Automated Matching Systems Exchange, LLC; Notice of Filing of Application for Limited Volume Exemption From Registration as a National Securities Exchange Under Section 5 of the Securities Exchange Act of 1934, 44070 [2014-17774]

Download as PDF 44070 Federal Register / Vol. 79, No. 145 / Tuesday, July 29, 2014 / Notices rmajette on DSK2TPTVN1PROD with NOTICES hour.7 The staff therefore estimates that the aggregate annual cost of complying with the paperwork requirements of the rule is approximately $2,412,343 ((7,377 hours × $199 = $1,468,023) + (14,755 hours × $64 = $944,320)). To comply with state law, many investment companies already must distinguish the different sources from which a shareholder distribution is paid and disclose that information to shareholders. Thus, many investment companies would be required to distinguish the sources of shareholder dividends whether or not the Commission required them to do so under Rule 19a–1. The estimate of average burden hours is made solely for the purposes of the Paperwork Reduction Act, and is not derived from a comprehensive or even a representative survey or study of the costs of Commission rules. Compliance with the collection of information required by Rule 19a–1 is mandatory for management companies that make statements to shareholders pursuant to section 19(a) of the Act. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments are invited on: (a) Whether the collections of information are necessary for the proper performance of the functions of the Commission, including whether the information has practical utility; (b) the accuracy of the Commission’s estimate of the burdens of the collections of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burdens of the collections of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to Thomas Bayer, Chief Information Officer, Securities and Exchange Commission, C/O Remi Pavlik-Simon, 100 F Street NE., Washington, DC 20549; or send an email to: PRA_ Mailbox@sec.gov. Dated: July 23, 2014. Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–17777 Filed 7–28–14; 8:45 am] BILLING CODE 8011–01–P 7 Hourly rates are derived from SIFMA’s Office Salaries in the Securities Industry 2013, modified to account for an 1800-hour work-year and multiplied by 2.93 to account for bonuses, firm size, employee benefits and overhead. VerDate Mar<15>2010 15:02 Jul 28, 2014 Jkt 232001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–72661; File No. 10–214] Automated Matching Systems Exchange, LLC; Notice of Filing of Application for Limited Volume Exemption From Registration as a National Securities Exchange Under Section 5 of the Securities Exchange Act of 1934 July 23, 2014. On July 7, 2014, Automated Matching Systems Exchange, LLC (‘‘AMSE’’) submitted to the Securities and Exchange Commission (‘‘Commission’’) an application seeking a limited volume exemption under Section 5 of the Securities Exchange Act (‘‘Exchange Act’’) from registration as a national securities exchange under Section 6 of the Exchange Act. Although Section 5 of the Exchange Act does not require publication of such a request for exemption, the Commission has determined, in its discretion, to publish this notice in order to solicit the views of interested persons on AMSE’s exemption application.1 AMSE proposes to conduct business in reliance upon an exemption from registration as a national securities exchange due to the limited volume of transactions proposed to be effected on AMSE. In general, AMSE seeks to operate as a centralized marketplace for alternative trading systems. AMSE proposes to operate solely on an ‘‘offorder-book’’ trading basis. Each member of AMSE would maintain its own automated matching system or electronic order book and would report its transactions to AMSE at such intervals as required by AMSE. Trades would occur when an order to buy and an order to sell match on the member’s electronic order book. Each member of AMSE would adopt rules governing the execution and priority of orders. AMSE does not intend to have a physical exchange trading floor, centralized order book, or specialists or market makers with affirmative and negative market making obligations. AMSE’s exemption application is available at the Commission’s Public Reference Room and www.sec.gov. Interested persons are invited to submit written data, views, and arguments concerning AMSE’s exemption 1 Section 5 of the Exchange Act authorizes the Commission to grant an exemption from registration if, ‘‘in the opinion of the Commission, by reason of the limited volume of transactions effected on [the] exchange, it is not practicable and not necessary or appropriate in the public interest for the protection of investors to require such registration.’’ 15 U.S.C. 78e. PO 00000 Frm 00071 Fmt 4703 Sfmt 9990 application, including whether AMSE’s exemption application is consistent with the Exchange Act and whether AMSE qualifies as an ‘‘exchange’’ under the Exchange Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/other.shtml); or • Send an email to rule-comments@ sec.gov. Please include File Number 10– 214 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, Station Place, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number 10–214. 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 (https://www.sec.gov/ rules/other.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to AMSE’s exemption application filed with the Commission, and all written communications relating to the application 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. 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 10–214 and should be submitted on or before September 12, 2014. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.2 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–17774 Filed 7–28–14; 8:45 am] BILLING CODE 8011–01–P 2 17 E:\FR\FM\29JYN1.SGM CFR 200.30–3(a)(71)(i). 29JYN1

