66004 Federal Register / Vol. 79, No. 215 / Thursday, November 6, 2014 / Notices 

1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 

administered by the RRB are dependent 

on input developed from the 

information collection. 

The RRB utilizes Form BA–11 to 

obtain gross earnings information from 

railroad employers. Employers have the 

option of preparing and submitting BA– 

11 reports online via the RRB’s 

Employer Reporting System or on paper 

(or in like format) on magnetic tape 

cartridges, by File Transfer Protocol 

(FTP), or secure Email. The online BA– 

11 includes the option to file a 

‘‘negative report’’ (no employees, or no 

employees with the digits ‘‘30’’). 

Completion is mandatory. One response 

is requested of each respondent. The 

RRB proposes to formally eliminate the 

paper and magnetic tape cartridge 

versions of Form BA–11 from the 

information collection. 

ESTIMATE OF ANNUAL RESPONDENT BURDEN

Form No. Annual 

responses 

Time 

(minutes) 

Burden 

(hours) 

BA–11 File Transfer Protocol ...................................................................................................... 7 300 (5 hours) 35 

BA–11 CD–ROM ......................................................................................................................... 5 30 2 

BA–11 secure E-mail ................................................................................................................... 5 30 2 

BA–11 (Internet)—Positive .......................................................................................................... 137 30 68 

BA–11 (Internet)—Negative ......................................................................................................... 329 15 82 

Total ...................................................................................................................................... 483 ........................ 189 

Additional Information or Comments: 

To request more information or to 

obtain a copy of the information 

collection justification, forms, and/or 

supporting material, contact Dana 

Hickman at (312) 751–4981 or 

Dana.Hickman@RRB.GOV. Comments 

regarding the information collection 

should be addressed to Charles 

Mierzwa, Railroad Retirement Board, 

844 North Rush Street, Chicago, Illinois 

60611–2092 or emailed to 

Charles.Mierzwa@RRB.GOV. Written 

comments should be received within 60 

days of this notice. 

Charles Mierzwa. 

Chief of Information Resources Management. 

[FR Doc. 2014–26365 Filed 11–5–14; 8:45 am] 

BILLING CODE 7905–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73489; File No. SR– 

NYSEARCA–2014–123] 

Self-Regulatory Organizations: NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending the NYSE Arca 

Options Fee Schedule To Modify the 

Fees Related to the Use of Ports That 

Provide Connectivity to the 

Exchange’s Trading Systems for Entry 

of Orders and/or Quotes 

October 31, 2014. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on October 

23, 2014, NYSE Arca, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to amend the 

NYSE Arca Options Fee Schedule (‘‘Fee 

Schedule’’) to modify the fees related to 

the use of ports that provide 

connectivity to the Exchange’s trading 

systems for entry of orders and/or 

quotes. The Exchange proposes to 

implement the fee changes effective 

November 1, 2014. The text of the 

proposed rule 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Fee Schedule to modify the fees related 

to the use of ports that provide 

connectivity to the Exchange’s trading 

systems for entry of orders and/or 

quotes. The Exchange proposes to 

implement the fee changes on 

November 1, 2014. The purpose of the 

proposed fee changes are to ensure a fair 

and reasonable use of Exchange 

resources by allowing the Exchange to 

recoup certain of its connectivity costs 

(described below), while continuing to 

offer competitive rates to OTP Holders 

and OTP Firms (‘‘OTPs’’). 

The Exchange currently makes 

available to OTPs order/quote entry 

ports for connectivity to Exchange 

trading systems (each a ‘‘Port’’). OTPs 

may be authorized to utilize Port(s) for 

option activity on NYSE Arca Options 

and incur monthly Port Fees by the 

Exchange, as set forth in the table 

below. 

PORT FEES: 

ORDER/QUOTE ENTRY PORT * ..................................................... Ports 1–5: no charge. 

Ports 6–100: $200 per port per month. 

Ports 101 and greater: $100 per port per month. 

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Federal Register / Vol. 79, No. 215 / Thursday, November 6, 2014 / Notices 66005 

4An affiliate is a person or firm that directly, or 

indirectly through one or more intermediaries, 

controls or is controlled by, or is under common 

control with, the firm. See Rule 1.1(a). 5The Exchange’s backup datacenter is currently 

located in Chicago, Illinois. The Exchange notes 

that it monitors usage of these particular Ports and, 

accordingly, if an order/quote is sent to the 

Exchange via one of these Ports, then the Port is 

charged the applicable monthly Port Fee. 

