Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule ChangeTo Amend Rule 1064, 21631-21632 [2016-08305]
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Federal Register / Vol. 81, No. 70 / Tuesday, April 12, 2016 / Notices
compliance with the applicable listing
requirements, the Exchange will
commence delisting procedures under
the Nasdaq 5800 Series. This approval
order is based on all of the Exchange’s
representations, including those set
forth above, in the Notice, and in
Amendment Nos. 1, 2, and 3 to the
proposed rule change. The Commission
notes that the Funds and the Shares
must comply with the requirements of
Nasdaq Rule 5735, including those set
forth in this proposed rule change, as
modified by Amendment Nos. 1, 2, and
3 thereto, to be listed and traded on the
Exchange on an initial and continuing
basis.
For the foregoing reasons, the
Commission finds that the proposed
rule change, as modified by Amendment
Nos. 1, 2, and 3 thereto, is consistent
with Section 6(b)(5) of the Act 43 and the
rules and regulations thereunder
applicable to a national securities
exchange.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Exchange Act,44
that the proposed rule change (SR–
NASDAQ–2015–161), as modified by
Amendment Nos. 1, 2, and 3 thereto, be,
and it hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.45
Robert W. Errett,
Deputy Secretary.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77545; File No. SR–Phlx–
2016–44]
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule ChangeTo Amend Rule
1064
April 6, 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 April 1,
2016, NASDAQ 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to delete two
incorrect cross-references in Rule 1064,
Crossing, Facilitation and Solicited
Orders.
The text of the proposed rule change
is detailed below: Proposed new
language is in italics and proposed
deletions are in brackets.
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*
NASDAQ PHLX Rules
[FR Doc. 2016–08307 Filed 4–11–16; 8:45 am]
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BILLING CODE 8011–01–P
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Options Rules
Rules Applicable To Trading of Options
on Stocks, Exchange-Traded Fund
Shares and Foreign Currencies (Rules
1000–1095)
asabaliauskas on DSK3SPTVN1PROD with NOTICES
*
Fund Shares include a representation that the
exchange will ‘‘surveil’’ for compliance with the
continued listing requirements. See, e.g.,
Amendment No. 2 to SR–BATS–2016–04, available
at: https://www.sec.gov/comments/sr-bats-2016-04/
bats201604-2.pdf. In the context of this
representation, it is the Commission’s view that
‘‘monitor’’ and ‘‘surveil’’ both mean ongoing
oversight of the Fund’s compliance with the
continued listing requirements. Therefore, the
Commission does not view ‘‘monitor’’ as a more or
less stringent obligation than ‘‘surveil’’ with respect
to the continued listing requirements.
43 15 U.S.C. 78f(b)(5).
44 15 U.S.C. 78s(b)(2).
45 17 CFR 200.30–3(a)(12).
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Rule 1064. Crossing, Facilitation and
Solicited Orders
(a)–(c) No change.
(d) No change.
(i)–(ii) No change.
(iii) No change.
(A)–(F) No change.
(G) prior to entering tied hedge orders
on behalf of customers, the member or
member organization must deliver to the
customer a written notification
informing the customer that his order
may be executed using the Exchange’s
tied hedge procedures. The written
notification must disclose the terms and
conditions contained [in this
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00099
Fmt 4703
Sfmt 4703
21631
Commentary] herein and be in a form
approved by the Exchange. A
combination option and hedging
position offered in reliance on this
[Commentary .04] provision shall be
referred to as a ‘‘tied hedge’’ order.
(H)–(I) No change.
(e) No change.
• • • Commentary: -----------------.01–.02 No change.
*
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*
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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 correct
Rule 1064 by deleting two references to
the ‘‘commentary’’ to the rule, which no
longer exists. The Exchange recently
deleted Commentary .04 3 by
incorporating its provisions into
paragraph (d)(iii), because it was related
to the anticipatory hedging provisions
in paragraph (d). The Exchange
inadvertently omitted the deletion of
these two references to Commentary .04
in new Rule 1064(d)(iii)(G).
Accordingly, this provision refers to a
commentary that does not exist.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 4 in general, and furthers the
objectives of Section 6(b)(5) of the Act 5
in particular, in that it is designed to
promote just and equitable principles of
trade and to protect investors and the
public interest by correcting a provision,
which should help prevent confusion
and ensure the accuracy of the rulebook.
3 Securities Exchange Act Release No. 76984
(January 28, 2016), 81 FR 5796 (February 3, 2016)
(SR–Phlx–2016–07).
4 15 U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(5).
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21632
Federal Register / Vol. 81, No. 70 / Tuesday, April 12, 2016 / Notices
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. This minor
correction does not impact 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 6 and
subparagraph (f)(6) of Rule 19b-4
thereunder.7
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.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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–2016–44 on the subject line.
U.S.C. 78s(b)(3)(a)(iii).
CFR 240.19b–4(f)(6). In addition, Rule 19b4(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.
