Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 6145 

8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(b)(4) and (5). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f). 

12 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

are applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6 of the Act.8

Specifically, the Exchange believes that 

the proposed rule change is consistent 

with Section 6(b)(4) and 6(b)(5) of the 

Act,9 in that it provides for the equitable 

allocation of reasonable dues, fees and 

other charges among issuers and it does 

not unfairly discriminate between 

customers, issuers, brokers or dealers. 

The Exchange believes that the 

proposed changes are a reasonable, 

equitable, and non-discriminatory 

allocation of fees to issuers because the 

proposal is designed only to amend the 

timing and method with which issuers 

are billed for the application fee for 

ETPs and not to make any changes to 

the amount of the $5,000 application 

fee. Further, the proposal will benefit all 

ETP issuers because it will allow them 

to pay their application fee at a later 

date than they are required to pay the 

application fee today. The Exchange 

also notes that the proposed changes 

will apply equally to all issuers that list 

ETPs on the Exchange. Based on the 

foregoing, the Exchange believes that 

the proposed amendment to the billing 

associated with application fees for 

ETPs is a reasonable, equitable, and 

non-discriminatory allocation of fees to 

issuers. 

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. 

With respect to the proposed new 

billing method for the application fee 

related to ETPs, the Exchange does not 

believe that the changes burden 

competition, but instead, enhance 

competition, as it is intended to increase 

the competitiveness of the Exchange’s 

listings program by allowing the 

Exchange to offer ETPs the ability to pay 

their application fees after an ETP is 

already listed and trading on the 

Exchange instead of requiring the issuer 

to pay the application fee upon 

submission of their application. As 

such, the proposal is a competitive 

proposal that is intended to make the 

Exchange a more attractive venue for 

ETP listings, which will, in turn, benefit 

the Exchange and all other BATS-listed 

ETPs. 

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 Act10 and paragraph (f) of Rule 

19b–4 thereunder.11 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 (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

BATS–2015–06 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–BATS–2015–06. 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 (http://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 

offices 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–BATS– 

2015–06, and should be submitted on or 

before February 25, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–02107 Filed 2–3–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74169; File No. SR–CBOE– 

2015–011] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing of a 

Proposed Rule Change To Amend 

Exchange Rules Related to Order 

Tickets 

January 29, 2015. 

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 January 

23, 2015, Chicago Board Options 

Exchange, Incorporated (the ‘‘Exchange’’ 

or ‘‘CBOE’’) filed with the Securities 

and Exchange Commission (the 

‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the 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 its 

rules related to order tickets. The text of 

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6146 Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 

3An ‘‘SPX Combo Order’’ consists of an order to 

purchase or sell one or more SPX option series and 

the offsetting number of SPX combinations defined 

by the delta, where an ‘‘SPX combination’’ is a 

purchase (sale) of an SPX call and sale (purchase) 

of an SPX put having the same expiration date and 

strike price and a ‘‘delta’’ is the positive (negative) 

number of SPX combinations that must be sold 

(bought) to establish a market neutral hedge with 

one or more SPX option series. 

4Securities Exchange Act Release No. 34–72271 

(May 29, 2014), 79 FR 32342 (June 4, 2014) (SR– 

CBOE–2014–046). 

5SR–CBOE–2014–046 defines an SPX 

combination as a purchase (sale) of an SPX call and 

sale (purchase) of an SPX put having the same 

expiration date and strike price. 

6See supra, note 2. Currently, brokers must apply 

an SPX Combo Order designation for the purposes 

of price reporting. This is accomplished by 

endorsing a trade via PAR; however the system 

changes that allow a combo indicator to be applied 

upon systematization will remove the capability to 

endorse an order as an SPX Combo Order on PAR, 

Id. 

7Securities Exchange Act Release No. 34–72975 

(September 2, 2014) (‘‘Notice’’), 79 FR 53230 

(September 8, 2014) (SR–CBOE–2014–015). SR– 

CBOE–2014–015 was withdrawn by the Exchange 

on November 21, 2014, in order to bifurcate the 

filing into two separate filings. The first filing is 

represented by this proposed rule change regarding 

the single order ticket requirements. The second 

filing will, among other things, include 

amendments to the complex order definitions. 

8CBOE Regulatory Circular RG14–125— 

Implementation of SPX Combo Order Indicator 

(August 15, 2014). 

9See CBOE Regulatory Circular RG14–153— 

Delayed Implementation of SPX Combo Order 

Indicator (October 31, 2014). 