Agencies

[Federal Register Volume 79, Number 145 (Tuesday, July 29, 2014)]
[Notices]
[Page 44070]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17774]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-72661; File No. 10-214]


Automated Matching Systems Exchange, LLC; Notice of Filing of 
Application for Limited Volume Exemption From Registration as a 
National Securities Exchange Under Section 5 of the Securities Exchange 
Act of 1934

July 23, 2014.
    On July 7, 2014, Automated Matching Systems Exchange, LLC 
(``AMSE'') submitted to the Securities and Exchange Commission 
(``Commission'') an application seeking a limited volume exemption 
under Section 5 of the Securities Exchange Act (``Exchange Act'') from 
registration as a national securities exchange under Section 6 of the 
Exchange Act. Although Section 5 of the Exchange Act does not require 
publication of such a request for exemption, the Commission has 
determined, in its discretion, to publish this notice in order to 
solicit the views of interested persons on AMSE's exemption 
application.\1\
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    \1\ Section 5 of the Exchange Act authorizes the Commission to 
grant an exemption from registration if, ``in the opinion of the 
Commission, by reason of the limited volume of transactions effected 
on [the] exchange, it is not practicable and not necessary or 
appropriate in the public interest for the protection of investors 
to require such registration.'' 15 U.S.C. 78e.
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    AMSE proposes to conduct business in reliance upon an exemption 
from registration as a national securities exchange due to the limited 
volume of transactions proposed to be effected on AMSE. In general, 
AMSE seeks to operate as a centralized marketplace for alternative 
trading systems. AMSE proposes to operate solely on an ``off-order-
book'' trading basis. Each member of AMSE would maintain its own 
automated matching system or electronic order book and would report its 
transactions to AMSE at such intervals as required by AMSE. Trades 
would occur when an order to buy and an order to sell match on the 
member's electronic order book. Each member of AMSE would adopt rules 
governing the execution and priority of orders. AMSE does not intend to 
have a physical exchange trading floor, centralized order book, or 
specialists or market makers with affirmative and negative market 
making obligations.
    AMSE's exemption application is available at the Commission's 
Public Reference Room and www.sec.gov. Interested persons are invited 
to submit written data, views, and arguments concerning AMSE's 
exemption application, including whether AMSE's exemption application 
is consistent with the Exchange Act and whether AMSE qualifies as an 
``exchange'' under the Exchange Act. Comments may be submitted by any 
of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://www.sec.gov/rules/other.shtml); or
     Send an email to rule-comments@sec.gov. Please include 
File Number 10-214 on the subject line.

Paper Comments

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

All submissions should refer to File Number 10-214. 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 (https://www.sec.gov/rules/other.shtml). 
Copies of the submission, all subsequent amendments, all written 
statements with respect to AMSE's exemption application filed with the 
Commission, and all written communications relating to the application 
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. 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 10-214 
and should be submitted on or before September 12, 2014.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\2\
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    \2\ 17 CFR 200.30-3(a)(71)(i).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17774 Filed 7-28-14; 8:45 am]
BILLING CODE 8011-01-P
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