Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Update Public Disclosure of Exchange Usage of Market Data, 26296-26298 [2016-10148]
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26296
Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices
(3) during a SNAP Cycle;
(4) within one minute after the
completion of the previous SNAP Cycle;
(5) if the CHX Routing Services are
not available at the time of the market
snapshot taken pursuant to be proposed
Rule 1A(b);
(6) if the NBBO ascertained from the
market snapshot taken pursuant to
proposed Rule 1A(b) is crossed or a twosided NBBO does not exist.
III. Discussion and Commission
Findings
After careful review and
consideration, the Commission finds
that the proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder that are applicable to a
national securities exchange.13 In
particular, the Commission finds that
the proposed rule change is consistent
with Section 6(b)(5) of the Act,14 which
requires, among other things, that the
rules of a national securities exchange
be designed to promote just and
equitable principles of trade; to remove
impediments to and perfect the
mechanism of a free and open market
and a national market system; and, in
general, to protect investors and the
public interest, and that the rules of a
national securities exchange not be
designed to permit unfair
discrimination between customers,
issuers, brokers or dealers.
When it approved the SNAP, the
Commission stated that it believed that
the SNAP: (1) Was reasonably designed
to facilitate the auction trading of
securities on CHX in a fair and orderly
manner, and could improve market
quality for market participants seeking
to execute bulk trading interests and for
other market participants submitting
orders in response to that interest; 15 and
(2) may promote liquidity while
minimizing potential information
leakage that could disadvantage market
participants whose orders are
participating in the SNAP Cycle.16 The
Commission believes that the Exchange-
initiated SNAP functionality may result
in more bulk executions in SNAPeligible securities by allowing—under
certain circumstances—SNAP AOOs
queued in the Matching System to
match in the absence of a valid Start
SNAP order. Additionally, the
Commission believes that the proposed
restrictions on when the Exchange may
initiate a SNAP Cycle are reasonably
designed to provide for a fair and
orderly market.
Further, the Commission believes that
the proposed rule change would further
minimize information leakage from
SNAP Cycles in that market participants
would not know which initiating
mechanism triggered a particular SNAP
Cycle.
For the above reasons, the
Commission finds that the proposed
rule change is consistent with the
requirements of the Act.
IV. Conclusion
It is therefore ordered that, pursuant
to Section 19(b)(2) of the Act,17 the
proposed rule change (SR–CHX–2016–
01) be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10152 Filed 4–29–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77707; File No. SR–Phlx–
2016–53]
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on April 21,
2016, NASDAQ PHLX LLC (‘‘Phlx’’ or
‘‘Exchange’’) 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
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 update
Exchange Rule 3304 and to amend the
public disclosure of the sources of data
that the Exchange utilizes when
performing (1) order handling and
execution; (2) order routing; and (3)
related compliance processes.
The text of the proposed rule change
is below. Proposed new language is
italicized and deleted language is
bracketed.
*
*
*
*
*
Rule 3304. Data Feeds Utilized
The PSX System utilizes the below
proprietary and network processor feeds
for the handling, routing, and execution
of orders, as well as for the regulatory
compliance processes related to those
functions. The Secondary Source of data
is, where applicable, utilized only in
emergency market conditions and only
until those emergency conditions are
resolved.
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Update
Public Disclosure of Exchange Usage
of Market Data
April 26, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
srobinson on DSK5SPTVN1PROD with NOTICES
Market center
Primary source
A—NYSE MKT (AMEX) ..........................................................
B—NASDAQ OMX BX ............................................................
C—NSX ...................................................................................
D—FINRA ADF .......................................................................
J—DirectEdge A ......................................................................
K—DirectEdge X .....................................................................
M—[CSX]CHX .........................................................................
N—NYSE ................................................................................
P—NYSE Arca ........................................................................
NYSE MKT OpenBook Ultra ..................................................
BX ITCH 5.0 ...........................................................................
