Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule, 37219-37220 [2016-13612]

Download as PDF Federal Register / Vol. 81, No. 111 / Thursday, June 9, 2016 / Notices information in its possession that RRB may require for the purposes of making a timely determination of the amount of reduction under section 224 of the Social Security Act. Pursuant to 5 U.S.C. Section 552a(b)(3) OPM has established routine uses to disclose the subject information to RRB. D. Categories of Individuals Covered Individuals receiving Federal public pensions or RRB annuities. E. Categories of Records Covered OPM will provide the RRB once a year via secure electronic file transfer, data extracted from its annuity and survivor master file of its Civil Service Retirement and Insurance Records. Normally on December of each year, OPM transmits to us approximately 2.5 million electronic records for matching. The records contain these data elements: Name, Social Security number, date of birth, civil service claim number, first potential month and year of eligibility for civil service benefits, first month, day, year of entitlement to civil service benefits, amount of current gross civil service benefits, and effective date (month, day, year) of civil service amount, and where applicable, civil service disability indicator, civil service FICA covered month indicator, and civil service total service months. The RRB will match the Social Security number, name, and date of birth contained in the OPM file against approximately the 1.2 million records in our files. For records that match, the RRB will extract the civil service payment information. F. Systems of Records Covered sradovich on DSK3TPTVN1PROD with NOTICES The Privacy Act System of Records designation is OPM/Central-1, (Civil Service Retirement and Insurance Records), Published in the Federal Register on June 7, 2011 (76 FR 32997). The RRB Privacy Act System of Records is RRB–22, Railroad Retirement, Survivor, and Pensioner Benefit System, published in the Federal Register on May 15, 2015 (80 FR 28018). Dated: June 6, 2016. By authority of the Board. Martha P. Rico, Secretary to the Board. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77989; File No. SR–MIAX– 2016–13] Self-Regulatory Organizations; Miami International Securities Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule June 3, 2016. Pursuant to the provisions of 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 June 1, 2016, Miami International Securities Exchange LLC (‘‘MIAX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a 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 is filing a proposal to amend the MIAX Options Fee Schedule (the ‘‘Fee Schedule’’). The text of the proposed rule change is available on the Exchange’s Web site at https://www.miaxoptions.com/filter/ wotitle/rule_filing, at MIAX’s principal office, 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. [FR Doc. 2016–13643 Filed 6–8–16; 8:45 am] A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change BILLING CODE 7905–01–P 1. Purpose The Exchange proposes to amend its Fee Schedule to offer a Technical Support Request Fee to both Members and Non-Members. The Exchange has an infrastructure comprised of low latency and ultra-low latency proximity solutions in several offsite data center locales offering universal access to all Exchange services via a single common connection across a variety of high speed network interfaces. The Exchange offers connectivity in and between its data center facilities and supports direct attachment of all network equipment or direct attached host systems of both Member and NonMember users of the Exchange. Member and Non-Member users of the Exchange are strongly encouraged to establish connectivity to at least two data centers to minimize the possibility of service disruption. The Exchange proposes to add new Section (5)(f) to the Fee Schedule to establish a Member and Non-Member Technical Support Request Fee. Specifically, the Exchange proposes to charge Members and Non-Members an hourly fee in the event that such Member or Non-Member requests the Exchange to use the Exchange’s on-site data center personnel to provide technical support at any of the Exchange’s data centers. The Exchange proposes to assess Members and NonMembers that request MIAX technical support at any of the MIAX data centers a fee of $200 per hour for such technical support. The purpose of the proposed rule change is to make the Exchange’s on-site data center personnel available, for a fee, to Members and Non-Members when assisting with troubleshooting that requires a physical on-site presence. The proposed Technical Support Request fee is scheduled to become effective June 1, 2016. 