[Federal Register Volume 76, Number 98 (Friday, May 20, 2011)]
[Notices]
[Page 29232]
[FR Doc No: 2011-12425]

-----------------------------------------------------------------------

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER11-3561-000]

MP2 Energy LLC; Supplemental Notice That Initial Market-Based
Rate Filing Includes Request for Blanket Section 204 Authorization

    This is a supplemental notice in the above-referenced proceeding of
MP2 Energy LLC's application for market-based rate authority, with an
accompanying rate tariff, noting that such application includes a
request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street, NE.,
Washington, DC 20426, in accordance with Rules 211 and 214 of the
Commission's Rules of Practice and Procedure (18 CFR 385.211 and
385.214). Anyone filing a motion to intervene or protest must serve a
copy of that document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is June 6, 2011.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with Internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
14 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street, NE., Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for review in the Commission's
Public Reference Room in Washington, DC. There is an eSubscription link
on the Web site that enables subscribers to receive e-mail notification
when a document is added to a subscribed dockets(s). For assistance
with any FERC Online service, please e-mail<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For TTY, call<PHONE_NUMBER>.

    Dated: May 16, 2011.
Kimberly D. Bose,
Secretary.
[FR Doc. 2011-12425 Filed 5-19-11; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 80, Number 181 (Friday, September 18, 2015)]
[Notices]
[Pages 56517-56519]
[FR Doc No: 2015-23398]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-75912; File No. SR-ISE-2015-27]

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

September 14, 2015.
    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 September 1, 2015, the International Securities Exchange, LLC
(the ``Exchange'' or the ``ISE'') 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The ISE proposes to amend the Schedule of Fees to increase certain
complex order fees and rebates as described in more detail below. The
text of the proposed rule change is available on the Exchange's Web
site (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 self-regulatory organization
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 Exchange currently provides volume-based tiered rebates for
Priority Customer \3\ complex orders when these orders trade with non-
Priority Customer orders in the complex order book, or trade with
quotes and orders on the regular order book. These complex order
rebates are provided to members based on the member's average daily
volume (``ADV'') in Priority Customer complex orders in six volume
tiers as follows: 0 to 29,999 contracts (Tier 1), 30,000 to 59,999
contracts (Tier 2), 60,000 to 99,999 contracts (Tier 3), 100,000 to
149,999 contracts (Tier 4), 150,000 to 199,999 contracts (Tier 5), and
200,000 or more contracts (Tier 6). Currently, Priority Customer
complex orders receive a rebate of $0.30 per contract in Select Symbols
\4\ and $0.63 per contract in Non-Select Symbols \5\ for Tier 1, $0.35
per contract in Select Symbols and $0.71 per contract in Non-Select
Symbols for Tier 2, $0.40 per contract in Select Symbols and $0.78 per
contract in Non-Select Symbols for Tier 3, $0.43 per contract in Select
Symbols and $0.80 per contract in Non-Select Symbols for Tier 4, $0.45
per contract in Select Symbols and $0.82 per contract in Non-Select
Symbols for Tier 5, and $0.46 per contract in Select Symbols and $0.83
per contract in Non-Select Symbols for Tier 6.\6\ The Exchange now
proposes to increase these rebates by $0.01 per contract for members
that achieve Tiers 3, 4, 5, and 6. As proposed, the Priority Customer
complex order rebate in Select Symbols will be increased to $0.41 per
contract for Tier 3, $0.44 per contract for Tier 4, $0.46 per contract
for Tier 5, and $0.47 per contact for Tier 6. For Non-Select Symbols
the rebate will be increased to $0.79 per contract for Tier 3, $0.81
per contract for Tier 4, $0.83 per contract for Tier 5, and $0.84 per
contract for Tier 6. Other rebate amounts will remain unchanged from
their current levels.
---------------------------------------------------------------------------

    \3\ A ``Priority Customer'' is a person or entity that is to a
broker/dealer in securities, and does not place more than 390 orders
in listed options per day on a average during a calendar month for
its own beneficial account(s), as defined in Rule 100(a)(37A).
    \4\ ``Select Symbols'' are options overlying all symbols listed
on the ISE that are in the Penny Pilot Program.
    \5\ ``Non-Select Symbols'' are options overlying all symbols
excluding Select Symbols.
    \6\ These rebates are provided per contract per leg if the order
trades with non-Priority Customer orders in the complex order book,
or trades with quotes and orders on the regular order book.
---------------------------------------------------------------------------

    In addition, the Exchange charges complex order taker fees and an
equivalent maker fee that applies specifically when trading against
Priority Customer orders. In Select Symbols these fees are $0.46 per
contract for Market Maker \7\ orders (or $0.43 per contract for Market
Makers with total affiliated Priority Customer Complex ADV of 150,000
or more contracts),\8\ and $0.47 per contract for Non-ISE Market
Maker,\9\ Firm Proprietary \10\/Broker-Dealer,\11\ and Professional
Customer \12\ orders. In Non-Select Symbols these fees are $0.85 per
contract for Market Maker orders,\13\ and $0.87 per contract for Non-
ISE Market Maker, Firm Proprietary/Broker-Dealer, and Professional
Customer orders. The Exchange now proposes to increase these fees by
$0.01 per contract. As proposed, the taker fee and equivalent maker fee
for trading against Priority Customer orders in Select Symbols will be
increased to $0.47 per contract for Market Maker orders (or $0.44 per
contract for Market Makers with total affiliated Priority Customer
Complex ADV of 150,000 or more contracts), and $0.48 per contract for
Non-ISE Market Maker, Firm Proprietary/Broker-Dealer, and Professional
Customer orders. In Non-Select Symbols the fee will be increased to
$0.86 per contract for Market Maker orders, and $0.88 per contract for
Non-ISE Market Maker, Firm Proprietary/Broker-Dealer, and Professional
Customer orders. Preferenced Market Makers will continue to receive the
applicable discount of $0.02 per contract when trading against Priority
Customer order preferenced to them in the complex order book.\14\
---------------------------------------------------------------------------

