Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Singly Listed Options
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
FOOTNOTE 1 15 U.S.C. 78s(b)(1). END FOOTNOTE
FOOTNOTE 2 17 CFR 240.19b-4. END FOOTNOTE
The Exchange proposes to amend Section III of the Pricing Schedule which pertains to Singly Listed Options fees. /3/
FOOTNOTE 3 Singly Listed Options fees includes options overlying currencies, equities, ETFs, ETNs treasury securities and indexes not listed on another exchange. END FOOTNOTE
The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqomxphlx.cchwallstreet.com/, at the principal office of the Exchange, and at the
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.
The purpose of this filing is to amend Section III of the Exchange's Pricing Schedule entitled "Singly Listed Options" to: (1) Amend Options Transaction Charges; (ii) delete NASDAQ OMX Alpha Indexes(TM) ("Alpha Indexes"), /4/ MSCI Index Options, /5/ and
FOOTNOTE 4 Alpha Indexes measure relative total returns of one stock and one exchange-traded fund share ("ETF") underlying options which are also traded on the Exchange (each such combination of two components is referred to as an "Alpha Pair"). The first component identified in an Alpha Pair (the "Target Component") is measured against the second component identified in the Alpha Pair (the "Benchmark Component"). Alpha Index Options contracts will be exercised European-style and settled in U.S. dollars. See Securities Exchange Act Release No. 63860 (
FOOTNOTE 5 The Exchange filed to list options on the MSCI EM Index. The MSCI EM Index is a free float-adjusted market capitalization index consisting of large and midcap component securities from countries classified by
FOOTNOTE 6 Subsection (a)(1) of Phlx Rule 1001D states that the term "Treasury securities" (also known as Treasury debt securities) means a bond or note or other evidence of indebtedness that is a direct obligation of, or an obligation guaranteed as to principal or interest by,
FOOTNOTE 7 For purposes of pricing of Singly Listed FX Options, this includes the following U.S. dollar-settled foreign currency options: XDB, XDE, XDN, XDS, XDA, XDM, XEH, XEV, XDZ, XDC and XDV. END FOOTNOTE
Today, the Exchange assesses an Options Transaction Charge for Customers of
FOOTNOTE 8 The term "professional" means any person or entity that (i) is not a broker or dealer in securities, and (ii) places more than 390 orders in listed options per day on average during a calendar month for its own beneficial account(s).
FOOTNOTE 9 The term "Firm" applies to any transaction that is identified by a member or member organization for clearing in the Firm range at
FOOTNOTE 10 The term "Broker-Dealer" applies to any transaction which is not subject to any of the other transaction fees applicable within a particular category. END FOOTNOTE
FOOTNOTE 11 A Specialist is an Exchange member who is registered as an options specialist pursuant to Rule 1020(a). END FOOTNOTE
FOOTNOTE 12 A "Market Maker" includes Registered Options Traders (Rule 1014(b)(i) and (ii)), which includes Streaming Quote Traders (
FOOTNOTE 14 ETNs are also known as "
FOOTNOTE 15 An ETF is an open-ended registered investment company under the Investment Company Act of 1940 that has received certain exemptive relief from the Commission to allow secondary market trading in the ETF shares. ETFs are generally index-based products, in that each ETF holds a portfolio of securities that is intended to provide investment results that, before fees and expenses, generally correspond to the price and yield performance of the underlying benchmark index. END FOOTNOTE
FOOTNOTE 16 The following index symbols will be assessed the Options Transaction Charges in Section III for Singly Listed Options: SOX, HGX and OSX. END FOOTNOTE
FOOTNOTE 17 Professionals, Broker-Dealers and Firms are assessed a
The Exchange proposes to delete pricing related to Alpha Indexes,
--This is a summary of a
Citation: "79 FR 48269"
Document Number: "Release No. 34-72806; File No. SR-Phlx-2014-51"
Federal Register Page Number: "48269"
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