Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Substantive Changes to the Fee Schedule, 87993-87995 [2016-29159]
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Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices
All submissions should refer to File
Number SR–BOX–2016–55. 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, on official business
days between the hours of 10:00 a.m.
and 3:00 p.m., located at 100 F Street
NE., Washington, DC 20549. 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–
2016–55 and should be submitted on or
before December 27, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016–29174 Filed 12–5–16; 8:45 am]
BILLING CODE 8011–01–P
mstockstill on DSK3G9T082PROD with NOTICES
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 will hold a closed meeting
on Thursday, December 8, 2016 at 3
p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the closed meeting. Certain
staff members who have an interest in
the matters also may be present.
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:39 Dec 05, 2016
Jkt 241001
Dated: December 1, 2016.
Brent J. Fields,
Secretary.
[FR Doc. 2016–29296 Filed 12–2–16; 11:15 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79430; File No. SR–
BatsBYX–2016–36]
Self-Regulatory Organizations; Bats
BYX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Make NonSubstantive Changes to the Fee
Schedule
November 30, 2016.
SECURITIES AND EXCHANGE
COMMISSION
10 17
The General Counsel of the
Commission, or her designee, has
certified that, in her opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (a)(5), (a)(7),
(a)(9)(ii) and (a)(10), permit
consideration of the scheduled matter at
the closed meeting.
Commissioner Piwowar, as duty
officer, voted to consider the items
listed for the closed meeting in closed
session, and determined that no earlier
notice thereof was possible.
The subject matter of the closed
meeting will be: Institution and
settlement of injunctive actions;
Institution and settlement of
administrative proceedings; Formal
order of investigation; and Other matters
relating to enforcement proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed; please
contact Brent J. Fields from the Office of
the Secretary at (202) 551–5400.
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 November
18, 2016, Bats BYX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BYX’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Exchange has designated the proposed
rule change as one establishing or
changing a member due, fee, or other
charge imposed by the Exchange under
Section 19(b)(3)(A)(ii) of the Act 3 and
Rule 19b–4(f)(2) thereunder,4 which
renders the proposed rule change
effective upon filing with the
Commission. The Commission is
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 filed a proposal to
make several non-substantive changes to
the fee schedule applicable to
Members 5 and non-members of the
Exchange pursuant to Exchange Rules
15.1(a) and (c).
The text of the proposed rule change
is available at the Exchange’s Web site
at www.batstrading.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to make
certain clarifying and non-substantive
changes to its fee schedule in order to
improve formatting, eliminate certain
redundancies, increase overall
readability, and provide users with
straightforward descriptions to augment
overall comprehensibility and usability
of the existing fee schedule. The
Exchange notes that these changes are
purely clerical and do not substantively
amend any fee or rebate, nor do they
alter the manner in which the Exchange
assesses fees or calculates rebates. The
proposed changes are simply intended
to provide greater transparency to
market participants regarding how the
Exchange assesses fees and calculates
4 17
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
87993
CFR 240.19b–4(f)(2).
Member is defined as ‘‘any registered broker
or dealer that has been admitted to membership in
the Exchange.’’ See Exchange Rule 1.5(n).
5A
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87994
Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices
rebates. Specifically, the Exchange
proposes to:
• Capitalize the title of the column
setting forth each tier’s rate under
footnotes 1 and 3;
• amend the title of the column
setting forth each tier’s rate under
footnote2 to simply state ‘‘Fee Per Share
to Add.’’ The fee offered under footnote
2’s Midpoint Peg Tier is available to
orders that yield fee code MM. Fee code
MM is appended to non-displayed
orders that add liquidity using the MidPoint Peg order type.6 In renaming this
column, the Exchange propose to
remove reference to Mid-Point Peg
orders as such language is redundant
and set forth in the tier’s title and list
of its applicable fee code;
• amend the name under first column
of the tiers listed under footnote 1 to
simply state ‘‘Tier 1’’, Tier 2’’ and ‘‘Tier
3’’ as the deleted language is redundant
with the respective tier’s title or with
the description of the tier’s criteria;
• replace the phrase ‘‘equal to or
greater than’’ with ‘‘≥’’ in all required
criteria cells under footnotes 1, 2, and
3;
• amend the description of the
required criteria under the third column
of the tiers to begin with ‘‘Member has
an’’ where applicable. Amending this
description is intended to harmonize
the description of the tier’s criteria with
fee schedules of its affiliate exchanges; 7
• delete a reference to the ROOC
routing strategy, which was previously,
removed from the Exchange’s rulebook.8
The Exchange previously submitted a
proposed rule change for immediate
effectiveness to discontinue the ROOC
routing strategy and to remove
references to the ROOC routing strategy
from its rulebook. The Exchange now
proposes to delete fee code RN and its
rebate, which is appended to orders
routed to the Nasdaq Stock Market LLC
using the ROOC routing strategy and
add liquidity. The Exchange notes since
ceasing to offer the ROOC routing
option, orders routed to Nasdaq and that
add liquidity yield feed code A and
receive a rebate of $0.0015 per share,
which is the same rebate that was
provided under fee code RN.
