Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Exchange's Pricing Schedule Under Section VIII With Respect To Execution and Routing of Orders in Securities Priced at $1 or More Per Share, 63231-63233 [2016-22025]
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Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices
63231
1–2012 (77 FR 3912, Jan. 25, 2012), and
29 CFR 1910.7.
SECURITIES AND EXCHANGE
COMMISSION
UL submitted an acceptable
application for expansion of its scope of
recognition. OSHA’s review of the
application file, and pertinent
documentation, indicate that UL can
meet the requirements prescribed by 29
CFR 1910.7 for expanding its
recognition to include the addition of
these twenty-five test standards for
NRTL testing and certification listed
above. This preliminary finding does
not constitute an interim or temporary
approval of UL’s application.
OSHA welcomes public comment as
to whether UL meets the requirements
of 29 CFR 1910.7 for expansion of its
recognition as an NRTL. Comments
should consist of pertinent written
documents and exhibits. Commenters
needing more time to comment must
submit a request in writing, stating the
reasons for the request. Commenters
must submit the written request for an
extension by the due date for comments.
OSHA will limit any extension to 10
days unless the requester justifies a
longer period. OSHA may deny a
request for an extension if the request is
not adequately justified. To obtain or
review copies of the exhibits identified
in this notice, as well as comments
submitted to the docket, contact the
Docket Office, Room N–2625,
Occupational Safety and Health
Administration, U.S. Department of
Labor, at the above address. These
materials also are available online at
https://www.regulations.gov under
Docket No. OSHA–2009–0025.
OSHA staff will review all comments
to the docket submitted in a timely
manner and, after addressing the issues
raised by these comments, will
recommend to the Assistant Secretary
for Occupational Safety and Health
whether to grant UL’s application for
expansion of its scope of recognition.
The Assistant Secretary will make the
final decision on granting the
application. In making this decision, the
Assistant Secretary may undertake other
proceedings prescribed in Appendix A
to 29 CFR 1910.7.
OSHA will publish a public notice of
its final decision in the Federal
Register.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
III. Preliminary Findings on the
Application
Signed at Washington, DC, on September 9,
2016.
David Michaels,
Assistant Secretary of Labor for Occupational
Safety and Health.
[Release No. 34–78784; File No. SR–Phlx–
2016–91]
Authority and Signature
David Michaels, Ph.D., MPH,
Assistant Secretary of Labor for
Occupational Safety and Health, 200
Constitution Avenue NW., Washington,
DC 20210, authorized the preparation of
this notice. Accordingly, the Agency is
issuing this notice pursuant to 29 U.S.C.
657(g)(2), Secretary of Labor’s Order No.
VerDate Sep<11>2014
20:55 Sep 13, 2016
Jkt 238001
PRESIDIO TRUST
Self-Regulatory Organizations;
NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to the
Exchange’s Pricing Schedule Under
Section VIII With Respect To Execution
and Routing of Orders in Securities
Priced at $1 or More Per Share
Notice of Public Meeting
September 8, 2016.
[FR Doc. 2016–22084 Filed 9–13–16; 8:45 am]
BILLING CODE 4510–26–P
The Presidio Trust.
ACTION: Notice of public meeting.
AGENCY:
In accordance with § 103(c)(6)
of the Presidio Trust Act, 16 U.S.C.
460bb appendix, and in accordance
with the Presidio Trust’s bylaws, notice
is hereby given that a public meeting of
the Presidio Trust Board of Directors
will be held commencing 6:30 p.m. on
Thursday, October 6, 2016, at the
Officers’ Club, 50 Moraga Avenue,
Presidio of San Francisco, California.
The Presidio Trust was created by
Congress in 1996 to manage
approximately eighty percent of the
former U.S. Army base known as the
Presidio, in San Francisco, California.
The purposes of this meeting are to
take action on the minutes of a previous
Board meeting; to provide the
Chairperson’s report; to provide the
Chief Executive Officer’s report; to
provide committee reports; to provide
partners’ reports; to receive public
feedback on priorities; and to receive
public comment in accordance with the
Trust’s Public Outreach Policy.
Individuals requiring special
accommodation at this meeting, such as
needing a sign language interpreter,
should contact Mollie Matull at
415.561.5300 prior to September 29,
2016.
SUMMARY:
The meeting will begin at 6:30
p.m. on Thursday, October 6, 2016.
ADDRESSES: The meeting will be held at
the Officers’ Club, 50 Moraga Avenue,
Presidio of San Francisco.
