Sunshine Act Meeting; Cancellation, 23529 [2016-09355]
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Federal Register / Vol. 81, No. 77 / Thursday, April 21, 2016 / Notices
due, fee, or other charge imposed by the
Exchange under Section 19(b)(3)(A)(ii)
of the Act 3 and Rule 19b–4(f)(2)
thereunder,4 which renders the
proposed rule change effective upon
filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
FOR FURTHER INFORMATION CONTACT:
Direct questions regarding the service
contract inventory to Vance Cathell,
Director Office of Acquisitions
202.551.8385 or CathellV@sec.gov.
Dated: April 15, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–09202 Filed 4–20–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT:
PREVIOUSLY ANNOUNCED TIME AND DATE OF
THE MEETING: Thursday, April 21, 2016
at 2:00 p.m.
The Closed
Meeting scheduled for Thursday, April
21, 2016 at 2:00 p.m., has been
cancelled.
CHANGES IN THE MEETING:
CONTACT PERSON FOR MORE INFORMATION:
For further information and to ascertain
what, if any, matters have been added,
deleted or postponed, please contact the
Office of the Secretary at (202) 551–
5400.
Dated: April 18, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–09355 Filed 4–19–16; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77631; File No. SR–
BatsEDGX–2016–09]
Self-Regulatory Organizations; Bats
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change Related to Fees
as They Apply to the Equities Options
Platform
jstallworth on DSK7TPTVN1PROD with NOTICES
April 15, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 7,
2016, Bats EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
below, which Items have been prepared
by the Exchange. The Exchange has
designated the proposed rule change as
one establishing or changing a member
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Sep<11>2014
13:27 Apr 20, 2016
Jkt 238001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange filed a proposal to
amend the fee schedule applicable to
Members 5 and non-members of the
Exchange pursuant to Exchange Rules
15.1(a) and (c).
The text of the proposed rule change
is available at the Exchange’s Web site
at www.batstrading.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 parts of such
statements.
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend its
fee schedule for its equity options
platform (‘‘EDGX Options’’) to add a
new tier to its existing tiered pricing
structure, as further described below.6
The Exchange currently offers two
pricing tiers under footnotes 1 and 2 of
the fee schedule, Customer Volume
Tiers and Market Maker Volume Tiers,
respectively. Under the tiers, Members
that achieve certain volume criteria may
qualify for reduced fees or enhanced
3 15
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
5 The term ‘‘Member’’ is defined as ‘‘any
registered broker or dealer that has been admitted
to membership in the Exchange.’’ See Exchange
Rule 1.5(n).
6 The Exchange initially filed the proposed
change on April 1, 2016 (SR–BatsEDGX–2016–08).
On April 7, 2016, the Exchange withdrew SR–
BatsEDGX–2016–08 and submitted this filing).
4 17
PO 00000
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23529
rebates for Customer 7 and Market
Maker 8 orders. The Exchange proposes
to add an additional Customer Volume
Tier to footnote 1.
Fee code PC and NC are currently
appended to all Customer orders in
Penny Pilot Securities 9 and Non-Penny
Pilot Securities,10 respectively and
result in a standard rebate of $0.01 per
contract. The Customer Volume Tiers in
footnote 1 consist of five separate tiers,
each providing an enhanced rebate to a
Member’s Customer orders that yield fee
codes PC or NC upon satisfying monthly
volume criteria required by the
respective tier. For instance, pursuant to
Customer Volume Tier 1, the lowest
volume tier, a Member will receive a
rebate of $0.05 per contract where the
Member has an ADV 11 in Customer
orders equal to or greater than 0.10% of
average TCV.12 Pursuant to Customer
Volume Tier 5, the highest volume tier,
a Member will receive a rebate of $0.25
per contract where the Member has an
ADV in Customer orders equal to or
greater than 0.80% of average TCV. To
encourage the entry of additional orders
to EDGX Options, the Exchange
proposes to adopt a new Tier 6 with
different qualifying criteria.
Specifically, under new Tier 6, the
Exchange proposes to provide a rebate
of $0.21 per contract where: (1) The
Member has an ADV in Customer orders
equal to or greater than 0.25% of
average TCV; and (2) the Member has an
ADV in Market Maker Orders equal to
or greater than 0.25% of average TCV.
The Exchange notes that the rebate of
$0.21 per contract is the same rebate as
Tier 4, which is provided where the
Member has an ADV in Customer orders
equal to or greater than 0.50% of
average TCV. By introducing Tier 6, the
7 The term ‘‘Customer’’ applies to any transaction
identified by a Member for clearing in the Customer
range at the Options Clearing Corporation (‘‘OCC’’),
excluding any transaction for a Broker Dealer or a
‘‘Professional’’ as defined in Exchange Rule 16.1.
8 The term ‘‘Market Maker’’ applies to any
transaction identified by a Member for clearing in
the Market Maker range at the OCC, where such
Member is registered with the Exchange as a Market
Maker as defined in Rule 16.1(a)(37).
9 The term ‘‘Penny Pilot Security’’ applies to
those issues that are quoted pursuant to Exchange
Rule 21.5, Interpretation and Policy .01.
10 The term ‘‘Non-Penny Pilot Security’’ applies
to those issues that are not Penny Pilot Securities
quoted pursuant to Exchange Rule 21.5,
Interpretation and Policy .01.
11 ‘‘ADV’’ means average daily volume calculated
as the number of contracts added or removed,
combined, per day.
12 ‘‘TCV’’ means total consolidated volume
calculated as the volume reported by all exchanges
to the consolidated transaction reporting plan for
the month for which the fees apply, excluding
volume on any day that the Exchange experiences
an Exchange System Disruption and on any day
with a scheduled early market close.
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[Federal Register Volume 81, Number 77 (Thursday, April 21, 2016)]
[Notices]
[Page 23529]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-09355]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting; Cancellation
FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT:
PREVIOUSLY ANNOUNCED TIME AND DATE OF THE MEETING: Thursday, April 21,
2016 at 2:00 p.m.
CHANGES IN THE MEETING: The Closed Meeting scheduled for Thursday,
April 21, 2016 at 2:00 p.m., has been cancelled.
CONTACT PERSON FOR MORE INFORMATION: For further information and to
ascertain what, if any, matters have been added, deleted or postponed,
please contact the Office of the Secretary at (202) 551-5400.
Dated: April 18, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-09355 Filed 4-19-16; 11:15 am]
BILLING CODE 8011-01-P