6 See
Exchange Rule 11.9(c)(9).
Exchange’s affiliates are Bats BZX
Exchange, Inc., Bats EDGA Exchange, Inc. and Bats
BZX Exchange, Inc.
8 See Securities Exchange Act Release N. 75547
(July 29, 2015), 80 FR 46369 (August 4, 2015) (SR–
BYX–2015–33). See also BATS EDGA Exchange and
BYX Exchange Decommissioning ROOC Effective
August 10, 2015, available at https://
cdn.batstrading.com/resources/release_notes/2015/
BATS-EDGA-Exchange-and-BYX-ExchangeDecommissioning-ROOC-Effective-August-102015.pdf.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder that
are applicable to a national securities
exchange, and, in particular, with the
requirements of Section 6 of the Act.9
Specifically, the Exchange believes that
the proposed rule change is consistent
with Sections 6(b)(4) of the Act of the
Act [sic],10 in that it provides for the
equitable allocation of reasonable dues,
fees and other charges among members
and other persons using any facility or
system which the Exchange operates or
controls. The Exchange believes that the
proposed changes are reasonable and
equitable because they are intended to
simplify the Exchange’s fee schedule
and provide greater transparency to
market participants regarding how the
Exchange assesses fees and calculates
rebates. The Exchange notes that these
changes are purely clerical and do not
substantively amend any fee or rebate,
nor do they alter the manner in which
the Exchange assesses fees or calculates
rebates. The Exchange also believes that
the proposal is non-discriminatory
because it applies uniformly to all
Members. Finally, the Exchange
believes that the proposed changes will
make the fee schedule clearer and
eliminate potential investor confusion,
thereby removing impediments to and
perfecting the mechanism of a free and
open market and a national market
system, and, in general, protecting
investors and the public interest.
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.
To the contrary, the Exchange believes
that the [sic] will not impose any
burden on competition as the changes
are purely clerical and do not amend
and [sic] fee or rebate.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
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7 The
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The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any written
comments from members or other
interested parties.
9 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
Frm 00093
Fmt 4703
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–
BatsBYX–2016–36 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–BatsBYX–2016–36. 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
11 15
10 15
PO 00000
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 11 and paragraph (f) of Rule
19b–4 thereunder.12 At any time within
60 days of the filing of the proposed rule
change, the Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
12 17
Sfmt 4703
E:\FR\FM\06DEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
06DEN1
Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices
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–
BatsBYX–2016–36, and should be
submitted on or before December 27,
2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016–29159 Filed 12–5–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79433; File No. SR–
Nasdaq–2016–160]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Chapter VI, Section 5 To Extend the
Penny Pilot Program
November 30, 2016.
mstockstill on DSK3G9T082PROD with NOTICES
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 November
16, 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
Chapter VI, Section 5 (Minimum
Increments),3 of the rules of the
NASDAQ Options Market (‘‘NOM’’) to
extend through June 30, 2017 or the date
of permanent approval, if earlier, the
Penny Pilot Program in options classes
in certain issues (‘‘Penny Pilot’’ or
‘‘Pilot’’), and to change the date when
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 References herein to Chapter and Series refer to
rules of the NASDAQ Options Market (‘‘NOM’’),
unless otherwise noted.
1 15
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17:39 Dec 05, 2016
Jkt 241001
delisted classes may be replaced in the
Penny Pilot.4
The text of the proposed rule change
is set forth below. Proposed new
language is italicized; deleted text is in
brackets.
*
*
*
*
*
NASDAQ Stock Market Rules
Options Rules
*
*
*
*
*
Chapter VI Trading Systems
*
*
*
*
*
Sec. 5 Minimum Increments
(a) The Board may establish minimum
quoting increments for options contracts
traded on NOM. Such minimum
increments established by the Board
will be designated as a stated policy,
practice, or interpretation with respect
to the administration of this Section
within the meaning of Section 19 of the
Exchange Act and will be filed with the
SEC as a rule change for effectiveness
upon filing. Until such time as the
Board makes a change in the
increments, the following principles
shall apply:
(1)—(2) No Change.
