4350 Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices 

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

2 17 CFR 240.19b–4. 

3The Exchange originally filed this proposed rule 

change on January 04, 2016 under File No. SR– 

NYSEMKT–2016–01. The Exchange subsequently 

withdrew that filing on January 13, 2016 and filed 

this proposed rule change. 

4For example, Miami Securities International 

Exchange, LLC (‘‘MIAX’’) charges $0.45 to firms and 

$0.47 to non-MIAX market makers, broker dealers 

and public customers other than priority customers 

for execution in Penny Pilot issues (see MIAX fee 

schedule, available here, https://www.miaxoptions.

com/content/fees); and NASDAQ OMX PHLX LLC 

(‘‘PHLX’’) charges $0.48 to professional customers, 

broker dealers and firms for execution in Penny 

Pilot issues (see PHLX fee schedule, available here, 

http://www.nasdaqtrader.com/Micro.aspx?id=PHLX

Pricing). In addition, NYSE Arca, Inc. (‘‘NYSE 

Arca’’), NASDAQ Options Market LLC (‘‘NOM’’) 

and BATS BZX Exchange (‘‘BATS’’) all charge a 

$0.50 take fee for removing liquidity in Penny Pilot 

issues. See NYSE Arca fee schedule, available here, 

https://www.nyse.com/publicdocs/nyse/markets/

arca-options/NYSE_Arca_Options_Fee_

Schedule.pdf; NOM fee schedule, available here, 

http://www.nasdaqtrader.com/Micro.aspx?id=

OptionsPricing; and BATS fee schedule, available 

here, http://www.batsoptions.com/support/fee_

schedule/. 

5For example, MIAX charges $0.29 to MIAX 

market makers and $0.75 to non-MIAX market 

makers, firms, broker dealers and public customers 

other than priority customers for executions in nonPenny Pilot issues (see id., MIAX fee schedule); 

PHLX charges $0.25 to specialists and market 

makers and $0.75 to professional customers, broker 

dealers and firms per execution in Non-Penny 

issues (see id., PHLX fee schedule); and CBOE 

charges $0.75 to broker dealers, non-CBOE market 

makers and professionals per execution in nonPenny Pilot issues (see The Chicago Board Options 

Exchange, Inc. (‘‘CBOE’’) fee schedule, http://www.

cboe.com/publish/feeschedule/CBOEFee

Schedule.pdf). In addition, the BOX Options 

Exchange, LLC (‘‘BOX’’) assesses fees greater than 

$1.00 to non-Customers for executions against 

Public Customer interest in non-Penny Pilot issues 

and NYSE Arca charges a $0.99 take fee to lead 

market makers, market makers, firms and broker 

dealers for executions in non-Penny Pilot issues. 

See NYSE Arca fee schedule, available here, https:// 

www.nyse.com/publicdocs/nyse/markets/arcaoptions/NYSE_Arca_Options_Fee_Schedule.pdf; 

and BOX fee schedule, available here, http://box

exchange.com/assets/BOX_Fee_Schedule.pdf. 

6See Fee Schedule, Section I.C.(NYSE Amex 

Options Market Maker Sliding Scale—Electronic), 

available here, https://www.nyse.com/publicdocs/

nyse/markets/amex-options/NYSE_Amex_Options_

Fee_Schedule.pdf. 

(CIK No. 1335104), a void Delaware 

corporation located in Boca Raton, 

Florida with a class of securities 

registered with the Commission 

pursuant to Exchange Act Section 12(g) 

because it is delinquent in its periodic 

filings with the Commission, having not 

filed any periodic reports since it filed 

a Form 10–Q for the period ended 

September 30, 2011. On February 19, 

2015, Corporation Finance sent a 

delinquency letter to VCRTQ requesting 

compliance with its periodic filing 

requirements but VCRTQ did not 

receive the delinquency letter due to its 

failure to maintain a valid address on 

file with the Commission as required by 

Commission rules (Rule 301 of 

Regulation S–T, 17 CFR Section 232.301 

and Section 5.4 of EDGAR Filer 

Manual). As of January 13, 2016, the 

common stock of VCRTQ was quoted on 

OTC Link, had seven market makers, 

and was eligible for the ‘‘piggyback’’ 

exception of Exchange Act Rule 15c2– 

11(f)(3). 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

companies. Therefore, it is ordered, 

pursuant to Section 12(k) of the 

Securities Exchange Act of 1934, that 

trading in the securities of the abovelisted companies is suspended for the 

period from 9:30 a.m. EST on January 

22, 2016, through 11:59 p.m. EST on 

February 4, 2016. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 2016–01613 Filed 1–22–16; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–76935; File No. SR– 

NYSEMKT–2016–09] 

Self-Regulatory Organizations; NYSE 

MKT LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Modifying the NYSE 

Amex Options Fee Schedule 

January 20, 2016. 

