Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Notices 15831 

8 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written notice of its intent to file 

the proposed rule change, along with a brief 

description and the text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. 

9 15 U.S.C. 78s(b)(2)(B). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

of the Act and Rule 19b–4(f)(6) 

thereunder.8

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) of the Act 9 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–2015–18 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–NYSEMKT–2015–18. 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 NYSE’s 

principal office and on its Internet Web 

site at www.nyse.com. 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–2015–18 and should be 

submitted on or before April 15, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06713 Filed 3–24–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74533; File No. SR–Phlx– 

2015–023] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Updating to 

Certain Phlx Rules 

March 19, 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 March 12, 

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 

Rules 50 entitled ‘‘Failure to Pay Dues, 

Fees and Other Charges;’’ 53, entitled 

‘‘Liability for Dues Until Transfer or 

Military Service;’’ 99 entitled ‘‘Back-Up 

Trading Arrangements;’’ and 443 

entitled ‘‘Employees.’’ The Exchange 

proposes to delete Rules 51 entitled 

‘‘Enforcement of Capital Funding Fees;’’ 

54 entitled ‘‘Service Fee;’’ 55 entitled 

‘‘Claims by Formed or Deceased 

Members;’’ and 442 entitled 

‘‘Communications.’’ 

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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this proposed rule 

change is to update certain Phlx rules 

related to the payment of fees to 

harmonize the Exchange’s Rulebook text 

and modernize Exchange rules. The 

Exchange proposes to amend rule text, 

make minor technical amendments to 

certain rules and to delete other rules. 

Each proposed rule change is discussed 

in greater detail below. 

Amendment to Certain Exchange 

Rules 

The Exchange proposes to amend 

Rule 50, entitled ‘‘Failure to Pay Dues, 

Fees and Other Charges.’’ The Exchange 

proposes to conform Rule 50(a) to 

NASDAQ Stock Market LLC (‘‘Nasdaq’’) 

Rule 9553 and NASDAQ OMX BX, Inc. 

(‘‘BX’’) Rule 9553(a). The Exchange is 

proposing to adopt rule text similar to 

Nasdaq Rule 9553 and BX Rule 9553 in 

place of the current rule text in Rule 

50(a), (d) and (f). The Exchange is also 

proposing to modify the headers to 

match those of Nasdaq Rule 9553 and 

BX Rule 9553. The word ‘‘termination’’ 

in the Phlx rule is replaced with the 

word ‘‘cancellation or bar.’’ The 

Exchange’s amendments are not 

substantive in nature. The amendments 


rljohnson on DSK3VPTVN1PROD with NOTICES
15832 Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Notices 

3See Nasdaq IM–1002 and BX IM–1002–2. 

4Phlx must be properly notified of the person’s 

period of active military service within 90 days 

following his or her completion of active service or 

upon his or her re-registration with a member or 

member organization, whichever occurs first. The 

deferral will terminate 90 days following the 

person’s completion of active service in the Armed 

Forces of the United States. Accordingly, if such 

person does not re-register with a member or 

member organization within 90 days following his 

or her completion of active service in the Armed 

Forces of the United States, the amount of time in 

which the person must become re-registered with 

a member or member organization without being 

subject to the qualification examination 

requirements shall consist of the standard two-year 

period provided in Phlx Rules 611, 613, and 3228 

reduced by the period of time between the person’s 

Phlx is properly notified of the person’s period of 

active military service within 90 days following his 

or her completion of active service or upon his or 

her re-registration with a member or member 

organization, whichever occurs first. The deferral 

will terminate 90 days following the person’s 

completion of active service in the Armed Forces 

of the United States. 

5See Securities Exchange Act Release No. 53182 

(January 26, 2006), 71 FR 5391 (February 1, 2006) 

(SR–NASD–2005–135). 

6See FINRA Rule 1250(b)(1). 

7 Id. 

8See Securities and Exchange Commission 44872 

(September 28, 2001), 66 FR 51084 (October 5, 

2001) (SR–Phlx–99–52). 

9See Rule 908. 

10See Rule 909. 

seek to align these rules with Nasdaq 

rules. 