2. Statutory Basis The Exchange believes that its proposal to amend its Fee Schedule is consistent with Section 6(b) of the Act 3 in general, and furthers the objectives of Section 6(b)(4) of the Act 4 in particular, in that it is an equitable allocation of reasonable fees and other charges among Exchange members and issuers and other persons using its facilities. The Exchange believes that the proposed new service is consistent with Section 6(b)(5) of the Act 5 in that it is fair, equitable and not unreasonably discriminatory, because it is available to all Members and Non-Members for the 3 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 5 15 U.S.C. 78f(b)(5). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Sep<11>2014 15:50 Jun 08, 2016 Jkt 238001 PO 00000 Frm 00043 Fmt 4703 4 15 Sfmt 4703 37219 E:\FR\FM\09JNN1.SGM 09JNN1 37220 Federal Register / Vol. 81, No. 111 / Thursday, June 9, 2016 / Notices same fee. Moreover, the proposed fee is reasonable because other exchanges charge for similar services at their data centers.6 Additionally, Members and NonMembers are not required to use the service but instead it is offered as a convenience to all Members and NonMembers. The proposed fee is reasonably designed because it will permit both Members and Non-Members to request the use of the Exchange’s onsite data center personnel as technical support and as a convenience that is equally available to them. B. Self-Regulatory Organization’s Statement on Burden on Competition sradovich on DSK3TPTVN1PROD with NOTICES 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. The proposed enhancement of services by the Exchange provided to its Members and others using its facilities will not have an impact on competition. In fact, MIAX’s proposed technical support services at a Member or Non-Member’s request will benefit all who use such services. As stated above, other exchanges charge for similar services at their data centers.7 The Exchange’s hourly rate for such services is within the range of prices for similar services offered by other exchanges, and therefore the Exchange believes that the proposed hourly rate for technical support does not impose a burden on competition.8 The Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues if they deem fee levels at a particular venue to be excessive. In such an environment, the Exchange must continually adjust its fees and rebates to remain competitive with other exchanges and to attract order flow to the Exchange. The Exchange believes that the proposed 6 See Chicago Board Options Exchange, Incorporated (‘‘CBOE’’) Fees Schedule, p. 9. CBOE charges $100 per hour for technical support outside normal hours and for after-hours technician services with a four hour minimum required. See also NYSE Amex Options (‘‘Amex’’) Fee Schedule, Section V(B) and NYSE Arca Options (‘‘Arca’’) Fees and Charges, p. 18. Both Amex and Arca charge $100 per half hour for ‘‘Hot Hands Services,’’ which consists of allowing Amex and Arca Users to use Amex or Arca on-site data center personnel to maintain User equipment, support network troubleshooting, rack and stack, power recycling and install and document cable. See also NASDAQ PHLX LLC (‘‘Phlx’’) Pricing Schedule, Section X(d). Phlx charges $150 per hour for ‘‘Remote Hands Service’’ and $250 per hour plus materials if necessary for ‘‘Power Consulting Services.’’ 7 Id. 8 See id. VerDate Sep<11>2014 15:50 Jun 08, 2016 Jkt 238001 rule change reflects this competitive environment because the hourly rate is competitive with the rates offered by other exchanges for similar services.9 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act,10 and Rule 19b–4(f)(2) 11 thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission 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– MIAX–2016–13 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–MIAX–2016–13. 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 9 See supra note 6. U.S.C. 78s(b)(3)(A)(ii). 11 17 CFR 240.19b–4(f)(2). 10 15 PO 00000 Frm 00044 Fmt 4703 Sfmt 4703 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–MIAX– 2016–13, and should be submitted on or beforeJune 30, 2016 June 30, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.12 Brent J. Fields, Secretary. [FR Doc. 2016–13612 Filed 6–8–16; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–77988; File No. SR–FICC– 2016–001] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Order Approving Proposed Rule Change Relating to the GCF Repo® Service June 3, 2016. On April 19, 2016, the Fixed Income Clearing Corporation (‘‘FICC’’ or the ‘‘Corporation’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–FICC–2016–001 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder.2 The proposed rule change was published for comment in the Federal Register on April 27, 2016.3 The Commission received no comments on the proposed rule change. For the 12 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 Securities Exchange Act Release No. 34–77675 (April 21, 2016), 81 FR 24922 (April 27, 2016) (SR– FICC–2016–001). 1 15 E:\FR\FM\09JNN1.SGM 09JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 81, Number 111 (Thursday, June 9, 2016)]
[Notices]
[Pages 37219-37220]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-13612]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77989; File No. SR-MIAX-2016-13]


