80 FR 28 pgs. 7657-7659 - Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX BX, Inc. Relating to a Typographical Error
Type: NOTICEVolume: 80Number: 28Pages: 7657 - 7659
Pages: 7657, 7658, 7659Docket number: [Release No. 34-74211; File No. SR-BX-2015-008]
FR document: [FR Doc. 2015-02749 Filed 2-10-15; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-74211; File No. SR-BX-2015-008]
Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX BX, Inc. Relating to a Typographical Error
February 5, 2015.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 ("Act"),1and Rule 19b-42thereunder, notice is hereby given that, on January 29, 2015, 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 and II 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.
Footnotes:
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to modify the BX Rulebook at Options Chapter VI, Section 1 to correct a typographical error in a previous rule change.
The Exchange requests that the Commission waive the 30-day operative delay period contained in Exchange Act Rule 19b-4(f)(6)(iii).3
Footnotes:
3 17 CFR 240.19b-4(f)(6)(iii).
The text of the proposed rule changeis available on the Exchange's Web site at http://nasdaqomxbx.cchwall street.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
[top] 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 is proposing to modify the Exchange's Rulebook at Chapter VI, Section 1 to correct a typographical error associated with the numbering in the Rulebook. The Exchange filed a proposed rule change which was recently approved,4which caused duplicative numbering in the Rulebook. The purpose of this filing is administrative in nature; the Exchange solely desires to correct the numbering in Chapter VI, Section 1. There are no substantive changes being made in this proposed rule change.
Footnotes:
4 Securities Exchange Act Release No. 34-73784 (December 8, 2014), 79 FR 73930 (December 12, 2014) (SR-BX-2014-049). The filing attempted to add new subsection (e)(1) to BX Options Chapter VI, Section 1, a subsection that already contained other text.
Specifically, the Exchange proposes to renumber the second (1) in Chapter IV, Section 1(e), related to a Directed Order, and continue numbering the paragraphs thereafter. The Exchange is also proposing to remove Chapter IV, Sections 1(e)(4) and (7) which are currently reserved.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section 6(b) of the Act5in general, and furthers the objectives of Section 6(b)(5) of the Act6in 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 correcting a typographical error in the BX Rulebook. The Exchange believes that correcting the error will avoid confusion when referring to the Rulebook. The proposed amendments are non-substantive.
Footnotes:
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
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 not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change corrects a typographical error in the Rulebook and is non-substantive. This proposed rule change will not impact competition in any respect.
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 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 for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act7and Rule 19b-4(f)(6) thereunder.8
Footnotes:
7 15 U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b-4(f)(6). As required under Rule 19b-4(f)(6)(iii), the Exchange provided the Commission with written notice of its intent to file the proposed rule change, along with a brief description and the text of 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.
The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange states that the proposal does not affect the protection of investors or the public interest, because it is designed solely to correct a typographical error. Similarly, the Exchange states that the change does not impact competition in any respect. The Exchange notes that a waiver of the 30-day operative delay will allow the correction to the Rulebook to take effect immediately, thereby avoiding any confusion when referring to the Rulebook. For this reason, the Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. Therefore, the Commission designates the proposed rule change to be operative upon filing.9
Footnotes:
9 For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f).
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
• 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-2015-008 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-2015-008. 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 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-BX-2015-008 and should be submitted on or before March 4, 2015.
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For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10
Footnotes:
10 17 CFR 200.30-3(a)(12).
Brent J. Fields,
Secretary.
[FR Doc. 2015-02749 Filed 2-10-15; 8:45 am]
BILLING CODE 8011-01-P