[Federal Register Volume 78, Number 124 (Thursday, June 27, 2013)]
[Notices]
[Pages 38776-38777]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-15364]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-69823; File No. SR-MIAX-2013-29]
Self-Regulatory Organizations; Miami International Securities
Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Make Technical Amendments To the MIAX Options Fee
Schedule
June 21, 2013.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on June 12, 2013, Miami International Securities Exchange LLC (``MIAX''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III 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.
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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
The Exchange is filing a proposal to make technical amendments to
the MIAX Options Fee Schedule (the ``Fee Schedule'').
The text of the proposed rule change is available on the Exchange's
Web site at http://www.miaxoptions.com/filter/wotitle/rule_filing, at
MIAX's principal office, 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 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend its Fee Schedule to make several
technical changes to delete obsolete or unnecessary date references,
delete obsolete fees, and to correctly rename a market data product.
Technical Changes
First, the Exchange proposes to delete the language ``Effective
April 17, 2013'' from the heading in Section 2(b) of the Fee Schedule.
The Exchange believes that including this date in the Fee Schedule in
this location is unnecessary going forward.
Second, the Exchange proposes to delete the portion of the Web CRD
Fees in Section 2(c) that is no longer in effect as of January 1, 2013.
The Exchange also proposes to make the corresponding change to delete
the language that provides that ``[t]hese fees will be in effect on and
after January 2, 2013.'' The Exchange believes these deletions of
obsolete language in the Fee Schedule will reduce the potential of
confusion over which fees apply.
Third, the Exchange proposes to delete footnote 9 regarding the
operative date for Membership Application Fees. Since the Membership
Application Fees are now effective and operative, the Exchange believes
that including this language in the Fee Schedule is unnecessary going
forward.
Fourth, the Exchange proposes to make a technical change in Section
6 of the Fee Schedule to correct the name of the MIAX market data
product, MIAX Top of Market (``ToM''), which is incorrectly identified
as Top of MIAX in the Fee Schedule.
Finally, to avoid confusion, the Exchange proposes to re-number the
footnotes in the Fee Schedule to reflect the deletion of footnotes 5,
6, and 9.
[[Page 38777]]
2. Statutory Basis
The Exchange believes that its proposal to amend its fee schedule
is consistent with Section 6(b) of the Act \3\ in general, and furthers
the objectives of Section 6(b)(4) of the Act \4\ in particular, in that
it is an equitable allocation of reasonable fees and other charges
among Exchange members. The proposal to make several technical changes
to the Fee Schedule to delete obsolete or unnecessary dates, delete
obsolete fees, and to correctly rename a market data product should
reduce possible confusion among members to which fees apply.
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\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78f(b)(4).
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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 technical changes
to the Fee Schedule to delete obsolete or unnecessary dates, delete
obsolete fees, and to correctly rename a market data product should
reduce possible confusion among members at to which fees apply. Since
the Exchange proposes no substantive changes other than the technical
changes, the proposal should not impose any burden on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
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.\5\ 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.
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\5\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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 [email protected]. Please include
File No. SR-MIAX-2013-29 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File No. SR-MIAX-2013-29. 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 No. SR-MIAX-2013-29 and should be
submitted on or before July 18, 2013.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2013-15364 Filed 6-26-13; 8:45 am]
BILLING CODE 8011-01-P