Self-Regulatory Organizations; BOX Options Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Controversial Amendments to Its Rules, 70224-70226 [2016-24422]
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70224
Federal Register / Vol. 81, No. 196 / Tuesday, October 11, 2016 / Notices
based rebates and fees increase
intermarket and intramarket
competition by incenting Participants to
direct their order flow to the exchange,
which benefits all participants by
providing more trading opportunities
and improves competition on the
Exchange.
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)(ii) of the Exchange Act 7 and
Rule 19b–4(f)(2) thereunder,8 because it
establishes or changes a due, or fee.
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend the rule change if
it appears to the Commission that the
action is necessary or appropriate in the
public interest, for the protection of
investors, or would otherwise further
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
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–BOX–
2016–49, and should be submitted on or
before November 1, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–24425 Filed 10–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79037; File No. SR–BOX–
2016–46]
Self-Regulatory Organizations; BOX
Options Exchange LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Make NonControversial Amendments to Its
Rules
Paper Comments
asabaliauskas on DSK3SPTVN1PROD with NOTICES
• 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–
BOX–2016–49 on the subject line.
October 4, 2016.
• 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–BOX–2016–49. 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
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 22, 2016, BOX Options
Exchange LLC (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
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
7 15
U.S.C. 78s(b)(3)(A)(ii).
8 17 CFR 240.19b–4(f)(2).
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been prepared by the self-regulatory
organization. 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 make noncontroversial amendments to its rules.
The text of the proposed rule change is
available from the principal office of the
Exchange, at the Commission’s Public
Reference Room and also on the
Exchange’s Internet Web site at https://
boxexchange.com.
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,
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 self-regulatory organization has
prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to amend Rule 7130(a) to
clarify that the BOX HSVF is no longer
provided to market participants at no
cost. The BOX HSVF is a proprietary
product that provides: (i) Trades and
trade cancelation information; (ii) bestranked price level to buy and the bestranked price level to sell; (iii)
instrument summaries (including
information such as high, low, and last
trade price and traded volume); (iv) the
five best limit prices for each option
instrument; (v) request for Quote
messages; 3 (vi) PIP Order, Improvement
Order and Block Trade Order
(Facilitation and Solicitation)
information; 4 (vii) orders exposed at
NBBO; 5 (viii) instrument dictionary
(e.g., strike price, expiration date,
underlying symbol, price threshold, and
minimum trading increment for
3 See Exchange Rules 100(a)(57), 7070(h) and
8050.
4 As set forth in Exchange Rules 7150 and 7270,
respectively.
5 As set forth in Exchange Rules 7130(b)(2) and
8040(d)(6), respectively.
E:\FR\FM\11OCN1.SGM
11OCN1
Federal Register / Vol. 81, No. 196 / Tuesday, October 11, 2016 / Notices
instruments traded on BOX); (ix)
options class and instrument status
change notices (e.g., whether an
instrument or class is in pre-opening,
continuous trading, closed, halted, or
prohibited from trading); (x) options
class opening time; and (xi) Public
Customer bid/ask volume at the best
limit.
The Exchange recently amended its
fees to establish a $750.00 per month fee
for receiving the HSVF.6 The Exchange
proposes to amend the language in BOX
Rule 7130(a)(2) to reflect this change.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the Act,7
in general, and Section 6(b)(5) of the
Act,8 in particular, in that it is designed
to promote just and equitable principles
of trade, remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general protect investors
and the public interest. The Exchange
believes it is appropriate to make the
proposed change to its rules so that
market participants and investors have
a clear and accurate understanding of
the meaning of the Exchange’s rules. By
removing obsolete rule text, the
Exchange is eliminating any potential
for confusion by simplifying the
Exchange Rules, ensuring that market
participants, regulators and the public
can more easily navigate the Exchange’s
Rulebook. The Exchange believes that
the proposed rule change is not unfairly
discriminatory because it treats all
market participants equally and will not
have an adverse impact on any market
participant.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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. In particular,
the proposed change simply reflects the
recent amendments to the BOX Fee
Schedule.9 As such, 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.
6 See Securities Exchange Act Release No. 78565
(August 12, 2016), 81 FR 55251 (August 18, 2016)
(SR–BOX–2016–40).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
9 See supra note 6.
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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 neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) 10 of the Act and Rule 19b–
4(f)(6) thereunder.11
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 12 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 13
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has asked
the Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange believes that
waiver of the 30-day operative delay is
consistent with the protection of
investors and the public interest
because it will allow the Exchange to
immediately reflect recent amendments
to its fee schedule, which will eliminate
any potential for confusion.14 The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest. Therefore, the
Commission hereby waives the
operative delay and designates the
proposed rule change operative upon
filing.15
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission.
