15650 Federal Register / Vol. 80, No. 56 / Tuesday, March 24, 2015 / Notices 

28 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Market participants pay the same fees regardless 

of whether they choose to connect to both 

exchanges or solely to ISE Gemini. 4 15 U.S.C. 78f. 

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

6 15 U.S.C. 78f(b)(8). 

7 15 U.S.C. 78s(b)(3)(A)(ii). 

8 17 CFR 240.19b–4(f)(2). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–06621 Filed 3–23–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74529; File No. SR– 

ISEGemini–2015–07] 

Self-Regulatory Organizations; ISE 

Gemini, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend the Schedule 

of Fees 

March 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 March 13, 

2015 ISE Gemini, LLC (the ‘‘Exchange’’ 

or ‘‘ISE Gemini’’) filed with the 

Securities and Exchange 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 the Substance 

of the Proposed Rule Change 

ISE Gemini proposes to amend the 

Schedule of Fees to expand low latency 

Ethernet fees to non-members. The text 

of the proposed rule change is available 

on the Exchange’s Internet Web site at 

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 

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 

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 charges an Ethernet fee 

for its four different Ethernet connection 

options, which is $1,000 per month for 

a 1 Gigabit (‘‘Gb’’) connection, $4,500 

per month for a 10 Gb connection, 

$8,000 per month for a 10 Gb low 

latency connection, and $15,000 per 

month for a 40 Gb low latency 

connection. These Ethernet connectivity 

options provide access to both ISE 

Gemini and ISE Gemini’s sister 

exchange, International Securities 

Exchange, LLC (‘‘ISE’’).3 While the 1 Gb 

and 10 Gb Ethernet fees apply to both 

members and non-members, the 10 Gb 

low latency and 40 Gb low latency fees 

apply only to members. The Exchange 

now proposes to amend the Schedule of 

Fees to apply the low latency Ethernet 

fee to non-members as well. The 

Exchange designates this filing to 

become effective on March 16, 2015. 

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. The Exchange 

believes that it is reasonable, equitable, 

and not unfairly discriminatory to 

extend the low latency Ethernet fees to 

non-members. Market participants that 

establish connectivity to the Exchange 

will continue to pay the same fee based 

on the Ethernet options that they 

choose, and there will be no 

discrimination between the fees charged 

for members and non-members. While 

these low latency connections will 

likely continue to be of primary interest 

to Exchange members, the Exchange 

believes that these options should be 

available to interested non-members as 

well. Furthermore, the Exchange notes 

that the proposed rule change does not 

modify the fees applicable to these 

premium low latency Ethernet options, 

which will remain at their current 

levels. The low latency Ethernet fees 

described in this filing remain 

consistent with the Exchange’s 

connectivity costs, including costs for 

software and hardware enhancements, 

and resources dedicated to 

development, quality assurance, and 

support. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,6 the Exchange does not believe 

that the proposed rule change will 

impose any burden on intermarket or 

intramarket competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act. The 

proposed rule change amends the 

Schedule of Fees to apply low latency 

Ethernet fees to non-members in 

addition to members, and is not 

intended to have any competitive effect. 

The Exchange operates in a highly 

competitive market in which market 

participants can readily direct their 

order flow to competing venues. In such 

an environment, the Exchange must 

continually review, and consider 

adjusting, its fees to remain competitive 

with other exchanges. For the reasons 

described above, the Exchange believes 

that the proposed fee changes reflect 

this competitive environment. 

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 

unsolicited 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)(ii) of the Act,7 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder,8 because it establishes a 

due, fee, or other charge imposed by ISE 

Gemini. 

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 

to determine whether the proposed rule 

should be approved or disapproved. 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 80, No. 56 / Tuesday, March 24, 2015 / Notices 15651 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The text of the proposed rule change is marked 

to show changes made by ISE–2015–11. 

4Market participants pay the same fees regardless 

of whether they choose to connect to both 

exchanges or solely to the ISE. 

5 15 U.S.C. 78f. 

6 15 U.S.C. 78f(b)(4). 

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–ISEGemini-2015–07 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–ISEGemini-2015–07. 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 

a.m. and 3 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– 

ISEGemini–2015–07, and should be 

submitted on or before April 14, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2015–06624 Filed 3–23–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74528; File No. SR–ISE– 

2015–10] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change To Amend the Schedule of 

Fees 

March 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 March 13, 

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 expand low latency 

Ethernet fees to non-members. 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.3

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 charges an Ethernet fee 

for its four different Ethernet connection 

options, which is $1,000 per month for 

a 1 Gigabit (‘‘Gb’’) connection, $4,500 

per month for a 10 Gb connection, 

$8,000 per month for a 10 Gb low 

latency connection, and $15,000 per 

month for a 40 Gb low latency 

connection. These Ethernet connectivity 

options provide access to both the ISE 

and the ISE’s sister exchange, ISE 

Gemini, LLC (‘‘ISE Gemini’’).4 While the 

1 Gb and 10 Gb Ethernet fees apply to 

both members and non-members, the 10 

Gb low latency and 40 Gb low latency 

fees apply only to members. The 

Exchange now proposes to amend the 

Schedule of Fees to apply the low 

latency Ethernet fee to non-members as 

well. The Exchange designates this 

filing to become effective on March 16, 

2015. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,5

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

Act,6 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. The Exchange 

believes that it is reasonable, equitable, 

and not unfairly discriminatory to 

extend the low latency Ethernet fees to 

non-members. Market participants that 

establish connectivity to the Exchange 

will continue to pay the same fee based 

on the Ethernet options that they 

choose, and there will be no 

discrimination between the fees charged 

for members and non-members. While 

these low latency connections will 

likely continue to be of primary interest 

to Exchange members, the Exchange 

believes that these options should be 

available to interested non-members as 

well. Furthermore, the Exchange notes 

that the proposed rule change does not 

modify the fees applicable to these 

premium low latency Ethernet options, 

which will remain at their current 

mstockstill on DSK4VPTVN1PROD with NOTICES