6For example, a Market Maker authorized to 

utilize 100 Ports is charged $27,000 in monthly Port 

Fees (i.e., $450 × 40 = $18,000 plus $150 × 60 = 

$9,000). However, if during that month, the Market 

Maker executes at least 50% of their volume in 

open outcry, the Market Maker then becomes 

eligible for a discount of 60%—or a reduction of 

$16,200. However, the proposal caps the amount of 

the available discount to $10,000 per month. Thus, 

in this example, the Port Fees charged would be 

$17,000 ($27,000 less the maximum monthly 

discount of $10,000). 

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

8 15 U.S.C. 78f(b)(4). 

9See Securities and Exchange Release No. 34– 

68230 (November 14, 2012), 77 FR 69670 

(November 20, 2012) (SR–NYSEArca–2012–122). 

Backup datacenter port: no fee unless utilized during the relevant 

month, in which case, above fees shall apply. 

* For purpose of calculating the number of order/quote entry ports, the Exchange shall aggregate the ports of affiliates.4

Thus, while there is no charge to an 

OTP authorized to utilize five Ports, an 

OTP will, for example, pay $200 per 

month for a sixth Port. Once OTPs 

exceed the first five Ports, the charges 

may look as follows: An OTP authorized 

to utilize 50 Ports is charged $9,000 in 

monthly Port Fees (i.e., 45 × $200); 100 

Ports is charged $19,000 in monthly 

Port Fees (i.e., 95 × $200); or 120 Ports 

is charged $21,000 in monthly Ports 

Fees (i.e., 95 × $200 plus 20 × $100). 

Finally, unutilized Ports that connect to 

the Exchange via its backup datacenter 

are considered to have been established 

for backup purposes and are not charged 

Port Fees.5

At this time, the Exchange is 

proposing to modify its Port Fees as set 

forth in the table below, with new 

charges appearing underlined and 

deletions appearing in brackets. 

PORT FEES: 

ORDER/QUOTE ENTRY PORT * ..................................................... [Ports 1–5: no charge]. 

[Ports 6–100: $200 per port per month]. 

Ports 1–40: $450 per port per month. 

Ports [101]41 and greater: [$100]$150 per port per month. 

NYSE Arca Market Maker Open Outcry Discount ................................... Any NYSE Arca Market Maker that executes 50% or more of their market maker volume in open outcry shall receive a discount on their 

monthly port fees of 60%, not to exceed a maximum dollar discount 

of $10,000 per month. 

In sum, the Exchange is proposing to 

no longer offer Ports 1–5 free of charge 

and will instead charge OTPs $450 per 

Port, per month for the first 40 Ports that 

an OTP is authorized to utilize. The 

Exchange further proposes to charge 

$150 per Port, per month for any Port 

in excess of 40 for which an OTP is 

authorized. Using the example above, an 

OTP would be charged as follows: An 

OTP authorized to utilize 50 Ports 

would be charged $19,500 in monthly 

Port Fees (i.e., 40 × $450 plus 10 × 

$150); 100 Ports is charged $27,000 in 

monthly Port Fees (i.e., 40 × $450 plus 

60 × $150); or 120 Ports is charged 

$30,000 in monthly Ports Fees (i.e., 40 

× $450 plus 80 × $150). In addition, the 

Exchange proposes to offer a discount 

on monthly Port Fees of 60%, not to 

exceed $10,000, for any NYSE Arca 

Market Maker that execute at least 50% 

of their Market Maker volume in open 

outcry in any given month.6

The Exchange proposes to implement 

these changes on November 3, 2014[sic]. 

In this regard, as is the case today, the 

Exchange notes that billing for Ports 

would continue to be based on the 

number of Ports for which an OTP has 

been authorized for option activity on 

the third business day prior to the end 

of the month. Similarly, the Exchange 

would continue to assess the Port Fees 

based on the number of Ports 

authorized—except for Ports that are 

considered established for backup 

purposes—such that the level of activity 

with respect to a particular Port would 

not affect the assessment of monthly 

fees. With regard to the discount on 

monthly Port Fees for Market Maker 

volume executed in open outcry, the 

measurement period for billing 

purposes will be based on the activity 

in the month prior, such that September 

Market Maker volumes will be used to 

decide if the Market Maker qualified for 

the 60% discount on their October Port 

Fees. 

The Exchange is also proposing a nonsubstantive, formatting change to the 

section of the fee schedule that applies 

to Port Fees. The Exchange is proposing 

to re-format that section of the Fee 

Schedule as a table with distinct rows 

and columns to make the Fee Schedule 

easier for participants to understand. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Securities Exchange 

Act of 1934 (the ‘‘Act’’),7 in general, and 

furthers the objectives of Section 6(b)(4) 

of the Act,8 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 that the 

proposed fee changes are reasonable, 

equitable and not unfairly 

discriminatory because they are 

designed to ensure a fair and reasonable 

use of Exchange resources by allowing 

the Exchange to recoup for certain of its 

connectivity costs, while continuing to 

offer competitive rates to OTPs. The 

Exchange notes that it has not increased 

its Port Fees since November 2012,9 and 

the proposed increases are intended to 

adjust the Port Fees to reflect the 

increased costs that the Exchange bears 

with respect to maintaining the Ports. 

