Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Delay the Implementation of the Options Regulatory Fee, 62185-62187 [2016-21487]
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Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices
must be submitted to the NRC. Reports
submitted under 10 CFR part 21 are
reviewed by the NRC staff to determine
whether the reported defects or failures
to comply in basic components at the
NRC licensed facilities or activities are
potentially generic safety problems.
These reports have been the basis for the
issuance of numerous NRC Generic
Communications that have contributed
to the improved safety of the nuclear
industry. The records required to be
maintained in accordance with 10 CFR
part 21 are subject to inspection by the
NRC to determine compliance with the
subject regulation.
III. Specific Requests for Comments
The NRC is seeking comments that
address the following questions:
1. Is the proposed collection of
information necessary for the NRC to
properly perform its functions? Does the
information have practical utility?
2. Is the estimate of the burden of the
information collection accurate?
3. Is there a way to enhance the
quality, utility, and clarity of the
information to be collected?
4. How can the burden of the
information collection on respondents
be minimized, including the use of
automated collection techniques or
other forms of information technology?
Dated at Rockville, Maryland, this 31st day
of August, 2016.
For the Nuclear Regulatory Commission.
David Cullison,
NRC Clearance Officer, Office of the Chief
Information Officer.
[FR Doc. 2016–21541 Filed 9–7–16; 8:45 am]
BILLING CODE 7590–01–P
POSTAL REGULATORY COMMISSION
[Docket Nos. CP2016–269; CP2016–270]
New Postal Products
Postal Regulatory Commission.
Notice.
AGENCY:
ACTION:
The Commission is noticing
recent Postal Service filings for the
Commission’s consideration concerning
negotiated service agreements. This
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: September 9,
2016 (Comment due date applies to all
Docket Nos. listed above)
ADDRESSES: Submit comments
electronically via the Commission’s
Filing Online system at https://
www.prc.gov. Those who cannot submit
comments electronically should contact
the person identified in the FOR FURTHER
mstockstill on DSK3G9T082PROD with NOTICES
SUMMARY:
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section by
telephone for advice on filing
alternatives.
INFORMATION CONTACT
FOR FURTHER INFORMATION CONTACT:
David A. Trissell, General Counsel, at
202–789–6820.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Introduction
II. Docketed Proceeding(s)
I. Introduction
The Commission gives notice that the
Postal Service filed request(s) for the
Commission to consider matters related
to negotiated service agreement(s). The
request(s) may propose the addition or
removal of a negotiated service
agreement from the market dominant or
the competitive product list, or the
modification of an existing product
currently appearing on the market
dominant or the competitive product
list.
Section II identifies the docket
number(s) associated with each Postal
Service request, the title of each Postal
Service request, the request’s acceptance
date, and the authority cited by the
Postal Service for each request. For each
request, the Commission appoints an
officer of the Commission to represent
the interests of the general public in the
proceeding, pursuant to 39 U.S.C. 505
(Public Representative). Section II also
establishes comment deadline(s)
pertaining to each request.
The public portions of the Postal
Service’s request(s) can be accessed via
the Commission’s Web site (https://
www.prc.gov). Non-public portions of
the Postal Service’s request(s), if any,
can be accessed through compliance
with the requirements of 39 CFR
3007.40.
The Commission invites comments on
whether the Postal Service’s request(s)
in the captioned docket(s) are consistent
with the policies of title 39. For
request(s) that the Postal Service states
concern market dominant product(s),
applicable statutory and regulatory
requirements include 39 U.S.C. 3622, 39
U.S.C. 3642, 39 CFR part 3010, and 39
CFR part 3020, subpart B. For request(s)
that the Postal Service states concern
competitive product(s), applicable
statutory and regulatory requirements
include 39 U.S.C. 3632, 39 U.S.C. 3633,
39 U.S.C. 3642, 39 CFR part 3015, and
39 CFR part 3020, subpart B. Comment
deadline(s) for each request appear in
section II.
1. Docket No(s).: CP2016–269; Filing
Title: Notice of United States Postal
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Service of Filing a Functionally
Equivalent Global Expedited Package
Services 6 Negotiated Service
Agreement and Application for NonPublic Treatment of Materials Filed
Under Seal; Filing Acceptance Date:
August 31, 2016; Filing Authority: 39
CFR 3015.5; Public Representative:
Kenneth R. Moeller; Comments Due:
September 9, 2016.