(3) For a pilot period scheduled to
expire on [December 31, 2016]June 30,
2017 or the date of permanent approval,
if earlier, if the options series is trading
pursuant to the Penny Pilot program one
(1) cent if the options series is trading
at less than $3.00, five (5) cents if the
options series is trading at $3.00 or
higher, unless for QQQQs, SPY and
IWM where the minimum quoting
increment will be one cent for all series
regardless of price. A list of such
options shall be communicated to
membership via an Options Trader Alert
(‘‘OTA’’) posted on the Exchange’s Web
site.
The Exchange may replace any pilot
issues that have been delisted with the
next most actively traded multiply
listed options classes that are not yet
included in the pilot, based on trading
activity in the previous six months. The
replacement issues may be added to the
pilot on the second trading day
following [July 1, 2016]January 1, 2017.
(4) No Change.
(b) No Change.
*
*
*
*
*
4 The Penny Pilot was established in March 2008
and was last extended in 2016. See Securities
Exchange Act Release Nos. 57579 (March 28, 2008),
73 FR 18587 (April 4, 2008)(SR–NASDAQ–2008–
026); 75283 (June 24, 2015), 80 FR 37347 (June 30,
2015)(SR–NASDAQ–2015–063) (notice of filing and
immediate effectiveness establishing Penny Pilot);
and 78037 (June 10, 2016), 81 FR 39299 (June 16,
2016) (SR–NASDAQ–2016–052) (notice of filing
and immediate effectiveness extending the Penny
Pilot through December 31, 2016).
PO 00000
Frm 00094
Fmt 4703
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87995
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 purpose of this filing is to amend
Chapter VI, Section 5, to extend the
Penny Pilot through June 30, 2017 or the
date of permanent approval, if earlier,5
and to change the date when delisted
classes may be replaced in the Penny
Pilot. The Exchange believes that
extending the Penny Pilot will allow for
further analysis of the Penny Pilot and
a determination of how the program
should be structured in the future.
Under the Penny Pilot, the minimum
price variation for all participating
options classes, except for the Nasdaq100 Index Tracking Stock (‘‘QQQQ’’),
the SPDR S&P 500 Exchange Traded
Fund (‘‘SPY’’) and the iShares Russell
2000 Index Fund (‘‘IWM’’), is $0.01 for
all quotations in options series that are
quoted at less than $3 per contract and
$0.05 for all quotations in options series
that are quoted at $3 per contract or
greater. QQQQ, SPY and IWM are
quoted in $0.01 increments for all
options series. The Penny Pilot is
currently scheduled to expire on
December 31, 2016.
The Exchange proposes to extend the
time period of the Penny Pilot through
June 30, 2017 or the date of permanent
approval, if earlier, and to provide a
revised date for adding replacement
issues to the Penny Pilot. The Exchange
proposes that any Penny Pilot Program
5 The options exchanges in the U.S. that have
pilot programs similar to the Penny Pilot (together
‘‘pilot programs’’) are currently working on a
proposal for permanent approval of the respective
pilot programs.
E:\FR\FM\06DEN1.SGM
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]]>Agencies
[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)]
[Notices]
[Pages 87993-87995]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29159]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-79430; File No. SR-BatsBYX-2016-36]
Self-Regulatory Organizations; Bats BYX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Make
Non-Substantive Changes to the Fee Schedule
November 30, 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 November 18, 2016, Bats BYX Exchange, Inc. (the ``Exchange'' or
``BYX'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Exchange has designated the proposed rule change as one establishing or
changing a member due, fee, or other charge imposed by the Exchange
under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2)
thereunder,\4\ which renders the proposed rule change effective upon
filing with the Commission. The Commission is 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange filed a proposal to make several non-substantive
changes to the fee schedule applicable to Members \5\ and non-members
of the Exchange pursuant to Exchange Rules 15.1(a) and (c).
---------------------------------------------------------------------------
\5\ A Member is defined as ``any registered broker or dealer
that has been admitted to membership in the Exchange.'' See Exchange
Rule 1.5(n).