10See Securities Exchange Act Release No. 34– 

73479 (October 31, 2014), 79 FR 66014 (November 

6, 2014) (SR–CBOE–2014–083) (delaying the combo 

indicator requirement in SR–CBOE–2014–046 in 

order to coincide with the order ticket requirements 

of SR–CBOE–2014–015). 

the proposed rule change is provided 

below. 

(additions are in italics; deletions are 

[bracketed]) 

* * * * * 

Chicago Board Options Exchange, 

Incorporated Rules 

* * * * * 

Rule 6.53. Certain Types of Orders 

Defined 

* * * * * 

. . . Interpretations and Policies: 

.01 No change. 

.02 Complex orders of twelve (12) legs 

or less (one leg of which may be for an 

underlying security or security future, as 

applicable) must be entered on a single 

order ticket at time of systemization. If 

permitted by the Exchange (which the 

Exchange will announce by Regulatory 

Circular), complex orders of more than 

twelve (12) legs (one leg of which may 

be for an underlying security or security 

future, as applicable) may be split 

across multiple order tickets, if the 

Trading Permit Holder representing the 

complex order includes twelve (12) legs 

on one of the order tickets and identifies 

for the Exchange the order tickets that 

are part of the same complex order (in 

a form and manner prescribed by the 

Exchange). 

* * * * * 

Rule 24.20. SPX Combo Orders 

* * * * * 

. . . Interpretations and Policies: 

.01 An SPX Combo Order for twelve 

(12) legs or less must be entered on a 

single order ticket at time of 

systemization. If permitted by the 

Exchange (which the Exchange will 

announce by Regulatory Circular), an 

SPX Combo Order for more than twelve 

(12) legs may be represented or executed 

as a single SPX Combo Order in 

accordance with this Rule 24.20 if it is 

split across multiple order tickets and 

the Trading Permit Holder representing 

the SPX Combo Order includes twelve 

(12) legs on one of the order tickets and 

identifies for the Exchange the order 

tickets that are part of the same SPX 

Combo Order (in a manner and form 

prescribed by the Exchange). 

* * * * * 

The text of the proposed rule change 

is also available on the Exchange’s Web 

site (http://www.cboe.com/AboutCBOE/ 

CBOELegalRegulatoryHome.aspx), at 

the Exchange’s Office of the Secretary, 

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 proposes to set forth 

order ticket requirements applicable to 

complex orders in open outcry pursuant 

to Rule 6.53, as well as SPX Combo 

Orders 3 pursuant to Rule 24.20. 

Background 

On May 19, 2014, the Exchange 

submitted a rule change filing (SR– 

CBOE–2014–046), which became 

effective on that date, to amend Rule 

24.20, ‘‘SPX Combo Orders’’. Rule 

24.20, as amended, states: ‘‘For an order 

to be eligible for the trading procedures 

contained in this Rule, a Trading Permit 

Holder must apply an indicator to the 

SPX Combo Order upon systematization 

as provided in Rule 6.24.’’ 4 Once the 

Exchange implements the combo 

indicator requirement, TPHs will be 

required to apply the combo indicator 

upon systematization. Orders that 

include the combo indicator but do not 

meet the requirements of an SPX Combo 

Order (i.e., orders must be at least three 

legs and include an SPX combination 5) 

will be rejected. Additionally, the 

Public Automatic Routing System 

(‘‘PAR’’) will no longer allow an order 

to be endorsed as an SPX Combo Order 

and reported to OPRA as such.6

On August 19, 2014, the Exchange 

submitted a separate rule change filing 

(SR–CBOE–2014–015) to amend, among 

other things, Rule 24.20 to include 

Interpretation and Policy .01.7 Proposed 

Interpretation and Policy .01 was 

proposed to require that any complex 

order in open outcry, including an SPX 

Combo Order, for twelve (12) legs or less 

be entered on a single order ticket at 

time of systemization. In addition, a 

complex order, including an SPX 

Combo Order, that contains more than 

twelve (12) legs may be represented and 

executed as a single order, and for an 

SPX Combo Order in accordance with 

Rule 24.20 if it is split across multiple 

order tickets and the TPH representing 

the order identifies for the Exchange the 

order tickets that are part of the same 

order (in a manner and form prescribed 

by the Exchange). 

Pursuant to rule change filing SR– 

CBOE–2014–046, the Exchange issued a 

Regulatory Circular requiring Trading 

Permit Holders (‘‘TPHs’’) to begin 

applying the combo indicator upon 

systematization on November 1, 2014.8

The implementation date was 

subsequently delayed until February 27, 

2015 9 in order to coincide with the 

implementation date of the order ticket 

requirements in SR–CBOE–2014–015.10

Pursuant to SR–CBOE–2014–046, a 

third-party vendor updated the 

Exchange provided Floor Broker 

Workstation (‘‘FBW) to support the 

combo indicator. Pursuant to SR– 

CBOE–2014–015, the Exchange, through 

a third-party vendor, developed an 

enhanced version of FBW to support the 

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Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 6147 

11See RG14–176. 

