Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule, 53184-53186 [2016-19055]
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53184
Federal Register / Vol. 81, No. 155 / Thursday, August 11, 2016 / Notices
Specifically, the Exchange does not
believe that proposed Rule 49(a) needs
to be limited to what is currently
defined as an ‘‘Emergency Condition’’ or
be invoked for only ten days because the
proposed rule would be invoked as part
of a robust business continuity and
disaster recovery plan in the event of a
wide-scale disruption, as required by
Rule 1001(a)(2)(v) of Regulation SCI.24
For similar reasons, the Exchange does
not believes that proposed Rule 49
needs separate provisions specifying
notice requirements to the Commission
because these are now required by Rule
1002(b) of Regulation SCI.25
Finally, the Exchange believes that
moving the text of current Rule 438 to
proposed Rule 49(b)(N), and renaming
Rule 49 as ‘‘Exchange Business
Continuity and Disaster Recovery Plans
and Mandatory Testing,’’ would remove
impediments to and perfect the
mechanism of a free and open market
and a national market system because it
would consolidate into a single rule
related content, i.e., the Exchange’s
proposed disaster recovery plan and
mandatory testing requirements related
to such plan. Thus, the proposed rule
change would make the Exchange’s
rules easier to navigate for Exchange
members, the Commission, and the
public.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
B. Self-Regulatory Organization’s
Statement on Burden on Competition
• 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–NYSE–2016–48. 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
sradovich on DSK3GMQ082PROD with NOTICES
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 designed to
facilitate trading in Exchange-listed
securities on its Disaster Recovery
Facility. As such, the Exchange believes
that the proposed rule change would
promote competition for the benefit of
market participants and investors
generally because it provides
transparency in Exchange rules of
which rules would govern trading in
Exchange-traded securities if they trade
on the Exchange’s Disaster Recovery
Facility.
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.
24 17
CFR 242.1001(a)(2)(v).
25 17 CFR 242.1002(b).
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17:44 Aug 10, 2016
Jkt 238001
Within 45 days of the date of
publication of this notice in the Federal
Register or up to 90 days (i) as the
Commission may designate if it finds
such longer period to be appropriate
and publishes its reasons for so finding
or (ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve or disapprove
the proposed rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
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–
NYSE–2016–48 on the subject line.
Paper Comments
Frm 00067
Fmt 4703
Sfmt 4703
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.26
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2016–19054 Filed 8–10–16; 8:45 am]
BILLING CODE 8011–01–P
IV. Solicitation of Comments
PO 00000
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–NYSE–
2016–48, and should be submitted on or
before September 1, 2016.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78485; File No. SR–
NYSEArca–2016–115]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the NYSE Arca
Options Fee Schedule
August 5, 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 August
1, 2016, NYSE Arca, Inc. (‘‘NYSE Arca’’
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 to amend
the NYSE Arca Options Fee Schedule.
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,
26 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\11AUN1.SGM
11AUN1
Federal Register / Vol. 81, No. 155 / Thursday, August 11, 2016 / Notices
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
sradovich on DSK3GMQ082PROD with NOTICES
1. Purpose
The purpose of this filing is to amend
the Fee Schedule effective August 1,
2016. Specifically, the Exchange
proposes to modify the qualification for
Tier C of Customer and Professional
Customer Posting Credit Tiers in NonPenny Pilot Issues (the ‘‘Posting Credit
Tiers’’), as described below.
The Customer Posting Credit Tiers
consists of a Base Tier and Tiers A, B
and C, which provide for specified
credits if specified volume thresholds
have been met.3 Currently, Tier C of the
Posting Credit Tiers provides a $0.90
per contract credit to OTP Holders and
OTP Firms (collectively, ‘‘OTPs’’) that
meet or exceed a qualification basis of
at least 1.50% of Total Industry
Customer equity and ETF option ADV
(‘‘TCADV’’) from Customer and
Professional Customer Posted Orders in
all Issues, of which at least 0.40% of
TCADV is from Customer and
Professional Customer Posted Orders in
non-Penny Pilot Issues.