12 17 CFR 240.19b–4(f)(6).
13 17 CFR 240.19b–4(f)(6)(iii).
14 See supra note 6.
15 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
11 17
PO 00000
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70225
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
BOX–2016–46 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–BOX–2016–46. 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–BOX–
E:\FR\FM\11OCN1.SGM
11OCN1
70226
Federal Register / Vol. 81, No. 196 / Tuesday, October 11, 2016 / Notices
2016–46, and should be submitted on or
before November 1, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–24422 Filed 10–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79034; File No. SR–
NYSEArca–2016–134]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Rule 7.16P
October 4, 2016.
SECURITIES AND EXCHANGE
COMMISSION
Investment Company Act of 1940;
Release No. 32302/October 4, 2016
In the Matter of: Advisors Series Trust, 615
East Michigan Street, Milwaukee, WI
53202; Orinda Asset Management, LLC, 4
Orinda Way, Suite 100B, Orinda, CA
94563; (File No. 812–13889)
Order Under Section 38(a) of the
Investment Company Act of 1940
Rescinding a Prior Order
On September 8, 2016, the
Commission issued a notice (Investment
Company Act Release No. 32254) of its
intention to rescind, at the request of
Advisors Series Trust and Orinda Asset
Management, LLC, pursuant to section
38(a) of the Investment Company Act of
1940 (the ‘‘Act’’), a prior order issued to
Advisors Series Trust and Orinda Asset
Management, LLC under section 6(c) of
the Act that granted an exemption from
section 15(a) of the Act and rule 18f–2
under the Act, as well as from certain
disclosure requirements (Investment
Company Act Release No. 30065 (May
21, 2012)) (the ‘‘Prior Order’’).
The notice gave interested persons an
opportunity to request a hearing and
stated that an order rescinding the Prior
Order would be issued unless a hearing
was ordered. No request for a hearing
has been filed.
Accordingly,
It is ordered, pursuant to section 38(a)
of the Act, that the Prior Order be, and
hereby is, rescinded.
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 26, 2016, NYSE Arca, Inc.
(the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7.16P. 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,
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.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
By the Commission.
Robert W. Errett,
Deputy Secretary.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
[FR Doc. 2016–24427 Filed 10–7–16; 8:45 am]
1. Purpose
BILLING CODE 8011–01–P
The Exchange proposes to amend
Rule 7.16P (Short Sales). Specifically,
the Exchange proposes to amend Rule
7.16P(f)(5)(G) regarding the treatment of
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
16 17
CFR 200.30–3(a)(12).
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an Intermarket Sweep Order (‘‘ISO’’) 4
designated Immediate-or-Cancel (‘‘IOC’’)
during a Short Sale Period.5 Rule
7.16P(f)(5)(F) currently provides that
during a Short Sale Period, IOC orders
will be traded to the extent possible at
a Permitted Price 6 and higher and then
cancelled, and the working price will
not be adjusted.7 An IOC ISO with a
limit price at or below the NBB, on the
other hand, is treated unlike an IOC
order during a Short Sale Period and
similar to a Day ISO. Rule 7.16P(f)(5)(G)
currently provides that a Day ISO will
be rejected if the limit price is at or
below the NBB. The Exchange proposes
to amend Rule 7.16P(f)(5)(G) to specify
that an IOC ISO and a Day ISO are both
handled in a similar manner by the
Exchange. The Exchange proposes to
make this change by deleting the word
‘Day’ from Rule 7.16P(f)(5)(G).8 Given
that during a Short Sale Period, an IOC
ISO and a Day ISO are both treated in
a similar manner, the Exchange believes
the proposed change will provide
specificity to the Exchange’s rules that
during a Short Sale Period, all ISOs will
be rejected if the limit price is at or
below the NBB.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the Act,9
in general, and furthers the objectives of
Section 6(b)(5),10 in particular, because
it is designed to prevent fraudulent and
manipulative acts and practices, 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.
Specifically, the Exchange believes
that the proposed rule change would
promote just and equitable principles of
4 An ISO is a Limit Order that does not route and
meets the requirements of Rule 600(b)(30) of
Regulation NMS. See Rule 7.31P(e)(3).
5 Short Sale Period is the period of time that the
Short Sale Price Test remains in effect if the Short
Sale Price Test is triggered by the listing market
with respect to a covered security. See Rule
7.16P(f)(4).
6 Permitted Price is the working price and/or
display price adjusted one minimum price
increment above the current NBB for short sale
orders during a Short Sale Period that have a
working price and/or display price equal to or
lower than the NBB. See Rule 7.16P(f)(5)(A).
