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 Equity Options Fee Schedule, 88713-88714 [2016-29387]
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Federal Register / Vol. 81, No. 236 / Thursday, December 8, 2016 / Notices
sradovich on DSK3GMQ082PROD with NOTICES
8. Docket No(s).: MC2017–31 and
CP2017–56; Filing Title: Request of the
United States Postal Service to Add
Priority Mail Contract 264 to
Competitive Product List and Notice of
Filing (Under Seal) of Unredacted
Governors’ Decision, Contract, and
Supporting Data; Filing Acceptance
Date: December 2, 2016; Filing
Authority: 39 U.S.C. 3642 and 39 CFR
3020.30 et seq.; Public Representative:
Jennaca D. Upperman; Comments Due:
December 13, 2016.
9. Docket No(s).: MC2017–32 and
CP2017–57; Filing Title: Request of the
United States Postal Service to Add
Priority Mail Contract 265 to
Competitive Product List and Notice of
Filing (Under Seal) of Unredacted
Governors’ Decision, Contract, and
Supporting Data; Filing Acceptance
Date: December 2, 2016; Filing
Authority: 39 U.S.C. 3642 and 39 CFR
3020.30 et seq.; Public Representative:
Jennaca D. Upperman; Comments Due:
December 13, 2016.
10. Docket No(s).: MC2017–33 and
CP2017–58; Filing Title: Request of the
United States Postal Service to Add
Priority Mail Express, Priority Mail &
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to Competitive Product List and Notice
of Filing (Under Seal) of Unredacted
Governors’ Decision, Contract, and
Supporting Data; Filing Acceptance
Date: December 2, 2016; Filing
Authority: 39 U.S.C. 3642 and 39 CFR
3020.30 et seq.; Public Representative:
Lyudmila Y. Bzhilyanskaya; Comments
Due: December 14, 2016.
11. Docket No(s).: MC2017–34 and
CP2017–59; Filing Title: Request of the
United States Postal Service to Add
First-Class Package Service Contract 67
to Competitive Product List and Notice
of Filing (Under Seal) of Unredacted
Governors’ Decision, Contract, and
Supporting Data; Filing Acceptance
Date: December 2, 2016; Filing
Authority: 39 U.S.C. 3642 and 39 CFR
3020.30 et seq.; Public Representative:
Lyudmila Y. Bzhilyanskaya; Comments
Due: December 14, 2016.
This notice will be published in the
Federal Register.
Stacy L. Ruble,
Secretary.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79457; File No. SR–
BatsBZX–2016–79]
Self-Regulatory Organizations; Bats
BZX Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of a
Proposed Rule Change To Make NonSubstantive Changes to the Equity
Options Fee Schedule
December 2, 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 certain non-substantive and
clarifying changes to the fee schedule
applicable to Members 5 and nonmembers 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
[FR Doc. 2016–29425 Filed 12–7–16; 8:45 am]
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).
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88713
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 modify its
fee schedule applicable to the
Exchange’s equity options platform
(‘‘BZX Options’’) 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
• amend criteria for Tier 3 under
footnote 5 to add a zero after 2.5% to
ensure that it is represented to the
hundredths decimal point, like all other
percentages included in the fee
schedule;
• ensure each tier requiring multiple
criteria is conjoined using ‘‘; and’’ to
clarify that all of a tier’s criteria must be
satisfied to receive the applicable rate;
• amend the title of the column
setting forth each tier’s rate to simply
state ‘‘Fee Per Contract to Remove’’,
‘‘Fee Per Contract to Add’’ or ‘‘Rebate
Per Contract to Add’’ as applicable.
Renaming these 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;
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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Federal Register / Vol. 81, No. 236 / Thursday, December 8, 2016 / Notices
sradovich on DSK3GMQ082PROD with NOTICES
• amend the name under first column
of the tiers listed under footnotes 1, 3,
4, 5, 12, and 13 to simply state ‘‘Tier 1’’,
Tier 2’’ etc. 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’’ and ‘‘greater than or equal
to’’ with ‘‘≥’’ in all required criteria cells
under footnotes 1, 2, 3, 4, 5, 6, 7, 8, 9,
10, 11, 12, and 13; and
• amend the NBBO Setter Tier under
footnote 4 to specify at the top of the
footnote that the additional rebates
provided by the tier are only applicable
to orders that establish a new National
Best Bid or Offer (‘‘NBBO’’) and to
delete such language from each tier’s
criteria.
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.
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–2016–79 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–BatsBZX–2016–79. 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–2016–79, and should be
submitted on or before December 29,
2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016–29387 Filed 12–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–79458; File No. SR–NYSE–
2016–69]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Amending
Chapter Nine of the NYSE Listed
Company Manual
December 2, 2016.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
November 23, 2016, New York Stock
Exchange LLC (‘‘NYSE’’ or the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
7 15
8 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
VerDate Sep<11>2014
17:28 Dec 07, 2016
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
10 17
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]]>Agencies
[Federal Register Volume 81, Number 236 (Thursday, December 8, 2016)]
[Notices]
[Pages 88713-88714]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-29387]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-79457; File No. SR-BatsBZX-2016-79]
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 Equity Options Fee Schedule
December 2, 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 certain non-substantive and
clarifying 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 modify its fee schedule applicable to the
Exchange's equity options platform (``BZX Options'') 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.
---------------------------------------------------------------------------
amend criteria for Tier 3 under footnote 5 to add a zero
after 2.5% to ensure that it is represented to the hundredths decimal
point, like all other percentages included in the fee schedule;
ensure each tier requiring multiple criteria is conjoined
using ``; and'' to clarify that all of a tier's criteria must be
satisfied to receive the applicable rate;
amend the title of the column setting forth each tier's
rate to simply state ``Fee Per Contract to Remove'', ``Fee Per Contract
to Add'' or ``Rebate Per Contract to Add'' as applicable. Renaming
these 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;
[[Page 88714]]
amend the name under first column of the tiers listed
under footnotes 1, 3, 4, 5, 12, and 13 to simply state ``Tier 1'', Tier
2'' etc. 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'' and
``greater than or equal to'' with ``>='' in all required criteria cells
under footnotes 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, and 13; and
amend the NBBO Setter Tier under footnote 4 to specify at
the top of the footnote that the additional rebates provided by the
tier are only applicable to orders that establish a new National Best
Bid or Offer (``NBBO'') and to delete such language from each tier's
criteria.
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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------
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-2016-79 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-BatsBZX-2016-79. 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-2016-79, and should
be submitted on or before December 29, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2016-29387 Filed 12-7-16; 8:45 am]
BILLING CODE 8011-01-P