CQS/UQDF .............................................................................
CQS/UQDF .............................................................................
BATS PITCH ..........................................................................
BATS PITCH ..........................................................................
[CQS/UQDF]CHX Book Feed ................................................
NYSE OpenBook Ultra ...........................................................
NYSE ARCA XDP ..................................................................
13 In approving this proposed rule change, as
amended, the Commission notes that it has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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14 15
U.S.C. 78f(b)(5).
Approval Order, supra note 5, 80 FR at
15 See
61544.
16 See id.
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
Secondary source
17 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
18 17
E:\FR\FM\02MYN1.SGM
02MYN1
CQS/UQDF.
CQS/UQDF.
n/a.
n/a.
CQS/UQDF.
CQS/UQDF.
[n/a] CQS/UQDF.
CQS/UQDF.
CQS/UQDF.
26297
Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices
Market center
Primary source
T/Q—NASDAQ ........................................................................
X—NASDAQ OMX PSX .........................................................
Y—BATS Y-Exchange ............................................................
Z—BATS Exchange ................................................................
ITCH 5.0 .................................................................................
PSX ITCH 5.0 .........................................................................
BATS PITCH ..........................................................................
BATS PITCH ..........................................................................
*
*
*
*
*
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqomxphlx.cchwall
street.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
srobinson on DSK5SPTVN1PROD with NOTICES
1. Purpose
The Exchange proposes to update and
amend the table in Exchange Rule 3304
that sets forth on a market-by-market
basis the specific network processor and
proprietary data feeds that the Exchange
utilizes for the handling, routing, and
execution of orders, and for performing
the regulatory compliance checks
related to each of those functions.
Specifically, the table will be
amended to update the symbol for the
Chicago Stock Exchange, Inc. from
‘‘CSX’’ to ‘‘CHX’’, as well as to update
the primary and secondary sources in
the table for CHX. The primary source
will be CHX Book Feed and the former
primary source, CQS/UQDF, will
become the secondary source. The
change to the primary source reflects the
Exchange’s effort to increase the amount
of data it gathers.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,3
in general and with Sections 6(b)(5) of
the Act,4 in particular in that it is
3 15
4 15
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
The Exchange believes that its
proposal to amend the table in Exchange
Rule 3304 to update the symbol for the
Chicago Stock Exchange, Inc. and to
amend the primary and secondary
sources of data for CHX that the
Exchange utilizes when performing (1)
order handling and execution; (2) order
routing; and (3) related compliance
processes will ensure that Exchange
Rule 3304 correctly identifies and
publicly states on a market-by-market
basis all of the specific network
processor and proprietary data feeds
that the Exchange utilizes for the
handling, routing, and execution of
orders, and for performing the
regulatory compliance checks related to
each of those functions. The Exchange
also believes that the proposed rule
change removes impediments to and
perfects the mechanism of a free and
open market and protects investors and
the public interest because it provides
additional specificity, clarity and
transparency.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
To the contrary, the Exchange believes
the proposal will enhance competition
because including all of the correct
information for the exchanges enhances
transparency and enables investors to
better assess the quality of the
Exchange’s execution and routing
services.
U.S.C. 78f.
U.S.C. 78f(b)(5).
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Frm 00100
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Sfmt 4703
Secondary source
CQS/UQDF.
CQS/UQDF.
CQS/UQDF.
CQS/UQDF.
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 5 and
subparagraph (f)(6) of Rule 19b–4
thereunder.6
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 rulecomments@sec.gov. Please include File
5 15
U.S.C. 78s(b)(3)(a)(iii).
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.
6 17
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26298
Federal Register / Vol. 81, No. 84 / Monday, May 2, 2016 / Notices
Number SR–Phlx–2016–53 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–2016–53. 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–
2016–53 and should be submitted on or
before May 23, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10148 Filed 4–29–16; 8:45 am]
BILLING CODE 8011–01–P
srobinson on DSK5SPTVN1PROD with NOTICES
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–0213
7 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
20:30 Apr 29, 2016
Jkt 238001
Extension: Rule 17Ad-10
SEC File No. 270–265, OMB Control No.
