Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Make Non-Substantive Changes to the Fee Schedule, 88277-88279 [2016-29284]
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Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices
asabaliauskas on DSK3SPTVN1PROD with NOTICES
0001; telephone: 301–415–2045; email:
Seung.Min@nrc.gov.
SUPPLEMENTARY INFORMATION:
I. Background
The NRC issues LR–ISGs to
communicate insights and lessons
learned and to address emergent issues
not covered in existing license renewal
guidance documents such as the GALL
Report, NUREG–1801, Revision 2
(December 2010); and the SRP–LR,
NUREG–1800, Revision 2 (December
2010), which are available in ADAMS
under Accession Nos. ML103490041
and ML103490036, respectively. The
NRC staff and stakeholders may use the
guidance in an LR–ISG document before
it is incorporated into a license renewal
guidance document revision. The NRC
staff issues LR–ISGs in accordance with
the LR–ISG Process, Revision 2
(ADAMS Accession No. ML100920158),
for which a notice of availability was
published in the Federal Register on
June 22, 2010 (75 FR 35510).
The NRC staff has developed LR–ISG–
2016–01 (ADAMS Accession No.
ML16237A383) to describe changes to
the aging management guidance for
various steam generator components
within the scope of part 54 of title 10
of the Code of Federal Regulations (10
CFR), ‘‘Requirements for Renewal of
Operating Licenses for Nuclear Power
Plants.’’ Specifically, this LR–ISG
addresses the changes to aging
management guidance for managing: (a)
Cracking due to primary water stress
corrosion cracking in divider plate
assemblies and tube-to-tubesheet welds,
and (b) loss of material due to boric acid
corrosion in steam generator heads
(interior surfaces) and tubesheets
(primary side). In addition, changes are
made to the associated AMR items in
the GALL Report and SRP–LR. This LR–
ISG also revises the Final Safety
Analysis Report supplement for GALL
Report AMP XI.M19, ‘‘Steam
Generators’’ that is documented in Table
3.0–1, ‘‘FSAR Supplement for Aging
Management of Applicable Systems’’ of
the SRP–LR.
On June 7, 2016, (81 FR 36612) the
NRC requested public comments on
draft LR–ISG–2016–01 (ADAMS
Accession No. ML16102A268). The NRC
received comments from the Nuclear
Energy Institute by letter dated July 7,
2016 (ADAMS Accession No.
ML16194A026). No other comments
were submitted. The NRC considered
those comments in developing the final
LR–ISG. Detailed responses to the
comments can be found in Appendix C
of the final LR–ISG.
The final LR–ISG–2016–01 is
approved for NRC staff and stakeholder
VerDate Sep<11>2014
17:54 Dec 06, 2016
Jkt 241001
use and will be incorporated into the
next revision of the NRC’s license
renewal guidance document. These
changes provide one acceptable
approach for managing the associated
aging effects for steam generator
components within the scope of the
license renewal rule (10 CFR part 54). A
licensee may cite LR–ISG–2016–01 in
its license renewal application until the
guidance in this LR–ISG is incorporated
into the license renewal guidance
documents (i.e., GALL Report and SRP–
LR).
The staff also plans to consider the
information in this LR–ISG and make
corresponding changes when finalizing
the aging management guidance for the
subsequent license renewal period (i.e.,
up to 80 years of operation), which is
documented in draft NUREG–2191,
draft ‘‘Generic Aging Lessons Learned
for Subsequent License Renewal
Report’’ (GALL–SLR) (ADAMS
Accession Nos. ML15348A111 and
ML15348A153), and draft NUREG–
2192, draft ‘‘Standard Review Plan for
Review of Subsequent License Renewal
for Nuclear Power Plants’’ (SRP–SLR)
(ADAMS Accession No. ML15348A265).
II. Congressional Review Act
This LR–ISG is a rule as defined in
the Congressional Review Act (5 U.S.C.
801–808). However, the Office of
Management and Budget has not found
it to be a major rule as defined in the
Congressional Review Act.
III. Backfitting
The NRC intends to use the guidance
in this LR–ISG when reviewing current
and future license renewal applications.
Issuance of this final LR–ISG does not
constitute backfitting as defined in 10
CFR 50.109 (the Backfit Rule). As
discussed in the ‘‘Backfitting’’ section of
the final LR–ISG–2016–01, the
backfitting provisions in 10 CFR 50.109
are not applicable to an applicant for a
renewed license. Therefore, issuance of
this LR ISG would not constitute
backfitting for licensees currently in the
license renewal process as defined in 10
CFR 50.109(a)(1). This guidance is
nonbinding and the LR–ISG does not
require current holders of renewed
licenses to take any action (i.e.,
programmatic or plant hardware
changes for managing the associated
aging effects for components within the
scope of this LR–ISG). The current
holders of renewed licenses could treat
the information presented in this LR–
ISG as ‘‘operating experience’’
information and consider this
information to ensure that relevant
AMPs are, and will remain, effective.
