Document ID: SEC-2014-0825-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: ISE Gemini, LLC
Posted Date: 2014-05-19T04:00Z

[Federal Register Volume 79, Number 96 (Monday, May 19, 2014)]
[Notices]
[Pages 28781-28782]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-11441]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72161; File No. SR-ISEGemini-2014-13]

Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the 
Schedule of Fees

May 13, 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 May 1, 2014 ISE Gemini, LLC (the ``Exchange'' or ``ISE 
Gemini'') filed with the Securities and Exchange Commission the 
proposed rule change, as described in Items I, II, and III below, which 
items have been prepared by the self-regulatory organization. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    ISE Gemini is proposing to amend the Schedule of Fees to update the 
definition of Mini Option to reflect the recent Google stock split. The 
text of the proposed rule change is available on the Exchange's 
Internet Web site at http://www.ise.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 self-regulatory organization 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 the Schedule of 
Fees to update the definition of Mini Option to reflect the recent 
Google stock split. ISE Gemini's sister exchange, the International 
Securities Exchange, LLC (``ISE''), recently amended Supplementary 
Material .13 to Rule 504, listing standards for Mini Options, which is 
incorporated by reference into Chapter 5 of the ISE Gemini rulebook, to 
enable the continued trading of Mini Options on Google Class A shares, 
which were assigned a new symbol, ``GOOGL'', in connection with 
Google's recent stock split.\3\ The Exchange now proposes to similarly 
update the definition of ``Mini Option'' in its Schedule of Fees to 
indicate that Mini Options include options overlying ten shares of 
``GOOGL''. As proposed, ``Mini Options'' are options overlying ten (10) 
shares of AAPL, AMZN, GLD, GOOGL and SPY.
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    \3\ See Securities Exchange Act Release No. 71932 (April 11, 
2014), 79 FR 21816 (April 17, 2014) (SR-ISE-2014-21).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Act,\4\ in general, and Section 
6(b)(4) of the Act,\5\ in particular, in that it is designed to provide 
for the equitable allocation of reasonable dues, fees, and other 
charges among its members and other persons using its facilities.
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    \4\ 15 U.S.C. 78f.
    \5\ 15 U.S.C. 78f(b)(4).
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    As part of Google's recent stock split, the symbol ``GOOG'' was 
assigned to the new Google Class C shares, while Google Class A shares 
were assigned the symbol ``GOOGL''. The ISE recently updated its Mini 
Options rules, which are incorporated by reference into the ISE Gemini 
rulebook, to clarify that it will continue listing Mini Options on the 
Google Class A shares, i.e., GOOGL, and the Exchange believes that it 
is reasonable, equitable, and not unfairly

[[Page 28782]]

discriminatory to update the definition of ``Mini Option'' in the ISE 
Gemini Schedule of Fees in order to eliminate investor confusion about 
which options classes are tradable as Mini Options on the Exchange.

B. Self-Regulatory Organization's Statement on Burden on Competition

    In accordance with Section 6(b)(8) of the Act,\6\ the Exchange does 
not believe that the proposed rule change will impose any burden on 
intermarket or intramarket competition that is not necessary or 
appropriate in furtherance of the purposes of the Act. The proposed 
change to the definition of Mini Option is a technical change that will 
have no competitive impact.
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    \6\ 15 U.S.C. 78f(b)(8).
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C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act,\7\ and subparagraph (f)(2) of Rule 19b-4 
thereunder,\8\ because it establishes a due, fee, or other charge 
imposed by ISE Gemini.
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    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
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    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 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 No. SR-ISEGemini-2014-13 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-ISEGemini-2014-13. 
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-
ISEGemini-2014-13 and should be submitted by June 9, 2014.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-11441 Filed 5-16-14; 8:45 am]
BILLING CODE 8011-01-P