2. Docket No(s).: CP2016–270; Filing
Title: Notice of United States Postal
Service of Filing a Functionally
Equivalent Global Expedited Package
Services 3 Negotiated Service
Agreement and Application for NonPublic Treatment of Materials Filed
Under Seal ; Filing Acceptance Date:
August 31, 2016; Filing Authority: 39
CFR 3015.5; Public Representative:
Kenneth R. Moeller; Comments Due:
September 9, 2016.
This Notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2016–21502 Filed 9–7–16; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78745; File No. SR–
BatsEDGX–2016–48]
Self-Regulatory Organizations; Bats
EDGX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Delay the
Implementation of the Options
Regulatory Fee
September 1, 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 August
22, 2016, Bats EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
Securities and Exchange Commission
(the ‘‘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 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
1 15
II. Docketed Proceeding(s)
62185
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
2 17
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62186
Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices
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 filed a proposal to
delay implementation of recently
enacted amendments to the fee schedule
applicable to Members 5 and nonMembers of the Exchange pursuant to
EDGX Rules 15.1(a) and (c) to adopt an
Options Regulatory Fee (‘‘ORF’’).
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.
mstockstill on DSK3G9T082PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange recently submitted a
proposed rule change to modify the fee
schedule applicable to the Exchange’s
options platform (‘‘EDGX Options’’) to
adopt an ORF in the amount of $0.0002
per contract side.6 The Exchange
proposed to assess the per-contract ORF
to each Member and non-Member for all
options transactions cleared by OCC in
the ‘‘customer’’ range, regardless of the
exchange on which the transaction
occurs. In order to provide market
participants additional time to assess
the impact of the ORF on their
transactions and order execution
scenarios, the Exchange is delaying the
implementation date of the fee until
February 1, 2017.7
5 A 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 See Securities Exchange Release No. 78452
(August 1, 2016), 81 FR 51951 (August 5, 2016)
(SR–BatsEDGX–2016–33).
7 The Exchange noted in its proposal and
included text in its fee schedule that it may only
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2. Statutory Basis
The Exchange believes 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, and, in particular, with the
requirements of Section 6 of the Act.8
The Exchange also believes that its
proposal furthers the objectives of
Section 6(b)(5) of the Act 9 in that it is
designed to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in 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 delaying the implementation of
ORF will provide market participants
additional time to assess the impact of
the ORF on their transactions and order
execution scenarios, and that
implementation of the fee on February
1, 2017 will benefit investors and the
public interest.10
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act. The ORF is
not intended to have any impact on
competition. Rather, it is designed to
enable the Exchange to recover a
material portion of the Exchange’s cost
related to its regulatory activities.
Therefore, the Exchange does not
believe delaying the implantation of
ORF till February 1, 2017 will have any
impact on competition.
increase or decrease the ORF semi-annually, and
any such fee change will be effective on the first
business day of February or August. Id. See also the
Exchange’s fee schedule available at https://
batstrading.com/support/fee_schedule/edgx/ (dated
August 5, 2016). The Exchange initially filed the
proposed fee change on August 11, 2016 (SR–
BatsEDGX–2016–43). On August 19, 2016, the
Exchange withdrew SR–BatsEDGX–2016–43 and
submitted SR–BatsEDGX–2016–47. On August 22,
2016, the Exchange withdrew SR–BatsEDGX–2016–
47 and submitted this filing.
8 15 U.S.C. 78f.
9 15 U.S.C. 78f(b)(5).
10 The Exchange notes that other exchanges have
delayed the implementation of fees that were
previously published by the Commission. See
Securities Exchange Act Release Nos. 72605 (July
14, 2014), 79 FR 42066 (July 18, 2014) (SR–Phlx–
2014–44); 67068 (May 29, 2012), 77 FR 33256 (June
5, 2012) (SR–Nasdaq–2012–064); 66287 (February 1,
2012), 77 FR 6161 (February 7, 2012) (SR–FINRA–
2012–008); and 57183 (January 22, 2008), 73 FR
5249 (January 29, 2008) (SR–Nasdaq–2008–007).
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C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any written
comments from members or other
interested parties.
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)
of the Act 11 and paragraph (f) of Rule
19b–4 thereunder.12 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.
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 No. SR–
BatsEDGX–2016–48 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 No.
SR–BatsEDGX–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
11 15
12 17
E:\FR\FM\08SEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
08SEN1
Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices
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 No. SR–BatsEDGX–
2016–48, and should be submitted on or
before September 29, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–21487 Filed 9–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78761; File No. SR–NSX–
2016–04]
Self-Regulatory Organizations;
National Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Amend
Rule 11.18 To Address the Exchange’s
Liability for System Failures; Amend
Rule 2.11 To Provide for an Error
Account Maintained by the Exchange’s
Routing Broker; Adopt Rule 11.11(e)
To Allow Cancellation of Orders When
a System Failure Occurs; Amend Rule
1.5 To Reposition the Definition of a
Trading Center; and Make Other NonSubstantive and Conforming Changes
mstockstill on DSK3G9T082PROD with NOTICES
September 2, 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 August
29, 2016, National Stock Exchange, Inc.