12The Exchange also notes that TPHs will not be 

required to make changes to their own or thirdparty vendor’s order entry and execution systems. 

However, to the extent a TPH wants to represent 

and execute a multi-part order in open outcry as a 

complex order, the order must be entered on a 

single order ticket and cannot exceed twelve (12) 

legs (or, if the Exchange has determined to make it 

available, an order for more than twelve (12) legs 

that is entered on multiple order tickets, which 

tickets are linked in a form and manner prescribed 

by the Exchange). For example, if a TPH’s order 

entry and execution system currently only supports 

the open outcry processing of a complex order with 

up to four (4) legs, the system would not need to 

be enhanced if the TPH does not intend to represent 

and execute complex orders with more than four (4) 

legs. If the TPH intends to represent and execute 

complex orders with more than four (4) legs (i.e., 

complex orders with five (5) to twelve (12) legs), 

then the TPH may need to enhance its existing 

system or utilize another order entry and execution 

system that supports the open outcry processing of 

such orders on a single order ticket. 

13See RG14–125; RG–14–153; and RG14–176. 

Beyond Regulatory Circulars, the Exchange has 

been in contact with TPHs about the upcoming 

single order ticket requirements. 

14As noted above, system enhancements 

currently allow orders with up to twelve legs to be 

processed for open outcry. 

15The Exchange recognizes that SR–CBOE–2014– 

015 indicated that the Exchange was not imposing 

requirements on how a complex order with more 

than 12 legs should be split across multiple tickets. 

See supra note 5, at page 6. However, the Exchange 

does not believe TPHs will be adversely affected by 

the proposed requirement specifying how an order 

with more than 12 legs should be split across 

multiple tickets because the Exchange believes 

PULSe, the enhanced version of FBW, and 

proprietary systems that TPHs have designed to 

comply with the single order ticket requirements of 

SR–CBOE–2014–015 are capable of complying with 

the requirement specifying how orders with more 

than 12 legs should be split across multiple tickets 

without further programming or configuration. 

16As noted in the proposed rule text, for an open 

outcry complex order and an SPX Combo Order, if 

an order with more than twelve legs is split across 

multiple order tickets, one of the order tickets must 

contain twelve legs. For example, a thirteen leg 

order cannot have seven legs on one ticket and six 

legs on another ticket; rather, one ticket must have 

twelve legs and the other ticket must have one leg. 

17 15 U.S.C. 78f(b). 

18 15 U.S.C. 78f(b)(5). 

19 Id. 

20 15 U.S.C. 78f(b)(1). 

entry of complex orders with up to 

twelve legs. The enhanced version of 

FBW was made available to TPHs for 

training purposes on January 2, 2015.11

The Exchange notes that PULSe, which 

is an Exchange provided alternative to 

FBW, also currently allows up to twelve 

(12) legs on a single order ticket and has 

been updated with the combo 

indicator.12 In addition, the Exchange 

has been in contact with TPH broker 

groups consistently since the filing of 

SR–CBOE–2014–015 in an effort to 

prepare TPH broker groups for the 

combo indicator and the single order 

ticket requirements.13

Proposal 

Currently, Exchange system 

limitations may prevent a multi-part 

order with more than a certain number 

of legs from being entered on a single 

order ticket for representation and 

execution in open outcry as a complex 

order.14 As a result, complex orders 

with more than the applicable leg 

limitation that are represented in open 

outcry must be split up and entered on 

multiple order tickets. For consistency 

in processing and in order to enhance 

the Exchange’s audit trail, the Exchange 

proposes to amend Rules 6.53 to 

require: 

• Complex orders of twelve (12) legs 

or less (one leg of which may be for an 

underlying security or security future, 

as applicable) must be entered on a 

single order ticket at time of 

systemization. If permitted by the 

Exchange (which the Exchange will 

announce by Regulatory Circular), 

complex orders of more than twelve (12) 

legs (one leg of which may be for an 

underlying security or security future, 

as applicable) may be split across 

multiple order tickets, if the Trading 

Permit Holder representing the complex 

order includes twelve (12) legs on one 

of the order tickets 15 and identifies for 

the Exchange the order tickets that are 

part of the same complex order (in a 

form and manner prescribed by the 

Exchange). 

