Self-Regulatory Organizations; NASDAQ BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 9400 To Include a Cross-Reference, 79534-79536 [2016-27151]
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79534
Federal Register / Vol. 81, No. 219 / Monday, November 14, 2016 / Notices
Dated at Rockville, Maryland, this 4th day
of November, 2016.
For the U.S. Nuclear Regulatory
Commission.
Brian W. Smith,
Deputy Director, Division of Fuel Cycle Safety,
Safeguards, and Environmental Review,
Office of Nuclear Material Safety and
Safeguards.
[FR Doc. 2016–27353 Filed 11–10–16; 8:45 am]
BILLING CODE 7590–01–P
OVERSEAS PRIVATE INVESTMENT
CORPORATION
Sunshine Act Meeting Notice
Thursday, December 8,
2016, 2 p.m. (OPEN Portion); 2:15 p.m.
(CLOSED Portion).
PLACE: Offices of the Corporation,
Twelfth Floor Board Room, 1100 New
York Avenue NW., Washington, DC.
STATUS: Meeting OPEN to the Public
from 2 p.m. to 2:15 p.m. Closed portion
will commence at 2:15 p.m. (approx.).
MATTERS TO BE CONSIDERED:
1. President’s Report
2. Minutes of the Open Session of the
September 15, 2016 Board of
Directors Meeting
TIME AND DATE:
FURTHER MATTERS TO BE CONSIDERED
(Closed to the Public 2:15 p.m.):
1. Insurance Project—Jordan
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3. Finance Project—Africa, South Asia
4. Finance Project—Africa
5. Minutes of the Closed Session of the
September 15, 2016 Board of
Directors Meeting
6. Reports
7. Pending Projects
CONTACT PERSON FOR MORE INFORMATION:
Information on the meeting may be
obtained from Catherine F. I. Andrade at
(202) 336–8768, or via email at
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Dated: November 9, 2016.
Catherine F. I. Andrade,
Corporate Secretary, Overseas Private
Investment Corporation.
[FR Doc. 2016–27439 Filed 11–9–16; 4:15 pm]
BILLING CODE 3210–01–P
POSTAL REGULATORY COMMISSION
mstockstill on DSK3G9T082PROD with NOTICES
[Docket No. CP2017–33]
New Postal Product
Postal Regulatory Commission.
ACTION: Notice.
AGENCY:
The Commission is noticing
recent Postal Service filings for the
Commission’s consideration concerning
SUMMARY:
VerDate Sep<11>2014
17:26 Nov 10, 2016
Jkt 241001
negotiated service agreements. This
notice informs the public of the filing,
invites public comment, and takes other
administrative steps.
DATES: Comments are due: November
15, 2016
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
INFORMATION CONTACT section by
telephone for advice on filing
alternatives.
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)
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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.
II. Docketed Proceeding(s)
1. Docket No(s).: CP2017–33; 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:
November 4, 2016; Filing Authority: 39
CFR 3015.5; Public Representative:
Lawrence Fenster; Comments Due:
November 15, 2016.
This notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
[FR Doc. 2016–27228 Filed 11–10–16; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79241; File No. SR–BX–
2016–056]
Self-Regulatory Organizations;
NASDAQ BX, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 9400 To
Include a Cross-Reference
November 4, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 2 thereunder,
notice is hereby given that, on October
25, 2016, NASDAQ BX, Inc. (‘‘BX’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 9400, entitled ‘‘Expedited Client
Suspension Proceeding’’ to include a
cross-reference for clarification.
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\14NON1.SGM
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Federal Register / Vol. 81, No. 219 / Monday, November 14, 2016 / Notices
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaq.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
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 Exchange is filing this proposal to
amend Rule 9400, entitled ‘‘Expedited
Client Suspension Proceeding’’ to
include a cross-reference Chapter III,
Section 16, entitled ‘‘Disruptive Quoting
and Trading Activity Prohibited’’ within
Rule 9400. The Exchange filed a rule
change to adopt an options rule,
identical to Rule 2170, which relates to
disruptive quoting and trading activity.3
In that rule change, it stated that ‘‘[t]he
Exchange will initiate disciplinary
action for violations of Chapter III,
Section 16, pursuant to Rule 9400.’’ 4 At
that time, the Exchange inadvertently
did not include the cross-references to
Chapter III, Section 16 within Rule
9400. The Exchange proposes to add
references to Chapter III, Section 16
within Rule 9400 for clarity. This rule
change is non-controversial.