The Exchange proposes to amend 

Rule 53, entitled ‘‘Liability for Dues 

Until Transfer or Military Service’’ to 

delete the current rule text and adopt 

the language in Nasdaq IM–1002 and BX 

IM–1002–2. This rule allows associated 

persons to be placed on inactive status, 

thereby preserving their registration, 

while serving in the Armed Forces of 

the United States.3 The current rule 

describes the liability for dues of a 

member that is active in the military or 

naval service. The current rule notes 

that the member’s liability continues 

unless the permit is transferred or the 

Board of Directors waives dues and 

assessments. The proposed rule text 

permits a member serving in the 

military to retain eligibility to receive 

transaction related compensation, 

provided they do not perform the duties 

of a registered person while inactive. 

The inactive military member would not 

be subject to fees or be required to 

complete Regulatory or Firm Elements 

requirements. The rule provides similar 

relief for sole proprietorships that are 

active in the Armed Forces. Finally, the 

rule affords relief to persons currently 

not registered with a member or member 

organization and subsequently is active 

in the Armed Forces within two years 

after the date a person ceases to be 

registered with a member or member 

organization with respect to registration 

requirements provided notice is given 

within a specified time.4 If a person 

placed upon inactive status while 

serving in the Armed Forces of the 

United States ceases to be registered 

with a member or member organization, 

Phlx will defer the lapse of registration 

requirements during the pendency of 

his or her active service in the Armed 

Forces of the United States. 

Nasdaq based its adoption of the rule 

on a National Association of Securities 

Dealers (hereinafter ‘‘FINRA’’) rule. 

FINRA tolled the two-year licensing 

expiration provisions under its rule for 

a person previously registered with a 

member who commences active military 

duty within two years after he or she 

has ceased to be registered with the 

member, and also tolled the expiration 

provisions for a person placed upon 

‘‘inactive’’ status, who, while serving in 

the Armed Forces of the United States, 

ceases to be registered with a member.5

NASD’s Rule IM–1000–2 relieves 

active duty professionals from 

continuing education requirements. 

With respect to the Firm Element 

requirement of continuing education, 

FINRA provides that only persons who 

have ‘‘direct contact with customers’’ in 

the conduct of securities activities are 

subject to the Firm Element 

requirement.6 active duty professionals 

are excluded from the Firm Element 

requirement because they do not have 

contact with customers. FINRA’s rule 

expressly states that active duty 

professionals are not required to 

complete either of the Regulatory or 

Firm Elements of the continuing 

education requirements during the 

pendency of such inactive status.7 The 

proposed rule change will harmonize 

the Phlx rule with the Nasdaq and BX 

rules as well as FINRA’s rule. 

The Exchange proposes to amend 

Rule 99, entitled ‘‘Back-Up Trading 

Arrangements,’’ to make technical 

conforming amendments to the rule 

text. This rule change is not substantive 

in nature; rather, the rule text 

amendments seek to conform the word 

usage within the text of this rule. 

The Exchange proposes to amend 

Rule 443, entitled ‘‘Employees’’ by 

renaming the rule ‘‘Trading Floor 

Admittance’’ and making minor rule 

amendments to clarify the rule text. 

Rule 443 states, ’’ [n]o employee of a 

member or member organization shall 

be admitted to the floor unless he is 

registered with and approved by the 

Exchange, which may in its discretion 

require the payment of a fee with 

respect to each employee so approved, 

and may at any time in its discretion 

withdraw any approval so given.’’ The 

Exchange proposes to reference Options 

Regulation 5 regarding non-member 

visitors within this rule to add clarity to 

admittance to the options trading floor 

for non-members. The other 

amendments to this rule are technical in 

nature. There are no substantive 

changes proposed to current Phlx Rule 

443. 

Deleted Rules 

The Exchange proposes to delete Rule 

51 entitled ‘‘Enforcement of Capital 

Funding Fees.’’ This rule is no longer 

applicable today. This rule permits the 

Exchange to take certain specified 

measures if an owner of a membership 

fails to pay (or have paid on its behalf) 

any capital funding fee imposed by the 

Exchange when due. The rule specifies 

what enforcement action may be taken 

against an owner for failure to pay any 

capital funding fee imposed by the 

Exchange. The rule delineates the 

remedies that shall be taken by the 

Board if the capital funding fee is not 

paid and allows for a variety of 

remedies ranging from the imposition of 

a late fee to reversion and sale by the 

Exchange of the equitable title to a 

membership. The remedies are set forth 

in such a way as to apply the less 

onerous remedies (i.e., like fees) first 

and the more serious remedies (i.e., 

suspension of right to trade or lease and 

reversion of membership) only after the 

Exchange has not received payment 

within 90 days after the date of the 

original invoice (or such longer period 

for which a lease agreement is in effect 

as a result of the election by a lessee to 

continue paying the capital funding fee). 