However, the NRC could also use the
PO 00000
Frm 00081
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Sfmt 4703
88277
LR–ISG in evaluating voluntary,
licensee-initiated changes to previously
approved AMPs.
Dated at Rockville, Maryland, this 30th day
of November, 2016.
For the Nuclear Regulatory Commission.
Benjamin G. Beasley,
Acting Deputy Director, Division of License
Renewal, Office of Nuclear Reactor
Regulation.
[FR Doc. 2016–29363 Filed 12–6–16; 8:45 am]
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79437; File No. SR–
BatsBZX–2016–78]
Self-Regulatory Organizations; Bats
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Make NonSubstantive Changes to the Fee
Schedule
December 1, 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
29, 2016, Bats BZX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘BZX’’) 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).
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
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).
2 17
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88278
Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices
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
asabaliauskas on DSK3SPTVN1PROD with NOTICES
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
rebates. Specifically, the Exchange
proposes to:
• Alphabetize defined terms under
the ‘‘Definitions’’ section; 6
• capitalize the title of the column
setting forth each tier’s rate under
footnotes 1, 2, 3, 4, 11, 12, 13, and 14;
• amend the name of footnote 2 from
‘‘Tiers’’ to ‘‘Tier’’ to connote the
footnote’s single tier;
• amend the title of the first column
of footnote 1, 2, 3, and 14 to simply state
‘‘Tier’’ as the deleted language is
redundant with the respective tier’s title
or with the description of the tier’s
criteria;
6 The Exchange does not proposes to alphabetize
the definitions under the Market Data section of its
fee schedule as those terms are generally grouped
with similar terms.
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17:54 Dec 06, 2016
Jkt 241001
• amend the title of the column
setting forth the tier’s rate under
footnote 13 to simply state ‘‘Fee Per
Share to Remove’’ or ‘‘Rebate Per Share
to Add’’ as applicable. Renaming these
[sic] column is intended to clearly
indicate whether the footnote provides
a fee and/or a rebate, and whether that
enhanced pricing applies to orders
which add or remove liquidity. In
renaming these columns, the Exchange
also proposes to remove certain other
descriptive language as such language is
redundant and set forth in the tier’s title
and list of its applicable fee codes;
• amend the name under first column
of the tiers listed under footnotes 2, 3,
4, 11, 12, 13 and 14 to simply state
‘‘Tier’’ or ‘‘Tier 1’’, Tier 2’’, etc.;
• replace the phrases ‘‘is equal to or
greater than’’, ‘‘is at least’’, ‘‘of at least’’
and ‘‘that is . . . or more’’ with ‘‘≥’’ in
all required criteria cells throughout the
fee schedule; and
• 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 format of the tier’s criteria with its
affiliate exchanges.
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.7
Specifically, the Exchange believes that
the proposed rule change is consistent
with Sections 6(b)(4) of the Act,8 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
7 15
8 15
PO 00000
U.S.C. 78f.
U.S.C. 78f(b)(4).
Frm 00082
Fmt 4703
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 proposed rule change will not
impose any burden on competition as
the changes are purely clerical and do
not amend any 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 9 and paragraph (f) of Rule
19b–4 thereunder.10 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.
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–
BatsBZX–2016–78 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
10 17
Sfmt 4703
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Federal Register / Vol. 81, No. 235 / Wednesday, December 7, 2016 / Notices
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
All submissions should refer to File
Number SR–BatsBZX–2016–78. 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–
BatsBZX–2016–78, and should be
submitted on or before December 28,
2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Brent J. Fields,
Secretary.
[FR Doc. 2016–29284 Filed 12–6–16; 8:45 am]
asabaliauskas on DSK3SPTVN1PROD with NOTICES
BILLING CODE 8011–01–P
[Release No. 34–79446; File No. SR–BX–
2016–065]
VerDate Sep<11>2014
17:54 Dec 06, 2016
December 1, 2016.
In November 2014, the Commission
approved the RPI Program on a pilot
basis.4 The Program is designed to
attract retail order flow to the Exchange,
and allow such order flow to receive
potential price improvement. The
Program is currently limited to trades
occurring at prices equal to or greater
than $1.00 per share. Under the
Program, a new class of market
participant called a Retail Member
Organization (‘‘RMO’’) is eligible to
submit certain retail order flow (‘‘Retail
Orders’’) 5 to the Exchange. BX members
(‘‘Members’’) are permitted to provide
potential price improvement for Retail
Orders in the form of non-displayed
interest that is priced more aggressively
than the Protected National Best Bid or
Offer (‘‘Protected NBBO’’).6
The Program was approved by the
Commission on a pilot basis running
one-year from the date of
implementation.7 The Commission
approved the Program on November 28,
2014.8 The Exchange implemented the
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
29, 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 seeks to extend the
pilot period for the Exchange’s Retail
Price Improvement (‘‘RPI’’) Program (the
‘‘Program’’), which is set to expire on
December 1, 2016, for a period of one
year, to expire on December 1, 2017.
