Federal Register / Vol. 79, No. 212 / Monday, November 3, 2014 / Notices 65279 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See SR–BX–2014–050. 

4The Exchange invoice specifies the Exchange 

contact persons with whom to dispute the invoice. 

5This proposal would not apply to invoices 

related to November 2014 billing. 

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

7 15 U.S.C. 78f(b)(5). 

8See Chapter XV, Section 7 in the BX Rules. 

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 OCC and on OCC’s Web site at 

http://www.theocc.com/components/

docs/legal/rules_and_bylaws/sr_occ_14_

19.pdf. 

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–OCC–2014–19 and should 

be submitted on or before November 24, 

2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26009 Filed 10–31–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73452; File No. SR–BX– 

2014–054] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Billing Policy 

October 28, 2014. 

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 October 

24, 2014, NASDAQ OMX BX, Inc. (‘‘BX’’ 

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 

Exchange Rule 7011, and re-title it 

‘‘Collection of Exchange Fees and Other 

Claims and Billing Policy,’’ and to 

require BX members to submit billing 

disputes within a certain time period. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqomxbx.

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 the proposed rule 

change is to amend Rule 7011, which 

was recently filed,3 to require all pricing 

disputes to be submitted to the 

Exchange in writing 4 and accompanied 

by supporting documentation within 

sixty days of receipt of an invoice. The 

Exchange believes that this practice will 

conserve Exchange resources which are 

expended when untimely billing 

disputes require staff to research 

applicable fees and order information 

beyond two months after the transaction 

occurred. 

The sixty days would first apply to 

invoices related to transactional billing 

in December 2014 and would apply 

thereafter.5 The Exchange proposes to 

apply the billing policy in Rule 7011 to 

the following 7000 series Rules: 7001 

(Membership Fees), 7015 (Access 

Services), 7016 (BX Pre-Trade Risk 

Management), 7018 (NASDAQ OMX BX 

Equities System Order Execution and 

Routing), 7021 (BX Trading and 

Compliance Data Package Fee), 7027 

(Aggregation of Activity of Affiliated 

Members), 7029 (Installation, Removal 

or Relocation), 7030 (Other Services), 

7034 (Co-Location Services), 7051 

(Direct Connectivity to BX), 7055 (Short 

Sale Monitor), 7058 (QView). 

Further, this proposal would provide 

a cost savings to the Exchange in that it 

would alleviate administrative 

processes related to the untimely review 

of billing disputes which divert staff 

resources away from the Exchange’s 

regulatory and business purposes. 

In addition, the Exchange proposes to 

amend the title of Exchange Rule 7011 

from ‘‘Collection of Exchange Fees and 

Other Claims’’ to ‘‘Collection of 

Exchange Fees and Other Claims and 

Billing Policy.’’ The Exchange believes 

that the proposed title provides a more 

specific description of Rule 7011. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 6 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 7

in particular, in that it is designed to 

promote just and equitable principles of 

trade, 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, by 

providing a uniform practice for 

disputing fees. 

The Exchange believes the 

requirement that all pricing disputes, for 

certain specified fees and rebates, must 

be submitted to the Exchange within 

sixty days from receipt of the invoice 

will provide its members with guidance 

on disputing pricing. The proposal 

equally applies to all BX members. Also, 

the Exchange’s administrative costs 

would be lowered as a result of this 

policy because staff resources would not 

be diverted to review untimely requests 

regarding billing. 

The Exchange believes that sixty days 

is ample time to review an invoice and 

dispute any pricing related to the 

transactions for that time period. This 

policy applies today with respect to BX 

Options billing.8 The Exchange is 

seeking to apply this policy to all BX 

members alike in the same manner. 

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 that is not 

necessary or appropriate in furtherance 

mstockstill on DSK4VPTVN1PROD with NOTICES

65280 Federal Register / Vol. 79, No. 212 / Monday, November 3, 2014 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

of the purposes of the Act. The billing 

policy would apply uniformly to all BX 

equity members as it does today with all 

Options Participants. All BX members 

would be subject to this policy. 

Further, this proposal would provide 

a cost savings to the Exchange in that it 

would alleviate administrative 

processes related to the untimely review 

of billing disputes which divert staff 

resources away from the Exchange’s 

regulatory and business purposes. 

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 significantly affect the 

protection of investors or the public 

interest; does not impose any significant 

burden on competition; and by its terms 

does not 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) 9 of the 

Act and Rule 19b–4(f)(6) thereunder.10

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– 

BX–2014–054 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–BX–2014–054. 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 

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–BX– 

2014–054, and should be submitted on 

or before November 24, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26012 Filed 10–31–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73451; File No. SR–ICC– 

2014–17] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Notice of Filing of 

Proposed Rule Change To Revise ICC 

End-of-Day Price Discovery Policies 

and Procedures 

October 28, 2014. 

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 October 

17, 2014, ICE Clear Credit LLC (‘‘ICC’’) 

filed with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared primarily by ICC. 

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 principal purpose of the 

proposed rule change is to revise the 

ICC End-of-Day Price Discovery Policies 

and Procedures to incorporate 

enhancements to its price discovery 

process. This revision does not require 

any changes to the ICC Clearing Rules 

(‘‘Rules’’). 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, ICC 

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. ICC has prepared 

summaries, set forth in sections A, B, 

and C below, of the most significant 

aspects of these statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

ICC proposes revising the ICC End-ofDay Price Discovery Policies and 

Procedures to incorporate 

enhancements to its price discovery 

process. 

ICC believes such revisions will 

facilitate the prompt and accurate 

mstockstill on DSK4VPTVN1PROD with NOTICES