By allowing this graduated scale of 

remedies, the owners are put on notice 

as to what remedies will be imposed if 

payment is not received in a timely 

manner, with the more serious remedies 

being applied after a longer period of 

time. In addition, the rule delineates the 

Board’s responsibilities and authority 

for handling instances in which an 

owner fails to pay the capital funding 

fee when due.8

The rule was designed to protect 

innocent lessees from being 

unexpectedly dispossessed from their 

memberships and trading rights in the 

event of a nonpayment by their lessors. 

This was important in the days when 

Phlx had seats, prior to 

demutualization; there are no longer any 

seats, owners or lessors. Today permits 

are issued to members and member 

organizations. Permits provide trading 

rights 9 today and the Exchange collects 

fees via direct debit.10 This rule is 


rljohnson on DSK3VPTVN1PROD with NOTICES
Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Notices 15833 

11Phlx’s only subsidiary is the Stock Clearing 

Corporation of Philadelphia. This subsidiary is 

inactive. 

12 15 U.S.C. 78f(b). 

13 15 U.S.C. 78f(b)(5). 

14See Nasdaq IM–1002, BX IM–1002–2 and 

NASD IM–1002–2. 

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

16 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. The Exchange has satisfied this 

requirement. 

outdated and the Exchange proposes to 

remove it from the Rulebook. 

The Exchange also proposes to delete 

Rule 54 entitled ‘‘Service Fee’’ because 

the rule is outdated. The rule provides, 

‘‘[m]embers and member organizations 

who are not also members of a 

subsidiary of the Exchange but who use 

or benefit from the facilities or services 

of such subsidiary, may be required by 

the Board of Directors to pay fees or 

charges to the Exchange for such use or 

benefit; provided, however, that such 

fees or charges may be imposed only if 

they are similar in structure and rate to 

those imposed by such subsidiary on its 

own members using or benefiting from 

the same facilities or services.’’ The 

Exchange does not have any active 

subsidiaries today.11 This rule is 

therefore not applicable and should be 

deleted from the Rulebook. The 

Exchange also proposes to remove the 

reference to Rule 54 from Rule 3202, 

entitled ‘‘Application of Other rules of 

the Exchange.’’ Rule 3202 adopts certain 

rules into the equity rules. The 

Exchange proposes to remove the 

reference to Rule 54 from Rule 3202 as 

well. 

The Exchange proposes to delete Rule 

55, entitled ‘‘Claims by Formed or 

Deceased Members.’’ This rule states, 

‘‘[w]hen a member is in debt to another 

member the death of the creditor 

member shall not affect the rights of 

such creditor or member, his 

organization or estate in respect of such 

debt.’’ As noted above, the Exchange 

issues permits today for access to 

trading on the Exchange. At the time, 

prior to demutualization, when the 

Exchange issued seats, those seats could 

be leased. This is no longer the case. 

Members are not indebted to other 

members in the same manner today. 

This rule is no longer applicable and 

should be removed from the Rulebook. 

The Exchange also proposes to remove 

the reference to Rule 55 from Rule 3202, 

entitled ‘‘Application of Other Rules of 

the Exchange.’’ Rule 3202 adopts certain 

rules into the equity rules. The 

Exchange proposes to remove the 

reference to Rule 55 from Rule 3202 as 

well. 

The Exchange proposes to delete Rule 

442, entitled ‘‘Communications.’’ This 

rule provides that ‘‘[c]ommunications 

shall not be read to the Exchange nor 

posted on the bulletin board without the 

consent of the Secretary.’’ This rule is 

outdated. Today, the Exchange uses 

electronic means such as email, 

electronic alerts and its Web site to 

issue communications. There is no 

longer a bulletin board on the 

Exchange’s trading floor as there was 

when the rule was enacted. The 

Exchange proposes removing this 

outdated rule from the Rulebook. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 12 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 13

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 

mechanism of a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. The Exchange believes 

that these proposed rule changes will 

harmonize the text of its rules and 

modernize the Phlx Rulebook. The 

Exchange is updating certain rules in 

order to ensure consistency in the rule 

text. The Exchange is proposing to 

delete other rules because they are 

outdated. 