FOR FURTHER INFORMATION CONTACT:
Andrea Andersen, Acting General
Counsel, the Presidio Trust, 103
Montgomery Street, P.O. Box 29052, San
Francisco, California 94129–0052,
Telephone: 415.561.5300.
DATES:
Dated: September 8, 2016.
Andrea M. Andersen,
Acting General Counsel.
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
31, 2016, NASDAQ PHLX LLC (‘‘Phlx’’
or the ‘‘Exchange’’) 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
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 the Substance
of the Proposed Rule Change
The Exchange proposes to amend the
Exchange’s Pricing Schedule under
Section VIII, entitled ‘‘NASDAQ PSX
FEES,’’ (‘‘Pricing Schedule’’) with
respect to execution and routing of
orders in securities priced at $1 or more
per share.
While these amendments are effective
upon filing, the Exchange has
designated the proposed amendments to
be operative on September 1, 2016. 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
[FR Doc. 2016–22052 Filed 9–13–16; 8:45 am]
1 15
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CFR 240.19b–4.
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Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices
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 purpose of the proposed rule
change is to add a credit tier for order
execution and routing applicable to the
use of the order execution and routing
services of the NASDAQ PSX System
(‘‘PSX System’’) by member
organizations for all securities traded at
$1 or more per share.
Specifically, the Exchange proposes to
amend its Pricing Schedule to include a
new credit tier for providing liquidity
through the PSX System for displayed
quotes/orders. The new credit tier will
be for $0.0027 per share executed for
displayed quotes/orders entered by a
member organization that provides and
accesses 0.15% or more of consolidated
volume (‘‘Consolidated Volume’’)
during the month.
The proposed new credit tier is
positioned to fall between two similar
existing credit tiers. It will provide a
higher credit, $0.0027 per share
executed, than an existing credit tier,
$0.0025 per share executed, but it also
has a higher threshold of required
activity. The new credit tier requires a
member to provide and access 0.15% of
Consolidated Volume during the month
versus the existing 0.05% for the
$0.0025 credit tier.
Alternatively the new credit tier will
provide a lower credit than the existing
$0.0029 per share executed credit tier,
but also has a lower required
Consolidated Volume threshold. The
$0.0029 per share executed credit tier
requires a member to provide and access
0.25% of Consolidated Volume during
the month, while the new credit tier
only requires a member to provide and
access 0.15% of Consolidated Volume
during the month.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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 section 6(b)(4) and
6(b)(5) of the Act,4 in particular, in that
it provides for the equitable allocation
of reasonable dues, fees, and other
charges among members and issuers and
other persons using any facility or
system which the Exchange operates or
controls, and is not designed to permit
3 15
4 15
U.S.C. 78f.
U.S.C. 78f(b)(4) and (5).
VerDate Sep<11>2014
20:55 Sep 13, 2016
unfair discrimination between
customers, issuers, brokers, or dealers.
The proposed rule change to the
credit tiers under the Exchange’s Pricing
Schedule, section VIII, are reflective of
the Exchange’s ongoing efforts to use
pricing incentive programs to attract
order flow to the Exchange and improve
market quality. The goal of these pricing
incentives is to provide meaningful
incentives for members to increase their
participation on the Exchange.
The Exchange believes that the new
credit tier for displayed quotes/orders
for a member organization providing
liquidity through the PSX System of
$0.0027 per share executed in The
NASDAQ Stock Market LLC
(‘‘Nasdaq’’)—listed securities, securities
listed on the New York Stock Exchange
(‘‘NYSE’’), and securities listed on
exchanges other than Nasdaq and NYSE
is reasonable because it is consistent
with other credits that the Exchange
provides to members that access and/or
provide liquidity. As a general principle
the Exchange chooses to offer credits to
members in return for market improving
behavior. The various credits the
Exchange provides for members require
them to significantly contribute to
market quality by accessing and/or
providing certain levels of Consolidated
Volume. The proposed credit tier will
be provided to members that provide
and access liquidity in all securities of
0.15% or more of Consolidated Volume
during the month.
The Exchange also believes that this
proposed rule change is consistent with
an equitable allocation of fees and are
not unfairly discriminatory because the
new credit tier for non-displayed
orders/quotes is uniformly available to
all members and affects all members
equally and in the same way.
Additionally, the proposed new credit
tier will further encourage market
participant activity and will also
support price discovery and liquidity
provision.