With respect to the order ticket 

requirements, the Exchange also 

proposes to add to Rule 24.20 

(pertaining to SPX Combo Orders) 

Interpretation and Policy .01 to require 

that an SPX Combo Order for twelve 

(12) legs or less be entered on a single 

order ticket at time of systemization. An 

SPX Combo Order that contains more 

than twelve (12) legs may be 

represented and executed as a single 

SPX Combo Order in accordance with 

Rule 24.20 if it is split across multiple 

order tickets and the TPH representing 

the SPX Combo Order includes twelve 

(12) legs on one of the order tickets 16

and identifies for the Exchange the 

order tickets that are part of the same 

SPX Combo Order (in a manner and 

form prescribed by the Exchange). The 

Exchange will announce by Regulatory 

Circular whether it permits SPX Combo 

Orders with more than 12 legs and, if so 

permitted, the form and manner in 

which the TPH must link the multiple 

order tickets. The Exchanges notes that 

a TPH may submit an order that does 

not satisfy these ticket requirements, but 

such order may not be represented or 

executed as a single SPX Combo Order 

in accordance with Rule 24.20. The 

Exchange also notes that Rules 24.20 

already specifies an applicable ratio 

(defined by the delta as noted above), 

and it is proposing no changes to the 

ratio through this rule filing. 

The Exchange will announce the 

implementation date of the proposed 

rule change in a Regulatory Circular to 

be published within 90 days of the filing 

date of this filing. The implementation 

date of this filing, if the filing is 

approved, will be within 180 days of the 

filing date, but no earlier than the 

approval date of the filing. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.17 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 18 requirements that the rules of 

an exchange be designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, to remove impediments to 

and perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. 

Additionally, the Exchange believes the 

proposed rule change is consistent with 

the Section 6(b)(5) 19 requirement that 

the rules of an exchange not be designed 

to permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

In particular, the Exchange believes 

enhancing the audit trail with respect to 

open outcry complex order processing 

and SPX Combo Orders will help to 

protect investors and the public interest 

because an enhanced audit trail 

promotes transparency and aids in 

surveillance, as well as, provides the 

Exchange the ability to better enforce 

compliance by the Exchange’s TPHs 

(and persons associated with its TPHs) 

with the Act, the rules and regulations 

thereunder and the rules of the 

Exchange, thereby protecting investors. 

In addition, the Exchange believes the 

proposed rule change is consistent with 

Section 6(b)(1) of the Act,20 which 

provides that the Exchange be organized 

and have the capacity to be able to carry 

out the purposes of the Act and to 

enforce compliance by the Exchange’s 

TPHs (and persons associated with its 

TPHs) with the Act, the rules and 

regulations thereunder and the rules of 

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6148 Federal Register / Vol. 80, No. 23 / Wednesday, February 4, 2015 / Notices 

21 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

the Exchange. Enhancing the audit trail 

with respect to open outcry complex 

order processing will further improve 

the Exchange’s ability to better enforce 

compliance by the Exchange’s TPHs 

(and persons associated with its TPHs) 

with the Act, the rules and regulations 

thereunder and the rules of the 

Exchange. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE does not believe that the 

proposed rule change will impose any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange does not believe that the 

proposed rule change will impose any 

burden on intramarket or intermarket 

competition because the order ticket 

requirements will be applicable to all 

TPHs executing complex orders in open 

outcry and SPX Combo Orders. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposal. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 days of the date of 

publication of this notice in the Federal 

Register or within such longer period 

up to 90 days (i) as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or (ii) as to which 

the Exchange consents, the Commission 

will: 

A. By order approve or disapprove 

such proposed rule change, or 

B. institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

The Exchange has requested 

accelerated approval of the proposed 

rule change. The Commission is 

considering granting accelerated 

approval of the proposed rule change at 

the end of a 15-day comment period. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rulecomments@sec.gov. Please include File 

Number SR–CBOE–2015–011 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–CBOE–2015–011. 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 (http://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–CBOE– 

2015–011 and should be submitted on 

or before February 19, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–02104 Filed 2–3–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74170; File No. SR–Phlx– 

2015–08] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Exchange’s Pricing Schedule Under 

Section VIII With Respect To Execution 

and Routing of Orders in Securities 

Priced at $1 or More Per Share 

January 29, 2015. 

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 January 

16, 2015, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ 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 Pricing Schedule under 

Section VIII, entitled ‘‘NASDAQ OMX 

PSX FEES,’’ with respect to execution 

and routing of orders in securities 

priced at $1 or more per share. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://

nasdaqomxphlx.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. 

mstockstill on DSK4VPTVN1PROD with NOTICES