[Federal Register Volume 78, Number 212 (Friday, November 1, 2013)]
[Notices]
[Pages 65739-65740]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-26076]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-70765; 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 Topaz Exchange, LLC as a Plan Sponsor
October 28, 2013.
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 August 7, 2013, Topaz Exchange, LLC (``Topaz'' 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 proposes to add Topaz
as a Sponsor of the OLPP. 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. 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. (``PCX'') (n/k/a NYSE Arca). See Securities Exchange
Act Release No. 44521, 66 FR 36809 (July 13, 2001). On February 5,
2004, Boston Stock Exchange, Inc. (``BSE'') was added as a Sponsor
to OLPP. See Securities Exchange Act Release No. 49199, 69 FR 7030
(February 12, 2004). On March 21, 2008, the NASDAQ Stock Market, LLC
(``Nasdaq'') was added as a Sponsor to the OLPP. See Securities
Exchange Act Release No. 57546, 73 FR 16393 (March 27, 2008). On
February 17, 2010, BATS Exchange, Inc. (``BATS'') was added as a
Sponsor to the OLPP. See Securities Exchange Act Release No. 61528,
75 FR 8415 (February 24, 2010). On October 22, 2010, C2 Options
Exchange Incorporated (``C2'') was added as a Sponsor to the OLPP.
See Securities Exchange Act Release No. 63162, 75 FR 66401 (October
28, 2010). On May 9, 2012, BOX Options Exchange LLC (``BOX'') was
added as a Sponsor to the OLPP. See Securities Exchange Act Release
No. 66952, 77 FR 28641 (May 15, 2012). On June 29, 2012, Nasdaq OMX
BX, Inc. (``BX'') was added as a Sponsor to the OLPP. See Securities
Exchange Act Release No. 67327, 77 FR 40125 (July 6, 2012). On
December 5, 2012, Miami International Securities Exchange, LLC
(``MIAX'') was added as a Sponsor to the OLPP.
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I. Description and Purpose of the Amendment
The current Sponsors of the OLPP are BATS, BOX, BX, CBOE, C2, ISE,
MIAX, Nasdaq, NYSE Amex, NYSE Arca, OCC, and Phlx. The proposed
amendment to the OLPP would add Topaz as a Sponsor of the OLPP. A
national securities exchange may become a Sponsor if it satisfies the
requirement of Section 7 of the OLPP. Specifically an Eligible Exchange
\4\ may become a Sponsor of the OLPP by: (i) Executing a copy of the
OLPP, as then in effect; (ii) providing each current Plan Sponsor with
a copy of such executed Plan; and (iii) effecting an amendment to the
OLPP, as specified in Section 7(ii) of the OLPP.
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\4\ 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''). Topaz has
represented that it has met both the requirements for being
considered an Eligible Exchange.
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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; \5\ and (b) submit the executed OLPP to the Commission. The OLPP
then provides that such an amendment will be effective at the later of
either the amendment being approved by the Commission or otherwise
becoming effective pursuant to Section 11A of the Act. Topaz has
submitted a signed copy of the OLPP to the Commission and to each Plan
Sponsor in accordance with the procedures set forth in the OLPP
regarding new Plan Sponsors.
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\5\ The Commission notes that the list of plan sponsors is set
forth in Section 9 of the OLPP.
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II. Effectiveness of the Proposed Linkage Plan Amendment
The foregoing proposed OLPP amendment has become effective pursuant
to Rule 608(b)(3)(iii) \6\ 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 paragraphs (a)(1) of Rule
608,\7\ 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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\6\ 17 CFR 242.608(b)(3)(iii).
\7\ 17 CFR 242.608(a)(1).
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[[Page 65740]]
III. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed
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 Elizabeth M. Murphy,
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 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 Topaz'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
November 22, 2013.
By the Commission.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-26076 Filed 10-31-13; 8:45 am]
BILLING CODE 8011-01-P