Specifically, the Exchange believes that 

the proposed increase in Port Fees are 

reasonable because the proposed fees 

charged for Ports would enable the 

Exchange to offset, in part, its 

connectivity costs associated with 

making such Ports available, including 

costs based on gateway software and 

hardware enhancements and resources 

dedicated to gateway development, 

quality assurance, and support. In this 

regard, the Exchange believes that the 

proposed Port Fees are in line with 

those charged by other venues, and that 

in some cases its Port Fees would be 

less expensive than many of its primary 

competitors. For example, the Chicago 

Board Options Exchange (‘‘CBOE’’) 

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66006 Federal Register / Vol. 79, No. 215 / Thursday, November 6, 2014 / Notices 

10See CBOE Fee Schedule available here, http:// 

www.cboe.com/publish/feeschedule/

CBOEFeeSchedule.pdf (CBOE Command 

Connectivity Charges, at p 10). 

11See NOM Price List, available here, http://

nasdaq.cchwallstreet.com/NASDAQTools/

bookmark.asp?id=nasdaq-rule-options_

XVS3&manual=/nasdaq/main/nasdaq-optionsrules 

(Section 3, NASDAQ Options Market—Access 

Services). 

12See supra nn. 10–11. 

13For example, as of October 9, 2014, there were 

more than 2350 individual option series overlying 

Chipotle Mexican Grill, Inc. (NYSE: CMG). 

14These figures are valid as of October 9, 2014. 

15See the NYSE Amex Options Fee Schedule, 

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

nyse/markets/amex-options/NYSE_Amex_Options_

Fee_Schedule.pdf (charging lower ATP fees for 

Floor Market Makers, based on volume transacted 

in open outcry, to encourage their presence and 

participation in the outcry markets on the trading 

floor). 16 15 U.S.C. 78f(b)(8). 

charges $500 per port per month for a 

Network Access Port.10 The NASDAQ 

Options Market (‘‘NOM’’) charges $550 

per port per month.11

The Exchange believes that the 

proposed fees are reasonable, equitable 

and not unfairly discriminatory 

because—just as they do today—OTPs 

are able to request, and pay for, only 

those Ports that they require, with no 

impact to other OTPs. 

The Exchange believes that it is 

reasonable, equitable and not unfairly 

discriminatory to no longer offer the 

first five ports free of charge as all OTPs 

are being treated in the same manner. 

Further, as noted above, the Exchange 

believes that the proposed fee changes 

are reasonable, equitable and not 

unfairly discriminatory because they are 

designed to ensure a fair and reasonable 

use of Exchange resources by allowing 

the Exchange to recoup for certain of its 

connectivity costs, while continuing to 

offer competitive rates to OTPs. 

The Exchange believes that the 

proposed monthly per Port fee of $450 

for the first 40 Ports is reasonable, 

equitable and not unfairly 

discriminatory because it is comparable 

to the rates of other exchanges.12 The 

Exchange also believes that the 

proposed fees are equitable and not 

unfairly discriminatory because they 

would apply to all OTPs that utilize 

Ports for options activity on the 

Exchange. 

The Exchange also believes that it is 

reasonable, equitable and not unfairly 

discriminatory to decrease the monthly 

per Port rate from $450 to $150 once an 

OTP has exceeded 40 Ports (i.e., a 

monthly per Port charge of $150 for 

Ports 41+). Specifically, reducing the 

monthly fee to $150 per Port when an 

OTP needs to utilize more than 40 Ports 

would enable those firms to maintain 

those connections to the Exchange, 

while helping to offset the increased 

costs of that connection. In addition, the 

reduced fee is likewise appropriate 

given that certain market participants, 

particularly options Market Makers, 

require more than 40 Ports in order to 

satisfy their responsibilities and 

obligations to investors, which stem 

from the significant number of series 

that exist for any particular option 

class 13 and the requirement for NYSE 

Arca Market Makers to maintain a bid 

or offer in assigned classes. 

Furthermore, Market Makers that quote 

across a significant number, if not all, of 

the 2,602 classes traded on the 

Exchange have responsibility for 

upwards of 650,000 individual option 

series.14 Accordingly, the level of 

activity that is required to satisfy a 

Market Maker’s quoting obligations, 

which directly relates to the number of 

Ports required, is such that the 

Exchange believes it is reasonable, 

equitable and not unfairly 

discriminatory to offer a reduced fee to 

OTPs that utilize more than 40 Ports on 

the Exchange in a given month. 

