Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices 9841 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4. 

13For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the act. To the 

contrary, allowing the Exchange to 

implement substantively identical rules 

related to the imposition of fines for 

minor violations of rules across each of 

the BGM Affiliated Exchanges does not 

present any competitive issues, but 

rather is designed to provide greater 

harmonization among Exchange, BATS, 

BYX, and EDGA rules of similar 

purpose, resulting in less burdensome 

and more efficient regulatory 

compliance for common members of the 

BGM Affiliated Exchanges and an 

enhanced ability of the BGM Affiliated 

Exchanges to fairly and efficiently 

regulate members, which will further 

enhance competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 11 and paragraph 

of Rule 19b–4(f)(6) thereunder.12

The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. The Exchange stated that waiver 

of this requirement is consistent with 

the protection of investors and the 

public interest because it will allow the 

Exchange to have consistent rules 

related to minor violations across each 

of the BGM Affiliated Exchanges, which 

it believes will both more consistently 

and effectively regulate members of the 

BGM Affiliated Exchanges as well as 

reduce the regulatory burden on 

Members of the Exchange that are also 

members of EDGA, BYX and/or BZX. 

The Commission believes that the 

proposed rule change presents no novel 

issues and that waiver of the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest. Therefore, the Commission 

designates the proposed rule change to 

be operative upon filing.13

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 proposal 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 No. SR– 

EDGX–2015–10 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 No. 

SR–EDGX–2015–10. 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 will also 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 No. SR–EDGX– 

2015–10 and should be submitted on or 

before March 17, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–03667 Filed 2–23–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74291; File No. SR–MIAX– 

2015–09] 

Self-Regulatory Organizations; Miami 

International Securities Exchange LLC; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change To Amend Its Fee Schedule 

February 18, 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 February 5, 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 

amend the MIAX Options Fee Schedule. 

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 


tkelley on DSK3SPTVN1PROD with NOTICES
9842 Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices 

3The term ‘‘MIAX Select Symbols’’ currently 

means options overlying AA, AAL, AAPL, AIG, 

AMAT, AMD, AMZN, BA, BABA, BBRY, BIDU, BP, 

C, CAT, CBS, CELG, CLF, CVX, DAL, EBAY, EEM, 

FB, FCX, GE, GILD, GLD, GM, GOOGL, GPRO, HAL, 

HTZ, INTC, IWM, JCP, JNJ, JPM, KMI, KO, MO, 

MRK, NFLX, NOK, NQ, ORCL, PBR, PFE, PG, 

QCOM, QQQ, RIG, S, SPY, SUNE, T, TSLA, USO, 

VALE, VXX, WAG, WFC, WMB, WY, X, XHB, XLE, 

XLF, XLP, XOM, XOP, and YHOO. 

4See Securities Exchange Act Release Nos. 73328 

(October 9, 2014), 79 FR 62230 (October 16, 2014) 

(SR–MIAX–2014–50); 72567 (July 8, 2014), 79 FR 

40818 (July 14, 2014) (SR–MIAX–2014–34); 72356 

(June 10, 2014), 79 FR 34384 (June 16, 2014) (SR– 

MIAX–2014–26); 71698 (March 12, 2014), 79 FR 

15185 (March 18, 2014) (SR–MIAX–2014–12); 

71700 (March 12, 2014), 79 FR 15188 (March 18, 

2014) (SR–MIAX–2014–13); 71283 (January 10, 

2014), 79 FR 2914 (January 16, 2014) (SR–MIAX– 

2013–63); 71009 (December 6, 2013), 78 FR 75629 

(December 12, 2013) (SR–MIAX–2013–56). 

5 15 U.S.C. 78f(b). 6 15 U.S.C. 78f(b)(4). 7 15 U.S.C. 78s(b)(3)(A)(ii). 

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 amend the 

MIAX Select Symbols 3 section of the 

Priority Customer Rebate Program (the 

‘‘Program’’) 4 to replace the option class 

‘‘WAG’’ with ‘‘WBA’’. 

Walgreens recently completed a 

corporate transaction that resulted in 

Walgreens becoming a wholly owned 

subsidiary of Walgreens Boots Alliance, 

Inc., and shares of Walgreens common 

stock being converted into shares of 

Walgreens Boots Alliance common 

stock on a one-for-one basis. In addition, 

the new shares of Walgreens Boots 

Alliance were given a new symbol 

‘‘WBA’’. The Exchange now proposes to 

amend the Fee Schedule to change the 

symbol in the MIAX Select Symbols 

from ‘‘WAG’’ to ‘‘WBA’’ to correspond 

with this change. The change is 

designed to ensure that there is no 

confusion amongst market participants 

that Walgreens will continue to remain 

in the MIAX Select Symbols. Walgreens 

completed its corporate transaction on 

December 30, 2014, with the new 

symbol commencing trading on 

December 31, 2014. 

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)(4) 

of the Act 6 in particular, in that it is an 

equitable allocation of reasonable fees 

and other charges among Exchange 

members. 

In particular, the proposal to change 

the Walgreens symbol to its new 

designation is consistent with the Act 

because the proposed change is merely 

updating the corresponding symbol to 

allow for Walgreens to continue to 

remain in the MIAX Select Symbols. 

The proposed change will allow for 

continued benefit to investors by 

providing them an updated reference to 

a symbol in the Fee Schedule. 

