69902 Federal Register / Vol. 79, No. 226 / Monday, November 24, 2014 / Notices 

11 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. 

4See Securities Exchange Act Release No. 73011 

(September 5, 2014), 79 FR 54315 (September 11, 

2014) (SR–NYSEARCA–2014–93) (‘‘2014 Filing’’). 

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

6 15 U.S.C. 78f(b)(5). 

7See supra n. 4. 

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–C2– 

2014–026 and should be submitted on 

or before December 15, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–27703 Filed 11–21–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73619; File No. SR– 

NYSEARCA–2014–132] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change to the NYSE Proprietary 

Market Data Fee Schedule (‘‘Market 

Data Fee Schedule’’) Regarding NonDisplay Use Fees 

November 18, 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 

November 7, 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 change to 

the NYSE Proprietary Market Data Fee 

Schedule (‘‘Market Data Fee Schedule’’) 

regarding non-display use fees. 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes a change to 

the Market Data Fee Schedule regarding 

non-display use fees for NYSE Arca 

Integrated Feed, NYSE ArcaBook, NYSE 

Arca Trades and NYSE Arca BBO, the 

market data products to which nondisplay use fees apply. Specifically, 

with respect to the three categories of, 

and fees applicable to, market data 

recipients for non-display use, the 

Exchange proposes to describe the three 

categories in the Market Data Fee 

Schedule. 

In September 2014, the Exchange 

revised the fees for non-display use of 

NYSE Arca Integrated Feed, NYSE 

ArcaBook, NYSE Arca Trades and NYSE 

Arca BBO.4 In the 2014 Filing, the 

Exchange proposed certain changes to 

the categories of, and fees applicable to, 

data recipients for non-display use. As 

set forth in the 2014 Filing: (i) Category 

1 Fees apply when a data recipient’s 

non-display use of real-time market data 

is on its own behalf as opposed to use 

on behalf of its clients; (ii) Category 2 

Fees apply when a data recipient’s nondisplay use of real-time market data is 

on behalf of its clients as opposed to use 

on its own behalf; and (iii) Category 3 

Fees apply when a data recipient’s nondisplay use of real-time market data is 

for the purpose of internally matching 

buy and sell orders within an 

organization, including matching 

customer orders on a data recipient’s 

own behalf and/or on behalf of its 

clients. The Market Data Fee Schedule 

currently lists each category as Category 

1, Category 2, and Category 3, without 

further description. 

The Exchange is proposing to amend 

the Market Data Fee Schedule to add the 

descriptions of the three categories, as 

set forth above, as a footnote to the 

Market Data Fee Schedule. Because 

there will now be multiple footnotes to 

the Market Data Fee Schedule, the 

Exchange proposes non-substantive 

edits to change the existing footnote 

references from asterisks to numbers. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 5 of the Act, 

in general, and furthers the objectives of 

Section 6(b)(5) 6 of the Act, in particular, 

in that it is designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in facilitating transactions in securities, 

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, and it is not 

designed to permit unfair 

discrimination among customers, 

brokers, or dealers. 

The Exchange believes that adding the 

description of the three categories of 

data recipients for non-display use to 

the Market Data Fee Schedule will 

remove impediments to and help perfect 

a free and open market by providing 

greater transparency for the Exchange’s 

customers regarding the category 

descriptions that have been previously 

filed with the Commission and are 

applicable to the existing Market Data 

Fee Schedule.7

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 

of the purposes of the Act because the 

Exchange is merely adding to the 

Market Data Fee Schedule information 


asabaliauskas on DSK5VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 226 / Monday, November 24, 2014 / Notices 69903 

8See supra n. 4. 

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

10 17 CFR 240.19b–4(f)(6). 

11The Exchange has satisfied this requirement. 

12 15 U.S.C. 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(6). 

14 Id. 

15 17 CFR 240.19b–4(f)(6)(iii). 

16 15 U.S.C. 78s(b)(3)(A). 

17 17 CFR 240.19b–4(f)(6). 

18For purposes only of accelerating the operative 

date of this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

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

19 15 U.S.C. 78s(b)(2)(B). 

20 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

that has been previously filed with the 

Commission.8

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 9 and Rule 

19b–4(f)(6) thereunder.10 Because the 

foregoing proposed rule does not (i) 

significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

for 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, provided that the selfregulatory organization has given the 

Commission written notice of its intent 

to file the proposed rule change at least 

five business days prior to the date of 

filing of the proposed rule change or 

such shorter time as designated by the 

Commission,11 the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 12 and 

Rule 19b–4(f)(6) thereunder.13

A proposed rule change filed under 

Rule 19b–4(f)(6) 14 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),15 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has requested that the 

Commission waive the 30-day delayed 

operative date so that the proposed rule 

change may become effective and 

operative upon filing with the 

Commission pursuant to Section 

19(b)(3)(A) of the Act 16 and Rule 19b– 

4(f)(6)17 thereunder. The Commission 

believes that the proposal raises no 

novel issues and that adding the 

description of the categories of market 

data recipients for non-display use to 

the Market Data Fee Schedule is 

consistent with the protection of 

investors and the public interest 

because it will provide more 

transparency in the Exchange’s Market 

Data Fee Schedule regarding the 

existing definitions in that schedule. 

Based on the foregoing, the Commission 

has determined to waive the 30-day 

operative date so that the proposal may 

take effect upon filing.18

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) 19 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–2014–132 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–NYSEARCA–2014–132. 

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 will also be available for 

inspection and copying at the NYSE’s 

principal office and on its Internet Web 

site at www.nyse.com. 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–2014–132 and should be 

submitted on or before December 15, 

2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–27697 Filed 11–21–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73624; File No. SR–CBOE– 

2014–086] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change to Extend the Penny Pilot 

Program through June 30, 2015 

November 18, 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 November 

12, 2014, 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 

Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A)(iii) of 


asabaliauskas on DSK5VPTVN1PROD with NOTICES