7 See Rule 7.16P(f)(5)(F).
8 The Exchange proposes a non-substantive
amendment to delete the term ‘‘Order’’ in Rule
7.16P(f)(5)(G) as such term is redundant of the term
ISO, which includes the term ‘‘Order.’’
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(5).
E:\FR\FM\11OCN1.SGM
11OCN1
]]>Agencies
[Federal Register Volume 81, Number 196 (Tuesday, October 11, 2016)]
[Notices]
[Pages 70224-70226]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-24422]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-79037; File No. SR-BOX-2016-46]
Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of a Proposed Rule Change To Make
Non-Controversial Amendments to Its Rules
October 4, 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 September 22, 2016, BOX Options Exchange LLC (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 self-regulatory organization. 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 make non-controversial amendments to its
rules. The text of the proposed rule change is available from the
principal office of the Exchange, at the Commission's Public Reference
Room and also on the Exchange's Internet Web site at https://boxexchange.com.
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, 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 self-regulatory organization
has prepared summaries, set forth in Sections A, B, and C below, of the
most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to amend Rule 7130(a) to
clarify that the BOX HSVF is no longer provided to market participants
at no cost. The BOX HSVF is a proprietary product that provides: (i)
Trades and trade cancelation information; (ii) best-ranked price level
to buy and the best-ranked price level to sell; (iii) instrument
summaries (including information such as high, low, and last trade
price and traded volume); (iv) the five best limit prices for each
option instrument; (v) request for Quote messages; \3\ (vi) PIP Order,
Improvement Order and Block Trade Order (Facilitation and Solicitation)
information; \4\ (vii) orders exposed at NBBO; \5\ (viii) instrument
dictionary (e.g., strike price, expiration date, underlying symbol,
price threshold, and minimum trading increment for
[[Page 70225]]
instruments traded on BOX); (ix) options class and instrument status
change notices (e.g., whether an instrument or class is in pre-opening,
continuous trading, closed, halted, or prohibited from trading); (x)
options class opening time; and (xi) Public Customer bid/ask volume at
the best limit.
---------------------------------------------------------------------------
\3\ See Exchange Rules 100(a)(57), 7070(h) and 8050.
\4\ As set forth in Exchange Rules 7150 and 7270, respectively.
\5\ As set forth in Exchange Rules 7130(b)(2) and 8040(d)(6),
respectively.
---------------------------------------------------------------------------
The Exchange recently amended its fees to establish a $750.00 per
month fee for receiving the HSVF.\6\ The Exchange proposes to amend the
language in BOX Rule 7130(a)(2) to reflect this change.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 78565 (August 12,
2016), 81 FR 55251 (August 18, 2016) (SR-BOX-2016-40).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\7\ in general, and Section
6(b)(5) of the Act,\8\ in particular, in that it is designed to promote
just and equitable principles of trade, remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general protect investors and the public interest. The
Exchange believes it is appropriate to make the proposed change to its
rules so that market participants and investors have a clear and
accurate understanding of the meaning of the Exchange's rules. By
removing obsolete rule text, the Exchange is eliminating any potential
for confusion by simplifying the Exchange Rules, ensuring that market
participants, regulators and the public can more easily navigate the
Exchange's Rulebook. The Exchange believes that the proposed rule
change is not unfairly discriminatory because it treats all market
participants equally and will not have an adverse impact on any market
participant.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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. In particular,
the proposed change simply reflects the recent amendments to the BOX
Fee Schedule.\9\ As such, 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.
---------------------------------------------------------------------------
\9\ See supra note 6.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) \10\ of the Act and Rule 19b-
4(f)(6) thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \12\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \13\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has asked the Commission to waive the 30-day operative delay so that
the proposal may become operative immediately upon filing. The Exchange
believes that waiver of the 30-day operative delay is consistent with
the protection of investors and the public interest because it will
allow the Exchange to immediately reflect recent amendments to its fee
schedule, which will eliminate any potential for confusion.\14\ The
Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest.
Therefore, the Commission hereby waives the operative delay and
designates the proposed rule change operative upon filing.\15\
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\12\ 17 CFR 240.19b-4(f)(6).
\13\ 17 CFR 240.19b-4(f)(6)(iii).
\14\ See supra note 6.
\15\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-BOX-2016-46 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-BOX-2016-46. 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-BOX-
[[Page 70226]]
2016-46, and should be submitted on or before November 1, 2016.
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\16\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-24422 Filed 10-7-16; 8:45 am]
BILLING CODE 8011-01-P
