Federal Register / Vol. 80, No. 73 / Thursday, April 16, 2015 / Notices 20525 

22 15 U.S.C. 78s(b)(3)(A)(ii). 

23 17 CFR 240.19b–4(f)(2). 24 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 74358 

(February 24, 2015), 80 FR 11243 (March 2, 2015) 

(SR–DTC–2015–01). 

4Third-party Users of PRS include syndicate 

members, correspondent banks, paying agents, 

transfer agents, and certain legal counsel and 

financial advisors. Individual investors do not have 

access to PRS. 

5Securities Exchange Act Release No. 47410 

(February 26, 2003), 68 FR 10558 (March 5, 2003) 

(SR–DTC–2002–13). 

6 15 U.S.C. 78s(b)(2)(C). 

7 15 U.S.C. 78q–1(b)(3)(F). 

8 Id. 

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 22 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder,23 because it establishes a 

due, fee, or other charge imposed by 

ISE. 

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. 

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– 

ISE–2015–11 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–ISE–2015–11. 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 

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–ISE– 

2015–11, and should be submitted on or 

before May 7, 2015. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.24

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08700 Filed 4–15–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74712; File No. SR–DTC– 

2015–01] 

Self-Regulatory Organizations; The 

Depository Trust Company; Order 

Approving Proposed Rule Change To 

Discontinue the Prospectus 

Repository System Service 

April 10, 2015. 

I. Introduction 

On February 13, 2015, The Depository 

Trust Company (‘‘DTC’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) proposed rule change 

SR–DTC–2015–01 (‘‘Proposed Rule 

Change’’) pursuant to Section 19(b)(1) of 

the Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder.2

The Proposed Rule Change was 

published for comment in the Federal 

Registrar on March 2, 2015.3 The 

Commission did not receive any 

comments on the Proposed Rule 

Change. This order approves the 

Proposed Rule Change. 

II. Description 

DTC filed the Proposed Rule Change 

to discontinue DTC’s Prospectus 

Repository System (‘‘PRS’’) and its 

Terms of Use (‘‘Terms of Use’’), as 

discussed below. 

DTC launched PRS in 2003 to provide 

DTC participants (‘‘Participants’’) and 

DTC-authorized third parties 

(collectively, ‘‘Users’’) 4 access to 

prospectuses and official statements 

relating to new issues of corporate and 

municipal securities (‘‘Documents’’).5

Today, however, there are few Users of 

PRS because many of the Documents 

provided through PRS are publicly 

available. As such, DTC states that it is 

not worth the cost of maintaining PRS 

and, thus, will discontinue it. 

III. Discussion 

Section 19(b)(2)(C) of the Act 6 directs 

the Commission to approve a proposed 

rule change of a self-regulatory 

organization if it finds that such 

proposed rule change is consistent with 

the requirements of the Act and rules 

and regulations thereunder applicable to 

such organization. Section 17A(b)(3)(F) 

of the Act requires, among other things, 

that the rules of a clearing agency be 

designed to promote the prompt and 

accurate clearance and settlement of 

securities transactions.7

The Commission finds the Proposed 

Rule Change consistent with the Act. 

More specifically, the Commission finds 

that the Proposed Rule Change is 

consistent with Section 17A(b)(3)(F) of 

the Act.8 By eliminating a service that 

is not economically efficient to maintain 

or central to DTC’s core clearing 

business, DTC can better allocate its 

economic resources to support the 

safeguarding of securities or funds in its 


tkelley on DSK3SPTVN1PROD with NOTICES
20526 Federal Register / Vol. 80, No. 73 / Thursday, April 16, 2015 / Notices 

9 15 U.S.C. 78q–1. 

10 In approving the proposed rule change, the 

Commission considered the proposal’s impact on 

efficiency, competition, and capital formation. 15 

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

11 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. 73832 

(December 12, 2014), 79 FR 243 (December 18, 

2014) (SR–CBOE–2014–092). 

custody or control, and promote the 

prompt and accurate clearance and 

settlement of securities transactions. 

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the Proposed 

Rule Change is consistent with the 

requirements of the Act and in 

particular with the requirements of 

Section 17A of the Act 9 and the rules 

and regulations thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act, that 

proposed rule change SR–DTC–2015–01 

be, and hereby is, approved.10

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Brent J. Fields, 

Secretary. 