3235–0273
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the
Securities and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the existing collection of information
provided for in Rule 17Ad–10, (17 CFR
240.17Ad–10), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
seq.). The Commission plans to submit
this existing collection of information to
the Office of Management and Budget
(‘‘OMB’’) for extension and approval.
Rule 17Ad–10 generally requires
registered transfer agents to: (1) Create
and maintain current and accurate
securityholder records; (2) promptly and
accurately record all transfers,
purchases, redemptions, and issuances,
and notify their appropriate regulatory
agency if they are unable to do so; (3)
exercise diligent and continuous
attention in resolving record
inaccuracies; (4) disclose to the issuers
for whom they perform transfer agent
functions and to their appropriate
regulatory agency information regarding
record inaccuracies; (5) buy-in certain
record inaccuracies that result in a
physical over issuance of securities; and
(6) communicate with other transfer
agents related to the same issuer. These
requirements assist in the creation and
maintenance of accurate securityholder
records, enhance the ability to research
errors, and ensure the transfer agent is
aware of the number of securities that
are properly authorized by the issuer,
thereby avoiding over issuance.
The rule also has specific
recordkeeping requirements. It requires
registered transfer agents to retain
certificate detail that has been deleted
for six years and keep current an
accurate record of the number of shares
or principal dollar amount of debt
securities that the issuer has authorized
to be outstanding. These mandatory
requirements ensure accurate
securityholder records and assist the
Commission and other regulatory
agencies with monitoring transfer agents
and ensuring compliance with the rule.
This rule does not involve the collection
of confidential information.
There are approximately 413
registered transfer agents. We estimate
that the average number of hours
necessary for each transfer agent to
comply with Rule 17Ad–10 is
approximately 80 hours per year, which
generates an industry-wide annual
burden of 33,040 hours (413 times 80
hours). This burden is of a
recordkeeping nature but also includes
a small amount of third party disclosure
PO 00000
Frm 00101
Fmt 4703
Sfmt 9990
and SEC reporting burdens. At an
average staff cost of $50 per hour, the
industry-wide internal labor cost of
compliance (a monetization of the
burden hours) is approximately
$1,652,000 per year (33,040 × $50). In
addition, we estimate that each transfer
agent will incur an annual external cost
burden of $18,000 resulting from the
collection of information. Therefore, the
total annual external cost on the entire
transfer agent industry is approximately
$7,434,000 ($18,000 times 413). This
cost primarily reflects ongoing computer
operations and maintenance associated
with generating, maintaining, and
disclosing or providing certain
information required by the rule.
The amount of time any particular
transfer agent will devote to Rule 17Ad–
10 compliance will vary according to
the size and scope of the transfer agent’s
business activity. We note, however,
that at least some of the records,
processes, and communications
required by Rule 17Ad–10 would likely
be maintained, generated, and used for
transfer agent business purposes even
without the rule.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information collected; and (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
under the PRA unless it displays a
currently valid OMB control number.
Please direct your written comments
to: Pamela Dyson, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 100 F Street NE., Washington,
DC 20549, or send an email to: PRA_
Mailbox@sec.gov.
Dated: April 26, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–10108 Filed 4–29–16; 8:45 am]
BILLING CODE 8011–01–P
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]]>Agencies
[Federal Register Volume 81, Number 84 (Monday, May 2, 2016)]
[Notices]
[Pages 26296-26298]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-10148]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77707; File No. SR-Phlx-2016-53]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Update Public
Disclosure of Exchange Usage of Market Data
April 26, 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 21, 2016, NASDAQ PHLX LLC (``Phlx'' or ``Exchange'') 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 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 update Exchange Rule 3304 and to amend the
public disclosure of the sources of data that the Exchange utilizes
when performing (1) order handling and execution; (2) order routing;
and (3) related compliance processes.