(‘‘NSX’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change, as described in
Items I and II below, which Items have
been prepared by the Exchange. The
Exchange has designated this proposal
as a ‘‘non-controversial’’ proposed rule
13 17
CFR 200.30–3(a)(12).
15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1
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change pursuant to Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)(iii) 4
thereunder, which renders it effective
upon filing with the Commission. 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 proposing to: (i)
amend NSX Rule 11.18, entitled
‘‘LIMITATION OF LIABILITY,’’ to allow
the Exchange to provide compensation
for losses sustained as a result of an
Exchange trading system (‘‘System’’) 5
failure (‘‘System Failure’’) or through a
negligent act or omission of an
Exchange employee; (ii) adopt new NSX
Rule 11.11(e), entitled Cancellation of
Orders By NSX and NSX Securities,6 to
provide authority to cancel orders as
deemed to be necessary to maintain fair
and orderly markets if a System Failure
occurs; (iii) amend NSX Rule 2.11,
currently entitled NSX Securities, LLC,
to provide for an error account
maintained by NSX Securities, LLC
(‘‘NSXS’’); and (iv) make changes to
certain definitional sections and adopt
other non-substantive and ministerial
amendments. The Exchange has
designated this proposal as ‘‘noncontroversial’’ and provided the
Commission with the notice required by
Rule 19b–4(f)(6)(iii) under the Act.7
The text of the proposed Rule change
is available on the Exchange’s Web site
at https://www.nsx.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 statutory
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.
15 U.S.C. 78s(b)(3)(A).
17 CFR 240.19b–4(f)(6)(iii).
5 Rule 1.5S.(4) defines the ‘‘System’’ as the
‘‘. . .electronic securities communications and
trading facility designated by the Board through
which orders. . .are consolidated for ranking and
execution.’’
6 NSX Securities, LLC is a facility of the Exchange
as defined in Section 3(a)(2) of the Exchange Act,
15 U.S.C. 78c(a)(2) and, as such, is subject to
Section 6 of the Exchange Act, 15 U.S.C. 78f. The
Exchange is responsible for filing with the
Commission rule changes and fees relating to the
outbound router function of NSXS.
7 17 CFR 240.19b–4(f)(6)(iii).
3
4
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62187
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: (i) amend
NSX Rule 11.18 to establish a procedure
to compensate Equity Trading Permit
(‘‘ETP’’) Holders 8 for System Failures;
(ii) adopt Rule 11.11(e), Cancellation of
Orders By NSX or NSX Securities, to
provide that NSX or NSXS may cancel
orders as deemed necessary to maintain
fair and orderly markets if a System
Failure occurs at NSX, or at a routing
broker in connection with the routing
function provided under NSX Rules
2.11 and 11.15, or at another trading
center to which an NSX order has been
routed; (iii) amend NSX Rule 2.11 to
describe the operation of an error
account maintained by NSXS as the
Exchange’s outbound order routing
facility and by other routing brokerdealers that may be used to liquidate
unmatched executions when a System
Failure occurs; and (iv) amend NSX
Rule 1.5 to add the definition of a
‘‘Trading Center’’ by repositioning the
definition from its current placement in
NSX Rule 2.11(a) and make changes to
NSX Rule 11.15(a)(ii)(A) and
11.15(a)(ii)(B) in connection therewith.
The Exchange is also proposing certain
non-substantive, ministerial
amendments to Rules 1.5, 2.11 and
11.18.
Proposed Amendments to NSX Rule
11.18—Limitation of Liability
Currently, Rule 11.18 provides that
neither the Exchange nor Exchangerelated persons, which are defined in
current NSX Rule 11.18(A) as the
Exchange’s ‘‘agents, employees,
contractors, officers, directors,
committee members or affiliates,’’ shall
be liable to any User,9 ETP Holder or
persons associated therewith, for any
loss, damage, claim or expense growing
out of, inter alia, the use or enjoyment
of the System or any facility of the
Exchange. The Exchange is proposing to
amend Rule 11.18 to provide for the
payment of claims by ETP Holders for
losses sustained either as a result of a
8 Rule 1.5E.(1) defines ‘‘ETP’’ as an Equity
Trading Permit issued by the Exchange to a
registered broker or dealer for effecting approved
securities transactions on the Exchange’s trading
facilities.