mstockstill on DSK3G9T082PROD with NOTICES
Background
The Exchange filed a rule change to
adopt an options rule to clearly prohibit
disruptive quoting and trading activity
on the Exchange and to permit the
Exchange to take prompt action to
suspend members or their clients that
violate such rule pursuant to Rule
9400.5 The Exchange had previously
3 See Securities and Exchange Release No. 78107
(June 21, 2016), 81 FR 41619 (June 27, 2016) (SR–
BX–2016–036).
4 See Securities and Exchange Release No. 78107
(June 21, 2016), 81 FR 41619, 41623 (June 27, 2016)
(SR–BX–2016–036). Rule 9400 is located within the
Code of Procedure rules which apply to both
equities and options violations.
5 See note 3.
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17:26 Nov 10, 2016
Jkt 241001
adopted Rule 9400 to set forth
procedures for issuing suspension
orders, immediately prohibiting a
member from conducting continued
disruptive quoting and trading activity
on the Exchange.6 Rule 9400 provides
the Exchange the authority to order a
member to cease and desist from
providing access to the Exchange to a
client of the member that is conducting
disruptive quoting and trading activity
in violation of Rule 2170. The Exchange
also previously adopted Rule 2400 to
specifically define and prohibit
disruptive equities quoting and trading
activity on the Exchange.7 Chapter III,
Section 16 is identical to Rule 2400,
however applicable to options.
Similarly, Chapter III, Section 16
prohibits members from engaging in or
facilitating disruptive options quoting
and trading activity on the Exchange.
The Exchange proposes to simply add
the cross-references for the options rules
alongside the equity rule for clarity.
This rule change is consistent with the
intent of the rule proposal which
adopted Chapter III, Section 16.8
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act,9 in general, and furthers the
objectives of Section 6(b)(5) of the Act,10
in particular, in that the rules of the
Exchange are designed to prevent
fraudulent and manipulative acts and
practices, it [sic] is designed to promote
just and equitable principles of trade, 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 by making clear within
Rule 9400 that violations of Chapter III,
Section 16 are subject to disciplinary
action pursuant to Rule 9400 as stated
in the Exchange’s rule filing.11 This
cross-reference will provide clarity to
members and ease of reference to the
corresponding options rule. The
proposed rule change is noncontroversial. The addition of the crossreference is for clarity.
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
6 See Securities and Exchange Release No. 77914
(May 25, 2016), 81 FR 35106 (June 1, 2016) (SR–
BX–2016–028).
7 See note 3.
8 See note 3.
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(5).
11 See note 4.
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79535
of the purposes of the Act. This noncontroversial rule change will merely
add the reference to the options rule
next to the current reference for the
equity rule to make clear, as noted in
the rule changes, that violations of
either rule relating to disruptive quoting
and trading activity, will be disciplined
pursuant to Rule 9400.
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
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) of the Act 12 and Rule 19b–
4(f)(6) thereunder.13
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 14 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6) 15
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange believes
that waiving the 30-day operative delay
is consistent with the protection of
investors and the public interest
because it would allow the Exchange to
immediately add the cross-reference
within Rule 9400 which would provide
clarity to members. The Exchange notes
that a rule change to permit Rule 9400
to apply to violations of Chapter III,
Section 16 was previously filed with the
Commission. However, that filing failed
to amend the rule text of Rule 9400 and
only discussed the intended application
of Rule 9400 to violations of Chapter III,
Section 16 in the purpose section of the
Form 19b–4.
The text of the rule governs what
actions the Exchange can take.16
However, because the description in the
original filing sets forth what the
Exchange intended the rule to cover,
and this proposed rule change corrects
an oversight by the Exchange in the
12 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
14 17 CFR 240.19b–4(f)(6).
15 17 CFR 240.19b–4(f)(6).
16 See Section 6(b)(1) of the Act. 15 U.S.C.
78f(b)(1).