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.5
The Exchange notes that it operates in
a highly competitive market in which
market participants can readily favor
dozens of different competing
exchanges and alternative trading
systems if they deem charges at a
particular venue to be excessive, or
credit opportunities available at other
venues to be more favorable. In such an
environment, the Exchange must
continually adjust its charges and
credits to remain competitive with other
exchanges. Because competitors are free
to modify their own charges and credits
in response, and because market
participants may readily adjust their
order routing practices, the Exchange
believes that the degree to which
changes to charges and credits in this
market may impose any burden on
competition is extremely limited.
In this instance, the proposed new
credit tier for member organizations
entering orders in the PSX System for
displayed orders that provide liquidity
does not impose a burden on
competition because Exchange
membership is optional and is the
subject of competition from other
exchanges. These adjustments are
reflective of the intent to increase the
order flow on the Exchange. For these
reasons, the Exchange does not believe
that the proposed changes will impair
the ability of members or competing
order execution venues to maintain
their competitive standing in the
financial markets. Moreover, because
there are numerous competitive
alternatives to the use of the Exchange,
it is likely that the Exchange will lose
market share as a result of the changes
if they are unattractive to market
participants.
Accordingly, the Exchange does not
believe that the proposed rule change
will impair the ability of members or
competing order execution venues to
maintain their competitive standing in
the financial markets.
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
The foregoing rule change has become
effective pursuant to section 19(b)(3)(A)
of the Act 6 and paragraph (f) of Rule
19b–4 7 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
6 15
5 15
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U.S.C. 78f(b)(8).
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7 17
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U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
14SEN1
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Federal Register / Vol. 81, No. 178 / Wednesday, September 14, 2016 / Notices
Commission will institute proceedings
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
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
Phlx–2016–91 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–2016–91. 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
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
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–Phlx–
2016–91, and should be submitted on or
before October 5, 2016.
The Exchange proposes to amend its
Fees Schedule. The text of the proposed
rule change is available on the
Exchange’s Web site (https://
www.c2exchange.com/Legal/), at the
Exchange’s Office of the Secretary, 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
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Brent J. Fields,
Secretary.
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. 2016–22025 Filed 9–13–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78785; File No. SR–C2–
2016–017]
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule To
Amend the Fees Schedule
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
September 8, 2016.
The Exchange proposes to amend its
Fees Schedule. Particularly, the
Exchange proposes to amend Taker fees
for simple, non-complex orders in all
equity, multiply-listed index, ETF and
ETN options classes (except Russell
2000 Index (‘‘RUT’’)) in both penny and
non-penny classes. The Taker fees
would be increased by $0.02 per
contract in penny classes and by $0.02
for customers (‘‘C’’ origin code) and by
$0.05 for all other origin codes in nonpenny classes. Specifically, the
Exchange proposes to adopt the
following rates. Listed rates are per
contract.
1. Purpose
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
September 1, 2016, C2 Options
Exchange, Incorporated (the ‘‘Exchange’’
or ‘‘C2’’) 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
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
Penny classes
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Current
Public Customer ..............................................................................................................
C2 Market-Maker .............................................................................................................
All Other Origins (Professional Customer, Firm, Broker/Dealer, non-C2 Market-Maker,
JBO, etc.) .....................................................................................................................
Trades on the Open ........................................................................................................
Non-penny
Proposed
.49
.50
.83
.85
.85
.90
.48
($0.00)
.50
($0.00)
.88
($0.00)
.93
($0.00)
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
20:55 Sep 13, 2016
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.47
.48
8 17
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Current
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]]>Agencies
[Federal Register Volume 81, Number 178 (Wednesday, September 14, 2016)]
[Notices]
[Pages 63231-63233]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-22025]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-78784; File No. SR-Phlx-2016-91]
Self-Regulatory Organizations; NASDAQ PHLX LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Relating to the
Exchange's Pricing Schedule Under Section VIII With Respect To
Execution and Routing of Orders in Securities Priced at $1 or More Per
Share
September 8, 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 31, 2016, NASDAQ PHLX LLC (``Phlx'' or the ``Exchange'')
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 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 the
Substance of the Proposed Rule Change
The Exchange proposes to amend the Exchange's Pricing Schedule
under Section VIII, entitled ``NASDAQ PSX FEES,'' (``Pricing
Schedule'') with respect to execution and routing of orders in
securities priced at $1 or more per share.
While these amendments are effective upon filing, the Exchange has
designated the proposed amendments to be operative on September 1,
2016. 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
[[Page 63232]]
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 purpose of the proposed rule change is to add a credit tier for
order execution and routing applicable to the use of the order
execution and routing services of the NASDAQ PSX System (``PSX
System'') by member organizations for all securities traded at $1 or
more per share.