    \7\ The term ``Market Makers'' refers to ``Competitive Market
Makers'' and ``Primary Market Makers'' collectively. See Rule
100(a)(25).
    \8\ ISE Market Makers or making or taking liquidity receive a
discount of $0.02 when trading against Priority Customer orders
preferenced to them in the complex order book in equity options that
are able to be listed and traded on more than one options exchange.
This discount does not apply to FX Options Symbols or to option
classes designated by the Exchange to receive a guaranteed
allocation pursuant to ISE Rule 722(b)(3)(i)(B).
    \9\ A ``Non-ISE Market Maker'' is a market maker as defined in
Section 3(a)(38) of the Securities Exchange Act of 1934, as amended,
registered in the same options class on another options exchange.
    \10\ A ``Firm Proprietary'' order is an order submitted by a
member for its own proprietary account.
    \11\ A ``Broker-Dealer'' order is an order submitted by a member
for a broker-dealer account that is not its own proprietary account.
    \12\ A ``Professional Customer'' is a person or entity that is
not a broker/dealer and is not a Priority Customer.
    \13\ ISE Market Makers making or taking liquidity receive a
discount of $0.02 when trading against Priority Customer orders
preferenced to them in the complex order book in equity options that
are able to be listed and traded on more than one options exchange.
This discount does not apply to FX Options Symbols or to option
classes designated by the Exchange to receive a guaranteed
allocation pursuant to ISE Rule 722(b)(3)(i)(B).
    \14\ See notes 6 [sic] and 11 [sic] supra.
---------------------------------------------------------------------------

    Finally, the Exchange charges a fee for responses to complex
crossing orders that is $0.47 per contract for Market Maker, Non-ISE
Market Maker, Firm Proprietary/Broker-Dealer, Professional Customer,
and Priority Customer orders in Select Symbols. In Non-Select Symbols
this response fee is $0.90 per contract for Market Maker orders, and
$0.95 per contract for Non-ISE Market Maker, Firm Proprietary/Broker-
Dealer, Professional Customer, and Priority Customer orders. The
Exchange now proposes to increase its complex order response fees by
$0.01 per contract. As proposed, the response fee in Select Symbols
will be increased to $0.48 per contract for all market participants,
and the response fee in Non-Select Symbols will be increased to $0.91
per contract for Market Maker orders, and $0.96 per contract for Non-
ISE Market Maker, Firm Proprietary/Broker-Dealer, Professional
Customer, and Priority Customer orders.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\15\ in general, and
Section 6(b)(4) of the Act,\16\ 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.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78f.
    \16\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    The Exchange believes that it is reasonable and equitable to
increase the rebates provided to Priority Customer complex orders, as
these proposed rebates are designed to attract additional Priority
Customer complex order volume to the Exchange. The Exchange already
provides volume-based tiered rebates for Priority Customer complex
orders, and believes that increasing the rebates will incentivize
members to send additional order flow to the ISE in order to achieve
these rebates for their Priority Customer complex order volume,
creating additional liquidity to

the benefit of all members that trade complex orders on the Exchange.
The Exchange also believes that the corresponding increase to the
complex order taker fee and complex order maker fee for trading against
Priority Customer orders, as well as the fee for responses to complex
crossing orders, is reasonable and equitable as the proposed fees are
set at levels that the Exchange believes will continue to be attractive
to market participants that trade on ISE, and that are competitive with
fees charged by other options exchanges.
    The Exchange notes that Priority Customer orders will continue to
receive complex order rebates,\17\ while other market participants will
continue to pay a fee. The Exchange does not believe that this is
unfairly discriminatory as a Priority Customer is by definition not a
broker or dealer in securities, and does not place more than 390 orders
in listed options per day on average during a calendar month for its
own beneficial account(s). This limitation does not apply to
participants whose behavior is substantially similar to that of market
professionals, including Professional Customers, who will generally
submit a higher number of orders (many of which do not result in
executions) than Priority Customers. The Exchange also notes that
Market Maker orders will continue to be eligible for lower fees than
other non-Priority Customer orders. The Exchange does not believe that
it is unfairly discriminatory provide lower fees to Market Maker orders
as Market Makers are subject to additional requirements and obligations
(such as quoting requirements) that other market participants are not.
---------------------------------------------------------------------------

    \17\ With the exception of responses to complex crossing orders
where Priority Customers are charged a fee like other market
participants.
---------------------------------------------------------------------------

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

    In accordance with Section 6(b)(8) of the Act,\18\ 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 Exchange
believes that the proposed complex order fees and rebates remain
competitive with fees and rebates offered on other options exchanges.
The Exchange operates in a highly competitive market in which market
participants can readily direct their order flow to competing venues.
In such an environment, the Exchange must continually review, and
consider adjusting, its fees and rebates to remain competitive with
other exchanges. For the reasons described above, the Exchange believes
that the proposed fee changes reflect this competitive environment.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

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 \19\ and subparagraph (f)(2) of Rule 19b-4
thereunder,\20\ because it establishes a due, fee, or other charge
imposed by ISE.
---------------------------------------------------------------------------

    \19\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \20\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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<EMAIL_ADDRESS>Please include
File Number SR-ISE-2015-27 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-ISE-2015-27. 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-ISE-2015-27, and should be
submitted on or before October 9, 2015.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\21\
---------------------------------------------------------------------------

    \21\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-23398 Filed 9-17-15; 8:45 am]
BILLING CODE 8011-01-P