The Exchange is proposing to modify
the qualification for Tier C by
maintaining the requirement of at least
1.50% of TCADV from Customer and
Professional Customer Posted Orders in
all Issues, but reducing the portion of
TCADV from Customer and Professional
Customer Posted Orders in non-Penny
Pilot Issues from 0.40% to 0.30%. The
Exchange believes that reducing the
required portion of posted orders in
non-Penny Pilot issues while
maintaining the overall volume
threshold to qualify for Tier C would
make the Tier (and related credit) more
achievable given that the vast majority
of options issues traded on the
Exchange are in Penny Pilot Issues. The
Exchange believes that the modification
to make Tier C more achievable would
provide additional incentive to OTPs to
direct Customer (and Professional
Customer) order flow to the Exchange,
which benefits all market participants
3 The Exchange notes that there is a posting credit
of $0.75 associated with a Base Tier for which there
is no volume requirement.
VerDate Sep<11>2014
17:44 Aug 10, 2016
Jkt 238001
through increased liquidity and
enhanced price discovery.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,4 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,5 in particular,
because it provides for the equitable
allocation of reasonable dues, fees, and
other charges among its members,
issuers and other persons using its
facilities and does not unfairly
discriminate between customers,
issuers, brokers or dealers.
The Exchange believes that the
proposed modification to Tier C is
reasonable, equitable, and not unfairly
discriminatory because it would be
available to all OTPs that execute posted
electronic Customer (and Professional
Customer) orders on the Exchange on an
equal and non-discriminatory basis. The
Exchange believes that modifying Tier C
to reduce the portion of posted orders in
non-Penny Pilot issues required to
qualify for the Tier is equitable and not
unfairly discriminatory because the
change would enable more OTPs to
qualify for the credit, which in turn,
could reduce OTPs overall transaction
costs on the Exchange. Moreover, the
Exchange believes the proposed
modifications would provide additional
incentives to OTPs to direct Customer
(and Professional Customer) order flow
to the Exchange, which benefits all
market participants through increased
liquidity and enhanced price discovery.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,6 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.
Instead, the Exchange believes that the
proposed change, which would make
Tier C more achievable, would continue
to encourage competition, including by
attracting additional liquidity to the
Exchange, which would continue to
make the Exchange a more competitive
venue for, among other things, order
execution and price discovery. The
Exchange does not believe that the
proposed change will impair the ability
of any market participants or competing
order execution venues to maintain
U.S.C. 78f(b).
U.S.C. 78f(b)(4) and (5).
6 15 U.S.C. 78f(b)(8).
their competitive standing in the
financial markets. In addition, the
proposed change to Tier C would be
available to all similarly situated OTPs
and should therefore encourage
competition without undue burden.
The Exchange notes that it operates in
a highly competitive market in which
market participants can readily favor
competing venues. In such an
environment, the Exchange must
continually review, and consider
adjusting, its fees and credits to remain
competitive with other exchanges. For
the reasons described above, the
Exchange believes that the proposed
rule change reflects this competitive
environment
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) 7 of the Act and
subparagraph (f)(2) of Rule 19b–4 8
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) 9 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
4 15
7 15
5 15
8 17
PO 00000
Frm 00068
Fmt 4703
Sfmt 4703
53185
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
9 15 U.S.C. 78s(b)(2)(B).
E:\FR\FM\11AUN1.SGM
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53186
Federal Register / Vol. 81, No. 155 / Thursday, August 11, 2016 / Notices
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEArca–2016–115 on the subject
line.
DEPARTMENT OF TRANSPORTATION
Paper Comments
Notice of Funding Availability for the
Small Business Transportation
Resource Center Program
• 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–NYSEArca–2016–115. 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 such
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–2016–115, and should be
submitted on or before September 1,
2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Jill M. Peterson,
Assistant Secretary.
sradovich on DSK3GMQ082PROD with NOTICES
[FR Doc. 2016–19055 Filed 8–10–16; 8:45 am]
BILLING CODE 8011–01–P
10 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:44 Aug 10, 2016
Jkt 238001
Office of the Secretary of
Transportation
Office of Small and
Disadvantaged Business Utilization
(OSDBU), Office of the Secretary of
Transportation (OST), Department of
Transportation (DOT).
