46 Mar 18, 2016
Jkt 238001
15143
SECURITIES AND EXCHANGE
COMMISSION
Disbursement Center, 14925 Kingsport
Road, Fort Worth, TX 76155.
[File No. 500–1]
FOR FURTHER INFORMATION CONTACT:
In the Matter of Broke Out, Inc.; Order
of Suspension of Trading
March 17, 2016.
A.
Escobar, Office of Disaster Assistance,
U.S. Small Business Administration,
409 3rd Street SW., Suite 6050,
Washington, DC 20416.
Notice is
hereby given that as a result of the
President’s major disaster declaration on
03/13/2016, applications for disaster
loans may be filed at the address listed
above or other locally announced
locations.
The following areas have been
determined to be adversely affected by
the disaster:
It appears to the Securities and
Exchange Commission that the public
interest and the protection of investors
require a suspension of trading in the
securities of Broke Out, Inc. (‘‘BRKO’’)
because of concerns regarding the
accuracy and adequacy of information
in the marketplace and potentially
manipulative transactions in BRKO
common stock. BRKO is a Nevada
corporation with a business address in
Frankfurt, Germany and its common
stock is quoted on the OTC Link
(previously ‘‘Pink Sheets’’) operated by
OTC Markets Group, Inc. (‘‘OTC Link)
under the ticker symbol BRKO.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of the above-listed
company.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed company is
suspended for the period from 9:30 a.m.
EDT on March 17, 2016 through 11:59
p.m. EDT on March 31, 2016.
SUPPLEMENTARY INFORMATION:
By the Commission.
Jill M. Peterson,
Assistant Secretary.
For Physical Damage:
Homeowners With Credit Available Elsewhere ......................
Homeowners Without Credit
Available Elsewhere ..............
Businesses With Credit Available Elsewhere ......................
Businesses
Without
Credit
Available Elsewhere ..............
Non-Profit Organizations With
Credit Available Elsewhere ...
Non-Profit Organizations Without Credit Available Elsewhere .....................................
For Economic Injury:
Businesses & Small Agricultural
Cooperatives Without Credit
Available Elsewhere ..............
Non-Profit Organizations Without Credit Available Elsewhere .....................................
[FR Doc. 2016–06365 Filed 3–17–16; 11:15 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration #14667 and #14668]
Louisiana Disaster #LA–00062
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
This is a Notice of the
Presidential declaration of a major
disaster for the State of Louisiana
(FEMA–4263–DR), dated 03/13/2016.
Incident: Severe Storms and Flooding.
Incident Period: 03/08/2016 and
continuing.
Effective Date: 03/13/2016.
Physical Loan Application Deadline
Date: 05/12/2016.
Economic Injury (EIDL) Loan
Application Deadline Date: 12/13/2016.
ADDRESSES: Submit completed loan
applications to: U.S. Small Business
Administration, Processing and
SUMMARY:
PO 00000
Frm 00110
Fmt 4703
Sfmt 9990
Primary Counties (Physical Damage and
Economic Injury Loans): Bossier,
Claiborne, Grant, Morehouse,
Ouachita, Richland, Webster.
Contiguous Counties (Economic Injury
Loans Only):
Louisiana: Bienville, Caddo, Caldwell,
East Carroll, Franklin, Jackson, La
Salle, Lincoln, Madison,
Natchitoches, Rapides, Red River,
Union, West Carroll, Winn.
Arkansas: Ashley, Chicot, Columbia,
Lafayette, Miller, Union.
The Interest Rates are:
Percent
3.625
1.813
6.250
4.000
2.625
2.625
4.000
2.625
The number assigned to this disaster
for physical damage is 146676 and for
economic injury is 146680.
(Catalog of Federal Domestic Assistance
Numbers 59008)
Lisa Lopez-Suarez,
Acting Associate Administrator for Disaster
Assistance.
