[Federal Register Volume 81, Number 49 (Monday, March 14, 2016)]
[Notices]
[Pages 13433-13434]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-05598]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77323; File No. 4-443]
Joint Industry Plan; Notice of Filing and Immediate Effectiveness
of Amendment to the Plan for the Purpose of Developing and Implementing
Procedures Designed To Facilitate the Listing and Trading of
Standardized Options To Add ISE Mercury, LLC as a Plan Sponsor
March 8, 2016.
Pursuant to Section 11A(a)(3) of the Securities Exchange Act of
1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given
that on February 11, 2016, ISE Mercury, LLC (``ISE Mercury'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') an amendment to the Plan for the Purpose of Developing
and Implementing Procedures Designed to Facilitate the Listing and
Trading of Standardized Options (``OLPP'').\3\ The amendment adds ISE
Mercury as a Sponsor \4\ of the OLPP. The Commission is publishing this
notice to solicit comments on the amendment from interested persons.
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\1\ 15 U.S.C. 78k-1(a)(3).
\2\ 17 CFR 242.608.
\3\ On July 6, 2001, the Commission approved the OLPP, which was
proposed by the American Stock Exchange LLC (``Amex''), Chicago
Board Options Exchange, Incorporated (``CBOE''), International
Securities Exchange LLC (``ISE''), Options Clearing Corporation
(``OCC''), Philadelphia Stock Exchange, Inc. (``Phlx''), and Pacific
Exchange, Inc. (n/k/a ``NYSE Arca''). See Securities Exchange Act
Release No. 44521, 66 FR 36809 (July 13, 2001). See also Securities
Exchange Act Release Nos. 49199 (February 5, 2004), 69 FR 7030
(February 12, 2004) (adding Boston Stock Exchange, Inc. as a Sponsor
to the OLPP); 57546 (March 21, 2008), 73 FR 16393 (March 27, 2008)
(adding Nasdaq Stock Market, LLC (``Nasdaq'') as a Sponsor to the
OLPP); 61528 (February 17, 2010), 75 FR 8415 (February 24, 2010)
(adding BATS Exchange, Inc. (``BATS'') as a Sponsor to the OLPP);
63162 (October 22, 2010), 75 FR 66401 (October 28, 2010) (adding C2
Options Exchange Incorporated (``C2'') as a sponsor to the OLPP);
66952 (May 9, 2012), 77 FR 28641 (May 15, 2012) (adding BOX Options
Exchange LLC (``BOX'') as a Sponsor to the OLPP); 67327 (June 29,
2012), 77 FR 40125 (July 6, 2012) (adding Nasdaq OMX BX, Inc.
(``BX'') as a Sponsor to the OLPP); 70765 (October 28, 2013), 78 FR
65739 (November 1, 2013) (adding Topaz Exchange, LLC as a Sponsor to
the OLPP (``Topaz''); 70764 (October 28, 2013), 78 FR 65733
(November 1, 2013) (adding Miami International Securities Exchange,
LLC (``MIAX'') as a Sponsor to the OLPP); and 76822 (January 1,
2016), 81 FR 1251 (January 11, 2016) (adding EDGX Exchange, Inc.
(``EDGX'') as a Sponsor to the OLPP).
\4\ A ``Sponsor'' is an Eligible Exchange whose participation in
the OLPP has become effective pursuant to Section 7 of the Plan.
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I. Description and Purpose of the Amendment
The OLPP establishes procedures designed to facilitate the listing
and trading of standardized options contracts on the options exchanges.
The amendment to the OLPP adds ISE Mercury as a Sponsor. The other OLPP
Sponsors are Amex, BATS, BOX, BX, CBOE, C2, EDGX, ISE, MIAX, Nasdaq,
NYSE Arca, OCC, Phlx, and Topaz. ISE Mercury has submitted an executed
copy of the OLPP to the Commission in accordance with the procedures
set forth in the OLPP regarding new Sponsors. Section 7 of the OLPP
provides for the entry of new Sponsors to the OLPP. Specifically,
Section 7 of the OLPP provides that an Eligible Exchange \5\ may become
a Sponsor of the OLPP by: (i) Executing a copy of the OLPP, as then in
effect; (ii) providing each current Sponsor with a copy of such
executed OLPP; and (iii) effecting an amendment to the OLPP, as
specified in Section 7(ii) of the OLPP.
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\5\ The OLPP defines an ``Eligible Exchange'' as a national
securities exchange registered with the Commission pursuant to
Section 6(a) of the Exchange Act, 15 U.S.C. 78f(a), that (1) has
effective rules for the trading of options contracts issued and
cleared by the OCC approved in accordance with the provisions of the
Exchange Act and the rules and regulations thereunder and (2) is a
party to the Plan for Reporting Consolidated Options Last Sale
Reports and Quotation Information (the ``OPRA Plan''). ISE Mercury
has represented that it has met both the requirements for being
considered an Eligible Exchange. See letter from Michael Simon,
Secretary, ISE, to Brent J. Fields, Secretary, Commission, dated
February 9, 2016.
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Section 7(ii) of the OLPP sets forth the process by which an
Eligible Exchange may effect an amendment to the OLPP. Specifically, an
Eligible Exchange must: (a) Execute a copy of the OLPP with the only
change being the addition of the new Sponsor's name in Section 8 of the
OLPP; \6\ and (b) submit the executed OLPP to the Commission. The OLPP
then provides that such an amendment will be effective when the
amendment is approved by the Commission or otherwise becomes effective
pursuant to Section 11A of the Act and Rule 608 thereunder.
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\6\ The Commission notes that the list of Sponsors is set forth
in Section 9 of the OLPP.
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II. Effectiveness of the OLPP Amendment
The foregoing OLPP amendment has become effective pursuant to Rule
608(b)(3)(iii) \7\ because it involves solely technical or ministerial
matters. At any time within sixty days of the filing of this amendment,
the Commission may summarily abrogate the amendment and require that it
be refiled pursuant to paragraph (a)(1) of Rule 608,\8\ if it appears
to the Commission that such action is necessary or appropriate in the
public interest, for the protection of investors or the maintenance of
fair and orderly markets, to remove impediments to, and perfect the
mechanisms of, a national market system or otherwise in furtherance of
the purposes of the Act.
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\7\ 17 CFR 242.608(b)(3)(iii).
\8\ 17 CFR 242.608(a)(1).
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III. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the amendment 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 [email protected]. Please include
File Number 4-443 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 4-443. This file number
should be included on the subject line if email is used. To help the
Commission
[[Page 13434]]
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 ISE Mercury'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 No. 4-443 and should be submitted on or before
April 4, 2016.
By the Commission.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-05598 Filed 3-11-16; 8:45 am]
BILLING CODE 8011-01-P