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 January 

13, 2016, NYSE MKT LLC (the 

‘‘Exchange’’ or ‘‘NYSE MKT’’) 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 modify the 

NYSE Amex Options Fee Schedule 

(‘‘Fee Schedule’’). The Exchange 

proposes to implement the fee change 

effective January 13, 2016.3 The 

proposed 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 purpose of this filing is to amend 

Sections I. A., C. and E of the Fee 

Schedule to adjust fees and credits 

payable, effective on January 13, 2016. 

Section I.A. of the Fee Schedule sets 

forth the rates for Standard Option 

transactions. The Exchange is proposing 

to increase rates per contract for 

Electronic transactions. Specifically, the 

Exchange proposes to increase rates for 

Electronic transactions in issues in the 

Penny Pilot program from $0.44 to $0.50 

for Broker Dealers, Professional 

Customers and Non-NYSE Amex 

Options Market Makers; from $0.34 to 

$0.42 for Firms; and $0.23 to $0.25 for 

DOMMs, e-Specialists, NYSE Amex 

Options Market Makers and Specialists. 

These rates are competitive with rates 

being charged on other exchanges for 

Electronic executions in Penny Pilot 

issues.4

The Exchange also proposes to 

increase rates per contract for Electronic 

transactions in issues that are not part 

of the Penny Pilot program from $0.58 

to $0.75 for Broker Dealers, Firms, 

Professional Customers and Non-NYSE 

Amex Options Market Makers; and 

$0.23 to $0.25 for DOMMs, eSpecialists, NYSE Amex Options Market 

Makers and Specialists. These rates are 

competitive with rates being charged on 

other exchanges for Electronic 

executions in non-Penny Pilot issues.5

Section I.C. of the Fee Schedule 

currently provides a discount to NYSE 

Amex Options Market Maker 

transaction fees based on a sliding 

volume scale (the ‘‘Sliding Scale’’ [sic].6

Specifically, an NYSE Amex Options 

Market Maker that has monthly volume 

on the Exchange of 0.10% or less of total 

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Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices 4351 

7The volume thresholds are based on an NYSE 

Amex Options Market Makers’ volume transacted 

Electronically as a percentage of total industry 

Customer equity and ETF options volumes as 

reported by the Options Clearing Corporation (the 

‘‘OCC’’). Total industry Customer equity and ETF 

option volume is comprised of those equity and 

ETF contracts that clear in the Customer account 

type at OCC and does not include contracts that 

clear in either the Firm or Market Maker account 

type at OCC or contracts overlying a security other 

than an equity or ETF security. See OCC Monthly 

Statistics Reports, available here, http://www.

theocc.com/webapps/monthly-volume-reports. 

8 In calculating an NYSE Amex Options Market 

Maker Electronic volumes, the Exchange excludes 

any volumes attributable to Mini Options, QCC 

trades, CUBE Auctions, and Strategy Execution Fee 

Caps, as these transactions are subject to separate 

pricing described in Fee Schedule Sections I.B., I.F., 

I.G., and I.J, respectively. See Fee Schedule, Section 

I.C, supra n. 6. 

9See supra nn. 4, 5. 

10See supra n. 8. 

11The Commission notes that, consistent with 

this change, the Exchange proposes to add crossreferences to Section I.C. in Section I.D. of the Fee 

Schedule. See Fee Schedule, Section I.D. 

(describing both the 1- and 3- year Prepayment 

Programs), see supra n. 6. 

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

13 15 U.S.C. 78f(b)(4) and (5). 

14See supra nn. 4, 5. 

15See supra nn. 4, 5. 

