Federal Register / Vol. 79, No. 219 / Thursday, November 13, 2014 / Notices 67519 

25 15 U.S.C. 78s(b)(3)(A)(iii). 

26 17 CFR 240.19b–4(f)(6). 

27 17 CFR 240.19b–4(f)(6). 

28 17 CFR 240.19b–4(f)(6)(iii). 

29For purposes of waiving the 30-day operative 

delay, the Commission has considered the proposed 

rule’s impact on efficiency, competition, and capital 

formation. See 15 U.S.C. 78c(f). 

30 15 U.S.C. 78s(b)(2)(B). 

31 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 Nos. 72688 

(July 28, 2014), 79 FR 44941 (SR–BATS–2014–028); 

72690 (July 28, 2014), 79 FR 44929 (SR–BYX–2014– 

Continued 

Exchange believes that the proposed 

rule change is not intended to address 

competitive issues but rather to achieve 

greater consistency between the 

Exchange’s rules and FINRA’s rules 

concerning supervision. 

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 Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 25 and Rule 

19b–4(f)(6) thereunder.26 Because the 

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 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 27 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),28 the Commission 

may designate a shorter period of time 

if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest, 

because it allows the Exchange to 

immediately conform its supervision 

rules to corresponding FINRA rules. 

This will ensure that Dual Members 

generally will be subject to a single set 

of rules governing supervision. As noted 

by the Exchange, the proposal would 

harmonize NYSE and FINRA rules, 

resulting in less burdensome and more 

efficient regulatory compliance. In 

addition, the proposal will update and 

add specificity to the Exchange’s 

requirements governing supervision, 

which will promote just and equitable 

principles of trade and help to protect 

investors. For these reasons, the 

Commission designates the proposed 

rule change to be operative upon 

filing.29

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) 30 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– 

NYSE–2014–56 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–NYSE–2014–56. 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 Section, 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 the 

filing will also be available for 

inspection and copying at the NYSE’s 

principal office. 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–NYSE– 

2014–56 and should be submitted on or 

before December 4, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.31

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26815 Filed 11–12–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73549; File Nos. SR–BATS– 

2014–028; SR–BYX–2014–011; SR–EDGA– 

2014–16; SR–EDGX–2014–19] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; BATS Y-Exchange, 

Inc.; EDGA Exchange, Inc.; EDGX 

Exchange, Inc.; Notice of Withdrawal 

of Proposed Rule Changes To 

Establish a New Market Data Product 

Called the BATS One Feed 

November 6, 2014. 

On July 14, 2014, BATS Exchange, 

Inc. (‘‘BATS’’), EDGA Exchange, Inc. 

(‘‘EDGA’’), and EDGX Exchange, Inc. 

(‘‘EDGX’’) and, on July 18, 2014, BATS 

Y-Exchange, Inc. (together with BATS, 

EDGA, and EDGX, the ‘‘Exchanges’’) 

each 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

proposed rule changes to establish the 

same new market data product called 

the BATS One Feed. The proposed rule 

changes were published for comment in 

the Federal Register on August 1, 2014.3


tkelley on DSK3SPTVN1PROD with NOTICES
67520 Federal Register / Vol. 79, No. 219 / Thursday, November 13, 2014 / Notices 

011); 72689 (July 28, 2014), 79 FR 44917 (SR– 

EDGA–2014–16); and 72691 (July 28, 2014), 79 FR 

44892 (SR–EDGX–2014–19). 4See Letter from Sal Arnuk and Joe Saluzzi, 

Themis Trading LLC, to Elizabeth M. Murphy, 

Secretary, Commission, dated August 21, 2014; and 

Letter from Ira D. Hammerman, General Counsel, 

SIFMA, to Kevin M. O’Neill, Deputy Secretary, 

Commission, dated August 22, 2014 (letters 

commenting on SR–BATS–2014–18). 5See Securities Exchange Act Release Nos. 73101, 

79 FR 56418 (Sept. 19, 2014) (SR–BATS–2014–028); 

73102, 79 FR 56419 (Sept. 19, 2014) (SR–BYX– 

2014–011); 73098, 79 FR 56415 (Sept. 19, 2014) 

(EDGA–2014–16); and 73099, 79 FR 56418 (Sept. 