9 A ‘‘User’’ is defined in Exchange Rule 1.5U.(1)
as ‘‘. . .any ETP Holder or Sponsored Participant
who is authorized to obtain access to the System[.]’’
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]]>Agencies
[Federal Register Volume 81, Number 174 (Thursday, September 8, 2016)]
[Notices]
[Pages 62185-62187]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21487]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78745; File No. SR-BatsEDGX-2016-48]
Self-Regulatory Organizations; Bats EDGX Exchange, Inc.; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To
Delay the Implementation of the Options Regulatory Fee
September 1, 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 August 22, 2016, Bats EDGX Exchange, Inc. (the ``Exchange'' or
``EDGX'') filed with the Securities and Exchange Commission (the
``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 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
[[Page 62186]]
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 filed a proposal to delay implementation of recently
enacted amendments to the fee schedule applicable to Members \5\ and
non-Members of the Exchange pursuant to EDGX Rules 15.1(a) and (c) to
adopt an Options Regulatory Fee (``ORF'').
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
\5\ A member is defined as ``any registered broker or dealer
that has been admitted to membership in the Exchange.'' See Exchange
Rule 1.5(n).
---------------------------------------------------------------------------
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange recently submitted a proposed rule change to modify
the fee schedule applicable to the Exchange's options platform (``EDGX
Options'') to adopt an ORF in the amount of $0.0002 per contract
side.\6\ The Exchange proposed to assess the per-contract ORF to each
Member and non-Member for all options transactions cleared by OCC in
the ``customer'' range, regardless of the exchange on which the
transaction occurs. In order to provide market participants additional
time to assess the impact of the ORF on their transactions and order
execution scenarios, the Exchange is delaying the implementation date
of the fee until February 1, 2017.\7\
---------------------------------------------------------------------------
\6\ See Securities Exchange Release No. 78452 (August 1, 2016),
81 FR 51951 (August 5, 2016) (SR-BatsEDGX-2016-33).
\7\ The Exchange noted in its proposal and included text in its
fee schedule that it may only increase or decrease the ORF semi-
annually, and any such fee change will be effective on the first
business day of February or August. Id. See also the Exchange's fee
schedule available at https://batstrading.com/support/fee_schedule/edgx/ (dated August 5, 2016). The Exchange initially filed the
proposed fee change on August 11, 2016 (SR-BatsEDGX-2016-43). On
August 19, 2016, the Exchange withdrew SR-BatsEDGX-2016-43 and
submitted SR-BatsEDGX-2016-47. On August 22, 2016, the Exchange
withdrew SR-BatsEDGX-2016-47 and submitted this filing.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes 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, and,
in particular, with the requirements of Section 6 of the Act.\8\ The
Exchange also believes that its proposal furthers the objectives of
Section 6(b)(5) of the Act \9\ in that it is designed to promote just
and equitable principles of trade, to foster cooperation and
coordination with persons engaged in 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
delaying the implementation of ORF will provide market participants
additional time to assess the impact of the ORF on their transactions
and order execution scenarios, and that implementation of the fee on
February 1, 2017 will benefit investors and the public interest.\10\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f.
\9\ 15 U.S.C. 78f(b)(5).
\10\ The Exchange notes that other exchanges have delayed the
implementation of fees that were previously published by the
Commission. See Securities Exchange Act Release Nos. 72605 (July 14,
2014), 79 FR 42066 (July 18, 2014) (SR-Phlx-2014-44); 67068 (May 29,
2012), 77 FR 33256 (June 5, 2012) (SR-Nasdaq-2012-064); 66287
(February 1, 2012), 77 FR 6161 (February 7, 2012) (SR-FINRA-2012-
008); and 57183 (January 22, 2008), 73 FR 5249 (January 29, 2008)
(SR-Nasdaq-2008-007).
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B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act. The ORF is not intended to have
any impact on competition. Rather, it is designed to enable the
Exchange to recover a material portion of the Exchange's cost related
to its regulatory activities. Therefore, the Exchange does not believe
delaying the implantation of ORF till February 1, 2017 will have any
impact on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.
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) of the Act \11\ and paragraph (f) of Rule 19b-4
thereunder.\12\ 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.
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f).
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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 No. SR-BatsEDGX-2016-48 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 No. SR-BatsEDGX-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
[[Page 62187]]
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 No. SR-BatsEDGX-2016-48, and should be submitted on or before
September 29, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-21487 Filed 9-7-16; 8:45 am]
BILLING CODE 8011-01-P