The proposed rule change to Rule 53 

seeks to harmonize this rule with 

Nasdaq and BX Rules. The proposed 

new rules addresses not only fees, 

which are addressed by the current rule, 

but also registration, compensation, 

Regulatory and Firm Element 

requirements, sole proprietor members 

and formerly registered persons. The 

proposed rule states that a registered 

person placed on inactive status shall 

not be included within the scope of fees, 

whereas the Phlx rule indicates a 

member serving in the military in active 

status is liable for dues to the Exchange. 

The Exchange desires to conform the 

treatment of members serving in the 

military to that of other exchanges. The 

NASDAQ, BX and NASD rules provide 

inactive members serving in the military 

with a reprieve from certain obligations 

registration and other requirements.14

The Exchange desires to adopt a similar 

treatment of these members, which it 

believes will foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities. 

The remaining rule amendment 

proposals either modernize the rule text 

and add clarity or delete outdated rule 

text. The Exchange believes that these 

proposals will benefit members and 

member organizations by bringing 

additional clarity to the Rulebook. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange’s proposed amendments 

seek to harmonize the Rulebook by 

conforming the text of certain rules 

throughout the rule and also deleting 

certain unnecessary rules. These rule 

amendments do not place an undue 

burden on competition but rather bring 

clarity to the Rulebook. 

The proposed amendments to Rule 53 

will provide members with a rule 

similar to rules on Nasdaq and BX. The 

Exchange’s amendment will conform 

the treatment of members serving in the 

military to that of other exchanges. The 

Exchange believes that adopting the 

Nasdaq and BX rules will provide 

members and member organizations 

with processes similar to other selfregulatory organizations and therefore 

does not create an undue burden on 

either intra-market or inter-market 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

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)(ii) of the Act 15 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.16

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: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 


rljohnson on DSK3VPTVN1PROD with NOTICES
15834 Federal Register / Vol. 80, No. 57 / Wednesday, March 25, 2015 / Notices 

17 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 74175 

(Jan. 29, 2015), 80 FR 6150. 

4 15 U.S.C. 78s(b)(2). 

5 Id. 

6 17 CFR 200.30–3(a)(31). 

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

2 17 CFR 240.19b–4. 

of investors; or (iii) 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– 

Phlx–2015–023 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–Phlx–2015–023. 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 20549–1090, 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–Phlx– 

2015–023, and should be submitted on 

or before April 15, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06711 Filed 3–24–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74534; File No. SR– 

NYSEArca–2015–01] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Designation of a 

Longer Period for Commission Action 

on Proposed Rule Change Amending 

NYSE Arca Equities Rule 5.2(j)(3), 

Commentary .02 Relating to Listing of 

Investment Company Units Based on 

Municipal Bond Indexes 

March 19, 2015. 

On January 16, 2015, NYSE Arca, Inc. 

filed with the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to amend NYSE Arca Equities 

Rule 5.2(j)(3), Commentary .02 relating 

to the listing of Investment Company 

Units based on fixed income securities 

indexes. The proposed rule change was 

published for comment in the Federal 

Register on February 4, 2015.3 The 

Commission has received no comment 

letters on the proposed rule change. 

Section 19(b)(2) of the Act 4 provides 

that, within 45 days of the publication 

of notice of the filing of a proposed rule 

change, or within such longer period up 

to 90 days as the Commission may 

designate if it finds such longer period 

to be appropriate and publishes its 

reasons for so finding or as to which the 

self-regulatory organization consents, 

the Commission shall either approve the 

proposed rule change, disapprove the 

proposed rule change, or institute 

proceedings to determine whether the 

proposed rule change should be 

disapproved. The Commission is 

extending this 45-day time period. The 

Commission finds that it is appropriate 

to designate a longer period within 

which to take action on the proposed 

rule change so that it has sufficient time 

to consider the proposed rule change. 

Accordingly, the Commission, 

pursuant to Section 19(b)(2) of the Act,5

designates May 5, 2015, as the date by 

which the Commission shall either 

approve or disapprove or institute 

proceedings to determine whether to 

disapprove the proposed rule change 

(File Number SR–NYSEArca-2015–01). 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.6

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–06712 Filed 3–24–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74538; File No. SR–MIAX– 

2015–22] 

Self-Regulatory Organizations; Miami 

International Securities Exchange LLC; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change by Miami International 

Securities Exchange LLC To Amend Its 

Fee Schedule 

March 19, 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 March 12, 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 

the proposed rule change and discussed 


rljohnson on DSK3VPTVN1PROD with NOTICES