The Exchange has designated
December 1, 2016 as the date the
proposed rule change becomes effective.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxbx.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
2 17
Jkt 241001
1. Purpose
The purpose of this filing is to extend
the pilot period of the RPI Program,3
currently scheduled to expire on
December 1, 2016 for an additional year,
until December 1, 2017.
1 15
CFR 200.30–3(a)(12).
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Self-Regulatory Organizations;
NASDAQ BX, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Extend the Pilot
Period for the Retail Price
Improvement Program Until December
1, 2017
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.
11 17
88279
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00083
Fmt 4703
Sfmt 4703
Background
3 Securities Exchange Act Release No. 73702
(November 28, 2014), 79 FR 72049 (December 4,
2014) (‘‘RPI Approval Order’’) (SR–BX–2014–048).
4 See id.
5 A ‘‘Retail Order’’ is defined in BX Rule
4780(a)(2) by referencing BX Rule 4702, and BX
Rule 4702(b)(6) says it is an order type with a nondisplay order attribute submitted to the Exchange
by a RMO. A Retail Order must be an agency order,
or riskless principal order that satisfies the criteria
of FINRA Rule 5320.03. The Retail Order must
reflect trading interest of a natural person with no
change made to the terms of the underlying order
of the natural person with respect to price (except
in the case of a market order that is changed to a
marketable limit order) or side of market and that
does not originate from a trading algorithm or any
other computerized methodology.
6 The term Protected Quotation is defined in
Chapter XII, Sec. 1(19) and has the same meaning
as is set forth in Regulation NMS Rule 600(b)(58).
The Protected NBBO is the best-priced protected
bid and offer. Generally, the Protected NBBO and
the national best bid and offer (‘‘NBBO’’) will be the
same. However, a market center is not required to
route to the NBBO if that market center is subject
to an exception under Regulation NMS Rule
611(b)(1) or if such NBBO is otherwise not available
for an automatic execution. In such case, the
Protected NBBO would be the best-priced protected
bid or offer to which a market center must route
interest pursuant to Regulation NMS Rule 611.
7 See RPI Approval Order, supra note 3 at 72053.
8 Id. at 72049.
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]]>Agencies
[Federal Register Volume 81, Number 235 (Wednesday, December 7, 2016)]
[Notices]
[Pages 88277-88279]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29284]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-79437; File No. SR-BatsBZX-2016-78]
Self-Regulatory Organizations; Bats BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To Make
Non-Substantive Changes to the Fee Schedule
December 1, 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 29, 2016, Bats BZX Exchange, Inc. (the ``Exchange'' or
``BZX'') 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).
---------------------------------------------------------------------------
[[Page 88278]]
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
rebates. Specifically, the Exchange proposes to:
Alphabetize defined terms under the ``Definitions''
section; \6\
---------------------------------------------------------------------------
\6\ The Exchange does not proposes to alphabetize the
definitions under the Market Data section of its fee schedule as
those terms are generally grouped with similar terms.
---------------------------------------------------------------------------
capitalize the title of the column setting forth each
tier's rate under footnotes 1, 2, 3, 4, 11, 12, 13, and 14;
amend the name of footnote 2 from ``Tiers'' to ``Tier'' to
connote the footnote's single tier;
amend the title of the first column of footnote 1, 2, 3,
and 14 to simply state ``Tier'' as the deleted language is redundant
with the respective tier's title or with the description of the tier's
criteria;
amend the title of the column setting forth the tier's
rate under footnote 13 to simply state ``Fee Per Share to Remove'' or
``Rebate Per Share to Add'' as applicable. Renaming these [sic] column
is intended to clearly indicate whether the footnote provides a fee
and/or a rebate, and whether that enhanced pricing applies to orders
which add or remove liquidity. In renaming these columns, the Exchange
also proposes to remove certain other descriptive language as such
language is redundant and set forth in the tier's title and list of its
applicable fee codes;
amend the name under first column of the tiers listed
under footnotes 2, 3, 4, 11, 12, 13 and 14 to simply state ``Tier'' or
``Tier 1'', Tier 2'', etc.;
replace the phrases ``is equal to or greater than'', ``is
at least'', ``of at least'' and ``that is . . . or more'' with ``>=''
in all required criteria cells throughout the fee schedule; and
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
format of the tier's criteria with its affiliate exchanges.
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.\7\
Specifically, the Exchange believes that the proposed rule change is
consistent with Sections 6(b)(4) of the Act,\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f.
\8\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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 proposed rule change will
not impose any burden on competition as the changes are purely clerical
and do not amend any 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 \9\ and paragraph (f) of Rule 19b-4
thereunder.\10\ 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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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 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-BatsBZX-2016-78 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange
[[Page 88279]]
Commission, 100 F Street NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-BatsBZX-2016-78. 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-BatsBZX-2016-78, and should
be submitted on or before December 28, 2016.
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\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Brent J. Fields,
Secretary.
[FR Doc. 2016-29284 Filed 12-6-16; 8:45 am]
BILLING CODE 8011-01-P
