Federal Register / Vol. 80, No. 29 / Thursday, February 12, 2015 / Notices 7897 

17 15 U.S.C. 78s(b)(3)(A)(iii). 

18 17 CFR 240.19b–4(f)(6). 

19 17 CFR 240.19b–4(f)(6). 

20 17 CFR 240.19b–4(f)(6)(iii). 

21 15 U.S.C. 78s(b)(2)(B). 22 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 17 and Rule 

19b–4(f)(6) thereunder.18 Because the 

proposed rule change does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 19 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),20 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. 

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 21 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSEMKT–2015–08 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–NYSEMKT–2015–08. 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– 

NYSEMKT–2015–08, and should be 

submitted on or before March 5, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–02893 Filed 2–11–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74225; File No. SR–MIAX– 

2015–05] 

Self-Regulatory Organizations; Miami 

International Securities Exchange LLC; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Modify the Closing Date of 

the Equity Rights Program 

February 6, 2015. 

Pursuant to the provisions of 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 27, 2015, Miami 

International Securities Exchange LLC 

(‘‘MIAX’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) a 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 is filing a proposal to 

modify the closing date of the equity 

rights program. The text of the proposed 

rule change is available on the 

Exchange’s Web site at http://

www.miaxoptions.com/filter/wotitle/

rule_filing, at MIAX’s principal office, 

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 

On January 6, 2015, the Exchange 

filed a rule change to implement an 


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7898 Federal Register / Vol. 80, No. 29 / Thursday, February 12, 2015 / Notices 

3See Securities Exchange Act Release No. 74095 

(January 20, 2015), 80 FR 4011 (January 26, 2015) 

(SR–MIAX–2015–02). 

4See id. 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78f(b)(4). 9 15 U.S.C. 78s(b)(3)(A)(ii). 

equity rights program (‘‘Program’’) 

pursuant to which units representing 

the right to acquire equity in the 

Exchange’s parent holding company, 

Miami International Holdings, Inc. 

(‘‘MIH’’) would be issued to a 

participating Member in exchange for 

payment of an initial purchase price or 

the prepayment of certain transaction 

fees and the achievement of certain 

liquidity volume thresholds on the 

Exchange over a 29-month period.3 All 

applicants are subject to the same 

eligibility and designation criteria, and 

all participant Members participate in 

the Program on the same terms, 

conditions and restrictions. To be 

designated as a participant Member, an 

applicant must: (i) Be a Member in good 

standing of MIAX; (ii) qualify as an 

‘‘accredited investor’’ as such term is 

defined in Regulation D of the Securities 

Act of 1933; and (iii) have executed all 

required documentation for Program 

participation. Participant Members must 

have executed the definitive 

documentation, satisfied the eligibility 

criteria required of Program participants 

enumerated above, and tendered the 

minimum cash investment or 

prepayment of fees by January 27, 2015, 

with a closing to occur on January 30, 

2015. 

Because all prospective participant 

Members are not able to execute the 

definitive documentation, satisfy the 

eligibility criteria required of Program 

participants, and tender the minimum 

cash investment or prepayment of fees 

by the January 27, 2015 deadline, the 

Exchange proposes to make a reasonable 

accommodation to all prospective 

participant Members. Accordingly, the 

Exchange proposes to extend the 

deadline, by which Participant Members 

must have executed the definitive 

documentation, satisfied the eligibility 

criteria required of Program 

participants, and tendered the minimum 

cash investment or prepayment of fees 

must be submitted [sic] to the Exchange, 

by 3 days to January 30, 2015, with a 

closing to occur on February 2, 2015. 

The Exchange will initiate the 

measurement period on February 1, 

2015, as previously prescribed.4 This 

extension will allow all Members 

desiring to participate in the Program to 

subscribe. In making such 

accommodation, no prospective 

Participant Member will be impaired in 

their ability to participate in the 

Program. 

2. Statutory Basis 

The Exchange believes that its 

proposed rule change is consistent with 

section 6(b) of the Act 5 in general, and 

furthers the objectives of section 6(b)(5) 

of the Act 6 in particular, in that it is 

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 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanisms 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) of the Act 7 requirement that the 

rules of an exchange not be designed to 

permit unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange also believes the 

proposed rule change is consistent with 

section 6(b)(4) of the Act,8 which 

requires that Exchange rules provide for 

the equitable allocation of reasonable 

dues, fees, and other charges among its 

members and other persons using its 

facilities. 

In particular, the proposed rule 

change is reasonable, equitable and not 

unfairly discriminatory because it 

proposes to make a reasonable 

accommodation to all prospective 

participant Members who wish to 

participate in the Program. This will 

ensure that no prospective participant 

Member to the Program would be 

impaired in their ability to participate in 

the Program. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

Exchange believes that the proposed 

rule change will improve competition 

by allowing all market participants to 

subscribe to the Program. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

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)(ii) of the Act.9 At any time 

within 60 days of the filing of the 

proposed rule change, the Commission 

summarily may temporarily suspend 

such rule change if it appears to the 

Commission that such action is 

necessary or appropriate in the public 

interest, for the protection of investors, 

or otherwise in furtherance of the 

purposes of the Act. If the Commission 

takes such action, the Commission shall 

institute proceedings to determine 

whether the proposed rule should be 

approved or disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

MIAX–2015–05 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–MIAX–2015–05. 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., 


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Federal Register / Vol. 80, No. 29 / Thursday, February 12, 2015 / Notices 7899 

10 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4The Exchange initially filed rule changes 

relating to its co-location services with the 

Securities and Exchange Commission 

(‘‘Commission’’) in 2010. See Securities Exchange 

Act Release No. Securities Exchange Act Release 

No. 63275 (November 8, 2010), 75 FR 70048 

(November 16, 2010) (SR–NYSEArca–2010–100) 

(the ‘‘Original Co-location Filing’’). The Exchange 

operates a data center in Mahwah, New Jersey (the 

‘‘data center’’) from which it provides co-location 

services to Users. 