The Exchange believes that the 

proposal to modify the Program to 

amend an option class that qualifies for 

the credit for transactions in MIAX 

Select Symbols is fair, equitable and not 

unreasonably discriminatory. The credit 

for transactions in the select symbols is 

reasonably designed because it will 

incent providers of Priority Customer 

order flow to send that Priority 

Customer order flow to the Exchange in 

order to receive a credit in a manner 

that enables the Exchange to improve its 

overall competitiveness and strengthen 

its market quality for all market 

participants. The Program which 

provides increased incentives in high 

volume select symbols is also 

reasonably designed to increase the 

competitiveness of the Exchange with 

other options exchanges that also offer 

increased incentives to higher volume 

symbols. The proposed change to the 

rebate Program is fair and equitable and 

not unreasonably discriminatory 

because it will apply equally to all 

Priority Customer orders in the select 

symbols. All similarly situated Priority 

Customer orders in the select symbols 

are subject to the same rebate schedule, 

and access to the Exchange is offered on 

terms that are not unfairly 

discriminatory. In addition, the Program 

is equitable and not unfairly 

discriminatory because, while only 

Priority Customer order flow qualifies 

for the Program, an increase in Priority 

Customer order flow will bring greater 

volume and liquidity, which benefit all 

market participants by providing more 

trading opportunities and tighter 

spreads. 

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 

proposed rule change is a not a 

competitive filing but rather is designed 

to update the new underlying symbol 

for Walgreens in order to avoid potential 

confusion on the part of market 

participants. 

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.7 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–2015–09 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. 

All submissions should refer to File 

Number SR–MIAX–2015–09. 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 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 36 / Tuesday, February 24, 2015 / Notices 9843 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Exchange proposes to update section 

references to take into account the new section 

numbers when these two sections are removed. 

Section references in this proposed rule change are 

to the current section numbers. 

4 15 U.S.C. 78f. 

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

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–MIAX– 

2015–09 and should be submitted on or 

before March 17, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–03665 Filed 2–23–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74286; File No. SR–ISE– 

2015–04] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend the Schedule of 

Fees 

February 18, 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 February 

3, 2015, the International Securities 

Exchange, LLC (the ‘‘Exchange’’ or the 

‘‘ISE’’) 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 self-regulatory 

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 ISE proposes to amend the 

Schedule of Fees to eliminate fees and 

rebates for Mini Options, which were 

delisted on the Exchange as of the close 

of business on December 17, 2014. The 

text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.ise.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 these statements may be examined at 

the places specified in Item IV below. 

The self-regulatory organization 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 is permitted to list Mini 

Option contracts overlying ten shares of 

the following five symbols: SPY, AAPL, 

GLD, GOOGL, and AMZN, pursuant to 

Supplementary Material .13 to Rule 504. 

Due to the smaller exercise and 

assignment value of Mini Options 

contracts, the Exchange charges fees and 

provides rebates in these Mini Option 

classes at a rate that is 1/10th the rate 

of fees and rebates the Exchange 

provides for trading in Standard 

Options. As the Exchange has delisted 

all Mini Options as of the close of 

business on December 17, 2014, the 

Exchange now proposes to eliminate 

fees and rebates for Mini Options in the 

Schedule of Fees. In particular, the 

Exchange also proposes to remove 

language related to Mini Options in the 

following sections of the Schedule of 

Fees: 

1. Sections III and IV, which contain 

tables on Regular Order Fees and 

Rebates for Mini Options and Complex 

Order Fees and Rebates for Mini 

Options, respectively. These sections 

will be eliminated in their entirety.3

2. The definition of Mini Options in 

the Preface. 

3. Language related to combining 

volume in Standard Options and Mini 

Options to calculate Priority Customer 

ADV and Priority Customer Complex 

ADV in the footnotes to Sections I and 

II. 

4. QCC and Solicitation Rebate for 

Mini Options in Section VI, A, 

including language related to combining 

volume in Standard Options and Mini 

Options to determine applicable volume 

tiers. 

5. ISE Market Maker Discount Tiers 

for Mini Options in Section VI, C, 

including language related to combining 

volume in Standard Options and Mini 

Options to determine applicable volume 

tiers. 

6. Payment for Order Flow fees for 

Mini Options in Non-Penny Pilot 

Symbols in Section VI, D. 

7. Route-out fees for Mini Options in 

Section VI, F. 

8. The Credit for Responses to Flash 

Orders in Mini Options in Section VI, G. 

9. The service fee for Crossing Orders 

in Mini Options in Section VI, H. 

10. Language related to charging the 

Options Regulatory Fee for options 

transactions in Mini Options in Section 

IX, C. 

In connection with the above changes, 

the Exchange further proposes to 

remove related references to Standard 

Options, as the distinction between 

Standard Options and Mini Options is 

no longer necessary with the delisting of 

Mini Options. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,4

in general, and Section 6(b)(4) of the 

Act,5 in particular, in that it is designed 

to provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among its members and other persons 

using its facilities. 

Specifically, the Exchange believes 

that the proposed rule change is 

reasonable, equitable, and not unfairly 

discriminatory as all Mini Option 

classes have been delisted on the 

Exchange as of the close of business on 

December 17, 2014. The Exchange 

believes that eliminating fees and 

rebates for Mini Options (and removing 

superfluous references to Standard 

Options) will simplify the Schedule of 

Fees and reduce investor confusion as to 

what products trade on the Exchange. 


tkelley on DSK3SPTVN1PROD with NOTICES