Self-Regulatory Organizations; Miami International Securities 
Exchange LLC; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend Its Fee Schedule

June 3, 2016.
    Pursuant to the provisions of 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 June 1, 2016, Miami International Securities 
Exchange LLC (``MIAX'' or ``Exchange'') filed with the Securities and 
Exchange Commission (``Commission'') a 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 is filing a proposal to amend the MIAX Options Fee 
Schedule (the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's 
Web site at https://www.miaxoptions.com/filter/wotitle/rule_filing, at 
MIAX's principal office, 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to amend its Fee Schedule to offer a 
Technical Support Request Fee to both Members and Non-Members.
    The Exchange has an infrastructure comprised of low latency and 
ultra-low latency proximity solutions in several offsite data center 
locales offering universal access to all Exchange services via a single 
common connection across a variety of high speed network interfaces.
    The Exchange offers connectivity in and between its data center 
facilities and supports direct attachment of all network equipment or 
direct attached host systems of both Member and Non-Member users of the 
Exchange. Member and Non-Member users of the Exchange are strongly 
encouraged to establish connectivity to at least two data centers to 
minimize the possibility of service disruption.
    The Exchange proposes to add new Section (5)(f) to the Fee Schedule 
to establish a Member and Non-Member Technical Support Request Fee. 
Specifically, the Exchange proposes to charge Members and Non-Members 
an hourly fee in the event that such Member or Non-Member requests the 
Exchange to use the Exchange's on-site data center personnel to provide 
technical support at any of the Exchange's data centers. The Exchange 
proposes to assess Members and Non-Members that request MIAX technical 
support at any of the MIAX data centers a fee of $200 per hour for such 
technical support.
    The purpose of the proposed rule change is to make the Exchange's 
on-site data center personnel available, for a fee, to Members and Non-
Members when assisting with troubleshooting that requires a physical 
on-site presence.
    The proposed Technical Support Request fee is scheduled to become 
effective June 1, 2016.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Fee Schedule 
is consistent with Section 6(b) of the Act \3\ in general, and furthers 
the objectives of Section 6(b)(4) of the Act \4\ in particular, in that 
it is an equitable allocation of reasonable fees and other charges 
among Exchange members and issuers and other persons using its 
facilities.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes that the proposed new service is consistent 
with Section 6(b)(5) of the Act \5\ in that it is fair, equitable and 
not unreasonably discriminatory, because it is available to all Members 
and Non-Members for the

[[Page 37220]]

same fee. Moreover, the proposed fee is reasonable because other 
exchanges charge for similar services at their data centers.\6\
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b)(5).
    \6\ See Chicago Board Options Exchange, Incorporated (``CBOE'') 
Fees Schedule, p. 9. CBOE charges $100 per hour for technical 
support outside normal hours and for after-hours technician services 
with a four hour minimum required. See also NYSE Amex Options 
(``Amex'') Fee Schedule, Section V(B) and NYSE Arca Options 
(``Arca'') Fees and Charges, p. 18. Both Amex and Arca charge $100 
per half hour for ``Hot Hands Services,'' which consists of allowing 
Amex and Arca Users to use Amex or Arca on-site data center 
personnel to maintain User equipment, support network 
troubleshooting, rack and stack, power recycling and install and 
document cable. See also NASDAQ PHLX LLC (``Phlx'') Pricing 
Schedule, Section X(d). Phlx charges $150 per hour for ``Remote 
Hands Service'' and $250 per hour plus materials if necessary for 
``Power Consulting Services.''
---------------------------------------------------------------------------

    Additionally, Members and Non-Members are not required to use the 
service but instead it is offered as a convenience to all Members and 
Non-Members. The proposed fee is reasonably designed because it will 
permit both Members and Non-Members to request the use of the 
Exchange's on-site data center personnel as technical support and as a 
convenience that is equally available to them.

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. The proposed 
enhancement of services by the Exchange provided to its Members and 
others using its facilities will not have an impact on competition. In 
fact, MIAX's proposed technical support services at a Member or Non-
Member's request will benefit all who use such services. As stated 
above, other exchanges charge for similar services at their data 
centers.\7\ The Exchange's hourly rate for such services is within the 
range of prices for similar services offered by other exchanges, and 
therefore the Exchange believes that the proposed hourly rate for 
technical support does not impose a burden on competition.\8\
---------------------------------------------------------------------------

    \7\ Id.
    \8\ See id.
---------------------------------------------------------------------------

    The Exchange notes that it operates in a highly competitive market 
in which market participants can readily favor competing venues if they 
deem fee levels at a particular venue to be excessive. In such an 
environment, the Exchange must continually adjust its fees and rebates 
to remain competitive with other exchanges and to attract order flow to 
the Exchange. The Exchange believes that the proposed rule change 
reflects this competitive environment because the hourly rate is 
competitive with the rates offered by other exchanges for similar 
services.\9\
---------------------------------------------------------------------------

    \9\ See supra note 6.
---------------------------------------------------------------------------

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act,\10\ and Rule 19b-4(f)(2) \11\ thereunder. 
At any time within 60 days of the filing of the proposed rule change, 
the Commission summarily may temporarily suspend such rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act. If the Commission takes such 
action, the Commission shall institute proceedings to determine whether 
the proposed rule should be approved or disapproved.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-MIAX-2016-13 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-MIAX-2016-13. 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-MIAX-2016-13, and should be 
submitted on or beforeJune 30, 2016 June 30, 2016.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-13612 Filed 6-8-16; 8:45 am]
 BILLING CODE 8011-01-P

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