---------------------------------------------------------------------------
The text of the proposed rule change is available at the Exchange's
Web site at www.batstrading.com, at the principal office of the
Exchange, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant parts of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to make certain clarifying and non-
substantive changes to its fee schedule in order to improve formatting,
eliminate certain redundancies, increase overall readability, and
provide users with straightforward descriptions to augment overall
comprehensibility and usability of the existing fee schedule. The
Exchange notes that these changes are purely clerical and do not
substantively amend any fee or rebate, nor do they alter the manner in
which the Exchange assesses fees or calculates rebates. The proposed
changes are simply intended to provide greater transparency to market
participants regarding how the Exchange assesses fees and calculates
[[Page 87994]]
rebates. Specifically, the Exchange proposes to:
Capitalize the title of the column setting forth each
tier's rate under footnotes 1 and 3;
amend the title of the column setting forth each tier's
rate under footnote2 to simply state ``Fee Per Share to Add.'' The fee
offered under footnote 2's Midpoint Peg Tier is available to orders
that yield fee code MM. Fee code MM is appended to non-displayed orders
that add liquidity using the Mid-Point Peg order type.\6\ In renaming
this column, the Exchange propose to remove reference to Mid-Point Peg
orders as such language is redundant and set forth in the tier's title
and list of its applicable fee code;
---------------------------------------------------------------------------
\6\ See Exchange Rule 11.9(c)(9).
---------------------------------------------------------------------------
amend the name under first column of the tiers listed
under footnote 1 to simply state ``Tier 1'', Tier 2'' and ``Tier 3'' as
the deleted language is redundant with the respective tier's title or
with the description of the tier's criteria;
replace the phrase ``equal to or greater than'' with
``>='' in all required criteria cells under footnotes 1, 2, and 3;
amend the description of the required criteria under the
third column of the tiers to begin with ``Member has an'' where
applicable. Amending this description is intended to harmonize the
description of the tier's criteria with fee schedules of its affiliate
exchanges; \7\
---------------------------------------------------------------------------
\7\ The Exchange's affiliates are Bats BZX Exchange, Inc., Bats
EDGA Exchange, Inc. and Bats BZX Exchange, Inc.
---------------------------------------------------------------------------
delete a reference to the ROOC routing strategy, which was
previously, removed from the Exchange's rulebook.\8\ The Exchange
previously submitted a proposed rule change for immediate effectiveness
to discontinue the ROOC routing strategy and to remove references to
the ROOC routing strategy from its rulebook. The Exchange now proposes
to delete fee code RN and its rebate, which is appended to orders
routed to the Nasdaq Stock Market LLC using the ROOC routing strategy
and add liquidity. The Exchange notes since ceasing to offer the ROOC
routing option, orders routed to Nasdaq and that add liquidity yield
feed code A and receive a rebate of $0.0015 per share, which is the
same rebate that was provided under fee code RN.
---------------------------------------------------------------------------
\8\ See Securities Exchange Act Release N. 75547 (July 29,
2015), 80 FR 46369 (August 4, 2015) (SR-BYX-2015-33). See also BATS
EDGA Exchange and BYX Exchange Decommissioning ROOC Effective August
10, 2015, available at https://cdn.batstrading.com/resources/release_notes/2015/BATS-EDGA-Exchange-and-BYX-Exchange-Decommissioning-ROOC-Effective-August-10-2015.pdf.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the requirements of the Act and the rules and regulations
thereunder that are applicable to a national securities exchange, and,
in particular, with the requirements of Section 6 of the Act.\9\
Specifically, the Exchange believes that the proposed rule change is
consistent with Sections 6(b)(4) of the Act of the Act [sic],\10\ in
that it provides for the equitable allocation of reasonable dues, fees
and other charges among members and other persons using any facility or
system which the Exchange operates or controls. The Exchange believes
that the proposed changes are reasonable and equitable because they are
intended to simplify the Exchange's fee schedule and provide greater
transparency to market participants regarding how the Exchange assesses
fees and calculates rebates. The Exchange notes that these changes are
purely clerical and do not substantively amend any fee or rebate, nor
do they alter the manner in which the Exchange assesses fees or
calculates rebates. The Exchange also believes that the proposal is
non-discriminatory because it applies uniformly to all Members.
Finally, the Exchange believes that the proposed changes will make the
fee schedule clearer and eliminate potential investor confusion,
thereby removing impediments to and perfecting the mechanism of a free
and open market and a national market system, and, in general,
protecting investors and the public interest.
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\9\ 15 U.S.C. 78f.
\10\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended. To
the contrary, the Exchange believes that the [sic] will not impose any
burden on competition as the changes are purely clerical and do not
amend and [sic] fee or rebate.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \11\ and paragraph (f) of Rule 19b-4
thereunder.\12\ At any time within 60 days of the filing of the
proposed rule change, the Commission summarily may temporarily suspend
such rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act.
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f).
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IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-BatsBYX-2016-36 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-BatsBYX-2016-36. 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
[[Page 87995]]
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-BatsBYX-2016-36, and should
be submitted on or before December 27, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-29159 Filed 12-5-16; 8:45 am]
BILLING CODE 8011-01-P