ACTION: Notice of funding availability
for the Great Lakes Region SBTRC.
AGENCY:
The Department of
Transportation (DOT), Office of the
Secretary (OST), Office of Small and
Disadvantaged Business Utilization
(OSDBU) announces the opportunity for
business centered community-based
organizations, transportation-related
trade associations, colleges and
universities, community colleges, or
chambers of commerce, registered with
the Internal Revenue Service as 501 C(6)
or 501 C(3) tax-exempt organizations, to
compete for participation in OSDBU’s
Small Business Transportation Resource
Center (SBTRC) program in the Great
Lakes Region (Illinois, Indiana,
Michigan, Ohio, and Wisconsin).
DATES: Complete Proposals must be
received on or September 16, 2016, 6:00
p.m. Eastern Standard Time (EST).
Proposals received after the deadline
will be considered non-responsive and
will not be reviewed.
ADDRESSES: Applications must be
electronically submitted through
Grants.gov. Only applicants who
comply with all submission
requirements described in this notice
and electronically submit valid
applications through Grants.gov will be
eligible for award.
FOR FURTHER INFORMATION CONTACT: For
further information concerning this
notice, contact Ms. Steronica Mattocks,
Program Analyst, U.S. Department of
Transportation, Office of Small and
Disadvantaged Business Utilization,
1200 New Jersey Avenue SE.,
Washington, DC 20590. Telephone:
(202) 366–0658. Email: sbtrc@dot.gov.
SUPPLEMENTARY INFORMATION: OSDBU
will enter into Cooperative Agreements
with these organizations to provide
outreach to the small business
community in their designated region
and provide financial and technical
assistance, business training programs,
business assessment, management
training, counseling, marketing and
outreach, and the dissemination of
information, to encourage and assist
small businesses to become better
SUMMARY:
PO 00000
Frm 00069
Fmt 4703
Sfmt 4703
prepared to compete for, obtain, and
manage DOT funded transportationrelated contracts and subcontracts at the
federal, state and local levels.
Throughout this notice, the term ‘‘small
business’’ will refer to: 8(a), small
disadvantaged businesses (SDB),
disadvantaged business enterprises
(DBE), women owned small businesses
(WOSB), HubZone, service disabled
veteran owned businesses (SDVOB), and
veteran owned small businesses
(VOSB). Throughout this notice,
‘‘transportation-related’’ is defined as
the maintenance, rehabilitation,
restructuring, improvement, or
revitalization of any of the nation’s
modes of transportation.
Funding Opportunity Number:
USDOT–OST–OSDBU/
SBTRCGREATLAKES–2016–1.
Catalog of Federal Domestic
Assistance (CFDA) Number: 20.910
Assistance to Small and Disadvantaged
Businesses.
Type of Award: Cooperative
Agreement Grant.
Award Ceiling: $232,000.
Award Floor: $224,000.
Program Authority: DOT is authorized
under 49 U.S.C. 332 (b) (4), (5) & (7) to
design and carry out programs to assist
small disadvantaged businesses in
getting transportation-related contracts
and subcontracts; develop support
mechanisms, including management
and technical services, that will enable
small disadvantaged businesses to take
advantage of those business
opportunities; and to make
arrangements to carry out the above
purposes.
Table of Contents
A. Program Description and Goals
B. Federal Award Information
C. Eligibility Information
1. Eligible Applicant
2. Program/Recipient Requirements
3. Office of Small and Disadvantaged
Business Utilization (OSDBU)
Responsibilities
D. Application and Submission Information
E. Application Review
1. Selection Criteria
a. Approach and Strategy
b. Linkages
c. Organizational Capability
d. Staff Capabilities and Experience
e. Cost Proposal (Budget)
f. Scoring Application
g. Conflicts of Interest
2. Review and Selection Process
F. Federal Award Administration
a. Administrative and National Policy
Requirements
b. Reporting
G. Federal Awarding Agency Contacts
H. Protection of Confidential Business
Information
E:\FR\FM\11AUN1.SGM
11AUN1
]]>Agencies
[Federal Register Volume 81, Number 155 (Thursday, August 11, 2016)]
[Notices]
[Pages 53184-53186]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-19055]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78485; File No. SR-NYSEArca-2016-115]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE
Arca Options Fee Schedule
August 5, 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 August 1, 2016, NYSE Arca, Inc. (``NYSE Arca'' 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 to amend the NYSE Arca Options Fee
Schedule. 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,
[[Page 53185]]
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
The purpose of this filing is to amend the Fee Schedule effective
August 1, 2016. Specifically, the Exchange proposes to modify the
qualification for Tier C of Customer and Professional Customer Posting
Credit Tiers in Non-Penny Pilot Issues (the ``Posting Credit Tiers''),
as described below.