13 17
E:\FR\FM\14NON1.SGM
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79536
Federal Register / Vol. 81, No. 219 / Monday, November 14, 2016 / Notices
previous filing, the Commission
believes that waiving the 30-day
operative delay17 is consistent with the
protection of investors and the public
interest and designates the proposal
operative on filing.
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 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–
BX–2016–056 on the subject line.
mstockstill on DSK3G9T082PROD with NOTICES
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–BX–2016–056. 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
17 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).
VerDate Sep<11>2014
17:26 Nov 10, 2016
Jkt 241001
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 Number SR–BX–
2016–056 and should be submitted on
or before December 5, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Brent J. Fields,
Secretary.
[FR Doc. 2016–27151 Filed 11–10–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79251; File No. SR–
NASDAQ–2016–149]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend the
Exchange’s Market Access and
Routing Subsidy Program
November 7, 2016.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
31, 2016, The NASDAQ Stock Market
LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III, below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
Exchange’s transaction fees at Chapter
XV, Section 2 entitled ‘‘NASDAQ
Options Market—Fees and Rebates,’’
which governs pricing for Nasdaq
Participants using the NASDAQ Options
18 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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Fmt 4703
Sfmt 4703
Market (‘‘NOM’’), Nasdaq’s facility for
executing and routing standardized
equity and index options. The Exchange
proposes to amend its subsidy program,
the Market Access and Routing Subsidy
or ‘‘MARS,’’ for NOM Participants that
provide certain order routing
functionalities 3 to other NOM
Participants and/or use such
functionalities themselves.
While changes to the Pricing
Schedule pursuant to this proposal are
effective upon filing, the Exchange has
designated these changes to be operative
on November 1, 2016.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaq.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
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
NOM proposes to amend the MARS
subsidy program which pays a subsidy
to NOM Participants that provide
certain order routing functionalities to
other NOM Participants and/or use such
functionalities themselves. Generally,
under MARS, the Exchange pays
participating NOM Participants to
subsidize their costs of providing
routing services to route orders to NOM.
The Exchange believes that MARS will
continue to attract higher volumes of
electronic equity and ETF options
volume to the Exchange from non-NOM
3 The order routing functionalities permit a NOM
Participant to provide access and connectivity to
other Participants as well as utilize such access for
themselves. The Exchange notes that one NOM
Participant is eligible for payments under MARS,
while another NOM Participant might potentially
be liable for transaction charges associated with the
execution of the order, because those orders were
delivered to the Exchange through a NOM
Participant’s connection to the Exchange and that
Participant qualified for the MARS Payment.
E:\FR\FM\14NON1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 219 (Monday, November 14, 2016)]
[Notices]
[Pages 79534-79536]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27151]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-79241; File No. SR-BX-2016-056]
Self-Regulatory Organizations; NASDAQ BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend Rule 9400
To Include a Cross-Reference
November 4, 2016.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that, on October 25, 2016, NASDAQ BX, Inc. (``BX'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change as described in Items I and II
below, which Items have been prepared by the Exchange. The Commission
is publishing this notice to solicit comments on the proposed rule
change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Rule 9400, entitled ``Expedited
Client Suspension Proceeding'' to include a cross-reference for
clarification.
[[Page 79535]]
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaq.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 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 Exchange is filing this proposal to amend Rule 9400, entitled
``Expedited Client Suspension Proceeding'' to include a cross-reference
Chapter III, Section 16, entitled ``Disruptive Quoting and Trading
Activity Prohibited'' within Rule 9400. The Exchange filed a rule
change to adopt an options rule, identical to Rule 2170, which relates
to disruptive quoting and trading activity.\3\ In that rule change, it
stated that ``[t]he Exchange will initiate disciplinary action for
violations of Chapter III, Section 16, pursuant to Rule 9400.'' \4\ At
that time, the Exchange inadvertently did not include the cross-
references to Chapter III, Section 16 within Rule 9400. The Exchange
proposes to add references to Chapter III, Section 16 within Rule 9400
for clarity. This rule change is non-controversial.
---------------------------------------------------------------------------
\3\ See Securities and Exchange Release No. 78107 (June 21,
2016), 81 FR 41619 (June 27, 2016) (SR-BX-2016-036).