[FR Doc. 2016–06202 Filed 3–18–16; 8:45 am]
BILLING CODE 8025–01–P
E:\FR\FM\21MRN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 54 (Monday, March 21, 2016)]
[Notices]
[Pages 15141-15143]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06239]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77374; File No. SR-NYSEARCA-2016-42]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca
Equities Rule 7.33 To Conform the Exchange's Rules to Industry-Wide
Standards for Recording the Capacity in Which an ETP Holder Executes a
Transaction
March 15, 2016.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on March 4, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II
[[Page 15142]]
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 NYSE Arca Equities Rule 7.33 to
conform the Exchange's rules to industry-wide standards for recording
the capacity in which an ETP Holders [sic] executes a transaction. 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
NYSE Arca Equities Rule 7.33 (``Rule 7.33'') currently provides
that ETP Holders may enter proprietary orders and agency orders for the
account of a customer into the NYSE Arca Marketplace \4\ and that
proprietary orders are subject to the same display and execution
processes as agency orders. Rule 7.33 further provides that an ETP
Holder entering a proprietary order shall mark the order with the
appropriate designator to identify the order as proprietary.
---------------------------------------------------------------------------
\4\ The term ``NYSE Arca Marketplace'' is defined in NYSE Arca
Equities Rule 1.1.
---------------------------------------------------------------------------
As proposed, Rule 7.33 would be amended to add a clause specifying
that ETP Holders must input accurate information into the NYSE Arca
Marketplace, including, but not limited to, identifying the capacity in
which the ETP Holder entered each order, as follows: principal, agency,
or riskless principal.\5\ The Exchange would delete the current clause
relating to the entry of proprietary orders and agency orders for the
account of a customer and the clause providing that ETP Holders
entering proprietary orders mark the order with the appropriate
designator to identify the order as proprietary as redundant. The
Exchange proposes to retain the clause providing that proprietary
orders would be subject to the same display and execution processes as
agency orders.
---------------------------------------------------------------------------
\5\ In general, the term ``capacity'' refers to whether a
broker-dealer acts as agent, i.e., directly on behalf of a customer,
or whether the broker-dealer acts as principal, i.e., for its own
account, in a transaction. A riskless principal transaction is one
where a broker-dealer receives a customer order and then immediately
executes an identical order in the marketplace, while taking on the
role of principal, in order to fill the customer order pursuant to
NYSE Arca Equities Rule 5320.
---------------------------------------------------------------------------
By requiring ETP Holders to identify the capacity in which they
enter an order, the Exchange would be harmonizing its order entry
requirements with those of other national securities exchanges.\6\ The
proposed changes would not alter an ETP Holder's obligation to meet
order audit trail system requirements, as set forth in the Rule 7400
Series (Order Audit Trail System).
---------------------------------------------------------------------------
\6\ See, e.g., BATS Exchange, Inc. (``BATS'') Rule 11.21; BATS
Y-Exchange, Inc. (``BATS-Y'') Rule 11.21; EDGA Exchange, Inc.
(``EDGA'') Rule 11.5; EDGX Exchange, Inc. Rule 11.5; and NASDAQ
Stock Market LLC (``NASDAQ'') Rule 4611(a)(6). The Exchange's
affiliates New York Stock Exchange LLC (``NYSE'') and NYSE MKT LL
[sic] (``NYSE MKT'') impose the same marking requirements on
clearing member organizations. See NYSE Rule 132.30(9) & NYSE MKT
Rule 132.30(9).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\7\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\8\ in particular, because it
is designed to promote just and equitable principles of trade and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system. The Exchange believes that the
proposed rule change would remove impediments to and perfect the
mechanism of a free and open market and national market system because
it would provide greater harmonization between order entry on the
Exchange and other marketplaces, resulting in greater uniformity and
more efficient order entry to enable ETP Holders to use the same order-
marking conventions across all equities markets. As such, the proposed
rule change would foster cooperation and coordination with persons
engaged in facilitating transactions in securities and would remove
impediments to and perfect the mechanism of a free and open market and
a national market system.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 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 that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not intended to address competitive issues, but rather it is designed
to provide greater harmonization between the Exchange and other markets
in the marking of orders, resulting in more uniform and efficient order
entry.
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
Because the 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) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of 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.
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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 shall 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
[[Page 15143]]
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-2016-42 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-NYSEARCA-2016-42. 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-NYSEARCA-2016-42 and should
be submitted on or before April 11, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-06239 Filed 3-18-16; 8:45 am]
BILLING CODE 8011-01-P