5For purposes of the Exchange’s co-location 

services, the term ‘‘User’’ includes (i) ETP Holders 

and Sponsored Participants that are authorized to 

obtain access to the NYSE Arca Marketplace 

pursuant to NYSE Arca Equities Rule 7.29 (see 

NYSE Arca Equities Rule 1.1(yy)); (ii) OTP Holders, 

OTP Firms and Sponsored Participants that are 

authorized to obtain access to the NYSE Arca 

System pursuant to NYSE Arca Options Rule 6.2A 

(see NYSE Arca Options Rule 6.1A(a)(19)); and (iii) 

non-ETP Holder, non-OTP Holder and non-OTP 

Firm broker-dealers and vendors that request to 

receive co-location services directly from the 

Exchange. See, e.g., Securities Exchange Act 

Release Nos. 65970 (December 15, 2011), 76 FR 

79242 (December 21, 2011) (SR–NYSEArca–2011– 

74) and 65971 (December 15, 2011), 76 FR 79267 

(December 21, 2011) (SR–NYSEArca–2011–75). As 

specified in the Fee Schedules, a User that incurs 

co-location fees for a particular co-location service 

pursuant thereto would not be subject to co-location 

fees for the same co-location service charged by the 

Exchange’s affiliates NYSE MKT LLC and New York 

Stock Exchange LLC. See Securities Exchange Act 

Release No. 70173 (August 13, 2013), 78 FR 50459 

(August 19, 2013) (SR–NYSEArca–2013–80). 

6See Original Co-location Filing, at 70049. See 

also Securities Exchange Act Release No. 67667 

(August 15, 2012), 77 FR 50743 (August 22, 2012) 

(SR–NYSE Arca–2012–63) (‘‘August 2012 Rule 

Change’’). 

7The Exchange makes an IP network circuit 

available to Users for testing and certification 

purposes at no charge. Such circuit can only be 

used for testing and certification and is limited to 

three months. The Exchange proposes to add 

language to the Price List to include this practice. 

8See Securities Exchange Act Release No. 72720 

(July 30, 2014), 79 FR 45577 (August 5, 2014) (SR– 

NYSEArca–2014–81). 

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–MIAX–2015–05 and should 

be submitted on or before March 5, 

2015. For the Commission, by the 

Division of Trading and Markets, 

pursuant to delegated authority.10

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–02897 Filed 2–11–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74219; File No. SR– 

NYSEARCA–2015–03] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Include Internet 

Protocol Network Connections and 

Fiber Cross Connects Between a 

User’s Cabinet and Non-User’s 

Equipment as Co-Location Services 

February 6, 2015. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on January 

26, 2015, NYSE Arca, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 selfregulatory organization. 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 provide 

that the co-location services offered by 

the Exchange include 1 Gigabit (‘‘Gb’’) 

and 10 Gb Internet Protocol (‘‘IP’’) 

network connections in the Exchange’s 

data center and fiber cross connects 

(‘‘cross connects’’) between a User’s 

cabinet and non-User’s equipment. In 

addition, the proposed rule change 

reflects changes to the Exchange’s Price 

List related to these co-location services. 

The text of the proposed rule change is 

available on the Exchange’s Web site at 

www.nyse.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 

self-regulatory organization 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 those 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to change its 

rules to provide that the co-location 4

services offered by the Exchange 

include 1 Gb and 10 Gb IP network 

connections in the Exchange’s data 

center and cross connects between a 

User’s cabinet and non-User’s 

equipment. In addition, this proposed 

rule change reflects changes to the the 

[sic] Fee Schedules related to these colocation services.5

IP Network Connections 

The Exchange offers Users access to 

the Exchange’s Liquidity Center 

Network (‘‘LCN’’), a local area network 

available in the data center.6 The LCN 

provides Users with access to the 

Exchange’s trading and execution 

systems and to the Exchange’s 

proprietary market data products. 

This proposed rule change would 

provide that Users may also purchase 

access to the IP network, a second local 

area network available in the Exchange’s 

data center.7 Like the LCN, the IP 

network provides Users with access to 

the Exchange’s trading and execution 

systems and to the Exchanges’ 

proprietary market data products. The 

IP network also provides Users with 

access to away market data products. 

There is greater latency in the 

transmission of data between Users and 

the Exchange for the IP Network than 

for the LCN. 

A User is currently able to select from 

two ‘‘bundled’’ connectivity options, at 

1 Gb and 10 Gb, when connecting to the 

data center.8 Both options include two 

connections referred to as ‘‘SFTI’’ 

connections. These bundled ‘‘SFTI’’ 

connections are IP network connections; 

the reference to ‘‘SFTI’’ is a reflection of 

the fact that the IP network is sometimes 

referred to as the ‘‘SFTI IP’’ network. To 

conform the references to the IP network 

in the Fee Schedules, the Exchange 

proposes to revise the description of the 

bundled connectivity options to remove 

the reference to ‘‘SFTI’’ and update it to 

‘‘IP network.’’ 

In addition, the Exchange proposes to 

change its rules to provide that the colocation services offered by the 

Exchange include 1 Gb and 10 Gb IP 

network connections in the Exchange’s 

data center. The Exchange also proposes 

to revise the Fee Schedules to reflect 

fees related to these IP network 

connections as follows: 


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