The Customer Posting Credit Tiers consists of a Base Tier and Tiers
A, B and C, which provide for specified credits if specified volume
thresholds have been met.\3\ Currently, Tier C of the Posting Credit
Tiers provides a $0.90 per contract credit to OTP Holders and OTP Firms
(collectively, ``OTPs'') that meet or exceed a qualification basis of
at least 1.50% of Total Industry Customer equity and ETF option ADV
(``TCADV'') from Customer and Professional Customer Posted Orders in
all Issues, of which at least 0.40% of TCADV is from Customer and
Professional Customer Posted Orders in non-Penny Pilot Issues.
---------------------------------------------------------------------------
\3\ The Exchange notes that there is a posting credit of $0.75
associated with a Base Tier for which there is no volume
requirement.
---------------------------------------------------------------------------
The Exchange is proposing to modify the qualification for Tier C by
maintaining the requirement of at least 1.50% of TCADV from Customer
and Professional Customer Posted Orders in all Issues, but reducing the
portion of TCADV from Customer and Professional Customer Posted Orders
in non-Penny Pilot Issues from 0.40% to 0.30%. The Exchange believes
that reducing the required portion of posted orders in non-Penny Pilot
issues while maintaining the overall volume threshold to qualify for
Tier C would make the Tier (and related credit) more achievable given
that the vast majority of options issues traded on the Exchange are in
Penny Pilot Issues. The Exchange believes that the modification to make
Tier C more achievable would provide additional incentive to OTPs to
direct Customer (and Professional Customer) order flow to the Exchange,
which benefits all market participants through increased liquidity and
enhanced price discovery.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\4\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\5\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed modification to Tier C is
reasonable, equitable, and not unfairly discriminatory because it would
be available to all OTPs that execute posted electronic Customer (and
Professional Customer) orders on the Exchange on an equal and non-
discriminatory basis. The Exchange believes that modifying Tier C to
reduce the portion of posted orders in non-Penny Pilot issues required
to qualify for the Tier is equitable and not unfairly discriminatory
because the change would enable more OTPs to qualify for the credit,
which in turn, could reduce OTPs overall transaction costs on the
Exchange. Moreover, the Exchange believes the proposed modifications
would provide additional incentives to OTPs to direct Customer (and
Professional Customer) order flow to the Exchange, which benefits all
market participants through increased liquidity and enhanced price
discovery.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\6\ 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. Instead, the Exchange believes that the proposed
change, which would make Tier C more achievable, would continue to
encourage competition, including by attracting additional liquidity to
the Exchange, which would continue to make the Exchange a more
competitive venue for, among other things, order execution and price
discovery. The Exchange does not believe that the proposed change will
impair the ability of any market participants or competing order
execution venues to maintain their competitive standing in the
financial markets. In addition, the proposed change to Tier C would be
available to all similarly situated OTPs and should therefore encourage
competition without undue burden.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
The Exchange notes that it operates in a highly competitive market
in which market participants can readily favor competing venues. In
such an environment, the Exchange must continually review, and consider
adjusting, its fees and credits to remain competitive with other
exchanges. For the reasons described above, the Exchange believes that
the proposed rule change reflects this competitive environment
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) \7\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \8\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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) \9\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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
[[Page 53186]]
Send an email to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2016-115 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-NYSEArca-2016-115. 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 such 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-2016-115, and
should be submitted on or before September 1, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2016-19055 Filed 8-10-16; 8:45 am]
BILLING CODE 8011-01-P