The text of the proposed rule change is below. Proposed new
language is italicized and deleted language is bracketed.
* * * * *
Rule 3304. Data Feeds Utilized
The PSX System utilizes the below proprietary and network processor
feeds for the handling, routing, and execution of orders, as well as
for the regulatory compliance processes related to those functions. The
Secondary Source of data is, where applicable, utilized only in
emergency market conditions and only until those emergency conditions
are resolved.
------------------------------------------------------------------------
Market center Primary source Secondary source
------------------------------------------------------------------------
A--NYSE MKT (AMEX)........... NYSE MKT CQS/UQDF.
OpenBook Ultra.
B--NASDAQ OMX BX............. BX ITCH 5.0..... CQS/UQDF.
C--NSX....................... CQS/UQDF........ n/a.
D--FINRA ADF................. CQS/UQDF........ n/a.
J--DirectEdge A.............. BATS PITCH...... CQS/UQDF.
K--DirectEdge X.............. BATS PITCH...... CQS/UQDF.
M--[CSX]CHX.................. [CQS/UQDF]CHX [n/a] CQS/UQDF.
Book Feed.
N--NYSE...................... NYSE OpenBook CQS/UQDF.
Ultra.
P--NYSE Arca................. NYSE ARCA XDP... CQS/UQDF.
[[Page 26297]]
T/Q--NASDAQ.................. ITCH 5.0........ CQS/UQDF.
X--NASDAQ OMX PSX............ PSX ITCH 5.0.... CQS/UQDF.
Y--BATS Y-Exchange........... BATS PITCH...... CQS/UQDF.
Z--BATS Exchange............. BATS PITCH...... CQS/UQDF.
------------------------------------------------------------------------
* * * * *
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 Exchange proposes to update and amend the table in Exchange
Rule 3304 that sets forth on a market-by-market basis the specific
network processor and proprietary data feeds that the Exchange utilizes
for the handling, routing, and execution of orders, and for performing
the regulatory compliance checks related to each of those functions.
Specifically, the table will be amended to update the symbol for
the Chicago Stock Exchange, Inc. from ``CSX'' to ``CHX'', as well as to
update the primary and secondary sources in the table for CHX. The
primary source will be CHX Book Feed and the former primary source,
CQS/UQDF, will become the secondary source. The change to the primary
source reflects the Exchange's effort to increase the amount of data it
gathers.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general and with
Sections 6(b)(5) of the Act,\4\ in particular in that it is designed to
prevent fraudulent and manipulative acts and practices, to promote just
and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that its proposal to amend the table in
Exchange Rule 3304 to update the symbol for the Chicago Stock Exchange,
Inc. and to amend the primary and secondary sources of data for CHX
that the Exchange utilizes when performing (1) order handling and
execution; (2) order routing; and (3) related compliance processes will
ensure that Exchange Rule 3304 correctly identifies and publicly states
on a market-by-market basis all of the specific network processor and
proprietary data feeds that the Exchange utilizes for the handling,
routing, and execution of orders, and for performing the regulatory
compliance checks related to each of those functions. The Exchange also
believes that the proposed rule change removes impediments to and
perfects the mechanism of a free and open market and protects investors
and the public interest because it provides additional specificity,
clarity and transparency.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. To
the contrary, the Exchange believes the proposal will enhance
competition because including all of the correct information for the
exchanges enhances transparency and enables investors to better assess
the quality of the Exchange's execution and routing services.
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 \5\ and
subparagraph (f)(6) of Rule 19b-4 thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(a)(iii).
\6\ 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
[[Page 26298]]
Number SR-Phlx-2016-53 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-2016-53. 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-2016-53 and should be
submitted on or before May 23, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-10148 Filed 4-29-16; 8:45 am]
BILLING CODE 8011-01-P