Further, the Exchange believes that 

the proposal to offer a 60% discount on 

Port Fees, not to exceed a maximum 

discount of $10,000 per month, to those 

Market Makers that execute at least 50% 

of their market maker volume in a given 

month in open outcry is also reasonable, 

equitable and not unfairly 

discriminatory. First, the Exchange 

believes that the trading floor plays an 

important role in the options market. 

Specifically, trading floors provide price 

discovery for large or complex strategies 

not easily exposed in electronic 

auctions. In order to encourage robust 

participation in the Exchange’s outcry 

markets, the Exchange believes that it is 

reasonable to offer a discount in the 

manner described for those Market 

Makers that continue to provide price 

discovery in open outcry as evidenced 

by the relative level of their market 

maker volume executed in open outcry. 

The Exchange notes that other options 

exchanges offer similar discounts in the 

to encourage market makers to maintain 

a presence in the open outcry market.15

As the proposed discount is available 

to any Market Maker that executes at 

least 50% of their market maker volume 

in open outcry, the Exchange believes 

that the current proposal is not unfairly 

discriminatory as any market making 

firm can seek to place individual traders 

on the trading floor. The Exchange 

believes the proposal is reasonable and 

equitable as the price discovery found 

in the outcry markets benefits all 

participants. The Exchange notes that 

the proposed discount would apply for 

those Market Makers that reach or 

exceed the volume threshold for open 

outcry transactions. The Exchange 

believes that this threshold has been 

appropriately set to provide an 

incentive for floor-based market making 

because this threshold represents a level 

where the preponderance of volume is 

in open outcry and therefore not 

dependent on a Port, but a Port is 

nonetheless necessary to meet Market 

Maker quoting obligations. The 

Exchange notes that Market Makers that 

do not meet this volume threshold for 

their options activity in open outcry 

would continue to be charged at the 

same rate for Port Fees as all other 

OTPs. 

The Exchange believes that the 

proposal to re-format the section of the 

fee schedule describing Port Fees into a 

table, with distinct rows and columns, 

is reasonable, equitable and not unfairly 

discriminatory as the proposed change 

will reduce confusion and will make the 

fee schedule more transparent and 

easier for all participants to understand. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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

the Act,16 the Exchange does not believe 

that the proposed rule change would 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The Exchange believes the proposed fee 

change is reasonably designed to be fair 

and equitable, and therefore, will not 

unduly burden any particular group of 

market participants trading on the 

Exchange vis-a`-vis another group (i.e., 

Market Markers versus non-Market 

Makers). Specifically, the Exchange 

believes that the reduced fee for OTPs 

that utilize more than 40 Ports will 

relieve any undue burden that the 

proposed fee change might have on 

Marker Makers. Further, the Exchange 

believes that the proposed discount to 

the monthly Port Fee, capped at $10,000 

for those Market Maker that executes at 

least 50% of their market maker volume 

in open outcry, likewise does not 

impose any undue burden on 

competition among and between market 

participants because as any market 

making firm can seek to place 

individual traders on the trading floor. 

In addition, the Exchange believes that 

the proposed changes will enhance the 

competiveness of the Exchange relative 

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Federal Register / Vol. 79, No. 215 / Thursday, November 6, 2014 / Notices 66007 

17See supra nn. 10–11. 

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). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

to other exchanges and, as noted above, 

the increased fees are comparable to 

port fees offered by competing option 

exchanges.17 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– 

NYSEARCA–2014–123 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. 

All submissions should refer to File 

Number SR–NYSEARCA–2014–123. 

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– 

NYSEARCA–2014–123 and should be 

submitted on or before November 28, 

2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26348 Filed 11–5–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73490; File No. SR– 

NYSEMKT–2014–92] 

Self-Regulatory Organizations: NYSE 

MKT LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending the NYSE 

Amex Options Fee Schedule To Modify 

the Fees Related to the Use of Ports 

That Provide Connectivity to the 

Exchange’s Trading Systems for Entry 

of Orders and/or Quotes 

October 31, 2014. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on October 

23, 2014, NYSE MKT LLC (the 

‘‘Exchange’’ or ‘‘NYSE MKT’’) 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 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to amend the 

NYSE Amex Options Fee Schedule 

(‘‘Fee Schedule’’) to modify the fees 

related to the use of ports that provide 

connectivity to the Exchange’s trading 

systems for entry of orders and/or 

quotes. The Exchange proposes to 

implement the fee changes effective 

November 3, 2014. The text of the 

proposed rule 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, 

mstockstill on DSK4VPTVN1PROD with NOTICES