16See BATS fee schedule, available here, 

http://www.batsoptions.com/support/fee_schedule/ 

(offering a ‘‘Customer Step-Up Volume Tier’’ based 

on a member achieving ‘‘Options Step-Up Add 

TCV’’ as well as ‘‘NBBO Setter Tiers.). See, e.g., 

Securities and Exchange Release No. 76411 

(November 10, 2015), 80 FR 71892, 71893 

(November 17, 2015) (SR–BATS–2015–98) (among 

other changes, adopting a Step-Up Volume Tier, 

which BATS characterized as being ‘‘[s]imilar to 

other pricing where the Exchange seeks to 

incentivize growth by providing tiered pricing 

based on a Member’s participation increase over 

time’’). 

industry Customer equity and exchange 

traded fund (‘‘ETF’’) options volume 7 is 

charged a base rate of $0.23 and, these 

same market participants, upon 

reaching certain volume thresholds, or 

Tiers, receive a reduction of this per 

contract rate.8 The Exchange is 

proposing to raise these rates across all 

Tiers by $0.02, which is competitive 

with base rates charged to market 

makers on other exchanges.9 In 

addition, the Exchange is proposing to 

eliminate Tier 7 because Market Makers 

were not availing themselves of this 

Tier. With this change, Tier 6 would be 

the highest achievable Tier available to 

Market Makers that achieved Electronic 

volume of greater than 1.75% total 

industry Customer equity and ETF in a 

given month. Finally, the Exchange is 

proposing to offer an alternative means 

for Market Makers to qualify for the 

reduced per contract rate charged at 

each Tier of the Sliding Scale which is 

currently available to Market Makers 

that execute posting volumes in excess 

of 0.85% of Industry Customer Equity 

and ETF Option Volume.10 The 

Exchange proposes to make the Sliding 

Scale rates available to those Market 

Makers participating in either of the 

Prepayment Programs offered by the 

Exchange.11

Section I.E. of the Fee Schedule 

describes the Exchange’s ACE Program, 

which features five tiers expressed as a 

percentage of total industry Customer 

equity and ETF option average daily 

volume and provides two alternative 

methods through which Order Flow 

Providers may receive per contract 

credits for Electronic Customer volume 

that the OFP, as agent, submits to the 

Exchange. The Exchange is proposing 

two amendments to Tier 2 of the 

Program. First, the Exchange proposes 

to increase the base rebate (i.e., 

Customer Volume Credits not tied to 

either Prepayment Program) from $0.13 

to $0.14. Second, the Exchange proposes 

to offer an additional method for which 

OFPs can qualify for Tier 2. Specifically, 

as proposed, an ATP Holder may qualify 

for Tier 2 by increasing Customer 

Electronic ADV by 0.35% or more of 

Industry Customer Equity and ETF 

Options ADV from its volumes in 

October 2015. The Exchange’s proposal 

is intended to incentivize OFPs to 

increase its [sic] Customer Electronic 

volumes even if they do not have the 

volumes equating to 0.60% Industry 

Customer Equity and ETF Options ADV 

(the current qualification basis to meet 

Tier 2). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,12 in general, and 

furthers the objectives of Sections 

6(b)(4) and (5) of the Act,13 in particular, 

because it provides for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members, 

issuers and other persons using its 

facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. 

The Exchange believes the proposed 

change to the transaction rates for 

Electronic transactions are reasonable, 

equitable and not unfairly 

discriminatory because the rates are 

competitive with fees charged by other 

exchanges and are designed to attract 

(and compete for) order flow to the 

Exchange, which provides a greater 

opportunity for trading by all market 

participants.14

The Exchange believes the proposed 

change to the reduce [sic] rates per 

contract on the Sliding Scale are 

reasonable, equitable and not unfairly 

discriminatory because the rates are 

competitive with fees charged by other 

exchanges and are designed to attract 

(and compete for) order flow to the 

Exchange, which provides a greater 

opportunity for trading by all market 

participants.15 In addition, the 

Exchange believes that the proposal to 

make all Market Makers participating in 

one of the Exchange’s Prepayment 

Programs eligible to avail themselves of 

the Sliding Scale is reasonable, 

equitable and not unfairly 

discriminatory because it may 

encourage additional market making 

firms to participate in one of these 

Programs, which could result in 

increased capital (and resulting 

liquidity) being committed to the 

Exchange to the benefit of all market 

participants. The proposed change 

would also incentivize Market Makers 

already enrolled in a Prepayment 

Program to increase posted liquidity on 

the Exchange, which would benefit all 

Exchange participants, including ATP 

Holders, through increased 

opportunities to trade as well as 

enhancing price discovery. The 

Exchange also believes that eliminating 

Tier 7 from the Sliding Scale is 

reasonable, equitable and not unfairly 

discriminatory because it removes an 

incentive that was never utilized, 

thereby adding clarity and transparency 

to the Fee Schedule. 

