Sunshine Act Meeting, 68081 [2016-23910]
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Federal Register / Vol. 81, No. 191 / Monday, October 3, 2016 / Notices
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission Advisory Committee on
Small and Emerging Companies will
hold a public meeting on Wednesday,
October 5, 2016, in Multi-Purpose Room
LL–006 at the Commission’s
headquarters, 100 F Street NE.,
Washington, DC.
The meeting will begin at 9:30 a.m.
(EDT) and will be open to the public.
Seating will be on a first-come, firstserved basis. Doors will open at 9:00
a.m. Visitors will be subject to security
checks. The meeting will be webcast on
the Commission’s Web site at
www.sec.gov.
On September 15, 2016, the
Commission published notice of the
Committee meeting (Release No. 33–
10208), indicating that the meeting is
open to the public and inviting the
public to submit written comments to
the Committee. This Sunshine Act
notice is being issued because a majority
of the Commission may attend the
meeting.
The agenda for the meeting includes
matters relating to rules and regulations
affecting small and emerging companies
under the federal securities laws.
For further information, please
contact Brent J. Fields from the Office of
the Secretary at (202) 551–5400.
Dated: September 28, 2016.
Brent J. Fields,
Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–78945; File No. SR–IEX–
2016–15]
Self-Regulatory Organizations:
Investors Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Related to
Optional Risk Management Controls
sradovich on DSK3GMQ082PROD with NOTICES
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
September 22, 2016, the Investors
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Pursuant to the provisions of Section
19(b)(1) under the Securities Exchange
Act of 1934 (‘‘Act’’),4 and Rule 19b–4
thereunder,5 Investors Exchange LLC
(‘‘IEX’’ or ‘‘Exchange’’) is filing with the
Securities and Exchange Commission
(‘‘Commission’’) a proposed rule change
to amend Rule 11.380 to provide that
the Aggregate Risk Controls (‘‘ARC’’)
mechanism is available to any IEX
Member as well as to clearing firms for
their broker correspondent IEX Member
firms, and to specify the manner in
which Members shall contact IEX to
arrange to utilize the ARC mechanism.
The Exchange has designated this rule
change as non-controversial under
Section 19(b)(3)(A) of the Act 6 and
provided the Commission with the
notice required by Rule 19b–4(f)(6)(iii)
thereunder.7
The text of the proposed rule change
is available at the Exchange’s Web site
at www.iextrading.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
[FR Doc. 2016–23910 Filed 9–29–16; 11:15 am]
September 27, 2016.
Exchange LLC (‘‘IEX’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
In its filing with the Commission, the
self-regulatory organization 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 statement may be examined at
the places specified in Item IV below.
The self-regulatory organization has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
4 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
6 15 U.S.C. 78s(b)(3)(A).
7 17 CFR 240.19b–4(f)(6)(iii).
5 17
1 15
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
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68081
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Rule 11.380, entitled Risk
Management, describes the optional
ARC mechanism that is designed to
assist IEX clearing firms 8 in their risk
management efforts. IEX does not charge
a fee for use of ARC. As described in the
rule, ARC can be configured to provide
trading limits based on the gross
notional exposure for matched and
routed trades for a clearing firm’s broker
correspondent across MPIDs, by MPID,
by FIX session or in combination, per
clearing firm relationship. As specified
in the rule, ARCs are elected, and the
upper value of any limits is set by the
clearing firm of a Member. Once the
gross notional exposure, as elected and
configured, has exceeded the predetermined limit, IEX will reject new
orders and cancel all open orders for the
applicable MPID(s) and/or FIX session
specified. As specified in paragraph
(a)(3)(A) of Rule 11.380, gross notional
exposure is calculated as the absolute
sum of the notional value of all buy and
sell trades (i.e., equal to the value of
executed buys plus the absolute value of
executed long sells plus the absolute
value of executed short sells). There is
no netting of buys and sales in the same
symbol or across symbols. Gross
notional exposure resets for each new
trading day.
IEX proposes to revise the rule to
provide that ARC is optionally available
to any Member as well as to clearing
firms for their broker correspondent IEX
Member firms. This change will serve to
clarify that ARC may be used by a
clearing firm Member for its own
trading on IEX as well as for its
correspondent firm customers that are
IEX Members. Because a Member that is
self-clearing technically has a ‘‘clearing
firm relationship’’ with itself, the
Exchange believes that the rule already
provides that ARC may be used by a
clearing firm Member for its own
trading on IEX. In addition, IEX
proposes to amend Rule 11.380 to
provide that ARC is available to any
Member. Thus, as proposed, ARC may
be elected by a Member for its own
trading on IEX (whether or not such
Member is self-clearing) as well as by a
clearing firm Member for its
8 As described in Rule 11.250(a), a clearing firm
is an IEX Member that is a member of a registered
clearing agency. Pursuant to IEX Rule 2.160(c)(4) an
IEX Member must be a member of a registered
clearing agency or clear transactions executed on
the Exchange through another Member that is a
member of a registered clearing agency.
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[Federal Register Volume 81, Number 191 (Monday, October 3, 2016)]
[Notices]
[Page 68081]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-23910]
[[Page 68081]]
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SECURITIES AND EXCHANGE COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission Advisory Committee on Small and Emerging
Companies will hold a public meeting on Wednesday, October 5, 2016, in
Multi-Purpose Room LL-006 at the Commission's headquarters, 100 F
Street NE., Washington, DC.
The meeting will begin at 9:30 a.m. (EDT) and will be open to the
public. Seating will be on a first-come, first-served basis. Doors will
open at 9:00 a.m. Visitors will be subject to security checks. The
meeting will be webcast on the Commission's Web site at www.sec.gov.
On September 15, 2016, the Commission published notice of the
Committee meeting (Release No. 33-10208), indicating that the meeting
is open to the public and inviting the public to submit written
comments to the Committee. This Sunshine Act notice is being issued
because a majority of the Commission may attend the meeting.
The agenda for the meeting includes matters relating to rules and
regulations affecting small and emerging companies under the federal
securities laws.
For further information, please contact Brent J. Fields from the
Office of the Secretary at (202) 551-5400.
Dated: September 28, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016-23910 Filed 9-29-16; 11:15 am]
BILLING CODE 8011-01-P