\4\ See Securities and Exchange Release No. 78107 (June 21,
2016), 81 FR 41619, 41623 (June 27, 2016) (SR-BX-2016-036). Rule
9400 is located within the Code of Procedure rules which apply to
both equities and options violations.
---------------------------------------------------------------------------
Background
The Exchange filed a rule change to adopt an options rule to
clearly prohibit disruptive quoting and trading activity on the
Exchange and to permit the Exchange to take prompt action to suspend
members or their clients that violate such rule pursuant to Rule
9400.\5\ The Exchange had previously adopted Rule 9400 to set forth
procedures for issuing suspension orders, immediately prohibiting a
member from conducting continued disruptive quoting and trading
activity on the Exchange.\6\ Rule 9400 provides the Exchange the
authority to order a member to cease and desist from providing access
to the Exchange to a client of the member that is conducting disruptive
quoting and trading activity in violation of Rule 2170. The Exchange
also previously adopted Rule 2400 to specifically define and prohibit
disruptive equities quoting and trading activity on the Exchange.\7\
Chapter III, Section 16 is identical to Rule 2400, however applicable
to options. Similarly, Chapter III, Section 16 prohibits members from
engaging in or facilitating disruptive options quoting and trading
activity on the Exchange.
---------------------------------------------------------------------------
\5\ See note 3.
\6\ See Securities and Exchange Release No. 77914 (May 25,
2016), 81 FR 35106 (June 1, 2016) (SR-BX-2016-028).
\7\ See note 3.
---------------------------------------------------------------------------
The Exchange proposes to simply add the cross-references for the
options rules alongside the equity rule for clarity. This rule change
is consistent with the intent of the rule proposal which adopted
Chapter III, Section 16.\8\
---------------------------------------------------------------------------
\8\ See note 3.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\9\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\10\ in particular, in that the rules of the
Exchange are designed to prevent fraudulent and manipulative acts and
practices, it [sic] is designed to promote just and equitable
principles of trade, 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 by making clear within
Rule 9400 that violations of Chapter III, Section 16 are subject to
disciplinary action pursuant to Rule 9400 as stated in the Exchange's
rule filing.\11\ This cross-reference will provide clarity to members
and ease of reference to the corresponding options rule. The proposed
rule change is non-controversial. The addition of the cross-reference
is for clarity.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(5).
\11\ See note 4.
---------------------------------------------------------------------------
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. This non-controversial rule
change will merely add the reference to the options rule next to the
current reference for the equity rule to make clear, as noted in the
rule changes, that violations of either rule relating to disruptive
quoting and trading activity, will be disciplined pursuant to Rule
9400.
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
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) of the Act \12\ and Rule 19b-
4(f)(6) thereunder.\13\
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \14\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6) \15\ permits the Commission to
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because it would allow
the Exchange to immediately add the cross-reference within Rule 9400
which would provide clarity to members. The Exchange notes that a rule
change to permit Rule 9400 to apply to violations of Chapter III,
Section 16 was previously filed with the Commission. However, that
filing failed to amend the rule text of Rule 9400 and only discussed
the intended application of Rule 9400 to violations of Chapter III,
Section 16 in the purpose section of the Form 19b-4.
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\14\ 17 CFR 240.19b-4(f)(6).
\15\ 17 CFR 240.19b-4(f)(6).
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The text of the rule governs what actions the Exchange can
take.\16\ However, because the description in the original filing sets
forth what the Exchange intended the rule to cover, and this proposed
rule change corrects an oversight by the Exchange in the
[[Page 79536]]
previous filing, the Commission believes that waiving the 30-day
operative delay\17\ is consistent with the protection of investors and
the public interest and designates the proposal operative on filing.
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\16\ See Section 6(b)(1) of the Act. 15 U.S.C. 78f(b)(1).
\17\ 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 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-BX-2016-056 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-BX-2016-056. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for 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-BX-2016-056 and should be
submitted on or before December 5, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
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\18\ 17 CFR 200.30-3(a)(12).
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Brent J. Fields,
Secretary.
[FR Doc. 2016-27151 Filed 11-10-16; 8:45 am]
BILLING CODE 8011-01-P