19, 2014) (SR–EDGX–2014–19). 

6 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(2). 

5Non-Auction Transactions are those transactions 

executed on the BOX Book. 

Two comments on the proposals have 

been received.4 On September 15, 2014, 

the Commission extended the time to 

act on the proposals until October 30, 

2014.5 On October 29, 2014, the 

Exchanges withdrew the proposals (SR– 

BATS–2014–028; SR–BYX–2014–011; 

SR–EDGA–2014–16; SR–EDGX–2014– 

19). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26812 Filed 11–12–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73547; File No. SR–BOX– 

2014–25] 

Self-Regulatory Organizations; BOX 

Options Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change To Amend 

the Fee Schedule on the BOX Market 

LLC (‘‘BOX’’) Options Facility 

November 6, 2014. 

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 October 

31, 2014, BOX Options Exchange LLC 

(the ‘‘Exchange’’) 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 

Exchange filed the proposed rule change 

pursuant to Section 19(b)(3)(A)(ii) of the 

Act,3 and Rule 19b–4(f)(2) thereunder,4

which renders the proposal effective 

upon filing with the Commission. 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 the Substance 

of the Proposed Rule Change 

The Exchange is filing with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

to amend the Fee Schedule to amend 

the Fee Schedule [sic] on the BOX 

Market LLC (‘‘BOX’’) options facility. 

While changes to the fee schedule 

pursuant to this proposal will be 

effective upon filing, the changes will 

become operative on November 1, 2014. 

The text of the proposed rule change is 

available from the principal office of the 

Exchange, at the Commission’s Public 

Reference Room and also on the 

Exchange’s Internet Web site at http://

boxexchange.com. 

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 make a 

number of changes to the BOX Fee 

Schedule. 

Exchange Fees 

Non-Auction Transactions 

First, the Exchange proposes to 

amend Section I (Exchange Fees) to 

establish a subsection entitled ‘‘NonAuction Transactions.’’ 5 The Exchange 

then proposes to adopt the current fee 

structure for Non-Auction Transactions 

in Select Symbols for all Non-Auction 

transactions on BOX. With this change 

the Select Symbols fee structure 

outlined in Section I.C. of the BOX Fee 

Schedule will be removed. 

Currently, Non-Auction Transactions 

in non-Select Symbols are subject to the 

fee structure outlined in Section I of the 

BOX Fee Schedule. For every NonAuction Transaction, Public Customers 

are assessed a $0.07 fee per contract and 

Professional Customers and Broker 

Dealers $0.42 per contract. Market 

Makers are assessed a per contract fee 

based upon the Market Maker’s Monthly 

ADV in all transactions executed on 

BOX, as calculated at the end of each 

month. All Non-Auction Transactions 

for that month are charged the same per 

contract fee according to the ADV 

achieved by the Market Maker, which 

ranges from $0.13 to $0.35. 

In proposed Section I.A. (NonAuction Transactions), the Exchange 

proposes to adopt a pricing model 

where the Exchange will assess 

transaction fees and credits dependent 

upon three factors: (i) The account type 

of the Participant submitting the order; 

(ii) whether the Participant is a liquidity 

provider or liquidity taker; and (iii) the 

account type of the contra party. NonAuction Transactions in Penny Pilot 

Classes will also be assessed different 

fees or credits than Non-Auction 

Transactions in Non-Penny Pilot 

Classes. 

The Exchange also proposes to specify 

that these transactions will now be 

exempt from the Liquidity Fees and 

Credits outlined in Section II of the BOX 

Fee Schedule. The proposed fee 

structure for all Non-Auction 

Transactions is as follows: 

Account type Contra party 

Penny pilot classes Non-penny pilot classes 

Maker 

fee/credit 

Taker 

fee/credit 

Maker 

fee/credit 

Taker 

fee/credit 

Public Customer ................................ Public Customer ............................... $0.00 $0.00 $0.00 $0.00 

Professional Customer/Broker Dealer.(0.22) (0.22) (0.57) (0.57) 

Market Maker ................................... (0.22) (0.22) (0.57) (0.57) 


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