Finally, the Exchange believes that 

the proposed changes to the ACE 

Program are reasonable, equitable and 

not unfairly discriminatory because the 

credits offered are based on the amount 

of business transacted on the Exchange. 

The Exchange believes the proposal to 

enable ATP Holders to be eligible for 

Tier 2 based on an increase in volume 

over their October 2015 volume is 

reasonable, equitable and not unfairly 

discriminatory because it encourages 

ATP Holders to maintain increased 

volumes executed on the Exchange. 

Moreover, the proposed alternative basis 

for achieving Tier 2 would enable those 

ATP Holders that are otherwise 

ineligible for the ACE Program tiers (i.e., 

because of insufficient monthly volume) 

to qualify by increasing or ‘‘stepping 

up’’ their own volume executed on the 

Exchange. The Exchange notes that 

offering so-called ‘‘step up’’ pricing or 

tiers that use a particular month as a 

benchmark for incentives is not new or 

novel.16

In addition, the Exchange believes 

that the proposed amendments to the 

ACE Program are reasonable, equitable 

and not unfairly discriminatory because 

they would enhance the incentives to 

Order Flow Providers to transact 

Customer orders on the Exchange, 

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4352 Federal Register / Vol. 81, No. 16 / Tuesday, January 26, 2016 / Notices 

17 15 U.S.C. 78f(b)(8). 

18 15 U.S.C. 78s(b)(3)(A). 

19 17 CFR 240.19b–4(f)(2). 

20 15 U.S.C. 78s(b)(2)(B). 21 17 CFR 200.30–3(a)(12). 

which would benefit all market 

participants by providing more trading 

opportunities and tighter spreads, even 

to those market participants that do not 

participate in the ACE Program. 

Additionally, the Exchange believes the 

proposed changes to the ACE Program 

are consistent with the Act because they 

may attract greater volume and liquidity 

to the Exchange, which would benefit 

all market participants by providing 

tighter quoting and better prices, all of 

which perfects the mechanism for a free 

and open market and national market 

system. 

For these reasons, the Exchange 

believes that the proposal is consistent 

with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act,17 the Exchange does not believe 

that the proposed rule change will 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange acknowledges that the 

proposed changes relating to transaction 

charges and/or credits, including the 

Sliding Scale and ACE Program, may 

increase both intermarket and 

intramarket competition by incenting 

participants to direct their orders to the 

Exchange, which will enhance the 

quality of quoting and may increase the 

volume of contracts traded on the 

Exchange. To the extent this purpose is 

achieved, the Exchange believes the 

proposed amendments are procompetitive and any resulting increase 

in volume and liquidity to the Exchange 

would benefit all of Exchange 

participants through increased 

opportunities to trade as well as 

enhancing price discovery. 

The Exchange notes that it operates in 

a highly competitive market in which 

market participants can readily favor 

competing venues. In such an 

environment, the Exchange must 

continually review, and consider 

adjusting, its fees and credits to remain 

competitive with other exchanges. For 

the reasons described above, the 

Exchange believes that the proposed 

rule change reflects this competitive 

environment. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 18 of the Act and 

subparagraph (f)(2) of Rule 19b–4 19

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

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) 20 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–2016–09 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–2016–09. 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 

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–2016–09, and should be 

submitted on or before February 16, 

2016. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Brent J. Fields, 

Secretary. 

[FR Doc. 2016–01391 Filed 1–25–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[SEC File No. 270–330, OMB Control No. 

3235–0645] 

Submission for OMB Review; 

Comment Request 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE., Washington, DC 

20549–2736. 

Extension: 

Interactive Data 

Notice is hereby given that, pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.), the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collection of information 

discussed below. 

The ‘‘Interactive Data’’ collection of 

information requires issuers filing 

registration statements under the 

Securities Act of 1933 (15 U.S.C. 77a et 

seq.) and reports under the Securities 

Exchange Act of 1934 (15 U.S.C. 78a et 

seq.) to submit specified financial 

information to the Commission and post 

it on their corporate Web sites, if any, 

in interactive data format using 

mstockstill on DSK4VPTVN1PROD with NOTICES