[FR Doc. 2015–08704 Filed 4–15–15; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–74709; File No. SR–CBOE– 

2015–036] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend the Fees 

Schedule 

April 10, 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 31, 

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, 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 its 

Fees Schedule. The text of the proposed 

rule change is 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 amend its 

Fees Schedule, effective April 1, 2015. 

Specifically, the Exchange proposes to 

amend its fees for the Russell 2000 

Index (‘‘RUT’’). As of April 1, 2015, 

RUT will be listed exclusively on CBOE 

and C2 Options Exchange Incorporated 

(‘‘C2’’). As such, the Exchange proposes 

to make certain conforming changes to 

its Fees Schedule. 

By way of background, a specific set 

of proprietary products had been 

commonly listed out in the Fees 

Schedule as being included or excluded 

from a variety of programs, qualification 

calculations and transactions fees. In 

lieu of listing out these products in 

various sections of the Fees Schedule, 

the Exchange recently adopted the term 

‘‘Underlying Symbol List A,’’ to 

represent these products.3 Currently, 

Underlying Symbol List A is defined in 

Footnote 34 and represents the 

following proprietary products: OEX, 

XEO, SPX (including SPXw), SPXpm, 

SRO, VIX, VXST, VOLATILITY 

INDEXES and binary options The 

Exchange notes that the reason the 

products in Underlying Symbol List A 

are often collectively included or 

excluded from certain programs, 

qualification calculations and 

transactions fees is because the 

Exchange has expended considerable 

resources developing and maintaining 

its proprietary, exclusively-listed 

products. Similar to the products 

currently represented by ‘‘Underlying 

Symbol List A,’’ RUT will no longer be 

listed on any other exchange (other than 

C2). As such, the Exchange proposes to 

exclude or include RUT in the same 

programs as the other products in 

Underlying Symbol List A (except as 

otherwise noted below), as well as add 

RUT to the definition of Underlying 

Symbol List A in Footnote 34. 

Specifically, like the other products in 

Underlying Symbol List A, the 

Exchange proposes to except RUT from 

the Liquidity Provider Sliding Scale, the 

Marketing Fee, the Clearing Trading 

Permit Holder Fee Cap (‘‘Fee Cap’’) and 

exemption from fees for facilitation 

orders, and the Order Router Subsidy 

(ORS) and Complex Order Router 

Subsidy (CORS) Programs. Like all other 

products in Underlying Symbol List A 

(with the exception of SROs), the 

Exchange proposes to apply to RUT the 

CBOE Proprietary Products Sliding 

Scale. Unlike the products in 

Underlying Symbol List A, the 

Exchange does intend to keep RUT 

volume in the calculation of qualifying 

volume for the rebate of Floor Broker 

Trading Permit fees. 

Next, as the Exchange proposes to 

include RUT in Underlying Symbol List 

A, the reference to RUT in the ‘‘Index 

Options Rate Table—All Index Products 

Excluding Underlying Symbol List A’’ 

table will be deleted and new references 

to RUT, where applicable, will be added 

to the ‘‘Specified Proprietary Index 

Options Rate Table—Underlying 

Symbol List A’’ table. Additionally, the 

Exchange will add ‘‘RUT’’ to the list of 

products excluded from the Customer 

section of the Index Options Rate Table. 

The Exchange also proposes to spell out 

and add a separate row for the 

remaining products of Underlying 

Symbol List A for Broker-Dealers, NonTrading Permit Holder Market-Makers, 

Professionals/Voluntary Professionals 

and Joint Back Offices (‘‘JBOs’’) 

transaction fees. 

The Exchange also proposes to amend 

certain transaction fees for RUT options. 

Currently, Clearing Trading Permit 

Holder proprietary (‘‘F’’ origin code) 

and Non-Trading Permit Holder 

Affiliate (‘‘L’’ origin code) RUT 

transactions are assessed $0.35 per 

contract for electronic transactions and 

$0.20 per contract for both manual and 

Automated Improvement Mechanism 

(‘‘AIM’’) transactions. The Exchange 

proposes to assess a $0.25 per contract 

transaction fee for all Clearing Trading 

Permit Holder and Non-Trading Permit 

Holder Affiliate transactions, which is 

the same fee amount assessed to 

Clearing Trading Permit Holder 


tkelley on DSK3SPTVN1PROD with NOTICES