Specifically, the Exchange proposes to amend its Pricing Schedule
to include a new credit tier for providing liquidity through the PSX
System for displayed quotes/orders. The new credit tier will be for
$0.0027 per share executed for displayed quotes/orders entered by a
member organization that provides and accesses 0.15% or more of
consolidated volume (``Consolidated Volume'') during the month.
The proposed new credit tier is positioned to fall between two
similar existing credit tiers. It will provide a higher credit, $0.0027
per share executed, than an existing credit tier, $0.0025 per share
executed, but it also has a higher threshold of required activity. The
new credit tier requires a member to provide and access 0.15% of
Consolidated Volume during the month versus the existing 0.05% for the
$0.0025 credit tier.
Alternatively the new credit tier will provide a lower credit than
the existing $0.0029 per share executed credit tier, but also has a
lower required Consolidated Volume threshold. The $0.0029 per share
executed credit tier requires a member to provide and access 0.25% of
Consolidated Volume during the month, while the new credit tier only
requires a member to provide and access 0.15% of Consolidated Volume
during the month.
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
section 6(b)(4) and 6(b)(5) of the Act,\4\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees, and
other charges among members and issuers and other persons using any
facility or system which the Exchange operates or controls, and is not
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The proposed rule change to the credit tiers under the Exchange's
Pricing Schedule, section VIII, are reflective of the Exchange's
ongoing efforts to use pricing incentive programs to attract order flow
to the Exchange and improve market quality. The goal of these pricing
incentives is to provide meaningful incentives for members to increase
their participation on the Exchange.
The Exchange believes that the new credit tier for displayed
quotes/orders for a member organization providing liquidity through the
PSX System of $0.0027 per share executed in The NASDAQ Stock Market LLC
(``Nasdaq'')--listed securities, securities listed on the New York
Stock Exchange (``NYSE''), and securities listed on exchanges other
than Nasdaq and NYSE is reasonable because it is consistent with other
credits that the Exchange provides to members that access and/or
provide liquidity. As a general principle the Exchange chooses to offer
credits to members in return for market improving behavior. The various
credits the Exchange provides for members require them to significantly
contribute to market quality by accessing and/or providing certain
levels of Consolidated Volume. The proposed credit tier will be
provided to members that provide and access liquidity in all securities
of 0.15% or more of Consolidated Volume during the month.
The Exchange also believes that this proposed rule change is
consistent with an equitable allocation of fees and are not unfairly
discriminatory because the new credit tier for non-displayed orders/
quotes is uniformly available to all members and affects all members
equally and in the same way. Additionally, the proposed new credit tier
will further encourage market participant activity and will also
support price discovery and liquidity provision.
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.\5\
The Exchange notes that it operates in a highly competitive market in
which market participants can readily favor dozens of different
competing exchanges and alternative trading systems if they deem
charges at a particular venue to be excessive, or credit opportunities
available at other venues to be more favorable. In such an environment,
the Exchange must continually adjust its charges and credits to remain
competitive with other exchanges. Because competitors are free to
modify their own charges and credits in response, and because market
participants may readily adjust their order routing practices, the
Exchange believes that the degree to which changes to charges and
credits in this market may impose any burden on competition is
extremely limited.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
In this instance, the proposed new credit tier for member
organizations entering orders in the PSX System for displayed orders
that provide liquidity does not impose a burden on competition because
Exchange membership is optional and is the subject of competition from
other exchanges. These adjustments are reflective of the intent to
increase the order flow on the Exchange. For these reasons, the
Exchange does not believe that the proposed changes will impair the
ability of members or competing order execution venues to maintain
their competitive standing in the financial markets. Moreover, because
there are numerous competitive alternatives to the use of the Exchange,
it is likely that the Exchange will lose market share as a result of
the changes if they are unattractive to market participants.
Accordingly, the Exchange does not believe that the proposed rule
change will impair the ability of members or competing order execution
venues to maintain their competitive standing in the financial markets.
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
The foregoing rule change has become effective pursuant to section
19(b)(3)(A) of the Act \6\ and paragraph (f) of Rule 19b-4 \7\
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
[[Page 63233]]
Commission will institute proceedings to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 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 Number SR-Phlx-2016-91 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-2016-91. 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-Phlx-2016-91, and should be
submitted on or before October 5, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-22025 Filed 9-13-16; 8:45 am]
BILLING CODE 8011-01-P