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–2016–44. 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–
2016–44 and should be submitted on or
before May 3, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–08305 Filed 4–11–16; 8:45 am]
BILLING CODE 8011–01–P
Jkt 238001
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Order Approving
Proposed Rule Change, as Modified by
Amendment No. 1 Thereto, To Adopt
an Early Trading Session and Three
New Time-In-Force Instructions
April 6, 2016.
I. Introduction
On February 2, 2016, EDGX Exchange,
Inc. (the ‘‘Exchange’’ or ‘‘EDGX’’) filed
with the Securities and Exchange
Commission (the ‘‘Commission’’),
pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3 a
proposed rule change to amend its rules
to: (i) Create a new trading session to be
known as the Early Trading Session,
which will run from 7:00 a.m. to 8:00
a.m. Eastern Time; and (ii) adopt three
new Time-in-Force (‘‘TIF’’) instructions.
On February 12, 2016, the Exchange
filed Amendment No. 1 to the proposed
rule change.4 The proposed rule change,
as modified by Amendment No. 1
thereto, was published for comment in
the Federal Register on February 22,
2016.5 The Commission received no
comments on the proposed rule change.
This order approves the proposed rule
change, as modified by Amendment No.
1.
II. Description of the Proposal
The Exchange proposes to amend its
rules to: (i) Create a new trading session,
the Early Trading Session, which will
run from 7:00 a.m. to 8:00 a.m. Eastern
Time; and (ii) adopt three new TIF
instructions.6
A. Early Trading Session
The Exchange trading day is currently
divided into three sessions: (i) The PreOpening Session which starts at 8:00
a.m. and ends at 9:30 a.m. Eastern Time;
(ii) Regular Trading Hours which runs
from 9:30 a.m. to 4:00 p.m. Eastern
Time; and (iii) the Post-Closing Session,
which runs from 4:00 p.m. to 8:00 p.m.
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
4 In Amendment No. 1, the Exchange noted that
it would subject orders that are eligible for
execution at the start of the Pre-Opening Session to
all of the Exchange’s standard regulatory checks,
including compliance with Regulation NMS,
Regulation SHO as well as other relevant Exchange
rules.
5 See Securities Exchange Act Release No. 77142
(February 16, 2016), 81 FR 8806 (‘‘Notice’’).
6 See Notice, supra note 5.
2 15
7 17
17:18 Apr 11, 2016
[Release No. 34–77538; File No. SR–EDGX–
2016–06]
1 15
6 15
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COMMISSION
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]]>Agencies
[Federal Register Volume 81, Number 70 (Tuesday, April 12, 2016)]
[Notices]
[Pages 21631-21632]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-08305]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77545; File No. SR-Phlx-2016-44]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule ChangeTo Amend Rule 1064
April 6, 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 April 1, 2016, NASDAQ 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to delete two incorrect cross-references in
Rule 1064, Crossing, Facilitation and Solicited Orders.
The text of the proposed rule change is detailed below: Proposed
new language is in italics and proposed deletions are in brackets.
* * * * *
NASDAQ PHLX Rules
* * * * *
Options Rules
Rules Applicable To Trading of Options on Stocks, Exchange-Traded Fund
Shares and Foreign Currencies (Rules 1000-1095)
* * * * *
Rule 1064. Crossing, Facilitation and Solicited Orders
(a)-(c) No change.
(d) No change.
(i)-(ii) No change.
(iii) No change.
(A)-(F) No change.
(G) prior to entering tied hedge orders on behalf of customers, the
member or member organization must deliver to the customer a written
notification informing the customer that his order may be executed
using the Exchange's tied hedge procedures. The written notification
must disclose the terms and conditions contained [in this Commentary]
herein and be in a form approved by the Exchange. A combination option
and hedging position offered in reliance on this [Commentary .04]
provision shall be referred to as a ``tied hedge'' order.
(H)-(I) No change.
(e) No change.
Commentary: ------------------
.01-.02 No change.
* * * * *
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 correct Rule 1064 by deleting two
references to the ``commentary'' to the rule, which no longer exists.
The Exchange recently deleted Commentary .04 \3\ by incorporating its
provisions into paragraph (d)(iii), because it was related to the
anticipatory hedging provisions in paragraph (d). The Exchange
inadvertently omitted the deletion of these two references to
Commentary .04 in new Rule 1064(d)(iii)(G). Accordingly, this provision
refers to a commentary that does not exist.
---------------------------------------------------------------------------
\3\ Securities Exchange Act Release No. 76984 (January 28,
2016), 81 FR 5796 (February 3, 2016) (SR-Phlx-2016-07).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \4\ in general, and furthers the objectives of Section
6(b)(5) of the Act \5\ in particular, in that it is designed to promote
just and equitable principles of trade and to protect investors and the
public interest by correcting a provision, which should help prevent
confusion and ensure the accuracy of the rulebook.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
[[Page 21632]]
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. This minor correction does not
impact 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 \6\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(a)(iii).
\7\ 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-2016-44 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-2016-44. 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-2016-44 and should be
submitted on or before May 3, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-08305 Filed 4-11-16; 8:45 am]
BILLING CODE 8011-01-P
